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Price · 180d
$308.17
Thesis
Huntington Ingalls is the largest U.S. military shipbuilder and the sole or co-source for every major Navy combatant program that matters — carriers, ballistic-missile subs, attack subs, and big-deck amphibs. There is no substitute supplier and no realistic path to one this decade.
The yards are capital-intensive and labor-constrained, which caps near-term margins, but it also entrenches the moat: the Navy is bottlenecked on HII's throughput, not on its order book.
Catalysts
- Submarine industrial-base investment to lift Virginia/Columbia cadence
- AUKUS-driven demand for additional attack-sub capacity
- FY25/26 shipbuilding budget growth and multi-year procurement awards
- Mission Technologies unmanned and C5ISR contract wins