ATRO

MKT CAP:$3B

Astronics Corporation

Market Cap

$3B

Industrials·Aerospace & Defense·🇺🇸 United States·NASDAQ

Industrials·Aerospace·🇺🇸·NASDAQ

Stock Price

$72.83+$16.22 (+28.65%)

Apr 23, 2026

Company Details

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. It oper...

CEO

Peter J. Gundermann

IPO Date

Mar 17, 1980

Website

www.astronics.com

Key Metrics TTM

Revenue

$862M

+8.4% YoY

Net Income

$29M

EPS (Diluted)

$0.77

Free Cash Flow

$44M

Revenue / Share

$22.40

Gross Margin

29.9%

Operating Margin

8.9%

Net Margin

3.4%

FCF Margin

5.1%

P/S

3.0x

P/E

88.3x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 26, 2026

$862M+8.4%EPS $0.81

Q4 2025

Feb 26, 2026

$240M+15.1%EPS $0.78

Q3 2025

Nov 6, 2025

$211M+3.8%EPS -$0.31

Q2 2025

Aug 7, 2025

$205M+3.3%EPS $0.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$116M	$18M	-$9M
Q1 22	$116M	$20M	-$4M
Q2 22	$129M	$16M	-$8M
Q3 22	$131M	$14M	-$14M
Q4 22	$158M	$22M	-$3M
Q1 23	$157M	$28M	-$2M
Q2 23	$174M	$33M	$2M
Q4 23	$195M	$40M	$8M
Q1 24	$185M	$48M	$2M
Q2 24	$198M	$56M	$8M
Q3 24	$204M	$43M	$8M
Q4 24	$209M	$50M	$9M
Q1 25	$206M	$61M	$13M
Q2 25	$205M	$53M	$5M
Q3 25	$211M	$65M	$23M
Q4 25	$240M	$80M	$35M

Valuation

Quarter	P/S	P/E
Q4 21	5.8x	—
Q1 22	5.7x	—
Q2 22	5.5x	—
Q3 22	5.3x	—
Q4 22	4.8x	—
Q1 23	4.5x	—
Q2 23	4.2x	—
Q4 23	3.8x	—
Q1 24	3.6x	—
Q2 24	3.4x	—
Q3 24	3.3x	—
Q4 24	3.3x	—
Q1 25	3.2x	—
Q2 25	3.2x	—
Q3 25	3.1x	—
Q4 25	3.0x	88.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$13M	$12M
Q1 22	$316.0K	-$844.0K
Q2 22	-$11M	-$12M
Q3 22	-$29M	-$31M
Q4 22	$11M	$7M
Q1 23	-$19M	-$21M
Q2 23	-$2M	-$4M
Q4 23	-$2M	-$3M
Q1 24	$2M	$439.0K
Q2 24	-$6M	-$8M
Q3 24	$8M	$7M
Q4 24	$26M	$23M
Q1 25	$21M	$19M
Q2 25	-$8M	-$12M
Q3 25	$35M	$22M
Q4 25	$28M	$16M

Capital Expenditures

Quarter	CapEx
Q4 21	$1M
Q1 22	$1M
Q2 22	$1M
Q3 22	$2M
Q4 22	$3M
Q1 23	$2M
Q2 23	$2M
Q4 23	$2M
Q1 24	$2M
Q2 24	$2M
Q3 24	$2M
Q4 24	$3M
Q1 25	$2M
Q2 25	$5M
Q3 25	$13M
Q4 25	$12M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+1.1%	+3.8%
Q1 22	+9.7%	+4.3%
Q2 22	+16.2%	+17.5%
Q3 22	+17.5%	+25.3%
Q4 22	+36.3%	+29.3%
Q1 23	+34.7%	+32.0%
Q2 23	+35.1%	+25.1%
Q4 23	+48.6%	+28.7%
Q1 24	+17.0%	+13.7%
Q2 24	+26.6%	+19.9%
Q3 24	+16.8%	+13.5%
Q4 24	+6.8%	+6.5%
Q1 25	+11.3%	+5.1%
Q2 25	+3.3%	+4.9%
Q3 25	+3.8%	-3.5%
Q4 25	+15.1%	+2.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$1M	1.1%
Q1 22	$2M	1.8%
Q2 22	$2M	1.3%
Q3 22	$3M	1.9%
Q4 22	$1M	0.8%
Q1 23	$2M	1.5%
Q2 23	$2M	0.9%
Q4 23	$6M	3.0%
Q1 24	$3M	1.5%
Q2 24	$2M	0.9%
Q3 24	$2M	0.9%
Q4 24	$2M	1.0%
Q1 25	$2M	1.1%
Q2 25	$2M	0.8%
Q3 25	$0	0.0%
Q4 25	$1M	0.6%

OpEx Breakdown

Quarter	R&D	SG&A
Q4 21	—	$32M
Q1 22	—	$24M
Q2 22	—	$24M
Q3 22	—	$29M
Q4 22	—	$25M
Q1 23	—	$30M
Q2 23	—	$30M
Q4 23	—	$32M
Q1 24	$13M	$33M
Q2 24	$14M	$34M
Q3 24	—	$34M
Q4 24	—	$41M
Q1 25	$11M	$37M
Q2 25	$12M	$36M
Q3 25	$10M	$31M
Q4 25	$11M	$34M

Revenue Segments

Quarter	Aerospace Segment	Test Systems Segment
Q4 22	$138M	$20M
Q1 24	$164M	$21M
Q2 24	$177M	$21M
Q3 24	$178M	$26M
Q4 24	$188M	$20M
Q1 25	$191M	$15M
Q2 25	$194M	$11M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$24M	$0	$24M
Q2 22	$11M	$0	$11M
Q3 22	$3M	$0	$3M
Q4 22	$14M	$0	$14M
Q1 23	$6M	$0	$6M
Q2 23	$4M	$0	$4M
Q3 23	$8M	$0	$8M
Q4 23	$11M	$0	$11M
Q1 24	$7M	$0	$7M
Q2 24	$4M	$0	$4M
Q3 24	$6M	$0	$6M
Q4 24	$9M	$0	$9M
Q1 25	$25M	$0	$25M
Q2 25	$13M	$0	$13M
Q3 25	$13M	$0	$13M
Q4 25	$18M	$0	$18M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	32M	+3.6%	+4.0%
Q1 22	32M	-0.5%	+3.3%
Q2 22	32M	+1.4%	+4.0%
Q3 22	32M	-0.4%	+4.2%
Q4 22	32M	+0.5%	+1.0%
Q1 23	33M	+0.3%	+1.8%
Q2 23	33M	+0.3%	+0.7%
Q4 23	35M	+6.9%	+8.2%
Q1 24	35M	-0.0%	+7.6%
Q2 24	38M	+9.9%	+17.9%
Q3 24	35M	-8.6%	+7.3%
Q4 24	35M	+1.1%	+1.5%
Q1 25	43M	+21.3%	+23.2%
Q2 25	36M	-15.3%	-5.1%
Q3 25	35M	-2.6%	+1.2%
Q4 25	38M	+8.6%	+8.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$55.3K	2K
Q1 22	$55.3K	2K
Q2 22	$61.5K	2K
Q3 22	$62.6K	2K
Q4 22	$65.9K	2K
Q1 23	$65.2K	2K
Q2 23	$72.7K	2K
Q4 23	$78.1K	3K
Q1 24	$74.0K	3K
Q2 24	$79.2K	3K
Q3 24	$81.5K	3K
Q4 24	$83.4K	3K
Q1 25	$82.4K	3K
Q2 25	$81.9K	3K
Q3 25	$84.6K	3K
Q4 25	$88.9K	3K

Revenue / Employee