ATI INC · Steel Pipe & Tubes

ATI

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The short version

A profitable company with growing sales.

Going well

Sales up 11% in the latest quarter vs a year ago
Profitable
Brings in more cash than it spends

Money moves

No insider buying or selling in the last 30 days
Institutions added 0.7% to their holdings in the quarter ending June 2026 (467 bought, 275 sold)
Held by George Soros (Soros Fund), Ray Dalio (Bridgewater), Cathie Wood (ARK Invest)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$164.47+4.8% that day

Company value: $22.4B; Share price times all shares
Price vs profit (P/E): 48.2x; You pay about $48 for each $1 of yearly profit
Price vs sales: 4.7x; Company value is 4.7 times a year of sales
Cash vs value: 3%; Cash as a share of company value
Debt vs value: 8%; Debt as a share of company value

From ATI's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$1.3B+11% vs a year earlier

Oct '23Tap a barJun '26

Last 12 months: $4.7B, up 4.6% from the 12 months before. Over 5 years, sales grew about 9.0% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of ATI. Starting points are the company's recent numbers.

Sales growth+5% a yearRecently: +4.6% a yearProfit margin10%Last 12 months: 10.1%P/E at the end40xToday: 48.2x. Many steady companies trade at 12x to 25xShare count change-2% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$6.0B

Profit in 5 years$602M

Price these guesses point to$195.57+19% vs $164.47 todayAbout +3.5% a year, before dividends

What today's price needs: with a 10% margin and a 40x P/E, sales would have to grow about 1.4% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/7Mixed

PassReturn on equity 15%+Earns a lot on the money owners have in the business.22.1%
MissDebt under half of equityNot relying on borrowed money.0.95x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.8.8%
MissProfitable every yearSteady profits, not one good year.6 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$614.3M
PassShare count not growingNot diluting owners. Falling means buybacks.-6.2% in 3 years
MissGross margin 40%+Pricing power: sells for well above what it costs to make.22.0%

Revenue: $4.6B; +5.2% vs prior year
5-year growth: +9.0%/yr; revenue, per year
Total debt: $1.7B; 0.95x equity
Current ratio: 2.66x; short-term assets / bills due

From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.