Tearsheet

Spirit AeroSystems (SPR)

Market Price (12/4/2025): $38.75 | Market Cap: $4.6 Bil
Sector: Industrials | Industry: Aerospace & Defense

Spirit AeroSystems (SPR)

Market Price (12/4/2025): $38.75
Market Cap: $4.6 Bil
Sector: Industrials
Industry: Aerospace & Defense

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Low stock price volatility Vol 12M is 27%	Weak multi-year price returns 3Y Excs Rtn is -12%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -2.2 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -34%
1	Megatrend and thematic drivers Megatrends include Advanced Aviation & Space, and Advanced Materials. Themes include Aerospace Structures, and Lightweight Composites.	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 114%
2			Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.3%
3			Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -9.6%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -13%
4			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -61%

0	Low stock price volatility Vol 12M is 27%
1	Megatrend and thematic drivers Megatrends include Advanced Aviation & Space, and Advanced Materials. Themes include Aerospace Structures, and Lightweight Composites.
2	Weak multi-year price returns 3Y Excs Rtn is -12%
3	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
4	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -2.2 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -34%
5	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 114%
6	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.3%
7	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -9.6%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -13%
8	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -61%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$38.75	$34.08	$31.78	$29.60	$43.05
Market Cap CYE ($ Bil)	4.6	4.0	3.5	3.1	4.5
Total Debt ($ Bil)	5.5	5.4	4.4	4.0	3.9
Total Cash ($ Bil)	0.3	0.5	0.8	0.7	1.5
Enterprise Value ($ Bil)	9.7	9.4	7.9	7.1	8.4
Valuation Ratios
P/S TTM	0.7	0.6	0.6	0.6	1.1
P/EBIT TTM	-2.0	-2.2	-12.3	-10.5	-14.4
P/E TTM	-1.7	-1.9	-5.5	-5.7	-8.3
Sector Ratios
P/S TTM (Sector)	1.6	1.5	1.4	1.1	1.6
P/EBIT TTM (Sector)	12.9	11.8	11.5	9.2	12.3
P/E TTM (Sector)	17.6	16.5	15.4	12.2	16.4

	12/4/25	2024	2023
Share Price CYE	$38.75	$34.08	$31.78
Market Cap CYE ($ Bil)	4.6	4.0	3.5
Total Debt ($ Bil)	5.5	5.4	4.4
Total Cash ($ Bil)	0.3	0.5	0.8
Enterprise Value ($ Bil)	9.7	9.4	7.9
Valuation Ratios
P/S TTM	0.7	0.6	0.6
P/EBIT TTM	-2.0	-2.2	-12.3
P/E TTM	-1.7	-1.9	-5.5
Sector Ratios
P/S TTM (Sector)	1.6	1.5	1.4
P/EBIT TTM (Sector)	12.9	11.8	11.5
P/E TTM (Sector)	17.6	16.5	15.4

	SPR	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	6.4
Rev Chg Q	7.8%	7.1%
Rev Chg LTM	-1.3%	6.1%
Rev Chg 3Y Avg	10.5%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-2.2
CFO LTM ($ Bil)	-0.6
Net Inc LTM ($ Bil)	-2.6
Op Mgn LTM	-33.9%	18.8%
CFO/Rev LTM	-9.6%	20.5%
Net Inc Mgn	-40.7%	13.1%
VALUATION	VERY LOW
P/S	0.7	3.2
P/CFO	-7.3	15.8
P/FCF	-5.5	20.5
P/E	-1.7	23.5
STABILITY	POOR
Debt/Equity	1.23	0.20
Cash/Assets	0.05	0.07

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Metric	Value	Date	Source
Backlog	approximately $52 billion	10312025	Link
Total Shipset Deliveries	392	9302025	Link
Boeing 737 Shipset Deliveries	90	9302025	Link
Customer Concentration - Boeing	64% of revenue	12312023	Link
Customer Concentration - Airbus	19% of revenue	12312023	Link
Customer Portfolio	Boeing, Airbus, Bell Helicopter, Bombardier, Mitsubishi, Northrop Grumman, Rolls-Royce, and Sikorsky	10312025	Link

Upcoming
2/27/2026	Earnings Release	Rev: - EPS: -

SPR Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are key points highlighting potential reasons for a -5% stock movement for Spirit AeroSystems (SPR) from August 31, 2025, to December 4, 2025: 1. Spirit AeroSystems reported a significant earnings per share (EPS) miss and lower-than-expected revenue for the third quarter of 2025. The company posted an adjusted EPS of $(4.87), substantially missing the consensus estimate of $(0.37), and revenue of $1.59 billion against an estimated $1.92 billion.

2. The company experienced wider operating losses in Q3 2025. These losses were primarily attributed to higher "changes in estimates charges" and lower program margins on Boeing contracts, driven largely by increases in supply chain and production costs.

Stock Movement Drivers

Fundamental Drivers

The -4.3% change in SPR stock from 9/3/2025 to 12/3/2025 was primarily driven by a -6.1% change in the company's P/S Multiple.

	9032025	12032025	Change
Stock Price ($)	41.27	39.50	-4.29%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	6278.80	6393.60	1.83%
P/S Multiple	0.77	0.73	-6.09%
Shares Outstanding (Mil)	117.70	117.60	0.08%
Cumulative Contribution			-4.29%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
SPR	-4.3%
Market (SPY)	6.2%	35.0%
Sector (XLI)	2.9%	43.5%

Fundamental Drivers

The 4.5% change in SPR stock from 6/4/2025 to 12/3/2025 was primarily driven by a 4.2% change in the company's Total Revenues ($ Mil).

	6042025	12032025	Change
Stock Price ($)	37.79	39.50	4.53%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	6135.60	6393.60	4.20%
P/S Multiple	0.72	0.73	0.31%
Shares Outstanding (Mil)	117.60	117.60	0.00%
Cumulative Contribution			4.53%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
SPR	4.5%
Market (SPY)	15.1%	35.1%
Sector (XLI)	7.6%	47.5%

Fundamental Drivers

The 21.8% change in SPR stock from 12/3/2024 to 12/3/2025 was primarily driven by a 23.8% change in the company's P/S Multiple.

	12032024	12032025	Change
Stock Price ($)	32.43	39.50	21.80%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	6478.20	6393.60	-1.31%
P/S Multiple	0.59	0.73	23.83%
Shares Outstanding (Mil)	117.20	117.60	-0.34%
Cumulative Contribution			21.80%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
SPR	21.8%
Market (SPY)	14.3%	57.6%
Sector (XLI)	9.8%	62.0%

Fundamental Drivers

The 44.2% change in SPR stock from 12/4/2022 to 12/3/2025 was primarily driven by a 33.8% change in the company's Total Revenues ($ Mil).

	12042022	12032025	Change
Stock Price ($)	27.40	39.50	44.16%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4779.60	6393.60	33.77%
P/S Multiple	0.60	0.73	21.05%
Shares Outstanding (Mil)	104.70	117.60	-12.32%
Cumulative Contribution			41.97%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
SPR	40.6%
Market (SPY)	53.2%	31.8%
Sector (XLI)	45.4%	35.8%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
SPR Return	-46%	10%	-31%	7%	7%	10%	-48%
Peers Return	-15%	-0%	19%	26%	28%	25%	103%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
SPR Win Rate	33%	42%	50%	58%	42%	60%
Peers Win Rate	45%	43%	43%	52%	48%	54%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
SPR Max Drawdown	-76%	-13%	-49%	-50%	-20%	-15%
Peers Max Drawdown	-49%	-12%	-7%	-4%	-6%	-21%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: CW, BWXT, PSN, HXL, APEX. See SPR 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] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	SPR	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-72.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	257.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-77.1%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	336.9%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	Not Fully Recovered days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-36.2%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	56.6%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-80.7%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	419.2%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	2173 days	1480 days

Compare to CW, BWXT, PSN, HXL, APEX

In The Past

Spirit AeroSystems's stock fell -72.1% during the 2022 Inflation Shock from a high on 2/16/2022. A -72.1% loss requires a 257.9% gain to breakeven.

Preserve Wealth

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About Spirit AeroSystems (SPR)

Spirit AeroSystems Holdings, Inc. designs, engineers, manufactures, and markets commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, struts/pylons, nacelles, and related engine structural components; and wings and wing components, including flight control surfaces, as well as other structural parts. This segment primarily serves the aircraft original equipment manufacturers (OEMs) or engine OEMs of large commercial aircraft and/or business/regional jet programs. The Defense & Space segment provides fuselage, strut, nacelle, and wing aerostructures primarily for U.S. Government defense programs, including Boeing P-8, C40, and KC-46 Tanker. This segment also engages in the fabrication, bonding, assembly, testing, tooling, processing, engineering analysis, and training on fixed wing aircraft aerostructures, missiles, and hypersonics works, such as solid rocket motor throats, nozzles, re-entry vehicle thermal protections systems, forward cockpit and cabin, and fuselage work on rotorcraft aerostructures. The Aftermarket segment offers spare parts and MRO services, repairs for flight control surfaces and nacelles, radome repairs, rotable assets, engineering services, advanced composite repairs, and other repair and overhaul services. Spirit AeroSystems Holdings, Inc. has a strategic partnership with Sierra Space to enhance access to commercial space economy of the future. The company was formerly known as Mid-Western Aircraft Systems Holdings, Inc. Spirit AeroSystems Holdings, Inc. was founded in 1927 and is headquartered in Wichita, Kansas.

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Here are 1-3 brief analogies for Spirit AeroSystems (SPR):

Spirit AeroSystems is like Magna International for airplanes.
Spirit AeroSystems is like Cummins for aircraft structural components.

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Fuselage Sections: Design and manufacturing of major structural components that form the body of an aircraft, including front, mid, and rear sections.
Wings and Wing Components: Production of complete wing assemblies and critical components such as leading edges, trailing edges, and wing spars.
Nacelles and Pylons: Development and manufacturing of integrated engine housing (nacelles) and the structures that attach engines to the airframe (pylons).

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Spirit AeroSystems (SPR) sells primarily to other companies.

Its major customers are:

Boeing (NYSE: BA)
Airbus (OTC: EADSY)

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Triumph Group (TGI)
Howmet Aerospace (HWM)
Hexcel Corporation (HXL)
Korean Air (003490.KS)

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Patrick M. Shanahan, President & Chief Executive Officer

Patrick M. Shanahan was appointed President and Chief Executive Officer of Spirit AeroSystems on September 30, 2023. His career spans both commercial and military programs, including 31 years with The Boeing Company where he held positions such as Senior Vice President of Supply Chain and Operations, Senior Vice President of Commercial Airplane Programs, and Vice President and General Manager of the 787 Dreamliner. Shanahan also served as the 33rd Deputy Secretary of Defense and Acting Secretary of Defense, leading the development of key Department of Defense policies and strategies. He is also the founder of the Joint Artificial Intelligence Center in 2018. Shanahan currently serves on the boards of Leidos Holdings, Inc. and CAE Inc.

Irene Esteves, Executive Vice President, Chief Financial Officer

Irene Esteves was appointed Executive Vice President and Chief Financial Officer for Spirit AeroSystems, effective June 5, 2024, succeeding Mark Suchinski. She has extensive experience in finance and corporate strategy across multiple industries. Esteves previously served as Executive Vice President and Chief Financial Officer of Time Warner Cable Inc., XL Group plc, and Regions Financial Corporation. She has been a member of the Spirit AeroSystems Board of Directors since May 2015 and also serves on the boards of Roper Technologies, Inc. and KKR Real Estate Finance Investment Trust.

Dr. Sean Black, Senior Vice President Engineering and R&T, Chief Technology Officer

Dr. Sean Black holds the position of Senior Vice President, Engineering and Research & Technology, and Chief Technology Officer at Spirit AeroSystems. Prior to this role, he served as the Vice President and Chief Engineer for Research & Technology.

Scott McLarty, Senior Vice President, Airbus & Regional/Business Jets Programs

Scott McLarty is the Senior Vice President of Airbus and Regional/Business Jets Programs at Spirit AeroSystems. He joined Spirit in April 2006 as part of the acquisition of the UK BAE Systems' Aerostructures business unit. Throughout his 26-plus year career in the aerospace industry, McLarty has held various leadership roles in Operations, Project Management, Business Improvement, Supply Chain, and Human Resources, working on programs for Boeing, Airbus, Hawker, Business Jets, and Jetstream aircraft. He previously held positions as Director of Business Planning & Support and Business Improvement Director at BAE Systems.

Justin Welner, Senior Vice President, Chief Administration & Compliance Officer

Justin Welner serves as the Senior Vice President, Chief Administration & Compliance Officer at Spirit AeroSystems.

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Spirit AeroSystems (SPR) operates primarily in three business segments: Commercial, Defense & Space, and Aftermarket. The addressable market sizes for their main products and services are as follows:

Commercial Aircraft Aerostructures: The global commercial aircraft aerostructures market size is estimated at USD 60.84 billion in 2025. This market is projected to grow to USD 81.56 billion by 2030, at a compound annual growth rate (CAGR) of 6.04% from 2025 to 2030.
Defense & Space Aerostructures: null
Business & Regional Jet Aerostructures: null
Aftermarket Services (Aircraft Maintenance, Repair, and Overhaul - MRO): The global market size for aircraft maintenance, repair, and overhauling services is projected to expand from USD 85.13 billion in 2024 to USD 91.03 billion in 2025, with a CAGR of 6.9%. The market is predicted to reach USD 120.23 billion by 2029.

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Spirit AeroSystems (SPR) is expected to experience future revenue growth over the next 2-3 years driven by several key factors:

Increased Production Rates for Commercial Aircraft Programs: A primary driver of revenue growth for Spirit AeroSystems is the anticipated increase in production activity across its major commercial aircraft programs with both Boeing and Airbus. The company reported higher production in Q3 2025 and Q2 2025, citing a significant rebound in Boeing 737 deliveries, which were delayed in 2024 due to a joint product verification process. This positive trend is further supported by Spirit's substantial backlog, which stood at approximately $52 billion at the end of the third quarter of 2025, encompassing work packages on all commercial platforms in the Airbus and Boeing backlog. The company's revenue is forecast to climb 14.2% per year, exceeding the US market's expected 10.4% pace.
Growth in Defense & Space Programs: The Defense & Space segment is another significant contributor to Spirit AeroSystems' future revenue growth. This segment has consistently shown increased revenue due to higher activity on development and classified programs, as well as specific platforms such as the Sikorsky CH-53K, Boeing P-8, and FLARA programs.
Expansion of Aftermarket Services: Spirit AeroSystems is seeing growth in its aftermarket segment, with increased revenue primarily driven by higher spare part sales and an uptick in maintenance, repair, and overhaul (MRO) activity. This indicates a growing demand for Spirit's support services post-delivery.

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Share Repurchases

Spirit AeroSystems' share repurchases have been minimal, with quarterly amounts generally in the hundreds of thousands or low millions of dollars from 2020 to 2025.
As of October 2, 2025, share repurchases are on hold due to restrictions from a credit agreement.
Approximately $925.0 million remains authorized under the current share repurchase program as of October 2025.

Share Issuance

In the fourth quarter of 2024, Spirit AeroSystems reported $220.7 million in proceeds from the issuance of common stock, net.

Inbound Investments

Boeing entered into a definitive agreement in July 2024 to acquire Spirit AeroSystems in an all-stock transaction valued at approximately $4.7 billion in equity value and $8.3 billion in enterprise value (including debt), with the closing anticipated in mid-2025.
Boeing provided Spirit AeroSystems with $425 million in advance payments in April 2024 to address inventory, contract asset levels, and operational cash flow.

Outbound Investments

In October 2020, Spirit acquired Bombardier Aviation's aerostructures activities and aftermarket services operations in Belfast and Casablanca.
In April 2025, Spirit announced a definitive agreement with Airbus to transfer ownership of certain assets and sites involved in Airbus aerostructure production directly to Airbus, including cash payments totaling $580.9 million to Spirit.
Spirit announced a purchase agreement in August 2025 to sell its facility and businesses in Subang, Malaysia, to Composites Technology Research Malaysia Sdn Bhd (CTRM) for $95.2 million.

Capital Expenditures

Spirit AeroSystems reported capital expenditures of -$193.3 million as of July 3, 2025.
The company announced a $100 million investment in its Oklahoma City plant in August 2025 to enhance digital infrastructure and automation capabilities.
Spirit expects significant capital investments and hiring in facilities like Belfast, particularly in the latter half of 2024 and into 2025, due to anticipated rate increases on A350 and A220 programs.

Better Bets than Spirit AeroSystems (SPR)

	SPR	Better Performance than SPR
Metric	Value	INDUSTRY: Aerospace & Defense
Rev Chg LTM	-1.3%	GE (17.7%), GD (11.9%), BA (10.2%), RTX (8.8%), LMT (2.9%)
Rev Chg 3Y Avg	10.5%	AXON (33.7%), HEI (27.3%), TDG (18.2%), GE (15.7%), HWM (13.5%)
Op Mgn LTM	-33.9%	GE (20.5%), GD (10.3%), RTX (10.3%), LMT (8.2%), BA (-10.4%)
CFO/Rev LTM	-9.6%	GE (17.2%), GD (11.1%), RTX (9.3%), LMT (8.7%), BA (-4.6%)
FCF/Rev LTM	-12.6%	GE (14.7%), GD (9.3%), LMT (6.3%), RTX (5.5%), BA (-7.9%)
Total Yield	-57.3%	GD (6.3%), LMT (5.6%), RTX (4.5%), GE (2.5%), BA (-6.0%)
P/S	0.7	GPUS (0.1), AIRI (0.2), SIF (0.3), VVX (0.4), CVU (0.6)
P/Op Inc	-2.1

	SPR	Better Performance than SPR
Metric	Value	SECTOR: Industrials
Rev Chg LTM	-1.3%	UBER (18.2%), GE (17.7%), BA (10.2%), GEV (9.4%), RTX (8.8%)
Rev Chg 3Y Avg	10.5%	UBER (19.6%), TDG (18.2%), GE (15.7%), HWM (13.5%), TT (10.8%)
Op Mgn LTM	-33.9%	GE (20.5%), CAT (18.2%), RTX (10.3%), UBER (9.2%), GEV (3.7%)
CFO/Rev LTM	-9.6%	UBER (18.1%), CAT (18.0%), GE (17.2%), RTX (9.3%), GEV (9.1%)
FCF/Rev LTM	-12.6%	UBER (17.5%), GE (14.7%), CAT (12.3%), GEV (6.6%), RTX (5.5%)
Total Yield	-57.3%	UBER (8.1%), CAT (6.7%), RTX (4.5%), GE (2.5%), GEV (1.1%)
P/S	0.7	WCC (0.4), UAL (0.5), DAL (0.6), FDX (0.6), LUV (0.6)
P/Op Inc	-2.1

	SPR	Better Performance than SPR
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	-1.3%	NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	10.5%	NVDA (92.0%), AVGO (24.0%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%)
Op Mgn LTM	-33.9%	NVDA (58.1%), MSFT (46.3%), GOOGL (32.2%), AAPL (31.9%), AMZN (11.4%)
CFO/Rev LTM	-9.6%	MSFT (50.0%), NVDA (46.6%), GOOGL (39.3%), AAPL (26.6%), AMZN (18.1%)
FCF/Rev LTM	-12.6%	NVDA (43.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%), AMZN (2.0%)
Total Yield	-57.3%	GOOGL (4.6%), MSFT (3.4%), AMZN (3.0%), AAPL (3.0%), NVDA (2.3%)
P/S	0.7	CVS (0.2), MCK (0.2), CI (0.3), GM (0.3), ELV (0.4)
P/Op Inc	-2.1

		Best Bets In Industrials Sector
	SPR
What You Pay
P/E	-1.7
P/EBIT	-2.1
What You Get
Rev Chg Q	7.8%
Rev Chg LTM	-1.3%
Rev Chg 3Y Avg	10.5%
FCF/Rev 3Y Avg	-13.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	null
2	SPR Dip Buy Analysis
3	Spirit AeroSystems Total Shareholder Return (TSR): 7.2% in 2024 and -7.4% 3-yr compounded annual returns (below peer average)
4	Spirit AeroSystems (SPR) Operating Cash Flow Comparison	Financials
5	Spirit AeroSystems (SPR) Net Income Comparison	Financials
6	Spirit AeroSystems (SPR) Operating Income Comparison	Financials
7	Spirit AeroSystems (SPR) Revenue Comparison	Financials
8	Spirit AeroSystems vs. S&P500 Correlation	Correlation
9	Spirit AeroSystems Price Volatility	Volatility
10	Fundamental Metrics: Spirit AeroSystems
11	ARTICLES
12	Small Cap Stocks Trading Near 52W High		July 10th, 2025
13	With Boeing Pessimistic, Should Spirit Aerosystems’ Investors Stay In High Spirits?		July 21st, 2020
14	How Spirit AeroSystems Stock Has Benefited From the Deal To Buy Bombardier’s Aerostructures Business		November 21st, 2019

	Title
0	DASHBOARDS
1	null
2	SPR Dip Buy Analysis
3	Spirit AeroSystems Total Shareholder Return (TSR): 7.2% in 2024 and -7.4% 3-yr compounded annual returns (below peer average)
4	Spirit AeroSystems (SPR) Operating Cash Flow Comparison
5	Spirit AeroSystems (SPR) Net Income Comparison
6	Spirit AeroSystems (SPR) Operating Income Comparison
7	Spirit AeroSystems (SPR) Revenue Comparison
8	Spirit AeroSystems vs. S&P500 Correlation
9	Spirit AeroSystems Price Volatility
10	Fundamental Metrics: Spirit AeroSystems
11	ARTICLES
12	Small Cap Stocks Trading Near 52W High
13	With Boeing Pessimistic, Should Spirit Aerosystems’ Investors Stay In High Spirits?
14	How Spirit AeroSystems Stock Has Benefited From the Deal To Buy Bombardier’s Aerostructures Business

Trade Ideas

Select past ideas related to SPR. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	9.5%	9.5%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.2%	3.2%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	7.5%	7.5%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.8%	2.8%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	0.0%	0.0%	0.0%
SPR_3312020_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	03312020	SPR	Spirit AeroSystems	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	-20.5%	103.6%	-28.3%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	9.5%	9.5%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.2%	3.2%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	7.5%	7.5%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.8%	2.8%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	0.0%	0.0%	0.0%
SPR_3312020_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	03312020	SPR	Spirit AeroSystems	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	-20.5%	103.6%	-28.3%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for Spirit AeroSystems

Peers to compare with:

Financials

	SPR	CW	BWXT	PSN	HXL	APEX	Median
Name	Spirit A.	Curtiss-.	BWX Tech.	Parsons	Hexcel	APEX Glo.
Mkt Price	39.50	535.89	174.71	82.90	75.38	-	82.90
Mkt Cap	4.6	20.1	16.0	8.9	6.0	-	8.9
Rev LTM	6,394	3,376	3,059	6,495	1,876	-	3,376
Op Inc LTM	-2,165	618	333	411	119	-	333
FCF LTM	-803	517	463	383	194	-	383
FCF 3Y Avg	-869	469	250	398	167	-	250
CFO LTM	-614	592	630	438	268	-	438
CFO 3Y Avg	-708	525	411	444	256	-	411

Growth & Margins

	SPR	CW	BWXT	PSN	HXL	APEX	Median
Name	Spirit A.	Curtiss-.	BWX Tech.	Parsons	Hexcel	APEX Glo.
Rev Chg LTM	-1.3%	9.5%	14.0%	-0.2%	-0.5%	-	-0.2%
Rev Chg 3Y Avg	10.5%	11.1%	11.6%	17.9%	7.8%	-	11.1%
Rev Chg Q	7.8%	8.8%	28.9%	-10.4%	-0.1%	-	7.8%
QoQ Delta Rev Chg LTM	1.8%	2.1%	6.8%	-2.8%	-0.0%	-	1.8%
Op Mgn LTM	-33.9%	18.3%	10.9%	6.3%	6.3%	-	6.3%
Op Mgn 3Y Avg	-19.5%	17.6%	12.5%	6.2%	10.0%	-	10.0%
QoQ Delta Op Mgn LTM	-4.5%	0.2%	-0.4%	-0.0%	-0.9%	-	-0.4%
CFO/Rev LTM	-9.6%	17.5%	20.6%	6.7%	14.3%	-	14.3%
CFO/Rev 3Y Avg	-11.3%	16.9%	14.7%	7.3%	13.9%	-	13.9%
FCF/Rev LTM	-12.6%	15.3%	15.1%	5.9%	10.3%	-	10.3%
FCF/Rev 3Y Avg	-13.9%	15.2%	8.7%	6.5%	9.0%	-	8.7%

Valuation

	SPR	CW	BWXT	PSN	HXL	APEX	Median
Name	Spirit A.	Curtiss-.	BWX Tech.	Parsons	Hexcel	APEX Glo.
Mkt Cap	4.6	20.1	16.0	8.9	6.0	-	8.9
P/S	0.7	6.0	5.5	1.4	2.7	-	2.7
P/EBIT	-2.1	31.8	40.4	20.7	41.8	-	31.8
P/E	-1.7	43.7	55.0	36.9	72.7	-	43.7
P/CFO	-7.4	34.3	26.8	20.2	18.7	-	20.2
Total Yield	-57.3%	2.4%	2.4%	2.7%	1.9%	-	2.4%
Dividend Yield	0.0%	0.1%	0.5%	0.0%	0.5%	-	0.1%
FCF Yield 3Y Avg	-26.9%	4.0%	2.0%	4.6%	3.3%	-	3.3%
D/E	1.2	0.1	0.1	0.2	0.2	-	0.2
Net D/E	1.1	0.0	0.1	0.1	0.1	-	0.1

Returns

	SPR	CW	BWXT	PSN	HXL	APEX	Median
Name	Spirit A.	Curtiss-.	BWX Tech.	Parsons	Hexcel	APEX Glo.
1M Rtn	8.2%	-10.9%	-18.9%	4.0%	4.5%	-	4.0%
3M Rtn	-4.3%	12.2%	8.7%	5.4%	18.3%	-	8.7%
6M Rtn	4.5%	20.0%	36.0%	20.5%	35.8%	-	20.5%
12M Rtn	21.8%	44.7%	36.3%	-12.5%	19.3%	-	21.8%
3Y Rtn	44.2%	199.8%	189.4%	68.2%	24.9%	-	68.2%
1M Excs Rtn	8.3%	-10.9%	-18.9%	4.0%	4.5%	-	4.0%
3M Excs Rtn	-9.4%	6.1%	1.5%	6.8%	12.5%	-	6.1%
6M Excs Rtn	-10.2%	5.3%	21.2%	5.8%	21.1%	-	5.8%
12M Excs Rtn	8.5%	30.2%	21.0%	-27.1%	6.7%	-	8.5%
3Y Excs Rtn	-11.9%	131.5%	127.2%	-0.8%	-40.7%	-	-0.8%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	10/2/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/31/2025	2/28/2025	2/22/2024	2/17/2023	2/15/2022	2/25/2021	2/28/2020
Key Financials
Total Revenue	6,394	6,317	6,048	5,030	3,953	3,405	7,863
EBITDA	-1,932	-1,483	41	42	15	-613	1,007
Operating Income	-2,165	-1,786	-165	-288	-451	-717	761
Net Income	-2,599	-2,140	-616	-546	-541	-870	530
EPS	-22.11	-18.32	-5.78	-5.21	-5.19	-8.38	5.11
Growth Rates
Total Revenue Growth	-1.3%	4.4%	20.2%	27.2%	16.1%	-56.7%	8.9%
EBITDA Growth	-163.5%	-3716.3%	-1.9%	178.7%	102.4%	-160.9%	-5.7%
Operating Income Growth	-117.6%	-984.2%	42.8%	36.2%	37.1%	-194.2%	-8.7%
Net Income Growth	-81.3%	-247.3%	-12.9%	-0.9%	37.9%	-264.2%	-14.1%
Margins
EBITDA Margin	-30.2%	-23.5%	0.7%	0.8%	0.4%	-18.0%	12.8%
Operating Income Margin	-33.9%	-28.3%	-2.7%	-5.7%	-11.4%	-21.1%	9.7%
Net Income Margin	-40.7%	-33.9%	-10.2%	-10.8%	-13.7%	-25.6%	6.7%
Cash & Debt
Total Cash	299	537	824	659	1,479	1,873	2,350
Total Debt	5,489	5,378	4,357	3,962	3,879	3,946	3,083
Net Debt / (Cash)	5,190	4,841	3,533	3,304	2,401	2,072	733
Cash Flows
Net Cash from Operations	-614	-1,121	-226	-395	-63	-745	923
Free Cash from Operations	-803	-1,273	-374	-516	-214	-864	690
Returns to Shareholders
Dividends	0	-0	-0	4	4	15	50
Share Repurchases	-0	-0	-0	-0	-0	-0	76

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	10/2/2025	7/3/2025	3/31/2025	12/31/2024	9/26/2024	6/27/2024	3/28/2024	12/31/2023	9/28/2023	6/29/2023	3/30/2023	12/31/2022
Filing Date	10/31/2025	8/5/2025	5/1/2025	2/28/2025	11/5/2024	8/5/2024	5/7/2024	2/22/2024	11/1/2023	8/2/2023	5/3/2023	2/17/2023
Key Financials Quarterly
Total Revenue	1,585	1,635	1,522	1,651	1,471	1,492	1,703	1,813	1,439	1,365	1,431	1,320
Ebitda	-575	-443	-438	-476	-306	-253	-447	273	-47	-52	-133	-99
Operating Income	-669	-351	-567	-577	-350	-330	-528	213	-134	-120	-125	-139
Net Income	-724	-631	-613	-631	-477	-415	-617	75	-204	-206	-281	-243
EPS	-6.16	-5.36	-5.21	-5.38	-4.07	-3.56	-5.31	0.53	-1.94	-1.96	-2.68	-2.32
Key Financials TTM
Total Revenue TTM	6,394	6,279	6,136	6,317	6,478	6,446	6,319	6,048	5,555	5,393	5,286	5,030
Ebitda TTM	-1,932	-1,663	-1,473	-1,483	-733	-474	-274	41	-332	-238	-172	42
Operating Income TTM	-2,165	-1,846	-1,826	-1,786	-995	-779	-568	-165	-517	-378	-370	-288
Net Income TTM	-2,599	-2,352	-2,136	-2,140	-1,434	-1,161	-952	-616	-935	-858	-774	-546
Growth Rates Quarterly
Total Revenue Growth	7.8%	9.6%	-10.6%	-8.9%	2.2%	9.3%	19.0%	37.3%	12.7%	8.5%	21.9%	23.4%
EBITDA Growth	-88.0%	-74.8%	2.1%	-274.3%	-547.9%	-382.3%	-237.4%	375.5%	-201.3%	-483.2%	-264.3%	-779.5%
Operating Income Growth	-91.1%	-6.2%	-7.5%	-370.8%	-161.9%	-176.6%	-323.1%	253.6%	-3071.1%	-7.2%	-196.9%	-75.9%
Net Income Growth	-51.9%	-51.9%	0.6%	-936.7%	-133.7%	-101.3%	-119.3%	131.0%	-60.0%	-68.8%	-432.6%	-102.1%
Margins Quarterly
EBITDA Margin	-36.3%	-27.1%	-28.8%	-28.8%	-20.8%	-17.0%	-26.3%	15.1%	-3.3%	-3.8%	-9.3%	-7.5%
Operating Income Margin	-42.2%	-21.5%	-37.3%	-35.0%	-23.8%	-22.2%	-31.0%	11.8%	-9.3%	-8.8%	-8.7%	-10.5%
Net Income Margin	-45.7%	-38.6%	-40.3%	-38.2%	-32.4%	-27.8%	-36.2%	4.2%	-14.2%	-15.1%	-19.6%	-18.4%
Cash & Debt
Total Cash	299	370	228	537	218	206	352	824	374	526	568	659
Total Debt	5,489	5,433	5,391	5,378	5,142	4,151	4,165	4,357	3,968	3,962	3,963	3,962
Net Debt / (Cash)	5,190	5,064	5,162	4,841	4,924	3,945	3,813	3,533	3,594	3,436	3,396	3,304
Cash Flows Quarterly
FCF from Operations	-187	-144	-420	137	-276	-566	-416	114	-110	-183	-46	-27
Cash Flows TTM
FCF from Operations TTM	-614	-703	-1,125	-1,121	-1,144	-978	-595	-226	-367	-292	-171	-395
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	1
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-51.4%	-27.7%	-44.0%	-46.4%	-28.4%	-33.5%	-55.3%	18.8%	-14.9%	-13.9%	-14.5%	-15.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-41.7%	-36.5%	-35.2%	-36.8%	-20.2%	-19.7%	-14.9%	-4.7%	-14.2%	-11.0%	-10.9%	-8.7%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Commercial	4,885	4,068	3,128	2,711
Defense & Space	789	650	585	491
Aftermarket	374	311	240	202
Corporate and Other	0
All Other					11
Fuselage Systems					4,206
Propulsion Systems					2,058
Wing Systems					1,588
Total	6,048	5,030	3,953	3,405	7,863

Operating Income by Segment

$ Mil	2024	2023	2022	2021	2020
Aftermarket	82	58	50	37
Commercial	66	-83	-221	-621
Defense & Space	45	73	44	47
Corporate and Other	0
Research and development	-45	-50	-53	-39	-54
Selling, general and administrative	-282	-279	-280	-237	-261
All Other					3
Fuselage Systems					441
Propulsion Systems					405
Unallocated cost of sales					12
Wing Systems					216
Total	-134	-281	-459	-813	761

Price Behavior

Price Behavior

Market Price	$39.50
Market Cap ($ Bil)	4.6
First Trading Date	11/28/2006
Distance from 52W High	-5.8%
	50 Days	200 Days
DMA Price	$37.56	$37.29
DMA Trend	indeterminate	down
Distance from DMA	5.2%	5.9%
	3M	1YR
Volatility	27.7%	27.0%
Downside Capture	136.48	71.12
Upside Capture	77.85	81.10
Correlation (SPY)	34.6%	58.4%

SPR Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.44	0.85	0.67	0.76	0.78	0.86
Up Beta	0.06	0.90	0.91	0.84	0.84	0.75
Down Beta	0.56	0.33	0.38	0.42	0.82	0.90
Up Capture	57%	73%	24%	61%	59%	73%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	10	21	27	60	124	376
Down Capture	48%	124%	113%	109%	76%	99%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	20	35	64	123	365

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of SPR With Other Asset Classes (Last 1Y)
	SPR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	21.4%	8.9%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	26.9%	18.9%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	0.70	0.32	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		61.6%	57.4%	12.0%	26.9%	35.4%	31.0%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of SPR With Other Asset Classes (Last 5Y)
	SPR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	2.2%	13.1%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	50.3%	17.2%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	0.23	0.61	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		46.4%	42.1%	12.5%	17.5%	34.1%	19.8%

Based On 10-Year Data

		Comparison of SPR With Other Asset Classes (Last 10Y)
	SPR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-2.7%	12.8%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	51.9%	19.9%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.16	0.57	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		57.2%	47.0%	4.6%	23.6%	43.1%	13.1%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	12,653,242
Short Interest: % Change Since 10312025	2.2%
Average Daily Volume	1,380,936
Days-to-Cover Short Interest	9.16
Basic Shares Quantity	117,600,000
Short % of Basic Shares	10.8%

Returns Analyses

	Title
0	Spirit AeroSystems Stock Return Comparison
1	Spirit AeroSystems Total Shareholder Return (TSR): -31.2% in 2022 and -25.9% 3-yr returns (below peer average)
2	Spirit Aerosystems (SPR) Stock Return: AI Predicts SPR Average and Excess Return After a Fall or Rise

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10312025	10-Q 10/2/2025
6302025	8052025	10-Q 7/3/2025
3312025	5012025	10-Q 3/31/2025
12312024	2282025	10-K 12/31/2024
9302024	11052024	10-Q 9/26/2024
6302024	8052024	10-Q 6/27/2024
3312024	5072024	10-Q 3/28/2024
12312023	2222024	10-K 12/31/2023
9302023	11012023	10-Q 9/28/2023
6302023	8022023	10-Q 6/29/2023
3312023	5032023	10-Q 3/30/2023
12312022	2172023	10-K 12/31/2022
9302022	11032022	10-Q 9/29/2022
6302022	8032022	10-Q 6/30/2022
3312022	5042022	10-Q 3/31/2022
12312021	2152022	10-K 12/31/2021

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Spirit AeroSystems (SPR)

Market Price (12/4/2025): $38.75 | Market Cap: $4.6 BilSector: Industrials | Industry: Aerospace & Defense

Spirit AeroSystems (SPR)

Market Price (12/4/2025): $38.75Market Cap: $4.6 BilSector: IndustrialsIndustry: Aerospace & Defense

Valuation, Metrics & Events

SPR Stock

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Market Price (12/4/2025): $38.75 | Market Cap: $4.6 Bil
Sector: Industrials | Industry: Aerospace & Defense

Market Price (12/4/2025): $38.75
Market Cap: $4.6 Bil
Sector: Industrials
Industry: Aerospace & Defense