Astronics Corp

Industrials
Military/Government/Technical
www.astronics.com

Earnings Score
Moat Score
Safety Score

Market Cap $559.73M
PE -87
Debt $178.97M
Cash $6.36M
EV $732.33M
FCF -$4.38M

Earnings

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Sales & Net Margins

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Earnings	-$6.41M
EBIT	$25.37M
ROE	-3%
ROA	4%
FCF	-$4.38M
Equity	$249.20M
Growth Stability	-293%
PE	-87.36
PB	2.25
P/FCF	-127.94
P/S	0.72
Price/Cash	0.01
Debt/Equity	0.72
Debt/FCF	-40.91
Net Margins	-2%
Gross Margins	20%
Op. Margins	3%
Earnings CAGR	0%
Sales Growth YoY	25%
Sales Growth QoQ	3%
Sales CAGR	1%
FCF CAGR	-1%
Equity CAGR	-3%
Earnings Stability	0
Earnings Growth YoY	-31%

Earnings Growth QoQ	-866%
Sales CAGR 5Y	4%
FCF CAGR 5Y	-2%
Equity CAGR 5Y	-6%
Earnings CAGR 3Y	25%
Sales CAGR 3Y	25%
Equity CAGR 3Y	-0%
Market Cap	$559.73M
Revenue	$782.18M
Assets	$651.60M
Total Debt	$178.97M
Cash	$6.36M
Shares Outstanding	34.96M
EV	732.33M
Earnings Score	6%
Moat Score	24%
Safety Score	38%
Final Score	23%
Working Capital	274.15M
Current Ratio	2.83
Gross Profit	$158.26M
Shares Growth 3y	4%
Equity Growth QoQ	-3%
Equity Growth YoY	7%

Assets & ROA

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Stockholders Equity & ROE

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Astronics Corp supplies products to the aerospace, defense, and other industries. The company has two reportable segments namely Aerospace and Test Systems. The aerospace segment serves three primary markets: military, commercial transport and business jet markets. Test Systems segment serves the aerospace, defense, and semiconductor markets. The company generates a majority of its revenue from the Aerospace segment. Geographically, it generates a majority of its revenue from the United States.

SEC Filings

Direct access to Astronics Corp (ATRO) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 28
- 10-Q Jun 29
- 10-Q Mar 30
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jul 01
- 10-Q Apr 01
2022
- 10-K Dec 31
- 10-Q Oct 01
- 10-Q Jul 02
- 10-Q Apr 02

Sector Comparison

How does Astronics Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Astronics Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 0%

Stability 0%

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Astronics Corp Discounted Cash Flow

Fully customizable DCF calculator online for Astronics Corp.

Years

Calculation mode

= -$40M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$4.4M	-$4.3M	-$4.2M	-$4.2M	-$4.1M	-$4.1M	-$4M	-$3.9M	-$3.9M	-$3.8M	-$3.8M	-$38M
DCF		-$3.9M	-$3.5M	-$3.1M	-$2.8M	-$2.5M	-$2.3M	-$2M	-$1.8M	-$1.6M	-$1.5M	-$15M
Value	-$40M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	8%	10%	8%	3%	6%	7%	-23%	-6%	-7%	-4%	-2%
ROA	-	16%	12%	4%	8%	9%	-16%	-4%	-5%	-1%	4%
ROE	-	22%	14%	6%	12%	13%	-43%	-10%	-15%	-11%	-3%

Bad Net Margins (-2.28%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	2.88	4.21	11.29	6.12	6.16	5.79	-14.1	-4.56	-5.33	-40.91
Debt over Equity	0.81	0.57	0.45	0.83	0.61	0.48	0.64	0.64	0.68	0.67	0.72
Growth Stability	-	-	-	34%	100%	100%	-293%	-	-	-	-293%

Good Debt/FCF ratio (-40.91)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.72)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-293%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	5%	-9%	-1%	29%	-4%	-35%	-11%	20%	29%	4%
Earnings YoY growth	-	19%	-28%	-59%	138%	11%	-323%	-78%	40%	-26%	-
Equity YoY growth	-	32%	12%	-2%	17%	1%	-30%	-5%	-7%	4%	-6%
FCF YoY growth	-	1%	-40%	-32%	59%	-21%	-2%	-139%	211%	-12%	-2%