AeroVironment, Inc. (AVAV) Balance Sheet
AVAV balance sheet, FY2026
April 30, 2026 · U.S. dollars$5.72B assets = $1.32B liabilities + $4.40B equity
Both columns are drawn to the same scale: what AVAV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AVAV financial health
Current ratio4.30
Comfortable · current assets cover current liabilities 4.30×
Debt / equity0.19
Low leverage · $0.19 of debt for each $1 of equity
Equity / assets77.0%
Equity-funded · of assets funded by shareholders
Cash / debt75.7%
Partial cover · cash & short-term investments vs total debt
Goodwill & intangibles59.9%
Mostly intangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
AVAV balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $432.5MFY2017 | $5.72BFY2026 | +33.2%/yr | |
| Total liabilities | $50.3MFY2017 | $1.32BFY2026 | +43.7%/yr | |
| Shareholders’ equity | $382.2MFY2017 | $4.40BFY2026 | +31.2%/yr | |
| Cash & short-term investments | $199.9MFY2017 | $632.3MFY2026 | +13.7%/yr | |
| Total debt | $14.5MFY2017 | $834.8MFY2026 | +56.8%/yr | |
| Net cash (debt) | $185.3MFY2017 | −$202.5MFY2026 | −$387.8M | |
| Working capital | $306.0MFY2017 | $1.45BFY2026 | +$1.1B | |
| Book value per share | $16.40FY2017 | $89.64FY2026 | +20.8%/yr | |
| Current ratio | 7.37FY2017 | 4.30FY2026 | −3.06 | |
| Debt / equity | 0.04FY2017 | 0.19FY2026 | +0.15 | |
| Shares outstanding | 23.3MFY2017 | 49.1MFY2026 | +8.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AVAV assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
AVAV liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
AVAV debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AVAV balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $632.3M | $40.9M | $73.3M | $132.9M | $101.9M | $180.7M | $302.6M | $323.2M | $257.2M | $199.9M |
| Cash & equivalents | $377.3M | $40.9M | $73.3M | $132.9M | $77.2M | $148.7M | $255.1M | $172.7M | $143.5M | $79.9M |
| Short-term investments | $255.0M | $0 | — | $0 | $24.7M | $32.0M | $47.5M | $150.5M | $113.6M | $120.0M |
| Receivables | $886.6M | $392.6M | $269.8M | $193.3M | $164.8M | $134.3M | $149.5M | $84.9M | $73.7M | $88.5M |
| Inventory | $312.9M | $144.1M | $150.2M | $138.8M | $90.6M | $71.6M | $45.5M | $54.1M | $38.6M | $60.1M |
| Other current assets | $58.7M | $29.0M | $22.3M | $12.0M | $11.5M | $15.0M | $6.2M | $7.4M | $29.7M | $5.7M |
| Total current assets | $1.89B | $606.5M | $515.6M | $477.0M | $368.9M | $401.6M | $503.9M | $469.6M | $399.1M | $354.1M |
| Property, plant & equipment (net) | $267.1M | $82.6M | $76.6M | $67.2M | $89.1M | $81.8M | $30.5M | $16.9M | $19.2M | $19.2M |
| Goodwill & intangible assets | $3.42B | $305.5M | $347.9M | $224.4M | $431.6M | $420.5M | $20.0M | $918,000 | $1.3M | $3.6M |
| Long-term investments | $81.1M | $31.6M | $21.0M | $23.6M | $15.4M | $12.2M | $15.0M | $9.4M | $40.7M | $42.1M |
| Other non-current assets | $54.6M | $94.3M | $54.8M | $32.4M | $9.2M | $12.5M | $15.5M | $12.0M | $13.1M | $13.5M |
| Total assets | $5.72B | $1.12B | $1.02B | $824.6M | $914.2M | $928.6M | $585.0M | $508.8M | $473.4M | $432.5M |
| Liabilities | ||||||||||
| Accounts payable | $160.5M | $72.5M | $48.3M | $31.4M | $19.2M | $24.8M | $19.9M | $16.0M | $21.3M | $20.3M |
| Short-term debt | $17.6M | $10.5M | $19.8M | $15.7M | $16.8M | $16.2M | $3.4M | $18.5M | $161,000 | $14.4M |
| Deferred revenue | $79.6M | $16.0M | $11.2M | $16.6M | $9.0M | $7.2M | $7.9M | $3.0M | $2.1M | $3.3M |
| Total current liabilities | $439.2M | $172.2M | $144.9M | $121.3M | $101.4M | $96.2M | $67.0M | $44.9M | $62.1M | $48.1M |
| Long-term debt | $729.0M | $30.0M | $17.1M | $125.9M | $177.8M | $187.5M | $0 | $0 | $0 | $161,000 |
| Lease obligations | $105.8M | $34.3M | $32.6M | $29.4M | $28.7M | $25.3M | $10.2M | — | $0 | $161,000 |
| Other long-term liabilities | $148.1M | $31.9M | $31.1M | $26.4M | $26.8M | $32.8M | $8.1M | $1.4M | $2.3M | $2.1M |
| Total liabilities | $1.32B | $234.1M | $193.1M | $273.6M | $306.0M | $316.5M | $75.1M | $46.3M | $64.4M | $50.3M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $6,000 | $4,000 | $4,000 | $4,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| Retained earnings (deficit) | $9.2M | $274.3M | $230.7M | $171.0M | $347.2M | $351.4M | $328.1M | $286.4M | $240.0M | $219.9M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$5.6M | −$6.5M | −$5.6M | −$4.5M | −$6.5M | $343,000 | $328,000 | $2,000 | −$21,000 | −$127,000 |
| Minority interest | — | — | — | $0 | $241,000 | $14,000 | — | $4,000 | $23,000 | $239,000 |
| Total shareholders' equity | $4.40B | $886.5M | $822.7M | $551.0M | $608.0M | $612.1M | $509.9M | $462.6M | $410.1M | $382.2M |
| Key figures | ||||||||||
| Total debt | $834.8M | $64.3M | $59.7M | $162.8M | $216.6M | $222.8M | $10.2M | $18.5M | $161,000 | $14.5M |
| Net cash (debt) | −$202.5M | −$23.4M | $13.6M | −$30.0M | −$114.6M | −$42.1M | $292.4M | $304.7M | $257.0M | $185.3M |
| Working capital | $1.45B | $434.4M | $370.7M | $355.7M | $267.5M | $305.5M | $437.0M | $424.7M | $337.1M | $306.0M |
| Tangible book value | $976.9M | $581.0M | $474.9M | $326.6M | $176.4M | $191.6M | $489.9M | $461.7M | $408.9M | $378.5M |
| Book value per share | $89.64 | $31.47 | $30.11 | $22.00 | $24.63 | $25.12 | $21.17 | $19.22 | $17.22 | $16.40 |
| Shares outstanding | 49.1M | 28.2M | 27.3M | 25.0M | 24.7M | 24.4M | 24.1M | 24.1M | 23.8M | 23.3M |
| Current ratio | 4.30 | 3.52 | 3.56 | 3.93 | 3.64 | 4.18 | 7.53 | 10.47 | 6.43 | 7.37 |
| Quick ratio | 3.46 | 2.52 | 2.37 | 2.69 | 2.63 | 3.27 | 6.75 | 9.10 | 5.33 | 6.00 |
| Debt / equity | 0.19 | 0.07 | 0.07 | 0.30 | 0.36 | 0.36 | 0.02 | 0.04 | 0.00 | 0.04 |
| Equity / assets | 77.0% | 79.1% | 81.0% | 66.8% | 66.5% | 65.9% | 87.2% | 90.9% | 86.6% | 88.4% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $580.2M | $632.3M | $587.1M | $588.5M | $685.8M | $40.9M | $47.0M | $69.0M | $81.2M | $73.3M | $107.7M | $100.9M |
| Cash & equivalents | $278.4M | $377.3M | $289.9M | $359.4M | $685.8M | $40.9M | $47.0M | $69.0M | $81.2M | $73.3M | $107.7M | $100.9M |
| Short-term investments | $301.8M | $255.0M | $297.3M | $229.0M | — | $0 | — | — | — | — | — | — |
| Receivables | $826.8M | $886.6M | $772.6M | $772.3M | $682.9M | $392.6M | $326.0M | $287.7M | $255.6M | $269.8M | $209.9M | $221.4M |
| Inventory | $410.8M | $312.9M | $299.3M | $259.2M | $232.9M | $144.1M | $148.0M | $139.7M | $143.8M | $150.2M | $161.4M | $181.8M |
| Other current assets | $63.9M | $58.7M | $45.2M | $46.5M | $37.7M | $29.0M | $22.9M | $18.4M | $19.8M | $22.3M | $21.7M | $20.0M |
| Total current assets | $1.88B | $1.89B | $1.70B | $1.67B | $1.64B | $606.5M | $543.9M | $514.8M | $500.3M | $515.6M | $500.7M | $524.0M |
| Property, plant & equipment (net) | $316.5M | $267.1M | $250.7M | $249.7M | $247.3M | $82.6M | $81.3M | $82.2M | $76.4M | $76.6M | $74.0M | $74.4M |
| Goodwill & intangible assets | $3.38B | $3.42B | $3.39B | $3.60B | $3.66B | $305.5M | $333.1M | $338.5M | $343.5M | $347.9M | $352.8M | $357.6M |
| Long-term investments | $94.8M | $81.1M | $61.7M | $81.0M | $36.3M | $31.6M | $25.5M | $22.9M | $21.9M | $21.0M | $21.3M | $20.6M |
| Other non-current assets | $57.4M | $54.6M | $49.4M | $45.9M | $42.7M | $94.3M | $64.4M | $60.6M | $57.1M | $54.8M | $31.6M | $30.0M |
| Total assets | $5.73B | $5.72B | $5.45B | $5.64B | $5.62B | $1.12B | $1.05B | $1.02B | $999.2M | $1.02B | $980.3M | $1.01B |
| Liabilities | ||||||||||||
| Accounts payable | $174.8M | $160.5M | $109.6M | $119.5M | $91.1M | $72.5M | $48.8M | $40.6M | $43.6M | $48.3M | $27.0M | $28.8M |
| Short-term debt | $17.8M | $17.6M | $15.6M | $14.8M | $16.8M | $10.5M | $9.4M | $9.6M | $19.4M | $19.8M | $16.4M | $13.8M |
| Deferred revenue | $87.5M | $79.6M | $67.5M | $71.2M | $61.3M | $16.0M | $12.1M | $10.6M | $11.0M | $11.2M | $17.5M | $20.4M |
| Total current liabilities | $441.7M | $439.2M | $309.3M | $328.0M | $274.9M | $172.2M | $128.9M | $111.6M | $117.4M | $144.9M | $107.5M | $109.3M |
| Long-term debt | $730.1M | $729.0M | $727.9M | $726.8M | $725.7M | $30.0M | $25.0M | $15.0M | $6.8M | $17.1M | $31.3M | $73.7M |
| Lease obligations | $120.8M | $105.8M | $98.1M | $99.1M | $104.0M | $34.3M | $34.2M | $35.3M | $30.5M | $32.6M | $30.9M | $32.5M |
| Other long-term liabilities | $162.9M | $148.1M | $144.2M | $165.6M | $196.3M | $31.9M | $33.2M | $34.1M | $29.5M | $31.1M | $28.5M | $30.0M |
| Total liabilities | $1.33B | $1.32B | $1.18B | $1.22B | $1.20B | $234.1M | $187.1M | $160.7M | $153.6M | $193.1M | $167.3M | $213.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 |
| Retained earnings (deficit) | $4.1M | $9.2M | $33.3M | $189.8M | $206.9M | $274.3M | $257.6M | $259.4M | $251.9M | $230.7M | $224.6M | $210.8M |
| Accumulated other comprehensive income | −$5.8M | −$5.6M | −$5.5M | −$6.2M | −$5.9M | −$6.5M | −$6.2M | −$5.2M | −$5.1M | −$5.6M | −$4.9M | −$6.1M |
| Total shareholders' equity | $4.40B | $4.40B | $4.27B | $4.42B | $4.43B | $886.5M | $861.1M | $858.4M | $845.5M | $822.7M | $813.0M | $793.7M |
| Key figures | ||||||||||||
| Total debt | $850.8M | $834.8M | $826.0M | $825.9M | $829.7M | $64.3M | $59.2M | $50.3M | $47.3M | $59.7M | $69.7M | $111.2M |
| Net cash (debt) | −$270.6M | −$202.5M | −$238.9M | −$237.5M | −$143.9M | −$23.4M | −$12.2M | $18.7M | $33.9M | $13.6M | $38.0M | −$10.3M |
| Working capital | $1.44B | $1.45B | $1.39B | $1.34B | $1.36B | $434.4M | $415.0M | $403.2M | $383.0M | $370.7M | $393.2M | $414.7M |
| Tangible book value | $1.02B | $976.9M | $884.6M | $822.6M | $768.7M | $581.0M | $528.0M | $519.9M | $502.1M | $474.9M | $460.2M | $436.1M |
| Book value per share | $88.23 | $87.16 | $85.89 | $88.85 | $94.43 | $31.36 | $30.72 | $30.50 | $29.90 | $29.28 | $28.99 | $29.44 |
| Shares outstanding | 49.8M | 50.5M | 49.7M | 49.7M | 46.9M | 28.3M | 28.0M | 28.1M | 28.3M | 28.1M | 28.0M | 27.0M |
| Current ratio | 4.26 | 4.30 | 5.51 | 5.08 | 5.96 | 3.52 | 4.22 | 4.61 | 4.26 | 3.56 | 4.66 | 4.79 |
| Quick ratio | 3.19 | 3.46 | 4.40 | 4.15 | 4.98 | 2.52 | 2.89 | 3.20 | 2.87 | 2.37 | 2.95 | 2.95 |
| Debt / equity | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | 0.07 | 0.07 | 0.06 | 0.06 | 0.07 | 0.09 | 0.14 |
| Equity / assets | 76.7% | 77.0% | 78.3% | 78.4% | 78.7% | 79.1% | 82.2% | 84.2% | 84.6% | 81.0% | 82.9% | 78.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed June 29, 2026); data from EODHD.
AVAV financial position
At the end of fiscal 2026 (April 30, 2026), AeroVironment had total assets of $5.7 billion (up 410.2% from a year earlier), total liabilities of $1.3 billion and shareholders' equity of $4.4 billion. It held $632.3 million in cash and short-term investments against $834.8 million of debt, net debt of $202.5 million. Its current ratio was 4.30. In the latest quarter (ended July 31, 2026) total assets were $5.7 billion and equity $4.4 billion.
Related: AVAV income statement, AVAV cash flow statement, AVAV key metrics. See the AVAV stock overview for the latest quote and news.
AVAV balance sheet FAQ
What are AeroVironment's total assets?
AeroVironment reported total assets of $5.7 billion at the end of fiscal 2026 (April 30, 2026), compared with $1.1 billion a year earlier.
How much debt does AeroVironment have?
AeroVironment had $834.8 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.19.
How much cash does AeroVironment have?
AeroVironment held $632.3 million in cash and short-term investments at the end of fiscal 2026; with $834.8 million of debt that is net debt of $202.5 million.
What is AeroVironment's book value?
AeroVironment's shareholders' equity (book value) was $4.4 billion at the end of fiscal 2026, or $89.64 per share.
What is AeroVironment's current ratio?
AeroVironment had current assets of $1.9 billion and current liabilities of $439.2 million, a current ratio of 4.30 (it can cover its short-term obligations).
How much goodwill does AeroVironment have?
AeroVironment carried $3.4 billion of goodwill and intangible assets, 59.9% of total assets, at the end of fiscal 2026.