Moog Inc

Latest Results (04.01.2026):

Moog Inc. reported record fourth quarter fiscal 2025 results, with Q4 sales of $1,049 million (up 14% year‑over‑year), improved margins, higher earnings and record free cash flow; the company also issued strong fiscal 2026 guidance targeting higher sales, expanded margins and materially stronger free cash flow conversion.

Quarter results (Q4 2025)

Net sales $1,049M (+14% vs Q4 2024); operating margin 11.9% (+180 bps); adjusted operating margin 13.7% (+20 bps); diluted net EPS $2.01 (+53%); adjusted diluted EPS $2.56 (+19%); record free cash flow $199M for the quarter.

Segment performance

Record Q4 sales in Space & Defense ($307M, +17%), Commercial Aircraft ($252M, +27%) and Military Aircraft ($236M, +10%); Industrial sales rose 5% to $253M. Commercial strength driven by widebody production ramps and aftermarket; Space & Defense broad‑based defense demand; Military benefited from MV‑75 activity and pricing.

Cash flow and capital

Q4 net cash from operating activities ~$241M; Q4 free cash flow $199M driven by working capital improvements and customer advances. Q4 capex was $42M; FY2025 free cash flow was $128M (free cash flow conversion 46% on adjusted net earnings).

Full‑year 2025 highlights

Fiscal 2025 net sales $3.861B (+7%); adjusted operating margin 13.0% (+30 bps vs FY2024); adjusted diluted EPS $8.69 for the year. Twelve‑month backlog increased 20% to a record $3.0B.

Fiscal 2026 guidance

Management forecasts FY2026 net sales ~$4.2B, operating margin and adjusted operating margin ~13.4%, diluted and adjusted diluted EPS ~$10.00 (± $0.20), and free cash flow conversion ~60%.

Drivers and headwinds

Improved margins benefited from stronger performance and lower simplification charges; tariff pressure trimmed margins (company expects ~80 bps tariff headwind in FY2026 versus ~50 bps in FY2025). Q4 Space & Defense operating margin was held flat by a legal dispute settlement charge; Commercial Aircraft margins were pressured by tariffs and sales mix.

Accounting revision

Moog disclosed revisions to prior periods to correct immaterial misstatements (principal issue: inputs to cost‑to‑complete for certain long‑term Commercial Aircraft aftermarket contracts). Prior‑period financials for 2023/2024 and interim 2024/2025 quarters were revised accordingly as described in the release.