15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 9.4% per year over the past 5 years.
Net income has grown faster than revenue (42.0% vs 9.4% per year).
Operating margin has expanded, at 24.8% in the latest year.
Financial health
Total debt ($3.0B) exceeds cash ($742M); net debt is $2.3B.
Total debt has grown slower than revenue (-11.0% vs 9.4% per year).
Operating income covered interest expense 12× in the latest year, up from 1.6× 5 years ago.
Total debt is 1.3× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$8.3B
$1.5B
0.0%
24.8%
$1.4B
$3.0B
$742M
2024
$7.4B
$1.2B
0.0%
22.0%
$977M
$3.3B
$564M
2023
$6.6B
$765M
0.0%
18.1%
$682M
$3.7B
$610M
2022
$5.7B
$469M
0.0%
16.2%
$540M
$4.2B
$791M
2021
$5.0B
$258M
0.0%
15.0%
$250M
$4.2B
$720M
2020
$5.3B
$261M
0.0%
11.9%
-$258M
$5.5B
$1.6B
2019
$7.1B
$470M
0.0%
8.2%
-$180M
$7.0B
$1.6B
2018
$6.8B
$642M
0.0%
11.4%
-$551M
$6.7B
$2.3B
2017
$13.0B
-$74M
0.0%
3.7%
-$635M
$6.8B
$2.1B
2016
$12.4B
-$941M
0.0%
7.7%
-$1.0B
$8.1B
$1.9B
2015
—
-$322M
—
—
$402M
$8.8B
$1.9B
2014
—
$268M
—
—
$455M
$8.9B
$1.9B
2013
—
-$2.3B
—
—
$385M
$8.3B
$1.4B
2012
—
$191M
—
—
$236M
$8.8B
$1.9B
2011
—
$611M
—
—
$906M
$9.1B
$1.9B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$2.3B
$580M
0.0%
32.6%
$359M
$4.7B
$2.4B
Dec '25
$2.2B
$372M
0.0%
22.6%
$530M
$3.0B
$742M
Sep '25
$2.1B
$385M
0.0%
25.9%
$423M
$3.2B
$659M
Jun '25
$2.1B
$407M
0.0%
25.4%
$344M
$3.3B
$545M
Mar '25
$1.9B
$344M
0.0%
25.4%
$134M
$3.3B
$536M
Dec '24
$1.9B
$314M
0.0%
23.5%
$378M
$3.3B
$564M
Sep '24
$1.8B
$332M
0.0%
22.9%
$162M
$3.4B
$475M
Jun '24
$1.9B
$266M
0.0%
21.2%
$342M
$3.7B
$752M
Mar '24
$1.8B
$243M
0.0%
20.2%
$95M
$3.7B
$533M
Dec '23
$1.7B
$236M
0.0%
18.8%
$403M
$3.7B
$610M
Sep '23
$1.7B
$188M
0.0%
18.5%
$132M
$3.8B
$424M
Jun '23
$1.6B
$193M
0.0%
17.3%
$188M
$4.0B
$535M
Mar '23
$1.6B
$148M
0.0%
17.8%
-$41M
$4.0B
$537M
Dec '22
$1.5B
$111M
0.0%
14.5%
$410M
$4.2B
$791M
Sep '22
$1.4B
$80M
0.0%
15.9%
$23M
$4.2B
$453M
Jun '22
$1.4B
$147M
0.0%
17.3%
$114M
$4.2B
$537M
Mar '22
$1.3B
$131M
0.0%
17.4%
-$7M
$4.2B
$520M
Dec '21
$1.3B
$77M
0.0%
11.4%
$242M
$4.2B
$720M
Sep '21
$1.3B
$27M
0.0%
16.0%
$20M
$4.3B
$724M
Jun '21
$1.2B
$74M
0.0%
17.3%
$49M
$4.3B
$715M
Valuation over time
How the market has priced HWM against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 36.1× (Mar '23) to 72.5× (Jun '26).
The price-to-sales ratio has risen from 3.0× (Mar '23) to 13.2× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is HWM growing its revenue and profit?
Over the past 5 years, Howmet Aerospace's revenue has grown 9.4% per year, and net income grown 42.0% per year. These are computed facts, not advice.
How much debt does HWM have?
As of FY2025, Howmet Aerospace reported $3.0B of total debt against $742M of cash; operating income covered interest expense 12×.
What is HWM's profit margin?
In FY2025, gross margin was —, operating margin 24.8%, and net margin 18.3%.
What is HWM's P/E ratio?
As of Jun '26, Howmet Aerospace traded at a price-to-earnings ratio of about 72.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.