AIR Industries vs Mind Technology
AIR Industries is the larger business, with $47.9m of revenue in fiscal 2025 against $40.9m for Mind Technology (1.2 times as much). Mind Technology grew faster (-12.6% against -13.0%). Mind Technology kept more of each dollar of sales as profit: a net margin of 1.8% against -2.7%.
| Latest fiscal year | AIR IndustriesAIRI, 2025 | Mind TechnologyMIND, 2026 |
|---|---|---|
| Revenue | $47.9m | $40.9m |
| Revenue growth | -13.0% | -12.6% |
| Net income | −$1.3m | $750,000 |
| Operating margin | -0.7% | — |
| Net margin | -2.7% | 1.8% |
| Return on equity | -7.6% | 2.2% |
| Free cash flow | −$4.7m | $1.9m |
| Cash | $4.6m | $19.1m |
| Total debt | $25.2m | — |
| Debt to equity | 131.4% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 160 | 157 |
| Market value | $12.6m | $35.4m |
| Price vs our value range | — | — |
| Moat score | 28 (Weak) | 27 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |