Saturday 17 October 2026 Export HWM’s income statement to Excel — free account

Howmet Aerospace Inc.

Howmet Aerospace Inc.’s revenue for fiscal 2025 (year ended December 2025) was $8.3 billion, up 11.1% from fiscal 2024. In the quarter to June 2026, revenue grew 24.1%, EPS grew 31.7%, free cash flow grew 38.0% and total debt rose 24.3%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years, revenue growth for three, operating cash flow growth for five.

220.96 1.26 +0.57%

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Market cap: $87.6B
P/E: 47.4×
Fwd P/E: 48.4×
Dividend yield: 0.23%
F-score: 8/9
Altman Z: 10.60
Beneish M: −2.55
Dividend safety: 78/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 22.92

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	2	—	—	1	—	—	—	—	—

Insider Ownership 1.41%

Capital & Financial Ratios $m

Market Cap 87,620.00

Revenue 9,117.00

Net Income 1,871.00

Free Cash Flow 2,017.00

Net Debt 3,488.00

Current Ratio 1.82

Debt/Equity 0.71

P/E ratio 47.42

Fwd P/E 48.40

P/S ratio 9.69

P/B ratio 15.42

Past 5Y EPS Growth 44.45%

This Y EPS Growth 41.70%

Next Y EPS Growth 21.88%

Next Y revenue growth 22.50%

Next 5Y EPS Growth 26.75%

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

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 66.99%

10-year low 10-year high

P/S against its own 10 years 90.12%

10-year low 10-year high

P/B against its own 10 years 90.90%

10-year low 10-year high

EV/Sales against its own 10 years 90.34%

10-year low 10-year high

EV/FCF against its own 10 years 45.13%

10-year low 10-year high

Dividends

Payout Ratio 0.11

Annual Dividend Rate 0.50

Annual Dividend Yield 0.23%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.52	0.12 0.12 0.14
2025	0.44	0.10 0.10 0.12 0.12
2024	0.26	0.05 0.05 0.08 0.08
2023	0.17	0.04 0.04 0.04 0.05
2022	0.10	0.02 0.02 0.02 0.04
2021	0.04	0.02 0.02
2020	0.02	0.02
2019	0.12	0.06 0.02 0.02 0.02
2018	0.24	0.06 0.06 0.06 0.06
2017	0.24	0.06 0.06 0.06 0.06
2016	0.16	0.02 0.02 0.02 0.09

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	610	564	742	563
Receivables	692	709	796	1,040
Inventory	1,765	1,840	1,849	2,183
Other	—	—	—	—
	3,316	3,362	3,779	4,193

	2023	2024	2025	Q'26
Payables	982	948	845	1,149
ST’ Debt	206	6	191	1
Other	200	111	121	134
	1,784	1,549	1,771	2,306

Compound Annual Growth %

	10y	5y	3y
Sales	(4.00%)	9.43%	13.37%
Cash Flow	1.76%	191.18%	36.98%
Earnings	0.00%	42.20%	47.74%
Book Value	(9.25%)	8.40%	14.13%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,313	2,547	—	—	—
’25	1,942	2,053	2,089	2,168	8,252
’24	1,824	1,880	1,835	1,891	7,430
’23	1,603	1,648	1,658	1,731	6,640
’22	1,324	1,393	1,433	1,513	5,663
’21	1,209	1,195	1,283	1,285	4,972
’20	1,634	1,253	1,134	1,238	5,259

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	453	583	—	—	—
’25	253	446	531	654	1,884
’24	177	397	244	480	1,298
’23	23	229	191	458	901
’22	55	158	65	455	733
’21	(6)	85	67	303	449
’20	(208)	31	35	151	9

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	584	479	—	—	—
’25	139	347	424	530	1,440
’24	102	343	163	378	986
’23	(41)	188	133	404	684
’22	(6)	155	23	426	598
’21	(61)	57	20	266	282
’20	(246)	(1)	(1)	104	(144)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.44	1.33	—	—	—
’25	0.84	1.00	0.95	0.92	3.71
’24	0.59	0.65	0.81	0.77	2.81
’23	0.35	0.46	0.45	0.57	1.83
’22	0.31	0.35	0.19	0.26	1.11
’21	0.18	0.17	0.06	0.18	0.59
’20	0.49	(0.22)	0.08	0.24	0.59

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	12.85	14.29	11.99	12.36	8.73	22.91	29.35	38.17	52.56	105.04	Analyst estimates 2026–2028 Powerpack
	High	17.36	23.54	23.90	24.53	28.76	36.03	39.78	54.53	120.71	212.52
People
People	Employees	41,500	41,500	43,000	41,700	19,700	19,900	21,400	23,200	23,930	25,430
	Revenue/emp, $m	0.30	0.31	0.16	0.17	0.27	0.25	0.26	0.29	0.31	0.32
Income, $m
Income, $m	Revenue	12,394	12,960	6,778	7,098	5,259	4,972	5,663	6,640	7,430	8,252
	Gross margin, %	21.77	21.13	24.55	26.54	26.26	27.67	27.55	28.12	31.10	34.17
	EBT	414	470	428	210	171	324	606	975	1,383	1,840
	EBT margin, %	3.34	3.63	6.31	2.96	3.25	6.52	10.70	14.68	18.61	22.30
	Net income	(878)	(74)	642	470	261	258	469	765	1,155	1,508
	Depreciation	1,132	1,270	576	536	338	270	265	272	277	283
Per share, $
Per share, $	Revenue	28.30	28.74	14.03	15.91	12.09	11.56	13.61	16.12	18.21	20.43
	Earnings	(2.28)	(0.28)	1.33	1.05	0.59	0.60	1.12	1.85	2.83	3.73
	Cash flow	0.22	(0.09)	0.45	1.03	0.02	1.04	1.76	2.19	3.18	4.66
	Capex	(0.99)	(1.34)	(0.95)	(1.21)	(0.35)	(0.39)	(0.32)	(0.53)	(0.76)	(1.10)
	Free cash flow	(0.77)	(1.43)	(0.50)	(0.17)	(0.33)	0.66	1.44	1.66	2.42	3.56
	Book value	11.74	10.92	11.56	10.33	8.22	8.16	8.66	9.80	11.16	13.25
	Shares, m	438	451	483	446	435	430	416	412	408	404
Valuation, ×
Valuation, ×	P/E	0.00	0.00	9.72	22.26	48.37	53.95	34.88	28.89	38.78	54.82
	P/S	0.52	0.74	0.45	1.15	2.35	2.75	2.87	3.33	6.01	10.04
	P/B	1.27	1.97	1.13	2.24	3.51	3.96	4.58	5.56	9.92	15.47
	EV/Sales	1.02	1.10	0.74	1.65	3.02	3.47	3.47	3.80	6.38	10.32
	EV/FCF	(37.50)	(22.20)	(42.57)	(190.24)	(110.20)	61.11	32.86	36.89	48.05	59.12
Cash, $m
Cash, $m	Operating cash flow	95	(39)	217	461	9	449	733	901	1,298	1,884
	Capex	(433)	(605)	(459)	(538)	(153)	(167)	(135)	(217)	(312)	(444)
	Free cash flow	(338)	(644)	(242)	(77)	(144)	282	598	684	986	1,440
Balance, $m
Balance, $m	Working capital	3,143	3,554	3,061	1,718	2,012	1,484	1,661	1,532	1,813	2,008
	Total debt	8,084	6,844	6,330	5,978	5,113	4,265	4,194	3,706	3,315	3,050
	Net debt	6,221	4,694	4,053	4,401	3,503	3,545	3,403	3,096	2,751	2,308
	Shareholders’ equity	5,141	4,924	5,585	4,605	3,577	3,508	3,601	4,037	4,554	5,353
Returns, %
Returns, %	ROA	(3.57)	(0.66)	3.48	2.58	1.79	2.36	4.56	7.38	11.01	13.88
	ROIC	5.25	3.12	5.03	4.02	5.53	6.63	8.20	10.54	13.97	16.69
	ROE	(10.54)	(2.55)	12.52	9.29	6.42	7.34	13.34	20.27	27.19	30.57

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
BA The Boeing Company	$149.2B	71.2×	468×	+7.96% (above 0%: growing)	n/m	+417.59% (above 0%: growing)	9.83%	0.64%	Compare
LMT Lockheed Martin Corporation	$122.9B	20.3×	17.5×	+10.51% (above 0%: growing)	+446.58% (above 0%: growing)	+2,044.67% (above 0%: growing)	12.19%	12.36%	Compare
GD General Dynamics Corporation	$91.2B	20.7×	20.8×	+8.07% (above 0%: growing)	+13.49% (above 0%: growing)	+17.57% (above 0%: growing)	15.49%	10.36%	Compare
HWM Howmet Aerospace Inc.	$87.6B	47.4×	48.4×	+24.06% (above 0%: growing)	+31.68% (above 0%: growing)	+38.04% (above 0%: growing)	37.34%	27.92%
NOC Northrop Grumman Corporation	$71.0B	16.5×	19.5×	+5.07% (above 0%: growing)	−5.75% (below 0%: shrinking)	+53.53% (above 0%: growing)	19.50%	10.08%	Compare
TDG Transdigm Group Incorporated	$62.7B	34.6×	35.3×	+22.53% (above 0%: growing)	+10.86% (above 0%: growing)	+13.44% (above 0%: growing)	59.39%	44.76%	Compare
LHX L3Harris Technologies Inc	$44.8B	25.0×	26.5×	+8.39% (above 0%: growing)	+28.57% (above 0%: growing)	+37.43% (above 0%: growing)	25.54%	11.12%	Compare
HEI Heico Corporation	$36.7B	51.0×	55.0×	+23.13% (above 0%: growing)	+33.07% (above 0%: growing)	+47.74% (above 0%: growing)	41.12%	25.14%	Compare
HEI.A Heico Corporation	$36.6B	38.3×	55.0×	+23.13% (above 0%: growing)	+33.07% (above 0%: growing)	+47.74% (above 0%: growing)	41.12%	25.14%	Compare
Median of peers	$66.8B	29.8×	30.9×	+9.45%	+28.57%	+47.74%	22.52%	11.74%

All 82 Aerospace & Defense stocks →

Howmet Aerospace Inc. (HWM) key facts

Strength: Howmet Aerospace Inc.’s revenue for fiscal 2025 (year ended December 2025) was $8.3 billion, up 11.1% from fiscal 2024.
Howmet Aerospace Inc. (HWM) is an Aerospace & Defense company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, HWM traded at $220.96, a market capitalization of $87.6 billion.
Howmet Aerospace Inc. pays an annual dividend of $0.50 per share, a yield of 0.23%, with a payout ratio of 10.8%.
Return on equity was 30.6% and debt-to-equity 0.71.
Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 10.60 (safe zone) for fiscal 2025.