SPR is no longer listed. Its last trade on record was Dec 5, 2025. The price and figures on this page are from its last trading day and final filings, and are no longer updated.
The company's profitability has collapsed, evidenced by a 2025Q3 gross margin of -39.1% and an operating income deficit of $669.4 million, reflecting severe cost overruns.
Spirit AeroSystems Holdings, Inc. (SPR) annual income statement — 20-year revenue, gross profit & net income history
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 |
|---|
| Sales/Revenue | 6.39B | 6.32B | 6.05B | 5.03B | 3.95B | 3.4B | 7.86B | 7.22B | 6.98B | 6.79B | 6.64B | 6.8B | 5.96B | 5.4B | 4.86B | 4.17B | 4.08B | 3.77B | 3.86B | 3.21B | 1.21B |
| Revenue Growth % | -1.31% | 4.44% | 20.25% | 27.23% | 16.1% | -56.7% | 8.88% | 3.42% | 2.8% | 2.24% | -2.28% | 14.06% | 10.44% | 10.97% | 16.58% | 2.22% | 8.22% | -2.31% | 20.36% | 165.63% | - |
| Cost of Goods Sold | 8.16B | 7.69B | 5.84B | 4.98B | 4.07B | 3.81B | 6.79B | 6.13B | 5.86B | 5.68B | 5.52B | 5.61B | 4.93B | 4.61B | 4.18B | 3.58B | 3.48B | 3.16B | 3.2B | 2.93B | 1.06B |
| COGS % of Revenue | - | 121.73% | 96.59% | 99.03% | 102.98% | 111.95% | 86.31% | 84.88% | 83.92% | 83.57% | 83.12% | 82.53% | 82.64% | 85.38% | 85.94% | 85.72% | 85.2% | 83.86% | 82.81% | 91.48% | 87.48% |
| Gross Profit | -1.77B | -1.37B | 206.2M | 48.6M | -117.8M | -407M | 1.08B | 1.09B | 1.12B | 1.12B | 1.12B | 1.19B | 1.03B | 789.1M | 684.1M | 596M | 604.3M | 608.6M | 663.6M | 273.4M | 151.2M |
| Gross Margin % | -27.68% | -21.73% | 3.41% | 0.97% | -2.98% | -11.95% | 13.69% | 15.12% | 16.08% | 16.43% | 16.88% | 17.47% | 17.36% | 14.62% | 14.06% | 14.28% | 14.8% | 16.14% | 17.19% | 8.52% | 12.52% |
| Gross Profit Growth % | - | -765.57% | 324.28% | 141.26% | 71.06% | -137.8% | -1.39% | -2.79% | 0.66% | -0.52% | -5.57% | 14.79% | 31.14% | 15.35% | 14.78% | -1.37% | -0.71% | -8.29% | 142.72% | 80.82% | - |
| Operating Expenses | 444.8M | 413.7M | 340.4M | 329.8M | 341.4M | 244.7M | 283.6M | 236.5M | 235.9M | 252.1M | 248.6M | 263.1M | 235.5M | 206.3M | 195.6M | 207.5M | 193.8M | 202.9M | 244.4M | 329.7M | 219M |
| OpEx % of Revenue | - | 6.55% | 5.63% | 6.56% | 8.64% | 7.19% | 3.61% | 3.27% | 3.38% | 3.71% | 3.74% | 3.87% | 3.95% | 3.82% | 4.02% | 4.97% | 4.75% | 5.38% | 6.33% | 10.28% | 18.14% |
| Selling, General & Admin | 346.2M | 365.5M | 281.9M | 279.2M | 279.9M | 205.9M | 229.1M | 194M | 204.7M | 228.3M | 220.8M | 233.8M | 200.8M | 172.2M | 159.9M | 156M | 137.1M | 154.5M | 192.1M | 225M | 140.7M |
| SG&A % of Revenue | - | 5.79% | 4.66% | 5.55% | 7.08% | 6.05% | 2.91% | 2.69% | 2.93% | 3.36% | 3.32% | 3.44% | 3.37% | 3.19% | 3.29% | 3.74% | 3.36% | 4.1% | 4.98% | 7.01% | 11.65% |
| Research & Development | 49.1M | 47.5M | 45.4M | 50.4M | 53.3M | 38.8M | 54.5M | 42.5M | 31.2M | 23.8M | 27.8M | 29.3M | 34.7M | 34.1M | 35.7M | 51.5M | 56.7M | 48.4M | 52.3M | 104.7M | 78.3M |
| R&D % of Revenue | - | 0.75% | 0.75% | 1% | 1.35% | 1.14% | 0.69% | 0.59% | 0.45% | 0.35% | 0.42% | 0.43% | 0.58% | 0.63% | 0.73% | 1.23% | 1.39% | 1.28% | 1.35% | 3.26% | 6.48% |
| Other Operating Expenses | 0 | 700K | 13.1M | 200K | 8.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -2.21B | -1.79B | -134.2M | -281.2M | -459.2M | -651.7M | 793.1M | 855.4M | 887.3M | 863.7M | 873M | 924.7M | 799.3M | 582.8M | 488.5M | 388.5M | 410.5M | 405.7M | 419.2M | -56.3M | -67.8M |
| Operating Margin % | -34.63% | -28.28% | -2.22% | -5.59% | -11.62% | -19.14% | 10.09% | 11.84% | 12.71% | 12.71% | 13.14% | 13.6% | 13.41% | 10.8% | 10.04% | 9.31% | 10.06% | 10.76% | 10.86% | -1.76% | -5.61% |
| Operating Income Growth % | - | -1230.92% | 52.28% | 38.76% | 29.54% | -182.17% | -7.28% | -3.6% | 2.73% | -1.07% | -5.59% | 15.69% | 37.15% | 19.3% | 25.74% | -5.36% | 1.18% | -3.22% | 844.58% | 16.96% | - |
| EBITDA | -1.95B | -1.48B | 181.4M | 55.9M | -131.6M | -374.1M | 1.04B | 1.09B | 1.1B | 1.07B | 1.05B | 1.1B | 960.6M | 739M | 622.6M | 508.5M | 544.3M | 537.5M | 524.2M | 8.5M | -35.9M |
| EBITDA Margin % | -30.55% | -23.44% | 3% | 1.11% | -3.33% | -10.99% | 13.29% | 15.04% | 15.78% | 15.79% | 15.87% | 16.19% | 16.11% | 13.69% | 12.8% | 12.19% | 13.33% | 14.25% | 13.58% | 0.27% | -2.97% |
| EBITDA Growth % | -186.24% | -916.26% | 224.51% | 142.48% | 64.82% | -135.81% | -3.83% | -1.38% | 2.71% | 1.75% | -4.23% | 14.58% | 29.99% | 18.7% | 22.44% | -6.58% | 1.27% | 2.54% | 6067.06% | 123.68% | - |
| D&A (Non-Cash Add-back) | 261M | 305.4M | 315.6M | 337.1M | 327.6M | 277.6M | 251.7M | 231M | 214.3M | 208.8M | 181.1M | 176M | 161.3M | 156.2M | 134.1M | 120M | 133.8M | 131.8M | 105M | 64.8M | 31.9M |
| EBIT | -2.19B | -1.79B | -274.6M | -295.3M | -312.6M | -890.6M | 755M | 836.2M | 576.3M | 717.8M | 860.8M | 350M | -360.7M | 88.2M | 349.4M | 356.9M | 300.9M | 423.1M | 456.6M | -21.4M | -51.1M |
| Net Interest Income | -384.8M | -344M | -305.8M | -237.9M | -240.8M | -185.3M | -79M | -72M | -35.3M | -53.7M | -50.6M | -87M | -69.8M | -76.6M | -68.8M | -58.8M | -21.1M | -20.6M | -7.8M | -21.1M | -10.1M |
| Interest Income | 8.8M | 9.5M | 12.9M | 6.2M | 1.8M | 10M | 12.9M | 8M | 6.4M | 3.6M | 2.1M | 600K | 300K | 200K | 300K | 300K | 7M | 18.6M | 29M | 29M | 15.4M |
| Interest Expense | 393.6M | 353.5M | 318.7M | 244.1M | 242.6M | 195.3M | 91.9M | 80M | 41.7M | 57.3M | 52.7M | 88.1M | 70.1M | 82.9M | 77.5M | 59.1M | 43.6M | 39.2M | 36.8M | 50.1M | 25.5M |
| Other Income/Expense | -372.5M | -355.3M | -459.4M | -259.8M | -98.8M | -438.8M | -130.2M | -98.6M | -352.4M | -201.9M | -63.7M | -661.8M | -1.23B | -572.1M | -209.2M | -91.4M | -137.9M | -21.8M | 600K | -15.2M | -8.8M |
| Pretax Income | -2.59B | -2.14B | -593.6M | -541M | -558M | -1.09B | 662.9M | 756.8M | 534.9M | 661.8M | 809.3M | 262.9M | -430.3M | 10.7M | 279.3M | 297.1M | 272.6M | 383.9M | 419.8M | -71.5M | -76.6M |
| Pretax Margin % | -40.46% | -33.9% | -9.81% | -10.76% | -14.12% | -32.03% | 8.43% | 10.48% | 7.66% | 9.74% | 12.18% | 3.87% | -7.22% | 0.2% | 5.74% | 7.12% | 6.68% | 10.18% | 10.87% | -2.23% | -6.34% |
| Income Tax | 11.4M | -2.4M | 22.5M | 5.2M | -17.2M | -220.2M | 132.8M | 139.8M | 180M | 192.1M | 20.6M | -95.9M | 191.1M | -24.1M | 86.9M | 78.2M | 80.9M | 118.5M | 122.9M | -88.3M | 13.7M |
| Effective Tax Rate % | -0.44% | 0.11% | -3.79% | -0.96% | 3.08% | 20.19% | 20.03% | 18.47% | 33.65% | 29.03% | 2.55% | -36.48% | -44.41% | -225.23% | 31.11% | 26.32% | 29.68% | 30.87% | 29.28% | 123.5% | -17.89% |
| Net Income | -2.6B | -2.14B | -616.2M | -545.7M | -540.8M | -870.3M | 529.7M | 616.5M | 354.7M | 469.4M | 788M | 357.2M | -621.4M | 34.4M | 192.4M | 218.9M | 191.7M | 265.4M | 296.9M | 16.8M | -90.3M |
| Net Margin % | -40.65% | -33.88% | -10.19% | -10.85% | -13.68% | -25.56% | 6.74% | 8.54% | 5.08% | 6.91% | 11.86% | 5.25% | -10.42% | 0.64% | 3.96% | 5.25% | 4.7% | 7.04% | 7.69% | 0.52% | -7.48% |
| Net Income Growth % | -81.31% | -247.26% | -12.92% | -0.91% | 37.86% | -264.3% | -14.08% | 73.81% | -24.44% | -40.43% | 120.6% | 157.48% | -1906.4% | -82.12% | -12.11% | 14.19% | -27.77% | -10.61% | 1667.26% | 118.6% | - |
| Net Income (Continuing) | -2.6B | -2.14B | -616.1M | -546.2M | -540.8M | -870.3M | 530.1M | 617M | 354.9M | 469.7M | 788.7M | 358.8M | -621.4M | 34.8M | 192.4M | 218.9M | 191.7M | 265.4M | 296.9M | 16.8M | -90.3M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 6.2M | 5.5M | 3.8M | 3.7M | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -22.10 | -18.32 | -5.94 | -5.21 | -5.19 | -8.33 | 5.06 | 5.66 | 3.01 | 3.70 | 5.66 | 2.53 | -4.40 | 0.24 | 1.35 | 1.55 | 1.37 | 1.91 | 2.13 | 0.14 | -0.80 |
| EPS Growth % | -79.89% | -208.42% | -14.01% | -0.39% | 37.7% | -264.62% | -10.6% | 88.04% | -18.65% | -34.63% | 123.72% | 157.5% | -1933.33% | -82.22% | -12.9% | 13.14% | -28.27% | -10.33% | 1421.43% | 117.5% | - |
| EPS (Basic) | - | -18.32 | -5.94 | -5.21 | -5.19 | -8.33 | 5.11 | 5.71 | 3.04 | 3.72 | 5.69 | 2.55 | -4.40 | 0.24 | 1.36 | 1.56 | 1.39 | 1.94 | 2.21 | 0.15 | -0.80 |
| Diluted Shares Outstanding | 117.6M | 116.8M | 106.6M | 104.6M | 104.2M | 103.9M | 104.7M | 109.1M | 117.9M | 127M | 139.4M | 141.6M | 141.3M | 142.7M | 142.3M | 141M | 139.8M | 139.2M | 139.3M | 120M | 112.88M |
| Basic Shares Outstanding | 117.6M | 116.76M | 106.6M | 104.6M | 104.2M | 103.9M | 103.6M | 108M | 116.8M | 126.1M | 138.4M | 140M | 141.23M | 140.7M | 139.2M | 137.9M | 138.3M | 137M | 134.5M | 112M | 112.88M |
| Dividend Payout Ratio | - | - | - | - | - | - | 9.51% | 7.79% | 13.28% | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying SPR stock.
For fiscal year 2024, Spirit AeroSystems Holdings, Inc. (SPR) reported total revenue of $6.32B. This represents a 423.1% increase compared to $1.21B in 2005.
Spirit AeroSystems Holdings, Inc. (SPR) reported a net loss of $2.14B for the fiscal year ending 2024.
Spirit AeroSystems Holdings, Inc. (SPR) reported an operating income of $-1786.1M, resulting in an operating profit margin of -28.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Spirit AeroSystems Holdings, Inc. (SPR) generated $-1372.4M in gross profit for the year, representing a gross profit margin of -21.7%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Operational production rate volatility
Metrics are mathematically derived from official filings.
Structural Margin Erosion Persists
As reported in recent financial statements, Spirit AeroSystems' gross margin plummeted to -39.1% in 2025Q3, reflecting a severe inability to cover production costs amidst ongoing operational challenges and the persistent impact of reach-forward losses on long-term, fixed-price contracts that continue to weigh heavily on performance.
The consistent negative gross margins suggest that the company's current pricing structure is fundamentally misaligned with its high-fixed-cost manufacturing reality. Investors should monitor whether the transition toward OEM-integrated ownership will prioritize operational stability over the restoration of historical margin profiles.
Operating Leverage Remains Deeply Negative
Based on the company's latest quarterly filings, operating income reached a deficit of $669.4 million in 2025Q3, demonstrating that the firm is currently unable to achieve any meaningful operating leverage as overhead costs continue to outpace the limited revenue generated from its primary aerospace programs.
The widening gap between revenue and operating expenses indicates that the business is struggling to absorb fixed costs at current production levels. This lack of scalability suggests that until production rates stabilize and quality-related rework subsides, the company will likely remain trapped in a cycle of operational losses.
Escalating Production and Quality Costs
According to the provided income statement data, COGS reached $2.2 billion in 2025Q3, significantly exceeding the $1.6 billion in revenue, which highlights the severe impact of inflationary pressures and the high cost of out-of-sequence assembly work on the company's overall financial health and stability.
The persistent elevation of COGS relative to revenue suggests that the company is facing structural inefficiencies that go beyond simple inflationary inputs. The high level of traveled work appears to be a primary driver of these costs, necessitating a rigorous focus on quality control to prevent further margin degradation.
Sustainability of Current Operational Model
Data from the most recent ten quarters reveals a concerning trend where net losses have deepened to $724.3 million, suggesting that the current business model may be unsustainable without significant intervention or a fundamental restructuring of its contractual obligations with its primary aerospace customer base.
Short-sellers would likely focus on the persistent cash burn and the inability to return to positive net income as evidence of a broken business model. The reliance on program accounting estimates may further mask the true extent of the financial distress, warranting extreme caution regarding future earnings visibility.