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Astronics

Nasdaq:ATRO
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ATRO
Nasdaq
$281M
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defence, and electronic industries in the United States, North America, Asia, Europe, South America, and internationally. The last earnings update was 30 days ago. More info.


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  • Astronics has significant price volatility in the past 3 months.
ATRO Share Price and Events
7 Day Returns
10.9%
NasdaqGS:ATRO
11.5%
US Aerospace & Defense
5.3%
US Market
1 Year Returns
-72.3%
NasdaqGS:ATRO
-10%
US Aerospace & Defense
-10.7%
US Market
ATRO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Astronics (ATRO) 10.9% -54.9% -67.4% -72.3% -66.2% -81.6%
US Aerospace & Defense 11.5% -17.4% -23.9% -10% 4.5% 27.3%
US Market 5.3% -13.6% -19.8% -10.7% 8% 20.4%
1 Year Return vs Industry and Market
  • ATRO underperformed the Aerospace & Defense industry which returned -10% over the past year.
  • ATRO underperformed the Market in United States of America which returned -10.7% over the past year.
Price Volatility
ATRO
Industry
5yr Volatility vs Market

Value

 Is Astronics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Astronics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Astronics.

NasdaqGS:ATRO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:ATRO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.852 (1 + (1- 21%) (77.65%))
1.251
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.25
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.251 * 5.44%)
8.54%

Discounted Cash Flow Calculation for NasdaqGS:ATRO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Astronics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGS:ATRO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.54%)
2020 1.53 Analyst x2 1.41
2021 31.91 Analyst x2 27.09
2022 68.00 Analyst x1 53.17
2023 90.47 Est @ 33.04% 65.17
2024 111.86 Est @ 23.65% 74.24
2025 130.96 Est @ 17.08% 80.08
2026 147.30 Est @ 12.48% 82.98
2027 160.93 Est @ 9.25% 83.52
2028 172.20 Est @ 7% 82.33
2029 181.54 Est @ 5.42% 79.97
Present value of next 10 years cash flows $629.00
NasdaqGS:ATRO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $181.54 × (1 + 1.74%) ÷ (8.54% – 1.74%)
$2,714.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,714.54 ÷ (1 + 8.54%)10
$1,195.75
NasdaqGS:ATRO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $629.00 + $1,195.75
$1,824.75
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,824.75 / 30.72
$59.4
NasdaqGS:ATRO Discount to Share Price
Calculation Result
Value per share (USD) From above. $59.40
Current discount Discount to share price of $9.13
= -1 x ($9.13 - $59.40) / $59.40
84.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Astronics is available for.
Intrinsic value
>50%
Share price is $9.13 vs Future cash flow value of $59.4
Current Discount Checks
For Astronics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Astronics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Astronics's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Astronics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Astronics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:ATRO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.62
NasdaqGS:ATRO Share Price ** NasdaqGS (2020-03-31) in USD $9.13
United States of America Aerospace & Defense Industry PE Ratio Median Figure of 37 Publicly-Listed Aerospace & Defense Companies 15.2x
United States of America Market PE Ratio Median Figure of 2,939 Publicly-Listed Companies 13.13x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Astronics.

NasdaqGS:ATRO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:ATRO Share Price ÷ EPS (both in USD)

= 9.13 ÷ 1.62

5.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Astronics is good value based on earnings compared to the US Aerospace & Defense industry average.
  • Astronics is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Astronics's expected growth come at a high price?
Raw Data
NasdaqGS:ATRO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-31.5%per year
United States of America Aerospace & Defense Industry PEG Ratio Median Figure of 30 Publicly-Listed Aerospace & Defense Companies 1.73x
United States of America Market PEG Ratio Median Figure of 2,006 Publicly-Listed Companies 0.99x

*Line of best fit is calculated by linear regression .

NasdaqGS:ATRO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.62x ÷ -31.5%

-0.18x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Astronics earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Astronics's assets?
Raw Data
NasdaqGS:ATRO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $12.54
NasdaqGS:ATRO Share Price * NasdaqGS (2020-03-31) in USD $9.13
United States of America Aerospace & Defense Industry PB Ratio Median Figure of 51 Publicly-Listed Aerospace & Defense Companies 1.82x
United States of America Market PB Ratio Median Figure of 5,138 Publicly-Listed Companies 1.28x
NasdaqGS:ATRO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:ATRO Share Price ÷ Book Value per Share (both in USD)

= 9.13 ÷ 12.54

0.73x

* Primary Listing of Astronics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Astronics is good value based on assets compared to the US Aerospace & Defense industry average.
X
Value checks
We assess Astronics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Astronics has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Astronics expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-31.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Astronics expected to grow at an attractive rate?
  • Astronics's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Astronics's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Astronics's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:ATRO Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:ATRO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -31.5%
NasdaqGS:ATRO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts -3.5%
United States of America Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 11.1%
United States of America Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:ATRO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:ATRO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 833 83 58 1
2021-12-31 610 53 4 3
2020-12-31 562 25 -8 4
2020-04-01
NasdaqGS:ATRO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 773 43 52
2019-09-28 777 70 99
2019-06-29 813 56 114
2019-03-30 832 67 122
2018-12-31 803 55 47
2018-09-29 772 31 29
2018-06-30 709 41 18
2018-03-31 651 30 11
2017-12-31 624 38 20
2017-09-30 607 46 35
2017-07-01 613 30 41
2017-04-01 626 55 49

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Astronics's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Astronics's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:ATRO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Astronics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:ATRO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.80 1.80 1.80 1.00
2021-12-31 0.12 1.30 -1.15 3.00
2020-12-31 -0.25 0.68 -1.38 3.00
2020-04-01
NasdaqGS:ATRO Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.62
2019-09-28 3.04
2019-06-29 3.52
2019-03-30 3.75
2018-12-31 1.45
2018-09-29 0.89
2018-06-30 0.55
2018-03-31 0.35
2017-12-31 0.60
2017-09-30 1.06
2017-07-01 1.24
2017-04-01 1.45

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Astronics is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Astronics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Astronics has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Astronics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Astronics's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Astronics's year on year earnings growth rate has been positive over the past 5 years.
  • Astronics's 1-year earnings growth exceeds its 5-year average (11.1% vs 3.4%)
  • Astronics's earnings growth has exceeded the US Aerospace & Defense industry average in the past year (11.1% vs 3.8%).
Earnings and Revenue History
Astronics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Astronics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:ATRO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 772.70 52.02 121.38
2019-09-28 777.21 98.57 116.89
2019-06-29 812.86 114.36 114.88
2019-03-30 832.37 121.66 117.73
2018-12-31 803.26 46.80 116.03
2018-09-29 771.66 28.67 112.42
2018-06-30 708.62 17.73 106.94
2018-03-31 651.13 11.39 98.59
2017-12-31 624.46 19.68 88.78
2017-09-30 607.21 35.22 87.06
2017-07-01 612.68 41.23 85.69
2017-04-01 625.99 48.53 85.83
2016-12-31 633.12 48.42 86.29
2016-10-01 636.40 52.45 88.35
2016-07-02 681.44 65.07 87.58
2016-04-02 690.17 67.78 87.96
2015-12-31 692.28 66.97 90.89
2015-10-03 701.02 71.51 89.33
2015-07-04 680.32 63.89 92.77
2015-04-04 681.73 59.35 90.89
2014-12-31 661.04 56.17 84.65
2014-09-27 600.41 44.12 75.58
2014-06-28 510.65 34.20 60.99
2014-03-29 406.92 26.21 50.97
2013-12-31 339.94 27.27 45.59
2013-09-28 301.90 26.53 40.91
2013-06-29 281.12 24.31 38.54

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Astronics has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Astronics used its assets more efficiently than the US Aerospace & Defense industry average last year based on Return on Assets.
  • Astronics's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Astronics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Astronics has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Astronics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Astronics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Astronics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Astronics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Astronics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Astronics Company Filings, last reported 3 months ago.

NasdaqGS:ATRO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 388.86 188.22 31.91
2019-09-28 425.79 180.25 22.80
2019-06-29 474.97 122.28 17.11
2019-03-30 466.00 115.19 15.97
2018-12-31 386.63 227.34 16.62
2018-09-29 369.45 259.65 4.89
2018-06-30 351.29 265.35 10.61
2018-03-31 338.03 276.11 16.39
2017-12-31 329.93 271.77 17.91
2017-09-30 337.33 177.35 15.38
2017-07-01 347.72 162.97 8.27
2017-04-01 346.10 141.50 10.76
2016-12-31 337.45 148.12 17.90
2016-10-01 329.37 163.99 13.28
2016-07-02 318.44 166.59 20.41
2016-04-02 310.97 172.35 15.79
2015-12-31 300.23 169.79 18.56
2015-10-03 283.99 208.53 22.43
2015-07-04 256.15 231.17 23.77
2015-04-04 236.99 216.76 22.56
2014-12-31 228.18 183.01 21.20
2014-09-27 211.27 212.72 24.93
2014-06-28 194.72 245.70 20.83
2014-03-29 181.00 268.51 29.12
2013-12-31 171.51 200.43 54.64
2013-09-28 148.24 198.79 68.19
2013-06-29 139.66 25.63 16.54
  • Astronics's level of debt (48.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (80.3% vs 48.4% today).
  • Debt is well covered by operating cash flow (22.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.2x coverage).
X
Financial health checks
We assess Astronics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Astronics has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Astronics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Astronics dividends.
If you bought $2,000 of Astronics shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Astronics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Astronics's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:ATRO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1946 Stocks 2.9%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.9%
United States of America Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:ATRO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2020-04-01

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Astronics has not reported any payouts.
  • Unable to verify if Astronics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Astronics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Astronics has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Astronics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Astronics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Astronics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Astronics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Peter Gundermann
COMPENSATION $1,730,351
AGE 56
TENURE AS CEO 17.1 years
CEO Bio

Mr. Peter J. Gundermann has been the Chief Executive Officer and President of Astronics Corporation since March 18, 2003 and has been its Chairman since June 11, 2019. He served as President of Luminescent Systems Inc., since 1991. Mr. Gundermann joined Astronics in 1988. Mr. Gundermann joined Luminescent Systems Inc., in 1988. Mr. Gundermann’s in-depth understanding of the aerospace and defense industry and his significant high level management experience. He has been an Independent Director at Moog Inc. since 2009. He has been a Director of Astronics Corporation since 2001. He holds a B.A. in Applied Mathematics and Economics from Brown University and an MBA from Duke University.

CEO Compensation
  • Peter's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Peter's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Astronics management team in years:

10.3
Average Tenure
56
Average Age
  • The average tenure for the Astronics management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Peter Gundermann

TITLE
Chairman
COMPENSATION
$2M
AGE
56
TENURE
17.1 yrs

David Burney

TITLE
Executive VP
COMPENSATION
$783K
AGE
56
TENURE
17.1 yrs

James Kramer

TITLE
Executive Vice President
COMPENSATION
$676K
AGE
55
TENURE
10.3 yrs

Mark Peabody

TITLE
Former Executive VP & President of Astronics Advanced Electronic Systems
COMPENSATION
$907K
AGE
60
TENURE
10.3 yrs

Jim Mulato

TITLE
Executive Vice President
COMPENSATION
$807K
AGE
58
TENURE
1.3 yrs

Nancy Hedges

TITLE
Corporate Controller & Principal Accounting Officer
AGE
45

Michael Kuehn

TITLE
Executive Vice President
AGE
58
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Astronics board of directors in years:

3.5
Average Tenure
60
Average Age
  • The tenure for the Astronics board of directors is about average.
Board of Directors

Robert Brady

TITLE
Independent Director
COMPENSATION
$130K
AGE
78
TENURE
30.3 yrs

Peter Gundermann

TITLE
Chairman
COMPENSATION
$2M
AGE
56
TENURE
0.8 yrs

Raymond Boushie

TITLE
Lead Director
COMPENSATION
$130K
AGE
79
TENURE
3.8 yrs

Jeff Frisby

TITLE
Independent Director
COMPENSATION
$130K
AGE
63
TENURE
3.5 yrs

Warren Johnson

TITLE
Independent Director
COMPENSATION
$130K
AGE
60
TENURE
3.5 yrs

Neil Kim

TITLE
Independent Director
COMPENSATION
$130K
AGE
60
TENURE
3.5 yrs

Mark Moran

TITLE
Independent Director
AGE
63
TENURE
1.3 yrs

Tonit Calaway

TITLE
Director
AGE
51
TENURE
0.6 yrs

Robert Keane

TITLE
Director
AGE
56
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Astronics individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Mar 20 Buy James Mulato Individual 12. Mar 20 12. Mar 20 2,000 $13.20 $26,400
12. Mar 20 Buy Nancy Hedges Individual 12. Mar 20 12. Mar 20 725 $13.69 $9,928
02. Mar 20 Buy James Mulato Individual 02. Mar 20 02. Mar 20 600 $19.77 $11,862
16. Aug 19 Sell David Burney Individual 15. Aug 19 15. Aug 19 -4,000 $26.20 $-104,800
06. Aug 19 Buy Nancy Hedges Individual 06. Aug 19 06. Aug 19 100 $27.46 $2,746
X
Management checks
We assess Astronics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Astronics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What Does Astronics Corporation's (NASDAQ:ATRO) Share Price Indicate?

This is because Astronics’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … If you are no longer interested in Astronics, you can use our free platform to see my list of over 50 other stocks with a high growth potential.

Simply Wall St -

Don't Ignore The Fact That This Insider Just Sold Some Shares In Astronics Corporation (NASDAQ:ATRO)

See our latest analysis for Astronics The Last 12 Months Of Insider Transactions At Astronics In fact, the recent sale by David Burney was the biggest sale of Astronics shares made by an insider individual in the last twelve months, according to our records. … While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. … The insider sales have outweighed the insider buying, at Astronics, in the last three months.

Simply Wall St -

Here’s What Astronics Corporation’s (NASDAQ:ATRO) Return On Capital Can Tell Us

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Astronics: 0.12 = US$76m ÷ (US$781m - US$148m) (Based on the trailing twelve months to March 2019.) Therefore, Astronics has an ROCE of 12%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE. … The Bottom Line On Astronics's ROCE This is good to see, and with a sound ROCE, Astronics could be worth a closer look.

Simply Wall St -

Should You Be Impressed By Astronics Corporation's (NASDAQ:ATRO) ROE?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Astronics: 26% = US$122m ÷ US$466m (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … The combination of modest debt and a very impressive ROE does suggest that the business is high quality. … In my book the highest quality companies have high return on equity, despite low debt.

Simply Wall St -

Is Astronics Corporation's (NASDAQ:ATRO) CEO Paid At A Competitive Rate?

Peter Gundermann has been the CEO of Astronics Corporation (NASDAQ:ATRO) since 2003. … See our latest analysis for Astronics How Does Peter Gundermann's Compensation Compare With Similar Sized Companies? … At the time of writing our data says that Astronics Corporation has a market cap of US$1.3b, and is paying total annual CEO compensation of US$5.2m.

Simply Wall St -

What Percentage Of Astronics Corporation (NASDAQ:ATRO) Shares Do Insiders Own?

Check out our latest analysis for Astronics NasdaqGS:ATRO Ownership Summary, June 20th 2019 What Does The Institutional Ownership Tell Us About Astronics? … Insider Ownership Of Astronics The definition of an insider can differ slightly between different countries, but members of the board of directors always count. … Shareholders would probably be interested to learn that insiders own shares in Astronics Corporation.

Simply Wall St -

If You Had Bought Astronics (NASDAQ:ATRO) Stock Three Years Ago, You Could Pocket A 48% Gain Today

For example, the Astronics Corporation (NASDAQ:ATRO) share price is up 48% in the last three years, clearly besting than the market return of around 31% (not including dividends). … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During three years of share price growth, Astronics achieved compound earnings per share growth of 23% per year.

Simply Wall St -

Should You Be Concerned About Astronics Corporation's (NASDAQ:ATRO) Historical Volatility?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

An Intrinsic Calculation For Astronics Corporation (NASDAQ:ATRO) Suggests It's 23% Undervalued

Today we will run through one way of estimating the intrinsic value of Astronics Corporation (NASDAQ:ATRO). … by projecting its future cash flows and then discounting them to today's value. … We generally believe that a company's value is the present value of all of the cash it will generate in the future.

Simply Wall St -

How Financially Strong Is Astronics Corporation (NASDAQ:ATRO)?

Investors are always looking for growth in small-cap stocks like Astronics Corporation (NASDAQ:ATRO), with a market cap of US$1.1b. … Evaluating financial health as part of your investment thesis is. … Let's work through some financial health checks you may wish to consider if you're interested in this stock.

Simply Wall St -

Company Info

Description

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defence, and electronic industries in the United States, North America, Asia, Europe, South America, and internationally. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and motions systems, aircraft structures, avionics products, system certification, and other products. This segment serves airframe manufacturers (OEM) that build aircraft for the commercial, military, and general aviation markets; suppliers; and aircraft operators, such as airlines and branches of the U.S. Department of Defense. The Test Systems segment designs, develops, manufactures, and maintains automated test systems that support the aerospace, and communications and weapons test systems, as well as training and simulation devices for commercial and military applications. It serves OEMs and prime government contractors for electronics and military products. The company also provides cabin management, connectivity equipment, and in-flight entertainment systems for a range of aircraft; and wireless communication testing primarily for the civil land mobile radio market, as well as design consultancy services for the aerospace industry. Astronics Corporation was founded in 1968 and is headquartered in East Aurora, New York.

Details
Name: Astronics Corporation
ATRO
Exchange: NasdaqGS
Founded: 1968
$281,414,837
30,720,701
Website: http://www.astronics.com
Address: Astronics Corporation
130 Commerce Way,
East Aurora,
New York, 14052,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS ATRO Common Stock Nasdaq Global Select US USD 14. Dec 1972
DB AC1 Common Stock Deutsche Boerse AG DE EUR 14. Dec 1972
BRSE AC1 Common Stock Berne Stock Exchange CH CHF 14. Dec 1972
OTCPK ATRO.B Convertible Class B Common Stock Pink Sheets LLC US USD 28. Dec 1990
Number of employees
Current staff
Staff numbers
2,800
Astronics employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 03:19
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/03/02
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.