Howmet Aerospace Inc.
HWM · Rolling Drawing & Extruding of Nonferrous Metals · 400.1M shares · -3%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $238M (gross $250M, SBC $12M)
Reference price $269.50 · est. market cap ~$107.8B — last insider sale, 2026-05-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A87Dominant, wide-moat aerospace-components franchise with top-decile returns, margins, and cash generation.
Strengths
- Top-decile ROA (13.5%, 92.8th), operating margin 24.8% (91.2nd), FCF $1.43B (93rd) and ROE 28.2%
- Sales +11% and net income +31% with pricing power in excess of cost inflation; sole-source aerospace/engine content
Risks
- Aerospace/defense cyclicality and OEM build-rate uncertainty
- Raw-material (titanium/nickel) and tariff cost exposure
Notable findings
- Strong balance sheetStrong balance sheet — $742M cash & investments
- Buying back stockNet buyback — share count -3%/yr over 4y
- Insider sellingInsider selling — 3 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$23M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
24.8%
Net margin
18.3%
Return on equity
28.2%
Return on assets
13.5%
ROIC
19.7%
Revenue growth (QoQ)
6.7%
Net-income growth
30.6%
Debt / equity
0.5×
Net debt / EBITDA
0.9×
Current ratio
2.1×
Free cash flow
$1.4B
EBITDA
$2.3B
Tangible book value
$874M
Cash & investments
$742M
Stock comp / revenue
0.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-21 | Smith Gunner | Grant | 731 | — |
| 2026-05-21 | SCHMIDT ULRICH | Grant | 731 | — |
| 2026-05-21 | Miller Jody | Grant | 731 | — |
| 2026-05-21 | LEDUC ROBERT F | Grant | 731 | — |
| 2026-05-21 | CANTIE JOSEPH S | Grant | 731 | — |
| 2026-05-21 | Barner Sharon R | Grant | 731 | — |
| 2026-05-21 | Alving Amy E | Grant | 731 | — |
| 2026-05-21 | ALBAUGH JAMES F | Grant | 731 | — |
| 2026-05-11 | Marchuk Neil Edward | Sell | 42K | $269.50 |
| 2026-04-15 | Arena Jonathan A | Grant | 3.5K | — |
| 2026-04-02 | CANTIE JOSEPH S | Grant | 155 | $232.68 |
| 2026-02-26 | Shultz Barbara Lou | Sell | 1.0K | $260.00 |
| 2026-02-18 | Marchuk Neil Edward | Sell | 45K | $251.70 |
| 2026-02-17 | CHANATRY MICHAEL NIEM | Grant | 2.7K | — |
| 2026-02-17 | Shultz Barbara Lou | Grant | 446 | — |
| 2026-02-17 | Winterlich Patrick | Grant | 3.2K | — |
| 2026-02-17 | Marchuk Neil Edward | Grant | 3.9K | — |
| 2026-02-17 | PLANT JOHN C | Grant | 22K | — |
| 2026-02-16 | Shultz Barbara Lou | Tax withheld | 2.7K | $250.21 |
| 2026-02-16 | Marchuk Neil Edward | Tax withheld | 29K | $250.21 |
| 2026-02-16 | CHANATRY MICHAEL NIEM | Tax withheld | 9.6K | $250.21 |
| 2026-02-15 | CHANATRY MICHAEL NIEM | Tax withheld | 11K | $250.21 |
| 2026-02-03 | CHANATRY MICHAEL NIEM | Grant | 17K | — |
| 2026-02-03 | Marchuk Neil Edward | Grant | 50K | — |
| 2026-02-03 | Shultz Barbara Lou | Grant | 4.1K | — |
| 2026-01-05 | LEDUC ROBERT F | Grant | 28 | $212.92 |
| 2026-01-05 | Miller Jody | Grant | 158 | $212.92 |
| 2026-01-05 | CANTIE JOSEPH S | Grant | 158 | $212.92 |
| 2025-12-31 | Marchuk Neil Edward | Tax withheld | 5.3K | $205.02 |
| 2025-10-02 | Miller Jody | Grant | 176 | $191.08 |
| 2025-10-02 | LEDUC ROBERT F | Grant | 31 | $191.08 |
| 2025-10-02 | CANTIE JOSEPH S | Grant | 176 | $191.08 |
| 2025-08-05 | LIN LOLA FELICE | Sell | 13K | $180.51 |
| 2025-07-02 | Miller Jody | Grant | 191 | $175.95 |
| 2025-07-02 | LEDUC ROBERT F | Grant | 34 | $175.95 |
| 2025-07-02 | CANTIE JOSEPH S | Grant | 191 | $175.95 |
| 2025-07-01 | PLANT JOHN C | Grant | 255K | — |
| 2025-05-30 | Alving Amy E | Grant | 1.0K | — |
| 2025-05-30 | Barner Sharon R | Grant | 1.0K | — |
| 2025-05-30 | CANTIE JOSEPH S | Grant | 1.0K | — |
| 2025-05-30 | LEDUC ROBERT F | Grant | 1.0K | — |
| 2025-05-30 | Miller Jody | Grant | 1.0K | — |
| 2025-05-30 | Smith Gunner | Grant | 1.0K | — |
| 2025-05-30 | ALBAUGH JAMES F | Grant | 1.0K | — |
| 2025-05-30 | SCHMIDT ULRICH | Grant | 1.0K | — |
| 2025-05-12 | PLANT JOHN C | Sell | 650K | $156.96 |
| 2025-05-12 | Marchuk Neil Edward | Sell | 30K | $158.53 |
| 2025-05-12 | PLANT JOHN C | Sell | 150K | $156.96 |
| 2025-05-05 | CHANATRY MICHAEL NIEM | Tax withheld | 10K | $154.34 |
| 2025-05-05 | Giacobbe Ken | Tax withheld | 30K | $154.34 |
| 2025-05-05 | Shultz Barbara Lou | Tax withheld | 2.2K | $154.34 |
| 2025-05-05 | Shultz Barbara Lou | Sell | 1.2K | $155.17 |
| 2025-05-05 | Marchuk Neil Edward | Tax withheld | 32K | $154.34 |
| 2025-05-05 | LIN LOLA FELICE | Tax withheld | 21K | $154.34 |
| 2025-05-05 | Giacobbe Ken | Tax withheld | 44K | $154.34 |
| 2025-04-02 | LEDUC ROBERT F | Grant | 44 | $133.90 |
| 2025-04-02 | Miller Jody | Grant | 252 | $133.90 |
| 2025-04-02 | LEDUC ROBERT F | Grant | 89 | $133.90 |
| 2025-04-02 | CANTIE JOSEPH S | Grant | 252 | $133.90 |
| 2025-02-18 | Shultz Barbara Lou | Grant | 824 | — |
| 2025-02-18 | PLANT JOHN C | Grant | 41K | — |
| 2025-02-18 | Marchuk Neil Edward | Grant | 6.4K | — |
| 2025-02-18 | LIN LOLA FELICE | Grant | 4.0K | — |
| 2025-02-18 | LIN LOLA FELICE | Sell | 6.6K | $136.39 |
| 2025-02-18 | Giacobbe Ken | Grant | 5.9K | — |
| 2025-02-18 | CHANATRY MICHAEL NIEM | Grant | 3.8K | — |
| 2025-02-05 | Shultz Barbara Lou | Grant | 3.4K | — |
| 2025-02-05 | CHANATRY MICHAEL NIEM | Grant | 18K | — |
| 2025-02-05 | Giacobbe Ken | Grant | 52K | — |
| 2025-02-05 | LIN LOLA FELICE | Grant | 36K | — |
| 2025-02-05 | Marchuk Neil Edward | Grant | 55K | — |
| 2025-01-03 | CANTIE JOSEPH S | Grant | 299 | $112.76 |
| 2025-01-03 | LEDUC ROBERT F | Grant | 99 | $112.76 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-28 | 2026-05-28 | 0001104659-26-067497 ↗ |
| 8-K | 2026-05-26 | 2026-05-26 | 0001104659-26-066305 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0000004281-26-000019 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001104659-26-056645 ↗ |
| 8-K | 2026-04-06 | 2026-04-06 | 0001104659-26-039959 ↗ |
| 8-K | 2026-04-06 | 2026-04-06 | 0001104659-26-039791 ↗ |
| 8-K | 2026-03-10 | 2026-03-10 | 0001104659-26-025539 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001104659-26-022905 ↗ |
| 8-K | 2026-02-17 | 2026-02-17 | 0001104659-26-015914 ↗ |
| 8-K | 2026-02-17 | 2026-02-17 | 0001104659-26-016568 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0001104659-26-013832 ↗ |
| 10-K | 2026-02-12 | 2025-12-31 | 0000004281-26-000012 ↗ |