— Know what they know.
/
Not Investment Advice

HWM

NYSE · USD
Howmet Aerospace Inc.
Industrials · Aerospace & Defense
CEO John C. Plant Employees 25,430 R&D / revenue 0.4%
Last price
$220.90+0.55%last session
Market cap
$88.1B
P/E (TTM)
47.3x
From 52w high
−28.7%
From 52w low
+17.8%
1-year return
+15.3%
RSI 14 · vs SMA200
39.1 · −11.4%
IS score
73.2/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

HWM   SPY   XLI (sector ETF) · weekly closes
100120140Jan 26Apr 26Jul 26Oct 26SPY 116HWM 115XLI 111

Score DNA

Each bar is a 0-100 score within the scored universe
80
Profitability
74
Growth
28
Value
94
Momentum
100
Risk (safety)
82
Quality
64
Balance sheet
81
Earnings quality

Flags

Strengths
None of the computed strength flags fires.
Warnings
None of the computed warning flags fires for HWM (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Cost AdvantagePiotroski 7 / 9Altman Z 10.6Beta 1.192 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
1 open-market sales, $11.3M
Form 144 notices (12m): 4, $48.5M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+137
234 new holders, 85 closed
1,615 filers hold 91.7% · 680 added, 491 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+261
1,252 funds adding shares
991 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
19.8%
20-day avg 30.0%, 50-day avg 32.2%
Latest 10.2 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$8.3B
Revenue growth YoY+11.1%
Gross margin30.7%
Operating income$2.1B
Operating margin25.8%
Net income$1.5B
Net margin18.3%
EPS (diluted)$3.71
Cash flow
Operating cash flow$1.9B
Capital expenditure$453.0M
Free cash flow$1.4B
FCF conversion (FCF / OCF)76.0%
Stock-based compensation$0
FCF less SBC$1.4B
Buybacks$755.0M
Dividends$181.0M
Balance sheet & returns
Cash & short-term investments$742.0M
Total debt$3.0B
Net debt$2.3B
Shareholders' equity$5.4B
Goodwill & intangibles$4.5B
Debt / equity0.79
ROE (TTM)34.4%
ROIC (TTM)18.6%
Operating margin by fiscal year
17.4%FY202118.3%FY202218.8%FY202322.4%FY202425.8%FY2025
Revenue $5.0B (FY2021) to $8.3B (FY2025), a 13.5% CAGR.

Valuation

P/E (TTM)47.3x
EV / EBITDA33.4x
Price / sales9.66x
Price / FCF56.1x
FCF yield1.78%
Buyback yield0.86%
SBC / revenue1.0%
Price / book15.42x
Forward P/E FY202641.4x
Forward P/E FY202733.9x
Forward P/E FY202828.8x
Forward multiples divide today's price by Street EPS estimates. Street mean target $336.13 across 8 analysts last quarter is theirs, not ours.

HWM vs industry median

197 companies in Aerospace & Defense
Gross margin 35.2% 22.1% Operating margin 28.3% 4.5% Net margin 20.5% 1.2% ROIC 18.6% 7.2%
HWM (TTM)Industry median Asset turnover 0.69 vs industry 0.57 · financial leverage 2.31

Earnings delivery

Next report 2026-10-29 · consensus EPS $1.37
92%
beat rate, 11 of 12 quarters
+7.4%
median EPS surprise
10
longest beat streak
+7+13+10+12+8+4+11+4+4+9-23+7
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-08-06. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
HWM Howmet Aerospace Inc. $88.1B47.3x34.4%20.5%+11.1% +15.3%
GD General Dynamics Corporation $93.1B20.7x17.8%8.2%+9.1% +4.1%
NOC Northrop Grumman Corporation $73.9B16.5x27.0%10.1%+5.9% −12.8%
TDG TransDigm Group Incorporated $63.0B34.6x-28.7%19.7%+16.6% −8.8%
LMT Lockheed Martin Corporation $127.4B20.3x89.2%9.2%+7.2% +12.7%
BA The Boeing Company $150.3B71.2x173.6%-1.8%+24.8% —
ERJ Embraer S.A. $47.4B56.7x9.4%5.7%+19.9% —
LHX L3Harris Technologies, Inc. $46.3B25.0x9.3%10.2%+7.3% —
12-month window: SPY +15.9%, sector ETF XLI +10.7%. Past returns describe history only.

Recent 8-K filings

2026-08-06Earnings Release; Exhibits
2026-05-28Other Events; Exhibits
2026-05-26Shareholder Vote
2026-05-07Earnings Release; Exhibits
2026-04-06Acquisition/Disposition
2026-04-06Regulation FD

Context

Shares outstanding398,801,399
Free float99.1%
Institutional ownership91.7%
Beta1.19
Dividend yield0.23%
Last dividend$0.14 on 2026-11-06
50 / 200-day average$247.09 / $249.32
Large-cap Industrials median P/E29.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where HWM sits among 56 scored companies in Aerospace & Defense (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureHWMIndustry medianIndustry percentileSector median
P/E (TTM) 47.1x 33.9x
72nd		 25.4x
PEG (P/E ÷ 3-yr EPS CAGR) 0.87 1.76
21st		 1.42
Price / sales 9.7x 4.3x
80th		 2.0x
Price / book 15.4x 3.6x
89th		 2.9x
Price / tangible book —
Price / free cash flow 56.1x 32.5x
89th		 20.8x
Price / operating cash flow 39.7x 29.1x
79th		 14.5x
Enterprise value $92.0B $6.6B
89th		 $4.8B
EV / sales 10.1x 4.1x
84th		 2.4x
EV / EBITDA 33.4x 20.6x
81st		 13.6x
EV / EBIT 37.6x 25.7x
79th		 19.9x
EV / free cash flow 58.6x 40.0x
89th		 24.3x
Earnings yield 2.1% 2.2%
49th		 3.3%
FCF yield 1.8% 2.0%
44th		 3.8%
Operating cash flow yield 2.5% 2.7%
44th		 6.2%
Graham number (per share) $38.64 $48.57
47th		 $38.21

Profitability (TTM)

MeasureHWMIndustry medianIndustry percentileSector median
Gross margin 35.2% 26.5%
72nd		 30.5%
EBITDA margin 30.2% 12.4%
92nd		 14.3%
Operating margin 28.3% 9.6%
98th		 9.8%
EBIT margin 26.9% 9.6%
94th		 9.9%
Net margin 20.5% 6.1%
98th		 6.0%
NOPAT margin 23.2% 7.9%
98th		 7.8%
FCF margin 17.2% 5.6%
92nd		 7.0%
Operating cash flow margin 24.4% 8.6%
98th		 11.2%
R&D / revenue 0.4% 1.8%
37th		 0.0%
SG&A / revenue 5.0% 13.7%
15th		 14.1%
Stock comp / revenue 1.0% 0.7%
63rd		 0.6%
Effective tax rate 18.0% 21.0%
36th		 21.0%

Returns on capital

MeasureHWMIndustry medianIndustry percentileSector median
ROE (on average equity) 34.7% 10.8%
90th		 11.9%
ROA 15.4% 4.5%
100th		 4.8%
ROIC 21.9% 8.1%
91st		 8.7%
ROCE 22.4% 8.8%
100th		 9.4%
Return on tangible assets 20.2% 6.7%
100th		 7.9%
Cash ROIC (OCF / invested capital) 22.9% 9.6%
83rd		 12.8%
Gross profitability (GP / assets) 23.7% 14.6%
82nd		 19.2%
ROIC, 3-yr average 15.3% 8.7%
95th		 7.8%
ROIC, 5-yr average 12.7% 8.3%
80th		 8.6%
ROE, 5-yr average 21.5% 9.5%
88th		 12.5%
Incremental ROIC 54.9% 27.1%
64th		 20.5%

Growth

MeasureHWMIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 18.1% 20.7%
45th		 8.6%
Revenue growth (QoQ) 10.1% 10.2%
49th		 9.9%
Revenue CAGR, 3 yr 13.7% 13.7%
50th		 5.0%
Revenue CAGR, 5 yr 13.8% 12.1%
58th		 8.3%
Gross profit CAGR, 3 yr 29.1% 13.8%
79th		 6.5%
Operating income CAGR, 3 yr 31.9% 21.0%
76th		 6.4%
Net income growth (TTM YoY) 33.9% 32.1%
53rd		 11.3%
Net income CAGR, 3 yr 52.1% 19.1%
90th		 6.6%
EPS growth (TTM YoY) 35.6% 31.8%
53rd		 13.3%
EPS CAGR, 3 yr 53.9% 18.5%
90th		 5.6%
EPS CAGR, 5 yr 47.0% 16.4%
88th		 8.3%
FCF growth (TTM YoY) 54.2% 34.1%
58th		 14.7%
FCF CAGR, 3 yr 39.4% 20.0%
86th		 12.2%
Operating cash flow CAGR, 3 yr 42.2% 22.9%
90th		 8.8%
Book value CAGR, 3 yr 16.4% 10.5%
66th		 7.3%
Dividend CAGR, 3 yr 10.5% 2.5%
90th		 2.7%
Sustainable growth rate 31.1% 11.5%
84th		 11.0%

Margin history & stability

MeasureHWMIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 29.9% 26.2%
63rd		 30.6%
Operating margin, 3-yr average 24.4% 9.0%
93rd		 10.0%
Net margin, 3-yr average 17.3% 6.3%
98th		 6.2%
FCF margin, 3-yr average 14.7% 6.0%
91st		 7.1%
Revenue stability (0-1) 0.98 0.91
96th		 0.81
Earnings stability (0-1) 0.93 0.56
92nd		 0.47
Margin stability (0-1) 0.81 0.88
34th		 0.90

Liquidity (latest quarter)

MeasureHWMIndustry medianIndustry percentileSector median
Cash & short-term investments $563.0M $337.2M
65th		 $249.6M
Net cash (− = net debt) −$3.9B −$747.7M
15th		 −$666.5M
Working capital $1.9B $878.9M
80th		 $376.4M
Current ratio 1.82 2.57
29th		 1.79
Quick ratio 0.87 1.57
9th		 1.33
Cash ratio (cash + ST investments / current liabilities) 0.24 0.34
40th		 0.32
Defensive interval (days) 1,050 days 960 days
56th		 614 days

Leverage & solvency (latest quarter)

MeasureHWMIndustry medianIndustry percentileSector median
Total debt $4.5B $917.3M
85th		 $919.8M
Debt / equity 0.79 0.52
66th		 0.65
Net debt / equity 0.69 0.34
74th		 0.46
Debt / assets 34.0% 24.3%
75th		 29.3%
Debt / capital 44.0% 34.0%
66th		 39.5%
Debt / EBITDA 1.64 2.38
31st		 2.44
Net debt / EBITDA 1.43 1.88
36th		 1.86
Interest coverage (EBIT / interest) 14.6x 5.1x
83rd		 5.0x
Cash interest coverage 13.2x 5.6x
81st		 6.1x
Debt payback (years of OCF) 2.0 yrs 3.1 yrs
31st		 3.2 yrs
Liabilities / assets 56.7% 52.4%
60th		 56.7%
IS credit model rating AA — —
Implied credit spread (bps) 80 175
13th		 200

Efficiency

MeasureHWMIndustry medianIndustry percentileSector median
Asset turnover 0.75 0.62
62nd		 0.75
Fixed asset turnover 3.24 5.00
31st		 5.14
Inventory turnover 2.9 3.6
32nd		 5.0
Receivables turnover 9.5 6.6
72nd		 6.7
Days sales outstanding 39 days 56 days
29th		 54 days
Days inventory outstanding 127 days 103 days
68th		 72 days
Days payables outstanding 66 days 39 days
82nd		 41 days
Cash conversion cycle (days) 99 days 104 days
49th		 63 days
Capex / revenue 7.1% 3.6%
75th		 3.0%
Capex / depreciation 2.15 1.14
80th		 0.76
Operating expense ratio 9.4% 16.0%
19th		 17.7%

Cash flow & earnings quality

MeasureHWMIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.19 1.31
46th		 1.50
FCF / net income 0.84 0.87
49th		 1.15
FCF / operating cash flow 70.7% 72.4%
42nd		 74.0%
Capex / operating cash flow 29.3% 27.6%
58th		 26.1%
Accruals ratio -2.9% -2.8%
44th		 -4.0%
Sloan accruals ratio -4.2% -0.3%
33rd		 -2.4%
Earnings quality score (0-1) 1.00 1.00
49th		 1.00

Dividends & buybacks

MeasureHWMIndustry medianIndustry percentileSector median
Dividend yield 0.2% 0.0%
60th		 0.6%
Dividend per share (TTM) $0.50 $0.00
65th		 $0.44
Payout ratio (dividends / net income) 10.4% 13.6%
44th		 22.5%
Dividends / FCF 12.4% 15.3%
42nd		 19.6%
Dividend growth (YoY) 31.6% 8.9%
90th		 5.6%
Buyback yield 1.2% 0.0%
76th		 0.5%
Shareholder yield (dividends + buybacks) 1.4% 0.7%
65th		 2.0%
Share count change (YoY) -1.2% 0.9%
10th		 0.0%
Buybacks, last 5 years $4.0B $14.0M
89th		 $76.0M

Scores & forensic checks

MeasureHWMIndustry medianIndustry percentileSector median
IS score 73 55
96th		 53
IS profitability 80 31
100th		 37
IS growth 74 70
65th		 54
IS value 28 43
7th		 47
IS momentum 94 80
86th		 76
IS risk (safety) 100 100
44th		 80
IS quality 82 65
98th		 67
IS balance sheet 64 58
65th		 56
IS earnings quality 81 67
93rd		 70
IS cash flow 68 44
73rd		 54
Piotroski F-score (0-9) 7 6
53rd		 6
Altman Z-score 10.6 4.8
95th		 3.3
Beneish M-score −2.51 −2.40
36th		 −2.52
Ohlson O-score −8.50 −7.88
31st		 −7.49
IS credit score 87 69
84th		 65

Per share

MeasureHWMIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $4.65 $1.65
64th		 $2.21
Book value per share $14.26 $14.45
47th		 $18.38
Tangible book per share −$0.55 $3.65
24th		 $4.39
Revenue per share $22.68 $29.92
44th		 $36.64
FCF per share $3.91 $1.44
67th		 $2.70
Operating cash flow per share $5.52 $2.14
69th		 $4.28
Cash per share $1.40 $2.93
20th		 $3.02

Size (TTM)

MeasureHWMIndustry medianIndustry percentileSector median
Market cap $88.1B $6.0B
91st		 $3.9B
Revenue $9.1B $2.0B
80th		 $2.7B
EBITDA $2.8B $252.5M
85th		 $394.8M
Net income $1.9B $85.5M
85th		 $136.3M
Free cash flow $1.6B $80.1M
87th		 $162.9M
Total assets $13.3B $4.1B
82nd		 $3.5B
Shareholders' equity $5.7B $1.6B
85th		 $1.4B
Employees 25,430 4,020
82nd		 6,050

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-02Cantie Joseph S
Director
 Award / grant 156$231.27$36,07844,238
2026-07-02Cantie Joseph S
Director
 Award / grant 134$270.41$36,23544,082
2026-05-21Albaugh James F
Director
 Award / grant 731——59,442
2026-05-21Smith Gunner
Director
 Award / grant 731——5,844
2026-05-21Schmidt Ulrich
Director
 Award / grant 731——53,228
2026-05-21Miller Jody
Director
 Award / grant 731——30,605
2026-05-21Leduc Robert F
Director
 Award / grant 731——35,824
2026-05-21Cantie Joseph S
Director
 Award / grant 731——43,948
2026-05-21Barner Sharon R
Director
 Award / grant 731——16,582
2026-05-21Alving Amy E
Director
 Award / grant 731——57,820
2026-05-11Marchuk Neil Edward
EVP, CAO
 Open-market sale 41,932$269.50$11.3M65,105

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
AprMayJulOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired106,138$72,313
Open-market saleDisposed141,932$11.3M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 4 notices · 192,608 shares · $48.5M
FiledFilerShares proposedEst. proceeds
2026-02-26Shultz Barbara Lou1,000$260,005
2026-02-18Giacobbe Ken37,471$9.5M
2026-02-18Marchuk Neil Edward45,150$11.4M
2026-02-17Giacobbe Ken108,987$27.4M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 14 trades (2 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-08-11Byron DonaldsHouseSale$1,001 - $15,0002026-09-16
2026-08-11Byron DonaldsHouseSale$1,001 - $15,0002026-09-16
2026-01-08Byron DonaldsHouseSale$1,001 - $15,0002026-02-13
2026-01-08Byron DonaldsHouseSale (Partial)$1,001 - $15,0002026-02-12
2025-04-04Ashley MoodySenatePurchase$15,001 - $50,0002025-05-14
2025-04-04Ashley MoodySenatePurchase$15,001 - $50,0002025-05-13
2025-04-04Ashley Brooke MoodySenatePurchase$15,001 - $50,0002025-05-13
2025-02-24Ashley MoodySenateSale$50,001 - $100,0002025-03-23
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.45,819,158$12.3B11.49%
VANGUARD CAPITAL MANAGEMENT LLC26,136,434$7.0B6.55%
STATE STREET CORP18,933,928$5.1B4.75%
VANGUARD PORTFOLIO MANAGEMENT LLC18,548,273$5.0B4.65%
FMR LLC15,412,294$4.1B3.86%
JPMORGAN CHASE & CO15,238,758$4.1B3.82%
PRICE T ROWE ASSOCIATES INC /MD/13,504,420$3.6B3.39%
BANK OF AMERICA CORP /DE/10,290,881$2.8B2.58%
GEODE CAPITAL MANAGEMENT, LLC9,509,195$2.6B2.38%
NORGES BANK7,895,313$2.1B1.98%
Jupiter Topco LLC7,680,827$2.1B1.93%
Invesco Ltd.6,851,793$1.8B1.72%
MORGAN STANLEY5,711,004$1.5B1.43%
MASSACHUSETTS FINANCIAL SERVICES CO /MA/4,971,798$1.4B1.25%
Nuveen, LLC4,800,435$1.3B1.20%

Institutional ownership by quarter

2023-092026-0691.7%
% of shares held by 13F filers
2023-092026-061,615
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,61591.7%23468049185
2026-03-311,47890.4%21161245785
2025-12-311,37392.7%22153942274
2025-09-301,25891.8%157490421111
2025-06-301,23395.7%25345239377
2025-03-311,06894.7%18142532193
2024-12-3199993.2%20236729955
2024-09-3086392.1%14733526878
2024-06-3080393.2%15828225557
2024-03-3171093.7%11921925867
2023-12-3166792.9%11621223850
2023-09-3061392.8%6724119552

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-07-22SCHEDULE 13G/AJPMORGAN CHASE & CO.4.5%18,118,656
2026-05-12SCHEDULE 13G/AJPMORGAN CHASE & CO5.1%20,775,218
2026-05-04SCHEDULE 13G/AJPMORGAN CHASE & CO.5.1%20,775,218
2026-04-30SCHEDULE 13GVanguard Capital Management7.5%29,982,753
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.12%$2.9B
VSMPX0.12%$2.9B
VTSAX0.12%$2.9B
VTI0.12%$2.9B
VFFSX0.14%$2.4B
VOO0.14%$2.4B

Share structure

Shares outstanding398,801,399
Float395,216,174
Free float99.1%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$5.0B$5.7B$6.6B$7.4B$8.3B
Cost of revenue$3.8B$4.3B$5.0B$5.4B$5.7B
Gross profit$1.1B$1.4B$1.6B$2.1B$2.5B
R&D$17.0M$32.0M$36.0M$33.0M$37.0M
SG&A$251.0M$288.0M$333.0M$362.0M$370.0M
Operating income$866.0M$1.0B$1.2B$1.7B$2.1B
EBITDA$853.0M$1.1B$1.5B$1.8B$2.4B
Pretax income$324.0M$606.0M$975.0M$1.4B$1.8B
Income tax$66.0M$137.0M$210.0M$228.0M$332.0M
Net income$258.0M$469.0M$765.0M$1.2B$1.5B
EPS, diluted$0.59$1.11$1.83$2.81$3.71
Diluted shares435.0M421.0M416.0M410.0M406.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$720.0M$791.0M$610.0M$564.0M$742.0M
Receivables$420.0M$537.0M$692.0M$709.0M$796.0M
Inventory$1.4B$1.6B$1.8B$1.8B$1.8B
Total current assets$2.7B$3.1B$3.3B$3.4B$3.8B
PP&E, net$2.5B$2.3B$2.5B$2.5B$2.6B
Goodwill & intangibles$4.6B$4.5B$4.5B$4.5B$4.5B
Total assets$10.2B$10.3B$10.4B$10.5B$11.2B
Accounts payable$732.0M$962.0M$982.0M$948.0M$845.0M
Total current liabilities$1.3B$1.5B$1.8B$1.5B$1.8B
Long-term debt$4.2B$4.2B$3.5B$3.3B$2.9B
Total liabilities$6.7B$6.7B$6.4B$6.0B$5.8B
Shareholders' equity$3.5B$3.6B$4.0B$4.6B$5.4B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$258.0M$469.0M$765.0M$1.2B$1.5B
Depreciation & amortization$270.0M$265.0M$272.0M$277.0M$283.0M
Stock-based compensation$41.0M$54.0M$50.0M$63.0M$0
Change in working capital−$345.0M−$203.0M−$345.0M−$345.0M−$168.0M
Operating cash flow$449.0M$733.0M$901.0M$1.3B$1.9B
Capital expenditure−$199.0M−$193.0M−$219.0M−$321.0M−$453.0M
Free cash flow$250.0M$540.0M$682.0M$977.0M$1.4B
Investing cash flow$107.0M−$135.0M−$215.0M−$316.0M−$438.0M
Net debt issued / repaid−$847.0M−$74.0M−$476.0M−$365.0M−$270.0M
Buybacks−$430.0M−$400.0M−$250.0M−$500.0M−$755.0M
Dividends paid−$19.0M−$44.0M−$73.0M−$109.0M−$181.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin22.8%23.9%24.3%27.5%30.7%
Operating margin17.4%18.3%18.8%22.4%25.8%
Net margin5.2%8.3%11.5%15.5%18.3%
FCF margin5.0%9.5%10.3%13.1%14.7%
ROE7.3%13.2%20.0%26.9%30.4%
ROIC9.7%11.3%13.5%18.6%22.8%
ROA2.4%4.6%7.4%11.0%13.9%
Debt / equity1.241.190.950.760.57
Interest coverage2.1x3.6x5.5x8.6x13.2x
Current ratio2.182.121.862.172.13
Revenue growth−5.5%+13.9%+17.3%+11.9%+11.1%
EPS growth−0.7%+87.2%+65.1%+53.2%+31.9%
P/E at year end52.6x34.9x29.1x38.5x54.9x
EV / EBITDA at year end19.6x18.0x17.4x25.7x37.4x
FCF yield at year end1.84%3.30%3.06%2.20%1.46%
Dividend payout7.8%9.4%9.5%9.4%12.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Engine Products Segment$2.3B$2.7B$3.3B$3.7B$4.3B
Engine Products——$3.3B$3.7B$4.3B
Fastening Systems$1.0B$1.1B$1.3B$1.6B$1.7B
Engineered Structures——$878.0M$1.1B$1.1B
Forged Wheels——$1.1B$1.1B$1.0B
Wheel Systems$921.0M$1.1B$1.1B——
Structure Systems$731.0M$796.0M$881.0M$1.1B—

Revenue by region · FY2025

UNITED STATES$4.4B · 61%
FRANCE$625.0M · 9%
JAPAN$513.0M · 7%
GERMANY$439.0M · 6%
UNITED KINGDOM$376.0M · 5%
ITALY$264.0M · 4%
CANADA$187.0M · 3%
MEXICO$166.0M · 2%
POLAND$150.0M · 2%
CHINA$130.0M · 2%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $1.37 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$10.1B$10.1B – $10.2B$5.34$5.30 – $5.401441.4x
2027$11.6B$11.4B – $11.7B$6.51$6.36 – $6.631333.9x
2028$12.9B$12.3B – $13.6B$7.68$6.93 – $8.971428.8x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-06$1.24$1.33+7.3%$2.4B$2.5B+4.9%
2026-05-07$1.11$0.86−22.5%$2.2B$2.3B+3.3%
2026-02-12$0.96$1.05+8.8%$2.1B$2.2B+2.1%
2025-10-30$0.91$0.95+4.4%$2.0B$2.1B+2.3%
2025-07-31$0.87$0.91+4.4%$2.0B$2.1B+2.3%
2025-05-01$0.78$0.86+10.8%$1.9B$1.9B+0.0%
2025-02-13$0.71$0.74+4.2%$1.9B$1.9B+0.6%
2024-11-06$0.66$0.71+7.6%$1.9B$1.8B−0.9%
2024-07-30$0.60$0.67+11.7%$1.8B$1.9B+2.5%
2024-05-02$0.52$0.57+9.6%$1.7B$1.8B+5.0%
2024-02-13$0.47$0.53+12.8%$1.7B$1.7B+4.7%
2023-11-02$0.43$0.46+7.0%$1.6B$1.7B+4.0%
2023-08-01$0.43$0.44+2.3%$1.6B$1.6B+2.4%
2023-05-02$0.38$0.42+10.5%$1.5B$1.6B+7.7%
2023-02-14$0.38$0.380.0%$1.5B$1.5B+3.2%
2022-10-31$0.36$0.360.0%$1.4B$1.4B−0.8%
2022-08-04$0.33$0.35+6.1%$1.4B$1.4B+1.9%
2022-05-03$0.29$0.31+6.9%$1.3B$1.3B+1.4%
2022-02-02$0.29$0.30+3.4%$1.3B$1.3B−1.9%
2021-11-04$0.25$0.27+8.0%$1.3B$1.3B−0.9%
2021-08-04$0.22$0.220.0%$1.2B$1.2B0.0%
2021-05-06$0.19$0.22+15.8%$1.2B$1.2B−1.2%
2021-02-03$0.17$0.21+23.5%$1.2B$1.2B+0.8%
2020-11-09$0.05$0.03−36.8%$1.4B$1.1B−20.6%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.906-151.706-221.106-290.707-060.707-130.607-200.807-270.908-030.708-100.808-170.708-241.708-31
Week ofNotionalSharesTrades
2026-08-31$1.7B6,743,593123,564
2026-08-24$700.6M2,641,42872,060
2026-08-17$755.4M2,668,72367,690
2026-08-10$697.7M2,460,81270,460
2026-08-03$907.0M3,128,27782,093
2026-07-27$786.8M2,794,46974,441

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1519.8%
DateShort shareShort volumeTotal volume
2026-10-1519.8%328,5671,661,649
2026-10-1421.0%246,9741,177,136
2026-10-1319.3%268,5131,388,975
2026-10-1226.4%195,489741,661
2026-10-0932.2%305,669950,213
2026-10-0823.5%244,7831,039,549
2026-10-0736.3%321,187885,787
2026-10-0630.0%264,271881,682
2026-10-0530.4%257,787849,321
2026-10-0229.3%290,556990,529
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+3.3Jan+7.4Feb-5.0Mar-0.3Apr+6.9May+1.1Jun+7.9Jul+2.0Aug-0.8Sep+0.2Oct+7.2Nov+2.3Dec
MonthAvg returnUp yearsYears
Jan+3.3%60%10
Feb+7.4%80%10
Mar−5.0%40%10
Apr−0.3%67%9
May+6.9%89%9
Jun+1.1%44%9
Jul+7.9%67%9
Aug+2.0%67%9
Sep−0.8%33%9
Oct+0.2%44%9
Nov+7.2%70%10
Dec+2.3%70%10
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1439.1
MFI34.0
ADX38.2
Stochastic %K / %D33.8 / 23.3
Williams %R-54.9
CCI-62
TSI / signal-25.7 / -26.2
Chaikin money flow-0.01
ATR$6.61
Bollinger width8.3%
Volume vs 20-day avg1.17x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$225.80 (−2.2%)
SMA 50$245.71 (−10.1%)
SMA 200$249.36 (−11.4%)
EMA 21$226.99 (−2.7%)
EMA 50$239.88 (−7.9%)
EMA 200$241.10 (−8.4%)
Bollinger upper$235.19 (−6.1%)
Bollinger lower$216.41 (+2.1%)
Parabolic SAR$211.08 (+4.7%)
Open the live chart, 110+ indicators

About Howmet Aerospace Inc.

Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, and originally established in 1888 as Arconic Inc., is a global leader in providing sophisticated engineered solutions. The company caters to the aerospace and transportation sectors across a wide international footprint, including key markets such as the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, and China. Its business operations are structured into four main segments: Engine Products: This division manufactures critical components like airfoils and seamless rolled rings, primarily utilized in aircraft engines and industrial gas turbines, alongside various rotating and structural parts. Fastening Systems: This segment specializes in producing aerospace-grade fastening systems, as well as fasteners for commercial transportation, general industrial applications, and other uses. Engineered Structures: Responsible for supplying titanium ingots and mill products for aerospace and defense applications, this segment also provides aluminum and nickel forgings, and precision machined components and assemblies. Forged Wheels: This segment focuses on offering forged aluminum wheels and associated products specifically for the heavy-duty truck and commercial transportation markets.

https://www.howmet.com

Key executives

NameTitlePayBorn
John C. PlantExecutive Chairman & Chief Executive Officer$8.4M1954
Neil E. MarchukExecutive VP & Chief Administrative Officer$2.3M1958
Jonathan ArenaExecutive Vice President, Secretary, Chief Legal & Compliance Officer$1.9M—
Michael Niem ChanatryVice President & Chief Commercial Officer$1.5M1960
Patrick Joseph WinterlichExecutive Vice President & Chief Financial Officer$1.1M1970
W. Paul MyronVice President of Finance, Strategy & Operations$787,1751966
Margaret S. LamAssistant Secretary, Associate General Counsel and Chief Securities & Governance Counsel——
Paul Thomas Luther Jr.Vice President of Investor Relations——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
John C. Plant Executive Chairman and Chief Executive Officer2025$1.8M$62.1M$6.3M$70.5M
Neil E. Marchuk Executive Vice President and Chief Administrative Officer2025$725,833$2.2M$1.5M$4.5M
Kenneth J. Giacobbe Former Executive Vice President and Chief Financial Officer2025$700,833$2.0M$1.4M$4.2M
Michael N. Chanatry Vice President and Chief Commercial Officer2025$604,166$1.3M$845,832$2.8M
Lola F. Lin Former Executive Vice President, Chief Legal and Compliance Officer and Secretary2025$431,378$1.4M$0$1.9M
Patrick J. Winterlich Executive Vice President and Chief Financial Officer2025$58,333$0$116,666$1.1M

Employees

43k201842k201920k202020k202121k202223k202324k202425k2025

Dividends

Ex-dateAmountPaid
2026-11-06$0.142026-11-25
2026-08-07$0.142026-08-25
2026-05-08$0.122026-05-26
2026-02-06$0.122026-02-25
2025-11-07$0.122025-11-25
2025-08-08$0.122025-08-25
2025-05-09$0.12025-05-27
2025-02-07$0.12025-02-25

Moat model

Narrow · Cost Advantage · 2026-06-30
Cost advantage81
Intangibles59
Switching costs56
Network effect60
Efficient scale73
Our component scores (0-100) and overall 64.9; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms