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ATRO

Astronics Corporation

ATRO

Astronics Corporation • NASDAQ
$54.57 ▼ -0.11% (-0.06)
Market Cap $1.93 B
52w High $55.29
52w Low $15.41
Dividend Yield 0%
P/E -606.33
Volume 197.00K
Outstanding Shares 35.34M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $211.447M ▲ $41.456M ▼ $-11.098M ▼ -5.249% ▼ $-0.31 ▼ $-4.241M ▼
Q2-2025 $204.678M ▼ $48.069M ▲ $1.314M ▼ 0.642% ▼ $0.04 ▼ $10.136M ▼
Q1-2025 $205.936M ▼ $47.712M ▲ $9.528M ▲ 4.627% ▲ $0.27 ▲ $18.912M ▲
Q4-2024 $208.54M ▲ $41.178M ▲ $-2.832M ▲ -1.358% ▲ $-0.08 ▲ $14.77M ▲
Q3-2024 $203.698M $34.369M $-11.738M -5.762% $-0.34 $14.415M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $13.479M ▲ $682.193M ▲ $573.285M ▲ $108.908M ▼
Q2-2025 $13.46M ▼ $646.688M ▼ $375.117M ▼ $271.571M ▲
Q1-2025 $24.805M ▲ $662.242M ▲ $395.485M ▲ $266.757M ▲
Q4-2024 $9.285M ▲ $648.764M ▼ $392.667M ▼ $256.097M ▲
Q3-2024 $6.364M $651.597M $402.393M $249.204M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-11.098M ▼ $34.904M ▲ $-17.767M ▼ $-10.8M ▼ $6.12M ▲ $21.754M ▲
Q2-2025 $1.314M ▼ $-7.634M ▼ $-4.605M ▼ $-1.175M ▲ $-12.488M ▼ $-12.239M ▼
Q1-2025 $9.528M ▲ $20.642M ▼ $-2.105M ▲ $-11.371M ▼ $7.52M ▼ $18.537M ▼
Q4-2024 $-2.832M ▲ $26.417M ▲ $-3.184M ▼ $-10.622M ▼ $12.064M ▲ $23.233M ▲
Q3-2024 $-11.738M $8.372M $-1.85M $-4.713M $1.972M $6.522M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Aerospace Segment
Aerospace Segment
 $180.00M ▲$190.00M ▲$190.00M ▲$190.00M ▲
Test Systems Segment
Test Systems Segment
 $30.00M ▲$20.00M ▼$10.00M ▼$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been climbing steadily over the past several years, showing that demand is recovering and growing after earlier weakness. Profitability has improved meaningfully: the company has moved from operating losses to modest operating profit, and underlying earnings quality is better than it was during the downturn. That said, the bottom line is still in the red, so Astronics is not yet consistently profitable. Losses are narrowing, but the margin of safety remains thin, and results are still sensitive to any slowdown in aerospace or defense spending.

Balance Sheet

Balance Sheet The balance sheet looks relatively steady, with total assets and shareholder equity holding at fairly similar levels over time. Debt is noticeable but not extreme for an aerospace supplier, and it has not ballooned in recent years, which reduces refinancing risk. Cash on hand is on the lighter side, which limits flexibility if conditions worsen, but the overall capital structure appears balanced rather than stretched. The picture is of a company that has come through a difficult period without severely damaging its financial foundation, but without a large buffer either.

Cash Flow

Cash Flow Cash generation has turned a corner. After several years of cash outflows from day‑to‑day operations, Astronics has recently shifted back to producing cash, even after normal investment in the business. Capital spending has been fairly disciplined and consistent, suggesting the company is investing enough to maintain and advance its technology without overreaching. The improvement in free cash flow is a key positive sign, but the track record is still mixed, so the durability of this better cash performance remains something to watch.

Competitive Edge

Competitive Edge Astronics occupies a specialized niche in aerospace and defense, focusing on power, connectivity, lighting, interiors, and test systems. It benefits from long, entrenched relationships with major aircraft makers, airlines, and defense customers, which makes it harder for rivals to displace them once their systems are designed into an aircraft. Its broad product range allows it to act as an integrated solutions provider rather than a single‑product vendor, which can deepen customer reliance and increase switching costs. At the same time, it competes against much larger aerospace suppliers, so maintaining this edge depends heavily on continuing to offer tailored, high‑reliability solutions and responsive service.

Innovation and R&D

Innovation and R&D Innovation is a clear pillar of Astronics’ strategy. The company has pioneered in‑seat power systems, advanced LED cabin lighting, and specialized power management solutions that support emerging electric and next‑generation aircraft. Its test systems business provides complex automated testing tools for aviation and defense electronics, further embedding the company across the aircraft lifecycle. A steady pattern of R&D investment, patents, and targeted acquisitions has broadened its technology base. Looking ahead, Astronics is positioning itself in growth areas like electric vertical takeoff and landing aircraft, advanced in‑flight connectivity, and more sophisticated test equipment, which could provide new avenues for expansion if these markets develop as expected.

Summary

Astronics shows a story of gradual recovery: sales are growing, operating performance is improving, and cash flow has shifted from a drag to a support. The company is not yet consistently profitable, and its financial cushion is moderate rather than ample, so execution risk remains important. Its strength lies in specialized aerospace technologies, long‑term customer relationships, and a culture of innovation that has produced several widely adopted products. Future growth opportunities around electric and sustainable aviation, enhanced passenger experience, and advanced testing are promising, but they also come with technological and program‑timing uncertainties. Overall, Astronics appears to be moving in the right direction operationally, with a business model that is tightly tied to the health and technological evolution of the aerospace and defense sectors.

NEWS

November 4, 2025 · 4:15 PM UTC

Astronics Corporation Reports 2025 Third Quarter Financial Results

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October 22, 2025 · 4:15 PM UTC

Astronics Corporation Announces New $300 Million Revolving Credit Facility

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October 21, 2025 · 4:15 PM UTC

Astronics Corporation Announces Third Quarter 2025 Financial Results Conference Call and Webcast

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October 13, 2025 · 6:00 AM UTC

Astronics Corporation Announces Acquisition of Bühler Motor Aviation

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September 16, 2025 · 4:10 PM UTC

Astronics Corporation Announces Closing of $225 Million of 0% Convertible Notes Offering

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