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.
97.06
2.29
−2.30%
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| May '26 | May '25 | May '24 | May '23 | May '22 | May '21 | May '20 | May '19 | May '18 | May '17 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
6 | 4 | 3 | 6 | 7 | 6 | 2 | 5 | 6 | 7 |
P/E ratio |
22.59 | 188.67 | 54.19 | 19.35 | 21.62 | 42.56 | 154.46 | 143.29 | 99.31 | 20.92 |
Altman Z-Score |
3.71 | 2.88 | 2.82 | 3.93 | 4.52 | 3.95 | 2.50 | 3.71 | 4.04 | 3.56 |
P/S ratio |
1.27 | 0.80 | 1.07 | 0.87 | 0.94 | 0.90 | 0.34 | 0.51 | 0.87 | 0.74 |
Altman Z″-Score (non-manufacturers) |
4.97 | 4.53 | 4.42 | 6.35 | 6.92 | 6.31 | 5.38 | 6.09 | 6.24 | 5.99 |
P/FCF ratio |
48.31 | 363.35 | 179.26 | 0.00 | 26.33 | 15.86 | 0.00 | 20.76 | 36.13 | 0.00 |
Beneish M-Score |
(2.18) | (2.36) | (2.41) | (2.22) | (2.25) | (2.53) | (2.54) | (2.39) | (2.63) | (2.37) |
P/Operating CF |
76.18 | 43.12 | 101.70 | 38.47 | 42.81 | 65.91 | (25.69) | 24.20 | 48.68 | 35.89 |
P/B ratio |
2.47 | 1.83 | 2.09 | 1.58 | 1.66 | 1.53 | 0.77 | 1.15 | 1.63 | 1.30 |
Price to Tangible BV |
5.00 | 4.81 | 6.24 | 2.02 | 1.88 | 1.75 | 0.89 | 1.35 | 1.94 | 1.52 |
EV/Sales |
1.51 | 1.11 | 1.46 | 0.97 | 0.97 | 0.95 | 0.42 | 0.56 | 0.95 | 0.84 |
EV/EBITDA |
14.16 | 12.66 | 19.84 | 11.91 | 12.55 | 12.87 | 10.28 | 8.07 | 13.15 | 11.26 |
EV/Operating CF |
50.65 | 85.19 | 77.55 | 82.70 | 23.36 | 14.86 | (24.22) | 16.90 | 25.88 | 60.93 |
EV/FCF |
57.33 | 504.16 | 243.25 | (310.78) | 26.94 | 16.65 | (14.64) | 22.78 | 39.34 | (390.70) |
Quick Ratio |
0.81 | 0.84 | 0.82 | 0.92 | 0.78 | 0.67 | 1.56 | 0.67 | 0.73 | 0.73 |
Current Ratio |
2.84 | 2.72 | 2.98 | 3.12 | 2.89 | 2.78 | 3.76 | 2.66 | 2.83 | 2.65 |
Net Debt/EBITDA |
2.23 | 3.53 | 5.22 | 1.16 | 0.29 | 0.60 | 2.06 | 0.71 | 1.07 | 1.22 |
Debt/Assets |
26.64% | 34.03% | 35.57% | 14.71% | 6.28% | 8.68% | 28.86% | 9.34% | 11.62% | 10.25% |
Debt/Equity |
0.52 | 0.80 | 0.83 | 0.25 | 0.10 | 0.14 | 0.66 | 0.16 | 0.19 | 0.17 |
Asset Turnover |
1.07 | 0.99 | 1.01 | 1.17 | 1.17 | 0.91 | 1.15 | 1.35 | 1.15 | 1.07 |
Operating CF/Net income |
0.53 | 2.89 | 0.94 | 0.26 | 0.96 | 2.97 | (8.20) | 8.99 | 4.12 | 0.39 |
Capex/Depreciation |
(0.15) | (0.52) | (0.72) | (1.06) | (0.30) | (0.31) | (0.54) | (0.41) | (0.54) | (0.71) |
Interest Coverage |
3.85 | 2.46 | 2.99 | 10.98 | 44.54 | 17.04 | 4.44 | 10.35 | 10.75 | 15.53 |
| 12.88% | 1.04% | 4.05% | 8.46% | 7.78% | 3.77% | 0.49% | 0.81% | 1.69% | 6.35% | |
| 6.05% | 0.45% | 2.01% | 5.29% | 5.02% | 1.96% | 0.24% | 0.49% | 1.03% | 3.82% | |
ROIC |
6.97% | 5.59% | 3.88% | 6.50% | 6.22% | 5.08% | 2.39% | 6.10% | 5.01% | 4.86% |
Return on Tangible Assets |
14.49% | 1.12% | 4.23% | 10.34% | 10.16% | 4.92% | 0.37% | 1.03% | 2.10% | 8.43% |
Average Days of Receivables |
42.68 | 46.58 | 45.21 | 44.25 | 42.92 | 36.82 | 30.28 | 35.19 | 42.17 | 53.80 |
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 |
10.56% | 12.50% | 13.46% | 11.57% | 11.11% | 11.04% | 10.65% | 10.50% | 11.90% | 11.25% |
Intangible Assets out of Total Assets |
0.26 | 0.26 | 0.29 | 0.13 | 0.08 | 0.08 | 0.06 | 0.09 | 0.10 | 0.09 |
Share Based Compensation of Revenue |
0.54% | 0.72% | 0.66% | 0.68% | 0.45% | 0.56% | 0.35% | 0.66% | 0.88% | 0.69% |
Graham Net Nets |
0.02 | (0.06) | (0.08) | 0.21 | 0.27 | 0.25 | 0.38 | 0.33 | 0.23 | 0.25 |
Graham Number |
69.82 | 15.90 | 31.61 | 42.96 | 38.18 | 25.03 | 8.71 | 11.14 | 16.65 | 31.83 |
Earnings Yield |
4.43% | 0.53% | 1.85% | 5.17% | 4.62% | 2.35% | 0.65% | 0.70% | 1.01% | 4.78% |
Free Cash Flow Yield |
2.07% | 0.28% | 0.56% | (0.36%) | 3.80% | 6.30% | (8.54%) | 4.82% | 2.77% | (0.29%) |
Revenue per Share |
86.37 | 78.10 | 66.07 | 57.36 | 51.12 | 47.21 | 59.54 | 59.47 | 51.12 | 46.93 |
Operating CF per Share |
2.58 | 1.01 | 1.24 | 0.67 | 2.11 | 3.01 | (1.04) | 1.95 | 1.88 | 0.64 |
Capex per Share |
(0.30) | (0.84) | (0.85) | (0.85) | (0.28) | (0.32) | (0.68) | (0.50) | (0.64) | (0.74) |
Free Cash Flow per Share |
2.28 | 0.17 | 0.40 | (0.18) | 1.83 | 2.68 | (1.72) | 1.45 | 1.24 | (0.10) |
Cash per Share |
2.81 | 3.07 | 2.74 | 2.36 | 1.65 | 1.72 | 12.20 | 1.19 | 1.22 | 0.30 |
Shareholders Equity per Share |
44.49 | 34.03 | 33.90 | 31.67 | 29.06 | 27.84 | 25.94 | 26.26 | 27.38 | 26.97 |
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 |
44.49 | 34.03 | 33.90 | 31.67 | 29.06 | 27.84 | 25.94 | 26.26 | 27.38 | 26.97 |
Free Cash Flow |
87.20 | 6.10 | 13.90 | (6.20) | 65.20 | 93.90 | (59.70) | 50.00 | 42.30 | (3.40) |
Working Capital |
1,128.90 | 955.90 | 922.70 | 746.40 | 659.00 | 600.20 | 1,055.60 | 595.00 | 609.40 | 553.40 |
Capital Expenditures |
(11.50) | (30.00) | (29.70) | (29.50) | (10.00) | (11.30) | (23.60) | (17.40) | (22.00) | (25.20) |
Net Current Asset Value |
90.00 | (122.40) | (190.60) | 363.90 | 467.80 | 371.70 | 262.30 | 341.20 | 354.30 | 298.50 |
EV/EBIT |
17.99 | 16.61 | 26.17 | 14.39 | 16.43 | 18.35 | 21.17 | 11.59 | 19.35 | 16.14 |
Capex to Sales |
0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 |
Price to Operating Income |
15.16 | 11.97 | 19.29 | 12.99 | 16.06 | 17.48 | 16.92 | 10.56 | 17.77 | 14.39 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.45 | 0.36 | 0.24 | 0.22 | 0.30 | 0.30 | 0.32 | 0.32 | 0.30 | 0.30 |
Cash ROIC |
3.22% | 0.27% | 0.61% | (0.43%) | 5.47% | 8.04% | (3.10%) | 4.59% | 3.66% | (0.32%) |
Accounts Receivable Turnover |
8.92 | 8.66 | 8.78 | 8.74 | 9.56 | 9.76 | 11.21 | 10.26 | 8.01 | 6.59 |
Accounts Payable Turnover |
8.97 | 8.33 | 9.47 | 10.29 | 10.63 | 8.63 | 9.50 | 9.63 | 8.70 | 8.03 |
Inventory Turnover |
3.00 | 2.92 | 2.87 | 2.88 | 2.76 | 2.37 | 3.14 | 3.50 | 3.25 | 3.00 |
Average Days of Payables |
40.17 | 49.11 | 46.29 | 35.70 | 37.89 | 33.73 | 38.79 | 39.81 | 42.67 | 45.15 |
Days of Inventory on Hand |
133.04 | 131.11 | 142.59 | 129.32 | 133.35 | 143.36 | 126.15 | 111.00 | 115.63 | 119.17 |
Average Receivables |
370.80 | 321.00 | 264.25 | 227.65 | 190.35 | 169.30 | 184.85 | 199.90 | 218.25 | 241.40 |
Average Payables |
299.35 | 270.55 | 198.25 | 157.45 | 141.80 | 159.40 | 189.70 | 178.90 | 167.10 | 165.25 |
Average Inventory |
894.10 | 771.15 | 653.60 | 562.30 | 545.55 | 581.85 | 573.40 | 492.20 | 447.05 | 442.70 |
Average Assets |
3,100.25 | 2,807.30 | 2,301.55 | 1,703.50 | 1,556.80 | 1,809.35 | 1,798.10 | 1,520.95 | 1,514.40 | 1,480.05 |
Average Common Equity |
1,457.70 | 1,200.70 | 1,144.45 | 1,066.80 | 1,004.45 | 938.50 | 904.25 | 921.10 | 925.25 | 890.00 |
Columns are period end dates · fundamentals updated 1 Oct 2026