Astronics Corporation

astronics.com

What Do They Do?

Builds electrical power and seat-motion systems, lighting and safety products, and automated test systems for aircraft makers, airlines and aircraft operators, and defense and government contractors.

Who Are Their Customers?

Aircraft manufacturers and suppliers, airlines and other aircraft operators, and U.S. defense branches buy aerospace products through contracts or purchase orders. Test Systems sells to manufacturers, prime government contractors, and mass transit customers, often on large projects.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2023: 11% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 5 cents into free cash flow.

Operating income, FY2025

9% of revenue

▲ +189% vs FY2024 ($26.5M, 3%)

Net income, FY2025

3% of revenue

▲ Now profitable vs FY2024 (−$16.2M, −2%)

Free cash flow, FY2025

5% of revenue

▲ +95% vs FY2024 ($22.1M, 3%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jul 4, 2026

Revenue: ▲ +27%; vs $204.7M in Q2 FY2025
Net income: ▲ +2568%; vs $1.3M in Q2 FY2025

Aerospace share of revenue vs 94.6% in Q2 FY2025

Aug 11, 2026 Raised 2026 revenue guidance to $1.02 billion to $1.04 billion

Revenue over time

Aerospace Test Systems Segment Other Commercial Transport General Aviation Government & Defense Military Aircraft

$1B$500M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Comments