Air T, Inc.
AIRT Industrials Conglomerates
Air T, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $327.1 million, up 12.1% from fiscal 2025. In the quarter to June 2026, revenue grew 62.9%, EPS fell 860.7%, free cash flow fell 1,721.5% and total debt rose 92.3%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for five.
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An Income Statement, also known as a Profit and Loss Statement, summarizes a company's revenues, expenses, and profits over a specific period. It highlights how revenue is transformed into net income, showcasing operational efficiency. Key components include total revenue, cost of goods sold (COGS), gross profit, operating expenses, and net profit. Businesses use the Income Statement to assess financial performance, make strategic decisions, and ensure profitability. Investors and stakeholders analyze it to gauge the company’s financial health and future growth potential.
| Mar '17 | Mar '18 | Mar '19 | Mar '20 | Mar '21 | Mar '22 | Mar '23 | Mar '24 | Mar '25 | Mar '26 | |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue |
148.47 | 194.52 | 215.50 | 236.79 | 175.12 | 177.08 | 247.32 | 286.83 | 291.85 | 327.09 |
Revenue Growth |
0.18% | 31.01% | 10.79% | 9.88% | (26.04%) | 1.12% | 39.67% | 15.98% | 1.75% | 12.07% |
Cost of Revenue |
125.09 | 158.23 | 165.31 | 184.05 | 140.34 | 135.84 | 194.34 | 228.75 | 223.65 | 202.41 |
Gross Profit |
23.38 | 36.29 | 50.19 | 52.73 | 34.78 | 41.24 | 52.99 | 58.09 | 68.20 | 124.69 |
R&D Expenses |
1.04 | 0.20 | — | — | — | — | — | — | — | — |
SG&A Expenses |
22.21 | 29.14 | 33.61 | 39.78 | 34.26 | 29.82 | 42.84 | 51.11 | 57.85 | 80.84 |
Operating Income |
(3.10) | 4.25 | 9.33 | 7.29 | (9.17) | 8.76 | (4.41) | 1.26 | 1.91 | (11.20) |
Non-operating Income/Expense |
(1.12) | (1.59) | (3.36) | (4.67) | (2.61) | 4.64 | (6.95) | (5.22) | (6.90) | 97.22 |
Non-operating Interest Expenses |
0.57 | 1.72 | 3.43 | 4.69 | 4.62 | 4.95 | 7.94 | 6.92 | 8.39 | 12.04 |
| (4.22) | 2.65 | 5.97 | 2.62 | (11.78) | 13.40 | (11.35) | (3.95) | (4.99) | 86.02 | |
Income Tax Provision |
0.73 | 0.20 | 1.76 | (0.54) | (3.39) | 1.17 | 0.43 | 0.73 | 0.42 | 1.37 |
Income after Tax |
(4.94) | 2.46 | 4.21 | 3.17 | (8.39) | 12.23 | (11.78) | (4.68) | (5.41) | 84.65 |
Dividends (Preferred) |
0.00 | 0.00 | 0.00 | — | 0.00 | — | — | 0.00 | — | — |
Non-Controlling Interest |
(1.73) | 0.18 | 1.86 | 3.58 | (1.11) | 1.30 | 0.51 | 2.14 | 0.73 | 6.67 |
Net Income Common |
(3.21) | 2.28 | 1.34 | 7.66 | (7.28) | 10.93 | (12.29) | (6.82) | (6.14) | 77.98 |
EPS (Basic) |
(1.01) | 1.20 | 0.66 | 2.74 | (2.53) | 3.79 | (4.32) | (2.42) | (2.23) | 28.85 |
EPS (Diluted) |
(1.01) | 1.20 | 0.66 | 2.73 | (2.53) | 3.78 | (4.32) | (2.42) | (2.23) | 28.85 |
Shares (Basic, Weighted) |
3.19 | 2.04 | 3.05 | 2.79 | 2.88 | 2.88 | 2.85 | 2.82 | 2.75 | 2.70 |
Shares (Diluted, Weighted) |
3.19 | 2.05 | 3.06 | 2.80 | 2.88 | 2.89 | 2.85 | 2.82 | 2.75 | 2.70 |
Gross Margin |
15.75% | 18.66% | 23.29% | 22.27% | 19.86% | 23.29% | 21.42% | 20.25% | 23.37% | 38.12% |
EBIT Margin |
(2.09%) | 2.18% | 4.33% | 3.08% | (5.24%) | 4.94% | (1.78%) | 0.44% | 0.65% | (3.42%) |
EBT margin |
(2.84%) | 1.36% | 2.77% | 1.11% | (6.73%) | 7.57% | (4.59%) | (1.38%) | (1.71%) | 26.30% |
Net Profit Margin |
(2.16%) | 1.17% | 0.62% | 3.23% | (4.16%) | 6.17% | (4.97%) | (2.38%) | (2.10%) | 23.84% |
Free Cash Flow Margin |
(6.66%) | (10.53%) | 2.23% | (13.97%) | 0.21% | (27.14%) | 6.36% | 5.61% | 2.68% | (14.75%) |
EBITDA |
0.08 | 6.76 | 16.60 | 13.00 | (6.07) | 10.62 | (0.24) | 4.06 | 6.26 | 1.14 |
EBIT |
(3.10) | 4.25 | 9.33 | 7.29 | (9.17) | 8.76 | (4.41) | 1.26 | 1.91 | (11.20) |
Income from Continuous Operations |
(4.94) | 2.46 | 4.21 | 3.17 | (8.39) | 12.23 | (11.78) | (4.68) | (5.41) | 84.65 |
Income from Discontinued Operations |
— | — | (1.01) | 8.07 | 0.00 | — | — | — | — | — |
Consolidated Net Income/Loss |
(4.94) | 2.46 | 3.20 | 11.23 | (8.39) | 12.23 | (11.78) | (4.68) | (5.41) | 84.65 |
EPS (Basic, from Continuous Ops) |
(1.55) | 1.20 | 0.77 | (0.15) | (2.53) | 3.79 | (4.14) | (1.66) | (1.97) | 31.32 |
EPS (Basic, from Discontinued Ops) |
— | — | (0.33) | 2.89 | 0.00 | — | — | — | — | — |
EPS (Basic, Consolidated) |
(1.55) | 1.20 | 1.05 | 4.02 | (2.91) | 4.25 | (4.14) | (1.66) | (1.97) | 31.32 |
EPS (Diluted, from Cont. Ops) |
(1.55) | 1.20 | 0.77 | (0.15) | (2.53) | 3.78 | (4.14) | (1.66) | (1.97) | 31.32 |
EPS (Diluted, from Disc. Ops) |
— | — | 0.00 | 0.00 | 0.00 | — | — | — | — | — |
Shares (Diluted, Average) |
3.19 | 3.07 | 2.04 | 2.80 | 2.88 | 2.89 | 2.85 | 2.82 | 2.75 | 2.70 |
EPS (Diluted, Consolidated) |
(1.55) | 1.20 | 1.05 | 4.01 | (2.91) | 4.23 | (4.14) | (1.66) | (1.97) | 31.32 |
EBITDA Margin |
0.05% | 3.48% | 7.70% | 5.49% | (3.47%) | 5.99% | (0.10%) | 1.42% | 2.15% | 0.35% |
Operating Cash Flow Margin |
(5.09%) | (0.14%) | 9.71% | (10.59%) | (1.04%) | (18.68%) | 6.84% | 5.99% | 8.05% | (7.66%) |