Discounted Cash Flow

Woodward, Inc.

WWD · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $2.0b $180.8m $259.7m 8.9% $2.92
2017 $2.1b (3.7%) $200.5m (10.9%) $215.2m (-17.1%) 9.6% (6.9%) $3.27 (12.0%)
2018 $2.3b (10.8%) $180.4m (-10.0%) $172.2m (-20.0%) 7.8% (-18.8%) $2.93 (-10.4%)
2019 $2.9b (24.7%) $259.6m (43.9%) $291.5m (69.4%) 9.0% (15.4%) $4.19 (43.0%)
2020 $2.5b (-13.9%) $240.4m (-7.4%) $302.4m (3.7%) 9.6% (7.6%) $3.86 (-7.9%)
2021 $2.2b (-10.0%) $208.6m (-13.2%) $427.0m (41.2%) 9.3% (-3.6%) $3.30 (-14.5%)
2022 $2.4b (6.1%) $171.7m (-17.7%) $140.8m (-67.0%) 7.2% (-22.4%) $2.79 (-15.5%)
2023 $2.9b (22.3%) $232.4m (35.3%) $232.0m (64.8%) 8.0% (10.6%) $3.88 (39.1%)
2024 $3.3b (14.1%) $373.0m (60.5%) $342.8m (47.7%) 11.2% (40.7%) $6.21 (60.1%)
2025 $3.6b (7.3%) $442.1m (18.5%) $340.4m (-0.7%) 12.4% (10.5%) $7.42 (19.5%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model