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AIR T INC AIRT

Nasdaq · stock · Air Courier Services · website · IPO 1984-04-24 · LEI

AIR T INC statistics & valuation

Market cap$65.1M
P / E0.8×
P / S0.2×
P / B0.8×
Net margin23.8%
Return on equity96.4%
FCF margin-12.7%
Net debt$187.9M
Net debt / EBITDA164.4×
Enterprise value USD$252.9M
Earnings yield EBIT/EV-4.4%
Return on capital-3.6%
Graham number +416.2%$139.36

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($139.36); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-2.20% 1.20% 0.60% 3.20% -4.20% 6.20% -5.00% -2.40% -2.10% 23.80% 2017201820192020202120222023202420252026
Gross margin (%)
2017201820192020202120222023202420252026
Operating margin (%)
-2.10% 2.20% 4.30% 3.10% -5.20% 4.90% -1.80% 0.40% 0.70% -3.40% 2017201820192020202120222023202420252026
Return on equity (%)
-14.00% 9.10% 5.50% 30.60% -49.50% 42.50% -94.70% -117.20% 96.40% 2017201820192020202120222023202420252026
Shares outstanding
2.1M 3.1M 3.1M 2.9M 2.9M 2.9M 2.8M 2.8M 2.8M 2.7M 2017201820192020202120222023202420252026
Net debt ($)
$43.3M $45.2M $79.9M $76.5M $130.2M $119.3M $105.8M $104.4M $187.9M 2017201820192020202120222023202420252026
Share buybacks ($)
2017201820192020202120222023202420252026
Return on assets (%)
-4.90% 2.30% 1.20% 5.10% -5.20% 5.30% -6.50% -3.80% -3.50% 19.10% 2017201820192020202120222023202420252026
Free cash flow margin (%)
-6.70% -1.20% 9.80% -12.10% -3.30% -19.50% 6.40% 5.60% 7.70% -12.70% 2017201820192020202120222023202420252026
Debt / equity (×)
1.91× 2.37× 3.43× 5.95× 5.28× 9.64× 19.40× 2.57× 2017201820192020202120222023202420252026
EPS ($)
-$1.51 $0.74 $0.44 $2.73 -$2.53 $3.78 -$4.32 -$2.42 -$2.23 $28.85 2017201820192020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

AIR T INC trades at about 0.9× earnings — below its 10-year norm (10-year range 0.7×–40.9×, median 11.6×).

0.7× 40.9×

Shaded band = 10-year range (0.7×–40.9×); dot = today's 0.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating margin-3.4%0.7%0.4%-1.8%4.9%-5.2%3.1%4.3%2.2%-2.1%
Net margin23.8%-2.1%-2.4%-5.0%6.2%-4.2%3.2%0.6%1.2%-2.2%
FCF margin-12.7%7.7%5.6%6.4%-19.5%-3.3%-12.1%9.8%-1.2%-6.7%
Return on assets19.1%-3.5%-3.8%-6.5%5.3%-5.2%5.1%1.2%2.3%-4.9%
Return on equity96.4%190.9%-117.2%-94.7%42.5%-49.5%30.6%5.5%9.1%-14.0%
Debt / equity2.57×-34.31×19.40×9.64×5.28×5.95×3.43×2.37×1.91×—
Current ratio1.671.652.201.814.153.751.451.351.982.41

Computed from company filings · US · as of 2026-03-31. Facts plus Stocktoria's own computed scores — not investment advice.