Howmet Aerospace Inc. Financial Ratios — HWM Stock

Profitability (USD)

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	-7.65	- -	- -	- -	139.49	38.57	28.1	37.89	42.75	43.5	39.29
Return on Assets (%)	- -	-1.77	-3.33	-0.38	3.43	2.59	1.8	2.38	4.58	7.4	11.03	13.9
Return on Capital (%)	- -	-8.02	-15.88	-2.22	14.43	10.29	- -	8.08	11.54	15.88	20.56	22.66
Return on Invested Capital (%)	- -	-6.41	-15.65	-1.71	5.72	6.03	- -	7.87	9.61	12.03	17.08	20.72
Gross Margin (%)	17.49	18.6	21.77	21.13	24.55	26.54	26.26	27.67	27.55	28.12	31.1	34.17
EBITDA Margin (%)	17.83	17.3	18.08	14.78	22.46	23.57	21.6	22.12	22.04	22.41	25.79	29.06
Operating Margin (%)	6.89	6.98	8.95	10.52	13.96	16.02	15.17	16.69	17.36	18.31	22.06	25.63
Incremental Operating Margin (%)	- -	-2.33	-1,273.68	45.05	6.76	59.69	18.43	-11.15	22.14	23.85	53.54	57.91
Pretax Margin (%)	0.9	1.47	3.34	3.63	6.31	2.96	3.25	6.52	10.7	14.68	18.61	22.3
Profit Margin (%)	2.14	-2.59	-7.59	-0.57	9.47	6.62	4.96	5.19	8.28	11.52	15.55	18.27
Net Income to Common Margin (%)	1.97	-3.15	-8.15	-0.98	9.44	6.59	4.92	5.15	8.25	11.49	15.52	18.25
Effective Tax Rate (%)	153.98	185.25	356.52	115.74	27.8	40	- -	20.37	22.61	21.54	16.49	18.04
Dvd Payout Ratio (%)	-80.92	-154	-14.89	-85.83	38.11	44.35	4.31	6.64	8.99	9.31	9.28	11.89
Sustainable Growth Rate (%)	- -	-19.43	- -	- -	- -	77.62	36.91	26.23	34.48	38.77	39.46	34.62

Credit (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	8,827	8,084	6,844	6,330	5,940	5,213	4,346	4,277	3,835	3,471	3,213
ST Debt	- -	41	40	38	434	1,034	414	38	32	238	43	233
LT Debt	- -	8,786	8,044	6,806	5,896	4,906	4,799	4,308	4,245	3,597	3,428	2,980
Total Debt/EBITDA	- -	4.11	3.61	3.57	4.16	3.55	4.59	3.95	3.43	2.58	1.81	1.34
Net Debt/EBITDA	- -	3.48	2.78	2.45	2.66	2.61	3.05	3.19	2.7	2.08	1.44	0.96
Total Debt/EBIT	- -	10.18	7.29	5.02	6.69	5.22	6.53	5.24	4.35	3.15	2.12	1.52
Net Debt/EBIT	- -	8.61	5.61	3.44	4.28	3.84	4.34	4.23	3.43	2.55	1.68	1.09
EBITDA to Interest Expense	5.06	4.54	4.49	3.86	4.04	4.95	3.58	4.25	5.45	6.83	10.53	15.88
EBITDA-CapEx/Interest Expense	5.06	4.54	4.49	3.86	4.04	4.95	3.58	4.25	5.45	6.83	10.53	15.88
EBIT to Interest Expense	1.95	1.83	2.22	2.75	2.51	3.36	2.52	3.2	4.29	5.58	9.01	14.01
Interest Expense	442	473	499	496	377	338	317	259	229	218	182	151
Common Equity/Total Assets	- -	28.03	-2.94	-4.1	0.67	3.11	6.96	10.03	14.04	20.43	30.15	40.21
Long-Term Debt/Equity (%)	- -	62.18	156.47	138.22	105.57	106.54	134.16	122.81	117.88	89.1	75.27	55.67
Long-Term Debt/Capital (%)	- -	41.45	106.14	110.74	90.4	74.84	79.13	79.4	73.54	59.75	51.19	38.66
Long-Term Debt/Total Assets (%)	- -	24.09	40.14	36.36	31.54	27.94	41.94	42.16	41.39	34.49	32.59	26.66
Total Debt/Equity (%)	- -	62.47	157.25	138.99	113.34	128.99	145.74	123.89	118.77	95	76.22	60.02
Total Debt/Capital (%)	- -	41.65	106.66	111.36	97.06	90.62	85.95	80.1	74.1	63.7	51.83	41.68
Total Debt/Total Assets (%)	- -	24.2	40.34	36.56	33.86	33.82	45.56	42.53	41.71	36.78	33	28.74
Net Debt to Equity	- -	52.83	121.01	95.33	72.57	94.74	96.87	100.11	93.61	76.69	60.41	43.12
Net Debt/Capital (%)	- -	37.64	108.83	117.47	95.48	87.65	77.78	74.63	67.68	57.23	44.86	33.13
EBITDA	2,236	2,147	2,241	1,915	1,522	1,673	1,136	1,100	1,248	1,488	1,916	2,398
EBITDA-CapEx	2,236	2,147	2,241	1,915	1,522	1,673	1,136	1,100	1,248	1,488	1,916	2,398
Operating Income (Loss)	864	867	1,109	1,364	946	1,137	798	830	983	1,216	1,639	2,115

Liquidity (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	0.26	0.68	0.76	0.65	0.38	0.97	0.57	0.53	0.34	0.36	0.42
Current Ratio	- -	1.53	2.14	2.26	1.87	1.42	2.21	2.18	2.12	1.86	2.17	2.13
Quick Ratio	- -	0.52	1.21	1.25	1.07	0.61	1.18	0.91	0.9	0.73	0.82	0.87
CFO/Avg Current Liab	- -	0.61	0.02	-0.01	0.07	0.12	- -	0.31	0.54	0.55	0.78	1.13
Common Equity/Total Assets	- -	28.03	-2.94	-4.1	0.67	3.11	6.96	10.03	14.04	20.43	30.15	40.21
Long-Term Debt/Equity (%)	- -	62.18	156.47	138.22	105.57	106.54	134.16	122.81	117.88	89.1	75.27	55.67
Long-Term Debt/Capital (%)	- -	41.45	106.14	110.74	90.4	74.84	79.13	79.4	73.54	59.75	51.19	38.66
Long-Term Debt/Total Assets (%)	- -	24.09	40.14	36.36	31.54	27.94	41.94	42.16	41.39	34.49	32.59	26.66
Total Debt/Equity (%)	- -	62.47	157.25	138.99	113.34	128.99	145.74	123.89	118.77	95	76.22	60.02
Total Debt/Capital (%)	- -	41.65	106.66	111.36	97.06	90.62	85.95	80.1	74.1	63.7	51.83	41.68
Total Debt/Total Assets (%)	- -	24.2	40.34	36.56	33.86	33.82	45.56	42.53	41.71	36.78	33	28.74
CFO/Total Liabilities	- -	7.08	0.64	-0.28	1.66	3.56	0.11	6.69	11.02	14.1	21.76	32.34
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	1.28	1.65	2.05	1.36	1.65	2.54	3.07	3.64	4.62	7.62	12.02

Working Capital (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	25.86	12.82	12.9	6.51	8.71	11.55	14.31	12.97	11.24	10.89	11.24
Days Sales Outstanding	- -	14.11	28.48	28.29	56.06	41.91	31.61	25.51	28.13	32.46	33.5	32.47
Inventory Turnover	- -	8.85	4.27	4.32	2.06	2.54	2.51	2.49	2.73	2.83	2.84	2.94
Days Inventory Outstanding	- -	41.25	85.4	84.51	177.43	143.47	145.65	146.67	133.93	129.01	128.52	123.94
Accounts Payable Turnover	- -	16.41	5.94	5.83	2.58	2.79	4.77	5.27	5.09	5.07	5.38	6.07
Accounts Payable Turnover Days	- -	22.25	61.44	62.59	141.27	130.9	76.47	69.2	71.73	71.98	67.81	60.14
Cash Conversion Cycle	- -	33.12	52.43	50.21	92.22	54.48	100.8	102.98	90.33	89.49	94.21	96.27
Inventory to Cash Days	- -	-27.14	-56.92	-56.22	-121.37	-101.56	-114.04	-121.16	-105.79	-96.55	-95.02	-91.47
Inventories	- -	2,284	2,253	2,480	2,492	1,607	1,488	1,402	1,609	1,765	1,840	1,849
Raw Materials	- -	497	484	462	453	342	331	293	371	423	479	502
Work In Process	- -	1,115	1,144	1,349	1,371	741	629	631	748	891	903	885
Finished Goods	- -	672	625	669	668	524	528	478	490	451	458	462
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	14,734	9,305	8,126	12,286	8,141	13,730	12,419	13,682	16,396	22,307	44,623	82,828
- Cash & Cash Equivalents	- -	1,362	1,863	2,150	2,277	1,577	1,610	720	791	610	564	742
+ Preferred Equity and Hybrid Capital	- -	58	58	55	55	55	55	55	55	55	55	- -
+ Minority/Non Controlling Interest	- -	2,085	26	14	12	14	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	8,827	8,084	6,844	6,330	5,940	5,213	4,346	4,277	3,835	3,471	3,213
Enterprise Value	14,734	18,913	14,431	17,049	12,261	18,162	16,077	17,363	19,937	25,587	47,585	85,299
Total Capital	- -	21,195	7,579	6,146	6,522	6,555	6,065	5,426	5,772	6,020	6,697	7,708
Total Debt/Capital (%)	- -	41.65	106.66	111.36	97.06	90.62	85.95	80.1	74.1	63.7	51.83	41.68
Total Debt / EV	- -	0.47	0.56	0.4	0.52	0.33	0.32	0.25	0.21	0.15	0.07	0.04
EV/Sales	1.17	1.52	1.16	1.32	1.81	2.56	3.06	3.49	3.52	3.85	6.4	10.34
EV/EBITDA	6.59	8.81	6.44	8.9	8.06	10.86	14.15	15.78	15.98	17.2	24.84	35.57
EV/EBIT	17.05	21.81	13.01	12.5	12.96	15.97	20.15	20.92	20.28	21.04	29.03	40.33
EV/Cash Flow to Firm	10.27	16.04	- -	- -	25.07	27.36	40.18	26.5	21.9	23.87	32.82	42.48
EV/Free Cash Flow to Firm	10.27	16.04	- -	- -	25.07	27.36	40.18	26.5	21.9	23.87	32.82	42.48
Diluted Market Cap	14,734	9,305	8,126	12,286	8,474	14,241	12,538	13,861	16,609	22,512	44,842	83,238
Diluted Enterprise Value	14,734	18,913	14,431	17,049	12,594	18,673	16,196	17,542	20,150	25,792	47,804	85,709
EV per Share	33.6	43.13	32.93	37.81	25.39	40.7	36.95	40.39	47.92	62.08	116.63	211.14
TTM Sales	12,542	12,413	12,394	12,960	6,778	7,098	5,259	4,972	5,663	6,640	7,430	8,252
TTM EBITDA	2,236	2,147	2,241	1,915	1,522	1,673	1,136	1,100	1,248	1,488	1,916	2,398
TTM Operating Income	864	867	1,109	1,364	946	1,137	798	830	983	1,216	1,639	2,115
TTM Cash Flow to Firm	1,435	1,179	-1,185	-117	489	664	400	655	910	1,072	1,450	2,008
TTM Free Cash Flow to Firm	1,435	1,179	-1,185	-117	489	664	400	655	910	1,072	1,450	2,008

Multiples (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	8.8	5.88	85.53	-315.04	39.05	30.89	1,393.06	30.87	22.66	24.99	34.55	44.18
EV/EBIT	17.05	21.81	13.01	12.5	12.96	15.97	20.15	20.92	20.28	21.04	29.03	40.33
Enterprise Value	14,734	18,913	14,431	17,049	12,261	18,162	16,077	17,363	19,937	25,587	47,585	85,299
Low Price	20.73	16.79	13.2	18.64	15.63	16.12	9.87	22.91	29.35	38.17	52.56	105.04
EV/Sales	1.17	1.52	1.16	1.32	1.81	2.56	3.06	3.49	3.52	3.85	6.4	10.34
EV/EBITDA	6.59	8.81	6.44	8.9	8.06	10.86	14.15	15.78	15.98	17.2	24.84	35.57
Price/Earnings	59.65	- -	- -	- -	12.72	29.34	47.95	53.44	35.11	29.24	38.7	55
Price/Earnings Average	54.41	-27.98	-8.83	-90.99	16.38	22.83	33.22	52.57	31.17	24.8	29.91	44.6
Price/Earnings High	67.06	-40.88	-10.77	-108.96	23.52	30.5	57.58	60.5	35.44	29.46	42.71	57.01
Price/Earnings Low	36.8	-18.83	-5.73	-66.18	11.79	15.37	16.58	38.47	26.15	20.62	18.6	28.18
Price/Book Value	- -	0.91	-13.8	-16.02	65.13	25.15	15.58	13.35	11.39	10.47	14.07	18.43
Price/Book Value Average	- -	1.07	-15.15	-15.07	83.84	19.57	10.79	13.13	10.11	8.89	10.87	14.94
Price/Book Value High	- -	1.56	-18.47	-18.04	120.41	26.14	18.71	15.11	11.49	10.55	15.53	19.1
Price/Book Value Low	- -	0.72	-9.82	-10.96	60.38	13.17	5.39	9.61	8.48	7.39	6.76	9.44
Price/Tangible Book Value	- -	1.21	-7.72	-18.82	73.35	-118.36	-10.79	-11.76	-16.6	-39.98	3,187.35	94.77
Price/Tangible Book Value Average	- -	1.42	-8.47	-17.7	94.42	-92.12	-7.47	-11.57	-14.73	-33.92	2,462.95	76.85
Price/Tangible Book Value High	- -	2.07	-10.33	-21.19	135.6	-123.06	-12.96	-13.32	-16.75	-40.28	3,517.83	98.24
Price/Tangible Book Value Low	- -	0.95	-5.49	-12.87	67.99	-62.01	-3.73	-8.47	-12.36	-28.19	1,531.75	48.55
Price/Sales	1.17	0.75	0.66	0.95	1.2	1.93	2.36	2.75	2.9	3.36	6.01	10.04
Price/Sales Average	1.07	0.88	0.72	0.89	1.55	1.51	1.64	2.71	2.57	2.85	4.64	8.14
Price/Sales High	1.32	1.29	0.88	1.07	2.22	2.01	2.84	3.11	2.92	3.38	6.63	10.4
Price/Sales Low	0.72	0.59	0.47	0.65	1.11	1.01	0.82	1.98	2.16	2.37	2.89	5.14
Price/Cash Flow	8.8	5.88	85.53	-315.04	37.52	29.78	1,379.86	30.47	22.37	24.76	34.38	43.96
Price/Cash Flow Average	8.03	6.92	93.91	-296.29	48.3	23.18	955.91	29.97	19.86	21	26.56	35.65
Price/Cash Flow High	9.89	10.1	114.52	-354.8	69.36	30.96	1,656.89	34.49	22.58	24.95	37.94	45.57
Price/Cash Flow Low	5.43	4.65	60.9	-215.5	34.78	15.6	477.2	21.93	16.66	17.46	16.52	22.52
Price/Free Cash Flow Average	8.03	6.92	93.91	-296.29	50.27	24.04	965.05	30.37	20.12	21.2	26.7	35.83
Price/Free Cash Flow High	9.89	10.1	114.52	-354.8	72.2	32.12	1,672.74	34.94	22.87	25.17	38.13	45.8
Price/Free Cash Flow Low	5.43	4.65	60.9	-215.5	36.2	16.18	481.76	22.22	16.87	17.62	16.6	22.64
EV/Sales Average	1.07	1.66	1.23	1.26	2.15	2.13	2.33	3.45	3.2	3.34	5.04	8.44
EV/Sales High	1.32	2.06	1.39	1.44	2.83	2.64	3.53	3.86	3.55	3.88	7.03	10.7
EV/Sales Low	0.72	1.37	0.98	1.02	1.72	1.64	1.51	2.72	2.78	2.86	3.28	5.44
EV/EBITDA Average	6.01	9.57	6.79	8.52	9.59	9.04	10.79	15.58	14.5	14.92	19.54	29.04
EV/EBITDA High	7.41	11.92	7.67	9.71	12.6	11.18	16.35	17.43	16.1	17.31	27.25	36.83
EV/EBITDA Low	4.06	7.9	5.4	6.88	7.67	6.95	7	12.3	12.62	12.78	12.74	18.73
EV/EBIT Average	15.56	23.7	13.73	11.96	15.43	13.3	15.36	20.65	18.41	18.26	22.85	32.93
EV/EBIT High	19.17	29.52	15.5	13.64	20.27	16.45	23.27	23.09	20.44	21.18	31.86	41.76
EV/EBIT Low	10.52	19.57	10.9	9.65	12.33	10.22	9.97	16.3	16.02	15.64	14.89	21.23
Last Price	33.6	21.22	18.54	27.25	16.86	30.77	28.54	31.83	39.41	54.12	109.37	205.02
High Price	37.77	36.45	24.82	30.69	31.17	31.99	34.27	36.03	39.78	54.53	120.71	212.52
Enterprise Value Average	13,440	20,549	15,226	16,319	14,600	15,118	12,261	17,139	18,097	22,205	37,443	69,638
Enterprise Value High	16,563	25,594	17,184	18,600	19,171	18,706	18,570	19,168	20,091	25,756	52,212	88,329
Enterprise Value Low	9,089	16,971	12,090	13,167	11,667	11,625	7,953	13,529	15,752	19,013	24,406	44,907

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	- -	439	439	481	483	433	433	422	412	410	405	402
Diluted Weighted Avg Shares	439	439	438	451	503	463	439	435	421	416	410	406
Basic Weighted Avg Shares	439	439	438	451	483	446	435	430	416	412	408	404
Revenue per Share	28.6	28.31	28.28	28.74	14.04	15.91	12.09	11.57	13.61	16.11	18.21	20.43
EBITDA per Share	5.1	4.9	5.11	4.25	3.15	3.75	2.61	2.56	3	3.61	4.7	5.94
Operating Income per Share	1.97	1.98	2.53	3.03	1.96	2.55	1.83	1.93	2.36	2.95	4.02	5.24
Basic EPS, GAAP	0.56	-0.89	-2.3	-0.28	1.33	1.05	0.6	0.6	1.12	1.85	2.83	3.73
Basic EPS from Cont Ops	-0.14	-0.36	-2.42	-0.16	0.64	0.28	0.48	0.6	1.13	1.86	2.83	3.73
Diluted EPS, GAAP	0.56	-0.89	-2.3	-0.28	1.27	1.01	0.59	0.59	1.11	1.83	2.81	3.71
Diluted EPS from Cont Ops	-0.14	-0.36	-2.42	-0.16	0.61	0.27	0.48	0.59	1.11	1.84	2.82	3.71
Dividend per Share	0.37	0.51	0.52	0.36	0.25	0.13	0.03	0.04	0.11	0.18	0.27	0.45
Cash Flow per Share	3.82	3.61	0.22	-0.09	0.45	1.03	0.02	1.04	1.76	2.19	3.18	4.66
Free Cash Flow per Basic Share	3.82	3.61	0.22	-0.09	0.45	1.03	0.02	1.04	1.76	2.19	3.18	4.66
Cash & Equivalents per Share	- -	3.11	4.25	4.77	4.72	3.53	3.7	1.68	1.9	1.48	1.38	1.84
Book Value per Share	- -	23.32	-1.34	-1.7	0.26	1.22	1.83	2.38	3.46	5.17	7.77	11.13
Tangible Book Value per Share	- -	17.6	-2.4	-1.45	0.23	-0.26	-2.65	-2.71	-2.37	-1.35	0.03	2.16

Howmet Aerospace Inc.

Profitability (USD)

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Enterprise Value (USD)

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Per Share Data Items (USD)