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Backlog by Segment
Represents the value of pending orders in each segment, offering a view of future revenue potential and demand strength for specific business areas.Aerospace backlog is clearly the company’s growth engine, driving the record overall backlog and giving solid revenue visibility that supports 2026 guidance and margin goals; however the build is lumpy, so execution and conversion risk matters. Test Systems backlog remains modest and volatile, so its margin recovery depends on the Army 4549T ramp rather than steady commercial demand. Strong bookings/book‑to‑bill are reassuring, but higher capex/ERP spending and elevated net debt raise near‑term cash‑conversion and execution risks.
Date | Aerospace | Test Systems |
|---|---|---|
Jun 30, 2026 | $657.21M | $123.35M |
Mar 31, 2026 | $651.36M | $82.96M |
Dec 31, 2025 | $600.80M | $73.69M |
Sep 30, 2025 | $572.46M | $74.26M |
Jun 30, 2025 | $570.91M | $74.45M |
Mar 31, 2025 | $613.90M | $59.12M |
Dec 31, 2024 | $537.56M | $61.67M |
Sep 30, 2024 | $543.64M | $68.23M |
Jun 30, 2024 | $547.62M | $78.77M |
Mar 31, 2024 | $532.05M | $73.59M |