ATI
ATI · Aerospace & Defense
$156.88
3.1%Curtiss-Wright
CW · Aerospace & Defense
$464.94
2.0%The short version
- ATI is the larger business, with $4.6B of revenue in fiscal 2025 against $3.5B for Curtiss-Wright.
- Curtiss-Wright grew revenue faster (12.1%, against 5.2%).
- Curtiss-Wright kept more of each dollar of sales as operating profit (18.1% operating margin, against 14.0% operating margin).
- Curtiss-Wright turned more of its sales into free cash flow (15.8% FCF margin, against 7.3% FCF margin).
- ATI earned a higher return on the capital invested in it (16.7%, against 15.9%).
- Investors pay more for each dollar of ATI’s earnings: a P/E of 46.0x against 32.0x for Curtiss-Wright.
| Latest fiscal year | ATI · FY25 | CW · FY25 |
|---|---|---|
| Size | ||
| Market cap | $21.7B | $17.2B |
| Revenue | $4.6B | $3.5B |
| Free cash flow | $334M | $554M |
| Net income | $404M | $484M |
| Growth | ||
| Revenue growth | 5.2% | 12.1% |
| 5-year growth | 9.0% | 7.9% |
| Share count change | −3.3% | −1.9% |
| Profitability | ||
| Gross margin | 22.0% | 37.2% |
| Operating margin | 14.0% | 18.1% |
| Net margin | 8.8% | 13.8% |
| FCF margin | 7.3% | 15.8% |
| Return on capital | 16.7% | 15.9% |
| Return on equity | 22.1% | 19.4% |
| Balance sheet | ||
| Net debt | $1.3B | $587M |
| Net debt / EBITDA | 1.6x | 0.8x |
| Dividends and buybacks | $470M | $500M |
| Valuation & quality | ||
| P/E | 46.0x | 32.0x |
| Piotroski F-score | 9 | 8 |
FY16
ATI $3.1B
CW $2.1B
FY17
ATI $3.5B
CW $2.3B
FY18
ATI $4.0B
CW $2.4B
FY19
ATI $4.1B
CW $2.5B
FY20
ATI $3.0B
CW $2.4B
FY21
ATI $2.8B
CW $2.5B
FY22
ATI $3.8B
CW $2.6B
FY23
ATI $4.2B
CW $2.8B
FY24
ATI $4.4B
CW $3.1B
FY25
ATI $4.6B
CW $3.5B
ATI
CW
FY16
ATI −17.3%
CW 14.1%
FY17
ATI 3.8%
CW 14.3%
FY18
ATI 9.0%
CW 15.5%
FY19
ATI 8.9%
CW 16.2%
FY20
ATI −43.7%
CW 12.1%
FY21
ATI 4.2%
CW 15.1%
FY22
ATI 7.5%
CW 16.6%
FY23
ATI 11.2%
CW 17.0%
FY24
ATI 14.0%
CW 16.9%
FY25
ATI 14.0%
CW 18.1%
ATI
CW
FY16
ATI −$246M
CW $376M
FY17
ATI −$100M
CW $336M
FY18
ATI $254M
CW $283M
FY19
ATI $61.9M
CW $352M
FY20
ATI $30.4M
CW $214M
FY21
ATI −$137M
CW $347M
FY22
ATI $94.0M
CW $257M
FY23
ATI −$115M
CW $403M
FY24
ATI $168M
CW $483M
FY25
ATI $334M
CW $554M
ATI
CW
FY16
ATI −13.1%
CW 11.6%
FY17
ATI 3.4%
CW 13.1%
FY18
ATI 10.9%
CW 14.9%
FY19
ATI 11.8%
CW 15.0%
FY20
ATI −44.4%
CW 9.2%
FY21
ATI 3.5%
CW 10.6%
FY22
ATI 12.6%
CW 11.2%
FY23
ATI 18.1%
CW 12.4%
FY24
ATI 16.4%
CW 13.4%
FY25
ATI 16.7%
CW 15.9%
ATI
CW
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.