WWD · CIK 108312
What Woodward, Inc. told the SEC could break it.
Woodward's flagged risks are the input and trade exposures of a precision component and control-systems maker. Aluminum, iron and steel are the primary raw materials for its mechanical components, so metals-price moves — and the tariffs now covering some of those inputs — feed into its margins. U.S. and foreign tariffs levied in fiscal 2025 also hit some of its products directly, and U.S.-China trade policy weighs on its already sharply declining China on-highway natural-gas truck business; and in some cases it depends on a single source of supply or participates in commodity markets where suppliers allocate limited supplies, risking parts or raw-material shortages.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Commodity & input dependence
- aluminum, iron, steelmedium
Aluminum, iron and steel are the primary raw materials for Woodward's mechanical components, exposing margins to metals-price moves and tariff inclusion.
“Aluminum, iron, and steel are primary raw materials used to produce our mechanical components.”
Regulatory & policy
- tariffs on products and inputs; US-China trade policymedium
US and foreign tariffs levied in FY2025 include some of Woodward's products and its raw-material inputs; US-China trade policy also weighs on its (already sharply declining) China on-highway natural-gas truck business.
“The United States and other countries have levied tariffs and taxes on certain goods, including during our fiscal year 2025. Some of our products are included in these tariffs, and certain commodities, raw materials, and other manufacturing inputs that we require are also included.”
Sole-source dependency
- single-source supply / allocated commodity marketsmedium
In some instances Woodward depends on a single source of supply, manufacturing or logistics, or participates in commodity markets subject to supplier allocation of limited supplies, risking parts/raw-material shortages.
“In some instances, we depend upon a single source of supply, manufacturing, or logistics support or participate in commodity markets that may be subject to allocations of limited supplies by suppliers.”
SEC filing →As of 2025
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
“We have significant content on a wide variety of commercial aircraft, rotorcraft, and business jet platforms, such as the Airbus A320neo, Boeing 737 MAX, Boeing 787, Bell 429, and Bombardier Global 7500.”
Cited →Airbus SE
“We have significant content on a wide variety of commercial aircraft, rotorcraft, and business jet platforms, such as the Airbus A320neo, Boeing 737 MAX, Boeing 787, Bell 429, and Bombardier Global 7500.”
Cited →
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