Financial Performance - Moog Inc. achieved record net sales of $1,049 million in Q4 2025, a 14% increase from $919 million in Q4 2024[2] - The company reported a diluted net earnings per share of $2.01 for Q4 2025, reflecting a 53% increase from $1.31 in Q4 2024[2] - For fiscal 2025, net sales increased by 7% to $3.861 billion, with significant contributions from Commercial Aircraft, Space and Defense, and Military Aircraft segments[9] - Net sales for the three months ended September 27, 2025, were $1,049,138, a 13.9% increase from $919,395 in the same period of 2024[22] - Net earnings for the three months ended September 27, 2025, were $64,406, representing a 51.5% increase from $42,534 in the same period of 2024[24] - Diluted net earnings per share for the twelve months ended September 27, 2025, increased to $7.33, up from $6.45 in the previous year, a rise of 13.6%[24] - Net earnings for the twelve months ended September 27, 2025, were $235,028 thousand, an increase of 12.58% compared to $208,786 thousand for the same period in 2024[39] Cash Flow and Financial Health - Free cash flow reached a record $199 million in Q4 2025, up from $109 million in Q4 2024, driven by strong cash generation from customer advances[8] - Free cash flow for the twelve months ended September 27, 2025, was $128,355 thousand, significantly up from $20,867 thousand in the previous year, indicating a conversion rate of 46%[41] - Free cash flow conversion for fiscal 2026 is anticipated to be 60%, compared to 46% in fiscal 2025[15] - Cash and cash equivalents at the end of the period were $62,213 thousand, down from $64,537 thousand, a decrease of 3.61%[39] Operating Performance - Operating margin for fiscal 2025 improved by 40 basis points to 11.6%, supported by stronger financial performance across all segments[10] - The company expects operating margin and adjusted operating margin for fiscal 2026 to be 13.4%, reflecting continued operational improvements[15] - Total operating profit for the three months ended September 27, 2025, was $125,040, a 34.5% increase from $92,881 in the same period of 2024[31] - Total operating profit as adjusted for the twelve months ended September 27, 2025, was $501,268, with a margin of 13.0%[33] Research and Development - Research and development expenses decreased to $23,679 for the three months ended September 27, 2025, down from $26,021 in the same period of 2024, a decline of 8.9%[22] - Research and development expenses for the twelve months ended September 28, 2024, remained steady at $112,773 thousand[53] Future Projections - Moog Inc. forecasts fiscal 2026 net sales to reach $4.2 billion, an increase from $3.9 billion in fiscal 2025[15] - Adjusted diluted net earnings per share for fiscal 2026 is projected to be $10.00, up from $8.69 in fiscal 2025[15] Backlog and Demand - The twelve-month backlog increased by 20%, reaching a record $3.0 billion, indicating strong future demand[4] Assets and Liabilities - Total assets increased to $4,426,055 thousand as of September 27, 2025, up from $4,077,647 thousand a year earlier, representing a growth of 8.55%[36] - Current assets rose to $2,369,980 thousand, a 11.65% increase from $2,122,646 thousand in the prior year[36] - Long-term debt, excluding current installments, increased to $944,123 thousand from $874,139 thousand, reflecting a rise of 7.98%[36] - The company reported a total current liabilities of $1,119,068 thousand, which is an increase of 10.43% from $1,013,414 thousand in the previous year[36] Acquisitions and Strategic Moves - The company made acquisitions totaling $41,179 thousand during the year, compared to $5,911 thousand in the previous year, indicating a strategic expansion[39] Corrections and Adjustments - The company identified and corrected immaterial misstatements in prior financial statements, impacting the reported figures for 2023 and 2024[45]
Moog(MOG_A) - 2025 Q4 - Annual Results