Astronics Corporation ATRO R2K

Industrials · Aerospace & Defense · United States

https://www.astronics.com

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, systems certification, and other products. This segment serves airframe manufacturers (OEM) that build aircraft for the commercial transport, military, and general aviation markets; suppliers to OEMs; and aircraft operators, such as airlines; suppliers to the aircraft operators; and branches of the U.S. Department of Defense. The Test Systems segment designs, develops, manufactures, and maintains automated test systems that support the aerospace and defense, communications, and mass transit industries, as well as training and simulation devices for commercial and military applications. This segment serves OEMs and prime government contractors for electronics and military products. The company was incorporated in 1968 and is headquartered in East Aurora, New York.

Market & Price

Market Cap

$3.12B

Current Price

$87.00

High / Low (52W)

$88.17 / $30.01

Beta

1.11

Valuation

Stock P/E

71.31

Industry PE

28.38

Forward P/E

27.84

PEG Ratio

1.45

Book Value

$4.51

Price to Book

19.28

P/S

3.52

EV/EBITDA

28.16

Dividend Yield

Profitability & Returns

ROCE

13.51%

ROE

21.18%

ROA

9.01%

Profit Margin

5.12%

Op Margin

11.81%

EPS (Latest Qtr)

$0.67

EPS (TTM)

$1.22

Balance Sheet & Liquidity

Debt/Equity

2.34

Quick Ratio

1.45

Current Ratio

2.97

Debt

$379.11M

Total Assets

$706.68M

Current Assets

$437.74M

Working Capital

$296.46M

Ownership

Promoter Holding

2.39%

Chg in Prom Hold

0.00%

FII / Inst Holding

100.91%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$3.49B

Total Revenue (TTM)

$886.81M

EBITDA

$123.76M

Free Cash Flow

$-2.46M

Operating Cash Flow

$64.76M

Shares Outstanding

32.04M

Gross Margin

31.38%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

17.25%

Profit 5Y

60.71%

Revenue (YoY)

12.00%

Earnings (YoY)

154.30%

PROS

Strong return on equity of 21.2%.
Compounding revenue at 17.2% over 5 years.
Profit CAGR of 60.7% over 5 years.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Trading at a high P/E of 71.3.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ATRO Astronics Corporation R2K	87.00	71.31	$3.12B	-	13.51%	21.18%	17.25%	60.71%
2	CAT Caterpillar Inc. SPX	875.87	43.66	$403.42B	0.69%	19.42%	51.33%	4.38%	9.83%
3	GE GE Aerospace SPX	323.76	40.17	$338.27B	0.58%	11.89%	45.43%	16.32%	195.89%
4	GEV GE Vernova Inc. SPXAI	968.32	28.33	$260.21B	0.21%	6.30%	75.71%	8.68%	92.84%
5	RTX RTX Corporation SPX	179.66	33.64	$241.95B	1.54%	9.41%	11.57%	9.72%	9.01%
6	UNP Union Pacific Corporation SPX	262.64	21.60	$155.93B	2.10%	16.19%	40.69%	-0.49%	0.66%
7	ETN Eaton Corporation plc SPXAI	400.60	39.20	$155.55B	1.10%	16.23%	20.84%	9.77%	18.41%
8	HON Honeywell International Inc. NDXSPX	237.86	38.00	$150.72B	2.00%	13.57%	24.26%	1.82%	-1.62%
9	DE Deere & Company SPX	542.18	30.67	$146.45B	1.20%	12.82%	18.35%	-4.50%	-11.00%

Quarterly Results

Figures in USD.

Metric	Oct 2016	Dec 2016	Apr 2017	Jul 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Apr 2021	Jul 2021	Oct 2021	Dec 2021	Apr 2022	Jul 2022	Oct 2022	Dec 2022	Apr 2023	Jul 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Apr 2026
Revenue	-	-	152.40M	151.11M	149.64M	-	179.06M	208.61M	212.67M	202.92M	208.17M	189.10M	177.02M	198.41M	157.58M	123.69M	106.51M	114.80M	105.86M	111.16M	111.84M	116.05M	116.18M	129.13M	131.44M	158.15M	156.54M	174.45M	162.92M	195.29M	185.07M	198.11M	-	-	205.94M	204.68M	211.45M	240.07M	230.62M	230.62M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	145.09M	151.85M	146.94M	160.10M	155.49M	-
Gross Profit	38.66M	36.49M	38.32M	34.15M	32.49M	32.15M	37.13M	49.57M	46.32M	47.67M	52.08M	40.36M	36.79M	26.91M	35.72M	26.83M	15.17M	19.12M	14.27M	15.39M	17.23M	18.46M	19.93M	15.71M	14.39M	21.51M	27.51M	32.70M	20.62M	39.97M	47.51M	55.57M	-	-	60.85M	52.83M	64.51M	79.97M	75.13M	75.13M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47.71M	48.07M	41.46M	44.51M	47.90M	-
Operating Income	17.52M	-	16.93M	12.06M	10.39M	-	6.63M	20.13M	18.34M	-	22.88M	10.57M	5.10M	-	-67.56M	-18.68M	-9.00M	-	-9.51M	-5.92M	-4.50M	-	-4.17M	-8.40M	-14.31M	-	-2.37M	2.40M	-14.48M	-	1.67M	7.55M	-	-	13.14M	4.76M	23.05M	35.46M	27.23M	27.23M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18.73M	10.14M	28.22M	41.17M	33.12M	-
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.15M	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10.17M	1.85M	-12.32M	32.24M	24.79M	-
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	646.00K	537.00K	-1.23M	2.63M	-755.00K	-
Net Income	12.07M	9.88M	11.59M	7.68M	6.06M	-5.65M	3.29M	14.03M	17.00M	12.48M	78.15M	6.73M	1.21M	-34.06M	-66.96M	-23.58M	-5.25M	-19.98M	-11.91M	-8.10M	-7.17M	1.60M	-3.10M	-11.01M	-14.86M	-6.78M	-4.42M	-12.00M	-16.98M	6.98M	-3.18M	1.53M	-	-	9.53M	1.31M	-11.10M	29.61M	25.54M	25.54M
Diluted EPS	0.41	0.33	0.33	0.22	0.18	-0.18	0.10	0.42	0.52	0.37	2.35	0.20	0.04	-1.10	-2.17	-0.77	-0.17	-0.65	-0.39	-0.26	-0.23	0.05	-0.10	-0.34	-0.46	-0.21	-0.14	-0.37	-0.51	0.20	-0.09	0.04	-	-	0.26	0.04	-0.31	0.78	0.67	0.67
R&D Expense	21.60M	-	22.90M	23.00M	23.70M	-	28.90M	28.90M	31.20M	-	26.70M	27.70M	25.60M	-	26.20M	22.40M	16.40M	-	10.30M	10.30M	11.30M	-	12.20M	12.60M	12.00M	-	12.70M	12.70M	14.10M	-	13.32M	14.21M	12.48M	-	11.07M	11.57M	10.21M	-	-	12.09M

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	633.12M	624.46M	803.26M	772.70M	502.59M	-	534.89M	689.21M	795.43M	862.13M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	463.35M	514.67M	575.00M	603.97M
Gross Profit	37.27M	47.57M	60.50M	69.44M	87.86M	167.04M	187.94M	159.47M	137.11M	180.70M	156.14M	96.84M	-	71.54M	174.53M	220.43M	258.16M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	101.58M	181.20M	193.96M	181.75M
Operating Income	-6.21M	24.38M	30.82M	32.62M	42.30M	87.36M	98.80M	74.88M	32.10M	63.66M	1.70M	-100.70M	-	-30.04M	-6.67M	26.47M	76.41M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-2.27M	19.43M	50.93M	98.25M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-29.79M	-26.31M	-7.87M	31.95M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	5.95M	110.00K	8.35M	2.59M
Net Income	-3.80M	14.95M	21.59M	21.87M	27.27M	56.17M	66.97M	48.42M	19.68M	46.80M	52.02M	-115.78M	-	-35.75M	-26.42M	-16.21M	29.36M
Diluted EPS	-0.32	1.05	1.21	1.00	1.08	1.87	2.22	1.40	0.58	1.41	1.60	-3.76	-	-1.11	-0.80	-0.46	0.81
R&D Expense	-	28.30M	36.10M	44.90M	52.80M	76.70M	90.30M	88.90M	95.00M	114.30M	108.90M	40.20M	43.30M	48.30M	53.74M	52.09M	43.48M

Compounded Sales Growth

5 Years:	17.25%
1 Year:	12.00%

Compounded Profit Growth

5 Years:	60.71%
1 Year:	154.30%

Stock Price Performance

1 Year:	+178.67%
6 Months:	+70.35%
3 Months:	+7.91%
1 Month:	+29.87%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	150.89M	174.91M	211.99M	491.27M	562.91M	609.24M	604.34M	735.96M	774.64M	782.72M	619.75M	-	615.03M	633.79M	648.76M	706.68M
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	365.29M	389.78M	426.17M	437.74M
Cash & Equivalents	3.04M	14.95M	22.71M	10.92M	7.38M	54.63M	21.20M	18.56M	17.90M	17.91M	16.62M	-	-	-	13.78M	4.76M	9.29M	18.18M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	187.98M	191.80M	199.74M	196.86M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	123.07M	134.98M	139.65M	150.83M
Total Liabilities	-	-	73.67M	72.04M	86.86M	319.76M	334.73M	309.02M	266.89M	406.03M	388.01M	393.86M	349.37M	-	375.11M	384.27M	392.67M	566.60M
Current Liabilities	-	-	31.29M	33.48M	47.97M	85.24M	109.22M	104.23M	86.56M	102.89M	128.09M	120.64M	93.74M	-	151.61M	143.33M	156.15M	141.28M
Long Term Debt	-	-	33.26M	27.97M	20.71M	188.04M	180.21M	167.21M	145.48M	269.08M	232.11M	188.00M	173.00M	-	159.50M	159.24M	168.67M	334.45M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	178.38M	197.68M	193.87M	378.35M
Total Equity	-	-	77.22M	102.86M	125.13M	171.51M	228.18M	300.23M	337.45M	329.93M	386.62M	388.86M	270.37M	-	239.92M	249.52M	256.10M	140.07M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35.44M	37.35M	37.96M	38.43M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	31.09M	16.50M	27.91M	24.18M	49.55M	-	-	-	37.78M	54.88M	42.69M	37.34M	-	-28.31M	-23.95M	30.57M	74.80M
Investing Cash Flow	-42.70M	-3.61M	-38.13M	-27.38M	-166.63M	-	-	-	-129.56M	-19.67M	64.63M	-5.80M	-	14.39M	-4.11M	-8.43M	-53.75M
Financing Cash Flow	23.52M	-5.13M	-1.56M	-341.00K	164.25M	-	-	-	91.42M	-36.13M	-92.18M	-24.58M	-	-1.41M	25.43M	-14.53M	-22.39M
Capital Expenditure	-2.47M	-3.57M	-14.28M	-	-	-	-	-	-	-	-	-	-	-7.67M	-7.64M	-8.43M	-31.67M
Free Cash Flow	28.62M	12.94M	13.63M	-	-	-	-	-	-	-	-	-	-	-35.99M	-31.59M	22.14M	43.12M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-15.34M	-2.62M	7.61M	-1.35M
Share Buybacks	-	-	-	-	-	0	0	17.62M	32.38M	0	50.78M	7.73M	0	0	-	-	-

Ratios (Annual)

Figures in %.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	25.2%	22.0%	22.5%	20.2%	19.3%	-	13.4%	25.3%	27.7%	29.9%
Operating Margin %	-	-	-	-	-	-	-	11.8%	5.1%	7.9%	0.2%	-20.0%	-	-5.6%	-1.0%	3.3%	8.9%
Net Margin %	-	-	-	-	-	-	-	7.6%	3.2%	5.8%	6.7%	-23.0%	-	-6.7%	-3.8%	-2.0%	3.4%
ROE %	-	19.4%	21.0%	17.5%	15.9%	24.6%	22.3%	14.4%	6.0%	12.1%	13.4%	-42.8%	-	-14.9%	-10.6%	-6.3%	21.0%
ROCE %	-	20.4%	21.8%	19.9%	10.4%	19.3%	19.6%	14.5%	5.1%	9.8%	0.3%	-19.1%	-	-6.5%	-1.4%	5.4%	13.5%

Shareholding Pattern

Insiders

2.39%

Institutions

100.91%

Public Float

103.39%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	8.82%	2.83M	$245.81M
2	State Street Corporation	7.33%	2.35M	$204.43M
3	American Century Companies Inc	5.42%	1.74M	$151.17M
4	Vanguard Capital Management LLC	4.33%	1.39M	$120.83M
5	Capital International Investors	4.02%	1.29M	$112.14M
6	Geode Capital Management, LLC	2.77%	887.03K	$77.17M
7	Pertento Partners LLP	2.54%	815.33K	$70.93M
8	Next Century Growth Investors LLC	2.45%	786.32K	$68.41M
9	Dimensional Fund Advisors LP	2.10%	673.76K	$58.62M
10	Shaw D.E. & Co., Inc.	1.90%	608.45K	$52.94M

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