Howmet Aerospace (HWM) Financials

$154.27 +0.20 (+0.13%)

Closing price 03:59 PM Eastern

Extended Trading

$156.07 +1.80 (+1.17%)

As of 06:31 PM Eastern

Annual Income Statements for Howmet Aerospace

This table shows Howmet Aerospace's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-322	-941	-74	642	470	261	256	467	763	1,153
Consolidated Net Income / (Loss)	-197	-878	-74	642	470	261	258	469	765	1,155
Net Income / (Loss) Continuing Operations	-156	-1,062	-74	309	126	211	258	469	765	1,155
Total Pre-Tax Income	183	414	470	428	210	171	324	606	975	1,383
Total Operating Income	628	954	480	775	579	626	748	919	1,203	1,633
Total Gross Profit	2,309	2,698	2,739	1,664	1,884	1,381	1,376	1,560	1,867	2,311
Total Revenue	12,413	12,394	12,960	6,778	7,098	5,259	4,972	5,663	6,640	7,430
Operating Revenue	12,413	12,394	12,960	6,778	7,098	5,259	4,972	5,663	6,640	7,430
Total Cost of Revenue	10,104	9,696	10,221	5,114	5,214	3,878	3,596	4,103	4,773	5,119
Operating Cost of Revenue	10,104	9,696	10,221	5,114	5,214	3,878	3,596	4,103	4,773	5,119
Total Operating Expenses	1,681	1,744	2,259	889	1,305	755	628	641	664	678
Selling, General & Admin Expense	765	924	715	371	400	277	251	288	333	347
Research & Development Expense	169	130	109	41	28	17	17	32	36	33
Depreciation Expense	508	535	551	314	295	279	270	265	272	277
Restructuring Charge	214	155	165	163	582	182	90	56	23	21
Total Other Income / (Expense), net	-445	-540	-10	-347	-369	-455	-424	-313	-228	-250
Interest Expense	473	499	496	377	338	381	405	2.00	2.00	6.00
Interest & Investment Income	-	-	-	-	-	-	-	-229	-218	-182
Other Income / (Expense), net	28	-41	486	30	-31	-74	-19	-82	-8.00	-62
Income Tax Expense	339	1,476	544	119	84	-40	66	137	210	228
Basic Earnings per Share	($0.93)	($2.31)	($0.28)	-	-	-	$0.60	$1.12	$1.85	$2.83
Weighted Average Basic Shares Outstanding	346.20M	407.40M	451M	483M	446M	435M	430M	416M	412M	408M
Diluted Earnings per Share	($0.93)	($2.31)	-	-	-	-	$0.59	$1.11	$1.83	$2.81
Weighted Average Diluted Shares Outstanding	346.20M	407.40M	451M	503M	463M	439M	435M	421M	416M	410M
Weighted Average Basic & Diluted Shares Outstanding	346.20M	407.40M	264.30M	483M	435.92M	433.61M	418.90M	412.28M	410.30M	405.02M
Cash Dividends to Common per Share	$0.36	$0.36	$0.24	$0.24	$0.12	$0.02	-	$0.10	$0.17	$0.26

This table shows Howmet Aerospace's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	80	109	147	193	187	236	242	266	331	314
Consolidated Net Income / (Loss)	80	111	148	193	188	236	243	266	332	314
Net Income / (Loss) Continuing Operations	80	111	148	193	188	236	243	266	332	314
Total Pre-Tax Income	104	148	220	243	242	270	303	334	354	392
Total Operating Income	228	220	285	285	307	326	369	398	421	445
Total Gross Profit	377	403	439	452	475	501	534	593	582	602
Total Revenue	1,433	1,513	1,603	1,648	1,658	1,731	1,824	1,880	1,835	1,891
Operating Revenue	1,433	1,513	1,603	1,648	1,658	1,731	1,824	1,880	1,835	1,891
Total Cost of Revenue	1,056	1,110	1,164	1,196	1,183	1,230	1,290	1,287	1,253	1,289
Operating Cost of Revenue	1,056	1,110	1,164	1,196	1,183	1,230	1,290	1,287	1,253	1,289
Total Operating Expenses	149	183	154	167	168	175	165	195	161	157
Selling, General & Admin Expense	73	63	75	88	87	83	88	97	85	77
Research & Development Expense	7.00	9.00	9.00	9.00	9.00	9.00	10	7.00	9.00	7.00
Depreciation Expense	65	67	69	67	68	68	67	69	68	73
Total Other Income / (Expense), net	-124	-72	-65	-42	-65	-56	-66	-64	-67	-53
Interest Expense	57	-172	58	55	0.00	-111	49	49	6.00	-98
Other Income / (Expense), net	-67	-15	-7.00	13	-11	-3.00	-17	-15	-17	-13
Income Tax Expense	24	37	72	50	54	34	60	68	22	78
Basic Earnings per Share	$0.19	$0.27	$0.36	$0.47	$0.45	$0.57	$0.59	$0.65	$0.81	$0.78
Weighted Average Basic Shares Outstanding	415M	416M	412M	413M	412M	412M	410M	408M	408M	408M
Diluted Earnings per Share	$0.19	$0.26	$0.35	$0.46	$0.45	$0.57	$0.59	$0.65	$0.81	$0.76
Weighted Average Diluted Shares Outstanding	420M	421M	418M	417M	415M	416M	412M	411M	410M	410M
Weighted Average Basic & Diluted Shares Outstanding	413.71M	412.28M	413.29M	412.21M	411.74M	410.30M	408.18M	408.15M	406.26M	405.02M

This table details how cash moves in and out of Howmet Aerospace's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	42	-71	266	133	-579	-92	-889	70	-182	-45
Net Cash From Operating Activities	1,582	95	-39	217	461	9.00	449	733	901	1,298
Net Cash From Continuing Operating Activities	-808	95	-39	217	461	9.00	449	733	901	1,298
Net Income / (Loss) Continuing Operations	-197	-878	-74	642	470	261	258	469	765	1,155
Consolidated Net Income / (Loss)	-197	-878	-74	642	470	261	258	469	765	1,155
Depreciation Expense	1,280	1,132	551	576	536	338	270	265	272	277
Non-Cash Adjustments To Reconcile Net Income	1,840	596	767	274	815	327	324	166	137	156
Changes in Operating Assets and Liabilities, net	-1,341	-755	-1,283	-1,275	-1,360	-917	-403	-167	-273	-290
Net Cash From Investing Activities	-1,060	591	1,320	565	528	271	107	-135	-215	-316
Net Cash From Continuing Investing Activities	-1,060	591	1,320	565	528	271	107	-135	-215	-316
Purchase of Property, Plant & Equipment	-1,180	-1,125	-596	-768	-641	-267	-199	-193	-219	-321
Acquisitions	-	-	-9.00	-	-	-	-	0.00	0.00	-5.00
Divestitures	97	10	-	309	103	114	32	58	2.00	9.00
Other Investing Activities, net	5.00	-44	243	-1.00	993	2.00	1.00	0.00	2.00	1.00
Net Cash From Financing Activities	-441	-757	-1,015	-649	-1,568	-369	-1,444	-526	-868	-1,026
Net Cash From Continuing Financing Activities	-441	-757	-1,015	-649	-1,568	-369	-1,444	-526	-868	-1,026
Repayment of Debt	-2,049	-2,741	-1,705	-1,146	-819	-2,203	-1,687	-71	-879	-876
Repurchase of Common Equity	-	-	0.00	0.00	-1,150	-73	-430	-400	-250	-500
Payment of Dividends	-329	-454	-176	-119	-57	-11	-19	-44	-73	-109
Issuance of Debt	1,901	1,962	816	600	402	2,385	691	-5.00	400	500
Other Financing Activities, net	34	425	50	16	56	-467	1.00	-6.00	-66	-41
Effect of Exchange Rate Changes	-39	-	-	-	-	-3.00	-1.00	-2.00	0.00	-1.00

This table details how cash moves in and out of Howmet Aerospace's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-84	338	-254	-2.00	-111	185	-76	218	-277	90
Net Cash From Operating Activities	65	455	23	229	191	458	177	397	244	480
Net Cash From Continuing Operating Activities	65	455	23	229	191	458	177	397	244	480
Net Income / (Loss) Continuing Operations	80	111	148	193	188	236	243	266	332	314
Consolidated Net Income / (Loss)	80	111	148	193	188	236	243	266	332	314
Depreciation Expense	65	67	69	67	68	68	67	69	68	73
Non-Cash Adjustments To Reconcile Net Income	28	54	34	27	34	42	33	67	34	22
Changes in Operating Assets and Liabilities, net	-108	223	-228	-58	-99	112	-166	-5.00	-190	71
Net Cash From Investing Activities	-41	-29	-64	-41	-58	-52	-75	-54	-80	-107
Net Cash From Continuing Investing Activities	-41	-29	-64	-41	-58	-52	-75	-54	-80	-107
Purchase of Property, Plant & Equipment	-42	-45	-64	-41	-59	-55	-82	-55	-82	-102
Net Cash From Financing Activities	-106	-89	-214	-189	-243	-222	-178	-123	-441	-284
Net Cash From Continuing Financing Activities	-106	-89	-214	-189	-243	-222	-178	-123	-441	-284
Repayment of Debt	-	-9.00	-177	-	-200	-502	0.00	-23	-792	-61
Repurchase of Common Equity	-100	-65	-25	-100	-25	-100	-150	-60	-100	-190
Payment of Dividends	-9.00	-17	-17	-18	-17	-21	-21	-21	-34	-33
Effect of Exchange Rate Changes	-2.00	1.00	1.00	-1.00	-1.00	1.00	0.00	-2.00	-	1.00

This table presents Howmet Aerospace's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	36,477	20,038	18,718	18,693	17,562	11,443	10,219	10,255	10,428	10,519
Total Current Assets	7,953	5,892	6,378	6,581	5,843	3,672	2,737	3,143	3,316	3,362
Cash & Equivalents	1,362	1,863	2,150	2,277	1,577	1,610	720	791	610	564
Accounts Receivable	1,354	1,451	1,374	1,498	932	357	420	537	692	709
Inventories, net	2,284	2,253	2,480	2,492	1,607	1,488	1,402	1,609	1,765	1,840
Prepaid Expenses	397	325	374	314	285	217	195	206	249	249
Plant, Property, & Equipment, net	5,425	5,499	5,594	5,704	2,629	2,592	2,467	2,332	2,328	2,386
Total Noncurrent Assets	23,099	8,647	6,746	6,408	9,090	5,179	5,015	4,780	4,784	4,771
Goodwill	5,249	5,148	4,535	4,500	4,067	4,102	4,067	4,013	4,035	4,010
Intangible Assets	-	988	987	919	599	571	549	521	505	475
Noncurrent Deferred & Refundable Income Taxes	1,308	1,234	743	573	209	272	184	54	46	35
Other Noncurrent Operating Assets	1,944	257	481	416	316	234	215	192	198	251
Total Liabilities & Shareholders' Equity	36,477	20,038	18,718	18,693	17,562	11,443	10,219	10,255	10,428	10,519
Total Liabilities	22,346	14,897	13,794	13,108	12,957	7,866	6,711	6,654	6,391	5,965
Total Current Liabilities	5,211	2,749	2,824	3,520	4,125	1,660	1,253	1,482	1,784	1,549
Short-Term Debt	41	40	38	434	1,034	376	5.00	0.00	206	6.00
Accounts Payable	1,510	1,744	1,839	2,129	976	599	732	962	982	948
Current Deferred & Payable Income Tax Liabilities	103	85	75	118	65	102	61	48	68	60
Current Employee Benefit Liabilities	410	398	399	370	285	205	198	195	263	305
Other Current Liabilities	441	329	349	356	229	289	183	202	200	171
Other Current Nonoperating Liabilities	2,706	153	124	113	1,536	89	74	75	65	59
Total Noncurrent Liabilities	17,135	12,148	10,970	9,588	8,832	6,206	5,458	5,172	4,607	4,416
Long-Term Debt	8,786	8,044	6,806	5,896	4,906	4,699	4,227	4,162	3,500	3,309
Noncurrent Deferred Revenue	828	870	759	739	438	324	307	268	351	428
Noncurrent Employee Benefit Liabilities	2,842	3,234	3,405	2,953	1,230	1,183	924	742	756	679
Commitments & Contingencies	0.00	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	14,131	5,141	4,924	5,585	4,605	3,577	3,508	3,601	4,037	4,554
Total Preferred & Common Equity	12,046	5,115	4,910	5,573	4,591	3,577	3,508	3,601	4,037	4,554
Preferred Stock	55	55	55	55	55	55	55	55	55	55
Total Common Equity	11,991	5,060	4,855	5,518	4,536	3,522	3,453	3,546	3,982	4,499
Common Stock	11,410	8,652	8,747	8,802	7,752	5,101	4,713	4,359	4,092	3,611
Retained Earnings	8,834	-1,027	-1,248	-358	113	364	603	1,028	1,720	2,766
Accumulated Other Comprehensive Income / (Loss)	-5,431	-2,568	-2,644	-2,926	-3,329	-1,943	-1,863	-1,841	-1,830	-1,878

This table presents Howmet Aerospace's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Total Assets	9,929	10,255	10,174	10,233	10,166	10,428	10,410	10,679	10,558	10,519
Total Current Assets	2,846	3,143	3,057	3,128	3,111	3,316	3,340	3,603	3,391	3,362
Cash & Equivalents	453	791	537	535	424	610	533	752	475	564
Accounts Receivable	600	537	671	671	727	692	803	768	775	709
Inventories, net	1,612	1,609	1,662	1,715	1,748	1,765	1,783	1,848	1,902	1,840
Prepaid Expenses	181	206	187	207	212	249	221	235	239	249
Plant, Property, & Equipment, net	2,288	2,332	2,321	2,319	2,296	2,328	2,294	2,307	2,358	2,386
Total Noncurrent Assets	4,795	4,780	4,796	4,786	4,759	4,784	4,776	4,769	4,809	4,771
Goodwill	3,965	4,013	4,024	4,026	4,007	4,035	4,020	4,016	4,047	4,010
Intangible Assets	523	521	518	513	507	505	498	489	484	475
Noncurrent Deferred & Refundable Income Taxes	106	54	59	52	45	46	38	32	39	35
Other Noncurrent Operating Assets	201	192	195	195	200	198	220	232	239	251
Total Liabilities & Shareholders' Equity	9,929	10,255	10,174	10,233	10,166	10,428	10,410	10,679	10,558	10,519
Total Liabilities	6,656	6,654	6,413	6,458	6,294	6,391	6,324	6,402	6,055	5,965
Total Current Liabilities	1,381	1,482	1,403	1,410	1,454	1,784	1,698	2,358	1,517	1,549
Short-Term Debt	1.00	0.00	-	-	-	206	206	782	1.00	6.00
Accounts Payable	812	962	877	881	894	982	964	971	917	948
Current Deferred & Payable Income Tax Liabilities	56	48	64	78	73	68	84	81	59	60
Current Employee Benefit Liabilities	204	195	193	209	240	263	201	235	288	305
Other Current Liabilities	240	202	206	169	189	200	198	225	227	171
Other Current Nonoperating Liabilities	68	75	63	73	58	65	45	64	25	59
Total Noncurrent Liabilities	5,275	5,172	5,010	5,048	4,840	4,607	4,626	4,044	4,538	4,416
Long-Term Debt	4,170	4,162	3,988	3,989	3,794	3,500	3,486	2,877	3,393	3,309
Noncurrent Deferred Revenue	269	268	289	327	330	351	387	432	432	428
Noncurrent Employee Benefit Liabilities	836	742	733	732	716	756	753	735	713	679
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,273	3,601	3,761	3,775	3,872	4,037	4,086	4,277	4,503	4,554
Total Preferred & Common Equity	3,273	3,601	3,761	3,775	3,872	4,037	4,086	4,277	4,503	4,554
Preferred Stock	55	55	55	55	55	55	55	55	55	55
Total Common Equity	3,218	3,546	3,706	3,720	3,817	3,982	4,031	4,222	4,448	4,499
Common Stock	4,412	4,359	4,353	4,194	4,182	4,092	3,950	3,894	3,793	3,611
Retained Earnings	917	1,028	1,159	1,334	1,485	1,720	1,942	2,186	2,453	2,766
Accumulated Other Comprehensive Income / (Loss)	-2,111	-1,841	-1,806	-1,808	-1,850	-1,830	-1,861	-1,858	-1,798	-1,878

This table displays calculated financial ratios and metrics derived from Howmet Aerospace's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.03%	-0.15%	4.57%	-47.70%	4.72%	-25.91%	-5.46%	13.90%	17.25%	11.90%
EBITDA Growth	0.47%	5.63%	-25.82%	-8.97%	-21.51%	-17.90%	12.25%	10.31%	33.12%	25.97%
EBIT Growth	18.20%	39.18%	5.81%	-16.67%	-31.93%	0.73%	32.07%	14.81%	42.77%	31.46%
NOPAT Growth	-80.31%	-357.13%	96.91%	840.36%	-37.91%	122.35%	-22.89%	19.41%	32.71%	44.49%
Net Income Growth	-211.30%	-345.69%	91.57%	967.57%	-26.79%	-44.47%	-1.15%	81.78%	63.11%	50.98%
EPS Growth	-211.30%	-148.39%	0.00%	0.00%	0.00%	0.00%	0.00%	88.14%	64.86%	53.55%
Operating Cash Flow Growth	-5.50%	-93.99%	-141.05%	656.41%	112.44%	-98.05%	4,888.89%	63.25%	22.92%	44.06%
Free Cash Flow Firm Growth	559.27%	-114.94%	160.74%	-18.73%	386.34%	-60.32%	-40.45%	19.86%	4.57%	51.07%
Invested Capital Growth	-40.34%	-11.26%	-7.17%	0.09%	-23.90%	-3.91%	-0.52%	-0.66%	2.14%	2.31%
Revenue Q/Q Growth	0.90%	172.34%	2.40%	-50.93%	109.44%	32.60%	0.95%	4.20%	3.39%	2.20%
EBITDA Q/Q Growth	-22.22%	49.71%	-24.53%	20.72%	29.67%	-5.82%	-0.60%	6.17%	8.83%	6.57%
EBIT Q/Q Growth	-45.06%	753.27%	-31.29%	39.76%	95.71%	1.28%	-0.82%	8.28%	10.96%	7.46%
NOPAT Q/Q Growth	-182.70%	-3,367.31%	90.32%	160.69%	118.63%	88.75%	-19.96%	3.59%	14.68%	5.47%
Net Income Q/Q Growth	-128.89%	-125.13%	87.67%	311.88%	24.01%	-43.75%	-10.10%	7.82%	19.53%	7.24%
EPS Q/Q Growth	-128.89%	-162.50%	0.00%	0.00%	0.00%	0.00%	-11.94%	5.71%	20.39%	7.25%
Operating Cash Flow Q/Q Growth	-27.26%	-91.15%	91.98%	73.60%	4.06%	-97.02%	51.18%	26.16%	0.33%	1.72%
Free Cash Flow Firm Q/Q Growth	824.74%	-204.14%	-91.20%	591.70%	326.41%	-63.59%	-25.68%	-9.37%	36.22%	4.51%
Invested Capital Q/Q Growth	-42.54%	-46.42%	-12.27%	-5.27%	-24.47%	-2.53%	-1.60%	-0.17%	-1.40%	-1.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	18.60%	21.77%	21.13%	24.55%	26.54%	26.26%	27.68%	27.55%	28.12%	31.10%
EBITDA Margin	15.60%	16.50%	11.71%	20.37%	15.27%	16.92%	20.09%	19.46%	22.09%	24.87%
Operating Margin	5.06%	7.70%	3.70%	11.43%	8.16%	11.90%	15.04%	16.23%	18.12%	21.98%
EBIT Margin	5.28%	7.37%	7.45%	11.88%	7.72%	10.50%	14.66%	14.78%	18.00%	21.14%
Profit (Net Income) Margin	-1.59%	-7.08%	-0.57%	9.47%	6.62%	4.96%	5.19%	8.28%	11.52%	15.55%
Tax Burden Percent	-107.65%	-212.08%	-15.74%	150.00%	223.81%	152.63%	79.63%	77.39%	78.46%	83.51%
Interest Burden Percent	27.90%	45.35%	48.65%	53.17%	38.32%	30.98%	44.44%	72.40%	81.59%	88.03%
Effective Tax Rate	185.25%	356.52%	115.74%	27.80%	40.00%	-23.39%	20.37%	22.61%	21.54%	16.49%
Return on Invested Capital (ROIC)	-3.38%	-21.93%	-0.75%	5.74%	4.05%	10.62%	8.37%	10.06%	13.25%	18.73%
ROIC Less NNEP Spread (ROIC-NNEP)	21.43%	80.97%	-0.72%	7.58%	7.56%	-5.44%	-1.08%	3.17%	7.84%	11.74%
Return on Net Nonoperating Assets (RNNOA)	2.02%	12.81%	-0.72%	6.48%	5.18%	-4.24%	-1.09%	3.14%	6.78%	8.16%
Return on Equity (ROE)	-1.36%	-9.11%	-1.47%	12.22%	9.22%	6.38%	7.28%	13.19%	20.03%	26.89%
Cash Return on Invested Capital (CROIC)	47.15%	-9.99%	6.69%	5.65%	31.18%	14.60%	8.89%	10.72%	11.13%	16.45%
Operating Return on Assets (OROA)	1.78%	3.23%	4.99%	4.30%	3.02%	3.81%	6.73%	8.18%	11.56%	15.00%
Return on Assets (ROA)	-0.53%	-3.11%	-0.38%	3.43%	2.59%	1.80%	2.38%	4.58%	7.40%	11.03%
Return on Common Equity (ROCE)	-1.14%	-8.06%	-1.45%	12.06%	9.10%	6.28%	7.17%	12.99%	19.74%	26.54%
Return on Equity Simple (ROE_SIMPLE)	-1.64%	-17.17%	-1.51%	11.52%	10.24%	7.30%	7.35%	13.02%	18.95%	25.36%
Net Operating Profit after Tax (NOPAT)	-535	-2,447	-76	560	347	772	596	711	944	1,364
NOPAT Margin	-4.31%	-19.75%	-0.58%	8.26%	4.89%	14.69%	11.98%	12.56%	14.22%	18.36%
Net Nonoperating Expense Percent (NNEP)	-24.81%	-102.90%	-0.03%	-1.84%	-3.51%	16.06%	9.46%	6.89%	5.42%	6.99%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	9.16%	12.19%	17.33%
Cost of Revenue to Revenue	81.40%	78.23%	78.87%	75.45%	73.46%	73.74%	72.33%	72.45%	71.88%	68.90%
SG&A Expenses to Revenue	6.16%	7.46%	5.52%	5.47%	5.64%	5.27%	5.05%	5.09%	5.02%	4.67%
R&D to Revenue	1.36%	1.05%	0.84%	0.60%	0.39%	0.32%	0.34%	0.57%	0.54%	0.44%
Operating Expenses to Revenue	13.54%	14.07%	17.43%	13.12%	18.39%	14.36%	12.63%	11.32%	10.00%	9.13%
Earnings before Interest and Taxes (EBIT)	656	913	966	805	548	552	729	837	1,195	1,571
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,936	2,045	1,517	1,381	1,084	890	999	1,102	1,467	1,848
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.02	1.55	2.63	1.45	2.91	3.48	3.90	4.56	5.57	9.87
Price to Tangible Book Value (P/TBV)	1.82	0.00	0.00	80.95	0.00	0.00	0.00	0.00	0.00	3,171.31
Price to Revenue (P/Rev)	0.99	0.63	0.98	1.18	1.86	2.33	2.71	2.86	3.34	5.98
Price to Earnings (P/E)	0.00	0.00	0.00	12.48	28.04	46.93	52.65	34.65	29.09	38.51
Dividend Yield	1.28%	2.02%	0.91%	1.45%	0.39%	11.42%	0.13%	0.26%	0.32%	0.24%
Earnings Yield	0.00%	0.00%	0.00%	8.01%	3.57%	2.13%	1.90%	2.89%	3.44%	2.60%
Enterprise Value to Invested Capital (EV/IC)	1.85	1.25	1.80	1.24	2.37	2.21	2.40	2.78	3.52	6.41
Enterprise Value to Revenue (EV/Rev)	1.76	1.06	1.35	1.79	2.48	3.00	3.43	3.46	3.82	6.35
Enterprise Value to EBITDA (EV/EBITDA)	11.30	6.41	11.55	8.79	16.25	17.72	17.06	17.79	17.28	25.54
Enterprise Value to EBIT (EV/EBIT)	33.34	14.36	18.14	15.07	32.13	28.57	23.38	23.43	21.21	30.05
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	21.69	50.69	20.42	28.62	27.57	26.86	34.61
Enterprise Value to Operating Cash Flow (EV/OCF)	13.83	138.03	0.00	55.92	38.20	1,752.14	37.96	26.75	28.13	36.37
Enterprise Value to Free Cash Flow (EV/FCFF)	2.93	0.00	25.86	22.04	6.58	14.84	26.94	25.86	31.97	39.41
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.62	1.57	1.39	1.13	1.29	1.42	1.21	1.16	0.92	0.73
Long-Term Debt to Equity	0.62	1.56	1.38	1.06	1.07	1.31	1.21	1.16	0.87	0.73
Financial Leverage	0.09	0.16	1.01	0.85	0.69	0.78	1.01	0.99	0.87	0.70
Leverage Ratio	2.55	2.93	3.85	3.56	3.56	3.55	3.06	2.88	2.71	2.44
Compound Leverage Factor	0.71	1.33	1.87	1.89	1.36	1.10	1.36	2.09	2.21	2.15
Debt to Total Capital	38.45%	61.13%	58.16%	53.13%	56.33%	58.66%	54.68%	53.61%	47.86%	42.13%
Short-Term Debt to Total Capital	0.18%	0.30%	0.32%	3.64%	9.81%	4.35%	0.06%	0.00%	2.66%	0.08%
Long-Term Debt to Total Capital	38.27%	60.82%	57.83%	49.48%	46.52%	54.31%	54.61%	53.61%	45.20%	42.05%
Preferred Equity to Total Capital	0.24%	0.42%	0.47%	0.46%	0.52%	0.64%	0.71%	0.71%	0.71%	0.70%
Noncontrolling Interests to Total Capital	9.08%	0.20%	0.12%	0.10%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	52.23%	38.26%	41.26%	46.31%	43.02%	40.71%	44.61%	45.68%	51.43%	57.17%
Debt to EBITDA	4.56	3.95	4.51	4.58	5.48	5.70	4.24	3.78	2.53	1.79
Net Debt to EBITDA	3.86	2.54	3.09	2.93	4.02	3.89	3.52	3.06	2.11	1.49
Long-Term Debt to EBITDA	4.54	3.93	4.49	4.27	4.53	5.28	4.23	3.78	2.39	1.79
Debt to NOPAT	-16.49	-3.30	-90.56	11.31	17.10	6.57	7.11	5.85	3.93	2.43
Net Debt to NOPAT	-13.94	-2.13	-62.11	7.24	12.56	4.49	5.90	4.74	3.28	2.02
Long-Term Debt to NOPAT	-16.41	-3.29	-90.06	10.54	14.12	6.08	7.10	5.85	3.71	2.43
Altman Z-Score	1.16	1.20	1.55	1.04	1.24	1.81	2.18	2.62	3.51	6.24
Noncontrolling Interest Sharing Ratio	16.19%	11.52%	1.49%	1.29%	1.33%	1.52%	1.55%	1.55%	1.44%	1.28%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.53	2.14	2.26	1.87	1.42	2.21	2.18	2.12	1.86	2.17
Quick Ratio	0.52	1.21	1.25	1.07	0.61	1.18	0.91	0.90	0.73	0.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7,463	-1,115	677	551	2,677	1,062	633	758	793	1,198
Operating Cash Flow to CapEx	148.13%	21.94%	-6.54%	28.26%	71.92%	3.37%	225.63%	379.79%	411.42%	404.36%
Free Cash Flow to Firm to Interest Expense	15.78	-2.23	1.37	1.46	7.92	2.79	1.56	379.12	396.45	199.63
Operating Cash Flow to Interest Expense	3.34	0.19	-0.08	0.58	1.36	0.02	1.11	366.50	450.50	216.33
Operating Cash Flow Less CapEx to Interest Expense	1.09	-0.68	-1.28	-1.46	-0.53	-0.68	0.62	270.00	341.00	162.83
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.44	0.67	0.36	0.39	0.36	0.46	0.55	0.64	0.71
Accounts Receivable Turnover	7.13	8.84	9.18	4.72	5.84	8.16	12.80	11.83	10.81	10.61
Inventory Turnover	3.77	4.27	4.32	2.06	2.54	2.51	2.49	2.73	2.83	2.84
Fixed Asset Turnover	1.14	2.27	2.34	1.20	1.70	2.01	1.97	2.36	2.85	3.15
Accounts Payable Turnover	4.33	5.96	5.71	2.58	3.36	4.92	5.40	4.84	4.91	5.30
Days Sales Outstanding (DSO)	51.19	41.30	39.78	77.33	62.48	44.73	28.52	30.84	33.78	34.41
Days Inventory Outstanding (DIO)	96.92	85.40	84.51	177.43	143.47	145.65	146.67	133.93	129.01	128.52
Days Payable Outstanding (DPO)	84.21	61.25	63.98	141.60	108.68	74.12	67.55	75.35	74.33	68.81
Cash Conversion Cycle (CCC)	63.91	65.45	60.31	113.16	97.27	116.26	107.64	89.42	88.46	94.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,827	10,495	9,742	9,751	7,421	7,131	7,094	7,047	7,198	7,364
Invested Capital Turnover	0.78	1.11	1.28	0.70	0.83	0.72	0.70	0.80	0.93	1.02
Increase / (Decrease) in Invested Capital	-7,998	-1,332	-753	9.00	-2,330	-290	-37	-47	151	166
Enterprise Value (EV)	21,872	13,113	17,520	12,134	17,610	15,769	17,045	19,607	25,349	47,204
Market Capitalization	12,267	7,831	12,757	8,014	13,178	12,249	13,478	16,181	22,198	44,398
Book Value per Share	$9.15	$11.54	$10.09	$11.42	$10.48	$8.12	$8.08	$8.57	$9.67	$11.07
Tangible Book Value per Share	$5.15	($2.45)	($1.39)	$0.20	($0.30)	($2.65)	($2.72)	($2.39)	($1.36)	$0.03
Total Capital	22,958	13,225	11,768	11,915	10,545	8,652	7,740	7,763	7,743	7,869
Total Debt	8,827	8,084	6,844	6,330	5,940	5,075	4,232	4,162	3,706	3,315
Total Long-Term Debt	8,786	8,044	6,806	5,896	4,906	4,699	4,227	4,162	3,500	3,309
Net Debt	7,465	5,201	4,694	4,053	4,363	3,465	3,512	3,371	3,096	2,751
Capital Expenditures (CapEx)	1,068	433	596	768	641	267	199	193	219	321
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,421	1,320	1,442	1,218	1,175	778	769	870	1,128	1,255
Debt-free Net Working Capital (DFNWC)	2,783	3,183	3,592	3,495	2,752	2,388	1,489	1,661	1,738	1,819
Net Working Capital (NWC)	2,742	3,143	3,554	3,061	1,718	2,012	1,484	1,661	1,532	1,813
Net Nonoperating Expense (NNE)	-338	-1,569	-1.57	-82	-123	511	338	242	179	209
Net Nonoperating Obligations (NNO)	-2,304	5,354	4,818	4,166	2,816	3,554	3,586	3,446	3,161	2,810
Total Depreciation and Amortization (D&A)	1,280	1,132	551	576	536	338	270	265	272	277
Debt-free, Cash-free Net Working Capital to Revenue	11.45%	10.65%	11.13%	17.97%	16.55%	14.79%	15.47%	15.36%	16.99%	16.89%
Debt-free Net Working Capital to Revenue	22.42%	25.68%	27.72%	51.56%	38.77%	45.41%	29.95%	29.33%	26.17%	24.48%
Net Working Capital to Revenue	22.09%	25.36%	27.42%	45.16%	24.20%	38.26%	29.85%	29.33%	23.07%	24.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.71)	($1.77)	($0.21)	$1.02	$0.80	$0.00	$0.00	$0.00	$1.85	$2.83
Adjusted Weighted Average Basic Shares Outstanding	571.80M	574.74M	629.84M	632.67M	581.87M	435M	430M	416M	412M	408M
Adjusted Diluted Earnings per Share	($0.71)	($1.77)	($0.21)	$1.00	$0.79	$0.00	$0.00	$0.00	$1.83	$2.81
Adjusted Weighted Average Diluted Shares Outstanding	571.80M	574.74M	629.84M	632.67M	604.04M	439M	435M	421M	416M	410M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	571.80M	574.74M	629.84M	632.67M	568.71M	433.61M	418.90M	412.28M	410.30M	405.02M
Normalized Net Operating Profit after Tax (NOPAT)	607	776	955	677	697	566	667	755	962	1,381
Normalized NOPAT Margin	4.89%	6.26%	7.37%	9.99%	9.81%	10.75%	13.42%	13.32%	14.49%	18.59%
Pre Tax Income Margin	1.47%	3.34%	3.63%	6.31%	2.96%	3.25%	6.52%	10.70%	14.68%	18.61%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.39	1.83	1.95	2.14	1.62	1.45	1.80	418.50	597.50	261.83
NOPAT to Interest Expense	-1.13	-4.90	-0.15	1.48	1.03	2.03	1.47	355.62	471.95	227.30
EBIT Less CapEx to Interest Expense	-0.87	0.96	0.75	0.10	-0.28	0.75	1.31	322.00	488.00	208.33
NOPAT Less CapEx to Interest Expense	-3.39	-5.77	-1.35	-0.55	-0.87	1.33	0.98	259.12	362.45	173.80
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-167.01%	-51.71%	-237.84%	18.54%	12.13%	4.21%	7.36%	9.38%	9.54%	9.44%
Augmented Payout Ratio	-167.01%	-51.71%	-237.84%	18.54%	256.81%	32.18%	174.03%	94.67%	42.22%	52.73%

This table displays calculated financial ratios and metrics derived from Howmet Aerospace's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.69%	17.74%	21.07%	18.31%	15.70%	14.41%	13.79%	14.08%	10.68%	9.24%
EBITDA Growth	-16.91%	30.77%	17.63%	18.12%	61.06%	43.75%	20.75%	23.84%	29.67%	29.16%
EBIT Growth	-21.08%	45.39%	21.40%	23.14%	83.85%	57.56%	26.62%	28.52%	36.49%	33.75%
NOPAT Growth	-27.12%	13.70%	8.81%	16.93%	35.98%	72.70%	54.35%	40.03%	65.55%	25.09%
Net Income Growth	196.30%	44.16%	12.98%	31.29%	135.00%	112.61%	64.19%	37.82%	76.60%	33.05%
EPS Growth	216.67%	44.44%	12.90%	31.43%	136.84%	119.23%	68.57%	41.30%	80.00%	33.33%
Operating Cash Flow Growth	-2.99%	50.17%	-58.18%	44.94%	193.85%	0.66%	669.57%	73.36%	27.75%	4.80%
Free Cash Flow Firm Growth	-6.41%	16.41%	-6.38%	-79.68%	-100.77%	-36.82%	82.75%	595.25%	9,997.09%	42.18%
Invested Capital Growth	-2.08%	-0.66%	0.53%	2.43%	3.41%	2.14%	0.21%	-0.74%	2.01%	2.31%
Revenue Q/Q Growth	2.87%	5.58%	5.95%	2.81%	0.61%	4.40%	5.37%	3.07%	-2.39%	3.05%
EBITDA Q/Q Growth	-26.86%	20.35%	27.57%	5.19%	-0.27%	7.42%	7.16%	7.88%	4.42%	6.99%
EBIT Q/Q Growth	-33.47%	27.33%	35.61%	7.19%	-0.67%	9.12%	8.98%	8.81%	5.48%	6.93%
NOPAT Q/Q Growth	-9.40%	-5.92%	16.20%	18.06%	5.36%	19.48%	3.85%	7.11%	24.57%	-9.72%
Net Income Q/Q Growth	-45.58%	38.75%	33.33%	30.41%	-2.59%	25.53%	2.97%	9.47%	24.81%	-5.42%
EPS Q/Q Growth	-45.71%	36.84%	34.62%	31.43%	-2.17%	26.67%	3.51%	10.17%	24.62%	-6.17%
Operating Cash Flow Q/Q Growth	-58.86%	600.00%	-94.95%	895.65%	-16.59%	139.79%	-61.35%	124.29%	-38.54%	96.72%
Free Cash Flow Firm Q/Q Growth	23.91%	-34.85%	-27.49%	-65.29%	-104.69%	5,449.08%	109.73%	32.05%	-33.19%	-23.15%
Invested Capital Q/Q Growth	-0.98%	-0.17%	3.24%	0.37%	-0.03%	-1.40%	1.28%	-0.58%	2.75%	-1.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.31%	26.64%	27.39%	27.43%	28.65%	28.94%	29.28%	31.54%	31.72%	31.84%
EBITDA Margin	15.77%	17.98%	21.65%	22.15%	21.95%	22.59%	22.97%	24.04%	25.72%	26.71%
Operating Margin	15.91%	14.54%	17.78%	17.29%	18.52%	18.83%	20.23%	21.17%	22.94%	23.53%
EBIT Margin	11.24%	13.55%	17.34%	18.08%	17.85%	18.66%	19.30%	20.37%	22.02%	22.85%
Profit (Net Income) Margin	5.58%	7.34%	9.23%	11.71%	11.34%	13.63%	13.32%	14.15%	18.09%	16.61%
Tax Burden Percent	76.92%	75.00%	67.27%	79.42%	77.69%	87.41%	80.20%	79.64%	93.79%	80.10%
Interest Burden Percent	64.60%	72.20%	79.14%	81.54%	81.76%	83.59%	86.08%	87.21%	87.62%	90.74%
Effective Tax Rate	23.08%	25.00%	32.73%	20.58%	22.31%	12.59%	19.80%	20.36%	6.21%	19.90%
Return on Invested Capital (ROIC)	9.32%	8.73%	9.79%	11.80%	12.87%	15.35%	15.29%	16.44%	21.21%	19.24%
ROIC Less NNEP Spread (ROIC-NNEP)	6.75%	7.20%	8.60%	10.87%	11.47%	13.86%	13.71%	14.87%	19.24%	17.81%
Return on Net Nonoperating Assets (RNNOA)	7.31%	7.12%	8.69%	10.93%	11.58%	11.99%	11.74%	12.00%	14.64%	12.38%
Return on Equity (ROE)	16.63%	15.86%	18.48%	22.73%	24.44%	27.34%	27.02%	28.44%	35.86%	31.62%
Cash Return on Invested Capital (CROIC)	11.73%	10.72%	9.44%	8.10%	8.11%	11.13%	14.16%	16.37%	15.54%	16.45%
Operating Return on Assets (OROA)	6.02%	7.50%	10.15%	11.05%	11.41%	11.98%	12.86%	13.82%	15.45%	16.21%
Return on Assets (ROA)	2.99%	4.06%	5.40%	7.16%	7.25%	8.75%	8.88%	9.60%	12.69%	11.78%
Return on Common Equity (ROCE)	16.36%	15.61%	18.20%	22.38%	24.07%	26.95%	26.64%	28.05%	35.38%	31.21%
Return on Equity Simple (ROE_SIMPLE)	13.29%	0.00%	12.92%	14.09%	16.53%	0.00%	21.05%	21.81%	23.92%	0.00%
Net Operating Profit after Tax (NOPAT)	175	165	192	226	238	285	296	317	395	356
NOPAT Margin	12.24%	10.91%	11.96%	13.74%	14.38%	16.46%	16.22%	16.86%	21.52%	18.85%
Net Nonoperating Expense Percent (NNEP)	2.57%	1.54%	1.20%	0.92%	1.40%	1.48%	1.58%	1.57%	1.97%	1.42%
Return On Investment Capital (ROIC_SIMPLE)	-	2.13%	-	-	-	3.68%	-	-	-	4.53%
Cost of Revenue to Revenue	73.69%	73.36%	72.61%	72.57%	71.35%	71.06%	70.72%	68.46%	68.28%	68.17%
SG&A Expenses to Revenue	5.09%	4.16%	4.68%	5.34%	5.25%	4.79%	4.82%	5.16%	4.63%	4.07%
R&D to Revenue	0.49%	0.59%	0.56%	0.55%	0.54%	0.52%	0.55%	0.37%	0.49%	0.37%
Operating Expenses to Revenue	10.40%	12.10%	9.61%	10.13%	10.13%	10.11%	9.05%	10.37%	8.77%	8.30%
Earnings before Interest and Taxes (EBIT)	161	205	278	298	296	323	352	383	404	432
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	226	272	347	365	364	391	419	452	472	505
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.96	4.56	4.69	5.48	4.98	5.57	6.98	7.50	9.20	9.87
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3,171.31
Price to Revenue (P/Rev)	2.35	2.86	2.92	3.29	2.96	3.34	4.10	4.46	5.63	5.98
Price to Earnings (P/E)	29.39	34.65	35.98	38.56	29.88	29.09	32.79	34.01	38.06	38.51
Dividend Yield	0.26%	0.26%	0.28%	0.28%	0.35%	0.32%	0.26%	0.25%	0.23%	0.24%
Earnings Yield	3.40%	2.89%	2.78%	2.59%	3.35%	3.44%	3.05%	2.94%	2.63%	2.60%
Enterprise Value to Invested Capital (EV/IC)	2.34	2.78	2.87	3.27	3.07	3.52	4.30	4.78	5.89	6.41
Enterprise Value to Revenue (EV/Rev)	3.04	3.46	3.51	3.86	3.49	3.82	4.57	4.88	6.04	6.35
Enterprise Value to EBITDA (EV/EBITDA)	15.92	17.79	18.10	19.76	16.64	17.28	20.37	21.29	25.31	25.54
Enterprise Value to EBIT (EV/EBIT)	21.38	23.43	23.57	25.38	20.82	21.21	24.70	25.57	30.02	30.05
Enterprise Value to NOPAT (EV/NOPAT)	24.07	27.57	28.90	31.56	27.25	26.86	29.97	30.46	33.94	34.61
Enterprise Value to Operating Cash Flow (EV/OCF)	28.45	26.75	29.79	30.97	24.97	28.13	29.71	28.31	34.40	36.37
Enterprise Value to Free Cash Flow (EV/FCFF)	19.76	25.86	30.50	40.90	38.53	31.97	30.40	29.07	38.30	39.41
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.27	1.16	1.06	1.06	0.98	0.92	0.90	0.86	0.75	0.73
Long-Term Debt to Equity	1.27	1.16	1.06	1.06	0.98	0.87	0.85	0.67	0.75	0.73
Financial Leverage	1.08	0.99	1.01	1.01	1.01	0.87	0.86	0.81	0.76	0.70
Leverage Ratio	2.96	2.88	2.81	2.82	2.81	2.71	2.62	2.60	2.47	2.44
Compound Leverage Factor	1.91	2.08	2.23	2.30	2.30	2.26	2.26	2.26	2.17	2.21
Debt to Total Capital	56.03%	53.61%	51.46%	51.38%	49.49%	47.86%	47.47%	46.11%	42.98%	42.13%
Short-Term Debt to Total Capital	0.01%	0.00%	0.00%	0.00%	0.00%	2.66%	2.65%	9.85%	0.01%	0.08%
Long-Term Debt to Total Capital	56.02%	53.61%	51.46%	51.38%	49.49%	45.20%	44.82%	36.25%	42.97%	42.05%
Preferred Equity to Total Capital	0.74%	0.71%	0.71%	0.71%	0.72%	0.71%	0.71%	0.69%	0.70%	0.70%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	43.23%	45.68%	47.83%	47.91%	49.79%	51.43%	51.83%	53.20%	56.33%	57.17%
Debt to EBITDA	4.02	3.78	3.46	3.30	2.81	2.53	2.40	2.25	1.96	1.79
Net Debt to EBITDA	3.58	3.06	2.99	2.85	2.50	2.11	2.05	1.79	1.68	1.49
Long-Term Debt to EBITDA	4.02	3.78	3.46	3.30	2.81	2.39	2.27	1.77	1.96	1.79
Debt to NOPAT	6.08	5.85	5.52	5.27	4.61	3.93	3.53	3.22	2.62	2.43
Net Debt to NOPAT	5.42	4.74	4.78	4.56	4.09	3.28	3.02	2.56	2.26	2.02
Long-Term Debt to NOPAT	6.07	5.85	5.52	5.27	4.61	3.71	3.33	2.53	2.62	2.43
Altman Z-Score	2.06	2.41	2.65	2.98	2.94	3.23	3.89	4.18	5.41	5.88
Noncontrolling Interest Sharing Ratio	1.61%	1.55%	1.52%	1.53%	1.54%	1.44%	1.40%	1.37%	1.31%	1.28%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.06	2.12	2.18	2.22	2.14	1.86	1.97	1.53	2.24	2.17
Quick Ratio	0.76	0.90	0.86	0.86	0.79	0.73	0.79	0.64	0.82	0.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	325	212	154	53	-2.50	134	281	371	248	190
Operating Cash Flow to CapEx	154.76%	1,011.11%	35.94%	558.54%	323.73%	832.73%	215.85%	721.82%	297.56%	470.59%
Free Cash Flow to Firm to Interest Expense	5.71	0.00	2.65	0.97	0.00	0.00	5.73	7.57	41.31	0.00
Operating Cash Flow to Interest Expense	1.14	0.00	0.40	4.16	0.00	0.00	3.61	8.10	40.67	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.40	0.00	-0.71	3.42	0.00	0.00	1.94	6.98	27.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.55	0.59	0.61	0.64	0.64	0.67	0.68	0.70	0.71
Accounts Receivable Turnover	10.21	11.83	9.90	10.15	9.68	10.81	9.31	9.86	9.68	10.61
Inventory Turnover	2.59	2.73	2.75	2.76	2.77	2.83	2.84	2.80	2.77	2.84
Fixed Asset Turnover	2.28	2.36	2.52	2.66	2.80	2.85	2.97	3.07	3.12	3.15
Accounts Payable Turnover	5.39	4.84	5.22	5.34	5.45	4.91	5.32	5.39	5.59	5.30
Days Sales Outstanding (DSO)	35.76	30.84	36.86	35.96	37.71	33.78	39.21	37.02	37.71	34.41
Days Inventory Outstanding (DIO)	140.76	133.93	132.95	132.18	131.79	129.01	128.33	130.31	131.65	128.52
Days Payable Outstanding (DPO)	67.69	75.35	69.92	68.35	66.91	74.33	68.58	67.73	65.32	68.81
Cash Conversion Cycle (CCC)	108.84	89.42	99.89	99.79	102.58	88.46	98.96	99.60	104.03	94.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,059	7,047	7,275	7,302	7,300	7,198	7,290	7,248	7,447	7,364
Invested Capital Turnover	0.76	0.80	0.82	0.86	0.89	0.93	0.94	0.98	0.99	1.02
Increase / (Decrease) in Invested Capital	-150	-47	38	173	241	151	15	-54	147	166
Enterprise Value (EV)	16,529	19,607	20,886	23,906	22,426	25,349	31,348	34,622	43,891	47,204
Market Capitalization	12,756	16,181	17,380	20,397	19,001	22,198	28,134	31,660	40,917	44,398
Book Value per Share	$7.75	$8.57	$8.99	$9.00	$9.26	$9.67	$9.83	$10.34	$10.90	$11.07
Tangible Book Value per Share	($3.06)	($2.39)	($2.03)	($1.98)	($1.69)	($1.36)	($1.19)	($0.69)	($0.20)	$0.03
Total Capital	7,444	7,763	7,749	7,764	7,666	7,743	7,778	7,936	7,897	7,869
Total Debt	4,171	4,162	3,988	3,989	3,794	3,706	3,692	3,659	3,394	3,315
Total Long-Term Debt	4,170	4,162	3,988	3,989	3,794	3,500	3,486	2,877	3,393	3,309
Net Debt	3,718	3,371	3,451	3,454	3,370	3,096	3,159	2,907	2,919	2,751
Capital Expenditures (CapEx)	42	45	64	41	59	55	82	55	82	102
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,013	870	1,117	1,183	1,233	1,128	1,315	1,275	1,400	1,255
Debt-free Net Working Capital (DFNWC)	1,466	1,661	1,654	1,718	1,657	1,738	1,848	2,027	1,875	1,819
Net Working Capital (NWC)	1,465	1,661	1,654	1,718	1,657	1,532	1,642	1,245	1,874	1,813
Net Nonoperating Expense (NNE)	95	54	44	33	50	49	53	51	63	42
Net Nonoperating Obligations (NNO)	3,786	3,446	3,514	3,527	3,428	3,161	3,204	2,971	2,944	2,810
Total Depreciation and Amortization (D&A)	65	67	69	67	68	68	67	69	68	73
Debt-free, Cash-free Net Working Capital to Revenue	18.64%	15.36%	18.80%	19.09%	19.20%	16.99%	19.17%	17.98%	19.26%	16.89%
Debt-free Net Working Capital to Revenue	26.97%	29.33%	27.84%	27.72%	25.80%	26.17%	26.93%	28.58%	25.79%	24.48%
Net Working Capital to Revenue	26.95%	29.33%	27.84%	27.72%	25.80%	23.07%	23.93%	17.55%	25.78%	24.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.19	$0.27	$0.36	$0.47	$0.45	$0.57	$0.59	$0.65	$0.81	$0.78
Adjusted Weighted Average Basic Shares Outstanding	415M	416M	412M	413M	412M	412M	410M	408M	408M	408M
Adjusted Diluted Earnings per Share	$0.19	$0.26	$0.35	$0.46	$0.45	$0.57	$0.59	$0.65	$0.81	$0.76
Adjusted Weighted Average Diluted Shares Outstanding	420M	421M	418M	417M	415M	416M	412M	411M	410M	410M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	413.71M	412.28M	413.29M	412.21M	411.74M	410.30M	408.18M	408.15M	406.26M	405.02M
Normalized Net Operating Profit after Tax (NOPAT)	178	198	192	229	242	298	296	334	394	356
Normalized NOPAT Margin	12.45%	13.09%	12.00%	13.88%	14.57%	17.22%	16.22%	17.79%	21.47%	18.85%
Pre Tax Income Margin	7.26%	9.78%	13.72%	14.75%	14.60%	15.60%	16.61%	17.77%	19.29%	20.73%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.82	0.00	4.79	5.42	0.00	0.00	7.18	7.82	67.33	0.00
NOPAT to Interest Expense	3.08	0.00	3.31	4.12	0.00	0.00	6.04	6.47	65.81	0.00
EBIT Less CapEx to Interest Expense	2.09	0.00	3.69	4.67	0.00	0.00	5.51	6.69	53.67	0.00
NOPAT Less CapEx to Interest Expense	2.34	0.00	2.20	3.37	0.00	0.00	4.37	5.35	52.14	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	8.05%	9.38%	10.70%	11.47%	10.78%	9.54%	8.95%	8.57%	9.01%	9.44%
Augmented Payout Ratio	132.18%	94.67%	62.14%	65.98%	44.38%	42.22%	52.56%	44.48%	47.08%	52.73%

Frequently Asked Questions About Howmet Aerospace's Financials

When does Howmet Aerospace's financial year end?

According to the most recent income statement we have on file, Howmet Aerospace's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Howmet Aerospace's net income changed over the last 9 years?

Howmet Aerospace's net income appears to be on an upward trend, with a most recent value of $1.16 billion in 2024, falling from -$197 million in 2015. The previous period was $765 million in 2023. Find out what analysts predict for Howmet Aerospace in the coming months.

What is Howmet Aerospace's operating income?

Howmet Aerospace's total operating income in 2024 was $1.63 billion, based on the following breakdown:

Total Gross Profit: $2.31 billion
Total Operating Expenses: $678 million

How has Howmet Aerospace revenue changed over the last 9 years?

Over the last 9 years, Howmet Aerospace's total revenue changed from $12.41 billion in 2015 to $7.43 billion in 2024, a change of -40.1%.

How much debt does Howmet Aerospace have?

Howmet Aerospace's total liabilities were at $5.97 billion at the end of 2024, a 6.7% decrease from 2023, and a 73.3% decrease since 2015.

How much cash does Howmet Aerospace have?

In the past 9 years, Howmet Aerospace's cash and equivalents has ranged from $564 million in 2024 to $2.28 billion in 2018, and is currently $564 million as of their latest financial filing in 2024.

How has Howmet Aerospace's book value per share changed over the last 9 years?

Over the last 9 years, Howmet Aerospace's book value per share changed from 9.15 in 2015 to 11.07 in 2024, a change of 21.0%.

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This page (NYSE:HWM) was last updated on 5/5/2025 by MarketBeat.com Staff

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Howmet Aerospace (HWM) Financials

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Howmet Aerospace (HWM) Financials

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