Howmet Aerospace Inc.

Rolling Drawing & Extruding Of Nonferrous Metals

HWMMixed10 of 11 basics passed

$225.67

+1.40%

Market cap $90.0B

$225.67

+1.40%

Market cap $90.0B

Howmet Aerospace Inc offers engineered solutions for the aerospace and transportation industries.

It is a $90.0B industrial company. Revenue grew 18.1% over the last year, it keeps 21¢ of every dollar of sales as profit, and its net debt equals ~1.2 years of free cash flow. It trades at 48.0× earnings — around the middle of its own history.

Website: howmet.com
Location: Pittsburgh, PA
Employees: 25 430
Sector: Industrials

Share price · 3 years

$46.46 → $225.67+385.7%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $9.12B
Profit: keeps 21¢ of every $1 sold; $1.87B
Free cash flow: cash left after running the business; $1.79B
Net debt: debt minus cash on hand; $2.12B
P/E: years of profit in the price; 48.0
EPS: earnings per share, TTM; $4.61
Dividend: pays out 10% of profit · 11% of FCF; 0.22%
Shares: down 14% since 2016 — buybacks; 406.0M
Volatility: beta vs the market — under 1 swings less; 1.29

Revenue, last 10 years

52-week range

Low $184.09$225.67High $292.65

Today's price is 38% of the way from the year's low to its high.

P/E vs its history5y

48.0×median 43.8×

Higher than 61% of past days — around the middle of its own history.

Valuation vs own history

P/E

48.0×

39%

P/S

9.9×

20%

EV/EBITDA

39.0×

27%

P/B

15.7×

18%

FCF yield

2.0%

44%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Standing in Industrials

Size$90.0Btop 10%
Revenue growth+13%top 13%
Net margin21%top 9%
Return on equity34%top 20%
P/E48.0×top 87%
Dividend yield0.22%top 89%

Ranked against 130 Industrials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong growth, profitability and quality; Valuation and Moat lag behind.

Valuation27

P/E vs own history61th pct · 5/25
FCF yield2.0% · 5/25
P/S9.9x · 12/25
EV/EBITDA33.7x · 5/25

Growth95

Revenue CAGR13.5% · 20/25
Net income CAGR55.5% · 25/25
EPS CAGR ~5Y44.3% · 25/25
Fwd implied growth31.4% · 25/25

Profitability95

ROIC20.2% · 20/25
ROE34.4% · 25/25
Net margin20.5% · 25/25
Operating margin27.2% · 25/25

Health55

Altman Zn/a · 0/25
Current ratio1.82 · 18/25
Interest coverage13.3x · 25/25
Net cash / debtD/A 19% · 12/25

Quality89

Piotroski F7/9 · 22/25
Beneish M-2.51 · 25/25
FCF conversion96% · 22/25
Margin stabilityσ 6.7% · 20/25

Moat22

ROIC >12% years3/10 yrs · 6/25
Median gross margin27.8% · 6/25
FCF-positive years6/10 yrs · 10/25
Worst-year net marginworst -7.6% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Best year on record
$1.51B net income
FY2021Financial
Positive free cash flow every year since
5-year streak
FY2018Financial
Turned profitable
$642M net income after a loss year
FY2016Financial
Revenue already above $10B
$12.4B in first reported year

Achievements

Verifiable track record, straight from the reported numbers.

#14 largest of 130 Industrials companies by market cap

$10 000 invested in 2021 would be worth ~$71 437 today — price return only

$8.3B revenue in FY2025

Revenue up 18.1% year over year

Profitable 8 years in a row

Positive free cash flow 5 years in a row

25 430 employees

ROIC of 20.2%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Strongly profitable — 20.5% net margin
Revenue growing 18.1% year over year
Strong cash conversion — FCF is 19.6% of revenue
Interest covered 13.3× by operating earnings
High returns on invested capital (ROIC 20.2%)

Watch-outs

Loss-making in 2 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

10 of 11 checks passed

Revenue growing — the company sells more than a year ago+18.1% YoY
Profitable — makes more than it spends$1.87B TTM
Profit growing — earnings are higher than last year+49.4% YoY
Generates cash — cash left after running and investing$1.79B TTM
Debt under control — could handle its obligations~1.2y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$90.0B market cap
Not printing shares — share count not ballooning — you keep your slice-7.5% shares over ~5y
Proven track record — years of profitability behind it8/10 profitable years
Financially stable — balance sheet not near distresshealth score 43/100
Pays a dividend — returns cash to shareholdersyield 0.22%
Valuation not extreme — price not wildly above earningsP/E 48.0

Peer comparisonHowmet Aerospace Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
HWM this company	$90.0B	48.0	+18.1%	20.5%	Mixed
LRCX Lam Research Corp	$399.2B	54.9	+26.0%	31.3%	Strong
CAT Caterpillar Inc.	$368.0B	33.9	+18.4%	14.5%	Solid
RTX RTX Corporation	$251.3B	32.4	+11.8%	8.3%	Strained
DE Deere & Company	$167.7B	34.4	+8.3%	10.2%	Solid
ETN Eaton Corporation, plc	$167.2B	43.6	+15.5%	12.8%	Mixed
UNP Union Pacific Corp.	$166.8B	22.6	+4.2%	28.8%	Strained

Head-to-head: HWM vs LRCX · HWM vs CAT · HWM vs RTX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 9Buy 14Hold 5

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $9.12B · net income $1.87B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$9.12B

YoY 18.1%

Net income (TTM)

$1.87B

Margin 20.5%

Gross margin

36.0%

Operating margin

27.2%

P/E ratio

48.0

Dividend yield

0.22%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	5.3	5.0	5.7	6.6	7.4	8.3
Gross profit	—	1.4	1.6	1.9	2.3	2.8
Operating income (EBIT)	0.6	0.7	0.9	1.2	1.6	2.0
Net income	0.3	0.3	0.5	0.8	1.2	1.5
EPS (diluted)	0.59	0.59	1.11	1.84	2.82	3.71

Cash flowFree cash flow $1.79B · operating cash flow $2.22B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$1.79B

Margin 19.6%

Operating cash flow (TTM)

$2.22B

FCF margin

19.6%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.0	0.4	0.7	0.9	1.3	1.9
Capital expenditure	-0.3	-0.2	-0.2	-0.2	-0.3	-0.5
Free cash flow	-0.3	0.3	0.5	0.7	1.0	1.4
FCF margin	-4.9%	5.0%	9.5%	10.3%	13.1%	17.3%

Balance sheetAssets $11.2B · net debt $2.12B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $11.2B of assets is financed

52%

48%

Liabilities $5.83B — borrowed moneyEquity $5.35B — owners' stake

Cash vs debt

Total debt $2.86B − cash $742M = net debt $2.12B

Cash on hand covers 26% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

13.3x

EBIT ÷ interest expense

ROE

34.4%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	1.6	0.7	0.8	0.6	0.6	0.7
Total assets	11.4	10.2	10.3	10.4	10.5	11.2
Total liabilities	7.9	6.7	6.7	6.4	6.0	5.8
Total debt	5.1	4.2	4.2	3.5	3.3	2.9
Equity	3.6	3.5	3.6	4.0	4.6	5.4
Net debt	3.5	3.5	3.4	2.9	2.7	2.1

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of HWM on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $225.67 · market cap $90.0B.