Latest revenue
$2.31B
as of 2026-03-31
Latest net income
$580.0M
as of 2026-03-31
Net margin
25.1%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $102.65B
- Enterprise value
- $105.18B
- P/E (trailing)
- 68.1×
- Forward P/E
- —
- P/B
- 19.96×
- Dividend yield
- 0.2%
- 52-wk high
- $280.74
- 52-wk low
- $165.51
- Beta
- —
- Shares out
- 400.1M
5-year trend
What this company does
Howmet Aerospace makes engineered metal components for jet engines, airframes, fasteners, and industrial gas turbines, including titanium structures and nickel superalloy castings. Roughly 69% of revenue comes from selling these parts to commercial and defense aerospace customers, with Boeing and Airbus production rates driving demand. Q3 2025 sales rose 14% to $2.09 billion and operating income jumped 29%, as record aircraft backlogs and the Boeing 737 MAX rate increase to 42 per month fuel growth despite tariff cost pressures.
Generated from HWM's filing dated 2026-02-12
Key risks
- Customer concentration: ~69% of YTD revenue from commercial/defense aerospace; Boeing/Airbus build rates directly drive results, with 737 MAX at 42/month.
- Tariff exposure: executive orders and retaliatory measures expected to raise costs and disrupt supply chains; pass-through to customers may lag, pressuring margins.
- Leverage and capital return pace: $3.19B long-term debt against $659M cash, while spending $500M on buybacks and $131M dividends YTD.
Generated from HWM's filing dated 2026-02-12
Profitability
Operating margin
24.8%
12.8%Net margin
18.3%
17.6%Return on equity
28.2%
11.1%Return on assets
13.5%
22.9%Leverage
Debt / equity
1.09×
16.9%Long-term debt / equity
0.53×
26.5%Debt / assets
52.1%
8.1%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $2.31B | +19.1% | $580.0M | +68.6% | 25.1% |
Q4 2025 2025-12-31 | $2.17B | +14.6% | $372.0M | +18.5% | 17.2% |
Q3 2025 2025-09-30 | $2.09B | +13.8% | $385.0M | +16.0% | 18.4% |
Q2 2025 2025-06-30 | $2.05B | +9.2% | $407.0M | +53.0% | 19.8% |
Q1 2025 2025-03-31 | $1.94B | +6.5% | $344.0M | +41.6% | 17.7% |
Q4 2024 2024-12-31 | $1.89B | — | $314.0M | — | 16.6% |
Q3 2024 2024-09-30 | $1.83B | +10.7% | $332.0M | +76.6% | 18.1% |
Q2 2024 2024-06-30 | $1.88B | +14.1% | $266.0M | +37.8% | 14.1% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Rolling Drawing & Extruding of Nonferrous Metals · SIC 3350
Your notes
Keep private notes on HWM — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$0
Insider selling
$25.3M
Net activity
−$25.3M
Distinct insiders
3
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns HWM
Institutional value
$26.33B
Total shares held
118.5M
Distinct holders
744
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 26.1M | $6.01B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 18.5M | $4.27B | — | New |
| 3 | Invesco Ltd. | 7.4M | $1.71B | — | New |
| 4 | Nuveen, LLC | 5.1M | $1.17B | — | New |
| 5 | Bank of New York Mellon Corp | 4.0M | $923.1M | — | New |
| 6 | VANGUARD FIDUCIARY TRUST CO | 2.3M | $533.1M | — | New |
| 7 | WESTFIELD CAPITAL MANAGEMENT CO LP | 2.3M | $527.7M | — | New |
| 8 | Legal & General Group Plc | 2.2M | $514.2M | — | New |
| 9 | TD ASSET MANAGEMENT INC | 2.1M | $492.8M | — | New |
| 10 | FEDERATED HERMES, INC. | 1.9M | $433.2M | — | New |
| 11 | UBS Group AG | 1.9M | $427.6M | — | New |
| 12 | CIBC Bancorp USA Inc. | 1.8M | $425.1M | — | New |
| 13 | DEUTSCHE BANK AG\ | 1.6M | $361.0M | — | New |
| 14 | DIMENSIONAL FUND ADVISORS LP | 1.3M | $302.1M | — | New |
| 15 | Voya Investment Management LLC | 1.3M | $299.7M | — | New |
| 16 | JANE STREET GROUP, LLC | 1.3M | $288.7M | — | New |
| 17 | Boston Partners | 1.3M | $288.2M | — | New |
| 18 | Swiss National Bank | 1.1M | $258.3M | — | New |
| 19 | AustralianSuper Pty Ltd | 1.1M | $254.1M | — | New |
| 20 | National Pension Service | 1.1M | $247.0M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Operating margin jumped to 25.9% in Q3; how much is sustainable pricing versus 737 MAX/Boeing build-rate normalization risk into 2026?
- 2
Tax provision rose to $274M from $150M YTD—what's driving the higher rate and is this the new run-rate?
- 3
Inventory grew $135M and receivables $195M while capex nearly doubled to $329M—why is working capital deteriorating amid record margins?
Refreshed when HWM files a new report · last from 2026-02-12