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Side-by-side financial comparison of ASTRONICS CORP (ATRO) and Clearwater Analytics Holdings, Inc. (CWAN). Click either name above to swap in a different company.
ASTRONICS CORP is the larger business by last-quarter revenue ($240.1M vs $217.5M, roughly 1.1× Clearwater Analytics Holdings, Inc.). On growth, Clearwater Analytics Holdings, Inc. posted the faster year-over-year revenue change (72.0% vs 15.1%). Clearwater Analytics Holdings, Inc. produced more free cash flow last quarter ($52.3M vs $15.8M). Over the past eight quarters, Clearwater Analytics Holdings, Inc.'s revenue compounded faster (45.5% CAGR vs 13.9%).
Astronics Corporation is an American aerospace electronics corporation founded in 1968, headquartered in East Aurora, New York. It is traded on NASDAQ as Nasdaq: ATRO. It is known for lighting and electronics integrations on military, commercial, and business aircraft and semiconductor test systems.
Clearwater Analytics Holdings, Inc. is an American software-as-a-service (SaaS) fintech company that provides automated investment accounting, performance, compliance, and risk reporting worldwide. Clearwater is a publicly traded company headquartered in Boise, Idaho, with additional offices in London, Edinburgh, New York City and Noida.
ATRO vs CWAN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $240.1M | $217.5M |
| Net Profit | — | $-11.8M |
| Gross Margin | 33.3% | 67.2% |
| Operating Margin | 14.8% | -3.1% |
| Net Margin | — | -5.4% |
| Revenue YoY | 15.1% | 72.0% |
| Net Profit YoY | — | -102.8% |
| EPS (diluted) | $0.82 | $-0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $240.1M | $217.5M | ||
| Q3 25 | $211.4M | $205.1M | ||
| Q2 25 | $204.7M | $181.9M | ||
| Q1 25 | $205.9M | $126.9M | ||
| Q4 24 | $208.5M | $126.5M | ||
| Q3 24 | $203.7M | $115.8M | ||
| Q2 24 | $198.1M | $106.8M | ||
| Q1 24 | $185.1M | $102.7M |
| Q4 25 | — | $-11.8M | ||
| Q3 25 | $-11.1M | $-10.3M | ||
| Q2 25 | $1.3M | $-23.2M | ||
| Q1 25 | $9.5M | $6.5M | ||
| Q4 24 | — | $419.3M | ||
| Q3 24 | $-11.7M | $3.6M | ||
| Q2 24 | $1.5M | $-430.0K | ||
| Q1 24 | $-3.2M | $1.9M |
| Q4 25 | 33.3% | 67.2% | ||
| Q3 25 | 30.5% | 65.6% | ||
| Q2 25 | 25.8% | 65.1% | ||
| Q1 25 | 29.5% | 73.3% | ||
| Q4 24 | 29.8% | 73.5% | ||
| Q3 24 | 27.1% | 72.9% | ||
| Q2 24 | 28.0% | 72.0% | ||
| Q1 24 | 25.7% | 72.6% |
| Q4 25 | 14.8% | -3.1% | ||
| Q3 25 | 10.9% | 3.2% | ||
| Q2 25 | 2.3% | -8.0% | ||
| Q1 25 | 6.4% | 5.6% | ||
| Q4 24 | 4.3% | 1.0% | ||
| Q3 24 | 4.1% | 6.3% | ||
| Q2 24 | 3.8% | 3.6% | ||
| Q1 24 | 0.9% | -0.2% |
| Q4 25 | — | -5.4% | ||
| Q3 25 | -5.2% | -5.0% | ||
| Q2 25 | 0.6% | -12.8% | ||
| Q1 25 | 4.6% | 5.1% | ||
| Q4 24 | — | 331.5% | ||
| Q3 24 | -5.8% | 3.1% | ||
| Q2 24 | 0.8% | -0.4% | ||
| Q1 24 | -1.7% | 1.8% |
| Q4 25 | $0.82 | $-0.04 | ||
| Q3 25 | $-0.31 | $-0.04 | ||
| Q2 25 | $0.04 | $-0.09 | ||
| Q1 25 | $0.26 | $0.03 | ||
| Q4 24 | $-0.07 | $1.65 | ||
| Q3 24 | $-0.34 | $0.02 | ||
| Q2 24 | $0.04 | $0.00 | ||
| Q1 24 | $-0.09 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.2M | $91.2M |
| Total DebtLower is stronger | — | $822.6M |
| Stockholders' EquityBook value | $140.1M | $2.0B |
| Total Assets | $706.7M | $3.0B |
| Debt / EquityLower = less leverage | — | 0.41× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.2M | $91.2M | ||
| Q3 25 | $13.5M | $64.1M | ||
| Q2 25 | $13.5M | $71.9M | ||
| Q1 25 | $24.8M | $282.9M | ||
| Q4 24 | $9.3M | $255.5M | ||
| Q3 24 | $5.2M | $305.8M | ||
| Q2 24 | $2.9M | $257.9M | ||
| Q1 24 | $5.3M | $267.6M |
| Q4 25 | — | $822.6M | ||
| Q3 25 | — | $838.9M | ||
| Q2 25 | — | $878.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $43.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $140.1M | $2.0B | ||
| Q3 25 | $108.9M | $2.0B | ||
| Q2 25 | $271.6M | $2.0B | ||
| Q1 25 | $266.8M | $1.1B | ||
| Q4 24 | $256.1M | $1.0B | ||
| Q3 24 | $249.2M | $403.2M | ||
| Q2 24 | $257.9M | $380.6M | ||
| Q1 24 | $251.7M | $406.2M |
| Q4 25 | $706.7M | $3.0B | ||
| Q3 25 | $682.2M | $3.0B | ||
| Q2 25 | $646.7M | $3.0B | ||
| Q1 25 | $662.2M | $1.3B | ||
| Q4 24 | $648.8M | $1.2B | ||
| Q3 24 | $651.6M | $623.5M | ||
| Q2 24 | $644.9M | $585.1M | ||
| Q1 24 | $630.0M | $547.8M |
| Q4 25 | — | 0.41× | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $27.6M | $55.3M |
| Free Cash FlowOCF − Capex | $15.8M | $52.3M |
| FCF MarginFCF / Revenue | 6.6% | 24.0% |
| Capex IntensityCapex / Revenue | 4.9% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $43.1M | $164.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.6M | $55.3M | ||
| Q3 25 | $34.2M | $49.0M | ||
| Q2 25 | $-7.6M | $47.1M | ||
| Q1 25 | $20.6M | $24.5M | ||
| Q4 24 | $26.4M | $-29.2M | ||
| Q3 24 | $8.4M | $49.6M | ||
| Q2 24 | $-6.3M | $43.9M | ||
| Q1 24 | $2.0M | $10.0M |
| Q4 25 | $15.8M | $52.3M | ||
| Q3 25 | $21.0M | $44.9M | ||
| Q2 25 | $-12.2M | $44.1M | ||
| Q1 25 | $18.5M | $23.0M | ||
| Q4 24 | $23.2M | $-30.0M | ||
| Q3 24 | $6.5M | $48.1M | ||
| Q2 24 | $-8.1M | $42.4M | ||
| Q1 24 | $439.0K | $8.6M |
| Q4 25 | 6.6% | 24.0% | ||
| Q3 25 | 9.9% | 21.9% | ||
| Q2 25 | -6.0% | 24.2% | ||
| Q1 25 | 9.0% | 18.2% | ||
| Q4 24 | 11.1% | -23.7% | ||
| Q3 24 | 3.2% | 41.5% | ||
| Q2 24 | -4.1% | 39.7% | ||
| Q1 24 | 0.2% | 8.4% |
| Q4 25 | 4.9% | 1.4% | ||
| Q3 25 | 6.2% | 2.0% | ||
| Q2 25 | 2.2% | 1.6% | ||
| Q1 25 | 1.0% | 1.2% | ||
| Q4 24 | 1.5% | 0.6% | ||
| Q3 24 | 0.9% | 1.3% | ||
| Q2 24 | 0.9% | 1.4% | ||
| Q1 24 | 0.9% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -5.81× | — | ||
| Q1 25 | 2.17× | 3.76× | ||
| Q4 24 | — | -0.07× | ||
| Q3 24 | — | 13.66× | ||
| Q2 24 | -4.08× | — | ||
| Q1 24 | — | 5.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATRO
| Product Line Electrical Power And Motion | $113.8M | 47% |
| Product Line Avionics | $32.0M | 13% |
| Military Aircraft | $28.0M | 12% |
| General Aviation | $22.3M | 9% |
| Government And Defense | $20.5M | 9% |
| Product Line Systems Certification | $13.2M | 6% |
| Product Line Structures | $3.7M | 2% |
| Product Line Other | $2.3M | 1% |
CWAN
Segment breakdown not available.
