Why it’s on the map
Specialty titanium/nickel alloys; 68% aerospace & defense, defense sales +90% YoY; backlog $4.4B; FY26 EBITDA guide raised.
Government money & contracts
Direct DoD supply chain.
Customers & commercial
Lockheed, RTX, GE Aerospace.
Catalysts
Q3; defense ramp.
Risk
Valuation after +170%; commercial aero cycle.
Tariff durability
Defense-led, nearly tariff-insulated.