HWM Howmet Aerospace Inc. Common Stock
$289.54
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$169–$310
85% of range
Analyst Rating
BUY
28 analysts
Price Target
$335
+16% upside
P/E (TTM)
78.0
ROE
29.0%
Net Profit Margin
18.3%
About Howmet Aerospace Inc. Common Stock Company overview from Wikipedia
Howmet Aerospace Inc. is an American aerospace company based in Pittsburgh, Pennsylvania. The company manufactures components for jet engines, fasteners, titanium structures for aerospace applications, and forged aluminum wheels for heavy trucks.
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Howmet Aerospace Inc. is an American aerospace company based in Pittsburgh, Pennsylvania. The company manufactures components for jet engines, fasteners, titanium structures for aerospace applications, and forged aluminum wheels for heavy trucks.
The firm operates 27 facilities in the United States, Canada, Mexico, France, the United Kingdom, China, Brazil, Hungary and Japan.
History
Before Alcoa acquisition
Howmet's roots go back to 1926, when Austenal, a company that manufactured materials for dental appliances, was founded. Its founders, Reiner Erdle and Charles Prange, worked to improve investment chrome base castings using two separate investments: The first coating, named "protective coat", gives a smooth finish. It was smothered with alcohol binder investment to obtain a correct expansion. This technology replaced gold alloy with vitallium and was popular during the Great Depression.
During the 1930s, Austenal expanded into aircraft engine superchargers with superior castings when General Electric asked for help to improve manufacturing practices for wartime production demands.
In 1958, Howe Sound Company, a metals and mining business, acquired Austenal. In 1959, Howe acquired Michigan Steel Casting Co. (MISCO), which provided the monolithic shell process. This process uses a ceramic shell with thin, strong walls to increase control of the solidification process and produce a sounder casting.
Howe became Howmet in 1965, marking a transition from a mining company to a manufacturer of precision metal products. Howmet, in turn, was purchased in 1975 by Pechiney, a multinational aluminum company. In 1989, Pechiney purchased the Cercast group of companies, bringing Howmet into the aluminum casting industry.
In 1995, Pechiney sold Howmet to a joint venture between Thiokol and The Carlyle Group. By late 1997, the ownership structure of Howmet had become Thiokol, with 62% ownership, Carlyle 23%, and the public 15%. In 1998, Thiokol changed its name to Cordant Technologies Inc.; by February 1999, Cordant owned 84.7% of Howmet.
As Alcoa Inc. and Arconic Inc.
In 2000, Cordant sold its stake in Howmet to Alcoa, which placed Howmet into its Alcoa Industrial Components unit. In 2004, Howmet was part of a merger that created Alcoa Investment Casting and Forged Products unit. In 2007, Howmet was renamed Alcoa Howmet as a newly formed Alcoa Power and Propulsion unit division.
On November 1, 2016, Alcoa Inc. spun off its bauxite, alumina, and aluminum operations to a new company called Alcoa Corp. Alcoa Inc. was renamed Arconic Inc., and retained the operations in aluminum rolling (excluding the Warrick operations), aluminum plate, precision castings, and aerospace and industrial fasteners. Its focus became turning aluminum and other lightweight metals into engineered products such as turbine blades for sectors including aerospace and automotive.
On January 31, 2017, the hedge fund Elliott Management Corporation launched a proxy contest against Arconic. Elliott publicly called for firing Arconic's CEO, Klaus Kleinfeld, citing the company's lackluster stock performance, missed profit forecasts, and inefficient spending. On April 17, 2017, Kleinfeld resigned as chairman and CEO by mutual agreement with the board of Arconic, after sending an unauthorized letter to Elliott.
On February 8, 2019, Arconic announced that it would split into two separate businesses. Arconic Inc. would be renamed Howmet Aerospace Inc. and a new company, Arconic Corporation, would be set up and spun out. Arconic Corporation will be focused on rolled aluminum products, and Howmet Aerospace will focus on engineered products. The separation was scheduled to become effective on April 1, 2020.
In 2024, during the Gaza war, Howmet's Pittsburgh headquarters were targeted by pro-Palestinian protestors--Howmet produces titanium components used in Lockheed Martin fighter jets that have been sold to Israel.
In December 2025, it was announced that Howmet Aerospace had agreed to acquire Stanley Black & Decker's aerospace business, Consolidated Aerospace Manufacturing, for US$1.8 billion in cash. The transaction was expected to close in the first half of 2026, subject to customary closing conditions.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
HWM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$289.54
Market Cap
$116.28B
P/E (TTM)
78.0
EPS (TTM)
$3.71
Revenue (TTM)
$8.25B
Div Yield
—
ROE
29.0%
Debt/Equity
0.6
52W Range
$169 – $310
HWM Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$8.25B
2016-12-31
→
2025-12-31
EPS
$3.71
2016-12-31
→
2025-12-31
Free Cash Flow
$1.43B
2016-12-31
→
2025-12-31
Margins
18.3%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
HWM
Peer Median
P/E (TTM)
78.0
36.9
P/S (TTM)
14.1
4.9
P/B
21.7
11.4
EV / EBITDA
50.9
—
Price / FCF
81.3
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
HWM
Peer Median
Operating Margin
24.8%
—
Net Profit Margin
18.3%
9.5%
ROA
13.9%
7.9%
ROE
29.0%
30.6%
ROIC
20.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
HWM
Peer Median
Debt / Equity
0.6
—
Current Ratio
2.1
1.3
Quick Ratio
0.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
HWM
Peer Median
Revenue YoY
11.1%
—
Revenue CAGR 3Y
13.4%
—
Revenue CAGR 5Y
9.4%
—
EPS YoY
32.0%
—
Net Income YoY
30.6%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
HWM
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Aug. 7, 2026 | $0.1400 |
| May 8, 2026 | $0.1200 |
| Feb. 6, 2026 | $0.1200 |
| Nov. 7, 2025 | $0.1200 |
| Aug. 8, 2025 | $0.1200 |
| May 9, 2025 | $0.1000 |
| Feb. 7, 2025 | $0.1000 |
| Nov. 8, 2024 | $0.0800 |
| Aug. 9, 2024 | $0.0800 |
| May 9, 2024 | $0.0500 |
| Feb. 8, 2024 | $0.0500 |
| Nov. 9, 2023 | $0.0500 |
| Aug. 3, 2023 | $0.0400 |
| May 4, 2023 | $0.0400 |
| Feb. 9, 2023 | $0.0400 |
| Nov. 3, 2022 | $0.0400 |
| Aug. 4, 2022 | $0.0200 |
| May 5, 2022 | $0.0200 |
| Feb. 3, 2022 | $0.0200 |
| Nov. 4, 2021 | $0.0200 |
HWM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
28 analysts
- Strong Buy 9 32.1%
- Buy 14 50.0%
- Hold 5 17.9%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
20 analysts · 2026-08-17
Median
$340.00
Now
$289.54
Low
$256.56
High
$375.00
Median target
$340.00
+17.4%
Mean target
$335.33
+15.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.06%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.33 | $1.26 | 0.07% |
| March 31, 2026 | $1.22 | $1.12 | 0.10% |
| Dec. 31, 2025 | $1.05 | $0.98 | 0.07% |
| Sept. 30, 2025 | $0.95 | $0.92 | 0.03% |
| June 30, 2025 | $0.91 | $0.88 | 0.03% |
| March 31, 2025 | $0.86 | $0.79 | 0.07% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| HWM | $82.34B | 55.3 | 11.1% | 18.3% | 29.0% | — |
| GE | $323.05B | 37.8 | 18.5% | 19.0% | 45.8% | — |
| RTX | — | 37.0 | 9.7% | 7.6% | 10.7% | — |
| BA | $219.78B | 87.5 | 34.5% | 2.5% | 289.1% | 4.8% |
| LMT | $110.76B | 22.5 | 5.6% | 6.7% | 83.2% | 10.2% |
| GD | $91.03B | 21.8 | 10.1% | 8.0% | 17.1% | — |
| NOC | $80.97B | 19.6 | 2.2% | 10.0% | 26.4% | — |
| TDG | — | 41.1 | 11.2% | 23.5% | -26.0% | 60.1% |
| HONA | — | — | — | — | — | — |
| LHX | $56.89B | 35.7 | 9.8% | — | 8.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.25B | $7.43B | $6.64B | $5.66B | $4.97B | $5.26B | $7.10B | $6.78B | $12.96B | $12.39B | $12.41B | $12.54B | |
| Cost of Revenue | · | · | · | · | · | · | · | · | · | · | · | $19.14B | |
| R&D Expense | $37M | $33M | $36M | $32M | $17M | $17M | $28M | $41M | $109M | $130M | $169M | $123M | |
| SG&A Expense | $370M | $347M | $333M | $288M | $251M | $277M | $400M | $371M | $715M | $924M | $765M | $770M | |
| Operating Expenses | · | · | · | · | · | · | · | · | · | $11.98B | $12.23B | $12.43B | |
| Operating Income | $2.05B | $1.63B | $1.20B | $919M | $748M | $626M | $579M | $775M | $480M | $954M | $628M | · | |
| Interest Expense | · | · | $218M | $229M | $259M | $317M | $338M | $377M | $496M | $499M | $473M | $442M | |
| Interest Income | $20M | $20M | $23M | $6M | · | · | · | · | $19M | $16M | $16M | $19M | |
| Other Non-op | $1M | $0 | $3M | $2M | $7M | $-46M | $1M | $38M | $103M | $85M | $18M | $5M | |
| Pretax Income | $1.84B | $1.38B | $975M | $606M | $324M | $171M | $210M | $428M | $470M | $414M | $183M | $113M | |
| Income Tax | $332M | $228M | $210M | $137M | $66M | $-40M | $84M | $119M | $544M | $1.48B | $339M | $174M | |
| Net Income | $1.51B | $1.16B | $765M | $469M | $258M | $261M | $470M | $642M | $-74M | $-941M | $-322M | $268M | |
| EPS (Basic) | $3.73 | $2.83 | $1.85 | $1.12 | $0.60 | · | $1.05 | $1.33 | $-0.28 | $-2.31 | $-0.93 | $0.64 | |
| EPS (Diluted) | $3.71 | $2.81 | $1.83 | $1.11 | $0.59 | · | $1.03 | $1.30 | $-0.28 | $-2.31 | $-0.93 | $0.63 | |
| Shares (Basic) | 404,000,000 | 408,000,000 | 412,000,000 | 416,000,000 | 430,000,000 | 435,000,000 | 446,000,000 | 483,000,000 | 451,000,000 | 438,000,000 | 420,000,000 | 387,000,000 | |
| Shares (Diluted) | 406,000,000 | 410,000,000 | 416,000,000 | 421,000,000 | 435,000,000 | 439,000,000 | 463,000,000 | 503,000,000 | 451,000,000 | 438,000,000 | 420,000,000 | 393,000,000 | |
| EBITDA | $2.33B | $1.91B | $1.48B | $1.18B | $1.02B | $964M | $1.57B | $1.90B | $877M | $1.13B | $1.28B | $1.37B |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $742M | $564M | $610M | $791M | $720M | $1.61B | $1.58B | $2.28B | $2.15B | $1.86B | $1.92B | $1.88B | |
| Receivables | $779M | $689M | $675M | $506M | $367M | $328M | $583M | $1.05B | $1.03B | $974M | $960M | $1.40B | |
| Inventory | $1.85B | $1.84B | $1.76B | $1.61B | $1.40B | $1.49B | $1.61B | $2.49B | $2.48B | $2.25B | $2.28B | $3.08B | |
| Prepaid Expense | $409M | $249M | $249M | $206M | $195M | $217M | $285M | $314M | $374M | $325M | $397M | $761M | |
| Current Assets | $3.78B | $3.36B | $3.32B | $3.14B | $2.74B | $3.67B | $5.84B | $6.58B | $6.38B | $5.89B | $7.95B | $7.85B | |
| PP&E (Net) | $2.59B | $2.39B | $2.33B | $2.33B | $2.47B | $2.59B | $2.63B | $5.70B | $5.59B | $5.50B | $5.42B | $16.43B | |
| PP&E (Gross) | · | · | $5.18B | $5.01B | $5.06B | $5.01B | $4.66B | $11.73B | $11.37B | $10.79B | $10.75B | $34.05B | |
| Accum. Depreciation | · | · | $3.08B | $2.86B | $2.77B | $2.63B | $2.45B | $6.77B | $6.39B | $6.07B | $6.14B | $19.09B | |
| Goodwill | $4.02B | $4.01B | $4.04B | $4.01B | $4.07B | $4.10B | $4.07B | $4.19B | $4.54B | $5.15B | $5.25B | $5.09B | |
| Intangibles | $457M | $475M | $505M | $521M | $549M | $571M | $599M | $919M | $987M | $988M | $1.91B | $1.65B | |
| Other Non-current Assets | $288M | $251M | $198M | $192M | $215M | $234M | $316M | $416M | $481M | $257M | $1.94B | $2.76B | |
| Total Assets | $11.18B | $10.52B | $10.43B | $10.26B | $10.22B | $11.44B | $17.56B | $18.69B | $18.72B | $20.04B | $36.48B | $37.36B | |
| Accounts Payable | $845M | $948M | $982M | $962M | $732M | $599M | $976M | $2.13B | $1.84B | $1.74B | $1.51B | $3.15B | |
| Short-term Debt | $0 | $0 | · | $0 | $5M | $376M | $1.03B | $434M | $38M | $40M | $38M | $54M | |
| Current Liabilities | $1.77B | $1.55B | $1.78B | $1.48B | $1.25B | $1.66B | $4.12B | $3.52B | $2.82B | $2.75B | $5.21B | $5.46B | |
| Capital Leases | $121M | $119M | $97M | $83M | $81M | $100M | $98M | · | · | · | · | · | |
| Total Liabilities | $5.83B | $5.96B | $6.39B | $6.65B | $6.71B | $7.87B | $12.96B | $13.11B | $13.79B | $14.90B | $22.35B | $22.57B | |
| Long-term Debt | $3.05B | $3.31B | $3.71B | $4.16B | $4.23B | $5.08B | $5.94B | $6.30B | $6.81B | $8.05B | $8.79B | $8.80B | |
| Total Debt | $3.05B | $3.31B | $3.71B | $4.16B | $4.24B | $5.45B | $6.94B | $6.74B | $6.84B | $8.08B | $9.10B | $8.85B | |
| Common Stock | $402M | $405M | $410M | $412M | $422M | $433M | $433M | $483M | $481M | $438M | $1.39B | $1.30B | |
| Paid-in Capital | $2.53B | $3.21B | $3.68B | $3.95B | $4.29B | $4.67B | $7.32B | $8.32B | $8.27B | $8.21B | $10.02B | $9.28B | |
| Retained Earnings | $4.09B | $2.77B | $1.72B | $1.03B | $603M | $364M | $113M | $-358M | $-1.25B | $-1.03B | $8.83B | $9.38B | |
| Treasury Stock | · | · | · | · | · | · | · | $0 | $0 | $0 | $2.83B | $3.04B | |
| AOCI | $-1.67B | $-1.88B | $-1.83B | $-1.84B | $-1.86B | $-1.94B | $-3.33B | $-2.93B | $-2.64B | $-2.57B | $-5.43B | $-4.68B | |
| Stockholders' Equity | $5.35B | $4.55B | $4.04B | $3.60B | $3.51B | $3.58B | $4.59B | $5.57B | $4.91B | $5.12B | $12.05B | $12.31B | |
| Liabilities + Equity | $11.18B | $10.52B | $10.43B | $10.26B | $10.22B | $11.44B | $17.56B | $18.69B | $18.72B | $20.04B | $36.48B | $37.36B | |
| Shares Outstanding | 401,620,565 | 405,000,000 | 410,000,000 | 412,155,057 | 421,691,912 | 432,906,377 | 432,855,183 | 483,270,717 | 481,416,537 | 438,519,780 | 1,310,160,141 | 1,216,663,661 |
Cash Flow 19
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $283M | $277M | $272M | $265M | $270M | $338M | $536M | $576M | $551M | $1.13B | $1.28B | $1.37B | |
| Stock-based Comp | $73M | $63M | $50M | $54M | $40M | $46M | $69M | $40M | $54M | $76M | $77M | $87M | |
| Deferred Tax | $17M | $56M | $109M | $81M | $38M | $-38M | $-2M | $51M | $448M | $1.34B | $225M | $-35M | |
| Amort. of Intangibles | $32M | $33M | $35M | $36M | $36M | $40M | $58M | $58M | $71M | $65M | $67M | $55M | |
| Restructuring | · | · | · | $56M | $90M | $182M | $582M | $163M | $165M | $155M | $214M | $314M | |
| Other Non-cash | $3M | $-253M | $-295M | $-136M | $-157M | $-598M | $-666M | $-1.09B | $-278M | $-532M | $498M | $-18M | |
| Operating Cash Flow | $1.88B | $1.30B | $901M | $733M | $449M | $9M | $461M | $217M | $-39M | $95M | $1.58B | $1.67B | |
| CapEx | $453M | $321M | $219M | $193M | $199M | $267M | $641M | $768M | $596M | $1.12B | $1.18B | $1.22B | |
| Investing Cash Flow | $-438M | $-316M | $-215M | $-135M | $107M | $271M | $528M | $565M | $1.32B | $591M | · | · | |
| Debt Issued | $500M | $500M | $400M | $0 | $700M | $2.40B | $400M | $600M | $816M | $1.96B | $1.90B | $2.88B | |
| Net Debt Issued | $-265M | $-365M | $-476M | $-69M | $-838M | $357M | $-406M | $-503M | $-818M | $-772M | $-129M | $1.16B | |
| Stock Repurchased | $700M | $500M | $250M | $400M | $430M | $73M | $1.15B | $0 | $0 | · | · | · | |
| Net Stock Activity | $-700M | $-500M | $-250M | $-400M | $-430M | $-73M | $-1.15B | · | · | · | · | · | |
| Dividends Paid | · | · | · | · | · | · | · | · | · | · | $223M | $161M | |
| Financing Cash Flow | $-1.27B | $-1.03B | $-868M | $-526M | $-1.44B | $-369M | $-1.57B | $-649M | $-1.01B | $-757M | · | · | |
| Net Change in Cash | $178M | $-45M | $-182M | $70M | $-889M | $-92M | $-579M | $129M | $275M | $-56M | $42M | $440M | |
| Taxes Paid | $312M | $177M | $104M | $50M | $53M | $-33M | $122M | $74M | $118M | $324M | $345M | $301M | |
| Free Cash Flow | $1.43B | $977M | $682M | $540M | $250M | $-258M | $-180M | $-551M | $105M | $-255M | $402M | $455M | |
| Levered FCF | · | · | $511M | $363M | $44M | $-728M | $-456M | $-831M | $183M | $1.03B | $798M | $287M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 24.8% | 22.0% | 18.1% | 16.2% | 15.0% | 11.9% | 7.3% | 9.4% | 2.5% | · | · | · | |
| Net Margin | 18.3% | 15.6% | 11.5% | 8.3% | 5.2% | 5.0% | 3.3% | 4.6% | -0.57% | -7.6% | -1.4% | 1.1% | |
| Pretax Margin | 22.3% | 18.6% | 14.7% | 10.7% | 6.5% | 3.2% | 4.0% | 6.2% | 3.6% | 3.3% | 1.1% | 2.1% | |
| EBITDA Margin | 28.2% | 25.7% | 22.2% | 20.9% | 20.5% | 18.3% | 11.1% | 13.6% | 6.8% | 9.1% | 5.7% | 5.7% | |
| ROA | 13.9% | 11.0% | 7.4% | 4.6% | 2.4% | 1.8% | 2.6% | 3.4% | -0.38% | -3.3% | -0.87% | 0.73% | |
| ROE | 29.0% | 25.5% | 19.4% | 13.7% | 7.3% | 6.4% | 9.2% | 12.2% | -1.5% | -11.0% | -2.6% | 2.3% | |
| ROIC | 20.0% | 17.3% | 12.2% | 9.2% | 7.7% | 8.6% | 7.3% | 8.0% | -0.44% | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.1 | 2.2 | 1.9 | 2.1 | 2.2 | 2.2 | 1.4 | 1.9 | 2.3 | 2.1 | 1.5 | 1.5 | |
| Quick Ratio | 0.9 | 0.8 | 0.7 | 0.9 | 0.9 | 1.2 | 0.6 | 0.9 | 1.1 | 1.0 | 0.6 | 0.6 | |
| Debt / Equity | 0.6 | 0.7 | 0.9 | 1.2 | 1.2 | 1.5 | 1.5 | 1.2 | 1.4 | 1.6 | 0.8 | 0.7 | |
| LT Debt / Equity | 0.5 | 0.7 | 0.9 | 1.2 | 1.2 | 1.3 | 1.1 | 1.1 | 1.4 | 1.6 | 0.8 | 0.7 | |
| Interest Coverage | · | · | 5.5 | 4.0 | 2.9 | 1.6 | 3.1 | 3.5 | 0.7 | · | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.8 | 0.7 | 0.6 | 0.6 | 0.5 | 0.4 | 0.8 | 0.7 | 0.7 | 0.4 | 0.6 | 0.7 | |
| Inventory Turnover | · | · | · | · | · | · | · | · | · | · | · | 6.6 | |
| Receivables Turnover | 11.2 | 10.9 | 11.2 | 13.0 | 14.3 | 11.5 | 14.1 | 13.5 | 12.9 | 12.8 | 16.5 | 18.3 |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 11.1% | 11.9% | 17.2% | 13.9% | -5.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 13.4% | 14.3% | 8.1% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 9.4% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 32.0% | 53.5% | 64.9% | 88.1% | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 49.5% | 68.2% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 30.6% | 51.0% | 63.1% | 81.8% | -1.1% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 47.6% | 64.8% | 43.1% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 42.0% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $8.25B | $7.43B | $6.64B | $5.66B | $4.97B | $5.26B | $7.10B | $6.78B | $12.96B | $12.39B | $12.41B | $12.54B | |
| Net Income TTM | $1.51B | $1.16B | $765M | $469M | $258M | $261M | $470M | $642M | $-74M | $-941M | $-322M | $268M | |
| Market Cap | $82.34B | $44.34B | $22.18B | $16.24B | $13.42B | $12.36B | $10.21B | $6.25B | $10.06B | $6.23B | · | · | |
| Enterprise Value | $84.65B | $47.09B | $25.28B | $19.61B | $16.94B | $16.20B | $15.51B | $10.71B | $14.76B | $12.46B | · | · | |
| P/E | 55.3 | 38.9 | 29.6 | 35.5 | 53.9 | 25.3 | 22.9 | 9.9 | -74.6 | -6.2 | · | · | |
| P/S | 10.0 | 6.0 | 3.3 | 2.9 | 2.7 | 2.3 | 1.4 | 0.9 | 0.8 | 0.5 | · | · | |
| P/B | 15.4 | 9.7 | 5.5 | 4.5 | 3.8 | 3.5 | 2.2 | 1.1 | 2.0 | 1.2 | · | · | |
| P / Tangible Book | 94.2 | 642.6 | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | 43.7 | 34.2 | 24.6 | 22.2 | 29.9 | 1372.8 | 25.2 | 28.8 | 14.4 | 7.2 | · | · | |
| P / FCF | 57.5 | 45.4 | 32.5 | 30.1 | 53.7 | -47.9 | -56.7 | -11.3 | 95.8 | -24.5 | · | · | |
| EV / EBITDA | 36.3 | 24.7 | 17.1 | 16.6 | 16.6 | 16.8 | 9.9 | 5.6 | 16.8 | 11.0 | · | · | |
| EV / FCF | 59.2 | 48.2 | 37.1 | 36.3 | 67.8 | -62.8 | -86.2 | -19.4 | 140.5 | -48.8 | · | · | |
| EV / Revenue | 10.3 | 6.3 | 3.8 | 3.5 | 3.4 | 3.1 | 2.2 | 1.6 | 1.1 | 1.0 | · | · | |
| Earnings Yield | 1.8% | 2.6% | 3.4% | 2.8% | 1.8% | 4.0% | 4.4% | 10.1% | -1.3% | -16.2% | · | · | |
| Payout Ratio | · | · | · | · | · | · | · | · | · | · | -69.2% | 60.1% | |
| Annual Payout | · | · | · | · | · | · | · | · | · | · | $223M | $161M |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.55B | $2.31B | $2.17B | $2.09B | $2.05B | $1.94B | $1.89B | $1.83B | $1.88B | $1.82B | $1.73B | $1.66B | $1.65B | $1.60B | $1.51B | $1.43B | |
| R&D Expense | $8M | $9M | $10M | $10M | $9M | $8M | $7M | $9M | $7M | $10M | $9M | $9M | $9M | $9M | $9M | $7M | |
| SG&A Expense | $148M | $111M | $96M | $100M | $89M | $85M | $77M | $85M | $97M | $88M | $83M | $87M | $88M | $75M | $63M | $73M | |
| Operating Income | $711M | $753M | $489M | $542M | $521M | $494M | $445M | $421M | $398M | $369M | $326M | $307M | $285M | $285M | $220M | $228M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $49M | · | $54M | $55M | $57M | · | $57M | |
| Other Non-op | $1M | $-2M | $10M | $0 | $0 | $-9M | $16M | $0 | $1M | $-17M | $-17M | $1M | $26M | $-7M | $68M | $-65M | |
| Pretax Income | $649M | $708M | $430M | $495M | $469M | $446M | $392M | $354M | $334M | $303M | $270M | $242M | $243M | $220M | $148M | $104M | |
| Income Tax | $115M | $128M | $58M | $110M | $62M | $102M | $78M | $22M | $68M | $60M | $34M | $54M | $50M | $72M | $37M | $24M | |
| Net Income | $534M | $580M | $372M | $385M | $407M | $344M | $314M | $332M | $266M | $243M | $236M | $188M | $193M | $148M | $111M | $80M | |
| EPS (Basic) | $1.33 | $1.45 | $0.91 | $0.96 | $1.01 | $0.85 | $0.78 | $0.81 | $0.65 | $0.59 | $0.57 | $0.45 | $0.47 | $0.36 | $0.27 | $0.19 | |
| EPS (Diluted) | $1.33 | $1.44 | $0.92 | $0.95 | $1.00 | $0.84 | $0.76 | $0.81 | $0.65 | $0.59 | $0.57 | $0.45 | $0.46 | $0.35 | $0.26 | $0.19 | |
| Shares (Basic) | 400,000,000 | 401,000,000 | -808,000,000 | 403,000,000 | 404,000,000 | 405,000,000 | -818,000,000 | 408,000,000 | 408,000,000 | 410,000,000 | -825,000,000 | 412,000,000 | 413,000,000 | 412,000,000 | -835,000,000 | 415,000,000 | |
| Shares (Diluted) | 402,000,000 | 403,000,000 | -812,000,000 | 405,000,000 | 406,000,000 | 407,000,000 | -823,000,000 | 410,000,000 | 411,000,000 | 412,000,000 | -834,000,000 | 415,000,000 | 417,000,000 | 418,000,000 | -846,000,000 | 420,000,000 | |
| EBITDA | $711M | $827M | · | $542M | $521M | $563M | · | $421M | $398M | $436M | · | $307M | $285M | $354M | · | $228M |
Balance Sheet 26
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $563M | $2.44B | $742M | $659M | $545M | $536M | $564M | $475M | $752M | $533M | · | $424M | $535M | $537M | · | $453M | |
| Receivables | $1.04B | $940M | $779M | $884M | $888M | $888M | $689M | $757M | $749M | $785M | · | $714M | $657M | $655M | · | $550M | |
| Inventory | $2.18B | $1.98B | $1.85B | $1.98B | $1.96B | $1.90B | $1.84B | $1.90B | $1.85B | $1.78B | · | $1.75B | $1.72B | $1.66B | · | $1.61B | |
| Prepaid Expense | $407M | $307M | $392M | $289M | $283M | $215M | $249M | $239M | $235M | $221M | · | $212M | $207M | $187M | · | $181M | |
| Current Assets | $4.19B | $5.66B | $3.78B | $3.82B | $3.69B | $3.55B | $3.36B | $3.39B | $3.60B | $3.34B | · | $3.11B | $3.13B | $3.06B | · | $2.85B | |
| PP&E (Net) | $2.82B | $2.61B | $2.59B | $2.55B | $2.53B | $2.44B | $2.39B | $2.36B | $2.31B | $2.29B | · | $2.30B | $2.32B | $2.32B | · | $2.29B | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | $5.21B | $5.18B | · | $5.09B | $5.09B | $5.07B | · | $4.89B | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | $3.14B | $3.10B | · | $2.99B | $2.96B | $2.92B | · | $2.77B | |
| Goodwill | $5.08B | $4.08B | $4.02B | $4.06B | $4.07B | $4.03B | $4.01B | $4.05B | $4.02B | $4.02B | $4.04B | $4.01B | $4.03B | $4.02B | $4.01B | $3.96B | |
| Intangibles | $869M | $451M | $457M | $462M | $467M | $470M | $475M | $484M | $489M | $498M | · | $507M | $513M | $518M | · | $523M | |
| Other Non-current Assets | $240M | $232M | $288M | $251M | $263M | $248M | $251M | $239M | $232M | $220M | · | $200M | $195M | $195M | · | $201M | |
| Total Assets | $13.25B | $13.07B | $11.18B | $11.18B | $11.05B | $10.77B | $10.52B | $10.56B | $10.68B | $10.41B | · | $10.17B | $10.23B | $10.17B | · | $9.93B | |
| Accounts Payable | $1.15B | $1.06B | $845M | $957M | $1.03B | $991M | $948M | $917M | $971M | $964M | · | $894M | $881M | $877M | · | $812M | |
| Short-term Debt | $450M | $450M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | · | · | · | · | · | $1M | |
| Current Liabilities | $2.31B | $2.31B | $1.77B | $1.62B | $1.60B | $1.55B | $1.55B | $1.52B | $2.36B | $1.70B | · | $1.45B | $1.41B | $1.40B | · | $1.38B | |
| Capital Leases | $117M | $118M | $121M | $122M | $129M | $120M | $119M | $122M | $121M | $112M | · | $83M | $77M | $79M | · | $80M | |
| Total Liabilities | $7.52B | $7.54B | $5.83B | $6.03B | $6.00B | $5.98B | $5.96B | $6.05B | $6.40B | $6.32B | · | $6.29B | $6.46B | $6.41B | · | $6.66B | |
| Long-term Debt | $4.05B | $4.24B | $3.05B | $3.19B | $3.26B | $3.32B | $3.31B | $3.39B | $3.66B | $3.69B | · | $3.79B | $3.99B | · | · | $4.17B | |
| Total Debt | $4.50B | $4.69B | · | $3.19B | $3.26B | $3.32B | · | $3.39B | $3.66B | $3.69B | · | · | · | $3.99B | · | $4.17B | |
| Common Stock | $400M | $401M | $402M | $403M | $404M | $404M | $405M | $407M | $408M | $408M | · | $412M | $412M | $412M | · | $414M | |
| Paid-in Capital | $1.92B | $2.19B | $2.53B | $2.72B | $2.90B | $3.10B | $3.21B | $3.39B | $3.49B | $3.54B | · | $3.77B | $3.78B | $3.94B | · | $4.00B | |
| Retained Earnings | $5.11B | $4.62B | $4.09B | $3.72B | $3.43B | $3.07B | $2.77B | $2.45B | $2.19B | $1.94B | · | $1.49B | $1.33B | $1.16B | · | $917M | |
| AOCI | $-1.70B | $-1.69B | $-1.67B | $-1.75B | $-1.75B | $-1.83B | $-1.88B | $-1.80B | $-1.86B | $-1.86B | · | $-1.85B | $-1.81B | $-1.81B | · | $-2.11B | |
| Stockholders' Equity | $5.73B | $5.52B | $5.35B | $5.14B | $5.04B | $4.79B | $4.55B | $4.50B | $4.28B | $4.09B | $4.04B | $3.87B | $3.77B | $3.76B | $3.60B | $3.27B | |
| Liabilities + Equity | $13.25B | $13.07B | $11.18B | $11.18B | $11.05B | $10.77B | $10.52B | $10.56B | $10.68B | $10.41B | · | $10.17B | $10.23B | $10.17B | · | $9.93B | |
| Shares Outstanding | 400,000,000 | 401,000,000 | 401,620,565 | 403,000,000 | 404,000,000 | 404,000,000 | 405,000,000 | 407,129,690 | 407,883,027 | 408,169,673 | 410,000,000 | 412,000,000 | 412,000,000 | 412,000,000 | 412,000,000 | 414,000,000 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $84M | $74M | $73M | $72M | $69M | $69M | $73M | $68M | $69M | $67M | $68M | $68M | $67M | $69M | $67M | $65M | |
| Stock-based Comp | · | · | · | · | · | · | · | · | · | · | $11M | $13M | · | · | $11M | $14M | |
| Restructuring | · | · | · | $0 | $0 | $-4M | · | $-1M | $22M | $0 | · | $4M | $3M | $1M | · | $4M | |
| Other Non-cash | · | $-201M | · | · | · | $-160M | · | · | · | $-133M | · | · | · | $-194M | · | · | |
| Operating Cash Flow | $583M | $453M | $654M | $531M | $446M | $253M | $480M | $244M | $397M | $177M | $458M | $191M | $229M | $23M | $455M | $65M | |
| CapEx | $104M | $94M | $124M | $108M | $102M | $119M | $102M | $82M | $55M | $82M | $55M | $59M | $41M | $64M | $45M | $42M | |
| Investing Cash Flow | $-1.91B | $14M | $-122M | $-104M | $-97M | $-115M | $-107M | $-80M | $-54M | $-75M | $-52M | $-58M | $-41M | $-64M | $-29M | $-41M | |
| Debt Issued | $0 | $1.20B | $500M | $0 | $0 | $0 | $0 | · | · | · | $400M | · | · | · | $0 | · | |
| Net Debt Issued | · | $1.20B | · | · | · | $-1M | · | · | · | $0 | · | · | · | $-176M | · | · | |
| Stock Repurchased | $300M | $300M | $200M | $200M | $175M | $125M | $190M | $100M | $60M | $150M | $100M | $25M | $100M | $25M | $65M | $100M | |
| Net Stock Activity | · | $-300M | · | · | · | $-125M | · | · | · | $-150M | · | · | · | $-25M | · | $-100M | |
| Financing Cash Flow | $-541M | $1.23B | $-449M | $-314M | $-339M | $-167M | $-284M | $-441M | $-123M | $-178M | $-222M | $-243M | $-189M | $-214M | $-89M | $-106M | |
| Net Change in Cash | $-1.87B | $1.69B | $83M | $114M | $9M | $-28M | $90M | $-277M | $218M | $-76M | $185M | $-111M | $-2M | $-254M | $338M | $-84M | |
| Free Cash Flow | · | $359M | · | · | · | $134M | · | · | · | $95M | · | · | · | $-41M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $56M | · | · | · | $-79M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 27.9% | 32.6% | · | 25.9% | 25.4% | 25.4% | · | 22.9% | 21.2% | 20.2% | · | 18.5% | 17.3% | 17.8% | · | 15.9% | |
| Net Margin | 21.0% | 25.1% | · | 18.4% | 19.8% | 17.7% | · | 18.1% | 14.1% | 13.3% | · | 11.3% | 11.7% | 9.2% | · | 5.6% | |
| Pretax Margin | 25.5% | 30.6% | · | 23.7% | 22.8% | 23.0% | · | 19.3% | 17.8% | 16.6% | · | 14.6% | 14.8% | 13.7% | · | 7.3% | |
| EBITDA Margin | 27.9% | 35.8% | · | 25.9% | 25.4% | 29.0% | · | 22.9% | 21.2% | 23.9% | · | 18.5% | 17.3% | 22.1% | · | 15.9% | |
| ROA | 4.4% | 4.9% | · | 3.5% | 3.8% | 3.2% | · | 3.2% | 2.5% | 2.4% | · | 1.9% | 1.9% | 1.5% | · | 0.79% | |
| ROE | 9.9% | 11.2% | · | 8.0% | 8.7% | 7.8% | · | 7.9% | 6.6% | 6.2% | · | 5.3% | 5.4% | 4.1% | · | 2.3% | |
| ROIC | 5.7% | 6.0% | · | 5.1% | 5.5% | 4.7% | · | 5.0% | 4.0% | 3.8% | · | 6.2% | 6.0% | 2.5% | · | 2.4% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | 2.4 | · | 2.4 | 2.3 | 2.3 | · | 2.2 | 1.5 | 2.0 | · | 2.1 | 2.2 | 2.2 | · | 2.1 | |
| Quick Ratio | 0.7 | 1.5 | · | 0.9 | 0.9 | 0.9 | · | 0.8 | 0.6 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 0.7 | |
| Debt / Equity | 0.8 | 0.8 | · | 0.6 | 0.6 | 0.7 | · | 0.8 | 0.9 | 0.9 | · | · | · | 1.1 | · | 1.3 | |
| LT Debt / Equity | 0.7 | 0.7 | · | 0.6 | 0.6 | 0.7 | · | 0.8 | 0.7 | 0.9 | · | · | · | 1.1 | · | 1.3 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 7.5 | · | 5.7 | 5.2 | 5.0 | · | 4.0 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.1 | |
| Receivables Turnover | 2.6 | 2.5 | · | 2.5 | 2.5 | 2.3 | · | 2.5 | 2.7 | 2.5 | · | 2.6 | 2.8 | 2.8 | · | 3.0 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.00B | $8.40B | · | $7.92B | $7.71B | $7.48B | · | $7.20B | $7.01B | $6.73B | · | $6.34B | $6.08B | $5.75B | · | $5.43B | |
| Net Income TTM | $1.91B | $1.72B | · | $1.47B | $1.35B | $1.19B | · | $1.03B | $890M | $772M | · | $609M | $568M | $506M | · | $385M | |
| Market Cap | $107.54B | $92.41B | · | $79.08B | $75.20B | $52.41B | · | $40.81B | $31.66B | $27.93B | · | $19.05B | $20.42B | $17.46B | · | $12.81B | |
| Enterprise Value | $111.48B | $94.67B | · | $81.61B | $77.91B | $55.20B | · | $43.73B | $34.57B | $31.09B | · | · | · | $20.91B | · | $16.52B | |
| P/E | 57.0 | 54.5 | · | 54.5 | 56.4 | 44.9 | · | 40.1 | 36.1 | 37.0 | · | 31.9 | 36.7 | 35.3 | · | 34.0 | |
| P/S | 11.9 | 11.0 | · | 10.0 | 9.8 | 7.0 | · | 5.7 | 4.5 | 4.1 | · | 3.0 | 3.4 | 3.0 | · | 2.4 | |
| P/B | 18.8 | 16.7 | · | 15.4 | 14.9 | 10.9 | · | 9.1 | 7.4 | 6.8 | · | 4.9 | 5.4 | 4.6 | · | 3.9 | |
| P / Tangible Book | · | 93.1 | · | 126.9 | 147.4 | 178.3 | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | · | 204.0 | · | · | · | 207.2 | · | · | · | 157.8 | · | · | · | 759.0 | · | · | |
| P / FCF | · | 257.4 | · | · | · | 391.1 | · | · | · | 294.0 | · | · | · | -425.8 | · | · | |
| EV / EBITDA | 156.8 | 114.5 | · | 150.6 | 149.5 | 98.0 | · | 103.9 | 86.9 | 71.3 | · | · | · | 59.1 | · | 72.5 | |
| EV / FCF | · | 263.7 | · | · | · | 411.9 | · | · | · | 327.3 | · | · | · | -509.9 | · | · | |
| EV / Revenue | 12.4 | 11.3 | · | 10.3 | 10.1 | 7.4 | · | 6.1 | 4.9 | 4.6 | · | · | · | 3.6 | · | 3.0 | |
| Earnings Yield | 1.8% | 1.8% | · | 1.8% | 1.8% | 2.2% | · | 2.5% | 2.8% | 2.7% | · | 3.1% | 2.7% | 2.8% | · | 2.9% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $8.25B | $7.43B | $6.64B | $5.66B | $4.97B |
| Operating Margin % | 24.8% | 22.0% | 18.1% | 16.2% | 15.0% |
| Net Income | $1.51B | $1.16B | $765M | $469M | $258M |
| Diluted EPS | $3.71 | $2.81 | $1.83 | $1.11 | $0.59 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.6 | 0.7 | 0.9 | 1.2 | 1.2 |
| Current Ratio | 2.1 | 2.2 | 1.9 | 2.1 | 2.2 |
| Quick Ratio | 0.9 | 0.8 | 0.7 | 0.9 | 0.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $1.43B | $977M | $682M | $540M | $250M |
Latest News Recent headlines mentioning this company
- Howmet Aerospace Inc. (HWM): Among Aerospace and Defense Stocks with the Largest 5Y Share Price Returns
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- Defense Stock Face-Off: Lockheed Martin vs. Howmet Aerospace -- Which Is the Better Buy Right Now?
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Institutional owners (13F) 1,731 filers · $50.6B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 228 (-6 vs prior Q) | 77 (-8 vs prior Q) | 670 (+84 vs prior Q) | 484 (+21 vs prior Q) | +66.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $7,027,041,646 | 26,136,434 | 13.88% | Shares |
| STATE STREET CORP | $5,090,575,882 | 18,933,928 | 10.06% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $4,986,888,678 | 18,548,273 | 9.85% | Shares |
| FMR LLC | $3,120,834,884 | 11,607,658 | 6.17% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $2,214,677,678 | 8,236,918 | 4.38% | Shares |
| NORGES BANK | $2,122,733,853 | 7,895,313 | 4.19% | Shares |
| KENSICO CAPITAL MANAGEMENT CORP | $1,366,776,696 | 5,083,600 | 2.70% | Shares |
| AMERICAN CENTURY COMPANIES INC | $883,243,314 | 3,285,142 | 1.74% | Shares |
| Capital Research Global Investors | $656,188,005 | 2,440,644 | 1.30% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $618,047,302 | 2,298,770 | 1.22% | Shares |
| CITADEL ADVISORS LLC | $568,877,379 | 2,115,887 | 1.12% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $533,404,000 | 1,983,947 | 1.05% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $516,608,027 | 1,921,476 | 1.02% | Shares |
| TD Asset Management Inc | $492,394,775 | 1,831,417 | 0.97% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $341,189,259 | 1,269,022 | 0.67% | Shares |
| AustralianSuper Pty Ltd | $304,416,466 | 1,132,249 | 0.60% | Shares |
| Swiss National Bank | $304,049,472 | 1,130,884 | 0.60% | Shares |
| National Pension Service | $298,724,700 | 1,111,079 | 0.59% | Shares |
| JENNISON ASSOCIATES LLC | $283,748,215 | 1,055,375 | 0.56% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $279,582,692 | 1,039,883 | 0.55% | Shares |
| BlackRock, Inc. | $267,269,693 | 994,085 | 0.53% | Shares |
| AMERIPRISE FINANCIAL INC | $263,978,861 | 981,845 | 0.52% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $263,461,829 | 979,922 | 0.52% | Shares |
| Qube Research & Technologies Ltd | $240,517,854 | 894,584 | 0.48% | Shares |
| GOLDMAN SACHS GROUP INC | $240,011,591 | 892,701 | 0.47% | Shares |
| PRUDENTIAL FINANCIAL INC | $236,468,285 | 879,522 | 0.47% | Shares |
| MILLENNIUM MANAGEMENT LLC | $236,103,442 | 878,165 | 0.47% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $235,365,152 | 875,419 | 0.46% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $233,894,757 | 869,950 | 0.46% | Shares |
| Vanguard Global Advisers, LLC | $233,220,456 | 867,442 | 0.46% | Shares |
| AGF MANAGEMENT LTD | $230,583,477 | 857,634 | 0.46% | Shares |
| Clearbridge Investments, LLC | $229,650,534 | 854,164 | 0.45% | Shares |
| Legal & General Group Plc | $228,378,017 | 849,431 | 0.45% | Shares |
| FIRST TRUST ADVISORS LP | $218,135,866 | 811,338 | 0.43% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $205,656,660 | 764,921 | 0.41% | Shares |
| California Public Employees Retirement System | $201,579,129 | 749,755 | 0.40% | Shares |
| Balyasny Asset Management L.P. | $200,958,869 | 747,448 | 0.40% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $200,735,715 | 746,618 | 0.40% | Shares |
| JANE STREET GROUP, LLC | $200,499,119 | 745,738 | 0.40% | Shares |
| Caisse de depot et placement du Quebec | $196,979,472 | 732,647 | 0.39% | Shares |
| RHUMBLINE ADVISERS | $192,880,567 | 717,402 | 0.38% | Shares |
| AXIOM INVESTORS LLC /DE | $185,983,636 | 691,749 | 0.37% | Shares |
| VANGUARD GROUP INC | $180,109,660 | 878,498 | 0.36% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $180,010,970 | 669,540 | 0.36% | Shares |
| DSM CAPITAL PARTNERS LLC | $173,850,522 | 646,621 | 0.34% | Shares |
| CONGRESS ASSET MANAGEMENT CO | $167,350,027 | 622,443 | 0.33% | Shares |
| Quantinno Capital Management LP | $159,046,330 | 591,558 | 0.31% | Shares |
| BANK OF AMERICA CORP /DE/ | $150,491,697 | 559,740 | 0.30% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $150,480,942 | 559,700 | 0.30% | Put option |
| JONES FINANCIAL COMPANIES LLLP | $147,654,222 | 549,166 | 0.29% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $144,969,312 | 539,200 | 0.29% | Call option |
| APG Asset Management N.V. | $141,953,048 | 603,641 | 0.28% | Shares |
| Robeco Institutional Asset Management B.V. | $140,540,650 | 522,728 | 0.28% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $133,538,895 | 579,445 | 0.26% | Shares |
| Munro Partners | $130,109,958 | 483,932 | 0.26% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $129,588,638 | 481,993 | 0.26% | Shares |
| JANE STREET GROUP, LLC | $126,041,568 | 468,800 | 0.25% | Put option |
| UBS Group AG | $125,603,057 | 467,169 | 0.25% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $125,023,395 | 465,013 | 0.25% | Shares |
| POLEN CAPITAL MANAGEMENT LLC | $122,902,480 | 457,124 | 0.24% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $122,298,646 | 459,587 | 0.24% | Shares |
| Cartenna Capital, LP | $120,987,000 | 450,000 | 0.24% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $119,943,758 | 445,871 | 0.24% | Shares |
| ROYAL BANK OF CANADA | $117,763,000 | 438,009 | 0.23% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $111,235,448 | 413,730 | 0.22% | Shares |
| Retirement Systems of Alabama | $110,015,361 | 409,192 | 0.22% | Shares |
| LPL Financial LLC | $109,359,030 | 406,751 | 0.22% | Shares |
| Hardman Johnston Global Advisors LLC | $108,272,611 | 402,710 | 0.21% | Shares |
| RAYMOND JAMES FINANCIAL INC | $107,335,154 | 399,223 | 0.21% | Shares |
| TD Waterhouse Canada Inc. | $105,385,467 | 393,860 | 0.21% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $103,832,925 | 386,197 | 0.21% | Shares |
| BARCLAYS PLC | $102,934,935 | 382,857 | 0.20% | Shares |
| ALLIANCEBERNSTEIN L.P. | $101,948,821 | 442,371 | 0.20% | Shares |
| 1832 Asset Management L.P. | $98,871,114 | 367,742 | 0.20% | Shares |
| Bank of New York Mellon Corp | $98,225,044 | 365,339 | 0.19% | Shares |
| Man Group plc | $96,805,194 | 360,058 | 0.19% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $95,875,476 | 356,600 | 0.19% | Shares |
| AVIVA PLC | $94,257,208 | 350,581 | 0.19% | Shares |
| MENORA MIVTACHIM HOLDINGS LTD. | $92,474,397 | 343,950 | 0.18% | Shares |
| Artisan Partners Limited Partnership | $92,154,991 | 342,762 | 0.18% | Shares |
| JANE STREET GROUP, LLC | $92,003,892 | 342,200 | 0.18% | Call option |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $91,911,673 | 341,857 | 0.18% | Shares |
| Ensign Peak Advisors, Inc | $88,646,368 | 329,712 | 0.18% | Shares |
| Assenagon Asset Management S.A. | $88,049,230 | 327,491 | 0.17% | Shares |
| TREMBLANT CAPITAL GROUP | $87,367,132 | 324,954 | 0.17% | Shares |
| Zurich Insurance Group Ltd/FI | $84,936,907 | 315,915 | 0.17% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $84,806,241 | 315,429 | 0.17% | Shares |
| FengHe Fund Management Pte. Ltd. | $83,830,548 | 311,800 | 0.17% | Shares |
| STRS OHIO | $82,095,326 | 305,346 | 0.16% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $81,188,730 | 301,974 | 0.16% | Shares |
| NEUBERGER BERMAN GROUP LLC | $80,647,537 | 299,961 | 0.16% | Shares |
| Freestone Grove Partners LP | $79,481,200 | 295,623 | 0.16% | Shares |
| Korea Investment CORP | $78,406,298 | 291,625 | 0.15% | Shares |
| Walleye Capital LLC | $78,363,818 | 291,467 | 0.15% | Shares |
| Bank Julius Baer & Co. Ltd, Zurich | $78,271,683 | 290,988 | 0.15% | Shares |
| CI INVESTMENTS INC. | $76,821,637 | 285,731 | 0.15% | Shares |
| KLP KAPITALFORVALTNING AS | $76,529,386 | 284,644 | 0.15% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $73,921,713 | 274,945 | 0.15% | Shares |
| MACKENZIE FINANCIAL CORP | $73,153,311 | 272,087 | 0.14% | Shares |
| Jain Global LLC | $70,577,363 | 262,506 | 0.14% | Shares |
Company insiders 90 insiders · 48 officers · 36 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| John C Plant | Executive Chairman & CEO | Feb. 17, 2026 A | 2,471,367 | 0 | 0 | $0 |
| Tolga I Oal | Co-Chief Executive Officer | Sept. 30, 2021 A | 263,085 | 0 | 0 | $0 |
| Klaus Kleinfeld | Chairman and CEO | Jan. 17, 2017 F | 918,498 | 0 | 0 | $0 |
| Patrick Winterlich | EVP, CFO | Feb. 17, 2026 A | 3,168 | 0 | 0 | $0 |
| Ken Giacobbe | EVP and CFO | May 5, 2025 F | 182,285 | 0 | 0 | $0 |
| William F Oplinger | Executive VP & CFO | Jan. 19, 2016 A | 228,224 | 0 | 0 | $0 |
| Charles D Mclane | Executive VP and CFO | Jan. 28, 2013 F | 431,344 | 0 | 0 | $0 |
| Joseph C Muscari | Exec. VP and CFO | Dec. 28, 2006 A | 108,284 | 0 | 0 | $0 |
| Richard B Kelson | Exec. VP and CFO | Dec. 30, 2005 A | 289,018 | 0 | 0 | $0 |
| Neil Edward Marchuk | EVP, CAO | May 11, 2026 S | 65,105 | 0 | 2 | $-22,664,929 |
| Jonathan A Arena | EVP, CL&CO and Secretary | April 15, 2026 A | 3,544 | 0 | 0 | $0 |
| Barbara Lou Shultz | Vice President and Controller | Feb. 26, 2026 S | 23,874 | 0 | 1 | $-260,000 |
| Michael Niem Chanatry | Vice President | Feb. 17, 2026 A | 168,502 | 0 | 0 | $0 |
| Lola Felice Lin | EVP, CL&CO and Secretary | Aug. 5, 2025 S | 63,150 | 0 | 0 | $0 |
| Paul W Myron | Vice President and Controller | May 16, 2021 F | 88,424 | 0 | 0 | $0 |
| Katherine H Ramundo | Executive Vice President | Jan. 19, 2021 F | 163,192 | 0 | 0 | $0 |
| Timothy Donald Myers | Executive Vice President | Feb. 4, 2020 A | 129,473 | 0 | 0 | $0 |
| Mark J Krakowiak | EVP, Strategy and Development | Feb. 15, 2018 A | 27,760 | 0 | 0 | $0 |
| Eric V Roegner | Executive Vice President | Jan. 22, 2018 F | 117,028 | 0 | 0 | $0 |
| Charles P Blankenship | Executive Vice President | Jan. 19, 2018 A | 140,790 | 0 | 0 | $0 |
| Vasantha Nair | Executive Vice President | Jan. 19, 2018 A | 60,485 | 0 | 0 | $0 |
| Kay Meggers | Executive Vice President | Jan. 17, 2017 F | 126,641 | 0 | 0 | $0 |
| Karl Tragl | Executive Vice President | Jan. 13, 2017 A | 23,986 | 0 | 0 | $0 |
| Christoph Kollatz | Exec Vice President | Jan. 13, 2017 A | 32,938 | 0 | 0 | $0 |
| Olivier M Jarrault | Executive Vice President | April 25, 2016 S | 352,889 | 0 | 0 | $0 |
| Robert Sean Collins | Vice President and Controller | March 15, 2016 F | 78,385 | 0 | 0 | $0 |
| Audrey Strauss | Executive Vice President | March 4, 2016 G | 48,000 | 0 | 0 | $0 |
| Roy Christopher Harvey | Executive Vice President | Jan. 19, 2016 A | 55,667 | 0 | 0 | $0 |
| Robert G Wilt | Executive Vice President | Jan. 20, 2015 A | 169,578 | 0 | 0 | $0 |
| Michael T. Barriere | Executive Vice President | April 15, 2014 F | 85,007 | 0 | 0 | $0 |
| Nicholas J Ashooh | Vice President | Aug. 30, 2013 A | 134,637 | 0 | 0 | $0 |
| Chris Ayers | Executive Vice President | Feb. 19, 2013 F | 180,825 | 0 | 0 | $0 |
| Graeme Bottger | Vice President and Controller | Jan. 28, 2013 F | 38,768 | 0 | 0 | $0 |
| Kurt R Waldo | EVP, Chief Legal & Compl. Ofcr | Jan. 23, 2012 F | 68,344 | 0 | 0 | $0 |
| John D Bergen | Vice President | Jan. 20, 2012 A | 41,886 | 0 | 0 | $0 |
| Nicholas John Deroma | Executive Vice President | Jan. 20, 2012 A | 43,418 | 0 | 0 | $0 |
| Helmut Wieser | Executive Vice President | Nov. 25, 2011 A | 85,436 | 0 | 0 | $0 |
| John G Thuestad | Executive Vice President | May 17, 2011 M | 23,674 | 0 | 0 | $0 |
| William F Christopher | Chairman's Counsel | March 17, 2011 F | 421,427 | 0 | 0 | $0 |
| Michael J Schell | Executive Vice President | Dec. 23, 2010 A | 288,847 | 0 | 0 | $0 |
| Bernt Reitan | Former Chairman's Counsel | July 30, 2010 A | 191,534 | 0 | 0 | $0 |
| Tony R Thene | VP - Controller | Jan. 26, 2010 A | 51,310 | 0 | 0 | $0 |
| Lawrence R Purtell | Exec. VP & Chairman's Counsel | May 13, 2008 S | 114,775 | 0 | 0 | $0 |
| Joseph R Lucot | VP - Corporate Controller | Jan. 13, 2008 F | 52,636 | 0 | 0 | $0 |
| Paul D Thomas | Executive Vice President | Jan. 13, 2008 F | 255,347 | 0 | 0 | $0 |
| Ruth Jeannette Mack | Vice President | April 26, 2006 D | 0 | 0 | 0 | $0 |
| Mario Longhi Filho | Vice President | April 21, 2005 A | 67,252 | 0 | 0 | $0 |
| John G Pizzey | Executive Vice President | Dec. 26, 2003 A | — | 0 | 0 | $0 |
| Joseph S Cantie | Director | July 2, 2026 A | 44,082 | 0 | 0 | $0 |
| Gunner Smith | Director | May 21, 2026 A | 5,844 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Elliott Investment Management L.P. ×7 filings | June 2, 2023 | — | Initial filing | — | SEC |
| Elliott Associates, L.P., Elliott International, L.P., Elliott International Capital Advisors Inc. ×14 filings | Aug. 28, 2019 | — | Initial filing | — | SEC |
| Alcoa Inc. | Feb. 13, 2009 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 193 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| JXX · Janus Detroit Street Trust | 5.24% | 7,811 NS | April 30, 2026 | N-PORT |
| ITA · iShares Trust | 4.70% | 2,438,361 SH | Aug. 8, 2026 | Daily |
| PRN · Invesco Exchange-Traded Fund Trust | 4.48% | 69,815 SH | Aug. 8, 2026 | Daily |
| JMID · Janus Detroit Street Trust | 4.39% | 3,291 NS | April 30, 2026 | N-PORT |
| PPA · Invesco Exchange-Traded Fund Trust | 4.24% | 1,313,081 SH | Aug. 8, 2026 | Daily |
| DFEN · Direxion Shares ETF Trust | 3.35% | 50,486 NS | April 30, 2026 | N-PORT |
| PAVE · Global X Funds | 3.27% | 1,712,558 NS | May 31, 2026 | N-PORT |
| CAML · Professionally Managed Portfolios | 3.19% | 49,263 NS | April 30, 2026 | N-PORT |
| NRSH · Tidal Trust I | 2.79% | 3,162 NS | April 30, 2026 | N-PORT |
| VOT · VANGUARD INDEX FUNDS | 2.36% | 3,065,290 SH | Aug. 8, 2026 | Daily |
| RPG · Invesco Exchange-Traded Fund Trust | 2.26% | 161,858 SH | Aug. 8, 2026 | Daily |
| AGOX · Starboard Investment Trust | 2.16% | 33,651 | May 31, 2026 | N-PORT |
| YOKE · EA Series Trust | 2.01% | 18,604 NS | April 30, 2026 | N-PORT |
| QGRO · AMERICAN CENTURY ETF TRUST | 1.83% | 156,298 NS | May 31, 2026 | N-PORT |
| PDP · Invesco Exchange-Traded Fund Trust | 1.82% | 97,113 SH | Aug. 8, 2026 | Daily |
| PWB · Invesco Exchange-Traded Fund Trust | 1.53% | 131,439 SH | Aug. 8, 2026 | Daily |
| AMOM · Exchange Listed Funds Trust | 1.50% | 1,889 NS | April 30, 2026 | N-PORT |
| VIS · VANGUARD WORLD FUND | 1.44% | 486,852 SH | Aug. 8, 2026 | Daily |
| NUGO · Nushares ETF Trust | 1.39% | 162,115 NS | April 30, 2026 | N-PORT |
| IYJ · iShares Trust | 1.34% | 90,543 SH | Aug. 8, 2026 | Daily |
| FIDU · FIDELITY COVINGTON TRUST | 1.33% | 113,283 NS | April 30, 2026 | N-PORT |
| RSPN · Invesco Exchange-Traded Fund Trust | 1.26% | 48,366 SH | Aug. 8, 2026 | Daily |
| DUSL · Direxion Shares ETF Trust | 1.26% | 2,814 NS | April 30, 2026 | N-PORT |
| IWLG · New York Life Investments Active ET… | 1.20% | 15,674 NS | April 30, 2026 | N-PORT |
| UXI · ProShares Trust | 1.20% | 1,325 NS | May 31, 2026 | N-PORT |
| VUSE · ETF Series Solutions | 1.12% | 29,822 NS | May 31, 2026 | N-PORT |
| GROZ · Zacks Trust | 1.12% | 3,908 NS | May 31, 2026 | N-PORT |
| EXI · iShares Trust | 1.11% | 56,334 SH | Aug. 8, 2026 | Daily |
| GURU · Global X Funds | 1.07% | 2,562 NS | April 30, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 1.04% | 8,670,847 SH | Aug. 8, 2026 | Daily |
| JOYT · J.P. Morgan Exchange-Traded Fund Tr… | 0.99% | 3,511 NS | April 30, 2026 | N-PORT |
| FXR · First Trust Exchange-Traded AlphaDE… | 0.90% | 25,936 NS | April 30, 2026 | N-PORT |
| IWFG · New York Life Investments Active ET… | 0.90% | 2,129 NS | April 30, 2026 | N-PORT |
| SPVU · Invesco Exchange-Traded Fund Trust … | 0.90% | 4,699 NS | May 31, 2026 | N-PORT |
| SMIZ · Zacks Trust | 0.87% | 8,685 NS | May 31, 2026 | N-PORT |
| QUAL · iShares Trust | 0.83% | 1,371,586 SH | Aug. 8, 2026 | Daily |
| HELO · J.P. Morgan Exchange-Traded Fund Tr… | 0.81% | 134,552 NS | April 30, 2026 | N-PORT |
| FFLG · FIDELITY COVINGTON TRUST | 0.81% | 19,546 NS | April 30, 2026 | N-PORT |
| FOWF · Pacer Funds Trust | 0.80% | 489 NS | April 30, 2026 | N-PORT |
| JOET · Virtus ETF Trust II | 0.80% | 7,738 NS | April 30, 2026 | N-PORT |
| JHAI · Janus Detroit Street Trust | 0.80% | 672 NS | April 30, 2026 | N-PORT |
| GARP · iShares Trust | 0.74% | 72,146 SH | Aug. 8, 2026 | Daily |
| UPSD · ETF Series Solutions | 0.71% | 2,968 NS | April 30, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.68% | 50,649 SH | Aug. 8, 2026 | Daily |
| XOEF · iShares Trust | 0.64% | 502 SH | Aug. 8, 2026 | Daily |
| SPMO · Invesco Exchange-Traded Fund Trust … | 0.60% | 467,448 SH | Aug. 8, 2026 | Daily |
| CLSE · Trust for Professional Managers | 0.60% | 14,214 NS | May 31, 2026 | N-PORT |
| FHEQ · Fidelity Greenwood Street Trust | 0.57% | 19,344 NS | April 30, 2026 | N-PORT |
| IIGD · Invesco Exchange-Traded Self-Indexe… | 0.54% | 150,000 | Aug. 8, 2026 | Daily |
| FDMO · FIDELITY COVINGTON TRUST | 0.54% | 18,571 NS | April 30, 2026 | N-PORT |