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ATS

ATS Corporation

ATS

ATS Corporation • NYSE
$25.51 ▼ -0.43% (-0.11)
Market Cap $2.50 B
52w High $33.13
52w Low $20.90
Dividend Yield 0%
P/E -637.75
Volume 57.11K
Outstanding Shares 97.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $728.456M ▼ $143.645M ▼ $33.679M ▲ 4.623% ▲ $0.34 ▲ $104.826M ▲
Q1-2026 $736.72M ▲ $162.067M ▼ $24.117M ▲ 3.274% ▲ $0.25 ▲ $95.233M ▲
Q4-2025 $574.244M ▼ $175.383M ▲ $-68.858M ▼ -11.991% ▼ $-0.71 ▼ $-74.814M ▼
Q3-2025 $651.993M ▲ $164.85M ▲ $6.414M ▲ 0.984% ▲ $0.066 ▲ $75.356M ▲
Q2-2025 $612.781M $158.104M $-887K -0.145% $-0.009 $62.082M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $263.152M ▲ $4.666B ▲ $2.91B ▲ $1.752B ▲
Q1-2026 $188.609M ▼ $4.409B ▼ $2.7B ▼ $1.707B ▲
Q4-2025 $225.947M ▼ $4.622B ▼ $2.913B ▲ $1.706B ▼
Q3-2025 $263.152M ▲ $4.666B ▲ $2.91B ▲ $1.752B ▲
Q2-2025 $246.937M $4.431B $2.743B $1.684B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $33.679M ▲ $28.491M ▼ $-18.341M ▼ $-2.71M ▲ $8.703M ▲ $20.356M ▼
Q1-2026 $24.266M ▲ $155.782M ▲ $-16.243M ▲ $-176.953M ▼ $-37.338M ▼ $139.448M ▲
Q4-2025 $-68.891M ▼ $39.326M ▼ $-24.49M ▲ $-54.368M ▼ $-37.205M ▼ $10.439M ▼
Q3-2025 $6.414M ▲ $66.684M ▲ $-30.332M ▲ $-21.656M ▼ $16.215M ▼ $50.277M ▲
Q2-2025 $-919K $-44.841M $-198.222M $301.108M $61.851M $-52.945M

Five-Year Company Overview

Income Statement

Income Statement ATS has grown its revenue meaningfully over the last several years, but the most recent year shows a step back in sales and a swing from profit to a small loss. Gross profit has generally trended higher with scale, suggesting the core solutions retain value, but overall margins remain fairly thin for a technology‑driven business. Operating income and EBITDA improved for several years, then weakened recently, which points to either softer demand, higher costs, or integration and investment spending weighing on results. The pattern is one of solid multi‑year growth, but with more earnings volatility emerging most recently and limited room for error in profitability.

Balance Sheet

Balance Sheet The balance sheet has expanded steadily, reflecting acquisitions and organic growth, but it is now much more leveraged than a few years ago. Total assets and equity have both risen, yet debt has grown faster than equity, increasing financial risk and sensitivity to interest costs. Cash on hand is modest relative to the size of the business, so ATS is more reliant on ongoing cash generation and access to funding. Overall, the company now carries a larger balance sheet and a heavier debt load, which amplifies both upside from growth and downside if results disappoint.

Cash Flow

Cash Flow ATS has consistently generated positive cash from operations, but the level of cash generation has not kept pace with the growth in the business and has softened in the most recent years. Free cash flow turned negative recently as the company increased its capital spending while operating cash stayed relatively subdued. This pattern suggests a business that is investing aggressively in facilities, technology, and growth, but accepting near‑term pressure on cash. It also means less internal flexibility if projects are delayed, margins compress, or working capital swings unfavorably, which is common in large, project‑based industrial businesses.

Competitive Edge

Competitive Edge ATS occupies a strong niche in complex industrial automation, particularly in life sciences, energy, and other demanding sectors where reliability, regulation, and customization matter. Its proprietary platforms in conveyance, high‑speed assembly, vision, and manufacturing intelligence create differentiation that pure integrators or smaller rivals may struggle to match. A long history of installed systems, deep process know‑how, and global support capabilities contribute to high switching costs and recurring work from large customers. At the same time, the company operates in a global market with powerful automation players and is exposed to swings in capital spending cycles and project risk, so competitive advantages are real but must be actively maintained.

Innovation and R&D

Innovation and R&D Innovation is clearly a core pillar for ATS. The company has developed several named technology platforms that blend hardware, software, and data analytics, and it is pushing further into AI‑ and IoT‑enabled “smart factory” solutions. Management’s intention to devote a sizable share of revenue to research and development underlines a long‑term focus on technology leadership, though it can weigh on near‑term margins. Strategic priorities like GLP‑1 drug delivery systems, nuclear automation, and sustainable packaging tie its R&D agenda to structural growth themes rather than short‑term trends. The combination of internal innovation hubs and bolt‑on acquisitions should keep its offering fresh, but it also raises execution risk: ATS needs to turn these investments into scalable, repeatable solutions rather than one‑off projects.

Summary

ATS shows the profile of a scaled, technology‑rich industrial automation company: strong multi‑year growth, recognizable proprietary platforms, and entrenched relationships in regulated, high‑value markets. Financially, the story is more mixed in the near term: revenue has pulled back after a strong run, profitability has become more volatile, and free cash flow has turned negative as the company leans into investment. The balance sheet can support this strategy for now but is more leveraged and less cushioned by cash than in the past, making consistent execution more important. Over time, ATS’s prospects will hinge on its ability to convert its innovation pipeline and installed base into more stable, higher‑margin, and more recurring revenue streams, while keeping debt, project risk, and cash flow volatility under control.

NEWS

November 24, 2025 · 5:00 PM UTC

ATS to Participate in the Goldman Sachs Industrials and Materials Conference

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November 6, 2025 · 5:00 PM UTC

ATS to Participate in the Scotiabank Transportation & Industrials Conference

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November 5, 2025 · 6:00 AM UTC

ATS Reports Second Quarter Fiscal 2026 Results

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October 30, 2025 · 5:00 PM UTC

ATS to Participate in the Baird 2025 Global Industrial Conference

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October 27, 2025 · 5:00 PM UTC

ATS to Host Second Quarter Earnings Call Wednesday November 5, 2025, at 8:30 a.m. Eastern

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