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ATI

ATI Inc.

ATI

ATI Inc. • NYSE
$100.80 ▲ 0.50% (+0.50)
Market Cap $13.70 B
52w High $103.64
52w Low $39.23
Dividend Yield 0%
P/E 32.52
Volume 402.28K
Outstanding Shares 135.86M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.125B ▼ $92.9M ▲ $110M ▲ 9.773% ▲ $0.8 ▲ $213.3M ▲
Q2-2025 $1.14B ▼ $82.8M ▼ $100.7M ▲ 8.83% ▲ $0.72 ▲ $200.3M ▲
Q1-2025 $1.144B ▼ $92.9M ▲ $97M ▼ 8.476% ▼ $0.68 ▼ $191.7M ▲
Q4-2024 $1.173B ▲ $49.9M ▼ $137.1M ▲ 11.691% ▲ $0.97 ▲ $168M ▼
Q3-2024 $1.051B $82.2M $82.7M 7.867% $0.64 $176.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $372.2M ▲ $5.003B ▼ $3.177B ▲ $1.707B ▼
Q2-2025 $319.6M ▼ $5.021B ▼ $3.163B ▼ $1.743B ▼
Q1-2025 $475.8M ▼ $5.184B ▼ $3.202B ▼ $1.873B ▲
Q4-2024 $721.2M ▲ $5.231B ▲ $3.275B ▲ $1.85B ▲
Q3-2024 $406.6M $5.066B $3.154B $1.791B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $110M ▲ $229.5M ▲ $-29.8M ▲ $-146.8M ▲ $52.6M ▲ $229.5M ▲
Q2-2025 $104M ▲ $161.5M ▲ $-68.6M ▼ $-258.3M ▼ $-156.2M ▲ $89.4M ▲
Q1-2025 $100.5M ▼ $-92.5M ▼ $-50.6M ▼ $-107.5M ▼ $-245.4M ▼ $-145.8M ▼
Q4-2024 $142.1M ▲ $380.9M ▲ $18.6M ▲ $-94.2M ▼ $314.6M ▲ $333.6M ▲
Q3-2024 $86.6M $24M $-61.1M $27.7M $-19M $-41.8M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Advanced Alloys Solutions
Advanced Alloys Solutions
 $600.00M ▲$560.00M ▼$580.00M ▲$570.00M ▼
High Performance Materials Components
High Performance Materials Components
 $700.00M ▲$580.00M ▼$660.00M ▲$660.00M ▲

Five-Year Company Overview

Income Statement

Income Statement ATI’s income statement shows a clear recovery story turning into a solid, though not perfectly smooth, growth profile. Revenue has trended upward meaningfully over the last several years, moving from a difficult year in 2020 to much higher levels today. Profitability has improved even more sharply than sales. Gross profit and operating profit margins have steadily strengthened as the company shifted mix, pushed more specialty products, and likely managed costs better. The move from losses in 2020 to sustained profits afterward is a key positive. One nuance: in the most recent year, sales continued to grow, but earnings per share slipped a bit versus the prior year. That suggests some margin pressure, cost headwinds, or mix issues despite higher volume. Overall, though, the trend line is one of much healthier, more durable earnings than earlier in the period.

Balance Sheet

Balance Sheet ATI’s balance sheet has gradually become sturdier. Total assets have grown, and the company has rebuilt its equity base significantly since 2020, improving its capital structure. Debt remains meaningful, but the ratio of debt to equity looks much more comfortable than a few years ago, as retained earnings and profitability have boosted equity. Cash levels have been relatively stable, giving the company a financial cushion without being overly conservative. In simple terms, ATI looks less stretched and more balanced financially than it did several years back, though it is still a capital‑intensive business that needs ongoing access to funding and disciplined leverage management.

Cash Flow

Cash Flow Cash flow has been the most uneven part of the story but is improving. Operating cash flow bounced around for several years, at times barely covering investment needs, but the latest year shows a strong step up in cash generation from the core business. Free cash flow has flipped between modestly positive and modestly negative, reflecting swings in working capital and consistent capital spending. Recently, free cash flow turned clearly positive, which is encouraging given ATI’s ongoing need to invest in equipment and advanced facilities. Overall, cash generation has historically been choppy, but the current direction is favorable. The key watch point is whether this stronger cash performance can be sustained through industry cycles and investment phases.

Competitive Edge

Competitive Edge ATI holds a strong competitive position within high‑performance metals and components, especially for aerospace and defense. Its edge comes from deep materials science expertise, a very broad portfolio of specialty alloys, and the ability to supply both raw materials and finished, highly engineered parts. Long‑term supply agreements with major aircraft and defense manufacturers provide visibility and make it harder for customers to switch away. ATI’s vertical integration—from melting to finished components—supports quality, reliability, and customization, all of which matter greatly in mission‑critical applications. Barriers to entry in its core markets are high, given regulatory requirements, long qualification cycles, and the need for proven reliability. The flip side is concentration risk: ATI is heavily tied to aerospace and defense cycles, and to a smaller group of powerful customers, which can amplify both the upside and downside of industry swings.

Innovation and R&D

Innovation and R&D Innovation is central to ATI’s identity. The company develops proprietary nickel and titanium alloys, advanced melting and forging processes, and increasingly sophisticated powder metals for additive manufacturing. These capabilities enable ATI to serve applications where performance requirements are extremely demanding. ATI isn’t just selling commodity metal; it is designing materials and components around specific customer needs. Its work in isothermal forging, hot stamping, and precision components, plus its leading titanium sheet capabilities, helps differentiate it from more basic metal producers. Looking ahead, ATI is leaning into 3D‑printing materials, next‑generation aerospace and defense platforms, and adjacent sectors like medical and energy. Ongoing investment in more efficient, sustainable production also aligns with tightening environmental expectations and can, over time, support both cost and brand advantages.

Summary

ATI has transformed from a stressed, loss‑making metals business in 2020 into a more profitable, specialty materials company with healthier margins and a stronger balance sheet. Revenue and operating performance have improved significantly, even if the latest year shows that earnings growth will not be perfectly linear. Financially, leverage looks more manageable and cash generation has recently strengthened, though past volatility in cash flow suggests this is an area to monitor during downturns or heavy investment phases. Strategically, ATI benefits from a deep technology base, strong customer ties, and high barriers to entry in aerospace and defense. Its focus on advanced alloys, components, and additive manufacturing positions it on the higher‑value side of the metals spectrum. The main trade‑offs are exposure to cyclical, concentrated end markets and the ongoing need for substantial capital and R&D spending to maintain its edge.

NEWS

November 18, 2025 · 8:30 AM UTC

ATI President and CEO Kimberly A. Fields Elected Board Chair

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November 6, 2025 · 6:59 AM UTC

Aclaris Therapeutics Reports Third Quarter 2025 Financial Results and Provides Corporate Update

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October 28, 2025 · 7:42 AM UTC

ATI Announces Third Quarter 2025 Results

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October 16, 2025 · 9:03 AM UTC

Altai Announces Completion of Special Cash Distribution to Shareholders

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September 30, 2025 · 8:31 AM UTC

ATI Announces Webcast for Third Quarter 2025 Results

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