Industrials · Aerospace & Defense · US stock · price as of 16 Oct 2026
Key indicators
Price
$220.96
52-week range
$187.07 – $309.85
Market cap
$88.8B
P/E (trailing)
47.7×
EV / EBITDA
33.2×
Free-cash-flow yield
2.0%
Dividend yield
0.2%
Revenue (last 12 months)
$9.1B
Revenue growth (3y a year)
13.4%
Operating margin
27.4%
Return on invested capital
20.8%
Net debt / EBITDA
1.5×
Fair value
Blended fair value$97.48 range $90 – $107
Versus priceOvervalued−56% to fair value
Peer multiples
$71.84
Fundamentals-adjusted multiple
$86.23
10-year DCF (market-scaled)
$134.37
Earnings power value (floor, not blended)
$30.84
Model uncertainty
High
X-Ray Score
54/ 100 · High confidence · ahead of 60% of sector peers
Valuation9
Growth87
Profitability57
Financial health74
Dividends56
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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%.
StocksXray gives Howmet Aerospace Inc. an X-Ray Score of 54 out of 100 (high confidence), ahead of 60% of the S&P 500 stocks in its sector. Its strongest lens is growth (87) and its weakest is valuation (9).
Our fair value blend is $97.48 (range $90.24 to $106.70). At $220.96 the stock trades 127% above that blend, so the label is "Overvalued" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Howmet Aerospace Inc. (HWM)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$31.39
$38.98
$53.73
$108.92
$204.71
$220.96
Market cap
$13.7B
$16.4B
$22.4B
$44.7B
$83.1B
$88.8B
P/E
53.2×
35.1×
29.4×
38.8×
55.2×
47.7×
EV / revenue
3.5×
3.5×
3.8×
6.4×
10.4×
10.2×
EV / EBITDA
16.9×
16.7×
17.3×
24.8×
36.7×
33.2×
Price / free cash flow
54.6×
30.4×
32.8×
45.7×
58.1×
49.6×
Free-cash-flow yield
1.8%
3.3%
3.1%
2.2%
1.7%
2.0%
Price / book
3.9×
4.6×
5.5×
9.8×
15.5×
15.5×
Dividend yield
0.13%
0.26%
0.32%
0.24%
0.21%
0.23%
Fundamentals checklist ● 9 Good · ● 3 Average · ● 3 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−2.6%Average
Free-cash-flow yield2.0%Bad
Risk models
Altman Z score4.3×Average
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)49.5%Good
Free-cash-flow growth (3y)38.4%Good
Revenue growth (3y)13.4%Good
Growth consistency100%Good
Balance sheet
Current ratio1.8×Good
Net debt / EBITDA1.5×Average
Interest coverno interest costGood
Valuation
Fair value vs price0.4×Bad
EBIT / EV yield2.7%Bad
Profitability
Return on invested capital20.8%Good
Operating margin27.4%Good
XStocksXray
Howmet Aerospace Inc. (HWM)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
4,972
5,663
6,640
7,430
8,252
9,117
Gross profit
–
–
–
–
–
–
Operating income
748
919
1,203
1,633
2,046
2,495
Net income
258
469
765
1,155
1,508
1,871
Diluted EPS ($)
0.59
1.11
1.83
2.81
3.71
4.63
Free cash flow
250
540
682
977
1,431
1,791
Gross margin
–
–
–
–
–
–
Operating margin
15.0%
16.2%
18.1%
22.0%
24.8%
27.4%
Net margin
5.2%
8.3%
11.5%
15.5%
18.3%
20.5%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
10,219
10,255
10,428
10,519
11,179
13,251
Cash
720
791
610
564
742
563
Total debt
4,237
4,162
3,706
3,315
3,050
4,501
Equity
3,508
3,601
4,037
4,554
5,353
5,732
Dividend per share ($)
0.04
0.10
0.17
0.26
0.44
0.60
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.