Howmet Aerospace (HWM)
Market Price (2/8/2026): $223.06 | Market Cap: $89.9 BilSector: Industrials | Industry: Aerospace & Defense
Howmet Aerospace (HWM)
Market Price (2/8/2026): $223.06Market Cap: $89.9 BilSector: IndustrialsIndustry: Aerospace & Defense
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 25% | Trading close to highsDist 52W High is -0.8%, Dist 3Y High is -0.8% | Expensive valuation multiplesP/SPrice/Sales ratio is 11x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 46x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 53x, P/EPrice/Earnings or Price/(Net Income) is 62x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% | 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 -2.6% | |
| Low stock price volatilityVol 12M is 35% | Key risksHWM key risks include [1] a heavy dependence on major aerospace clients like Boeing and Airbus, Show more. | |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, and Advanced Materials. Themes include Commercial Space Exploration, Advanced Air Mobility, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 25% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% |
| Low stock price volatilityVol 12M is 35% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, and Advanced Materials. Themes include Commercial Space Exploration, Advanced Air Mobility, Show more. |
| Trading close to highsDist 52W High is -0.8%, Dist 3Y High is -0.8% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 11x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 46x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 53x, P/EPrice/Earnings or Price/(Net Income) is 62x |
| 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 -2.6% |
| Key risksHWM key risks include [1] a heavy dependence on major aerospace clients like Boeing and Airbus, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Howmet Aerospace (HWM) stock has gained about 10% since 10/31/2025 because of the following key factors:
1. Strong Q3 2025 Financial Results and Raised Full-Year Guidance.
Howmet Aerospace reported robust third-quarter 2025 financial performance, surpassing analyst expectations for both adjusted earnings per share (EPS) and revenue. On October 30, 2025, the company announced an adjusted EPS of $0.95, exceeding Wall Street forecasts of $0.91, and revenues of $2.09 billion, topping estimates of $2.05 billion. Following these strong results, Howmet raised its full-year 2025 revenue and profit forecasts. The company anticipated 2025 revenue to be between $8.18 billion and $8.2 billion, an increase from the previously projected range of $8.08 billion to $8.18 billion, and adjusted profit estimates were raised to between $3.66 and $3.68 per share.
2. Optimistic 2026 Outlook Driven by Robust Aerospace and Defense Market Demand.
The company provided a strong outlook for 2026, targeting approximately $9 billion in revenue, representing an estimated 10% year-over-year growth from 2025. This positive forecast was underpinned by sustained strength in the commercial and defense aerospace markets. Howmet's CEO highlighted growing air traffic, a substantial backlog of commercial aircraft orders extending through the decade, and increasing demand for engine spares. The anticipated increase in commercial aircraft production rates, including the approval for Boeing to raise its 737 MAX output, and continued robust spending in defense aerospace, such as for the F-35 program, were key factors contributing to this confident outlook.
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1. Strong Q3 2025 Financial Results and Raised Full-Year Guidance.
Howmet Aerospace reported robust third-quarter 2025 financial performance, surpassing analyst expectations for both adjusted earnings per share (EPS) and revenue. On October 30, 2025, the company announced an adjusted EPS of $0.95, exceeding Wall Street forecasts of $0.91, and revenues of $2.09 billion, topping estimates of $2.05 billion. Following these strong results, Howmet raised its full-year 2025 revenue and profit forecasts. The company anticipated 2025 revenue to be between $8.18 billion and $8.2 billion, an increase from the previously projected range of $8.08 billion to $8.18 billion, and adjusted profit estimates were raised to between $3.66 and $3.68 per share.
2. Optimistic 2026 Outlook Driven by Robust Aerospace and Defense Market Demand.
The company provided a strong outlook for 2026, targeting approximately $9 billion in revenue, representing an estimated 10% year-over-year growth from 2025. This positive forecast was underpinned by sustained strength in the commercial and defense aerospace markets. Howmet's CEO highlighted growing air traffic, a substantial backlog of commercial aircraft orders extending through the decade, and increasing demand for engine spares. The anticipated increase in commercial aircraft production rates, including the approval for Boeing to raise its 737 MAX output, and continued robust spending in defense aerospace, such as for the F-35 program, were key factors contributing to this confident outlook.
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Stock Movement Drivers
Fundamental Drivers
The 8.5% change in HWM stock from 10/31/2025 to 2/7/2026 was primarily driven by a 8.5% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2072026 | Change |
|---|---|---|---|
| Stock Price ($) | 205.71 | 223.16 | 8.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,975 | 7,975 | 0.0% |
| Net Income Margin (%) | 18.2% | 18.2% | 0.0% |
| P/E Multiple | 57.2 | 62.0 | 8.5% |
| Shares Outstanding (Mil) | 403 | 403 | 0.0% |
| Cumulative Contribution | 8.5% |
Market Drivers
10/31/2025 to 2/7/2026| Return | Correlation | |
|---|---|---|
| HWM | 8.5% | |
| Market (SPY) | 1.3% | 51.9% |
| Sector (XLI) | 11.7% | 69.3% |
Fundamental Drivers
The 24.4% change in HWM stock from 7/31/2025 to 2/7/2026 was primarily driven by a 19.5% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2072026 | Change |
|---|---|---|---|
| Stock Price ($) | 179.44 | 223.16 | 24.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,721 | 7,975 | 3.3% |
| Net Income Margin (%) | 18.1% | 18.2% | 0.5% |
| P/E Multiple | 51.9 | 62.0 | 19.5% |
| Shares Outstanding (Mil) | 404 | 403 | 0.2% |
| Cumulative Contribution | 24.4% |
Market Drivers
7/31/2025 to 2/7/2026| Return | Correlation | |
|---|---|---|
| HWM | 24.4% | |
| Market (SPY) | 9.6% | 42.6% |
| Sector (XLI) | 14.4% | 61.8% |
Fundamental Drivers
The 76.9% change in HWM stock from 1/31/2025 to 2/7/2026 was primarily driven by a 29.8% change in the company's P/E Multiple.| (LTM values as of) | 1312025 | 2072026 | Change |
|---|---|---|---|
| Stock Price ($) | 126.17 | 223.16 | 76.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,270 | 7,975 | 9.7% |
| Net Income Margin (%) | 14.8% | 18.2% | 22.7% |
| P/E Multiple | 47.8 | 62.0 | 29.8% |
| Shares Outstanding (Mil) | 408 | 403 | 1.2% |
| Cumulative Contribution | 76.9% |
Market Drivers
1/31/2025 to 2/7/2026| Return | Correlation | |
|---|---|---|
| HWM | 76.9% | |
| Market (SPY) | 15.8% | 65.7% |
| Sector (XLI) | 26.5% | 71.0% |
Fundamental Drivers
The 454.0% change in HWM stock from 1/31/2023 to 2/7/2026 was primarily driven by a 127.2% change in the company's Net Income Margin (%).| (LTM values as of) | 1312023 | 2072026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.28 | 223.16 | 454.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,435 | 7,975 | 46.7% |
| Net Income Margin (%) | 8.0% | 18.2% | 127.2% |
| P/E Multiple | 38.4 | 62.0 | 61.4% |
| Shares Outstanding (Mil) | 415 | 403 | 3.0% |
| Cumulative Contribution | 454.0% |
Market Drivers
1/31/2023 to 2/7/2026| Return | Correlation | |
|---|---|---|
| HWM | 454.0% | |
| Market (SPY) | 76.2% | 56.9% |
| Sector (XLI) | 77.4% | 64.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HWM Return | 12% | 24% | 38% | 103% | 88% | 2% | 645% |
| Peers Return | 8% | 27% | 62% | 59% | 60% | 8% | 507% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 81% |
Monthly Win Rates [3] | |||||||
| HWM Win Rate | 33% | 58% | 67% | 67% | 67% | 100% | |
| Peers Win Rate | 50% | 52% | 63% | 65% | 68% | 80% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| HWM Max Drawdown | -17% | -4% | -2% | -3% | 0% | 0% | |
| Peers Max Drawdown | -11% | -13% | -2% | -8% | -15% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TDG, PH, ATI, CW, CRS. See HWM Returns vs. Peers.
[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 2/6/2026 (YTD)
How Low Can It Go
| Event | HWM | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -23.3% | -25.4% |
| % Gain to Breakeven | 30.4% | 34.1% |
| Time to Breakeven | 77 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -64.8% | -33.9% |
| % Gain to Breakeven | 184.2% | 51.3% |
| Time to Breakeven | 262 days | 148 days |
| 2018 Correction | ||
| % Loss | -26.6% | -19.8% |
| % Gain to Breakeven | 36.2% | 24.7% |
| Time to Breakeven | 130 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -89.0% | -56.8% |
| % Gain to Breakeven | 807.1% | 131.3% |
| Time to Breakeven | 5,724 days | 1,480 days |
Compare to TDG, PH, ATI, CW, CRS
In The Past
Howmet Aerospace's stock fell -23.3% during the 2022 Inflation Shock from a high on 6/8/2021. A -23.3% loss requires a 30.4% gain to breakeven.
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About Howmet Aerospace (HWM)
Howmet Aerospace Inc. provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment offers airfoils and seamless rolled rings primarily for aircraft engines and industrial gas turbines; and rotating parts, as well as structural parts. The Fastening Systems segment produces aerospace fastening systems, as well as commercial transportation, industrial, and other fasteners. The Engineered Structures segment provides titanium ingots and mill products for aerospace and defense applications; and aluminum and nickel forgings, and machined components and assemblies. The Forged Wheels segment offers forged aluminum wheels and related products for heavy-duty trucks and commercial transportation markets. The company was formerly known as Arconic Inc. The company was founded in 1888 and is based in Pittsburgh, Pennsylvania.
AI Analysis | Feedback
Here are 1-3 brief analogies for Howmet Aerospace (HWM):- Howmet Aerospace is like the Intel for jet engine components.
- Howmet Aerospace is like a Magna International for the aerospace industry.
- Howmet Aerospace is like the Corning for aircraft metal parts and engine components.
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- Engine Products: Precision-cast components such as airfoils, rings, and structural parts for jet aircraft engines and industrial gas turbines.
- Fastening Systems: Highly engineered fasteners, fluid fittings, and installation tooling primarily used in aerospace, defense, and industrial applications.
- Engineered Structures: Advanced metallic and composite airframe structures and precision-machined parts for various aircraft platforms.
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Major Customers of Howmet Aerospace (HWM)
Howmet Aerospace (HWM) primarily sells its high-performance components for jet engines, airframes, and industrial gas turbines to other companies in the aerospace and defense sectors. Its major customers are leading original equipment manufacturers (OEMs) and engine manufacturers. These include:
- The Boeing Company (BA)
- Airbus SE (AIR.PA)
- GE Aerospace (GE)
- Raytheon Technologies Corporation (RTX)
- Safran S.A. (SAF.PA)
- Rolls-Royce plc (RR.L)
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- Allegheny Technologies Inc. (NYSE: ATI)
- Carpenter Technology Corporation (NYSE: CRS)
- Haynes International, Inc. (NASDAQ: HAYN)
- TIMET (subsidiary of Precision Castparts Corp., which is owned by Berkshire Hathaway Inc. (NYSE: BRK.A, NYSE: BRK.B))
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```htmlJohn C. Plant, Chairman and Chief Executive Officer
Mr. Plant has served as the Chairman and Chief Executive Officer of Howmet Aerospace since 2021. Previously, he led the successful transformation of Arconic Inc., serving as its Chief Executive Officer from February 2019 to April 2020. He also spearheaded the separation of Arconic Inc. into two independent, publicly traded companies: Howmet Aerospace Inc. and Arconic Corporation. Before joining Arconic, Mr. Plant was the Chairman of the Board, President, and Chief Executive Officer of TRW Automotive, a global automotive supplier that was acquired by ZF Friedrichshafen AG in May 2015. Under his leadership, TRW Automotive was recognized as a top 10 automotive supplier worldwide. His prior experience also includes serving as President of Lucas Varity Automotive and managing director of its Electrical and Electronics division.
Ken Giacobbe, Executive Vice President, Chief Financial Officer
Mr. Giacobbe has been the Executive Vice President and Chief Financial Officer of Howmet Aerospace Inc. since November 2016. He has extensive experience in leading finance functions across the company's portfolio, including previous roles as Chief Financial Officer of Alcoa Inc.'s Engineered Products and Solutions (EP&S) business from 2015 to 2016. Prior to that, he held positions as Group Controller for Alcoa Inc.'s EP&S business and Vice President of Finance for Global Extruded Products. Early in his career, he held senior finance roles at Avaya and Lucent Technologies.
Lola Lin, Executive Vice President, Chief Legal and Compliance Officer and Secretary
Ms. Lin joined Howmet Aerospace in 2021 as Executive Vice President, Chief Legal and Compliance Officer and Secretary. Before her tenure at Howmet, she served as Senior Vice President and General Counsel at Airgas Inc. from 2016 to 2021. She also held the position of Vice President and Deputy General Counsel at Air Liquide USA LLC from 2007 to 2016.
Neil Marchuk, Executive Vice President & Chief Human Resources Officer
Mr. Marchuk is the Executive Vice President and Chief Human Resources Officer at Howmet Aerospace. Prior to this role, he served as Executive Vice President and Chief Human Resources Officer at Adient from January 2016 to February 2019. His background also includes experience as Executive Vice President of Human Resources at TRW Automotive and leadership roles in Human Resources at E.I. Du Pont De Nemours.
Merrick Murphy, President, Engine Products
Mr. Murphy serves as the President of Engine Products at Howmet Aerospace.
```AI Analysis | Feedback
The key risks to Howmet Aerospace (HWM) primarily revolve around its deep ties to the aerospace and transportation industries, exposing it to specific market volatilities and operational challenges.
- Heavy Dependence on Major Aerospace Clients and Market Cyclicality: Howmet Aerospace exhibits a significant reliance on key aerospace manufacturers, particularly Boeing and Airbus. Production issues, delays, or schedule changes at these major clients immediately impact Howmet's order volumes and revenue expectations. For example, Boeing's production problems in 2024 led Howmet to revise its 2025 revenue expectations more cautiously. The aerospace market itself is cyclical, meaning its performance can fluctuate significantly due to broader economic conditions and geopolitical events.
- Supply Chain Vulnerabilities and Raw Material Cost Increases: The company faces persistent risks related to its supply chain, including potential parts shortages and fluctuating raw material costs. These vulnerabilities can directly impede production efficiency, lead to delays in crucial delivery schedules for clients, and squeeze profitability through higher manufacturing expenses. Rising aluminum costs have been specifically identified as a potential detractor to profits.
- Weakness in the Commercial Transportation Market: Howmet Aerospace's Commercial Transportation segment, particularly its Forged Wheels business, is susceptible to economic slowdowns. This sector has experienced challenging market conditions and revenue declines, as seen with a 12% revenue decrease in the Forged Wheels segment in Q3 2024. This weakness, contrasted with the robust growth in aerospace, poses a risk if negative trends in commercial transportation persist or worsen, with expectations of continued lower OEM builds in the near term.
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The accelerating adoption and maturation of advanced additive manufacturing (3D printing) technologies, particularly by major aerospace original equipment manufacturers (OEMs), poses a clear emerging threat. These technologies enable the production of complex, high-performance engine and structural components with lighter designs, faster prototyping, and potentially reduced material waste compared to traditional manufacturing processes like Howmet's core forging and casting methods. As OEMs increasingly invest in and integrate additive manufacturing capabilities in-house or with specialized additive suppliers, it could reduce demand for Howmet's conventionally produced components, leading to potential market share erosion or pricing pressure.
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Howmet Aerospace (HWM) operates in several key markets, providing advanced engineered solutions for the aerospace and transportation industries. The addressable markets for their main products and services are sized as follows:Forged Aluminum Wheels
The global market for forged alloy aluminum wheels was valued at approximately USD 4.69 billion in 2024 and is projected to reach USD 8.51 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 6.8% during the forecast period. Another estimate places the global market at USD 8.27 billion in 2024, with a projected growth to USD 12 billion by 2035 at a CAGR of 3.4%. North America held a significant share, with its market for forged aluminum wheels valued at USD 2.56 billion in 2024, expected to grow to USD 3.68 billion by 2035.Aerospace Fastening Systems
The global aerospace fasteners market was valued at USD 6.78 billion in 2023 and is projected to grow to USD 12.76 billion by 2032, with a CAGR of 7.42%. Other projections estimate the global market to be valued at USD 7.3 billion in 2024, increasing to USD 11.3 billion by 2030 (CAGR of 7.6%). In 2025, the global market size is calculated at USD 7.85 billion and is forecasted to reach approximately USD 15.00 billion by 2034 (CAGR of 7.45%). North America held the largest share of this market, accounting for 40.27% in 2023, with a value of USD 2.73 billion. The U.S. market alone is projected to reach USD 3.73 billion by 2032.Jet Engine Components
The global aircraft engine parts and equipment market was valued at USD 271.6 billion in 2023 and is estimated to reach USD 438.6 billion by 2032, growing at a CAGR of 5.6%. Another source indicates the global aircraft engine market was valued at USD 81.2 billion in 2024 and is estimated to reach USD 183.7 billion by 2034, with an 8.7% CAGR. The engine segment held the largest revenue share, 36.4% in 2024, within the broader aerospace parts manufacturing market. In North America, the aircraft engine parts and equipment market value was approximately USD 97.8 billion in 2023. North America is also expected to lead the aircraft engine market, reaching a value of over USD 80.2 billion by 2034.Titanium Structural Parts for Aerospace Applications
The global aerospace titanium market, including titanium structural parts, was valued at USD 4.78 billion in 2025 and is forecasted to surpass USD 6.65 billion by 2035, growing at a CAGR of 3.33%. Another projection estimates the global aerospace titanium market size to grow from USD 3.98 billion in 2024 to USD 8.78 billion by 2035, at a CAGR of 7.46%. The global aerospace titanium machining market, a related segment, was valued at USD 6.66 billion in 2024 and is projected to reach USD 14.27 billion by 2033, with a CAGR of 8.8%. North America holds a leading position in the aerospace titanium market with a 40% share in 2025. The aerospace casting product market, which includes components from advanced alloys like titanium and nickel, reached USD 21.4 billion globally in 2024 and is expected to expand to approximately USD 41.3 billion by 2033, with a CAGR of 7.2%.AI Analysis | Feedback
Howmet Aerospace (HWM): Drivers of Future Revenue Growth
Over the next 2-3 years, Howmet Aerospace (HWM) is expected to experience revenue growth driven by several key factors:
- Robust Demand in Commercial Aerospace: Howmet Aerospace anticipates continued strong growth in the commercial aerospace sector. This is fueled by accelerating demand for engine spares, with commercial aerospace component sales rising significantly, and a substantial backlog for new, more fuel-efficient aircraft. The company reported a 15% increase in commercial aerospace revenue in Q3 2025, with commercial aero parts sales up 38% and total spares increasing by 31%. Howmet is investing in new manufacturing plants to support this growth in commercial aerospace.
- Sustained Growth in Defense Aerospace: The defense aerospace sector is another significant driver, demonstrating robust growth, particularly due to F-35 builds and engine spares. Howmet reported a 24% increase in defense aerospace revenue in Q3 2025, with engine spares in this sector rising by 33%.
- Expansion in Industrial Gas Turbine (IGT) and Oil & Gas Sectors: Howmet Aerospace projects further expansion within the Industrial Gas Turbine (IGT) and Oil & Gas sectors. Revenue in these areas is expected to be driven by a rise in operational turbines. The company's Engines segment saw a 33% increase in Oil & Gas revenue and a 23% increase in IGT revenue in Q3 2025. Howmet is investing in new manufacturing plants to support growth demands in the IGT sector.
- Increased Engine Spares Volume Across Markets: A consistent theme across commercial aerospace, defense aerospace, IGT, and oil & gas markets is the strong demand and increasing volume of engine spares. This is a crucial contributor to the overall revenue growth for Howmet's Engines product team. The combination of spares for Commercial Aero, Defense Aero, IGT, and Oil & Gas was up 31% in the third quarter of 2025.
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Share Repurchases
- Howmet Aerospace authorized an additional share repurchase program for up to $1.5 billion of its outstanding common stock in August 2021, bringing the total available authorization to $1.577 billion.
- In July 2024, the Board of Directors authorized a $2 billion increase in its share repurchase program.
- The company repurchased $500 million of common stock in 2024 and $600 million year-to-date through October 2025. As of October 30, 2025, approximately $1.6 billion in share repurchase authorization remained available.
Capital Expenditures
- Howmet Aerospace invested $321 million in capital expenditures in 2024, an increase of approximately $100 million year-over-year.
- For the year-to-date through October 2025, capital expenditures were approximately $330 million, surpassing the full year 2024 amount.
- Approximately 70% of the year-to-date 2025 capital expenditures are focused on the engines business to support growth in commercial aerospace and industrial gas turbines (IGT), including five plant expansions and a new Michigan aero-engine core and casting facility for the 2026 narrowbody ramp-up. Capital expenditures are expected to remain high through 2027 to capture these opportunities.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Better Bet Than Howmet Aerospace Stock: GE, VSEC Deliver More | 01/21/2026 | |
| Can GE Aerospace Outrun Howmet Aerospace in the Next Rally? | 01/17/2026 | |
| Why Howmet Aerospace Stock Jumped 90%? | 01/08/2026 | |
| Howmet Aerospace Earnings Notes | 12/26/2025 | |
| HWM Stock Surges 11% With A 5-day Winning Spree On $1.8B Acquisition | 12/25/2025 | |
| What Is Happening With Howmet Aerospace Stock? | 12/13/2025 | |
| How Low Can Howmet Aerospace Stock Really Go? | 10/17/2025 | |
| ARTICLES | ||
| Pay Less, Gain More: GE Tops Howmet Aerospace Stock | 01/21/2026 | |
| Is GE Aerospace a Better Buy Than Howmet Aerospace? | 01/17/2026 | |
| Why Howmet Aerospace Stock Jumped 70%? | 11/25/2025 | |
| Large Cap Stocks Trading At 52-Week High | 11/01/2025 | |
| S&P 500 Stocks Trading At 52-Week High | 10/30/2025 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 507.22 |
| Mkt Cap | 49.6 |
| Rev LTM | 6,279 |
| Op Inc LTM | 1,303 |
| FCF LTM | 898 |
| FCF 3Y Avg | 730 |
| CFO LTM | 1,195 |
| CFO 3Y Avg | 910 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.6% |
| Rev Chg 3Y Avg | 11.3% |
| Rev Chg Q | 8.9% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | 20.6% |
| Op Mgn 3Y Avg | 18.7% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 17.9% |
| CFO/Rev 3Y Avg | 17.3% |
| FCF/Rev LTM | 15.7% |
| FCF/Rev 3Y Avg | 14.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 49.6 |
| P/S | 6.7 |
| P/EBIT | 28.9 |
| P/E | 41.6 |
| P/CFO | 35.8 |
| Total Yield | 2.5% |
| Dividend Yield | 0.1% |
| FCF Yield 3Y Avg | 2.6% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 9.7% |
| 3M Rtn | 11.8% |
| 6M Rtn | 36.3% |
| 12M Rtn | 79.2% |
| 3Y Rtn | 262.8% |
| 1M Excs Rtn | 7.4% |
| 3M Excs Rtn | 11.4% |
| 6M Excs Rtn | 27.0% |
| 12M Excs Rtn | 65.9% |
| 3Y Excs Rtn | 210.6% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Engine Products | 3,279 | 2,702 | 2,286 | 2,411 | 3,331 |
| Fastening Systems | 1,349 | 1,117 | 1,044 | 1,245 | 1,561 |
| Forged Wheels | 1,147 | 1,058 | 921 | 679 | 969 |
| Engineered Structures | 881 | 796 | 731 | 934 | 1,268 |
| Inter-segment sales | -16 | -10 | -10 | -12 | -24 |
| Corporate | 2 | -7 | |||
| Total | 6,640 | 5,663 | 4,972 | 5,259 | 7,098 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Engine Products | 757 | 604 | 440 | 417 | 621 |
| Forged Wheels | 270 | 238 | 255 | 153 | 253 |
| Fastening Systems | 232 | 189 | 190 | 247 | 396 |
| Engineered Structures | 66 | 63 | 54 | 73 | 120 |
| Restructuring and other charges | -23 | -56 | -90 | -182 | -582 |
| Corporate expense | -99 | -119 | -101 | -82 | -229 |
| Total | 1,203 | 919 | 748 | 626 | 579 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Engine Products | 4,926 | 4,784 | 4,663 | 4,756 | 5,445 |
| Fastening Systems | 2,749 | 2,661 | 2,635 | 2,707 | 2,810 |
| Engineered Structures | 1,415 | 1,273 | 1,280 | 1,444 | 1,151 |
| Forged Wheels | 724 | 701 | 684 | 628 | 629 |
| Cash and cash equivalents | 610 | 791 | 720 | 1,610 | 1,577 |
| Other | 125 | 144 | 168 | 122 | 320 |
| Corporate fixed assets, net | 83 | 91 | 133 | 140 | 135 |
| Deferred income taxes | 46 | 54 | 184 | 272 | 209 |
| Fair value of derivative contracts | 0 | 6 | 2 | 5 | 6 |
| Accounts receivable securitization | -250 | -250 | -250 | -241 | -61 |
| Discontinued operations | 5,341 | ||||
| Total | 10,428 | 10,255 | 10,219 | 11,443 | 17,562 |
Price Behavior
Price Behavior
| Market Price | $223.16 | |
| Market Cap ($ Bil) | 89.9 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | -0.8% | |
| 50 Days | 200 Days | |
| DMA Price | $207.81 | $187.15 |
| DMA Trend | up | up |
| Distance from DMA | 7.4% | 19.2% |
| 3M | 1YR | |
| Volatility | 29.4% | 34.6% |
| Downside Capture | 117.66 | 101.71 |
| Upside Capture | 140.92 | 143.46 |
| Correlation (SPY) | 44.4% | 65.5% |
HWM Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.29 | 1.39 | 1.15 | 1.04 | 1.17 | 1.16 |
| Up Beta | 1.28 | 2.58 | 1.46 | 0.81 | 1.07 | 1.23 |
| Down Beta | 0.60 | 0.40 | 0.60 | 0.80 | 1.22 | 1.18 |
| Up Capture | 177% | 192% | 133% | 125% | 178% | 246% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 11 | 21 | 31 | 62 | 138 | 429 |
| Down Capture | 198% | 161% | 131% | 120% | 104% | 97% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 9 | 20 | 30 | 63 | 113 | 322 |
[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 HWM | |
|---|---|---|---|---|
| HWM | 75.6% | 34.5% | 1.68 | - |
| Sector ETF (XLI) | 27.7% | 19.2% | 1.15 | 71.2% |
| Equity (SPY) | 15.4% | 19.4% | 0.61 | 65.9% |
| Gold (GLD) | 73.9% | 24.8% | 2.19 | 2.4% |
| Commodities (DBC) | 8.9% | 16.6% | 0.34 | 28.2% |
| Real Estate (VNQ) | 4.6% | 16.5% | 0.10 | 44.2% |
| Bitcoin (BTCUSD) | -27.1% | 44.7% | -0.57 | 28.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HWM | |
|---|---|---|---|---|
| HWM | 55.4% | 31.8% | 1.44 | - |
| Sector ETF (XLI) | 16.8% | 17.2% | 0.79 | 69.5% |
| Equity (SPY) | 14.4% | 17.0% | 0.68 | 61.2% |
| Gold (GLD) | 21.4% | 16.9% | 1.03 | 6.8% |
| Commodities (DBC) | 11.5% | 18.9% | 0.49 | 21.2% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 41.9% |
| Bitcoin (BTCUSD) | 16.1% | 58.0% | 0.49 | 22.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HWM | |
|---|---|---|---|---|
| HWM | 35.0% | 40.3% | 0.88 | - |
| Sector ETF (XLI) | 15.2% | 19.8% | 0.68 | 69.4% |
| Equity (SPY) | 15.4% | 17.9% | 0.74 | 59.2% |
| Gold (GLD) | 15.7% | 15.5% | 0.84 | 2.1% |
| Commodities (DBC) | 8.0% | 17.6% | 0.37 | 28.8% |
| Real Estate (VNQ) | 6.0% | 20.7% | 0.25 | 46.6% |
| Bitcoin (BTCUSD) | 68.7% | 66.7% | 1.08 | 14.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/30/2025 | -0.8% | 1.4% | -2.3% |
| 7/31/2025 | -6.4% | -5.2% | -8.3% |
| 5/1/2025 | 6.8% | 13.4% | 22.7% |
| 2/13/2025 | -0.0% | 8.1% | -1.2% |
| 11/6/2024 | 12.4% | 11.3% | 17.6% |
| 7/30/2024 | 13.2% | 4.7% | 17.1% |
| 5/2/2024 | 15.5% | 21.9% | 26.8% |
| 2/13/2024 | 5.4% | 7.3% | 11.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 16 | 14 |
| # Negative | 9 | 8 | 10 |
| Median Positive | 5.4% | 6.8% | 12.4% |
| Median Negative | -1.7% | -1.5% | -3.8% |
| Max Positive | 19.0% | 21.9% | 35.0% |
| Max Negative | -7.0% | -13.2% | -12.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/13/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/14/2023 | 10-K |
| 09/30/2022 | 10/31/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
| 12/31/2021 | 02/14/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lin, Lola Felice | EVP, CL&CO and Secretary | Direct | Sell | 8062025 | 180.51 | 13,102 | 2,365,073 | 11,399,358 | Form |
| 2 | Marchuk, Neil Edward | EVP, HR | Direct | Sell | 5132025 | 158.53 | 30,000 | 4,756,017 | 20,904,122 | Form |
| 3 | Plant, John C | Executive Chairman & CEO | Trust | Sell | 5122025 | 156.96 | 650,000 | 102,026,015 | 86,515,863 | Form |
| 4 | Plant, John C | Executive Chairman & CEO | Remainder Trust | Sell | 5122025 | 156.96 | 150,000 | 23,544,465 | 37,128,680 | Form |
| 5 | Shultz, Barbara Lou | Vice President and Controller | Direct | Sell | 5072025 | 155.17 | 1,250 | 193,962 | 3,575,737 | Form |
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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