MOOG
MOG-A · NYSEMisc Industrial & Commercial Machinery & Equipment · Fiscal year ends Oct 3
MOOG reported revenue of $3.9B in the fiscal year ended Sep 2025, up 7.0% from the year before. Operating income was $450M, an operating margin of 11.6%, and net income was $235M. Operating cash flow of $273M less capital expenditure of $145M left free cash flow of $128M. Net debt was $884M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Oct 2021 | Oct 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | $2.9B | $3B | $3.3B | $3.6B | $3.9B |
| Cost of revenue | $2.1B | $2.2B | $2.4B | $2.6B | $2.8B |
| Gross profit | $776M | $821M | $898M | $1B | $1.1B |
| Research & development | $126M | $110M | $107M | $113M | $94M |
| Selling, general & admin | $412M | $449M | $475M | $501M | $554M |
| Operating income | $271M | $283M | $344M | $404M | $450M |
| Interest expense | $34M | $37M | $60M | $66M | $72M |
| Pre-tax income | $204M | $203M | $222M | $270M | $313M |
| Income tax | $47M | $48M | $46M | $61M | $78M |
| Net income | $157M | $155M | $175M | $209M | $235M |
| Diluted EPS | 4.87 | 4.83 | 5.47 | 6.45 | 7.33 |
| Diluted shares | 32M | 32M | 32M | 32M | 32M |
Balance sheet
| Fiscal year | Oct 2021 | Oct 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $100M | $102M | $69M | $62M | $62M |
| Receivables | $946M | $990M | – | – | – |
| Inventory | $613M | $588M | $718M | $863M | $914M |
| Current assets | $1.7B | $1.8B | $1.9B | $2.1B | $2.4B |
| Net PP&E | $646M | $689M | $826M | $929M | $1B |
| Goodwill | $852M | $805M | $821M | $834M | $842M |
| Total assets | $3.4B | $3.4B | $3.8B | $4.1B | $4.4B |
| Payables | $201M | $232M | $265M | $294M | $318M |
| Deferred revenue | $264M | $297M | $338M | $302M | $373M |
| Current liabilities | $869M | $838M | $958M | $1B | $1.1B |
| Short-term debt | $80M | $916,000 | $0 | $0 | $2M |
| Long-term debt | $823M | $837M | $863M | $874M | $944M |
| Total liabilities | $2B | $2B | $2.2B | $2.2B | $2.4B |
| Shareholders' equity | $1.4B | $1.4B | $1.6B | $1.8B | $2B |
| Backlog (remaining obligations) | $4.8B | $5.2B | $5.1B | $5.1B | $6B |
Cash flow
| Fiscal year | Oct 2021 | Oct 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $293M | $247M | $140M | $198M | $273M |
| Capital expenditure | $129M | $139M | $177M | $152M | $145M |
| Free cash flow | $164M | $107M | −$38M | $46M | $128M |
| Depreciation & amortisation | $90M | $88M | $89M | $96M | $104M |
| Stock-based compensation | $7M | $9M | $11M | $15M | $17M |
| Acquisitions | $78M | $12M | $0 | $6M | $41M |
| Share buybacks | $32M | $49M | $29M | $37M | $143M |
| Dividends paid | $32M | $33M | $34M | $35M | $36M |
| Dividend per share | 1.00 | 1.03 | 1.07 | 1.11 | 1.15 |
Key ratios
| Fiscal year | Oct 2021 | Oct 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 6.4% | 9.2% | 8.8% | 7.0% |
| Operating income growth (YoY) | – | 4.4% | 21.6% | 17.6% | 11.2% |
| EPS growth (YoY) | – | −0.8% | 13.3% | 17.9% | 13.6% |
| Gross margin | 27.2% | 27.0% | 27.1% | 28.1% | 27.4% |
| Operating margin | 9.5% | 9.3% | 10.4% | 11.2% | 11.6% |
| Net margin | 5.5% | 5.1% | 5.3% | 5.8% | 6.1% |
| Return on equityBlank when equity is negative | 11.2% | 10.8% | 10.9% | 11.4% | 11.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 10.6% | 10.9% | 12.2% | 13.2% | 13.6% |
| Free cash flow margin | 5.8% | 3.5% | −1.1% | 1.3% | 3.3% |
| Cash conversion (CFO ÷ net income) | 1.87x | 1.59x | 0.80x | 0.95x | 1.16x |
| Receivable days | 121 | 119 | – | – | – |
| Inventory days | 108 | 97 | 109 | 122 | 119 |
| Payable days | 35 | 38 | 40 | 41 | 42 |
| Interest cover | 7.99x | 7.70x | 5.75x | 6.10x | 6.24x |
| Debt ÷ equity | 0.65x | 0.58x | 0.54x | 0.48x | 0.47x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $804M | $736M | $794M | $812M | $884M |
| Current ratio | 1.98x | 2.09x | 2.02x | 2.09x | 2.12x |
Recent filings
More in Misc Industrial & Commercial Machinery & Equipment
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.