Wednesday 14 October 2026
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Astronics Corporation
ATRO Industrials Aerospace & Defense
Astronics Corporation’s revenue for fiscal 2025 (year ended December 2025) was $862.1 million, up 8.39% from fiscal 2024. In the quarter to June 2026, revenue grew 27.0%, EPS grew 2,362.5%, free cash flow grew 299.4% and total debt rose 94.8%, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three.
62.04
1.07
−1.70%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
15.31 | 50.37 | 19.18 | 17.27 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 62.58 |
Piotroski F-Score |
5 | 5 | 8 | 5 | 4 | 3 | 3 | 6 | 6 | 7 |
P/S ratio |
1.46 | 1.80 | 1.17 | 1.11 | 0.78 | 0.80 | 0.57 | 0.79 | 0.67 | 2.14 |
Altman Z-Score |
4.57 | 3.59 | 3.83 | 3.41 | 2.08 | 2.28 | 2.18 | 2.85 | 3.09 | 4.46 |
P/FCF ratio |
25.80 | 46.32 | 24.46 | 28.02 | 13.06 | 0.00 | 0.00 | 0.00 | 24.20 | 42.70 |
Altman Z″-Score (non-manufacturers) |
5.64 | 4.48 | 5.27 | 4.70 | 3.73 | 4.37 | 3.90 | 4.24 | 4.66 | 4.74 |
Beneish M-Score |
(2.26) | (2.41) | (2.27) | (2.48) | (4.11) | (2.36) | (2.22) | (2.58) | (2.82) | (2.79) |
P/Operating CF |
38.98 | 72.78 | 23.87 | 68.88 | 67.03 | 27.53 | 28.83 | (326.29) | 20.28 | 66.65 |
P/B ratio |
2.74 | 3.41 | 2.44 | 2.21 | 1.44 | 1.39 | 1.30 | 2.19 | 2.09 | 13.14 |
Price to Tangible BV |
7.44 | 22.17 | 7.35 | 7.35 | 3.82 | 3.43 | 3.05 | 4.34 | 3.68 | 84.47 |
EV/Sales |
1.67 | 2.21 | 1.45 | 1.31 | 1.05 | 1.12 | 0.84 | 1.02 | 0.86 | 2.50 |
EV/EBITDA |
10.47 | 23.32 | 11.76 | 29.17 | 0.00 | 1,502.02 | 0.00 | 31.31 | 12.68 | 21.31 |
EV/Operating CF |
21.58 | 36.52 | 21.15 | 23.75 | 14.19 | (89.90) | (16.33) | (29.36) | 22.46 | 28.85 |
EV/FCF |
29.43 | 56.77 | 30.10 | 33.12 | 17.74 | (42.99) | (12.85) | (22.26) | 31.01 | 50.04 |
Quick Ratio |
1.47 | 1.46 | 1.55 | 1.49 | 1.42 | 1.16 | 1.07 | 1.28 | 1.34 | 1.58 |
Current Ratio |
2.95 | 3.06 | 2.92 | 2.84 | 3.38 | 2.87 | 2.41 | 2.72 | 2.73 | 3.10 |
Net Debt/EBITDA |
1.29 | 4.29 | 2.20 | 4.50 | (2.03) | 423.24 | (66.26) | 6.99 | 2.78 | 3.12 |
Debt/Assets |
24.51% | 36.93% | 30.21% | 24.05% | 29.06% | 27.88% | 26.67% | 26.54% | 26.00% | 47.33% |
Debt/Equity |
0.44 | 0.82 | 0.61 | 0.48 | 0.67 | 0.66 | 0.68 | 0.67 | 0.66 | 2.39 |
Asset Turnover |
1.04 | 0.93 | 1.06 | 0.99 | 0.72 | 0.72 | 0.87 | 1.10 | 1.24 | 1.27 |
Operating CF/Net income |
1.01 | 1.92 | 1.17 | 0.82 | (0.32) | 0.22 | 0.79 | 0.91 | (1.88) | 2.55 |
Capex/Depreciation |
(0.51) | (0.50) | (0.47) | (0.37) | (0.23) | (0.21) | (0.28) | (0.26) | (0.30) | (1.27) |
Interest Coverage |
17.20 | 5.98 | 6.56 | 0.28 | (14.94) | (4.21) | (3.19) | (0.29) | 1.20 | 6.08 |
| 15.19% | 5.90% | 13.06% | 13.42% | (35.13%) | (9.71%) | (14.40%) | (10.80%) | (6.41%) | 14.82% | |
| 7.98% | 2.94% | 6.20% | 6.68% | (16.51%) | (4.16%) | (5.84%) | (4.23%) | (2.53%) | 4.33% | |
ROIC |
10.01% | 3.44% | 6.59% | 0.20% | (15.35%) | (4.52%) | (4.81%) | (1.03%) | 4.07% | 10.47% |
Return on Tangible Assets |
16.62% | 5.82% | 12.75% | 15.53% | (35.10%) | (8.08%) | (11.75%) | (7.96%) | (4.62%) | 7.28% |
Average Days of Receivables |
63.08 | 77.52 | 82.84 | 69.91 | 67.58 | 88.14 | 100.85 | 91.15 | 87.85 | 86.65 |
Research and Development Expense of Revenue |
14.25% | 15.21% | 14.23% | 14.09% | 17.27% | 19.17% | 9.03% | 7.80% | 6.55% | 5.04% |
Selling, General and Administrative Expense of Revenue |
13.36% | 14.22% | 14.57% | 18.55% | 21.99% | 22.26% | 18.99% | 18.49% | 17.84% | 16.04% |
Intangible Assets out of Total Assets |
0.35 | 0.38 | 0.33 | 0.35 | 0.27 | 0.25 | 0.22 | 0.20 | 0.17 | 0.17 |
Share Based Compensation of Revenue |
0.36% | 0.42% | 0.39% | 0.50% | 1.03% | 1.45% | 1.21% | 1.04% | 1.08% | 0.79% |
Graham Net Nets |
(0.01) | (0.08) | (0.01) | (0.06) | (0.08) | (0.04) | (0.03) | 0.01 | 0.06 | (0.07) |
Graham Number |
16.82 | 10.33 | 16.85 | 17.15 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7.16 |
Earnings Yield |
6.53% | 1.99% | 5.21% | 5.79% | (29.67%) | (7.22%) | (11.43%) | (4.97%) | (3.07%) | 1.60% |
Free Cash Flow Yield |
3.88% | 2.16% | 4.09% | 3.57% | 7.66% | (3.24%) | (11.53%) | (5.78%) | 4.13% | 2.34% |
Revenue per Share |
15.73 | 15.83 | 20.69 | 20.10 | 13.60 | 11.94 | 13.86 | 17.35 | 18.92 | 20.27 |
Operating CF per Share |
1.21 | 0.96 | 1.41 | 1.11 | 1.01 | (0.15) | (0.73) | (0.60) | 0.73 | 1.76 |
Capex per Share |
(0.32) | (0.34) | (0.42) | (0.31) | (0.20) | (0.16) | (0.20) | (0.19) | (0.20) | (0.74) |
Free Cash Flow per Share |
0.89 | 0.62 | 0.99 | 0.80 | 0.81 | (0.31) | (0.93) | (0.80) | 0.53 | 1.01 |
Cash per Share |
0.44 | 0.45 | 0.43 | 0.83 | 1.09 | 0.80 | 0.36 | 0.28 | 0.44 | 0.43 |
Shareholders Equity per Share |
8.39 | 8.36 | 9.96 | 10.12 | 7.32 | 6.88 | 6.22 | 6.28 | 6.09 | 3.29 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
8.39 | 8.36 | 9.96 | 10.12 | 7.32 | 6.88 | 6.22 | 6.28 | 6.09 | 3.29 |
Free Cash Flow |
35.82 | 24.31 | 38.56 | 30.61 | 29.88 | (11.56) | (35.99) | (31.59) | 22.14 | 43.12 |
Working Capital |
168.51 | 212.44 | 246.08 | 222.44 | 223.21 | 221.25 | 213.68 | 246.45 | 270.02 | 296.46 |
Capital Expenditures |
(13.04) | (13.48) | (16.32) | (12.08) | (7.46) | (6.03) | (7.67) | (7.64) | (8.43) | (31.67) |
Net Current Asset Value |
(11.82) | (90.70) | (13.84) | (50.78) | (32.43) | (12.67) | (9.82) | 5.51 | 33.51 | (128.86) |
EV/EBIT |
14.08 | 42.98 | 18.23 | 595.99 | 0.00 | 0.00 | 0.00 | 0.00 | 25.94 | 28.24 |
Capex to Sales |
0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 |
Price to Operating Income |
12.34 | 35.07 | 14.82 | 504.09 | 0.00 | 0.00 | 0.00 | 0.00 | 20.24 | 24.10 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.21 | 0.22 | 0.29 | 0.29 | 0.30 | 0.30 | 0.31 | 0.34 | 0.34 | 0.23 |
Cash ROIC |
7.11% | 3.92% | 6.05% | 5.03% | 6.09% | (2.53%) | (8.62%) | (7.36%) | 5.00% | 8.75% |
Accounts Receivable Turnover |
6.19 | 5.16 | 5.10 | 4.68 | 4.17 | 4.44 | 4.19 | 4.31 | 4.38 | 4.35 |
Accounts Payable Turnover |
18.15 | 14.57 | 13.46 | 14.25 | 13.03 | 12.38 | 9.36 | 8.21 | 11.05 | 14.37 |
Inventory Turnover |
4.08 | 3.65 | 4.31 | 4.33 | 2.68 | 2.41 | 2.68 | 2.71 | 2.94 | 3.05 |
Average Days of Payables |
19.32 | 31.34 | 29.70 | 21.22 | 23.79 | 33.52 | 50.57 | 43.36 | 27.27 | 24.83 |
Days of Inventory on Hand |
89.85 | 112.49 | 81.31 | 86.31 | 141.29 | 151.54 | 148.08 | 136.02 | 126.79 | 118.97 |
Average Receivables |
102.35 | 121.02 | 157.47 | 165.15 | 120.53 | 100.25 | 127.61 | 159.95 | 181.78 | 198.06 |
Average Payables |
26.10 | 33.46 | 46.26 | 43.25 | 31.14 | 30.65 | 49.53 | 62.66 | 52.05 | 42.02 |
Average Inventory |
116.03 | 133.40 | 144.44 | 142.24 | 151.42 | 157.32 | 172.78 | 189.89 | 195.77 | 198.30 |
Average Assets |
606.79 | 670.15 | 755.30 | 778.68 | 701.23 | 614.44 | 612.08 | 624.41 | 641.28 | 677.72 |
Average Common Equity |
318.84 | 333.69 | 358.28 | 387.74 | 329.61 | 263.49 | 248.26 | 244.72 | 252.81 | 198.09 |
Columns are period end dates