ATI Inc. (ATI)

NYSE Industrials Aerospace & Defense S&P MidCap 400

$175.79

+7.45 (+4.43%)

Close of Nov 06, 2026 · end-of-day data

Source: ATI Inc.'s 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2018	FY2019	FY2020	FY2021	FY2022	FY2022	FY2023	FY2023	FY2024	FY2025
Revenue	$4.05B	$4.12B	$2.98B	$2.80B	$2.80B	$3.84B	$3.84B	$4.17B	$4.36B	$4.59B
Cost of revenue	$3.42B	$3.48B	$2.69B	$2.47B	$2.47B	$3.12B	$3.12B	$3.37B	$3.46B	$3.58B
Gross profit	$630.30M	$638.00M	$292.80M	$333.20M	$333.20M	$714.20M	$714.20M	$802.60M	$898.20M	$1.01B
Research & development	$22.70M	$17.80M	$14.10M	$16.50M	$16.50M	$16.30M	$16.30M	$20.70M	$19.60M	$21.30M
Selling, general & admin	$268.20M	$267.20M	$201.00M	$226.90M	$226.90M	$297.50M	$297.50M	$328.10M	$342.30M	$365.10M
Operating income	$362.10M	$366.30M	-$1.30B	$117.60M	$117.60M	$287.30M	$316.10M	$466.40M	$608.90M	$640.90M
Interest expense	$102.10M	$104.90M	$96.10M	$97.60M	$97.60M	$92.10M	$87.40M	$92.80M	$108.20M	$110.70M
Pre-tax income	$247.70M	$236.50M	-$1.48B	$10.60M	$233.40M	$162.00M	$354.60M	$295.20M	$486.10M	$522.30M
Income tax	$11.00M	-$28.50M	$77.70M	$26.80M	$26.80M	$15.50M	$15.50M	-$128.20M	$103.40M	$103.70M
Net income	$222.40M	$252.50M	-$1.57B	-$38.20M	$184.60M	$130.90M	$323.50M	$410.80M	$367.80M	$404.30M
EBITDA	$518.50M	$517.40M	-$1.16B	$261.50M	$261.50M	$430.20M	$459.00M	$612.50M	$760.40M	$809.00M
EPS (basic)	$1.78	$2.01	$-12.43	$-0.30	$1.45	$1.03	$2.54	$3.21	$2.82	$2.92
EPS (diluted)	$1.61	$1.81	$-12.43	$-0.30	$1.32	$0.96	$2.23	$2.81	$2.55	$2.85
Diluted shares	145.90M	146.50M	126.50M	127.10M	152.70M	151.20M	151.20M	150.00M	146.60M	141.80M
Gross margin	15.6%	15.5%	9.8%	11.9%	11.9%	18.6%	18.6%	19.2%	20.6%	22.0%
Operating margin	8.9%	8.9%	-43.7%	4.2%	4.2%	7.5%	8.2%	11.2%	14.0%	14.0%
Net margin	5.5%	6.1%	-52.7%	-1.4%	6.6%	3.4%	8.4%	9.8%	8.4%	8.8%

Balance sheet

fiscal years · USD

Fiscal year	FY2018	FY2019	FY2020	FY2021	FY2022	FY2022	FY2023	FY2023	FY2024	FY2025
Cash & equivalents	$382.00M	$490.80M	$645.90M	$687.70M	$687.70M	$584.00M	$584.00M	$743.90M	$721.20M	$416.70M
Receivables	$527.80M	$554.10M	$345.80M	$470.00M	$470.00M	$579.20M	$579.20M	$625.00M	$709.20M	$686.10M
Inventory	$1.21B	$1.16B	$997.10M	$1.05B	$1.05B	$1.20B	$1.20B	$1.25B	$1.35B	$1.40B
Total current assets	$2.25B	$2.30B	$2.07B	$2.31B	$2.31B	$2.48B	$2.48B	$2.74B	$2.94B	$2.68B
Goodwill	$534.70M	$525.80M	$240.70M	$227.90M	$227.90M	$227.20M	$227.20M	$227.20M	$227.20M	$225.20M
Total assets	$5.50B	$5.63B	$4.03B	$4.29B	$4.29B	$4.45B	$4.45B	$4.99B	$5.23B	$5.10B
Total current liabilities	$836.90M	$849.20M	$653.30M	$856.40M	$856.40M	$963.90M	$963.90M	$977.10M	$1.21B	$1.01B
Short-term debt	$6.60M	$11.50M	$17.80M	$131.30M	$131.30M	$41.70M	$41.70M	$31.90M	$180.40M	$31.10M
Long-term debt	$1.54B	$1.39B	$1.55B	$1.71B	$1.71B	$1.71B	$1.71B	$2.15B	$1.71B	$1.72B
Total debt	$1.54B	$1.40B	$1.57B	$1.84B	$1.84B	$1.75B	$1.75B	$2.18B	$1.90B	$1.75B
Total liabilities	$3.51B	$3.44B	$3.39B	$3.45B	$3.45B	$3.29B	$3.29B	$3.50B	$3.28B	$3.18B
Shareholders' equity	$1.89B	$2.09B	$521.10M	$685.60M	$832.70M	$1.05B	$1.05B	$1.37B	$1.85B	$1.80B

Cash flow

fiscal years · USD

Fiscal year	FY2018	FY2019	FY2020	FY2021	FY2022	FY2022	FY2023	FY2023	FY2024	FY2025
Operating cash flow	$392.80M	$230.10M	$166.90M	$16.10M	$16.10M	$224.90M	$224.90M	$85.90M	$407.20M	$614.30M
Capital expenditures	$139.20M	$168.20M	$136.50M	$152.60M	$152.60M	$130.90M	$130.90M	$200.70M	$239.10M	$280.60M
Free cash flow	$253.60M	$61.90M	$30.40M	-$136.50M	-$136.50M	$94.00M	$94.00M	-$114.80M	$168.10M	$333.70M
Investing cash flow	-$145.10M	$81.70M	-$128.70M	-$77.30M	-$77.30M	-$126.70M	-$126.70M	-$193.20M	-$159.60M	-$234.50M
Financing cash flow	-$7.30M	-$203.00M	$116.90M	$103.00M	$103.00M	-$201.90M	-$201.90M	$267.20M	-$260.40M	-$699.90M
Dividends paid	$0	$0	—	—	—	—	—	—	—	—
Share buybacks	—	—	$0	$0	$0	$139.90M	$139.90M	$85.20M	$260.00M	$470.00M
Stock-based compensation	—	—	$2.90M	$21.10M	$21.10M	$26.00M	$26.00M	$29.10M	$34.10M	$29.00M
Depreciation & amortization	$156.40M	$151.10M	$143.30M	$143.90M	$143.90M	$142.90M	$142.90M	$146.10M	$151.50M	$168.10M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$1.06B	$1.04B	$1.10B	$1.05B	$1.17B	$1.14B	$1.14B	$1.13B	$1.18B	$1.15B	$1.26B	$1.42B
Cost of revenue	$858.30M	$845.50M	$867.90M	$826.40M	$924.10M	$908.60M	$897.90M	$870.20M	$903.70M	$888.60M	$951.30M	$1.04B
Gross profit	$205.70M	$197.40M	$227.40M	$224.80M	$248.60M	$235.80M	$242.50M	$255.30M	$273.40M	$262.90M	$309.80M	$380.20M
Selling, general & admin	$92.30M	$82.00M	$88.90M	$82.40M	$89.00M	$85.00M	$82.80M	$94.60M	$102.70M	$92.10M	$95.70M	$107.70M
Operating income	$108.30M	$115.20M	$142.60M	$142.20M	$208.90M	$146.90M	$161.00M	$162.40M	$170.60M	$163.80M	$220.00M	$271.90M
Pre-tax income	$8.10M	$85.30M	$110.90M	$114.90M	$175.00M	$121.50M	$133.30M	$144.60M	$122.90M	$136.60M	$192.90M	$244.80M
Income tax	-$141.10M	$16.90M	$25.30M	$28.30M	$32.90M	$21.00M	$29.30M	$31.00M	$22.40M	$16.10M	$38.60M	$51.50M
Net income	$145.70M	$66.10M	$81.90M	$82.70M	$137.10M	$97.00M	$100.70M	$110.00M	$96.60M	$118.20M	$151.00M	$189.80M
EBITDA	$147.80M	$151.20M	$180.50M	$180.70M	$248.00M	$187.70M	$202.60M	$205.00M	$213.70M	$208.80M	$264.00M	$316.80M
EPS (basic)	$1.15	$0.52	$0.66	$0.64	$1.00	$0.68	$0.72	$0.80	$0.71	$0.86	$1.11	$1.39
EPS (diluted)	$0.99	$0.46	$0.58	$0.57	$0.94	$0.67	$0.70	$0.78	$0.69	$0.85	$1.09	$1.37
Diluted shares	-100.00K	147.50M	146.30M	146.80M	-300.00K	144.20M	143.10M	140.50M	-800.00K	138.60M	138.30M	138.40M
Gross margin	19.3%	18.9%	20.8%	21.4%	21.2%	20.6%	21.3%	22.7%	23.2%	22.8%	24.6%	26.7%
Operating margin	10.2%	11.0%	13.0%	13.5%	17.8%	12.8%	14.1%	14.4%	14.5%	14.2%	17.4%	19.1%
Net margin	13.7%	6.3%	7.5%	7.9%	11.7%	8.5%	8.8%	9.8%	8.2%	10.3%	12.0%	13.3%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$743.90M	$394.40M	$425.60M	$406.60M	$721.20M	$475.80M	$319.60M	$372.20M	$416.70M	$401.70M	$783.00M	$442.30M
Receivables	$625.00M	$720.50M	$719.80M	$730.20M	$709.20M	$827.00M	$787.90M	$709.90M	$686.10M	$664.40M	$646.60M	$733.40M
Inventory	$1.25B	$1.28B	$1.32B	$1.41B	$1.35B	$1.40B	$1.41B	$1.41B	$1.40B	$1.58B	$1.67B	$1.66B
Total current assets	$2.74B	$2.52B	$2.65B	$2.78B	$2.94B	$2.88B	$2.70B	$2.66B	$2.68B	$2.80B	$3.28B	$3.05B
Goodwill	$227.20M	$227.20M	$227.20M	$227.20M	$227.20M	$227.20M	$227.20M	$225.20M	$225.20M	$225.20M	$225.20M	$225.20M
Total assets	$4.99B	$4.78B	$4.92B	$5.07B	$5.23B	$5.18B	$5.02B	$5.00B	$5.10B	$5.23B	$5.74B	$5.57B
Total current liabilities	$977.10M	$897.10M	$1.25B	$945.30M	$1.21B	$1.14B	$1.07B	$1.06B	$1.01B	$1.05B	$1.41B	$1.10B
Short-term debt	$31.90M	$27.10M	$316.80M	$27.90M	$180.40M	$179.90M	$179.30M	$191.70M	$31.10M	$33.20M	$383.60M	$49.70M
Long-term debt	$2.15B	$2.15B	$1.85B	$1.86B	$1.71B	$1.71B	$1.71B	$1.72B	$1.72B	$1.79B	$1.81B	$1.81B
Total debt	$2.18B	$2.17B	$2.17B	$1.88B	$1.90B	$1.89B	$1.89B	$1.91B	$1.75B	$1.83B	$2.19B	$1.86B
Total liabilities	$3.50B	$3.41B	$3.45B	$3.15B	$3.28B	$3.20B	$3.16B	$3.18B	$3.18B	$3.35B	$3.74B	$3.43B
Shareholders' equity	$1.37B	$1.26B	$1.36B	$1.79B	$1.85B	$1.87B	$1.74B	$1.71B	$1.80B	$1.77B	$1.88B	$2.01B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$417.20M	-$98.80M	$101.10M	$24.00M	$380.90M	-$92.50M	$161.50M	$229.50M	$315.80M	$128.20M	$131.80M	$154.60M
Capital expenditures	$53.40M	$65.80M	$60.20M	$65.80M	$47.30M	$53.30M	$72.10M	$62.50M	$92.70M	$55.20M	$68.60M	$92.80M
Free cash flow	$363.80M	-$164.60M	$40.90M	-$41.80M	$333.60M	-$145.80M	$89.40M	$167.00M	$223.10M	$73.00M	$63.20M	$61.80M
Investing cash flow	-$50.00M	-$63.80M	-$53.30M	-$61.10M	$18.60M	-$50.60M	-$68.60M	-$29.80M	-$85.50M	-$53.60M	-$63.20M	-$79.00M
Financing cash flow	-$56.20M	-$186.90M	-$7.00M	$27.70M	-$94.20M	-$107.50M	-$258.30M	-$146.80M	-$187.30M	-$88.80M	$312.20M	-$417.90M
Share buybacks	$30.10M	$150.00M	$0	$40.00M	$70.00M	$70.00M	$250.00M	$150.00M	$0	$75.00M	$50.00M	$70.00M
Stock-based compensation	$7.60M	$6.20M	$11.00M	$9.40M	$7.50M	$7.20M	$7.40M	$7.70M	$6.70M	$6.40M	$7.70M	$9.20M
Depreciation & amortization	$39.50M	$36.00M	$37.90M	$38.50M	$39.10M	$40.80M	$41.60M	$42.60M	$43.10M	$45.00M	$44.00M	$44.90M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.