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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 operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, systems certification, and other products. This segment serves airframe manufacturers (OEM) that build aircraft for the commercial transport, military, and general aviation markets; suppliers to OEMs; and aircraft operators, such as airlines; suppliers to the aircraft operators; and branches of the U.S. Department of Defense. The Test Systems segment designs, develops, manufactures, and maintains automated test systems that support the aerospace and defense, communications, and mass transit industries, as well as training and simulation devices for commercial and military applications. This segment serves OEMs and prime government contractors for electronics and military products. The company was incorporated in 1968 and is headquartered in East Aurora, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $862M | $98M | $29M | $43M | 21.0% | 8.4% | - |
| 2024 | $795M | $51M | $-16M | $22M | -6.3% | 15.4% | - |
| 2023 | $689M | $19M | $-26M | $-32M | -10.6% | 28.8% | - |
| 2022 | $535M | $-2M | $-36M | $-36M | -14.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 534.89 | 689.21 | 795.43 | 862.13 |
| Cost Of Revenue | 463.35 | 514.67 | 575 | 603.97 |
| Gross Profit | 71.54 | 174.53 | 220.43 | 258.16 |
| Operating Expense | 101.58 | 181.20 | 193.96 | 181.75 |
| Operating Income | -30.04 | -6.67 | 26.47 | 76.41 |
| EBITDA | -2.27 | 19.43 | 50.93 | 98.25 |
| EBIT | -30.04 | -6.67 | 26.47 | 76.41 |
| Pretax Income | -29.79 | -26.31 | -7.87 | 31.95 |
| Tax Provision | 5.95 | 0.11 | 8.35 | 2.59 |
| Net Income | -35.75 | -26.42 | -16.21 | 29.36 |
| Net Income Common Stockholders | -35.75 | -26.42 | -16.21 | 29.36 |
| Total Expenses | 564.94 | 695.88 | 768.96 | 785.72 |
| Research And Development | 0 | 53.74 | 52.09 | 43.48 |
| Selling General And Administration | 101.58 | 127.47 | 141.88 | 138.27 |
| Normalized EBITDA | -13.55 | 16.01 | 61.08 | 130.89 |
| Normalized Income | -44.66 | -29.13 | -8.20 | 59.36 |
| Basic EPS | -1.11 | -0.80 | -0.46 | 0.83 |
| Diluted EPS | -1.11 | -0.80 | -0.46 | 0.81 |
| Tax Effect Of Unusual Items | 2.37 | 0.72 | -2.13 | -2.64 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.08 |
| Total Unusual Items | 11.28 | 3.43 | -10.15 | -32.64 |
| Total Unusual Items Excluding Goodwill | 11.28 | 3.43 | -10.15 | -32.64 |
| Net Income From Continuing Operation Net Minority Interest | -35.75 | -26.42 | -16.21 | 29.36 |
| Reconciled Depreciation | 27.78 | 26.10 | 24.47 | 21.84 |
| Reconciled Cost Of Revenue | 463.35 | 514.67 | 575 | 603.97 |
| Net Interest Income | -9.42 | -23.33 | -22 | -12.56 |
| Net Income From Continuing And Discontinued Operation | -35.75 | -26.42 | -16.21 | 29.36 |
| Total Operating Income As Reported | -30.04 | -6.67 | 26.47 | 76.41 |
| Diluted Average Shares | 32.20 | 33.10 | 35.25 | 36.46 |
| Basic Average Shares | 32.20 | 33.03 | 35.25 | 35.44 |
| Diluted NI Availto Com Stockholders | -35.75 | -26.42 | -16.21 | 29.36 |
| Net Income Including Noncontrolling Interests | -35.75 | -26.42 | -16.21 | 29.36 |
| Net Income Continuous Operations | -35.75 | -26.42 | -16.21 | 29.36 |
| Other Income Expense | 9.67 | 3.69 | -12.34 | -31.91 |
| Other Non Operating Income Expenses | -1.61 | 0.26 | -2.19 | 0.74 |
| Special Income Charges | 11.28 | 3.43 | -10.15 | -32.64 |
| Gain On Sale Of Ppe | 0 | 0 | 0 | 0 |
| Gain On Sale Of Business | 11.28 | 3.43 | 0 | 0 |
| Other Special Charges | 0 | 0 | 10.15 | 32.64 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -9.42 | -23.33 | -22 | -12.56 |
| Total Other Finance Cost | 9.42 | 23.33 | 22 | 12.56 |
| Operating Revenue | 534.89 | 689.21 | 795.43 | 862.13 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Astronics Corporationthis co. | ATRO | $2.4B | 82.70↑ premium | 17.06 | 21.0% | 23.80 |
| CECO Environmental Corp. | CECO | $2.6B | 190.74 | 8.14 | 15.5% | 32.79 |
| Atkore Inc. | ATKR | $2.5B | - | 1.81 | -1.1% | 9.42 |
| Xometry, Inc. | XMTR | $2.3B | - | 8.43 | -22.3% | -96.98 |
| American Superconductor Corporation | AMSC | $2.3B |
| 15.69 |
| 4.23 |
| 3.1% |
| 95.34 |
| First Advantage Corporation | FA | $2.2B | - | 1.73 | -2.7% | 10.84 |
| Helios Technologies, Inc. | HLIO | $2.2B | 46.10 | 2.38 | 5.2% | 16.37 |
| Eos Energy Enterprises, Inc. | EOSE | $2.2B | - | -0.95 | 43.3% | -15.54 |
| Huron Consulting Group Inc. | HURN | $2.1B | 22.00 | 4.01 | 19.9% | 11.58 |
| Peer Median | - | 34.05 | 3.19 | 4.1% | 11.21 | |