Core Insights - Astronics Corporation's Aerospace segment is the primary revenue driver, contributing 89% of total revenues in 2024 and 93% in the first nine months of 2025, indicating strong demand across various markets [1][8] Group 1: Aerospace Segment Performance - The Aerospace segment focuses on designing and manufacturing products for the global aerospace industry, with revenue growth of 17% in 2024 and 11% in the first nine months of 2025, driven by sales in Commercial Transport and Military Aircraft markets [2][3] - Favorable demand conditions in both defense and commercial aerospace are supported by rising global defense budgets and increased airline investments in cabin upgrades, which align with Astronics' core product offerings [3] Group 2: Financial Metrics and Growth Indicators - The backlog for Astronics reached $572.5 million, a 6.5% increase from year-end 2024, enhancing revenue visibility and production planning [4][8] - Operating margin expanded by 360 basis points year over year in the first nine months of 2025, reflecting improved profitability due to rising Aerospace volumes [4] - Astronics shares have increased by 41.5% year to date, outperforming the industry, and the stock is currently trading at a price-to-sales ratio of 2.85, significantly lower than the industry average of 12.62, indicating undervaluation [7][10][8] Group 3: Future Estimates - The Zacks Consensus Estimate for Astronics' first-quarter 2026 EPS remains stable at 0.63, with similar stability for the current year estimate of 1.87, suggesting consistent performance expectations [11][12]