MARKETS / NYSE / ATI

NYSE · STEEL PIPE & TUBES · LARGE CAP

ATI Inc. ATI

19 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$4.6B

▲ 5.2% YoY

Net income

$404.3M

▲ 9.9% YoY

Free cash flow

$333.7M

▲ 98.5% YoY

In brief

What this company does

ATI Inc. produces specialty materials differentiated by its materials science expertise and advanced process technologies. In fiscal year 2025, its two business segments generated total revenues of $4.6 billion. Aerospace and defense, its largest end market, accounted for approximately 68% of total sales, led by products for jet engines and airframes in addition to a range of defense applications. It is headquartered at 2021 McKinney Avenue, Suite 1100, Dallas, Texas. As of December 28, 2025, it employed approximately 7,600 active employees, 15% of whom were located outside the United States across 15 countries. It operates in two business segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). Its HPMC segment produces high-performance materials, components and advanced metallic powder alloys made from nickel-based alloys and superalloys, titanium and titanium-based alloys, and other specialty materials.

Written from the business description in ATI INC's annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.

Growth

USD 4.6B

Revenue, FY2025 · full 19-year series below

Revenue $B Net income $B

FY2025 · Revenue 4.6 · Net income 0.4

Compound annual growth

Revenue

+6.1%

+9.0%

+2.1%

+0.8%

Net income

+7.7%

+12.3%

EPS, diluted

+8.5%

+9.6%

Returned to shareholders

+49.8%

+21.6%

+13.4%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +9.0% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

9 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 14.0% · Net 9.1%

ROE

FY2025 · ROE 22.1%

Gross margin22.0%

Operating margin14.0%

Net margin9.1%

Return on assets8.1%

EBITDAUSD 809.0M

Each USD of equity produced 22 cents of profit this year.

Cash & shareholders

USD 470.0M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 333.7

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 470.0

Dividends paid—

Net buybacksUSD 470.0M

Share of profit116.3%

Consecutive raises—

USD 470.0M in buybacks — 116% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 5.1B

EquityUSD 1.8B

CashUSD 416.7M

Gross debtUSD 1.7B

Net debtUSD 1.3B

Current ratio2.66×

Net debt stands at 74% of equity.

The 19-year record

19 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue $B	4.6	4.4	4.2	3.8	2.8	3.0	4.1	4.0	3.5	3.1	3.7	4.2	4.0	4.7	4.8	4.0	3.1	5.3	5.5
Operating income $B	0.6	0.6	0.5	0.3	0.1	−1.3	0.4	0.4	0.1	−0.5	−0.4	0.1	−0.1	0.3	0.4	0.2	0.1	0.9	1.2
EBITDA $B	0.8	0.8	0.6	0.5	0.3	−1.2	0.5	0.5	0.3	−0.4	−0.2	0.3	0.1	0.5	0.6	0.3	0.2	1.0	1.3
Income tax $B	0.1	0.1	−0.1	0.0	0.0	0.1	−0.0	0.0	−0.0	−0.1	−0.1	−0.0	−0.1	0.1	0.1	0.0	0.0	0.3	0.4
Net income $B	0.4	0.4	0.4	0.3	0.2	−1.6	0.3	0.2	−0.1	−0.6	−0.4	−0.0	0.2	0.2	0.2	0.1	0.0	0.6	0.7
Free cash flow $B	0.3	0.2	−0.1	0.1	−0.1	0.0	0.1	0.3	−0.1	−0.2	−0.0	−0.2	−0.2	0.0	0.0	−0.2	−0.2	0.2	0.3
EPS, diluted $	2.85	2.55	2.81	2.23	1.32	−12.43	1.81	1.61	−0.83	−5.97	−3.53	−0.03	1.44	1.43	1.97	0.72	0.32	5.67	7.26
Dividend / sh $	·	·	·	·	·	·	·	0.00	0.00	0.24	0.62	0.72	0.72	0.72	0.72	0.72	0.72	0.72	0.57
Payout %	·	·	·	·	·	·	0	0	−0	−4	−18	−2965	50	48	35	100	223	13	8
ROE %	22.1	22.8	34.0	37.4	30.6	−120.5	12.7	12.3	−5.9	−37.3	−16.1	−0.1	5.7	6.4	9.5	3.5	1.6	28.9	·
Shares out B	0.14	0.14	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.11	0.11	0.11	0.11	0.11	0.11	0.10	0.10	0.10	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 85 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 3 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivitySteel Pipe & Tubes

Listed onNYSE

Incorporated inDelaware

Fiscal year endsDecember 28

Data on record since2007