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Woodward Inc Financials

WWD
Trailing 12 months to June 30, 2026
Revenue $4.2B +22.3% YoY
Net Income $552.0M +42.4% YoY
EPS (Diluted) $8.99 +42.2% YoY
Free Cash Flow $376.5M +35.9% YoY
Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended Jun 30, 2026 Reported Currency USD FYE September

Woodward Inc (WWD) reported $4.2B in revenue over the twelve months to Jun 30, 2026, up 22.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI WWD FY2025

Growth is translating into margin expansion and deleveraging, but rising capital investment is keeping free cash flow below operating cash generation.

In FY2025, gross margin reached 26.8% and net margin 12.4%; their improvement from FY2021 shows earnings advanced faster than sales, consistent with a richer mix or better cost absorption rather than volume alone. Operating cash flow exceeded net income in FY2025, yet free cash flow was $340M while capital expenditures reached $131M, so reinvestment—not accrual conversion—absorbed the incremental cash.

Debt-to-equity fell to 0.2x in FY2025 from 0.3x in FY2023, while liabilities declined despite asset growth; the company is relying less on borrowing as its balance sheet expands. The current ratio recovered to 2.1x from 1.9x in FY2024, indicating short-term flexibility improved after tightening rather than rising steadily.

Capital expenditures rose to $131M in FY2025 from $96M in FY2024, increasing the cash reinvestment burden. That pressure left free-cash-flow margin at 9.5%, while inventory reached $655M; the combination suggests growth is tying up funds in both equipment and stock.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 45 / 100
Financial Health Score 45/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Woodward Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
0

Not available for Woodward Inc, and counted as zero in the overall score.

Growth
67

Woodward Inc's revenue grew 7.3% year-over-year to $3.6B, a solid pace of expansion. This earns a growth score of 67/100.

Leverage
76

Woodward Inc carries a low D/E ratio of 0.18, meaning only $0.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 76/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
59

Woodward Inc's current ratio of 2.08 indicates adequate short-term liquidity, earning a score of 59/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
66

Woodward Inc converts 9.5% of revenue into free cash flow ($340.4M). This strong cash generation earns a score of 66/100.

Returns
0

Not available for Woodward Inc, and counted as zero in the overall score.

Piotroski F-Score Strong
8/9

Woodward Inc passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
1.07x

For every $1 of reported earnings, Woodward Inc generates $1.07 in operating cash flow ($471.3M OCF vs $442.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$3.6B
YoY+7.3%
5Y CAGR+7.4%
10Y CAGR+5.8%

Woodward Inc generated $3.6B in revenue in fiscal year 2025. This represents an increase of 7.3% from the prior year.

Net Income
$442.1M
YoY+18.5%
5Y CAGR+13.0%
10Y CAGR+9.3%

Woodward Inc reported $442.1M in net income in fiscal year 2025. This represents an increase of 18.5% from the prior year.

EPS (Diluted)
$7.19
YoY+19.6%
5Y CAGR+14.0%
10Y CAGR+10.1%

Woodward Inc earned $7.19 per diluted share (EPS) in fiscal year 2025. This represents an increase of 19.6% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
$340.4M
YoY-0.7%
5Y CAGR+2.4%
10Y CAGR+43.2%

Woodward Inc generated $340.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 0.7% from the prior year.

Cash & Debt
$327.4M
YoY+16.0%
5Y CAGR+16.4%
10Y CAGR+14.8%

Woodward Inc held $327.4M in cash against $457.0M in long-term debt as of fiscal year 2025.

Dividends Per Share
$1.09
YoY+12.4%
5Y CAGR+12.5%
10Y CAGR+11.1%

Woodward Inc paid $1.09 per share in dividends in fiscal year 2025. This represents an increase of 12.4% from the prior year.

Shares Outstanding
60M
YoY+1.2%
5Y CAGR-0.9%
10Y CAGR-0.5%

Woodward Inc had 60M shares outstanding in fiscal year 2025. This represents an increase of 1.2% from the prior year.

Margins & Returns

Gross Margin
26.8%
YoY+0.4pp
5Y CAGR+1.2pp
10Y CAGR-1.4pp

Woodward Inc's gross margin was 26.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.4 percentage points from the prior year.

Net Margin
12.4%
YoY+1.2pp
5Y CAGR+2.8pp
10Y CAGR+3.5pp

Woodward Inc's net profit margin was 12.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.2 percentage points from the prior year.

Return on Equity
17.2%
YoY+0.1pp
5Y CAGR+5.2pp
10Y CAGR+1.5pp

Woodward Inc's ROE was 17.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the prior year.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending
$147.6M
YoY+4.9%
5Y CAGR+2.1%
10Y CAGR+0.9%

Woodward Inc invested $147.6M in research and development in fiscal year 2025. This represents an increase of 4.9% from the prior year.

Share Buybacks
$172.9M
YoY-55.8%
5Y CAGR+66.9%
10Y CAGR+0.9%

Woodward Inc spent $172.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 55.8% from the prior year.

Capital Expenditures
$130.9M
YoY+36.0%
5Y CAGR+22.7%
10Y CAGR-7.5%

Woodward Inc invested $130.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 36.0% from the prior year.

WWD Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

WWD quarterly income statement
MetricQ3'26Q2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24
Revenue$1.1B+1.8%$1.1B+9.4%$996.5M+0.1%$995.3M+8.7%$915.4M+3.6%$883.6M+14.4%$772.7M-9.6%$854.5M
Cost of Revenue$759.8M-1.9%$774.7M+10.0%$704.3M-1.9%$717.9M+7.7%$666.3M+3.5%$643.5M+10.4%$583.1M-9.8%$646.7M
Gross Profit$349.9M+10.8%$315.9M+8.1%$292.2M+5.3%$277.4M+11.3%$249.2M+3.8%$240.1M+26.6%$189.6M-8.7%$207.8M
R&D Expenses$49.3M+6.9%$46.1M+22.2%$37.8M-3.3%$39.0M-5.0%$41.1M+10.4%$37.2M+23.2%$30.2M-12.9%$34.7M
SG&A Expenses$106.5M+4.1%$102.3M+7.7%$95.0M+8.5%$87.6M-1.3%$88.7M+5.8%$83.8M+20.3%$69.7M-10.3%$77.7M
Interest Expense$14.8M+23.2%$12.0M+16.3%$10.3M+1.2%$10.2M-9.0%$11.2M-5.5%$11.9M-3.7%$12.3M-8.4%$13.5M
Income Tax$46.8M+40.2%$33.4M-5.7%$35.4M+60.1%$22.1M+20.4%$18.4M-23.4%$24.0M+62.7%$14.8M-19.0%$18.2M
Net Income$146.7M+9.4%$134.0M+0.2%$133.7M-2.8%$137.6M+26.9%$108.4M-0.5%$108.9M+25.1%$87.1M+4.6%$83.3M
EPS (Diluted)$2.40+9.6%$2.19+0.9%$2.17-2.7%$2.23+26.7%$1.76-1.1%$1.78+25.4%$1.42+4.4%$1.36

Not reported in any period shown, so not listed: Operating Income.

WWD Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

WWD quarterly balance sheet
MetricQ3'26Q2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24
Total Assets$5.2B+4.6%$5.0B+5.0%$4.7B+2.2%$4.6B-1.7%$4.7B+4.9%$4.5B+5.0%$4.3B-2.0%$4.4B
Current Assets$2.3B+2.9%$2.3B+10.9%$2.0B+8.7%$1.9B-8.6%$2.1B+7.8%$1.9B+10.9%$1.7B-1.1%$1.7B
Cash & Equivalents$474.9M-5.3%$501.2M+10.3%$454.2M+38.7%$327.4M-30.8%$473.2M+29.9%$364.1M+28.3%$283.7M+0.5%$282.3M
Inventory$724.8M+2.9%$704.5M+2.2%$689.2M+5.3%$654.6M-0.4%$657.1M+3.6%$634.5M+0.4%$632.0M+3.8%$609.1M
Accounts Receivable$617.9M+15.2%$536.5M+29.6%$413.8M-13.3%$477.3M+0.4%$475.3M-4.1%$495.7M+35.0%$367.1M-19.7%$457.2M
Goodwill$894.0M+8.3%$825.5M-0.8%$832.1M0.0%$832.3M+2.3%$813.8M+2.8%$792.0M+1.3%$781.9M-3.1%$806.6M
Total Liabilities$2.7B+11.4%$2.4B+13.8%$2.1B+4.0%$2.1B-8.0%$2.2B+4.1%$2.2B+4.0%$2.1B-5.5%$2.2B
Current Liabilities$1.4B+8.3%$1.3B+31.3%$999.1M+10.1%$907.4M-10.2%$1.0B+3.1%$979.7M+7.1%$914.8M-0.9%$923.5M
Long-Term Debt$617.7M+36.3%$453.4M-0.8%$457.0M0.0%$457.0M-9.3%$503.9M+2.9%$489.8M+1.4%$483.2M-15.2%$569.8M
Total Equity$2.5B-2.0%$2.5B-2.4%$2.6B+0.8%$2.6B+4.0%$2.5B+5.6%$2.3B+5.8%$2.2B+1.5%$2.2B
Retained Earnings$4.0B+3.3%$3.8B+3.1%$3.7B+3.2%$3.6B+3.5%$3.5B+2.7%$3.4B+2.8%$3.3B+2.2%$3.2B

WWD Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

WWD quarterly cash flow statement
MetricQ3'26Q2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24
Operating Cash Flow$146.7M+61.5%$90.8M-20.6%$114.4M-51.0%$233.3M+85.7%$125.6M+61.4%$77.8M+125.5%$34.5M-75.7%$141.8M
Capital Expenditures$59.6M+13.4%$52.6M+19.2%$44.1M-15.8%$52.4M+97.4%$26.5M+44.2%$18.4M-45.1%$33.6M+39.4%$24.1M
Free Cash Flow$87.1M+127.7%$38.2M-45.6%$70.3M-61.1%$180.9M+82.6%$99.1M+66.8%$59.4M+6206.7%$942K-99.2%$117.7M
Investing Cash Flow-$187.3M-266.4%-$51.1M-5.8%-$48.3M+47.5%-$92.0M-293.6%-$23.4M-183.6%$28.0M+187.1%-$32.1M-53.0%-$21.0M
Financing Cash Flow$14.3M+0.4%$14.3M-76.3%$60.2M+120.9%-$287.8M-3276.3%-$8.5M+77.0%-$37.0M-290.8%$19.4M+112.2%-$159.1M
Share Buybacks$198.1M-12.3%$225.9M+74.6%$129.4M+166.3%$48.6M+8.5%$44.8M+1.7%$44.0M+24.1%$35.5M-58.8%$86.0M

Not reported in any period shown, so not listed: Dividends Paid.

WWD Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

WWD quarterly financial ratios
MetricQ3'26Q2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24
Gross Margin31.5%+2.6pp29.0%-0.4pp29.3%+1.5pp27.9%+0.7pp27.2%+0.1pp27.2%+2.6pp24.5%+0.2pp24.3%
Net Margin13.2%+0.9pp12.3%-1.1pp13.4%-0.4pp13.8%+2.0pp11.8%-0.5pp12.3%+1.1pp11.3%+1.5pp9.8%
Return on Equity5.9%+0.6pp5.3%+0.1pp5.2%-0.2pp5.4%+1.0pp4.4%-0.3pp4.7%+0.7pp3.9%+0.1pp3.8%
Return on Assets2.8%+0.1pp2.7%-0.1pp2.8%-0.2pp3.0%+0.7pp2.3%-0.1pp2.4%+0.4pp2.0%+0.1pp1.9%
Current Ratio1.65-0.1x1.73-0.3x2.050.0x2.080.0x2.04+0.1x1.95+0.1x1.890.0x1.89
Debt-to-Equity0.25+0.1x0.180.0x0.180.0x0.180.0x0.200.0x0.210.0x0.220.0x0.26
FCF Margin7.8%+4.3pp3.5%-3.5pp7.1%-11.1pp18.2%+7.4pp10.8%+4.1pp6.7%+6.6pp0.1%-13.6pp13.8%

Not reported in any period shown, so not listed: Operating Margin.

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Frequently Asked Questions

What is Woodward Inc's annual revenue?

Woodward Inc (WWD) reported $3.6B in total revenue for fiscal year 2025. This represents a 7.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Woodward Inc's revenue growing?

Woodward Inc (WWD) revenue grew by 7.3% year-over-year, from $3.3B to $3.6B in fiscal year 2025.

Is Woodward Inc profitable?

Yes, Woodward Inc (WWD) reported a net income of $442.1M in fiscal year 2025, with a net profit margin of 12.4%.

Woodward Inc (WWD) reported diluted earnings per share of $7.19 for fiscal year 2025. This represents a 19.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

As of fiscal year 2025, Woodward Inc (WWD) had $327.4M in cash and equivalents against $457.0M in long-term debt.

Woodward Inc (WWD) had a gross margin of 26.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Woodward Inc (WWD) had a net profit margin of 12.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Woodward Inc (WWD) paid $1.09 per share in dividends during fiscal year 2025.

Woodward Inc (WWD) has a return on equity of 17.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Woodward Inc (WWD) generated $340.4M in free cash flow during fiscal year 2025. This represents a -0.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Woodward Inc (WWD) generated $471.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Woodward Inc (WWD) had $4.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Woodward Inc (WWD) invested $130.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Woodward Inc (WWD) invested $147.6M in research and development during fiscal year 2025.

Yes, Woodward Inc (WWD) spent $172.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Woodward Inc (WWD) had 60M shares outstanding as of fiscal year 2025.

Woodward Inc (WWD) had a current ratio of 2.08 as of fiscal year 2025, which is generally considered healthy.

Woodward Inc (WWD) had a debt-to-equity ratio of 0.18 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Woodward Inc (WWD) had a return on assets of 9.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Woodward Inc (WWD) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Woodward Inc (WWD) has an earnings quality ratio of 1.07x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Woodward Inc (WWD) scores 45 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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