ATS (ATS)
Market Price (3/30/2026): $28.07 | Market Cap: $2.8 BilSector: Consumer Discretionary | Industry: Textiles
ATS (ATS)
Market Price (3/30/2026): $28.07Market Cap: $2.8 BilSector: Consumer DiscretionaryIndustry: Textiles
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% | Weak multi-year price returns2Y Excs Rtn is -46%, 3Y Excs Rtn is -92% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 35x, P/EPrice/Earnings or Price/(Net Income) is 146x |
| Attractive yieldFCF Yield is 9.4% | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.96 | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% |
| Low stock price volatilityVol 12M is 47% | Key risksATS key risks include [1] challenges in successfully integrating its acquisitions and [2] a high dependency on a limited number of critical suppliers. | |
| Megatrend and thematic driversMegatrends include Automation & Robotics, and Electric Vehicles & Autonomous Driving. Themes include Factory Automation, EV Manufacturing, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Attractive yieldFCF Yield is 9.4% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Automation & Robotics, and Electric Vehicles & Autonomous Driving. Themes include Factory Automation, EV Manufacturing, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -46%, 3Y Excs Rtn is -92% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.96 |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 35x, P/EPrice/Earnings or Price/(Net Income) is 146x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% |
| Key risksATS key risks include [1] challenges in successfully integrating its acquisitions and [2] a high dependency on a limited number of critical suppliers. |
Qualitative Assessment
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ATS (ATS) stock has gained about 10% since 11/30/2025 because of the following key factors:
1. Enhanced Financial Stability from Significant Debt Reduction and New Credit Facilities. ATS Corporation materially improved its financial position through the receipt of a USD $134.75 million (approximately C$194 million) settlement from an Electric Vehicle customer in the first quarter of fiscal 2026, which contributed to a notable 0.4x-0.5x reduction in its net debt-to-adjusted EBITDA leverage. This positive development was highlighted by S&P Global Ratings in November 2025 when affirming ATS's credit rating with a stable outlook, anticipating further leverage reduction below 3x by the end of fiscal 2026. Further bolstering its financial resilience, ATS secured new amended credit facilities totaling US$1.05 billion in December 2025, providing substantial financing flexibility and liquidity for ongoing operations and strategic initiatives.
2. Resilient Business Model Driven by Diversification and Strong Order Backlog in Key Growth Sectors. The company demonstrated resilience through strategic diversification, achieving strong organic revenue growth in higher-margin sectors such as life sciences, food & beverage, and energy. This diversification partially offset declines in the transportation segment and was supported by a robust order backlog consistently reported around $2.1 billion, which provides solid revenue visibility for future periods. Despite a 7.0% year-over-year decrease in overall order bookings for the third quarter of fiscal 2026 (ending December 28, 2025), the sustained demand and growth in these core markets indicate a more stable and resilient business outlook.
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1. Enhanced Financial Stability from Significant Debt Reduction and New Credit Facilities. ATS Corporation materially improved its financial position through the receipt of a USD $134.75 million (approximately C$194 million) settlement from an Electric Vehicle customer in the first quarter of fiscal 2026, which contributed to a notable 0.4x-0.5x reduction in its net debt-to-adjusted EBITDA leverage. This positive development was highlighted by S&P Global Ratings in November 2025 when affirming ATS's credit rating with a stable outlook, anticipating further leverage reduction below 3x by the end of fiscal 2026. Further bolstering its financial resilience, ATS secured new amended credit facilities totaling US$1.05 billion in December 2025, providing substantial financing flexibility and liquidity for ongoing operations and strategic initiatives.
2. Resilient Business Model Driven by Diversification and Strong Order Backlog in Key Growth Sectors. The company demonstrated resilience through strategic diversification, achieving strong organic revenue growth in higher-margin sectors such as life sciences, food & beverage, and energy. This diversification partially offset declines in the transportation segment and was supported by a robust order backlog consistently reported around $2.1 billion, which provides solid revenue visibility for future periods. Despite a 7.0% year-over-year decrease in overall order bookings for the third quarter of fiscal 2026 (ending December 28, 2025), the sustained demand and growth in these core markets indicate a more stable and resilient business outlook.
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Stock Movement Drivers
Fundamental Drivers
The 10.1% change in ATS stock from 11/30/2025 to 3/29/2026 was primarily driven by a 6.1% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.51 | 28.08 | 10.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,691 | 2,800 | 4.0% |
| P/S Multiple | 0.9 | 1.0 | 6.1% |
| Shares Outstanding (Mil) | 98 | 98 | -0.3% |
| Cumulative Contribution | 10.1% |
Market Drivers
11/30/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| ATS | 10.1% | |
| Market (SPY) | -5.3% | 51.2% |
| Sector (XLY) | -10.4% | 50.5% |
Fundamental Drivers
The 1.3% change in ATS stock from 8/31/2025 to 3/29/2026 was primarily driven by a 8.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.72 | 28.08 | 1.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,576 | 2,800 | 8.7% |
| P/S Multiple | 1.1 | 1.0 | -6.5% |
| Shares Outstanding (Mil) | 98 | 98 | -0.4% |
| Cumulative Contribution | 1.3% |
Market Drivers
8/31/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| ATS | 1.3% | |
| Market (SPY) | 0.6% | 48.8% |
| Sector (XLY) | -8.5% | 51.9% |
Fundamental Drivers
The -3.5% change in ATS stock from 2/28/2025 to 3/29/2026 was primarily driven by a -79.2% change in the company's Net Income Margin (%).| (LTM values as of) | 2282025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.09 | 28.08 | -3.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,751 | 2,800 | 1.8% |
| Net Income Margin (%) | 3.2% | 0.7% | -79.2% |
| P/E Multiple | 31.9 | 145.8 | 356.9% |
| Shares Outstanding (Mil) | 98 | 98 | -0.1% |
| Cumulative Contribution | -3.5% |
Market Drivers
2/28/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| ATS | -3.5% | |
| Market (SPY) | 9.8% | 64.1% |
| Sector (XLY) | -1.3% | 64.8% |
Fundamental Drivers
The -30.5% change in ATS stock from 2/28/2023 to 3/29/2026 was primarily driven by a -88.1% change in the company's Net Income Margin (%).| (LTM values as of) | 2282023 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.38 | 28.08 | -30.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,450 | 2,800 | 14.3% |
| Net Income Margin (%) | 5.7% | 0.7% | -88.1% |
| P/E Multiple | 26.7 | 145.8 | 446.2% |
| Shares Outstanding (Mil) | 92 | 98 | -6.4% |
| Cumulative Contribution | -30.5% |
Market Drivers
2/28/2023 to 3/29/2026| Return | Correlation | |
|---|---|---|
| ATS | -30.5% | |
| Market (SPY) | 69.4% | 51.2% |
| Sector (XLY) | 49.0% | 48.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ATS Return | 128% | -22% | 39% | -29% | -10% | 7% | 70% |
| Peers Return | -7% | -26% | 46% | 110% | 34% | -18% | 131% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -5% | 72% |
Monthly Win Rates [3] | |||||||
| ATS Win Rate | 75% | 42% | 58% | 33% | 50% | 67% | |
| Peers Win Rate | 53% | 42% | 64% | 56% | 64% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| ATS Max Drawdown | -1% | -39% | 0% | -42% | -31% | 0% | |
| Peers Max Drawdown | -17% | -41% | -3% | -8% | -24% | -27% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -5% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GGG, GHM, GCDT, GPGI, OLOX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)
How Low Can It Go
| Event | ATS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -42.3% | -25.4% |
| % Gain to Breakeven | 73.4% | 34.1% |
| Time to Breakeven | 274 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -40.1% | -33.9% |
| % Gain to Breakeven | 67.0% | 51.3% |
| Time to Breakeven | 253 days | 148 days |
| 2018 Correction | ||
| % Loss | -46.9% | -19.8% |
| % Gain to Breakeven | 88.2% | 24.7% |
| Time to Breakeven | 749 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -77.2% | -56.8% |
| % Gain to Breakeven | 338.8% | 131.3% |
| Time to Breakeven | 1,136 days | 1,480 days |
Compare to GGG, GHM, GCDT, GPGI, OLOX
In The Past
ATS's stock fell -42.3% during the 2022 Inflation Shock from a high on 2/1/2022. A -42.3% loss requires a 73.4% gain to breakeven.
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About ATS (ATS)
ATS Corporation, together with its subsidiaries, provides automation solutions worldwide. The company is also involved in planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. In addition, it offers pre-automation services comprising discovery and analysis, concept development, simulation, and total cost of ownership modelling; post automation services, including training, process optimization, preventative maintenance, emergency and on-call support, spare parts, retooling, retrofits, and equipment relocation; and contract manufacturing services, as well as after sales and services. Further, the company provides engineering design, prototyping, process verification, specification writing, software and manufacturing process controls development, standard automation products/platforms, equipment design and build, third-party equipment qualification, procurement and integration, automation system installation, product line commissioning, validation, and documentation services. Additionally, it offers value engineering, supply chain management, and integration and manufacturing capabilities, as well as other automation products and solutions; and software and digital solutions comprising connected factory floor management systems to capture, analyze, and use real time machine performance data to troubleshoot, deliver process and product solutions, prevent equipment downtime, drive operational efficiency, and unlock performance for sustainable production improvements. ATS Corporation serves life sciences, transportation and mobility, consumer products, food and beverage, electronics, nuclear, packaging, warehousing and distribution, and energy markets. The company was formerly known as ATS Automation Tooling Systems Inc. and changed its name to ATS Corporation in November 2022. ATS Corporation was founded in 1978 and is headquartered in Cambridge, Canada.
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Here are 1-2 brief analogies for ATS Corporation:
- The Accenture for industrial automation. (ATS provides comprehensive, end-to-end automation solutions and services, from planning and design to build, commissioning, and post-automation support, including digital factory solutions, for a wide range of global industries, much like Accenture offers broad consulting and technology services to businesses.)
- A 'full-stack' systems integrator for automated factories, similar to how Rockwell Automation provides industrial control products, but ATS designs, builds, and maintains complete bespoke automation lines and digital factory management systems. (ATS goes beyond selling automation products; they are a comprehensive partner that designs, builds, integrates, and services entire custom-engineered automation systems and digital solutions for manufacturing across diverse markets.)
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- Automated Manufacturing and Assembly Systems: ATS designs, builds, commissions, and services custom automated systems for various manufacturing and assembly processes.
- Standard Automation Products and Test Solutions: The company offers specialized automation products, platforms, and testing solutions to support automated systems.
- Pre-Automation Services: These services include discovery and analysis, concept development, simulation, and total cost of ownership modeling to plan automation projects.
- Post-Automation and Support Services: ATS provides comprehensive support such as training, process optimization, preventative maintenance, emergency support, spare parts, and equipment relocation.
- Contract Manufacturing Services: The company offers manufacturing services to produce goods or components for clients.
- Software and Digital Solutions: ATS develops connected factory floor management systems that capture and analyze real-time machine performance data to drive operational efficiency.
- Engineering and Integration Services: This category includes engineering design, prototyping, process verification, software development, equipment integration, and project documentation.
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ATS Corporation sells primarily to other companies (B2B). While specific major customer company names are not publicly disclosed by ATS Corporation, its customer base spans a diverse range of industries, representing its major customer segments. These include:
- Life sciences
- Transportation and mobility
- Consumer products
- Food and beverage
- Electronics
- Nuclear
- Packaging
- Warehousing and distribution
- Energy markets
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Doug Wright, Chief Executive Officer
Mr. Wright joined ATS as Chief Executive Officer in January 2026. Before ATS, he served as CEO of Indicor, a diversified industrial solutions company. Prior to this, he was the President and CEO, Building Technologies, at Honeywell International, and also served as President and CEO of Source Photonics. He has held numerous leadership roles with United Technologies Corporation (now Raytheon Technologies) and Ingersoll Rand, with a track record of delivering organic growth, margin expansion, and growth through strategic, value-accretive acquisitions.
Anne Cybulski, Interim Chief Financial Officer
Ms. Cybulski was appointed as Interim Chief Financial Officer in 2026, having served as VP, Corporate Controller since 2022. She joined ATS in 2009 and has held progressive finance operations and business partnering positions across several groups within the company. Before joining ATS, Ms. Cybulski spent nine years with Ernst & Young LLP.
Gordon Raman, Chief Legal Officer
Mr. Raman joined ATS in 2024 as Chief Legal Officer, where he oversees the company's legal, compliance, and risk functions globally. Prior to joining ATS, Mr. Raman was a partner with Fasken Martineau DuMoulin LLP, specializing in mergers and acquisitions, corporate governance, and capital markets.
Jeff Adamson, Chief Information Officer
Mr. Adamson is the Chief Information Officer of ATS Corporation, having joined the company in 2023. He is responsible for planning and managing the company's IT activities. Before ATS, Mr. Adamson worked with Sanmina Corporation, overseeing the delivery of global IT services.
Miroslav “Miro” Kafedzhiev, President, Industrial Automation
Mr. Kafedzhiev is the President of ATS Industrial Automation, having joined ATS in 2024. He brings strong commercial leadership experience, having spent over 20 years with Honeywell in various roles of increasing responsibility, culminating as Vice-President and General Manager of Honeywell Intelligrated.
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The key risks to ATS Corporation's business include financial health and solvency concerns, exposure to economic cycles and market dependence, and operational risks coupled with competitive pressures.
- Financial Health and Solvency Concerns: ATS Corporation faces significant financial health challenges, including an Altman Z-Score of 1.8, which places it in the distress zone and implies a potential risk of bankruptcy within the next two years. The company has also exhibited profitability challenges, evidenced by a negative EPS, a low net margin, and a significant reliance on debt financing with a debt-to-equity ratio of 0.89. Additionally, its return on invested capital (ROIC) is lower than its weighted average cost of capital (WACC), indicating potential inefficiencies in capital utilization.
- Exposure to Economic Cycles and Market Dependence: The company's business is vulnerable to market fluctuations due to its reliance on specific industries such as automotive and life sciences. The cyclical nature of the Industrials sector, coupled with general economic uncertainty, can significantly affect client budgets and their investment in automation solutions. Recent declines in transportation revenues, particularly related to shifting customer investment trends in North American electric vehicle production and a disagreement with an EV customer, underscore this market dependency.
- Operational Risks and Competitive Pressures: ATS Corporation is exposed to global supply chain challenges that can impact the availability of critical components for its automation systems. The rapid pace of technological advancements in the automation industry necessitates continuous investment in research and development to prevent technological obsolescence and maintain competitiveness. The company also operates in a highly competitive market, facing pressure from both large multinational corporations and specialized automation providers, which can affect pricing, margins, and market share. Furthermore, with extensive international operations, ATS is subject to foreign exchange risks due to currency fluctuations.
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The clear emerging threat for ATS Corporation is the rise of Automation as a Service (AaaS). This model shifts the acquisition of complex industrial automation from a capital-intensive, custom-built project approach (ATS's core business) to an operational expenditure, subscription-based service. Under an AaaS model, clients would pay a recurring fee for automated processes or outcomes, with the provider responsible for all aspects of hardware, software, integration, maintenance, and upgrades.
This paradigm shift threatens ATS's traditional business model in several ways: it democratizes access to automation by reducing upfront costs for customers, allows for faster deployment and scalability through standardized modular systems, and incentivizes providers to offer continuous optimization and technological updates. While elements like Robotics as a Service (RaaS) are already established in niche areas such as warehousing, the expansion of AaaS to encompass broader manufacturing and assembly systems could enable new, agile competitors (potentially software-first companies or cloud providers) to offer more flexible, outcome-oriented solutions, directly challenging the value proposition of traditional automation system integrators like ATS.
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ATS Corporation operates in several significant and expanding addressable markets globally, providing automation solutions, systems, and services across diverse industries. The market sizes for its main products and services are outlined below:
- Global Industrial Automation Market: The global industrial automation market was valued at approximately USD 192.02 billion in 2024 and is projected to reach USD 420.49 billion by 2033, with a Compound Annual Growth Rate (CAGR) of 9.1% from 2025 to 2033. Other estimates place the market size at USD 238.37 billion in 2026, climbing to USD 343.14 billion by 2031 at a 7.55% CAGR. Another report indicates a market size of USD 272.51 billion in 2025, expected to reach USD 632.12 billion by 2034 with a CAGR of 9.80% from 2026 to 2034. This market encompasses automation solutions and automated manufacturing and assembly systems.
- Global Industrial Automation Services Market: This market was estimated at USD 175.38 billion in 2024 and is expected to grow to USD 321.78 billion by 2030, exhibiting a CAGR of 10.8% from 2025 to 2030. Another source reports the market size at USD 233.5 billion in 2024, projected to reach USD 459.5 billion by 2033 with a CAGR of 7.42% from 2025 to 2033. These figures include project engineering, installation, maintenance, support, and consulting services.
- Global Manufacturing Automation Market: The global manufacturing automation market was valued at approximately USD 13.26 billion in 2023 and is predicted to grow to around USD 36.98 billion by 2033, with a CAGR of 10.80% between 2023 and 2033. Another report estimates the market at USD 14.85 billion in 2025, reaching USD 34.28 billion by 2034 at a CAGR of 9.74%. This market directly addresses automated manufacturing and assembly systems.
- Global Engineering Design Service Market: This market was valued at around USD 45 billion in 2023 and is projected to reach approximately USD 85 billion by 2032, growing at a CAGR of 7%. A broader "global engineering services market" was valued at USD 2.34 trillion in 2025 and is projected to grow to USD 5.37 trillion by 2034, with manufacturing engineering holding a dominant share.
- Global Manufacturing Operations Management (MOM) Software / Software for Smart Manufacturing Market: The global manufacturing operations management software market was estimated at USD 17.46 billion in 2024 and is projected to reach USD 76.71 billion by 2033, growing at a CAGR of 19.1% from 2025 to 2033. The global software for smart manufacturing market size was valued at USD 139.52 billion in 2025 and is projected to grow to USD 438.73 billion by 2034, exhibiting a CAGR of 13.63%.
- Global Automation as a Service (AaaS) Market: The global AaaS market size was valued at USD 197.4 billion in 2025 and is projected to grow to USD 502.35 billion by 2034, exhibiting a CAGR of 10.94%.
For specific industries ATS Corporation serves:
- Industrial Automation in Life Sciences Market (Global): This market was valued at approximately USD 5.7 billion in 2023 and is projected to reach USD 12.8 billion by 2032, growing at a CAGR of 9.2% during the forecast period. Another estimate for the industrial automation market in the life sciences industry projects it to increase by USD 3.66 billion, at a CAGR of 8.7% from 2024 to 2029.
- Industrial Automation in Food and Beverage Market (Global): As of 2023, the global market size for industrial automation in the food and beverage industry is estimated at USD 20 billion, with projections indicating it could rise to approximately USD 35.6 billion by 2032, reflecting a robust CAGR of 6.5%.
- Packaging Automation Market (Global): The global packaging automation market size was valued at USD 86.26 billion in 2025 and is predicted to increase to approximately USD 181.26 billion by 2035, representing a CAGR of 7.71% from 2026 to 2035. Another report values it at USD 15,316.7 million in 2024, expecting it to climb to USD 34,156.2 million by 2035 with a CAGR of 7.6%.
- Energy & Utilities Industrial Automation and Control Systems Market (Global): This market was valued at US$ 16,610.0 million (USD 16.61 billion) in 2025 and is estimated to grow at a CAGR of 10.4% from 2025 to 2033. The industrial automation oil and gas market is expected to grow from USD 18.75 billion in 2025 to USD 27.98 billion in 2030, at a CAGR of 8.4%.
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ATS Corporation (ATS) is expected to drive future revenue growth over the next 2-3 years through several key strategies: * Leveraging a Strong and Diversified Order Backlog: ATS has consistently reported a robust order backlog, which provides significant revenue visibility and underpins future revenue conversion. For instance, in Q3 2026, the company maintained an order backlog of approximately $2.1 billion, reflecting a well-balanced mix across its end markets and geographies. This substantial backlog supports steady revenue generation in the near term. * Continued Organic Growth in the Life Sciences Sector: The Life Sciences segment remains a primary growth engine for ATS. It is the company's largest segment, accounting for 51% of total revenues in Q3 2026, and demonstrated a 4% increase in revenues year-over-year. The backlog in this segment, particularly from radiopharma and GLP-1 auto-injector programs, is strong, indicating sustained demand. * Strategic Mergers & Acquisitions (M&A): Strategic acquisitions are a key part of ATS's growth strategy, expanding its capabilities and market reach. The company has explicitly stated that a strategic approach to M&A will remain a key growth driver, with a focus on disciplined acquisitions to enhance margins and technology. Recent acquisitions, such as Avidity and ITACA, have contributed to revenue growth and expanded offerings in life sciences and pharmaceuticals. * Growth in Aftermarket Services and Digital Solutions: ATS is experiencing continued momentum in its services offerings, which are noted as a driver of organic growth. The company aims to make services a recurring, margin-enhancing component of its business. The company's focus on software and digital solutions, including connected factory floor management systems, also contributes to operational efficiency and sustainable production improvements for its clients. * Expansion and Capitalization on Key Industrial Markets, particularly Energy: While the Life Sciences sector is prominent, ATS's diversified market presence allows it to capitalize on opportunities in other industrial sectors. The Energy segment, for example, has achieved a record backlog, contributing to the company's diversified growth from its operating units. This broad market engagement mitigates potential impacts from macroeconomic headwinds and tariffs.AI Analysis | Feedback
Share Repurchases
- ATS Corporation received approval for a normal course issuer bid (NCIB) to repurchase up to approximately 8,225,621 shares, representing 10% of its public float, for the period commencing December 22, 2025, and ending on or before December 21, 2026.
- Under the prior 2024 NCIB, ATS was authorized to repurchase up to 8,259,180 shares.
- Over the 12 months prior to December 2025, ATS repurchased and canceled 308,758 shares at an average price of $32.39 each, totaling approximately $9.99 million.
Share Issuance
- ATS Corporation's common shares began trading on the New York Stock Exchange (NYSE) on May 25, 2023, marking its initial public offering in the United States.
- The company announced the closing of its initial public offering on May 30, 2023.
Outbound Investments
- On September 1, 2021, ATS Corporation acquired NCC Automated Systems, Inc., a provider of sanitary automation solutions and precision conveyance equipment, for US$40 million (approximately C$50 million).
- In 2024, ATS Corporation announced a definitive agreement to acquire Paxiom Group, a provider of primary, secondary, and end-of-line packaging machines for various industries, to be funded with cash and its revolving credit facility.
- In September 2024, ATS acquired Heidolph Instruments, strengthening its position in premium lab equipment for life sciences, and in February 2024, it acquired IT. ACA. Engineering S.r.l, an Italian automation system integrator.
Capital Expenditures
- For fiscal year 2026, ATS expected capital expenditures and intangible asset investments to be in the range of CAD 80 million to CAD 100 million.
- In the second quarter of fiscal 2026, ATS invested CAD 18.3 million in capital expenditures and intangible assets.
- Capital expenditures are primarily focused on adding capacity to support growth and investing in innovation across strategic markets such as electric vehicles, life sciences, and food & beverage.
Latest Trefis Analyses
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| null | 10/17/2025 | |
| Fundamental Metrics: ... | 06/19/2024 |
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Trade Ideas
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| 02132026 | SONO | Sonos | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -0.7% | -0.7% | -4.6% |
| 02062026 | DECK | Deckers Outdoor | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 1.6% | 1.6% | -0.8% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 22.07 |
| Mkt Cap | 2.4 |
| Rev LTM | 238 |
| Op Inc LTM | 18 |
| FCF LTM | -5 |
| FCF 3Y Avg | 59 |
| CFO LTM | 13 |
| CFO 3Y Avg | 70 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.8% |
| Rev Chg 3Y Avg | 1.5% |
| Rev Chg Q | 8.1% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 3.2% |
| Op Mgn 3Y Avg | 7.4% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 5.3% |
| CFO/Rev 3Y Avg | 6.4% |
| FCF/Rev LTM | -2.6% |
| FCF/Rev 3Y Avg | 4.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.4 |
| P/S | 4.9 |
| P/EBIT | 28.3 |
| P/E | 42.0 |
| P/CFO | 14.2 |
| Total Yield | 1.2% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.9% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -11.5% |
| 3M Rtn | -9.5% |
| 6M Rtn | -11.4% |
| 12M Rtn | 5.0% |
| 3Y Rtn | -4.1% |
| 1M Excs Rtn | -3.9% |
| 3M Excs Rtn | -0.9% |
| 6M Excs Rtn | -6.7% |
| 12M Excs Rtn | -9.0% |
| 3Y Excs Rtn | -62.8% |
Price Behavior
Price Behavior
| Market Price | $28.08 | |
| Market Cap ($ Bil) | 2.8 | |
| First Trading Date | 12/28/2006 | |
| Distance from 52W High | -14.5% | |
| 50 Days | 200 Days | |
| DMA Price | $30.36 | $28.68 |
| DMA Trend | up | up |
| Distance from DMA | -7.5% | -2.1% |
| 3M | 1YR | |
| Volatility | 43.2% | 46.8% |
| Downside Capture | 1.04 | 1.24 |
| Upside Capture | 228.11 | 154.63 |
| Correlation (SPY) | 49.6% | 62.8% |
ATS Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.40 | 1.51 | 1.70 | 1.53 | 1.54 | 1.28 |
| Up Beta | 0.64 | 0.75 | 0.68 | 1.23 | 1.68 | 1.41 |
| Down Beta | 1.77 | 2.71 | 2.62 | 2.00 | 1.22 | 1.29 |
| Up Capture | 66% | 188% | 253% | 163% | 204% | 96% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 12 | 24 | 35 | 65 | 129 | 352 |
| Down Capture | -87% | 58% | 86% | 127% | 135% | 107% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 9 | 17 | 26 | 59 | 121 | 371 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATS | |
|---|---|---|---|---|
| ATS | 15.4% | 45.9% | 0.44 | - |
| Sector ETF (XLY) | 4.6% | 23.6% | 0.13 | 65.0% |
| Equity (SPY) | 14.5% | 18.9% | 0.59 | 63.4% |
| Gold (GLD) | 50.2% | 27.7% | 1.46 | 4.2% |
| Commodities (DBC) | 17.8% | 17.6% | 0.85 | 18.6% |
| Real Estate (VNQ) | 0.4% | 16.4% | -0.15 | 51.6% |
| Bitcoin (BTCUSD) | -23.7% | 44.2% | -0.49 | 37.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATS | |
|---|---|---|---|---|
| ATS | 4.4% | 40.3% | 0.24 | - |
| Sector ETF (XLY) | 5.6% | 23.7% | 0.20 | 45.3% |
| Equity (SPY) | 11.8% | 17.0% | 0.54 | 50.1% |
| Gold (GLD) | 20.7% | 17.7% | 0.96 | 11.1% |
| Commodities (DBC) | 11.6% | 18.9% | 0.50 | 16.1% |
| Real Estate (VNQ) | 3.0% | 18.8% | 0.07 | 41.9% |
| Bitcoin (BTCUSD) | 4.0% | 56.6% | 0.29 | 21.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATS | |
|---|---|---|---|---|
| ATS | 6.3% | 41.3% | 0.39 | - |
| Sector ETF (XLY) | 11.6% | 21.9% | 0.49 | 41.6% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 43.7% |
| Gold (GLD) | 13.3% | 15.8% | 0.70 | 6.6% |
| Commodities (DBC) | 8.2% | 17.6% | 0.39 | 19.4% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 35.5% |
| Bitcoin (BTCUSD) | 66.4% | 66.8% | 1.06 | 19.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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