Recent News
On October 30, 2025 the company reported record third‑quarter 2025 revenue of $2.09 billion and operating income margin near 25.9%. On November 3, 2025 Howmet priced a $500 million note offering to refinance higher‑coupon 2027 debt. On December 22, 2025 Howmet announced acquisition of Consolidated Aerospace Manufacturing from Stanley Black & Decker for about $1.8 billion. On January 15, 2026 the company scheduled a webcast to release fourth‑quarter and full‑year 2025 results.
Technical Analysis
ADX at 20.41 indicates an emerging trend strength rather than a dominant directional regime; that emerging strength frames valuation-driven upside potential.
DI+ at 25.95 shows a clear dip‑and‑reversal, a bullish directional signal; DI‑ at 16.85 is decreasing, which reinforces the bullish directional split and favors near‑term upward bias.
MACD sits at 5.28 and trends increasing while the MACD signal equals 4.00; MACD above its signal line constitutes a bullish momentum confirmation that supports the short‑term price bias.
MRO at 28.41 with a dip‑and‑reversal trend indicates the price sits above the regression target and carries potential for a mean reversion; the positive MRO value implies elevated downside risk if momentum weakens.
RSI 59.42 and rising reflects constructive buying momentum without extreme overbought readings, supporting additional upside before an overextension signal appears.
Price sits above the 12‑ and 26‑day EMAs (12‑day EMA $217.12 increasing; 26‑day EMA $211.35) and above the 20‑day average $215.00 and 50‑day average $204.86, signaling near‑term trend alignment with higher averages; the supertrend lower at $211.93 and the 20‑day average provide proximate technical support.
Bollinger context shows price trading above the 1× upper band ($222.00) but below the 2× upper band ($229.00), which implies the move extended beyond typical short‑term volatility but not yet at extreme two‑sigma levels.
Volume of 1.66 million compares below the 10‑, 50‑ and 200‑day averages, suggesting the recent advance shows lighter participation and therefore higher sensitivity to shifts in momentum or news flow.
Fundamental Analysis
Revenue totaled $2,053,000,000 with gross profit $619,000,000 and operating income $514,000,000. EBIT reached $507,000,000 and net income $407,000,000; EPS actual came in at $0.95 versus an estimate of $0.91, an EPS surprise of about 4.40%.
EBIT margin 24.70% registers above the industry peer mean of 11.75% and well above the industry peer median of 11.68%, supporting the valuation premium by demonstrating superior operating profitability relative to peers.
Operating margin 25.04% and return on equity 8.16% exceed the industry peer mean for operating margin and the industry peer mean ROE of 5.04%, reinforcing margin strength and capital returns on current capital base.
Revenue growth shows strong year‑over‑year expansion: YoY revenue growth 86.19% and quarter‑over‑quarter growth 111.94% reflect rapid top‑line acceleration in the most recent periods.
Cash flow metrics present mixed signals. Free cash flow $344,000,000 and a free cash flow yield of 0.49% sit above the industry peer mean free cash flow yield of 0.37%; operating cash flow $446,000,000 and cash conversion ratio near 0.98 indicate healthy conversion of earnings into cash.
Leverage remains manageable. Total debt $3,258,000,000 with net debt $2,713,000,000 produces a debt/EBITDA of 5.66 and an interest coverage ratio of 13.34, the latter well above the industry peer mean of 5.19 and indicating ample coverage of interest expense despite elevated gross leverage.
Market multiples carry a substantial premium. Trailing P/E near 188.38 and P/B around 14.06 sit above industry peer means and highs; forward PE and PEG metrics also run materially higher than the industry peer mean and median. WMDST values the stock as over‑valued given these stretched multiples relative to cash‑flow yields, even after accounting for superior margins and robust recent revenue growth.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-10-30 |
| NEXT REPORT DATE: | 2026-01-29 |
| CASH FLOW | Begin Period Cash Flow | $ 537.0 M |
| Operating Cash Flow | $ 446.0 M | |
| Capital Expenditures | $ -102.00 M | |
| Change In Working Capital | $ -65.00 M | |
| Dividends Paid | $ -41.00 M | |
| Cash Flow Delta | $ 9.0 M | |
| End Period Cash Flow | $ 546.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.1 B | |
| Forward Revenue | $ 403.4 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.4 B | |
| Depreciation | $ 69.0 M | |
| Depreciation and Amortization | $ 69.0 M | |
| Research and Development | $ 9.0 M | |
| Total Operating Expenses | $ 1.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 619.0 M | |
| EBITDA | $ 576.0 M | |
| EBIT | $ 507.0 M | |
| Operating Income | $ 514.0 M | |
| Interest Income | $ 4.0 M | |
| Interest Expense | $ 38.0 M | |
| Net Interest Income | $ -34.00 M | |
| Income Before Tax | $ 469.0 M | |
| Tax Provision | $ 62.0 M | |
| Tax Rate | 13.22 % | |
| Net Income | $ 407.0 M | |
| Net Income From Continuing Operations | $ 407.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.91 | |
| EPS Actual | $ 0.95 | |
| EPS Difference | $ 0.04 | |
| EPS Surprise | 4.396 % | |
| Forward EPS | $ 0.79 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 11.0 B | |
| Intangible Assets | $ 4.5 B | |
| Net Tangible Assets | $ 510.0 M | |
| Total Current Assets | $ 3.7 B | |
| Cash and Short-Term Investments | $ 545.0 M | |
| Cash | $ 545.0 M | |
| Net Receivables | $ 888.0 M | |
| Inventory | $ 2.0 B | |
| Long-Term Investments | $ 263.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.0 B | |
| Short-Term Debt | $ 5.0 M | |
| Total Current Liabilities | $ 1.6 B | |
| Net Debt | $ 2.7 B | |
| Total Debt | $ 3.3 B | |
| Total Liabilities | $ 6.0 B | |
| EQUITY | ||
| Total Equity | $ 5.0 B | |
| Retained Earnings | $ 3.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 12.35 | |
| Shares Outstanding | 403.674 M | |
| Revenue Per-Share | $ 5.09 | |
| VALUATION | Market Capitalization | $ 70.1 B |
| Enterprise Value | $ 72.8 B | |
| Enterprise Multiple | 126.444 | |
| Enterprise Multiple QoQ | 29.139 % | |
| Enterprise Multiple YoY | 79.442 % | |
| Enterprise Multiple IPRWA | high: 323.415 HWM: 126.444 mean: 112.509 median: 66.53 low: -67.542 |
|
| EV/R | 35.476 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.215 | |
| Asset To Liability | 1.84 | |
| Debt To Capital | 0.395 | |
| Debt To Assets | 0.295 | |
| Debt To Assets QoQ | -8.78 % | |
| Debt To Assets YoY | 302.772 % | |
| Debt To Assets IPRWA | high: 0.871 mean: 0.301 HWM: 0.295 median: 0.293 low: 0.0 |
|
| Debt To Equity | 0.653 | |
| Debt To Equity QoQ | -11.149 % | |
| Debt To Equity YoY | 252.716 % | |
| Debt To Equity IPRWA | high: 1.727 median: 0.697 HWM: 0.653 mean: 0.626 low: -0.606 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 14.06 | |
| Price To Book QoQ | 29.839 % | |
| Price To Book YoY | 86.556 % | |
| Price To Book IPRWA | HWM: 14.06 high: 12.957 mean: 5.41 median: 3.467 low: -3.173 |
|
| Price To Earnings (P/E) | 188.375 | |
| Price To Earnings QoQ | 27.735 % | |
| Price To Earnings YoY | 61.782 % | |
| Price To Earnings IPRWA | high: 273.833 HWM: 188.375 median: 82.296 mean: 56.585 low: -168.63 |
|
| PE/G Ratio | 32.4 | |
| Price To Sales (P/S) | 34.154 | |
| Price To Sales QoQ | 29.301 % | |
| Price To Sales YoY | 101.79 % | |
| Price To Sales IPRWA | high: 84.443 HWM: 34.154 mean: 12.673 median: 9.287 low: 1.02 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 198.933 | |
| Forward PE/G | 34.216 | |
| Forward P/S | 173.808 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 0.794 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.188 | |
| Asset Turnover Ratio QoQ | 3.163 % | |
| Asset Turnover Ratio YoY | 5.553 % | |
| Asset Turnover Ratio IPRWA | high: 0.392 HWM: 0.188 mean: 0.167 median: 0.146 low: 0.0 |
|
| Receivables Turnover | 2.312 | |
| Receivables Turnover Ratio QoQ | -6.129 % | |
| Receivables Turnover Ratio YoY | -5.678 % | |
| Receivables Turnover Ratio IPRWA | high: 8.068 mean: 3.619 median: 2.764 HWM: 2.312 low: 0.002 |
|
| Inventory Turnover | 0.742 | |
| Inventory Turnover Ratio QoQ | 7.597 % | |
| Inventory Turnover Ratio YoY | 4.648 % | |
| Inventory Turnover Ratio IPRWA | high: 5.2 mean: 1.579 median: 1.0 HWM: 0.742 low: 0.051 |
|
| Days Sales Outstanding (DSO) | 39.469 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 101.477 | |
| Cash Conversion Cycle Days QoQ | 0.604 % | |
| Cash Conversion Cycle Days YoY | 4.387 % | |
| Cash Conversion Cycle Days IPRWA | high: 425.979 mean: 132.948 HWM: 101.477 median: 73.581 low: -296.124 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.98 | |
| CapEx To Revenue | -0.05 | |
| CapEx To Depreciation | -1.478 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 8.3 B | |
| Net Invested Capital | $ 8.2 B | |
| Invested Capital | $ 8.2 B | |
| Net Tangible Assets | $ 510.0 M | |
| Net Working Capital | $ 2.1 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.341 | |
| Current Ratio | 2.309 | |
| Current Ratio QoQ | 0.561 % | |
| Current Ratio YoY | 51.097 % | |
| Current Ratio IPRWA | high: 8.966 HWM: 2.309 mean: 1.507 median: 1.231 low: 0.225 |
|
| Quick Ratio | 1.081 | |
| Quick Ratio QoQ | 1.318 % | |
| Quick Ratio YoY | 45.277 % | |
| Quick Ratio IPRWA | high: 4.407 HWM: 1.081 mean: 0.992 median: 0.833 low: 0.28 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 5.656 | |
| Cost Of Debt | 0.978 % | |
| Interest Coverage Ratio | 13.342 | |
| Interest Coverage Ratio QoQ | 7.287 % | |
| Interest Coverage Ratio YoY | 70.695 % | |
| Interest Coverage Ratio IPRWA | high: 34.5 HWM: 13.342 median: 5.25 mean: 5.194 low: -78.651 |
|
| Operating Cash Flow Ratio | 0.282 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 67.783 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 9.927 | |
| Dividend Payout Ratio | 0.101 | |
| Dividend Rate | $ 0.10 | |
| Dividend Yield | 0.001 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.544 % | |
| Revenue Growth | 5.716 % | |
| Revenue Growth QoQ | 111.939 % | |
| Revenue Growth YoY | 86.189 % | |
| Revenue Growth IPRWA | high: 47.672 % mean: 7.501 % median: 6.279 % HWM: 5.716 % low: -58.801 % |
|
| Earnings Growth | 5.814 % | |
| Earnings Growth QoQ | -64.147 % | |
| Earnings Growth YoY | -66.86 % | |
| Earnings Growth IPRWA | high: 153.061 % mean: 38.692 % median: 6.122 % HWM: 5.814 % low: -91.045 % |
|
| MARGINS | ||
| Gross Margin | 30.151 % | |
| Gross Margin QoQ | -10.195 % | |
| Gross Margin YoY | -4.413 % | |
| Gross Margin IPRWA | high: 98.953 % HWM: 30.151 % mean: 24.156 % median: 20.277 % low: -30.868 % |
|
| EBIT Margin | 24.696 % | |
| EBIT Margin QoQ | -1.113 % | |
| EBIT Margin YoY | 21.225 % | |
| EBIT Margin IPRWA | high: 46.133 % HWM: 24.696 % mean: 11.752 % median: 11.677 % low: -171.354 % |
|
| Return On Sales (ROS) | 25.037 % | |
| Return On Sales QoQ | 0.252 % | |
| Return On Sales YoY | 22.899 % | |
| Return On Sales IPRWA | high: 46.714 % HWM: 25.037 % mean: 10.797 % median: 9.944 % low: -147.434 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 344.0 M | |
| Free Cash Flow Yield | 0.491 % | |
| Free Cash Flow Yield QoQ | 88.123 % | |
| Free Cash Flow Yield YoY | -54.326 % | |
| Free Cash Flow Yield IPRWA | high: 7.303 % HWM: 0.491 % mean: 0.368 % median: 0.126 % low: -11.984 % |
|
| Free Cash Growth | 156.716 % | |
| Free Cash Growth QoQ | -342.782 % | |
| Free Cash Growth YoY | -39.725 % | |
| Free Cash Growth IPRWA | high: 522.826 % HWM: 156.716 % mean: -79.063 % median: -91.266 % low: -646.535 % |
|
| Free Cash To Net Income | 0.845 | |
| Cash Flow Margin | 21.968 % | |
| Cash Flow To Earnings | 1.108 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.731 % | |
| Return On Assets QoQ | 15.475 % | |
| Return On Assets YoY | 47.88 % | |
| Return On Assets IPRWA | high: 6.423 % HWM: 3.731 % median: 1.072 % mean: 0.928 % low: -22.89 % |
|
| Return On Capital Employed (ROCE) | 5.367 % | |
| Return On Equity (ROE) | 0.082 | |
| Return On Equity QoQ | 12.38 % | |
| Return On Equity YoY | 29.54 % | |
| Return On Equity IPRWA | high: 0.185 HWM: 0.082 mean: 0.05 median: 0.043 low: -0.361 |
|
| DuPont ROE | 8.371 % | |
| Return On Invested Capital (ROIC) | 5.336 % | |
| Return On Invested Capital QoQ | 14.975 % | |
| Return On Invested Capital YoY | -99.475 % | |
| Return On Invested Capital IPRWA | high: 10.128 % HWM: 5.336 % median: 2.101 % mean: 2.063 % low: -18.67 % |
|