Howmet Aerospace Inc. (HWM)
Industrials · Aerospace & Defense · US stock · S&P 500 component
$220.96
▲ +1.26 (0.57%)
Fair valueOvervalued
$97 −55.9% to fair value
$49fair band $58–$136$146
Day's range
$220.60 – $224.99
52-week range
$187.07 – $309.85
About Howmet Aerospace Inc.
Howmet Aerospace makes engineered metal products for jet engines, airframes and industrial gas turbines. Its output includes precision cast and forged parts, fasteners and structural components, with aircraft and defense customers accounting for much of its demand. Revenue comes from supplying these parts to engine and aircraft manufacturers under long-term arrangements, so sales depend on commercial aircraft build rates and engine spare parts activity.
Over the last twelve months, $9.1 billion in revenue was reported. The three-year revenue growth rate is 13.4% a year. Profitability shows an operating margin of 27.4% and a return on invested capital of 21%. Net debt stands at 1.5 times EBITDA. Shareholders receive a dividend, yielding 0.2%. This gives an X-Ray Score of 55 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $187.07 – $309.85Volume 2,976,500Daily, split-adjusted
Vitals
Market cap$88.8B
52-week range$187.07 – $309.85
Volume (last day)2,976,500
P/E (TTM)47.7
EBIT / EV yield2.7%
Free-cash-flow yield2.0%
Dividend yield0.2%
Revenue (TTM)$9.1B
Net income (TTM)$1.9B
Operating margin27.4%
Return on capital20.8%
Debt incl. leases$4.7B
Cash & securities$563M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$97model spread $90 – $107
Overvalued
−55.9% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is High, so the safety margin is 40%.
Multiples use through-the-cycle earnings (0.61x of the last twelve months)
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so the fair value range is widened
Price $221
Undervalued < $58Fair $58 – $136Overvalued > $136
10-year DCF (market-scaled)
$134
Peer multiples
$72
Earnings power floor (not blended)
$31
Fundamentals-adjusted multiple
$86
Growth the price implies
24.1%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Average business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Valuation
Weak
9/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield2.7%
Free-cash-flow yield2.0%
Fair value vs price0.4×
Growth
Strong
87/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)13.4%
EPS growth (3y)49.5%
Growth consistency100%
Profitability
Fair
57/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital20.8%
Operating margin27.4%
Financial health
Strong
74/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score8 / 9
Net debt / EBITDA1.5×
Interest coverNo interest cost
Dividends
Fair
56/100
Dividend is typical for its sector.
See the numbers →
Dividend yield0.2%
Dividends vs free cash flow11%
Dividend growth60.2%
Quarterly results: last 6 quarters
+6.5%
Mar '25
+9.2%
Jun '25
+13.8%
Sep '25
+14.6%
Dec '25
+19.1%
Mar '26
+24.1%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $2.5B, diluted EPS $1.33.
Compare with peers
GD General Dynamics Corp69 TXT Textron Inc65 LHX L3harris Technologies,...59 LMT Lockheed Martin Corp57Other Aerospace & Defense companies by X-Ray Score.
Fundamentals checklist
● 9 Good · ● 3 Average · ● 3 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Altman Z''Average
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Good
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioGood
Net debt / EBITDAAverage
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalGood
Operating marginGood
Each check is graded against the company's sector, not a fixed number. Checklist score 59/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $5.0B | $5.7B | $6.6B | $7.4B | $8.3B |
| Operating income | $748M | $919M | $1.2B | $1.6B | $2.0B |
| Net income | $258M | $469M | $765M | $1.2B | $1.5B |
| Operating cash flow | $449M | $733M | $901M | $1.3B | $1.9B |
| Operating margin | 15.0% | 16.2% | 18.1% | 22.0% | 24.8% |
| Free cash flow | $250M | $540M | $682M | $977M | $1.4B |
| Diluted EPS | $0.59 | $1.11 | $1.83 | $2.81 | $3.71 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
0 bullish · 4 neutral · 12 bearish
Weekly
Bearish
3 bullish · 1 neutral · 8 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 222.8 | Bearish |
| EMA 10 | 222.2 | Bearish |
| SMA 20 | 225.8 | Bearish |
| EMA 20 | 226.5 | Bearish |
| SMA 50 | 245.7 | Bearish |
| EMA 50 | 239.9 | Bearish |
| SMA 100 | 258.6 | Bearish |
| EMA 100 | 247.7 | Bearish |
| SMA 200 | 249.2 | Bearish |
| EMA 200 | 241.0 | Bearish |
Oscillators (daily)
| RSI (14) | 39.21 | Neutral |
| MACD (12, 26) | -6.52 | Bearish |
| Momentum (12) | -2.31 | Bearish |
| Stochastic %K (14) | 45.36 | Neutral |
| Williams %R (14) | -54.64 | Neutral |
| CCI (20) | -60.73 | Neutral |
Pivot points (classic, last session)
S3 215.0 | S2 217.8 | S1 219.4 | Pivot 222.2 | R1 223.8 | R2 226.6 | R3 228.2 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
0.50 USD
Yield on today's price
0.23%
Frequency
Quarterly
Next ex-dividend date
6 Nov 2026
| Ex-dividend date | Amount per share |
|---|---|
| 6 Nov 2026 (upcoming) | 0.1400 |
| 7 Aug 2026 | 0.1400 |
| 8 May 2026 | 0.1200 |
| 6 Feb 2026 | 0.1200 |
| 7 Nov 2025 | 0.1200 |
| 8 Aug 2025 | 0.1200 |
| 9 May 2025 | 0.1000 |
| 7 Feb 2025 | 0.1000 |
| 8 Nov 2024 | 0.0800 |
| 9 Aug 2024 | 0.0800 |
| 9 May 2024 | 0.0500 |
| 8 Feb 2024 | 0.0500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
HWM SEC filings
6 Aug 2026
8-KSEC EDGAR
Results of operations
6 Aug 2026
10-QSEC EDGAR
Quarterly report
28 May 2026
8-KSEC EDGAR
Other events
26 May 2026
8-KSEC EDGAR
Shareholder vote results
7 May 2026
8-KSEC EDGAR
Results of operations
7 May 2026
10-QSEC EDGAR
Quarterly report
6 Apr 2026
8-KSEC EDGAR
Regulation FD disclosure
6 Apr 2026
DEF 14ASEC EDGAR
Proxy statement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.