AIR T INC · Air Courier Services

AIRT

Moderate riskNext report: Around Nov 11 (est.)

View price ↗

The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 63% in the latest quarter vs a year ago
Profitable, keeps 24% of sales as profit
Sales up 12% last year

Watch out for

Owes more than it owns (negative equity)
Bills due within a year exceed short-term assets

Money moves

No insider buying or selling in the last 30 days
Institutions added 5.1% to their holdings in the quarter ending June 2026 (5 bought, 3 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$26.28+1.0% that day

Company value: $70M; Share price times all shares
Price vs profit (P/E): 1.1x; You pay about $1 for each $1 of yearly profit
Price vs sales: 0.19x; Company value is 0.19 times a year of sales
Cash vs value: 24%; Cash as a share of company value
Debt vs value: 276%; Owes more than the whole company is worth

From AIRT's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$115.5M+63% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $371.7M, up 25% from the 12 months before. Over 5 years, sales grew about 13% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of AIRT. Starting points are the company's recent numbers.

Sales growth+25% a yearRecently: +25% a yearProfit margin17%Last 12 months: 17.2%P/E at the end8xToday: 1.1x. Many steady companies trade at 12x to 25xShare count change-2% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$1.1B

Profit in 5 years$193M

Price these guesses point to$636.37+2321% vs $26.28 todayAbout +89% a year, before dividends

What today's price needs: with a 17% margin and a 8x P/E, sales could shrink about 34% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

2/5Weak

MissDebt under half of equityNot relying on borrowed money.Owes more than it owns
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.23.8%
MissProfitable every yearSteady profits, not one good year.5 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$41.5M
PassShare count not growingNot diluting owners. Falling means buybacks.-5.1% in 3 years

Revenue: $327.1M; +12.1% vs prior year
5-year growth: +13.3%/yr; revenue, per year
Total debt: $194.2M
Current ratio: 0.96x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 14

Revenue: $115.5M; +62.9% YoY
EPS: -$5.86; vs -$0.61
Op. margin: -11.1%; -12.3 pts
Free cash flow: -$24.2M
Share count: -0.3%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 0.6
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+5.1%

Institutions added 5.1% to their holdings. 5 bought, 3 sold.

Shares held by institutions203K

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-1.6%

Cash runwayAt last year's cash burn

8 months

Debt to equityLatest balance sheet: debt compared with what owners have

Owes more than it owns

Shares outstandingLatest reported

Why moderate risk

High debt: 3.78x equity

Earnings reports

Last 12

Next reportAround Nov 11 (est.)Estimated from the same quarter last year

Results filedAug 14
Results filedJun 29
Results filedFeb 13
Results filedNov 12, 2025
Results filedAug 13, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

Offering prospectusJul 10 · View filing ↗Offering Offering prospectusJul 10 · View filing ↗Offering

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Major agreementSep 4 · Form 8-K ↗Current reportAug 28 · Form 8-K/A ↗Shareholder vote resultsAug 28 · Form 8-K ↗Current reportAug 26 · Form 8-K/A ↗Quarterly reportAug 14 · Form 10-Q ↗Earnings resultsAug 14 · Form 8-K ↗Investor disclosureAug 14 · Form 8-K ↗Planned insider saleJul 31 · Form 144 ↗5%+ holder update (active)Jul 17 · Form SCHEDULE 13D/A ↗Proxy statementJul 10 · Form DEF 14A ↗ARSJul 10 · Form ARS ↗DEFA14AJul 10 · Form DEFA14A ↗Major agreementJul 10 · Form 8-K ↗Offering prospectusJul 10 · Form 424B5 ↗Offering prospectusJul 10 · Form 424B5 ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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