Astronics Corp (ATROB) stock analysis
Close on Oct 19, 2026Market cap $2.94BP/E 33.4Yield –
StockData Score
Prices as of Oct 30, 2026How the score works
Mixed9 of 30 checks passed
Astronics passes 9 of the 30 checks behind our score; 16 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 3/6
- Past performance
- 4/6
- Financial health
- 2/6
- Dividend
- 0/6
What stands out
Return on capital over 10%
Return on invested capital was 26.4%, above the 10% that usually covers the cost of capital.
Revenue growing 10%+ a year
Revenue grew 17.2% a year over the last three fiscal years.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 33.0% of total debt.
Guidance raised
Astronics raised its 2026 revenue outlook on Aug 11, 2026.
What to watch
Return on equity under 15%
Return on equity was 33.7% over the last twelve months and averaged -5.3% over five years; we look for 15% on both.
High debt
Debt is 157% of shareholders' equity, above the 40% we consider low.
Growing slower than the industry
Revenue grew 14.5% over the last twelve months; the Aircraft and Parts median is 15.4%.
Debt rising against equity
Debt to equity rose from 64.0% five years ago to 157%.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 17.2% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing slower than the industry
Revenue grew 14.5% over the last twelve months; the Aircraft and Parts median is 15.4%.
Guidance raised
Astronics raised its 2026 revenue outlook on Aug 11, 2026.
Gross margin improving
Gross margin was 32.5% over the last twelve months, against 28.1% a year earlier.
Past performance4/6
Return on equity under 15%
Return on equity was 33.7% over the last twelve months and averaged -5.3% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 26.4%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
Astronics's return on equity of 33.7% is above the Aircraft and Parts median of 9.5%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 8.4% over the last twelve months, against a 5-year average of -3.0%.
Net margin above the industry
Astronics's net margin of 8.4% is above the Aircraft and Parts median of 5.1%.
Financial health2/6
High debt
Debt is 157% of shareholders' equity, above the 40% we consider low.
Debt rising against equity
Debt to equity rose from 64.0% five years ago to 157%.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 33.0% of total debt.
Interest coverage
Interest expense is not reported separately.
Short-term assets cover short-term debts
Current assets are 2.97 times current liabilities.
Bankruptcy risk (Altman Z)
Needs market value, working capital and retained earnings.
Dividend0/6
No dividend
Astronics has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Astronics. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Aircraft and Parts median 31.4
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.4% | +17.2% | +11.4% | +2.2% | |
| Gross profit | +17.1% | +53.4% | +21.7% | +3.2% | |
| Operating income | +188.7% | – | – | -2.5% | |
| Net income | – | – | – | -7.9% | |
| EPS, diluted | – | – | – | -9.6% | |
| Free cash flow | +94.8% | – | +7.6% | -3.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 15.2% | -35.1% | 14.8% | |
| Return on assets | 8.0% | -16.5% | 4.3% | |
| Current ratio | 2.95 | 3.38 | 3.10 | |
| Debt to equity | 0.44 | 0.64 | 2.39 | |
| Net debt to EBITDA | 1.29× | -1.93× | 3.22× | |
| Inventory turnover | 4.1× | 2.7× | 3.0× | |
| Capex to revenue | 2.1% | 1.5% | 3.7% | |
| Diluted shares | 35M | 31M | 36M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Astronics generated $163.15M from operations and spent $61.45M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 3.4% | 1.27× | 3.42× | 14.8% |
| FY2024 | -2.0% | 1.24× | 2.54× | -6.4% |
| FY2023 | -3.8% | 1.10× | 2.55× | -10.8% |
| FY2022 | -6.7% | 0.87× | 2.47× | -14.4% |
| FY2021 | -5.7% | 0.72× | 2.33× | -9.7% |
| FY2020 | -23.0% | 0.72× | 2.13× | -35.1% |
| FY2019 | 6.7% | 0.99× | 2.01× | 13.4% |
| FY2018 | 5.8% | 1.06× | 2.11× | 13.1% |
| FY2017 | 3.2% | 0.93× | 2.01× | 5.9% |
| FY2016 | 7.6% | 1.04× | 1.90× | 15.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$29.36M
- Cash generatingOperating cash flow above zero$74.80M
- Return on assets improvedROA up on the prior year-2.6% → 4.5%
- Earnings backed by cashOperating cash flow above net income$74.80M vs $29.36M
- Less leverageLong-term debt to assets fell26.0% → 47.3%
- Better liquidityCurrent ratio rose2.73 → 3.10
- No dilutionShare count did not rise35M → 36M
- Gross margin improvedGross margin up on the prior year27.71% → 29.94%
- More efficientAsset turnover rose1.26 → 1.33