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AP

Ampco-Pittsburgh Corporation

AP

Ampco-Pittsburgh Corporation • NYSE
$2.59 ▼ -3.72% (-0.10)
Market Cap $52.65 M
52w High $3.99
52w Low $1.75
Dividend Yield 0%
P/E -9.59
Volume 280.32K
Outstanding Shares 20.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $108.009M ▼ $20.23M ▼ $-2.211M ▲ -2.047% ▲ $-0.11 ▲ $8.962M ▲
Q2-2025 $113.104M ▲ $24.201M ▲ $-7.335M ▼ -6.485% ▼ $-0.36 ▼ $8.945M ▼
Q1-2025 $104.265M ▲ $18.311M ▲ $1.142M ▼ 1.095% ▼ $0.057 ▼ $9.167M ▲
Q4-2024 $100.936M ▲ $15.516M ▼ $3.102M ▲ 3.073% ▲ $0.16 ▲ $6.877M ▼
Q3-2024 $96.166M $17.907M $-1.959M -2.037% $-0.098 $7.667M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $14.958M ▲ $524.413M ▼ $449.854M ▼ $60.098M ▼
Q2-2025 $9.945M ▲ $537.153M ▲ $460.658M ▲ $62.683M ▼
Q1-2025 $7.129M ▼ $536.193M ▲ $458.523M ▼ $64.642M ▲
Q4-2024 $15.427M ▲ $530.896M ▼ $459.805M ▼ $58.883M ▼
Q3-2024 $11.844M $547.413M $473.737M $61.342M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.211M ▲ $6.251M ▲ $-1.493M ▼ $226K ▼ $5.013M ▲ $3.278M ▲
Q2-2025 $-7.335M ▼ $-2.334M ▲ $-1.303M ▲ $6.101M ▲ $2.816M ▲ $-3.795M ▲
Q1-2025 $0 ▼ $-5.28M ▼ $-1.711M ▼ $-1.727M ▲ $-8.298M ▼ $-7.48M ▼
Q4-2024 $3.102M ▲ $7.452M ▼ $-1.588M ▲ $-1.91M ▲ $3.583M ▼ $3.701M ▼
Q3-2024 $0 $11.356M $-2.287M $-5.365M $3.952M $8.423M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Air And Liquid Processing
Air And Liquid Processing
 $30.00M ▲$30.00M ▲$40.00M ▲$40.00M ▲
Air Handling Systems
Air Handling Systems
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Centrifugal Pumps
Centrifugal Pumps
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Forged And Cast Engineered Products
Forged And Cast Engineered Products
 $70.00M ▲$70.00M ▲$80.00M ▲$70.00M ▼
Forged And Cast Mill Rolls
Forged And Cast Mill Rolls
 $60.00M ▲$70.00M ▲$70.00M ▲$70.00M ▲
Forged Engineered Products
Forged Engineered Products
 $0 ▲$0 ▲$10.00M ▲$10.00M ▲
Heat Exchange Coils
Heat Exchange Coils
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past few years and has recently leveled off, suggesting a relatively stable but not fast‑growing business. Profitability has been thin, with gross profit consistently positive but operating and net income hovering around breakeven, aside from a notable loss in a recent prior year. The most recent year shows a return to modest operating profit and roughly break‑even net results, which is an improvement from that earlier loss. Overall, the income statement signals a business that is working to stabilize margins in a cyclical, cost‑sensitive industry, with only a small cushion against shocks.

Balance Sheet

Balance Sheet The balance sheet shows a moderate asset base that has edged up over time, supporting a stable operating platform rather than aggressive expansion. Cash reserves are relatively small, which can limit flexibility and make the company more dependent on consistent operations and credit access. Debt has increased compared with a few years ago and now sits at a level that is meaningful relative to the company’s equity, indicating a more levered capital structure. Shareholders’ equity has shrunk compared to earlier years and then stabilized, which suggests limited balance‑sheet buffer and highlights the importance of maintaining profitability. Overall, financial strength is adequate but not robust, with leverage and low cash as key watch points.

Cash Flow

Cash Flow Operating cash flow has been inconsistent, with some earlier years showing outflows, but the most recent period reflects a return to positive cash generation from the core business. Free cash flow has followed a similar pattern, swinging between negative and modestly positive, which points to a business that can fund itself in better years but has limited room for missteps. Capital spending has been relatively steady and modest, indicating ongoing maintenance and targeted investments rather than heavy expansion. The cash‑flow profile suggests improving discipline, but also underscores that the company operates with a thin cash cushion and needs to keep execution tight.

Competitive Edge

Competitive Edge Ampco‑Pittsburgh operates in specialized corners of the metals and engineered equipment markets, where customization and performance matter more than sheer volume. In forged and cast rolls, it holds a leading global position, especially for demanding steel and aluminum applications, which gives it a degree of pricing power and customer stickiness. Its air and liquid processing brands serve critical, regulated environments—such as naval, pharmaceutical, and power applications—where reliability and engineering expertise are highly valued and switching suppliers can be difficult. Long‑standing customer relationships, a global manufacturing footprint, and the ability to design to exact specifications together create meaningful barriers for smaller or more generic competitors. That said, the company still faces cyclical demand from end‑markets like steel and industrial capital spending, which can pressure volumes and margins.

Innovation and R&D

Innovation and R&D The company’s innovation is centered on engineering know‑how rather than mass‑market product launches. Investments in advanced heat treatment and quenching technologies for rolls improve product uniformity and performance, strengthening its appeal to modern, high‑spec rolling mills. In pumps, air handling, and heat exchangers, the company focuses on custom designs for mission‑critical uses, such as sealed pumps where leakage is unacceptable and bespoke HVAC systems for sensitive facilities. Ongoing research into new alloys, improved pump designs, and more efficient heat exchangers is intended to keep it ahead in these niches, even if overall R&D spending is not large by big‑industrial standards. Wins on new rolling mill projects and specialized naval and power applications are practical signs that this innovation is translating into business opportunities.

Summary

Ampco‑Pittsburgh looks like a niche industrial player with specialized products, modest scale, and a business tied closely to capital spending and industrial cycles. The recent trend in the income statement shows stabilization and a return to slim profitability after a more difficult year, but margins and earnings remain fragile. The balance sheet and cash‑flow history indicate limited financial headroom, with higher leverage, small cash balances, and historically uneven cash generation. On the positive side, the company’s competitive position in high‑spec forged rolls and custom air and liquid processing equipment provides differentiation, stickier customer relationships, and potential pricing power. Future performance will likely depend on its ability to keep winning specialized contracts, maintain its engineering edge, and translate that niche strength into more consistent profits and cash flow while carefully managing leverage and investment needs.

NEWS

November 12, 2025 · 4:04 PM UTC

Ampco-Pittsburgh Corporation (NYSE: AP) Announces Third Quarter 2025 Results

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November 7, 2025 · 4:15 PM UTC

Ampco-Pittsburgh Corporation to Present at the Three Part Advisors IDEAS Investor Conference on November 19, 2025 in Dallas, TX

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November 7, 2025 · 4:04 PM UTC

Ampco-Pittsburgh Corporation (NYSE: AP) Announces CFO Transition

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October 15, 2025 · 4:05 PM UTC

Ampco-Pittsburgh Subsidiary Accelerates Exit from U.K. Operations

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