Curtiss Wright (CW) FY2021 results: revenue $2.5 billion, up 4.6% on the year
Curtiss Wright Corp. (CW) reported revenue of $2.5 billion for fiscal 2021, the year ended 31 December 2021, up 4.6% on the year before. Net income was $263 million, up 30.5%, and diluted earnings per share $6.47. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.
Revenue
$2.5 billion
+4.6% on the year
FY2014FY2021
Operating margin
15.1%
12.1% a year earlier
FY2014FY2021
Net income
$263 million
+30.5% on the year
FY2014FY2021
Diluted EPS
$6.47
+34.8% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
388
261
421
+48.4%
Capital expenditure
41.1
47.5
69.8
-13.5%
Free cash flow
347
214
352
+62.2%
Free cash flow margin
13.9%
8.9%
14.1%
Cash from investing
-42.4
-533
-240
Cash from financing
-369
82.1
-68.1
Depreciation and amortisation
114
116
102
-1.3%
Share-based compensation
13.4
14.4
13.7
-6.8%
Buybacks
343
200
50.7
+71.5%
Dividends paid
28.7
28.2
28.2
+1.7%
Dividend per share
$0.71
$0.68
$0.66
+4.4%
Diluted shares, weighted
41m
42m
43m
-3.3%
Shares outstanding at period end
38m
41m
43m
-6.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,826
1,788
1,774
+2.2%
Debt
1,051
1,058
761
-0.7%
Operating lease liabilities
127
133
145
-4.4%
Finance lease liabilities
9.0
10.0
11.0
-10.1%
Other liabilities
1,090
1,032
1,073
+5.6%
Total liabilities and equity
4,104
4,021
3,764
+2.0%
Fixed assets
360
378
386
-4.8%
Goodwill
1,463
1,455
1,167
+0.5%
Intangible assets
538
610
480
-11.7%
Cash and equivalents
171
198
391
-13.7%
Receivables
647
589
632
+9.9%
Inventory
412
429
425
-4.0%
Other assets
513
363
284
+41.4%
Total assets
4,104
4,021
3,764
+2.0%
10-K for the year ended 31 December 2021, filed 20 February 2024: the filing.