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NYSE · Materials

ATI INC (ATI)

As-reported financials and SEC filings for ATI INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About ATI INC

ATI Inc. produces specialty materials and components primarily for the aerospace and defense industries, focusing on jet engines, airframes, and military applications. The company operates two segments: High Performance Materials & Components, which manufactures advanced metallic powders and engineered components, and Advanced Alloys & Solutions, which produces nickel-based, titanium, and specialty alloys for extreme environments. ATI also serves energy, medical, electronics, and industrial markets with materials designed for high performance and durability.

Snapshot

Revenue
$4.59B
Revenue growth (YoY)
5.2%
Net income
$404.3M
Diluted EPS
$2.85
Gross margin
22.0%
Operating margin
14.0%
Net margin
8.8%
FCF margin
7.3%
ROE
21.1%
net income / fiscal-year-end equity
P/E
58.9×
trailing when available, otherwise FY EPS
Market cap
$27.36B
Long-term debt / equity
0.90×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 28, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Ati

  • Revenue grew 5.2% to $4.6B in FY2025, in line with the 4.5% the year before.
  • Operating margin is 14.0% in FY2025, +6.5 pp against 7.5% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $1.3B, up 10.6% from Q2 FY2025.
  • Free cash flow was $334M in FY2025, 7.3% of revenue.
  • Net income rose 9.9% to $404M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Ati’s fundamentals sit among the 241 Materials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin22.0%
36th percentile of 191
Operating margin14.0%
79th percentile of 189
Net margin8.8%
78th percentile of 221
FCF margin7.3%
63rd percentile of 205
Revenue growth (YoY)+5.2%
59th percentile of 236
ROE21.1%
89th percentile of 216
P/E58.9×
90th percentile of 134
Long-term debt / equity0.90×
66th percentile of 165
Short interest2.02d
24th percentile of 238

Ati’s P/E of 58.9 ranks in the 90th percentile of the 134 peers with a meaningful P/E. Ati’s return on equity of 21.1% ranks in the 89th percentile of the 216 Materials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 20 insider sales totaling $26.7M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 6 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
6
+6 quant / multi-strat
Initiated / added
8
1 new, 7 added
Reduced / exited
4
4 trimmed, 0 exited
Combined position
$1.56B
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$282.4M1.4MAdded
Point72 Asset ManagementquantQ2 2026$244.5M1.2MReduced
Viking Global InvestorsQ2 2026$227.4M1.2MReduced
Millennium ManagementquantQ2 2026$172.5M875.3KAdded
Polen Capital ManagementQ2 2026$161.5M819.2KNew
D. E. ShawquantQ2 2026$160.8M815.6KReduced
Two Sigma InvestmentsquantQ2 2026$125.5M636.7KAdded
Citadel AdvisorsquantQ2 2026$98.0M497.4KAdded
Gotham Asset ManagementQ2 2026$53.1M269.6KAdded
Bridgewater AssociatesQ2 2026$22.7M114.9KAdded
Soros Fund ManagementQ2 2026$14.5M73.3KAdded
ARK Investment ManagementQ2 2026$95,988487Reduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
20
$26.7M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-24
filed 2026-08-26
Harris Timothy JSenior VP and CDIOSell16.5K$206.92$3.4M
2026-08-17
filed 2026-08-19
Fields Kimberly AChair, President and CEOSell9.1K$231.72$2.1M
2026-08-17
filed 2026-08-19
Fields Kimberly AChair, President and CEOSell8.1K$230.66$1.9M
2026-08-17
filed 2026-08-19
Fields Kimberly AChair, President and CEOSell4.6K$232.43$1.1M
2026-08-17
filed 2026-08-19
Fields Kimberly AChair, President and CEOSell2.0K$229.56$459K
2026-08-17
filed 2026-08-19
Fields Kimberly AChair, President and CEOSell1.0K$228.32$228K
2026-07-28
filed 2026-07-30
Fields Kimberly AChair, President and CEOSell31.8K$190.99$6.1M
2026-07-07
filed 2026-07-09
Fields Kimberly AChair, President and CEOSell15.9K$183.50$2.9M
2026-07-07
filed 2026-07-09
Fields Kimberly AChair, President and CEOSell11.8K$182.66$2.2M
2026-07-07
filed 2026-07-09
Fields Kimberly AChair, President and CEOSell4.9K$184.34$899K
2026-07-07
filed 2026-07-09
Fields Kimberly AChair, President and CEOSell2.2K$181.36$399K
2026-07-07
filed 2026-07-09
Fields Kimberly AChair, President and CEOSell2.0K$180.00$360K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
3.4M
settled 2026-08-14
Change vs prior
-6.5%
vs previous settlement
Days to cover
2.02
at avg daily volume
Avg daily volume
1.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-143.4M-6.5%2.02
2026-07-313.7M-1.4%2.51
2026-07-153.7M-3.3%2.84
2026-06-303.9M+7.5%1.80
2026-06-153.6M-7.1%1.97
2026-05-293.9M+2.7%2.19
2026-05-153.8M-1.0%2.08
2026-04-303.8M+1.2%2.01

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$4.59B$4.36B$4.17B$3.84B$3.84B
Gross profit$1.01B$898.2M$802.6M$714.2M$714.2M
Operating income$640.9M$608.9M$466.4M$316.1M$287.3M
Net income$404.3M$367.8M$410.8M$323.5M$130.9M
Diluted EPS$2.85$2.55$2.81$2.23$0.96

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$614.3M$407.2M$85.9M$224.9M$224.9M
Capital expenditure$280.6M$239.1M$200.7M$130.9M$130.9M
Free cash flow$333.7M$168.1M$-114.8M$94.0M$94.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.26B10.6%$151.0M$1.09
Q1 FY2026$1.15B0.6%$118.2M$0.85
Q4 FY2025$1.18B0.4%$96.6M$0.69
Q3 FY2025$1.13B7.1%$110.0M$0.78
Q2 FY2025$1.14B4.1%$100.7M$0.70
Q1 FY2025$1.14B9.7%$97.0M$0.67
Q4 FY2024$1.17B10.2%$137.1M$0.94
Q3 FY2024$1.05B2.5%$82.7M$0.57

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorMaterials
SIC industrySteel Pipe & Tubes
Latest annual periodFY2025 (ended December 28, 2025)
Latest reported quarterQ2 FY2026 (ended June 28, 2026)
Oldest indexed filing2014
SEC CIK1018963

Selected SEC filings

10-K2026-02-20
View on EDGAR →
10-K2025-02-21
View on EDGAR →
10-Q2026-08-06
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
10-Q2025-10-28
View on EDGAR →
10-Q2025-07-31
View on EDGAR →
8-K2026-08-06
View on EDGAR →
8-K2026-06-08
View on EDGAR →

Largest Materials peers

All Materials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.