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Stocks · Materials · Steel Pipe & Tubes

ATI INC

ATI Clue Score66
United States Fiscal year ends December CIK 0001018963
$191.84 +1.97% Close, 9 Oct 2026
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Price $191.84 +1,035.82% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Revenue4,046.6Operating income362.1Net income222.4EPS, diluted1.61Fiscal year 2019Revenue4,122.5 +1.9%Operating income366.3Net income252.5 +13.5%EPS, diluted1.81 +12.4%Fiscal year 2020Revenue2,982.1 −27.7%Operating income−1,302.7Net income−1,572.6 −722.8%EPS, diluted−12.43 −786.7%Fiscal year 2021Revenue2,799.8 −6.1%Operating income117.6Net income−38.2EPS, diluted−0.30Fiscal year 2022Revenue2,799.8 +0.0%Operating income117.6Net income184.6EPS, diluted1.32Fiscal year 2022Revenue3,836.0 +37.0%Operating income287.3Net income130.9 −29.1%EPS, diluted0.96 −27.3%Fiscal year 2023Revenue3,836.0 +0.0%Operating income316.1Net income323.5 +147.1%EPS, diluted2.23 +132.3%Fiscal year 2023Revenue4,173.7 +8.8%Operating income466.4Net income410.8 +27.0%EPS, diluted2.81 +26.0%Fiscal year 2024Revenue4,362.1 +4.5%Operating income608.9Net income367.8 −10.5%EPS, diluted2.55 −9.3%Fiscal year 2025Revenue4,587.4 +5.2%Operating income640.9Net income404.3 +9.9%EPS, diluted2.85 +11.8%
FY2018FY2019FY2020FY2021FY2022FY2022FY2023FY2023FY2024FY2025
Revenue 4,046.6 4,122.5 2,982.1 2,799.8 2,799.8 3,836.0 3,836.0 4,173.7 4,362.1 4,587.4
Growth +1.9% −27.7% −6.1% +0.0% +37.0% +0.0% +8.8% +4.5% +5.2%
Operating income 362.1 366.3 −1,302.7 117.6 117.6 287.3 316.1 466.4 608.9 640.9
Net income 222.4 252.5 −1,572.6 −38.2 184.6 130.9 323.5 410.8 367.8 404.3
Growth +13.5% −722.8% −29.1% +147.1% +27.0% −10.5% +9.9%
EPS, diluted 1.61 1.81 −12.43 −0.30 1.32 0.96 2.23 2.81 2.55 2.85
Growth +12.4% −786.7% −27.3% +132.3% +26.0% −9.3% +11.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Gross margin15.6%Operating margin8.9%Net margin5.5%Free cash flow margin6.3%Fiscal year 2019Gross margin15.5%Operating margin8.9%Net margin6.1%Free cash flow margin1.5%Fiscal year 2020Gross margin9.8%Operating margin−43.7%Net margin−52.7%Free cash flow margin1.0%Fiscal year 2021Gross margin11.9%Operating margin4.2%Net margin−1.4%Free cash flow margin−4.9%Fiscal year 2022Gross margin11.9%Operating margin4.2%Net margin6.6%Free cash flow margin−4.9%Fiscal year 2022Gross margin18.6%Operating margin7.5%Net margin3.4%Free cash flow margin2.5%Fiscal year 2023Gross margin18.6%Operating margin8.2%Net margin8.4%Free cash flow margin2.5%Fiscal year 2023Gross margin19.2%Operating margin11.2%Net margin9.8%Free cash flow margin−2.8%Fiscal year 2024Gross margin20.6%Operating margin14.0%Net margin8.4%Free cash flow margin3.9%Fiscal year 2025Gross margin22.0%Operating margin14.0%Net margin8.8%Free cash flow margin7.3%
FY2018FY2019FY2020FY2021FY2022FY2022FY2023FY2023FY2024FY2025
Gross margin 15.6% 15.5% 9.8% 11.9% 11.9% 18.6% 18.6% 19.2% 20.6% 22.0%
Operating margin 8.9% 8.9% −43.7% 4.2% 4.2% 7.5% 8.2% 11.2% 14.0% 14.0%
Net margin 5.5% 6.1% −52.7% −1.4% 6.6% 3.4% 8.4% 9.8% 8.4% 8.8%
Free cash flow margin 6.3% 1.5% 1.0% −4.9% −4.9% 2.5% 2.5% −2.8% 3.9% 7.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow392.8Capital expenditure−139.2Free cash flow253.6Dividends paid0.0Fiscal year 2019Operating cash flow230.1Capital expenditure−168.2Free cash flow61.9 −75.6%Dividends paid0.0Fiscal year 2020Operating cash flow166.9Capital expenditure−136.5Free cash flow30.4 −50.9%Buybacks0.0Fiscal year 2021Operating cash flow16.1Capital expenditure−152.6Free cash flow−136.5 −549.0%Buybacks0.0Fiscal year 2022Operating cash flow16.1Capital expenditure−152.6Free cash flow−136.5Buybacks0.0Fiscal year 2022Operating cash flow224.9Capital expenditure−130.9Free cash flow94.0Buybacks−139.9Fiscal year 2023Operating cash flow224.9Capital expenditure−130.9Free cash flow94.0 +0.0%Buybacks−139.9Fiscal year 2023Operating cash flow85.9Capital expenditure−200.7Free cash flow−114.8 −222.1%Buybacks−85.2Fiscal year 2024Operating cash flow407.2Capital expenditure−239.1Free cash flow168.1Buybacks−260.0Fiscal year 2025Operating cash flow614.3Capital expenditure−280.6Free cash flow333.7 +98.5%Buybacks−470.0
FY2018FY2019FY2020FY2021FY2022FY2022FY2023FY2023FY2024FY2025
Operating cash flow 392.8 230.1 166.9 16.1 16.1 224.9 224.9 85.9 407.2 614.3
Capital expenditure −139.2 −168.2 −136.5 −152.6 −152.6 −130.9 −130.9 −200.7 −239.1 −280.6
Free cash flow 253.6 61.9 30.4 −136.5 −136.5 94.0 94.0 −114.8 168.1 333.7
Growth −75.6% −50.9% −549.0% +0.0% −222.1% +98.5%
Buybacks n/a n/a 0.0 0.0 0.0 −139.9 −139.9 −85.2 −260.0 −470.0
Dividends paid 0.0 0.0 n/a n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2018Cash382.0Shareholders’ equity1,885.7Fiscal year 2019Cash490.8Shareholders’ equity2,090.1Fiscal year 2020Cash645.9Shareholders’ equity521.1Fiscal year 2021Cash687.7Shareholders’ equity685.6Fiscal year 2022Cash687.7Shareholders’ equity832.7Fiscal year 2022Cash584.0Shareholders’ equity1,045.9Fiscal year 2023Cash584.0Shareholders’ equity1,045.9Fiscal year 2023Cash743.9Shareholders’ equity1,373.0Fiscal year 2024Cash721.2Shareholders’ equity1,850.4Fiscal year 2025Cash416.7Shareholders’ equity1,804.5
FY2018FY2019FY2020FY2021FY2022FY2022FY2023FY2023FY2024FY2025
Cash 382.0 490.8 645.9 687.7 687.7 584.0 584.0 743.9 721.2 416.7
Shareholders’ equity 1,885.7 2,090.1 521.1 685.6 832.7 1,045.9 1,045.9 1,373.0 1,850.4 1,804.5

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 2 Jan 2022 FY2022 31 Dec 2022 FY2023 1 Jan 2023 FY2023 31 Dec 2023 FY2024 29 Dec 2024 FY2025 28 Dec 2025
Revenue and profit
3,134.6 3,525.1 4,046.6 4,122.5 2,982.1 2,799.8 2,799.8 3,836.0 3,836.0 4,173.7 4,362.1 4,587.4
Growth +12.5% +14.8% +1.9% −27.7% −6.1% +0.0% +37.0% +0.0% +8.8% +4.5% +5.2%
2,911.8 3,028.1 3,416.3 3,484.5 2,689.3 2,466.6 2,466.6 3,121.8 3,121.8 3,371.1 3,463.9 3,580.4
222.8 497.0 630.3 638.0 292.8 333.2 333.2 714.2 714.2 802.6 898.2 1,007.0
Growth +123.1% +26.8% +1.2% −54.1% +13.8% +0.0% +114.3% +0.0% +12.4% +11.9% +12.1%
14.7 13.3 22.7 17.8 14.1 16.5 16.5 16.3 16.3 20.7 19.6 21.3
240.8 248.0 268.2 267.2 201.0 226.9 226.9 297.5 297.5 328.1 342.3 365.1
−541.8 134.6 362.1 366.3 −1,302.7 117.6 117.6 287.3 316.1 466.4 608.9 640.9
Growth +169.0% +1.2% −455.6% +0.0% +144.3% +10.0% +47.5% +30.6% +5.3%
−734.0 −86.5 247.7 236.5 −1,481.9 10.6 233.4 162.0 354.6 295.2 486.1 522.3
−106.9 −6.8 11.0 −28.5 77.7 26.8 26.8 15.5 15.5 −128.2 103.4 103.7
−640.9 −91.9 222.4 252.5 −1,572.6 −38.2 184.6 130.9 323.5 410.8 367.8 404.3
Growth +13.5% −722.8% −29.1% +147.1% +27.0% −10.5% +9.9%
Per share
−5.97 −0.83 1.78 2.01 −12.43 −0.30 1.45 1.03 2.54 3.21 2.82 2.92
−5.97 −0.83 1.61 1.81 −12.43 −0.30 1.32 0.96 2.23 2.81 2.55 2.85
Growth +12.4% −786.7% −27.3% +132.3% +26.0% −9.3% +11.8%
107.3 110.1 125.2 125.8 126.5 127.1 127.1 127.5 127.5 128.1 130.4 138.6
107.3 110.1 145.9 146.5 126.5 127.1 152.7 151.2 151.2 150.0 146.6 141.8
Growth +2.6% +32.5% +0.4% −13.7% +0.5% +20.1% −1.0% +0.0% −0.8% −2.3% −3.3%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 10.4% a year over five years, and earnings per share grew 16.6% a year.
  • The diluted share count fell 7.1% in five years, so buybacks did some of the work per share.
  • Operating margin is up 9.8 points on five years ago, at 14.0%.
  • A net loss in 4 of 12 years on file.