Howmet Aerospace
HWM · Aerospace & Defense
$185.91
3.8%StandardAero
SARO · Aerospace & Defense
$21.78
0.3%The short version
- Howmet Aerospace is the larger business, with $8.3B of revenue in fiscal 2025 against $6.1B for StandardAero.
- StandardAero grew revenue faster (15.8%, against 11.1%).
- Howmet Aerospace kept more of each dollar of sales as operating profit (24.8% operating margin, against 9.1% operating margin).
- Howmet Aerospace turned more of its sales into free cash flow (17.3% FCF margin, against 3.9% FCF margin).
- Howmet Aerospace earned a higher return on the capital invested in it (22.4%, against 8.9%).
- Investors pay more for each dollar of Howmet Aerospace’s earnings: a P/E of 40.1x against 22.5x for StandardAero.
| Latest fiscal year | HWM · FY25 | SARO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $74.7B | $7.2B |
| Revenue | $8.3B | $6.1B |
| Free cash flow | $1.4B | $234M |
| Net income | $1.5B | $277M |
| Growth | ||
| Revenue growth | 11.1% | 15.8% |
| 5-year growth | 9.4% | — |
| Share count change | −1.0% | 15.4% |
| Profitability | ||
| Gross margin | — | 14.8% |
| Operating margin | 24.8% | 9.1% |
| Net margin | 18.3% | 4.6% |
| FCF margin | 17.3% | 3.9% |
| Return on capital | 22.4% | 8.9% |
| Return on equity | 30.4% | 11.0% |
| Balance sheet | ||
| Net debt | $2.3B | $1.9B |
| Net debt / EBITDA | 1.0x | 2.6x |
| Dividends and buybacks | $881M | $0.0M |
| Valuation & quality | ||
| P/E | 40.1x | 22.5x |
| Piotroski F-score | 7 | 8 |
FY16
HWM $12.4B
SARO —
FY17
HWM $13.0B
SARO —
FY18
HWM $6.8B
SARO —
FY19
HWM $7.1B
SARO —
FY20
HWM $5.3B
SARO —
FY21
HWM $5.0B
SARO —
FY22
HWM $5.7B
SARO $4.2B
FY23
HWM $6.6B
SARO $4.6B
FY24
HWM $7.4B
SARO $5.2B
FY25
HWM $8.3B
SARO $6.1B
HWM
SARO
FY16
HWM 7.7%
SARO —
FY17
HWM 3.7%
SARO —
FY18
HWM 11.4%
SARO —
FY19
HWM 8.2%
SARO —
FY20
HWM 11.9%
SARO —
FY21
HWM 15.0%
SARO —
FY22
HWM 16.2%
SARO 6.3%
FY23
HWM 18.1%
SARO 7.4%
FY24
HWM 22.0%
SARO 7.7%
FY25
HWM 24.8%
SARO 9.1%
HWM
SARO
FY16
HWM −$1.0B
SARO —
FY17
HWM −$635M
SARO —
FY18
HWM −$551M
SARO —
FY19
HWM −$180M
SARO —
FY20
HWM −$258M
SARO —
FY21
HWM $250M
SARO —
FY22
HWM $540M
SARO −$14.0M
FY23
HWM $682M
SARO $12.8M
FY24
HWM $977M
SARO −$26.6M
FY25
HWM $1.4B
SARO $234M
HWM
SARO
FY16
HWM 2.9%
SARO —
FY17
HWM 2.3%
SARO —
FY18
HWM 5.7%
SARO —
FY19
HWM 3.5%
SARO —
FY20
HWM 7.2%
SARO —
FY21
HWM 8.3%
SARO —
FY22
HWM 10.2%
SARO —
FY23
HWM 13.4%
SARO —
FY24
HWM 18.9%
SARO 4.6%
FY25
HWM 22.4%
SARO 8.9%
HWM
SARO
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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.