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Howmet Aerospace (HWM) Financials

Howmet Aerospace logo
$256.52 -0.03 (-0.01%)
Closing price 05/22/2026 03:59 PM Eastern
Extended Trading
$256.84 +0.32 (+0.12%)
As of 05/22/2026 08:00 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Howmet Aerospace

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 2025
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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -322 -941 -74 642 470 261 256 467 763 1,153 1,506
Consolidated Net Income / (Loss)		 -197 -878 -74 642 470 261 258 469 765 1,155 1,508
Net Income / (Loss) Continuing Operations		 -156 -1,062 -74 309 126 211 258 469 765 1,155 1,508
Total Pre-Tax Income 		183 414 470 428 210 171 324 606 975 1,383 1,840
Total Operating Income		 628 954 480 775 579 626 748 919 1,203 1,633 2,046
Total Gross Profit		 2,309 2,698 2,739 1,664 1,884 1,381 1,376 1,560 1,867 2,311 2,820
Total Revenue		 12,413 12,394 12,960 6,778 7,098 5,259 4,972 5,663 6,640 7,430 8,252
Operating Revenue		 12,413 12,394 12,960 6,778 7,098 5,259 4,972 5,663 6,640 7,430 8,252
Total Cost of Revenue		 10,104 9,696 10,221 5,114 5,214 3,878 3,596 4,103 4,773 5,119 5,432
Operating Cost of Revenue		 10,104 9,696 10,221 5,114 5,214 3,878 3,596 4,103 4,773 5,119 5,432
Total Operating Expenses		 1,681 1,744 2,259 889 1,305 755 628 641 664 678 774
Selling, General & Admin Expense		 765 924 715 371 400 277 251 288 333 347 370
Research & Development Expense		 169 130 109 41 28 17 17 32 36 33 37
Depreciation Expense		 508 535 551 314 295 279 270 265 272 277 283
Restructuring Charge		 214 155 165 163 582 182 90 56 23 21 84
Total Other Income / (Expense), net		 -445 -540 -10 -347 -369 -455 -424 -313 -228 -250 -206
Interest Expense		 473 499 496 377 338 381 405 2.00 2.00 6.00 15
Interest & Investment Income		 - - - - - - - -229 -218 -182 -151
Other Income / (Expense), net		 28 -41 486 30 -31 -74 -19 -82 -8.00 -62 -40
Income Tax Expense		 339 1,476 544 119 84 -40 66 137 210 228 332
Basic Earnings per Share		 ($0.93) ($2.31) ($0.28) - - - $0.60 $1.12 $1.85 $2.83 $3.73
Weighted Average Basic Shares Outstanding		 346.20M 407.40M 451M 483M 446M 435M 430M 416M 412M 408M 404M
Diluted Earnings per Share		 ($0.93) ($2.31) - - - - $0.59 $1.11 $1.83 $2.81 $3.71
Weighted Average Diluted Shares Outstanding		 346.20M 407.40M 451M 503M 463M 439M 435M 421M 416M 410M 406M
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 400.94M
Cash Dividends to Common per Share		 $0.36 $0.36 $0.24 $0.24 $0.12 $0.02 - $0.10 $0.17 $0.26 $0.44

Quarterly Income Statements for Howmet Aerospace

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 187 236 242 266 331 314 343 407 384 372 580
Consolidated Net Income / (Loss)		 188 236 243 266 332 314 344 407 385 372 580
Net Income / (Loss) Continuing Operations		 188 236 243 266 332 314 344 407 385 372 580
Total Pre-Tax Income 		242 270 303 334 354 392 446 469 495 430 708
Total Operating Income		 307 326 369 398 421 445 494 521 542 489 753
Total Gross Profit		 475 501 534 593 582 602 652 688 724 756 854
Total Revenue		 1,658 1,731 1,824 1,880 1,835 1,891 1,942 2,053 2,089 2,168 2,313
Operating Revenue		 1,658 1,731 1,824 1,880 1,835 1,891 1,942 2,053 2,089 2,168 2,313
Total Cost of Revenue		 1,183 1,230 1,290 1,287 1,253 1,289 1,290 1,365 1,365 1,412 1,459
Operating Cost of Revenue		 1,183 1,230 1,290 1,287 1,253 1,289 1,290 1,365 1,365 1,412 1,459
Total Operating Expenses		 168 175 165 195 161 157 158 167 182 267 101
Selling, General & Admin Expense		 87 83 88 97 85 77 85 89 100 96 111
Research & Development Expense		 9.00 9.00 10 7.00 9.00 7.00 8.00 9.00 10 10 9.00
Depreciation Expense		 68 68 67 69 68 73 69 69 72 73 74
Restructuring Charge		 4.00 15 0.00 22 -1.00 - -4.00 0.00 0.00 88 -93
Total Other Income / (Expense), net		 -65 -56 -66 -64 -67 -53 -48 -52 -47 -59 -45
Interest & Investment Income		 -54 - -49 -49 -44 - -39 -38 -37 -37 -43
Other Income / (Expense), net		 -11 -3.00 -17 -15 -17 -13 -9.00 -14 -10 -7.00 -2.00
Income Tax Expense		 54 34 60 68 22 78 102 62 110 58 128
Basic Earnings per Share		 $0.45 $0.57 $0.59 $0.65 $0.81 $0.78 $0.85 $1.01 $0.96 $0.91 $1.45
Weighted Average Basic Shares Outstanding		 412M 412M 410M 408M 408M 408M 405M 404M 403M 404M 401M
Diluted Earnings per Share		 $0.45 $0.57 $0.59 $0.65 $0.81 $0.76 $0.84 $1.00 $0.95 $0.92 $1.44
Weighted Average Diluted Shares Outstanding		 415M 416M 412M 411M 410M 410M 407M 406M 405M 406M 403M
Weighted Average Basic & Diluted Shares Outstanding		 411.74M 410.30M 408.18M 408.15M 406.26M 405.02M 403.67M 403.13M 402.06M 400.94M 400.11M

Annual Cash Flow Statements for Howmet Aerospace

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 2025
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 12/31/2025
Net Change in Cash & Equivalents		 42 -71 266 133 -579 -92 -889 70 -182 -45 178
Net Cash From Operating Activities		 1,582 95 -39 217 461 9.00 449 733 901 1,298 1,884
Net Cash From Continuing Operating Activities		 -808 95 -39 217 461 9.00 449 733 901 1,298 1,884
Net Income / (Loss) Continuing Operations		 -197 -878 -74 642 470 261 258 469 765 1,155 1,508
Consolidated Net Income / (Loss)		 -197 -878 -74 642 470 261 258 469 765 1,155 1,508
Depreciation Expense		 1,280 1,132 551 576 536 338 270 265 272 277 283
Non-Cash Adjustments To Reconcile Net Income		 1,840 596 767 274 815 327 324 166 137 156 244
Changes in Operating Assets and Liabilities, net		 -1,341 -755 -1,283 -1,275 -1,360 -917 -403 -167 -273 -290 -151
Net Cash From Investing Activities		 -1,060 591 1,320 565 528 271 107 -135 -215 -316 -438
Net Cash From Continuing Investing Activities		 -1,060 591 1,320 565 528 271 107 -135 -215 -316 -438
Purchase of Property, Plant & Equipment		 -1,180 -1,125 -596 -768 -641 -267 -199 -193 -219 -321 -453
Acquisitions		 - - -9.00 - - - - 0.00 0.00 -5.00 0.00
Purchase of Investments		 -134 - - - - - - - 0.00 0.00 -9.00
Divestitures		 97 10 - 309 103 114 32 58 2.00 9.00 9.00
Sale and/or Maturity of Investments		 40 1,058 1,682 1,025 73 422 273 - 2.00 0.00 15
Other Investing Activities, net		 5.00 -44 243 -1.00 993 2.00 1.00 0.00 0.00 1.00 0.00
Net Cash From Financing Activities		 -441 -757 -1,015 -649 -1,568 -369 -1,444 -526 -868 -1,026 -1,269
Net Cash From Continuing Financing Activities		 -441 -757 -1,015 -649 -1,568 -369 -1,444 -526 -868 -1,026 -1,269
Repayment of Debt		 -2,049 -2,741 -1,705 -1,146 -819 -2,203 -1,687 -71 -879 -876 -788
Repurchase of Preferred Equity		 - - - - - - - - 0.00 0.00 -55
Repurchase of Common Equity		 - - 0.00 0.00 -1,150 -73 -430 -400 -250 -500 -700
Payment of Dividends		 -329 -454 -176 -119 -57 -11 -19 -44 -73 -109 -181
Issuance of Debt		 1,901 1,962 816 600 402 2,385 691 -5.00 400 500 500
Other Financing Activities, net		 34 425 50 16 56 -467 1.00 -6.00 -66 -41 -45
Effect of Exchange Rate Changes		 -39 - - - - -3.00 -1.00 -2.00 0.00 -1.00 1.00

Quarterly Cash Flow Statements for Howmet Aerospace

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -111 185 -76 218 -277 90 -28 9.00 114 83 1,693
Net Cash From Operating Activities		 191 458 177 397 244 480 253 446 531 654 453
Net Cash From Continuing Operating Activities		 191 458 177 397 244 480 253 446 531 654 453
Net Income / (Loss) Continuing Operations		 188 236 243 266 332 314 344 407 385 372 580
Consolidated Net Income / (Loss)		 188 236 243 266 332 314 344 407 385 372 580
Depreciation Expense		 68 68 67 69 68 73 69 69 72 73 74
Non-Cash Adjustments To Reconcile Net Income		 34 42 33 67 34 22 28 41 37 138 -54
Changes in Operating Assets and Liabilities, net		 -99 112 -166 -5.00 -190 71 -188 -71 37 71 -147
Net Cash From Investing Activities		 -58 -52 -75 -54 -80 -107 -115 -97 -104 -122 14
Net Cash From Continuing Investing Activities		 -58 -52 -75 -54 -80 -107 -115 -97 -104 -122 14
Purchase of Property, Plant & Equipment		 -59 -55 -82 -55 -82 -102 -119 -102 -108 -124 -94
Acquisitions		 - - - - - - 0.00 - - - -118
Divestitures		 1.00 1.00 7.00 1.00 1.00 - 5.00 3.00 1.00 - 225
Sale and/or Maturity of Investments		 - - - - - - 0.00 - - 2.00 2.00
Other Investing Activities, net		 - 2.00 0.00 - - - -1.00 2.00 -1.00 - -1.00
Net Cash From Financing Activities		 -243 -222 -178 -123 -441 -284 -167 -339 -314 -449 1,226
Net Cash From Continuing Financing Activities		 -243 -222 -178 -123 -441 -284 -167 -339 -314 -449 1,226
Repayment of Debt		 -200 -502 0.00 -23 -792 -61 0.00 -79 -65 -643 -12
Repurchase of Common Equity		 -25 -100 -150 -60 -100 -190 -125 -175 -200 -200 -300
Payment of Dividends		 -17 -21 -21 -21 -34 -33 -42 -41 -48 -50 -48
Issuance of Debt		 - 400 - - - - 0.00 - - 500 1,650
Other Financing Activities, net		 -1.00 1.00 -7.00 -19 -15 - 0.00 -44 -1.00 -1.00 -64
Effect of Exchange Rate Changes		 -1.00 1.00 0.00 -2.00 - 1.00 1.00 - 1.00 - 0.00

Annual Balance Sheets for Howmet Aerospace

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 2025
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 12/31/2025
Total Assets		 36,477 20,038 18,718 18,693 17,562 11,443 10,219 10,255 10,428 10,519 11,179
Total Current Assets		 7,953 5,892 6,378 6,581 5,843 3,672 2,737 3,143 3,316 3,362 3,779
Cash & Equivalents		 1,362 1,863 2,150 2,277 1,577 1,610 720 791 610 564 742
Accounts Receivable		 1,354 1,451 1,374 1,498 932 357 420 537 692 709 779
Inventories, net		 2,284 2,253 2,480 2,492 1,607 1,488 1,402 1,609 1,765 1,840 1,849
Prepaid Expenses		 397 325 374 314 285 217 195 206 249 249 409
Plant, Property, & Equipment, net		 5,425 5,499 5,594 5,704 2,629 2,592 2,467 2,332 2,328 2,386 2,593
Total Noncurrent Assets		 23,099 8,647 6,746 6,408 9,090 5,179 5,015 4,780 4,784 4,771 4,807
Goodwill		 5,249 5,148 4,535 4,500 4,067 4,102 4,067 4,013 4,035 4,010 4,022
Intangible Assets		 - 988 987 919 599 571 549 521 505 475 457
Noncurrent Deferred & Refundable Income Taxes		 1,308 1,234 743 573 209 272 184 54 46 35 40
Other Noncurrent Operating Assets		 1,944 257 481 416 316 234 215 192 198 251 288
Total Liabilities & Shareholders' Equity		 36,477 20,038 18,718 18,693 17,562 11,443 10,219 10,255 10,428 10,519 11,179
Total Liabilities		 22,346 14,897 13,794 13,108 12,957 7,866 6,711 6,654 6,391 5,965 5,826
Total Current Liabilities		 5,211 2,749 2,824 3,520 4,125 1,660 1,253 1,482 1,784 1,549 1,771
Short-Term Debt		 41 40 38 434 1,034 376 5.00 0.00 206 6.00 191
Accounts Payable		 1,510 1,744 1,839 2,129 976 599 732 962 982 948 845
Current Deferred Revenue		 - - - - - - - - - 60 147
Current Deferred & Payable Income Tax Liabilities		 103 85 75 118 65 102 61 48 68 60 77
Current Employee Benefit Liabilities		 410 398 399 370 285 205 198 195 263 305 343
Other Current Liabilities		 441 329 349 356 229 289 183 202 200 111 121
Other Current Nonoperating Liabilities		 2,706 153 124 113 1,536 89 74 75 65 59 47
Total Noncurrent Liabilities		 17,135 12,148 10,970 9,588 8,832 6,206 5,458 5,172 4,607 4,416 4,055
Long-Term Debt		 8,786 8,044 6,806 5,896 4,906 4,699 4,227 4,162 3,500 3,309 2,859
Noncurrent Deferred Revenue		 828 870 759 739 438 324 307 268 351 428 612
Noncurrent Employee Benefit Liabilities		 2,842 3,234 3,405 2,953 1,230 1,183 924 742 756 679 584
Commitments & Contingencies		 0.00 - - 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 5,353
Total Preferred & Common Equity		 12,046 5,115 4,910 5,573 4,591 3,577 3,508 3,601 4,037 4,554 5,353
Total Common Equity		 11,991 5,060 4,855 5,518 4,536 3,522 3,453 3,546 3,982 4,499 5,353
Common Stock		 11,410 8,652 8,747 8,802 7,752 5,101 4,713 4,359 4,092 3,611 2,933
Retained Earnings		 8,834 -1,027 -1,248 -358 113 364 603 1,028 1,720 2,766 4,093
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 -1,673

Quarterly Balance Sheets for Howmet Aerospace

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 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 10,233 10,166 10,428 10,410 10,679 10,558 10,519 10,772 11,046 11,177 13,067
Total Current Assets		 3,128 3,111 3,316 3,340 3,603 3,391 3,362 3,554 3,694 3,824 5,657
Cash & Equivalents		 535 424 610 533 752 475 564 536 545 659 2,435
Accounts Receivable		 671 727 692 803 768 775 709 901 902 901 940
Inventories, net		 1,715 1,748 1,765 1,783 1,848 1,902 1,840 1,902 1,964 1,975 1,975
Prepaid Expenses		 207 212 249 221 235 239 249 215 283 289 307
Plant, Property, & Equipment, net		 2,319 2,296 2,328 2,294 2,307 2,358 2,386 2,440 2,526 2,551 2,614
Total Noncurrent Assets		 4,786 4,759 4,784 4,776 4,769 4,809 4,771 4,778 4,826 4,802 4,796
Goodwill		 4,026 4,007 4,035 4,020 4,016 4,047 4,010 4,028 4,065 4,058 4,078
Intangible Assets		 513 507 505 498 489 484 475 470 467 462 451
Noncurrent Deferred & Refundable Income Taxes		 52 45 46 38 32 39 35 32 31 31 35
Other Noncurrent Operating Assets		 195 200 198 220 232 239 251 248 263 251 232
Total Liabilities & Shareholders' Equity		 10,233 10,166 10,428 10,410 10,679 10,558 10,519 10,772 11,046 11,177 13,067
Total Liabilities		 6,458 6,294 6,391 6,324 6,402 6,055 5,965 5,980 6,004 6,034 7,545
Total Current Liabilities		 1,410 1,454 1,784 1,698 2,358 1,517 1,549 1,548 1,600 1,625 2,315
Short-Term Debt		 - - 206 206 782 1.00 6.00 7.00 5.00 1.00 636
Accounts Payable		 881 894 982 964 971 917 948 991 1,028 957 1,058
Current Deferred Revenue		 - - - - - - - - - - 129
Current Deferred & Payable Income Tax Liabilities		 78 73 68 84 81 59 60 105 64 71 81
Current Employee Benefit Liabilities		 209 240 263 201 235 288 305 235 263 314 263
Other Current Liabilities		 169 189 200 198 225 227 171 178 181 250 109
Other Current Nonoperating Liabilities		 73 58 65 45 64 25 59 32 59 32 39
Total Noncurrent Liabilities		 5,048 4,840 4,607 4,626 4,044 4,538 4,416 4,432 4,404 4,409 5,230
Long-Term Debt		 3,989 3,794 3,500 3,486 2,877 3,393 3,309 3,317 3,253 3,188 4,050
Noncurrent Deferred Revenue		 327 330 351 387 432 432 428 436 486 574 611
Noncurrent Employee Benefit Liabilities		 732 716 756 753 735 713 679 679 665 647 569
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,775 3,872 4,037 4,086 4,277 4,503 4,554 4,792 5,042 5,143 5,522
Total Preferred & Common Equity		 3,775 3,872 4,037 4,086 4,277 4,503 4,554 4,792 5,042 5,143 5,522
Total Common Equity		 3,720 3,817 3,982 4,031 4,222 4,448 4,499 4,737 4,987 5,088 5,522
Common Stock		 4,194 4,182 4,092 3,950 3,894 3,793 3,611 3,499 3,302 3,120 2,588
Retained Earnings		 1,334 1,485 1,720 1,942 2,186 2,453 2,766 3,068 3,434 3,722 4,625
Accumulated Other Comprehensive Income / (Loss)		 -1,808 -1,850 -1,830 -1,861 -1,858 -1,798 -1,878 -1,830 -1,749 -1,754 -1,691

Annual Metrics And Ratios for Howmet Aerospace

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 2025
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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -1.03% -0.15% 4.57% -47.70% 4.72% -25.91% -5.46% 13.90% 17.25% 11.90% 11.06%
EBITDA Growth		 0.47% 5.63% -25.82% -8.97% -21.51% -17.90% 12.25% 10.31% 33.12% 25.97% 23.86%
EBIT Growth		 18.20% 39.18% 5.81% -16.67% -31.93% 0.73% 32.07% 14.81% 42.77% 31.46% 27.69%
NOPAT Growth		 -80.31% -357.13% 96.91% 840.36% -37.91% 122.35% -22.89% 19.41% 32.71% 44.49% 22.95%
Net Income Growth		 -211.30% -345.69% 91.57% 967.57% -26.79% -44.47% -1.15% 81.78% 63.11% 50.98% 30.56%
EPS Growth		 -211.30% -148.39% 0.00% 0.00% 0.00% 0.00% 0.00% 88.14% 64.86% 53.55% 32.03%
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% 45.15%
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% 11.27%
Invested Capital Growth		 -40.34% -11.26% -7.17% 0.09% -23.90% -3.91% -0.52% -0.66% 2.14% 2.31% 4.67%
Revenue Q/Q Growth		 0.90% 172.34% 2.40% -50.93% 109.44% 32.60% 0.95% 4.20% 3.39% 2.20% 3.47%
EBITDA Q/Q Growth		 -22.22% 49.71% -24.53% 20.72% 29.67% -5.82% -0.60% 6.17% 8.83% 6.57% 2.23%
EBIT Q/Q Growth		 -45.06% 753.27% -31.29% 39.76% 95.71% 1.28% -0.82% 8.28% 10.96% 7.46% 2.56%
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% 4.09%
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% 4.00%
EPS Q/Q Growth		 -128.89% -162.50% 0.00% 0.00% 0.00% 0.00% -11.94% 5.71% 20.39% 7.25% 4.51%
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% 10.18%
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% -1.49%
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% 0.04%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 18.60% 21.77% 21.13% 24.55% 26.54% 26.26% 27.68% 27.55% 28.12% 31.10% 34.17%
EBITDA Margin		 15.60% 16.50% 11.71% 20.37% 15.27% 16.92% 20.09% 19.46% 22.09% 24.87% 27.74%
Operating Margin		 5.06% 7.70% 3.70% 11.43% 8.16% 11.90% 15.04% 16.23% 18.12% 21.98% 24.79%
EBIT Margin		 5.28% 7.37% 7.45% 11.88% 7.72% 10.50% 14.66% 14.78% 18.00% 21.14% 24.31%
Profit (Net Income) Margin		 -1.59% -7.08% -0.57% 9.47% 6.62% 4.96% 5.19% 8.28% 11.52% 15.55% 18.27%
Tax Burden Percent		 -107.65% -212.08% -15.74% 150.00% 223.81% 152.63% 79.63% 77.39% 78.46% 83.51% 81.96%
Interest Burden Percent		 27.90% 45.35% 48.65% 53.17% 38.32% 30.98% 44.44% 72.40% 81.59% 88.03% 91.72%
Effective Tax Rate		 185.25% 356.52% 115.74% 27.80% 40.00% -23.39% 20.37% 22.61% 21.54% 16.49% 18.04%
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% 22.25%
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% 15.71%
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% 8.19%
Return on Equity (ROE)		 -1.36% -9.11% -1.47% 12.22% 9.22% 6.38% 7.28% 13.19% 20.03% 26.89% 30.44%
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% 17.69%
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% 18.49%
Return on Assets (ROA)		 -0.53% -3.11% -0.38% 3.43% 2.59% 1.80% 2.38% 4.58% 7.40% 11.03% 13.90%
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% 30.27%
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% 0.00%
Net Operating Profit after Tax (NOPAT)		 -535 -2,447 -76 560 347 772 596 711 944 1,364 1,677
NOPAT Margin		 -4.31% -19.75% -0.58% 8.26% 4.89% 14.69% 11.98% 12.56% 14.22% 18.36% 20.32%
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% 6.54%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 9.16% 12.19% 17.33% 19.96%
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% 65.83%
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% 4.48%
R&D to Revenue		 1.36% 1.05% 0.84% 0.60% 0.39% 0.32% 0.34% 0.57% 0.54% 0.44% 0.45%
Operating Expenses to Revenue		 13.54% 14.07% 17.43% 13.12% 18.39% 14.36% 12.63% 11.32% 10.00% 9.13% 9.38%
Earnings before Interest and Taxes (EBIT)		 656 913 966 805 548 552 729 837 1,195 1,571 2,006
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 2,289
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 15.39
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 94.26
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 9.98
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 54.70
Dividend Yield		 1.28% 2.02% 0.91% 1.45% 0.39% 11.42% 0.13% 0.26% 0.32% 0.24% 0.21%
Earnings Yield		 0.00% 0.00% 0.00% 8.01% 3.57% 2.13% 1.90% 2.89% 3.44% 2.60% 1.83%
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 10.99
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 10.26
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 37.00
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 42.22
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 50.51
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 44.95
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 63.54
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 0.57
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 0.53
Financial Leverage		 0.09 0.16 1.01 0.85 0.69 0.78 1.01 0.99 0.87 0.70 0.52
Leverage Ratio		 2.55 2.93 3.85 3.56 3.56 3.55 3.06 2.88 2.71 2.44 2.19
Compound Leverage Factor		 0.71 1.33 1.87 1.89 1.36 1.10 1.36 2.09 2.21 2.15 2.01
Debt to Total Capital		 38.45% 61.13% 58.16% 53.13% 56.33% 58.66% 54.68% 53.61% 47.86% 42.13% 36.30%
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% 2.27%
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% 34.02%
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% 0.00%
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% 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% 63.70%
Debt to EBITDA		 4.56 3.95 4.51 4.58 5.48 5.70 4.24 3.78 2.53 1.79 1.33
Net Debt to EBITDA		 3.86 2.54 3.09 2.93 4.02 3.89 3.52 3.06 2.11 1.49 1.01
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 1.25
Debt to NOPAT		 -16.49 -3.30 -90.56 11.31 17.10 6.57 7.11 5.85 3.93 2.43 1.82
Net Debt to NOPAT		 -13.94 -2.13 -62.11 7.24 12.56 4.49 5.90 4.74 3.28 2.02 1.38
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 1.71
Altman Z-Score		 1.16 1.20 1.55 1.04 1.24 1.81 2.18 2.62 3.51 6.24 10.54
Noncontrolling Interest Sharing Ratio		 16.19% 11.52% 1.49% 1.29% 1.33% 1.52% 1.55% 1.55% 1.44% 1.28% 0.56%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.53 2.14 2.26 1.87 1.42 2.21 2.18 2.12 1.86 2.17 2.13
Quick Ratio		 0.52 1.21 1.25 1.07 0.61 1.18 0.91 0.90 0.73 0.82 0.87
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 7,463 -1,115 677 551 2,677 1,062 633 758 793 1,198 1,333
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% 415.89%
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 88.86
Operating Cash Flow to Interest Expense		 3.34 0.19 -0.08 0.58 1.36 0.02 1.11 366.50 450.50 216.33 125.60
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 95.40
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.34 0.44 0.67 0.36 0.39 0.36 0.46 0.55 0.64 0.71 0.76
Accounts Receivable Turnover		 7.13 8.84 9.18 4.72 5.84 8.16 12.80 11.83 10.81 10.61 10.97
Inventory Turnover		 3.77 4.27 4.32 2.06 2.54 2.51 2.49 2.73 2.83 2.84 2.95
Fixed Asset Turnover		 1.14 2.27 2.34 1.20 1.70 2.01 1.97 2.36 2.85 3.15 3.31
Accounts Payable Turnover		 4.33 5.96 5.71 2.58 3.36 4.92 5.40 4.84 4.91 5.30 6.06
Days Sales Outstanding (DSO)		 51.19 41.30 39.78 77.33 62.48 44.73 28.52 30.84 33.78 34.41 33.28
Days Inventory Outstanding (DIO)		 96.92 85.40 84.51 177.43 143.47 145.65 146.67 133.93 129.01 128.52 123.94
Days Payable Outstanding (DPO)		 84.21 61.25 63.98 141.60 108.68 74.12 67.55 75.35 74.33 68.81 60.24
Cash Conversion Cycle (CCC)		 63.91 65.45 60.31 113.16 97.27 116.26 107.64 89.42 88.46 94.13 96.98
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 7,708
Invested Capital Turnover		 0.78 1.11 1.28 0.70 0.83 0.72 0.70 0.80 0.93 1.02 1.10
Increase / (Decrease) in Invested Capital		 -7,998 -1,332 -753 9.00 -2,330 -290 -37 -47 151 166 344
Enterprise Value (EV)		 21,872 13,113 17,520 12,134 17,610 15,769 17,045 19,607 25,349 47,204 84,692
Market Capitalization		 12,267 7,831 12,757 8,014 13,178 12,249 13,478 16,181 22,198 44,398 82,384
Book Value per Share		 $9.15 $11.54 $10.09 $11.42 $10.48 $8.12 $8.08 $8.57 $9.67 $11.07 $13.31
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 $2.17
Total Capital		 22,958 13,225 11,768 11,915 10,545 8,652 7,740 7,763 7,743 7,869 8,403
Total Debt		 8,827 8,084 6,844 6,330 5,940 5,075 4,232 4,162 3,706 3,315 3,050
Total Long-Term Debt		 8,786 8,044 6,806 5,896 4,906 4,699 4,227 4,162 3,500 3,309 2,859
Net Debt		 7,465 5,201 4,694 4,053 4,363 3,465 3,512 3,371 3,096 2,751 2,308
Capital Expenditures (CapEx)		 1,068 433 596 768 641 267 199 193 219 321 453
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 1,457
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 2,199
Net Working Capital (NWC)		 2,742 3,143 3,554 3,061 1,718 2,012 1,484 1,661 1,532 1,813 2,008
Net Nonoperating Expense (NNE)		 -338 -1,569 -1.57 -82 -123 511 338 242 179 209 169
Net Nonoperating Obligations (NNO)		 -2,304 5,354 4,818 4,166 2,816 3,554 3,586 3,446 3,161 2,810 2,355
Total Depreciation and Amortization (D&A)		 1,280 1,132 551 576 536 338 270 265 272 277 283
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% 17.66%
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% 26.65%
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% 24.33%
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 $3.73
Adjusted Weighted Average Basic Shares Outstanding		 571.80M 574.74M 629.84M 632.67M 581.87M 435M 430M 416M 412M 408M 404M
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 $3.71
Adjusted Weighted Average Diluted Shares Outstanding		 571.80M 574.74M 629.84M 632.67M 604.04M 439M 435M 421M 416M 410M 406M
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 $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 400.94M
Normalized Net Operating Profit after Tax (NOPAT)		 607 776 955 677 697 566 667 755 962 1,381 1,746
Normalized NOPAT Margin		 4.89% 6.26% 7.37% 9.99% 9.81% 10.75% 13.42% 13.32% 14.49% 18.59% 21.15%
Pre Tax Income Margin		 1.47% 3.34% 3.63% 6.31% 2.96% 3.25% 6.52% 10.70% 14.68% 18.61% 22.30%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.39 1.83 1.95 2.14 1.62 1.45 1.80 418.50 597.50 261.83 133.73
NOPAT to Interest Expense		 -1.13 -4.90 -0.15 1.48 1.03 2.03 1.47 355.62 471.95 227.30 111.79
EBIT Less CapEx to Interest Expense		 -0.87 0.96 0.75 0.10 -0.28 0.75 1.31 322.00 488.00 208.33 103.53
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 81.59
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% 12.00%
Augmented Payout Ratio		 -167.01% -51.71% -237.84% 18.54% 256.81% 32.18% 174.03% 94.67% 42.22% 52.73% 58.42%

Quarterly Metrics And Ratios for Howmet Aerospace

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 400,940,063.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 400,940,063.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 1.45
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 15.70% 14.41% 13.79% 14.08% 10.68% 9.24% 6.47% 9.20% 13.84% 14.65% 19.10%
EBITDA Growth		 61.06% 43.75% 20.75% 23.84% 29.67% 29.16% 32.22% 27.43% 27.97% 9.90% 48.92%
EBIT Growth		 83.85% 57.56% 26.62% 28.52% 36.49% 33.75% 37.78% 32.38% 31.68% 11.57% 54.85%
NOPAT Growth		 35.98% 72.70% 54.35% 40.03% 65.55% 25.09% 28.75% 42.64% 6.77% 18.68% 61.90%
Net Income Growth		 135.00% 112.61% 64.19% 37.82% 76.60% 33.05% 41.56% 53.01% 15.96% 18.47% 68.60%
EPS Growth		 136.84% 119.23% 68.57% 41.30% 80.00% 33.33% 42.37% 53.85% 17.28% 21.05% 71.43%
Operating Cash Flow Growth		 193.85% 0.66% 669.57% 73.36% 27.75% 4.80% 42.94% 12.34% 117.62% 36.25% 79.05%
Free Cash Flow Firm Growth		 -100.77% -36.82% 82.75% 595.25% 9,997.09% 42.18% -78.99% -130.70% -34.01% -58.50% 606.28%
Invested Capital Growth		 3.41% 2.14% 0.21% -0.74% 2.01% 2.31% 4.42% 7.81% 3.46% 4.67% 2.63%
Revenue Q/Q Growth		 0.61% 4.40% 5.37% 3.07% -2.39% 3.05% 2.70% 5.72% 1.75% 3.78% 6.69%
EBITDA Q/Q Growth		 -0.27% 7.42% 7.16% 7.88% 4.42% 6.99% 9.70% 3.97% 4.86% -8.11% 48.65%
EBIT Q/Q Growth		 -0.67% 9.12% 8.98% 8.81% 5.48% 6.93% 12.27% 4.54% 4.93% -9.40% 55.81%
NOPAT Q/Q Growth		 5.36% 19.48% 3.85% 7.11% 24.57% -9.72% 6.89% 18.66% -6.76% 0.35% 45.82%
Net Income Q/Q Growth		 -2.59% 25.53% 2.97% 9.47% 24.81% -5.42% 9.55% 18.31% -5.41% -3.38% 55.91%
EPS Q/Q Growth		 -2.17% 26.67% 3.51% 10.17% 24.62% -6.17% 10.53% 19.05% -5.00% -3.16% 56.52%
Operating Cash Flow Q/Q Growth		 -16.59% 139.79% -61.35% 124.29% -38.54% 96.72% -47.29% 76.28% 19.06% 23.16% -30.73%
Free Cash Flow Firm Q/Q Growth		 -104.69% 5,449.08% 109.73% 32.05% -33.19% -23.15% -69.01% -292.93% 243.63% -51.67% 427.40%
Invested Capital Q/Q Growth		 -0.03% -1.40% 1.28% -0.58% 2.75% -1.11% 3.37% 2.65% -1.39% 0.04% 1.35%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 28.65% 28.94% 29.28% 31.54% 31.72% 31.84% 33.57% 33.51% 34.66% 34.87% 36.92%
EBITDA Margin		 21.95% 22.59% 22.97% 24.04% 25.72% 26.71% 28.53% 28.06% 28.91% 25.60% 35.67%
Operating Margin		 18.52% 18.83% 20.23% 21.17% 22.94% 23.53% 25.44% 25.38% 25.95% 22.56% 32.56%
EBIT Margin		 17.85% 18.66% 19.30% 20.37% 22.02% 22.85% 24.97% 24.70% 25.47% 22.23% 32.47%
Profit (Net Income) Margin		 11.34% 13.63% 13.32% 14.15% 18.09% 16.61% 17.71% 19.82% 18.43% 17.16% 25.08%
Tax Burden Percent		 77.69% 87.41% 80.20% 79.64% 93.79% 80.10% 77.13% 86.78% 77.78% 86.51% 81.92%
Interest Burden Percent		 81.76% 83.59% 86.08% 87.21% 87.62% 90.74% 91.96% 92.50% 93.05% 89.21% 94.27%
Effective Tax Rate		 22.31% 12.59% 19.80% 20.36% 6.21% 19.90% 22.87% 13.22% 22.22% 13.49% 18.08%
Return on Invested Capital (ROIC)		 12.87% 15.35% 15.29% 16.44% 21.21% 19.24% 19.88% 22.58% 21.24% 21.37% 29.82%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.47% 13.86% 13.71% 14.87% 19.24% 17.81% 18.65% 21.01% 19.91% 19.39% 28.38%
Return on Net Nonoperating Assets (RNNOA)		 11.58% 11.99% 11.74% 12.00% 14.64% 12.38% 12.65% 12.95% 11.37% 10.11% 14.06%
Return on Equity (ROE)		 24.44% 27.34% 27.02% 28.44% 35.86% 31.62% 32.53% 35.52% 32.61% 31.48% 43.88%
Cash Return on Invested Capital (CROIC)		 8.11% 11.13% 14.16% 16.37% 15.54% 16.45% 15.10% 13.49% 17.86% 17.69% 22.20%
Operating Return on Assets (OROA)		 11.41% 11.98% 12.86% 13.82% 15.45% 16.21% 17.80% 17.55% 18.69% 16.91% 23.49%
Return on Assets (ROA)		 7.25% 8.75% 8.88% 9.60% 12.69% 11.78% 12.62% 14.09% 13.52% 13.05% 18.14%
Return on Common Equity (ROCE)		 24.07% 26.95% 26.64% 28.05% 35.38% 31.21% 32.12% 35.10% 32.24% 31.30% 43.65%
Return on Equity Simple (ROE_SIMPLE)		 16.53% 0.00% 21.05% 21.81% 23.92% 0.00% 26.21% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 238 285 296 317 395 356 381 452 422 423 617
NOPAT Margin		 14.38% 16.46% 16.22% 16.86% 21.52% 18.85% 19.62% 22.02% 20.18% 19.51% 26.67%
Net Nonoperating Expense Percent (NNEP)		 1.40% 1.48% 1.58% 1.57% 1.97% 1.42% 1.23% 1.57% 1.33% 1.98% 1.44%
Return On Investment Capital (ROIC_SIMPLE)		 - 3.68% - - - 4.53% 4.69% 5.45% 5.06% 5.03% 6.04%
Cost of Revenue to Revenue		 71.35% 71.06% 70.72% 68.46% 68.28% 68.17% 66.43% 66.49% 65.34% 65.13% 63.08%
SG&A Expenses to Revenue		 5.25% 4.79% 4.82% 5.16% 4.63% 4.07% 4.38% 4.34% 4.79% 4.43% 4.80%
R&D to Revenue		 0.54% 0.52% 0.55% 0.37% 0.49% 0.37% 0.41% 0.44% 0.48% 0.46% 0.39%
Operating Expenses to Revenue		 10.13% 10.11% 9.05% 10.37% 8.77% 8.30% 8.14% 8.13% 8.71% 12.32% 4.37%
Earnings before Interest and Taxes (EBIT)		 296 323 352 383 404 432 485 507 532 482 751
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 364 391 419 452 472 505 554 576 604 555 825
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.98 5.57 6.98 7.50 9.20 9.87 11.09 15.07 15.55 15.39 16.73
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 3,171.31 219.85 165.13 139.27 94.26 93.05
Price to Revenue (P/Rev)		 2.96 3.34 4.10 4.46 5.63 5.98 6.96 9.73 9.92 9.98 10.72
Price to Earnings (P/E)		 29.88 29.09 32.79 34.01 38.06 38.51 41.90 53.86 54.63 54.70 53.01
Dividend Yield		 0.35% 0.32% 0.26% 0.25% 0.23% 0.24% 0.24% 0.19% 0.20% 0.21% 0.20%
Earnings Yield		 3.35% 3.44% 3.05% 2.94% 2.63% 2.60% 2.39% 1.86% 1.83% 1.83% 1.89%
Enterprise Value to Invested Capital (EV/IC)		 3.07 3.52 4.30 4.78 5.89 6.41 7.28 9.97 10.60 10.99 12.12
Enterprise Value to Revenue (EV/Rev)		 3.49 3.82 4.57 4.88 6.04 6.35 7.34 10.09 10.24 10.26 10.98
Enterprise Value to EBITDA (EV/EBITDA)		 16.64 17.28 20.37 21.29 25.31 25.54 27.93 36.97 36.49 37.00 36.97
Enterprise Value to EBIT (EV/EBIT)		 20.82 21.21 24.70 25.57 30.02 30.05 32.50 42.62 41.76 42.22 41.66
Enterprise Value to NOPAT (EV/NOPAT)		 27.25 26.86 29.97 30.46 33.94 34.61 38.28 49.24 50.71 50.51 49.49
Enterprise Value to Operating Cash Flow (EV/OCF)		 24.97 28.13 29.71 28.31 34.40 36.37 40.31 54.75 47.77 44.95 45.42
Enterprise Value to Free Cash Flow (EV/FCFF)		 38.53 31.97 30.40 29.07 38.30 39.41 49.23 76.67 60.38 63.54 55.27
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.98 0.92 0.90 0.86 0.75 0.73 0.69 0.65 0.62 0.57 0.85
Long-Term Debt to Equity		 0.98 0.87 0.85 0.67 0.75 0.73 0.69 0.65 0.62 0.53 0.73
Financial Leverage		 1.01 0.87 0.86 0.81 0.76 0.70 0.68 0.62 0.57 0.52 0.50
Leverage Ratio		 2.81 2.71 2.62 2.60 2.47 2.44 2.39 2.33 2.25 2.19 2.31
Compound Leverage Factor		 2.30 2.26 2.26 2.26 2.17 2.21 2.19 2.16 2.10 1.95 2.18
Debt to Total Capital		 49.49% 47.86% 47.47% 46.11% 42.98% 42.13% 40.96% 39.25% 38.27% 36.30% 45.91%
Short-Term Debt to Total Capital		 0.00% 2.66% 2.65% 9.85% 0.01% 0.08% 0.09% 0.06% 0.01% 2.27% 6.23%
Long-Term Debt to Total Capital		 49.49% 45.20% 44.82% 36.25% 42.97% 42.05% 40.87% 39.19% 38.26% 34.02% 39.67%
Preferred Equity to Total Capital		 0.72% 0.71% 0.71% 0.69% 0.70% 0.70% 0.68% 0.66% 0.66% 0.00% 0.00%
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% 0.00%
Common Equity to Total Capital		 49.79% 51.43% 51.83% 53.20% 56.33% 57.17% 58.37% 60.08% 61.07% 63.70% 54.09%
Debt to EBITDA		 2.81 2.53 2.40 2.25 1.96 1.79 1.68 1.55 1.42 1.33 1.83
Net Debt to EBITDA		 2.50 2.11 2.05 1.79 1.68 1.49 1.41 1.29 1.13 1.01 0.88
Long-Term Debt to EBITDA		 2.81 2.39 2.27 1.77 1.96 1.79 1.67 1.54 1.42 1.25 1.58
Debt to NOPAT		 4.61 3.93 3.53 3.22 2.62 2.43 2.30 2.06 1.98 1.82 2.45
Net Debt to NOPAT		 4.09 3.28 3.02 2.56 2.26 2.02 1.93 1.71 1.57 1.38 1.18
Long-Term Debt to NOPAT		 4.61 3.71 3.33 2.53 2.62 2.43 2.29 2.06 1.98 1.71 2.12
Altman Z-Score		 2.94 3.23 3.89 4.18 5.41 5.88 6.74 9.02 9.44 10.09 9.00
Noncontrolling Interest Sharing Ratio		 1.54% 1.44% 1.40% 1.37% 1.31% 1.28% 1.24% 1.18% 1.14% 0.56% 0.53%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.14 1.86 1.97 1.53 2.24 2.17 2.30 2.31 2.35 2.13 2.44
Quick Ratio		 0.79 0.73 0.79 0.64 0.82 0.82 0.93 0.90 0.96 0.87 1.46
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -2.50 134 281 371 248 190 59 -114 164 79 417
Operating Cash Flow to CapEx		 323.73% 832.73% 215.85% 721.82% 297.56% 470.59% 212.61% 437.25% 491.67% 527.42% 481.91%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 5.73 7.57 41.31 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 3.61 8.10 40.67 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 1.94 6.98 27.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.64 0.64 0.67 0.68 0.70 0.71 0.71 0.71 0.73 0.76 0.72
Accounts Receivable Turnover		 9.68 10.81 9.31 9.86 9.68 10.61 8.86 9.25 9.52 10.97 9.37
Inventory Turnover		 2.77 2.83 2.84 2.80 2.77 2.84 2.78 2.73 2.74 2.95 2.89
Fixed Asset Turnover		 2.80 2.85 2.97 3.07 3.12 3.15 3.19 3.20 3.25 3.31 3.41
Accounts Payable Turnover		 5.45 4.91 5.32 5.39 5.59 5.30 5.24 5.20 5.67 6.06 5.47
Days Sales Outstanding (DSO)		 37.71 33.78 39.21 37.02 37.71 34.41 41.20 39.47 38.35 33.28 38.96
Days Inventory Outstanding (DIO)		 131.79 129.01 128.33 130.31 131.65 128.52 131.38 133.86 133.27 123.94 126.33
Days Payable Outstanding (DPO)		 66.91 74.33 68.58 67.73 65.32 68.81 69.70 70.20 64.42 60.24 66.76
Cash Conversion Cycle (CCC)		 102.58 88.46 98.96 99.60 104.03 94.13 102.88 103.14 107.21 96.98 98.53
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 7,300 7,198 7,290 7,248 7,447 7,364 7,612 7,814 7,705 7,708 7,812
Invested Capital Turnover		 0.89 0.93 0.94 0.98 0.99 1.02 1.01 1.03 1.05 1.10 1.12
Increase / (Decrease) in Invested Capital		 241 151 15 -54 147 166 322 566 258 344 200
Enterprise Value (EV)		 22,426 25,349 31,348 34,622 43,891 47,204 55,387 77,904 81,690 84,692 94,652
Market Capitalization		 19,001 22,198 28,134 31,660 40,917 44,398 52,544 75,136 79,105 82,384 92,401
Book Value per Share		 $9.26 $9.67 $9.83 $10.34 $10.90 $11.07 $11.70 $12.35 $12.62 $13.31 $13.77
Tangible Book Value per Share		 ($1.69) ($1.36) ($1.19) ($0.69) ($0.20) $0.03 $0.59 $1.13 $1.41 $2.17 $2.48
Total Capital		 7,666 7,743 7,778 7,936 7,897 7,869 8,116 8,300 8,332 8,403 10,208
Total Debt		 3,794 3,706 3,692 3,659 3,394 3,315 3,324 3,258 3,189 3,050 4,686
Total Long-Term Debt		 3,794 3,500 3,486 2,877 3,393 3,309 3,317 3,253 3,188 2,859 4,050
Net Debt		 3,370 3,096 3,159 2,907 2,919 2,751 2,788 2,713 2,530 2,308 2,251
Capital Expenditures (CapEx)		 59 55 82 55 82 102 119 102 108 124 94
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,233 1,128 1,315 1,275 1,400 1,255 1,477 1,554 1,541 1,457 1,543
Debt-free Net Working Capital (DFNWC)		 1,657 1,738 1,848 2,027 1,875 1,819 2,013 2,099 2,200 2,199 3,978
Net Working Capital (NWC)		 1,657 1,532 1,642 1,245 1,874 1,813 2,006 2,094 2,199 2,008 3,342
Net Nonoperating Expense (NNE)		 50 49 53 51 63 42 37 45 37 51 37
Net Nonoperating Obligations (NNO)		 3,428 3,161 3,204 2,971 2,944 2,810 2,820 2,772 2,562 2,355 2,290
Total Depreciation and Amortization (D&A)		 68 68 67 69 68 73 69 69 72 73 74
Debt-free, Cash-free Net Working Capital to Revenue		 19.20% 16.99% 19.17% 17.98% 19.26% 16.89% 19.57% 20.13% 19.32% 17.66% 17.89%
Debt-free Net Working Capital to Revenue		 25.80% 26.17% 26.93% 28.58% 25.79% 24.48% 26.67% 27.19% 27.59% 26.65% 46.13%
Net Working Capital to Revenue		 25.80% 23.07% 23.93% 17.55% 25.78% 24.40% 26.58% 27.12% 27.57% 24.33% 38.76%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.45 $0.57 $0.59 $0.65 $0.81 $0.78 $0.85 $1.01 $0.96 $0.91 $1.45
Adjusted Weighted Average Basic Shares Outstanding		 412M 412M 410M 408M 408M 408M 405M 404M 403M 404M 401M
Adjusted Diluted Earnings per Share		 $0.45 $0.57 $0.59 $0.65 $0.81 $0.76 $0.84 $1.00 $0.95 $0.92 $1.44
Adjusted Weighted Average Diluted Shares Outstanding		 415M 416M 412M 411M 410M 410M 407M 406M 405M 406M 403M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 411.74M 410.30M 408.18M 408.15M 406.26M 405.02M 403.67M 403.13M 402.06M 400.94M 400.11M
Normalized Net Operating Profit after Tax (NOPAT)		 242 298 296 334 394 356 378 452 422 499 541
Normalized NOPAT Margin		 14.57% 17.22% 16.22% 17.79% 21.47% 18.85% 19.46% 22.02% 20.18% 23.02% 23.38%
Pre Tax Income Margin		 14.60% 15.60% 16.61% 17.77% 19.29% 20.73% 22.97% 22.84% 23.70% 19.83% 30.61%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 7.18 7.82 67.33 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 6.04 6.47 65.81 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 5.51 6.69 53.67 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 4.37 5.35 52.14 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 10.78% 9.54% 8.95% 8.57% 9.01% 9.44% 10.35% 10.74% 11.31% 12.00% 10.72%
Augmented Payout Ratio		 44.38% 42.22% 52.56% 44.48% 47.08% 52.73% 48.17% 52.97% 58.90% 58.42% 60.89%

Financials Breakdown Chart

Key Financial Trends

Note: The data you provided appears to be for Howmet Aerospace (HWM), not Arconic (ARNC). I’ve prepared a summary of the provided HWM data. If you’d like, share ARNC’s data and I’ll re-run the analysis.

  • Revenue growth: Q4 2025 operating revenue rose to $2.168B, up from $1.892B in Q4 2024, continuing a multi-year uptrend into 2025.
  • Gross margin expansion: Q4 2025 gross margin around 34.9%, up from about 31.8% in Q4 2024, indicating improved pricing or mix.
  • Profitability uplift: Q4 2025 net income attributable to common shareholders (EPS) rose to $372M ($0.91–$0.92 per share) from $314M in Q4 2024, with stronger year-over-year earnings per share.
  • Operating cash flow strength: Q4 2025 net cash from continuing operating activities was $654M, up from $480M in Q4 2024, signaling robust cash generation.
  • Free cash flow potential: Positive free cash flow in Q4 2025 (approximately $530M when subtracting approx. $124M in capex) supports balance-sheet flexibility and potential returns to shareholders.
  • Debt issuance and buybacks: Q4 2025 saw a $0.5B debt issuance and a $0.2B share repurchase, which boosts liquidity/financial flexibility but modestly increases leverage and reduces equity in the near term.
  • Consistent share count framework: Weighted-average shares around 400–406M (basic/diluted) with EPS growth reflected by rising net income, indicating continued earnings power per share.
  • Capex and depreciation alignment: Depreciation around $69–$73M per quarter and capex around $100–$124M illustrate ongoing plant investment to sustain operations (neutral on near-term profitability).
  • One-time restructuring charge: Q4 2025 restructuring charge of $88M weighs on operating income and introduces a quarterly anomaly.
  • Financing activity headwinds: Net cash from financing activities in Q4 2025 was about −$449M (driven by debt issuance, debt repayment, and share buybacks), which may pressure near-term liquidity if not offset by operating cash flow.
05/25/26 05:19 PM ETAI Generated. May Contain Errors.

Howmet Aerospace Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Howmet Aerospace's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Howmet Aerospace's net income appears to be on an upward trend, with a most recent value of $1.51 billion in 2025, falling from -$197 million in 2015. The previous period was $1.16 billion in 2024. See Howmet Aerospace's forecast for analyst expectations on what's next for the company.

Howmet Aerospace's total operating income in 2025 was $2.05 billion, based on the following breakdown:
  • Total Gross Profit: $2.82 billion
  • Total Operating Expenses: $774 million

Over the last 10 years, Howmet Aerospace's total revenue changed from $12.41 billion in 2015 to $8.25 billion in 2025, a change of -33.5%.

Howmet Aerospace's total liabilities were at $5.83 billion at the end of 2025, a 2.3% decrease from 2024, and a 73.9% decrease since 2015.

In the past 10 years, Howmet Aerospace's cash and equivalents has ranged from $564 million in 2024 to $2.28 billion in 2018, and is currently $742 million as of their latest financial filing in 2025.

Over the last 10 years, Howmet Aerospace's book value per share changed from 9.15 in 2015 to 13.31 in 2025, a change of 45.5%.


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Financial statements for NYSE:HWM last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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