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Astronics
(NASDAQ:ATRO)
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Rating:65Neutral
Price Target:
$70.00
▲(0.21% Upside)
Action:Reiterated
Date:06/12/26
The score is primarily supported by improving fundamentals and a positive earnings outlook (raised guidance, record backlog, expanding margins) alongside strong technical momentum. It is held back by elevated leverage and softer recent cash conversion, and by a demanding valuation (high P/E with no dividend yield provided).
Positive Factors
Record bookings & raised guidance
A record $734M backlog and ~$290M bookings plus raised 2026 guidance provide durable near‑to‑mid‑term revenue visibility. This supports production planning, capacity investment and recurring deliveries, reducing sales volatility from quarter to quarter over the next 2–6 months.
Negative Factors
High leverage and low cash
Significantly elevated leverage and minimal cash balances reduce financial flexibility and increase refinancing and interest‑cost sensitivity. This constrains strategic options and makes the company more vulnerable to funding stress or rising rates in the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Record bookings & raised guidance
A record $734M backlog and ~$290M bookings plus raised 2026 guidance provide durable near‑to‑mid‑term revenue visibility. This supports production planning, capacity investment and recurring deliveries, reducing sales volatility from quarter to quarter over the next 2–6 months.
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
$3.21B
Dividend YieldN/A
Average Volume (3M)729.57K
Price to Earnings (P/E)43.1
Beta (1Y)0.90
Revenue Growth14.49%
EPS GrowthN/A
CountryUS
Employees2,700
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)1.92
Shares Outstanding32,040,340
10 Day Avg. Volume454,241
30 Day Avg. Volume729,574
Financial Highlights & Ratios
PEG Ratio-0.20
Price to Book (P/B)12.42
Price to Sales (P/S)2.02
P/FCF Ratio40.34
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$97.50Price Target Upside39.58% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)2.5
Revenue Forecast (FY)$986.37M
Astronics Business Overview & Revenue Model
Company Description
Astronics Corporation (ATRO) is an aerospace and defense supplier that designs and manufactures mission-critical systems and components primarily for commercial, business, and military aircraft. The company’s offerings span aircraft electrical pow...
How the Company Makes Money
Astronics makes money primarily by selling engineered aerospace and defense products and related services to original equipment manufacturers (OEMs), aircraft system integrators, and aftermarket customers. Its core revenue model is based on (1) pr...
Astronics Earnings Call Summary
Earnings Call Date:Aug 11, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum — record revenue, bookings, backlog and materially improved margins (adjusted EBITDA ~19.8%), supported by major program wins (MV-75 development and a $44.7M Army production order), improving cash generation and a healthier balance sheet. Headwinds exist (ongoing tariff costs, temporary margin pressure in Test Systems during ramp, GEO disruption from LEO transition, and remaining contract repricing work), but management presented clear levers (volume, pricing, efficiency, portfolio simplification) with room to run. On balance, the positives substantially outweigh the negatives.Positive Updates
Record Revenue and Strong Top-Line Growth
Revenue reached a record $260.0M in Q2 2026, up 27% year-over-year, and management raised full-year revenue guidance to $1.02B–$1.04B (crossing the $1B threshold).
Negative Updates
Tariff Headwinds and Uncertain Refund Timing
While a $2M IEEPA refund aided margins in Q2 (~70 bps), management estimates an ongoing tariff run rate of ~$3M–$4M per quarter at current volumes and expects future IEEPA refunds of ~$6M–$8M with uncertain timing.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue and Strong Top-Line Growth
Revenue reached a record $260.0M in Q2 2026, up 27% year-over-year, and management raised full-year revenue guidance to $1.02B–$1.04B (crossing the $1B threshold).
Read all positive updates
Company Guidance
Management raised FY2026 revenue guidance to $1.02–$1.04 billion and expects Q3 sales of $265–$275 million with Q4 revenue modestly higher, targeting adjusted operating/EBITDA margins in the high teens (Q2 adjusted EBITDA margin = 19.8%, adjusted operating margin = 16.6%); they forecast ~$35 million of 2026 revenue from the MV‑75 FLRAA program, expect the $44.7M Army 4549 radio test production award to ramp to full‑rate by the end of Q4 (supporting ~18 months of deliveries) and to drive Test margins closer to Aerospace levels, and noted Q2 bookings of $306M with Aerospace bookings $243.1M (book‑to‑bill 1.02) and Test bookings $63.1M (book‑to‑bill 2.78) leaving backlogs of $657.2M (Aerospace) and $123.3M (Test); other guidance items include R&D of roughly $10–$12M per quarter, full‑year CapEx of $40–$45M (YTD $16.9M), expected future IEEPA tariff refunds of ~$6–$8M (timing uncertain) offset by an ongoing tariff run‑rate of ~$3–$4M/quarter, an expectation to be free‑cash‑flow positive for the remainder of the year, available liquidity of $253.2M and long‑term debt of $310.3M, and potential additional deferred tax valuation allowance release of roughly $40–$50M pending sufficient future taxable income.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 | 942.09M | 862.13M | 795.43M | 689.21M | 534.89M | 444.91M |
| Gross Profit | 306.51M | 258.16M | 168.34M | 120.80M | 71.54M | 65.36M |
| EBITDA | 104.41M | 66.34M | 16.60M | -207.00K | -2.02M | -4.68M |
| Net Income | 79.12M | 29.36M | -16.21M | -26.42M | -35.75M | -25.58M |
Balance Sheet | ||||||
| Total Assets | 760.84M | 706.68M | 648.76M | 649.00M | 615.03M | 609.14M |
| Cash, Cash Equivalents and Short-Term Investments | 9.02M | 18.18M | 9.29M | 11.31M | 13.78M | 29.76M |
| Total Debt | 352.97M | 378.35M | 193.87M | 197.88M | 178.41M | 181.80M |
| Total Liabilities | 562.62M | 566.60M | 392.67M | 399.48M | 375.11M | 352.53M |
| Stockholders Equity | 198.22M | 140.07M | 256.10M | 249.52M | 239.92M | 256.60M |
Cash Flow | ||||||
| Free Cash Flow | 61.42M | 43.12M | 22.14M | -31.59M | -35.99M | -11.56M |
| Operating Cash Flow | 103.25M | 74.80M | 30.57M | -23.95M | -28.31M | -5.53M |
| Investing Cash Flow | -63.91M | -53.75M | -8.43M | -4.11M | 14.39M | 3.18M |
| Financing Cash Flow | -43.25M | -22.39M | -14.53M | 25.43M | -1.41M | -7.50M |
Astronics Technical Analysis
Positive
69.85
Price Trends
73.67
Positive
66.69
Positive
58.50
Positive
Market Momentum
2.04
Negative
71.03
Negative
69.68
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 69.85 is below the 20-day moving average (MA) of 71.94, below the 50-day MA of 73.67, and above the 200-day MA of 58.50, indicating a bullish trend. The MACD of 2.04 indicates Negative momentum. The RSI at 71.03 is Negative, neither overbought nor oversold. The STOCH value of 69.68 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $7.60B | 51.16 | 11.41% | 0.63% | 4.63% | 84.70% | |
65 Neutral | $3.21B | 43.08 | 51.97% | ― | 14.49% | ― | |
64 Neutral | $5.86B | 30.36 | 12.19% | ― | 18.97% | 1317.49% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $6.55B | -468.68 | -0.96% | ― | 8.95% | 78.82% | |
60 Neutral | $2.98B | -111.27 | -3.69% | ― | 8.57% | -162.23% |
* Industrials Sector Average
ATRO
Astronics
87.89
60.56
221.61%
AIR
AAR
148.16
69.48
88.31%
DCO
Ducommun
201.39
109.03
118.05%
HXL
Hexcel
102.31
38.91
61.37%
MRCY
Mercury Systems
111.64
43.25
63.24%
Astronics Corporate Events
Other
Astronics Announces 20% Class B Stock Distribution Plan
Positive
Jun 1, 2026
On June 1, 2026, Astronics announced it will issue a 20% stock distribution of its high-vote Class B shares to holders of both Common and Class B Stock, granting one Class B share for every five shares held as of the June 15 record date. The distr...
Business Operations and StrategyShareholder Meetings
Astronics Shareholders Approve Governance Proposals at Annual Meeting
Positive
May 28, 2026
At its Annual Meeting of Shareholders held on May 28, 2026, Astronics Corporation’s investors elected the full slate of board nominees, including Chair and CEO Peter J. Gundermann, with varying levels of support across individual directors. ...
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.