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Howmet Aerospace HWM Return on invested capital

Return on invested capital at other companies

Barnes Group logo
Barnes GroupB
2.2%+0.2pp
General Electric logo
General ElectricGE
50.4%+26.9pp
Raytheon Technologies logo
Raytheon TechnologiesRTX
8.1%+2.9pp
ATI logo
ATIATI
20.3%+4.2pp
Berkshire Hathaway logo
Berkshire HathawayBRK.B
10.4%-4.9pp
Honeywell International logo
Honeywell InternationalHON
13.3%-2.3pp

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$113.32B+75.9%
Enterprise value$116.18B+71.7%
P/E65×+13.7×
P/S13.1×+4.6×

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

Calculated from Howmet Aerospace’s reported figures.

Based on trailing twelve months.

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 return on invested capital?
Howmet Aerospace (HWM) reported return on invested capital of 23.7% in Q1 2026.
How has Howmet Aerospace's return on invested capital changed year-over-year?
Howmet Aerospace's return on invested capital increased by 24.0% year-over-year, from 19.1% to 23.7%.
What is the long-term trend for Howmet Aerospace's return on invested capital?
Over 4 years (2021 to 2025), Howmet Aerospace's return on invested capital has grown at a 24.3% compound annual growth rate (CAGR), from 34.6% to 82.7%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.