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Howmet Aerospace HWM Work in process

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Other financials

Income statement

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Revenue$2.3B+19.1%
Gross profit$854.0M+31.0%
Operating income$753.0M+52.4%
Net income$580.0M+68.6%
EPS (diluted)$1.44+71.4%

Balance sheet

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Cash & equivalents$2.4B+354%
Total debt$5.3B+52.1%
Total equity$5.5B+15.2%
Total assets$13.1B+21.3%

Cash flow

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Operating cash flow$453.0M+79.1%
CapEx$94.0M-21.0%
Free cash flow$359.0M+168%

Valuation

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Market cap$111.09B+75.9%
Enterprise value$113.96B+71.7%
P/E63.7×+13.4×
P/S12.9×+4.5×

Profitability

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Gross margin35%+2.9pp
Operating margin26.7%+3.4pp
Net margin20.2%+3.6pp

Returns & leverage

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Return on equity33.8%+5.5pp
Debt / equity+0.2×
Current ratio2.4×+0.1×

Where this comes from

Reported directly by Howmet Aerospace in its filing.

Tagged under the XBRL concept us-gaap:InventoryWorkInProcessNetOfReserves.

The official record: Howmet Aerospace’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Howmet Aerospace's work in process?
Howmet Aerospace (HWM) reported work in process of $924M in Q1 2026.
How has Howmet Aerospace's work in process changed year-over-year?
Howmet Aerospace's work in process decreased by 2.5% year-over-year, from $948M to $924M.
What is the long-term trend for Howmet Aerospace's work in process?
Over 5 years (2020 to 2025), Howmet Aerospace's work in process has grown at a 7.1% compound annual growth rate (CAGR), from $629M to $885M.
What does work in process mean?
The value of goods currently in the manufacturing process.
How do you interpret work in process?
Rising levels may indicate increased production activity or potential production delays, while falling levels suggest faster throughput.
How does work in process compare across companies?
Common in heavy manufacturing; levels correlate with production cycles and order backlogs.