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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%
Market cap
$2.7B
P/E
33.6×
Fwd P/E
32.7×
Dividend yield
—
F-score
7/9
Altman Z
4.46
Beneish M
−2.79
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.52
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 1 — — — — — — — — — —
Insider Ownership 18.13%

Capital & Financial Ratios $m

Market Cap 2,710.00
Revenue 942.09
Net Income 79.12
Free Cash Flow 60.68
Net Debt 301.30
Current Ratio 2.97 (at or above 1.5: strong)
Debt/Equity 1.57
P/E ratio 33.62
Fwd P/E 32.70
P/S ratio 2.83
P/B ratio 13.46 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 68.66% (at or above 15%: strong)
Next Y EPS Growth 15.25% (at or above 15%: strong)
Next Y revenue growth 19.70% (at or above 10%: strong)
Next 5Y EPS Growth (5.00%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.2×, against a ten-year median of 1.3×; over the ten years it ranged from 0.6× in 2020 to 4.0× in 2026.
P/E against its own 10 years 68.77%
10-year low 10-year high
P/S against its own 10 years 94.14%
10-year low 10-year high
P/B against its own 10 years 90.41%
10-year low 10-year high
EV/Sales against its own 10 years 93.91%
10-year low 10-year high
EV/FCF against its own 10 years 71.42%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 11 18 18 9
Receivables 172 191 205 229
Inventory 192 200 197 220
Other — — — —
390 426 438 486
2023 2024 2025 Q'26
Payables 61 43 41 64
ST’ Debt 9 — — —
Other — — — 27
143 156 141 163

Compound Annual Growth %

10y 5y 3y
Sales 2.22% 11.40% 17.25%
Cash Flow (0.48%) 14.91% 0.00%
Earnings (7.92%) 0.00% 0.00%
Book Value (7.34%) (12.32%) (16.42%)

Revenue $m

Mar Jun Sep Dec Year
’26 231 260 — — —
’25 206 205 211 240 862
’24 185 198 204 209 795
’23 157 174 163 195 689
’22 116 129 131 158 535
’21 106 111 112 116 445
’20 158 124 107 115 503
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 11 30 — — —
’25 21 (8) 34 28 75
’24 2 (6) 8 26 31
’23 (19) (2) (1) (2) (24)
’22 0 (11) (29) 11 (28)
’21 (7) 5 (16) 13 (6)
’20 23 18 (10) 6 37
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) 24 — — —
’25 19 (12) 21 16 43
’24 0 (8) 7 23 22
’23 (21) (4) (3) (3) (32)
’22 (1) (12) (31) 7 (36)
’21 (9) 3 (17) 12 (12)
’20 20 19 (12) 2 30
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.56 0.75 — — —
’25 0.22 0.03 (0.26) 0.65 0.68
’24 (0.07) 0.03 (0.28) (0.07) (0.38)
’23 (0.12) (0.31) (0.42) 0.17 (0.67)
’22 (0.08) (0.28) (0.38) (0.17) (0.92)
’21 (0.32) (0.22) (0.19) 0.04 (0.68)
’20 (1.81) (0.64) (0.14) (0.54) (3.13)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 14.53 16.17 22.00 20.63 5.03 7.93 5.95 7.92 11.28 12.36

Analyst estimates 2026–2028

Powerpack
High 27.70 29.84 33.39 35.39 23.23 16.70 11.87 17.91 18.95 45.27
People
People Employees 2,304 2,500 2,700 2,800 2,200 2,100 2,400 2,500 2,500 2,700
Revenue/emp, $m 0.27 0.25 0.30 0.28 0.23 0.21 0.22 0.28 0.32 0.32
Income, $m
Income, $m Revenue 633 624 803 773 503 445 535 689 795 862
Gross margin, % 25.19 21.96 22.50 20.21 19.27 14.69 13.37 25.32 27.71 29.94
EBT 69 25 52 68 (112) (27) (30) (26) (8) 32
EBT margin, % 10.86 4.00 6.51 8.84 (22.37) (6.06) (5.57) (3.82) (0.99) 3.71
Net income 48 20 47 52 (116) (26) (36) (26) (16) 29
Depreciation 26 27 35 33 32 29 28 29 28 25
Per share, $
Per share, $ Revenue 15.73 15.83 20.69 20.10 13.60 11.94 13.86 17.35 18.92 20.27
Earnings 1.38 0.58 1.21 1.35 (3.13) (0.68) (0.92) (0.67) (0.38) 0.69
Cash flow 1.21 0.96 1.41 1.11 1.01 (0.15) (0.73) (0.60) 0.73 1.76
Capex (0.32) (0.34) (0.42) (0.31) (0.20) (0.16) (0.20) (0.19) (0.20) (0.74)
Free cash flow 0.89 0.62 0.99 0.80 0.81 (0.31) (0.93) (0.80) 0.53 1.01
Book value 8.39 8.36 9.96 10.12 7.32 6.88 6.22 6.28 6.09 3.29
Shares, m 40 39 39 38 37 37 39 40 42 43
Valuation, ×
Valuation, × P/E 15.31 50.37 19.18 17.27 0.00 0.00 0.00 0.00 0.00 62.58
P/S 1.46 1.80 1.17 1.11 0.78 0.80 0.57 0.79 0.67 2.14
P/B 2.74 3.41 2.44 2.21 1.44 1.39 1.30 2.19 2.09 13.14
EV/Sales 1.67 2.21 1.45 1.31 1.05 1.12 0.84 1.02 0.86 2.50
EV/FCF 29.43 56.77 30.10 33.12 17.74 (42.99) (12.85) (22.26) 31.01 50.04
Cash, $m
Cash, $m Operating cash flow 49 38 55 43 37 (6) (28) (24) 31 75
Capex (13) (13) (16) (12) (7) (6) (8) (8) (8) (32)
Free cash flow 36 24 39 31 30 (12) (36) (32) 22 43
Balance, $m
Balance, $m Working capital 169 212 246 222 223 221 214 246 270 296
Total debt 148 272 234 188 180 170 164 168 169 334
Net debt 130 254 217 156 140 140 150 157 150 316
Shareholders’ equity 337 330 387 389 270 257 240 250 256 140
Returns, %
Returns, % ROA 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
ROE 15.19 5.90 13.06 13.42 (35.13) (9.71) (14.40) (10.80) (6.41) 14.82
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Astronics Corporation vs peers in Aerospace & Defense (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AIR AAR Corp. $4.0B 20.1× 26.3× +24.12% (above 0%: growing) +5.48% (above 0%: growing) +182.09% (above 0%: growing) 19.20% 7.85% Compare
MOG.B Moog Inc. $3.7B 31.0× — +15.16% (above 0%: growing) +153.97% (above 0%: growing) +67.52% (above 0%: growing) 31.10% 14.41% Compare
ACHR Archer Aviation Inc. $3.6B — (loss-making) — (loss-making) — n/m −51.76% (below 0%: shrinking) 14.00% (5,584.00%) Compare
FLY Firefly Aerospace, Inc. $3.2B — (loss-making) — (loss-making) +656.85% (above 0%: growing) n/m −185.28% (below 0%: shrinking) 20.29% (80.89%) Compare
LUNR Intuitive Machines, Inc. $2.9B — (loss-making) — (loss-making) +309.77% (above 0%: growing) n/m −197.16% (below 0%: shrinking) 17.40% (22.86%) Compare
ATRO Astronics Corporation $2.7B 34.2× 32.7× +27.01% (above 0%: growing) +2,362.46% (above 0%: growing) +299.44% (above 0%: growing) 33.43% 15.57%
DCO Ducommun Incorporated $2.6B — (loss-making) 38.6× +11.80% (above 0%: growing) +60.71% (above 0%: growing) +48.47% (above 0%: growing) 28.02% 12.62% Compare
RDW Redwire Corporation $2.3B — (loss-making) — (loss-making) +89.56% (above 0%: growing) n/m +62.22% (above 0%: growing) 27.80% (18.87%) Compare
VVX V2X, Inc. $2.2B 23.4× 24.6× +16.54% (above 0%: growing) +15.49% (above 0%: growing) −21.44% (below 0%: shrinking) 8.71% 4.28% Compare
Median of peers $3.1B 23.4× 26.3× +24.12% +38.10% +13.52% 19.75% (7.29%)

All 82 Aerospace & Defense stocks →

Astronics Corporation (ATRO) key facts

  • Strength: Astronics Corporation’s revenue for fiscal 2025 (year ended December 2025) was $862.1 million, up 8.39% from fiscal 2024.
  • Astronics Corporation (ATRO) is an Aerospace & Defense company in the Industrials sector, listed on Nasdaq.
  • As of October 14, 2026, ATRO traded at $62.04, a market capitalization of $2.7 billion.
  • Return on equity was 14.8% and debt-to-equity 1.57.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 4.46 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Astronics Corporation (ATRO) Latest News

3 Jun

Impact 5 ·
stockrow.com/ATRO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com