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Woodward

Nasdaq:WWD
Snowflake Description

Mediocre balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WWD
Nasdaq
$7B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Woodward, Inc. designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The last earnings update was 41 days ago. More info.


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WWD Share Price and Events
7 Day Returns
-1.7%
NasdaqGS:WWD
-0.7%
US Machinery
0.1%
US Market
1 Year Returns
44%
NasdaqGS:WWD
-1.6%
US Machinery
1.2%
US Market
WWD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Woodward (WWD) -1.7% 3.3% 16.9% 44% 91.8% 127.3%
US Machinery -0.7% 1.7% -1.2% -1.6% 40.5% 20.6%
US Market 0.1% 0.6% 0.9% 1.2% 36.7% 37.9%
1 Year Return vs Industry and Market
  • WWD outperformed the Machinery industry which returned -1.6% over the past year.
  • WWD outperformed the Market in United States of America which returned 1.2% over the past year.
Price Volatility
WWD
Industry
5yr Volatility vs Market

Value

 Is Woodward undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Woodward to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Woodward.

NasdaqGS:WWD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:WWD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.061 (1 + (1- 21%) (16.66%))
1.135
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.135 * 5.96%)
9.49%

Discounted Cash Flow Calculation for NasdaqGS:WWD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Woodward is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:WWD DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.49%)
2019 310.67 Analyst x6 283.73
2020 383.23 Analyst x6 319.66
2021 446.27 Analyst x3 339.97
2022 497.44 Est @ 11.47% 346.09
2023 541.44 Est @ 8.85% 344.04
2024 579.40 Est @ 7.01% 336.24
2025 612.58 Est @ 5.73% 324.68
2026 642.15 Est @ 4.83% 310.84
2027 669.11 Est @ 4.2% 295.81
2028 694.26 Est @ 3.76% 280.32
Present value of next 10 years cash flows $3,181.38
NasdaqGS:WWD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $694.26 × (1 + 2.73%) ÷ (9.49% – 2.73%)
$10,545.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $10,545.38 ÷ (1 + 9.49%)10
$4,257.84
NasdaqGS:WWD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,181.38 + $4,257.84
$7,439.23
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $7,439.23 / 62.12
$119.76
NasdaqGS:WWD Discount to Share Price
Calculation Result
Value per share (USD) From above. $119.76
Current discount Discount to share price of $112.11
= -1 x ($112.11 - $119.76) / $119.76
6.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Woodward is available for.
Intrinsic value
6%
Share price is $112.11 vs Future cash flow value of $119.76
Current Discount Checks
For Woodward to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Woodward's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Woodward's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Woodward's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Woodward's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:WWD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $4.05
NasdaqGS:WWD Share Price ** NasdaqGS (2019-06-18) in USD $112.11
United States of America Machinery Industry PE Ratio Median Figure of 99 Publicly-Listed Machinery Companies 20.15x
United States of America Market PE Ratio Median Figure of 3,092 Publicly-Listed Companies 17.63x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Woodward.

NasdaqGS:WWD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:WWD Share Price ÷ EPS (both in USD)

= 112.11 ÷ 4.05

27.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Woodward is overvalued based on earnings compared to the US Machinery industry average.
  • Woodward is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Woodward's expected growth come at a high price?
Raw Data
NasdaqGS:WWD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
19%per year
United States of America Machinery Industry PEG Ratio Median Figure of 80 Publicly-Listed Machinery Companies 1.44x
United States of America Market PEG Ratio Median Figure of 2,126 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

NasdaqGS:WWD PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.69x ÷ 19%

1.46x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Woodward is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Woodward's assets?
Raw Data
NasdaqGS:WWD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $27.31
NasdaqGS:WWD Share Price * NasdaqGS (2019-06-18) in USD $112.11
United States of America Machinery Industry PB Ratio Median Figure of 127 Publicly-Listed Machinery Companies 2.22x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 1.79x
NasdaqGS:WWD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:WWD Share Price ÷ Book Value per Share (both in USD)

= 112.11 ÷ 27.31

4.11x

* Primary Listing of Woodward.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Woodward is overvalued based on assets compared to the US Machinery industry average.
X
Value checks
We assess Woodward's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. Woodward has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Woodward expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Woodward expected to grow at an attractive rate?
  • Woodward's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Woodward's earnings growth is expected to exceed the United States of America market average.
  • Woodward's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:WWD Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:WWD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 19%
NasdaqGS:WWD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 6.5%
United States of America Machinery Industry Earnings Growth Rate Market Cap Weighted Average 10.2%
United States of America Machinery Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:WWD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:WWD Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-09-30 3,240 560 405 3
2020-09-30 3,058 483 355 8
2019-09-30 2,868 419 287 8
NasdaqGS:WWD Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 2,719 384 250
2018-12-31 2,509 387 211
2018-09-30 2,326 299 180
2018-06-30 2,213 286 168
2018-03-31 2,174 234 173
2017-12-31 2,126 253 172
2017-09-30 2,099 308 201
2017-06-30 2,083 257 201
2017-03-31 2,042 204 199
2016-12-31 2,021 450 202
2016-09-30 2,023 435 181
2016-06-30 1,995 487 168

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Woodward's earnings are expected to grow by 19% yearly, however this is not considered high growth (20% yearly).
  • Woodward's revenue is expected to grow by 6.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:WWD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Woodward Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:WWD Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-09-30 6.42 6.75 6.25 3.00
2020-09-30 5.48 6.00 4.91 6.00
2019-09-30 4.57 5.00 4.21 6.00
NasdaqGS:WWD Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 4.05
2018-12-31 3.43
2018-09-30 2.93
2018-06-30 2.74
2018-03-31 2.82
2017-12-31 2.81
2017-09-30 3.27
2017-06-30 3.28
2017-03-31 3.24
2016-12-31 3.28
2016-09-30 2.92
2016-06-30 2.69

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Woodward is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Woodward's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Woodward has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Woodward performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Woodward's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Woodward's year on year earnings growth rate has been positive over the past 5 years.
  • Woodward's 1-year earnings growth exceeds its 5-year average (45% vs 4.6%)
  • Woodward's earnings growth has exceeded the US Machinery industry average in the past year (45% vs 28.5%).
Earnings and Revenue History
Woodward's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Woodward Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:WWD Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,719.13 250.33 200.80 159.02
2018-12-31 2,508.54 211.24 185.49 152.36
2018-09-30 2,325.87 180.38 179.87 148.28
2018-06-30 2,213.30 168.09 174.05 146.36
2018-03-31 2,173.81 172.60 174.76 141.55
2017-12-31 2,125.94 172.22 183.77 134.77
2017-09-30 2,098.69 200.51 176.63 126.52
2017-06-30 2,082.82 201.43 190.52 124.47
2017-03-31 2,041.86 198.85 182.37 119.74
2016-12-31 2,020.86 201.57 171.54 121.11
2016-09-30 2,023.08 180.84 172.32 125.07
2016-06-30 1,994.78 167.75 151.72 128.76
2016-03-31 1,981.93 160.46 154.61 132.39
2015-12-31 1,995.77 163.49 156.23 130.95
2015-09-30 2,038.30 181.45 177.12 134.49
2015-06-30 2,041.13 183.05 159.86 135.70
2015-03-31 2,070.60 185.30 161.02 137.13
2014-12-31 2,059.84 186.25 157.85 142.61
2014-09-30 2,001.24 165.84 155.34 138.01
2014-06-30 1,994.16 166.65 168.28 130.96
2014-03-31 1,953.63 144.31 166.85 131.46
2013-12-31 1,956.68 141.96 168.77 129.66
2013-09-30 1,935.98 145.94 158.75 130.25
2013-06-30 1,906.31 139.60 156.48 135.58
2013-03-31 1,882.79 144.24 157.07 139.05
2012-12-31 1,866.07 140.54 160.65 142.50
2012-09-30 1,865.63 141.59 164.51 143.27
2012-06-30 1,826.22 137.16 155.91 142.77

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Woodward has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Woodward used its assets less efficiently than the US Machinery industry average last year based on Return on Assets.
  • Woodward's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Woodward's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Woodward has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Woodward's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Woodward's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Woodward is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Woodward's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Woodward's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Woodward Company Filings, last reported 2 months ago.

NasdaqGS:WWD Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,692.85 1,160.47 65.30
2018-12-31 1,630.87 1,189.31 71.63
2018-09-30 1,538.10 1,269.03 79.96
2018-06-30 1,466.04 1,378.92 108.11
2018-03-31 1,456.91 630.39 100.15
2017-12-31 1,400.55 649.64 85.78
2017-09-30 1,371.38 612.89 87.55
2017-06-30 1,308.02 691.08 89.00
2017-03-31 1,254.79 696.35 78.95
2016-12-31 1,222.37 719.88 80.89
2016-09-30 1,212.60 727.15 81.09
2016-06-30 1,158.52 785.00 118.12
2016-03-31 1,118.96 717.00 84.75
2015-12-31 1,143.01 887.00 84.42
2015-09-30 1,153.10 850.92 82.20
2015-06-30 1,127.27 878.19 87.38
2015-03-31 1,195.59 713.00 80.76
2014-12-31 1,162.45 700.00 58.46
2014-09-30 1,160.94 710.00 115.29
2014-06-30 1,134.00 665.00 95.84
2014-03-31 1,129.80 605.00 56.67
2013-12-31 1,130.13 594.00 54.59
2013-09-30 1,142.55 550.00 48.56
2013-06-30 1,063.20 585.14 60.97
2013-03-31 1,068.18 555.09 54.66
2012-12-31 1,039.63 590.00 69.46
2012-09-30 1,008.12 392.20 61.83
2012-06-30 980.66 413.80 46.93
  • Woodward's level of debt (68.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (53.6% vs 68.6% today).
  • Debt is well covered by operating cash flow (33%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 9.8x coverage).
X
Financial health checks
We assess Woodward's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Woodward has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Woodward's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.58%
Current annual income from Woodward dividends. Estimated to be 0.47% next year.
If you bought $2,000 of Woodward shares you are expected to receive $12 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Woodward's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Woodward's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:WWD Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United States of America Machinery Industry Average Dividend Yield Market Cap Weighted Average of 77 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:WWD Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-09-30 0.00 1.00
2020-09-30 0.70 2.00
2019-09-30 0.63 2.00
NasdaqGS:WWD Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-02 0.650 0.586
2019-01-31 0.650 0.678
2018-09-19 0.570 0.736
2018-07-31 0.570 0.712
2018-04-26 0.570 0.740
2018-01-25 0.570 0.773
2017-09-20 0.500 0.640
2017-07-28 0.500 0.714
2017-04-24 0.500 0.732
2017-01-26 0.500 0.724
2016-09-15 0.440 0.681
2016-07-25 0.440 0.728
2016-04-25 0.440 0.775
2016-01-21 0.440 0.899
2015-09-17 0.400 0.865
2015-07-24 0.400 0.865
2015-04-23 0.400 0.770
2015-01-23 0.400 0.823
2014-09-18 0.320 0.657
2014-07-25 0.320 0.624
2014-04-23 0.320 0.674
2014-01-24 0.320 0.760
2013-09-19 0.320 0.757
2013-07-24 0.320 0.785
2013-04-25 0.320 0.819
2013-01-24 0.320 0.842
2012-09-20 0.320 0.900
2012-07-26 0.320 0.898
2012-04-25 0.320 0.846
2012-01-26 0.320 0.745
2011-09-23 0.280 0.772
2011-07-28 0.280 0.947
2011-04-27 0.280 0.813
2011-01-26 0.280 0.833
2010-09-27 0.240 0.696
2010-07-28 0.240 0.832
2010-04-21 0.240 0.835
2010-01-22 0.240 0.817
2009-09-23 0.240 0.955
2009-07-22 0.240 1.134

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Woodward is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
  • Woodward is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Woodward's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Woodward's dividends as it is not paying a notable one for United States of America.
Future Payout to shareholders
  • No need to calculate the sustainability of Woodward's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Woodward's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Woodward afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Woodward has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Woodward's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tom Gendron
COMPENSATION $6,101,564
AGE 57
TENURE AS CEO 13.9 years
CEO Bio

Mr. Thomas A. Gendron, also known as Tom, has been the President and Chief Executive Officer of Woodward, Inc. since July 1, 2005 and September 2002 respectively. Previously, Mr. Gendron served as Chief Operating Officer at Woodward, Inc. from September 2002 to June 2005. Mr. Gendron served as Vice President and General Manager of Industrial Controls from June 2001 to September 2002; Vice President of Industrial Controls from April 2000 to May 2001; Director of Global Marketing and Industrial Controls' business development from February 1999 to March 2000; and marketing and Product Support Manager of Aircraft Engine Systems November 1990 to January 1999 at Woodward, Inc. From 1990 to 2005, he held various positions of increasing responsibility in the aircraft engine systems and industrial controls divisions at Woodward. He has served with Woodward for over 25 years in both the aircraft and industrial businesses, providing leadership in sales, marketing, business development, and product support management. Mr. Gendron started his career at Sundstrand Corporation where he held various engineering positions from 1983 to 1988. He served as Product Manager of Thermotron Industries, Inc. from 1988 to 1990. He has been the Chairman and Director at Woodward, Inc. since January 23, 2008 and July 1, 2005 respectively. He has been an Independent Director of Hexcel Corporation since December 7, 2010. He serves as a Director of Mountain States Employers Council, Inc. He serves as a Member of Board of Governors at Aerospace Industries Association. Mr. Gendron earned his Bachelor of Science in Engineering Physics from the University of Illinois and his Master's degree in Business Administration from Rockford College.

CEO Compensation
  • Tom's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Tom's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Woodward management team in years:

8
Average Tenure
53
Average Age
  • The average tenure for the Woodward management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tom Gendron

TITLE
Chairman
COMPENSATION
$6M
AGE
57
TENURE
13.9 yrs

Robert Weber

TITLE
Vice Chairman
COMPENSATION
$2M
AGE
64
TENURE
13.8 yrs

A. Fawzy

TITLE
Corporate VP
COMPENSATION
$1M
AGE
48
TENURE
9.8 yrs

Jack Thayer

TITLE
Vice Chairman of Corporate Operations
COMPENSATION
$274K
AGE
47
TENURE
0.4 yrs

Chad Preiss

TITLE
Business Unit President of Engine & Turbine Controls
COMPENSATION
$1M
AGE
53
TENURE
2.6 yrs

Sagar Patel

TITLE
Business Unit President of Fuel Systems & Controls
COMPENSATION
$1M
AGE
52
TENURE
8 yrs

Tom Cromwell

TITLE
Vice Chairman & COO
AGE
49
TENURE
0.3 yrs

John Tysver

TITLE
Corporate Vice President of Technology
AGE
56
TENURE
2.7 yrs

Don Guzzardo

TITLE
VP of Investor Relations & Treasurer

Steven Meyer

TITLE
Corporate Vice President of Human Resources
AGE
58
TENURE
9.7 yrs
Board of Directors Tenure

Average tenure and age of the Woodward board of directors in years:

9.5
Average Tenure
61.5
Average Age
  • The tenure for the Woodward board of directors is about average.
Board of Directors

Robert Weber

TITLE
Vice Chairman
COMPENSATION
$2M
AGE
64
TENURE
7.8 yrs

Jim Rulseh

TITLE
Director
COMPENSATION
$282K
AGE
63
TENURE
17.2 yrs

Tom Gendron

TITLE
Chairman
COMPENSATION
$6M
AGE
57
TENURE
11.4 yrs

Mary Petrovich

TITLE
Director
COMPENSATION
$280K
AGE
55
TENURE
16.9 yrs

Ronald Sega

TITLE
Director
COMPENSATION
$274K
AGE
65
TENURE
11.2 yrs

Gregg Sengstack

TITLE
Director
COMPENSATION
$284K
AGE
60
TENURE
7.8 yrs

John Cohn

TITLE
Lead Director
COMPENSATION
$285K
AGE
64
TENURE
1.6 yrs

Paul Donovan

TITLE
Director
COMPENSATION
$274K
AGE
70
TENURE
19.4 yrs

Dan Korte

TITLE
Director
COMPENSATION
$274K
AGE
57
TENURE
2.3 yrs

Eileen Drake

TITLE
Director
COMPENSATION
$274K
AGE
51
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
22. Feb 19 Sell James Rulseh Individual 21. Feb 19 21. Feb 19 -7,000 $95.92 $-671,445
22. Aug 18 Sell James Rulseh Individual 02. Aug 18 02. Aug 18 -4,112 $79.09 $-325,198
X
Management checks
We assess Woodward's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Woodward has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is There Now An Opportunity In Woodward, Inc. (NASDAQ:WWD)?

According to my valuation model, Woodward seems to be fairly priced at around 5.1% below my intrinsic value, which means if you buy Woodward today, you’d be paying a fair price for it. … NasdaqGS:WWD Past and Future Earnings, June 11th 2019 Future outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations.

Simply Wall St -

Does Woodward, Inc.'s (NASDAQ:WWD) Recent Track Record Look Strong?

In this article, I will take a look at Woodward, Inc.'s (NASDAQ:WWD) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … Let's take a look at whether it is only because of an industry uplift, or if Woodward has seen some company-specific growth. … You should continue to research Woodward to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for WWD’s future growth?

Simply Wall St -

How Much Are Woodward, Inc. (NASDAQ:WWD) Insiders Taking Off The Table?

So shareholders might well want to know whether insiders have been buying or selling shares in Woodward, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … It's great to see high levels of insider ownership, but looking back at the last year, we don't gain confidence from the Woodward insiders selling.

Simply Wall St -

Did Woodward, Inc. (NASDAQ:WWD) Use Debt To Deliver Its ROE Of 15%?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Woodward: 15% = US$250m ÷ US$1.7b (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Companies that can achieve high returns on equity without too much debt are generally of good quality. … If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

Simply Wall St -

Calculating The Intrinsic Value Of Woodward, Inc. (NASDAQ:WWD)

by taking the foreast future cash flows of the company and discounting them back to today's value. … This is done using the Discounted Cash Flow (DCF) model! … We generally believe that a company's value is the present value of all of the cash it will generate in the future.

Simply Wall St -

Don't Sell Woodward, Inc. (NASDAQ:WWD) Before You Read This

Woodward has a price to earnings ratio of 30.03, based on the last twelve months. … How Do I Calculate A Price To Earnings Ratio … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Here's Why I Think Woodward (NASDAQ:WWD) Might Deserve Your Attention Today

In contrast to all that, I prefer to spend time on companies like Woodward (NASDAQ:WWD), which has not only revenues, but also profits. … It's no surprise, then, that I like to invest in companies with EPS growth. … I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats).

Simply Wall St -

Investors Who Bought Woodward (NASDAQ:WWD) Shares Five Years Ago Are Now Up 129%

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During five years of share price growth, Woodward achieved compound earnings per share (EPS) growth of 10% per year. … This EPS growth is lower than the 18% average annual increase in the share price.

Simply Wall St -

Does Woodward, Inc.'s (NASDAQ:WWD) CEO Pay Reflect Performance?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Tom Gendron's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$6.0b, and pays its CEO total annual compensation worth US$6.1m.

Simply Wall St -

Is Woodward, Inc. (NASDAQ:WWD) Investing Effectively In Its Business?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Company Info

Description

Woodward, Inc. designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company’s Aerospace segment offers fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles; and flight deck controls, actuators, servo controls, motors, and sensors for aircraft that are used on commercial and private aircraft and rotorcraft, as well as on military fixed-wing aircraft and rotorcraft, guided weapons, and other defense systems. It also provides aftermarket maintenance, repair, overhaul, and other services to commercial airlines, repair facilities, military depots, third party repair shops, and other end users. This segment sells its products to original equipment manufacturers (OEMs), tier-one suppliers, and various contractors, as well as through aftermarket sales of components, such as provisioning spares or replacements, and spare parts. Its Industrial segment designs, produces, and services systems and products for the management of fuel, air, fluids, gases, motion, combustion, and electricity. Its products include actuators, valves, pumps, fuel injection systems, solenoids, ignition systems, speed controls, electronics and software, power converters, sensors, and other devices that measure, communicate, and protect electrical distribution systems for use in industrial gas turbines, steam turbines, reciprocating engines, electric power generation and power distribution systems, wind turbines, and compressors. This segment sells its products, aftermarket products, and other related services to OEMs through an independent network of distributors, as well as directly to end users. The company was founded in 1870 and is headquartered in Fort Collins, Colorado.

Details
Name: Woodward, Inc.
WWD
Exchange: NasdaqGS
Founded: 1870
$6,963,887,317
62,116,558
Website: http://www.woodward.com
Address: Woodward, Inc.
1081 Woodward Way,
Fort Collins,
Colorado, 80524,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS WWD Common Stock Nasdaq Global Select US USD 13. Dec 1972
DB WW1 Common Stock Deutsche Boerse AG DE EUR 13. Dec 1972
Number of employees
Current staff
Staff numbers
8,277
Woodward employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 23:45
End of day share price update: 2019/06/18 00:00
Last estimates confirmation: 2019/06/17
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.