Curtiss-Wright Corporation (CW) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-47.2%

$258.59

vs $489.55 price

Levered DCF

$283.71

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

6.4

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	42.6×	33.45×	24.06×	21.77×	20.98×	24.09×	19.57×	16.26×
P/B	8.14×	5.53×	3.66×	3.24×	3.07×	2.72×	3.39×	2.93×
P/S	5.9×	4.34×	3×	2.51×	2.24×	2.03×	2.42×	1.86×
EV / EBITDA	27.37×	21.32×	14.77×	13.8×	13.16×	14.15×	12.38×	10.08×
Gross margin	37.2%	37.0%	37.5%	37.3%	37.1%	35.2%	36.1%	36.1%
Operating margin	18.2%	16.9%	17.0%	16.6%	15.1%	12.1%	16.2%	15.5%
Net margin	13.8%	13.0%	12.5%	11.5%	10.5%	8.4%	12.4%	11.4%
Current ratio	1.44×	1.69×	2.13×	1.55×	1.78×	1.61×	2.05×	1.96×
Debt / equity	0.52×	0.5×	0.51×	0.71×	0.65×	0.68×	0.53×	0.5×
Interest coverage	14.79×	11.78×	9.43×	9.01×	9.37×	8.13×	12.89×	10.99×
Dividend yield	0.2%	0.2%	0.4%	0.4%	0.5%	0.6%	0.5%	0.6%
Payout ratio	7.2%	7.8%	8.5%	9.8%	10.9%	14.0%	9.2%	9.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	19.1%	16.5%	15.2%	14.9%	14.4%	11.3%	17.3%	18.0%
Return on invested capital	12.4%	10.2%	9.6%	8.7%	8.4%	6.6%	10.3%	11.3%
Return on assets	9.3%	8.1%	7.7%	6.6%	6.4%	5.0%	8.2%	8.5%
Free cash flow yield	2.7%	3.6%	4.7%	4.0%	6.2%	4.4%	5.8%	6.3%
Earnings yield	2.3%	3.0%	4.2%	4.6%	4.7%	4.1%	5.1%	6.2%
Enterprise value	$21.6B	$14.4B	$9.3B	$7.6B	$6.6B	$5.9B	$6.6B	$5B
Net debt / EBITDA	1.2×	1.25×	1.25×	2.1×	2.03×	2.44×	1.02×	0.99×
Cash conversion cycle (days)	148	152	149	153	141	143	139	135