Tearsheet

Curtiss-Wright (CW)

Market Price (12/4/2025): $535.89 | Market Cap: $20.1 Bil
Sector: Industrials | Industry: Aerospace & Defense

Curtiss-Wright (CW)

Market Price (12/4/2025): $535.89
Market Cap: $20.1 Bil
Sector: Industrials
Industry: Aerospace & Defense

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 34x
1	Low stock price volatility Vol 12M is 34%	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 62%
2	Megatrend and thematic drivers Megatrends include Datacenter Power, and Advanced Aviation & Space. Themes include Mini Nuclear, Power Grid, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%
1	Low stock price volatility Vol 12M is 34%
2	Megatrend and thematic drivers Megatrends include Datacenter Power, and Advanced Aviation & Space. Themes include Mini Nuclear, Power Grid, Show more.
3	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 34x
4	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 62%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$535.89	$354.15	$221.72	$165.49	$136.73
Market Cap CYE ($ Bil)	20.1	13.4	8.5	6.3	5.3
Total Debt ($ Bil)	1.1	1.2	1.2	1.4	1.2
Total Cash ($ Bil)	0.2	0.4	0.4	0.3	0.2
Enterprise Value ($ Bil)	21.0	14.6	9.7	7.7	6.5
Valuation Ratios
P/S TTM	6.0	4.3	3.0	2.5	2.2
P/EBIT TTM	31.8	23.9	16.6	14.7	14.4
P/E TTM	43.7	33.4	24.1	21.8	21.3
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0	0.0	0.0

	12/4/25	2024	2023
Share Price CYE	$535.89	$354.15	$221.72
Market Cap CYE ($ Bil)	20.1	13.4	8.5
Total Debt ($ Bil)	1.1	1.2	1.2
Total Cash ($ Bil)	0.2	0.4	0.4
Enterprise Value ($ Bil)	21.0	14.6	9.7
Valuation Ratios
P/S TTM	6.0	4.3	3.0
P/EBIT TTM	31.8	23.9	16.6
P/E TTM	43.7	33.4	24.1
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0

	CW	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	3.4
Rev Chg Q	8.8%	7.1%
Rev Chg LTM	9.5%	6.1%
Rev Chg 3Y Avg	11.1%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.6
CFO LTM ($ Bil)	0.6
Net Inc LTM ($ Bil)	0.5
Op Mgn LTM	18.3%	18.8%
CFO/Rev LTM	17.5%	20.5%
Net Inc Mgn	13.8%	13.1%
VALUATION	VERY HIGH
P/S	6.0	3.2
P/CFO	34.3	15.8
P/FCF	39.3	20.5
P/E	43.7	23.5
STABILITY	GOOD
Debt/Equity	0.06	0.20
Cash/Assets	0.04	0.07

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Metric	Value	Date	Source
Backlog	$3.9 billion	9302025	Link
New Orders	$927 million	9302025	Link
Book-to-Bill Ratio	1.1x	9302025	Link

Recent
11/05/2025	Earnings Release	Rev: $869 Mil (A) vs. $870 Mil (E) EPS: 3.40 (A) vs. $3.30 (E)
11/28/2025	Dividend	Amount: $0.24 Payment On: 12/12/2025
Upcoming
2/11/2026	Earnings Release	Rev: - EPS: -

CW Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Curtiss-Wright (CW) experienced a 12.2% stock movement for the approximate period from August 31, 2025, to December 4, 2025, driven by several key factors.

1. Strong Third Quarter 2025 Financial Results and Raised Full-Year Guidance: Curtiss-Wright reported robust third-quarter 2025 results, with adjusted diluted earnings per share (EPS) of $3.40, surpassing analyst estimates of $3.30. The company also raised its full-year 2025 adjusted financial guidance, with projected diluted EPS increasing to a new range of $12.95 to $13.20. These strong financial performances and an optimistic outlook likely contributed significantly to positive investor sentiment.

2. Increased Share Repurchase Authorization and Dividend: The company demonstrated its commitment to returning capital to shareholders by significantly increasing its share repurchase authorization. In November 2025, Curtiss-Wright boosted its share repurchase authorization by $416 million, bringing the total available buyback authorization to $550 million. They also declared a quarterly dividend of $0.24 per share payable in December 2025. This aggressive capital allocation strategy signals confidence in future performance.

3. New Contract Wins and Solid Order Activity: Curtiss-Wright secured notable contracts during this period, including an award from General Dynamics Land Systems in October 2025 to provide Modular Open Systems Approach-Based Electronics for the U.S. Army's Stryker Ground Combat Vehicle. Additionally, in October 2025, the company was awarded a $34 million contract to provide airborne data recorder technology to the U.S. Navy. The third quarter of 2025 also saw new orders totaling $860 million, resulting in a book-to-bill ratio of 1.1x and contributing to a 16% year-to-date increase in backlog to $3.3 billion.

4. Positive Analyst Sentiment and Price Targets: Analyst firms maintained a positive outlook on Curtiss-Wright. For instance, Morgan Stanley reiterated an "overweight" rating in November 2025 and set a price target of $645.00, suggesting a potential upside of approximately 14.57% within 12 months. The consensus among Wall Street analysts was a "Moderate Buy" rating for CW stock, with an average 12-month price target that indicated potential upside from current levels.

5. Continued Execution of "Pivot to Growth" Strategy and Commercial Nuclear Expansion: Curtiss-Wright highlighted continued strong results under its "Pivot to Growth" strategy, achieving higher revenues and growth in operating income across all three segments during Q3 2025. The company also projects significant long-term growth in its commercial nuclear revenue, targeting $574 million by the end of 2028 and $1.5 billion by 2035, indicating a robust expansion strategy in this key segment.

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Stock Movement Drivers

Fundamental Drivers

The 12.2% change in CW stock from 9/3/2025 to 12/3/2025 was primarily driven by a 8.2% change in the company's P/E Multiple.

	9032025	12032025	Change
Stock Price ($)	477.51	535.89	12.22%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3305.45	3375.70	2.13%
Net Income Margin (%)	13.66%	13.78%	0.88%
P/E Multiple	39.87	43.13	8.17%
Shares Outstanding (Mil)	37.69	37.43	0.70%
Cumulative Contribution			12.22%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
CW	12.2%
Market (SPY)	6.2%	67.9%
Sector (XLI)	2.9%	67.6%

Fundamental Drivers

The 20.0% change in CW stock from 6/4/2025 to 12/3/2025 was primarily driven by a 10.2% change in the company's P/E Multiple.

	6042025	12032025	Change
Stock Price ($)	446.46	535.89	20.03%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3213.67	3375.70	5.04%
Net Income Margin (%)	13.37%	13.78%	3.01%
P/E Multiple	39.14	43.13	10.19%
Shares Outstanding (Mil)	37.68	37.43	0.67%
Cumulative Contribution			20.03%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
CW	20.0%
Market (SPY)	15.1%	44.3%
Sector (XLI)	7.6%	48.2%

Fundamental Drivers

The 44.7% change in CW stock from 12/3/2024 to 12/3/2025 was primarily driven by a 24.1% change in the company's P/E Multiple.

	12032024	12032025	Change
Stock Price ($)	370.26	535.89	44.74%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3082.67	3375.70	9.51%
Net Income Margin (%)	13.20%	13.78%	4.35%
P/E Multiple	34.76	43.13	24.08%
Shares Outstanding (Mil)	38.21	37.43	2.04%
Cumulative Contribution			44.68%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
CW	44.7%
Market (SPY)	14.3%	61.8%
Sector (XLI)	9.8%	65.7%

Fundamental Drivers

The 199.8% change in CW stock from 12/4/2022 to 12/3/2025 was primarily driven by a 62.0% change in the company's P/E Multiple.

	12042022	12032025	Change
Stock Price ($)	178.73	535.89	199.84%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2460.95	3375.70	37.17%
Net Income Margin (%)	10.47%	13.78%	31.63%
P/E Multiple	26.62	43.13	62.00%
Shares Outstanding (Mil)	38.37	37.43	2.44%
Cumulative Contribution			199.66%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
CW	147.4%
Market (SPY)	53.2%	60.3%
Sector (XLI)	45.4%	65.8%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CW Return	-17%	20%	21%	34%	60%	55%	299%
Peers Return	-4%	7%	16%	16%	19%	14%	89%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
CW Win Rate	42%	58%	50%	67%	67%	60%
Peers Win Rate	52%	40%	42%	42%	48%	44%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
CW Max Drawdown	-46%	-11%	-9%	-6%	-4%	-20%
Peers Max Drawdown	-45%	-9%	-10%	-8%	-5%	-14%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: LMT, PH, NOC, FLS, APEX. See CW Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	CW	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-20.6%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	25.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	123 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-48.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	95.0%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	708 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-31.6%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	46.2%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	352 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-59.6%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	147.5%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1744 days	1480 days

Compare to LMT, PH, NOC, FLS, APEX

In The Past

Curtiss-Wright's stock fell -20.6% during the 2022 Inflation Shock from a high on 4/20/2022. A -20.6% loss requires a 25.9% gain to breakeven.

Preserve Wealth

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Asset Allocation

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About Curtiss-Wright (CW)

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services to the aerospace, defense, general industrial, and power generation markets worldwide. worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power. The Aerospace & Industrial segment offers industrial vehicle products, such as electronic throttle control devices, joysticks, and transmission shifters; sensors, controls and electro-mechanical actuation components used in commercial and military aircraft; and surface technology services, including shot peening, laser peening, and coatings. The Defense Electronics segment provides commercial off-the-shelf embedded computing board-level modules, data acquisition and flight test instrumentation equipment, integrated subsystems, instrumentation and control systems, turret aiming and stabilization products, and weapons handling systems; avionics and electronics; flight test equipment; and aircraft data management solutions. The Naval & Power segment offers hardware, pumps, pump seals, control rod drive mechanisms, valves, fastening systems, specialized containment doors, airlock hatches, spent fuel management products, and fluid sealing products for nuclear power plants and nuclear equipment manufacturers; and naval propulsion and auxiliary equipment, including coolant pumps, power-dense compact motors, generators, steam turbines, valves, and secondary propulsion systems, as well as ship repair and maintenance services primarily to the U.S. navy. Curtiss-Wright Corporation was founded in 1929 and is headquartered in Davidson, North Carolina.

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A specialized Honeywell, providing mission-critical components for defense and energy.

Parker-Hannifin, but with a stronger focus on highly engineered parts for aerospace, defense, and nuclear applications.

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Actuation & Motion Control Systems: Curtiss-Wright provides precision mechanical, electromechanical, and hydraulic actuation systems for aerospace, defense, and industrial applications.
Embedded Computing & Digital Solutions: The company offers ruggedized computing, networking, and data storage solutions for defense, aerospace, and critical industrial applications.
Flow Control & Power Generation Equipment: Curtiss-Wright supplies high-performance valves, pumps, and power generation systems primarily for naval and nuclear power applications.
Surface Treatment & Engineered Materials: They provide specialized surface technologies such as shot peening and laser peening, along with engineered materials for critical components.
Sensors & Industrial Controls: Curtiss-Wright manufactures advanced sensors, controls, and instrumentation for diverse industrial and aerospace applications, including position, pressure, and temperature sensing.

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Curtiss-Wright (CW) Major Customers

Curtiss-Wright (CW) primarily sells its highly engineered products and solutions to other companies and government entities (B2B model), rather than directly to individuals. Its major customers include prime contractors and Original Equipment Manufacturers (OEMs) across its key markets: Defense, Commercial Aerospace, Power Generation, and General Industrial. While a significant portion of Curtiss-Wright's sales ultimately serve the U.S. Government (Department of Defense, Department of Energy, etc.), these sales are typically facilitated through major defense prime contractors. Here are some of Curtiss-Wright's major customer companies:

Defense Prime Contractors (serving the U.S. Government and international militaries):
- Lockheed Martin (Symbol: LMT)
- Huntington Ingalls Industries (Symbol: HII)
- General Dynamics (Symbol: GD)
- Northrop Grumman (Symbol: NOC)
- RTX Corporation (formerly Raytheon Technologies) (Symbol: RTX)
- Boeing (Symbol: BA)
Commercial Aerospace OEMs:
- Boeing (Symbol: BA)
- Airbus SE (Primary listing: Euronext Paris; Symbol: AIR.PA; OTC US Symbol: EADSY)
Power Generation and Industrial Customers:
Curtiss-Wright supplies to a broad range of global utility companies, engineering firms, and industrial manufacturers in nuclear power, oil and gas, chemical processing, and other heavy industries. Specific names are highly diversified and not typically disclosed as individual major customers due to the vast number of projects and clients in these sectors.

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Lynn M. Bamford, Chair and Chief Executive Officer

Lynn M. Bamford assumed the role of President and Chief Executive Officer of Curtiss-Wright Corporation on January 1, 2021, and was named Chair of the Board of Directors in May 2022. She joined Curtiss-Wright in 2004 through its acquisition of Dy4, where she held several engineering and leadership positions. Prior to her CEO role, she served as President of the Defense and Power Segments since January 2020, and as Senior Vice President and General Manager of the Defense Solutions division from 2013 through 2019. During her tenure, she has successfully led the company through nine acquisitions. Ms. Bamford has over 30 years of operational experience across the defense, aerospace, and commercial industries. She holds a Bachelor of Science Degree in Electrical Engineering from Penn State University and a Master of Science Degree in Electrical Engineering from George Mason University.

K. Christopher Farkas, Vice President and Chief Financial Officer

K. Christopher Farkas was named Vice President and Chief Financial Officer of Curtiss-Wright Corporation in 2020. He previously held positions as Vice President of Finance (appointed December 2017) and Vice President and Corporate Controller (since 2014), and Assistant Corporate Controller (since May 2009). Before joining Curtiss-Wright, Mr. Farkas spent over 17 years in financial, technical, and operational roles at various industrial companies, including United Technologies Corporation and Parker Hannifin. He served as Chief Financial Officer and Chief Operating Officer at Newmark Grubb ACRES, and as CFO and Compliance Officer within the Controls Systems division at Parker-Hannifin. He also held various leadership roles at United Technologies Corporation, including Controller of its Pratt & Whitney Engine Center. Mr. Farkas holds a Bachelor of Science Degree in Accounting, an MBA from Purdue University, and an EMBA from ESCP Europe, and is a CPA.

Kevin M. Rayment, Vice President and Chief Operating Officer

Kevin M. Rayment serves as the Vice President and Chief Operating Officer. He was named to this role in January 2021. Previously, he served as President of the Naval & Power segment since January 2020. He has more than 30 years of experience within the aerospace and defense industry and holds a Bachelor of Science degree in Electrical and Electronic Engineering from the University of London.

Gary A. Ogilby, Vice President and Corporate Controller

Gary A. Ogilby was named Vice President and Corporate Controller of Curtiss-Wright Corporation in 2020. Prior to this, he was Vice President of Finance and Administration at the Corporation's Surface Technologies division starting in 2016. He also served as Assistant Corporate Controller since 2014 and held other corporate financial managerial roles of increasing responsibility since 2010. Before joining Curtiss-Wright, he worked at Ernst & Young, primarily auditing public multi-national corporations. Mr. Ogilby holds a Bachelor of Science Degree in Accounting from the College of New Jersey and is a CPA.

John C. Watts, Vice President of Strategy and Corporate Development

John C. Watts serves as the Vice President of Strategy and Corporate Development. He assumed this role in January 2021. Prior to this, he served as Vice President and General Manager of the Company’s Defense Solutions division since 2018. Mr. Watts joined Curtiss-Wright in 2010 as a part of the acquisition of Hybricon International. He holds a Bachelor of Science degree in Mechanical Engineering from the University of Massachusetts and an MBA from Rivier University.

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The accelerating global transition to renewable energy sources (solar, wind, battery storage) as the preferred and increasingly cost-competitive solution for new power generation, potentially eroding the long-term growth and market share of traditional large-scale nuclear power, a significant segment for Curtiss-Wright's services and components.

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Curtiss-Wright (CW) operates in several key markets. The estimated addressable market sizes for its main products and services are as follows:

Defense Electronics: The global defense electronics market was valued at approximately USD 175.2 billion in 2024 and is projected to grow to about USD 290.19 billion by 2034, with a compound annual growth rate (CAGR) of 5.08% from 2025 to 2034. In 2025, the market is estimated to be around USD 178.34 billion, with a forecast to reach USD 234.48 billion by 2030, reflecting a 5.63% CAGR. Another estimate places the global market at USD 188.3 billion in 2025, reaching USD 322.0 billion by 2035, at a CAGR of 5.5%. The North American defense electronics market is expected to exceed USD 125 billion by 2034.
Commercial Aerospace (via Aerospace Parts Manufacturing): The global aerospace parts manufacturing market size was approximately USD 981.27 billion in 2024 and is projected to grow to USD 1.24 trillion by 2029, at a CAGR of 5%. Another valuation places the global market at USD 796.07 billion in 2024, with a projection to reach USD 1203.31 billion by 2032, growing at a CAGR of 5.30% from 2026 to 2032. In 2023, the market was estimated at USD 913.13 billion and is expected to reach USD 1,233.24 billion in 2030, growing at a CAGR of 4.2% from 2024 to 2030. North America was the largest regional market for aerospace parts manufacturing in 2024.
Naval & Power (Nuclear Power Generation / Power Generation Equipment): The global power generation equipment market was valued at USD 236.14 billion in 2024 and is projected to grow to USD 403.12 billion by 2035, demonstrating a CAGR of 4.98% from 2025 to 2035. In 2022, the global power generation equipment market size was USD 110.4 billion, with a projection to reach USD 173.1 billion by 2032, at a CAGR of 4.8% from 2023 to 2032. For the broader power generation, transmission, and control equipment market, the global size was USD 530.76 billion in 2024, with an expected increase to USD 550.01 billion in 2025, growing at a CAGR of 3.6%. It is further anticipated to reach USD 651.97 billion in 2029 at a CAGR of 4.3%. North America held a 35% revenue share in the power generation equipment market in 2023.

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Curtiss-Wright (CW) is anticipated to drive future revenue growth over the next 2-3 years through several key factors:

Accelerated Demand in Aerospace & Defense (A&D) Markets: Curtiss-Wright expects strong growth in both naval defense, driven by demand for nuclear propulsion equipment supporting U.S. Navy programs, and the commercial aerospace sector. The company's sales outlook for aerospace defense for 2025 remains strong, reflecting growth in defense electronics and higher sales of aircraft arresting systems equipment.
Expansion in the Commercial Nuclear Market: Significant growth is anticipated from the sustainment of the global nuclear operating reactor fleet, global growth in Gen III+ and Gen IV projects, and new development contracts for Small Modular Reactors (SMRs). Curtiss-Wright aims to achieve $1.5 billion in commercial nuclear revenue by the mid-next decade.
Robust Backlog and New Orders: A record backlog exceeding $3.9 billion, up 14% year-to-date, and an 8% increase in new orders (with a book-to-bill ratio of over 1.0), provide strong visibility and confidence in future top-line growth.
Strategic Investments in Research & Development (R&D) and Product Innovation: The company is making focused investments in R&D, including supporting next-generation SMR designs and delivering improved cockpit voice recorder solutions to meet new safety mandates. These investments are intended to position Curtiss-Wright for future organic growth.
Strategic Acquisitions: Curtiss-Wright's growth strategy is supplemented by strategic acquisitions that align with its financial objectives and return requirements, further contributing to revenue expansion.

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Share Repurchases

Curtiss-Wright has returned over $450 million to shareholders through share repurchase activities since 2021.
The company completed $250 million in share repurchases during 2024.
In May 2024, an additional $300 million was authorized for future share repurchases, increasing the total available authorization to $400 million.

Share Issuance

Curtiss-Wright's shares outstanding have shown a declining trend over the last few years, indicating that share repurchases have outweighed any issuances. For instance, shares outstanding decreased by 0.4% in 2024 from 2023, and by 4.81% in 2022 from 2021.

Outbound Investments

In April 2024, Curtiss-Wright acquired WSC, Inc. for approximately $34 million in cash, expanding its commercial nuclear portfolio with power plant control room simulation technology.
The company completed a $200 million cash acquisition of Ultra Energy (UK-based) in January 2025, a manufacturer of nuclear reactor control systems and monitoring systems.
Total acquisition activities for 2024 amounted to $226 million, contributing to goodwill and intangible assets.

Capital Expenditures

Capital expenditures were $61 million in 2024, compared to $44.7 million in 2023 and $38.2 million in 2022.
The primary focus of capital expenditures in 2024 was within the Defense Electronics and Naval & Power segments, including $16 million for incremental growth investments across all three segments.
Expected capital expenditures for the upcoming fiscal year (2025) are projected to be $80 million.

Better Bets than Curtiss-Wright (CW)

	CW	Better Performance than CW
Metric	Value	INDUSTRY: Aerospace & Defense
Rev Chg LTM	9.5%	GE (17.7%), HEI (13.5%), TDG (12.8%), GD (11.9%), BA (10.2%)
Rev Chg 3Y Avg	11.1%	AXON (33.7%), HEI (27.3%), TDG (18.2%), GE (15.7%), HWM (13.5%)
Op Mgn LTM	18.3%	TDG (46.4%), HWM (24.0%), LOAR (23.0%), HEI (22.3%), GE (20.5%)
CFO/Rev LTM	17.5%	TDG (24.5%), BWXT (20.6%), HEI (19.7%), CAE (18.9%), HWM (18.4%)
FCF/Rev LTM	15.3%	CODA (22.3%), TDG (22.2%), HEI (18.2%), LOAR (17.7%)
Total Yield	2.4%	GD (6.3%), LMT (5.6%), NOC (5.3%), RTX (4.5%), GE (2.5%)
P/S	6.0	LMT (1.6), GD (1.8), BA (2.0), NOC (2.1), RTX (2.6)
P/Op Inc	32.9	GD (17.2), LMT (19.3), NOC (21.3), TDG (22.2), RTX (25.5)

	CW	Better Performance than CW
Metric	Value	SECTOR: Industrials
Rev Chg LTM	9.5%	UBER (18.2%), GE (17.7%), WM (15.9%), GD (11.9%), BA (10.2%)
Rev Chg 3Y Avg	11.1%	EMR (24.9%), UBER (19.6%), TDG (18.2%), GE (15.7%), HWM (13.5%)
Op Mgn LTM	18.3%	UNP (40.6%), GE (20.5%), DE (20.0%), ETN (19.0%), HON (18.9%)
CFO/Rev LTM	17.5%	UNP (39.6%), DE (19.7%), HON (18.4%), UBER (18.1%), CAT (18.0%)
FCF/Rev LTM	15.3%	UNP (24.5%), TDG (22.2%), ADP (20.1%), UBER (17.5%), PH (16.9%)
Total Yield	2.4%	UBER (8.1%), UNP (7.3%), CAT (6.7%), RTX (4.5%), GE (2.5%)
P/S	6.0	BA (2.0), RTX (2.6), CAT (2.9), UBER (4.1), GEV (4.4)
P/Op Inc	32.9	UNP (14.0), CAT (15.8), DE (15.9), RTX (25.5), ETN (28.8)

	CW	Better Performance than CW
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	9.5%	NVDA (71.6%), AVGO (28.0%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%)
Rev Chg 3Y Avg	11.1%	NVDA (92.0%), AVGO (24.0%), META (17.3%), MSFT (13.2%), AMZN (11.3%)
Op Mgn LTM	18.3%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	17.5%	MSFT (50.0%), NVDA (46.6%), GOOGL (39.3%), AAPL (26.6%), AMZN (18.1%)
FCF/Rev LTM	15.3%	NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	2.4%	GOOGL (4.6%), META (3.5%), MSFT (3.4%), AMZN (3.0%), AAPL (3.0%)
P/S	6.0	WMT (1.1), XOM (1.4), BRK-B (2.7), AMZN (3.5), JPM (4.9)
P/Op Inc	32.9	META (22.6), GOOGL (23.7), MSFT (28.3), AAPL (29.1), AMZN (30.7)

		Best Bets In Industrials Sector
	CW
What You Pay
P/E	43.7
P/EBIT	31.8
What You Get
Rev Chg Q	8.8%
Rev Chg LTM	9.5%
Rev Chg 3Y Avg	11.1%
FCF/Rev 3Y Avg	15.2%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Curtiss-Wright Stock's Winning Streak May Not Be Over Yet	Actionable
2	Better Bet Than Curtiss-Wright Stock: TDG, VSEC Deliver More	Actionable
3	Can Curtiss-Wright Stock Recover If Markets Fall?	Return
4	Curtiss-Wright vs Microsoft: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	Curtiss-Wright vs Trane Technologies: Which Is A Better Investment?	Counter-Intuitive Comparisons
6	Curtiss-Wright vs TransDigm: Which Is A Better Investment?	Counter-Intuitive Comparisons
7	How Does Curtiss-Wright Stock Stack Up Against Its Peers?	Peer Comparison
8	Better Bet Than CW Stock: Pay Less Than Curtiss-Wright To Get More From TT, TDG
9	Better Bet Than CW Stock: Pay Less Than Curtiss-Wright To Get More From TDG, PSN
10	CW Dip Buy Analysis
11	ARTICLES
12	TDG Tops Curtiss-Wright Stock on Price & Potential		November 14th, 2025
13	Mid Cap Stocks Trading At 52-Week High		October 29th, 2025
14	Mid Cap Stocks Trading At 52-Week High		October 9th, 2025
15	Better Bet Than Curtiss-Wright Stock: Pay Less To Get More From TDG		October 7th, 2025

	Title
0	DASHBOARDS
1	Curtiss-Wright Stock's Winning Streak May Not Be Over Yet
2	Better Bet Than Curtiss-Wright Stock: TDG, VSEC Deliver More
3	Can Curtiss-Wright Stock Recover If Markets Fall?
4	Curtiss-Wright vs Microsoft: Which Is A Better Investment?
5	Curtiss-Wright vs Trane Technologies: Which Is A Better Investment?
6	Curtiss-Wright vs TransDigm: Which Is A Better Investment?
7	How Does Curtiss-Wright Stock Stack Up Against Its Peers?
8	Better Bet Than CW Stock: Pay Less Than Curtiss-Wright To Get More From TT, TDG
9	Better Bet Than CW Stock: Pay Less Than Curtiss-Wright To Get More From TDG, PSN
10	CW Dip Buy Analysis
11	ARTICLES
12	TDG Tops Curtiss-Wright Stock on Price & Potential
13	Mid Cap Stocks Trading At 52-Week High
14	Mid Cap Stocks Trading At 52-Week High
15	Better Bet Than Curtiss-Wright Stock: Pay Less To Get More From TDG

Trade Ideas

Select past ideas related to CW. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	7.3%	7.3%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.3%	2.3%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.8%	4.8%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.6%	1.6%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	2.2%	2.2%	0.0%
CW_9302022_Quality_Momentum_RoomToRun_10%	09302022	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	26.9%	41.2%	0.0%
CW_9302020_Dip_Buyer_FCFYield	09302020	CW	Curtiss-Wright	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	27.5%	36.1%	-10.2%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	7.3%	7.3%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.3%	2.3%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.8%	4.8%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.6%	1.6%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	2.2%	2.2%	0.0%
CW_9302022_Quality_Momentum_RoomToRun_10%	09302022	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	26.9%	41.2%	0.0%
CW_9302020_Dip_Buyer_FCFYield	09302020	CW	Curtiss-Wright	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	27.5%	36.1%	-10.2%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for Curtiss-Wright

Peers to compare with:

Financials

	CW	LMT	PH	NOC	FLS	APEX	Median
Name	Curtiss-.	Lockheed.	Parker H.	Northrop.	Flowserve	APEX Glo.
Mkt Price	535.89	446.80	869.20	553.32	70.90	-	535.89
Mkt Cap	20.1	103.6	110.0	79.2	9.2	-	79.2
Rev LTM	3,376	73,349	20,030	40,928	4,687	-	20,030
Op Inc LTM	618	5,997	4,137	4,098	462	-	4,098
FCF LTM	517	4,593	3,385	1,834	629	-	1,834
FCF 3Y Avg	469	5,634	3,081	2,137	367	-	2,137
CFO LTM	592	6,361	3,814	3,438	703	-	3,438
CFO 3Y Avg	525	7,386	3,488	3,791	442	-	3,488

Growth & Margins

	CW	LMT	PH	NOC	FLS	APEX	Median
Name	Curtiss-.	Lockheed.	Parker H.	Northrop.	Flowserve	APEX Glo.
Rev Chg LTM	9.5%	2.9%	0.2%	-0.1%	3.2%	-	2.9%
Rev Chg 3Y Avg	11.1%	4.3%	7.4%	5.2%	10.5%	-	7.4%
Rev Chg Q	8.8%	8.8%	3.7%	4.3%	3.6%	-	4.3%
QoQ Delta Rev Chg LTM	2.1%	2.1%	0.9%	1.1%	0.9%	-	1.1%
Op Mgn LTM	18.3%	8.2%	20.7%	10.0%	9.9%	-	10.0%
Op Mgn 3Y Avg	17.6%	11.0%	19.1%	9.0%	9.0%	-	11.0%
QoQ Delta Op Mgn LTM	0.2%	0.0%	0.2%	0.2%	-0.6%	-	0.2%
CFO/Rev LTM	17.5%	8.7%	19.0%	8.4%	15.0%	-	15.0%
CFO/Rev 3Y Avg	16.9%	10.5%	17.5%	9.4%	9.7%	-	10.5%
FCF/Rev LTM	15.3%	6.3%	16.9%	4.5%	13.4%	-	13.4%
FCF/Rev 3Y Avg	15.2%	8.0%	15.5%	5.3%	8.0%	-	8.0%

Valuation

	CW	LMT	PH	NOC	FLS	APEX	Median
Name	Curtiss-.	Lockheed.	Parker H.	Northrop.	Flowserve	APEX Glo.
Mkt Cap	20.1	103.6	110.0	79.2	9.2	-	79.2
P/S	6.0	1.6	4.8	2.1	1.5	-	2.1
P/EBIT	31.8	19.3	20.5	15.8	9.9	-	19.3
P/E	43.7	27.6	26.3	21.7	15.3	-	26.3
P/CFO	34.3	18.2	25.1	25.4	9.8	-	25.1
Total Yield	2.4%	5.6%	4.7%	5.3%	7.3%	-	5.3%
Dividend Yield	0.1%	2.0%	0.9%	0.7%	0.8%	-	0.8%
FCF Yield 3Y Avg	4.0%	4.8%	4.3%	2.8%	5.5%	-	4.3%
D/E	0.1	0.2	0.1	0.2	0.2	-	0.2
Net D/E	0.0	0.2	0.1	0.2	0.1	-	0.1

Returns

	CW	LMT	PH	NOC	FLS	APEX	Median
Name	Curtiss-.	Lockheed.	Parker H.	Northrop.	Flowserve	APEX Glo.
1M Rtn	-10.9%	-7.7%	12.9%	-3.4%	-1.3%	-	-3.4%
3M Rtn	12.2%	0.3%	16.4%	-4.4%	33.1%	-	12.2%
6M Rtn	20.0%	-6.0%	31.3%	13.5%	50.7%	-	20.0%
12M Rtn	44.7%	-11.0%	25.2%	16.0%	17.0%	-	17.0%
3Y Rtn	199.8%	-2.3%	203.1%	6.6%	134.6%	-	134.6%
1M Excs Rtn	-10.9%	-7.7%	12.9%	-3.4%	-1.3%	-	-3.4%
3M Excs Rtn	6.1%	-6.8%	9.7%	-9.5%	25.1%	-	6.1%
6M Excs Rtn	5.3%	-20.7%	16.6%	-1.2%	36.0%	-	5.3%
12M Excs Rtn	30.2%	-26.1%	11.3%	1.9%	4.5%	-	4.5%
3Y Excs Rtn	131.5%	-71.8%	132.7%	-62.0%	71.6%	-	71.6%

Comparison Analyses

	Title
0	How Does Curtiss-Wright Stock Stack Up Against Its Peers?
1	Why CW With 15% Upside May Beat NOC?
2	With 15% Gains On The Table, CW May Outshine PH
3	LMT Could Deliver 15% Returns And Outperform CW
4	Curtiss vs. Columbia Sportswear Company: Similar Market Cap, But Columbia Sportswear Company Is A Better Bet
5	Curtiss vs. Acuity Brands: Similar Market Cap, But Curtiss Is A Better Bet
6	Curtiss vs. Littelfuse: Similar Market Cap, But Littelfuse Is A Better Bet
7	Curtiss vs DexCom: Similar Income; Which Stock Is A Better Bet?
8	Curtiss vs International Flavors & Fragrances Inc: Similar Income; Which Stock Is A Better Bet?
9	Curtiss vs National Instruments: Similar Market Cap; Which Stock Is A Better Bet?

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	2/13/2025	2/20/2024	2/22/2023	2/24/2022	2/25/2021	2/27/2020
Key Financials
Total Revenue	3,376	3,121	2,845	2,557	2,501	2,391	2,488
EBITDA	759	675	631	548	504	414	530
Operating Income	618	543	485	428	396	354	404
Net Income	465	405	355	294	263	201	308
EPS	12.35	10.61	9.26	7.67	6.50	4.83	7.20
Growth Rates
Total Revenue Growth	9.5%	9.7%	11.3%	2.2%	4.6%	-3.9%	3.2%
EBITDA Growth	11.6%	7.0%	15.0%	8.9%	21.5%	-21.8%	7.5%
Operating Income Growth	14.2%	12.1%	13.2%	8.0%	12.1%	-12.5%	8.1%
Net Income Growth	14.3%	14.2%	20.4%	12.0%	30.5%	-34.5%	11.5%
Margins
EBITDA Margin	22.5%	21.6%	22.2%	21.4%	20.1%	17.3%	21.3%
Operating Income Margin	18.3%	17.4%	17.0%	16.7%	15.8%	14.8%	16.2%
Net Income Margin	13.8%	13.0%	12.5%	11.5%	10.5%	8.4%	12.4%
Cash & Debt
Total Cash	225	385	407	257	171	198	391
Total Debt	1,133	1,227	1,195	1,411	1,195	1,209	933
Net Debt / (Cash)	908	842	788	1,154	1,024	1,011	542
Cash Flows
Net Cash from Operations	592	544	448	295	388	261	421
Free Cash from Operations	517	483	403	257	347	214	352
Returns to Shareholders
Dividends	25	32	30	29	29	28	28
Share Repurchases	438	250	50	57	343	200	51

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/7/2025	5/8/2025	2/13/2025	10/31/2024	8/8/2024	5/2/2024	2/20/2024	11/2/2023	8/3/2023	5/4/2023	2/22/2023
Key Financials Quarterly
Total Revenue	869	877	806	824	799	785	713	786	724	704	631	758
Ebitda	203	199	166	192	182	165	137	197	168	150	115	187
Operating Income	167	157	130	163	148	132	100	161	133	113	79	157
Net Income	125	121	101	118	111	99	76	120	97	81	57	109
EPS	3.34	3.21	2.69	3.11	2.91	2.60	2.00	3.14	2.53	2.11	1.48	2.85
Key Financials TTM
Total Revenue TTM	3,376	3,305	3,214	3,121	3,083	3,008	2,928	2,845	2,817	2,723	2,628	2,557
Ebitda TTM	759	738	704	675	680	667	652	631	621	593	573	548
Operating Income TTM	618	599	574	543	541	525	506	485	481	456	442	428
Net Income TTM	465	451	430	405	407	393	374	355	344	321	311	294
Growth Rates Quarterly
Total Revenue Growth	8.8%	11.7%	13.0%	4.9%	10.3%	11.4%	13.0%	3.7%	14.9%	15.6%	12.8%	14.5%
EBITDA Growth	11.6%	20.6%	21.6%	-2.8%	7.9%	9.9%	18.4%	5.3%	19.3%	16.2%	26.9%	42.8%
Operating Income Growth	12.7%	19.1%	30.5%	1.5%	11.8%	16.9%	27.2%	2.2%	23.2%	15.0%	20.6%	42.6%
Net Income Growth	12.3%	21.7%	32.5%	-1.7%	14.9%	22.8%	34.6%	10.0%	31.2%	14.3%	39.7%	50.9%
Margins Quarterly
EBITDA Margin	23.3%	22.7%	20.6%	23.3%	22.7%	21.0%	19.1%	25.1%	23.2%	21.3%	18.3%	24.7%
Operating Income Margin	19.2%	17.9%	16.2%	19.8%	18.5%	16.8%	14.0%	20.4%	18.3%	16.0%	12.5%	20.8%
Net Income Margin	14.4%	13.8%	12.6%	14.3%	13.9%	12.7%	10.7%	15.3%	13.4%	11.5%	9.0%	14.4%
Cash & Debt
Total Cash	225	332	226	385	444	383	338	407	149	159	131	257
Total Debt	1,133	1,129	1,120	1,227	1,184	1,173	1,162	1,195	1,168	1,294	1,354	1,411
Net Debt / (Cash)	908	798	894	842	740	791	824	788	1,019	1,135	1,223	1,154
Cash Flows Quarterly
FCF from Operations	193	137	-39	301	177	111	-46	282	146	111	-92	292
Cash Flows TTM
FCF from Operations TTM	592	576	551	544	525	494	494	448	458	407	327	295
Returns to Shareholders Quarterly
Dividends	9	0	0	16	8	0	0	15	8	0	0	15
Share Repurchases	290	21	14	112	113	13	12	13	13	12	12	12
Return on Invested Capital (ROIC) Quarterly
ROIC	57.0%	60.8%	47.3%	59.6%	62.0%	52.5%	37.5%	62.3%	39.6%	30.4%	19.9%	41.0%
Return on Invested Capital (ROIC) TTM
ROIC TTM	53.1%	58.6%	50.3%	50.0%	56.5%	51.2%	47.0%	47.1%	36.0%	30.6%	27.4%	28.1%

Segment Financials

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Defense Electronics	1,518	1,546	1,536	1,543
Naval & Power	1,496	1,489	1,270	1,255
Aerospace & Industrial	1,078	1,042	992	1,020
Corporate and other	529	373	295	175
Assets held for sale			11	28
Commercial/Industrial					1,364
Corporate					305
Defense					1,210
Power					886
Total	4,621	4,450	4,104	4,021	3,764

Price Behavior

Price Behavior

Market Price	$535.89
Market Cap ($ Bil)	20.1
First Trading Date	11/05/1987
Distance from 52W High	-10.9%
	50 Days	200 Days
DMA Price	$555.97	$452.06
DMA Trend	up	up
Distance from DMA	-3.6%	18.5%
	3M	1YR
Volatility	30.6%	33.9%
Downside Capture	212.08	115.21
Upside Capture	207.20	136.65
Correlation (SPY)	68.6%	62.1%

CW Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.68	1.62	1.63	1.13	1.06	0.98
Up Beta	1.19	0.95	0.96	0.76	0.86	0.86
Down Beta	3.21	1.38	1.28	0.95	1.08	1.09
Up Capture	108%	202%	244%	155%	175%	143%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	10	22	37	74	148	425
Down Capture	184%	180%	172%	122%	107%	96%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	19	25	51	99	321

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of CW With Other Asset Classes (Last 1Y)
	CW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	44.6%	8.9%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	33.8%	18.9%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	1.13	0.32	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		65.6%	61.7%	18.1%	27.8%	33.0%	32.2%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of CW With Other Asset Classes (Last 5Y)
	CW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	35.0%	13.1%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	27.0%	17.2%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	1.12	0.61	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		67.6%	57.4%	15.2%	23.8%	39.6%	22.4%

Based On 10-Year Data

		Comparison of CW With Other Asset Classes (Last 10Y)
	CW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	22.9%	12.8%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	29.7%	19.9%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.76	0.57	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		76.5%	66.5%	4.7%	30.0%	53.1%	16.0%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	378,371
Short Interest: % Change Since 10312025	0.6%
Average Daily Volume	304,175
Days-to-Cover Short Interest	1.24
Basic Shares Quantity	37,430,000
Short % of Basic Shares	1.0%

Returns Analyses

	Title
0	Can Curtiss-Wright Stock Recover If Markets Fall?
1	Curtiss-Wright Stock Return Comparison
2	Curtiss-Wright Total Shareholder Return (TSR): 21.0% in 2022 and 6.4% 3-yr returns (below peer average)

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8072025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	2132025	10-K 12/31/2024
9302024	10312024	10-Q 9/30/2024
6302024	8082024	10-Q 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	2202024	10-K 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	5042023	10-Q 3/31/2023
12312022	2222023	10-K 12/31/2022
9302022	11032022	10-Q 9/30/2022
6302022	8042022	10-Q 6/30/2022
3312022	5052022	10-Q 3/31/2022
12312021	2242022	10-K 12/31/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Watts John C	Vice President Strat & Bus Dev	11252025	Sell	546.97	175	95,720	2,017,225	Form
1	Bamford Lynn M	Chair and CEO	11172025	Sell	549.07	3,750	2,059,013	19,444,216	Form
2	Farkas K Christopher	Vice President and CFO	11132025	Sell	577.91	5,047	2,916,712	2,448,027	Form
3	Bamford Lynn M	Chair and CEO	11132025	Sell	577.79	3,750	2,166,712	22,627,990	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Curtiss-Wright (CW)

Market Price (12/4/2025): $535.89 | Market Cap: $20.1 BilSector: Industrials | Industry: Aerospace & Defense

Curtiss-Wright (CW)

Market Price (12/4/2025): $535.89Market Cap: $20.1 BilSector: IndustrialsIndustry: Aerospace & Defense

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Market Price (12/4/2025): $535.89 | Market Cap: $20.1 Bil
Sector: Industrials | Industry: Aerospace & Defense

Market Price (12/4/2025): $535.89
Market Cap: $20.1 Bil
Sector: Industrials
Industry: Aerospace & Defense