Astronics (ATROB) Financials

$68.55 0.00 (0.00%)

As of 05/4/2026 03:59 PM Eastern

Annual Income Statements for Astronics

This table shows Astronics' 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	67	48	20	47	52	-116	-26	-36	-26	-16	29
Consolidated Net Income / (Loss)	67	48	20	47	52	-116	-26	-36	-26	-16	29
Net Income / (Loss) Continuing Operations	67	48	20	47	52	-116	-26	-36	-26	-16	29
Total Pre-Tax Income	94	69	25	52	68	-112	-27	-30	-26	-7.87	32
Total Operating Income	99	75	32	64	1.70	-101	-29	-30	-6.67	26	76
Total Gross Profit	188	159	137	181	156	97	65	72	175	220	258
Total Revenue	692	633	624	803	773	503	445	535	689	795	862
Operating Revenue	692	633	624	803	773	503	445	535	689	795	862
Total Cost of Revenue	504	474	487	623	617	406	380	463	515	575	604
Operating Cost of Revenue	504	474	487	623	617	406	380	463	515	575	604
Total Operating Expenses	89	85	105	117	154	198	94	102	181	194	182
Selling, General & Admin Expense	89	85	89	117	143	111	99	102	127	142	138
Research & Development Expense	-	-	-	-	-	-	-	-	54	52	43
Total Other Income / (Expense), net	-4.75	-6.10	-7.11	-11	67	-12	1.71	0.25	-20	-34	-44
Interest Expense	4.75	4.35	5.37	9.71	6.14	6.74	6.80	0.00	0.00	10	33
Interest & Investment Income	-	-	-	-	-	-	-	-9.42	-23	-22	-13
Other Income / (Expense), net	-	-1.74	-1.74	-1.67	73	-4.97	8.52	9.67	3.69	-2.19	0.74
Income Tax Expense	27	20	5.31	5.48	16	3.37	-1.38	5.95	0.11	8.35	2.59
Basic Earnings per Share	$2.29	$1.44	$0.60	$1.45	$1.62	($3.76)	($0.82)	($1.11)	($0.80)	($0.46)	$0.83
Weighted Average Basic Shares Outstanding	25.43M	29.10M	28.59M	65.19M	30.72M	30.89M	31.52M	64.57M	34.52M	35.27M	35.69M
Diluted Earnings per Share	$2.22	$1.40	$0.58	$1.41	$1.60	($3.76)	($0.82)	($1.11)	($0.80)	($0.46)	$0.81
Weighted Average Diluted Shares Outstanding	25.43M	29.10M	28.59M	65.19M	30.72M	30.89M	31.52M	64.57M	34.52M	35.27M	35.69M
Weighted Average Basic & Diluted Shares Outstanding	25.43M	29.10M	28.59M	65.19M	30.72M	30.89M	31.52M	64.57M	34.52M	35.27M	35.69M

This table shows Astronics' income and expenses over time, based on quarterly financial 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	Q4 2025
Period end date	7/1/2023	9/30/2023	12/31/2023	3/30/2024	6/29/2024	9/28/2024	12/31/2024	3/29/2025	6/28/2025	9/27/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-12	-17	6.98	-3.18	1.53	-12	-2.83	9.53	1.31	-11	30
Consolidated Net Income / (Loss)	-12	-17	6.98	-3.18	1.53	-12	-2.83	9.53	1.31	-11	30
Net Income / (Loss) Continuing Operations	-12	-17	6.98	-3.18	1.53	-12	-2.83	9.53	1.31	-11	30
Total Pre-Tax Income	-3.90	-21	1.53	-4.53	1.26	-5.17	0.58	10	1.85	-12	32
Total Operating Income	2.40	-14	7.78	1.67	7.55	8.37	8.88	13	4.76	23	35
Total Gross Profit	33	21	40	48	56	55	50	61	53	65	80
Total Revenue	174	163	195	185	198	204	209	206	205	211	240
Operating Revenue	174	163	195	185	198	204	209	206	205	211	240
Total Cost of Revenue	142	142	155	138	143	148	158	145	152	147	160
Operating Cost of Revenue	142	142	155	138	143	148	158	145	152	147	160
Total Operating Expenses	30	35	32	46	48	47	41	48	48	41	45
Selling, General & Admin Expense	30	35	32	33	34	34	41	37	36	31	34
Research & Development Expense	-	-	-	13	14	12	-	11	12	10	11
Total Other Income / (Expense), net	-6.30	-6.34	-6.25	-6.20	-6.29	-14	-8.30	-2.96	-2.91	-35	-3.22
Interest & Investment Income	-5.92	-5.99	-	-5.76	-5.86	-6.22	-	-3.15	-3.10	-2.92	-3.39
Other Income / (Expense), net	-0.38	-0.35	-0.30	-0.44	-0.44	-0.34	-0.97	0.19	0.19	0.19	0.18
Income Tax Expense	8.10	-3.84	-5.44	-1.35	-0.27	6.57	3.41	0.65	0.54	-1.23	2.63
Basic Earnings per Share	($0.37)	($0.51)	$0.22	($0.09)	$0.04	($0.34)	($0.07)	$0.27	$0.04	($0.31)	$0.83
Weighted Average Basic Shares Outstanding	32.54M	33.94M	34.52M	34.84M	34.99M	35.26M	35.27M	35.41M	35.41M	35.63M	35.69M
Diluted Earnings per Share	($0.37)	($0.51)	$0.22	($0.09)	$0.04	($0.34)	($0.07)	$0.26	$0.04	($0.31)	$0.82
Weighted Average Diluted Shares Outstanding	32.54M	33.94M	34.52M	34.84M	34.99M	35.26M	35.27M	35.41M	35.41M	35.63M	35.69M
Weighted Average Basic & Diluted Shares Outstanding	32.54M	33.94M	34.52M	34.84M	34.99M	35.26M	35.27M	35.41M	35.41M	35.63M	35.69M

This table details how cash moves in and out of Astronics' 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	-2.64	-0.66	0.01	-0.92	15	8.51	-11	-16	-2.47	7.12	-0.25
Net Cash From Operating Activities	79	49	38	55	43	37	-5.53	-28	-24	31	75
Net Cash From Continuing Operating Activities	79	49	38	55	43	37	-5.53	-28	-24	31	75
Net Income / (Loss) Continuing Operations	67	48	20	47	52	-116	-26	-36	-26	-16	29
Consolidated Net Income / (Loss)	67	48	20	47	52	-116	-26	-36	-26	-16	29
Depreciation Expense	25	26	27	35	33	32	29	28	26	24	22
Amortization Expense	-	-	-	-	-	-	0.00	0.00	3.02	3.19	3.04
Non-Cash Adjustments To Reconcile Net Income	5.17	4.85	21	6.70	-9.95	110	17	13	35	51	70
Changes in Operating Assets and Liabilities, net	-19	-30	-30	-34	-32	12	-26	-33	-61	-32	-49
Net Cash From Investing Activities	-74	-15	-130	-20	65	-5.80	3.18	14	-4.11	-8.43	-54
Net Cash From Continuing Investing Activities	-74	-15	-130	-20	65	-5.80	3.18	14	-4.11	-8.43	-54
Purchase of Property, Plant & Equipment	-19	-13	-13	-16	-12	-7.46	-6.03	-7.68	-7.64	-8.43	-32
Acquisitions	-52	0.00	-114	0.00	-29	-	-	-	0.00	0.00	-22
Divestitures	-	-	0.00	0.00	107	0.00	9.21	22	3.54	0.00	0.00
Net Cash From Financing Activities	-6.73	-35	91	-36	-92	-25	-7.51	-1.41	25	-15	-22
Net Cash From Continuing Financing Activities	-6.73	-35	91	-36	-92	-25	-7.51	-1.41	25	-15	-22
Repayment of Debt	-68	-42	-24	-73	-156	-171	-30	-127	-138	-387	-122
Repurchase of Preferred Equity	-	-	-	-	-	-	-	-	0.00	0.00	-286
Issuance of Debt	55	20	147	35	117	155	20	126	140	377	411
Issuance of Common Equity	-	-	-	-	-	-	0.00	0.00	21	0.00	0.00
Other Financing Activities, net	5.97	4.65	-	2.20	-2.29	-1.26	2.50	0.10	2.48	-4.74	-26
Effect of Exchange Rate Changes	-0.83	-0.09	-	-	0.15	1.54	-0.80	-0.64	0.16	-0.49	1.10
Cash Interest Paid	4.73	4.54	4.78	9.71	5.71	5.83	5.95	7.61	18	19	8.98
Cash Income Taxes Paid	33	16	11	12	27	-1.54	-1.25	-9.98	1.96	3.54	12

This table details how cash moves in and out of Astronics' business through operations, investing, and financing, using quarterly figures. 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	Q4 2025
Period end date	7/1/2023	9/30/2023	12/31/2023	3/30/2024	6/29/2024	9/28/2024	12/31/2024	3/29/2025	6/28/2025	9/27/2025	12/31/2025
Net Change in Cash & Equivalents	-1.42	3.36	3.66	-4.70	-2.22	1.97	12	7.52	-12	6.12	-1.40
Net Cash From Operating Activities	-1.97	-1.13	-1.67	2.04	-6.26	8.37	26	21	-7.63	34	28
Net Cash From Continuing Operating Activities	-1.97	-1.13	-1.67	2.04	-6.26	8.37	26	21	-7.63	34	28
Net Income / (Loss) Continuing Operations	-12	-17	6.98	-3.18	1.53	-12	-2.83	9.53	1.31	-11	30
Consolidated Net Income / (Loss)	-12	-17	6.98	-3.18	1.53	-12	-2.83	9.53	1.31	-11	30
Depreciation Expense	6.71	6.39	6.35	6.33	6.20	6.04	5.89	5.59	5.38	5.16	5.71
Amortization Expense	0.75	0.79	0.88	0.83	0.86	1.02	0.48	0.60	0.61	0.59	1.23
Non-Cash Adjustments To Reconcile Net Income	4.63	17	12	11	5.63	17	18	12	4.01	42	12
Changes in Operating Assets and Liabilities, net	-2.06	-8.30	-28	-13	-20	-3.69	4.56	-6.71	-19	-2.18	-21
Net Cash From Investing Activities	-2.24	-2.23	-1.50	-1.60	-1.80	-1.85	-3.18	-2.11	-4.61	-18	-29
Net Cash From Continuing Investing Activities	-2.24	-2.23	-1.50	-1.60	-1.80	-1.85	-3.18	-2.11	-4.61	-18	-29
Purchase of Property, Plant & Equipment	-2.23	-2.23	-1.61	-1.60	-1.80	-1.85	-3.18	-2.11	-4.61	-13	-12
Acquisitions	-	-	-	-	-	-	-	-	-	-	-17
Net Cash From Financing Activities	2.77	6.83	6.66	-5.04	5.85	-4.71	-11	-11	-1.18	-10	0.21
Net Cash From Continuing Financing Activities	2.77	6.83	6.66	-5.04	5.85	-4.71	-11	-11	-1.18	-10	0.21
Repayment of Debt	-2.83	-13	-5.56	-8.11	-3.29	-185	-195	-11	-1.18	-7.42	-102
Issuance of Debt	5.61	4.00	4.00	1.36	14	181	181	1.14	-	310	100
Other Financing Activities, net	-0.01	3.11	-0.00	1.71	-4.90	0.02	2.98	-1.73	-	-27	2.48
Effect of Exchange Rate Changes	0.02	-0.12	0.18	-0.10	-0.01	0.16	-	0.35	0.93	-0.22	0.04
Cash Interest Paid	-	-	3.55	5.00	-	-	3.98	2.72	0.24	4.63	1.38
Cash Income Taxes Paid	-	-	-0.23	0.03	-	-	-0.44	0.83	12	-0.21	-1.03

This table presents Astronics' 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	609	604	736	775	783	620	609	615	634	649	707
Total Current Assets	250	255	315	374	343	317	340	365	390	426	438
Cash & Equivalents	19	18	18	17	32	40	30	14	4.76	9.29	18
Restricted Cash	-	-	-	-	-	-	-	0.00	6.56	9.14	0.00
Accounts Receivable	95	109	133	182	148	93	107	148	172	191	205
Inventories, net	115	117	150	139	146	157	158	188	192	200	197
Prepaid Expenses	21	11	15	17	16	26	45	16	15	17	18
Plant, Property, & Equipment, net	125	123	126	121	112	107	95	91	85	81	107
Total Noncurrent Assets	235	226	295	280	327	196	174	159	159	142	162
Goodwill	115	115	126	125	145	58	58	58	58	58	63
Intangible Assets	108	98	153	133	127	110	94	79	65	52	55
Other Noncurrent Operating Assets	11	13	16	21	55	28	21	22	35	31	44
Total Liabilities & Shareholders' Equity	609	604	736	775	783	620	609	615	634	649	707
Total Liabilities	309	267	406	388	394	349	353	375	384	393	567
Total Current Liabilities	104	87	103	128	121	94	119	152	143	156	141
Accounts Payable	39	36	55	66	61	26	35	64	61	43	41
Accrued Expenses	-	-	-	-	-	20	27	24	21	41	32
Current Deferred Revenue	39	23	20	27	31	25	27	33	22	27	26
Current Deferred & Payable Income Tax Liabilities	0.20	0.06	0.26	0.31	1.08	1.02	2.62	6.41	3.05	6.68	1.41
Current Employee Benefit Liabilities	24	25	25	32	22	16	20	16	22	33	35
Other Current Liabilities	-	-	0.00	0.91	4.52	5.00	6.78	4.44	5.07	4.70	5.80
Total Noncurrent Liabilities	205	180	303	260	273	256	234	223	241	237	425
Long-Term Debt	167	145	269	232	188	173	163	160	159	169	334
Noncurrent Deferred & Payable Income Tax Liabilities	15	11	5.12	3.20	3.92	2.91	1.42	1.87	1.31	1.43	0.64
Noncurrent Employee Benefit Liabilities	21	22	26	23	27	32	31	27	29	24	27
Other Noncurrent Operating Liabilities	1.67	1.41	2.91	1.92	54	47	38	36	51	42	63
Total Equity & Noncontrolling Interests	301	337	330	387	389	270	257	240	250	256	140
Total Preferred & Common Equity	301	337	330	387	389	270	257	240	250	256	140
Total Common Equity	300	337	330	386	389	270	257	240	250	256	140
Common Stock	58	65	68	73	77	82	92	99	130	145	5.28
Retained Earnings	257	306	325	377	429	313	287	240	210	192	217
Treasury Stock	0.00	-18	-50	-50	-101	-109	-109	-90	-81	-77	-77
Accumulated Other Comprehensive Income / (Loss)	-15	-15	-13	-13	-16	-16	-14	-9.53	-9.43	-3.86	-4.41

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

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	7/2/2022	10/1/2022	4/1/2023	7/1/2023	9/30/2023	3/30/2024	6/29/2024	9/28/2024	3/29/2025	6/28/2025	9/27/2025
Total Assets	582	599	616	654	631	630	645	652	662	647	682
Total Current Assets	324	347	374	398	381	392	412	424	432	419	433
Cash & Equivalents	11	2.57	4.22	3.47	3.98	5.31	2.86	5.18	25	13	13
Restricted Cash	-	-	1.50	0.82	3.67	1.30	1.54	1.19	1.14	0.00	6.10
Accounts Receivable	118	134	152	171	153	170	186	193	194	187	189
Inventories, net	175	190	200	207	204	199	201	205	198	194	197
Prepaid Expenses	20	21	16	16	17	16	21	19	15	24	27
Plant, Property, & Equipment, net	91	91	89	88	87	84	83	81	80	83	97
Total Noncurrent Assets	167	161	154	168	163	154	150	146	149	145	153
Goodwill	58	58	58	58	58	58	58	58	58	58	60
Intangible Assets	87	83	76	72	69	62	59	56	50	47	51
Other Noncurrent Operating Assets	22	20	20	37	36	34	33	32	42	40	42
Total Liabilities & Shareholders' Equity	582	599	616	654	631	630	645	652	662	647	682
Total Liabilities	332	362	377	423	398	378	387	402	395	375	573
Total Current Liabilities	125	133	147	174	158	151	141	150	158	138	151
Accounts Payable	46	53	63	80	70	61	56	57	45	46	52
Current Deferred Revenue	27	29	27	27	26	20	18	19	30	27	27
Other Current Liabilities	52	51	49	58	54	61	66	73	82	65	73
Total Noncurrent Liabilities	207	228	231	249	240	227	246	252	238	237	422
Long-Term Debt	136	159	166	169	160	153	173	178	160	159	334
Other Noncurrent Operating Liabilities	71	69	65	80	80	74	73	74	78	78	88
Total Equity & Noncontrolling Interests	251	237	239	230	232	252	258	249	267	272	109
Total Preferred & Common Equity	251	237	239	230	232	252	258	249	267	272	109
Total Common Equity	251	237	239	230	232	252	258	249	267	272	109
Common Stock	0.35	0.35	0.36	0.36	0.37	0.38	0.38	0.38	0.38	0.38	0.38
Accumulated Other Comprehensive Income / (Loss)	-15	-17	-9.12	-8.44	-9.09	-9.90	-9.79	-8.46	-3.35	-1.40	-2.02
Other Equity Adjustments	266	253	248	238	241	261	267	257	270	273	111

This table displays calculated financial ratios and metrics derived from Astronics' 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
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	35,629,121.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	35,629,121.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.82
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.73%	-8.55%	-1.37%	28.63%	-3.80%	-34.96%	-11.48%	20.23%	28.85%	15.41%	8.39%
EBITDA Growth	8.28%	-20.29%	-41.96%	68.96%	10.79%	-168.67%	111.99%	-16.31%	253.01%	98.67%	96.43%
EBIT Growth	13.09%	-25.97%	-58.49%	104.19%	20.09%	-241.94%	80.93%	-1.07%	85.36%	913.91%	217.76%
NOPAT Growth	13.42%	-25.07%	-52.05%	125.46%	-97.73%	-5,541.54%	71.53%	-4.78%	77.80%	496.73%	279.06%
Net Income Growth	19.23%	-27.70%	-59.36%	137.83%	11.14%	-322.58%	77.91%	-39.76%	26.09%	38.63%	281.06%
EPS Growth	19.23%	-36.94%	-58.57%	143.10%	13.48%	-335.00%	78.19%	-35.37%	27.93%	42.50%	276.09%
Operating Cash Flow Growth	-21.40%	-37.77%	-22.66%	45.25%	-22.22%	-12.54%	-114.81%	-411.97%	15.41%	227.62%	144.70%
Free Cash Flow Firm Growth	182.62%	310.48%	-348.85%	161.81%	-24.69%	65.99%	-109.92%	-206.41%	1.69%	188.84%	8.55%
Invested Capital Growth	15.76%	3.59%	24.83%	0.15%	-7.01%	-25.88%	-3.25%	0.08%	4.18%	-0.02%	12.31%
Revenue Q/Q Growth	-1.25%	-0.51%	2.84%	4.10%	-0.58%	-14.26%	0.28%	8.54%	5.70%	1.69%	3.80%
EBITDA Q/Q Growth	-6.84%	-0.72%	-30.09%	37.69%	-35.48%	31.99%	291.38%	-41.17%	77.66%	-0.81%	38.38%
EBIT Q/Q Growth	-8.78%	-0.77%	-46.30%	72.59%	-44.50%	25.32%	26.57%	-32.52%	78.79%	1.77%	56.13%
NOPAT Q/Q Growth	-5.85%	-5.48%	-37.79%	41.80%	-97.07%	23.76%	-12.89%	15.66%	62.14%	4.31%	112.64%
Net Income Q/Q Growth	-6.34%	-7.67%	-44.12%	63.28%	-47.23%	10.84%	45.77%	-30.64%	34.24%	-153.08%	1,050.74%
EPS Q/Q Growth	-6.34%	-22.65%	-53.97%	58.43%	-49.84%	8.29%	46.41%	-32.14%	34.96%	-170.59%	1,112.50%
Operating Cash Flow Q/Q Growth	5.37%	-19.22%	-17.89%	78.02%	-38.81%	-15.07%	56.38%	-8.18%	-109.23%	1,134.99%	1.64%
Free Cash Flow Firm Q/Q Growth	145.20%	-20.26%	-524.18%	166.28%	-52.17%	18.13%	-181.00%	-28.12%	-66.84%	280.83%	103.63%
Invested Capital Q/Q Growth	-3.96%	-2.59%	16.92%	-6.34%	-6.28%	-5.89%	-2.98%	-0.86%	3.22%	-3.67%	7.79%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.15%	25.19%	21.96%	22.50%	20.21%	19.27%	14.69%	13.37%	17.53%	21.16%	29.94%
EBITDA Margin	17.93%	15.63%	9.20%	12.08%	13.91%	-14.69%	1.99%	1.38%	3.79%	6.53%	11.83%
Operating Margin	14.27%	11.83%	5.14%	7.93%	0.22%	-20.04%	-6.44%	-5.62%	-0.97%	3.33%	8.86%
EBIT Margin	14.27%	11.55%	4.86%	7.72%	9.63%	-21.03%	-4.53%	-3.81%	-0.43%	3.05%	8.95%
Profit (Net Income) Margin	9.67%	7.65%	3.15%	5.83%	6.73%	-23.04%	-5.75%	-6.68%	-3.83%	-2.04%	3.41%
Tax Burden Percent	71.21%	70.40%	78.74%	89.52%	76.16%	103.00%	94.87%	119.98%	100.42%	206.11%	91.90%
Interest Burden Percent	95.19%	94.05%	82.32%	84.34%	91.75%	106.38%	133.76%	146.25%	882.03%	-32.40%	41.41%
Effective Tax Rate	28.79%	29.60%	21.26%	10.48%	23.84%	0.00%	0.00%	0.00%	0.00%	0.00%	8.10%
Return on Invested Capital (ROIC)	16.72%	11.47%	4.81%	9.76%	0.23%	-14.89%	-5.06%	-5.39%	-1.17%	4.56%	16.28%
ROIC Less NNEP Spread (ROIC-NNEP)	14.56%	8.42%	1.89%	5.25%	28.98%	-46.41%	-9.21%	-15.78%	-15.34%	-18.06%	-1.24%
Return on Net Nonoperating Assets (RNNOA)	8.61%	3.71%	1.09%	3.31%	13.19%	-20.23%	-4.64%	-9.01%	-9.62%	-10.97%	-1.46%
Return on Equity (ROE)	25.34%	15.18%	5.90%	13.06%	13.42%	-35.13%	-9.71%	-14.40%	-10.80%	-6.41%	14.82%
Cash Return on Invested Capital (CROIC)	2.11%	7.94%	-17.28%	9.61%	7.50%	14.83%	-1.76%	-5.47%	-5.26%	4.58%	4.69%
Operating Return on Assets (OROA)	16.86%	12.05%	4.53%	8.21%	9.56%	-15.07%	-3.28%	-3.33%	-0.48%	3.79%	11.38%
Return on Assets (ROA)	11.43%	7.98%	2.94%	6.20%	6.68%	-16.51%	-4.16%	-5.84%	-4.23%	-2.53%	4.33%
Return on Common Equity (ROCE)	25.31%	15.17%	5.89%	13.05%	13.41%	-35.11%	-9.70%	-14.40%	-10.80%	-6.41%	14.82%
Return on Equity Simple (ROE_SIMPLE)	22.29%	14.35%	5.96%	12.11%	13.38%	-42.82%	-9.97%	-14.90%	-10.59%	-6.33%	0.00%
Net Operating Profit after Tax (NOPAT)	70	53	25	57	1.30	-70	-20	-21	-4.67	19	70
NOPAT Margin	10.16%	8.33%	4.05%	7.10%	0.17%	-14.03%	-4.51%	-3.93%	-0.68%	2.33%	8.15%
Net Nonoperating Expense Percent (NNEP)	2.16%	3.05%	2.92%	4.51%	-28.76%	31.52%	4.14%	10.38%	14.16%	22.62%	17.52%
Return On Investment Capital (ROIC_SIMPLE)	14.96%	10.86%	4.20%	9.18%	0.22%	-15.90%	-4.78%	-5.21%	-1.12%	4.36%	14.80%
Cost of Revenue to Revenue	72.85%	74.81%	78.04%	77.50%	79.79%	80.73%	85.31%	86.63%	82.47%	78.84%	70.06%
SG&A Expenses to Revenue	12.88%	13.36%	14.22%	14.57%	18.55%	21.99%	22.26%	18.99%	18.49%	17.84%	16.04%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.04%
Operating Expenses to Revenue	12.88%	13.36%	16.82%	14.57%	19.99%	39.31%	21.14%	18.99%	18.49%	17.84%	21.08%
Earnings before Interest and Taxes (EBIT)	99	73	30	62	74	-106	-20	-20	-2.98	24	77
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	124	99	57	97	107	-74	8.85	7.41	26	52	102
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.46	2.91	3.52	2.55	2.22	1.51	1.47	1.38	2.37	2.20	13.80
Price to Tangible Book Value (P/TBV)	13.57	7.94	23.02	7.69	7.40	4.00	3.63	3.23	4.70	3.87	88.66
Price to Revenue (P/Rev)	1.50	1.55	1.86	1.23	1.12	0.81	0.85	0.62	0.86	0.71	2.24
Price to Earnings (P/E)	15.52	20.29	59.01	21.02	16.59	0.00	0.00	0.00	0.00	0.00	65.82
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.44%	4.93%	1.69%	4.76%	6.03%	0.00%	0.00%	0.00%	0.00%	0.00%	1.52%
Enterprise Value to Invested Capital (EV/IC)	2.64	2.38	2.42	2.05	1.87	1.34	1.31	1.23	1.84	1.75	4.93
Enterprise Value to Revenue (EV/Rev)	1.72	1.76	2.27	1.50	1.32	1.07	1.15	0.90	1.09	0.90	2.61
Enterprise Value to EBITDA (EV/EBITDA)	9.59	11.25	24.64	12.38	9.48	0.00	57.72	65.03	28.62	13.73	22.04
Enterprise Value to EBIT (EV/EBIT)	12.05	15.22	46.61	19.38	13.69	0.00	0.00	0.00	0.00	29.37	29.15
Enterprise Value to NOPAT (EV/NOPAT)	16.92	21.11	55.98	21.08	786.79	0.00	0.00	0.00	0.00	38.49	32.02
Enterprise Value to Operating Cash Flow (EV/OCF)	15.17	22.78	37.45	21.89	23.88	14.47	0.00	0.00	0.00	23.33	30.07
Enterprise Value to Free Cash Flow (EV/FCFF)	133.90	30.49	0.00	21.40	24.10	7.69	0.00	0.00	0.00	38.28	111.22
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.57	0.44	0.82	0.61	0.48	0.64	0.64	0.68	0.67	0.66	2.39
Long-Term Debt to Equity	0.56	0.43	0.82	0.60	0.48	0.64	0.64	0.66	0.64	0.66	2.39
Financial Leverage	0.59	0.44	0.58	0.63	0.45	0.44	0.50	0.57	0.63	0.61	1.18
Leverage Ratio	2.22	1.90	2.01	2.11	2.01	2.13	2.33	2.47	2.55	2.54	3.42
Compound Leverage Factor	2.11	1.79	1.65	1.78	1.84	2.26	3.12	3.61	22.51	-0.82	1.42
Debt to Total Capital	36.10%	30.50%	45.17%	37.70%	32.62%	39.02%	38.85%	40.60%	40.27%	39.71%	70.48%
Short-Term Debt to Total Capital	0.55%	0.54%	0.45%	0.30%	0.04%	0.00%	0.00%	1.11%	2.15%	0.00%	0.00%
Long-Term Debt to Total Capital	35.55%	29.96%	44.72%	37.40%	32.58%	39.02%	38.85%	39.49%	38.12%	39.71%	70.48%
Preferred Equity 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%
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	63.84%	69.43%	54.78%	62.24%	67.38%	60.90%	61.15%	59.40%	59.73%	60.29%	29.52%
Debt to EBITDA	1.37	1.50	4.73	2.41	1.75	-2.34	18.42	22.14	6.43	3.25	3.28
Net Debt to EBITDA	1.22	1.32	4.42	2.24	1.45	-1.80	15.06	20.28	6.00	2.89	3.10
Long-Term Debt to EBITDA	1.35	1.47	4.69	2.39	1.75	-2.34	18.42	21.54	6.09	3.25	3.28
Debt to NOPAT	2.41	2.81	10.75	4.11	145.30	-2.45	-8.12	-7.80	-36.03	9.10	4.76
Net Debt to NOPAT	2.15	2.47	10.04	3.81	120.67	-1.88	-6.64	-7.14	-33.60	8.11	4.50
Long-Term Debt to NOPAT	2.38	2.76	10.64	4.07	145.13	-2.45	-8.12	-7.58	-34.10	9.10	4.76
Altman Z-Score	4.57	4.70	3.67	3.88	3.72	2.09	2.36	2.25	2.93	2.71	4.56
Noncontrolling Interest Sharing Ratio	0.10%	0.09%	0.10%	0.10%	0.04%	0.05%	0.07%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.40	2.95	3.06	2.92	2.84	3.38	2.87	2.41	2.72	2.73	3.10
Quick Ratio	1.09	1.47	1.46	1.55	1.49	1.42	1.16	1.07	1.23	1.29	1.58
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	8.89	37	-91	56	42	70	-6.96	-21	-21	19	20
Operating Cash Flow to CapEx	421.12%	374.73%	280.33%	336.34%	353.30%	500.54%	-91.65%	-368.89%	-313.36%	362.67%	236.15%
Free Cash Flow to Firm to Interest Expense	1.87	8.38	-16.92	5.78	6.89	10.41	-1.02	0.00	0.00	1.84	0.62
Operating Cash Flow to Interest Expense	16.52	11.22	7.04	5.65	6.95	5.54	-0.81	0.00	0.00	3.01	2.29
Operating Cash Flow Less CapEx to Interest Expense	12.60	8.23	4.53	3.97	4.98	4.43	-1.70	0.00	0.00	2.18	1.32
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.18	1.04	0.93	1.06	0.99	0.72	0.72	0.87	1.10	1.24	1.27
Accounts Receivable Turnover	7.52	6.19	5.16	5.10	4.68	4.17	4.44	4.19	4.31	4.38	4.35
Inventory Turnover	4.38	4.08	3.65	4.31	4.33	2.68	2.41	2.68	2.99	3.20	3.05
Fixed Asset Turnover	5.74	5.12	5.02	6.51	6.62	4.59	4.41	5.75	7.83	9.58	9.18
Accounts Payable Turnover	12.86	12.70	10.66	10.22	9.68	9.28	12.38	9.36	9.07	12.05	14.37
Days Sales Outstanding (DSO)	48.55	59.00	70.74	71.55	78.01	87.53	82.24	87.08	84.71	83.41	83.85
Days Inventory Outstanding (DIO)	83.42	89.41	99.91	84.68	84.20	136.22	151.29	136.10	121.94	113.95	119.84
Days Payable Outstanding (DPO)	28.38	28.75	34.23	35.72	37.70	39.32	29.48	39.01	40.24	30.29	25.39
Cash Conversion Cycle (CCC)	103.59	119.67	136.42	120.52	124.52	184.43	204.05	184.17	166.41	167.07	178.30
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	451	468	584	585	544	403	390	390	406	406	456
Invested Capital Turnover	1.65	1.38	1.19	1.38	1.37	1.06	1.12	1.37	1.73	1.96	2.00
Increase / (Decrease) in Invested Capital	61	16	116	0.85	-41	-141	-13	0.30	16	-0.10	50
Enterprise Value (EV)	1,191	1,113	1,415	1,201	1,019	540	511	482	748	713	2,249
Market Capitalization	1,039	983	1,161	984	863	407	378	331	591	563	1,933
Book Value per Share	$11.76	$11.61	$11.77	$11.95	$12.60	$8.77	$8.16	$7.46	$7.35	$7.26	$3.93
Tangible Book Value per Share	$3.00	$4.26	$1.80	$3.96	$3.78	$3.31	$3.31	$3.19	$3.71	$4.13	$0.61
Total Capital	470	486	602	621	577	443	420	404	418	425	475
Total Debt	170	148	272	234	188	173	163	164	168	169	334
Total Long-Term Debt	167	145	269	232	188	173	163	160	159	169	334
Net Debt	151	130	254	217	156	133	133	150	157	150	316
Capital Expenditures (CapEx)	19	13	13	16	12	7.46	6.03	7.68	7.64	8.43	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	130	153	197	231	191	183	191	204	244	252	278
Debt-free Net Working Capital (DFNWC)	148	171	215	248	223	223	221	218	255	270	296
Net Working Capital (NWC)	146	169	212	246	222	223	221	214	246	270	296
Net Nonoperating Expense (NNE)	3.38	4.29	5.60	10	-51	45	5.51	15	22	35	41
Net Nonoperating Obligations (NNO)	151	130	254	198	155	133	133	150	157	150	316
Total Depreciation and Amortization (D&A)	25	26	27	35	33	32	29	28	29	28	25
Debt-free, Cash-free Net Working Capital to Revenue	18.74%	24.21%	31.58%	28.80%	24.69%	36.37%	43.04%	38.21%	35.42%	31.63%	32.28%
Debt-free Net Working Capital to Revenue	21.42%	27.03%	34.45%	30.87%	28.82%	44.41%	49.73%	40.79%	37.06%	33.95%	34.39%
Net Working Capital to Revenue	21.05%	26.62%	34.02%	30.64%	28.79%	44.41%	49.73%	39.95%	35.76%	33.95%	34.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.36	$1.66	$0.69	$1.45	$1.62	($3.76)	($0.82)	($1.11)	($0.80)	($0.46)	$0.83
Adjusted Weighted Average Basic Shares Outstanding	28.58M	29.10M	28.07M	32.60M	30.72M	30.89M	31.52M	64.57M	34.52M	35.27M	35.69M
Adjusted Diluted Earnings per Share	$2.28	$1.61	$0.67	$1.41	$1.60	($3.76)	($0.82)	($1.11)	($0.80)	($0.46)	$0.81
Adjusted Weighted Average Diluted Shares Outstanding	28.58M	29.10M	28.07M	32.60M	30.72M	30.89M	31.52M	64.57M	34.52M	35.27M	35.69M
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	28.58M	29.10M	28.07M	32.60M	30.72M	30.89M	31.52M	64.57M	34.52M	35.27M	35.69M
Normalized Net Operating Profit after Tax (NOPAT)	70	53	38	57	9.74	-9.58	-24	-21	-4.67	19	70
Normalized NOPAT Margin	10.16%	8.33%	6.10%	7.10%	1.26%	-1.91%	-5.30%	-3.93%	-0.68%	2.33%	8.15%
Pre Tax Income Margin	13.59%	10.86%	4.00%	6.51%	8.84%	-22.37%	-6.06%	-5.57%	-3.82%	-0.99%	3.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	20.80	16.80	5.65	6.38	12.12	-15.68	-2.96	0.00	0.00	2.39	2.36
NOPAT to Interest Expense	14.81	12.11	4.71	5.87	0.21	-10.46	-2.95	0.00	0.00	1.83	2.15
EBIT Less CapEx to Interest Expense	16.87	13.80	3.14	4.70	10.15	-16.78	-3.85	0.00	0.00	1.56	1.39
NOPAT Less CapEx to Interest Expense	10.89	9.11	2.20	4.19	-1.76	-11.56	-3.84	0.00	0.00	1.00	1.18
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	36.38%	164.55%	0.00%	97.63%	-6.68%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Astronics' official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	7/1/2023	9/30/2023	12/31/2023	3/30/2024	6/29/2024	9/28/2024	12/31/2024	3/29/2025	6/28/2025	9/27/2025	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	35,629,121.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	35,629,121.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.83
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	35.10%	23.95%	23.48%	18.23%	13.56%	25.03%	6.78%	11.27%	3.31%	3.80%	15.12%
EBITDA Growth	661.71%	3.37%	349.05%	-12.81%	49.65%	297.05%	-2.87%	132.59%	-22.87%	92.17%	198.17%
EBIT Growth	123.23%	-0.58%	307.92%	-47.55%	252.58%	154.16%	5.64%	983.25%	-30.46%	189.38%	350.94%
NOPAT Growth	128.54%	-1.15%	1,696.34%	170.30%	448.12%	157.84%	-223.31%	954.95%	-63.26%	175.32%	174.63%
Net Income Growth	-8.98%	-14.31%	202.91%	28.02%	112.78%	30.88%	-140.60%	399.81%	-14.29%	5.45%	1,145.73%
EPS Growth	-8.82%	-10.87%	204.76%	35.71%	110.81%	33.33%	-131.82%	388.89%	0.00%	8.82%	1,271.43%
Operating Cash Flow Growth	81.50%	96.10%	-115.46%	110.62%	-217.77%	844.18%	1,678.08%	913.35%	-21.95%	308.07%	4.57%
Free Cash Flow Firm Growth	-402.62%	-498.99%	860.12%	98.44%	44.78%	-114.13%	-328.04%	3,604.49%	192.96%	165.79%	59.95%
Invested Capital Growth	7.40%	0.06%	4.18%	0.42%	5.85%	7.13%	-0.02%	-1.56%	-2.35%	0.36%	12.31%
Revenue Q/Q Growth	11.45%	-6.61%	19.87%	-5.23%	7.05%	2.82%	2.38%	-1.25%	-0.61%	3.31%	13.54%
EBITDA Q/Q Growth	-1.53%	-180.80%	292.01%	-42.93%	69.02%	6.40%	-5.36%	36.65%	-43.95%	165.08%	46.85%
EBIT Q/Q Growth	-13.94%	-834.74%	150.46%	-83.56%	478.46%	12.87%	-1.59%	68.59%	-62.86%	369.68%	53.35%
NOPAT Q/Q Growth	201.10%	-704.30%	449.17%	-96.70%	688.30%	-36.24%	-844.49%	128.19%	-72.55%	377.80%	101.82%
Net Income Q/Q Growth	-171.78%	-41.54%	141.08%	-145.56%	148.24%	-865.69%	75.87%	436.44%	-86.21%	-944.60%	366.85%
EPS Q/Q Growth	-164.29%	-37.84%	143.14%	-140.91%	144.44%	-950.00%	79.41%	471.43%	-84.62%	-875.00%	364.52%
Operating Cash Flow Q/Q Growth	89.73%	42.89%	-48.80%	221.68%	-407.31%	233.74%	215.54%	-21.86%	-136.98%	547.52%	-19.15%
Free Cash Flow Firm Q/Q Growth	23.49%	60.33%	284.17%	-102.79%	-2,613.40%	-53.84%	-96.13%	142.80%	-28.03%	8.88%	-219.39%
Invested Capital Q/Q Growth	-0.43%	-2.49%	3.22%	0.20%	4.95%	-1.31%	-3.67%	-1.33%	4.11%	1.43%	7.79%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	18.74%	12.66%	20.47%	25.67%	20.87%	20.98%	24.00%	29.55%	25.81%	30.51%	33.31%
EBITDA Margin	5.43%	-4.70%	7.53%	4.53%	7.16%	7.41%	6.85%	9.48%	5.34%	13.71%	17.74%
Operating Margin	1.37%	-8.89%	3.98%	0.90%	3.81%	4.11%	4.26%	6.38%	2.32%	10.90%	14.77%
EBIT Margin	1.16%	-9.10%	3.83%	0.66%	3.59%	3.94%	3.79%	6.47%	2.42%	10.99%	14.85%
Profit (Net Income) Margin	-6.88%	-10.42%	3.57%	-1.72%	0.77%	-5.76%	-1.36%	4.63%	0.64%	-5.25%	12.34%
Tax Burden Percent	307.51%	81.58%	454.76%	70.17%	121.76%	226.91%	-491.67%	93.65%	70.99%	90.05%	91.85%
Interest Burden Percent	-193.36%	140.41%	20.51%	-368.21%	17.70%	-64.41%	7.29%	76.36%	37.41%	-53.03%	90.48%
Effective Tax Rate	0.00%	0.00%	-354.76%	0.00%	-21.76%	0.00%	591.67%	6.35%	29.01%	0.00%	8.15%
Return on Invested Capital (ROIC)	1.53%	-10.31%	31.36%	1.11%	8.28%	5.52%	-40.96%	12.07%	3.21%	15.00%	27.12%
ROIC Less NNEP Spread (ROIC-NNEP)	-7.63%	-14.61%	12.86%	-1.58%	3.81%	-5.02%	-14.39%	10.15%	1.91%	3.82%	25.85%
Return on Net Nonoperating Assets (RNNOA)	-4.74%	-9.89%	8.07%	-1.04%	2.68%	-3.48%	-8.74%	5.67%	1.14%	5.19%	30.44%
Return on Equity (ROE)	-3.21%	-20.20%	39.42%	0.07%	10.95%	2.04%	-49.70%	17.74%	4.35%	20.19%	57.56%
Cash Return on Invested Capital (CROIC)	-10.27%	-3.19%	-5.26%	-0.87%	-5.26%	-2.53%	4.58%	-3.25%	-1.80%	-131.81%	4.69%
Operating Return on Assets (OROA)	1.16%	-9.65%	4.23%	0.77%	4.10%	4.81%	4.70%	8.17%	3.08%	13.69%	18.88%
Return on Assets (ROA)	-6.91%	-11.05%	3.94%	-1.98%	0.88%	-7.03%	-1.68%	5.85%	0.82%	-6.54%	15.69%
Return on Common Equity (ROCE)	-3.21%	-20.20%	39.42%	0.07%	10.95%	2.04%	-49.70%	17.74%	4.35%	20.19%	57.56%
Return on Equity Simple (ROE_SIMPLE)	-16.51%	-17.29%	0.00%	-10.00%	-4.52%	-2.57%	0.00%	-1.32%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	1.68	-10	35	1.17	9.19	5.86	-44	12	3.38	16	33
NOPAT Margin	0.96%	-6.22%	18.12%	0.63%	4.64%	2.88%	-20.93%	5.97%	1.65%	7.63%	13.57%
Net Nonoperating Expense Percent (NNEP)	9.16%	4.31%	18.50%	2.70%	4.47%	10.54%	-26.57%	1.92%	1.31%	11.18%	1.27%
Return On Investment Capital (ROIC_SIMPLE)	0.41%	-2.53%	8.47%	0.28%	2.13%	1.37%	-10.27%	2.88%	0.78%	3.64%	6.86%
Cost of Revenue to Revenue	81.26%	87.34%	79.53%	74.33%	79.13%	79.02%	76.00%	70.45%	74.19%	69.49%	66.69%
SG&A Expenses to Revenue	17.37%	21.54%	16.48%	17.57%	17.06%	16.87%	19.75%	17.79%	17.83%	14.78%	14.11%
R&D to Revenue	0.00%	0.00%	0.00%	7.20%	0.00%	0.00%	0.00%	5.37%	5.65%	4.83%	4.43%
Operating Expenses to Revenue	17.37%	21.54%	16.48%	24.77%	17.06%	16.87%	19.75%	23.17%	23.49%	19.61%	18.54%
Earnings before Interest and Taxes (EBIT)	2.02	-15	7.48	1.23	7.12	8.03	7.90	13	4.95	23	36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	9.48	-7.66	15	8.39	14	15	14	20	11	29	43
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.80	2.22	2.37	2.61	2.71	2.82	2.20	3.26	4.36	14.54	13.80
Price to Tangible Book Value (P/TBV)	6.44	4.89	4.70	5.00	4.95	5.18	3.87	5.47	7.10	0.00	88.66
Price to Revenue (P/Rev)	1.04	0.79	0.86	0.92	0.94	0.90	0.71	1.07	1.44	1.91	2.24
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	65.82
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.52%
Enterprise Value to Invested Capital (EV/IC)	2.03	1.72	1.84	2.00	2.03	2.07	1.75	2.50	3.19	4.48	4.93
Enterprise Value to Revenue (EV/Rev)	1.32	1.04	1.09	1.13	1.17	1.12	0.90	1.23	1.62	2.28	2.61
Enterprise Value to EBITDA (EV/EBITDA)	56.62	46.03	28.62	32.63	29.29	16.70	13.73	15.92	22.23	25.74	22.04
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	868.29	36.64	29.37	27.61	38.88	38.40	29.15
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	491.93	49.22	38.49	0.00	0.00	0.00	32.02
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	353.21	23.33	20.42	27.82	25.78	30.07
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	38.28	0.00	0.00	0.00	111.22
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.77	0.73	0.67	0.64	0.67	0.72	0.66	0.60	0.59	3.07	2.39
Long-Term Debt to Equity	0.73	0.69	0.64	0.61	0.67	0.72	0.66	0.60	0.59	3.07	2.39
Financial Leverage	0.62	0.68	0.63	0.66	0.70	0.69	0.61	0.56	0.60	1.36	1.18
Leverage Ratio	2.57	2.62	2.55	2.54	2.66	2.66	2.54	2.49	2.44	3.72	3.42
Compound Leverage Factor	-4.97	3.68	0.52	-9.35	0.47	-1.72	0.18	1.90	0.91	-1.98	3.10
Debt to Total Capital	43.54%	42.10%	40.27%	39.18%	40.28%	41.80%	39.71%	37.51%	36.97%	75.41%	70.48%
Short-Term Debt to Total Capital	2.20%	2.24%	2.15%	2.17%	0.30%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	41.35%	39.86%	38.12%	37.00%	39.98%	41.67%	39.71%	37.51%	36.97%	75.41%	70.48%
Preferred Equity 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%
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	56.46%	57.90%	59.73%	60.82%	59.72%	58.20%	60.29%	62.49%	63.03%	24.59%	29.52%
Debt to EBITDA	12.30	11.48	6.43	6.51	5.87	3.42	3.25	2.54	2.66	4.53	3.28
Net Debt to EBITDA	12.00	10.96	6.00	6.24	5.72	3.30	2.89	2.13	2.44	4.27	3.10
Long-Term Debt to EBITDA	11.68	10.87	6.09	6.15	5.83	3.41	3.25	2.54	2.66	4.53	3.28
Debt to NOPAT	-14.54	-13.70	-36.03	-87.91	98.64	10.08	9.10	-8.22	-9.03	-0.60	4.76
Net Debt to NOPAT	-14.19	-13.08	-33.60	-84.32	96.15	9.72	8.11	-6.89	-8.27	-0.57	4.50
Long-Term Debt to NOPAT	-13.81	-12.97	-34.10	-83.03	97.90	10.05	9.10	-8.22	-9.03	-0.60	4.76
Altman Z-Score	2.29	2.16	2.98	2.65	2.77	2.79	3.04	3.12	3.71	3.48	4.37
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.29	2.41	2.72	2.59	2.92	2.83	2.73	2.74	3.04	2.87	3.10
Quick Ratio	1.00	0.99	1.23	1.16	1.34	1.32	1.29	1.39	1.46	1.34	1.58
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-26	-10	19	-0.53	-14	-22	-44	19	13	15	-17
Operating Cash Flow to CapEx	-88.22%	-50.43%	-104.23%	127.47%	-348.55%	452.54%	829.68%	980.62%	-165.78%	259.80%	233.84%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	-3.18	0.00	0.00	0.00	0.45	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	1.20	0.00	0.00	0.00	1.05	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.93	0.00	0.00	0.00	0.64	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.00	1.06	1.10	1.15	1.14	1.22	1.24	1.26	1.27	1.25	1.27
Accounts Receivable Turnover	4.29	4.55	4.31	4.45	4.15	4.52	4.38	4.48	4.41	4.35	4.35
Inventory Turnover	2.74	2.79	2.99	2.89	2.97	3.05	3.20	3.19	3.26	3.19	3.05
Fixed Asset Turnover	6.95	7.35	7.83	8.33	8.71	9.31	9.58	9.95	9.93	9.34	9.18
Accounts Payable Turnover	8.32	8.96	9.07	9.27	8.90	9.86	12.05	11.91	12.61	11.81	14.37
Days Sales Outstanding (DSO)	85.03	80.27	84.71	82.03	87.90	80.84	83.41	81.44	82.85	83.96	83.85
Days Inventory Outstanding (DIO)	133.15	130.83	121.94	126.35	123.06	119.59	113.95	114.29	111.95	114.28	119.84
Days Payable Outstanding (DPO)	43.86	40.76	40.24	39.39	41.01	37.04	30.29	30.64	28.95	30.89	25.39
Cash Conversion Cycle (CCC)	174.32	170.34	166.41	168.99	169.95	163.39	167.07	165.10	165.85	167.34	178.30
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	404	394	406	407	427	422	406	401	417	423	456
Invested Capital Turnover	1.59	1.66	1.73	1.77	1.78	1.92	1.96	2.02	1.95	1.97	2.00
Increase / (Decrease) in Invested Capital	28	0.23	16	1.70	24	28	-0.10	-6.33	-10	1.53	50
Enterprise Value (EV)	818	677	748	813	867	874	713	1,004	1,330	1,897	2,249
Market Capitalization	645	516	591	657	698	702	563	870	1,184	1,583	1,933
Book Value per Share	$7.10	$7.14	$7.35	$7.29	$7.40	$7.12	$7.26	$7.56	$7.67	$3.08	$3.93
Tangible Book Value per Share	$3.08	$3.24	$3.71	$3.81	$4.04	$3.87	$4.13	$4.51	$4.71	($0.05)	$0.61
Total Capital	408	401	418	414	432	428	425	427	431	443	475
Total Debt	178	169	168	162	174	179	169	160	159	334	334
Total Long-Term Debt	169	160	159	153	173	178	169	160	159	334	334
Net Debt	173	161	157	156	170	173	150	134	146	314	316
Capital Expenditures (CapEx)	2.23	2.23	1.61	1.60	1.80	1.85	3.18	2.11	4.61	13	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	229	224	244	243	268	268	252	249	267	262	278
Debt-free Net Working Capital (DFNWC)	233	232	255	250	273	275	270	275	281	282	296
Net Working Capital (NWC)	224	223	246	241	271	274	270	275	281	282	296
Net Nonoperating Expense (NNE)	14	6.85	28	4.34	7.66	18	-41	2.77	2.06	27	2.96
Net Nonoperating Obligations (NNO)	173	161	157	156	170	173	150	134	146	314	316
Total Depreciation and Amortization (D&A)	7.46	7.17	7.22	7.16	7.07	7.06	6.38	6.19	5.99	5.75	6.94
Debt-free, Cash-free Net Working Capital to Revenue	36.85%	34.41%	35.42%	33.86%	36.17%	34.31%	31.63%	30.47%	32.49%	31.55%	32.28%
Debt-free Net Working Capital to Revenue	37.54%	35.58%	37.06%	34.78%	36.76%	35.12%	33.95%	33.65%	34.13%	33.91%	34.39%
Net Working Capital to Revenue	36.10%	34.20%	35.76%	33.52%	36.59%	35.05%	33.95%	33.65%	34.13%	33.91%	34.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.37)	($0.51)	$0.22	($0.09)	$0.04	($0.34)	($0.07)	$0.27	$0.04	($0.31)	$0.83
Adjusted Weighted Average Basic Shares Outstanding	32.54M	33.94M	34.52M	34.84M	34.99M	35.26M	35.27M	35.41M	35.41M	35.63M	35.69M
Adjusted Diluted Earnings per Share	($0.37)	($0.51)	$0.22	($0.09)	$0.04	($0.34)	($0.07)	$0.26	$0.04	($0.31)	$0.82
Adjusted Weighted Average Diluted Shares Outstanding	32.54M	33.94M	34.52M	34.84M	34.99M	35.26M	35.27M	35.41M	35.41M	35.63M	35.69M
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	32.54M	33.94M	34.52M	34.84M	34.99M	35.26M	35.27M	35.41M	35.41M	35.63M	35.69M
Normalized Net Operating Profit after Tax (NOPAT)	1.68	-10	5.45	1.17	5.29	5.86	6.21	12	3.38	16	33
Normalized NOPAT Margin	0.96%	-6.22%	2.79%	0.63%	2.67%	2.88%	2.98%	5.97%	1.65%	7.63%	13.57%
Pre Tax Income Margin	-2.24%	-12.78%	0.79%	-2.45%	0.64%	-2.54%	0.28%	4.94%	0.90%	-5.83%	13.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	1.15	0.00	0.00	0.00	0.71	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.84	0.00	0.00	0.00	0.49	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.88	0.00	0.00	0.00	0.31	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.57	0.00	0.00	0.00	0.09	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Astronics Corp (ATRO) has shown improving top-line momentum and margins in 2025 after a period of volatility, but the company continues to operate with a relatively modest cash buffer and a high debt burden. Below are the key trends from the last four years, focusing on the most relevant quarterly data for investors.

Q4 2025 Operating Revenue reached 240.1 million, up about 15% from Q4 2024 (208.5 million), suggesting improving demand or pricing tailwinds into year-end.
Gross margin improved to roughly 33% in Q4 2025 (79.97 million gross profit on 240.07 million revenue) versus about 24% a year earlier, indicating better cost discipline or product mix.
Net income attributable to common shareholders turned positive in Q4 2025 at about 29.62 million, with basic EPS of 0.83 and diluted EPS of 0.82, a meaningful improvement from several prior quarters.
Total operating income in Q4 2025 was 35.46 million, up from prior quarters in 2024 and 2023, signaling improving operating leverage.
Net cash from continuing operating activities in Q4 2025 was 27.62 million, reflecting positive cash generation from core operations.
Shares outstanding remained fairly stable, with weighted average basic/diluted shares around 35.69 million in Q4 2025 (limited near-term dilution risk).
Investing cash flows continued to be negative as a result of ongoing capital expenditures and acquisitions (for example, Q4 2025 investing cash flow around -29.27 million), indicating continued reinvestment in the business.
Debt load surged in Q3 2025, with a large debt issuance of about 310 million; long-term debt rose to approximately 334.0 million and total liabilities climbed to about 573.3 million, increasing leverage and interest exposure.
Total equity remained modest relative to liabilities (about 108.9 million in Q3 2025) as liabilities far exceed shareholders’ equity, highlighting a thin equity cushion.
Cash balances are relatively modest (cash and equivalents around 13.5 million in mid-2025), implying liquidity risk given the debt level and working-capital needs.

05/05/26 11:36 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Astronics' Financials

When does Astronics' fiscal year end?

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

How has Astronics' net income changed over the last 10 years?

Astronics' net income appears to be on a downward trend, with a most recent value of $29.36 million in 2025, falling from $66.97 million in 2015. The previous period was -$16.22 million in 2024.

What is Astronics' operating income?

Astronics' total operating income in 2025 was $76.41 million, based on the following breakdown:

Total Gross Profit: $258.16 million
Total Operating Expenses: $181.75 million

How has Astronics' revenue changed over the last 10 years?

Over the last 10 years, Astronics' total revenue changed from $692.28 million in 2015 to $862.13 million in 2025, a change of 24.5%.

How much debt does Astronics have?

Astronics' total liabilities were at $566.60 million at the end of 2025, a 44.3% increase from 2024, and a 83.4% increase since 2015.

How much cash does Astronics have?

In the past 10 years, Astronics' cash and equivalents has ranged from $4.76 million in 2023 to $40.41 million in 2020, and is currently $18.18 million as of their latest financial filing in 2025.

How has Astronics' book value per share changed over the last 10 years?

Over the last 10 years, Astronics' book value per share changed from 11.76 in 2015 to 3.93 in 2025, a change of -66.6%.

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Financial statements for OTCMKTS:ATROB last updated on 3/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Astronics (ATROB) Financials

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Astronics (ATROB) Financials

Annual Income Statements for Astronics

Quarterly Income Statements for Astronics

Annual Cash Flow Statements for Astronics

Quarterly Cash Flow Statements for Astronics

Annual Balance Sheets for Astronics

Quarterly Balance Sheets for Astronics

Annual Metrics And Ratios for Astronics

Quarterly Metrics And Ratios for Astronics

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Astronics' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools