Astronics (ATRO) financial statements
Astronics reported revenue of $862M in fiscal 2025, up 3.5% a year over 9 years.
Net income was $29M and the operating margin 8.9%, against 11.8% in 2016.
Free cash flow was $43M.
The diluted share count rose 6% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Astronics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $633M | $624M | $803M | $773M | $503M | $445M | $535M | $689M | $795M | $862M |
| Cost of revenue | $474M | $487M | $623M | $617M | $406M | $380M | $463M | $515M | $575M | $604M |
| Gross profit | $159M | $137M | $181M | $156M | $97M | $65M | $72M | $175M | $220M | $258M |
| Research and development | $89M | $95M | $114M | $109M | $40M | $43M | $48M | $54M | $52M | $43M |
| Selling, general and admin | $85M | $89M | $117M | $143M | $111M | $99M | $102M | $127M | $142M | $138M |
| Operating income | $75M | $32M | $64M | $2M | -$101M | -$29M | -$30M | -$7M | $26M | $76M |
| Pre-tax income | $69M | $25M | $52M | $68M | -$112M | -$27M | -$30M | -$26M | -$8M | $32M |
| Income tax | $20M | $5M | $5M | $16M | $3M | -$1M | $6M | $110,000 | $8M | $3M |
| Net income | $48M | $20M | $47M | $52M | -$116M | -$26M | -$36M | -$26M | -$16M | $29M |
| EPS (diluted) | $1.40 | $0.58 | $1.41 | $1.60 | -$3.76 | -$0.82 | -$1.11 | -$0.80 | -$0.46 | $0.81 |
| Diluted shares | 35M | 34M | 33M | 32M | 31M | 31M | 32M | 33M | 35M | 36M |
| Gross margin | 25.2% | 22.0% | 22.5% | 20.2% | 19.3% | 14.7% | 13.4% | 25.3% | 27.7% | 29.9% |
| Operating margin | 11.8% | 5.1% | 7.9% | 0.2% | -20.0% | -6.4% | -5.6% | -1.0% | 3.3% | 8.9% |
| Net margin | 7.6% | 3.2% | 5.8% | 6.7% | -23.0% | -5.7% | -6.7% | -3.8% | -2.0% | 3.4% |
Balance sheet
Fiscal years, from Astronics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $18M | $18M | $17M | $32M | $40M | $30M | $14M | $5M | $9M | $18M |
| Receivables | $109M | $133M | $182M | $148M | $93M | $107M | $148M | $172M | $191M | $205M |
| Inventory | $117M | $150M | $139M | $146M | $157M | $158M | $188M | $192M | $200M | $197M |
| Total current assets | $255M | $315M | $374M | $343M | $317M | $340M | $365M | $390M | $426M | $438M |
| Property, plant and equipment | $123M | $126M | $121M | $112M | $107M | $95M | $91M | $85M | $81M | $107M |
| Goodwill | $115M | $126M | $125M | $145M | $58M | $58M | $58M | $58M | $58M | $63M |
| Total assets | $604M | $736M | $775M | $783M | $620M | $609M | $615M | $634M | $649M | $707M |
| Total current liabilities | $87M | $103M | $128M | $121M | $94M | $119M | $152M | $143M | $156M | $141M |
| Long-term debt | $145M | $269M | $232M | $188M | $173M | $163M | $160M | $159M | $169M | $334M |
| Total liabilities | $267M | $406M | $388M | $394M | $349M | $353M | $375M | $384M | $393M | $567M |
| Shareholders' equity | $337M | $330M | $387M | $389M | $270M | $257M | $240M | $250M | $256M | $140M |
| Net debt | $130M | $254M | $217M | $156M | $133M | $133M | $150M | $163M | $159M | $316M |
Cash flow
Fiscal years, from Astronics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $49M | $38M | $55M | $43M | $37M | -$6M | -$28M | -$24M | $31M | $75M |
| Capital spending | $13M | $13M | $16M | $12M | $7M | $6M | $8M | $8M | $8M | $32M |
| Free cash flow | $36M | $24M | $39M | $31M | $30M | -$12M | -$36M | -$32M | $22M | $43M |
| Stock-based compensation | $2M | $3M | $3M | $4M | $5M | $6M | $6M | $7M | $9M | $7M |
| Share buybacks (net) | -$18M | -$32M | $0 | -$51M | -$8M | $0 | $0 | — | — | — |
| Net borrowing | -$22M | $123M | -$38M | -$39M | -$15M | -$10M | $1M | $8M | $3M | -$111M |
| Free cash flow margin | 5.7% | 3.9% | 4.8% | 4.0% | 5.9% | -2.6% | -6.7% | -4.6% | 2.8% | 5.0% |
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Open ATRO in InvestinglyQuestions
What was Astronics's revenue in 2025?
$862M in fiscal 2025, from its 10-K filing.
How much free cash flow does Astronics generate?
$43M in fiscal 2025 (operating cash flow minus capital spending).
From Astronics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.