Ati Inc. (ATI) intrinsic value & 10-year financials
Ati Inc. (ATI) has a Graham intrinsic value of $60.24 per share. At $185.59 on Oct 17, 2026, the stock trades 208% above that value. Over the last 10 fiscal years revenue grew 4.3% a year to $4.6B, with an average return on invested capital of 2.2%.
- Graham intrinsic value
- $60.24
- Share price (Oct 17, 2026)
- $185.59
- Price vs Graham value
- 208% above
- Market cap
- $26.3B
- Revenue (FY2025)
- $4.6B
- Revenue growth (10-yr CAGR)
- 4.3%
- ROIC (10-yr avg)
- 2.2%
- Free cash flow (FY2025)
- $333.7M
ATI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.6B | $404.3M | $2.85 | $333.7M | 14.0% | 17.1% |
| FY2024 | $4.4B | $367.8M | $2.55 | $168.1M | 14.0% | 16.9% |
| FY2023 | $4.2B | $410.8M | $2.81 | -$114.8M | 11.2% | 18.9% |
| FY2022 | $3.8B | $130.9M | $0.96 | $94.0M | 7.5% | 13.2% |
| FY2021 | $2.8B | -$38.2M | -$0.30 | -$136.5M | 4.2% | 7.5% |
| FY2020 | $3.0B | -$1.6B | -$12.43 | $30.4M | -43.7% | -59.1% |
| FY2019 | $4.1B | $257.6M | $1.85 | $61.9M | 8.9% | 12.2% |
| FY2018 | $4.0B | $222.4M | $1.61 | $253.6M | 8.9% | 11.2% |
| FY2017 | $3.5B | -$91.9M | -$0.83 | -$100.3M | 2.3% | 2.5% |
| FY2016 | $3.1B | -$640.9M | -$5.97 | -$245.9M | -19.5% | -18.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
ATI INC has demonstrated mature, steady growth, with revenue compounding at 4.3% annually over the past decade.
ATI INC has historically struggled to out-earn its cost of capital, averaging just 2.2% ROIC.
ATI INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, ATI INC is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $60.24 per share.