Astronics Corporation (ATRO) vs Redwire Corporation (RDW)

Astronics Corporation and Redwire Corporation are both Aerospace & Defense companies. Astronics Corporation is the larger, with a market value of $2.3B against $1.6B — 1.5× the size. Redwire Corporation has negative trailing earnings, so its P/E is not meaningful; Astronics Corporation trades at 28.7×. Redwire Corporation grew revenue faster over the last twelve months: 45.8% against 14.5%. Astronics Corporation has the higher net margin (8.40% vs −55.3%) and the higher return on invested capital (15.8% vs −10.7%). Across the 18 metrics below, Astronics Corporation leads on 11 and Redwire Corporation on 7.

Valuation

Metric ATRO RDW Aerospace & Defense median
P/E 28.68 n/m 28.48
P/S 2.42 3.60 2.95
P/B 11.48 0.97 2.68
Price to free cash flow 37.50 n/m 31.70
EV/EBITDA 16.92 n/m 16.85
EV/Sales 2.74 2.58 2.74
Earnings yield 3.49% (20.29%) 0.89%
Free cash flow yield 2.67% (9.31%) 0.00%

Profitability

Metric ATRO RDW Aerospace & Defense median
Gross margin 32.54% 24.10% 26.41%
Operating margin 13.40% (46.23%) 3.69%
Net margin 8.40% (55.33%) 2.74%
Free cash flow margin 6.44% (33.46%) 0.00%
Return on equity 33.68% (18.84%) 4.44%
Return on assets 11.24% (14.29%) 1.90%
Return on invested capital 15.79% (10.68%) 0.26%

Growth

Metric ATRO RDW Aerospace & Defense median
Revenue growth (TTM) 14.49% 45.83% 18.03%
EPS growth (last fiscal year) 276.10% 2.98% 24.80%
Revenue growth, 5-year CAGR 11.40% 42.32% 9.73%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ATRO RDW Aerospace & Defense median
Debt to equity 1.57 0.03 0.20
Current ratio 2.97 4.20 2.85
Net debt to EBITDA 3.12 0.04 1.29

Dividend

Metric ATRO RDW Aerospace & Defense median
Dividend yield — — 0.91%
Payout ratio — — 0.30

Size

Metric ATRO RDW Aerospace & Defense median
Market cap 2.28b 1.55b 1.78b

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