Saturday 17 October 2026 Export AIRT’s income statement to Excel — free account

Air T, Inc.

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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Market cap: $80.0M
P/E: 1.2×
Fwd P/E: −9.4×
Dividend yield: —
F-score: 5/9
Altman Z: 1.28
Beneish M: −0.93
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

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

Fold the line items

Columns are period end dates

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