Woodward, Inc.

WWD

WWDWoodward, Inc. US flag

NASDAQ Global Select

350.03

USD

+5.33

- -

20.86BMarket 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	1,712	1,866	1,936	2,001	2,038	2,023	2,099	2,326	2,900	2,496	2,246	2,383	2,915	3,324	3,567
+ Sales & Services Revenue	1,712	1,866	1,936	2,001	2,038	2,023	2,099	2,326	2,900	2,496	2,246	2,383	2,915	3,324	3,567
- Cost of Revenue	1,198	1,303	1,376	1,426	1,463	1,484	1,528	1,723	2,193	1,855	1,695	1,857	2,237	2,448	2,611
+ Cost of Goods & Services	1,198	1,303	1,376	1,426	1,463	1,484	1,528	1,723	2,193	1,855	1,695	1,857	2,237	2,448	2,611
Gross Profit	514	562	560	575	575	539	571	603	708	640	551	525	678	876	956
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	300	341	335	327	312	300	304	342	370	351	304	323	402	448	477
+ Selling, General & Admin	- -	- -	- -	- -	177	174	177	194	- -	- -	- -	- -	- -	- -	- -
+ Research & Development	116	143	130	138	134	126	127	148	159	133	117	120	132	141	148
+ Other Operating Expense	184	197	205	189	- -	- -	- -	- -	211	218	187	203	270	307	330
Operating Income (Loss)	214	222	224	248	264	239	267	261	337	289	247	203	276	428	479
- Non-Operating (Income) Loss	26	24	25	21	23	12	15	41	17	8	1	3	- -	-26	-43
+ Interest Expense, Net	25	25	26	23	24	25	34	39	43	34	33	33	45	42	42
+ Interest Expense	25	26	27	23	25	27	36	40	44	36	34	35	48	48	46
- Interest Income	1	1	- -	- -	1	2	2	2	1	2	1	2	3	6	4
+ Other Non-Op (Income) Loss	2	-2	-2	-1	-1	-12	-19	3	-26	-27	-31	-30	-45	-67	-84
Pretax Income	188	198	200	227	241	226	253	220	321	282	246	200	276	454	521
- Income Tax Expense (Benefit)	55	56	54	61	59	46	52	39	61	41	37	28	43	81	79
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	132	142	146	166	181	181	201	180	260	240	209	172	232	373	442
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	132	142	146	166	181	181	201	180	260	240	209	172	232	373	442
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	132	142	146	166	181	181	201	180	260	240	209	172	232	373	442
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	132	142	146	166	181	181	201	180	260	240	209	172	232	373	442
EBIT	214	222	224	248	264	239	267	261	337	289	247	203	276	428	479
EBITDA	289	290	299	326	339	308	348	377	479	421	377	323	396	544	592
EBITDA Margin (%)	16.91	15.56	15.42	16.28	16.64	15.22	16.59	16.22	16.52	16.85	16.77	13.56	13.57	16.38	16.6
EBITA	214	222	224	248	264	239	267	261	337	289	247	203	276	428	479
Gross Margin (%)	30	30.14	28.91	28.75	28.23	26.65	27.21	25.93	24.4	25.65	24.54	22.05	23.25	26.37	26.81
Operating Margin (%)	12.5	11.88	11.59	12.42	12.95	11.81	12.74	11.22	11.63	11.6	11	8.5	9.46	12.88	13.43
Profit Margin (%)	7.73	7.59	7.54	8.29	8.9	8.94	9.55	7.76	8.95	9.63	9.29	7.21	7.97	11.22	12.39
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.27	0.31	0.32	0.32	0.38	0.43	0.48	0.55	0.63	0.6	0.57	0.73	0.85	0.97	1.09
Depreciation Expense	75	69	74	77	75	69	81	116	142	131	130	121	120	116	113
Basic Weighted Avg Shares	69	69	68	66	65	62	61	61	62	62	63	62	60	60	60
Basic EPS, GAAP	1.92	2.06	2.13	2.5	2.81	2.92	3.27	2.93	4.19	3.86	3.3	2.79	3.88	6.21	7.42
Basic EPS from Cont Ops	1.92	2.06	2.13	2.5	2.81	2.92	3.27	2.93	4.19	3.86	3.3	2.79	3.88	6.21	7.42
Diluted Weighted Avg Shares	70	70	70	68	66	64	64	64	64	64	66	63	61	62	61
Diluted EPS, GAAP	1.89	2.01	2.1	2.45	2.75	2.85	3.16	2.82	4.02	3.74	3.18	2.71	3.78	6.01	7.19
Diluted EPS from Cont Ops	1.89	2.01	2.1	2.45	2.75	2.85	3.16	2.82	4.02	3.74	3.18	2.71	3.78	6.01	7.19

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	818	903	957	1,009	917	944	1,021	1,115	1,271	1,211	1,465	1,312	1,469	1,744	1,884
+ Cash, Cash Equivalents & STI	75	62	49	115	82	81	88	80	98	150	447	108	137	282	327
+ Cash & Cash Equivalents	75	62	49	115	82	81	88	80	98	150	447	108	137	282	327
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	300	362	395	353	344	364	422	438	600	567	535	615	764	792	833
+ Accounts Receivable, Net	298	362	317	292	326	341	368	423	382	356	322	369	485	457	477
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	2	- -	78	62	18	23	54	16	218	211	213	246	279	335	355
+ Inventories	382	398	432	452	448	462	474	550	517	438	420	514	518	609	655
+ Raw Materials	273	31	68	60	64	54	59	81	148	139	122	139	148	182	212
+ Work In Process	109	86	88	94	92	110	104	118	134	93	96	123	127	148	163
+ Finished Goods	- -	52	47	50	44	48	48	52	59	67	63	70	75	92	103
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	-112	-116	-121	-147	-160	-189	-206
+ Other Inventory	- -	229	230	247	248	249	263	299	287	256	260	330	328	376	383
+ Other ST Assets	62	82	82	88	44	38	39	47	57	56	63	75	50	60	70
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	964	956	1,261	1,389	1,595	1,698	1,736	2,676	2,685	2,692	2,626	2,494	2,541	2,625	2,746
+ Property, Plant & Equip, Net	71	235	350	513	756	876	922	1,060	1,059	997	951	910	913	941	987
+ Property, Plant & Equip	613	665	795	978	1,244	1,370	1,443	1,625	1,672	1,651	1,677	1,680	1,745	1,831	1,928
- Accumulated Depreciation	543	431	445	465	487	494	521	565	613	654	726	769	832	890	941
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	893	722	911	875	839	822	814	1,616	1,627	1,695	1,676	1,584	1,628	1,685	1,759
+ Total Intangible Assets	867	697	850	814	782	753	728	1,514	1,410	1,415	1,365	1,233	1,244	1,247	1,260
+ Goodwill	462	461	561	560	557	556	557	813	798	808	805	773	791	807	832
+ Other Intangible Assets	405	236	289	255	225	198	172	701	612	607	559	461	452	440	428
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	26	25	61	61	57	68	85	102	217	280	311	351	384	438	499
Total Assets	1,781	1,860	2,219	2,397	2,512	2,642	2,757	3,791	3,957	3,903	4,091	3,806	4,010	4,369	4,630
+ Payables & Accruals	181	261	283	315	317	311	378	423	455	263	333	438	505	561	610
+ Accounts Payable	123	125	146	161	173	169	233	226	240	134	171	231	234	287	289
+ Accrued Taxes	11	23	14	15	15	19	21	38	35	19	31	56	58	57	75
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	47	113	123	139	128	122	124	159	180	110	131	152	213	217	245
+ ST Debt	18	8	100	- -	2	150	33	154	220	102	1	68	76	303	245
+ ST Borrowings	18	8	100	- -	2	150	33	154	220	102	1	68	76	303	245
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	82	11	33	25	19	20	16	14	33	28	32	33	37	60	52
+ Deferred Revenue	8	7	6	6	10	12	11	10	28	25	30	31	34	57	49
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	74	3	26	19	9	7	5	5	5	3	3	3	3	3	3
Total Current Liabilities	281	280	416	340	338	481	427	591	707	392	366	539	617	924	907
+ LT Debt	407	384	450	710	848	577	580	1,092	865	751	749	731	666	592	477
+ LT Borrowings	407	384	450	710	848	577	580	1,092	865	737	734	710	646	570	457
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	15	15	21	21	23	20
+ Other LT Liabilities	175	188	210	186	173	372	378	569	657	767	761	635	656	677	679
+ Accrued Liabilities	86	78	113	103	76	258	285	419	500	539	552	531	553	554	545
+ Pension Liabilities	62	80	40	39	55	70	52	91	111	114	107	70	73	83	88
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	27	29	57	44	42	43	41	59	46	114	102	34	30	40	46
Total Noncurrent Liabilities	581	572	660	896	1,021	949	958	1,661	1,522	1,518	1,510	1,366	1,322	1,269	1,156
Total Liabilities	862	852	1,076	1,236	1,359	1,430	1,386	2,253	2,230	1,911	1,876	1,905	1,939	2,192	2,064
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	82	98	101	113	131	142	164	186	207	232	262	294	328	397	482
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	81	98	101	112	131	142	164	186	207	232	262	294	328	397	482
- Treasury Stock	120	152	172	291	426	518	567	548	611	587	590	1,034	1,098	1,413	1,508
+ Retained Earnings	950	1,070	1,194	1,338	1,495	1,650	1,820	1,967	2,225	2,428	2,601	2,727	2,909	3,223	3,600
+ Other Equity	4	-12	15	-4	-51	-66	-53	-75	-103	-90	-66	-93	-71	-33	-10
Equity Before Minority Interest	919	1,008	1,143	1,161	1,153	1,213	1,371	1,538	1,727	1,993	2,215	1,901	2,071	2,176	2,566
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	919	1,008	1,143	1,161	1,153	1,213	1,371	1,538	1,727	1,993	2,215	1,901	2,071	2,176	2,566
Total Liabilities & Equity	1,781	1,860	2,219	2,397	2,512	2,642	2,757	3,791	3,957	3,903	4,091	3,806	4,010	4,369	4,630
Shares Outstanding	69	68	68	66	63	62	61	62	62	62	63	60	60	59	60
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	15	15	21	21	23	20
Net Debt	351	330	501	595	769	646	525	1,166	987	689	288	670	584	590	375
Net Debt to Equity	38.16	32.77	43.89	51.23	66.66	53.28	38.31	75.81	57.18	34.56	13.02	35.22	28.2	27.12	14.6
Tangible Common Equity Ratio	5.7	26.76	21.36	21.89	21.44	24.31	31.69	1.05	12.44	23.22	31.18	25.96	29.9	29.77	38.76
Current Ratio	2.91	3.23	2.3	2.97	2.71	1.97	2.39	1.89	1.8	3.09	4	2.43	2.38	1.89	2.08
Cash Conversion Cycle	128.48	139.34	139.02	129.96	125.75	130.27	125.69	123.84	99.97	109.4	114.29	107.17	99.82	98.26	96.52

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	132	142	146	166	181	181	201	180	260	240	209	172	232	373	442
+ Depreciation & Amortization	75	69	74	77	75	69	81	116	142	131	130	121	120	116	113
+ Non-Cash Items	-6	1	13	- -	29	208	36	-13	10	8	5	-5	-15	-12	-39
+ Stock-Based Compensation	7	9	9	11	14	15	17	18	18	23	21	20	23	33	32
+ Deferred Income Taxes	-10	-4	8	-7	16	-53	23	-30	-10	1	-12	-23	-40	-45	-52
+ Asset Impairment Charge	- -	- -	- -	3	- -	- -	- -	- -	- -	38	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	-3	-4	-5	-7	-1	246	-4	-1	2	-54	-4	-2	1	- -	-19
+ Chg in Non-Cash Work Cap	-87	-67	-10	30	10	-23	-10	16	-21	-30	121	-94	-28	-38	-45
+ (Inc) Dec in Accts Receiv	-49	-59	-10	31	15	-9	-53	-6	-31	30	25	-99	-137	-15	-50
+ (Inc) Dec in Inventories	-77	-19	-1	-28	-9	-18	-11	-8	-49	61	19	-110	3	-85	-50
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	28	12	16	26	3	17	65	-2	48	-153	62	123	67	64	57
+ Inc (Dec) in Other	12	-1	-15	1	1	-13	-11	33	11	32	16	-8	38	-1	-2
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	115	144	223	274	296	435	308	299	391	349	465	194	309	439	471
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-48	-65	-142	-207	-287	-176	-92	-127	-99	-47	-38	-53	-76	-96	-131
+ Acq of Fixed Prod Assets	-48	-65	-142	-207	-287	-176	-92	-127	-99	-47	-38	-53	-76	-96	-131
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-4	-38	-37	-133	-150	-110	-58	9	-74	12	1	-463	-76	-301	-68
+ Increase in Capital Stock	2	6	8	10	8	16	14	9	36	25	35	22	51	90	105
+ Decrease in Capital Stock	-7	-44	-46	-143	-159	-126	-72	- -	-110	-13	-33	-485	-126	-391	-173
+ Net Change in LT Investment	8	- -	- -	- -	- -	-5	-3	- -	-4	- -	2	3	2	3	3
+ Dec in LT Investment	8	- -	- -	- -	- -	- -	5	9	22	13	17	13	8	10	3
+ Inc in LT Investment	- -	- -	- -	- -	- -	-5	-9	-9	-27	-13	-14	-10	-6	-7	- -
+ Net Cash From Acq & Div	-47	- -	-199	- -	- -	- -	- -	-771	- -	10	- -	-16	1	2	8
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	10	- -	6	1	2	50
+ Cash for Acq of Subs	-47	- -	-199	- -	- -	- -	- -	-771	- -	- -	- -	-22	- -	- -	-42
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	1	3	7	4	2	1	30	- -	- -	- -	2	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-87	-65	-340	-206	-284	-174	-92	-897	-103	-7	-35	-65	-74	-89	-120
+ Dividends Paid	-19	-21	-22	-21	-25	-27	-30	-34	-39	-38	-36	-45	-51	-58	-65
+ Net Cash From Debt	-37	-33	158	160	143	-124	-125	638	-150	-264	-102	133	-134	141	-181
+ Cash From Debt	165	188	379	681	1,000	874	1,506	2,330	1,684	1,248	74	1,904	4,647	2,963	2,286
+ Repayments of Debt	-201	-221	-221	-521	-857	-998	-1,631	-1,692	-1,834	-1,512	-176	-1,771	-4,781	-2,822	-2,467
+ Other Financing Activities	4	2	4	-1	-2	-1	- -	-7	-2	- -	- -	-67	65	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-56	-90	102	4	-34	-261	-212	606	-266	-290	-136	-442	-196	-218	-314
Effect of Foreign Exchange Rates	-3	-2	2	-5	-11	-2	3	-13	-7	2	2	-26	-9	13	7
Net Changes in Cash	-28	-11	-15	72	-22	- -	4	9	22	52	293	-314	39	132	38
EBITDA	289	290	299	326	339	308	348	377	479	421	377	323	396	544	592
EBITDA Margin (%)	16.91	15.56	15.42	16.28	16.64	15.22	16.59	16.22	16.52	16.85	16.77	13.56	13.57	16.38	16.6
Free Cash Flow	66	79	81	66	9	260	215	172	292	302	427	141	232	343	340
Net Cash Paid for Acquisitions	47	- -	199	- -	- -	- -	- -	771	- -	-10	- -	16	-1	-2	-8
Free Cash Flow to Firm	84	98	101	83	28	281	243	205	327	333	456	170	272	382	379
Free Cash Flow to Equity	30	46	239	226	153	136	91	810	142	38	325	274	98	484	160
Free Cash Flow per Basic Share	0.96	1.15	1.18	1	0.14	4.2	3.51	2.8	4.71	4.86	6.75	2.29	3.87	5.71	5.71
Price/Free Cash Flow	11.8	11.43	7.8	6.71	4.61	6.5	12.33	12.11	14.2	12.98	14.77	20.59	19.84	19.89	25.79
Cash Flow to Net Income	0.87	1.02	1.53	1.65	1.63	2.41	1.53	1.66	1.5	1.45	2.23	1.13	1.33	1.18	1.07
Capital Expenditures	-48	-65	-142	-207	-287	-176	-92	-127	-99	-47	-38	-53	-76	-96	-131