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AIR T Inc (AIRT) stock

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NASDAQ: AIRT Nasdaq Air Freight & Logistics Next results ~November 11, 2026

C+ Fundamentals grade

AIR T Inc is a US-listed company in the air freight & logistics industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for AIR T Inc is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

AIR T Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds5 adding, 3 cuttingOf 1 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter AIR T files

Where AIR T stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $372m, up 25.4% on a year earlier, faster than the 12.1% growth a quarter earlier. That growth ranks 1 of 10 among the air freight & logistics companies we cover. Free-cash-flow margin fell to -17.3% from 7.2% a year earlier. Operating margin narrowed to -6.7% from 1.1%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 7 financial-health checks.

Our model value for AIR T is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 14, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 11, 2026 (estimated)

AIR T Inc's trailing-twelve-month revenue grew 25.4% year on year, with a free-cash-flow margin of -17.3%. Where it stands out: revenue growth of 25.4% ranks 2 of 21 air freight & logistics companies we cover. Where it lags: long-term debt as % of assets of 52.5% ranks 14 of 15 air freight & logistics companies we cover.

Current signal Balance sheet growing far ahead of sales: Total assets grew 147% year over year while revenue grew 25% — the balance sheet is expanding 121 points faster than the business it supports.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 25.4% over the last 12 months, against a median of 6.4% for air freight & logistics companies we cover.
  • Growth speeding up. The growth rate is 13.4 points higher than a quarter earlier.
  • Shrinking share count. Diluted shares fell 1.3% in a year, so each share owns more of the business.

Things to watch

  • Results due soon. Results are expected around 11 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -6.7%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 7.8 points on a year ago.
  • Burning cash. Free cash flow was -17.3% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 57% and a beta of 0.6 against the S&P 500.
  • Weak cash conversion. Free cash flow was -101% of net income over the last 12 months.

Latest results: FY2027 Q1

Filed August 14, 2026
Revenue
$115m, up 62.9% on a year earlier
Share reaction
-4.1% in the first session after the results on August 14, 2026, against -0.7% for the S&P 500

AIR T's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.1%
  • 1 week+8.5%
  • 1 month-6.5%
  • This year+45.9%
  • 1 year+20.6%
  • 5 years+1.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$372M
Operating margin
-6.7%
Net margin
17.2%
EPS (TTM, diluted)
$23.62

Growth

Revenue growth
+25.4%
Change in growth rate
+13.4 pts
Share count change
−1.3%

Cash

Free cash flow (TTM)
-$64.4M
FCF margin
-17.3%

Earnings

Last results
August 14, 2026
Next results (est.)
November 11, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Shareholder vote
  3. Announcement
  4. Results
  5. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

AIR T Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value AIR T Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.72 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$230 ~$320–$550 Left out: out of range vs price (8.09x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare AIR T Inc with Air Freight & Logistics in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$16.11$13.45$16.87$20.13$12.51$23.77$22.75$25.05$22.20$16.90$21.80$27.87
Market value$58m$43m$52m$62m$35m$69m$66m$71m$63m$46m$59m$75m
+ Net debt (− = net cash)−$3m$16m$53m$70m$123m$82m$137m$158m$120m$105m$190m$232m
Enterprise value$54m$59m$104m$132m$158m$151m$202m$229m$183m$151m$249m$307m
Multiples
Price / sales 0.4x0.3x0.3x0.3x0.1x0.4x0.4x0.3x0.2x0.2x0.2x0.2x
Price / earnings 13.1x—22.8x46.0x4.6x—6.0x———0.8x1.2x
Price / free cash flow 29.4x——3.1x———4.5x3.9x2.1x——
EV / EBITDA 7.6xn/m15.6x7.9x12.1x—19.1x—45.0x24.1xn/m—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

24 /100

Weak moat

How hard AIR T's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 0.7% of total assets over 10 years.

  • Durability 0 / 20

    Operating margin has been a median 1.5%; its worst year was -6.7%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 4 of 10 years, at a median -4.2% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 6.3% over five years; stock-based pay has been a median 0.0% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (29 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for AIR T Inc: too few analysts cover it.

Management guidance

Earnings release, August 14, 2026

No numeric guidance in AIR T Inc's latest earnings release (filed August 14, 2026). Some companies give their outlook only on the earnings call.

Positioning

Short interest
3.5%
of tradable shares
Days to cover
0.59
at average volume
Short interest, 1 month
+46%
to October 15, 2026
Held by institutions
24%
of shares
Held by insiders
50.5%
of shares
Employees
1,666
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +20.6%

$23.10 on October 31, 2025 to $27.87

ThenNowEffect
Revenue (last 12 months) $296m $372m +25.4%
P/S multiple 0.2x 0.2x −5.0%
Share count 3m 3m +1.3%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +16.1%

$24.00 on November 3, 2023 to $27.87

ThenNowEffect
Revenue (last 12 months) $268m $372m +38.7%
P/S multiple 0.3x 0.2x −20.3%
Share count 3m 3m +5.0%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AIRT+1%−2%−32%+18%−4%+46%
Industry peers (median)+30%−26%+24%−14%−19%−23%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AIRT42%50%33%50%42%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AIRT−43%−50%−42%−49%−28%−25%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 68% from October 12, 2018 to May 14, 2020. Getting back needed a 213% gain, reached on December 24, 2020, 224 days after the low.

Price behaviour

52-week range
$18.35 – $34.26
From 52-week high
−18.7%
vs 50-day average
−6.1%
vs 200-day average
+10.6%
Volatility (1 year)
57%
Beta vs S&P 500
0.55

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 4 down
typical move ±6.9%
After a week
4 up, 4 down
typical move ±8.9%
After a month
6 up, 2 down
typical move ±13.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 14, 2026 −4.1% −0.7% −0.9% +1.6%
June 29, 2026 +10.0% +2.4% +16.3% +12.8%
February 13, 2026 −0.6% +0.2% −3.2% +0.6%
November 12, 2025 −0.3% −1.6% −7.7% −5.0%
August 13, 2025 +1.7% +0.4% +6.9% +16.7%
June 27, 2025 +14.0% +1.0% +13.1% +21.2%
February 12, 2025 −1.7% +0.7% −1.6% −11.0%
November 12, 2024 +23.1% −0.3% +21.3% +40.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

AIR T Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) AIR T Inc
$250M $300M $350M $400M FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $286.2M Revenue (TTM), FY24 Q3: $288.5M Revenue (TTM), FY24 Q4: $286.8M Revenue (TTM), FY25 Q1: $281.8M Revenue (TTM), FY25 Q2: $284.1M Revenue (TTM), FY25 Q3: $298.2M Revenue (TTM), FY25 Q4: $291.8M Revenue (TTM), FY26 Q1: $296.3M Revenue (TTM), FY26 Q2: $279.2M Revenue (TTM), FY26 Q3: $272.5M Revenue (TTM), FY26 Q4: $327.1M Revenue (TTM), FY27 Q1: $371.7M $371.7M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $286.2M
FY24 Q3 $288.5M
FY24 Q4 $286.8M
FY25 Q1 $281.8M
FY25 Q2 $284.1M
FY25 Q3 $298.2M
FY25 Q4 $291.8M
FY26 Q1 $296.3M
FY26 Q2 $279.2M
FY26 Q3 $272.5M
FY26 Q4 $327.1M
FY27 Q1 $371.7M
Revenue growth, TTM YoY AIR T Inc
-20% 0% 20% 40% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 37.3% Revenue growth, TTM YoY, FY24 Q3: 28.6% Revenue growth, TTM YoY, FY24 Q4: 16.0% Revenue growth, TTM YoY, FY25 Q1: 5.2% Revenue growth, TTM YoY, FY25 Q2: -0.7% Revenue growth, TTM YoY, FY25 Q3: 3.4% Revenue growth, TTM YoY, FY25 Q4: 1.7% Revenue growth, TTM YoY, FY26 Q1: 5.1% Revenue growth, TTM YoY, FY26 Q2: -1.7% Revenue growth, TTM YoY, FY26 Q3: -8.6% Revenue growth, TTM YoY, FY26 Q4: 12.1% Revenue growth, TTM YoY, FY27 Q1: 25.4% 25.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 37.3%
FY24 Q3 28.6%
FY24 Q4 16.0%
FY25 Q1 5.2%
FY25 Q2 -0.7%
FY25 Q3 3.4%
FY25 Q4 1.7%
FY26 Q1 5.1%
FY26 Q2 -1.7%
FY26 Q3 -8.6%
FY26 Q4 12.1%
FY27 Q1 25.4%
Operating margin (TTM) AIR T Inc
-10% -5% 0% 5% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: -1.4% Operating margin (TTM), FY24 Q3: -2.0% Operating margin (TTM), FY24 Q4: 0.4% Operating margin (TTM), FY25 Q1: 0.0% Operating margin (TTM), FY25 Q2: 1.0% Operating margin (TTM), FY25 Q3: 2.0% Operating margin (TTM), FY25 Q4: 0.6% Operating margin (TTM), FY26 Q1: 1.1% Operating margin (TTM), FY26 Q2: 1.9% Operating margin (TTM), FY26 Q3: -0.0% Operating margin (TTM), FY26 Q4: -3.4% Operating margin (TTM), FY27 Q1: -6.7% -6.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -1.4%
FY24 Q3 -2.0%
FY24 Q4 0.4%
FY25 Q1 0.0%
FY25 Q2 1.0%
FY25 Q3 2.0%
FY25 Q4 0.6%
FY26 Q1 1.1%
FY26 Q2 1.9%
FY26 Q3 -0.0%
FY26 Q4 -3.4%
FY27 Q1 -6.7%
FCF margin (TTM) AIR T Inc
-20% -10% 0% 10% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 16.0% FCF margin (TTM), FY24 Q3: 14.9% FCF margin (TTM), FY24 Q4: 5.6% FCF margin (TTM), FY25 Q1: 4.5% FCF margin (TTM), FY25 Q2: 1.1% FCF margin (TTM), FY25 Q3: 4.1% FCF margin (TTM), FY25 Q4: 7.7% FCF margin (TTM), FY26 Q1: 7.2% FCF margin (TTM), FY26 Q2: 4.7% FCF margin (TTM), FY26 Q3: -8.2% FCF margin (TTM), FY26 Q4: -12.7% FCF margin (TTM), FY27 Q1: -17.3% -17.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 16.0%
FY24 Q3 14.9%
FY24 Q4 5.6%
FY25 Q1 4.5%
FY25 Q2 1.1%
FY25 Q3 4.1%
FY25 Q4 7.7%
FY26 Q1 7.2%
FY26 Q2 4.7%
FY26 Q3 -8.2%
FY26 Q4 -12.7%
FY27 Q1 -17.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Mar 2011 2012 Mar 2012 2013 Mar 2013 2014 Mar 2014 2015 Mar 2015 2016 Mar 2016 2017 Mar 2017 2018 Mar 2018 2019 Mar 2019 2020 Mar 2020 2021 Mar 2021 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026 LTM Jun 2026
Income
Revenue 83 89 103 101 112 148 148 195 216 237 175 177 247 287 292 327 372
EBITDA 4 2 3 3 4 7 0 7 17 13 −6 11 −0 4 6 1 −4
Operating income 3 2 3 3 3 6 −3 4 9 7 −9 9 −4 1 2 −11 −25
Net income 2 1 2 1 2 4 −3 2 1 8 −7 11 −12 −7 −6 78 64
Diluted EPS $0.58 $0.37 $0.45 $0.40 $0.69 $1.23 −$1.01 $0.74 $0.44 $2.73 −$2.53 $3.78 −$4.32 −$2.42 −$2.23 $28.85 $23.62
Growth (year on year)
Revenue — +7.2% +15.3% −2.2% +11.3% +32.1% +0.2% +31.0% +10.8% +9.9% −26.0% +1.1% +39.7% +16.0% +1.7% +12.1% +25.4%
EBITDA — −35.9% +33.8% +3.8% +26.3% +67.0% −98.9% — +148.7% −21.6% −146.7% — −102.3% — — −81.8% −147.9%
Operating income — −39.7% +31.6% −3.5% +29.8% +76.5% −151.4% — +119.8% −21.9% −225.8% — −150.3% — — — —
Net income — −36.8% — — — +77.7% −172.8% — — — −195.0% — −212.5% — — — —
Diluted EPS — −36.8% — — — +76.9% −182.1% — — — −192.7% — −214.3% — — — —
Margins
EBITDA margin 4.6% 2.7% 3.2% 3.4% 3.8% 4.8% 0.1% 3.4% 7.7% 5.5% −3.5% 6.0% −0.1% 1.4% 2.1% 0.3% −1.1%
Operating margin 4.1% 2.3% 2.6% 2.6% 3.0% 4.1% −2.1% 2.2% 4.3% 3.1% −5.2% 4.9% −1.8% 0.4% 0.7% −3.4% −6.7%
Net margin 2.6% 1.5% 1.6% 1.5% 2.2% 3.0% −2.2% 1.2% 0.6% 3.2% −4.2% 6.2% −5.0% −2.4% −2.1% 23.8% 17.2%
Free-cash-flow margin −5.7% −2.0% 3.9% −1.8% 5.4% 1.3% −6.7% −1.2% 9.2% −11.6% −3.3% −19.5% 6.4% 5.6% 7.7% −12.7% −17.3%
Cash flow
Cash from operations −5 −1 4 −1 7 3 −8 −0 21 −25 −2 −33 17 17 23 −25 −27
Capital spending 0 1 0 1 1 1 2 2 1 2 4 2 1 1 1 16 38
Free cash flow −5 −2 4 −2 6 2 −10 −2 20 −28 −6 −35 16 16 22 −42 −64
Stock-based pay 0 0 0 0 0 0 −0 — — — — 0 — — — — —
Free cash flow after stock pay −5 −2 4 −2 6 2 −10 — — — — −35 — — — — —
Balance sheet
Cash 7 6 9 4 14 5 3 5 12 6 11 6 6 7 6 20 17
Total debt 0 0 7 7 14 2 18 57 82 129 93 142 164 127 111 211 249
Net debt (negative = net cash) −7 −6 −2 3 −1 −3 16 53 70 123 82 137 158 120 105 190 232
Diluted shares 4m 4m 4m 4m 4m 4m 3m 3m 3m 3m 3m 3m 3m 3m 3m 3m 3m
Returned to shareholders
Dividends 1 1 1 1 — — — — — — — — — — — — —
Buybacks 0 — — 1 — — 8 — 1 — — — — 1 1 0 —
Total returned 1 1 1 2 — — 8 — 1 — — — — 1 1 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $469m
Short-term assets $158mLonger-term assets $311m
What it owes, and who funded it · $451m
Short-term liabilities $111mLonger-term liabilities $275mShareholders' equity $65m
  • Short-term assets cover short-term liabilities $158m of assets due within a year against $111m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $158m short-term assets against $275m of longer-dated liabilities.
  • More cash than debt $17m of cash against $246m of debt.
  • Debt below 40% of shareholders' equity Debt is 378% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 537% to 378% over five years.
  • A year's operating cash flow covers at least 20% of debt −$27m of operating cash flow against $246m of debt.
  • Operating profit covers interest at least five times over Operating income of −$25m against $15m of interest.

From AIR T Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$2.3M
Diluted share count
−1.3%
year over year
Days sales outstanding
33 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in air freight & logistics
Last 12 months unless stated AIRT FLX BTOC RLGT SLGB JYD Median
Revenue, last 12 months $372m $555m $186m $934m $87m $84m $555m
Revenue growth, last 12 months 25.4% −10.6% −2.4% 3.5% −7.2% 6.4% 6.4%
Revenue growth, 3-year average 11.5% — — −4.9% — — 2.5%
Revenue growth, latest quarter 62.9% — −15.3% 18.5% — — 15.2%
Gross margin — 11.8% 0.2% 26.5% 4.7% 3.4% 10.9%
Operating margin −6.7% 1.2% −11.6% 2.6% −2.3% −6.3% −0.8%
Operating margin, 3-year average −1.9% — −5.3% 2.0% — — 2.0%
Net margin 17.2% 2.7% −11.2% 2.0% −2.9% −5.9% 1.0%
Cash from operations / revenue −7.2% 2.5% −2.8% 1.9% −6.5% −6.0% 1.0%
Free-cash-flow margin −17.3% 2.5% −3.8% 1.4% −6.5% −6.8% 1.0%
Free-cash-flow margin, 3-year average −1.9% — −1.9% 1.1% — — 1.5%
Stock pay / revenue −0.0% 1.2% — 0.2% 4.3% 2.3% 0.5%
Change in share count −1.3% 101.1% 6.9% −0.2% 0.9% 293.1% 0.8%

Median of all 21 companies we cover in air freight & logistics. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

21 air freight & logistics companies
Measure Company Peer median Rank
Revenue growth Growth 25.4% 6.4% 2 of 21
Change in growth rate Growth +13.4pp +2.4pp 5 of 21
Operating margin Profitability -6.7% -0.8% 16 of 21
Net margin Profitability 17.2% 1.0% 2 of 21
Free-cash-flow margin Cash generation -17.3% 1.0% 19 of 21
Long-term debt as % of assets Balance sheet 52.5% 16.8% 14 of 15
Change in share count Balance sheet -1.3% 0.9% 4 of 20
Days sales outstanding Balance sheet 33 days 55 days 5 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to March 31, 2026
Segments
Line of business Revenue YoY
Overnight Air Cargo $124M ▼ 0.3%
Commercial Aircraft Engines Inventory $89.9M ▼ 24.7%
Commercial Jet Engines Inventory $86.9M ▼ 26.5%
Passenger Airline $55.3M —
Ground Equipment Sales $47.2M ▲ 21.2%
Ground Support Equipment $47.2M ▲ 21.2%
Digital Solutions $9.1M ▲ 24.9%
Corporate and Other $4.9M ▲ 44.1%

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue Share YoY
Overnight Air Cargo $124M 37.8% ▼ 0.3%
Commercial Aircraft Engines and Parts $86.9M 26.6% ▼ 26.5%
Regional Airline $55.3M 16.9% —
Ground Support Equipment $47.2M 14.4% ▲ 21.2%
Digital Solutions $9.1M 2.8% ▲ 24.9%
Corporate and Other Income $4.9M 1.5% ▲ 44.1%

From AIR T Inc's 10-K filed June 29, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$5.3M
Institutions reporting
14
Shares held vs prior quarter
▲ 4.6%
Positions opened / closed
3 / 0

Top buyers and sellers, Q2 2026: 5 institutions bought and 3 sold ; the biggest buyer was Geode Capital Management, LLC (+11K shares) and the biggest seller Renaissance Technologies LLC (−3,000). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Renaissance Technologies LLC $2.7M 103K 51.4% ▼ 2.8%
Vanguard Capital Management LLC $1.1M 42K 20.3% 0.0%
Morgan Stanley $826,959 31K 15.5% ▼ 6.0%
Geode Capital Management, LLC $286,589 11K 5.4% New
Vanguard Fiduciary Trust Co $122,952 5K 2.3% 0.0%
Blackrock, Inc. $121,450 5K 2.3% ▲ 28.1%
Royal Bank Of Canada $69,000 3K 1.3% New
UBS Group AG $39,750 2K 0.7% ▼ 28.4%
Tower Research Capital LLC (TRC) $17,358 1K 0.3% ▲ 257.9%
Vanguard Global Advisers, LLC $15,264 1K 0.3% 0.0%
Bessemer Group Inc $3,000 0K 0.1% 0.0%
Fifth Third Bancorp $2,650 0K 0.0% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not AIR T Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 11, 2026 estimated from the company's past filing pattern, not announced

  • August 14, 2026
  • June 29, 2026
  • February 13, 2026
  • November 12, 2025
  • August 13, 2025
  • June 27, 2025

Recent SEC filings

Data status

When each part of this page on AIR T Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

AIR T Inc in brief

What does AIR T Inc do?
AIR T Inc is a US-listed company in the air freight & logistics industry. Its financial year ends in March.
What is AIR T Inc's stock ticker?
AIR T Inc trades under the ticker AIRT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is AIR T Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, AIR T Inc reported revenue of $372M, 25.4% higher than a year earlier, according to its SEC filings.
What is AIR T Inc's free cash flow?
AIR T Inc's free-cash-flow margin is -17.3% of revenue over the trailing twelve months, ranking 19 of the 21 air freight & logistics companies we cover.
Who are AIR T Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Renaissance Technologies LLC, Vanguard Capital Management LLC and Morgan Stanley. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is AIR T Inc's market cap?
On November 2, 2026, AIR T Inc's market capitalisation was about $75.3M, with a price-to-earnings ratio of 1.2 and net debt of $232M. Market figures come from third-party market data and may be delayed.
How much debt does AIR T Inc have?
AIR T Inc's debt-to-equity ratio is 377.8%, from its latest balance sheet (537.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are AIR T Inc's competitors?
In our Air Freight & Logistics peer group, the companies closest to AIR T Inc are Bingex Ltd, Armlogi Holding Corp., Radiant Logistics, Inc, Smart Logistics Global Ltd and Jayud Global Logistics Ltd. The side-by-side comparison below sets their revenue, margins and growth against AIR T Inc's.
When is AIR T Inc's next earnings date?
Around November 11, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — AIR T Inc announces its own schedule.