TAT Technologies Ltd.
- Open
- 36.51
- Day high
- 36.73
- Day low
- 36.00
- Prev close
- 36.30
- Volume
- 78K
- Mkt cap
- $472M
- P/E (TTM)
- 22.4
- EPS (TTM)
- $1.62
- P/B
- 2.5
- P/S
- 2.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$227K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions reducing (13F)
TAT Technologies Ltd. (TATT) is a Industrials company listed on NASDAQ. The stock is up 4% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
TAT Technologies Ltd. (TATT) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TATT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $0.30 | $0.61 | +103.3% | $53M | +18.0% |
| May 20, 2026 | $0.19 | $0.26 | +36.8% | $41M | +2.2% |
| Mar 19, 2026 | $0.39 | $0.36 | -8.2% | $47M | -3.1% |
| Nov 12, 2025 | $0.40 | $0.37 | -7.5% | $46M | -3.8% |
| May 19, 2025 | $0.30 | $0.34 | +12.6% | $42M | -3.0% |
| Mar 26, 2025 | $0.29 | $0.32 | +10.3% | $41M | +8.0% |
| Nov 18, 2024 | — | $0.26 | — | $40M | — |
| Aug 28, 2024 | — | $0.25 | — | $37M | — |
| May 22, 2024 | — | $0.19 | — | $34M | — |
| Mar 6, 2024 | — | $0.04 | — | $32M | — |
| Nov 13, 2023 | — | $0.24 | — | $30M | — |
| Aug 29, 2023 | — | $0.15 | — | $27M | — |
TATT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 22, 2026 | Maness Paulother: TAT Tulsa General Manager | Option | 5,000 | $14.16 |
| Jun 22, 2026 | Maness Paulother: TAT Tulsa General Manager | Sell | 5,000 | $45.41 |
| Jun 2, 2026 | Lewandowski Jasonofficer: Chief Operating Officer | Option | 3,125 | $6.59 |
| Jun 2, 2026 | Lewandowski Jasonofficer: Chief Operating Officer | Sell | 3,125 | $41.14 |
| May 28, 2026 | Lewandowski Jasonofficer: Chief Operating Officer | Option | 3,125 | $6.59 |
| May 28, 2026 | Lewandowski Jasonofficer: Chief Operating Officer | Sell | 3,125 | $39.22 |
Source: TATT SEC Form 4 filings, latest Jun 22, 2026. For informational purposes only — not investment advice.
See the full TATT insider & 13F page →TAT Technologies Ltd. company profile
Overview
TAT Technologies Ltd. (NASDAQ:TATT) is an Israeli aerospace and defense company founded in 1969 and headquartered in Netanya, Israel. Originally incorporated as Galagraph Ltd., the company changed its name to TAT Technologies in May 1992 and went public in 1987. TAT has evolved from its origins into a specialized provider of critical components and services for the global aerospace industry, serving both commercial and military aviation markets as well as ground defense applications across the United States, Israel, and international markets.
Business
TAT Technologies operates in the aerospace and defense industry, providing essential components and maintenance services that keep aircraft flying safely and efficiently. The company's business is organized around four main segments that collectively generated $152.1 million in revenue for 2024: Heat Transfer Solutions (42% of revenue - $63.2M in 2024): This segment designs and manufactures heat exchangers, which are critical components that manage temperature in aircraft systems. These devices transfer heat between different fluids or air streams to prevent overheating of engines, electronics, and hydraulic systems. TAT produces pre-coolers, oil/fuel hydraulic heat exchangers, and environmental control systems used in commercial, military, and business aircraft. Heat exchangers are essential safety components - without proper cooling, aircraft engines and electronic systems would fail catastrophically. Auxiliary Power Unit (APU) Services (28% of revenue - $43.3M in 2024): APUs are small jet engines mounted in the tail of most commercial aircraft that provide electrical power and compressed air when the main engines are shut down, such as during ground operations at airports. TAT provides maintenance, repair, and overhaul (MRO) services for these units, essentially rebuilding them to like-new condition when they wear out. The company is expanding its capabilities to service newer APU models including the 131 and 500 series used on popular aircraft like the Boeing 737 and Airbus A320 families. Trading and Leasing (9% of revenue - $13.9M in 2024): This segment involves buying, selling, and leasing used aircraft parts and components. When airlines retire aircraft or need parts quickly, TAT can provide components from its inventory or help source them from other operators. This business is more opportunistic and transaction-based compared to the manufacturing segments. Landing Gear Services (remaining revenue): TAT provides overhaul and maintenance services for aircraft landing gear systems - the wheels, struts, and hydraulic systems that allow planes to take off and land safely. This segment has faced supply chain challenges but is expected to see growth from 2026-2028 as older aircraft require more maintenance.
Revenue model
TAT Technologies generates revenue through a combination of manufacturing sales and service contracts. The company operates under two primary business models that reflect the different needs of its aerospace customers. For its manufacturing operations, particularly heat transfer solutions, TAT sells products directly to aircraft manufacturers (OEMs) like Boeing and Airbus, as well as to airlines and maintenance providers who need replacement parts. These sales generate immediate revenue when products are delivered, though the sales cycle can be long due to the extensive certification requirements in aerospace. The MRO (Maintenance, Repair, and Overhaul) services represent a more recurring revenue model. Airlines and aircraft operators must regularly service critical components like APUs, heat exchangers, and landing gear to maintain airworthiness certificates. TAT contracts with airlines, cargo carriers, and military operators to provide these services on either a scheduled basis or as-needed. Some customers have long-term contracts with predetermined pricing indexed to material and labor costs, while others negotiate pricing case-by-case. Several factors significantly impact TAT's margins and profitability. The company benefits from the highly regulated nature of aerospace, where certified suppliers like TAT face limited competition once established with customers. However, supply chain disruptions - particularly for raw materials and electronic components - can squeeze margins and delay deliveries. TAT has strategically invested in inventory to mitigate these challenges. Labor costs and skilled technician availability also affect margins, as aerospace work requires specialized training and certification. The cyclical nature of commercial aviation affects demand, though the long replacement cycles of aircraft components provide some stability. Currency fluctuations impact costs since TAT operates globally but reports in dollars. The company targets gross margins above 25% and EBITDA margins above 15% as it scales operations and improves efficiency.
Competitive moat
TAT Technologies operates in a niche industry with several protective characteristics, though its moat is moderate rather than insurmountable. The aerospace industry's stringent regulatory environment creates significant barriers to entry - all components must meet rigorous safety standards and undergo extensive testing and certification processes that can take years and cost millions of dollars. Once a supplier like TAT is certified and integrated into an aircraft program, switching costs for customers are extremely high due to recertification requirements and the critical nature of the components. The company's specialized technical expertise in heat transfer solutions and APU services represents accumulated knowledge that would be difficult for new entrants to replicate quickly. TAT has decades of experience with specific aircraft models and has built relationships with major airlines and OEMs. The relatively small size of many of TAT's market segments (often serving just 1-5 competitors per product area) means there's limited economic incentive for large players to enter. However, TAT's moat faces several vulnerabilities. The company competes directly with much larger OEMs like Honeywell, which have greater resources for research and development and can potentially integrate TAT's functions in-house. The aftermarket nature of much of TAT's business means it's dependent on decisions by aircraft manufacturers and airlines who could choose to source services elsewhere or develop internal capabilities. New aircraft designs could potentially obsolete some of TAT's existing product lines, requiring continuous investment in new capabilities. Additionally, the company's relatively small size (under $300 million market cap) limits its ability to invest in next-generation technologies compared to aerospace giants. The moat exists but requires constant reinforcement through operational excellence and strategic investments to maintain competitive positioning.
Risks & safety
TAT Technologies presents a moderate margin of safety profile with some concerning cash flow dynamics but reasonable debt levels and improving profitability metrics. Liquidity and Solvency: • Cash position of $7.1 million is relatively low for operations • Current ratio of 2.97x indicates good short-term liquidity coverage • Debt-to-equity ratio of 0.18x shows conservative debt management • However, negative operating cash flow of -$5.8 million and free cash flow of -$10.9 million for 2024 raise concerns about cash generation Valuation Metrics: • Trading at 23.8x P/E ratio based on 2024 earnings, which appears reasonable for a growing aerospace company • EV/EBITDA of 15.9x is elevated but not excessive given the growth trajectory • Price-to-book ratio of 2.38x suggests modest premium to book value • Graham number of 16.18 compared to current price of $25.90 indicates potential overvaluation by traditional value metrics Other Considerations: • Revenue growth of 34% in 2024 and improving margins provide positive momentum • Backlog of $429 million provides revenue visibility • Strong balance sheet with $163 million in total assets vs $51 million in liabilities • Working capital buildup appears strategic for supply chain management but impacts cash flow
Recent development
Over the past few years, TAT Technologies has executed a focused growth strategy centered on expanding its capabilities in high-demand aerospace segments while improving operational efficiency. The company has made significant investments in strategic inventory to address industry-wide supply chain challenges, which has temporarily impacted cash flow but positioned TAT to meet customer demand more reliably than competitors. A key strategic initiative has been the expansion of APU service capabilities, particularly for newer engine models like the 131 and 500 series used on popular narrow-body aircraft including the Boeing 737 and Airbus A320 families. Rather than immediately pursuing large fixed-price contracts, management has taken a measured approach of handling one-off deals to build operational expertise and develop accurate financial models before committing to larger agreements. The company has also strengthened its trading and leasing operations, which grew from $6.2 million in 2022 to $13.9 million in 2024. This segment provides higher-margin opportunities and helps TAT capitalize on the robust demand for used aircraft components. Management has indicated plans to expand geographically, particularly targeting growth in the Asia-Pacific region and increasing visibility in North American markets. Operationally, TAT has focused on margin improvement through infrastructure investments, employee training, and operational efficiency initiatives. The company successfully increased gross margins from 19.7% in 2023 to 21.7% in 2024, with management targeting margins above 25% longer-term. The heat exchanger business has been particularly strong, nearly doubling revenue from $33.1 million in 2022 to $63.2 million in 2024, benefiting from the commercial aviation recovery and TAT's market position in this specialized niche.
TATT company profile · for informational purposes only — not investment advice.
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