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Industrials · S&P 500 · data as of 2026-10-05

HWM stock analysis: Howmet Aerospace

Howmet Aerospace (HWM) is an S&P 500 company in Aerospace & Defense. It grades strongest on growth and weakest on value.

The model's view of HWM · subscribers

Where HWM ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with HWM · updated 2026-10-05 · from prices and SEC filings

HWM price performance

HWM against the S&P 500, one year
+0%+20%+40%HWM +20%S&P 500 +18%2025-09-292026-10-05
Year to date+12.1%S&P 500 +14.5% · behind by 2.4 pts
1 year+21.6%S&P 500 +17.0% · ahead by 4.5 pts
3 years+407.2%S&P 500 +89.3% · ahead by 318.0 pts
5 years+625.3%S&P 500 +91.3% · ahead by 534.0 pts

Total returns with dividends reinvested.

HWM factor grades

Each grade compares HWM with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

DValueP/E 49.5x (industry 32.8x)FCF yield 2.0% (industry 3.9%)
A-GrowthRevenue growth +18% (industry +13%)EPS growth +36% (industry +18%)
B+ProfitabilityOperating margin 27.4% (industry 10.5%)ROIC 21.2% (industry 13.9%)
CMomentum12-month change +22%From 52-wk high -22%

HWM in plain numbers

HWM key statistics

SectorIndustrials
IndustryAerospace & Defense
IndexS&P 500
Market value$91.6B
Revenue growth (y/y)+18%
Free-cash-flow yield2.0%
Dividend yield0.2%
Next earnings (expected)2026-10-29
Valuation measures
Market value$91.6B
Enterprise value$95.5B
P/E (trailing)49.5x
Forward P/E (Torvanta estimate)43.6x
PEG (Torvanta estimate)3.27
Price / sales10.0x
Price / book16.0x
EV / revenue10.5x
EV / EBITDA34.1x
Financial highlights
Revenue, last 12 months$9.1B
Net income, last 12 months$1.9B
EPS, last 12 months (GAAP)$4.64
Operating margin27.4%
Net margin20.5%
Return on equity34.7%
Return on invested capital21.2%
Cash$563.0M
Total debt$4.5B
Debt / equity0.79x
Free cash flow, last 12 months$1.8B
Current ratio1.82x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

HWM earnings trends

Revenue vs earnings
$0$636.8M$1.3B$1.9B$2.5BSep 2024 Revenue: $1.8BDec 2024 Revenue: $1.9BMar 2025 Revenue: $1.9BJun 2025 Revenue: $2.1BSep 2025 Revenue: $2.1BDec 2025 Revenue: $2.2BMar 2026 Revenue: $2.3BJun 2026 Revenue: $2.5BSep 2024 Net income: $332.0MDec 2024 Net income: $314.0MMar 2025 Net income: $344.0MJun 2025 Net income: $407.0MSep 2025 Net income: $385.0MDec 2025 Net income: $372.0MMar 2026 Net income: $580.0MJun 2026 Net income: $534.0MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 18.1%Net margin: 16.6%Net margin: 17.7%Net margin: 19.8%Net margin: 18.4%Net margin: 17.2%Net margin: 25.1%Net margin: 21.0%0%13%25%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.4$0.7$1.1$1.4Sep 2024 EPS (GAAP, diluted): $0.8Dec 2024 EPS (GAAP, diluted): $0.8Mar 2025 EPS (GAAP, diluted): $0.8Jun 2025 EPS (GAAP, diluted): $1.0Sep 2025 EPS (GAAP, diluted): $1.0Dec 2025 EPS (GAAP, diluted): $0.9Mar 2026 EPS (GAAP, diluted): $1.4Jun 2026 EPS (GAAP, diluted): $1.3Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +17% · Dec 2025 +19% · Mar 2026 +71% · Jun 2026 +33%

From the company's 10-Q and 10-K filings with the SEC.

Howmet Aerospace financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$5.0B$5.7B$6.6B$7.4B$8.3B
Net income$258.0M$469.0M$765.0M$1.2B$1.5B
EPS (GAAP)$0.59$1.12$1.82$2.82$3.71
Free cash flow$250.0M$540.0M$682.0M$1.0B$1.4B

HWM earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-08-06$1.33+33%+24%-3.7%
2026-05-07$1.44+71%+19%+5.0%
2026-02-12$0.92+19%+15%+9.9%
2025-10-30$0.95+17%+14%+2.0%
2025-07-31$1.00+54%+9%-2.1%
2025-05-01$0.84+42%+6%+9.0%

About Howmet Aerospace

HeadquartersPittsburgh, PA
Industry (SEC code)Rolling Drawing & Extruding Of Nonferrous Metals
Fiscal year endsDecember 31
Incorporated inDE
Listed onNYSE
FormerlyArconic Inc., ALCOA INC., ALCOA INC, ALUMINUM CO OF AMERICA

From the company's SEC registration record.

Companies similar to HWM

CompanyMarket valueP/ERevenue growthOperating margin12-month change
HWM Howmet Aerospace$91.6B49.5x+18%27.4%+22%
GD General Dynamics$89.7Bn/a+9%10.2%-2%compare
LMT Lockheed Martin$116.9B18.7x+7%11.9%+3%compare
NOC Northrop Grumman$67.6B15.1x+6%10.7%-21%compare
TDG TransDigm$60.4B33.1x+17%46.0%-15%
BA Boeing$152.3B68.6x+25%4.9%-11%
LHX L3Harris$44.1B23.9x+5%10.3%-19%

All Industrials stock ratings

Frequently asked questions

Is HWM stock a buy?

Torvanta does not tell individuals what to buy. Its grades for HWM are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is HWM's P/E ratio?

HWM trades at about 49.5 times its last 12 months of GAAP earnings reported to the SEC, and about 43.6 times Torvanta's own estimate of the next 12 months.

When does HWM report earnings next?

Based on its filing history, Torvanta expects Howmet Aerospace to report around 2026-10-29.

Does HWM pay a dividend?

Yes. Its dividend yield is about 0.2%, and it has raised its dividend 5 years in a row.

How has HWM performed against the S&P 500?

Over the past year HWM returned +21.6%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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