Review of Magellan Aerospace Corporation

JAN 29, 2026 - Coming out of the pandemic, the supply chain in the commercial aircraft manufacturing market has gradually recovered and has now become more stable. As a result of this momentum, MAL has achieved record gross margins, accelerated topline growth, and valuation multiple expansion, while also raising dividends. MAL is expected to continue benefiting from healthy aircraft demand, supported by production backlogs at Boeing and Airbus representing roughly 10 years of output. Given the improving prospects and sustained business momentum, we are open to an upgrade if the company can continue to deliver strong results. For now, to remain conservative, we are maintaining our rating at “B.”