NasdaqGS:ATRO

Stock Analysis Report

Executive Summary

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defence, and electronic industries in the United States, North America, Asia, Europe, South America, and internationally.

Snowflake

Fundamentals

Flawless balance sheet with solid track record.


Similar Companies

Share Price & News

How has Astronics's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

5.1%

ATRO

-0.2%

US Aerospace & Defense

1.8%

US Market


1 Year Return

-7.5%

ATRO

8.1%

US Aerospace & Defense

7.3%

US Market

Return vs Industry: ATRO underperformed the US Aerospace & Defense industry which returned 8.1% over the past year.

Return vs Market: ATRO underperformed the US Market which returned 7.3% over the past year.


Shareholder returns

ATROIndustryMarket
7 Day5.1%-0.2%1.8%
30 Day-2.4%-3.2%-0.7%
90 Day-19.8%3.7%0.06%
1 Year-7.5%-7.5%10.2%8.1%9.7%7.3%
3 Year-2.5%-2.5%60.7%52.0%46.3%36.9%
5 Year2.5%2.5%95.5%77.1%64.5%46.5%

Price Volatility Vs. Market

How volatile is Astronics's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Astronics undervalued compared to its fair value and its price relative to the market?

8.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: ATRO ($30.41) is trading above our estimate of fair value ($15.39)

Significantly Undervalued: ATRO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ATRO is good value based on its PE Ratio (8.6x) compared to the Aerospace & Defense industry average (22.4x).

PE vs Market: ATRO is good value based on its PE Ratio (8.6x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: ATRO's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ATRO is good value based on its PB Ratio (2.1x) compared to the US Aerospace & Defense industry average (2.4x).


Next Steps

Future Growth

How is Astronics forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-36.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ATRO's earnings are forecast to decline over the next 3 years (-36.3% per year).

Earnings vs Market: ATRO's earnings are forecast to decline over the next 3 years (-36.3% per year).

High Growth Earnings: ATRO's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ATRO's revenue (2% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: ATRO's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if ATRO's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Astronics performed over the past 5 years?

2.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ATRO's earnings have grown by 2.9% per year over the past 5 years.

Accelerating Growth: ATRO's earnings growth over the past year (547.7%) exceeds its 5-year average (2.9% per year).

Earnings vs Industry: ATRO earnings growth over the past year (547.7%) exceeded the Aerospace & Defense industry 12.2%.


Return on Equity

High ROE: ATRO's Return on Equity (24.1%) is considered high.


Return on Assets

ROA vs Industry: ATRO has a higher Return on Assets than the Aerospace & Defense industry average last year.


Return on Capital Employed

ROCE Improving: ATRO's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Astronics's financial position?


Financial Position Analysis

Short Term Liabilities: ATRO's short term assets ($354.6M) exceeds its short term liabilities ($119.6M)

Long Term Liabilities: ATRO's short term assets (354.6M) exceeds its long term liabilities (172.7M)


Debt to Equity History and Analysis

Debt Level: ATRO's debt to equity ratio (25.7%) is considered satisfactory

Reducing Debt: ATRO's debt to equity ratio has reduced from 125.6% to 25.7% over the past 5 years.

Debt Coverage: ATRO's debt is well covered by operating cash flow (45.7%).

Interest Coverage: ATRO's interest payments on its debt are well covered by EBIT (8.3x coverage).


Balance Sheet

Inventory Level: ATRO has a high level of physical assets or inventory.

Debt Coverage by Assets: ATRO's debt is covered by short term assets (assets are 2.900220x debt).


Next Steps

Dividend

What is Astronics's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.7%industryaverage1.8%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate ATRO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ATRO's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if ATRO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ATRO's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ATRO's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Astronics's salary, the management and board of directors tenure and is there insider trading?

9.8yrs

Average management tenure


CEO

Peter Gundermann (56yo)

16.6yrs

Tenure

US$1,730,351

Compensation

Mr. Peter J. Gundermann has been the Chief Executive Officer and President of Astronics Corporation since March 18, 2003 and has been its Chairman since June 11, 2019. He served as President of Luminescent ...


CEO Compensation Analysis

Compensation vs. Market: Peter's total compensation ($USD1.73M) is about average for companies of similar size in the US market ($USD2.67M).

Compensation vs Earnings: Peter's compensation has been consistent with company performance over the past year.


Management Age and Tenure

9.8yrs

Average Tenure

56yo

Average Age

Experienced Management: ATRO's management team is seasoned and experienced (9.8 years average tenure).


Board Age and Tenure

3.0yrs

Average Tenure

61.5yo

Average Age

Experienced Board: ATRO's board of directors are considered experienced (3 years average tenure).


Insider Trading

Insider Buying: ATRO insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

SellUS$104,80016 Aug 19
David Burney
EntityIndividual
Role
Chief Financial Officer
Executive VP of Finance
Shares4,000
Max PriceUS$26.20
BuyUS$2,74606 Aug 19
Nancy Hedges
EntityIndividual
Role
Chief Accounting Officer
Corporate Controller & Principal Accounting Officer
Shares100
Max PriceUS$27.46

Ownership Breakdown


Management Team

  • Peter Gundermann (56yo)

    Chairman

    • Tenure: 16.6yrs
    • Compensation: US$1.73m
  • David Burney (56yo)

    Executive VP of Finance

    • Tenure: 16.6yrs
    • Compensation: US$783.33k
  • James Kramer (55yo)

    Executive Vice President

    • Tenure: 9.8yrs
    • Compensation: US$675.58k
  • Jim Mulato (58yo)

    Executive VP & President of Astronics Test Systems Inc

    • Tenure: 0.8yrs
    • Compensation: US$807.17k
  • Mark Peabody (60yo)

    EVP, President of Astronics Adv. Electronic Systems Corp. & Astronics Custom Control Concepts Inc.

    • Tenure: 9.8yrs
    • Compensation: US$907.09k
  • Nancy Hedges (45yo)

    Corporate Controller & Principal Accounting Officer

    • Tenure: 0yrs
  • Michael Kuehn (58yo)

    Executive VP and President of Astronics Connectivity & Certification Systems

    • Tenure: 2.8yrs

Board Members

  • Robert Brady (78yo)

    Independent Director

    • Tenure: 29.8yrs
    • Compensation: US$129.76k
  • Warren Johnson (60yo)

    Independent Director

    • Tenure: 3yrs
    • Compensation: US$129.76k
  • Jeff Frisby (63yo)

    Independent Director

    • Tenure: 3yrs
    • Compensation: US$129.76k
  • Peter Gundermann (56yo)

    Chairman

    • Tenure: 16.6yrs
    • Compensation: US$1.73m
  • Raymond Boushie (79yo)

    Lead Director

    • Tenure: 3.3yrs
    • Compensation: US$129.76k
  • Mark Moran (63yo)

    Independent Director

    • Tenure: 0.8yrs
  • Neil Kim (60yo)

    Independent Director

    • Tenure: 3yrs
    • Compensation: US$129.76k
  • Tonit Calaway (51yo)

    Director

    • Tenure: 0.08yrs

Company Information

Astronics Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Astronics Corporation
  • Ticker: ATRO
  • Exchange: NasdaqGS
  • Founded: 1968
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Market Cap: US$996.030m
  • Shares outstanding: 32.68m
  • Website: https://www.astronics.com

Number of Employees


Location

  • Astronics Corporation
  • 130 Commerce Way
  • East Aurora
  • New York
  • 14052
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ATRONasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDDec 1972
AC1DB (Deutsche Boerse AG)YesCommon StockDEEURDec 1972
ATRO.BOTCPK (Pink Sheets LLC)Convertible Class B Common StockUSUSDDec 1990

Biography

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defence, and electronic industries in the United States, North America, Asia, Europe, South America, an ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/17 23:31
End of Day Share Price2019/10/17 00:00
Earnings2019/06/29
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.