Saturday 17 October 2026
Export AIRT’s income statement to Excel — free account
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.
28.74
1.10
−3.69%
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| Mar '17 | Mar '18 | Mar '19 | Mar '20 | Mar '21 | Mar '22 | Mar '23 | Mar '24 | Mar '25 | Mar '26 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
1 | 4 | 5 | 4 | 2 | 5 | 5 | 6 | 6 | 5 |
P/E ratio |
0.00 | 15.18 | 23.81 | 4.57 | 0.00 | 6.00 | 0.00 | 0.00 | 0.00 | 0.76 |
Altman Z-Score |
3.63 | 3.11 | 2.99 | 2.35 | 2.18 | 1.95 | 1.90 | 2.31 | 2.10 | 1.28 |
P/S ratio |
0.29 | 0.18 | 0.28 | 0.15 | 0.39 | 0.37 | 0.29 | 0.21 | 0.16 | 0.18 |
Altman Z″-Score (non-manufacturers) |
4.01 | 3.40 | 2.47 | 2.37 | 3.68 | 3.93 | 1.97 | 2.31 | 1.27 | 1.75 |
P/FCF ratio |
0.00 | 0.00 | 12.74 | 0.00 | 190.82 | 0.00 | 4.53 | 3.68 | 5.95 | 0.00 |
Beneish M-Score |
(2.17) | (2.18) | (3.58) | (1.35) | (2.94) | 0.72 | (3.21) | (3.07) | (3.19) | (0.93) |
P/Operating CF |
13.75 | (4.02) | 3.11 | (2.27) | 14.16 | (4.89) | 3.44 | (9.92) | 11.28 | (1,339.21) |
P/B ratio |
1.93 | 1.42 | 2.62 | 1.40 | 4.66 | 2.55 | 5.49 | 10.18 | 0.00 | 0.73 |
Price to Tangible BV |
2.62 | 1.86 | 3.38 | 1.68 | 7.71 | 28.11 | 0.00 | 0.00 | 0.00 | 1.05 |
EV/Sales |
0.37 | 0.39 | 0.48 | 0.43 | 0.78 | 1.08 | 0.76 | 0.57 | 0.53 | 0.74 |
EV/EBITDA |
685.19 | 11.23 | 6.25 | 7.88 | 0.00 | 17.94 | 0.00 | 39.98 | 24.55 | 211.50 |
EV/Operating CF |
(7.35) | (273.40) | 4.96 | (4.08) | (75.40) | (5.76) | 11.07 | 9.45 | 6.54 | (9.65) |
EV/FCF |
(5.61) | (3.71) | 21.58 | (3.10) | 382.06 | (3.96) | 11.90 | 10.08 | 19.67 | (5.01) |
Quick Ratio |
1.24 | 0.75 | 0.50 | 0.48 | 1.06 | 1.39 | 0.58 | 0.71 | 0.68 | 0.69 |
Current Ratio |
2.41 | 1.98 | 1.35 | 1.45 | 3.75 | 4.15 | 1.81 | 2.20 | 1.65 | 1.67 |
Net Debt/EBITDA |
156.02 | 6.13 | 2.56 | 5.19 | (11.31) | 11.77 | (472.79) | 25.40 | 17.13 | 159.94 |
Debt/Assets |
28.22% | 49.50% | 50.07% | 56.67% | 62.16% | 65.42% | 65.99% | 63.74% | 66.12% | 51.11% |
Debt/Equity |
0.83 | 1.98 | 2.47 | 3.43 | 5.95 | 5.28 | 9.64 | 19.40 | (75.69) | 2.59 |
Asset Turnover |
2.53 | 2.39 | 2.03 | 1.78 | 1.20 | 1.02 | 1.25 | 1.56 | 1.66 | 1.12 |
Operating CF/Net income |
2.35 | (0.12) | 15.62 | (3.28) | 0.25 | (3.03) | (1.38) | (2.52) | (3.83) | (0.32) |
Capex/Depreciation |
(0.74) | (8.02) | (2.22) | (1.40) | 0.70 | (8.05) | (0.28) | (0.38) | (3.60) | (1.88) |
Interest Coverage |
(5.42) | 2.46 | 2.72 | 1.55 | (1.98) | 1.77 | (0.56) | 0.18 | 0.23 | (0.93) |
| (11.19%) | 9.81% | 5.63% | 31.66% | (36.64%) | 54.06% | (63.54%) | (72.53%) | (285.45%) | 196.54% | |
| (5.47%) | 2.80% | 1.26% | 5.74% | (4.98%) | 6.27% | (6.19%) | (3.72%) | (3.50%) | 26.76% | |
ROIC |
(5.57%) | 4.04% | 8.85% | 4.93% | (6.88%) | 3.63% | (2.14%) | 0.72% | 1.13% | (2.65%) |
Return on Tangible Assets |
(9.48%) | 6.49% | 5.87% | 21.26% | (8.45%) | 9.22% | (16.68%) | (8.87%) | (12.01%) | 34.43% |
Average Days of Receivables |
47.51 | 31.36 | 18.67 | 21.97 | 22.71 | 66.07 | 41.56 | 29.87 | 30.76 | 44.73 |
Research and Development Expense of Revenue |
0.70% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
14.96% | 14.98% | 15.59% | 16.80% | 19.57% | 16.84% | 17.32% | 17.82% | 19.82% | 24.71% |
Intangible Assets out of Total Assets |
0.09 | 0.06 | 0.05 | 0.03 | 0.04 | 0.11 | 0.12 | 0.12 | 0.12 | 0.06 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
0.13 | (0.33) | (0.33) | (0.80) | (0.30) | (0.82) | (0.84) | (1.16) | (2.08) | (2.86) |
Graham Number |
0.00 | 17.23 | 12.05 | 23.50 | 0.00 | 27.59 | 0.00 | 0.00 | 5.26 | 139.34 |
Earnings Yield |
(2.48%) | 6.59% | 4.20% | 21.90% | (10.64%) | 16.66% | (17.13%) | (11.51%) | (13.20%) | 132.29% |
Free Cash Flow Yield |
(23.08%) | (59.45%) | 7.85% | (94.74%) | 0.52% | (73.34%) | 22.06% | 27.19% | 16.82% | (81.86%) |
Revenue per Share |
46.58 | 95.21 | 70.61 | 84.84 | 60.76 | 61.49 | 86.87 | 101.86 | 106.13 | 121.01 |
Operating CF per Share |
(2.37) | (0.14) | 6.86 | (8.98) | (0.63) | (11.49) | 5.94 | 6.10 | 8.54 | (9.27) |
Capex per Share |
(0.73) | (9.89) | (5.28) | (2.87) | 0.76 | (5.20) | (0.41) | (0.38) | (5.70) | (8.58) |
Free Cash Flow per Share |
(3.10) | (10.03) | 1.58 | (11.85) | 0.12 | (16.68) | 5.53 | 5.72 | 2.84 | (17.85) |
Cash per Share |
1.81 | 3.23 | 4.96 | 6.57 | 6.54 | 3.79 | 3.25 | 3.47 | 2.77 | 9.73 |
Shareholders Equity per Share |
6.95 | 11.87 | 7.65 | 8.96 | 5.11 | 8.93 | 4.56 | 2.07 | (0.55) | 29.92 |
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 |
6.95 | 11.87 | 7.65 | 8.96 | 5.11 | 8.93 | 4.56 | 2.07 | (0.55) | 29.92 |
Free Cash Flow |
(9.89) | (20.49) | 4.81 | (33.08) | 0.36 | (48.05) | 15.73 | 16.10 | 7.82 | (48.24) |
Working Capital |
28.59 | 30.49 | 18.55 | 30.74 | 77.60 | 97.34 | 52.27 | 56.04 | 30.85 | 64.45 |
Capital Expenditures |
(2.34) | (20.21) | (16.13) | (8.00) | 2.18 | (14.97) | (1.18) | (1.08) | (15.68) | (23.19) |
Net Current Asset Value |
5.69 | (11.23) | (20.44) | (27.93) | (20.26) | (53.64) | (60.02) | (68.47) | (96.79) | (168.27) |
EV/EBIT |
0.00 | 17.89 | 11.12 | 14.05 | 0.00 | 21.75 | 0.00 | 128.47 | 80.59 | 0.00 |
Capex to Sales |
0.02 | 0.10 | 0.07 | 0.03 | (0.01) | 0.08 | 0.00 | 0.00 | 0.05 | 0.07 |
Price to Operating Income |
0.00 | 8.12 | 6.57 | 4.79 | 0.00 | 7.48 | 0.00 | 46.85 | 24.36 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.60 | 0.55 | 1.70 | 1.08 | 0.36 | 0.09 | 0.19 | 0.13 | 0.21 | 0.08 |
Cash ROIC |
(21.33%) | (25.96%) | 5.00% | (25.61%) | 0.30% | (27.86%) | 10.68% | 12.53% | 6.46% | (15.25%) |
Accounts Receivable Turnover |
9.18 | 10.79 | 15.54 | 18.74 | 13.93 | 8.25 | 8.22 | 11.11 | 12.14 | 10.11 |
Accounts Payable Turnover |
13.47 | 14.55 | 15.31 | 16.53 | 14.61 | 15.31 | 19.58 | 17.93 | 13.61 | 7.39 |
Inventory Turnover |
7.81 | 5.86 | 5.36 | 4.18 | 2.12 | 1.85 | 2.66 | 3.47 | 4.51 | 3.50 |
Average Days of Payables |
33.76 | 23.49 | 25.19 | 21.54 | 21.70 | 25.25 | 19.63 | 24.05 | 29.02 | 66.67 |
Days of Inventory on Hand |
57.71 | 78.96 | 60.62 | 120.22 | 187.18 | 201.98 | 133.59 | 96.89 | 62.86 | 139.08 |
Average Receivables |
16.17 | 18.02 | 13.87 | 12.64 | 12.57 | 21.47 | 30.11 | 25.82 | 24.04 | 32.34 |
Average Payables |
9.29 | 10.88 | 10.80 | 11.14 | 9.60 | 8.87 | 9.92 | 12.76 | 16.43 | 27.38 |
Average Inventory |
16.03 | 27.00 | 30.84 | 44.04 | 66.30 | 73.57 | 73.15 | 65.92 | 49.62 | 57.82 |
Average Assets |
58.75 | 81.24 | 106.14 | 133.29 | 146.09 | 174.17 | 198.58 | 183.36 | 175.47 | 291.45 |
Average Common Equity |
28.72 | 23.20 | 23.80 | 24.18 | 19.86 | 20.22 | 19.35 | 9.40 | 2.15 | 39.68 |
Columns are period end dates