ATI Inc (ATI)

ATI Inc. produces and sells specialty materials and complex components worldwide. It operates in two segments, High Performance Materials & Components, and Advanced Alloys & Solutions. The company produces high performance materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, and metallic powder alloys, as well as long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, seamless tubes, plus precision forgings, components, and machined parts. It also offers zirconium and related alloys, including hafnium and niobium, nickel-based alloys, titanium and titanium-based alloys, and specialty alloys in various forms, such as plate, sheet, and precision rolled strip products. In addition, the company provides hot-rolling conversion services comprising carbon steel products. It serves medical and specialty energy, aerospace and defense, construction and mining, transportation, oil and gas, automotive, food equipment and appliances, and mining markets. The company was formerly known as Allegheny Technologies Incorporated. ATI Inc. was founded in 1996 and is headquartered in Dallas, Texas.

Ticker: ATI
Exchange: NYSE
Sector: Industrials
Industry: Metal Fabrication
Market cap: $23.88B
52-week range: $93.11 - $243.57

Valuation

Share price: $175.79 (close of Nov 6, 2026)
P/E (TTM): 43.09x
Price to book: 11.20x
Price to free cash flow: 56.70x
Enterprise value: $25.29B
Book value per share: $15.70

Price performance

Period	Change
1 day	+4.43%
5 days	+6.16%
1 month	-9.71%
3 months	-21.32%
6 months	+6.49%
Year to date	+53.18%
1 year	+82.71%
3 years	+314.31%
5 years	+890.92%
10 years	+1,142.33%
All time	+596.20%

Short interest

As of: Oct 15, 2026
Short % of float: 5.31%
Shares short: 4.73M
Days to cover: 3.93
Change since prior report: -0.18%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 21.09%
Return on invested capital: 14.65%
Return on assets: 7.93%
Return on capital employed: 15.66%
Gross margin: 21.95%
Net margin: 8.81%
EBITDA margin: 17.64%
Revenue growth: 5.16%
Net income growth: 9.92%
Free cash flow growth: 98.51%

Cash flow and balance sheet

Free cash flow yield (TTM): 1.76%
Current ratio: 2.77x
Net debt to EBITDA: 1.44x

Latest reported year

Period end: Dec 28, 2025
Fiscal year: 2025
Revenue: $4.59B
Cost of revenue: $3.58B
Gross profit: $1.01B
EBITDA: $809.00M
Net income: $404.30M
Earnings per share: $2.92
Research and development: $21.30M
Interest expense: $98.60M
Shares outstanding: 138.60M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-28	$4.59B	$1.01B	$404.30M	$2.92
2024-12-29	$4.36B	$898.20M	$367.80M	$2.82
2023-12-31	$4.17B	$802.60M	$410.80M	$3.21
2023-01-01	$3.84B	$714.20M	$323.50M	$2.54
2022-12-31	$3.84B	$714.20M	$130.90M	$1.03
2022-01-02	$2.80B	$333.20M	$184.60M	$1.45
2021-12-31	$2.80B	$333.20M	-$38.20M	-$0.30
2020-12-31	$2.98B	$292.80M	-$1.57B	-$12.43
2019-12-31	$4.12B	$638.00M	$252.50M	$2.01
2018-12-31	$4.05B	$630.30M	$222.40M	$1.78

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-28	21.95%	8.81%	21.09%	14.65%
2024-12-29	20.59%	8.43%	18.81%	13.13%
2023-12-31	19.23%	9.84%	27.75%	12.74%
2023-01-01	18.62%	8.43%	27.96%	10.35%
2022-12-31	18.62%	3.41%	11.31%	9.36%
2022-01-02	11.90%	6.59%	22.17%	3.33%
2021-12-31	11.90%	-1.36%	-4.59%	3.33%
2020-12-31	9.82%	-52.73%	-245.18%	-57.21%
2019-12-31	15.48%	6.12%	11.51%	9.98%
2018-12-31	15.58%	5.50%	11.17%	9.94%

Cash and debt by year

Period end	Cash	Debt
2025-12-28	$416.70M	$1.72B
2024-12-29	$721.20M	$1.71B
2023-12-31	$743.90M	$2.15B
2023-01-01	$584.00M	$1.71B
2022-12-31	$584.00M	$1.71B
2022-01-02	$687.70M	$1.71B
2021-12-31	$687.70M	$1.71B
2020-12-31	$645.90M	$1.55B
2019-12-31	$490.80M	$1.39B
2018-12-31	$382.00M	$1.54B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-28	$333.70M	$29.00M
2024-12-29	$168.10M	$34.10M
2023-12-31	-$114.80M	$29.10M
2022-12-31	$94.00M	$26.00M
2021-12-31	-$136.50M	$21.10M
2020-12-31	$30.40M	$2.90M
2019-12-31	$61.90M	-
2018-12-31	$253.60M	-
2017-12-31	-$100.30M	-
2016-12-31	-$245.90M	-

Dividend history

Most recent payment: Aug 16, 2016

Payment date	Dividend per share
2016-08-16	$0.08
2016-05-25	$0.08
2016-03-09	$0.08
2015-12-17	$0.08
2015-08-17	$0.18
2015-05-22	$0.18
2015-03-09	$0.18
2014-12-12	$0.18

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-10-29	Sep 2026	$1.36
2026-08-06	Jun 2026	$1.03
2026-04-30	Mar 2026	$0.88
2026-02-03	Dec 2025	$0.89
2025-10-28	Sep 2025	$0.75
2025-07-31	Jun 2025	$0.72
2025-05-01	Mar 2025	$0.58
2025-02-04	Dec 2024	$0.60

Filings and sources

Company website: atimaterials.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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