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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.

96.76 2.59 −2.61%
Market cap
$4.0B
P/E
20.1×
Fwd P/E
26.3×
Dividend yield
—
F-score
6/9
Altman Z
3.71
Beneish M
−2.18
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 26.70
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 1 — 6 2 3 — — — — — — —
Insider Ownership 1.01%

Capital & Financial Ratios $m

Market Cap 3,990.00
Revenue 3,486.40
Net Income 193.40
Free Cash Flow 184.80
Net Debt 766.50
Current Ratio 2.83 (at or above 1.5: strong)
Debt/Equity 0.50
P/E ratio 20.13
Fwd P/E 26.30
P/S ratio 1.13
P/B ratio 2.25
Past 5Y EPS Growth 37.19% (at or above 15%: strong)
This Y EPS Growth 16.04% (at or above 15%: strong)
Next Y EPS Growth 15.87% (at or above 15%: strong)
Next Y revenue growth 11.58% (at or above 10%: strong)
Next 5Y EPS Growth 17.51% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.3×, against a ten-year median of 0.9×; over the ten years it ranged from 0.3× in 2020 to 1.9× in 2026.
P/E against its own 10 years 18.62%
10-year low 10-year high
P/S against its own 10 years 91.99%
10-year low 10-year high
P/B against its own 10 years 91.00%
10-year low 10-year high
EV/Sales against its own 10 years 88.56%
10-year low 10-year high
EV/FCF against its own 10 years 17.82%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 0.15
0.08
0.08
2019 0.30
0.08
0.08
0.08
0.08
2018 0.30
0.08
0.08
0.08
0.08
2017 0.30
0.08
0.08
0.08
0.08
2016 0.30
0.08
0.08
0.08
0.08
special payouts not included in total or ratios

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 96 109 108 113
Receivables 287 355 387 436
Inventory 733 809 979 1,009
Other 263 237 269 147
1,390 1,511 1,742 1,840
2024 2025 2026 Q'26
Payables 238 303 296 338
ST’ Debt — — — —
Other — — — —
467 555 613 651

Compound Annual Growth %

10y 5y 3y
Sales 8.05% 14.89% 18.45%
Cash Flow 11.89% (1.27%) 61.80%
Earnings 14.68% 39.60% 27.67%
Book Value 7.00% 11.82% 15.73%

Revenue $m

Aug Nov Feb May Year
’26 918 — — — —
’26 740 795 845 928 3,308
’25 662 686 678 755 2,781
’24 550 545 567 656 2,319
’23 446 470 521 553 1,991
’22 455 437 452 476 1,820
’21 401 404 410 438 1,652
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Aug Nov Feb May Year
’26 56 — — — —
’26 (45) 14 75 55 99
’25 (19) 22 (19) 51 36
’24 (19) 17 20 25 44
’23 7 (46) 17 45 23
’22 3 16 16 40 75
’21 39 27 17 23 105
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Aug Nov Feb May Year
’26 44 — — — —
’26 (54) 6 91 44 87
’25 (26) 14 (22) 41 6
’24 (28) 10 15 17 14
’23 0 (52) 8 38 (6)
’22 1 20 12 33 65
’21 36 24 15 20 94
Fiscal quarters ending in the months shown.

EPS $

Aug Nov Feb May Year
’26 1.01 — — — —
’26 0.95 0.90 1.71 1.27 4.86
’25 0.50 (0.87) (0.25) 0.95 0.35
’24 (0.02) 0.67 0.39 0.26 1.29
’23 0.63 0.64 0.62 0.66 2.53
’22 0.32 0.58 0.63 0.66 2.17
’21 (0.42) 0.23 0.79 0.39 1.00
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to May

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 31.20 33.94 29.84 8.56 30.90 33.75 44.21 54.71 46.51 82.45

Analyst estimates 2027–2029

Powerpack
High 44.04 51.52 52.78 47.99 45.49 52.83 73.95 76.34 89.69 154.00
People
People Employees 4,600 5,000 5,650 5,400 4,700 4,500 5,000 5,700 5,600 7,100
Revenue/emp, $m 0.35 0.35 0.36 0.38 0.35 0.40 0.40 0.41 0.50 0.47
Income, $m
Income, $m Revenue 1,591 1,748 2,052 2,072 1,652 1,820 1,991 2,319 2,781 3,308
Gross margin, % 16.56 16.82 16.07 12.99 16.70 17.21 18.59 19.07 18.98 18.80
EBT 77 77 89 30 65 105 121 58 39 246
EBT margin, % 4.85 4.42 4.34 1.47 3.90 5.77 6.09 2.51 1.40 7.43
Net income 57 16 8 4 36 79 90 46 13 188
Depreciation 36 41 43 44 36 33 28 41 58 75
Per share, $
Per share, $ Revenue 46.93 51.12 59.47 59.54 47.21 51.12 57.36 66.07 78.10 86.37
Earnings 1.66 0.44 0.20 0.12 1.02 2.20 2.56 1.30 0.35 4.88
Cash flow 0.64 1.88 1.95 (1.04) 3.01 2.11 0.67 1.24 1.01 2.58
Capex (0.74) (0.64) (0.50) (0.68) (0.32) (0.28) (0.85) (0.85) (0.84) (0.30)
Free cash flow (0.10) 1.24 1.45 (1.72) 2.68 1.83 (0.18) 0.40 0.17 2.28
Book value 26.97 27.38 26.26 25.94 27.84 29.06 31.67 33.90 34.03 44.49
Shares, m 34 34 35 35 35 36 35 35 36 38
Valuation, ×
Valuation, × P/E 20.92 99.31 143.29 154.46 42.56 21.62 19.35 54.19 188.67 22.59
P/S 0.74 0.87 0.51 0.34 0.90 0.94 0.87 1.07 0.80 1.27
P/B 1.30 1.63 1.15 0.77 1.53 1.66 1.58 2.09 1.83 2.47
EV/Sales 0.84 0.95 0.56 0.42 0.95 0.97 0.97 1.46 1.11 1.51
EV/FCF (390.70) 39.34 22.78 (14.64) 16.65 26.94 (310.78) 243.25 504.16 57.33
Cash, $m
Cash, $m Operating cash flow 22 64 67 (36) 105 75 23 44 36 99
Capex (25) (22) (17) (24) (11) (10) (29) (30) (30) (11)
Free cash flow (3) 42 50 (60) 94 65 (6) 14 6 87
Balance, $m
Balance, $m Working capital 553 609 595 1,056 600 659 746 923 956 1,129
Total debt 154 177 142 600 134 99 270 985 968 894
Net debt 144 136 101 175 74 40 188 889 859 786
Shareholders’ equity 914 936 906 903 974 1,035 1,099 1,190 1,212 1,704
Returns, %
Returns, % ROA 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
ROE 6.35 1.69 0.81 0.49 3.77 7.78 8.46 4.05 1.04 12.88
Negative figures in brackets.

All 10 years →

Fiscal years to May 2026 · latest quarter Aug 2026 · fundamentals updated 1 Oct 2026

Charts ten years each

AAR Corp. vs peers in Aerospace & Defense (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MRCY Mercury Systems Inc $4.7B — (loss-making) 239× +6.11% (above 0%: growing) −94.79% (below 0%: shrinking) −15.93% (below 0%: shrinking) 30.57% 4.99% Compare
VSEC VSE Corporation $4.7B 51.2× 43.0× +65.04% (above 0%: growing) +513.33% (above 0%: growing) +217.04% (above 0%: growing) 17.02% 10.90% Compare
BETA BETA Technologies, Inc. $4.6B — (loss-making) — (loss-making) +145.69% (above 0%: growing) n/m −87.68% (below 0%: shrinking) 54.72% (1,078.71%) Compare
KRMN Karman Holdings Inc. $4.2B 104× 108× +58.18% (above 0%: growing) +120.00% (above 0%: growing) +17.67% (above 0%: growing) 42.97% 19.13% Compare
AIR AAR Corp. $4.0B 20.1× 26.3× +24.12% (above 0%: growing) +5.48% (above 0%: growing) +182.09% (above 0%: growing) 19.20% 7.85%
MOG.B Moog Inc. $3.7B 31.0× — +15.16% (above 0%: growing) +153.97% (above 0%: growing) +67.52% (above 0%: growing) 31.10% 14.41% Compare
ACHR Archer Aviation Inc. $3.6B — (loss-making) — (loss-making) — n/m −51.76% (below 0%: shrinking) 14.00% (5,584.00%) Compare
FLY Firefly Aerospace, Inc. $3.2B — (loss-making) — (loss-making) +656.85% (above 0%: growing) n/m −185.28% (below 0%: shrinking) 20.29% (80.89%) Compare
LUNR Intuitive Machines, Inc. $2.9B — (loss-making) — (loss-making) +309.77% (above 0%: growing) n/m −197.16% (below 0%: shrinking) 17.40% (22.86%) Compare
Median of peers $3.9B 51.2× 108× +65.04% +136.99% −33.84% 25.43% (8.93%)

All 82 Aerospace & Defense stocks →

AAR Corp. (AIR) key facts

  • Strength: AAR Corp.’s revenue for fiscal 2026 (year ended May 2026) was $3.3 billion, up 19.0% from fiscal 2025.
  • Strength: Net income was $187.7 million, or $4.88 per share (basic), a net margin of 5.67%.
  • AAR Corp. (AIR) is an Aerospace & Defense company in the Industrials sector, listed on the New York Stock Exchange.
  • As of October 13, 2026, AIR traded at $99.10, a market capitalization of $4.0 billion.
  • At that price the stock trades at 20.1× trailing-twelve-month earnings and 1.1× sales; its P/E is higher than 19% of its own readings over the past ten years.
  • Return on equity was 12.9% and debt-to-equity 0.50.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.71 (safe zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 1, 2026.

AAR Corp. (AIR) Latest News

28 Sep

Impact 5 ·
stockrow.com/AIR · Data as of Oct 1, 2026 · For information only; not investment advice. · © 2026 stockrow.com