Moog Inc

Latest Results (17.02.2026):

Moog Inc. reported record results for the fourth quarter of fiscal 2025 (Q4 2025): net sales of $1,049 million (up 14% vs. Q4 2024), operating margin of 11.9% (up 180 bps) and adjusted operating margin of 13.7%. Diluted net earnings per share were $2.01 (+53% year-over-year) and adjusted diluted EPS was $2.56 (+19%). Q4 free cash flow was a record $199 million. For the full fiscal year 2025, sales were $3,861 million (up 7%), adjusted diluted EPS was $8.69, twelve‑month backlog rose 20% to a record $3.0 billion, and the company issued strong fiscal 2026 guidance.

Record quarter

Q4 2025 set quarterly records for sales, adjusted operating margin, both EPS measures and free cash flow. Net sales were $1,049M, adjusted operating margin 13.7% and operating margin 11.9%.

Segment performance

Sales increased across all segments: Commercial Aircraft +27% to $252M (driven by 787/A350 production and aftermarket), Space & Defense +17% to $307M, Military Aircraft +10% to $236M, and Industrial +5% to $253M.

Profitability & EPS

Q4 diluted EPS was $2.01 (+53%); adjusted diluted EPS $2.56 (+19%). Full-year diluted EPS was $7.33 and adjusted diluted EPS was $8.69. Fiscal 2025 operating margin improved to 11.6% (up 40 bps) and adjusted operating margin to 13.0% (up 30 bps).

Cash flow

Q4 net cash from operations was about $241M and free cash flow was a record $199M, driven in part by customer advances. Fiscal 2025 free cash flow was $128M (vs. $21M prior year); Q4 capex was $42M and FY capex ~$145M.

Backlog & demand

Twelve‑month backlog increased ~20% to a record $3.0B, reflecting higher demand across the aerospace and defense portfolio and record annual sales in Commercial Aircraft, Space & Defense and Military Aircraft.

Fiscal 2026 guidance

Moog forecasts FY2026 net sales of ~$4.2B (vs. $3.9B FY2025), operating and adjusted operating margin of 13.4%, diluted and adjusted diluted EPS of $10.00 (±$0.20), and a free cash flow conversion target of 60% (vs. 46% in FY2025). Management expects tariff pressure of ~80 bps in FY2026.

Revision of prior periods

The company revised prior-period financials to correct immaterial misstatements related chiefly to long-term aftermarket service contract estimates (and some warranty items). Moog says the misstatements were immaterial to prior reports but required revision so 2025 statements reflect the full correction.