Woodward (WWD)
Market Price (9/22/2026): $326.06 | Market Cap: $19.4 BilSector: Industrials | Industry: Electrical Components & Equipment
Woodward (WWD)
Market Price (9/22/2026): $326.06Market Cap: $19.4 BilSector: IndustrialsIndustry: Electrical Components & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14% Stock buyback supportStock Buyback 3Y Total is 1.2 Bil Low stock price volatilityVol 12M is 39% Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Hydrogen Economy, and Renewable Energy Transition. Themes include Advanced Air Mobility, Show more. | Key risksWWD key risks include [1] high customer concentration, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Stock buyback supportStock Buyback 3Y Total is 1.2 Bil |
| Low stock price volatilityVol 12M is 39% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Hydrogen Economy, and Renewable Energy Transition. Themes include Advanced Air Mobility, Show more. |
| Key risksWWD key risks include [1] high customer concentration, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/16/2026
Woodward (WWD) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Negative investor reaction to fiscal Q3 2026 outlook and concerns over pricing normalization. Despite Woodward reporting adjusted earnings per share (EPS) of $2.52 for its fiscal third quarter ended June 30, 2026, which surpassed analysts' expectations of $2.42, and revenue of $1.1 billion that met forecasts, the stock experienced a significant decline. The shares fell 6.12% in regular trading and an additional 8.93% after hours on July 29, 2026, to $351. This downturn was largely attributed to investor concerns regarding the "likely normalization of pricing gains" and broader questions about future margins and cash flow, despite the company raising its full-year fiscal 2026 adjusted EPS guidance to $9.30-$9.50.
2. Significant insider selling by a director. On June 4, 2026, Daniel G. Korte, a Director at Woodward, executed an exercise-and-sell transaction involving 14,700 shares. These shares were sold in open-market transactions at weighted-average prices between $354.06 and $357.21 per share, resulting in gross sale proceeds of approximately $5.23 million. This substantial insider selling could be interpreted by the market as a lack of confidence from within the company.
Show more
Woodward (WWD) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Negative investor reaction to fiscal Q3 2026 outlook and concerns over pricing normalization. Despite Woodward reporting adjusted earnings per share (EPS) of $2.52 for its fiscal third quarter ended June 30, 2026, which surpassed analysts' expectations of $2.42, and revenue of $1.1 billion that met forecasts, the stock experienced a significant decline. The shares fell 6.12% in regular trading and an additional 8.93% after hours on July 29, 2026, to $351. This downturn was largely attributed to investor concerns regarding the "likely normalization of pricing gains" and broader questions about future margins and cash flow, despite the company raising its full-year fiscal 2026 adjusted EPS guidance to $9.30-$9.50.
2. Significant insider selling by a director. On June 4, 2026, Daniel G. Korte, a Director at Woodward, executed an exercise-and-sell transaction involving 14,700 shares. These shares were sold in open-market transactions at weighted-average prices between $354.06 and $357.21 per share, resulting in gross sale proceeds of approximately $5.23 million. This substantial insider selling could be interpreted by the market as a lack of confidence from within the company.
Show more
Updated on 9/16/2026
Woodward (WWD) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Negative investor reaction to fiscal Q3 2026 outlook and concerns over pricing normalization. Despite Woodward reporting adjusted earnings per share (EPS) of $2.52 for its fiscal third quarter ended June 30, 2026, which surpassed analysts' expectations of $2.42, and revenue of $1.1 billion that met forecasts, the stock experienced a significant decline. The shares fell 6.12% in regular trading and an additional 8.93% after hours on July 29, 2026, to $351. This downturn was largely attributed to investor concerns regarding the "likely normalization of pricing gains" and broader questions about future margins and cash flow, despite the company raising its full-year fiscal 2026 adjusted EPS guidance to $9.30-$9.50.
2. Significant insider selling by a director. On June 4, 2026, Daniel G. Korte, a Director at Woodward, executed an exercise-and-sell transaction involving 14,700 shares. These shares were sold in open-market transactions at weighted-average prices between $354.06 and $357.21 per share, resulting in gross sale proceeds of approximately $5.23 million. This substantial insider selling could be interpreted by the market as a lack of confidence from within the company.
3. Elevated capital expenditure guidance for fiscal Q4 2026. Following the fiscal Q3 2026 earnings report, Woodward maintained its capital spending guidance at approximately $290 million for the full fiscal year 2026. However, management indicated expectations for a "meaningful increase in capital spending in the fourth quarter" of fiscal 2026. This anticipated rise in capital expenditures likely contributed to investor apprehension regarding future cash flow, which was highlighted as a point of focus for investors following the earnings report.
Show less
Woodward (WWD) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Negative investor reaction to fiscal Q3 2026 outlook and concerns over pricing normalization. Despite Woodward reporting adjusted earnings per share (EPS) of $2.52 for its fiscal third quarter ended June 30, 2026, which surpassed analysts' expectations of $2.42, and revenue of $1.1 billion that met forecasts, the stock experienced a significant decline. The shares fell 6.12% in regular trading and an additional 8.93% after hours on July 29, 2026, to $351. This downturn was largely attributed to investor concerns regarding the "likely normalization of pricing gains" and broader questions about future margins and cash flow, despite the company raising its full-year fiscal 2026 adjusted EPS guidance to $9.30-$9.50.
2. Significant insider selling by a director. On June 4, 2026, Daniel G. Korte, a Director at Woodward, executed an exercise-and-sell transaction involving 14,700 shares. These shares were sold in open-market transactions at weighted-average prices between $354.06 and $357.21 per share, resulting in gross sale proceeds of approximately $5.23 million. This substantial insider selling could be interpreted by the market as a lack of confidence from within the company.
3. Elevated capital expenditure guidance for fiscal Q4 2026. Following the fiscal Q3 2026 earnings report, Woodward maintained its capital spending guidance at approximately $290 million for the full fiscal year 2026. However, management indicated expectations for a "meaningful increase in capital spending in the fourth quarter" of fiscal 2026. This anticipated rise in capital expenditures likely contributed to investor apprehension regarding future cash flow, which was highlighted as a point of focus for investors following the earnings report.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -7.0% change in WWD stock from 5/31/2026 to 9/21/2026 was primarily driven by a -13.7% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9212026 | Change |
|---|---|---|---|
| Stock Price ($) | 349.72 | 325.16 | -7.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,998 | 4,192 | 4.9% |
| Net Income Margin (%) | 12.9% | 13.2% | 2.5% |
| P/E Multiple | 40.6 | 35.0 | -13.7% |
| Shares Outstanding (Mil) | 60 | 59 | 0.3% |
| Cumulative Contribution | -7.0% |
Market Drivers
5/31/2026 to 9/21/2026| Return | Correlation | |
|---|---|---|
| WWD | -7.0% | |
| Market (SPY) | 2.5% | 27.7% |
| Sector (XLI) | -1.6% | 61.6% |
Fundamental Drivers
The -15.8% change in WWD stock from 2/28/2026 to 9/21/2026 was primarily driven by a -25.9% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9212026 | Change |
|---|---|---|---|
| Stock Price ($) | 386.07 | 325.16 | -15.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,791 | 4,192 | 10.6% |
| Net Income Margin (%) | 12.9% | 13.2% | 2.1% |
| P/E Multiple | 47.3 | 35.0 | -25.9% |
| Shares Outstanding (Mil) | 60 | 59 | 0.7% |
| Cumulative Contribution | -15.8% |
Market Drivers
2/28/2026 to 9/21/2026| Return | Correlation | |
|---|---|---|
| WWD | -15.8% | |
| Market (SPY) | 13.4% | 47.5% |
| Sector (XLI) | -3.5% | 71.2% |
Fundamental Drivers
The 32.2% change in WWD stock from 8/31/2025 to 9/21/2026 was primarily driven by a 22.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312025 | 9212026 | Change |
|---|---|---|---|
| Stock Price ($) | 245.91 | 325.16 | 32.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,426 | 4,192 | 22.3% |
| Net Income Margin (%) | 11.3% | 13.2% | 16.4% |
| P/E Multiple | 37.8 | 35.0 | -7.5% |
| Shares Outstanding (Mil) | 60 | 59 | 0.4% |
| Cumulative Contribution | 32.2% |
Market Drivers
8/31/2025 to 9/21/2026| Return | Correlation | |
|---|---|---|
| WWD | 32.2% | |
| Market (SPY) | 21.2% | 41.1% |
| Sector (XLI) | 13.3% | 63.6% |
Fundamental Drivers
The 155.3% change in WWD stock from 8/31/2023 to 9/21/2026 was primarily driven by a 79.5% change in the company's Net Income Margin (%).| (LTM values as of) | 8312023 | 9212026 | Change |
|---|---|---|---|
| Stock Price ($) | 127.38 | 325.16 | 155.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,778 | 4,192 | 50.9% |
| Net Income Margin (%) | 7.3% | 13.2% | 79.5% |
| P/E Multiple | 37.5 | 35.0 | -6.7% |
| Shares Outstanding (Mil) | 60 | 59 | 1.0% |
| Cumulative Contribution | 155.3% |
Market Drivers
8/31/2023 to 9/21/2026| Return | Correlation | |
|---|---|---|
| WWD | 155.3% | |
| Market (SPY) | 78.3% | 50.2% |
| Sector (XLI) | 64.0% | 61.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WWD Return | -9% | -11% | 42% | 23% | 83% | 7% | 174% |
| Peers Return | 20% | 0% | 39% | 39% | 36% | 12% | 250% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| WWD Win Rate | 42% | 58% | 67% | 67% | 83% | 44% | |
| Peers Win Rate | 58% | 42% | 57% | 63% | 63% | 51% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| WWD Max Drawdown | -21% | -37% | -19% | -19% | -19% | -27% | |
| Peers Max Drawdown | -15% | -28% | -19% | -14% | -23% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HON, PH, ETN, RTX, GE. See WWD 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 9/21/2026 (YTD)
How Low Can It Go
| Event | WWD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -17.8% | -18.8% |
| % Gain to Breakeven | 21.6% | 23.1% |
| Time to Breakeven | 28 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.1% | -7.8% |
| % Gain to Breakeven | 16.5% | 8.5% |
| Time to Breakeven | 100 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.5% | -6.7% |
| % Gain to Breakeven | 15.6% | 7.1% |
| Time to Breakeven | 46 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -27.0% | -24.5% |
| % Gain to Breakeven | 36.9% | 32.4% |
| Time to Breakeven | 118 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -58.0% | -33.7% |
| % Gain to Breakeven | 138.1% | 50.9% |
| Time to Breakeven | 274 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -13.9% | -19.2% |
| % Gain to Breakeven | 16.1% | 23.8% |
| Time to Breakeven | 36 days | 105 days |
In The Past
Woodward's stock fell -17.8% during the 2025 US Tariff Shock. Such a loss loss requires a 21.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | WWD | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -27.0% | -24.5% |
| % Gain to Breakeven | 36.9% | 32.4% |
| Time to Breakeven | 118 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -58.0% | -33.7% |
| % Gain to Breakeven | 138.1% | 50.9% |
| Time to Breakeven | 274 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -22.8% | -6.8% |
| % Gain to Breakeven | 29.6% | 7.3% |
| Time to Breakeven | 171 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -30.3% | -17.9% |
| % Gain to Breakeven | 43.5% | 21.8% |
| Time to Breakeven | 43 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -27.6% | -15.4% |
| % Gain to Breakeven | 38.2% | 18.2% |
| Time to Breakeven | 141 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -77.4% | -53.4% |
| % Gain to Breakeven | 341.6% | 114.4% |
| Time to Breakeven | 632 days | 1085 days |
In The Past
Woodward's stock fell -17.8% during the 2025 US Tariff Shock. Such a loss loss requires a 21.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Woodward (WWD)
Woodward, Inc. (WWD) is a global leader specializing in the design, manufacture, and service of precision control solutions for critical applications across two main segments: Aerospace and Industrial. The company’s core expertise lies in developing complex systems that manage power generation and motion control in demanding environments worldwide.
In its Aerospace segment, Woodward supplies a broad array of components vital for aircraft and defense systems. This includes fuel pumps, metering units, actuators, valves, fuel nozzles, and flight deck controls. These products are integral to turbine engines, nacelles, and various commercial, private, and military aircraft, as well as guided weapons. Beyond manufacturing, the company provides essential aftermarket maintenance, repair, and overhaul services to original equipment manufacturers (OEMs), airlines, and defense clients.
For the Industrial segment, Woodward offers control products such as actuators, valves, fuel injection systems, and sensors. These solutions are crucial for enhancing the performance and efficiency of industrial gas turbines, steam turbines, compressors, and reciprocating engines. The company serves a diverse customer base, including OEMs, tier-one suppliers, and various end users across both segments, selling its products directly and through a network of distributors.
AI Analysis | Feedback
Here are 1-3 brief analogies for Woodward (WWD):
- Woodward is like a focused Honeywell for the essential control systems inside aircraft and industrial machinery.
- Woodward is like a specialized Parker-Hannifin, providing high-precision control components for aircraft and industrial engines.
- Woodward is like a compact Collins Aerospace, concentrating on precision power and motion control for aircraft engines and industrial turbines.
AI Analysis | Feedback
- Fuel and Fluid Management Systems: Provides components such as fuel pumps, metering units, fuel nozzles, and fuel injection systems for efficient control of fuel and other fluids in engines and turbines.
- Actuation and Motion Control Systems: Develops actuators, servocontrols, flight deck controls, and thrust reverser actuation systems that precisely manage mechanical movements in aircraft and industrial machinery.
- Engine and Turbine Control Electronics: Offers advanced electronic controls, ignition systems, solenoids, speed controls, and sensors to regulate the performance of gas turbines, steam turbines, and reciprocating engines.
- Specialty Valves and Air Systems: Designs and manufactures various air valves and specialty valves critical for controlling fluid and air flow within aerospace and industrial applications.
- Aftermarket Maintenance, Repair, and Overhaul (MRO) Services: Provides comprehensive maintenance, repair, overhaul, and provisioning of spare parts to ensure the long-term operational integrity of its control solutions.
AI Analysis | Feedback
Woodward (WWD) primarily designs, manufactures, and services control solutions for other businesses within the aerospace and industrial markets. Based on the company description, its major customers are within the following categories. While specific customer names are not listed in the provided background, the following are examples of major companies that would typically fall into these customer categories within the industries Woodward serves:
-
Original Equipment Manufacturers (OEMs): These companies integrate Woodward's components into their larger systems, such as aircraft, engines, turbines, and compressors.
- Aerospace OEMs (for aircraft, engines, and defense systems):
- Boeing (BA)
- Lockheed Martin (LMT)
- Raytheon Technologies (RTX) - includes major aerospace and engine manufacturers like Pratt & Whitney and Collins Aerospace
- GE Aerospace (part of General Electric, GE)
- Airbus (private company, but a major global aerospace OEM)
- Industrial OEMs (for industrial gas turbines, steam turbines, compressors, and reciprocating engines):
- General Electric (GE)
- Siemens Energy (SIEGY)
- Caterpillar (CAT)
- Mitsubishi Heavy Industries (7011.T on the Tokyo Stock Exchange, or MHVYF as an ADR)
- Aerospace OEMs (for aircraft, engines, and defense systems):
- Tier-One Suppliers and Prime Contractors: Especially in the aerospace segment, Woodward sells to companies that supply major subsystems to the ultimate OEMs or directly to defense agencies. Examples would include major aerospace and defense contractors that act as system integrators or provide large components.
-
Aftermarket Customers: This category encompasses various entities involved in maintenance, repair, and overhaul (MRO), as well as direct end-users for spare parts and services.
- Commercial airlines
- Military depots
- Third-party repair facilities
- Direct industrial end-users (companies operating industrial gas turbines, steam turbines, compressors, and reciprocating engines)
AI Analysis | Feedback
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AI Analysis | Feedback
Charles "Chip" Blankenship, Chairman of the Board, Chief Executive Officer, and President
Chip Blankenship has served as Chairman of the Board and CEO of Woodward since May 2022. Prior to joining Woodward, he was the CEO of Arconic Corporation, an aircraft parts supplier. He also spent 24 years at General Electric (GE) in leadership roles within aerospace and defense sectors, including serving as CEO of GE Appliances, Vice President and General Manager of Commercial Aircraft Engines, and General Manager of GE Aero Energy.
William (Bill) Lacey, Executive Vice President and Chief Financial Officer
Bill Lacey was appointed Chief Financial Officer of Woodward, Inc. effective May 8, 2023. Before joining Woodward, he served as Vice President of Finance for Amazon's Books and Kindle Content. Prior to Amazon, he was President and CEO of Savant's Lighting division, a role he continued after the division's acquisition by Savant. He also had a 28-year career at General Electric (GE), where he served as President and CEO of GE's Lighting division and held senior financial leadership positions, including CFO of GE's Healthcare Medical Diagnostic and Wind Energy divisions.
Tom Cromwell, Executive Vice President and Chief Operating Officer
Tom Cromwell has direct oversight of Woodward's business groups, global supply chain, and operational excellence groups. He brings significant global experience in advanced manufacturing settings and a proven track record of delivering strong operational results.
Shawn McLevige, Executive Vice President and President, Aerospace Segment
Shawn McLevige, effective October 1, 2025, serves as Executive Vice President and President of Woodward's Aerospace Segment. He has over two decades of aerospace leadership, innovation, and technical expertise, and has been with Woodward for 18 years, holding various leadership roles including Vice President and General Manager of Engine and Turbine Fluid Systems.
Randy Hobbs, Executive Vice President and President, Industrial Segment
Randy Hobbs is responsible for direct oversight of Woodward's industrial large and small engine systems within the Industrial segment.
AI Analysis | Feedback
The key risks to Woodward's business operations are primarily linked to the cyclical nature of its end markets and its dependence on original equipment manufacturers (OEMs).
- Cyclicality and Sensitivity to End-Market Conditions: Woodward's performance is highly exposed to the cyclical demands of both the aerospace and industrial sectors globally. The aerospace segment, which provides control solutions for commercial, private, and military aircraft, is sensitive to factors such as global economic conditions, air travel demand, airline profitability, and government defense spending. Similarly, the industrial segment, which offers control solutions for turbines, compressors, and engines, is influenced by global economic growth, energy prices, and capital expenditure decisions in power generation, oil & gas, and heavy industry sectors. Downturns or volatility in these key end markets can directly impact the demand for Woodward's products and services.
- Dependence on Original Equipment Manufacturers (OEMs): Woodward operates significantly as a supplier to Original Equipment Manufacturers in both its aerospace and industrial segments. Its financial performance is closely tied to the production volumes, program schedules, and overall financial health of these OEM customers. Delays in new program introductions, cancellations of existing programs, or reductions in production rates by OEMs can directly and negatively affect Woodward's revenue, order backlog, and profitability.
AI Analysis | Feedback
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AI Analysis | Feedback
Woodward, Inc. (WWD) designs, manufactures, and services control solutions across the aerospace and industrial markets. The addressable markets for its main products and services are substantial and global in scope.
Aerospace Segment
Woodward's Aerospace segment provides critical components and systems such as fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, thrust reverser actuation systems, flight deck controls, servocontrols, motors, and sensors for various aircraft. It also offers aftermarket maintenance, repair, and overhaul (MRO) services. * Aircraft Fuel Systems Market: The global aircraft fuel system market was valued at approximately USD 10.6 billion in 2024 and is projected to reach USD 17.3 billion by 2034. Another estimate places the global market at USD 10.71 billion in 2025, expected to reach USD 20.54 billion by 2035. North America's market for aircraft fuel systems is anticipated to exceed USD 7 billion by 2034. * Aircraft Actuators Market: The global aircraft actuator market was valued at USD 12.9 billion in 2024 and is expected to grow to USD 18.8 billion by 2030. Another report indicates the global market size was USD 14.5 billion in 2021 and is projected to reach USD 24.1 billion by 2031. North America holds the largest share in the global aircraft actuator market. * Aerospace Flight Control Systems Market: The global aerospace flight control system market was estimated at USD 7.8 billion in 2024 and is expected to reach USD 11.2 billion by 2034. Other estimates show the global market at USD 8.87 billion in 2024, rising to USD 13.2 billion by 2035, or USD 21.6 billion in 2026, growing to USD 45.7 billion by 2033. The North American market is projected to account for an estimated 36% of the aircraft flight control system market share in 2026.Industrial Segment
Woodward's Industrial segment provides actuators, valves, pumps, fuel injection systems, solenoids, ignition systems, speed controls, electronics and software, and sensors for industrial gas turbines, steam turbines, compressors, and reciprocating engines, along with aftermarket services. * Industrial Automation and Control Systems (IACS) Market: The global industrial automation and control systems market was valued at an estimated USD 226.76 billion in 2025 and is projected to reach USD 504.38 billion by 2033. Another source estimates the global market size at USD 228.88 billion in 2025, increasing to approximately USD 576.99 billion by 2034. The global industrial controls market was valued at USD 157.3 billion in 2024 and is projected to reach USD 321.6 billion by 2034. Asia Pacific held the largest revenue share in this market in 2025, with North America also holding a significant share. * Turbine Control Systems Market: The global turbine control system market was valued at USD 19.50 billion in 2024 and is projected to reach USD 25.17 billion by 2030. Another valuation places the global market at USD 20.61 billion in 2025, expected to grow to USD 30.55 billion by 2034. Furthermore, the global market for turbine control systems was USD 22.3 billion in 2024 and is estimated to reach USD 37.7 billion by 2034. In 2025, the Asia-Pacific region controlled 38.05% of this market. * Reciprocating Engine Market (including control systems): The global reciprocating engine market was estimated at USD 13.3 billion in 2024 and is projected to reach USD 17.95 billion by 2035. Another report values the global market at USD 64.04 billion in 2023, with a projection to reach USD 87.18 billion by 2031. North America held a significant share of approximately 32.37% of this market in 2023.AI Analysis | Feedback
Woodward, Inc. (WWD) is anticipated to drive future revenue growth over the next two to three years through several key factors:
- Sustained Recovery and Growth in Commercial Aerospace: Woodward expects continued strong performance in both commercial aerospace original equipment manufacturing (OEM) and aftermarket services. This includes robust demand across narrow-body, wide-body, and regional aircraft platforms, with the company expanding its Maintenance, Repair, and Overhaul (MRO) capacity to meet this increasing need.
- Robust Demand Across Key Industrial Markets: The Industrial segment is projected to benefit from sustained growth in several areas, notably marine transportation (driven by healthy global marine markets and alternative fuel orders), power generation (fueled by increased investment in gas-powered generation and growing demand for data centers), and oil & gas markets (related to ongoing investments in refining and petrochemical activities).
- Successful Price Realization: Woodward has been effectively implementing price increases across its product and service portfolios, which is a direct contributor to revenue growth. The company anticipates an average price realization of 7% for the current fiscal year.
- Strategic Investments and Enhanced Product Content: The company's strategic investments are increasing output and capacity to meet strong customer demand. This also includes a focus on securing greater content for critical engine platforms within the aerospace sector, such as the LEAP and GTF engines.
AI Analysis | Feedback
Share Repurchases
- Woodward completed a $600 million share repurchase program in November 2025, more than a year ahead of schedule.
- A new $1.8 billion, three-year share repurchase authorization was approved in November 2025.
- In fiscal year 2025, Woodward returned $238 million to stockholders through dividends and share repurchases.
Share Issuance
- Woodward's shares outstanding for fiscal year 2025 were 0.061 billion, marking a 1% decline from 2024.
- Shares outstanding for fiscal year 2024 were 0.062 billion, a 0.98% increase from 2023.
- In fiscal year 2023, shares outstanding were 0.061 billion, reflecting a 2.8% decline from 2022.
Outbound Investments
- Woodward completed the strategic acquisition of Safran's North American Electromechanical Actuation business in fiscal year 2025, enhancing its existing portfolio with Horizontal Stabilizer Trim Actuation technology and other complementary products.
- The company entered into an agreement to acquire Valve Research & Manufacturing (VRM), a manufacturer of high-precision flow control valves for aerospace applications, with the transaction expected to close in the first half of 2026.
Capital Expenditures
- Capital expenditures for fiscal year 2025 totaled $131 million.
- Expected capital expenditures for fiscal year 2026 are approximately $290 million.
- Approximately $130 million of the fiscal 2026 capital expenditures are allocated to building a new advanced manufacturing facility in Spartanburg, SC, to support A350 spoiler actuator production and future aerospace programs.
Peer Outperformance in Electrical Components & Equipment
WWD has outperformed 78% of its 40 Electrical Components & Equipment peers over 5Y. Electrical Components & Equipment ranks 10th of 23 industries in Industrials by median 5Y return.
Share of Electrical Components & Equipment constituents that WWD has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
71%
of 48 industry peers · 37.1% return
3Y
80%
of 45 industry peers · 166.5% return
5Y
78%
of 40 industry peers · 189.0% return
No Electrical Components & Equipment peer with a comparable growth profile has beaten WWD by more than 20pp over 5Y.
Median price return by industry across the Industrials sector, ranked by 5Y. Electrical Components & Equipment is WWD's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 7.9% | 112.9% | 194.1% | CDNL 2325% · STRL 2283% · FIX 2276% |
| Marine Transportation | 5 | 86.2% | 62.7% | 170.6% | HOS 43742% · MATX 208% · SFL 171% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 9.2% | 57.2% | 128.6% | CAT 365% · ALSN 256% · WAB 236% |
| Aerospace & Defense | 55 | -4.9% | 72.0% | 72.3% | ATI 1053% · FTAI 1029% · HWM 641% |
| Rail Transportation | 7 | 24.8% | 53.7% | 52.4% | FSTR 145% · RAIL 67% · CSX 65% |
| Trading Companies & Distributors | 19 | 4.9% | 40.0% | 50.7% | DXPE 591% · AIT 292% · WCC 224% |
| Industrial Machinery & Supplies & Components | 73 | 7.5% | 52.3% | 38.8% | CRS 1232% · PSIX 1092% · EROC 669% |
| Diversified Support Services | 33 | 13.1% | 34.6% | 37.5% | LIME 3273% · TH 441% · WLFC 363% |
| Cargo Ground Transportation | 16 | 33.1% | 0.6% | 28.9% | XPO 242% · R 240% · CVLG 163% |
| Electrical Components & Equipment ← | 41 | 5.0% | 60.4% | 25.0% | POWL 2382% · BE 1315% · VRT 950% |
| Passenger Ground Transportation | 3 | -28.1% | 53.6% | 23.4% | UBER 58% · CAR 23% · LYFT -72% |
| Building Products | 33 | -14.4% | 3.6% | 19.6% | LMB 713% · GFF 394% · PPIH 293% |
| Industrial Conglomerates | 17 | 7.3% | 6.7% | 5.4% | RCMT 522% · CSW 139% · DD 75% |
| Agricultural & Farm Machinery | 17 | 4.8% | 3.8% | -6.4% | BLBD 201% · DE 115% · GENC 56% |
| Environmental & Facilities Services | 29 | -10.5% | 18.8% | -7.5% | CECO 947% · ADUR 419% · NVRI 360% |
| Research & Consulting Services | 14 | -13.0% | -21.0% | -12.2% | HURN 213% · CRAI 82% · GRNQ 75% |
| Data Processing & Outsourced Services | 6 | -33.1% | -14.3% | -25.0% | EXLS 44% · BR 10% · G -24% |
| Passenger Airlines | 11 | 8.3% | 21.1% | -27.1% | LTM 3307% · UAL 150% · SKYW 113% |
| Office Services & Supplies | 9 | 5.6% | 12.8% | -34.3% | PBI 179% · TILE 141% · HNI 49% |
| Human Resource & Employment Services | 22 | 6.5% | -15.3% | -37.2% | BBSI 83% · ADP 52% · PAYX 23% |
| Air Freight & Logistics | 12 | -22.3% | -21.5% | -40.2% | CHRW 97% · FDX 78% · EXPD 65% |
| Security & Alarm Services | 10 | -21.9% | 31.6% | -42.5% | CIX 167% · MG 132% · BCO 70% |
| Airport Services | 3 | -74.6% | -78.2% | -62.0% | JOBY -34% · ASLE -62% · UP -100% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 322.09 |
| Mkt Cap | 145.1 |
| Rev LTM | 33,078 |
| Op Inc LTM | 5,654 |
| FCF LTM | 3,972 |
| FCF 3Y Avg | 4,236 |
| CFO LTM | 5,034 |
| CFO 3Y Avg | 5,128 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.7% |
| Rev Chg 3Y Avg | 10.4% |
| Rev Chg Q | 17.8% |
| QoQ Delta Rev Chg LTM | 4.1% |
| Op Inc Chg LTM | 16.7% |
| Op Inc Chg 3Y Avg | 18.9% |
| Op Mgn LTM | 17.1% |
| Op Mgn 3Y Avg | 17.8% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 15.8% |
| CFO/Rev 3Y Avg | 16.6% |
| FCF/Rev LTM | 12.4% |
| FCF/Rev 3Y Avg | 13.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 145.1 |
| P/S | 5.1 |
| P/Op Inc | 27.4 |
| P/EBIT | 25.3 |
| P/E | 34.5 |
| P/CFO | 30.4 |
| Total Yield | 3.5% |
| Dividend Yield | 0.9% |
| FCF Yield 3Y Avg | 3.2% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.8% |
| 3M Rtn | -5.1% |
| 6M Rtn | 3.4% |
| 12M Rtn | 21.1% |
| 3Y Rtn | 160.8% |
| 1M Excs Rtn | -6.8% |
| 3M Excs Rtn | -9.0% |
| 6M Excs Rtn | -16.1% |
| 12M Excs Rtn | 4.5% |
| 3Y Excs Rtn | 80.3% |
Comparison Analyses
FDA Approved Drugs Data
Expand for More| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| ANDA209708 | MIVACURIUM CHLORIDE | mivacurium chloride | solution | 10122021 | -0.8% | 1.3% | -26.7% | 15.3% | 193.0% |
| ANDA077909 | FLUCONAZOLE IN SODIUM CHLORIDE 0.9% IN PLASTIC CONTAINER | fluconazole | injectable | 5262010 | -4.7% | 23.3% | 25.0% | 41.8% | 1,217.6% |
| ANDA077988 | FLUCONAZOLE IN DEXTROSE 5% IN PLASTIC CONTAINER | fluconazole | injectable | 5262010 | -4.7% | 23.3% | 25.0% | 41.8% | 1,217.6% |
| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| ANDA209708 | MIVACURIUM CHLORIDE | mivacurium chloride | solution | 10122021 | -0.8% | 1.3% | -26.7% | 15.3% | 193.0% |
| ANDA077909 | FLUCONAZOLE IN SODIUM CHLORIDE 0.9% IN PLASTIC CONTAINER | fluconazole | injectable | 5262010 | -4.7% | 23.3% | 25.0% | 41.8% | 1,217.6% |
| ANDA077988 | FLUCONAZOLE IN DEXTROSE 5% IN PLASTIC CONTAINER | fluconazole | injectable | 5262010 | -4.7% | 23.3% | 25.0% | 41.8% | 1,217.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Aerospace | 2,313 | 2,029 | 1,768 | 1,519 | 1,404 |
| Industrial | 1,254 | 1,296 | 1,146 | 863 | 842 |
| Total | 3,567 | 3,324 | 2,915 | 2,383 | 2,246 |
| $ Mil | 2025 | 2024 | 2023 | 2005 | 2004 |
|---|---|---|---|---|---|
| Aerospace | 507 | 385 | 290 | ||
| Industrial | 183 | 230 | 162 | ||
| Aircraft Engine Systems | 64 | 59 | |||
| Industrial Controls | 29 | 6 | |||
| Total | 689 | 615 | 452 | 93 | 66 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Aerospace | 2,111 | 1,937 | 1,829 | 1,774 | 1,699 |
| Industrial | 1,502 | 1,509 | 1,490 | 1,380 | 1,453 |
| Other unallocated assets | 897 | 802 | 585 | 540 | 833 |
| Unallocated corporate property, plant and equipment, net | 121 | 121 | 105 | 112 | 106 |
| Total | 4,630 | 4,369 | 4,010 | 3,806 | 4,091 |
Price Behavior
Price Behavior
| Market Price | $325.16 | |
| Market Cap ($ Bil) | 19.3 | |
| First Trading Date | 05/30/1996 | |
| Distance from 52W High | -25.4% | |
| 50 Days | 200 Days | |
| DMA Price | $360.99 | $361.62 |
| DMA Trend | up | down |
| Distance from DMA | -9.9% | -10.1% |
| 3M | 1YR | |
| Volatility | 33.0% | 38.9% |
| Downside Capture | 229.54 | 132.03 |
| Upside Capture | 53.85 | 144.13 |
| Correlation (SPY) | 27.8% | 41.4% |
WWD Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.47 | 0.98 | 0.68 | 1.34 | 1.22 | 1.07 |
| Up Beta | 0.71 | -0.95 | 0.23 | 1.43 | 1.37 | 1.06 |
| Down Beta | 3.62 | 1.80 | 0.61 | 1.22 | 0.77 | 1.10 |
| Up Capture | 90% | 54% | 76% | 105% | 169% | 155% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 9 | 19 | 32 | 59 | 123 | 400 |
| Down Capture | 300% | 259% | 98% | 151% | 118% | 100% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 12 | 23 | 32 | 67 | 127 | 350 |
[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 WWD | |
|---|---|---|---|---|
| WWD | 36.2% | 38.7% | 0.87 | - |
| Sector ETF (XLI) | 12.8% | 17.2% | 0.53 | 63.7% |
| Equity (SPY) | 18.2% | 13.0% | 1.01 | 41.3% |
| Gold (GLD) | 18.8% | 29.3% | 0.59 | 28.4% |
| Commodities (DBC) | 47.0% | 20.6% | 1.76 | -20.0% |
| Real Estate (VNQ) | 5.7% | 13.6% | 0.15 | 25.0% |
| Bitcoin (BTCUSD) | -31.0% | 44.4% | -0.71 | 8.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WWD | |
|---|---|---|---|---|
| WWD | 22.2% | 32.3% | 0.67 | - |
| Sector ETF (XLI) | 12.4% | 17.6% | 0.54 | 63.6% |
| Equity (SPY) | 13.1% | 17.2% | 0.58 | 53.7% |
| Gold (GLD) | 18.9% | 18.8% | 0.81 | 16.7% |
| Commodities (DBC) | 11.0% | 19.5% | 0.44 | 8.2% |
| Real Estate (VNQ) | 1.2% | 18.8% | -0.04 | 40.3% |
| Bitcoin (BTCUSD) | 12.5% | 52.6% | 0.42 | 20.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WWD | |
|---|---|---|---|---|
| WWD | 19.1% | 35.6% | 0.59 | - |
| Sector ETF (XLI) | 13.5% | 20.0% | 0.59 | 71.6% |
| Equity (SPY) | 15.6% | 17.9% | 0.74 | 59.9% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 9.7% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | 22.7% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 52.9% |
| Bitcoin (BTCUSD) | 62.7% | 66.2% | 1.03 | 14.3% |
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Returns Analyses
Earnings Returns History
Updated 9/16/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/29/2026 | -7.6% | -3.1% | -10.1% |
| 4/29/2026 | 0.6% | 5.9% | -2.9% |
| 2/2/2026 | 13.4% | 20.0% | 17.7% |
| 11/24/2025 | 12.4% | 11.7% | 17.6% |
| 7/28/2025 | 1.4% | 0.5% | -2.3% |
| 4/28/2025 | 1.9% | 8.0% | 19.4% |
| 2/3/2025 | -1.8% | 2.8% | -2.5% |
| 11/25/2024 | 4.5% | 1.0% | -4.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 15 | 11 |
| # Negative | 13 | 9 | 13 |
| Median Positive | 4.5% | 3.9% | 7.2% |
| Median Negative | -1.9% | -5.9% | -7.4% |
| Max Positive | 15.4% | 20.0% | 21.2% |
| Max Negative | -17.2% | -16.6% | -10.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/29/2026 | -7.6% | -3.1% | -10.1% |
| 4/29/2026 | 0.6% | 5.9% | -2.9% |
| 2/2/2026 | 13.4% | 20.0% | 17.7% |
| 11/24/2025 | 12.4% | 11.7% | 17.6% |
| 7/28/2025 | 1.4% | 0.5% | -2.3% |
| 4/28/2025 | 1.9% | 8.0% | 19.4% |
| 2/3/2025 | -1.8% | 2.8% | -2.5% |
| 11/25/2024 | 4.5% | 1.0% | -4.2% |
| 7/29/2024 | -17.2% | -16.6% | -9.2% |
| 4/29/2024 | 7.5% | 14.6% | 21.2% |
| 1/29/2024 | -0.9% | -4.7% | -1.3% |
| 11/16/2023 | -1.9% | -0.2% | 1.9% |
| 7/31/2023 | 9.5% | 5.9% | 7.1% |
| 5/1/2023 | 15.4% | 10.2% | 7.1% |
| 1/30/2023 | -6.5% | -5.9% | -8.3% |
| 11/17/2022 | -0.5% | 0.7% | -7.5% |
| 8/1/2022 | -11.0% | -6.5% | -10.2% |
| 5/2/2022 | -7.0% | -10.4% | -7.4% |
| 1/31/2022 | -0.7% | 1.7% | 12.8% |
| 11/18/2021 | -0.2% | -5.6% | -10.2% |
| 8/2/2021 | -7.2% | -8.3% | -0.6% |
| 5/3/2021 | 2.0% | 2.8% | 1.9% |
| 2/1/2021 | 2.5% | 1.3% | 1.2% |
| 11/19/2020 | -1.3% | 3.9% | 7.2% |
| SUMMARY STATS | |||
| # Positive | 11 | 15 | 11 |
| # Negative | 13 | 9 | 13 |
| Median Positive | 4.5% | 3.9% | 7.2% |
| Median Negative | -1.9% | -5.9% | -7.4% |
| Max Positive | 15.4% | 20.0% | 21.2% |
| Max Negative | -17.2% | -16.6% | -10.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/04/2026 | 10-Q |
| 09/30/2025 | 11/25/2025 | 10-K |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/04/2025 | 10-Q |
| 09/30/2024 | 11/26/2024 | 10-K |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/02/2024 | 10-Q |
| 09/30/2023 | 11/17/2023 | 10-K |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/03/2023 | 10-Q |
| 09/30/2022 | 11/18/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/04/2026 | 10-Q |
| 09/30/2025 | 11/25/2025 | 10-K |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/04/2025 | 10-Q |
| 09/30/2024 | 11/26/2024 | 10-K |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/02/2024 | 10-Q |
| 09/30/2023 | 11/17/2023 | 10-K |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/03/2023 | 10-Q |
| 09/30/2022 | 11/18/2022 | 10-K |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/04/2022 | 10-Q |
| 09/30/2021 | 11/19/2021 | 10-K |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/04/2021 | 10-Q |
| 12/31/2020 | 02/04/2021 | 10-Q |
| 09/30/2020 | 11/20/2020 | 10-K |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 02/10/2020 | 10-Q |
| 09/30/2019 | 11/25/2019 | 10-K |
Recent Forward Guidance
Updated 9/15/2026Latest: Q3 2026 Earnings Reported 7/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Shares | Reported | 61.50 Mil | 0 | Affirmed | Guidance: 61.50 Mil for 2026 | |||
| 2026 Aerospace Sales Growth | Reported | 21.0% | 22.0% | 23.0% | -0.5% | Lowered | Guidance: 22.5% for 2026 | |
| 2026 Aerospace Segment Earnings (% of sales) | Reported | 23.5% | 0.2% | Raised | Guidance: 23.25% for 2026 | |||
| 2026 Industrial Sales Growth | Reported | 19.0% | 20.0% | 21.0% | 1.0% | Raised | Guidance: 19.0% for 2026 | |
| 2026 Industrial Segment Earnings (% of sales) | Reported | 19.0% | 0.8% | Raised | Guidance: 18.25% for 2026 | |||
| 2026 Adjusted Effective Tax Rate | Reported | 22.5% | 0.5% | Raised | Guidance: 22.0% for 2026 | |||
| 2026 Adjusted EPS | Reported | 9.3 | 9.4 | 9.5 | 1.1% | Raised | Guidance: 9.3 for 2026 | |
| 2026 Capital Expenditures | Reported | 290.00 Mil | 0 | Affirmed | Guidance: 290.00 Mil for 2026 | |||
| 2026 Free Cash Flow | Reported | 300.00 Mil | 325.00 Mil | 350.00 Mil | 0 | Affirmed | Guidance: 325.00 Mil for 2026 | |
Prior: Q2 2026 Earnings Reported 4/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Shares | Reported | 61.50 Mil | ||||||
| 2026 Sales growth | Reported | 20.0% | 21.5% | 23.0% | 5.5% | Raised | Guidance: 16.0% for 2026 | |
| 2026 Aerospace Sales Growth | Reported | 21.0% | 22.5% | 24.0% | 5.0% | Raised | Guidance: 17.5% for 2026 | |
| 2026 Aerospace Segment Earnings (% of Sales) | Reported | 23.0% | 23.25% | 23.5% | ||||
| 2026 Industrial Sales Growth | Reported | 18.0% | 19.0% | 20.0% | 6.5% | Raised | Guidance: 12.5% for 2026 | |
| 2026 Industrial Segment Earnings (% of Sales) | Reported | 18.0% | 18.25% | 18.5% | 1.8% | Raised | Guidance: 16.5% for 2026 | |
| 2026 Adjusted effective tax rate | Reported | 22.0% | ||||||
| 2026 Adjusted EPS | Reported | 9.15 | 9.3 | 9.45 | 10.7% | Raised | Guidance: 8.4 for 2026 | |
| 2026 Capital expenditures | Reported | 290.00 Mil | 0 | Affirmed | Guidance: 290.00 Mil for 2026 | |||
| 2026 Free cash flow | Reported | 300.00 Mil | 325.00 Mil | 350.00 Mil | 0 | Affirmed | Guidance: 325.00 Mil for 2026 | |
Q1 2026 Earnings Reported 2/2/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Sales growth | Reported | 14.0% | 16.0% | 18.0% | 6.5% | Raised | Guidance: 9.5% for 2026 | |
| 2026 Aerospace Sales growth | Reported | 15.0% | 17.5% | 20.0% | 5.5% | Raised | Guidance: 12.0% for 2026 | |
| 2026 Industrial Sales growth | Reported | 11.0% | 12.5% | 14.0% | 5.5% | Raised | Guidance: 7.0% for 2026 | |
| 2026 Industrial Segment earnings (% of sales) | Reported | 16.0% | 16.5% | 17.0% | 1.5% | Raised | Guidance: 15.0% for 2026 | |
| 2026 EPS | Reported | 8.2 | 8.4 | 8.6 | 8.4% | Raised | Guidance: 7.75 for 2026 | |
| 2026 Capital expenditures | Reported | 290.00 Mil | 0 | Affirmed | Guidance: 290.00 Mil for 2026 | |||
| 2026 Free cash flow | Reported | 300.00 Mil | 325.00 Mil | 350.00 Mil | 0 | Affirmed | Guidance: 325.00 Mil for 2026 | |
Q4 2025 Earnings Reported 11/24/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Shares | Reported | 61.00 Mil | ||||||
| 2026 Sales Growth | Reported | 7.0% | 9.5% | 12.0% | ||||
| 2026 Aerospace Sales Growth | Reported | 9.0% | 12.0% | 15.0% | 0.0% | Same New | Actual: 12.0% for 2025 | |
| 2026 Aerospace Segment Earnings (% of Sales) | Reported | 22.0% | 22.5% | 23.0% | 1.2% | Higher New | Actual: 21.25% for 2025 | |
| 2026 Industrial Sales Growth | Reported | 5.0% | 7.0% | 9.0% | 13.0% | Higher New | Actual: -6.0% for 2025 | |
| 2026 Industrial Segment Earnings (% of Sales) | Reported | 14.5% | 15.0% | 15.5% | 0.5% | Higher New | Actual: 14.5% for 2025 | |
| 2026 Effective Tax Rate | Reported | 22.0% | ||||||
| 2026 EPS | Reported | 7.5 | 7.75 | 8 | ||||
| 2026 Capital Expenditures | Reported | 290.00 Mil | ||||||
| 2026 Free Cash Flow | Reported | 300.00 Mil | 325.00 Mil | 350.00 Mil | ||||
Insider Activity
Updated 8/25/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McLevige, Shawn M | EVP and President, Aerospace | Direct | Sell | 8032026 | 356.82 | 2,150 | 767,163 | 1,105,428 | Form |
| 2 | Korte, Daniel G | Direct | Sell | 6082026 | 356.05 | 14,700 | 5,233,910 | 1,578,718 | Form | |
| 3 | Bem, Karrie M | EVP, Gen Counsel & Corp Sec | Direct | Sell | 5222026 | 355.00 | 185 | 65,675 | 1,295,040 | Form |
| 4 | Bem, Karrie M | EVP, Gen Counsel & Corp Sec | Direct | Sell | 5182026 | 361.44 | 279 | 100,842 | 1,452,266 | Form |
| 5 | Bem, Karrie M | EVP, Gen Counsel & Corp Sec | Direct | Sell | 5182026 | 372.66 | 280 | 104,345 | 1,601,320 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McLevige, Shawn M | EVP and President, Aerospace | Direct | Sell | 8032026 | 356.82 | 2,150 | 767,163 | 1,105,428 | Form |
| 2 | Korte, Daniel G | Direct | Sell | 6082026 | 356.05 | 14,700 | 5,233,910 | 1,578,718 | Form | |
| 3 | Bem, Karrie M | EVP, Gen Counsel & Corp Sec | Direct | Sell | 5222026 | 355.00 | 185 | 65,675 | 1,295,040 | Form |
| 4 | Bem, Karrie M | EVP, Gen Counsel & Corp Sec | Direct | Sell | 5182026 | 361.44 | 279 | 100,842 | 1,452,266 | Form |
| 5 | Bem, Karrie M | EVP, Gen Counsel & Corp Sec | Direct | Sell | 5182026 | 372.66 | 280 | 104,345 | 1,601,320 | Form |
| 6 | Blankenship, Charles P | Chairman of the Board and CEO | Direct | Sell | 3112026 | 384.80 | 2,625 | 1,010,108 | 25,340,818 | Form |
| 7 | Blankenship, Charles P | Chairman of the Board and CEO | Direct | Sell | 3112026 | 367.40 | 5,000 | 1,836,986 | 24,194,572 | Form |
| 8 | Blankenship, Charles P | Chairman of the Board and CEO | Direct | Sell | 3092026 | 374.84 | 5,000 | 1,874,202 | 24,684,738 | Form |
| 9 | Blankenship, Charles P | Chairman of the Board and CEO | Direct | Sell | 3092026 | 384.75 | 5,000 | 1,923,739 | 25,327,557 | Form |
| 10 | Blankenship, Charles P | Chairman of the Board and CEO | Direct | Sell | 3052026 | 384.45 | 5,000 | 1,922,250 | 25,307,963 | Form |
| 11 | Blankenship, Charles P | Chairman of the Board and CEO | Direct | Sell | 3052026 | 384.64 | 5,000 | 1,923,216 | 25,320,679 | Form |
| 12 | McLevige, Shawn M | EVP and President, Aerospace | Direct | Sell | 3052026 | 384.37 | 1,850 | 711,089 | 1,189,632 | Form |
| 13 | Paterson, Eileen P | Direct | Sell | 2092026 | 378.15 | 5,200 | 1,966,380 | 959,745 | Form | |
| 14 | Cohn, John D | Direct | Sell | 2052026 | 369.62 | 2,250 | 831,645 | 7,974,552 | Form | |
| 15 | Cromwell, Thomas G | EVP and COO | Direct | Sell | 12162025 | 297.88 | 5,000 | 1,489,400 | 4,508,414 | Form |
| 16 | Cromwell, Thomas G | EVP and COO | Direct | Sell | 12102025 | 287.15 | 5,000 | 1,435,750 | 4,346,015 | Form |
| 17 | Cromwell, Thomas G | EVP and COO | Direct | Sell | 12102025 | 303.61 | 5,000 | 1,518,050 | 4,595,137 | Form |
| 18 | Sengstack, Gregg C | Direct | Sell | 12052025 | 300.76 | 7,000 | 2,105,302 | 2,890,279 | Form | |
| 19 | Cromwell, Thomas G | EVP and COO | Direct | Sell | 12052025 | 298.49 | 5,000 | 1,492,450 | 4,517,646 | Form |
| 20 | Cromwell, Thomas G | EVP and COO | Direct | Sell | 12022025 | 299.39 | 5,000 | 1,496,950 | 4,531,268 | Form |
| 21 | Cromwell, Thomas G | EVP and COO | Direct | Sell | 12022025 | 296.26 | 5,000 | 1,481,300 | 4,483,895 | Form |
| 22 | Cohn, John D | Direct | Sell | 12012025 | 296.33 | 3,000 | 888,990 | 6,393,320 | Form | |
| 23 | Cohn, John D | Direct | Sell | 9102025 | 244.32 | 1,750 | 427,551 | 5,121,577 | Form | |
| 24 | Paterson, Eileen P | Direct | Sell | 8042025 | 261.37 | 9,500 | 2,482,970 | 503,912 | Form |
Investor Activity (13F)
Updated Sep 22, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Naya Capital Management UK LTD | $242.5 Mil | 20.5% | 4 | TRIM -31.1% | 13F |
| Untitled Investments LP | $18.5 Mil | 6.9% | 16 | TRIM -19.1% | 13F |
| Night Owl Capital Management, LLC | $44.8 Mil | 5.2% | 30 | Hold | 13F |
| Forest Avenue Capital Management LP | $79.5 Mil | 5.0% | 25 | TRIM -35.6% | 13F |
| Bayberry Capital Partners LP | $14.4 Mil | 4.7% | 28 | TRIM -28.4% | 13F |
| Hawk Ridge Capital Management LP | $122.5 Mil | 4.5% | 48 | TRIM -16.9% | 13F |
| Alpha Wave Global, LP | $34.6 Mil | 4.4% | 20 | TRIM -19.3% | 13F |
| One Madison Group LLC | $35.9 Mil | 4.1% | 28 | TRIM -14.2% | 13F |
| Hudson Way Capital Management LLC | $43.3 Mil | 4.1% | 16 | New | 13F |
| Kinetic Partners Management, LP | $62.5 Mil | 3.5% | 49 | TRIM -33.7% | 13F |
| Rivermont Capital Management LP | $13.9 Mil | 2.9% | 20 | TRIM -49.6% | 13F |
| Skye Global Management LP | $14.3 Mil | 0.3% | 44 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Anomaly Capital Management, LP | $28.5 Mil | 1.0% | 32 | Exited | Dec 31, 2025 | 13F |
| Rivermont Capital Management LP | $13.9 Mil | 2.9% | 20 | TRIM -49.6% | Mar 31, 2026 | 13F |
| Forest Avenue Capital Management LP | $79.5 Mil | 5.0% | 25 | TRIM -35.6% | Mar 31, 2026 | 13F |
| Kinetic Partners Management, LP | $62.5 Mil | 3.5% | 49 | TRIM -33.7% | Mar 31, 2026 | 13F |
| Naya Capital Management UK LTD | $242.5 Mil | 20.5% | 4 | TRIM -31.1% | Mar 31, 2026 | 13F |
| Bayberry Capital Partners LP | $14.4 Mil | 4.7% | 28 | TRIM -28.4% | Mar 31, 2026 | 13F |
| Alpha Wave Global, LP | $34.6 Mil | 4.4% | 20 | TRIM -19.3% | Mar 31, 2026 | 13F |
| Untitled Investments LP | $18.5 Mil | 6.9% | 16 | TRIM -19.1% | Mar 31, 2026 | 13F |
| Hawk Ridge Capital Management LP | $122.5 Mil | 4.5% | 48 | TRIM -16.9% | Mar 31, 2026 | 13F |
| One Madison Group LLC | $35.9 Mil | 4.1% | 28 | TRIM -14.2% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Naya Capital Management UK LTD | $242.5 Mil | 20.5% | 4 | TRIM -31.1% | 13F |
| Hawk Ridge Capital Management LP | $122.5 Mil | 4.5% | 48 | TRIM -16.9% | 13F |
| Forest Avenue Capital Management LP | $79.5 Mil | 5.0% | 25 | TRIM -35.6% | 13F |
| Kinetic Partners Management, LP | $62.5 Mil | 3.5% | 49 | TRIM -33.7% | 13F |
| Night Owl Capital Management, LLC | $44.8 Mil | 5.2% | 30 | Hold | 13F |
| Hudson Way Capital Management LLC | $43.3 Mil | 4.1% | 16 | New | 13F |
| One Madison Group LLC | $35.9 Mil | 4.1% | 28 | TRIM -14.2% | 13F |
| Alpha Wave Global, LP | $34.6 Mil | 4.4% | 20 | TRIM -19.3% | 13F |
| Untitled Investments LP | $18.5 Mil | 6.9% | 16 | TRIM -19.1% | 13F |
| Bayberry Capital Partners LP | $14.4 Mil | 4.7% | 28 | TRIM -28.4% | 13F |
| Skye Global Management LP | $14.3 Mil | 0.3% | 44 | New | 13F |
| Rivermont Capital Management LP | $13.9 Mil | 2.9% | 20 | TRIM -49.6% | 13F |
WWD Trade Sentinel
Stock Conviction
Constructive
CONVICTION RATIONALE
Woodward's investment case presents a clear tension. The core Aerospace segment is seeing its growth rate slow, a valid concern. However, this is counteracted by accelerating 25.5% growth in the Industrial segment, a strong backlog providing visibility, and management's confidence demonstrated by a raised full-year adjusted EPS forecast to between $9.30 and $9.50.
STOCK ARCHETYPE
Cyclical OEM with Recurring Aftermarket(OEM Production Rates * WWD Content per Platform) + (Installed Base * Utilization Rate * MRO Event Rate) The high-margin aftermarket services business, which grows as the installed base of new equipment sold to OEMs expands and ages.
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INVESTMENT THESIS
Evidence suggests a durable growth cycle, with a massive backlog and accelerating industrial demand offsetting aerospace moderation.
Mechanism:
Industrial segment sales growth accelerated to 25.5%, complementing 18.9% Aerospace growth. Strong pricing is expanding operating margins to a 16% five-year peak, driving EPS guidance up to a $9.40 midpoint.
Supporting Evidence:
- Industrial segment sales growth accelerated to 25.5% year-over-year.
- Management raised full-year adjusted EPS guidance to between $9.30 and $9.50.
- Trailing-twelve-month operating margin expanded 3.6 percentage points to 16%.
PRIMARY RISK
The primary growth engine is slowing. Aerospace year-over-year sales growth decelerated to 18.9% from 29% two quarters prior, and management lowered the segment's full-year sales growth guidance.
Mechanism:
Supporting Evidence:
- Aerospace sales growth slowed to 18.9% in the latest quarter.
- The prior quarter's Aerospace sales growth was 25%.
- Full-year 2026 Aerospace sales growth guidance was lowered in July 2026.
- An analyst on the last call questioned why commercial aftermarket revenue was down sequentially.
Key KPI Watchlist
| KPI | Status | Rationale |
|---|---|---|
| Aerospace Segment Sales Growth | 18.9% year-over-year growth for the quarter ended 6/30/2026. - Decelerating | While growth remains strong in absolute terms, the clear trend is one of deceleration in its year-over-year growth rate. Management commentary attributes the growth to both higher sales volumes and price realization. |
| Industrial Segment Sales Growth | 25.5% year-over-year growth for the quarter ended 6/30/2026. - Accelerating | The Industrial segment is demonstrating robust and accelerating growth, driven by higher volumes and price realization across its power generation, transportation, and oil and gas markets. Management noted strong marine transportation sales and higher data center demand for power generation. |
| Remaining Performance Obligations (Backlog) | $4,117,859 (as of 6/30/2026) | This metric represents the total value of firm orders for which performance has not yet been recognized as revenue, providing visibility into future sales. |
| Inventory vs. Revenue Growth Divergence | -10.9 percentage points (Q3 FY2026) | A negative divergence indicates that inventory is growing slower than revenue, which signals efficient working capital management and strong demand absorption. |
| Trailing-Twelve-Month Revenue Growth | 22.3% (as of 6/30/2026) | This indicates the year-over-year growth rate of the company's revenue over the last four quarters, reflecting overall business momentum. |
Core Investment Debate
Aerospace Deceleration vs. Industrial Acceleration
BULL VIEW
Aerospace growth is normalizing, not collapsing. The backlog and accelerating Industrial segment, driven by data center and marine demand, will carry overall growth and profitability.
CORE TENSION
PREVAILING SENTIMENT
CAUTIOUSLY BULLISH
The latest evidence favors the bull case. The significant backlog growth and raised full-year EPS guidance provide a tangible buffer against the aerospace growth moderation.
BEAR VIEW
The slowdown in the higher-margin Aerospace segment is the start of a cyclical downturn. Strength in the Industrial segment is not enough to offset this, and the recent -13% stock reaction is justified.
Next 6 months: Risks and Catalysts
| Timeline | Event & Metric To Watch |
|---|---|
10/19/2026 | Aerospace Market Slowdown Watch: Peer reports from RTX and GE for aerospace market read-throughs ahead of Woodward's own earnings. |
10/21/2026 | Peer Honeywell Earnings Report Watch: Peer Honeywell International is scheduled to report earnings, providing a cross-sector industrial and aerospace outlook. |
11/2/2026 | Industrial Market Deceleration Watch: Commentary on power generation, data center, and marine demand from industrial peers. |
11/4/2026 | Peer Parker Hannifin Earnings Watch: Peer Parker Hannifin is scheduled to report earnings, providing a broad industrial and aerospace market update. |
11/23/2026 | Negative Earnings Surprise Watch: Updated full-year guidance, particularly for Aerospace sales, and commentary on margins and supply chain. |
March 4, 2027 | Company Investor Day Watch: The company will hold an Investor Day in New York City to provide a strategic update. |
April 23, 2027 | Union Contract Expiration Watch: The collective bargaining agreement with the Local Lodge 727-N International Association of Machinists and Aerospace Workers expires. |
No set date | Labor Disruption Watch: News regarding the NLRB election date or outcome, or any reports of work stoppages. |
Key Events in Last 6 Months
| Date | Event | Stock Impact |
|---|---|---|
2026-08-12 | Post-Earnings Analyst Note Details: An analyst note following the Q3 report reiterated a Buy rating, citing robust commercial aerospace and industrial power generation growth, with a price target of $457. | +0.5% $356.26 -> $358.22 |
2026-07-29 | Q3 Earnings and Guidance Update Details: Reported Q3 sales growth of 21.2% and raised 2026 Adjusted EPS guidance. However, guidance for 2026 Aerospace Sales Growth was lowered, contributing to a -13.0% stock reaction. | -13.2% $410.19 -> $355.96 |
2026-07-21 | New Service Agreement and Capacity Details: Woodward established an Elite Licensed Repair Service Facility agreement with HAECO for LEAP engines and inaugurated an expanded production facility in Glatten, Germany, increasing capacity by 50 percent. | +3.5% $390.40 -> $404.23 |
2026-06-25 | Quarterly Dividend Declared Details: The Board of Directors declared a cash dividend of $0.32 per share for the quarter, payable on September 3, 2026. | -0.3% $432.42 -> $431.24 |
2026-04-22 | Lufthansa Technik Partnership Announced Details: The company announced an Elite Licensed Repair Service Facility Agreement with Lufthansa Technik to support Woodward components on CFM International LEAP-1A and LEAP-1B engines. | -3.4% $379.60 -> $366.86 |
2026-03-10 | Analyst Consensus Rating Reported Details: Press reports in March indicated a consensus rating of "Moderate Buy" from fourteen analysts, with nine buy recommendations, four holds, and one strong buy. | +0.4% $383.87 -> $385.22 |
Risk Management
Position Sizing
4% - 6%
NORMAL POSITION
Sizing is volatility-based: WWD trades at roughly 33% annualized options-implied volatility versus about 13% for the S&P 500 (2.5x the market), around the 31st percentile of its own trailing year. A 4% - 6% position keeps a single-name swing of that size within a diversified portfolio's risk budget.
Diversification Alternatives
PH - Parker Hannifin
Scale and Margin LeaderParker Hannifin is 5.1 times larger by revenue and operates at significantly higher margins, with a 21.6% operating margin versus Woodward's 16%, offering greater scale and profitability.
Core Thesis: Invest in a diversified industrial leader with superior margins and a broader global footprint.
RTX - RTX Corporation
Aerospace & Defense BehemothAs a key customer and competitor, RTX offers exposure to the aerospace and defense markets at a much larger scale, with revenue 22.3 times that of Woodward.
Core Thesis: Gain broad exposure to the aerospace and defense super-cycle through a market-defining incumbent.
How Is The Market Pricing WWD?
A high-barrier-to-entry supplier of critical control systems benefiting from durable growth cycles in commercial aerospace and industrial power generation.
Its business model combines long-cycle OEM sales, which build a large installed base, with a highly profitable and growing aftermarket services business. The company is currently capitalizing on strong commercial aerospace recovery and secular demand for power, which is driving strong growth and margin expansion.
What will confirm the thesis
Continued increases in aircraft production rates from Boeing and Airbus, sustained high flight hours driving MRO demand, and announcements of new data center or LNG projects by industrial customers.
What will damage the thesis
A sharp downturn in air travel leading to fleet groundings, significant production cuts by a major OEM customer, or a slowdown in industrial capital expenditures.
Noise: Real but irrelevant to thesis
Short-term, quarter-to-quarter fluctuations in spare parts orders or minor supply chain disruptions that do not alter the fundamental demand trajectory.
Repricing Catalyst
The company raised its full-year earnings guidance following strong third-quarter results, signaling continued momentum and confidence in near-term performance, as reported in late July 2026.
What WWD Makes & Who Pays
TTM figures based on the twelve months through fiscal Q2 2026
Aerospace
$2.6B TTM (65% of Total) · 30% MarginWhat It Is
The segment sells systems and products for fuel, air, combustion, and motion control to OEMs, tier-one suppliers, and prime contractors for commercial, business, and military aircraft, rotorcraft, and weapons systems. It also provides MRO services to airlines, military depots, and repair facilities.
Who Pays & How
OEMs such as GE Aerospace, Boeing, and RTX, along with airlines and military organizations, pay for critical systems that optimize aircraft performance and efficiency. They choose Woodward for its differentiated technology, product reliability, and ability to partner on developing integrated systems.
Revenue is generated from sales of components and systems to OEMs and through services sales for maintenance, repair, and overhaul.
Competition
Divisions of Eaton, Honeywell, Moog, Parker Hannifin, and RTX Corporation.
Some competitors are larger, more diversified companies with greater financial resources, and some OEM customers have in-house capabilities.
The company's moat is built on its differentiated technology, product performance, and high barriers to entry, including significant government-mandated product certification requirements to meet safety regulations.
Industrial
$1.4B TTM (35% of Total) · 23% MarginWhat It Is
The segment sells systems and products for energy management (fuel, air, fluids, motion, combustion, electricity) to OEMs of industrial gas and steam turbines, reciprocating engines, and compressors. These are used in power generation, oil & gas, and transportation (marine, locomotive).
Who Pays & How
OEMs such as Rolls-Royce PLC, Caterpillar Inc., and GE Vernova pay for advanced control systems that help them meet emissions regulations, improve fuel efficiency, and lower the total cost of ownership for their equipment.
Revenue is generated primarily by sales to OEMs for new production and related services, as well as through a network of distributors and directly to end-users.
Competition
Competitors include Emerson, EControls, Heinzmann GmbH & Co., Hoerbiger, Meggitt, Robert Bosch AG, and Triconix. Some OEM customers also have internal capabilities.
Competitors specialize in various engine, turbine, and power management products.
The company believes it is a market leader in providing advanced technology and superior product performance. Its competitive success is based on developing innovative systems aligned with OEM technology roadmaps and maintaining close relationships with their engineering teams.
WWD Evolution: Price Return by Era
2021-2022 · Post-Pandemic Recovery
-18%
In the years following the pandemic, Woodward's revenue began to recover, with the Aerospace segment growing modestly from $1,404 million while the Industrial segment remained relatively flat.
2023-2025 · Aerospace-Led Acceleration
+214%
This was fueled by the robust recovery in commercial aviation, while the Industrial segment also contributed with steady growth.
Market Appears To Be Acting Against Core Thesis
Price structure is in a downtrend. Multiple SMA levels broken and declining. Thesis requires reclaiming 200D before any bull case is credible. Relative to SPY: Lagging the market on the 63D window, but 'relative strength' is beginning to stabilize; watch for inflection. Volume and momentum are deeply bearish. The sustained distribution is evident across multiple volume metrics. Earnings history is a strong counter-signal. The market has consistently rejected the narrative. This is not noise, but institutional disagreement.
① Structure
-4
Structural pillar score (-4 to +4). Driven by trend regime, SMA cross events, proximity to 52W high, and relative strength vs SPY.
② Volume / Momentum
-4
Volume/Momentum pillar score (-4 to +4). Driven by institutional footprint score, OBV divergence, and momentum character.
③ Catalyst
-3
Catalyst pillar score (-4 to +4). Driven by earnings day reaction, 20D post-earnings drift, and post-earnings volume character.
Combined Score
-11 / 12
1
Price Structure & Trend
Downtrend · Death Cross
▾
2
Momentum
Deteriorating
▾
3
Relative Strength vs. SPY
Strong Underperformance
▾
4
Institutional Footprint & Volume
Mild Distribution
▾
5
Volatility
Normal
▾
6
Key Price Levels
Range · Vol Rising
▾
7
Earnings Reaction History
Inconsistent
▾
8
How the Verdict Is Derived
Three Pillars
▾
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Electrical Components & Equipment Resources |
| EC&M (Electrical Construction & Maintenance) |
| Electrical Contracting News (ECN) |
| EE Times |
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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Core Cache Last Updated: 9/21/2026