Howmet Aerospace Inc. HWM

Basic materials SIC 3350 - Rolling Drawing & Extruding of Nonferrous Metals NAICS Manufacturing › Primary Metal Manufacturing derived NYSE

Howmet Aerospace Inc. is a Delaware corporation with its principal office in Pittsburgh, Pennsylvania. In this report, unless the context otherwise requires, "Howmet", the "Company", "we", "us", and "our" refer to Howmet Aerospace Inc. and its consolidated subsidiaries.

The Company's Internet address is https://www.howmet.com. Howmet makes available free of charge on or through its website its annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as well as proxy statements, as soon as reasonably practicable after the Company electronically files such material with, or furnishes it to, the Securities and Exchange Commission ("SEC"). The Company's website is included in this annual report on Form 10-K as an inactive textual reference only. The information on, or accessible through, the Company's website is not a part of, or incorporated by reference in, this annual report on Form 10-K. The SEC maintains an Internet site that contains these reports at https://www.sec.gov.

Last close 185.91 2026-10-23
Market cap $74.14B 2026-06-30 share count
52-week range 183.52 - 310.00

Valuation FY2025 figures against the last close

P/S9.0x
P/E50.1x
P/FCF51.8x
EV/EBITDA32.8x
Dividend yield—
Diluted EPS3.71

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Other
  • France
  • Japan
  • Germany
  • United Kingdom
  • Italy
  • Canada
  • Mexico
  • Poland
  • China
Revenue by geography, 11 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 4.4B (53.0%) 53% United States Other, FY2025: 1B (12.4%) 12% Other France, FY2025: 625M (7.6%) 8% France Japan, FY2025: 513M (6.2%) 6% Japan Germany, FY2025: 439M (5.3%) 5% Germany United Kingdom, FY2025: 376M (4.6%) 5% Italy, FY2025: 264M (3.2%) Canada, FY2025: 187M (2.3%) Mexico, FY2025: 166M (2.0%) Poland, FY2025: 150M (1.8%) China, FY2025: 130M (1.6%) FY2024 United States, FY2024: 3.7B (50.0%) 50% Other, FY2024: 940M (12.7%) 13% France, FY2024: 678M (9.1%) 9% Japan, FY2024: 355M (4.8%) 5% Germany, FY2024: 458M (6.2%) 6% United Kingdom, FY2024: 350M (4.7%) 5% Italy, FY2024: 287M (3.9%) 4% Canada, FY2024: 174M (2.3%) Mexico, FY2024: 220M (3.0%) Poland, FY2024: 152M (2.0%) China, FY2024: 103M (1.4%) FY2023 United States, FY2023: 3.3B (49.3%) 49% Other, FY2023: 909M (13.7%) 14% France, FY2023: 578M (8.7%) 9% Japan, FY2023: 378M (5.7%) 6% Germany, FY2023: 363M (5.5%) 5% United Kingdom, FY2023: 283M (4.3%) 4% Italy, FY2023: 220M (3.3%) Canada, FY2023: 145M (2.2%) Mexico, FY2023: 263M (4.0%) 4% Poland, FY2023: 130M (2.0%) China, FY2023: 98M (1.5%)
Region FY2025FY2024FY2023
United States $4.38B $3.71B $3.27B
Other $1.02B $940.0M $909.0M
France $625.0M $678.0M $578.0M
Japan $513.0M $355.0M $378.0M
Germany $439.0M $458.0M $363.0M
United Kingdom $376.0M $350.0M $283.0M
Italy $264.0M $287.0M $220.0M
Canada $187.0M $174.0M $145.0M
Mexico $166.0M $220.0M $263.0M
Poland $150.0M $152.0M $130.0M
China $130.0M $103.0M $98.0M

As the company reported it, from the “Segment and Geographic Area Information - Schedule of Geographic Information for Sales (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Engine Products
  • Fastening Systems
  • Engineered Structures
  • Forged Wheels
Revenue by segment, 4 categories over 3 years. The same figures are in the table below. FY2025 Engine Products, FY2025: 4.3B (52.4%) 52% Engine Products Fastening Systems, FY2025: 1.7B (21.1%) 21% Fastening Systems Engineered Structures, FY2025: 1.1B (13.9%) 14% Forged Wheels, FY2025: 1B (12.6%) 13% Forged Wheels FY2024 Engine Products, FY2024: 3.7B (50.3%) 50% Fastening Systems, FY2024: 1.6B (21.2%) 21% Engineered Structures, FY2024: 1.1B (14.3%) 14% Forged Wheels, FY2024: 1.1B (14.2%) 14% FY2023 Engine Products, FY2023: 3.3B (49.2%) 49% Fastening Systems, FY2023: 1.3B (20.3%) 20% Engineered Structures, FY2023: 878M (13.2%) 13% Forged Wheels, FY2023: 1.1B (17.3%) 17%
Segment FY2025FY2024FY2023
Engine Products $4.32B $3.73B $3.27B
Fastening Systems $1.75B $1.58B $1.35B
Engineered Structures $1.15B $1.06B $878.0M
Forged Wheels $1.04B $1.05B $1.15B

As the company reported it, from the “Segment and Geographic Area Information - Schedule of Operating Results of Reportable Segment (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $8.25B$7.43B$6.64B$5.66B$4.97B$5.26B$7.10B$6.78B$12.96B$12.39B
R&D $37.0M$33.0M$36.0M$32.0M$17.0M$17.0M$28.0M$41.0M$109.0M$130.0M
SG&A $370.0M$347.0M$333.0M$288.0M$251.0M$277.0M$400.0M$371.0M$715.0M$924.0M
Total operating expenses —————————$11.98B
Operating income $2.05B$1.63B$1.20B$919.0M$748.0M$626.0M$579.0M$775.0M$480.0M$954.0M
Interest expense ——$218.0M$229.0M$259.0M$317.0M$338.0M$377.0M$496.0M$499.0M
Pre-tax income $1.84B$1.38B$975.0M$606.0M$324.0M$171.0M$210.0M$428.0M$470.0M$414.0M
Income tax $332.0M$228.0M$210.0M$137.0M$66.0M$40.0M$84.0M$119.0M$544.0M$1.48B
Net income $1.51B$1.16B$765.0M$469.0M$258.0M$261.0M$470.0M$642.0M-$74.0M-$941.0M
EPS, basic 3.732.831.851.120.60—1.051.33-0.28-2.31
EPS, diluted 3.712.811.831.110.59—1.031.30-0.28-2.31
Shares, diluted (wtd. avg.) 406.0M410.0M416.0M421.0M435.0M439.0M463.0M503.0M451.0M438.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $742.0M$564.0M$610.0M$792.0M$722.0M$1.61B$1.70B$2.28B$2.15B$1.88B
Receivables $779.0M$689.0M$675.0M$506.0M$367.0M$328.0M$583.0M$1.05B$1.03B$974.0M
Inventory $1.85B$1.84B$1.76B$1.61B$1.40B$1.49B$1.61B$2.49B$2.48B$2.25B
Total current assets $3.78B$3.36B$3.32B$3.14B$2.74B$3.67B$5.84B$6.58B$6.38B$5.89B
Property, plant and equipment $2.59B$2.39B$2.33B$2.33B$2.47B$2.59B$2.63B$5.70B$5.59B$5.50B
Goodwill $4.02B$4.01B$4.04B$4.01B$4.07B$4.10B$4.07B$4.19B$4.54B$5.15B
Other intangibles $457.0M$475.0M$505.0M$521.0M$549.0M$571.0M$599.0M$919.0M$987.0M$988.0M
Total assets $11.18B$10.52B$10.43B$10.26B$10.22B$11.44B$17.56B$18.69B$18.72B$20.04B
Accounts payable $845.0M$948.0M$982.0M$962.0M$732.0M$599.0M$976.0M$2.13B$1.84B$1.74B
Short-term debt $191.0M$6.0M$206.0M$0$5.0M$376.0M$1.03B$405.0M$1.0M$4.0M
Total current liabilities $1.77B$1.55B$1.78B$1.48B$1.25B$1.66B$4.12B$3.52B$2.82B$2.75B
Long-term debt $2.86B$3.31B$3.50B$4.16B$4.23B$4.70B$4.91B$5.90B$6.81B$8.04B
Total liabilities $5.83B$5.96B$6.39B$6.65B$6.71B$7.87B$12.96B$13.11B$13.79B$14.90B
Retained earnings $4.09B$2.77B$1.72B$1.03B$603.0M$364.0M$113.0M-$358.0M-$1.25B-$1.03B
Total equity $5.35B$4.55B$4.04B$3.60B$3.51B$3.58B$4.61B$5.57B$4.91B$5.14B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.88B$1.30B$901.0M$733.0M$449.0M$9.0M$461.0M$217.0M-$39.0M$95.0M
Depreciation and amortisation $283.0M$277.0M$272.0M$265.0M$270.0M$338.0M$536.0M$576.0M$551.0M$1.13B
Stock-based compensation $73.0M$63.0M$50.0M$54.0M$40.0M$46.0M$69.0M$40.0M$54.0M$76.0M
Capital expenditure $453.0M$321.0M$219.0M$193.0M$199.0M$267.0M$641.0M$768.0M$596.0M$1.12B
Investing cash flow -$438.0M-$316.0M-$215.0M-$135.0M$107.0M$271.0M$528.0M$565.0M$1.32B$591.0M
Financing cash flow -$1.27B-$1.03B-$868.0M-$526.0M-$1.44B-$369.0M-$1.57B-$649.0M-$1.01B-$757.0M
Buybacks $700.0M$500.0M$250.0M$400.0M$430.0M$73.0M$1.15B$0$0—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-039940.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B 15B Revenue, FY2016: 12.4B Net income, FY2016: -941M Revenue, FY2017: 13B Net income, FY2017: -74M Revenue, FY2018: 6.8B Net income, FY2018: 642M Revenue, FY2019: 7.1B Net income, FY2019: 470M Revenue, FY2020: 5.3B Net income, FY2020: 261M Revenue, FY2021: 5B Net income, FY2021: 258M Revenue, FY2022: 5.7B Net income, FY2022: 469M Revenue, FY2023: 6.6B Net income, FY2023: 765M Revenue, FY2024: 7.4B Net income, FY2024: 1.2B Revenue, FY2025: 8.3B Net income, FY2025: 1.5B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $12.39B $12.96B $6.78B $7.10B $5.26B $4.97B $5.66B $6.64B $7.43B $8.25B
Gross profit — — — — — — — — — —
Net income -$941.0M -$74.0M $642.0M $470.0M $261.0M $258.0M $469.0M $765.0M $1.16B $1.51B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event Item 8.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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