Wednesday 14 October 2026
Export AIR’s income statement to Excel — free account
AAR Corp.
AIR Industrials Aerospace & Defense
AAR Corp.’s revenue for fiscal 2026 (year ended May 2026) was $3.3 billion, up 19.0% from fiscal 2025. In the quarter to August 2026, revenue grew 24.1%, EPS grew 5.48%, free cash flow grew 182.1% and total debt fell 13.9%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five.
96.45
2.90
−2.92%
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| May '17 | May '18 | May '19 | May '20 | May '21 | May '22 | May '23 | May '24 | May '25 | May '26 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
7 | 6 | 5 | 2 | 6 | 7 | 6 | 3 | 4 | 6 |
P/E ratio |
20.92 | 99.31 | 143.29 | 154.46 | 42.56 | 21.62 | 19.35 | 54.19 | 188.67 | 22.59 |
Altman Z-Score |
3.56 | 4.04 | 3.71 | 2.50 | 3.95 | 4.52 | 3.93 | 2.82 | 2.88 | 3.71 |
P/S ratio |
0.74 | 0.87 | 0.51 | 0.34 | 0.90 | 0.94 | 0.87 | 1.07 | 0.80 | 1.27 |
Altman Z″-Score (non-manufacturers) |
5.99 | 6.24 | 6.09 | 5.38 | 6.31 | 6.92 | 6.35 | 4.42 | 4.53 | 4.97 |
P/FCF ratio |
0.00 | 36.13 | 20.76 | 0.00 | 15.86 | 26.33 | 0.00 | 179.26 | 363.35 | 48.31 |
Beneish M-Score |
(2.37) | (2.63) | (2.39) | (2.54) | (2.53) | (2.25) | (2.22) | (2.41) | (2.36) | (2.18) |
P/Operating CF |
35.89 | 48.68 | 24.20 | (25.69) | 65.91 | 42.81 | 38.47 | 101.70 | 43.12 | 76.18 |
P/B ratio |
1.30 | 1.63 | 1.15 | 0.77 | 1.53 | 1.66 | 1.58 | 2.09 | 1.83 | 2.47 |
Price to Tangible BV |
1.52 | 1.94 | 1.35 | 0.89 | 1.75 | 1.88 | 2.02 | 6.24 | 4.81 | 5.00 |
EV/Sales |
0.84 | 0.95 | 0.56 | 0.42 | 0.95 | 0.97 | 0.97 | 1.46 | 1.11 | 1.51 |
EV/EBITDA |
11.26 | 13.15 | 8.07 | 10.28 | 12.87 | 12.55 | 11.91 | 19.84 | 12.66 | 14.16 |
EV/Operating CF |
60.93 | 25.88 | 16.90 | (24.22) | 14.86 | 23.36 | 82.70 | 77.55 | 85.19 | 50.65 |
EV/FCF |
(390.70) | 39.34 | 22.78 | (14.64) | 16.65 | 26.94 | (310.78) | 243.25 | 504.16 | 57.33 |
Quick Ratio |
0.73 | 0.73 | 0.67 | 1.56 | 0.67 | 0.78 | 0.92 | 0.82 | 0.84 | 0.81 |
Current Ratio |
2.65 | 2.83 | 2.66 | 3.76 | 2.78 | 2.89 | 3.12 | 2.98 | 2.72 | 2.84 |
Net Debt/EBITDA |
1.22 | 1.07 | 0.71 | 2.06 | 0.60 | 0.29 | 1.16 | 5.22 | 3.53 | 2.23 |
Debt/Assets |
10.25% | 11.62% | 9.34% | 28.86% | 8.68% | 6.28% | 14.71% | 35.57% | 34.03% | 26.64% |
Debt/Equity |
0.17 | 0.19 | 0.16 | 0.66 | 0.14 | 0.10 | 0.25 | 0.83 | 0.80 | 0.52 |
Asset Turnover |
1.07 | 1.15 | 1.35 | 1.15 | 0.91 | 1.17 | 1.17 | 1.01 | 0.99 | 1.07 |
Operating CF/Net income |
0.39 | 4.12 | 8.99 | (8.20) | 2.97 | 0.96 | 0.26 | 0.94 | 2.89 | 0.53 |
Capex/Depreciation |
(0.71) | (0.54) | (0.41) | (0.54) | (0.31) | (0.30) | (1.06) | (0.72) | (0.52) | (0.15) |
Interest Coverage |
15.53 | 10.75 | 10.35 | 4.44 | 17.04 | 44.54 | 10.98 | 2.99 | 2.46 | 3.85 |
| 6.35% | 1.69% | 0.81% | 0.49% | 3.77% | 7.78% | 8.46% | 4.05% | 1.04% | 12.88% | |
| 3.82% | 1.03% | 0.49% | 0.24% | 1.96% | 5.02% | 5.29% | 2.01% | 0.45% | 6.05% | |
ROIC |
4.86% | 5.01% | 6.10% | 2.39% | 5.08% | 6.22% | 6.50% | 3.88% | 5.59% | 6.97% |
Return on Tangible Assets |
8.43% | 2.10% | 1.03% | 0.37% | 4.92% | 10.16% | 10.34% | 4.23% | 1.12% | 14.49% |
Average Days of Receivables |
53.80 | 42.17 | 35.19 | 30.28 | 36.82 | 42.92 | 44.25 | 45.21 | 46.58 | 42.68 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
11.25% | 11.90% | 10.50% | 10.65% | 11.04% | 11.11% | 11.57% | 13.46% | 12.50% | 10.56% |
Intangible Assets out of Total Assets |
0.09 | 0.10 | 0.09 | 0.06 | 0.08 | 0.08 | 0.13 | 0.29 | 0.26 | 0.26 |
Share Based Compensation of Revenue |
0.69% | 0.88% | 0.66% | 0.35% | 0.56% | 0.45% | 0.68% | 0.66% | 0.72% | 0.54% |
Graham Net Nets |
0.25 | 0.23 | 0.33 | 0.38 | 0.25 | 0.27 | 0.21 | (0.08) | (0.06) | 0.02 |
Graham Number |
31.83 | 16.65 | 11.14 | 8.71 | 25.03 | 38.18 | 42.96 | 31.61 | 15.90 | 69.82 |
Earnings Yield |
4.78% | 1.01% | 0.70% | 0.65% | 2.35% | 4.62% | 5.17% | 1.85% | 0.53% | 4.43% |
Free Cash Flow Yield |
(0.29%) | 2.77% | 4.82% | (8.54%) | 6.30% | 3.80% | (0.36%) | 0.56% | 0.28% | 2.07% |
Revenue per Share |
46.93 | 51.12 | 59.47 | 59.54 | 47.21 | 51.12 | 57.36 | 66.07 | 78.10 | 86.37 |
Operating CF per Share |
0.64 | 1.88 | 1.95 | (1.04) | 3.01 | 2.11 | 0.67 | 1.24 | 1.01 | 2.58 |
Capex per Share |
(0.74) | (0.64) | (0.50) | (0.68) | (0.32) | (0.28) | (0.85) | (0.85) | (0.84) | (0.30) |
Free Cash Flow per Share |
(0.10) | 1.24 | 1.45 | (1.72) | 2.68 | 1.83 | (0.18) | 0.40 | 0.17 | 2.28 |
Cash per Share |
0.30 | 1.22 | 1.19 | 12.20 | 1.72 | 1.65 | 2.36 | 2.74 | 3.07 | 2.81 |
Shareholders Equity per Share |
26.97 | 27.38 | 26.26 | 25.94 | 27.84 | 29.06 | 31.67 | 33.90 | 34.03 | 44.49 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
26.97 | 27.38 | 26.26 | 25.94 | 27.84 | 29.06 | 31.67 | 33.90 | 34.03 | 44.49 |
Free Cash Flow |
(3.40) | 42.30 | 50.00 | (59.70) | 93.90 | 65.20 | (6.20) | 13.90 | 6.10 | 87.20 |
Working Capital |
553.40 | 609.40 | 595.00 | 1,055.60 | 600.20 | 659.00 | 746.40 | 922.70 | 955.90 | 1,128.90 |
Capital Expenditures |
(25.20) | (22.00) | (17.40) | (23.60) | (11.30) | (10.00) | (29.50) | (29.70) | (30.00) | (11.50) |
Net Current Asset Value |
298.50 | 354.30 | 341.20 | 262.30 | 371.70 | 467.80 | 363.90 | (190.60) | (122.40) | 90.00 |
EV/EBIT |
16.14 | 19.35 | 11.59 | 21.17 | 18.35 | 16.43 | 14.39 | 26.17 | 16.61 | 17.99 |
Capex to Sales |
0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 |
Price to Operating Income |
14.39 | 17.77 | 10.56 | 16.92 | 17.48 | 16.06 | 12.99 | 19.29 | 11.97 | 15.16 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.30 | 0.30 | 0.32 | 0.32 | 0.30 | 0.30 | 0.22 | 0.24 | 0.36 | 0.45 |
Cash ROIC |
(0.32%) | 3.66% | 4.59% | (3.10%) | 8.04% | 5.47% | (0.43%) | 0.61% | 0.27% | 3.22% |
Accounts Receivable Turnover |
6.59 | 8.01 | 10.26 | 11.21 | 9.76 | 9.56 | 8.74 | 8.78 | 8.66 | 8.92 |
Accounts Payable Turnover |
8.03 | 8.70 | 9.63 | 9.50 | 8.63 | 10.63 | 10.29 | 9.47 | 8.33 | 8.97 |
Inventory Turnover |
3.00 | 3.25 | 3.50 | 3.14 | 2.37 | 2.76 | 2.88 | 2.87 | 2.92 | 3.00 |
Average Days of Payables |
45.15 | 42.67 | 39.81 | 38.79 | 33.73 | 37.89 | 35.70 | 46.29 | 49.11 | 40.17 |
Days of Inventory on Hand |
119.17 | 115.63 | 111.00 | 126.15 | 143.36 | 133.35 | 129.32 | 142.59 | 131.11 | 133.04 |
Average Receivables |
241.40 | 218.25 | 199.90 | 184.85 | 169.30 | 190.35 | 227.65 | 264.25 | 321.00 | 370.80 |
Average Payables |
165.25 | 167.10 | 178.90 | 189.70 | 159.40 | 141.80 | 157.45 | 198.25 | 270.55 | 299.35 |
Average Inventory |
442.70 | 447.05 | 492.20 | 573.40 | 581.85 | 545.55 | 562.30 | 653.60 | 771.15 | 894.10 |
Average Assets |
1,480.05 | 1,514.40 | 1,520.95 | 1,798.10 | 1,809.35 | 1,556.80 | 1,703.50 | 2,301.55 | 2,807.30 | 3,100.25 |
Average Common Equity |
890.00 | 925.25 | 921.10 | 904.25 | 938.50 | 1,004.45 | 1,066.80 | 1,144.45 | 1,200.70 | 1,457.70 |
Columns are period end dates · fundamentals updated 1 Oct 2026