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HWM

Howmet Aerospace Inc.

HWM

Howmet Aerospace Inc. • NYSE
$204.59 ▼ -0.02% (-0.04)
Market Cap $82.35 B
52w High $211.95
52w Low $105.04
Dividend Yield 0.44%
P/E 57.47
Volume 688.61K
Outstanding Shares 402.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.089B ▲ $110M ▲ $385M ▼ 18.43% ▼ $0.96 ▼ $604M ▲
Q2-2025 $2.053B ▲ $98M ▲ $407M ▲ 19.825% ▲ $1.01 ▲ $576M ▲
Q1-2025 $1.942B ▲ $93M ▲ $344M ▲ 17.714% ▲ $0.85 ▲ $554M ▲
Q4-2024 $1.891B ▲ $84M ▼ $314M ▼ 16.605% ▼ $0.77 ▼ $505M ▲
Q3-2024 $1.835B $94M $332M 18.093% $0.81 $466M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $659M ▲ $11.177B ▲ $6.034B ▲ $5.143B ▲
Q2-2025 $545M ▲ $11.046B ▲ $6.004B ▲ $5.042B ▲
Q1-2025 $536M ▼ $10.772B ▲ $5.98B ▲ $4.792B ▲
Q4-2024 $564M ▲ $10.519B ▼ $5.965B ▼ $4.554B ▲
Q3-2024 $475M $10.558B $6.055B $4.503B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $385M ▼ $531M ▲ $-104M ▼ $-314M ▲ $114M ▲ $202M ▼
Q2-2025 $407M ▲ $446M ▲ $-97M ▲ $-339M ▼ $9M ▲ $344M ▲
Q1-2025 $344M ▲ $253M ▼ $-115M ▼ $-167M ▲ $-28M ▼ $134M ▼
Q4-2024 $314M ▼ $480M ▲ $-107M ▼ $-284M ▲ $90M ▲ $378M ▲
Q3-2024 $332M $244M $-80M $-441M $-277M $162M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Engine Products Segment
Engine Products Segment
 $970.00M ▲$1.00Bn ▲$1.06Bn ▲$1.11Bn ▲
Fastening Systems
Fastening Systems
 $400.00M ▲$410.00M ▲$430.00M ▲$450.00M ▲
Structure Systems
Structure Systems
 $280.00M ▲$280.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Howmet’s income statement shows a clear recovery and then strong growth from the pandemic trough. Sales have risen each year recently, and profits have grown even faster than revenue, which suggests better pricing, mix, and cost control. Margins from gross profit down through operating income have steadily widened, indicating a more efficient, higher‑value business. Earnings per share have climbed severalfold over the period, showing the business has become meaningfully more profitable, though this pace is unlikely to be linear forever and still depends heavily on aerospace cycles.

Balance Sheet

Balance Sheet The balance sheet looks steadily stronger and cleaner over time. Total assets have stayed broadly stable, while debt has been paid down meaningfully, reducing financial risk. Shareholders’ equity has grown, reflecting accumulated profits and a thicker capital cushion. Cash balances are lower than a few years ago but still look reasonable in light of reduced debt; overall, leverage has moved in a healthier direction, giving the company more resilience if industry conditions weaken.

Cash Flow

Cash Flow Cash generation has improved markedly, shifting from almost break‑even cash flow a few years ago to solid, recurring operating cash today. Free cash flow has moved from negative to comfortably positive, indicating the business now generates excess cash even after routine investment. Capital spending has been steady and manageable, suggesting Howmet can support its technology and capacity needs without straining its finances. The trend points to a business that is increasingly self‑funding and less reliant on external financing, though this remains sensitive to aircraft build rates and customer demand.

Competitive Edge

Competitive Edge Howmet occupies a critical, hard‑to‑replace role in jet engines, aerospace fasteners, advanced structures, and forged truck wheels. Its deep materials expertise, large patent portfolio, and long certification cycles for aerospace parts together create high barriers for new entrants and make it difficult for existing customers to switch. Close, co‑design relationships with major engine and aircraft makers further embed Howmet into long‑lived platforms, often lasting decades. At the same time, reliance on a relatively small set of powerful customers and on aerospace production volumes introduces concentration and cyclical risk that investors should keep in mind.

Innovation and R&D

Innovation and R&D Innovation is a central strength: Howmet is a leader in advanced alloys, complex castings, thermal coatings, and next‑generation manufacturing methods like hybrid 3D printing plus forging. Its patented processes for turbine airfoils and titanium additive manufacturing are tightly aligned with customers’ needs for hotter, more efficient engines and lighter airframes. The company is also pushing into digital tools and AI for quality control and operations, and extending its turbine expertise into industrial power uses such as data‑center‑driven gas turbines. This innovation agenda positions Howmet well for trends like sustainable aviation and fuel efficiency, though payoffs can be long‑dated and depend on successful adoption by major OEMs.

Summary

Overall, Howmet today looks like a structurally stronger and more profitable company than it was five years ago, with healthier margins, better cash generation, and a cleaner balance sheet. Its competitive moat is reinforced by technical depth, intellectual property, and long‑term integration with key aerospace and transportation customers. The main opportunities center on continued air traffic recovery, next‑generation aircraft and engine programs, industrial gas turbines, and sustainability‑driven lightweighting. Key risks include aerospace and truck production cycles, customer concentration, execution on complex manufacturing ramps, and the need to keep innovating as engine and materials technologies evolve.

NEWS

November 3, 2025 · 4:10 PM UTC

Howmet Aerospace Inc. Announces Pricing of Debt Offering

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October 30, 2025 · 7:00 AM UTC

Howmet Aerospace Reports Third Quarter 2025 Results

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October 22, 2025 · 4:15 PM UTC

Howmet Aerospace Announces Executive Leadership Changes

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October 1, 2025 · 8:00 AM UTC

Howmet Aerospace to Host Webcast and Announce Third Quarter 2025 Results

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September 30, 2025 · 4:00 PM UTC

Howmet Aerospace Board Approves Common Stock Dividend

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