How much a stock's price changes over time is a significant driver for most investors. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well.
Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.
What if you'd invested in ATI (ATI) ten years ago? It may not have been easy to hold on to ATI for all that time, but if you did, how much would your investment be worth today?
ATI's Business In-Depth
With that in mind, let's take a look at ATI's main business drivers.
Pittsburgh, PA-based ATI Inc. is a diversified specialty materials producer. The company was created in November 1999 when Allegheny Teledyne spun out Teledyne Technologies and Water Pik Technologies into standalone companies.
ATI originally had three main business segments: Flat-Rolled Products (FRP), High Performance Metals and Engineered Products. However, the company, in October 2013, announced the restructuring of its Engineered Products segment.
The restructuring includes the integration of the specialty steel forgings business into ATI Ladish’s forgings operations in the High-Performance Metals and Components division and the integration of the precision titanium and specialty alloy flat-rolled finishing business into ATI Allegheny Ludlum’s specialty plate business in the Flat-Rolled Products segment. Other businesses that comprise the Engineered Products division have been classified as discontinued operations, including the tungsten materials business and the iron castings and fabricated components businesses.
ATI completed the sale of its tungsten materials business to Latrobe, PA-based wear-resistant products company Kennametal Inc. for $605 million. The company started operating under two revised business segments: High-Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S), effective Jan. 1, 2020.
The AA&S segment (46.8% of 2025 sales) is focused on delivering high-value flat products, mainly to the energy, aerospace, and defense end-markets that account for around 50% of its revenues. It combines the Specialty Alloys & Components business with the company’s former FRP business segment that included the FRP business, the 60%-owned STAL joint venture and the Uniti and A&T Stainless 50%-owned joint ventures.
The HPMC segment (53.2%) consists of specialty materials and forged products businesses and ATI Europe distribution operations. The segment is primarily focused on maximizing aero-engine materials and components growth. Nearly 80% of its revenues are derived from the aerospace and defense markets.
Bottom Line
While anyone can invest, building a lucrative investment portfolio takes research, patience, and a little bit of risk. If you had invested in ATI ten years ago, you're probably feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in August 2016 would be worth $11,596.18, or a gain of 1,059.62%, as of August 5, 2026, and this return excludes dividends but includes price increases.
The S&P 500 rose 257.47% and the price of gold increased 188.10% over the same time frame in comparison.
Analysts are forecasting more upside for ATI too.
ATI's earnings beat the Zacks Consensus Estimate in the first quarter of 2026, while revenues missed. It is well-positioned for sustained growth, supported by strong momentum in the aerospace and defense markets and a record $4.1 billion backlog, which provides excellent revenue visibility. The company expects EBITDA margins to improve as higher aerospace volumes, Airbus production ramp-ups and growing isothermal forging demand drive performance. Weekly output at its primary melt facilities increased year over year, while the $1.2 billion Hot-Rolling and Processing Facility, with an annual capacity of 1.9 million tons, is enhancing efficiency and lowering costs. Continued investments in automation, AI-enabled maintenance and high-value aerospace, defense and specialty energy markets further strengthen ATI's long-term growth outlook.
The stock is up 9.22% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 2 higher, for fiscal 2026. The consensus estimate has moved up as well.
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This article originally published on Zacks Investment Research (zacks.com).