Astronics Corporation logo ATRO - Astronics Corporation

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HOLD 1
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| PRICE TARGET: $107.00 DETAILS
HIGH: $107.00
LOW: $107.00
MEDIAN: $107.00
CONSENSUS: $107.00
UPSIDE: 32.33%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Revenue
Revenue 862.1 795.4 689.2 534.9 444.9 502.6 772.7 803.3 624.5 633.1 692.3 661.0 339.9 266.4 228.2 51.8 191.2 173.7 158.2 110.8 75.4 34.7 33.2 42.9 85.4 72.0 50.6 46.1 41 38.4 28.5 24.9 24
Cost of Revenue 604.0 627.1 568.4 463.4 379.5 405.7 616.6 622.6 487.4 473.7 504.3 494.0 252.1 197.0 167.7 39.4 153.9 143.2 117.4 87.5 59.9 30.1 26.4 30.7 64.0 48.5 32.4 28.1 24.7 24.7 17.4 15 13.7
Gross Profit 258.2 168.3 120.8 71.5 65.4 96.8 156.1 180.7 137.1 159.5 187.9 167.0 87.9 69.4 60.5 12.4 37.3 30.5 40.9 23.2 15.5 4.6 6.7 12.2 21.3 23.4 18.2 18 16.3 13.7 11.1 9.9 10.3
Operating Expenses
R&D Expenses 43.5 0 0 0 0 0 0 114.3 95 90.2 90.3 76.7 52.8 44.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 121.2 141.9 127.5 101.6 99.1 110.5 143.4 117.0 90.5 86.3 89.1 79.7 45.6 36.8 27.2 6.0 24.1 17.4 16.4 13.6 10.2 5.5 5.5 5.6 10.9 9.6 7.4 7.8 7.5 8 5.1 4.9 4.5
Other Expenses 17.0 0 0 0 (5.0) 87.0 11.1 (1.7) (2.9) (2.0) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4.2 3.7 3.1 2.8 2.6 2.6 2.5 2.5
Operating Expenses 181.7 141.9 127.5 101.6 94.0 197.5 154.4 117.0 90.5 86.3 89.1 79.7 45.6 36.8 27.2 6.0 24.1 17.4 16.4 13.6 10.2 5.5 5.5 5.6 10.9 13.8 11.1 10.9 10.3 10.6 7.7 7.4 7
Operating Income
Operating Income 76.4 26.5 (6.7) (30.0) (28.7) (100.7) 1.7 63.7 30.4 73.1 98.8 87.4 42.3 32.6 30.8 6.4 (6.2) 13.1 24.5 9.7 5.3 (0.9) 1.2 6.6 10.5 9.6 7.1 7.1 6 3.1 3.4 2.5 3.3
Interest Expense 12.6 0 0 0 0 6.7 6.1 9.7 5.4 4.4 4.8 8.3 4.1 1.0 1.9 2.6 2.6 0.7 1.4 0.9 0.8 0.4 0.4 0.2 0.5 0.7 0 0.4 0 0.8 0.5 0.5 0.9
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.1 0.2 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 98.2 50.9 19.4 (2.3) (4.7) 18.2 45.8 98.7 30.4 99.0 124.1 114.6 53.4 39.5 38.3 29.3 2.2 17.1 27.9 12.6 7.0 0.4 2.5 7.9 14.9 13.9 10.8 10.2 8.8 5.7 6 5 5.8
EBIT 76.4 26.5 (6.7) (30.0) (33.7) (13.7) 12.8 63.7 30.4 74.9 97.0 87.4 42.3 32.5 33.3 24.4 (5.2) 13.0 24.4 9.7 4.6 (0.9) 1.2 6.6 9.3 6.2 7.1 7.1 6 3.1 3.4 2.5 3.3
Income Before Tax 31.9 (7.9) (26.3) (29.8) (27.0) (112.4) 68.3 52.3 25.0 68.8 94.0 79.1 38.2 31.6 29.0 5.8 (7.7) 12.3 23.0 8.8 4.8 (1.2) 1.0 6.4 10.0 8.9 6.9 6.7 5.6 4.1 3 2 2.5
Income Tax Expense 2.6 8.3 0.1 6.0 (1.4) 3.4 16.3 5.5 5.3 20.4 27.1 22.9 10.9 9.7 7.4 1.4 (3.9) 3.9 7.6 3.0 2.1 (0.4) 0.3 2.4 3.5 2.8 2.1 2.4 2 1.4 1.2 0.7 1
Net Income 29.4 (16.2) (26.4) (35.7) (25.6) (115.8) 52.0 46.8 19.7 48.4 67.0 56.2 27.3 21.9 21.6 4.5 (3.8) 8.4 15.4 5.7 2.7 (0.7) 1.1 4.6 6.5 6.1 4.8 4.3 3.6 2.7 1.8 1.3 1.2
Per Share Data
EPS (Basic) 0.82 -0.46 -0.80 -1.11 -0.82 -3.76 1.62 1.45 0.60 1.44 1.99 1.70 0.71 0.58 0.71 0.60 -0.15 0.36 0.66 0.31 0.12 -0.04 0.06 0.25 0.35 0.34 0.34 0.31 0.26 0.15 0.13 0.10 0.09
EPS (Diluted) 0.81 -0.46 -0.80 -1.11 -0.82 -3.76 1.60 1.41 0.58 1.40 1.93 1.63 0.68 0.55 0.66 0.58 -0.15 0.34 0.62 0.30 0.12 -0.04 0.04 0.24 0.30 0.32 0.32 0.29 0.24 0.15 0.12 0.10 0.09
Shares Outstanding 38.5 35.2 33.0 32.2 31.2 30.8 32.1 32.4 32.9 33.5 33.6 33.0 38.3 37.6 30.6 25.0 24.8 23.6 23.3 18.4 18.5 17.6 18.2 18.4 18.7 18.1 14.2 14.0 14.1 12.9 13.7 13.6 13.9
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Current Assets
Cash & Cash Equivalents 18.2 9.3 11.3 13.8 29.8 40.4 31.9 16.6 17.9 17.9 14.9 3.0 8.5 11.8 7.7 9.2 0.0 1.2 0.5 0.7 1.1 0.8 3.5 3.5
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 204.7 191.4 172.1 147.8 107.4 93.1 148.0 182.3 132.6 109.4 30.6 22.1 5.9 4.4 9.5 6.8 12.8 6.9 5.4 4.4 3.7 4.9 3 2.5
Inventory 196.9 199.7 191.8 188.0 157.6 157.1 145.8 138.7 150.2 116.6 31.9 35.6 7.1 5.7 6.1 9.0 10.5 8.7 4.9 4.8 4.9 6.3 4.2 4.9
Other Current Assets 18.0 25.7 14.6 15.7 0 26.4 17.4 19.4 0 11.2 3.7 5.0 0.7 0.7 0 10.2 0.5 0.4 1.3 0.5 0.6 0.6 0.6 0.2
Total Current Assets 437.7 426.2 389.8 365.3 339.9 316.9 343.1 374.2 315.3 255.1 82.5 66.8 24.5 23.3 23.8 30.6 23.9 17.2 12.1 10.4 10.3 12.6 11.3 11.1
Non-Current Assets
Property, Plant & Equipment 139.3 104.3 113.3 103.7 111.4 129.1 138.6 120.9 125.8 122.8 31.2 29.1 15.2 15.1 15.7 34.0 36.2 36.2 25 18.2 17.6 16.3 11.2 11.7
Goodwill 62.9 58.1 58.2 58.2 58.3 58.3 145.0 125.0 125.6 115.2 7.5 2.6 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 55.4 52.5 65.4 79.3 94.3 109.9 127.3 133.4 153.5 98.1 5.6 1.9 2.6 2.4 2.1 0 0 0 0 0 0 0 0 0
Long-Term Investments 0 0 0 0 0 0 0 (3.2) (5.1) (11.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 11.3 7.8 7.0 8.6 5.3 5.5 28.8 21.3 15.7 13.1 3.8 3.3 2.4 3.5 24.5 6.5 6.9 6.5 6.6 1.6 2 1.9 1.3 2
Total Non-Current Assets 268.9 222.6 259.2 249.7 269.3 302.8 439.6 400.5 420.6 349.3 56.2 37.9 20.8 22.2 43.6 40.5 43.1 42.7 31.6 19.8 19.6 18.2 12.5 13.7
Total Assets 706.7 648.8 649.0 615.0 609.1 619.7 782.7 774.6 736.0 604.3 138.7 104.7 45.2 45.5 67.3 71.0 67.0 59.9 43.7 30.2 29.9 30.8 23.8 24.8
Current Liabilities
Account Payables 41.1 43.0 61.1 64.2 34.9 26.4 35.8 50.7 41.8 25.1 7.4 9.9 2.6 1.6 1.9 3.3 5.6 8.6 2.9 2.6 2.5 2.5 1.6 1.3
Short-Term Debt 5.8 0 14.2 9.0 0 7.1 6.6 1.9 2.7 2.6 6.2 0.9 0.9 0.9 0.9 0 1.3 0.8 0.4 1.2 2.2 2.3 2.2 2
Deferred Revenue 26.1 27.5 22.0 32.6 27.4 24.6 31.4 26.9 19.6 23.2 5.0 7.3 2.4 1.8 2.2 0 0 0 0 0 0 0 0 0
Other Current Liabilities 68.3 0 20.9 23.9 0 18.3 23.2 14.8 0 0 5.1 3.8 1.6 0.2 1.0 3.2 3.3 2.3 2.5 2.3 2.7 1.7 1.5 1.5
Total Current Liabilities 141.3 156.2 143.3 151.6 118.6 93.7 120.6 128.1 102.9 86.6 29.6 23.4 6.4 4.5 6.0 8.9 10.2 11.7 5.8 6.1 7.4 6.5 5.3 4.8
Non-Current Liabilities
Long-Term Debt 372.6 168.7 159.2 159.5 163 173 188 232.1 269.1 145.5 38.5 13.5 11.2 12.5 13.1 15.8 17.7 16 12.1 3.3 5.4 11.7 7 9.3
Deferred Tax Liabilities 0 1.4 16.5 1.9 1.4 2.9 3.9 3.2 5.1 11.3 0 0 0 0 0 1.1 1.2 1.3 1.1 0.8 0.5 0.9 1.2 1.4
Other Non-Current Liabilities 52.8 45.9 55.9 52.2 57.5 62.4 57.5 19.8 28.9 23.6 10.4 9.5 5.0 5.5 5.3 4.5 3.7 3.1 2 1.8 1.8 0 0 (0.1)
Total Non-Current Liabilities 425.3 236.5 256.1 223.5 233.9 255.6 273.2 259.9 303.1 180.3 49.0 23.0 16.2 18.0 18.4 21.4 22.6 20.4 15.2 5.9 7.7 12.6 8.2 10.6
Total Liabilities 566.6 392.7 399.5 375.1 352.5 349.4 393.9 388.0 406.0 266.9 78.6 46.4 22.6 22.5 24.4 30.4 32.8 32.1 21 12 15.1 19.1 13.5 15.4
Stockholders' Equity
Common Stock 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0 0 0 0 0 0
Retained Earnings 0 192.2 209.8 240.4 287.2 312.8 428.6 376.6 325.2 305.5 50.1 53.9 22.2 22.9 42.8 38.3 31.8 25.7 20.9 16.6 13.1 10.4 8.7 7.4
Accumulated Other Comprehensive Income (4.4) (3.9) (9.4) (9.5) (14.5) (16.4) (15.6) (13.3) (13.4) (15.5) (0.2) (1.4) 0.7 0.4 (0.5) 0.0 0.0 (19.8) (19.1) (16.6) (14.1) (14.9) (14.1) (13.6)
Total Stockholders' Equity 140.1 256.1 249.5 239.9 256.6 270.4 388.9 386.6 329.9 337.4 60.1 58.3 22.7 22.9 42.9 40.7 34.2 27.8 22.7 18.2 14.8 11.7 10.3 9.4
Total Liabilities & Equity 706.7 648.8 649.0 615.0 609.1 619.7 782.7 774.6 736.0 604.3 138.7 104.7 45.2 45.5 67.3 71.0 67.0 59.9 43.7 30.2 29.9 30.8 23.8 24.8
Debt Metrics
Total Debt 378.4 193.9 197.9 178.4 181.8 197.4 218.5 234.0 271.8 148.1 44.8 14.4 12.1 13.4 14.0 15.8 19.0 16.8 12.5 4.5 7.6 14 9.2 11.3
Net Debt 360.2 184.6 186.6 164.6 152.0 157.0 186.6 217.4 253.9 130.2 29.8 11.4 3.6 1.6 6.3 6.6 19.0 15.6 12 3.8 6.5 13.2 5.7 7.8
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Operating Activities
Net Income 29.4 (16.2) (26.4) (35.7) (25.6) (115.8) 52.0 46.8 19.7 48.4 2.7 (0.7) 0.8 4.0 6.5 6.1 4.8 4.3 3.6 2.7 1.8 1.3 1.5
Depreciation & Amortization 21.8 24.5 26.1 27.8 29.0 31.9 33.0 35.0 27.1 25.8 2.4 1.3 1.2 1.3 4.4 4.2 3.7 3.1 2.8 2.6 2.6 2.5 2.5
Stock-Based Compensation 6.8 12.0 11.4 6.5 6.5 5.2 3.8 3.1 2.6 2.3 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (39.5) (32.3) (55.8) (33.1) (22.9) (9.8) (18.0) (30.0) (24.3) (25.5) (0.4) (0.8) 0.0 0.3 1.8 (8.3) 1.4 (1.3) (0.4) 4.8 1.7 (0.1) 0.9
Other Non-Cash Items 57.7 42.6 20.6 6.3 7.9 104.4 (33.4) 2.6 18.3 2.6 (0.4) 0.3 (0.3) (1.6) 0.1 0.1 0.1 0 (0.2) (1.7) (0.1) (0.1) (0.3)
Operating Cash Flow 74.8 30.6 (23.9) (28.3) (5.5) 37.3 42.7 54.9 37.8 48.9 4.6 (0.0) 1.9 3.7 12.7 2.2 10.1 6.3 6.1 8.1 5.6 3.4 4.7
Investing Activities
Capital Expenditure (31.7) (8.4) (7.6) (7.7) (6.0) (7.5) (12.1) (16.3) (13.5) (13.0) (2.5) (1.1) (0.4) (0.4) (0.3) (4.0) (14.6) (9.7) (3.1) (4) (6.1) (1.6) (3.3)
Acquisitions (22.1) 0 3.5 22.1 9.2 0 76.0 0 (114.0) 0 (13.4) 0.0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0.1 (4) 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 1 3 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 0 0 0 0 0 1.7 0.7 (3.4) (2.0) (1.6) (0.2) (0.3) (0.3) (0.3) (2.2) (3.7) (0.5) (0.5) 0 2.2 (6.7) 0.6 (0.5)
Investing Cash Flow (53.7) (8.4) (4.1) 14.4 3.2 (5.8) 64.6 (19.7) (129.6) (14.6) (15.0) (2.4) (0.7) (0.7) (2.5) (7.7) (15.1) (10.2) (3.1) (1.8) (12.8) (1) (3.8)
Financing Activities
Net Debt Issuance (23.0) 2.5 8.5 1 (10.9) (17.1) (40.9) (37.8) 123.4 (21.8) 6.1 (0.9) (0.9) (2.5) (0.8) 4.6 4.2 8.1 (3.1) (6.3) 4.7 (2) (1.5)
Stock Repurchased 0 0 0 0 0 (7.7) (50.8) 0 (32.4) (17.6) 0 0 (1.1) (2.1) (0.5) (0.0) 0 0 (0.5) 0 (0.6) (0.5) 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities 0.6 (17.0) (4.3) (2.4) 3.4 0.3 (0.5) 1.7 0.4 4.6 0 0 4.8 0 (0.0) (0.1) 1.1 (4.7) 0 (0.1) 0.1 0 0
Financing Cash Flow (22.4) (14.5) 25.4 (1.4) (7.5) (24.6) (92.2) (36.1) 91.4 (34.8) 6.4 (0.8) 2.8 (4.5) (1.1) 4.4 5.6 3.6 (3.3) (5.9) 4.4 (2.4) (1.4)
Cash Position
Net Change in Cash (0.2) 7.1 (2.5) (16.0) (10.7) 8.5 15.3 (1.3) 0.0 (0.7) (4.0) (3.3) 4.1 (1.5) 9.1 (1.1) 0.7 3.6 (3.3) (5.9) 4.4 0 (1.4)
Cash at Beginning 18.4 11.3 13.8 29.8 40.4 31.9 16.6 17.9 17.9 18.6 8.5 11.8 7.7 9.2 0.0 1.2 0.5 0.7 1.1 0.8 3.5 3.5 4
Cash at End 18.2 18.4 11.3 13.8 29.8 40.4 31.9 16.6 17.9 17.9 4.5 8.5 11.8 7.7 9.2 0.0 1.2 4.3 (2.2) (5.1) 7.9 3.5 2.6
Free Cash Flow 43.1 22.1 (31.6) (36.0) (11.6) 29.9 30.6 38.6 24.3 35.8 2.1 (1.1) 1.5 3.3 12.4 (1.8) (4.5) (3.4) 3 4.1 (0.5) 1.8 1.4
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Income Statement
Revenue 862.1 795.4 689.2 534.9 444.9 502.6 772.7 803.3 624.5 633.1 692.3 661.0 339.9 266.4 228.2 51.8 191.2 173.7 158.2 110.8 75.4 34.7 33.2 42.9 85.4 72.0 50.6 46.1 41 38.4 28.5 24.9 24
Gross Profit 258.2 168.3 120.8 71.5 65.4 96.8 156.1 180.7 137.1 159.5 187.9 167.0 87.9 69.4 60.5 12.4 37.3 30.5 40.9 23.2 15.5 4.6 6.7 12.2 21.3 23.4 18.2 18 16.3 13.7 11.1 9.9 10.3
Operating Income 76.4 26.5 (6.7) (30.0) (28.7) (100.7) 1.7 63.7 30.4 73.1 98.8 87.4 42.3 32.6 30.8 6.4 (6.2) 13.1 24.5 9.7 5.3 (0.9) 1.2 6.6 10.5 9.6 7.1 7.1 6 3.1 3.4 2.5 3.3
Net Income 29.4 (16.2) (26.4) (35.7) (25.6) (115.8) 52.0 46.8 19.7 48.4 67.0 56.2 27.3 21.9 21.6 4.5 (3.8) 8.4 15.4 5.7 2.7 (0.7) 1.1 4.6 6.5 6.1 4.8 4.3 3.6 2.7 1.8 1.3 1.2
EPS (Diluted) 0.81 -0.46 -0.80 -1.11 -0.82 -3.76 1.60 1.41 0.58 1.40 1.93 1.63 0.68 0.55 0.66 0.58 -0.15 0.34 0.62 0.30 0.12 -0.04 0.04 0.24 0.30 0.32 0.32 0.29 0.24 0.15 0.12 0.10 0.09
Balance Sheet
Cash & Equivalents 18.2 9.3 11.3 13.8 29.8 40.4 31.9 16.6 17.9 17.9 14.9 3.0 8.5 11.8 7.7 9.2 0.0 1.2 0.5 0.7 1.1 0.8 3.5 3.5
Total Assets 706.7 648.8 649.0 615.0 609.1 619.7 782.7 774.6 736.0 604.3 138.7 104.7 45.2 45.5 67.3 71.0 67.0 59.9 43.7 30.2 29.9 30.8 23.8 24.8
Total Debt 378.4 193.9 197.9 178.4 181.8 197.4 218.5 234.0 271.8 148.1 44.8 14.4 12.1 13.4 14.0 15.8 19.0 16.8 12.5 4.5 7.6 14 9.2 11.3
Stockholders' Equity 140.1 256.1 249.5 239.9 256.6 270.4 388.9 386.6 329.9 337.4 60.1 58.3 22.7 22.9 42.9 40.7 34.2 27.8 22.7 18.2 14.8 11.7 10.3 9.4
Cash Flow
Operating Cash Flow 74.8 30.6 (23.9) (28.3) (5.5) 37.3 42.7 54.9 37.8 48.9 4.6 (0.0) 1.9 3.7 12.7 2.2 10.1 6.3 6.1 8.1 5.6 3.4 4.7
Capital Expenditure (31.7) (8.4) (7.6) (7.7) (6.0) (7.5) (12.1) (16.3) (13.5) (13.0) (2.5) (1.1) (0.4) (0.4) (0.3) (4.0) (14.6) (9.7) (3.1) (4) (6.1) (1.6) (3.3)
Free Cash Flow 43.1 22.1 (31.6) (36.0) (11.6) 29.9 30.6 38.6 24.3 35.8 2.1 (1.1) 1.5 3.3 12.4 (1.8) (4.5) (3.4) 3 4.1 (0.5) 1.8 1.4