Moog Inc. reported year-over-year revenue growth of 15% for its fiscal 2026, exceeding guidance given at its June 2023 investor day, and said it expects full-year sales to rise another 14% from 2025. The East Aurora, N.Y.-based manufacturer of motion and fluid control systems, which marks its 75th anniversary this year, disclosed a total backlog of $7.1 billion, including a 12-month backlog of $3.3 billion — a 23% increase.
Pat Roche, Moog's president and CEO, told analysts at the Jefferies Global Industrials Conference 2026 that three-year compound annual growth has come in at roughly 9%, above the 5% to 7% range projected three years ago. The company's market capitalization stands at approximately $11.6 billion, with shares returning 86% over the past year.
Moog's Space and Defense group is projected to generate about $1.1 billion in fiscal 2026 revenue, split roughly 60% defense and 40% space. Missile-related sales reached approximately $275 million and are growing at a rate exceeding 20% year over year, Roche said. He described missile programs as among the highest-priority spending areas for the U.S. government.
"Certainly the conversations we're having with our customers are not about if, but about how quickly you can ramp," Roche said.
Ground-vehicle revenue exceeded $300 million, while space components were estimated at about $250 million. The company supplies motion-control and fluid-control systems for programs including the F-35, V-280 tiltrotor, Artemis, and multiple missile defense platforms.
On the commercial side, tariff exposure is weighing on Moog's aircraft business by roughly 200 basis points on margins, according to CFO Jennifer Walter. The company's European defense position is expected to benefit from NATO-driven spending increases through 2030. Low-rate initial production of the V-280 is anticipated in the late 2020s, with volume production expected from 2030 onward.
In its Industrial segment, which comprises automation (about 45%), medical applications (25%), and flight-test, automotive simulation and energy activities, data-center cooling pump sales accelerated sharply — rising from $25 million last fiscal year to nearly $100 million in fiscal 2026, with production quadrupling within 12 months. The company also opened a new manufacturing line in India for data-center cooling pumps and is relocating operations from its Reading, U.K. site back to the United States.
Marginal improvement has averaged about 100 basis points per year over the past three years, with the industrial segment running in the mid-teens on an ongoing basis. Capital spending runs at roughly twice the level of peer companies, and Moog has invested $6 million in a training center at its headquarters to shorten machinist ramp time from six months to four.
Moog also cut the ribbon on its 150,000-square-foot Advanced Integrated Manufacturing facility in East Aurora in August 2026. The facility houses six machining centers with robotic loading and unloading, integrated in-process measurement and climate-controlled conditions. About two-thirds of the equipment is in place; 200 products are already running, and Moog plans to transfer 1,500 additional products by October 27.
Roche characterized the company's five-year outlook as aiming to be "a bigger and stronger company than it is today," adding that management has demonstrated it can drive organizational transformation since the June 2023 investor day.
