Howmet Aerospace Inc.

HWM 10-K · Q4 2025

HWM Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 2,168 1,891 +14.6%
Show Product Lines breakouts
Aerospace - Commercial 1,137 1,002 +13.5%
Aerospace - Commercial · Engine Products 629 537 +17.1%
Aerospace - Commercial · Engineered Structures 188 199 -5.5%
Aerospace - Commercial · Fastening Systems 320 266 +20.3%
Aerospace - Defense 367 305 +20.3%
Aerospace - Defense · Engine Products 236 200 +18.0%
Aerospace - Defense · Engineered Structures 85 62 +37.1%
Aerospace - Defense · Fastening Systems 46 43 +7.0%
Commercial Transportation 310 298 +4.0%
Commercial Transportation · Fastening Systems 46 55 -16.4%
Commercial Transportation · Forged Wheels 264 243 +8.6%
Show Business Segments breakouts
Engine Products 1,163 972 +19.7%
Engine Products · Intersegment Elimination -12 -13 +7.7%
Engine Products · Operating Segments 1,165 973 +19.7%
Engineered Structures 287 275 +4.4%
Engineered Structures · Intersegment Elimination -17 -17 0.0%
Engineered Structures · Operating Segments 288 278 +3.6%
Fastening Systems 454 401 +13.2%
Fastening Systems · Operating Segments 455 402 +13.2%
Forged Wheels 264 243 +8.6%
Forged Wheels · Operating Segments 264 243 +8.6%
Show — breakouts
Revenue 703 508 +38.4%
Revenue 703 508 +38.4%
Revenue 82 137 -40.1%
Revenue 32 34 -5.9%
Revenue 14 14 0.0%
Revenue 42 37 +13.5%
Show Consolidation Items breakouts
Intersegment Elimination -30 -31 +3.2%
Operating Segments 2,172 1,896 +14.6%
Research & Development 10 7 +42.9%
Selling, General & Administrative 96 77 +24.7%
Operating Expenses (Q)
Show Consolidation Items breakouts
Corporate Non Segment -28 -13 -115.4%
Operating Income 489 445 +9.9%
Non-Operating Income (Expense) 7 13 -46.2%
Income Before Taxes 430 392 +9.7%
Income Tax Expense (Benefit) 58 78 -25.6%
Net Income 372 314 +18.5%
Show Equity Components breakouts
Retained Earnings 372 314 +18.5%
Comprehensive Income 453 234 +93.6%
Other Comprehensive Income 81 -80 +201.3%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 72 2 +3500.0%
Accumulated Gain Loss Net Cash Flow Hedge Parent 3 19 -84.2%
Accumulated Other Comprehensive Income 81 -80 +201.3%
Accumulated Translation Adjustment 6 -101 +105.9%
EPS (Basic) 0.92 0.77 +19.5%
EPS (Diluted) 0.92 0.77 +19.5%
Wtd Avg Shares (Basic) 0 0
Wtd Avg Shares (Diluted) 0 -1 +100.0%
Net Income Loss Available To Common Stockholders Basic 372 314 +18.5%
Foreign Currency Transaction Gain Loss Before Tax 1 4 -75.0%
Depreciation And Amortization 73 73 0.0%
Show Business Segments breakouts
Engine Products · Operating Segments 39 39 0.0%
Engineered Structures · Operating Segments 10 10 0.0%
Fastening Systems · Operating Segments 12 11 +9.1%
Forged Wheels · Operating Segments 11 12 -8.3%
Show Consolidation Items breakouts
Operating Segments 72 72 0.0%
Gain Loss On Investments 5 7 -28.6%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents 742 564 +31.6%
Show Consolidation Items breakouts
Corporate Non Segment 742 564 +31.6%
Accounts Receivable 779 689 +13.1%
Inventory 1,849 1,840 +0.5%
Prepaid Expenses & Other Current Assets 392 249 +57.4%
Total Current Assets 3,779 3,362 +12.4%
Non-Current Assets
Property, Plant & Equipment 2,593 2,386 +8.7%
Show Consolidation Items breakouts
Corporate Non Segment 77 83 -7.2%
Show Property Plant And Equipment By Type breakouts
Property, Plant and Equipment, Excluding Construction in Progress 2,258 2,077 +8.7%
Operating Lease Right-of-Use Assets 162 155 +4.5%
Goodwill 4,022 4,010 +0.3%
Show Business Segments breakouts
Engine Products 2,138 2,107 +1.5%
Engineered Structures 303 303 0.0%
Fastening Systems 1,610 1,593 +1.1%
Forged Wheels 7 7 0.0%
Intangible Assets 435 453 -4.0%
Show Finite Lived Intangible Assets By Major Class breakouts
Computer Software Intangible Asset 34 32 +6.2%
Other Intangible Assets 401 421 -4.8%
Deferred Tax Assets 40 35 +14.3%
Other Non-Current Assets 288 251 +14.7%
Total Assets 11,179 10,519 +6.3%
Show Business Segments breakouts
Engine Products · Operating Segments 5,626 5,145 +9.3%
Engineered Structures · Operating Segments 1,330 1,355 -1.8%
Fastening Systems · Operating Segments 2,761 2,711 +1.8%
Forged Wheels · Operating Segments 691 701 -1.4%
Show Consolidation Items breakouts
Operating Segments 10,408 9,912 +5.0%
Current Liabilities
Accounts Payable 845 948 -10.9%
Deferred Revenue (Current) 147
Deferred Revenue 147 60 +145.0%
Current Portion of Long-Term Debt 191 6 +3083.3%
Total Current Liabilities 1,771 1,549 +14.3%
Non-Current Liabilities
Long-Term Debt 2,859 3,309 -13.6%
Long-Term Debt 3,050 3,315 -8.0%
Operating Lease Liabilities 121 119 +1.7%
Total Liabilities 5,826 5,965 -2.3%
Contract With Customer Liability Noncurrent 106
Stockholders' Equity
Common Stock 402 405 -0.7%
Additional Paid-In Capital 2,531 3,206 -21.1%
Retained Earnings 4,093 2,766 +48.0%
Accumulated Other Comprehensive Income -1,673 -1,878 +10.9%
Total Stockholders' Equity 5,353 4,554 +17.5%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -592 -672 +11.9%
Accumulated Gain Loss Net Cash Flow Hedge Parent -29 1 -3000.0%
Accumulated Other Comprehensive Income -1,673 -1,878 +10.9%
Accumulated Translation Adjustment -1,052 -1,207 +12.8%
Additional Paid In Capital 2,531 3,206 -21.1%
Common Stock 402 405 -0.7%
Retained Earnings 4,093 2,766 +48.0%
Total Liabilities & Equity 11,179 10,519 +6.3%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Depreciation & Amortization 73 73 0.0%
Other Non-Cash Items 5 -3 +266.7%
Change in Inventory 45 33 +36.4%
Change in Prepaid & Other Assets 1 -23 +104.3%
Change in Other Liabilities 55 -8 +787.5%
Net Cash from Operations 654 480 +36.2%
Investing Activities
Capital Expenditures -124 -102 -21.6%
Net Cash from Investing -122 -107 -14.0%
Financing Activities
Share Repurchases -200 -190 -5.3%
Tax Withholding for Share Compensation -1 -1 0.0%
Net Cash from Financing -449 -284 -58.1%
Supplemental
Unpaid Capital Expenditures -4 26 -115.4%
Other Cash Flow
Net Change in Cash 83 90 -7.8%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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