Financial Performance - The twelve-month backlog as of September 27, 2025, was $3.0 billion, an increase of 20% compared to September 28, 2024[16]. - Net sales to the five largest customers represented approximately 31% of total sales in 2025[41]. - Aerospace and defense OEM customers accounted for 61% of total sales in 2025, with U.S. Government contracts representing 38% of total sales[40][42]. - Aftermarket sales accounted for 14% of total sales in 2025[40]. - Industrial market sales represented 25% of total sales in 2025, typically based on lead times of 90 days or less[40]. Research and Development - Research and development expenses were $94 million, representing approximately 2.4% of sales in 2025[20]. - Internal research and development activities are significant, with a focus on innovation in motion control products[20]. - The company maintains a patent portfolio that includes patents related to motion control and actuation systems, which are significant for future revenue opportunities[19]. Employee and Leadership Development - The company hired over 1,400 new employees and rehired over 70 employees in 2025[23]. - The average voluntary attrition rate over the last five years was approximately 7%[30]. - The company’s leadership development strategy focuses on internal growth and development of leaders through on-the-job experiences[33]. - Moog's leadership development programs include an 18-month Moog Leadership Program and a nine-month Emerging Leadership Program[34]. - The company has established a Global Mentoring Program and an on-demand learning library to support employee development[35]. Environmental Commitment - The company aims to reduce combined Scope 1 and 2 emissions by 40% from the 2022 baseline by 2030[43]. - The company has refined its corporate charitable giving guidelines to prioritize twelve key United Nations Sustainable Development Goals[43]. Operational Insights - The company operates through wholly-owned foreign subsidiaries primarily in Europe and the Asia-Pacific region, facing risks such as currency fluctuations and local government regulations[44]. - Moog's international operations are primarily located in Europe and the Asia-Pacific region, facing typical risks of international trade[44]. - The company emphasizes a strong commitment to health and safety, regularly conducting training and measuring EHS results continuously[27]. - The company’s sales and marketing organization consists of individuals with specialized technical expertise to meet customer precision control requirements[14]. - The company’s operations are not generally seasonal, although certain products in the energy market may experience seasonal variations[18].
Moog(MOG_A) - 2025 Q4 - Annual Report