A Business at a Glance
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ASTRONICS CORP
ATRO
$2.5B
Mkt Cap
$69.85
-1.62%
ASTRONICS CORP (ATRO) has a current P/E ratio of 86.2, compared to its historical median P/E of 21.5. The stock is currently considered Expensive based on its historical valuation range.
ASTRONICS CORP (ATRO) has a 5-year average return on invested capital (ROIC) of 1.1%. This is below average and may indicate limited pricing power.
ASTRONICS CORP (ATRO) has a market capitalization of $2.5B. It is classified as a mid-cap stock.
ASTRONICS CORP (ATRO) does not currently pay a regular dividend.
Based on historical P/E analysis, ASTRONICS CORP (ATRO) appears expensive. The current P/E of 86.2 is 301% above its historical median of 21.5. The estimated fair value CAGR (P/E method) is -9.3%.
ASTRONICS CORP (ATRO) operates in the Aircraft Parts & Auxiliary Equipment, Nec industry, within the Industrials sector.
ASTRONICS CORP (ATRO) reported annual revenue of $862 million in its most recent fiscal year, based on SEC EDGAR filings.
Astronics Corporation (“Astronics” or the “Company”) is a leading provider of advanced technologies to the global aerospace, defense, and electronics industries. Our products and services include advanced, high-performance electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, systems certification, aircraft structures and automated test systems. We have principal operations in the United States (“U.S.”), Canada, France and Germany, as well as engineering offices in Ukraine and India. Our operation in Ukraine is a small engineering office and we have not experienced any significant disruption in staffing or services as a result of the continuing Ukrainian and Russian conflict. The Company has two reportable segments, Aerospace and Test Systems. The Aerospace segment designs and manufactures products for the global aerospace and defense industry.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 862M | 862M | 795M | 689M | 535M | 445M |
| Net Income | 29M | 29M | -16M | -26M | -36M | -26M |
| EPS | $0.81 | $0.81 | $-0.46 | $-0.80 | $-1.11 | $-0.82 |
| Free Cash Flow | 43M | 43M | 22M | -32M | -36M | -12M |
| ROIC | 14.0% | 15.3% | 6.2% | -1.6% | -8.7% | -5.9% |
| Gross Margin | 29.9% | 29.9% | 27.7% | 25.3% | 13.4% | 14.7% |
| Debt/Equity | 2.70 | 2.70 | 0.76 | 0.79 | 0.74 | 0.71 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 76M | 76M | 26M | -6.7M | -30M | -29M |
| Operating Margin | 8.9% | 8.9% | 3.3% | -1.0% | -5.6% | -6.4% |
| ROE | 21.0% | 14.8% | -6.4% | -10.8% | -14.4% | -9.7% |
| Shares Outstanding | 36M | 36M | 35M | 33M | 32M | 31M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | N/A | N/A | 633M | 624M | 803M | 773M | 503M | 445M | 535M | 689M | 795M | 862M | 862M |
| Gross Margin | N/A | N/A | 25.2% | 22.0% | 22.5% | 20.2% | 19.3% | 14.7% | 13.4% | 25.3% | 27.7% | 29.9% | 29.9% |
| R&D | 77M | 90M | 89M | 95M | 114M | 109M | 40M | 43M | 48M | 54M | 52M | 43M | 43M |
| SG&A | 80M | 89M | 85M | 89M | 117M | 143M | 111M | 99M | 102M | 127M | 142M | 138M | 138M |
| EBIT | 87M | 99M | 75M | 32M | 64M | N/A | -101M | -29M | -30M | -6.7M | 26M | 76M | 76M |
| Op. Margin | N/A | N/A | 11.8% | 5.1% | 7.9% | N/A | -20.0% | -6.4% | -5.6% | -1.0% | 3.3% | 8.9% | 8.9% |
| Net Income | 56M | 67M | 48M | 20M | 47M | 52M | -116M | -26M | -36M | -26M | -16M | 29M | 29M |
| Net Margin | N/A | N/A | 7.6% | 3.2% | 5.8% | 6.7% | -23.0% | -5.7% | -6.7% | -3.8% | -2.0% | 3.4% | 3.4% |
| Non-Recurring | 0 | 0 | 0 | 16M | 0 | 86M | 92M | 11M | 11M | 3.4M | 0 | 6.2M | 6.2M |
| Returns on Capital | |||||||||||||
| ROIC | 17.3% | 16.7% | 11.5% | 4.8% | 9.6% | N/A | -22.7% | -5.9% | -8.7% | -1.6% | 6.2% | 15.3% | 14.0% |
| ROE | 28.1% | 25.3% | 15.2% | 5.9% | 13.1% | 13.4% | -35.1% | -9.7% | -14.4% | -10.8% | -6.4% | 14.8% | 21.0% |
| ROA | 10.7% | 11.4% | 8.0% | 2.9% | 6.2% | 6.7% | -16.5% | -4.2% | -5.8% | -4.2% | -2.5% | 4.3% | 4.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 100M | 79M | 49M | 38M | 55M | 43M | 37M | -5.5M | -28M | -24M | 31M | 75M | 75M |
| Free Cash Flow | 59M | 60M | 36M | 24M | 39M | 31M | 30M | -12M | -36M | -32M | 22M | 43M | 43M |
| Owner Earnings | 71M | 51M | 21M | 8.1M | 17M | 5.8M | 297K | -41M | -63M | -57M | -2.5M | 46M | 46M |
| CapEx | 41M | 19M | 13M | 13M | 16M | 12M | 7.5M | 6.0M | 7.7M | 7.6M | 8.4M | 32M | 32M |
| Maint. CapEx | 27M | 25M | 26M | 27M | 35M | 33M | 32M | 29M | 28M | 26M | 24M | 22M | 22M |
| Growth CapEx | 14M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.8M | 9.8M |
| D&A | 27M | 25M | 26M | 27M | 35M | 33M | 32M | 29M | 28M | 26M | 24M | 22M | 22M |
| CapEx/OCF | 40.9% | 23.7% | 26.7% | 35.7% | 29.7% | 28.3% | 20.0% | N/A | N/A | N/A | 27.6% | 42.3% | 42.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 18M | 32M | 0 | 51M | 7.7M | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | 1.7% | 2.7% | N/A | 5.5% | 1.8% | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 1.7M | 2.3M | 2.3M | 2.6M | 3.1M | 3.8M | 5.2M | 6.5M | 6.5M | 7.2M | 8.6M | 6.8M | 6.8M |
| Debt Repayment | 276M | 68M | 42M | 24M | 73M | 156M | 170M | 30M | 125M | 131M | 375M | 111M | 111M |
| Balance Sheet | |||||||||||||
| Net Debt | 162M | 151M | 130M | 254M | 217M | 182M | 154M | 152M | 165M | 193M | 185M | 360M | 360M |
| Cash & Equiv. | 21M | 19M | 18M | 18M | 17M | 32M | 40M | 30M | 14M | 4.8M | 9.3M | 18M | 18M |
| Long-Term Debt | 180M | 167M | 145M | 269M | 232M | 188M | 173M | 163M | 160M | 159M | 169M | 334M | 334M |
| Debt/Equity | 0.80 | 0.57 | 0.44 | 0.82 | 0.61 | 0.55 | 0.72 | 0.71 | 0.74 | 0.79 | 0.76 | 2.70 | 2.70 |
| Interest Coverage | 10.6 | 20.8 | 17.2 | 6.0 | 6.6 | N/A | -14.9 | -4.2 | -3.2 | -0.3 | 2646.6 | 8.5 | 8.5 |
| Equity | 228M | 300M | 337M | 330M | 387M | 389M | 270M | 257M | 240M | 250M | 256M | 140M | 140M |
| Total Assets | 563M | 609M | 604M | 736M | 775M | 783M | 620M | 609M | 615M | 634M | 649M | 707M | 707M |
| Total Liabilities | 335M | 309M | 267M | 406M | 388M | 394M | 349M | 353M | 375M | 384M | 393M | 567M | 567M |
| Intangibles | 95M | 108M | 98M | 153M | 133M | 127M | 110M | 94M | 79M | 65M | 52M | 55M | 55M |
| Retained Earnings | 190M | 257M | 306M | 325M | 377M | 429M | 313M | 287M | 240M | 210M | 192M | 217M | 217M |
| Working Capital | 137M | 146M | 169M | 212M | 246M | 222M | 223M | 221M | 214M | 246M | 270M | 296M | 296M |
| Current Assets | 246M | 250M | 255M | 315M | 374M | 343M | 317M | 340M | 365M | 390M | 426M | 438M | 438M |
| Current Liabilities | 109M | 104M | 87M | 103M | 128M | 121M | 94M | 119M | 152M | 143M | 156M | 141M | 141M |
| Per Share Data | |||||||||||||
| EPS | 1.87 | 2.22 | 1.40 | 0.58 | 1.41 | 1.60 | -3.76 | -0.82 | -1.11 | -0.80 | -0.46 | 0.81 | 0.81 |
| Owner EPS | 2.36 | 1.69 | 0.60 | 0.24 | 0.50 | 0.18 | 0.01 | -1.31 | -1.94 | -1.73 | -0.07 | 1.27 | 1.27 |
| Book Value | 7.60 | 9.95 | 9.76 | 9.72 | 11.65 | 11.96 | 8.78 | 8.23 | 7.45 | 7.56 | 7.27 | 3.86 | 3.86 |
| Cash Flow/Share | 3.32 | 2.60 | 1.41 | 1.11 | 1.65 | 1.31 | 1.21 | -0.18 | -0.88 | -0.73 | 0.87 | 2.06 | 1.41 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 30.0M | 30.2M | 34.6M | 33.9M | 33.2M | 32.5M | 30.8M | 31.2M | 32.2M | 33.0M | 35.3M | 36.2M | 36.2M |
| Valuation | |||||||||||||
| P/E Ratio | 21.7 | 15.2 | 21.5 | 61.2 | 21.5 | 17.6 | N/A | N/A | N/A | N/A | N/A | 68.4 | 86.2 |
| P/FCF | 17.5 | 14.4 | 28.2 | 49.6 | 26.1 | 30.0 | 14.1 | N/A | N/A | N/A | 25.5 | 46.6 | 58.7 |
| EV/EBIT | 15.6 | 11.7 | 15.8 | 45.0 | 19.3 | 14.5 | N/A | N/A | N/A | N/A | 27.0 | 30.2 | 37.8 |
| Price/Book | 5.3 | 3.4 | 3.1 | 3.7 | 2.6 | 2.4 | 1.6 | 3.0 | 1.3 | 2.3 | 2.2 | 14.3 | 18.1 |
| Price/Sales | 1.7 | 1.9 | 1.6 | 1.5 | 1.4 | 1.4 | 0.8 | 2.2 | 0.6 | 0.8 | 0.8 | 1.4 | 2.9 |
| FCF Yield | 4.8% | 5.9% | 3.4% | 2.0% | 3.8% | 3.3% | 7.1% | -1.5% | -11.6% | -5.4% | 3.9% | 2.1% | 1.7% |
| Market Cap | 1.2B | 1.0B | 1.0B | 1.2B | 1.0B | 917M | 420M | 773M | 309M | 581M | 565M | 2.0B | 2.5B |
| Avg. Price | 31.38 | 37.53 | 28.10 | 27.28 | 33.22 | 32.85 | 12.54 | 15.18 | 10.70 | 15.83 | 18.64 | 33.63 | 69.85 |
| Year-End Price | 34.44 | 28.54 | 29.23 | 35.52 | 30.35 | 28.22 | 13.64 | 11.98 | 9.60 | 17.59 | 16.03 | 55.41 | 69.85 |
ASTRONICS CORP passes 1 of 9 quality checks, indicating weak fundamentals.
ASTRONICS CORP trades at 86.2x trailing earnings, compared to its 15-year median P/E of 21.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 51.6x vs a median of 28.2x. The company's 5-year average ROIC is 1.1% with a gross margin of 22.2%. At current prices, the estimated annualized return to fair value is +4.1%.
ASTRONICS CORP (ATRO) has a net profit margin of 3.4%. This is a modest margin.
ASTRONICS CORP (ATRO) generated $43 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ASTRONICS CORP (ATRO) has a debt-to-equity ratio of 2.70. This indicates higher leverage, which may increase financial risk.
ASTRONICS CORP (ATRO) reported earnings per share (EPS) of $0.81 in its most recent fiscal year.
ASTRONICS CORP (ATRO) has a return on equity (ROE) of 14.8%. This indicates moderate shareholder returns.
ASTRONICS CORP (ATRO) has a 5-year average gross margin of 22.2%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for ASTRONICS CORP (ATRO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ASTRONICS CORP (ATRO) has a book value per share of $3.86, based on its most recent annual SEC filing.
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