WWD · Woodward, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.09B | $996.45M | $915.45M | $883.63M | $772.73M | $847.69M | $835.34M | $786.73M | $800.66M | $718.21M |
| Cost of Revenue | $774.66M | $704.29M | $666.29M | $643.53M | $583.09M | $617.70M | $600.95M | $582.38M | $596.25M | $559.15M |
| Gross Profit | $315.91M | $292.16M | $249.16M | $240.10M | $189.63M | $229.99M | $234.39M | $204.35M | $204.41M | $159.06M |
| R&D | $46.12M | $37.76M | $41.09M | $37.23M | $30.21M | $38.73M | $36.47M | $30.79M | $35.03M | $37.78M |
| SG&A | $102.28M | $94.98M | $88.70M | $83.84M | $69.70M | $73.81M | $81.45M | $74.51M | $64.98M | $75.58M |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $27.57M | $29.04M | $21.48M | $20.79M | $27.88M | $20.66M | $20.61M | $28.82M | $20.55M | $20.54M |
| Operating Income | $167.43M | $169.15M | $126.84M | $132.96M | $101.85M | $122.10M | $120.62M | $109.72M | $105.74M | $40.24M |
| Interest Expense | $12.04M | $10.34M | $11.23M | $11.89M | $12.34M | $11.52M | $11.53M | $11.44M | $12.18M | $12.85M |
| Income Tax | $33.41M | $35.43M | $18.39M | $24.01M | $14.76M | $20.02M | $23.07M | $19.68M | $21.14M | $4.73M |
| Net Income | $134.01M | $133.72M | $108.45M | $108.95M | $87.09M | $102.08M | $97.56M | $90.04M | $84.60M | $35.51M |
| EPS - Basic | $2.25 | $2.23 | $1.82 | $1.83 | $1.47 | $1.69 | $1.61 | $1.50 | $1.41 | $0.59 |
| EPS - Diluted | $2.19 | $2.17 | $1.76 | $1.78 | $1.42 | $1.63 | $1.56 | $1.46 | $1.37 | $0.58 |
Balance Sheet
| Line item | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $501.17M | $454.25M | $327.43M | $364.14M | $283.73M | $282.27M | $316.93M | $144.35M | $137.45M | $129.43M |
| Accounts Receivable | $536.47M | $413.84M | $477.32M | $495.66M | $367.06M | $457.23M | $530.13M | $483.70M | $485.23M | $408.90M |
| Inventory | $704.47M | $689.22M | $654.61M | $634.51M | $632.00M | $609.09M | $580.38M | $559.67M | $517.84M | $567.78M |
| Accounts Payable | $305.86M | $269.98M | $289.42M | $269.32M | $224.03M | $287.46M | $258.67M | $253.40M | $234.33M | $220.39M |
| Current Assets | $2.27B | $2.05B | $1.88B | $1.91B | $1.72B | $1.74B | $1.81B | $1.55B | $1.47B | $1.47B |
| Total Assets | $4.97B | $4.73B | $4.63B | $4.49B | $4.28B | $4.37B | $4.37B | $4.13B | $4.01B | $4.01B |
| Current Liabilities | $1.31B | $999.13M | $907.39M | $979.72M | $914.82M | $923.51M | $691.86M | $582.81M | $617.20M | $666.94M |
| Long-term Debt | $453.37M | $457.00M | $456.97M | $489.82M | $483.20M | $569.75M | $649.04M | $653.03M | $645.71M | $652.12M |
| Total Liabilities | $2.44B | $2.15B | $2.06B | $2.16B | $2.07B | $2.19B | $2.04B | $1.94B | $1.94B | $2.00B |
| Stockholders' Equity | $2.53B | $2.59B | $2.57B | $2.34B | $2.21B | $2.18B | $2.33B | $2.19B | $2.07B | $2.01B |
| Retained Earnings | $3.83B | $3.72B | $3.60B | $3.39B | $3.30B | $3.22B | $3.07B | $2.99B | $2.91B | $2.77B |
Cash Flow
| Line item | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | $114.44M | - | - | $34.52M | - | - | $46.79M | - | - |
| Investing Cash Flow | - | ($48.33M) | - | - | ($32.10M) | - | - | ($41.78M) | - | - |
| Financing Cash Flow | - | $60.16M | - | - | $19.39M | - | - | ($8.09M) | - | - |
| CapEx | - | $44.13M | - | - | $33.57M | - | - | $41.81M | - | - |
| Free Cash Flow | - | $70.31M | - | - | $942.0K | - | - | $4.98M | - | - |
Ratios
| Metric | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 29.0% | 29.3% | 27.2% | 27.2% | 24.5% | 27.1% | 28.1% | 26.0% | 25.5% | 22.1% |
| Operating margin | 15.4% | 17.0% | 13.9% | 15.0% | 13.2% | 14.4% | 14.4% | 13.9% | 13.2% | 5.6% |
| EBITDA margin | 17.9% | 19.9% | 16.2% | 17.4% | 16.8% | 16.8% | 16.9% | 17.6% | 15.8% | 8.5% |
| Net margin | 12.3% | 13.4% | 11.8% | 12.3% | 11.3% | 12.0% | 11.7% | 11.4% | 10.6% | 4.9% |
| Free cash flow margin | - | 7.1% | - | - | 0.1% | - | - | 0.6% | - | - |
| FCF / Net income | - | 0.53 | - | - | 0.01 | - | - | 0.06 | - | - |
| R&D / Revenue | 4.2% | 3.8% | 4.5% | 4.2% | 3.9% | 4.6% | 4.4% | 3.9% | 4.4% | 5.3% |
| SG&A / Revenue | 9.4% | 9.5% | 9.7% | 9.5% | 9.0% | 8.7% | 9.8% | 9.5% | 8.1% | 10.5% |
| Effective tax rate | 20.0% | 20.9% | 14.5% | 18.1% | 14.5% | 16.4% | 19.1% | 17.9% | 20.0% | 11.8% |
| Return on assets | 2.7% | 2.8% | 2.3% | 2.4% | 2.0% | 2.3% | 2.2% | 2.2% | 2.1% | 0.9% |
| Return on equity | 5.3% | 5.2% | 4.2% | 4.7% | 3.9% | 4.7% | 4.2% | 4.1% | 4.1% | 1.8% |
| Return on invested capital | 4.5% | 4.4% | 3.6% | 3.9% | 3.2% | 3.7% | 3.3% | 3.2% | 3.1% | 1.3% |
| Liquidity | ||||||||||
| Current ratio | 1.73 | 2.05 | 2.08 | 1.95 | 1.89 | 1.89 | 2.62 | 2.65 | 2.38 | 2.21 |
| Quick ratio | 1.19 | 1.36 | 1.36 | 1.30 | 1.19 | 1.23 | 1.78 | 1.69 | 1.54 | 1.35 |
| Cash ratio | 0.38 | 0.45 | 0.36 | 0.37 | 0.31 | 0.31 | 0.46 | 0.25 | 0.22 | 0.19 |
| Leverage | ||||||||||
| Debt / Equity | 0.18 | 0.18 | 0.18 | 0.21 | 0.22 | 0.26 | 0.28 | 0.30 | 0.31 | 0.32 |
| Debt / Assets | 0.09 | 0.10 | 0.10 | 0.11 | 0.11 | 0.13 | 0.15 | 0.16 | 0.16 | 0.16 |
| Debt / EBITDA | 2.33 | 2.31 | 3.08 | 3.19 | 3.72 | 3.99 | 4.60 | 4.71 | 5.11 | 10.73 |
| Interest coverage | 13.9x | 16.4x | 11.3x | 11.2x | 8.3x | 10.6x | 10.5x | 9.6x | 8.7x | 3.1x |
| Equity multiplier | 1.97 | 1.83 | 1.80 | 1.92 | 1.94 | 2.01 | 1.87 | 1.89 | 1.94 | 1.99 |
| Liabilities / Assets | 0.49 | 0.45 | 0.45 | 0.48 | 0.48 | 0.50 | 0.47 | 0.47 | 0.48 | 0.50 |
| Efficiency | ||||||||||
| Asset turnover | 0.22 | 0.21 | 0.20 | 0.20 | 0.18 | 0.19 | 0.19 | 0.19 | 0.20 | 0.18 |
| Inventory turnover | 1.10 | 1.02 | 1.02 | 1.01 | 0.92 | 1.01 | 1.04 | 1.04 | 1.15 | 0.98 |
| Days sales outstanding | 180d | 152d | 190d | 205d | 173d | 197d | 232d | 224d | 221d | 208d |
| Days inventory outstanding | 332d | 357d | 359d | 360d | 396d | 360d | 353d | 351d | 317d | 371d |
| Days payable outstanding | 144d | 140d | 159d | 153d | 140d | 170d | 157d | 159d | 143d | 144d |
| Cash conversion cycle | 367d | 369d | 390d | 412d | 429d | 387d | 427d | 416d | 395d | 435d |
| Valuation | ||||||||||
| P / E | 163.4x | 139.3x | 143.6x | 102.5x | 117.2x | 105.2x | 98.8x | 93.2x | 90.7x | 167.9x |
| P / B | 8.7x | 7.2x | 6.1x | 4.8x | 4.6x | 4.9x | 4.1x | 3.8x | 3.7x | 3.0x |
| P / S | 20.1x | 18.7x | 17.0x | 12.7x | 13.2x | 12.6x | 11.5x | 10.7x | 9.6x | 8.3x |
| EV / EBITDA | 112.2x | 94.0x | 105.6x | 73.6x | 80.0x | 77.1x | 70.4x | 64.4x | 64.6x | 106.7x |
| Growth | ||||||||||
| Revenue growth (YoY) | 23.4% | 29.0% | 8.0% | 5.8% | -1.8% | 5.9% | 16.3% | - | 30.3% | 22.4% |
| Revenue CAGR (3y) | 14.9% | - | 14.2% | 14.6% | 7.7% | 15.0% | 12.8% | 13.5% | 15.2% | -0.1% |
| Revenue CAGR (5y) | 13.4% | 13.1% | 11.8% | 4.2% | 1.4% | 2.4% | 1.9% | 3.8% | 6.4% | 5.5% |
| Gross profit growth (YoY) | 31.6% | 54.1% | 8.3% | 2.4% | -7.2% | 12.5% | 47.4% | - | 52.6% | 19.2% |
| Operating income growth (YoY) | 25.9% | 66.1% | 3.9% | 10.2% | -7.2% | 15.5% | 199.8% | - | 110.3% | -25.6% |
| Net income growth (YoY) | 23.0% | 53.5% | 6.2% | 11.7% | -3.3% | 20.7% | 174.7% | - | 114.5% | -25.9% |
| EPS growth (YoY) | 23.0% | 52.8% | 8.0% | 14.1% | -2.7% | 19.0% | 169.0% | - | 114.1% | -21.6% |
| EPS CAGR (3y) | 55.7% | - | 40.1% | 34.0% | 42.6% | 30.1% | 14.5% | 31.6% | 31.0% | -25.6% |
| EPS CAGR (5y) | 16.1% | 27.7% | 23.6% | 4.8% | 11.3% | 9.8% | 5.4% | 13.7% | 12.2% | -0.7% |
| FCF growth (YoY) | - | 7363.7% | - | - | -81.1% | - | - | - | - | - |
| FCF CAGR (5y) | - | -12.8% | - | - | -37.9% | - | - | - | - | - |
| Book value growth (YoY) | 8.0% | 17.2% | 17.9% | 0.3% | 0.8% | 5.1% | 15.8% | - | 8.9% | -1.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-09-30.
Business segments
$1.63B totalAerospace$916.67M · 56.3%
Industrial$712.63M · 43.7%
Product / service
$3.57B totalCommercial Services$823.55M · 23.1%
Commercial OEM$690.96M · 19.4%
Defense OEM$561.29M · 15.7%
Transportation$507.38M · 14.2%
Power Generation$488.94M · 13.7%
Oil And Gas$257.94M · 7.2%
Defense Services$237.01M · 6.6%
Geographic
$2.31B totalUS$1.59B · 68.5%
Europe Excluding Germany$224.30M · 9.7%
Other Countries$220.29M · 9.5%
CN$148.19M · 6.4%
DE$72.88M · 3.2%
Asia Excluding China$61.97M · 2.7%
Peer comparison
Same SIC group: Electrical Industrial Apparatus
Comparing Woodward against the 5 most active filers in the same SIC group.
Dividends
$1.20/share trailing 12 months · +13.2% YoY
| Ex-date | Per share |
|---|---|
| May 21, 2026 | $0.3200 |
| Feb 19, 2026 | $0.3200 |
| Nov 20, 2025 | $0.2800 |
| Aug 21, 2025 | $0.2800 |
| May 22, 2025 | $0.2800 |
| Feb 20, 2025 | $0.2800 |
| Nov 21, 2024 | $0.2500 |
| Aug 22, 2024 | $0.2500 |
| May 21, 2024 | $0.2500 |
| Feb 16, 2024 | $0.2500 |
| Nov 17, 2023 | $0.2200 |
| Aug 11, 2023 | $0.2200 |
| May 19, 2023 | $0.2200 |
| Feb 17, 2023 | $0.2200 |
| Nov 10, 2022 | $0.1900 |
| Aug 12, 2022 | $0.1900 |
| May 16, 2022 | $0.1900 |
| Feb 17, 2022 | $0.1900 |
| Nov 12, 2021 | $0.1630 |
| Aug 13, 2021 | $0.1630 |
| May 17, 2021 | $0.1630 |
| Feb 19, 2021 | $0.1630 |
| Nov 13, 2020 | $0.0810 |
| Aug 14, 2020 | $0.0810 |