Air T, Inc. (AIRT) AI Stock Analysis
AIRT AI stock analysis summary
AI ResearchAir T, Inc. (AIRT) is an aviation services conglomerate providing overnight air cargo, ground support equipment, and commercial aircraft parts. TTM revenue reached $371.7M with strong quarterly revenue growth of 62.9%, yet operating margin stood at -8.6%. The company carries substantial leverage, with total debt of $264.8M against $17.9M in cash.
- Market cap
- $75.6M
- Revenue (TTM)
- $371.7M
- P/E
- 1.2x fwd 12.8x
- 1Y return
- 22.6% S&P 500 16.8%
- Avg. target
- —
Bull case
- Quarterly revenue grew 62.9% year-over-year in the quarter ended June 30, 2026, driven by diversified aviation and ground equipment operations.
- Shares trade at low valuation multiples of 0.2x price-to-sales and an EV/EBITDA of 3.0x relative to US-listed Industrials peers.
- Air T generated $23.59 in EPS over the trailing twelve months, supporting a trailing P/E ratio of 1.2x.
Bear case
- Operating margin remained negative at -8.6% over the trailing twelve months and -5.8% in FY2026.
- Total debt of $264.8M significantly exceeds cash of $17.9M, leading to a elevated debt-to-equity ratio of 4.06.
- Free cash flow was -$41.5M in FY2026, driven by negative operating cash flow of -$25.0M and $16.5M in capital expenditures.
What Air T does
Air T, Inc. operates across the United States and internationally through three primary segments. Its Overnight Air Cargo segment provides express delivery services with a fleet of 72 aircraft leased to FedEx. The Ground Equipment Sales segment manufactures, sells, and services specialized equipment, including aircraft deicers, scissor-type lifts, decontamination units, flight-line tow tractors, and glycol recovery vehicles for airlines, airports, and the United States Air Force. Its Commercial Aircraft, Engines and Parts segment provides aircraft trading, leasing, storage, maintenance, disassembly, parts consignment, and avionics overhaul services.
Growth and profitability
Revenue rose from $177.1M in FY2022 to $327.1M in FY2026, delivering a 5-year revenue CAGR of 13.3% through FY2026. Annual net income jumped to $78.0M in FY2026, or $28.85 per share, though operating margin declined to -5.8%. Over the trailing twelve months, revenue reached $371.7M with an operating margin of -8.6% and net margin of 17.2%. In the quarter ended June 30, 2026, quarterly revenue grew 62.9% year-over-year, while quarterly earnings expanded by 76.9%.
Balance sheet and cash flow
As of June 30, 2026, Air T held $17.9M in cash and short-term investments against $264.8M in total debt, resulting in net debt of $246.9M and a debt-to-equity ratio of 4.06. Current ratio stood at 1.43, with total assets of $469.1M and shareholders' equity of $65.2M. For FY2026, operating cash flow was -$25.0M and free cash flow was -$41.5M after capital expenditures of $16.5M. The company spent $28,000 on share buybacks in FY2026, with share count falling 6.5% over five years.
Valuation and performance
Air T trades at a trailing P/E of 1.2x and a forward P/E of 12.8x, compared to medians of 24.8x and 17.2x for US-listed Industrials peers. Its enterprise value of $326.1M reflects an EV/EBITDA of 3.0x and price-to-sales of 0.2x, versus peer medians of 13.9x and 1.5x, respectively. Over the past year, AIRT returned 22.6%, outperforming the S&P 500 return of 16.8%. However, its 5-year return of -1.6% trailed the S&P 500 gain of 83.0%.
What analysts expect
Air T has no tracked analyst price targets, ratings, or consensus earnings estimates. The company is scheduled to report its next earnings on November 11, 2026. Insiders own 50.5% of the shares, institutional ownership stands at 24.3%, and short interest represents 2.6% of float.
Key risks and what to watch
- Heavy reliance on overnight cargo leasing, including 72 aircraft leased to a single customer, FedEx.
- A high debt load of $264.8M combined with negative annual free cash flow of -$41.5M limits balance sheet flexibility.
- Insider ownership is high at 50.5%, giving inside shareholders significant voting control over corporate decisions.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this AIRT AI stock analysis
This page is an AI-written research summary of Air T, Inc. (AIRT). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: AIRT income statement, AIRT balance sheet, AIRT key metrics, AIRT chart. See the AIRT stock overview for the latest quote and news.
AIRT AI stock analysis FAQ
What does Air T, Inc. do?
Air T operates across overnight air cargo delivery with 72 aircraft leased to FedEx, ground support equipment manufacturing, and commercial aircraft asset management, leasing, and parts sales.
Does Air T pay a dividend?
Air T does not pay a regular dividend.
What is Air T's debt level?
As of June 30, 2026, Air T held $264.8M in total debt and $17.9M in cash and short-term investments, resulting in net debt of $246.9M and a debt-to-equity ratio of 4.06.
When does Air T report earnings?
Air T's next earnings report is scheduled for November 11, 2026.