Woodward
WWDNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $334.13 Prior regular-session close from the quote source.
- $330.10–$339.70 Regular-session low and high so far today.
- 438.2K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Nov 23 projected Projected for 2026-11-23 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $253.52–$450.92 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own WWD if its mission-critical aerospace and industrial control positions stay embedded in customer platforms and keep converting cyclical demand into higher-margin, cash-generative growth.
WWD price history
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Investment thesis
What must happen next
Woodward’s qualified control solutions remain embedded in aerospace and industrial customer platforms, so customers continue buying from Woodward rather than redesigning around alternative suppliers.StrengtheningMateriality: High
GAAP annual revenue increased from $2.383 billion in FY2022 to $3.567 billion in FY2025. If platform incumbency holds, demand can compound with customer production and aftermarket activity; if it breaks, revenue durability is much lower.
Watch: Major engine or aircraft OEMs such as GE Aerospace, RTX/Pratt & Whitney, Safran/CFM, Boeing or Airbus insource control functions or dual-source away from Woodward.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue increased from $2.383 billion in FY2022 to $3.567 billion in FY2025.
Open source ↗Mission-critical engineering content and service activity allow Woodward to protect price and mix, so growth does not require sacrificing unit economics.StrengtheningMateriality: High
Estimated GAAP annual gross profit increased from $525.3 million in FY2022 to $956.3 million in FY2025. If pricing and mix hold, incremental sales create value; if OEMs or competitors compress pricing, revenue growth may not translate into owner earnings.
Watch: Large OEM customers demand price concessions or cost-sharing that Woodward cannot offset with productivity.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Estimated GAAP annual gross profit increased from $525.3 million in FY2022 to $956.3 million in FY2025.
Open source ↗Woodward’s operating model can convert specialized manufacturing growth into cash rather than trapping the upside in inventory, receivables or supplier support.StrengtheningMateriality: Medium
GAAP annual operating cash flow rose from $193.6 million in FY2022 to $471.3 million in FY2025. Cash conversion determines whether growth can fund R&D, capacity, buybacks or debt reduction without weakening the balance sheet.
Watch: Aerospace ramp requirements force large inventory builds or supplier financing before customer deliveries occur.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow rose from $193.6 million in FY2022 to $471.3 million in FY2025.
Open source ↗A resilient balance sheet lets Woodward invest through aerospace and industrial cycles without relying on distressed financing.StrengtheningMateriality: Medium
GAAP total liabilities declined from $2.192 billion at FY2024 year-end to $2.064 billion at FY2025 year-end. Financial flexibility protects long-cycle R&D, capacity commitments and customer support when end markets slow.
Watch: Management funds a major acquisition or capacity expansion primarily with debt at the wrong point in the cycle.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP total liabilities declined from $2.192 billion at FY2024 year-end to $2.064 billion at FY2025 year-end.
Open source ↗Per-share compounding depends on Woodward continuing to win high-value engineered programs and defend margins, not merely riding a cyclical rebound.StrengtheningMateriality: Medium
GAAP diluted EPS increased from $2.71 in FY2022 to $7.19 in FY2025. If earnings growth comes from durable program content and operating leverage, owners benefit; if it comes from a temporary cycle peak, the stock can de-rate quickly.
Watch: Woodward loses next-generation aerospace or industrial control positions to Parker-Hannifin, Eaton, Honeywell or customer insourcing.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP diluted EPS increased from $2.71 in FY2022 to $7.19 in FY2025.
Open source ↗
Full investment case & evidence
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Original research
Woodward’s qualified control solutions remain embedded in aerospace and industrial customer platforms, so customers continue buying from Woodward rather than redesigning around alternative suppliers. If platform incumbency holds, demand can compound with customer production and aftermarket activity; if it breaks, revenue durability is much lower.
Mission-critical engineering content and service activity allow Woodward to protect price and mix, so growth does not require sacrificing unit economics. If pricing and mix hold, incremental sales create value; if OEMs or competitors compress pricing, revenue growth may not translate into owner earnings.
Woodward’s operating model can convert specialized manufacturing growth into cash rather than trapping the upside in inventory, receivables or supplier support. Cash conversion determines whether growth can fund R&D, capacity, buybacks or debt reduction without weakening the balance sheet.
A resilient balance sheet lets Woodward invest through aerospace and industrial cycles without relying on distressed financing. Financial flexibility protects long-cycle R&D, capacity commitments and customer support when end markets slow.
Per-share compounding depends on Woodward continuing to win high-value engineered programs and defend margins, not merely riding a cyclical rebound. If earnings growth comes from durable program content and operating leverage, owners benefit; if it comes from a temporary cycle peak, the stock can de-rate quickly.
All standing thesis claims
Original report summary
its mission-critical aerospace and industrial control positions stay embedded in customer platforms and keep converting cyclical demand into higher-margin, cash-generative growth.
Bull case and bear case
Bull case and bear case for Woodward
Where the evidence on Woodward stands: Strengthening on the latest evidence (Nov 9, 2026). Of its 5 thesis points, 5 strengthening.
Bull case: what the evidence supports
Woodward’s qualified control solutions remain embedded in aerospace and industrial customer platforms, so customers continue buying from Woodward rather than redesigning around alternative suppliers.
Mission-critical engineering content and service activity allow Woodward to protect price and mix, so growth does not require sacrificing unit economics.
Woodward’s operating model can convert specialized manufacturing growth into cash rather than trapping the upside in inventory, receivables or supplier support.
A resilient balance sheet lets Woodward invest through aerospace and industrial cycles without relying on distressed financing.
Per-share compounding depends on Woodward continuing to win high-value engineered programs and defend margins, not merely riding a cyclical rebound.
Bear case: what would count against it
Major engine or aircraft OEMs such as GE Aerospace, RTX/Pratt & Whitney, Safran/CFM, Boeing or Airbus insource control functions or dual-source away from Woodward.
Large OEM customers demand price concessions or cost-sharing that Woodward cannot offset with productivity.
Aerospace ramp requirements force large inventory builds or supplier financing before customer deliveries occur.
Thesis-Break Engine
Thesis-break watch · Woodward
No break has crossed Woodward’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedCosts associated with exit or disposal activities.
Woodward filed an SEC 8-K on 2026-09-21: Costs associated with exit or disposal activities. It is a dated development that tests the current thesis.
- MixedOther material event.
Woodward filed an SEC 8-K on 2026-09-16: Other material event. It is a dated development that tests the current thesis.
- MixedEntered a material definitive agreement.
Woodward filed an SEC 8-K on 2026-08-21: Entered a material definitive agreement. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Major engine or aircraft OEMs such as GE Aerospace, RTX/Pratt & Whitney, Safran/CFM, Boeing or Airbus insource control functions or dual-source away from Woodward.
- Large OEM customers demand price concessions or cost-sharing that Woodward cannot offset with productivity.
- Aerospace ramp requirements force large inventory builds or supplier financing before customer deliveries occur.
- Management funds a major acquisition or capacity expansion primarily with debt at the wrong point in the cycle.
- Woodward loses next-generation aerospace or industrial control positions to Parker-Hannifin, Eaton, Honeywell or customer insourcing.
WWD news
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Financial statements
WWD income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
WWD: quick answers
- When does Woodward (WWD) report earnings next?
- Woodward's next results are projected for November 23, 2026, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on July 29, 2026. Earnings calendar
- What is WWD's short interest?
- As of October 30, 2026, 1.4M WWD shares were sold short, 2.32% of its shares outstanding, up 10.7% from the count before. At the stock's average daily volume that is 2.0 days to cover. FINRA publishes the count twice a month. WWD short interest history
- Have members of Congress traded WWD?
- Reports made public in the last 90 days disclose 1 trade in WWD by 1 filer: 0 purchases and 1 sale. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed WWD trade
- Which well-known investors own WWD?
- 3 of the 37 well-known funds tracked here reported WWD shares in their latest 13F filings. By share of the fund's portfolio: Duquesne Family Office (Stanley Druckenmiller), 0.6%; Soros Fund Management (George Soros), 0.1%; Bridgewater Associates (Ray Dalio), 0.1%. Fund portfolios
WWD in well-known investors’ portfolios
3 of 37 funds reported WWD shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Stanley DruckenmillerDuquesne Family Office | 0.55% | $28.6M | −68.2% | Q2 2026 |
| George SorosSoros Fund Management | 0.13% | $10.6M | −75.1% | Q2 2026 |
| Ray DalioBridgewater Associates | 0.09% | $21.9M | −18.6% | Q2 2026 |