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Held by 295 of 6,047 reporting institutions (94th percentile) — extremely crowded.
Data as of Q2 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 17 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RTX | $252.0B | 37.7× | 20.4× | 2.8× | 9.7% | — | 7.6% | 10.3% | 6.7% | 2.0× | 3,319 |
| BA | $149.2B | 76.1× | 32.2× | 1.7× | 34.5% | 4.8% | 2.5% | 41.0% | 3.3% | 8.2× | 2,561 |
| HON | $66.7B | 28.6× | 9.3× | 1.8× | 7.8% | 36.9% | 12.6% | 34.0% | 9.8% | 2.3× | 157 |
| TDG | $62.7B | 35.4× | 19.7× | 7.1× | 11.2% | 60.1% | 23.5% | -21.4% | 10.5% | 5.9× | 1,107 |
| HEI | $43.1B | 63.0× | 35.3× | 9.6× | 16.3% | 39.8% | 15.4% | 16.0% | 16.0% | -0.2× | 742 |
| ESLT | $34.8B | 65.1× | 40.6× | 4.4× | 16.3% | 24.4% | 6.7% | 12.9% | 12.6% | -0.6× | 372 |
| TXT | $12.9B | 14.7× | — | 0.9× | 8.0% | — | 6.2% | 11.7% | 11.7% | — | 759 |
| SARO | $6.9B | 25.3× | 11.9× | 1.1× | 15.8% | 14.8% | 4.6% | 10.4% | 5.7% | 2.6× | 349 |
| AVAV | $6.3B | — | — | 3.2× | 141% | 25.3% | -13.4% | -6.0% | -5.2% | — | 602 |
| LOAR | $5.9B | 83.7× | 55.1× | 11.8× | 23.2% | 52.7% | 14.5% | 6.1% | 3.8% | 5.3× | 276 |
| KRMN | $4.5B | 260.8× | 52.3× | 9.5× | 36.6% | 40.3% | 3.7% | 4.5% | 4.5% | -0.3× | 348 |
| AIR | $3.9B | 20.2× | — | 1.2× | 19.0% | 18.8% | 5.7% | 11.0% | 7.2% | — | 389 |
| ATRO | $2.6B | 76.0× | 30.2× | 3.1× | 8.4% | 29.9% | 3.4% | 21.0% | 6.2% | 3.2× | 295 |
| DCO | $2.6B | — | — | 3.1× | 4.9% | 26.9% | -4.5% | -5.6% | -3.9% | — | 258 |
| PKE | $571M | 46.9× | 32.1× | 7.8× | 18.2% | 30.9% | 15.4% | 8.7% | 8.7% | -5.1× | 187 |
| TATT | $419M | 23.5× | 15.8× | 2.4× | 17.0% | 24.8% | 9.4% | 9.5% | 8.9% | -1.6× | 93 |
| AIRO | $173M | — | — | 1.9× | 4.6% | 59.9% | -4.5% | -0.6% | -0.6% | — | 97 |
| SIF | $133M | — | 27.1× | 1.6× | 6.5% | 12.5% | -0.9% | -2.0% | -1.6% | 1.4× | 35 |
Peers = companies sharing ATRO's sector (Aircraft Parts & Auxiliary Equipment, NEC) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
No trend data available for this metric.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 2 positive fiscal years (FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $61.53 today, the market must believe free cash flow compounds 24.9%/yr for a decade (off $32.6M on the 3-yr avg basis).
On the basis ($24.9M) the requirement is 28.6%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 24.9% is more optimistic than its 8-yr track record.
Default is 8.6% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.04B shares (market data) · net debt $316.3M
mean -1.7% · volatility σ 90% · implied rate exceeded in 2/5 yrs
Central path = implied 24.9%/yr growth; shaded band = ±1σ (90%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $43.1M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 6%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
$0 of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2020-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-16
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $862.1M 100.0% | $795.4M 100.0% | $689.2M 100.0% | $534.9M 100.0% | $444.9M 100.0% | $502.6M 100.0% | $772.7M 100.0% | $803.3M 100.0% | $624.5M 100.0% | $633.1M 100.0% |
| Cost of Revenue | $604.0M 70.1% | $575.0M 72.3% | $514.7M 74.7% | $463.4M 86.6% | $379.5M 85.3% | $405.7M 80.7% | $616.6M 79.8% | $622.6M 77.5% | $487.4M 78.0% | $473.7M 74.8% |
| Cost of Products | — | — | — | — | — | — | — | — | $487.4M 78.0% | $473.7M 74.8% |
| Gross Profit | $258.2M 29.9% | $220.4M 27.7% | $174.5M 25.3% | $71.5M 13.4% | $65.4M 14.7% | $96.8M 19.3% | $156.1M 20.2% | $180.7M 22.5% | $137.1M 22.0% | $159.5M 25.2% |
| Research & Development | $43.5M 5.0% | $52.1M 6.5% | $53.7M 7.8% | $48.3M 9.0% | $43.3M 9.7% | $40.2M 8.0% | $108.9M 14.1% | $114.3M 14.2% | $95.0M 15.2% | $88.9M 14.0% |
| Selling, General & Admin | $138.3M 16.0% | $141.9M 17.8% | $127.5M 18.5% | $101.6M 19.0% | $99.1M 22.3% | $110.5M 22.0% | $143.4M 18.6% | $117.0M 14.6% | $88.8M 14.2% | $84.6M 13.4% |
| Operating Income | $76.4M 8.9% | $26.5M 3.3% | -$6.7M -1.0% | -$30.0M -5.6% | -$28.7M -6.4% | -$100.7M -20.0% | $1.7M 0.2% | $63.7M 7.9% | $32.1M 5.1% | $74.9M 11.8% |
| Other Income (Expense), net | $738K 0.1% | -$2.2M -0.3% | $261K 0.0% | -$1.6M -0.3% | — | — | — | — | — | — |
| Pretax Income | $31.9M 3.7% | -$7.9M -1.0% | -$26.3M -3.8% | -$29.8M -5.6% | -$27.0M -6.1% | -$112.4M -22.4% | $68.3M 8.8% | $52.3M 6.5% | $25.0M 4.0% | $68.8M 10.9% |
| Income Tax Expense | $2.6M 0.3% | $8.3M 1.0% | $110K 0.0% | $6.0M 1.1% | -$1.4M -0.3% | $3.4M 0.7% | $16.3M 2.1% | $5.5M 0.7% | $5.3M 0.9% | $20.4M 3.2% |
| Net Income | $29.4M 3.4% | -$16.2M -2.0% | -$26.4M -3.8% | -$35.7M -6.7% | -$25.6M -5.7% | -$115.8M -23.0% | $52.0M 6.7% | $46.8M 5.8% | $19.7M 3.2% | $48.4M 7.6% |
| Per Share | ||||||||||
| EPS (Basic) | $0.83 | -$0.46 | -$0.80 | -$1.11 | -$0.82 | -$3.76 | $1.62 | $1.45 | $0.60 | $1.44 |
| EPS (Diluted) | $0.81 | -$0.46 | -$0.80 | -$1.11 | -$0.82 | -$3.76 | $1.60 | $1.41 | $0.58 | $1.40 |
| Weighted Avg Shares (Basic) | 35.4M | 35.0M | 33.1M | 32.2M | 31.1M | 30.8M | 32.0M | 32.4M | 32.9M | 33.5M |
| Weighted Avg Shares (Diluted) | 36.5M | 35.0M | 33.1M | 32.2M | 31.1M | 30.8M | 32.5M | 33.1M | 33.7M | 34.5M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-16
Where each multiple sits in its own 14-yr range · 94th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 21% against ROIC 6% — 15% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 14.8% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 22.5× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 77.5 | 79.8 | 80.7 | 85.3 | 86.6 | 74.7 | 72.3 | 70.1 |
| Gross Profit | 22.5 | 20.2 | 19.3 | 14.7 | 13.4 | 25.3 | 27.7 | 29.9 |
| R&D | 14.2 | 14.1 | 8.0 | 9.7 | 9.0 | 7.8 | 6.5 | 5.0 |
| SG&A | 14.6 | 18.6 | 22.0 | 22.3 | 19.0 | 18.5 | 17.8 | 16.0 |
| Operating Income | 7.9 | 0.2 | -20.0 | -6.4 | -5.6 | -1.0 | 3.3 | 8.9 |
| Income Tax | 0.7 | 2.1 | 0.7 | -0.3 | 1.1 | 0.0 | 1.0 | 0.3 |
| Net Income | 5.8 | 6.7 | -23.0 | -5.7 | -6.7 | -3.8 | -2.0 | 3.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ATRO: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns 5.06pts above its cost of capital, without much margin of safety.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 0.3% | 8.6% (today's — no rate published for this year) | -8.4pts |
| FY2020 | -19.8% | 8.6% (today's — no rate published for this year) | -28.4pts |
| FY2021 | -6.0% | 8.6% (today's — no rate published for this year) | -14.6pts |
| FY2022 | -6.7% | 8.6% (today's — no rate published for this year) | -15.3pts |
| FY2023 | -1.4% | 8.6% (today's — no rate published for this year) | -10.0pts |
| FY2024 | 5.4% | 8.6% (today's — no rate published for this year) | -3.2pts |
| FY2025 | 13.6% | 8.6% (today's — no rate published for this year) | 4.9pts |
| Now | 6.2% | 8.6% | -2.4pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 25.2% | 11.8% | 7.6% |
| FY2017 | 22.0% | 5.1% | 3.2% |
| FY2018 | 22.5% | 7.9% | 5.8% |
| FY2019 | 20.2% | 0.2% | 6.7% |
| FY2020 | 19.3% | -20.0% | -23.0% |
| FY2021 | 14.7% | -6.4% | -5.7% |
| FY2022 | 13.4% | -5.6% | -6.7% |
| FY2023 | 25.3% | -1.0% | -3.8% |
| FY2024 | 27.7% | 3.3% | -2.0% |
| FY2025 | 29.9% | 8.9% | 3.4% |
Leverage and buybacks account for 15 points of the 21% return on equity in FY2025. The business earns 6% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$65M of goodwill — 13% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
The spread was positive in only 1 of the last 5 years.
Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Missing from our data, so excluded from this answer: 3 years of cash flow.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
This schedule comes from a filing dated 2020-12-31, 2115 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2020-12-31 (10-K); cash from the 2020-12-31 balance sheet; FCF from FY2020. No cash figure on the matching balance sheet, so no coverage line is drawn.
Balance sheet at 2020-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: interest_expense.
At $61.57, free cash flow must compound 25.1%/yr for 10 years. It has done 5.88%/yr over 6 years, though across a reporting-basis change.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | −2.4% | 25.1% |
| FY2021 | −138.7% | 25.1% |
| FY2025 | 94.8% | 25.1% |
The achieved growth rate spans a reporting-basis change in FY2023, so part of it measures the restatement rather than the business.