Financials · ATI

ATI Inc. (ATI) financials

For the twelve months ended Sep 27, 2026, ATI Inc. reported $5.01B of revenue and $555.60M of net income.

Revenue, TTM
$5.01B
Revenue growth, YoY
+9.4%
Net income, TTM
$555.60M
Net income growth, YoY
+24.9%
Net margin
11.1%
Free cash flow, TTM
$421.10M
EPS, diluted, TTM
$4.01
EPS growth, YoY
+29.8%
Cash
$442.30M
Total debt
$1.86B
P/E
42.97
P/S
4.76
Market cap
$23.88B
Annual revenue$4.59B
FY2016FY2025
Annual net income$404.30M
FY2016FY2025
Annual free cash flow$333.70M
FY2016FY2025

ATI revenue and earnings growth

ATI revenueQ3 2026$1.42B

Quarter YoY
+26.5%
QoQ
+12.9%
FY YoY
+5.2%
5Y CAGR
+9.0%

ATI revenue was $1.42B in fiscal Q3 2026 (ended Sep 27, 2026), up 26.5% from a year earlier and up 12.9% from the prior quarter. For the full fiscal 2025 it was $4.59B, up 5.2% from fiscal 2024. Compound annual growth was +9.0% over 5 years. It rose in 7 of the last 9 fiscal years.

ATI net incomeQ3 2026$189.80M

Quarter YoY
+72.5%
QoQ
+25.7%
FY YoY
+9.9%

ATI net income was $189.80M in fiscal Q3 2026 (ended Sep 27, 2026), up 72.5% from a year earlier and up 25.7% from the prior quarter. For the full fiscal 2025 it was $404.30M, up 9.9% from fiscal 2024. It rose in 3 of the last 4 fiscal years.

ATI EPSQ3 2026$1.37

Quarter YoY
+75.6%
QoQ
+25.7%
FY YoY
+11.8%

ATI diluted EPS was $1.37 in fiscal Q3 2026 (ended Sep 27, 2026), up 75.6% from a year earlier and up 25.7% from the prior quarter. For the full fiscal 2025 it was $2.85, up 11.8% from fiscal 2024.

ATI free cash flowQ3 2026$61.80M

Quarter YoY
-63.0%
QoQ
-2.2%
FY YoY
+98.5%
5Y CAGR
+61.5%

ATI free cash flow was $61.80M in fiscal Q3 2026 (ended Sep 27, 2026), down 63.0% from a year earlier and down 2.2% from the prior quarter. For the full fiscal 2025 it was $333.70M, up 98.5% from fiscal 2024. Compound annual growth was +61.5% over 5 years. Fiscal 2025 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
Dec 28, 2025
Dec 29, 2024
Dec 31, 2023
Jan 1, 2023
Jan 2, 2022
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$4.59B$4.36B$4.17B$3.84B$2.80B$2.98B$4.12B$4.05B$3.53B$3.13B
Cost of revenue$3.58B$3.46B$3.37B$3.12B$2.47B$2.69B$3.48B$3.42B$3.03B$2.91B
Gross profit$1.01B$898.20M$802.60M$714.20M$333.20M$292.80M$638.00M$630.30M$497.00M$222.80M
Research and development$21.30M$19.60M$20.70M$16.30M$16.50M$14.10M$17.80M$22.70M$13.30M$14.70M
Selling, general and admin$365.10M$342.30M$328.10M$297.50M$226.90M$201.00M$267.20M$268.20M$248.00M$240.80M
Operating income$640.90M$608.90M$466.40M$316.10M$117.60M-$1.30B$366.30M$362.10M$134.60M-$541.80M
Interest expense-$108.20M$92.80M$87.40M------
Pre-tax income$522.30M$486.10M$295.20M$354.60M$233.40M-$1.48B$236.50M$247.70M-$86.50M-$734.00M
Income tax$103.70M$103.40M-$128.20M$15.50M$26.80M$77.70M-$28.50M$11.00M-$6.80M-$106.90M
Net income$404.30M$367.80M$410.80M$323.50M$184.60M-$1.57B$252.50M$222.40M-$91.90M-$640.90M
EPS, basic$2.92$2.82$3.21$2.54$1.45-$12.43$2.01$1.78-$0.83-$5.97
EPS, diluted$2.85$2.55$2.81$2.23$1.32-$12.43$1.81$1.61-$0.83-$5.97
Diluted shares141.8M146.6M150.0M151.2M152.7M126.5M146.5M145.9M110.1M107.3M

Balance sheet

Balance sheet
Line item
Dec 28, 2025
Dec 29, 2024
Dec 31, 2023
Jan 1, 2023
Jan 2, 2022
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$416.70M$721.20M$743.90M$584.00M$687.70M$645.90M$490.80M$382.00M$141.60M$229.60M
Receivables$686.10M$709.20M$625.00M$579.20M$470.00M$345.80M$554.10M$527.80M$545.30M$452.10M
Inventory$1.40B$1.35B$1.25B$1.20B$1.05B$997.10M$1.16B$1.21B$1.18B$1.04B
Current assets$2.68B$2.94B$2.74B$2.48B$2.31B$2.07B$2.30B$2.25B$1.92B$1.77B
Goodwill$225.20M$227.20M$227.20M$227.20M$227.90M$240.70M$525.80M$534.70M$531.40M$641.90M
Total assets$5.10B$5.23B$4.99B$4.45B$4.29B$4.03B$5.63B$5.50B$5.19B$5.17B
Current liabilities$1.01B$1.21B$977.10M$963.90M$856.40M$653.30M$849.20M$836.90M$712.60M$708.70M
Short-term debt$31.10M$180.40M$31.90M$41.70M$131.30M$17.80M$11.50M$6.60M$10.10M$105.10M
Long-term debt$1.72B$1.71B$2.15B$1.71B$1.71B$1.55B$1.39B$1.54B$1.53B$1.77B
Total debt$1.75B$1.90B$2.18B$1.75B$1.84B$1.57B$1.40B$1.54B$1.54B$1.88B
Total liabilities$3.18B$3.28B$3.50B$3.29B$3.45B$3.39B$3.44B$3.51B$3.34B$3.73B
Shareholders' equity$1.80B$1.96B$1.48B$1.16B$832.70M$641.40M$2.19B$1.99B$1.84B$1.44B

Cash flow

Cash flow
Line item
Dec 28, 2025
Dec 29, 2024
Dec 31, 2023
Jan 1, 2023
Jan 2, 2022
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$614.30M$407.20M$85.90M$224.90M$16.10M$166.90M$230.10M$392.80M$22.40M-$43.70M
Capital expenditures$280.60M$239.10M$200.70M$130.90M$152.60M$136.50M$168.20M$139.20M$122.70M$202.20M
Free cash flow$333.70M$168.10M-$114.80M$94.00M-$136.50M$30.40M$61.90M$253.60M-$100.30M-$245.90M
Investing cash flow-$234.50M-$159.60M-$193.20M-$126.70M-$77.30M-$128.70M$81.70M-$145.10M-$119.60M-$200.00M
Financing cash flow-$699.90M-$260.40M$267.20M-$201.90M$103.00M$116.90M-$203.00M-$7.30M$9.20M$323.50M
Dividends paid------$0$0$0$25.80M
Share repurchases$470.00M$260.00M$85.20M$139.90M$0$0----
Stock-based compensation$29.00M$34.10M$29.10M$26.00M$21.10M$2.90M----
Depreciation and amortization$168.10M$151.50M$146.10M$142.90M$143.90M$143.30M$151.10M$156.40M$160.80M$170.30M

Key ratios

Key ratios
Line item
Dec 28, 2025
Dec 29, 2024
Dec 31, 2023
Jan 1, 2023
Jan 2, 2022
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY5.2%4.5%8.8%37.0%-6.1%-27.7%1.9%14.8%12.5%-
Net income growth, YoY9.9%-10.5%27.0%75.2%--13.5%---
EPS growth, YoY11.8%-9.3%26.0%68.9%--12.4%---
Gross margin22.0%20.6%19.2%18.6%11.9%9.8%15.5%15.6%14.1%7.1%
Operating margin14.0%14.0%11.2%8.2%4.2%-43.7%8.9%8.9%3.8%-17.3%
Net margin8.8%8.4%9.8%8.4%6.6%-52.7%6.1%5.5%-2.6%-20.4%
Free cash flow margin7.3%3.9%-2.8%2.5%-4.9%1.0%1.5%6.3%-2.8%-7.8%
Return on equity22.4%18.8%27.7%28.0%22.2%-245.2%11.5%11.2%-5.0%-44.4%
Return on assets7.9%7.0%8.2%7.3%4.3%-39.0%4.5%4.0%-1.8%-12.4%
Current ratio2.662.442.802.572.693.162.712.682.692.49
Debt to equity0.970.971.471.512.212.440.640.770.841.30

Source: XBRL data ATI Inc. files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ATI peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ATI$5.01B+9.4%$555.60M11.1%$23.88B
NUE$36.10B+17.2%$2.88B8.0%$55.58B
MT$61.35B-1.7%$3.15B5.1%$46.41B
STLD$22.22B+26.0%$1.95B8.8%$31.70B
TS$11.98B-4.3%$1.93B16.1%$31.16B
PKX₩68.99T-6.1%₩690.69B1.0%$15.83B
CRS$3.19B+10.2%$569.80M17.9%$13.79B
TX$15.61B-11.6%$425.23M2.7%$9.65B
GGBR$77.42B+3.5%R$1.39B1.8%$8.66B

ATI FAQ

9 questions
  • What is ATI revenue?
    ATI Inc. (ATI) reported $5.01B of revenue for the twelve months ended Sep 27, 2026. That is up 9.4% from the year before. Revenue for fiscal 2025 was $4.59B.
  • Is ATI profitable?
    Yes. ATI Inc. earned $555.60M in net income for the twelve months ended Sep 27, 2026, a net margin of 11.1%.
  • How much cash and debt does ATI have?
    ATI Inc. reported $442.30M in cash and cash equivalents and $1.86B of debt on its most recent balance sheet in SEC filings.
  • How fast is ATI revenue growing?
    ATI Inc.'s revenue changed +5.2% in fiscal 2025, to $4.59B. Its compound annual growth rate was +9.0% over 5 years.
  • What is ATI gross margin?
    ATI Inc.'s gross profit was $1.23B on $5.01B of revenue for the twelve months ended Sep 27, 2026, a gross margin of 24.5%.
  • What is ATI free cash flow?
    ATI Inc. generated $421.10M of free cash flow for the twelve months ended Sep 27, 2026, which is operating cash flow of $730.40M less capital expenditures.
  • What is ATI earnings per share?
    Diluted earnings per share were $4.01 for the twelve months ended Sep 27, 2026, from SEC filings, restated for any stock split those filings show.
  • When did ATI last report financial results?
    The latest statements here come from ATI Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 27, 2026.
  • Where does this ATI financial data come from?
    Quantisnow builds these statements from the structured XBRL data ATI Inc. files with the SEC. It is provided for information only and is not investment advice.