Curtiss-Wright Corp (CW)
NYSE:CW
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Curtiss-Wright
(NYSE:CW)
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Rating:76Outperform
Price Target:
$797.00
▲(8.34% Upside)
Action:Reiterated
Date:05/21/26
The score is driven primarily by strong financial performance (healthy margins, strong free cash flow, improving leverage) and a very positive earnings call with raised FY2026 guidance and record backlog. Offsetting factors are a softer near-term technical setup and a demanding valuation (high P/E and minimal dividend yield).
Positive Factors
Free Cash Flow Strength
High and growing free cash flow (~$591M TTM) with roughly 0.87–0.90 conversion indicates strong earnings quality and durable internal funding. This supports sustained capex for naval/nuclear ramps, disciplined M&A, and shareholder returns while cushioning cyclical downturns.
Negative Factors
Sizeable Absolute Debt
Although leverage has improved, a nominal debt load around $1.15B keeps interest and refinancing risk present. Material absolute debt can constrain flexibility for large bolt-on acquisitions or increased buybacks if cash generation weakens or rates rise, limiting optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
High and growing free cash flow (~$591M TTM) with roughly 0.87–0.90 conversion indicates strong earnings quality and durable internal funding. This supports sustained capex for naval/nuclear ramps, disciplined M&A, and shareholder returns while cushioning cyclical downturns.
Read all positive factors
Curtiss-Wright (CW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$26.84B
Dividend Yield0.16%
Average Volume (3M)241.37K
Price to Earnings (P/E)49.0
Beta (1Y)1.08
Revenue Growth12.22%
EPS Growth21.44%
CountryUS
Employees8,900
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)13.73
Shares Outstanding36,941,162
10 Day Avg. Volume278,157
30 Day Avg. Volume241,366
Financial Highlights & Ratios
PEG Ratio1.94
Price to Book (P/B)8.14
Price to Sales (P/S)5.90
P/FCF Ratio37.25
Enterprise Value/Market Cap1.03
Enterprise Value/Revenue7.67
Enterprise Value/Gross Profit20.63
Enterprise Value/Ebitda37.11
Forecast
1Y Price Target
$789.67Price Target Upside7.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)15.18
Revenue Forecast (FY)$3.77B
Curtiss-Wright Business Overview & Revenue Model
Company Description
Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services to the aerospace, defense, general industrial, and power generation markets worldwide. worldwide. It operates through three segments:...
How the Company Makes Money
Curtiss-Wright makes money primarily by selling engineered components, subsystems, and aftermarket services across its three operating segments, with revenue generally tied to (1) original equipment production for aircraft, military platforms, shi...
Curtiss-Wright Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call conveyed broad operational strength: solid double-digit revenue and EPS growth, record backlog and order momentum, meaningful margin expansion, raised full-year guidance across sales, margins, EPS and free cash flow, and positive segment-level performance (especially Naval & Power and Aerospace & Industrial). Lowlights were primarily timing and market-recovery issues (ground defense timing, short-cycle revenue timing, flat general industrial), supply-chain watch items, and uncertainty on the timing of some large nuclear orders. Overall, the positive financial results, upgraded guidance and record backlog materially outweigh the near-term timing and supply risks.Positive Updates
Top-Line Growth
First quarter sales of $914 million, up 13% year-over-year, driven by higher sales across all major end markets.
Negative Updates
Timing Delays and FY26 Budget Uncertainty Impact Ground Defense
Ground defense revenue was flat in Q1 and tactical communications declined; management maintained a conservative outlook for ground defense due to FY2026 budget delays and prior government shutdowns—timing risks could pressure near-term revenues.
Read all updates
Q1-2026 Updates
Positive
Negative
Top-Line Growth
First quarter sales of $914 million, up 13% year-over-year, driven by higher sales across all major end markets.
Read all positive updates
Company Guidance
Curtiss‑Wright raised its full‑year 2026 outlook, now forecasting total sales growth of 7%–8%, operating income growth of 9%–12% and operating margin of 19.0%–19.2% (up 40–60 bps); diluted EPS is guided to $14.90–$15.30 (up 13%–16%), and free cash flow is projected at a record $580–$600 million (up 5%–8% vs. 2025) with ~105% cash‑flow conversion, working capital below 18% and nearly a 30% increase in growth capex year‑over‑year. Segment guidance includes Aerospace & Industrial sales +6%–8% with operating income +13%–15% and margins of 18.4%–18.6% (up 100–120 bps); Defense Electronics sales +4%–6% and operating income +4%–6% with margins of 27.3%–27.5%; Naval & Power sales +9%–11% and operating income +13%–15% with margin expansion of 40–60 bps. By end market, aerospace defense is expected +11%–13% (total A&D +6%–8%), Commercial Aerospace +10%–12%, Power & Process +13%–15% (commercial nuclear mid‑to‑high teens), general industrial flat, and total commercial markets +8%–10%; near‑term cadence calls for Q2 sales up mid‑single digits and Q2 operating income up high‑single‑digits (Q2 EPS +low‑double‑digits), underpinned by a Q1 record backlog near $4.3 billion and a 1.3x book‑to‑bill.Curtiss-Wright Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.61B | 3.50B | 3.12B | 2.85B | 2.56B | 2.50B |
| Gross Profit | 1.34B | 1.30B | 1.15B | 1.07B | 954.61M | 927.80M |
| EBITDA | 745.31M | 638.02M | 674.59M | 630.63M | 548.20M | 503.58M |
| Net Income | 511.08M | 484.23M | 404.98M | 354.51M | 294.35M | 262.83M |
Balance Sheet | ||||||
| Total Assets | 5.27B | 5.22B | 4.99B | 4.62B | 4.45B | 4.10B |
| Cash, Cash Equivalents and Short-Term Investments | 343.45M | 371.35M | 385.04M | 406.87M | 256.97M | 171.00M |
| Total Debt | 1.15B | 1.31B | 1.23B | 1.20B | 1.41B | 1.20B |
| Total Liabilities | 2.64B | 2.69B | 2.54B | 2.29B | 2.47B | 2.28B |
| Stockholders Equity | 2.63B | 2.53B | 2.45B | 2.33B | 1.98B | 1.83B |
Cash Flow | ||||||
| Free Cash Flow | 590.76M | 553.71M | 483.30M | 403.42M | 256.56M | 346.56M |
| Operating Cash Flow | 676.51M | 643.40M | 544.27M | 448.09M | 294.78M | 387.67M |
| Investing Cash Flow | -76.75M | -90.12M | -283.31M | -35.52M | -325.87M | -42.40M |
| Financing Cash Flow | -487.73M | -578.30M | -271.49M | -273.40M | 129.43M | -369.13M |
Curtiss-Wright Technical Analysis
Positive
735.65
Price Trends
708.62
Positive
680.50
Positive
606.84
Positive
Market Momentum
3.14
Positive
52.09
Neutral
31.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CW, the sentiment is Positive. The current price of 735.65 is above the 20-day moving average (MA) of 723.03, above the 50-day MA of 708.62, and above the 200-day MA of 606.84, indicating a bullish trend. The MACD of 3.14 indicates Positive momentum. The RSI at 52.09 is Neutral, neither overbought nor oversold. The STOCH value of 31.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CW.
Curtiss-Wright Risk Analysis
Curtiss-Wright disclosed 34 risk factors in its most recent earnings report. Curtiss-Wright reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Curtiss-Wright Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $26.84B | 49.01 | 19.64% | 0.16% | 12.22% | 21.44% | |
73 Outperform | $15.57B | 17.63 | 12.13% | 0.09% | 9.48% | 18.21% | |
70 Outperform | $21.23B | 39.88 | 20.25% | 0.35% | 19.03% | 34.44% | |
68 Neutral | $18.57B | 51.39 | 27.91% | 0.56% | 21.39% | 19.25% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | $10.47B | 242.47 | 1.26% | ― | 21.82% | 34.38% | |
50 Neutral | $8.18B | -21.68 | -6.41% | ― | 116.86% | -467.25% |
* Industrials Sector Average
CW
Curtiss-Wright
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Curtiss-Wright Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Curtiss-Wright Secures Expanded $1 Billion Credit Facility
Positive
May 20, 2026
On May 19, 2026, Curtiss-Wright entered into a new syndicated revolving credit facility worth $1 billion with a consortium of nine banks, replacing its prior $750 million facility that had been scheduled to mature in May 2027. The new facility, wh...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Curtiss-Wright Shareholders Reelect Board and Approve Governance
Positive
May 8, 2026
At its Annual Meeting of Stockholders held on May 7, 2026, Curtiss-Wright shareholders elected all nominated directors, including CEO Lynn M. Bamford and eight other board members, with each candidate receiving a strong majority of votes cast. The...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.