Astronics (ATRO)
NASDAQ:ATRO
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Astronics
(NASDAQ:ATRO)
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Rating:67Neutral
Price Target:
$87.00
▲(13.03% Upside)
Action:Reiterated
Date:05/14/26
The score reflects strong technical momentum and a constructive earnings outlook (raised guidance, record backlog, margin expansion), balanced against elevated leverage and uneven recent cash conversion. Valuation is not cheap (P/E ~26) and there is no dividend yield data to provide additional support.
Positive Factors
Strong revenue visibility & backlog
Raised 2026 guidance and a record $734M backlog provide durable revenue visibility and reduce near-term demand uncertainty. A book-to-bill >1 and sustained bookings trend underpin multi-quarter order conversion, supporting predictable production pacing and capacity planning.
Negative Factors
Elevated leverage and low cash buffer
Significantly higher debt and a thin cash position materially reduce financial flexibility. High leverage increases refinancing and interest-rate sensitivity, limiting the firm's ability to fund capex, absorb shocks, or pursue M&A without raising external capital or cutting investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue visibility & backlog
Raised 2026 guidance and a record $734M backlog provide durable revenue visibility and reduce near-term demand uncertainty. A book-to-bill >1 and sustained bookings trend underpin multi-quarter order conversion, supporting predictable production pacing and capacity planning.
Read all positive factors
Astronics Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down income from various business units, providing insight into which segments drive growth and how diversified the company’s revenue sources are.
Breaks down income from various business units, providing insight into which segments drive growth and how diversified the company’s revenue sources are.
Data provided by:
The Fly
The FlyAstronics (ATRO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.88B
Dividend YieldN/A
Average Volume (3M)498.92K
Price to Earnings (P/E)26.1
Beta (1Y)0.89
Revenue Growth8.64%
EPS GrowthN/A
CountryUS
Employees2,500
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)1.26
Shares Outstanding32,064,056
10 Day Avg. Volume692,769
30 Day Avg. Volume498,921
Financial Highlights & Ratios
PEG Ratio-0.26
Price to Book (P/B)14.90
Price to Sales (P/S)2.42
P/FCF Ratio48.40
Enterprise Value/Market Cap1.18
Enterprise Value/Revenue3.85
Enterprise Value/Gross Profit12.53
Enterprise Value/Ebitda31.25
Forecast
1Y Price Target
$97.33Price Target Upside26.46% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)2.66
Revenue Forecast (FY)$966.83M
Astronics Business Overview & Revenue Model
Company Description
Astronics 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...
How the Company Makes Money
Astronics makes money mainly by selling engineered aerospace and defense products and test solutions to aircraft manufacturers, defense contractors, and other aerospace industry customers. A key revenue stream comes from delivering proprietary har...
Astronics Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive operational and financial momentum: strong top-line growth (Q1 sales +12%), record bookings and backlog, raised full-year guidance, and meaningful margin expansion. Key strategic drivers (IFEC demand, rising aircraft production rates, seat motion growth and an expected Army test program) underpin the upside. Offsetting items include weaker operating cash flow due to inventory build, low cash balances versus significant debt, tariff and component cost pressure, elevated CapEx/ERP spending, and some margin sensitivity to program accounting adjustments. Overall, the positive growth, margin improvement, record bookings/backlog and raised guidance materially outweigh the near-term liquidity and cost headwinds.Positive Updates
Revenue Growth and Quarterly Record
Q1 revenue of $231 million (Pete cited ~$230M), up 12% year-over-year from $206 million; second-highest quarterly sales ever and at the high end of guidance.
Negative Updates
Cash Flow and Working Capital Drain
Operating cash generation fell to $10.6M in Q1 from $20.6M a year ago due to higher working capital requirements and inventory buildup to support anticipated revenue growth.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth and Quarterly Record
Q1 revenue of $231 million (Pete cited ~$230M), up 12% year-over-year from $206 million; second-highest quarterly sales ever and at the high end of guidance.
Read all positive updates
Company Guidance
Astronics raised 2026 revenue guidance to $970M–$1.0B (previously $950M–$990M), a midpoint ~14% above 2025 sales (up to ~16% at the high end), and sees Q2 sales of $245M–$250M (a new quarterly record); management is targeting sustainable high‑teens adjusted operating margins (Q1 adjusted EBITDA margin was 16.4%) and expects the U.S. Army radio test program to contribute roughly $40M–$50M annually (about $20M in H2 2026). Capital expenditures for 2026 are expected to be $40M–$45M; ERP program spend is $15M–$17M in 2026 (with $2M–$3M flowing through P&L) and $35M–$40M over five years (≈$25M to be capitalized). Guidance is underpinned by strong order trends (Q1 bookings ≈ $290M, book‑to‑bill 1.26, backlog a record $734M) and cited liquidity of about $231.8M available (cash $11.9M, total debt $334.9M), plus a potential one‑time tax benefit when the valuation allowance is released, possibly as early as Q2.Astronics Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
44
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 886.81M | 862.13M | 795.43M | 689.21M | 534.89M | 444.91M |
| Gross Profit | 272.44M | 258.16M | 168.34M | 120.80M | 71.54M | 65.36M |
| EBITDA | 109.22M | 98.25M | 50.93M | 19.43M | -2.27M | -4.68M |
| Net Income | 45.37M | 29.36M | -16.21M | -26.42M | -35.75M | -25.58M |
Balance Sheet | ||||||
| Total Assets | 747.14M | 706.68M | 648.76M | 649.00M | 615.03M | 609.14M |
| Cash, Cash Equivalents and Short-Term Investments | 11.87M | 18.18M | 9.29M | 11.31M | 13.78M | 29.76M |
| Total Debt | 379.11M | 378.35M | 193.87M | 197.88M | 178.41M | 181.80M |
| Total Liabilities | 585.44M | 566.60M | 392.67M | 399.48M | 375.11M | 352.53M |
| Stockholders Equity | 161.70M | 140.07M | 256.10M | 249.52M | 239.92M | 256.60M |
Cash Flow | ||||||
| Free Cash Flow | 24.77M | 43.12M | 22.14M | -31.59M | -35.99M | -11.56M |
| Operating Cash Flow | 65.50M | 74.80M | 30.57M | -23.95M | -28.31M | -5.53M |
| Investing Cash Flow | -62.80M | -53.75M | -8.43M | -4.11M | 14.39M | 3.18M |
| Financing Cash Flow | -17.26M | -22.39M | -14.53M | 25.43M | -1.41M | -7.50M |
Astronics Technical Analysis
Positive
76.97
Price Trends
72.65
Positive
72.64
Positive
58.91
Positive
Market Momentum
2.44
Negative
64.85
Neutral
78.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ATRO, the sentiment is Positive. The current price of 76.97 is above the 20-day moving average (MA) of 75.89, above the 50-day MA of 72.65, and above the 200-day MA of 58.91, indicating a bullish trend. The MACD of 2.44 indicates Negative momentum. The RSI at 64.85 is Neutral, neither overbought nor oversold. The STOCH value of 78.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ATRO.
Astronics Risk Analysis
Astronics disclosed 42 risk factors in its most recent earnings report. Astronics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Astronics Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $2.88B | 26.13 | 26.60% | ― | 8.64% | ― | |
65 Neutral | $4.28B | 16.28 | 12.07% | ― | 16.85% | ― | |
64 Neutral | $6.47B | 41.28 | 8.35% | 0.89% | 1.46% | -0.14% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $2.16B | 48.18 | -4.86% | ― | 6.48% | -191.94% | |
61 Neutral | $5.69B | -370.51 | -0.96% | ― | 8.95% | 78.82% |
* Industrials Sector Average
ATRO
Astronics
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177.84%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.