Revenue growth has accelerated to 12.5% as of 2026Q2, though operating margins remain structurally constrained at 11.8% due to elevated overhead costs.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Sep'07 | Sep'06 | Sep'05 | Sep'04 | Sep'03 | Sep'02 | Sep'01 | Sep'00 | Sep'99 | Sep'98 | Sep'97 | Sep'96 |
|---|
| Sales/Revenue | 4.17B | 3.86B | 3.61B | 3.32B | 3.04B | 2.85B | 2.88B | 2.9B | 2.71B | 2.5B | 2.41B | 2.53B | 2.65B | 2.61B | 2.47B | 2.33B | 2.11B | 1.85B | 1.9B | 1.56B | 1.31B | 1.05B | 938.85M | 755.49M | 718.96M | 704.38M | 644.01M | 630M | 536.6M | 455.9M | 407.2M |
| Revenue Growth % | 13.72% | 6.97% | 8.72% | 9.31% | 6.48% | -1.13% | -0.69% | 7.2% | 8.49% | 3.55% | -4.5% | -4.64% | 1.46% | 5.7% | 5.96% | 10.24% | 14.35% | -2.82% | 22.11% | 19.26% | 24.27% | 11.98% | 24.27% | 5.08% | 2.07% | 9.37% | 2.22% | 17.41% | 17.7% | 11.96% | 8.79% |
| Cost of Goods Sold | 3.03B | 2.8B | 2.61B | 2.51B | 2.29B | 2.15B | 2.14B | 2.09B | 1.94B | 1.77B | 1.7B | 1.79B | 1.85B | 1.83B | 1.72B | 1.65B | 1.5B | 1.31B | 1.29B | 1.03B | 880.74M | 723.05M | 652.45M | 520.3M | 488.38M | 493.24M | 418.26M | 402.8M | 351.3M | 294.1M | 262.1M |
| COGS % of Revenue | - | 72.61% | 72.38% | 75.57% | 75.45% | 75.55% | 74.22% | 71.91% | 71.47% | 70.71% | 70.5% | 70.83% | 69.88% | 69.97% | 69.82% | 70.85% | 71.02% | 70.94% | 67.98% | 66.03% | 67.41% | 68.77% | 69.49% | 68.87% | 67.93% | 70.02% | 64.95% | 63.94% | 65.47% | 64.51% | 64.37% |
| Gross Profit | 1.14B | 1.06B | 996.92M | 810.96M | 745.51M | 697.39M | 743.7M | 815.83M | 772.99M | 731.52M | 711.58M | 736.7M | 797.58M | 783.75M | 745.3M | 679.48M | 612.61M | 537.3M | 609.21M | 529.25M | 425.75M | 328.29M | 286.4M | 235.19M | 230.59M | 211.14M | 225.75M | 227.2M | 185.3M | 161.8M | 145.1M |
| Gross Margin % | 27.27% | 27.39% | 27.62% | 24.43% | 24.55% | 24.45% | 25.78% | 28.09% | 28.53% | 29.29% | 29.5% | 29.17% | 30.12% | 30.03% | 30.18% | 29.15% | 28.98% | 29.06% | 32.02% | 33.97% | 32.59% | 31.23% | 30.51% | 31.13% | 32.07% | 29.98% | 35.05% | 36.06% | 34.53% | 35.49% | 35.63% |
| Gross Profit Growth % | - | 6.06% | 22.93% | 8.78% | 6.9% | -6.23% | -8.84% | 5.54% | 5.67% | 2.8% | -3.41% | -7.63% | 1.76% | 5.16% | 9.69% | 10.91% | 14.02% | -11.8% | 15.11% | 24.31% | 29.69% | 14.63% | 21.78% | 2% | 9.21% | -6.47% | -0.64% | 22.61% | 14.52% | 11.51% | 12.48% |
| Operating Expenses | 673.12M | 647.64M | 607.66M | 497.69M | 482.82M | 460.88M | 508.81M | 531.11M | 523.95M | 500.79M | 487.3M | 503.77M | 542.95M | 531.29M | 501.45M | 460.35M | 416.01M | 381.19M | 404.54M | 354.78M | 282.54M | 219.45M | 191.11M | 158.86M | 150.32M | 137.14M | 154.41M | 163.9M | 135.6M | 120.5M | 112.6M |
| OpEx % of Revenue | - | 16.78% | 16.84% | 14.99% | 15.9% | 16.16% | 17.64% | 18.28% | 19.34% | 20.05% | 20.2% | 19.95% | 20.5% | 20.35% | 20.31% | 19.75% | 19.68% | 20.62% | 21.26% | 22.77% | 21.63% | 20.87% | 20.36% | 21.03% | 20.91% | 19.47% | 23.98% | 26.02% | 25.27% | 26.43% | 27.65% |
| Selling, General & Admin | 576.24M | 553.97M | 494.89M | 469.84M | 448.53M | 412.03M | 397.95M | 404.65M | 393.76M | 356.14M | 339.96M | 371.5M | 403.49M | 396.64M | 385.05M | 353.96M | 313.41M | 281.17M | 294.94M | 252.17M | 213.66M | 175.89M | 161.38M | 128.37M | 117.28M | 110.68M | 101.99M | 100M | 85.4M | 81.4M | 75.7M |
| SG&A % of Revenue | - | 14.35% | 13.71% | 14.15% | 14.77% | 14.45% | 13.8% | 13.93% | 14.53% | 14.26% | 14.09% | 14.71% | 15.24% | 15.2% | 15.59% | 15.19% | 14.82% | 15.21% | 15.5% | 16.18% | 16.35% | 16.73% | 17.19% | 16.99% | 16.31% | 15.71% | 15.84% | 15.87% | 15.92% | 17.85% | 18.59% |
| Research & Development | 96.88M | 93.67M | 112.77M | 27.86M | 34.29M | 48.86M | 110.86M | 126.45M | 130.19M | 144.65M | 147.34M | 132.27M | 139.46M | 134.65M | 116.4M | 106.39M | 102.6M | 100.02M | 109.6M | 102.6M | 68.89M | 43.56M | 29.73M | 30.5M | 33.03M | 26.46M | 21.98M | 33.3M | 27.5M | 17.8M | 17.3M |
| R&D % of Revenue | - | 2.43% | 3.12% | 0.84% | 1.13% | 1.71% | 3.84% | 4.35% | 4.8% | 5.79% | 6.11% | 5.24% | 5.27% | 5.16% | 4.71% | 4.56% | 4.85% | 5.41% | 5.76% | 6.59% | 5.27% | 4.14% | 3.17% | 4.04% | 4.59% | 3.76% | 3.41% | 5.29% | 5.12% | 3.9% | 4.25% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -173K | 0 | 3.37M | -4.68M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30.44M | 28M | 19.8M | 23.3M | 19.6M |
| Operating Income | 464.74M | 409.71M | 389.26M | 313.27M | 262.69M | 236.5M | 234.88M | 273.03M | 249.04M | 230.74M | 224.29M | 232.94M | 254.63M | 252.46M | 243.85M | 220.2M | 196.6M | 156.1M | 204.68M | 174.47M | 143.21M | 94.9M | 83.5M | 76.32M | 80.27M | 74M | 71.33M | 63.3M | 49.7M | 41.3M | 32.5M |
| Operating Margin % | 11.14% | 10.61% | 10.79% | 9.44% | 8.65% | 8.29% | 8.14% | 9.4% | 9.19% | 9.24% | 9.3% | 9.22% | 9.61% | 9.67% | 9.87% | 9.45% | 9.3% | 8.44% | 10.76% | 11.2% | 10.96% | 9.03% | 8.89% | 10.1% | 11.16% | 10.51% | 11.08% | 10.05% | 9.26% | 9.06% | 7.98% |
| Operating Income Growth % | - | 5.25% | 24.26% | 19.25% | 11.08% | 0.69% | -13.97% | 9.63% | 7.93% | 2.88% | -3.71% | -8.52% | 0.86% | 3.53% | 10.74% | 12% | 25.94% | -23.73% | 17.31% | 21.83% | 50.9% | 13.65% | 9.4% | -4.91% | 8.46% | 3.74% | 12.69% | 27.36% | 20.34% | 27.08% | 30% |
| EBITDA | 518.02M | 513.44M | 482.37M | 403.5M | 351.08M | 326.66M | 321.86M | 360M | 337.61M | 320.9M | 323.02M | 336.54M | 363.89M | 360.54M | 344.67M | 316.53M | 287.82M | 232.49M | 268.06M | 226.56M | 190.28M | 131.11M | 119.01M | 105.86M | 105.86M | 105.7M | 101.78M | 93.9M | 72.4M | 62.6M | 52.1M |
| EBITDA Margin % | 12.41% | 13.3% | 13.36% | 12.16% | 11.56% | 11.45% | 11.16% | 12.39% | 12.46% | 12.85% | 13.39% | 13.33% | 13.74% | 13.81% | 13.96% | 13.58% | 13.61% | 12.57% | 14.09% | 14.54% | 14.56% | 12.47% | 12.68% | 14.01% | 14.72% | 15.01% | 15.8% | 14.9% | 13.49% | 13.73% | 12.79% |
| EBITDA Growth % | 4.58% | 6.44% | 19.54% | 14.93% | 7.48% | 1.49% | -10.6% | 6.63% | 5.21% | -0.66% | -4.02% | -7.51% | 0.93% | 4.6% | 8.89% | 9.98% | 23.8% | -13.27% | 18.31% | 19.07% | 45.14% | 10.17% | 12.42% | -0% | 0.16% | 3.85% | 8.39% | 29.7% | 15.65% | 20.15% | 16.55% |
| D&A (Non-Cash Add-back) | 53.28M | 103.73M | 93.11M | 90.23M | 88.39M | 90.16M | 86.97M | 86.97M | 88.57M | 90.17M | 98.73M | 103.61M | 109.26M | 108.07M | 100.82M | 96.33M | 91.22M | 76.38M | 63.38M | 52.09M | 47.08M | 36.21M | 35.51M | 29.54M | 25.6M | 31.69M | 30.44M | 30.6M | 22.7M | 21.3M | 19.6M |
| EBIT | 330.83M | 384.72M | 329.93M | 279.63M | 262.69M | 237.67M | 44.31M | 267.36M | 218.42M | 216.26M | 207.47M | 212.8M | 231.44M | 191.97M | 243.15M | 219.45M | 188.18M | 149.88M | 205.77M | 174.47M | 143.21M | 108.84M | 95.3M | 76.32M | 80.27M | 74M | 71.33M | 63.3M | 49.7M | 41.3M | 32.5M |
| Net Interest Income | -52.72M | -72.08M | -62.11M | -63.58M | -36.76M | -33.89M | -38.9M | -39.27M | -36.24M | -34.55M | -34.6M | -28.97M | -12.51M | -26.96M | -34.31M | -35.67M | -38.74M | -39.32M | -37.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 35.52M | 72.08M | 62.11M | 63.58M | 36.76M | 33.89M | 38.9M | 39.27M | 36.24M | 34.55M | 34.6M | 28.97M | 12.51M | 26.96M | 34.31M | 35.67M | 38.74M | 39.32M | 37.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -86.92M | -97.06M | -121.45M | -97.22M | -59.72M | -32.73M | -229.47M | -57.77M | -71.98M | -49.02M | -51.43M | -49.1M | -35.7M | -87.46M | -35.01M | -35.34M | -43.87M | -45.54M | -36.64M | -30.72M | -23.06M | -13.93M | -11.83M | -18.07M | -27.28M | -31.99M | -32.72M | -26.6M | -19.8M | -21.7M | -16.5M |
| Pretax Income | 377.82M | 312.65M | 267.81M | 216.05M | 202.98M | 203.77M | 5.42M | 233.76M | 183.84M | 181.71M | 172.86M | 183.83M | 218.92M | 165.01M | 208.84M | 183.78M | 149.44M | 110.56M | 168.03M | 143.75M | 120.15M | 94.92M | 83.47M | 58.25M | 52.99M | 42.01M | 38.62M | 36.7M | 29.9M | 19.6M | 16M |
| Pretax Margin % | 9.05% | 8.1% | 7.42% | 6.51% | 6.68% | 7.15% | 0.19% | 8.05% | 6.78% | 7.28% | 7.17% | 7.28% | 8.27% | 6.32% | 8.46% | 7.89% | 7.07% | 5.98% | 8.83% | 9.23% | 9.2% | 9.03% | 8.89% | 7.71% | 7.37% | 5.96% | 6% | 5.83% | 5.57% | 4.3% | 3.93% |
| Income Tax | 93.01M | 77.62M | 60.59M | 45.05M | 47.8M | 46.55M | -3.79M | 54.01M | 87.21M | 41.3M | 49.23M | 51.95M | 60.73M | 44.51M | 56.38M | 47.76M | 41.34M | 25.52M | 48.97M | 42.81M | 38.8M | 30.13M | 26.18M | 15.55M | 15.39M | 14.07M | 13.21M | 12.3M | 10.6M | 6M | 4.8M |
| Effective Tax Rate % | 24.62% | 24.83% | 22.63% | 20.85% | 23.55% | 22.85% | -69.93% | 23.11% | 47.44% | 22.73% | 28.48% | 28.26% | 27.74% | 26.97% | 27% | 25.99% | 27.67% | 23.08% | 29.14% | 29.78% | 32.3% | 31.74% | 31.37% | 26.7% | 29.05% | 33.5% | 34.22% | 33.51% | 35.45% | 30.61% | 30% |
| Net Income | 284.8M | 235.03M | 207.22M | 171M | 155.18M | 157.22M | 9.21M | 174.55M | 95.24M | 141.28M | 126.75M | 131.88M | 158.2M | 120.5M | 152.46M | 136.02M | 108.09M | 85.05M | 119.07M | 100.94M | 81.35M | 64.79M | 57.29M | 42.7M | 37.6M | 27.94M | 25.4M | 24.4M | 19.3M | 13.6M | 10.7M |
| Net Margin % | 6.83% | 6.09% | 5.74% | 5.15% | 5.11% | 5.51% | 0.32% | 6.01% | 3.52% | 5.66% | 5.25% | 5.22% | 5.97% | 4.62% | 6.17% | 5.84% | 5.11% | 4.6% | 6.26% | 6.48% | 6.23% | 6.16% | 6.1% | 5.65% | 5.23% | 3.97% | 3.94% | 3.87% | 3.6% | 2.98% | 2.63% |
| Net Income Growth % | 37.08% | 13.42% | 21.18% | 10.2% | -1.3% | 1607.98% | -94.73% | 83.27% | -32.59% | 11.47% | -3.9% | -16.63% | 31.29% | -20.97% | 12.09% | 25.84% | 27.1% | -28.57% | 17.96% | 24.08% | 25.55% | 13.1% | 34.18% | 13.55% | 34.58% | 9.99% | 4.1% | 26.42% | 41.91% | 27.1% | 37.18% |
| Net Income (Continuing) | 124.11M | 235.03M | 207.22M | 171M | 155.18M | 157.22M | 9.21M | 174.55M | 95.36M | 140.41M | 123.63M | 131.88M | 158.2M | 120.5M | 152.46M | 136.02M | 108.09M | 85.05M | 119.07M | 100.94M | 81.35M | 64.79M | 57.29M | 42.7M | 37.6M | 27.94M | 25.4M | 24.4M | 19.3M | 13.6M | 11.2M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.65M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 8.88 | 7.33 | 6.40 | 5.34 | 4.83 | 4.87 | 0.28 | 5.11 | 2.64 | 3.90 | 3.47 | 3.35 | 3.52 | 2.63 | 3.33 | 2.95 | 2.36 | 1.98 | 2.75 | 2.34 | 1.97 | 1.64 | 1.46 | 1.22 | 1.11 | 0.94 | 0.56 | 0.80 | 0.67 | 0.56 | 0.12 |
| EPS Growth % | 37.62% | 14.53% | 19.85% | 10.56% | -0.82% | 1639.29% | -94.52% | 93.56% | -32.31% | 12.39% | 3.58% | -4.83% | 33.84% | -21.02% | 12.88% | 25% | 19.19% | -28% | 17.52% | 18.78% | 20.12% | 12.33% | 19.67% | 9.91% | 18.09% | 67.86% | -30% | 19.4% | 19.64% | 366.67% | -60% |
| EPS (Basic) | - | 7.42 | 6.48 | 5.37 | 4.85 | 4.90 | 0.28 | 5.16 | 2.67 | 3.94 | 3.49 | 3.39 | 3.57 | 2.66 | 3.37 | 2.99 | 2.38 | 2.00 | 2.79 | 2.38 | 2.01 | 1.68 | 1.49 | 1.22 | 1.13 | 0.95 | 0.57 | 0.81 | 0.69 | 0.56 | 0.13 |
| Diluted Shares Outstanding | 32.07M | 32.08M | 32.36M | 32.04M | 32.12M | 32.3M | 33.44M | 35.18M | 36.05M | 36.23M | 36.53M | 39.33M | 44.95M | 45.82M | 45.72M | 46.05M | 45.71M | 42.91M | 43.26M | 43.15M | 41.25M | 39.5M | 39.37M | 35.13M | 33.84M | 29.79M | 30.14M | 30.5M | 28.82M | 24.38M | 24.33M |
| Basic Shares Outstanding | 31.7M | 31.68M | 31.95M | 31.83M | 31.98M | 32.11M | 33.26M | 34.85M | 35.66M | 35.85M | 36.28M | 38.95M | 44.36M | 45.34M | 45.25M | 45.5M | 45.36M | 42.6M | 42.6M | 42.43M | 40.56M | 38.61M | 38.57M | 34.86M | 33.31M | 29.51M | 29.88M | 30.05M | 27.96M | 24.38M | 24.33M |
| Dividend Payout Ratio | - | 15.5% | 17.12% | 19.93% | 21.25% | 20.42% | 273.87% | 19.97% | 18.78% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Margin compression from inflation
As reported in recent financial statements, Moog's revenue growth has accelerated to 12.5% in 2026Q2, marking a significant improvement from the 0.5% growth observed in 2025Q2, suggesting that the company is successfully capturing increased demand across its core aerospace and defense platform integrations.
The recent acceleration in top-line performance appears to be driven by a successful ramp-up in production rates for key aerospace programs. Investors should monitor whether this growth trajectory is sustainable or if it reflects a temporary surge in contract-based deliveries that may normalize in subsequent quarters.
Based on reported figures, Moog maintains a relatively stable gross margin of approximately 27.3%, which appears to be structurally capped by the high-cost nature of specialized engineering and precision manufacturing required for its flight-critical motion control systems within the competitive aerospace and defense landscape.
While the company demonstrates consistent pricing power, the inability to significantly expand gross margins suggests that inflationary pressures on specialized materials and labor are largely offsetting operational efficiencies. This persistent margin profile indicates that Moog's value proposition is heavily tied to platform stickiness rather than aggressive cost-cutting.
According to recent SEC filings, Moog's operating income has scaled to $124.6 million in 2026Q2, yet the operating margin of 11.8% suggests that overhead costs, particularly SG&A and R&D, continue to absorb a significant portion of the incremental gross profit generated by recent revenue gains.
The lack of meaningful operating margin expansion despite double-digit revenue growth indicates that the company's cost structure remains heavily weighted toward fixed investments. This may imply that management is prioritizing long-term technical leadership and R&D investment over immediate bottom-line optimization, which warrants further investigation by shareholders.
Based on the provided income statement data, Moog's net income growth of 45.7% in 2026Q2 appears robust, though investors should remain cautious of potential distortions from percentage-of-completion accounting and Estimate at Completion adjustments that can mask underlying operational volatility in long-term defense contracts.
The variability in quarterly net margins, ranging from 4.6% to 7.8% over the last ten quarters, suggests that non-operating items or accounting catch-ups may be impacting reported EPS. A closer look at the consistency of these earnings is necessary to determine if the current profitability trend is truly reflective of core operational performance.
Quick answers to the most common questions about buying MOG-A stock.
For fiscal year 2025, Moog Inc. (MOG-A) reported total revenue of $3.86B. This represents a 848.1% increase compared to $407.2M in 1996.
Moog Inc. (MOG-A) is profitable, generating $235.0M in net income for the fiscal year ending 2025 with a net profit margin of 6.1%.
Moog Inc. (MOG-A) reported an operating income of $409.7M, resulting in an operating profit margin of 10.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Moog Inc. (MOG-A) generated $1.06B in gross profit for the year, representing a gross profit margin of 27.4%. This demonstrates the company's core pricing power and production efficiency.