Moog Inc. (NYSE: MOG-A)

CIK: 0000067887
Market Cap 8.64 Bn
P/B 4.33
P/E 36.75
P/S 2.24
ROIC (Qtr) 9.50
Div Yield % 0.21
Rev 1y % (Qtr) 13.85
Total Debt (Qtr) 945.69 Mn
Debt/Equity (Qtr) 0.47

About

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 62.21M provide 39.80x coverage of short-term debt 1.56M, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of 273.09M provides strong 16.34x coverage of stock compensation 16.71M, indicating sustainable incentive practices.
  • Strong tangible asset base of 3.52B provides 3.72x coverage of total debt 945.69M, indicating robust asset backing and low credit risk.
  • Tangible assets of 3.52B provide robust 4.40x coverage of other current liabilities 799.10M, indicating strong asset backing.
  • Operating cash flow of 273.09M provides strong 17.75x coverage of operating expenses 15.39M, showing operational efficiency.

Bear case

  • Operating cash flow of 273.09M barely covers its investment activities of (175.26M), with a coverage ratio of -1.56, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • With cash reserves of 62.21M against inventory of 914.30M, the 0.07 cash-to-inventory ratio suggests potential liquidity risks if inventory turnover slows, particularly concerning given current supply chain volatilities.
  • Investment activities of (175.26M) provide weak support for R&D spending of 93.67M, which is -1.87x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of 273.09M provides thin coverage of dividend payments of (36.43M) with a -7.50 ratio, suggesting potential dividend sustainability issues if operational performance deteriorates.
  • Cash reserves of 62.21M provide limited coverage of acquisition spending of (27.69M), which is -2.25x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.

Geographical Breakdown of Revenue (2025)

Industry Sector Breakdown of Revenue (2025)

Peer comparison

Companies in the Aerospace & Defense
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 GE General Electric Co 342.94 Bn 42.54 7.80 20.84 Bn
2 RTX RTX Corp 252.05 Bn 38.24 2.93 40.71 Bn
3 BA Boeing Co 174.43 Bn -17.16 2.16 53.35 Bn
4 LMT Lockheed Martin Corp 126.61 Bn 30.15 1.73 22.19 Bn
5 GD General Dynamics Corp 95.62 Bn 22.69 1.86 8.01 Bn
6 NOC Northrop Grumman Corp /De/ 89.30 Bn 22.22 2.18 16.96 Bn
7 HWM Howmet Aerospace Inc. 88.16 Bn 60.80 11.05 3.19 Bn
8 TDG TransDigm Group INC 80.97 Bn 43.39 9.17 30.02 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 2.18 3.58
EV to Cash from Ops. EV/CFO 35.37 58.38
EV to Debt EV to Debt 10.21 98.04
EV to EBIT EV/EBIT 25.11 19.42
EV to EBITDA EV/EBITDA 19.39 33.60
EV to Free Cash Flow [EV/FCF] EV/FCF 75.25 91.66
EV to Market Cap EV to Market Cap 1.12 1.13
EV to Revenue EV/Rev 2.50 11.27
Price to Book Value [P/B] P/B 4.33 4.81
Price to Earnings [P/E] P/E 36.75 31.79
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 6.45 -3.75
Dividend Payout Ratio % Div Payout % (Qtr) 7.70 22.95
Dividend per Basic Share Div per Share (Qtr) 0.29 0.70
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 7.16 14.15
Interest Coverage Int. cover (Qtr) 5.34 -18.00
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 3.86 -50.32
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 0.64 1,609.43
Dividend Growth (1y) % Div 1y % (Qtr) -74.11 0.75
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 11.18 -30.98
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 10.81 10.65
EBIT Growth (1y) % EBIT 1y % (Qtr) 14.47 -26.90
EBT Growth (1y) % EBT 1y % (Qtr) 15.90 -27.25
EPS Growth (1y) % EPS 1y % (Qtr) 13.63 -99.21
FCF Growth (1y) % FCF 1y % (Qtr) 171.25 6.61
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 4.44 -5.55
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.87 0.51
Cash Payout Ratio Cash Payout (Qtr) 0.09 0.07
Cash Ratio Cash Ratio (Qtr) 0.06 1.76
Current Ratio Curr Ratio (Qtr) 2.12 3.72
Debt to Equity Ratio Debt/Equity (Qtr) 0.47 0.07
Interest Cover Ratio Int Coverage (Qtr) 5.34 -18.00
Times Interest Earned Times Interest Earned (Qtr) 5.34 -18.00
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 12.70 -345.84
EBIT Margin % EBIT Margin % (Qtr) 9.97 -382.63
EBT Margin % EBT Margin % (Qtr) 8.10 -387.93
Gross Margin % Gross Margin % (Qtr) 27.40 -33.31
Net Profit Margin % Net Margin % (Qtr) 6.10 -389.13