Astronics Corporation (ATRO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-24.4%

$45.32

vs $59.95 price

Levered DCF

$47.33

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.46

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	52.79×	-27.7×	-17.38×	-7.41×	-11.68×	-2.81×	13.77×	16.76×
P/B	11.89×	1.75×	1.84×	1.1×	1.16×	1.2×	1.84×	2.03×
P/S	1.93×	0.56×	0.67×	0.49×	0.67×	0.65×	0.93×	0.98×
EV / EBITDA	30.54×	38.18×	-3,118.99×	-212.97×	-96.28×	26.54×	19.7×	10.22×
Gross margin	29.9%	21.2%	17.5%	13.4%	14.7%	19.3%	20.2%	22.5%
Operating margin	8.9%	3.3%	-1.0%	-5.6%	-6.4%	-20.0%	0.2%	7.9%
Net margin	3.4%	-2.0%	-3.8%	-6.7%	-5.7%	-23.0%	6.7%	5.8%
Current ratio	3.1×	2.73×	2.72×	2.41×	2.87×	3.38×	2.84×	2.92×
Debt / equity	2.7×	0.76×	0.79×	0.74×	0.71×	0.73×	0.56×	0.62×
Interest coverage	6.08×	1.2×	0×	0×	0×	-14.94×	0.28×	6.56×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	21.0%	-6.3%	-10.6%	-14.9%	-10.0%	-42.8%	13.4%	12.1%
Return on invested capital	12.3%	5.3%	-1.3%	-6.4%	-5.5%	-18.9%	0.2%	8.8%
Return on assets	4.2%	-2.5%	-4.1%	-5.8%	-4.2%	-18.7%	6.6%	6.0%
Free cash flow yield	2.6%	4.9%	-6.9%	-13.6%	-3.9%	9.2%	4.3%	4.9%
Earnings yield	1.8%	-3.6%	-5.8%	-13.5%	-8.6%	-35.6%	7.3%	6.0%
Enterprise value	$2B	$633.7M	$645.6M	$429.4M	$450.9M	$482.2M	$902.9M	$1B
Net debt / EBITDA	5.43×	11.12×	-901.29×	-81.66×	-32.47×	8.64×	4.07×	2.25×
Cash conversion cycle (days)	181	179	175	198	206	185	135	134