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Astronics Corporation (ATRO) 10-Year Financial Performance & Capital Metrics

ATRO • • Industrial / General
IndustrialsAerospace & DefenseAerospace Components & SubsystemsAvionics & Flight Systems
AboutAstronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products. This segment serves airframe manufacturers (OEM) that build aircraft for the commercial, military, and general aviation markets; suppliers to OEMs; and aircraft operators, such as airlines; suppliers to the aircraft operators; and branches of the U.S. Department of Defense. The Test Systems segment designs, develops, manufactures, and maintains automated test systems that support the aerospace and defense, and communications and mass transit industries; and provides wireless communication testing for the civil land mobile radio market, as well as training and simulation devices for commercial and military applications. It serves OEMs and prime government contractors for electronics and military products. The company was incorporated in 1968 and is headquartered in East Aurora, New York.Show more
  • Revenue $795M +15.4%
  • EBITDA $51M +162.1%
  • Net Income -$16M +38.6%
  • EPS (Diluted) -0.46 +42.5%
  • Gross Margin 21.16% +20.8%
  • EBITDA Margin 6.4% +127.1%
  • Operating Margin 3.33% +443.8%
  • Net Margin -2.04% +46.8%
  • ROE -6.41% +40.6%
  • ROIC 4.53% +480.4%
  • Debt/Equity 0.76 -4.5%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓Momentum leader: RS Rating 94 (top 6%)
  • ✓Trading near 52-week high
  • ✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.87%
5Y0.58%
3Y21.37%
TTM6.19%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM51.8%

EPS CAGR

10Y-
5Y-
3Y-
TTM52.63%

ROCE

10Y Avg2.54%
5Y Avg-4.99%
3Y Avg-0.79%
Latest5.3%

Peer Comparison

Avionics & Flight Systems
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ISSCInnovative Solutions and Support, Inc.386.11M21.7524.7278.6%15.11%20.6%1.76%0.37
RALRalliant Corp.6.08B53.9120.12-0.05%14.06%10.06%6.91%0.02

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+692.28M633.12M624.46M803.26M772.7M502.59M444.91M534.89M689.21M795.43M
Revenue Growth %0.05%-0.09%-0.01%0.29%-0.04%-0.35%-0.11%0.2%0.29%0.15%
Cost of Goods Sold+504.34M473.66M487.35M622.56M616.56M405.74M379.55M463.35M568.41M627.08M
COGS % of Revenue0.73%0.75%0.78%0.78%0.8%0.81%0.85%0.87%0.82%0.79%
Gross Profit+187.94M159.47M137.11M180.7M156.14M96.84M65.36M71.54M120.8M168.34M
Gross Margin %0.27%0.25%0.22%0.22%0.2%0.19%0.15%0.13%0.18%0.21%
Gross Profit Growth %0.13%-0.15%-0.14%0.32%-0.14%-0.38%-0.33%0.09%0.69%0.39%
Operating Expenses+89.14M86.33M90.52M117.03M154.44M197.54M94.04M101.58M127.47M141.88M
OpEx % of Revenue0.13%0.14%0.14%0.15%0.2%0.39%0.21%0.19%0.18%0.18%
Selling, General & Admin89.14M86.33M90.52M117.03M143.36M110.53M99.05M101.58M127.47M141.88M
SG&A % of Revenue0.13%0.14%0.14%0.15%0.19%0.22%0.22%0.19%0.18%0.18%
Research & Development90.3M90.2M95M114.3M000000
R&D % of Revenue0.13%0.14%0.15%0.14%------
Other Operating Expenses0-2.02M-2.88M-1.67M11.08M87.02M-5.01M000
Operating Income+98.8M73.14M30.36M63.66M1.7M-100.7M-28.67M-30.04M-6.67M26.47M
Operating Margin %0.14%0.12%0.05%0.08%0%-0.2%-0.06%-0.06%-0.01%0.03%
Operating Income Growth %0.13%-0.26%-0.58%1.1%-0.97%-60.2%0.72%-0.05%0.78%4.97%
EBITDA+124.11M98.93M56.76M98.69M34.75M-68.85M331K-2.27M19.43M50.93M
EBITDA Margin %0.18%0.16%0.09%0.12%0.04%-0.14%0%-0%0.03%0.06%
EBITDA Growth %0.08%-0.2%-0.43%0.74%-0.65%-2.98%1%-7.85%9.57%1.62%
D&A (Non-Cash Add-back)25.31M25.79M26.4M35.03M33.05M31.85M29M27.78M26.1M24.47M
EBIT97.05M74.88M30.36M63.66M12.78M-13.69M-33.69M-30.04M-6.67M26.47M
Net Interest Income+-4.75M-4.35M-5.37M-9.71M-6.14M-6.74M0000
Interest Income0000000000
Interest Expense4.75M4.35M5.37M9.71M6.14M6.74M0000
Other Income/Expense-4.75M-4.35M-7.11M-11.38M66.6M-11.71M1.71M251K-19.64M-34.33M
Pretax Income+94.05M68.78M24.99M52.28M68.3M-112.41M-26.96M-29.79M-26.31M-7.87M
Pretax Margin %0.14%0.11%0.04%0.07%0.09%-0.22%-0.06%-0.06%-0.04%-0.01%
Income Tax+27.08M20.36M5.31M5.48M16.29M3.37M-1.38M5.95M110K8.35M
Effective Tax Rate %0.71%0.7%0.79%0.9%0.76%1.03%0.95%1.2%1%2.06%
Net Income+66.97M48.42M19.68M46.8M52.02M-115.78M-25.58M-35.75M-26.42M-16.21M
Net Margin %0.1%0.08%0.03%0.06%0.07%-0.23%-0.06%-0.07%-0.04%-0.02%
Net Income Growth %0.19%-0.28%-0.59%1.38%0.11%-3.23%0.78%-0.4%0.26%0.39%
Net Income (Continuing)66.97M48.42M19.68M46.8M52.02M-115.78M-25.58M-35.75M-26.42M-16.21M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+1.931.400.581.411.60-3.76-0.82-1.11-0.80-0.46
EPS Growth %0.18%-0.27%-0.59%1.43%0.13%-3.35%0.78%-0.35%0.28%0.42%
EPS (Basic)1.991.440.601.451.62-3.76-0.82-1.11-0.80-0.46
Diluted Shares Outstanding34.71M34.54M33.72M33.14M32.46M30.8M31.19M32.2M33.1M35.25M
Basic Shares Outstanding33.63M33.54M32.87M32.35M32.11M30.79M31.19M32.2M33.03M35.25M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+249.97M255.07M315.33M374.17M343.08M316.95M339.86M365.29M389.78M426.17M
Cash & Short-Term Investments18.56M17.9M17.91M16.62M31.91M40.41M29.76M13.78M11.31M9.29M
Cash Only18.56M17.9M17.91M16.62M31.91M40.41M29.76M13.78M11.31M9.29M
Short-Term Investments0000000000
Accounts Receivable95.28M109.42M132.63M182.31M148M93.06M107.44M147.79M172.11M191.45M
Days Sales Outstanding50.2363.0877.5282.8469.9167.5888.14100.8591.1587.85
Inventory115.47M116.6M150.2M138.69M145.79M157.06M157.58M187.98M191.8M199.74M
Days Inventory Outstanding83.5789.85112.4981.3186.31141.29151.54148.08123.16116.26
Other Current Assets20.66M11.16M019.36M17.39M26.42M015.74M14.56M25.7M
Total Non-Current Assets+359.28M349.27M420.63M400.47M439.63M302.8M269.28M249.74M259.21M222.59M
Property, Plant & Equipment124.74M122.81M125.83M120.86M138.6M129.12M111.41M103.69M113.34M104.3M
Fixed Asset Turnover5.55x5.16x4.96x6.65x5.58x3.89x3.99x5.16x6.08x7.63x
Goodwill115.37M115.21M125.64M124.95M144.97M58.28M58.28M58.17M58.21M58.06M
Intangible Assets108.28M98.1M153.49M133.38M127.29M109.89M94.32M79.28M65.42M52.48M
Long-Term Investments-14.97M-11.3M-5.12M-3.2M000000
Other Non-Current Assets10.89M13.15M15.66M21.27M28.77M5.51M5.27M8.6M7.04M7.76M
Total Assets+609.24M604.34M735.96M774.64M782.72M619.75M609.14M615.03M649M648.76M
Asset Turnover1.14x1.05x0.85x1.04x0.99x0.81x0.73x0.87x1.06x1.23x
Asset Growth %0.08%-0.01%0.22%0.05%0.01%-0.21%-0.02%0.01%0.06%-0%
Total Current Liabilities+104.23M86.56M102.89M128.09M120.64M93.74M118.61M151.61M143.33M156.15M
Accounts Payable27.14M25.07M41.85M50.66M35.84M26.45M34.86M64.19M61.13M42.96M
Days Payables Outstanding19.6419.3231.3429.721.2223.7933.5250.5739.2625.01
Short-Term Debt2.58M2.64M2.69M1.87M6.64M7.08M08.97M14.16M0
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities00014.76M23.23M18.34M023.88M20.93M0
Current Ratio2.40x2.95x3.06x2.92x2.84x3.38x2.87x2.41x2.72x2.73x
Quick Ratio1.29x1.60x1.60x1.84x1.64x1.71x1.54x1.17x1.38x1.45x
Cash Conversion Cycle114.16133.61158.67134.45135185.08206.16198.36175.05179.11
Total Non-Current Liabilities+204.79M180.34M303.14M259.92M273.22M255.64M233.92M223.5M256.14M236.51M
Long-Term Debt167.21M145.48M269.08M232.11M188M173M163M159.5M159.24M168.67M
Capital Lease Obligations0004.77M23.84M17.37M12.02M9.94M24.48M20.51M
Deferred Tax Liabilities14.97M11.3M5.12M3.2M3.92M2.91M1.42M1.87M16.51M1.43M
Other Non-Current Liabilities22.61M23.55M28.94M19.84M57.46M62.36M57.48M52.19M55.92M45.9M
Total Liabilities309.02M266.89M406.03M388.01M393.86M349.37M352.53M375.11M399.48M392.67M
Total Debt+169.79M148.12M271.77M233.98M218.48M197.45M181.8M178.41M197.88M193.87M
Net Debt151.23M130.22M253.85M217.36M186.57M157.04M152.04M164.63M186.57M184.59M
Debt / Equity0.57x0.44x0.82x0.61x0.56x0.73x0.71x0.74x0.79x0.76x
Debt / EBITDA1.37x1.50x4.79x2.37x6.29x-549.23x-10.18x3.81x
Net Debt / EBITDA1.22x1.32x4.47x2.20x5.37x-459.33x-9.60x3.62x
Interest Coverage20.80x16.80x5.65x6.56x0.28x-14.94x----
Total Equity+300.23M337.45M329.93M386.63M388.86M270.37M256.6M239.92M249.52M256.1M
Equity Growth %0.32%0.12%-0.02%0.17%0.01%-0.3%-0.05%-0.07%0.04%0.03%
Book Value per Share8.659.779.7811.6711.988.788.237.457.547.27
Total Shareholders' Equity300.23M337.45M329.93M386.63M388.86M270.37M256.6M239.92M249.52M256.1M
Common Stock256K297K297K343K345K347K353K354K373K380K
Retained Earnings257.17M305.51M325.19M376.57M428.58M312.8M287.23M240.36M209.75M192.21M
Treasury Stock0-17.62M-50M-50M-100.78M-108.52M-108.52M-89.9M-80.73M-76.78M
Accumulated OCI-15.06M-15.49M-13.35M-13.33M-15.63M-16.45M-14.49M-9.53M-9.43M-3.86M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+78.5M48.85M37.78M54.88M42.69M37.34M-5.53M-28.31M-23.95M30.57M
Operating CF Margin %0.11%0.08%0.06%0.07%0.06%0.07%-0.01%-0.05%-0.03%0.04%
Operating CF Growth %-0.21%-0.38%-0.23%0.45%-0.22%-0.13%-1.15%-4.12%0.15%2.28%
Net Income66.97M48.42M19.68M46.8M52.02M-115.78M-25.58M-35.75M-26.42M-16.21M
Depreciation & Amortization25.31M25.79M27.06M35.03M33.05M31.85M29M27.78M26.1M24.47M
Stock-Based Compensation2.27M2.28M2.6M3.1M3.84M5.18M6.46M6.5M11.45M12.02M
Deferred Taxes-252K-4.76M-5.49M-2.68M5.23M21.43M-441K19K146K-20K
Other Non-Cash Items1.14M2.57M18.27M2.6M-33.41M104.42M7.93M6.26M20.58M42.58M
Working Capital Changes-16.95M-25.45M-24.34M-29.98M-18.04M-9.77M-22.91M-33.12M-55.8M-32.26M
Change in Receivables-729K-14.62M-9.84M-47.29M34.08M53.93M-14.83M-41.65M-31.87M-21.98M
Change in Inventory-2.54M-2.67M-18.12M-14.7M-12.71M-13.61M-5.15M-34.06M-13.28M-21.55M
Change in Payables-2.17M-2M10.44M9.17M-16.62M-9.93M8.61M27.84M-4.5M-17.69M
Cash from Investing+-73.59M-14.62M-129.56M-19.67M64.63M-5.8M3.18M14.39M-4.11M-8.43M
Capital Expenditures-18.64M-13.04M-13.48M-16.32M-12.08M-7.46M-6.03M-7.67M-7.64M-8.43M
CapEx % of Revenue0.03%0.02%0.02%0.02%0.02%0.01%0.01%0.01%0.01%0.01%
Acquisitions----------
Investments----------
Other Investing-2.67M-1.58M-2.04M-3.35M743K1.66M0000
Cash from Financing+-6.72M-34.81M91.42M-36.13M-92.18M-24.58M-7.5M-1.41M25.43M-14.53M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing5.97M4.65M441K1.69M-545K306K3.4M-2.41M-4.29M-17.03M
Net Change in Cash----------
Free Cash Flow+59.86M35.82M24.3M38.56M30.61M29.88M-11.56M-35.99M-31.59M22.14M
FCF Margin %0.09%0.06%0.04%0.05%0.04%0.06%-0.03%-0.07%-0.05%0.03%
FCF Growth %0.01%-0.4%-0.32%0.59%-0.21%-0.02%-1.39%-2.11%0.12%1.7%
FCF per Share1.721.040.721.160.940.97-0.37-1.12-0.950.63
FCF Conversion (FCF/Net Income)1.17x1.01x1.92x1.17x0.82x-0.32x0.22x0.79x0.91x-1.89x
Interest Paid4.73M4.54M4.78M9.71M5.71M05.95M7.61M17.69M19.24M
Taxes Paid32.99M15.9M10.78M12.22M27.34M0001.96M3.54M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)25.35%15.19%5.9%13.06%13.42%-35.13%-9.71%-14.4%-10.8%-6.41%
Return on Invested Capital (ROIC)17.61%11.94%4.33%8.04%0.22%-15.06%-5.14%-5.54%-1.19%4.53%
Gross Margin27.15%25.19%21.96%22.5%20.21%19.27%14.69%13.37%17.53%21.16%
Net Margin9.67%7.65%3.15%5.83%6.73%-23.04%-5.75%-6.68%-3.83%-2.04%
Debt / Equity0.57x0.44x0.82x0.61x0.56x0.73x0.71x0.74x0.79x0.76x
Interest Coverage20.80x16.80x5.65x6.56x0.28x-14.94x----
FCF Conversion1.17x1.01x1.92x1.17x0.82x-0.32x0.22x0.79x0.91x-1.89x
Revenue Growth4.73%-8.55%-1.37%28.63%-3.8%-34.96%-11.48%20.23%28.85%15.41%

Revenue by Segment

2015201620172018201920202021202220232024
Aerospace549.74M1.07B1.07B----461.2M604.83M706.68M
Aerospace Growth-94.36%0.08%-----31.14%16.84%
Test Systems-198.16M179.72M----73.7M84.38M88.74M
Test Systems Growth---9.31%-----14.49%5.17%
Product Line, Electrical Power And Motion---303.18M338.24M179.25M141.75M---
Product Line, Electrical Power And Motion Growth----11.56%-47.01%-20.92%---
Product Line, Lighting And Safety---174.38M185.46M118.93M103.75M---
Product Line, Lighting And Safety Growth----6.35%-35.87%-12.76%---
Product Line, Avionics---131.85M106.79M76.11M64.9M---
Product Line, Avionics Growth-----19.01%-28.72%-14.73%---
Product Line, Other---28.13M24.61M26.97M36.26M---
Product Line, Other Growth-----12.52%9.62%34.45%---
Product Line, Systems Certification---13.95M14.4M6.9M13.05M---
Product Line, Systems Certification Growth----3.23%-52.09%89.16%---
Product Line, Structures---24.13M23.12M9.83M5.53M---
Product Line, Structures Growth-----4.21%-57.47%-43.77%---

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES-504.27M482.22M575.83M583.59M377.22M350.43M419.43M518.1M593.94M
UNITED STATES Growth---4.37%19.41%1.35%-35.36%-7.10%19.69%23.52%14.64%
Europe57.94M61.2M73.68M98.19M130.23M85.31M62.14M78.63M123.68M139.38M
Europe Growth-5.63%20.39%33.27%32.62%-34.49%-27.16%26.53%57.31%12.70%
Asia108.97M52.17M58.73M112.14M40.76M27.58M21.09M21.24M26.16M44.18M
Asia Growth--52.12%12.58%90.93%-63.65%-32.34%-23.53%0.73%23.18%68.84%
North America, Excluding United States-12.33M6.2M10.83M12.59M7.66M6.99M9.22M14.88M13.11M
North America, Excluding United States Growth---49.74%74.80%16.16%-39.17%-8.70%31.93%61.33%-11.90%
Other Continent2.5M2.57M2.36M4.29M4.67M3.04M3.18M2.75M4.31M3.37M
Other Continent Growth-3.13%-8.39%81.98%8.95%-34.97%4.64%-13.71%57.16%-21.86%
South America1.11M577K1.28M1.97M862K1.79M1.08M3.63M2.07M1.45M
South America Growth--48.11%121.84%54.14%-56.31%107.42%-39.49%235.40%-42.93%-30.23%
Non-US50.8M50.1M53.9M70.6M85.9M52.3M36.6M50M69.3M-
Non-US Growth--1.38%7.58%30.98%21.67%-39.12%-30.02%36.61%38.60%-
North America521.77M---------
North America Growth----------

Frequently Asked Questions

Growth & Financials

Astronics Corporation (ATRO) reported $830.6M in revenue for fiscal year 2024. This represents a 264% increase from $228.2M in 2011.

Astronics Corporation (ATRO) grew revenue by 15.4% over the past year. This is strong growth.

Astronics Corporation (ATRO) reported a net loss of $3.1M for fiscal year 2024.

Dividend & Returns

Astronics Corporation (ATRO) has a return on equity (ROE) of -6.4%. Negative ROE indicates the company is unprofitable.

Astronics Corporation (ATRO) generated $51.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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