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1. Company Snapshot

1.a. 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: Aerospace & Industrial, Defense Electronics, and Naval & Power.


The Aerospace & Industrial segment offers industrial vehicle products, such as electronic throttle control devices, joysticks, and transmission shifters; sensors, controls and electro-mechanical actuation components used in commercial and military aircraft; and surface technology services, including shot peening, laser peening, and coatings.The Defense Electronics segment provides commercial off-the-shelf embedded computing board-level modules, data acquisition and flight test instrumentation equipment, integrated subsystems, instrumentation and control systems, turret aiming and stabilization products, and weapons handling systems; avionics and electronics; flight test equipment; and aircraft data management solutions.The Naval & Power segment offers hardware, pumps, pump seals, control rod drive mechanisms, valves, fastening systems, specialized containment doors, airlock hatches, spent fuel management products, and fluid sealing products for nuclear power plants and nuclear equipment manufacturers; and naval propulsion and auxiliary equipment, including coolant pumps, power-dense compact motors, generators, steam turbines, valves, and secondary propulsion systems, as well as ship repair and maintenance services primarily to the U.S. navy.


Curtiss-Wright Corporation was founded in 1929 and is headquartered in Davidson, North Carolina.

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1.b. Last Insights on CW

Curtiss-Wright Corporation's recent performance was driven by strong sales and margin growth in the aerospace, defense, and nuclear energy markets. The company raised its full-year 2025 guidance, expecting 9-10% sales growth and 15-18% operating income growth. A $200M expansion of its share repurchase program also boosted investor confidence. Additionally, the company's Q3 earnings beat estimates, with quarterly earnings of $3.4 per share. Curtiss-Wright was upgraded to a Zacks Rank #2 (Buy), indicating growing optimism about its earnings prospects. (Source: Zacks)

1.c. Company Highlights

2. Curtiss-Wright's Strong Q3 2025 Earnings: Growth and Margin Expansion

Curtiss-Wright delivered a robust financial performance in Q3 2025, with revenue increasing 9% year-over-year to $869 million, in line with expectations, driven by 6% organic growth. Operating income rose 14% year-over-year, exceeding sales growth and resulting in 90 basis points of overall operating margin expansion to 19.6%. This translated into a 14% year-over-year increase in diluted earnings per share to $3.4, slightly exceeding estimates of $3.28. Free cash flow was $176 million, up 8% year-over-year, reflecting nearly 140% conversion due to higher cash earnings and lower tax payments.

Publication Date: Nov -11

📋 Highlights
  • Revenue Growth:: Q3 2025 revenue increased 9% YoY to $869M, with 6% organic growth and 14% diluted EPS growth.
  • Margin Expansion:: Operating margin expanded 90 bps to 19.6%, driven by 14% operating income growth outpacing revenue.
  • Free Cash Flow:: Generated $176M in FCF, up 8% YoY, with 140% cash earnings conversion and $520–535M full-year guidance.
  • Order Book Strength:: New orders rose 8%, with book-to-bill ratio above 1x, signaling sustained top-line momentum.
  • Segment Performance:: Naval & Power sales up 12% due to submarine programs; Defense Electronics grew 4% despite timing shifts.

Segment Performance

The company's three segments contributed to the overall growth, with Aerospace & Industrial sales increasing 8%, driven by commercial aerospace markets and modest growth for sensors and surface treatment services in aerospace defense. Defense Electronics sales growth of 4% exceeded expectations, mainly due to the timing of tactical communications equipment revenues within ground defense. Naval & Power sales increased 12%, with strong revenue growth driven by the acceleration of production on both the Columbia-class and Virginia-class submarine programs.

Outlook and Guidance

Curtiss-Wright raised its full-year 2025 guidance, with total operating income expected to grow 16% to 19% and operating margin ranging from 18.5% to 18.7%. The company expects sales to increase 10% to 11%, with 16% to 18% sales growth in commercial aerospace and 9% to 11% sales growth in commercial markets. Adjusted diluted EPS guidance is $12.95 to $13.20, or up 19% to 21%, and record free cash flow of $520 million to $535 million, up 8% to 11%.

Valuation and Growth Prospects

With a P/E Ratio of 47.55 and an EV/EBITDA of 34.64, the market is pricing in high growth expectations. The company's ROE of 18.49% and ROIC of 15.12% indicate strong profitability. As Lynn Bamford mentioned, "We're excited about the long runway ahead, driven by thoughtful and targeted investment to ensure that our businesses remain deeply aligned to the major near, medium, and long-term growth vectors within our end markets." Analysts estimate next year's revenue growth at 7.0%, which may be conservative given the company's strong track record and guidance.

3. NewsRoom

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Curtiss-Wright Corporation (NYSE:CW) Given Average Recommendation of “Moderate Buy” by Brokerages

Dec -03

Source: defenseworld.net

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Boston Partners Reduces Position in Curtiss-Wright Corporation $CW

Nov -28

Source: defenseworld.net

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Advisors Asset Management Inc. Increases Holdings in Curtiss-Wright Corporation $CW

Nov -26

Source: defenseworld.net

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Curtiss-Wright Boosts Share Buyback Authorization to $550 Million

Nov -25

Source: zacks.com

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Curtiss-Wright Corporation $CW Shares Bought by Creative Planning

Nov -24

Source: defenseworld.net

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Curtiss-Wright Increases Share Repurchase Authorization to $550 Million and Declares Dividend of $0.24 Per Share for Common Stock

Nov -20

Source: businesswire.com

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Acadian Asset Management LLC Boosts Stock Position in Curtiss-Wright Corporation $CW

Nov -14

Source: defenseworld.net

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Curtiss-Wright Corporation (CW) Presents at Baird 55th Annual Global Industrial Conference Transcript

Nov -13

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.00%)

6. Segments

Naval & Power

Expected Growth: 4%

Curtiss-Wright's Naval & Power segment growth is driven by increasing demand for nuclear power generation, expansion in naval defense spending, and growing adoption of advanced propulsion systems. Additionally, the company's strategic acquisitions and investments in digital technologies, such as artificial intelligence and cybersecurity, are expected to contribute to its growth.

Aerospace & Industrial

Expected Growth: 4%

Curtiss-Wright's Aerospace & Industrial segment growth is driven by increasing demand for commercial aerospace, defense, and industrial technologies. Key drivers include rising aircraft production, growing defense spending, and adoption of advanced industrial automation solutions. Additionally, the company's strategic acquisitions and investments in digital transformation, cybersecurity, and sustainability initiatives are expected to fuel future growth.

Defense Electronics

Expected Growth: 4%

Curtiss-Wright's Defense Electronics segment growth is driven by increasing demand for advanced electronic systems in military aircraft, ships, and ground vehicles. The company's expertise in ruggedized electronics, cybersecurity, and signal processing technologies positions it to benefit from the modernization of defense platforms and the growing need for secure communication systems.

Intersegment Revenues

Expected Growth: 4%

Curtiss-Wright's 4% intersegment revenue growth is driven by increasing demand for nuclear and defense technologies, expansion in commercial aerospace, and strategic acquisitions. Additionally, the company's focus on innovation, cost savings initiatives, and a strong backlog of orders contribute to its growth momentum.

7. Detailed Products

Nuclear Products

Curtiss-Wright's nuclear products provide safety-critical solutions for the nuclear power industry, including reactor coolant pumps, motors, and generators.

Actuation Systems

Curtiss-Wright's actuation systems provide motion control solutions for aerospace, defense, and industrial applications.

Sensors and Controls

Curtiss-Wright's sensors and controls provide advanced sensing and control solutions for aerospace, defense, and industrial applications.

Embedded Computing

Curtiss-Wright's embedded computing solutions provide rugged, high-performance computing platforms for aerospace, defense, and industrial applications.

Avionics and Electronics

Curtiss-Wright's avionics and electronics provide advanced avionics systems, displays, and electronic components for aerospace and defense applications.

Naval and Power Generation

Curtiss-Wright's naval and power generation solutions provide advanced propulsion, power generation, and distribution systems for naval and industrial applications.

8. Curtiss-Wright Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Curtiss-Wright Corporation is medium due to the presence of alternative products and services in the aerospace and defense industry.

Bargaining Power Of Customers

The bargaining power of customers for Curtiss-Wright Corporation is low due to the company's strong brand reputation and the complexity of its products.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Curtiss-Wright Corporation is medium due to the presence of multiple suppliers in the industry, but the company's large scale of operations gives it some bargaining power.

Threat Of New Entrants

The threat of new entrants for Curtiss-Wright Corporation is low due to the high barriers to entry in the aerospace and defense industry, including high capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry for Curtiss-Wright Corporation is high due to the presence of several established players in the industry, leading to intense competition for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 31.71%
Debt Cost 5.74%
Equity Weight 68.29%
Equity Cost 9.85%
WACC 8.55%
Leverage 46.43%

11. Quality Control: Curtiss-Wright Corporation passed 8 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Huntington Ingalls

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Value: 4.7

Growth: 4.2

Quality: 5.0

Yield: 4.0

Momentum: 7.0

Volatility: 7.0

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Curtiss-Wright

A-Score: 5.2/10

Value: 1.2

Growth: 6.1

Quality: 6.9

Yield: 0.0

Momentum: 9.0

Volatility: 8.0

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Yield: 0.0

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Quality: 5.2

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Quality: 5.3

Yield: 1.0

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Volatility: 5.7

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A-Score: 4.6/10

Value: 0.0

Growth: 9.6

Quality: 5.1

Yield: 0.0

Momentum: 9.0

Volatility: 4.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

547.76$

Current Price

547.76$

Potential

-0.00%

Expected Cash-Flows