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

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 50.67%

Capital & Financial Ratios $m

Market Cap 79.97

Revenue 371.68

Net Income 69.63

Free Cash Flow (71.06)

Net Debt 223.44

Current Ratio 1.43

Debt/Equity 3.68

P/E ratio 1.22

Fwd P/E (9.40)

P/S ratio 0.21

P/B ratio 1.16

Past 5Y EPS Growth —

This Y EPS Growth —

Next Y EPS Growth —

Next Y revenue growth (26.09%)

Next 5Y EPS Growth —

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

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 6.04%

10-year low 10-year high

P/S against its own 10 years 29.49%

10-year low 10-year high

P/B against its own 10 years 4.06%

10-year low 10-year high

EV/Sales against its own 10 years 81.83%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2024	2025	2026	Q'26
Cash	10	8	26	23
Receivables	23	25	40	34
Inventory	61	39	77	90
Other	7	5	8	4
	103	79	160	158

	2024	2025	2026	Q'26
Payables	15	18	37	41
ST’ Debt	14	10	5	9
Other	—	0	0	—
	47	48	96	111

Compound Annual Growth %

	10y	5y	3y
Sales	8.24%	13.31%	9.77%
Cash Flow	0.00%	0.00%	0.00%
Earnings	33.27%	0.00%	0.00%
Book Value	8.65%	40.61%	84.00%

Revenue $m

	Jun	Sep	Dec	Mar	Year
’26	115	—	—	—	—
’26	71	64	71	121	327
’25	66	81	78	66	292
’24	71	79	64	73	287
’23	51	61	61	74	247
’22	37	43	45	51	177
’21	37	36	56	47	175

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Jun	Sep	Dec	Mar	Year
’26	(3)	—	—	—	—
’26	(1)	(5)	(18)	0	(25)
’25	0	3	16	4	23
’24	3	12	7	(6)	17
’23	(3)	(11)	10	21	17
’22	(9)	(14)	3	(13)	(33)
’21	(3)	(2)	(1)	5	(2)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Jun	Sep	Dec	Mar	Year
’26	(24)	—	—	—	—
’26	(1)	(6)	1	(42)	(48)
’25	0	(12)	16	4	8
’24	3	12	7	(6)	16
’23	(3)	(12)	10	21	16
’22	(9)	(15)	(11)	(14)	(48)
’21	(4)	(3)	(1)	9	0

Fiscal quarters ending in the months shown.

EPS $

	Jun	Sep	Dec	Mar	Year
’26	(5.86)	—	—	—	—
’26	(0.61)	1.61	(0.91)	28.75	28.85
’25	(0.12)	0.91	(0.47)	(2.55)	(2.23)
’24	(0.19)	(0.57)	(1.06)	(0.60)	(2.42)
’23	(0.50)	(0.43)	(0.21)	(3.15)	(4.32)
’22	0.10	2.60	(0.44)	1.51	3.78
’21	(0.29)	(1.01)	0.73	(1.96)	(2.53)

Fiscal quarters ending in the months shown.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	9.60	16.00	12.51	8.95	19.72	14.01	15.91	12.53	14.56	18.40	Analyst estimates 2027–2029 Powerpack
	High	16.67	29.53	24.50	42.93	43.05	29.53	28.95	30.60	26.70	35.00
People
People	Employees	708	775	769	478	452	500	584	624	646	1,666
	Revenue/emp, $m	0.21	0.25	0.28	0.50	0.39	0.35	0.42	0.46	0.45	0.20
Income, $m
Income, $m	Revenue	148	195	216	237	175	177	247	287	292	327
	Gross margin, %	15.75	18.66	23.29	22.27	19.86	23.29	21.42	20.25	23.37	38.12
	EBT	(4)	3	6	3	(12)	13	(11)	(4)	(5)	86
	EBT margin, %	(2.84)	1.36	2.77	1.11	(6.73)	7.57	(4.59)	(1.38)	(1.71)	26.30
	Net income	(5)	2	3	11	(8)	12	(12)	(5)	(5)	85
	Depreciation	3	3	7	6	3	2	4	3	4	12
Per share, $
Per share, $	Revenue	46.58	95.21	70.61	84.84	60.76	61.49	86.87	101.86	106.13	121.01
	Earnings	(1.01)	1.20	0.66	2.74	(2.53)	3.79	(4.32)	(2.42)	(2.23)	28.85
	Cash flow	(2.37)	(0.14)	6.86	(8.98)	(0.63)	(11.49)	5.94	6.10	8.54	(9.27)
	Capex	(0.73)	(9.89)	(5.28)	(2.87)	0.76	(5.20)	(0.41)	(0.38)	(5.70)	(8.58)
	Free cash flow	(3.10)	(10.03)	1.58	(11.85)	0.12	(16.68)	5.53	5.72	2.84	(17.85)
	Book value	6.95	11.87	7.65	8.96	5.11	8.93	4.56	2.07	(0.55)	29.92
	Shares, m	3	2	3	3	3	3	3	3	3	3
Valuation, ×
Valuation, ×	P/E	0.00	15.18	23.81	4.57	0.00	6.00	0.00	0.00	0.00	0.76
	P/S	0.29	0.18	0.28	0.15	0.39	0.37	0.29	0.21	0.16	0.18
	P/B	1.93	1.42	2.62	1.40	4.66	2.55	5.49	10.18	0.00	0.73
	EV/Sales	0.37	0.39	0.48	0.43	0.78	1.08	0.76	0.57	0.53	0.74
	EV/FCF	(5.61)	(3.71)	21.58	(3.10)	382.06	(3.96)	11.90	10.08	19.67	(5.01)
Cash, $m
Cash, $m	Operating cash flow	(8)	0	21	(25)	(2)	(33)	17	17	23	(25)
	Capex	(2)	(20)	(16)	(8)	2	(15)	(1)	(1)	(16)	(23)
	Free cash flow	(10)	(20)	5	(33)	0	(48)	16	16	8	(48)
Balance, $m
Balance, $m	Working capital	29	30	19	31	78	97	52	56	31	64
	Total debt	18	48	58	86	87	136	125	113	115	209
	Net debt	13	41	43	67	69	125	116	103	107	183
	Shareholders’ equity	22	24	23	25	15	26	13	6	(2)	81
Returns, %
Returns, %	ROA	(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)
	ROE	(11.19)	9.81	5.63	31.66	(36.64)	54.06	(63.54)	(72.53)	(285.45)	196.54

Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NNBR NN, Inc.	$327.2M	— (loss-making)	— (loss-making)	+19.29% (above 0%: growing)	n/m	+466.92% (above 0%: growing)	16.99%	0.78%	Compare
FIP FTAI Infrastructure Inc.	$302.6M	— (loss-making)	— (loss-making)	+52.73% (above 0%: growing)	n/m	+49.28% (above 0%: growing)	100.00%	(24.97%)	Compare
RCMT RCM Technologies, Inc.	$271.7M	16.2×	10.5×	+20.02% (above 0%: growing)	+38.00% (above 0%: growing)	+228.92% (above 0%: growing)	25.67%	8.48%	Compare
MAMK MaxsMaking Inc.	$216.1M	—	—	—	—	—	—	—	Compare
TUSK Mammoth Energy Services, Inc.	$130.4M	135×	5.4×	+110.91% (above 0%: growing)	n/m	−13.10% (below 0%: shrinking)	26.30%	10.09%	Compare
BOOM DMC Global	$107.6M	— (loss-making)	— (loss-making)	+0.94% (above 0%: growing)	n/m	−160.93% (below 0%: shrinking)	21.89%	3.32%	Compare
AIRT Air T, Inc.	$80.0M	1.2×	— (loss-making)	+62.92% (above 0%: growing)	n/m	−1,721.49% (below 0%: shrinking)	63.67%	(11.11%)
STRR Star Equity Holdings, Inc.	$36.9M	— (loss-making)	— (loss-making)	+54.58% (above 0%: growing)	n/m	−3,038.24% (below 0%: shrinking)	41.49%	(2.49%)	Compare
HHS Harte Hanks, Inc.	$32.3M	— (loss-making)	—	−1.67% (below 0%: shrinking)	n/m	+59.98% (above 0%: growing)	14.75%	(11.82%)	Compare
Median of peers	$173.3M	—	—	+20.02%	—	+49.28%	25.67%	0.78%

All 28 Conglomerates stocks →

Air T, Inc. (AIRT) key facts

Strength: Air T, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $327.1 million, up 12.1% from fiscal 2025.
Air T, Inc. (AIRT) is a Conglomerates company in the Industrials sector, listed on Nasdaq.
As of October 16, 2026, AIRT traded at $28.74, a market capitalization of $80.0 million.
Return on equity was 196.5% and debt-to-equity 3.68.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 1.28 (distress zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.