CPI Aerostructures Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
The quality light is red because several documented substance risks compound each other: operating cash flow has been negative throughout the past 18 months (FY2025: -$5.2 million, H1 2026: -$0.43 million) despite reported profits — exactly the pattern the traffic-light rules classify as persistently negative operating cash flow despite reported profit. Cash and available credit combined sit at only about $1.66 million against continuing outflow — a cash runway far short of the roughly four quarters the rules cite as a threshold. On top of that, Boeing's damages claim remains open with no reserve, tied to an existentially significant customer relationship (one customer, 53 percent of quarterly revenue). This is a judgment on the company's balance-sheet substance, not on the stock price or the timing of an entry — that call belongs to the scanners, not this light. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
CPI Aerostructures shows a genuine, but much smaller, operating recovery in 2026 than the headline gross margin (4.4 to 22.0 percent) suggests — adjusted for the Boeing A-10 base effect, roughly 5 percentage points of real improvement remain. But the reported profit isn't arriving as cash: operating cash flow has been negative throughout the past 18 months, cash sits at $835,875, the credit line is 92 percent drawn, and a $17 million stock-sale program (22.7 percent of market capitalization) stands ready as a dilution tool. Add an open Boeing damages claim with no reserve and a backlog that is over 80 percent unfunded. Not investment advice.
Operating recovery
Revenue grew to $34.9 million in the first half of 2026 (+14.3 percent vs. H1 2025), gross margin genuinely improved by about 5 percentage points (Q2 2026: 22.0 percent vs. an adjusted 17.1 percent in the prior-year quarter), and adjusted EBITDA in the second quarter of 2026 rose 132 percent versus the adjusted prior-year figure. A real, if smaller, step forward than the headline jump from 4.4 to 22.0 percent suggests.
Liquidity
Cash of just $835,875 as of June 30, 2026, with the revolving credit line 92 percent drawn (about $826,000 available) — a combined $1.66 million immediately available. A $17 million stock-sale program (22.7 percent of market capitalization) is loaded as a further capital source, but was unused as of June 30, 2026.
Cash flow quality
Despite net income of $1.92 million in the first half of 2026, operating cash flow stayed negative at -$0.43 million; in fiscal 2025 it was -$5.2 million on a loss of just -$0.84 million. Over 18 months, about $5.6 million of operating cash burn against roughly $1.1 million of reported profit — profit is not arriving as cash.
Customer concentration & legal risk
A single customer accounted for 53 percent of revenue in the second quarter of 2026. Boeing's damages claim from the A-10 program termination (July 2025) remains open and carries no reserve; the company disputes the claim and the outcome is uncertain.
Backlog resilience
The $533.1 million backlog (June 30, 2026) is only 18.8 percent funded and, by the company's own account, "subject to termination at will" — the A-10 case shows concretely how fast such a contract can disappear, damages claim included.
Balance-sheet and governance history
Three restatements from 2019 to 2021, an OTC Pink stint until March 2023, and a renewed covenant breach with a material weakness in the second quarter of 2025 (declared remediated as of December 31, 2025). No open SEC enforcement action, but a history that isn't even ten years old and most recently repeated just over a year ago.
Worth Noting
CVU landed on our research list through a contradiction in our in-house stock scanner: an Altman Z-Score of 1.23 (distress territory below 1.81) and a Piotroski F-Score of 1 of 9 (the worst possible category) on a stock trading practically at its 52-week high and up 50.9 percent over three months (data as of August 13, 2026).
Valuation figures are dated and evergreen: a market capitalization of roughly $75.0 million at a $5.66 price (52-week range $2.02 to $5.734), analyst price target $4.00 — each as of August 13, 2026, not a buy argument for the future.
The base effect (the A-10 termination in the prior-year quarter) is the central caveat on the margin jump; the current quarter (Q2 2026) itself contains no profit-flattering one-time items, but rather a negative adjustment of $676,503.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at CVU since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 2.10 $ to 5.90 $ · Last price: 5.00 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Aerospace & Defense
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| CPI Aerostructures Inc CVU | 0.1 | 40.9 | 15.0 | 22.5 | 10.5 | -14.6 | 98.0 |
| Space Exploration Technologies Corp. SPCX | 1,172.1 | – | 511.6 | 51.9 | – | – | – |
| GE Aerospace GE | 326.7 | 40.1 | 27.6 | 31.1 | 20.2 | 18.5 | 8.8 |
| RTX Corporation RTX | 254.2 | 36.5 | 18.5 | 20.3 | 13.2 | 9.7 | 24.1 |
| The Boeing Company BA | 155.3 | 78.7 | 25.5 | 4.7 | 1.7 | 34.5 | -8.2 |
| Lockheed Martin Corporation LMT | 124.1 | 26.0 | 13.6 | 11.8 | 11.0 | 5.7 | 16.7 |
| General Dynamics Corporation GD | 96.7 | 22.8 | 15.1 | 15.4 | 10.5 | 10.1 | 11.4 |
| Howmet Aerospace Inc HWM | 90.3 | 52.0 | 34.8 | 36.0 | 28.2 | 11.1 | 22.0 |
| Northrop Grumman Corporation NOC | 73.6 | 16.6 | 11.8 | 20.1 | 11.7 | 2.2 | -7.7 |
| Median of companies shown | 124.1 | 38.3 | 18.5 | 20.3 | 11.3 | 9.9 | 14.0 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 81 | -4 | -4 | -0.42 | -7 | 68 | 118 |
| 2017 | 81 | 10 | 6 | 0.65 | 2 | 74 | 124 |
| 2018 | 84 | 9 | 2 | 0.23 | -3 | 93 | 144 |
| 2019 | 88 | -5 | -7 | -0.57 | 0 | -8 | 44 |
| 2020 | 88 | -2 | -4 | -0.31 | -2 | -13 | 47 |
| 2021 | 103 | 3 | 7 | 0.56 | 3 | -5 | 55 |
| 2022 | 83 | 5 | 9 | 0.74 | 1 | 4 | 59 |
| 2023 | 86 | 6 | 17 | 1.38 | 4 | 22 | 74 |
| 2024 | 81 | 7 | 3 | 0.26 | 4 | 26 | 68 |
| 2025 | 69 | 0 | -1 | -0.07 | -5 | 26 | 75 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q2 | 0.00 | -100.00 | 21 | 1.30 | 6.80 | -1 | -1 |
| 2024: Q3 | 0.00 | – | 19 | -4.80 | 3.90 | 1 | 1 |
| 2024: Q4 | 0.08 | – | 22 | -7.40 | 4.50 | 4 | 4 |
| 2025: Q1 | -0.10 | -108.30 | 15 | -19.30 | -8.60 | -3 | -3 |
| 2025: Q2 | -0.10 | – | 15 | -27.10 | -8.70 | -1 | -1 |
| 2025: Q3 | 0.09 | – | 19 | -0.80 | 5.80 | 0 | 0 |
| 2025: Q4 | – | – | 19 | -10.80 | 3.60 | -2 | -2 |
| 2026: Q1 | 0.00 | 100.00 | 17 | 12.70 | 7.10 | 0 | -1 |
| 2026: Q2 | 0.05 | 150.00 | 18 | 15.80 | 4.00 | 0 | 0 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 12 of our scanner strategies — each hit links to the scanner.
Growth
Breakout & Setup
Momentum & Trend
- 21-EMA Trend
- Above the 50- & 200-SMA
- High ADR (≥5%)
- Mark Minervini: Trend Criteria — 1 Month
- Near 52-Week High
- Stan Weinstein: Checklist
- Stan Weinstein: Stage 2
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
CPI Aerostructures verkauft keine KI-Produkte, nennt keinen KI-gestützten Fertigungsprozess und beschreibt künstliche Intelligenz auch nicht als Bedrohung des eigenen Geschäftsmodells. Die einzigen Nennungen stehen als allgemeine Technologie- und Cyberrisiko-Klausel im Risikoteil des Geschäftsberichts 10-K für 2025; in beiden Quartalsberichten des Jahres 2026 (30.06.2026 und 31.03.2026) und im Proxy-Statement DEF 14A vom 31.07.2026 kommt KI überhaupt nicht vor. Das Geschäft bleibt die Fertigung von Strukturbaugruppen zu Festpreisen für Rüstungskonzerne.
View the full file — quotes, sources, reviewed filings
„Cybersecurity incidents, system failures and technological changes, including developments in machine learning and generative artificial intelligence, could adversely affect our business and operations."
Cybersicherheitsvorfälle, Systemausfälle und technologische Veränderungen — einschließlich Entwicklungen bei maschinellem Lernen und generativer künstlicher Intelligenz — könnten unser Geschäft und unseren Betrieb beeinträchtigen.
Geschäftsbericht 10-K für 2025, Item 1A Risk Factors · 2026-03-31 · View SEC filing
„We also face risks associated with technological change, including the increasing use of machine learning and generative artificial intelligence technologies in business operations. The adoption of new technologies may introduce operational, cybersecurity, intellectual property, regulatory or reputational risks."
Wir sind außerdem Risiken durch technologischen Wandel ausgesetzt, darunter der zunehmende Einsatz von Technologien des maschinellen Lernens und der generativen künstlichen Intelligenz im Geschäftsbetrieb. Die Einführung neuer Technologien kann operative, Cybersicherheits-, Schutzrechts-, regulatorische oder Reputationsrisiken mit sich bringen.
Geschäftsbericht 10-K für 2025, Item 1A Risk Factors (Fortsetzung desselben Risikofaktors) · 2026-03-31 · View SEC filing
Filings Reviewed: Geschäftsbericht 10-K für 2025 2026-03-31 · Quartalsbericht 10-Q zum 31.03.2026 2026-05-15 · Quartalsbericht 10-Q zum 30.06.2026 2026-08-13 · Geschäftsbericht 10-K für 2023 2024-04-08 · Proxy-Statement DEF 14A 2026 2026-07-31
Rated on August 14, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -6.0%
- More than 10% revenue growth is expected for the coming year no data
- Share count grows by less than 3% a year 1.1%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -22.2%
- Gross margin at 40% or higher and without meaningful erosion 15.2%
- Goodwill from acquisitions does not grow faster than revenue 2.4%
- Net debt below twice EBITDA 111.2 x EBITDA
- Operating cash flow covers the profits of the last three years -17 m
- Return on capital at 15% or higher, or up versus two years ago -0.3%
- Insiders hold at least 10% or are net buyers 22.4%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
0/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% -1.8%
- Exp. sales growth 3Y > 5% –
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% –
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 6
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% -3.5%
- ROCE > 15% -0.3%
- Expected return > 10% –
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
The company
About the Company
CPI Aerostructures, Inc. engages in the contract production of structural aircraft assemblies for fixed wing aircraft and helicopters in the commercial and defense markets. The company offers aerostructures products and services, including new production and repair/overhaul of fielded wing structures and other control surfaces, rudder island/drag chute canisters, engine inlets/nacelles, engine exhaust manifolds, aircraft doors and windows, aircraft steps and racks, and other aircraft secondary structures; aero system products and services, such as airborne pod structures and integration of internal systems, radar housing structures, and integrated radar housing rack systems. It also provides diameter tube bending products and services comprising complex ducts and tubes in steel, aluminum, titanium, and nickel alloys; fusion welded fluid tanks, aerial refueling probes, plenums, tubes and ducts, and resistance welding; and wire harnesses, power control systems, fuel management systems, power distribution systems, fully integrated electrical control systems, and RF enclosures. In addition, the company offers engineering, program management, supply chain management, and kitting, as well as maintenance, repair, and overhaul services. Its products are used in the production and refurbishment of fixed wing aircraft, helicopters, and electronic warfare systems; intelligence, surveillance, and reconnaissance systems; missiles; autonomous systems; and other sophisticated aerospace and defense products. The company was formerly known as Consortium of Precision Industries, Inc. and changed its name to CPI Aerostructures, Inc. in July 1992. CPI Aerostructures, Inc. was incorporated in 1980 and is headquartered in Edgewood, New York.
- Employees
- 192
- Headquarters
- Edgewood, NY
- Address
- 91 Heartland Boulevard, 11717 Edgewood, United States
- Phone
- 631 586 5200
- Website
- cpiaero.com
- IPO Date
- 09/16/1992
- ISIN
- US1259193084
- Stock Split
- 1:3 on 06/23/1999
Management
| Name | Title | Birth Year |
|---|---|---|
| Dorith Hakim | CEO, President & Director | 1965 |
| Robert Mannix | CFO & Secretary | 1968 |
| April Galena | Vice President of Human Resources & Administration | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.