Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 10, 2026

Woodward, Inc. (WWD)

A forensic read on Woodward, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality compounder

Forensic grade

Safe

Financial health

15.4

Distress distance

Clean

Earnings quality

Forensic signals

40.0

P / E (ttm)

17.2%

ROE

$21.1B

Market cap

0.32%

Dividend yield

7.3%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Woodward, Inc. earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 15.4, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+10.0%

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets grew +10.0% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The cash-flow cross-check is more mixed: reported earnings ran in line with operating cash by 1% of net operating assets, diverging from the balance-sheet accrual read.

13.7%

FY2025

Return on invested capital. Return on invested capital is 13.7% in the latest fiscal year and rising from 6% — a modest positive spread over its ~9% cost of capital — growth adds value, though not dramatically.

$9M

FY2020–FY2020

Goodwill impairments. Took $9M of goodwill writedowns across 1 year (FY2020 ($9M)) — about 4% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$3.57B

Revenue Growth YoY+7.3%

Revenue CAGR (3yr)+14.4%

Net Margin12.4%

Free Cash Flow$340.4M

Return on Equity17.2%

Debt / Equity0.23x

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Data from SEC EDGAR public filings · metrics as of Aug 10, 2026. Forensic signals flag probability, not certainty.