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, with 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 advanced motion control products[37] - 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 Management - 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 conducts an extensive talent review annually, including succession planning for critical roles[36] - Moog's leadership development programs include an 18-month Moog Leadership Program and a nine-month Emerging Leadership Program[34] - The company’s leadership development strategy focuses on internal growth and development of leaders through on-the-job experiences[33] 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 established baselines for water consumption and hazardous waste from 2022 data, with improvement goals set[43] - Moog launched a pilot of paid Volunteer Time Off, allowing employees one paid shift per year to volunteer, with plans to expand in 2025[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] - 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 in sales levels[18]
Moog(MOG_B) - 2025 Q4 - Annual Report