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Howmet Aerospace Inc. provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment offers airfoils and seamless rolled rings primarily for aircraft engines and industrial gas turbines; and rotating and structural parts. The Fastening Systems segment produces aerospace fastening systems, as well as commercial transportation, industrial, and other fasteners; and latches, bearings, fluid fittings, and installation tools. The Engineered Structures segment provides titanium ingots and mill products, aluminum and nickel forgings, and machined components and assemblies for aerospace and defense applications; and titanium forgings, extrusions, and forming and machining services for airframe, wing, aero-engine, and landing gear components. The Forged Wheels segment offers forged aluminum wheels and related products for heavy-duty trucks and commercial transportation markets. The company was formerly known as Arconic Inc. Howmet Aerospace Inc. was founded in 1888 and is based in Pittsburgh, Pennsylvania.
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 | $8.3B | $2.3B | $1.5B | $1.4B | 28.2% | 11.1% | 30.6% |
| 2024 | $7.4B | $1.8B | $1.2B | $977M | 25.7% | 11.9% | 51.0% |
| 2023 | $6.6B | $1.5B | $765M | $682M | 19.2% | 17.3% | 63.1% |
| 2022 | $5.7B | $1.1B | $469M | $540M | 13.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 5,663 | 6,640 | 7,430 | 8,252 |
| Operating Revenue | - | 5,663 | 6,640 | 7,430 | 8,252 |
| Cost Of Revenue | - | 4,103 | 4,773 | 5,119 | 5,432 |
| Gross Profit | - | 1,560 | 1,867 | 2,311 | 2,820 |
| Operating Expense | - | 577 | 651 | 672 | 705 |
| Research And Development | - | 32 | 36 | 33 | 37 |
| Selling General And Administration | - | 280 | 343 | 362 | 385 |
| Total Expenses | - | 4,680 | 5,424 | 5,791 | 6,137 |
| Operating Income | - | 983 | 1,216 | 1,639 | 2,115 |
| Total Operating Income As Reported | - | 919 | 1,203 | 1,633 | 2,046 |
| EBITDA | - | 1,100 | 1,465 | 1,842 | 2,274 |
| Normalized EBITDA | - | 1,240 | 1,485 | 1,907 | 2,392 |
| EBIT | - | 835 | 1,193 | 1,565 | 1,991 |
| Interest Income | - | 6 | 23 | 20 | 20 |
| Interest Expense | - | 229 | 218 | 182 | 151 |
| Net Interest Income | - | -223 | -195 | -162 | -131 |
| Other Non Operating Income Expenses | - | -14 | -26 | -29 | -26 |
| Other Income Expense | - | -154 | -46 | -94 | -144 |
| Interest Income Non Operating | - | 6 | 23 | 20 | 20 |
| Interest Expense Non Operating | - | 229 | 218 | 182 | 151 |
| Net Non Operating Interest Income Expense | - | -223 | -195 | -162 | -131 |
| Pretax Income | - | 606 | 975 | 1,383 | 1,840 |
| Tax Provision | - | 137 | 210 | 228 | 332 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -31.64 | -4.30 | -10.72 | -21.29 |
| Net Income Continuous Operations | - | 469 | 765 | 1,155 | 1,508 |
| Net Income From Continuing And Discontinued Operation | - | 469 | 765 | 1,155 | 1,508 |
| Net Income From Continuing Operation Net Minority Interest | - | 469 | 765 | 1,155 | 1,508 |
| Net Income | - | 469 | 765 | 1,155 | 1,508 |
| Net Income Common Stockholders | - | 467 | 763 | 1,153 | 1,506 |
| Net Income Including Noncontrolling Interests | - | 469 | 765 | 1,155 | 1,508 |
| Normalized Income | - | 577.36 | 780.70 | 1,209.28 | 1,604.71 |
| Diluted NI Availto Com Stockholders | - | 467 | 763 | 1,153 | 1,506 |
| Basic Average Shares | - | 416.04 | 412.17 | 408 | 404 |
| Diluted Average Shares | - | 421.44 | 415.96 | 410 | 406 |
| Reconciled Depreciation | - | 265 | 272 | 277 | 283 |
| Reconciled Cost Of Revenue | - | 4,103 | 4,773 | 5,119 | 5,432 |
| Total Unusual Items | - | -140 | -20 | -65 | -118 |
| Total Unusual Items Excluding Goodwill | - | -140 | -20 | -65 | -118 |
| Preferred Stock Dividends | - | 2 | 2 | 2 | 2 |
| Net Income Discontinuous Operations | 0 | 0 | - | - | - |
| Special Income Charges | - | -123 | 0 | -27 | -99 |
| Other Special Charges | - | 67 | -23 | 6 | 15 |
| Impairment Of Capital Assets | - | 1 | 14 | 2 | 0 |
| Restructuring And Mergern Acquisition | - | 63 | 10 | 7 | 90 |
| Gain On Sale Of Security | - | -17 | -20 | -38 | -19 |
| Depreciation Amortization Depletion Income Statement | - | 265 | 272 | 277 | 283 |
| Depreciation And Amortization In Income Statement | - | 265 | 272 | 277 | 283 |
| General And Administrative Expense | - | 280 | 343 | 362 | 385 |
| Other Gand A | - | 288 | 333 | 347 | 370 |
| Salaries And Wages | - | -8 | 10 | 15 | 15 |
| Gain On Sale Of Ppe | - | 8 | 1 | -12 | 6 |
| Average Dilution Earnings | 0 | 0 | - | - | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Howmet Aerospace Inc.this co. | HWM | $99.8B | 66.15↑ premium | 18.64 | 28.2% | 44.96 |
| Parker-Hannifin Corporation | PH | $110.0B | 31.15 | 8.04 | 25.8% | 21.91 |
| Quanta Services, Inc. | PWR | $107.9B | 104.94 | 12.07 | 11.5% | 44.47 |
| Trane Technologies plc | TT | $102.5B | 35.13 | 11.95 | 34.0% | 24.61 |
| United Parcel Service, Inc. | UPS | $93.7B |
| - |
| - |
| - |
| - |
| - |
| 16.81 |
| 5.77 |
| 34.3% |
| 9.76 |
| Cummins Inc. | CMI | $93.6B | 32.91 | 7.58 | 23.0% | 18.31 |
| General Dynamics Corporation | GD | $92.4B | 21.94 | 3.60 | 16.4% | 15.52 |
| Johnson Controls International plc | JCI | $89.9B | 27.33 | 6.96 | 25.5% | 32.48 |
| Waste Management, Inc. | WM | $87.9B | 32.48 | 8.80 | 27.1% | 15.37 |
| Peer Median | - | 31.81 | 7.81 | 25.6% | 20.11 | |