One-glance verdict
Within fair range
$441.82 our estimate vs market $570.04
Wall Street consensus: $786.25 (78.0% higher than our fair-value estimate)
29% above our estimate
Fundamentals snapshot
Curtiss-Wright Corporation
CW · NYQ · Industrials · Aerospace & Defense
Current price
$570.04
52-week range
$490.66 - $808.16
Market cap
$21.05B
Balance sheet
Healthy
14.79x Strong cushion
Net debt $671.83M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 4.4% last year.
- Reward Returns 19.7% on equity, ahead of 40% of its peers.
- Reward Free cash flow was positive in 10/10 years.
- Risk Insider ownership is only 0.4% (peer median: 7.4%).
What this company does
Curtiss-Wright Corporation
Curtiss-Wright makes and services highly specialized, critical parts for the aerospace, defense, and nuclear power industries. Most of its business comes from selling essential and hard-to-make products, like pumps for nuclear reactors and control systems for military aircraft, to customers like the U.S. government. Because these products are vital for national defense and energy, the company often has stable, long-term contracts.
How the company got here
Curtiss-Wright was formed in 1929 from the merger of companies started by aviation pioneers Glenn Curtiss and the Wright brothers, quickly becoming the largest aircraft company in the U.S. During World War II, it was a massive producer of aircraft and engines for the military. After the war, the company shifted its focus away from building entire aircraft. Through many decades of acquiring other companies, it transformed into a maker of highly specialized, critical components for the aerospace, defense, and power industries.
What it actually does
Today, Curtiss-Wright doesn't make the planes you fly on, but it makes crucial parts inside them and in many other complex systems. Think of them as a supplier of high-tech, essential components for applications where failure is not an option, like in military vehicles, nuclear submarines, and commercial airliners. They provide things like flight controls, valves for naval ships, and rugged electronics for defense systems. The company also offers specialized services, such as treatments to make metal parts stronger and last longer.
Aerospace & Industrial
This part of the company makes a wide variety of components for commercial airplanes and industrial vehicles. For aircraft made by companies like Boeing and Airbus, they supply sensors, controls, and systems that help operate everything from the engines to the doors. For industrial vehicles like heavy-duty trucks and construction equipment, they provide things like electronic throttle controls and transmission shifters. This segment, which is a significant part of the company, also includes services that treat the surfaces of metal parts to make them more durable.
Defense Electronics
This segment focuses on the "brains" and communication systems for military equipment. They build rugged, specialized computers and electronics designed to survive harsh conditions like extreme vibrations and temperatures on fighter jets, armored vehicles, and naval ships. These systems are used for tasks like processing data from sensors, managing video, and enabling secure communications on the battlefield. This business is a major supplier to the U.S. military and its allies, providing what are known as Commercial Off-The-Shelf (COTS) technologies, which are standardized components that can be quickly deployed.
Naval & Power
This division is a critical supplier to the U.S. Navy's nuclear fleet and the commercial nuclear power industry. For nuclear-powered submarines and aircraft carriers, they provide essential, long-lasting components like high-performance pumps, valves, motors, and generators that are part of the ship's propulsion system. For commercial nuclear power plants, they supply similar critical hardware and services that ensure safety and reliability, including pumps and control systems. This segment represents a large and stable part of Curtiss-Wright's business due to the long-term nature of naval and nuclear programs.
What management is betting on now
The company's current strategy, called the "Pivot to Growth," focuses on increasing sales and profits. A key part of this is expanding its business in naval defense and with allied countries, as these areas provide stable, long-term demand. They are also focused on growing their content on commercial aircraft and in the nuclear power industry. Management continues to look for smaller companies to acquire (a strategy known as bolt-on acquisitions) that fit well with their existing technology and customer base, while also investing in new product development to stay ahead.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$162.69M
FY2024 Q4
$278.03M
FY2025 Q1
$-54.54M
FY2025 Q2
$117.20M
FY2025 Q3
$175.94M
FY2025 Q4
$315.11M
FY2026 Q1
$-17.49M
FY2026 Q2
$151.73M
Revenue
$924.01M
Net income
$151.17M
Diluted EPS
4.07
Operating cash flow
$181.18M
Free cash flow
$151.73M
Fetching…
Sources
Revenue
$913.69M
Net income
$128.19M
Diluted EPS
3.46
Operating cash flow
$-5.66M
Free cash flow
$-17.49M
Fetching…
Sources
Revenue
$946.98M
Net income
$137.00M
Diluted EPS
3.69
Operating cash flow
$352.74M
Free cash flow
$315.11M
Fetching…
Sources
Revenue
$869.17M
Net income
$124.83M
Diluted EPS
3.31
Operating cash flow
$192.84M
Free cash flow
$175.94M
Fetching…
Sources
Revenue
$876.58M
Net income
$121.06M
Diluted EPS
3.19
Operating cash flow
$136.59M
Free cash flow
$117.20M
Fetching…
Sources
Revenue
$805.64M
Net income
$101.34M
Diluted EPS
2.68
Operating cash flow
$-38.77M
Free cash flow
$-54.54M
Fetching…
Sources
Revenue
$824.31M
Net income
$117.85M
Diluted EPS
3.09
Operating cash flow
$301.30M
Free cash flow
$278.03M
Fetching…
Sources
Revenue
$798.92M
Net income
$111.16M
Diluted EPS
2.89
Operating cash flow
$177.27M
Free cash flow
$162.69M
Fetching…
Sources
Is it cheap or expensive?
Fair value $441.82 vs current price $570.04
Wall Street consensus is the average analyst price target: $786.25 (78.0% higher than our fair-value estimate).
Our most-likely fair value is $441.82 a share — about 22.5% away from today's price of $570.04, so the stock currently looks fairly priced.
Is it drowning in debt?
Healthy
Net debt $671.8M. Interest coverage 14.8x.
Net debt
$671.83M
Interest coverage
14.79x
Curtiss-Wright Corporation's profit covers its interest bill about 14.8 times over. which is stronger than most peers shown here.
Healthy
Worse cushion
Baseline
Better cushion
CW
BASELINE
Curtiss-Wright Corporation
Total debt $1.15B Interest coverage 14.79x This is the baseline the peer rows are being compared against.
Total debt $1.38B Interest coverage 10.48x -29% vs CW Carries about 1.4x less debt cushion than CW.
Total debt $1.12B Interest coverage 37.54x +154% vs CW Carries about 2.5x more debt cushion than CW.
Total debt $2.02B Interest coverage 7.34x -50% vs CW Carries about 2.0x less debt cushion than CW.
Total debt $2.54B Interest coverage 7.85x -47% vs CW Carries about 1.9x less debt cushion than CW.
What you should know
The case for and against CW
3 Rewards
1 Risk
Rewards
-
Revenue grew 4.4% last year.
-
Returns 19.7% on equity, ahead of 40% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Insider ownership is only 0.4% (peer median: 7.4%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
39.26x
Forward P/E
33.26x
P/B
7.60x
P/S
5.76x
EV/EBITDA
25.45x
PEG ratio
2.00x
Profitability
How much profit each dollar creates
Gross margin
37.7%
Operating margin
19.4%
Net margin
14.8%
ROE
19.7%
ROA
8.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.41x
Current ratio
1.60x
Quick ratio
1.06x
Total debt
$1.15B
Total cash
$477.15M
Growth
How the business has been compounding
Revenue TTM
$3.65B
Revenue 5Y CAGR
8.8%
EPS TTM
14.52
EPS 5Y CAGR
19.1%
Cash flow
How much cash the business throws off
Operating CF TTM
$721.11M
Free CF TTM
$553.71M
FCF margin
15.2%
Dividend
Shareholder payout
Yield
0.2%
Payout ratio
6.7%
Last ex-div date
2026-09-25