Woodward, Inc.

Energy
Industrial Machinery/Components
www.woodward.com

Earnings Score
Moat Score
Safety Score

Market Cap $10.79B
PE 29
Debt $872.47M
Cash $282.27M
EV $11.38B
FCF $342.81M

Earnings

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Sales & Net Margins

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Earnings	$372.97M
EBIT	$453.97M
ROE	17%
ROA	10%
FCF	$342.81M
Equity	$2.18B
Growth Stability	73%
PE	28.94
PEG	5.92
PB	4.96
P/FCF	31.48
P/S	3.25
Price/Cash	0.03
Debt/Equity	0.4
Debt/FCF	2.55
Net Margins	11%
Gross Margins	26%
Op. Margins	14%
Earnings CAGR	5%
Sales Growth YoY	10%
Sales Growth QoQ	1%
Sales CAGR	4%
FCF CAGR	9%
Equity CAGR	8%
Earnings Stability	0.24
Earnings Growth YoY	1%
Earnings Growth QoQ	-18%
Earnings CAGR 5Y	5%

Sales CAGR 5Y	5%
FCF CAGR 5Y	-7%
Equity CAGR 5Y	2%
Earnings CAGR 3Y	18%
Sales CAGR 3Y	18%
FCF CAGR 3Y	23%
Equity CAGR 3Y	4%
Market Cap	$10.79B
Revenue	$3.32B
Dividend Yield	1%
Payout Ratio	16%
Assets	$4.37B
Total Debt	$872.47M
Cash	$282.27M
Shares Outstanding	60.06M
EV	11.38B
Earnings Score	10%
Moat Score	92%
Safety Score	89%
Final Score	64%
Working Capital	820.1M
Current Ratio	1.89
Gross Profit	$876.48M
Shares Growth 3y	-1%
Equity Growth QoQ	1%
Equity Growth YoY	5%

Assets & ROA

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Stockholders Equity & ROE

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Woodward Inc creates energy control and optimization solutions. The systems and solutions can help evaluate the performance, efficiencies, and emissions of its customers' products. Specifically, the control and optimization solutions are for aerospace, energy, and other industrial markets. Fluid and electrical energy, motions, or other outputs may be monitored or improved with the company's products. Also, Woodward provides aftermarket repair and replacements to enhance support. A majority of sales derive from the United States, but facilities in different regions of the world help assemble and promote its products through various locations.

SEC Filings

Direct access to Woodward, Inc. (WWD) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Woodward, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Woodward, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 5%

Stability 24%

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Woodward, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Woodward, Inc..

Years

Calculation mode

= $6.2B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$343M	$372M	$404M	$438M	$475M	$516M	$559M	$607M	$659M	$715M	$775M	$7.8B
DCF		$338M	$334M	$329M	$325M	$320M	$316M	$311M	$307M	$303M	$299M	$3B
Value	$6.2B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Net Margins	9%	9%	10%	8%	9%	10%	9%	7%	8%	11%	11%
ROA	-	9%	9%	6%	8%	7%	6%	5%	7%	10%	10%
ROE	-	15%	15%	12%	15%	12%	9%	9%	11%	17%	17%

Good Net Margins (11.22%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Debt over FCF	-	2.81	2.86	7.25	3.73	3.11	1.72	5.52	3.44	2.55	2.55
Debt over Equity	0.74	0.6	0.45	0.81	0.63	0.47	0.33	0.41	0.39	0.4	0.4
Growth Stability	-	-	-	96%	100%	100%	92%	73%	100%	100%	73%

Neutral Debt/FCF ratio (2.55)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.4)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (73%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	CAGR 5Y
Revenue YoY growth	-	-1%	4%	11%	25%	-14%	-10%	6%	22%	14%	5%
Earnings YoY growth	-	-0%	11%	-10%	44%	-7%	-13%	-18%	35%	61%	5%
Equity YoY growth	-	5%	13%	12%	12%	15%	11%	-14%	9%	5%	2%
FCF YoY growth	-	32K%	-17%	-20%	69%	4%	41%	-67%	65%	48%	-7%