Astronics Corporation (ATRO) vs Redwire Corporation (RDW)

Astronics Corporation and Redwire Corporation are both Aerospace & Defense companies. Astronics Corporation and Redwire Corporation are of similar size ($3.0B and $3.0B). Redwire Corporation has negative trailing earnings, so its P/E is not meaningful; Astronics Corporation trades at 37.5×. Redwire Corporation grew revenue faster over the last twelve months: 63.1% against 14.5%. Astronics Corporation has the higher net margin (8.40% vs −60.7%) and the higher return on invested capital (15.8% vs −12.0%). Across the 18 metrics below, Astronics Corporation leads on 12 and Redwire Corporation on 6.

Valuation

Metric ATRO RDW Aerospace & Defense median
P/E 37.52 n/m 33.00
P/S 3.16 6.01 3.63
P/B 15.02 1.57 3.24
Price to free cash flow 49.06 n/m 34.01
EV/EBITDA 21.52 n/m 18.69
EV/Sales 3.48 4.82 3.94
Earnings yield 2.67% (12.56%) 1.31%
Free cash flow yield 2.04% (4.14%) 0.00%

Profitability

Metric ATRO RDW Aerospace & Defense median
Gross margin 32.54% 20.10% 25.48%
Operating margin 13.40% (50.50%) 4.54%
Net margin 8.40% (60.67%) 2.22%
Free cash flow margin 6.44% (24.86%) 0.00%
Return on equity 33.68% (20.38%) 6.43%
Return on assets 11.24% (14.99%) 2.70%
Return on invested capital 15.79% (12.00%) 1.56%

Growth

Metric ATRO RDW Aerospace & Defense median
Revenue growth (TTM) 14.49% 63.10% 18.43%
EPS growth (last fiscal year) 276.10% 2.98% —
Revenue growth, 5-year CAGR 11.40% 42.32% 9.62%
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 0.24
Current ratio 2.97 3.92 2.72
Net debt to EBITDA 3.12 0.04 1.12

Dividend

Metric ATRO RDW Aerospace & Defense median
Dividend yield — — 1.04%
Payout ratio 0.00 0.00 0.00

Size

Metric ATRO RDW Aerospace & Defense median
Market cap 2.99b 2.96b 2.52b

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