Friday 6 November 2026 Export ATI’s income statement to Excel — free account

ATI Inc.

ATI Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.6 billion, up 5.16% from fiscal 2024.

Revenue: +26.5%
EPS: +77.5%
Free cash flow: −59.0%
Total debt: −2.59%

Quarter to September 2026, against a year earlier

Revenue growth 3 yrs

169.43 9.66 −5.39%

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Market cap: $22.9B
P/E: 41.3×
Fwd P/E: 34.0×
Dividend yield: —
F-score: 8/9
Altman Z: 4.84
Beneish M: −2.72
Dividend safety: 62/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

ATI Inc. (ATI) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
HPMC	2,664	58.08%
AA&S	2,346	51.14%
Gross margin		21.95%
Operating margin		13.97%
Pre-tax margin		11.39%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2013	FY2012	FY2011	FY2010	FY2009
HPMC	2,664 58.08%	2,526 57.91%	2,302 55.15%	1,816 47.33%	1,248 44.59%	1,235 41.43%	2,054 49.83%	2,039 50.39%	2,127 60.34%	1,980 63.15%	—	—	—	—	—
AA&S	2,346 51.14%	2,359 54.07%	2,337 55.99%	2,434 63.44%	1,762 62.95%	1,948 65.31%	2,392 58.03%	2,302 56.90%	—	—	—	—	—	—	—
Flat-Rolled Products	—	—	—	—	—	—	—	—	1,528 43.33%	1,261 40.22%	2,099 51.90%	2,353 50.42%	2,731 56.76%	2,339 57.77%	1,516 49.63%
High Performance Metals	—	—	—	—	—	—	—	—	—	—	1,945 48.10%	2,314 49.58%	2,081 43.24%	1,338 33.04%	1,300 42.55%
Engineered Products	—	—	—	—	—	—	—	—	—	—	—	—	—	372 9.19%	239 7.82%
Eliminations	(423) (9.23%)	(523) (11.99%)	(465) (11.15%)	(413) (10.78%)	(211) (7.53%)	(201) (6.73%)	(324) (7.86%)	(295) (7.29%)	(129) (3.67%)	(106) (3.37%)	—	—	—	—	—
Revenue	4,587	4,362	4,174	3,836	2,800	2,982	4,123	4,047	3,525	3,135	4,044	4,667	4,812	4,048	3,055

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2013	FY2012	FY2011	FY2010
United States	2,640 57.54%	2,525 57.89%	2,251 53.93%	2,219 57.84%	1,535 54.82%	1,809 60.67%	2,455 59.54%	2,348 58.03%	2,071 58.74%	1,858 59.26%	2,458 60.80%	2,961 63.45%	3,103 64.48%	2,764 68.28%
Rest of World	703 15.32%	676 15.50%	757 18.14%	602 15.70%	498 17.77%	452 15.15%	812 19.69%	491 12.13%	443 12.56%	407 12.98%	—	—	—	—
China	324 7.07%	300 6.87%	333 7.99%	352 9.17%	370 13.23%	316 10.58%	356 8.63%	320 7.91%	266 7.53%	214 6.83%	238 5.88%	255 5.47%	260 5.40%	235 5.79%
United Kingdom	277 6.04%	258 5.91%	259 6.21%	218 5.68%	154 5.50%	127 4.24%	174 4.22%	242 5.98%	232 6.57%	184 5.86%	252 6.22%	304 6.51%	233 4.85%	118 2.92%
France	246 5.37%	228 5.22%	219 5.26%	157 4.10%	59 2.09%	85 2.85%	—	184 4.54%	166 4.70%	143 4.55%	153 3.78%	157 3.36%	168 3.49%	94 2.33%
Germany	227 4.96%	260 5.95%	243 5.82%	201 5.24%	121 4.33%	125 4.21%	219 5.32%	247 6.11%	217 6.16%	178 5.67%	215 5.33%	256 5.49%	242 5.04%	184 4.54%
Canada	170 3.69%	116 2.66%	111 2.66%	87 2.28%	—	69 2.31%	106 2.58%	—	—	—	141 3.49%	135 2.89%	126 2.62%	109 2.69%
Mexico	—	—	—	—	63 2.26%	—	—	—	—	—	55 1.36%	49 1.06%	62 1.28%	57 1.40%
Hong Kong	—	—	—	—	—	—	1 0.03%	—	—	—	—	—	—	—
Japan	—	—	—	—	—	—	—	215 5.31%	132 3.74%	152 4.85%	125 3.08%	94 2.01%	169 3.50%	28 0.70%
Other Countries	—	—	—	—	—	—	—	—	—	—	275 6.80%	320 6.85%	312 6.48%	284 7.01%
Italy	—	—	—	—	—	—	—	—	—	—	132 3.27%	136 2.92%	137 2.85%	176 4.34%
Revenue	4,587	4,362	4,174	3,836	2,800	2,982	4,123	4,047	3,525	3,135	4,044	4,667	4,812	4,048

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Managed working capital as a percent of annualized sales	Q3 FY2026	32.9%	36.4%	—
Remaining performance obligations	Q3 FY2026	$4.3B	$3.6B	+19.44%

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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.