ATI vs V2X
ATI reported revenue of $4.6 billion in fiscal 2025, about the same as V2X's $4.5 billion in fiscal 2025. ATI's revenue grew 5.2% in its latest year, and V2X's grew 3.6%. ATI had an operating margin of 14.0%, against 4.3% at V2X. Free cash flow was $334 million at ATI and $170 million at V2X. Their fiscal years end in different months (December 28 and December 31), so the periods don't line up exactly.
Side by side
| ATI | V2X | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 28, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $4.6B | $4.5B |
| Revenue growth | 5.2% | 3.6% |
| Revenue growth a year, last 5 years | 9.0% | 26.3% |
| Gross margin | 21.9% | 8.3% |
| Operating margin | 14.0% | 4.3% |
| Net margin | 8.8% | 1.7% |
| Free cash flow | $334M | $170M |
| Free cash flow margin | 7.3% | 3.8% |
| Return on capital | 16.7% | 8.2% |
| Net debt to EBITDA | 1.6x | 2.4x |
| Dividends and buybacks | $470M | $30M |
| Change in diluted share count | −3.3% | −0.5% |
| Last close | $175.79 | $76.14 |
| P/E at the last close | 43.9× | 24.2× |
| Insider trades, last 12 months | sold $81.6 million | sold $364.1 million |
| Piotroski F-score | 9 of 9 | 8 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
ATIV2X
Operating margin
Percent of revenue
ATIV2X
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
ATIV2X