Moog (MOG) investor relations material

Executive summary

• Achieved record fourth quarter and full-year results in sales, margin, and earnings, with over $1 billion in Q4 sales and a $3 billion 12-month backlog, driven by strong growth, operational improvements, and simplification initiatives.

• Orders, backlog, and sales increased 36%, 20%, and 7% respectively year-over-year, with major contract wins in defense and aerospace, and expanded presence in Australia and Europe.

• All major segments—Commercial Aircraft, Space and Defense, Military Aircraft—set quarterly sales records, with notable growth in each.

• Secured customer awards for operational excellence and opened a new training center.

Financial highlights

• FY 2025 sales reached $3.9 billion, up 7% year-over-year, with Q4 sales of $1.05 billion, up 14%.

• Adjusted operating margin for FY 2025 was 13.0%, up 30 basis points; Q4 adjusted operating margin was 13.7%.

• Adjusted EPS for FY 2025 was $8.69, up 11% year-over-year; Q4 adjusted EPS was $2.56, up from $2.15.

• Free cash flow for FY 2025 was $128 million, with Q4 free cash flow of $199 million and a full-year conversion rate of 46%.

• Capital expenditures for FY 2025 were $145 million, projected to rise to $160 million in FY 2026.

Outlook and guidance

• FY 2026 sales projected at $4.2 billion, a 9% increase over FY 2025, with adjusted operating margin expected at 13.4%.

• Adjusted EPS forecasted at $10.00 ±$0.20, up 15%, and free cash flow conversion targeted at 60%.

• Largest sales growth anticipated in commercial aircraft (15%), space and defense (11%), and military aircraft (7%).

• Tariff pressure expected to increase to 80 bps in 2026, up from 50 bps in 2025.