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Friday 6 November 2026
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ATS Corporation
ATS Industrials Specialty Industrial Machinery
ATS Corporation’s revenue for fiscal 2026 (year ended March 2026) was $2.2 billion, up 18.2% from fiscal 2025.
- Revenue
- −10.0%
- EPS
- −114.7%
- Free cash flow
- −117.8%
- Total debt
- −8.77%
Quarter to September 2026, against a year earlier
16.98
0.34
−1.96%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to March
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Sep ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | 936 | 998 | 1,134 | 1,741 | 1,950 | 2,248 | 1,821 | 2,152 | 2,067 | +12.6% | 2,039 | 2,124 | 2,239 | +1.3% | |
| Gross margin, % | — | — | 24.40 | 22.85 | 23.58 | 28.06 | 28.16 | 28.21 | 25.53 | 28.62 | 27.64 | +4.2 pt | ||||||
| EBT | — | — | 70 | 48 | 63 | 123 | 121 | 183 | (60) | 72 | 15 | +0.3% | ||||||
| EBT margin, % | — | — | 7.50 | 4.77 | 5.53 | 7.07 | 6.20 | 8.13 | (3.27) | 3.34 | 0.72 | (4.2) pt | ||||||
| Net income | — | — | 53 | 37 | 51 | 97 | 97 | 144 | (20) | 52 | 6 | (0.3%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 9.96 | 10.85 | 12.33 | 18.89 | 21.23 | 23.00 | 18.58 | 21.98 | 21.21 | +12.0% | |||||
| Earnings | — | — | 0.57 | 0.40 | 0.56 | 1.05 | 1.04 | 1.47 | (0.21) | 0.53 | 0.06 | (1.0%) | ||||||
| Cash flow | — | — | 1.01 | 0.15 | 1.60 | 1.87 | 1.05 | 0.16 | 0.19 | 3.32 | 2.47 | +18.5% | ||||||
| Capex | — | — | 0.00 | 0.00 | 0.00 | (0.45) | (0.65) | (0.49) | (0.53) | (0.56) | (0.55) | n/m | ||||||
| Free cash flow | — | — | 1.01 | 0.15 | 1.60 | 1.42 | 0.40 | (0.34) | (0.34) | 2.75 | 1.93 | +15.4% | ||||||
| Book value | — | — | 6.26 | 6.60 | 7.72 | 8.53 | 9.31 | 12.77 | 12.54 | 13.16 | 12.73 | +11.2% | ||||||
| Shares, m | — | — | 94 | 92 | 92 | 92 | 92 | 98 | 98 | 98 | 98 | +0.6% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 39.21 | 39.21 | 39.21 | 39.21 | 39.21 | 23.03 | 0.00 | 53.21 | 276.55 | 34.0 | |||||
| P/S | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 1.96 | 1.46 | 1.34 | 1.28 | 0.80 | 0.8 | ||||||
| P/B | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 4.47 | 2.63 | 1.99 | 2.14 | 1.33 | 1.4 | ||||||
| EV/Sales | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 2.38 | 1.82 | 1.90 | 1.66 | 1.20 | 1.0 | ||||||
| EV/FCF | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 125.07 | (124.15) | (103.00) | 13.22 | 13.20 | (11.1) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | 95 | 14 | 147 | 172 | 97 | 15 | 19 | 325 | 241 | +19.1% | |||||
| Capex | — | — | (31) | (40) | (25) | (42) | (60) | (48) | (52) | (55) | (53) | +8.8% | ||||||
| Free cash flow | — | — | 95 | 14 | 147 | 131 | 37 | (33) | (34) | 270 | 188 | +16.0% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | 223 | 365 | 211 | 240 | 309 | 537 | 561 | 484 | 441 | +11.7% | |||||
| Net debt | — | — | 93 | 214 | 252 | 753 | 809 | 805 | 1,017 | 803 | 824 | +36.2% | ||||||
| Shareholders’ equity | — | — | 589 | 607 | 710 | 786 | 855 | 1,248 | 1,229 | 1,288 | 1,241 | +11.8% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | 0.00 | 2.72 | 3.16 | 4.64 | 3.76 | 5.03 | (0.63) | 1.60 | 0.20 | +1.6 pt | |||||
| ROIC | — | — | 0.00 | 0.00 | 0.00 | 6.04 | 6.32 | 7.12 | 0.19 | 4.30 | 2.47 | +4.3 pt | ||||||
| ROE | — | — | 0.00 | 6.20 | 7.71 | 13.02 | 11.74 | 13.65 | (1.63) | 4.12 | 0.49 | +4.1 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 6,000 | 6,500 | 7,000 | 7,500 | 7,000 | — | +3.9% | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.00 | 0.00 | 0.29 | 0.30 | 0.32 | 0.24 | 0.31 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026
ATS Corporation vs peers in Specialty Industrial Machinery (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 |
|---|---|---|---|---|---|---|---|---|---|
| EPAC Enerpac Tool Group Corp. | $2.0B | 22.8× | 20.3× | +10.87% (above 0%: growing) | −7.69% (below 0%: shrinking) | +10.03% (above 0%: growing) | 47.07% | 18.48% | Compare |
| HLIO Helios Technologies, Inc | $2.0B | 27.9× | 28.1× | +9.13% (above 0%: growing) | +94.12% (above 0%: growing) | −2.29% (below 0%: shrinking) | 34.58% | 14.01% | Compare |
| SMR NuScale Power Corporation | $1.9B | — (loss-making) | — (loss-making) | −96.59% (below 0%: shrinking) | n/m | +85.67% (above 0%: growing) | 47.33% | (23,067.62%) | Compare |
| MFP Midera Food Processing, Inc | $1.9B | — | — | — | — | — | 35.33% | 9.66% | Compare |
| GRC Gorman-Rupp Company (The) | $1.8B | 24.4× | 24.8× | +11.82% (above 0%: growing) | +99.98% (above 0%: growing) | +27.49% (above 0%: growing) | 33.39% | 17.54% | Compare |
| ATS ATS Corporation | $1.7B | 50.0× | 37.7× | −5.93% (below 0%: shrinking) | n/m | −117.83% (below 0%: shrinking) | 27.38% | 3.49% | |
| EROC ERock, Inc. | $1.5B | — | — | — | n/m | — | 21.92% | (49.77%) | Compare |
| TNC Tennant Company | $1.2B | 51.2× | 27.8× | +6.26% (above 0%: growing) | +42.41% (above 0%: growing) | −78.15% (below 0%: shrinking) | 42.29% | 9.68% | Compare |
| AMSC American Superconductor Corporation | $1.2B | 7.8× | 53.4× | +42.78% (above 0%: growing) | −45.45% (below 0%: shrinking) | +68.38% (above 0%: growing) | 28.21% | 5.70% | Compare |
| Median of peers | $1.8B | 24.4× | 27.8× | +10.00% | +42.41% | +18.76% | 34.96% | 9.67% |