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Astronics Corp (ATRO) stock

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NASDAQ: ATRO Nasdaq Aerospace & Defense Next results ~November 10, 2026

C+ Fundamentals grade

Astronics Corp is a US-listed company in the aerospace & defense industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($8.96) was left out of our combined valuation (it is 0.14x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($8.96) was left out of our combined valuation (it is 0.14x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Astronics Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds167 adding, 139 cuttingOf 65 active managers that changed their stake, 29 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Astronics files

Where Astronics stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $942m, up 14.5% on a year earlier, faster than the 8.6% growth a quarter earlier. Free-cash-flow margin rose to 6.4% from 4.4% a year earlier. Operating margin widened to 13.4% from 4.3%. The diluted share count is up 12.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 6 financial-health checks.

Our model value for Astronics is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 12, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Astronics Corp's trailing-twelve-month revenue grew 14.5% year on year, with a free-cash-flow margin of 6.4%. Where it stands out: operating margin of 13.4% ranks 11 of 51 aerospace & defense companies we cover. Where it lags: long-term debt as % of assets of 40.8% ranks 44 of 47 aerospace & defense companies we cover.

Our discounted-cash-flow model values the business at ~$9.0 per share in the base case (~$5.1–$14 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Gross margin expanding: TTM gross margin reached 32.5%, up 4.5pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 5.9 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 9.1 points on a year ago.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 16.3% over 90 days.

Things to watch

  • Share dilution. Diluted shares rose 5.9% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 55% and a beta of 2.0 against the S&P 500.
  • Weak cash conversion. Free cash flow was 77% of net income over the last 12 months.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 40.8% ranks 44 of 47 aerospace & defense companies we cover (median 22.1%).
  • Below peers: days sales outstanding. Days sales outstanding of 89 days ranks 38 of 45 aerospace & defense companies we cover (median 53 days).

Latest results: FY2026 Q2

Filed August 12, 2026
Earnings per share
$0.70 against an average estimate of $0.61: beat by 15.2%
Revenue
$260m, up 27.0% on a year earlier
Share reaction
+16.5% in the first session after the results on August 11, 2026, against -0.1% for the S&P 500
Guidance given
2026 revenue guidance $1.02bn to $1.04bn (2026); third quarter sales $265m to $275m (third quarter)
Next report
November 10, 2026; average EPS estimate $0.72

Astronics' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.9%
  • 1 week+0.2%
  • 1 month-12.1%
  • This year+38.5%
  • 1 year+52.7%
  • 5 years+343.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$942M
Operating margin
13.4%
Net margin
8.4%
EPS (TTM, diluted)
$1.71

Growth

Revenue growth
+14.5%
Change in growth rate
+5.9 pts
Share count change
+5.9%

Cash

Free cash flow (TTM)
$60.7M
FCF margin
6.4%
Stock pay % of revenue
0.8%

Earnings

Last results
August 11, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Astronics Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($8.96) was left out of our combined valuation (it is 0.14x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Astronics Corp's free cash flow after stock-based pay ( $22.2M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Astronics Corp as an operating company, with every model that fits that kind of business. Cost of equity 10.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.2 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$9.0 ~$5.1–$14 Left out: out of range vs price (0.15x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$73 ~$59–$100 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$0.9 ~$0.5–$1.4 Left out: out of range vs price (0.01x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Astronics Corp with Aerospace & Defense in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025
Share price$29.95$28.63$35.08$30.45$27.95$13.23$12.00$10.30$13.90$12.74$43.29
Market value$1.1bn$989m$1.2bn$1.0bn$907m$407m$373m$331m$460m$446m$1.6bn
+ Net debt (− = net cash)$151m$130m$254m$217m$156m$133m$133m$150m$163m$159m$316m
Enterprise value$1.2bn$1.1bn$1.4bn$1.2bn$1.1bn$540m$506m$482m$624m$606m$1.9bn
Multiples
Price / sales 1.5x1.6x1.9x1.3x1.2x0.8x0.8x0.6x0.7x0.6x1.8x
Price / earnings 16.0x20.4x60.1x21.6x17.4x—————53.8x
Price / free cash flow 17.8x27.6x48.7x26.2x29.6x13.6x———20.2x36.6x
EV / EBITDA 9.8x11.1x24.3x12.4x30.6x—n/m—32.1x11.9x19.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

23 /100

Weak moat

How hard Astronics's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median 1.8% of total assets over 10 years.

  • Pricing power 5 / 20

    Gross margin has been a median 21.7%, moving by 5.5 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 2.3%; its worst year was -18.0%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 6 of 10 years, at a median 3.2% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 20.1% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, after the close. Analysts expect revenue of $268m and EPS of $0.72 (range $0.64 to $0.76) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.71 +62% $1.0bn +20%
Next $3.06 +13% $1.1bn +10%

Next year's EPS estimate has moved +16.3% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +11.2% on 90 days ago. In the last 30 days, 0 analysts raised Astronics Corp's forecast and 1 cut it.

Consensus EPS forecast Astronics Corp, last 90 days
$2.40 $2.60 $2.80 $3.00 $3.20 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.44 Current fiscal year, 60 days ago: $2.72 Current fiscal year, 30 days ago: $2.72 Current fiscal year, 7 days ago: $2.71 Current fiscal year, Now: $2.71 $2.71 Next fiscal year, 90 days ago: $2.64 Next fiscal year, 60 days ago: $3.15 Next fiscal year, 30 days ago: $3.15 Next fiscal year, 7 days ago: $3.04 Next fiscal year, Now: $3.06 $3.06

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.44$2.64
60 days ago $2.72$3.15
30 days ago $2.72$3.15
7 days ago $2.71$3.04
Now $2.71$3.06

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.61 $0.70 +15.2%
Mar 2026 $0.47 $0.49 +4.9%
Dec 2025 $0.50 $0.63 +25.0%
Sept 2025 $0.35 $0.41 +17.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 11, 2026
  • 2026 revenue guidance 2026 $1.02bn to $1.04bn Raised
    “Raising 2026 revenue guidance to $1.02 billion to $1.04 billion” source
  • third quarter sales third quarter $265m to $275m
    “Astronics expects to set another annual sales record in 2026 with revenue estimated to be $1.02 billion to $1.04 billion for the year, with third quarter sales of $265 million to $275 million.” source
  • Planned capital expenditures 2026 $40m to $45m
    “Planned capital expenditures in 2026 are expected to be in the range of $40 million to $45 million driven largely by costs associated with the Seattle operation consolidation, which will conclude in the third quarter.” source
  • Future IEEPA tariff refunds future $6m to $8m
    “The Company estimates future IEEPA tariff refunds will range from $6 million to $8 million although the timing of such receipts cannot be confirmed at this time.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Astronics Corp's revenue by +14.9% next year and +13.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+15.1%, weight 51%) , management guidance (+14.8%, weight 21%) and the company's own record (+14.7%, weight 28%) . How the weights are set.

Analyst recommendations

5 analysts, Oct 2026
Buy480%
Hold120%
Sell00%

Monthly trend

  1. Oct 20261315
  2. Sep 2026134
  3. Aug 20261315
  4. Jul 20261315

Counts of recommendations published by analysts covering Astronics Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.1%
of tradable shares
Days to cover
5.22
at average volume
Short interest, 1 month
−4%
to October 15, 2026
Held by institutions
90%
of shares
Held by insiders
1.9%
of shares
Employees
2,700
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +52.7%

$39.25 on October 31, 2025 to $59.95

ThenNowEffect
Revenue (last 12 months) $823m $942m +14.5%
P/S multiple 2.2x 2.9x +31.7%
Share count 46m 46m +1.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +368.0%

$12.81 on November 3, 2023 to $59.95

ThenNowEffect
Revenue (last 12 months) $621m $942m +51.8%
P/S multiple 0.8x 2.9x +246.0%
Share count 41m 46m −10.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ATRO−9%−14%+35%−8%+240%+39%
Industry peers (median)−4%−10%+13%+22%+16%−12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ATRO42%50%58%25%83%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ATRO−51%−48%−35%−33%−24%−38%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 86% from June 13, 2019 to October 30, 2020. Getting back needed a 591% gain, reached on December 22, 2025, 1879 days after the low.

Price behaviour

52-week range
$37.49 – $93.45
From 52-week high
−35.8%
vs 50-day average
−11.2%
vs 200-day average
−9.4%
Volatility (1 year)
55%
Beta vs S&P 500
2.03

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
9 up, 3 down
typical move ±9.5%
After a week
8 up, 4 down
typical move ±11.0%
After a month
8 up, 4 down
typical move ±15.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 11, 2026 +16.5% −0.1% +14.1% −2.6%
May 12, 2026 +5.7% +0.4% +4.7% +25.1%
February 24, 2026 +3.3% +1.6% −0.8% −10.4%
February 5, 2026 +3.0% +0.6% +2.0% 0.0%
January 14, 2026 +7.5% −0.2% +12.8% +14.2%
January 8, 2026 +13.6% +0.7% +24.3% +33.4%
November 4, 2025 −2.9% −0.8% −1.6% +4.4%
August 6, 2025 −16.3% +0.7% −4.4% +7.9%
May 6, 2025 +14.9% −0.4% +24.9% +35.5%
March 4, 2025 +24.8% −0.1% +23.2% +23.3%
January 10, 2025 +3.7% −1.4% +8.4% +20.3%
November 6, 2024 −2.4% +3.3% −11.2% −11.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Astronics Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Astronics Corp
$600M $700M $800M $900M $1B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $652.1M Revenue (TTM), FY23 Q4: $689.2M Revenue (TTM), FY24 Q1: $717.7M Revenue (TTM), FY24 Q2: $741.4M Revenue (TTM), FY24 Q3: $782.2M Revenue (TTM), FY24 Q4: $795.4M Revenue (TTM), FY25 Q1: $816.3M Revenue (TTM), FY25 Q2: $822.9M Revenue (TTM), FY25 Q3: $830.6M Revenue (TTM), FY25 Q4: $862.1M Revenue (TTM), FY26 Q1: $886.8M Revenue (TTM), FY26 Q2: $942.1M $942.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $652.1M
FY23 Q4 $689.2M
FY24 Q1 $717.7M
FY24 Q2 $741.4M
FY24 Q3 $782.2M
FY24 Q4 $795.4M
FY25 Q1 $816.3M
FY25 Q2 $822.9M
FY25 Q3 $830.6M
FY25 Q4 $862.1M
FY26 Q1 $886.8M
FY26 Q2 $942.1M
Revenue growth, TTM YoY Astronics Corp
0% 10% 20% 30% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 32.3% Revenue growth, TTM YoY, FY23 Q4: 28.8% Revenue growth, TTM YoY, FY24 Q1: 24.8% Revenue growth, TTM YoY, FY24 Q2: 19.5% Revenue growth, TTM YoY, FY24 Q3: 20.0% Revenue growth, TTM YoY, FY24 Q4: 15.4% Revenue growth, TTM YoY, FY25 Q1: 13.7% Revenue growth, TTM YoY, FY25 Q2: 11.0% Revenue growth, TTM YoY, FY25 Q3: 6.2% Revenue growth, TTM YoY, FY25 Q4: 8.4% Revenue growth, TTM YoY, FY26 Q1: 8.6% Revenue growth, TTM YoY, FY26 Q2: 14.5% 14.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 32.3%
FY23 Q4 28.8%
FY24 Q1 24.8%
FY24 Q2 19.5%
FY24 Q3 20.0%
FY24 Q4 15.4%
FY25 Q1 13.7%
FY25 Q2 11.0%
FY25 Q3 6.2%
FY25 Q4 8.4%
FY26 Q1 8.6%
FY26 Q2 14.5%
Operating margin (TTM) Astronics Corp
-5% 0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -2.7% Operating margin (TTM), FY23 Q4: -1.0% Operating margin (TTM), FY24 Q1: -0.4% Operating margin (TTM), FY24 Q2: 0.3% Operating margin (TTM), FY24 Q3: 3.2% Operating margin (TTM), FY24 Q4: 3.3% Operating margin (TTM), FY25 Q1: 4.6% Operating margin (TTM), FY25 Q2: 4.3% Operating margin (TTM), FY25 Q3: 6.0% Operating margin (TTM), FY25 Q4: 8.9% Operating margin (TTM), FY26 Q1: 10.2% Operating margin (TTM), FY26 Q2: 13.4% 13.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -2.7%
FY23 Q4 -1.0%
FY24 Q1 -0.4%
FY24 Q2 0.3%
FY24 Q3 3.2%
FY24 Q4 3.3%
FY25 Q1 4.6%
FY25 Q2 4.3%
FY25 Q3 6.0%
FY25 Q4 8.9%
FY26 Q1 10.2%
FY26 Q2 13.4%
FCF margin (TTM) Astronics Corp
-5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -3.2% FCF margin (TTM), FY23 Q4: -4.6% FCF margin (TTM), FY24 Q1: -1.4% FCF margin (TTM), FY24 Q2: -1.9% FCF margin (TTM), FY24 Q3: -0.6% FCF margin (TTM), FY24 Q4: 2.8% FCF margin (TTM), FY25 Q1: 4.9% FCF margin (TTM), FY25 Q2: 4.4% FCF margin (TTM), FY25 Q3: 6.1% FCF margin (TTM), FY25 Q4: 5.0% FCF margin (TTM), FY26 Q1: 2.7% FCF margin (TTM), FY26 Q2: 6.4% 6.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -3.2%
FY23 Q4 -4.6%
FY24 Q1 -1.4%
FY24 Q2 -1.9%
FY24 Q3 -0.6%
FY24 Q4 2.8%
FY25 Q1 4.9%
FY25 Q2 4.4%
FY25 Q3 6.1%
FY25 Q4 5.0%
FY26 Q1 2.7%
FY26 Q2 6.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Astronics took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $862M
  2. Cost of revenue $604M · 70.1%
  3. Gross profit $258M · 29.9%
  4. Research and development $43.5M · 5.0%
  5. Selling, general and admin $138M · 16.0%
  6. Operating income $76.4M · 8.9%
  7. Interest and other $44.5M · 5.2%
  8. Net income $29.4M · 3.4%

Shares of revenue. Source: Astronics's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jul 2026
Income
Revenue 191 196 228 266 340 661 692 633 624 803 773 503 445 535 689 795 862 942
Gross profit 37 48 60 69 88 167 188 159 137 181 156 97 65 72 175 220 258 307
EBITDA 1 29 36 40 53 115 124 101 59 99 35 −69 0 −2 19 51 98 149
Operating income −6 24 31 33 42 87 99 75 32 64 2 −101 −29 −30 −7 26 76 126
Net income −4 15 22 22 27 56 67 48 20 47 52 −116 −26 −36 −26 −16 29 79
Diluted EPS −$0.32 $0.45 $0.64 $0.64 $0.79 $1.58 $2.22 $1.40 $0.58 $1.41 $1.60 −$3.76 −$0.82 −$1.11 −$0.80 −$0.46 $0.81 —
Growth (year on year)
Revenue — +2.4% +16.6% +16.8% +27.6% +94.5% +4.7% −8.5% −1.4% +28.6% −3.8% −35.0% −11.5% +20.2% +28.8% +15.4% +8.4% +14.5%
EBITDA — — +22.2% +10.5% +35.0% +114.8% +8.3% −18.9% −41.2% +66.8% −64.8% −298.1% — — — +162.1% +92.9% +157.2%
Operating income — — +26.4% +5.9% +29.7% +106.5% +13.1% −24.2% −57.1% +98.3% −97.3% — — — — — +188.7% +259.1%
Net income — — +44.4% +1.3% +24.7% +106.0% +19.2% −27.7% −59.4% +137.8% +11.1% −322.6% — — — — — —
Diluted EPS — — +43.9% −0.7% +24.2% +99.1% +40.3% −36.9% −58.6% +143.1% +13.5% −335.0% — — — — — —
Margins
Gross margin 19.5% 24.3% 26.5% 26.1% 25.8% 25.3% 27.1% 25.2% 22.0% 22.5% 20.2% 19.3% 14.7% 13.4% 25.3% 27.7% 29.9% 32.5%
EBITDA margin 0.6% 14.9% 15.7% 14.8% 15.7% 17.3% 17.9% 15.9% 9.5% 12.3% 4.5% −13.7% 0.1% −0.4% 2.8% 6.4% 11.4% 15.8%
Operating margin −3.2% 12.5% 13.5% 12.2% 12.4% 13.2% 14.3% 11.8% 5.1% 7.9% 0.2% −20.0% −6.4% −5.6% −1.0% 3.3% 8.9% 13.4%
Net margin −2.0% 7.6% 9.5% 8.2% 8.0% 8.5% 9.7% 7.6% 3.2% 5.8% 6.7% −23.0% −5.7% −6.7% −3.8% −2.0% 3.4% 8.4%
Free-cash-flow margin 15.0% 6.6% 6.0% 2.8% 12.6% 8.9% 8.6% 5.7% 3.9% 4.8% 4.0% 5.9% −2.6% −6.7% −4.6% 2.8% 5.0% 6.4%
Cash flow
Cash from operations 31 17 28 24 50 100 79 49 38 55 43 37 −6 −28 −24 31 75 103
Capital spending 2 4 14 17 7 41 19 13 13 16 12 7 6 8 8 8 32 42
Free cash flow 29 13 14 7 43 59 60 36 24 39 31 30 −12 −36 −32 22 43 61
Stock-based pay 1 1 1 1 1 2 2 2 3 3 4 5 6 6 7 9 7 8
Free cash flow after stock pay 28 12 13 6 41 57 58 34 22 35 27 25 −18 −42 −39 14 36 53
Balance sheet
Cash 15 23 11 7 55 21 19 18 18 17 32 40 30 14 5 9 18 9
Total debt 0 — 33 30 200 183 170 148 272 234 188 173 163 164 168 169 334 310
Net debt (negative = net cash) −15 −23 22 23 146 162 151 130 254 217 156 133 133 150 163 159 316 301
Diluted shares — 33m 33m 34m 34m 35m 36m 35m 34m 33m 32m 31m 31m 32m 33m 35m 36m —
Returned to shareholders
Dividends — — — 0 0 0 — — — — — — — — — — — —
Buybacks — — — — — 0 0 18 32 0 51 8 0 0 — — — —
Total returned — — — 0 0 0 0 18 32 0 51 8 0 0 — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · July 4, 2026
What it owns · $761m
Short-term assets $486mLonger-term assets $275m
What it owes, and who funded it · $761m
Short-term liabilities $163mLonger-term liabilities $399mShareholders' equity $198m
  • Short-term assets cover short-term liabilities $486m of assets due within a year against $163m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $486m short-term assets against $399m of longer-dated liabilities.
  • More cash than debt $9m of cash against $310m of debt.
  • Debt below 40% of shareholders' equity Debt is 157% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 64% to 157% over five years.
  • A year's operating cash flow covers at least 20% of debt $103m of operating cash flow against $310m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Astronics Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+5.9%
year over year
R&D spending
4.6%
of revenue
Sales & admin spending
14.5%
of revenue
Days sales outstanding
89 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in aerospace & defense
Last 12 months unless stated ATRO DCO RKLB CDRE KRMN LOAR Median
Revenue, last 12 months $942m $865m $769m $686m $590m $586m $769m
Revenue growth, last 12 months 14.5% 9.2% 52.5% 19.7% 50.2% 29.8% 15.5%
Revenue growth, 3-year average 14.9% 5.2% 49.2% 13.6% — — 12.6%
Revenue growth, latest quarter 27.0% 11.8% 62.0% 31.8% 58.2% 39.4% 15.8%
Gross margin 32.5% 27.4% 37.3% 41.8% 41.7% 52.2% 27.8%
Operating margin 13.4% −1.7% −29.1% 10.1% 16.8% 21.9% 9.0%
Operating margin, 3-year average 6.0% 2.9% −42.0% 10.9% — 21.8% 6.0%
Net margin 8.4% −2.5% −21.5% 5.3% 6.3% 11.6% 5.5%
Cash from operations / revenue 10.9% −1.4% −28.9% 12.9% 1.0% 20.7% 5.5%
Free-cash-flow margin 6.4% −2.8% −48.3% 11.4% −4.7% 18.5% 3.4%
Free-cash-flow margin, 3-year average 3.0% 1.9% −44.8% 8.9% — 13.8% 3.0%
Stock pay / revenue 0.8% 3.0% 10.6% 1.8% 3.9% 2.9% 1.2%
Change in share count 5.9% 1.7% 15.7% 9.0% −11.4% — 3.9%

Median of all 57 companies we cover in aerospace & defense. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 aerospace & defense companies
Measure Company Peer median Rank
Revenue growth Growth 14.5% 15.5% 30 of 57
Change in growth rate Growth +5.9pp +2.2pp 16 of 57
Gross margin Profitability 32.5% 28.3% 21 of 46
Operating margin Profitability 13.4% 8.5% 11 of 51
Net margin Profitability 8.4% 5.5% 20 of 57
Free-cash-flow margin Cash generation 6.4% 3.4% 24 of 57
Stock pay as % of revenue Cash generation 0.8% 1.5% 21 of 53
Long-term debt as % of assets Balance sheet 40.8% 22.1% 44 of 47
Change in share count Balance sheet 5.9% 2.4% 32 of 51
Days sales outstanding Balance sheet 89 days 53 days 38 of 45

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Aerospace $797M 92.5% ▲ 12.8%
Test Systems $64.8M 7.5% ▼ 27.0%
Geography
Region Revenue Share YoY
United States $615M 71.3% ▲ 3.6%
Europe $153M 17.8% ▲ 10.1%
Outside the US $90.1M 10.4% ▲ 9.7%
Asia $73.3M 81.3% ▲ 65.8%
North America Excluding United States $14.6M 16.2% ▲ 11.7%
South America $2.1M 2.3% ▲ 46.5%
Other Continent $3.6M 0.4% ▲ 7.4%

From Astronics Corp's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.5B
Institutions reporting
310
Shares held vs prior quarter
▲ 0.3%
Positions opened / closed
52 / 36

Top buyers and sellers, Q2 2026: 167 institutions bought and 139 sold ; the biggest buyer was Westwood Holdings Group Inc (+430K shares) and the biggest seller Hennessy Advisors Inc (−378K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $248M 3.1M 9.8% ▲ 8.2%
State Street Corp $167M 2.1M 6.6% ▼ 12.7%
American Century Companies Inc $117M 1.4M 4.6% ▼ 17.3%
Vanguard Capital Management LLC $115M 1.4M 4.5% ▲ 2.2%
Capital International Investors $108M 1.3M 4.2% ▲ 2.8%
Geode Capital Management, LLC $84.6M 1.0M 3.3% ▲ 17.4%
Pertento Partners LLP $80.7M 994K 3.2% ▲ 21.9%
Next Century Growth Investors LLC $60.4M 743K 2.4% ▼ 5.5%
Ameriprise Financial Inc $57.7M 710K 2.3% ▲ 57.5%
Dimensional Fund Advisors LP $55M 677K 2.2% ▲ 0.5%
Capital World Investors $46.9M 577K 1.8% ▲ 2.8%
Emerald Advisers, LLC $41.8M 514K 1.6% ▲ 14.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Astronics Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $518,238 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $518,238 net selling
Insider Date Trade Shares Price Value
Mulato James 10% owner December 1, 2025 Sell 9,734 $53.24 $518,238

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 21, 2026 estimated from the company's past filing pattern, not announced

  • August 11, 2026
  • May 12, 2026
  • February 24, 2026
  • February 5, 2026
  • January 14, 2026
  • January 8, 2026

Recent SEC filings

Data status

When each part of this page on Astronics Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Astronics Corp in brief

What does Astronics Corp do?
Astronics Corp is a US-listed company in the aerospace & defense industry. Its financial year ends in December.
What is Astronics Corp's stock ticker?
Astronics Corp trades under the ticker ATRO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Astronics Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Astronics Corp reported revenue of $942M, 14.5% higher than a year earlier, according to its SEC filings.
What is Astronics Corp's free cash flow?
Astronics Corp's free-cash-flow margin is 6.4% of revenue over the trailing twelve months, ranking 24 of the 57 aerospace & defense companies we cover.
Who are Astronics Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., State Street Corp and American Century Companies Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Astronics Corp's market cap?
On December 31, 2025, Astronics Corp's market capitalisation was about $1.6B, with a price-to-earnings ratio of 53.8 and net debt of $316M. Market figures come from third-party market data and may be delayed.
How much debt does Astronics Corp have?
Astronics Corp's debt-to-equity ratio is 156.6%, from its latest balance sheet (63.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Astronics Corp's competitors?
In our Aerospace & Defense peer group, the companies closest to Astronics Corp are Ducommun Inc, Rocket Lab Corp, Cadre Holdings, Inc., Karman Holdings Inc. and Loar Holdings Inc. The side-by-side comparison below sets their revenue, margins and growth against Astronics Corp's.
Are insiders buying or selling Astronics Corp stock?
Over the last 12 months, Astronics Corp's directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Astronics Corp's next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Astronics Corp announces its own schedule.