Curtiss Wright (CW) FY2022 results: revenue $2.6 billion, up 2.2% on the year
Curtiss Wright Corp. (CW) reported revenue of $2.6 billion for fiscal 2022, the year ended 31 December 2022, up 2.2% on the year before. Net income was $294 million, up 12.0%, and diluted earnings per share $7.62. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.
Revenue
$2.6 billion
+2.2% on the year
FY2015FY2022
Operating margin
16.6%
15.1% a year earlier
FY2015FY2022
Net income
$294 million
+12.0% on the year
FY2015FY2022
Diluted EPS
$7.62
+17.8% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
295
388
261
-24.0%
Capital expenditure
38.2
41.1
47.5
-7.0%
Free cash flow
257
347
214
-26.0%
Free cash flow margin
10.0%
13.9%
8.9%
Cash from investing
-326
-42.4
-533
Cash from financing
129
-369
82.1
Depreciation and amortisation
112
114
116
-2.1%
Share-based compensation
15.4
13.4
14.4
+14.4%
Buybacks
56.9
343
200
-83.4%
Dividends paid
28.8
28.7
28.2
+0.4%
Dividend per share
$0.75
$0.71
$0.68
+5.6%
Diluted shares, weighted
39m
41m
42m
-4.8%
Shares outstanding at period end
38m
38m
41m
-0.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
1,981
1,826
1,788
+8.5%
Debt
1,254
1,051
1,058
+19.4%
Operating lease liabilities
132
127
133
+4.0%
Finance lease liabilities
7.9
9.0
10.0
-12.2%
Other liabilities
1,074
1,090
1,032
-1.5%
Total liabilities and equity
4,450
4,104
4,021
+8.4%
Fixed assets
343
360
378
-4.8%
Goodwill
1,545
1,463
1,455
+5.6%
Intangible assets
621
538
610
+15.4%
Cash and equivalents
257
171
198
+50.3%
Receivables
725
647
589
+12.0%
Inventory
483
412
429
+17.4%
Other assets
477
513
363
-7.0%
Total assets
4,450
4,104
4,021
+8.4%
10-K for the year ended 31 December 2022, filed 20 February 2024: the filing.