ATRO · CIK 0000008063
What Astronics Corporation told the SEC could break it.
2 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
A limited set so far, we surface every cited disclosure we’ve extracted for ATRO. More may follow as additional filings are processed.
In its own words
What could break it.
Regulatory & policy
- U.S. government / military-spending dependence — ~15% of 2025 sales to government-related markets; military aerospace 13.5%, subject to appropriations and contract terminationmedium
Approximately 15% of Astronics's 2025 consolidated sales were made to U.S. government-related markets, with the military aerospace market alone ~13.5% ($116.3M). It states its revenue stream relies on military spending, that military demand depends on year-to-year governmental funding (which can be reduced, with programs eliminated), and that government contracts may be terminated at the government's election. Defense-appropriations cuts, a budget impasse/CR, or program cancellations would directly reduce a meaningful slice of revenue. A specific government-funding/defense-policy exposure.
“Approximately 15% of our 2025 consolidated sales were made to U.S. government-related markets.”
SEC filing →As of 2026 - IEEPA tariff exposure — Astronics paid IEEPA tariffs whose refund (after the tariffs were invalidated) is uncertainlow
Astronics imports raw materials and components (and sources from countries including China/Taiwan) and was subject to U.S. tariffs imposed under the International Emergency Economic Powers Act (IEEPA). After those tariffs were invalidated, the company states it is unclear if or when refunds will be issued for IEEPA tariffs it previously paid, leaving both the recovery of paid duties and the go-forward tariff regime uncertain. Combined with geopolitical sourcing risk (Russia/Ukraine, China/Taiwan export controls), this is a specific, current trade-policy exposure on its aerospace supply chain. A bounded tariff/import-policy exposure.
“if or when refunds will be issued for IEEPA tariffs previously paid by the Company”
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
“The Company has a significant concentration of business with The Boeing Company”
Cited →
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