ATRO ASTRONICS CORP

Overview and Growth

In fiscal 2025, ASTRONICS CORP recorded $862.13M of revenue, net income of $29.36M, and an operating cash inflow of $74.80M. The $862.13M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $795.43M in fiscal 2024, revenue recorded a 8.4% year-over-year increase. On a per-share basis, diluted EPS was $0.81, which connects the reported earnings outcome with the company’s diluted share count. The revenue-to-assets relationship was 1.22x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $258.16M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 29.9% of revenue, showing how much of the top line remained after direct costs. The reported operating result was $76.41M, capturing profitability after direct costs and the operating expenses reflected in the statements. Operating margin measured 8.9%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $29.36M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 3.4% margin after operating costs and the remaining recognized items. Before income taxes, the company reported $31.95M of earnings, providing a bridge between the operating result and final net income. Measured against revenue, pretax income equaled 3.7%, adding a pre-tax profitability layer between revenue and net income. The company recognized $2.59M of income tax for the period, completing the transition from pretax income to net income. Relative to pretax income, the tax provision measured 8.1%, quantifying the portion of pre-tax earnings paid in income tax.

Liquidity and Capital Structure

The company held $706.68M of assets against $566.60M of liabilities and $140.07M of equity, revealing how the asset base was financed. At period end, current assets of $437.74M compared with current liabilities of $141.28M, defining the company’s short-term resource position. The current ratio was 3.1x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $18.18M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 12.9%, excluding receivables and other current assets. The company carried $334.45M of total debt at period end, which frames its leverage and debt-service burden. Against book equity, debt measured 2.39x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 47.3%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 80.2%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 2.6%, comparing reported cash and equivalents with the full positive asset balance. Compared with $648.76M in fiscal 2024, the current asset base moved 8.9% and finished higher.

Cash Flow and Earnings Quality

Cash flow from operations was $74.80M, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 2.55x of net income, showing how strongly accounting earnings converted into cash from operations. Capital spending was $31.67M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 42.3%, connecting investment intensity with the company’s cash-generation base. Free cash flow came to $43.12M, leaving a positive amount after capital expenditures. Relative to revenue, free cash flow equaled 5.0%, showing how much sales converted into cash after investment. The free-cash-flow-to-assets relationship was 6.1%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.