Woodward, Inc. (WWD) Income Statement
WWD FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsWWD revenue and net income
Where WWD's revenue goes
FY2025Each bar shows an amount and its share of revenue. WWD kept 12.4% of revenue as net income.
WWD profit margins
WWD growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.3% | +14.4% | +7.4% | +5.8% |
| Gross profit | +9.1% | +22.1% | +8.4% | +5.0% |
| Operating income | +16.2% | +33.7% | +11.7% | +6.8% |
| Net income | +18.5% | +37.1% | +13.0% | +9.3% |
| EPS (diluted) | +12.8% | +35.7% | +11.8% | +9.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WWD quarterly EPS vs estimates
Woodward beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 23, 2026 (estimate $2.50).
WWD income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.57B | $3.32B | $2.91B | $2.38B | $2.25B | $2.50B | $2.90B | $2.33B | $2.10B | $2.02B |
| Cost of revenue | $2.61B | $2.45B | $2.24B | $1.86B | $1.69B | $1.86B | $2.19B | $1.72B | $1.53B | $1.48B |
| Gross profit | $956.3M | $876.5M | $677.6M | $525.3M | $551.1M | $640.2M | $707.5M | $606.2M | $572.6M | $547.5M |
| Research & development | $147.6M | $140.7M | $132.1M | $119.8M | $117.1M | $133.1M | $159.1M | $148.3M | $126.5M | $126.2M |
| Sales, general & admin | $329.8M | $307.5M | $269.7M | $11.6M | $7.2M | $217.7M | $211.2M | $192.8M | $176.6M | $155.0M |
| Total operating expenses | $445.1M | $436.4M | $401.8M | $311.2M | $296.7M | $346.7M | $366.8M | $337.9M | $301.7M | $298.5M |
| Operating income | $511.2M | $440.1M | $328.8M | $214.1M | $254.3M | $293.6M | $340.8M | $281.5M | $269.4M | $253.9M |
| Interest income | $4.2M | $6.5M | $2.8M | $1.8M | $1.5M | $1.8M | $1.4M | $1.7M | $1.7M | $2.0M |
| Interest expense | $45.7M | $48.0M | $47.9M | $34.5M | $34.3M | $35.8M | $44.0M | $40.5M | $35.6M | $26.8M |
| Income before taxes | $521.4M | $454.0M | $275.8M | $199.9M | $245.8M | $281.9M | $320.6M | $219.6M | $252.7M | $226.5M |
| Income taxes | $79.3M | $81.0M | $43.4M | $28.2M | $37.1M | $41.5M | $61.0M | $39.2M | $52.2M | $45.6M |
| Net income | $442.1M | $373.0M | $232.4M | $171.7M | $208.6M | $240.4M | $259.6M | $180.4M | $200.5M | $180.8M |
| EBITDA | $680.4M | $618.1M | $328.8M | $355.1M | $409.6M | $424.7M | $482.8M | $397.6M | $350.3M | $324.1M |
| EPS (diluted) | $6.89 | $6.11 | $4.20 | $2.76 | $3.24 | $3.94 | $4.88 | $3.86 | $3.16 | $3.01 |
| Gross margin | 26.8% | 26.4% | 23.2% | 22.0% | 24.5% | 25.7% | 24.4% | 26.1% | 27.3% | 27.1% |
| Operating margin | 14.3% | 13.2% | 11.3% | 9.0% | 11.3% | 11.8% | 11.7% | 12.1% | 12.8% | 12.6% |
| Net margin | 12.4% | 11.2% | 8.0% | 7.2% | 9.3% | 9.6% | 9.0% | 7.8% | 9.6% | 8.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.11B | $1.09B | $996.5M | $995.3M | $915.4M | $883.6M | $772.7M | $854.5M | $847.7M | $835.3M | $786.7M | $777.1M |
| Cost of revenue | $759.8M | $774.7M | $704.3M | $717.9M | $666.3M | $643.5M | $583.1M | $646.7M | $617.7M | $601.0M | $582.4M | $587.5M |
| Gross profit | $349.9M | $315.9M | $292.2M | $277.4M | $249.2M | $240.1M | $189.6M | $207.8M | $230.0M | $234.4M | $204.3M | $189.6M |
| Research & development | $49.3M | $46.1M | $37.8M | $39.0M | $41.1M | $37.2M | $30.2M | $34.7M | $38.7M | $36.5M | $30.8M | $32.1M |
| Sales, general & admin | $106.5M | $102.3M | $95.0M | $87.6M | $88.7M | $83.8M | $69.7M | $2.9M | $2.9M | $81.4M | $74.5M | $72.9M |
| Total operating expenses | $155.8M | $148.4M | $132.7M | $126.6M | $129.1M | $116.6M | $95.7M | $106.6M | $112.5M | $113.6M | $101.1M | $86.7M |
| Operating income | $194.1M | $167.5M | $159.4M | $150.8M | $120.1M | $123.5M | $93.9M | $101.2M | $117.5M | $120.8M | $103.3M | $102.9M |
| Interest income | $611,000 | $715,000 | $701,000 | $953,000 | $838,000 | $1.0M | $1.4M | $2.0M | $1.7M | $1.3M | $1.5M | $1.4M |
| Interest expense | $14.8M | $12.0M | $10.3M | $10.2M | $11.2M | $11.9M | $12.3M | $13.5M | $11.5M | $11.5M | $11.4M | $11.7M |
| Income before taxes | $193.5M | $167.4M | $169.2M | $159.8M | $126.8M | $133.0M | $101.9M | $101.5M | $122.1M | $120.6M | $109.7M | $98.0M |
| Income taxes | $46.8M | $33.4M | $35.4M | $22.1M | $18.4M | $24.0M | $14.8M | $18.2M | $20.0M | $23.1M | $19.7M | $15.4M |
| Net income | $146.7M | $134.0M | $133.7M | $137.6M | $108.4M | $108.9M | $87.1M | $83.3M | $102.1M | $97.6M | $90.0M | $82.7M |
| EBITDA | $240.4M | $209.4M | $208.5M | $199.2M | $166.7M | $172.4M | $142.1M | $144.3M | $162.4M | $161.4M | $150.0M | $140.2M |
| EPS (diluted) | $2.52 | $2.27 | $2.17 | $2.09 | $1.76 | $1.69 | $1.35 | $1.41 | $1.63 | $1.62 | $1.45 | $1.33 |
| Gross margin | 31.5% | 29.0% | 29.3% | 27.9% | 27.2% | 27.2% | 24.5% | 24.3% | 27.1% | 28.1% | 26.0% | 24.4% |
| Operating margin | 17.5% | 15.4% | 16.0% | 15.1% | 13.1% | 14.0% | 12.2% | 11.8% | 13.9% | 14.5% | 13.1% | 13.2% |
| Net margin | 13.2% | 12.3% | 13.4% | 13.8% | 11.8% | 12.3% | 11.3% | 9.7% | 12.0% | 11.7% | 11.4% | 10.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WWD's financial statements (latest annual report filed November 25, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WWD financial results
In fiscal year 2025 (ended September 30, 2025), Woodward reported revenue of $3.6 billion, up 7.3% from the year before. It had net income of $442.1 million (up 18.5%), a net profit margin of 12.4%. Diluted earnings per share came to $6.89. Over five years revenue grew at an average rate of 7.4% a year.
See the WWD stock overview for the latest quote and news, or the WWD chart for price history and technical indicators.
WWD income statement FAQ
What is Woodward's annual revenue?
Woodward reported total revenue of $3.6 billion for fiscal year 2025, which ended on September 30, 2025. That was up 7.3% from $3.3 billion the previous year.
Is Woodward profitable?
Yes. Woodward reported net income of $442.1 million in fiscal 2025, a net profit margin of 12.4%; its operating margin was 14.3%.
What is Woodward's gross margin?
Woodward's gross margin was 26.8% in fiscal 2025: for every $100 of revenue, Woodward kept $27 after the direct cost of its products and services.
How much does Woodward spend on research and development?
Woodward spent $147.6 million on research and development in fiscal 2025, 4.1% of revenue.
How fast is Woodward growing?
Revenue grew 7.4% a year on average over the last five fiscal years, from $2.5 billion to $3.6 billion.
What are Woodward's earnings per share?
Woodward earned $6.89 per diluted share in fiscal 2025, compared with $6.11 a year earlier.
When will Woodward report its next earnings?
Woodward is expected to report results for the quarter ending September 30, 2026 on November 23, 2026 after the market closes.
When does Woodward's fiscal year end?
Woodward's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on November 25, 2025.