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Stocks · Materials · Rolling Drawing & Extruding of Nonferrous Metals

Howmet Aerospace

HWM Clue Score71
United States Fiscal year ends December CIK 0000004281
$225.26 +1.21% Close, 9 Oct 2026
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Price $225.26 +616.93% 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 2016Revenue12.39Operating income0.95Net income−0.94EPS, diluted−2.31Fiscal year 2017Revenue12.96 +4.6%Operating income0.48Net income−0.07EPS, diluted−0.28Fiscal year 2018Revenue6.78 −47.7%Operating income0.78Net income0.64EPS, diluted1.30Fiscal year 2019Revenue7.10 +4.7%Operating income0.58Net income0.47 −26.8%EPS, diluted1.03 −20.8%Fiscal year 2020Revenue5.26 −25.9%Operating income0.63Net income0.26 −44.5%EPS, diluted0.48 −53.4%Fiscal year 2021Revenue4.97 −5.5%Operating income0.75Net income0.26 −1.1%EPS, diluted0.59 +22.9%Fiscal year 2022Revenue5.66 +13.9%Operating income0.92Net income0.47 +81.8%EPS, diluted1.11 +88.1%Fiscal year 2023Revenue6.64 +17.3%Operating income1.20Net income0.77 +63.1%EPS, diluted1.83 +64.9%Fiscal year 2024Revenue7.43 +11.9%Operating income1.63Net income1.16 +51.0%EPS, diluted2.81 +53.6%Fiscal year 2025Revenue8.25 +11.1%Operating income2.05Net income1.51 +30.6%EPS, diluted3.71 +32.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 12.39 12.96 6.78 7.10 5.26 4.97 5.66 6.64 7.43 8.25
Growth +4.6% −47.7% +4.7% −25.9% −5.5% +13.9% +17.3% +11.9% +11.1%
Operating income 0.95 0.48 0.78 0.58 0.63 0.75 0.92 1.20 1.63 2.05
Net income −0.94 −0.07 0.64 0.47 0.26 0.26 0.47 0.77 1.16 1.51
Growth −26.8% −44.5% −1.1% +81.8% +63.1% +51.0% +30.6%
EPS, diluted −2.31 −0.28 1.30 1.03 0.48 0.59 1.11 1.83 2.81 3.71
Growth −20.8% −53.4% +22.9% +88.1% +64.9% +53.6% +32.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin7.7%Net margin−7.6%Free cash flow margin−8.3%Fiscal year 2017Operating margin3.7%Net margin−0.6%Free cash flow margin−4.9%Fiscal year 2018Operating margin11.4%Net margin9.5%Free cash flow margin−8.1%Fiscal year 2019Operating margin8.2%Net margin6.6%Free cash flow margin−2.5%Fiscal year 2020Operating margin11.9%Net margin5.0%Free cash flow margin−4.9%Fiscal year 2021Operating margin15.0%Net margin5.2%Free cash flow margin5.0%Fiscal year 2022Operating margin16.2%Net margin8.3%Free cash flow margin9.5%Fiscal year 2023Operating margin18.1%Net margin11.5%Free cash flow margin10.3%Fiscal year 2024Operating margin22.0%Net margin15.5%Free cash flow margin13.1%Fiscal year 2025Operating margin24.8%Net margin18.3%Free cash flow margin17.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 7.7% 3.7% 11.4% 8.2% 11.9% 15.0% 16.2% 18.1% 22.0% 24.8%
Net margin −7.6% −0.6% 9.5% 6.6% 5.0% 5.2% 8.3% 11.5% 15.5% 18.3%
Free cash flow margin −8.3% −4.9% −8.1% −2.5% −4.9% 5.0% 9.5% 10.3% 13.1% 17.3%

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 2016Operating cash flow0.10Capital expenditure−1.13Free cash flow−1.03Fiscal year 2017Operating cash flow−0.04Capital expenditure−0.60Free cash flow−0.64Buybacks0.00Fiscal year 2018Operating cash flow0.22Capital expenditure−0.77Free cash flow−0.55Buybacks0.00Fiscal year 2019Operating cash flow0.46Capital expenditure−0.64Free cash flow−0.18Buybacks−1.15Fiscal year 2020Operating cash flow0.01Capital expenditure−0.27Free cash flow−0.26Buybacks−0.07Fiscal year 2021Operating cash flow0.45Capital expenditure−0.20Free cash flow0.25Buybacks−0.43Fiscal year 2022Operating cash flow0.73Capital expenditure−0.19Free cash flow0.54 +116.0%Buybacks−0.40Fiscal year 2023Operating cash flow0.90Capital expenditure−0.22Free cash flow0.68 +26.3%Buybacks−0.25Fiscal year 2024Operating cash flow1.30Capital expenditure−0.32Free cash flow0.98 +43.3%Buybacks−0.50Fiscal year 2025Operating cash flow1.88Capital expenditure−0.45Free cash flow1.43 +46.5%Buybacks−0.70
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.10 −0.04 0.22 0.46 0.01 0.45 0.73 0.90 1.30 1.88
Capital expenditure −1.13 −0.60 −0.77 −0.64 −0.27 −0.20 −0.19 −0.22 −0.32 −0.45
Free cash flow −1.03 −0.64 −0.55 −0.18 −0.26 0.25 0.54 0.68 0.98 1.43
Growth +116.0% +26.3% +43.3% +46.5%
Buybacks n/a 0.00 0.00 −1.15 −0.07 −0.43 −0.40 −0.25 −0.50 −0.70

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash1.86Total debt8.05Net cash (debt)−6.19Shareholders’ equity5.12Debt to equity1.57Fiscal year 2017Cash2.15Total debt6.81Net cash (debt)−4.66Shareholders’ equity4.91Debt to equity1.39Fiscal year 2018Cash2.28Total debt6.30Net cash (debt)−4.02Shareholders’ equity5.57Debt to equity1.13Fiscal year 2019Cash1.58Total debt5.94Net cash (debt)−4.36Shareholders’ equity4.59Debt to equity1.29Fiscal year 2020Cash1.61Total debt5.08Net cash (debt)−3.47Shareholders’ equity3.58Debt to equity1.42Fiscal year 2021Cash0.72Total debt4.23Net cash (debt)−3.51Shareholders’ equity3.51Debt to equity1.21Fiscal year 2022Cash0.79Total debt4.16Net cash (debt)−3.37Shareholders’ equity3.60Debt to equity1.16Fiscal year 2023Cash0.61Total debt3.71Net cash (debt)−3.10Shareholders’ equity4.04Debt to equity0.92Fiscal year 2024Cash0.56Total debt3.32Net cash (debt)−2.75Shareholders’ equity4.55Debt to equity0.73Fiscal year 2025Cash0.74Total debt3.05Net cash (debt)−2.31Shareholders’ equity5.35Debt to equity0.57
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.86 2.15 2.28 1.58 1.61 0.72 0.79 0.61 0.56 0.74
Total debt 8.05 6.81 6.30 5.94 5.08 4.23 4.16 3.71 3.32 3.05
Net cash (debt) −6.19 −4.66 −4.02 −4.36 −3.47 −3.51 −3.37 −3.10 −2.75 −2.31
Shareholders’ equity 5.12 4.91 5.57 4.59 3.58 3.51 3.60 4.04 4.55 5.35
Debt to equity 1.57 1.39 1.13 1.29 1.42 1.21 1.16 0.92 0.73 0.57

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

Financial statements FY2025 · 10-K

Income statement

In billions 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 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
12.39 12.96 6.78 7.10 5.26 4.97 5.66 6.64 7.43 8.25
Growth +4.6% −47.7% +4.7% −25.9% −5.5% +13.9% +17.3% +11.9% +11.1%
0.13 0.11 0.04 0.03 0.02 0.02 0.03 0.04 0.03 0.04
0.92 0.72 0.37 0.40 0.28 0.25 0.29 0.33 0.35 0.37
0.95 0.48 0.78 0.58 0.63 0.75 0.92 1.20 1.63 2.05
Growth −49.7% +61.5% −25.3% +8.1% +19.5% +22.9% +30.9% +35.7% +25.3%
0.41 0.47 0.43 0.21 0.17 0.32 0.61 0.98 1.38 1.84
1.48 0.54 0.12 0.08 −0.04 0.07 0.14 0.21 0.23 0.33
−0.94 −0.07 0.64 0.47 0.26 0.26 0.47 0.77 1.16 1.51
Growth −26.8% −44.5% −1.1% +81.8% +63.1% +51.0% +30.6%
Per share
−2.31 −0.28 1.33 1.05 0.48 0.60 1.12 1.85 2.83 3.73
−2.31 −0.28 1.30 1.03 0.48 0.59 1.11 1.83 2.81 3.71
Growth −20.8% −53.4% +22.9% +88.1% +64.9% +53.6% +32.0%
438.0 451.0 483.0 446.0 435.0 430.0 416.0 412.0 408.0 404.0
438.0 451.0 503.0 463.0 439.0 435.0 421.0 416.0 410.0 406.0
Growth +3.0% +11.5% −8.0% −5.2% −0.9% −3.2% −1.2% −1.4% −1.0%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 9.4% a year over five years, and earnings per share grew 50.5% a year.
  • The diluted share count fell 7.5% in five years, so buybacks did some of the work per share.
  • Operating margin is up 12.9 points on five years ago, at 24.8%.
  • A net loss in 2 of 10 years on file.