Curtiss-Wright Corporation

CWCurtiss-Wright Corporation US flag

New York Stock Exchange

721.12

USD

+1.13

- -

26.64BMarket Cap

Income Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	2,017	1,823	2,118	2,243	2,206	2,109	2,271	2,412	2,488	2,391	2,501	2,557	2,845	3,121	3,498
+ Sales & Services Revenue	2,017	1,823	2,118	2,243	2,206	2,109	2,271	2,412	2,488	2,391	2,501	2,557	2,845	3,121	3,498
- Cost of Revenue	1,360	1,211	1,382	1,467	1,422	1,374	1,470	1,541	1,589	1,550	1,573	1,602	1,778	1,968	2,197
+ Cost of Goods & Services	1,360	1,211	1,382	1,467	1,422	1,374	1,470	1,541	1,589	1,550	1,573	1,602	1,778	1,968	2,197
Gross Profit	657	612	736	777	783	735	801	871	899	841	928	955	1,067	1,154	1,302
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	470	431	499	494	473	438	476	498	495	488	532	527	583	611	664
+ Selling, General & Admin	408	377	435	426	412	379	414	433	422	413	443	446	497	519	568
+ Research & Development	62	54	64	68	61	59	61	65	73	75	88	81	86	92	95
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	187	181	237	282	311	297	325	374	404	354	396	428	485	543	638
- Non-Operating (Income) Loss	20	26	36	282	311	297	325	374	404	354	47	428	485	543	638
+ Interest Expense, Net	21	26	37	36	36	41	41	34	31	36	40	47	51	45	43
+ Interest Expense	21	26	37	36	36	41	41	34	31	36	40	47	51	45	43
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-1	- -	-1	247	275	255	284	340	373	318	7	381	433	498	595
Pretax Income	167	155	201	- -	- -	- -	- -	- -	- -	- -	349	- -	- -	- -	- -
- Income Tax Expense (Benefit)	48	51	62	77	83	79	85	80	89	62	86	95	109	117	136
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	119	104	139	170	192	189	215	276	308	201	263	294	355	405	484
- Net Extraordinary Losses (Gains)	-8	-10	1	57	47	2	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	8	10	-1	-57	-47	-2	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-16	-20	3	113	94	4	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	126	114	138	113	145	187	215	276	308	201	263	294	355	405	484
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	126	114	138	113	145	187	215	276	308	201	263	294	355	405	484
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	126	114	138	113	145	187	215	276	308	201	263	294	355	405	484
EBIT	187	181	237	282	311	297	325	374	404	354	396	428	485	543	638
EBITDA	275	275	359	401	411	393	425	477	506	469	511	540	601	651	763
EBITDA Margin (%)	13.64	15.1	16.93	17.89	18.65	18.61	18.72	19.76	20.35	19.63	20.42	21.12	21.11	20.85	21.81
EBITA	187	181	237	282	311	297	325	374	404	354	396	428	485	543	638
Gross Margin (%)	32.57	33.59	34.74	34.62	35.51	34.84	35.26	36.12	36.12	35.18	37.1	37.33	37.51	36.96	37.2
Operating Margin (%)	9.27	9.95	11.2	12.59	14.08	14.06	14.32	15.49	16.24	14.79	15.84	16.74	17.03	17.4	18.24
Profit Margin (%)	6.27	6.24	6.51	5.05	6.59	8.88	9.46	11.43	12.36	8.42	10.51	11.51	12.46	12.98	13.84
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.32	0.35	0.39	0.52	0.52	0.52	0.56	0.6	0.66	0.68	0.71	0.75	0.79	0.83	0.93
Depreciation Expense	88	94	121	119	101	96	100	103	102	116	114	112	116	108	125
Basic Weighted Avg Shares	46	47	47	48	47	44	44	44	43	42	40	38	38	38	37
Basic EPS, GAAP	2.73	2.44	2.94	2.36	3.12	4.22	4.86	6.28	7.2	4.83	6.5	7.67	9.26	10.61	12.94
Basic EPS from Cont Ops	2.56	2.23	2.97	3.54	4.12	4.27	4.86	6.28	7.2	4.83	6.5	7.67	9.26	10.61	12.94
Diluted Weighted Avg Shares	47	47	48	49	48	45	45	44	43	42	41	39	39	38	38
Diluted EPS, GAAP	2.69	2.4	2.88	2.31	3.05	4.16	4.8	6.22	7.15	4.8	6.47	7.62	9.2	10.55	12.87
Diluted EPS from Cont Ops	2.52	2.2	2.91	3.46	4.04	4.2	4.8	6.22	7.15	4.8	6.47	7.62	9.2	10.55	12.87

Balance Sheet (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	1,151	1,176	1,337	1,571	1,275	1,415	1,402	1,344	1,530	1,301	1,308	1,516	1,717	1,850	2,018
+ Cash, Cash Equivalents & STI	194	112	175	450	289	554	475	276	391	198	171	257	407	385	371
+ Cash & Cash Equivalents	194	112	175	450	289	554	475	276	391	198	171	257	407	385	371
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	543	578	604	495	566	463	495	594	632	589	647	723	733	835	932
+ Accounts Receivable, Net	362	396	438	358	430	335	356	383	410	361	362	413	428	480	526
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	181	182	166	138	137	128	139	211	222	227	285	311	305	355	406
+ Inventories	313	397	452	389	380	367	379	423	425	429	412	483	510	541	615
+ Raw Materials	169	225	231	202	197	189	192	214	154	178	191	242	239	262	288
+ Work In Process	90	93	114	89	79	74	74	75	100	81	78	76	104	108	131
+ Finished Goods	82	107	117	104	115	112	114	143	108	121	99	128	126	135	147
+ Inventory Adjustments	-62	-65	-70	-66	-63	-66	-66	-63	-8	-7	-5	-3	-2	- -	- -
+ Other Inventory	35	38	59	59	52	58	65	54	70	57	49	40	43	36	50
+ Other ST Assets	100	88	106	237	40	31	53	51	82	85	78	53	68	88	100
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	1,485	1,939	2,121	1,828	1,715	1,623	1,834	1,911	2,234	2,721	2,796	2,932	2,904	3,136	3,203
+ Property, Plant & Equip, Net	443	490	516	459	414	389	390	375	551	529	504	497	474	508	581
+ Property, Plant & Equip	893	954	1,043	991	978	987	1,038	1,046	1,268	1,286	1,286	1,290	1,316	1,364	1,463
- Accumulated Depreciation	450	465	528	532	564	598	648	672	717	757	783	794	842	856	883
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	1,042	1,449	1,605	1,370	1,301	1,234	1,444	1,537	1,683	2,191	2,292	2,436	2,430	2,628	2,622
+ Total Intangible Assets	1,021	1,432	1,582	1,348	1,283	1,223	1,426	1,518	1,647	2,065	2,001	2,166	2,116	2,273	2,225
+ Goodwill	759	1,013	1,110	999	973	951	1,096	1,088	1,167	1,455	1,463	1,545	1,559	1,676	1,692
+ Other Intangible Assets	261	419	471	349	311	271	330	430	480	610	538	621	558	597	532
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	21	17	23	22	18	12	18	19	37	127	291	270	313	355	397
Total Assets	2,636	3,115	3,458	3,400	2,990	3,038	3,236	3,255	3,764	4,021	4,104	4,448	4,621	4,986	5,221
+ Payables & Accruals	199	231	248	227	219	242	234	287	275	252	260	353	301	304	381
+ Accounts Payable	150	158	187	152	163	178	185	233	222	201	212	267	244	247	310
+ Accrued Taxes	8	11	1	22	8	18	5	6	8	7	3	35	10	5	12
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	40	63	60	52	48	46	44	48	45	44	45	52	47	52	58
+ ST Debt	3	128	1	1	1	151	- -	- -	27	127	25	232	31	120	232
+ ST Borrowings	3	128	1	1	1	151	- -	- -	- -	100	- -	202	- -	90	200
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	27	27	25	30	31	30	32
+ Other ST Liabilities	311	280	285	344	302	282	357	400	443	431	450	396	475	672	793
+ Deferred Revenue	206	172	164	177	182	170	215	237	276	253	260	255	304	459	561
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	2	2	3	2	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	103	107	118	165	119	112	142	163	167	178	190	141	171	213	232
Total Current Liabilities	512	640	535	572	523	675	591	687	745	810	735	981	807	1,096	1,406
+ LT Debt	584	752	959	953	952	816	814	762	906	1,082	1,170	1,178	1,165	1,107	936
+ LT Borrowings	584	752	959	953	952	816	814	762	761	949	1,043	1,046	1,046	959	758
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	145	133	127	132	119	148	178
+ Other LT Liabilities	334	410	412	396	259	256	304	275	339	341	372	308	321	333	346
+ Accrued Liabilities	25	50	124	52	54	50	49	47	80	115	147	123	132	141	154
+ Pension Liabilities	233	264	139	227	104	107	121	101	139	98	91	58	67	67	71
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	77	96	150	118	101	99	133	127	121	128	133	127	122	125	120
Total Noncurrent Liabilities	918	1,162	1,371	1,349	1,211	1,071	1,118	1,037	1,245	1,423	1,542	1,486	1,486	1,440	1,282
Total Liabilities	1,431	1,802	1,906	1,921	1,734	1,747	1,709	1,725	1,990	2,234	2,277	2,467	2,293	2,536	2,688
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	192	201	200	207	194	179	170	167	165	172	176	184	189	197	214
+ Common Stock	49	49	49	49	49	49	49	49	49	49	49	49	49	49	49
+ Additional Paid in Capital	143	152	151	158	145	129	121	118	116	123	127	135	140	148	165
- Treasury Stock	86	94	53	70	303	351	369	540	563	744	1,068	1,107	1,135	1,365	1,817
+ Retained Earnings	1,164	1,261	1,381	1,469	1,591	1,755	1,944	2,191	2,497	2,670	2,909	3,163	3,488	3,861	4,311
+ Other Equity	-65	-56	25	-128	-226	-292	-217	-288	-325	-311	-190	-259	-213	-243	-174
Equity Before Minority Interest	1,205	1,313	1,553	1,478	1,255	1,291	1,528	1,531	1,774	1,788	1,826	1,981	2,328	2,450	2,534
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	1,205	1,313	1,553	1,478	1,255	1,291	1,528	1,531	1,774	1,788	1,826	1,981	2,328	2,450	2,534
Total Liabilities & Equity	2,636	3,115	3,458	3,400	2,990	3,038	3,236	3,255	3,764	4,021	4,104	4,448	4,621	4,986	5,221
Shares Outstanding	46	46	48	48	45	44	44	43	43	41	38	38	38	38	37
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	172	160	153	162	149	178	210
Net Debt	392	768	785	504	665	412	339	486	370	851	872	991	639	664	587
Net Debt to Equity	32.54	58.52	50.53	34.11	52.93	31.94	22.19	31.78	20.83	47.58	47.74	50.04	27.45	27.1	23.15
Tangible Common Equity Ratio	11.4	-7.12	-1.55	6.37	-1.64	3.78	5.62	0.76	6.03	-14.17	-8.31	-8.07	8.46	6.53	10.3
Current Ratio	2.25	1.84	2.5	2.75	2.44	2.1	2.37	1.96	2.05	1.61	1.78	1.55	2.13	1.69	1.44
Cash Conversion Cycle	75.35	139.56	140.23	125.23	122.95	119.59	103.4	102.79	103.39	109.7	101.87	105.06	104.24	105.77	103.76

Cash Flow Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	126	114	138	113	145	187	215	276	308	201	263	294	355	405	484
+ Depreciation & Amortization	88	94	121	119	101	96	100	103	102	116	114	112	116	108	125
+ Non-Cash Items	22	-29	8	49	134	10	4	9	39	58	22	-8	17	11	37
+ Stock-Based Compensation	10	9	7	8	9	9	12	14	14	14	13	15	17	19	22
+ Deferred Income Taxes	3	-4	6	-27	64	1	-6	9	41	-7	-10	-24	3	-12	15
+ Asset Impairment Charge	- -	4	1	45	41	- -	- -	- -	- -	33	19	- -	- -	- -	- -
+ Other Non-Cash Adj	9	-38	-6	23	20	- -	-2	-14	-16	17	-1	- -	-3	4	1
+ Chg in Non-Cash Work Cap	-35	-27	-30	51	-217	129	70	-51	-27	-114	-11	-103	-39	20	-3
+ (Inc) Dec in Accts Receiv	-79	27	7	13	-77	92	-16	-57	-13	71	-61	-76	-2	-89	-83
+ (Inc) Dec in Inventories	-21	-30	-25	-19	-4	4	20	-41	-3	16	14	-63	-22	-34	-63
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	16	-7	9	16	- -	4	4	49	-19	-56	18	98	-16	16	74
+ Inc (Dec) in Other	49	-16	-19	41	-136	29	62	-1	8	-145	19	-63	- -	128	69
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	202	152	238	332	162	423	389	336	421	261	388	295	448	544	643
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	2	3	1	1	2	4	7	9	15	3	4	10	9	3	1
+ Disp of Fixed Prod Assets	2	3	1	1	2	4	7	9	15	3	4	10	9	3	1
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-84	-85	-72	-67	-36	-47	-53	-55	-70	-47	-41	-38	-45	-61	-90
+ Acq of Fixed Prod Assets	-84	-83	-72	-67	-36	-47	-53	-53	-70	-47	-41	-38	-45	-61	-90
+ Acq of Intangible Assets	- -	-2	- -	- -	- -	- -	- -	-2	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-8	-26	- -	-65	-294	-105	-52	-199	-51	-200	-343	-57	-50	-250	-465
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-8	-26	- -	-65	-294	-105	-52	-199	-51	-200	-343	-57	-50	-250	-465
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-10	- -	- -	8
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-10	- -	- -	- -
+ Net Cash From Acq & Div	-170	-411	-243	118	18	- -	-226	-209	-185	-488	-5	-287	- -	-226	-10
+ Cash from Divestitures	8	52	- -	153	31	1	7	1	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-178	-463	-243	-35	-14	-1	-233	-210	-185	-488	-5	-287	- -	-226	-10
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	2	- -	- -	-1	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-252	-493	-314	53	-16	-43	-272	-256	-240	-533	-42	-326	-36	-283	-90
+ Dividends Paid	-15	-16	-18	-25	-24	-23	-25	-26	-28	-28	-29	-29	-30	-32	-35
+ Net Cash From Debt	190	562	-117	-101	-8	-1	-151	-50	- -	300	88	112	-202	- -	-90
+ Cash From Debt	1,303	1,154	2,466	729	141	16	15	746	75	1,441	912	3,695	1,276	21	475
+ Repayments of Debt	-1,113	-592	-2,583	-830	-149	-17	-166	-796	-76	-1,141	-824	-3,583	-1,479	-21	-565
+ Other Financing Activities	13	-265	276	98	37	33	14	11	11	10	-85	103	9	10	11
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	180	254	140	-92	-289	-96	-214	-264	-68	82	-369	129	-273	-271	-578
Effect of Foreign Exchange Rates	-4	4	-1	-18	-19	-19	19	-16	2	-4	-3	-12	11	-11	11
Net Changes in Cash	130	-86	64	293	-142	284	-98	-183	113	-189	-24	98	139	-11	-25
EBITDA	275	275	359	401	411	393	425	477	506	469	511	540	601	651	763
EBITDA Margin (%)	13.64	15.1	16.93	17.89	18.65	18.61	18.72	19.76	20.35	19.63	20.42	21.12	21.11	20.85	21.81
Free Cash Flow	118	68	166	265	127	376	336	281	352	214	347	257	403	483	554
Net Cash Paid for Acquisitions	170	411	243	-118	-18	- -	226	209	185	488	5	287	- -	226	10
Free Cash Flow to Firm	132	85	191	- -	- -	- -	- -	- -	- -	- -	377	- -	- -	- -	- -
Free Cash Flow to Equity	310	634	50	165	121	379	192	242	366	517	438	379	210	487	465
Free Cash Flow per Basic Share	2.53	1.45	3.52	5.51	2.72	8.48	7.61	6.41	8.23	5.12	8.57	6.68	10.54	12.67	14.8
Price/Free Cash Flow	5.8	6.56	9.62	8.68	16.47	9.43	12.36	11.57	12.34	15.83	13.13	19.38	17.42	22.5	28.3
Cash Flow to Net Income	1.6	1.34	1.72	2.93	1.12	2.26	1.81	1.22	1.37	1.3	1.47	1	1.26	1.34	1.33
Capital Expenditures	-84	-85	-72	-67	-36	-47	-53	-55	-70	-47	-41	-38	-45	-61	-90