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Makes aerospace electronics, including aircraft power, lighting and inflight-connectivity systems for commercial and defense aviation.
Makes aerospace electronics, including aircraft power, lighting and inflight-connectivity systems for commercial and defense aviation.
Sells to seat makers and aircraft builders, so shipments follow plane production and airline cabin retrofits. Defense and commercial programs both feed it, and qualification on a platform makes sales recurring for the life of the aircraft.
Moat: narrow (customer qualification, installed base). Qualified supplier status on aircraft platforms is costly and slow for airlines/OEMs to switch.
Headquarters: East Aurora, New York, US · Founded: 1925 · Employees: 2,700
Size Astronics (ATRO) is a United States Industrials company (Aerospace & Defense) with a market value of $2.36B, the 1694th largest of 3,117 United States companies the cockpit tracks. Shares closed at $54.71 on 6 Nov 2026.
Performance Over six months the shares fell 12.6%, against -17.5% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 20 in its peer set.
Growth Revenue grew 14.5% over the last twelve months (peer median +3.5%); the operating margin is 13.7% (peer median -0.1%).
Valuation It trades at 18.6× forward earnings against a peer median of 57.5× (4th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 7.9 points above its cost of capital (10.9% WACC).
Backlog Backlog (remaining performance obligations) was $781M at 4 Jul 2026, up 21% on a year earlier — 0.8 years of trailing revenue. Backlog detail →
Credit Astronics has 1 bond outstanding ($225M).
Short interest Short interest is 8.9% of the free float (15 Oct 2026).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $942M | $862M | $795M | $689M | $535M |
| Revenue growth | — | +8% | +15% | +29% | — |
| Gross profit | $307M | $258M | $220M | $174M | $114M |
| EBITDA | $152M | $98.2M | $50.9M | $19.4M | -$5.04M |
| Net income | $79.1M | $29.4M | -$16.2M | -$26.4M | -$35.7M |
| Free cash flow | $61.4M | $43.1M | $22.1M | -$31.6M | -$36.0M |
| Capital expenditure | $41.8M | $31.7M | $8.43M | $7.64M | $7.67M |
| Total debt | $353M | $378M | $194M | $198M | $178M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Astronics ATRO | $2.36B | -13% | +14% | 14% | 18.6× | 17.3% |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
| Safran SAF.PA | $138B | +4% | +14% | 13% | 28.5× | 22.2% |
| RTX RTX | $256B | +8% | +12% | 11% | 24.4× | 8.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ATRO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.1% | -2.3% | 6th lowest of 20 |
| 6-month return | -12.6% | -17.5% | 9th highest of 20 |
| Distance from 52-week high | -42.1% | -39.4% | 9th lowest of 21 |
| Revenue growth (TTM) | +14.5% | +3.5% | 7th highest of 20 |
| Operating margin | 13.7% | -0.1% | 4th highest of 21 |
| Forward P/E | 18.6× | 57.5× | 4th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 17.3% | 29.7% | 3rd least demanding of 10 |
| Growth delivered (Del g) | +11.4% | +7.5% | 4th highest of 10 |
| Hurdle (Req g minus delivered) | +5.9 pp | +18.7 pp | 2nd least demanding of 10 |
| ROIC minus cost of capital | +7.9 pp | -5.9 pp | 3rd highest of 21 |
| EV / EBITDA | 17.8× | 16.7× | 4th most expensive of 8 |
| Net debt / EBITDA | 2.3× | -0.2× | 2nd most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Astronics ATRO | United States | $2.36B | -13% | +14% | 14% | 18.6× | 17.3% | +11.4% |
| Exail Technologies EXA.PA | France | $2.37B | +10% | +24% | -2% | 62.9× | 42.5% | +26.0% |
| Intuitive Machines LUNR | United States | $2.40B | -64% | +117% | -20% | n/a | n/a | n/a |
| Hunan Aerospace Huanyu Communication Technology 688523.SS | China | $2.19B | -45% | -30% | -8% | 100.3× | n/a | n/a |
| AECC Aero Science And Technology 600391.SS | China | $2.13B | +16% | -15% | 4% | 253.6× | 29.7% | +9.7% |
| Aerospace CH UAV 002389.SZ | China | $2.64B | -17% | +3% | 0% | 54.9× | n/a | n/a |
| North Navigation Control Technology 600435.SS | China | $2.65B | -19% | -32% | -5% | 97.4× | 17.1% | +6.8% |
| Bodycote BOY.L | United Kingdom | $2.09B | +35% | +2% | 15% | 18.1× | 22.6% | +4.0% |
| Ducommun DCO | United States | $2.04B | -1% | +9% | 10% | 27.6× | n/a | n/a |
| Sai MicroElectronics 300456.SZ | China | $2.75B | -45% | -59% | -99% | 65.9× | 41.7% | +1.5% |
| Sensofusion SENSO.HE | Finland | $1.97B | n/a | n/a | 64% | n/a | n/a | n/a |
| Ligeance Aerospace Technology 000697.SZ | China | $1.94B | -9% | +24% | -10% | n/a | n/a | n/a |
| North Industries Group Red Arrow 000519.SZ | China | $2.88B | -22% | +100% | 1% | 57.5× | 23.0% | +7.5% |
| Chemring CHG.L | United Kingdom | $1.92B | +13% | -4% | 13% | 27.0× | n/a | n/a |
| Cirrus Aircraft 2507.HK | Hong Kong | $1.85B | +5% | +14% | 13% | 10.6× | -1.4% | +18.3% |
| China Marine Information Electronics 600764.SS | China | $1.82B | -28% | +9% | -2% | 85.3× | n/a | n/a |
| Redwire RDW | United States | $1.80B | -35% | +63% | -41% | n/a | n/a | n/a |
| AviChina Industry & Technology 2357.HK | Hong Kong | $3.11B | -13% | +2% | 5% | 8.1× | n/a | n/a |
| MTAR Technologies MTARTECH.NS | India | $1.77B | -18% | +108% | 20% | 64.7× | 48.5% | +29.2% |
| Anhui GreatWall Military Industry 601606.SS | China | $3.20B | -22% | -10% | -7% | n/a | n/a | n/a |
| Inner Mongolia First Machinery 600967.SS | China | $3.22B | -10% | -7% | 0% | 26.0× | 38.2% | -5.4% |
Astronics has 1 bond outstanding with $225M face value.
Astronics reported $781M of remaining performance obligations at 4 Jul 2026, up 21% from a year earlier and up 6% from the previous quarter. That is 0.8 years of trailing revenue already under contract. Book-to-bill last quarter: 1.18.