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