Curtiss-Wright (CW)
Market Price (4/22/2026): $720.1 | Market Cap: $26.6 BilSector: Industrials | Industry: Aerospace & Defense
Curtiss-Wright (CW)
Market Price (4/22/2026): $720.1Market Cap: $26.6 BilSector: IndustrialsIndustry: Aerospace & Defense
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/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 16% Low stock price volatilityVol 12M is 32% Megatrend and thematic driversMegatrends include Datacenter Power, and Advanced Aviation & Space. Themes include Mini Nuclear, Power Grid, Show more. | Trading close to highsDist 52W High is -3.1%, Dist 3Y High is -3.1% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 40x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 41x, P/EPrice/Earnings or Price/(Net Income) is 55x Stock price has recently run up significantly12M Rtn12 month market price return is 128% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% Key risksCW key risks include [1] its heavy reliance on U.S. Show more. |
| Attractive cash flow generationCFO/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 16% |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Datacenter Power, and Advanced Aviation & Space. Themes include Mini Nuclear, Power Grid, Show more. |
| Trading close to highsDist 52W High is -3.1%, Dist 3Y High is -3.1% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 40x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 41x, P/EPrice/Earnings or Price/(Net Income) is 55x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 128% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% |
| Key risksCW key risks include [1] its heavy reliance on U.S. Show more. |
Qualitative Assessment
AI Analysis | Feedback
Curtiss-Wright (CW) stock has gained about 30% since 12/31/2025 because of the following key factors:
1. Strong Q4 2025 Earnings Beat and Optimistic 2026 Outlook.
Curtiss-Wright reported robust financial results for the fourth quarter of 2025 on February 11, 2026, surpassing analyst expectations with adjusted diluted earnings per share of $3.79, exceeding estimates of $3.66 by $0.13. Quarterly revenue also significantly beat estimates, rising 14.9% year-over-year to $946.98 million against a consensus of $890.14 million. The company provided an upbeat outlook for full-year 2026, projecting higher sales, operating margin expansion, and double-digit EPS growth, with revenue expected to be between $3.71 billion and $3.77 billion, above FactSet's estimate of $3.69 billion.
2. Significant Aerospace & Defense Contract Award.
On February 9, 2026, Curtiss-Wright announced a major contract win, having been selected by Boeing to supply mission computer technology for the U.S. Air Force's C-17 Globemaster III Flight Deck Obsolescence and Technology Refresh program. This contract has an estimated lifetime value in excess of $400 million, solidifying the company's position in critical military aerospace modernization efforts.
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1. Strong Q4 2025 Earnings Beat and Optimistic 2026 Outlook.
Curtiss-Wright reported robust financial results for the fourth quarter of 2025 on February 11, 2026, surpassing analyst expectations with adjusted diluted earnings per share of $3.79, exceeding estimates of $3.66 by $0.13. Quarterly revenue also significantly beat estimates, rising 14.9% year-over-year to $946.98 million against a consensus of $890.14 million. The company provided an upbeat outlook for full-year 2026, projecting higher sales, operating margin expansion, and double-digit EPS growth, with revenue expected to be between $3.71 billion and $3.77 billion, above FactSet's estimate of $3.69 billion.
2. Significant Aerospace & Defense Contract Award.
On February 9, 2026, Curtiss-Wright announced a major contract win, having been selected by Boeing to supply mission computer technology for the U.S. Air Force's C-17 Globemaster III Flight Deck Obsolescence and Technology Refresh program. This contract has an estimated lifetime value in excess of $400 million, solidifying the company's position in critical military aerospace modernization efforts.
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Stock Movement Drivers
Fundamental Drivers
The 30.6% change in CW stock from 12/31/2025 to 4/21/2026 was primarily driven by a 23.7% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 551.08 | 719.51 | 30.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,376 | 3,498 | 3.6% |
| Net Income Margin (%) | 13.8% | 13.8% | 0.5% |
| P/E Multiple | 44.4 | 54.9 | 23.7% |
| Shares Outstanding (Mil) | 37 | 37 | 1.4% |
| Cumulative Contribution | 30.6% |
Market Drivers
12/31/2025 to 4/21/2026| Return | Correlation | |
|---|---|---|
| CW | 30.6% | |
| Market (SPY) | -5.4% | 47.2% |
| Sector (XLI) | 10.5% | 69.6% |
Fundamental Drivers
The 32.6% change in CW stock from 9/30/2025 to 4/21/2026 was primarily driven by a 21.1% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 542.52 | 719.51 | 32.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,305 | 3,498 | 5.8% |
| Net Income Margin (%) | 13.7% | 13.8% | 1.4% |
| P/E Multiple | 45.3 | 54.9 | 21.1% |
| Shares Outstanding (Mil) | 38 | 37 | 2.1% |
| Cumulative Contribution | 32.6% |
Market Drivers
9/30/2025 to 4/21/2026| Return | Correlation | |
|---|---|---|
| CW | 32.6% | |
| Market (SPY) | -2.9% | 56.8% |
| Sector (XLI) | 11.5% | 70.0% |
Fundamental Drivers
The 127.2% change in CW stock from 3/31/2025 to 4/21/2026 was primarily driven by a 85.2% change in the company's P/E Multiple.| (LTM values as of) | 3312025 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 316.72 | 719.51 | 127.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,121 | 3,498 | 12.1% |
| Net Income Margin (%) | 13.0% | 13.8% | 6.7% |
| P/E Multiple | 29.6 | 54.9 | 85.2% |
| Shares Outstanding (Mil) | 38 | 37 | 2.6% |
| Cumulative Contribution | 127.2% |
Market Drivers
3/31/2025 to 4/21/2026| Return | Correlation | |
|---|---|---|
| CW | 127.2% | |
| Market (SPY) | 16.3% | 57.7% |
| Sector (XLI) | 32.2% | 68.0% |
Fundamental Drivers
The 311.6% change in CW stock from 3/31/2023 to 4/21/2026 was primarily driven by a 141.2% change in the company's P/E Multiple.| (LTM values as of) | 3312023 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 174.81 | 719.51 | 311.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,557 | 3,498 | 36.8% |
| Net Income Margin (%) | 11.5% | 13.8% | 20.2% |
| P/E Multiple | 22.7 | 54.9 | 141.2% |
| Shares Outstanding (Mil) | 38 | 37 | 3.7% |
| Cumulative Contribution | 311.6% |
Market Drivers
3/31/2023 to 4/21/2026| Return | Correlation | |
|---|---|---|
| CW | 311.6% | |
| Market (SPY) | 63.3% | 55.7% |
| Sector (XLI) | 76.7% | 65.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CW Return | 20% | 21% | 34% | 60% | 56% | 32% | 540% |
| Peers Return | 9% | 20% | 20% | 23% | 22% | -2% | 132% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 4% | 89% |
Monthly Win Rates [3] | |||||||
| CW Win Rate | 58% | 50% | 67% | 67% | 50% | 75% | |
| Peers Win Rate | 50% | 52% | 52% | 60% | 56% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| CW Max Drawdown | -11% | -9% | -6% | -4% | -20% | 0% | |
| Peers Max Drawdown | -11% | -12% | -10% | -6% | -18% | -18% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LMT, PH, NOC, FLS, DFNS. 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] 2026 data is for the year up to 4/21/2026 (YTD)
How Low Can It Go
| Event | CW | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -20.6% | -25.4% |
| % Gain to Breakeven | 25.9% | 34.1% |
| Time to Breakeven | 123 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -48.7% | -33.9% |
| % Gain to Breakeven | 95.0% | 51.3% |
| Time to Breakeven | 708 days | 148 days |
| 2018 Correction | ||
| % Loss | -31.6% | -19.8% |
| % Gain to Breakeven | 46.2% | 24.7% |
| Time to Breakeven | 352 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -59.6% | -56.8% |
| % Gain to Breakeven | 147.5% | 131.3% |
| Time to Breakeven | 1,744 days | 1,480 days |
Compare to LMT, PH, NOC, FLS, DFNS
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.
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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.
AI Analysis | Feedback
Here are 1-3 brief analogies for Curtiss-Wright:
- Curtiss-Wright is like TransDigm (a major supplier of highly engineered aerospace components) but diversified into defense electronics, naval nuclear systems, and specialized industrial controls.
- Imagine BWX Technologies (a leading supplier of nuclear components for the U.S. Navy and power industry) also had substantial businesses in aerospace components and defense electronics.
AI Analysis | Feedback
```html- Industrial Vehicle Components: Manufactures electronic throttle control devices, joysticks, and transmission shifters for industrial vehicles.
- Aircraft Components: Provides sensors, controls, and electro-mechanical actuation components used in commercial and military aircraft.
- Surface Technology Services: Offers specialized services including shot peening, laser peening, and coatings to enhance material properties.
- Defense Embedded Computing & Instrumentation: Supplies commercial off-the-shelf embedded computing modules, data acquisition, and flight test instrumentation equipment.
- Defense Systems: Delivers integrated subsystems, instrumentation and control systems, turret aiming and stabilization products, and weapons handling systems for defense.
- Avionics & Flight Test Solutions: Provides avionics, electronics, and aircraft data management solutions for military aircraft.
- Nuclear Power Plant Equipment: Manufactures hardware, pumps, seals, control rod drive mechanisms, valves, and spent fuel management products for nuclear power plants.
- Naval Propulsion & Auxiliary Equipment: Produces coolant pumps, motors, generators, steam turbines, and secondary propulsion systems for naval vessels.
- Ship Repair & Maintenance Services: Offers specialized repair and maintenance services primarily for the U.S. Navy.
AI Analysis | Feedback
Curtiss-Wright (CW) primarily sells its engineered products, solutions, and services to other companies (B2B) and government entities (B2G) within the aerospace, defense, general industrial, and power generation markets.
Based on the company description, its major customers include:
- The U.S. Navy: Explicitly mentioned as a primary customer for naval propulsion and auxiliary equipment, as well as ship repair and maintenance services within the Naval & Power segment.
- Prime Defense Contractors: Curtiss-Wright supplies a wide array of embedded computing, avionics, flight test instrumentation, turret aiming and stabilization products, and weapons handling systems for military aircraft, vehicles, and naval platforms. Major defense contractors that integrate these solutions include:
- Commercial Aerospace Manufacturers: For sensors, controls, and electro-mechanical actuation components used in commercial aircraft. A leading customer in this category would be:
- Boeing (BA)
- Nuclear Power Plant Operators and Nuclear Equipment Manufacturers: Curtiss-Wright provides critical hardware, pumps, valves, and fluid sealing products for nuclear power plants. These customers are utility companies or specialized manufacturers in the nuclear energy sector.
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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 a member of the Board. She assumed the role of Chair of the Board of Directors in May 2022. Prior to her CEO role, she served as President of the Defense and Power Segments since January 2020, overseeing strategic goals, technology development, global operations, and financial performance. From 2013 through 2019, she was Senior Vice President and General Manager of the Defense Solutions division. Ms. Bamford joined Curtiss-Wright in 2004 with its acquisition of Dy4, where she held several engineering and leadership positions. She has over 30 years of operational experience across the defense, aerospace, and commercial industries, and successfully led the Company through nine acquisitions during her tenure. Ms. Bamford 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. Before this, he served as Vice President of Finance of Curtiss-Wright Corporation from December 2017, and held positions as Vice President and Corporate Controller since 2014, and Assistant Corporate Controller since May 2009. Mr. Farkas has more than 17 years of experience in financial, technical, and operational roles of increasing responsibility within Fortune 50/250 industrial companies, including United Technologies Corporation and Parker Hannifin, prior to joining Curtiss-Wright. He holds a Bachelor of Science Degree in Accounting from Central Connecticut State University, an MBA from Purdue University, Krannert School of Management, and an Executive MBA Degree from the ESCP Europe (European School of Management). He is a CPA and a Member of the AICPA.
Christopher J. Rayment
Vice President and Chief Operating Officer
Mr. Rayment was named Vice President and Chief Operating Officer of Curtiss-Wright Corporation in 2021. Previously, he was President of the Commercial / Industrial Segment starting in January 2020. He brings over 30 years of experience across the commercial, general industrial, aerospace, nuclear, and defense industries.
Gary Ogilby
Vice President and Corporate Controller
Mr. Ogilby was named Vice President and Corporate Controller of Curtiss-Wright Corporation in 2020. Before this role, he was Vice President of Finance and Administration at the Corporation's Surface Technologies division starting in 2016. He served as Assistant Corporate Controller of the Corporation since 2014 and held other corporate financial managerial roles of increasing responsibility since 2010. Prior to joining Curtiss-Wright, he worked at Ernst & Young, where he primarily served public multi-national corporations. Mr. Ogilby holds a Bachelor of Science Degree in Accounting from the College of New Jersey and is a CPA and a Member of the AICPA.
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Here are the key risks to Curtiss-Wright's business:
- Dependence on Government Spending and Contracts: A significant portion of Curtiss-Wright's revenue, approximately 58% of its 2025 net sales, is derived from the U.S. Government and foreign government end-use. This heavy reliance makes the company vulnerable to fluctuations in defense budgets, changes in government priorities, and political pressures, which could directly impact sales volumes and profitability.
- Regulatory and Compliance Risks: As a major contractor for government entities, Curtiss-Wright is subject to a complex web of U.S. Government procurement rules, regulations, and international laws. Non-compliance with these stringent regulations could result in severe penalties, fines, or even debarment from future government contracts, significantly harming the company's financial performance and reputation.
- Cybersecurity Threats: The company's increasing reliance on advanced information systems makes it highly susceptible to cybersecurity threats. The risk of unauthorized access, data breaches, or system disruptions could compromise sensitive information, disrupt operations, and damage Curtiss-Wright's reputation, potentially leading to significant financial losses and customer distrust.
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Addressable Markets for Curtiss-Wright's Main Products and Services
Curtiss-Wright (symbol: CW) operates across diverse markets, providing engineered products, solutions, and services. The addressable market sizes for its key offerings are outlined below, along with the relevant geographical regions.Aerospace & Industrial Segment
- Industrial Vehicle Control Products (Joysticks, Throttle Controls, Shifters): The global industrial joysticks market was valued at USD 2,128.7 million in 2024 and is projected to grow to USD 3,500 million by 2035. Specifically, the global industrial fingertip joystick market was valued at USD 342.7 million in 2025 and is projected to reach USD 589.2 million by 2034. The industrial switch joystick market is expected to reach USD 2.20 billion by 2030. North America held the majority share of the Industrial Joysticks Sales Market in 2024.
- Aircraft Sensors, Controls, and Electro-Mechanical Actuation Components:
- Aircraft Sensors: The global aircraft sensors market size was estimated at USD 7.85 billion in 2025 and is predicted to increase to approximately USD 19.74 billion by 2035. North America led the global market with a 36% market share in 2025.
- Electro-Mechanical Actuators in Aircraft: The global electromechanical actuators in aircraft market is projected to reach USD 804.3 million by 2030, growing from USD 577.1 million in 2025. North America is projected to account for the largest share in this market.
- Surface Technology Services (Shot Peening, Laser Peening, Coatings):
- Shot Peening Services: The global shot peening services market size reached USD 1.27 billion in 2024 and is anticipated to expand to approximately USD 2.19 billion by 2033. North America remains a key market, with a 28% market share in 2024, while Europe contributes approximately 40% of the global market share.
- Laser Shock Peening Services: The global Laser Shock Peening Services market size was valued at USD 124 billion in 2024 and is projected to reach USD 490.86 billion by 2032. Alternatively, another source states the global Laser Shock Peening Services market size was approximately USD 500 million in 2023 and is expected to reach around USD 965 million by 2032. North America's market size for LSP services was estimated at approximately USD 200 million in 2023.
Defense Electronics Segment
- Avionics and Electronics: The global avionics market size was valued at USD 69.8 billion in 2024 and is projected to reach USD 156.0 billion by 2035. North America dominated the avionics market with a 34% market share in 2024.
- Flight Test Equipment: The global flight testing tool market size was valued at USD 281 million in 2024 and is projected to grow to USD 380 million by 2032. The global aviation test equipment market was valued at USD 9.1 billion in 2025 and is expected to reach USD 13.9 billion by 2036. North America dominated the aviation test equipment market with the largest revenue share of over 45% in 2025.
- Aircraft Data Management Solutions: The global aircraft data management market is evolving, with North America dominating with 43.7% of the market share in 2025. The flight data monitoring and analysis market is projected to grow from USD 1.6 billion in 2025 to USD 3.7 billion by 2035. The aviation analytics market size is estimated at USD 4.2 billion in 2026 and is set to reach USD 7.47 billion by 2031.
Naval & Power Segment
- Nuclear Power Plant Equipment and Components: The global nuclear power plant equipment market size was estimated at USD 22.25 billion in 2025 and is projected to reach USD 28.82 billion by 2033. The global nuclear power plant equipment market size reached USD 41.7 billion in 2024 and is expected to reach USD 54.6 billion by 2033. Asia Pacific, particularly East Asia, holds the largest share of this market. The global Nuclear Power Plant Core Components market was valued at US$ 5,689 million in 2024 and is projected to reach US$ 10,310 million by 2031.
- Naval Propulsion and Auxiliary Equipment, and Ship Repair and Maintenance Services for the U.S. Navy: The global Naval Vessel Maintenance, Repair, and Overhaul (MRO) market was valued at USD 58.67 billion in 2025 and is expected to reach USD 71.74 billion by 2035. The U.S. Naval Vessel MRO market size was valued at USD 16.66 billion in 2025 and is projected to reach USD 18.23 billion by 2035. North America led the Naval Vessel MRO Market in 2025 with an estimated 40% market share. The U.S. Ship Repair and Maintenance Services Market size was valued at USD 11.94 million in 2024 and is projected to reach USD 13.13 million by 2032.
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Curtiss-Wright (CW) is expected to experience future revenue growth over the next 2-3 years driven by several key factors:
- Sustained Demand in Aerospace & Defense Markets: The company anticipates continued strong demand across its Aerospace & Defense (A&D) markets, including naval defense, ground defense, and commercial aerospace, particularly in OEM sales for narrow-body and wide-body aircraft platforms. This is supported by a robust and growing backlog.
- Expansion in the Commercial Nuclear Market: Curtiss-Wright projects significant growth within the commercial nuclear market. This includes demand for aftermarket products and advancements in Small Modular Reactors (SMRs).
- Strategic Acquisitions: Acquisitions, such as the recently completed integration of Ultra Energy, are expected to contribute to the company's overall sales growth. This indicates a strategy of inorganic growth contributing to revenue expansion.
- Investments in Innovative Technologies and Research & Development (R&D): Curtiss-Wright is increasing its investments in innovative technologies and R&D to support future growth vectors. These investments are aimed at developing new products and enhancing existing solutions, thereby strengthening its market position and driving future sales.
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Share Repurchases
- Curtiss-Wright has returned over $1.1 billion to shareholders through share repurchase activities since early 2021.
- The company anticipates record annual share repurchases of $466 million in 2025.
- As of November 2025, the Board of Directors authorized an additional $416 million for future share repurchases, increasing the total available authorization to $550 million.
Share Issuance
- For 2025, Curtiss-Wright expects to minimally repurchase $66 million in shares via ongoing 10b5-1 programs, which is anticipated to offset potential dilution from compensation plans. Similarly, the company expects to repurchase $60 million in shares in January 2026 via a 10b5-1 program, expected to offset potential dilution from compensation plans.
Outbound Investments
- In January 2025, Curtiss-Wright completed the acquisition of Ultra Energy (Ultra Nuclear Limited and Weed Instrument Co., Inc.) for $200 million in cash, aiming to increase the breadth of its global commercial nuclear portfolio.
- The company acquired WSC, Inc. in April 2024 for approximately $34 million in cash, a move that expanded its portfolio of advanced commercial nuclear technologies through simulation technology.
- Curtiss-Wright acquired Keronite for $35 million in November 2022.
Capital Expenditures
- Capital expenditures for 2025 increased to $90 million, with a primary focus on the Aerospace & Industrial and Naval & Power segments.
- For 2025, free cash flow guidance included higher capital expenditures, reflecting a nearly $25 million year-over-year increase compared to 2024 results, supporting growth and efficiency initiatives.
- Projected capital expenditures for 2026 are expected to be between $110 million and $120 million, continuing to support strategic acquisitions and capital investments.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 591.54 |
| Mkt Cap | 56.7 |
| Rev LTM | 12,595 |
| Op Inc LTM | 2,465 |
| FCF LTM | 1,929 |
| FCF 3Y Avg | 1,443 |
| CFO LTM | 2,192 |
| CFO 3Y Avg | 2,057 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.3% |
| Rev Chg 3Y Avg | 5.4% |
| Rev Chg Q | 9.1% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Inc Chg LTM | 12.0% |
| Op Inc Chg 3Y Avg | 13.7% |
| Op Mgn LTM | 11.1% |
| Op Mgn 3Y Avg | 10.9% |
| QoQ Delta Op Mgn LTM | 0.9% |
| CFO/Rev LTM | 11.4% |
| CFO/Rev 3Y Avg | 11.0% |
| FCF/Rev LTM | 9.2% |
| FCF/Rev 3Y Avg | 8.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 56.7 |
| P/S | 2.2 |
| P/Op Inc | 19.3 |
| P/EBIT | 18.0 |
| P/E | 28.2 |
| P/CFO | 19.6 |
| Total Yield | 4.7% |
| Dividend Yield | 0.6% |
| FCF Yield 3Y Avg | 4.0% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -0.8% |
| 3M Rtn | 2.3% |
| 6M Rtn | 23.6% |
| 12M Rtn | 53.8% |
| 3Y Rtn | 98.7% |
| 1M Excs Rtn | -9.4% |
| 3M Excs Rtn | -1.6% |
| 6M Excs Rtn | 18.5% |
| 12M Excs Rtn | 17.1% |
| 3Y Excs Rtn | 27.0% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $719.51 | |
| Market Cap ($ Bil) | 26.6 | |
| First Trading Date | 11/05/1987 | |
| Distance from 52W High | -3.1% | |
| 50 Days | 200 Days | |
| DMA Price | $695.15 | $581.84 |
| DMA Trend | up | up |
| Distance from DMA | 3.5% | 23.7% |
| 3M | 1YR | |
| Volatility | 41.2% | 32.1% |
| Downside Capture | 0.39 | 0.49 |
| Upside Capture | 205.69 | 175.53 |
| Correlation (SPY) | 38.2% | 42.9% |
CW Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.05 | 1.39 | 1.48 | 1.60 | 1.03 | 1.04 |
| Up Beta | 1.81 | 1.83 | 1.31 | 1.19 | 0.87 | 0.88 |
| Down Beta | 0.94 | -0.16 | 0.43 | 0.94 | 0.91 | 1.06 |
| Up Capture | 351% | 261% | 335% | 318% | 233% | 230% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 11 | 23 | 36 | 70 | 154 | 429 |
| Down Capture | 180% | 136% | 123% | 148% | 101% | 99% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 11 | 19 | 27 | 56 | 98 | 318 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CW | |
|---|---|---|---|---|
| CW | 127.1% | 32.1% | 2.58 | - |
| Sector ETF (XLI) | 38.5% | 15.4% | 1.91 | 60.8% |
| Equity (SPY) | 23.7% | 12.7% | 1.52 | 45.3% |
| Gold (GLD) | 41.4% | 27.5% | 1.25 | 17.8% |
| Commodities (DBC) | 22.4% | 16.2% | 1.25 | 8.6% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 16.1% |
| Bitcoin (BTCUSD) | -10.4% | 42.7% | -0.14 | 32.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CW | |
|---|---|---|---|---|
| CW | 42.6% | 27.7% | 1.30 | - |
| Sector ETF (XLI) | 12.9% | 17.3% | 0.59 | 66.7% |
| Equity (SPY) | 10.8% | 17.1% | 0.49 | 56.3% |
| Gold (GLD) | 21.6% | 17.8% | 0.99 | 17.9% |
| Commodities (DBC) | 10.9% | 18.8% | 0.47 | 22.6% |
| Real Estate (VNQ) | 4.1% | 18.8% | 0.12 | 37.4% |
| Bitcoin (BTCUSD) | 3.8% | 56.4% | 0.29 | 20.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CW | |
|---|---|---|---|---|
| CW | 25.8% | 30.2% | 0.82 | - |
| Sector ETF (XLI) | 14.0% | 19.9% | 0.62 | 76.5% |
| Equity (SPY) | 13.9% | 17.9% | 0.67 | 65.9% |
| Gold (GLD) | 13.7% | 15.9% | 0.71 | 7.4% |
| Commodities (DBC) | 8.2% | 17.6% | 0.39 | 29.8% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 51.8% |
| Bitcoin (BTCUSD) | 68.0% | 66.9% | 1.07 | 16.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/12/2026 | 5.8% | 10.8% | 3.4% |
| 2/13/2025 | -1.2% | -3.4% | -5.6% |
| 10/31/2024 | -2.5% | 6.7% | 5.7% |
| 8/8/2024 | 6.9% | 11.6% | 9.5% |
| 5/2/2024 | 2.3% | 6.7% | 10.1% |
| 2/15/2024 | 0.7% | 1.7% | 3.5% |
| 11/2/2023 | 1.9% | 2.2% | 9.4% |
| 8/3/2023 | 4.8% | 9.7% | 9.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 14 | 15 |
| # Negative | 7 | 7 | 6 |
| Median Positive | 2.3% | 6.7% | 9.5% |
| Median Negative | -3.9% | -3.9% | -2.1% |
| Max Positive | 6.9% | 16.6% | 44.0% |
| Max Negative | -6.5% | -9.1% | -5.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 3.71 Bil | 3.74 Bil | 3.77 Bil | 11.2% | Higher New | Actual: 3.36 Bil for 2025 | |
| 2026 Operating Income | 703.00 Mil | 712.50 Mil | 722.00 Mil | 17.7% | Higher New | Actual: 605.50 Mil for 2025 | |
| 2026 Operating Margin | 18.9% | 19.05% | 19.2% | 5.8% | 1.0% | Higher New | Actual: 18.0% for 2025 |
| 2026 EPS | 14.7 | 14.9 | 15.2 | 21.8% | Higher New | Actual: 12.2 for 2025 | |
| 2026 Free Cash Flow | 575.00 Mil | 585.00 Mil | 595.00 Mil | 18.2% | Higher New | Actual: 495.00 Mil for 2025 | |
Prior: Q4 2024 Earnings Reported 2/13/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | 3.33 Bil | 3.36 Bil | 3.38 Bil | 9.4% | Higher New | Guidance: 3.07 Bil for 2024 | |
| 2025 Operating Income | 598.00 Mil | 605.50 Mil | 613.00 Mil | 12.5% | Higher New | Guidance: 538.00 Mil for 2024 | |
| 2025 Operating Margin | 17.9% | 18.0% | 18.1% | 2.9% | 0.5% | Higher New | Guidance: 17.5% for 2024 |
| 2025 EPS | 12.1 | 12.2 | 12.4 | 15.0% | Higher New | Guidance: 10.7 for 2024 | |
| 2025 Free Cash Flow | 485.00 Mil | 495.00 Mil | 505.00 Mil | 12.5% | Higher New | Guidance: 440.00 Mil for 2024 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Watts, John C | EVP & Chief Growth Officer | Direct | Sell | 1062026 | 578.84 | 107 | 61,936 | 2,012,048 | Form |
| 2 | Watts, John C | Vice President Strat & Bus Dev | Direct | Sell | 12292025 | 575.00 | 118 | 67,850 | 2,052,750 | Form |
| 3 | Watts, John C | Vice President Strat & Bus Dev | Direct | Sell | 11252025 | 546.97 | 175 | 95,720 | 2,017,225 | Form |
| 4 | Bamford, Lynn M | Chair and CEO | Direct | Sell | 11172025 | 549.07 | 3,750 | 2,059,013 | 19,444,216 | Form |
| 5 | Farkas, K Christopher | Vice President and CFO | Direct | Sell | 11132025 | 577.91 | 5,047 | 2,916,712 | 2,448,027 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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