ATI vs Moog
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KIRA’s take AI analyst
I put ATI and Moog side by side, using each one’s latest annual report. Here is what stands out:
- ATI is the larger business, with $4.6B of revenue in fiscal 2025 against $3.9B for Moog.
- Moog grew revenue faster (7.0%, against 5.2%).
- ATI kept more of each dollar of sales as operating profit (14.0% operating margin, against 11.7%).
- ATI turned more of its sales into free cash flow (7.3% FCF margin, against 3.3%).
- ATI earned a higher return on the capital invested in it (16.7%, against 11.7%).
- Investors pay more for each dollar of ATI’s earnings: a P/E of 48.3x against 30.5x for Moog.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
ATI
ATI
9/11
5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Moog
MOG-A
2/11
Revenue growthGross margin
Side by side
Best in the row
| Latest fiscal year | ATI FY25 | MOG-A FY25 |
|---|---|---|
| Size | ||
| Market cap | $22.8B | $11.5B |
| Revenue | $4.6B | $3.9B |
| Free cash flow | $334M | $128M |
| Net income | $404M | $235M |
| Growth | ||
| Revenue growth | 5.2% | 7.0% |
| 5-year growth | 9.0% | 6.0% |
| Share count change | −3.3% | −0.9% |
| Profitability | ||
| Gross margin | 22.0% | 27.4% |
| Operating margin | 14.0% | 11.7% |
| Net margin | 8.8% | 6.1% |
| FCF margin | 7.3% | 3.3% |
| Return on capital | 16.7% | 11.7% |
| Return on equity | 22.1% | 12.3% |
| Balance sheet | ||
| Net debt | $1.3B | $1.0B |
| Net debt / EBITDA | 1.6x | 1.8x |
| Dividends and buybacks | $470M | $179M |
| Valuation & quality | ||
| P/E | 48.3x | 30.5x |
| Piotroski F-score | 9 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

