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SPR

Spirit AeroSystems Holdings, Inc.

SPR

Spirit AeroSystems Holdings, Inc. • NYSE
$36.73 ▲ 1.66% (+0.60)
Market Cap $4.31 B
52w High $42.33
52w Low $27.00
Dividend Yield 0%
P/E -1.66
Volume 597.08K
Outstanding Shares 117.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.585B ▼ $49.8M ▼ $-724.3M ▼ -45.686% ▼ $-6.159 ▼ $-574.8M ▼
Q2-2025 $1.635B ▲ $249.4M ▲ $-631M ▼ -38.591% ▲ $-5.36 ▼ $-442.7M ▼
Q1-2025 $1.522B ▼ $25.9M ▼ $-612.9M ▲ -40.275% ▼ $-5.21 ▲ $-438.1M ▲
Q4-2024 $1.651B ▲ $119.7M ▲ $-630.9M ▼ -38.206% ▼ $-5.38 ▼ $-476.3M ▼
Q3-2024 $1.471B $104.1M $-476.9M -32.429% $-4.07 $-305.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $299M ▼ $6.105B ▼ $10.623B ▲ $-4.524B ▼
Q2-2025 $369.6M ▲ $6.238B ▼ $10.028B ▲ $-3.796B ▼
Q1-2025 $228.2M ▼ $6.478B ▼ $9.671B ▲ $-3.199B ▼
Q4-2024 $537M ▲ $6.763B ▼ $9.379B ▲ $-2.622B ▼
Q3-2024 $217.6M $7.049B $8.986B $-1.941B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-724.3M ▼ $-187.2M ▼ $-31.3M ▲ $164.4M ▼ $-54.5M ▼ $-229.7M ▼
Q2-2025 $-630.8M ▼ $-143.7M ▲ $-41.5M ▼ $342.7M ▲ $155.6M ▲ $-190.1M ▲
Q1-2025 $-612.7M ▲ $-419.5M ▼ $107.9M ▲ $-1.1M ▼ $-313.2M ▼ $-474.2M ▼
Q4-2024 $-630.7M ▼ $136.6M ▲ $-45.7M ▲ $229.7M ▼ $319.7M ▲ $90.9M ▲
Q3-2024 $-476.9M $-276.4M $-46.4M $335.9M $12.7M $-322.9M

Revenue by Products

Product Q2-2024Q3-2024Q1-2025Q2-2025
Aftermarket Segment
Aftermarket Segment
 $100.00M ▲$100.00M ▲$100.00M ▲$100.00M ▲
Commercial Segment
Commercial Segment
 $1.17Bn ▲$1.14Bn ▼$1.16Bn ▲$1.27Bn ▲
Defense Space Segment
Defense Space Segment
 $220.00M ▲$230.00M ▲$260.00M ▲$270.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Sales have steadily recovered over the last few years as global air travel and aircraft production have come back, but profitability has not followed the same path. The company has remained loss‑making throughout the period, with only brief, modest improvement before a sharp step‑down most recently. Costs, quality issues, and program pressures appear to be absorbing the benefit of higher volumes, leading to weak margins and sizeable net losses. Overall, the story is one of growing activity but an income statement still dominated by red ink and volatility rather than stable earnings.

Balance Sheet

Balance Sheet The balance sheet shows a business that has leaned heavily on borrowing to get through a difficult period. Debt has climbed while cash has trended down from earlier, stronger levels, leaving the company more financially stretched. Shareholders’ equity has turned clearly negative, meaning total obligations now exceed the reported value of assets. This does not automatically imply near‑term distress, but it does underline a fragile financial position that depends on supportive lenders, customers, and potentially strategic transactions.

Cash Flow

Cash Flow Cash generation has been consistently weak, with the core business using cash rather than producing it in every year shown. Investment spending on equipment and facilities has been relatively modest and stable, so the cash burn is mainly coming from operations, not from large new projects. Free cash flow has stayed negative, implying ongoing reliance on external funding to support working capital and losses. Until operating cash flows turn reliably positive, liquidity and funding access remain key points of attention.

Competitive Edge

Competitive Edge Spirit occupies a critical niche as a major independent maker of large aerostructures, deeply embedded in programs at Boeing and Airbus. Its scale, engineering depth, and long‑term contracts create real barriers for new entrants and make it hard for customers to switch suppliers quickly. At the same time, the company is heavily exposed to a very small number of powerful customers, especially Boeing, which can exert pressure on pricing, volumes, and quality standards. Efforts to grow defense and aftermarket work help broaden the base, but the core risk–reward profile still centers on commercial narrow‑body programs and the outcome of the proposed Boeing transaction.

Innovation and R&D

Innovation and R&D Spirit’s strengths lie in process and materials innovation rather than in headline research spending. It has built strong capabilities in advanced composites, large complex structures, and digital, automated manufacturing, which can reduce weight and cost for its customers. The company is also exploring faster, high‑rate composite production and embedding sensors in structures to enable “smart” components and predictive maintenance. The main tension is between the need to invest for the next generation of aircraft and the financial constraints created by current losses and leverage; how well it manages that balance will be important for its long‑term role in the supply chain.

Summary

Spirit AeroSystems is a strategically important aerospace supplier with deep technical expertise and entrenched positions on key aircraft, but its financial profile is currently strained. Revenues have recovered with the industry, yet profitability, cash flow, and the balance sheet remain weak, reflecting operational challenges and heavy dependence on a few core programs. High debt, negative equity, and persistent cash burn increase sensitivity to production disruptions, contract changes, and interest costs. On the other hand, its manufacturing know‑how, composite capabilities, and potential integration with Boeing highlight why the business matters to the broader ecosystem. The company’s future trajectory hinges on stabilizing operations and cash flows while maintaining enough investment in innovation to stay indispensable to its main customers.

NEWS

October 31, 2025 · 4:15 PM UTC

Spirit AeroSystems Reports Third Quarter 2025 Results

Read more