ATS Industrials

ATS Corporation

$18.96-0.05%

Price as of close on Nov 3, 2026 · Financials updated Nov 1, 2026

Basics

Sector: Industrials
Industry: Specialty Industrial Machinery
Country: Canada
Market cap: 1.9B USD
Enterprise value: 2.5B USD
Full-time employees: 7,000

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.12 vs a peer median of 0.64)higher risk: bigger price swings (beta 1.12 vs peers 0.64)

Ranks #1,016 of 2,308 industrials companies (top 45%)

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
ATS made a profit per share in its latest year after a loss the year before.
Valuation signals disagree. Cheaper than 91% of peers on free cash flow, but only 39% on earnings.
Relative to its free cash flow, ATS looks cheaper than 91% of peers; relative to its earnings, cheaper than only 39%. The valuation score blends the two, so look at which measure fits this business best.
Sales growing faster than profits. Since FY Mar 2023: revenue +15%, operating profit −11%.
Since FY Mar 2023, ATS's revenue changed +15% while operating profit fell 11%: costs rose faster than sales.
Cash flow well above reported profit. Free cash flow is 5.8× reported profit.
Free cash flow is 5.8× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

StockQuotient Score

54/ 100▲ 1 since Oct 27 close

Oct 5 54 → Nov 4 54

Valuation

Is the price right?

66/100

Moderate

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Stronger than most peers on:

▲ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.7%

SEC filings (IFRS mapped) · 12 months to Mar 2026 · CAD→USD at the current rateReported value30% base weight · Z-score -0.36Sector median: 0.0377 · MAD: 0.0294

EBITDA yield7.9%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 months · CAD→USD convertedReported value50% base weight · Z-score 0.23Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield15.8%

SEC filings (IFRS mapped) · 12 months to Mar 2026 · CAD→USD at the current rate · operating cash flow − capital spendingReported value20% base weight · Z-score 3.27Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield67.7%

SEC filings (IFRS mapped) · latest balance sheet · CAD→USD at the current rateReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

86/100

Strong

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 17.4%

Why

Stronger than most peers on:

▲ EPS growth
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a loss to a profit33% base weight · Z-score 3.41Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth4.9%

SEC filings (IFRS mapped) · 3 years to Mar 2026Reported value33% base weight · Z-score 0.11Sector median: 0.0421 · MAD: 0.0625

Revenue growth17.4%

SEC filings (IFRS mapped) · 12 months to Mar 2026Reported value33% base weight · Z-score 1.69Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

35/100

Weak

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

Turned profitable over the last 12 months
Operating margin rose 6.3 points to 6.7%
Free cash flow turned positive over the last 12 months

Why

Weaker than most peers on:

▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin6.7%

SEC filings (IFRS mapped) · 12 months to Mar 2026Reported value33% base weight · Z-score -0.21Sector median: 0.0773 · MAD: 0.0507

Return on assets1.7%

SEC filings (IFRS mapped) · 12 months to Mar 2026Reported value33% base weight · Z-score -0.60Sector median: 0.0311 · MAD: 0.0241

Return on invested capital5.7%

SEC filings (IFRS mapped) · 12 months to Mar 2026Reported value33% base weight · Z-score -0.27Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin28.6%

SEC filings (IFRS mapped) · 12 months to Mar 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity4.0%

SEC filings (IFRS mapped) · 12 months to Mar 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last year: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 27 → 28

Company's reported figures updated+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.12

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.73Sector median: 0.6440 · MAD: 0.2745

Current ratio1.64×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 0.05Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.72×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -0.94Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about ATS

Is ATS getting weaker?: Its latest SEC filing (May 28, 2026) got stronger: turned profitable over the last 12 months; operating margin rose 6.3 points to 6.7%. Its overall score is 54/100, up 1 since Oct 28, 2026.
How is ATS valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 66/100 against 2,459 industrials peers. Free cash flow yield 15.8% vs a peer median of 3.7% (stronger than 91% of peers).Free cash flow yield 15.8% vs peers 3.7% (stronger than 91% of peers). Earnings yield 2.7% vs a peer median of 3.8% (weaker than 61% of peers).Earnings yield 2.7% vs peers 3.8% (weaker than 61% of peers).
Is ATS growing?: Yes, faster than most of its peers. Growth scores 86/100 against 2,459 industrials peers. Revenue growth 17.4% vs a peer median of 4.4% (stronger than 83% of peers).Revenue growth 17.4% vs peers 4.4% (stronger than 83% of peers).
How profitable is ATS?: Less profitable than most of its peers. Profitability scores 35/100 against 2,459 industrials peers. Return on assets 1.7% vs a peer median of 3.1% (weaker than 66% of peers).Return on assets 1.7% vs peers 3.1% (weaker than 66% of peers).
How risky is ATS?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.12 vs a peer median of 0.64 (weaker than 81% of peers).Beta 1.12 vs peers 0.64 (weaker than 81% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Mar 31, 2026 · filed May 28, 2026 · compared with the year ended Mar 31, 2025

Got stronger

Turned profitable over the last 12 months
Operating margin rose 6.3 points to 6.7%
Free cash flow turned positive over the last 12 months

	Previous year	Latest year	Change
Revenue (12 months)	2.5B CAD	3.0B CAD	+17.4%
Net income (12 months)	−28.0M CAD	71.6M CAD	turned positive
Operating margin	0.4%	6.7%	+6.3 pts
Free cash flow (12 months)	−8.2M CAD	414.7M CAD	turned positive
Debt	1.6B CAD	1.3B CAD	−18.4%
Cash	225.9M CAD	285.0M CAD	+26.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in CAD, as reported

Key ratios	FY Mar 2023	FY Mar 2024	FY Mar 2025	FY Mar 2026	Change
Gross margin	28.2%	28.2%	25.5%	28.6%	▲ 3.1 pts
Operating margin	8.6%	10.4%	0.4%	6.7%	▲ 6.3 pts
Net margin	4.9%	6.4%	-1.1%	2.4%	▲ 3.5 pts
Return on assets (ROA)	3.6%	4.7%	-0.6%	1.7%	▲ 2.3 pts
Return on equity (ROE)	11.3%	11.5%	-1.6%	4.0%	▲ 5.7 pts
Free cash flow margin	2.8%	-1.3%	-0.3%	14.0%	▲ 14 pts
Current ratio	1.39×	1.70×	1.69×	1.64×	▼ 2.9%
Quick ratio	1.15×	1.42×	1.41×	1.36×	▼ 3.5%
Debt to equity	1.03×	0.70×	0.92×	0.72×	▼ 22%
Interest coverage	3.67×	4.84×	0.10×	2.12×	▲ >999%

ATS price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.12 vs a peer median of 0.64)higher risk: bigger price swings (beta 1.12 vs peers 0.64)

Ranks #1,016 of 2,308 industrials companies (top 45%)

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

ATS made a profit per share in its latest year after a loss the year before.

Valuation signals disagree. Cheaper than 91% of peers on free cash flow, but only 39% on earnings.

Relative to its free cash flow, ATS looks cheaper than 91% of peers; relative to its earnings, cheaper than only 39%. The valuation score blends the two, so look at which measure fits this business best.

Sales growing faster than profits. Since FY Mar 2023: revenue +15%, operating profit −11%.

Since FY Mar 2023, ATS's revenue changed +15% while operating profit fell 11%: costs rose faster than sales.

Cash flow well above reported profit. Free cash flow is 5.8× reported profit.

Free cash flow is 5.8× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Questions investors ask about ATS

Is ATS getting weaker?

Its latest SEC filing (May 28, 2026) got stronger: turned profitable over the last 12 months; operating margin rose 6.3 points to 6.7%. Its overall score is 54/100, up 1 since Oct 28, 2026.

How is ATS valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 66/100 against 2,459 industrials peers. Free cash flow yield 15.8% vs a peer median of 3.7% (stronger than 91% of peers).Free cash flow yield 15.8% vs peers 3.7% (stronger than 91% of peers). Earnings yield 2.7% vs a peer median of 3.8% (weaker than 61% of peers).Earnings yield 2.7% vs peers 3.8% (weaker than 61% of peers).

Is ATS growing?

Yes, faster than most of its peers. Growth scores 86/100 against 2,459 industrials peers. Revenue growth 17.4% vs a peer median of 4.4% (stronger than 83% of peers).Revenue growth 17.4% vs peers 4.4% (stronger than 83% of peers).

How profitable is ATS?

Less profitable than most of its peers. Profitability scores 35/100 against 2,459 industrials peers. Return on assets 1.7% vs a peer median of 3.1% (weaker than 66% of peers).Return on assets 1.7% vs peers 3.1% (weaker than 66% of peers).

How risky is ATS?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.12 vs a peer median of 0.64 (weaker than 81% of peers).Beta 1.12 vs peers 0.64 (weaker than 81% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

2.5B CAD

3.0B CAD

+17.4%

Net income (12 months)

−28.0M CAD

71.6M CAD

turned positive

Operating margin

0.4%

6.7%

+6.3 pts

Free cash flow (12 months)

−8.2M CAD

414.7M CAD

turned positive

Debt

1.6B CAD

1.3B CAD

−18.4%

Cash

225.9M CAD

285.0M CAD

+26.1%

Key ratios

FY Mar 2023

FY Mar 2024

FY Mar 2025

FY Mar 2026

Change

Gross margin

28.2%

25.5%

28.6%

▲ 3.1 pts

Operating margin

8.6%

10.4%

0.4%

6.7%

▲ 6.3 pts

Net margin

4.9%

6.4%

-1.1%

2.4%

▲ 3.5 pts

Return on assets (ROA)

3.6%

4.7%

-0.6%

1.7%

▲ 2.3 pts

Return on equity (ROE)

11.3%

11.5%

-1.6%

4.0%

▲ 5.7 pts

Free cash flow margin

2.8%

-1.3%

-0.3%

14.0%

▲ 14 pts

Current ratio

1.39×

1.70×

1.69×

1.64×

▼ 2.9%

Quick ratio

1.15×

1.42×

1.41×

1.36×

▼ 3.5%

Debt to equity

1.03×

0.70×

0.92×

0.72×

▼ 22%

Interest coverage

3.67×

4.84×

0.10×

2.12×

▲ >999%