One-glance verdict
Overvalued
$92.63 our estimate vs market $359.70
Wall Street consensus: $446.40 (381.9% higher than our fair-value estimate)
288% above our estimate, beyond the bull case
Fundamentals snapshot
Moog Inc.
MOG-A · NYQ · Industrials · Aerospace & Defense
Current price
$359.70
52-week range
$192.33 - $448.85
Market cap
$11.39B
Balance sheet
Watch
5.68x Adequate
Net debt $1.08B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 11.7% last year.
- Reward Returns 18.1% on equity, ahead of 50% of its peers.
- Risk Stock trades 27.4% above its 5-year average P/E.
- Risk Net debt grew 20.1% over 3 years.
What this company does
Moog Inc.
Moog makes highly precise parts that control motion, selling them primarily for use in airplanes, spacecraft, and military equipment. The company's money mainly comes from long-term government and corporate contracts in the aerospace and defense industries. This is important because its products are critical for safety and performance, making it difficult for customers to switch to a competitor once Moog's parts are designed into a major program like a jet or missile system.
How the company got here
Moog began in 1951 when inventor Bill Moog, his brother, and a colleague pooled $3,000 to start the Moog Valve Company. Their key invention was the electrohydraulic servo valve, a device that could very precisely control the movement of machinery, which was first used to steer guided missiles. A major turning point was creating special controls for NASA's Apollo program in the 1960s, helping astronauts land on the moon. Over the following decades, the company expanded from this single component into creating entire motion control systems for military and commercial aircraft, as well as industrial machines, and became a publicly-traded company listed on the stock exchange.
What it actually does
Moog makes highly precise, reliable parts that control movement in very demanding machines. Think of them as the super-strong, incredibly accurate muscles and nerves inside complex equipment like airplanes, satellites, and factory robots. You won't find their products on a store shelf, but they are critical components inside things like the flight controls of a Boeing 787, the steering system for a missile, or the machinery that makes medical devices. The company specializes in systems that use electricity and fluid pressure (hydraulics) to move parts of a machine exactly where they need to go, often in extreme conditions where failure is not an option.
Military Aircraft
This part of the business designs and builds the systems that control how military airplanes and helicopters fly. This includes primary flight controls (the systems that move the main surfaces of the wings and tail) for fighter jets like the F-35 and transport aircraft. The main customers are governments and large defense contractors like Lockheed Martin and Boeing, who build the planes. This segment, which also provides replacement parts and services (known as aftermarket support), accounts for a significant portion of the company's business.
Space and Defense
This segment creates critical control systems for things that go into space or are used for national defense on land and sea. For space, they build parts that steer launch vehicles and control propulsion systems on satellites and spacecraft, including for NASA's Artemis moon program. For defense, they make systems that aim missile fins, stabilize weapons on military vehicles, and operate quietly on submarines. The customers are governments and major defense and space exploration companies. This is one of the largest parts of Moog's business.
Commercial Aircraft
This division focuses on flight-critical control systems for non-military airplanes, from large airliners to smaller business jets. They make the high-precision actuators (devices that move parts) and control systems for planes built by companies like Boeing and Airbus, including on major programs like the 787 and A350. Just like the military side, a big part of this business is the aftermarket (providing spare parts and repair services to airlines and maintenance shops). This segment is a major contributor to the company's overall revenue.
Industrial
This segment takes Moog's precision motion control technology and applies it to a wide variety of machines outside of aerospace and defense. For example, they make components for industrial automation robots, motion bases for flight simulators used to train pilots, and parts for medical equipment like infusion pumps and CT scanners. They also create systems for energy production, such as controls for wind turbines and gas turbines. This business serves a broad range of industrial manufacturers and is a substantial part of the company.
What management is betting on now
Management is focused on capitalizing on the high demand in its defense and space businesses, which have a large backlog (a measure of orders waiting to be fulfilled). They are investing in factory automation and workforce training to produce things more efficiently and handle the growing number of orders, especially for missile programs. The company also sees major opportunities in the recovery of commercial air travel, which means more demand for new planes and replacement parts. A key strategy is to continue developing next-generation technologies, like electric-powered actuation systems, to get their products designed into new, long-lasting aircraft and defense programs.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$109.39M
FY2025 Q1
$-165.06M
FY2025 Q2
$1.82M
FY2025 Q3
$92.67M
FY2025 Q4
$198.93M
FY2026 Q2
$-79.15M
FY2026 Q3
$132.58M
Revenue
$1.12B
Net income
$152.03M
Diluted EPS
4.74
Operating cash flow
$160.09M
Free cash flow
$132.58M
Fetching…
Sources
Revenue
$1.10B
Net income
$78.85M
Diluted EPS
2.46
Operating cash flow
$-44.77M
Free cash flow
$-79.15M
Fetching…
Sources
Revenue
$1.04B
Net income
$66.45M
Diluted EPS
2.07
Operating cash flow
$240.62M
Free cash flow
$198.93M
Fetching…
Sources
Revenue
$971.36M
Net income
$59.71M
Diluted EPS
1.87
Operating cash flow
$125.33M
Free cash flow
$92.67M
Fetching…
Sources
Revenue
$934.84M
Net income
$55.75M
Diluted EPS
1.75
Operating cash flow
$39.42M
Free cash flow
$1.82M
Fetching…
Sources
Revenue
$910.32M
Net income
$53.11M
Diluted EPS
1.64
Operating cash flow
$-132.28M
Free cash flow
$-165.06M
Fetching…
Sources
Revenue
$917.27M
Net income
$43.05M
Diluted EPS
1.32
Operating cash flow
$155.79M
Free cash flow
$109.39M
Fetching…
Sources
Is it cheap or expensive?
Fair value $92.63 vs current price $359.70
Wall Street consensus is the average analyst price target: $446.40 (381.9% higher than our fair-value estimate).
Our most-likely fair value is $92.63 a share — about 74.2% below today's price of $359.70, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Watch
Net debt $1.1B. Interest coverage 5.7x.
Net debt
$1.08B
Interest coverage
5.68x
Moog Inc.'s profit covers its interest bill about 5.7 times over. which is stronger than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Watch
Worse cushion
Baseline
Better cushion
MOG-A
BASELINE
Moog Inc.
Total debt $1.15B Interest coverage 5.68x This is the baseline the peer rows are being compared against.
Total debt $1.15B Interest coverage 14.79x +160% vs MOG-A Carries about 2.6x more debt cushion than MOG-A.
Total debt $1.38B Interest coverage 10.48x +84% vs MOG-A Carries about 1.8x more debt cushion than MOG-A.
Total debt $2.54B Interest coverage 7.85x +38% vs MOG-A Carries about 1.4x more debt cushion than MOG-A.
Total debt $959.40M Interest coverage 4.55x -20% vs MOG-A Carries about 1.2x less debt cushion than MOG-A.
Total debt $502.88M Interest coverage 0.25x -96% vs MOG-A Carries about 22.4x less debt cushion than MOG-A.
What you should know
The case for and against MOG-A
3 Rewards
2 Risks
Rewards
-
Revenue grew 11.7% last year.
-
Returns 18.1% on equity, ahead of 50% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Stock trades 27.4% above its 5-year average P/E.
-
Net debt grew 20.1% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
30.30x
Forward P/E
29.97x
P/B
5.12x
P/S
2.64x
EV/EBITDA
19.72x
PEG ratio
1.49x
Profitability
How much profit each dollar creates
Gross margin
28.2%
Operating margin
14.5%
Net margin
8.7%
ROE
18.1%
ROA
7.0%
Health
Liquidity and balance-sheet strength
Debt / equity
0.52x
Current ratio
2.09x
Quick ratio
1.26x
Total debt
$1.15B
Total cash
$66.82M
Growth
How the business has been compounding
Revenue TTM
$4.31B
Revenue 5Y CAGR
7.9%
EPS TTM
11.87
EPS 5Y CAGR
14.9%
Cash flow
How much cash the business throws off
Operating CF TTM
$485.54M
Free CF TTM
$128.35M
FCF margin
3.0%
Dividend
Shareholder payout
Yield
0.3%
Payout ratio
10.0%
Last ex-div date
2026-08-14