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Aerovironment Inc (AVAV) stock

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NASDAQ: AVAV Nasdaq Aircraft Next results ~December 2, 2026

C Fundamentals grade

Aerovironment Inc is a US-listed company in the aircraft industry. Its financial year ends in April.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$96

Valuation models combined (3)

Base case. Range ~$64–$140. Weighted average of 3 models (forward price-to-earnings vs peers, forward price-to-sales vs peers, revenue-to-maturity model).

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Aerovironment 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.

Value diary

Our note on each quarter Aerovironment files

Where Aerovironment stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $2.00bn, up 84.4% on a year earlier, slower than 140.9% a quarter earlier. That growth ranks 19 of 931 among all the companies we cover. Free-cash-flow margin rose to -1.2% from -17.5% a year earlier. Operating margin narrowed to -12.6% from -4.7%. The diluted share count is up 51.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 3 of our 5 financial-health checks. Our revenue-to-maturity cash-flow model value is $156 a share, against a share price of $118.

Source: 10-Q filed September 10, 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 ~December 2, 2026 (estimated)

Aerovironment Inc's trailing-twelve-month revenue grew 84.4% year on year, with a free-cash-flow margin of -1.2%. Where it stands out: revenue growth of 84.4% ranks 25 of 581 industrials companies we cover. Where it lags: change in growth rate of -56.5pp ranks 560 of 580 industrials companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 86.8% while net income fell 351.5%: a 438pp divergence.

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 84.4% over the last 12 months, against a median of 7.6% for industrials companies we cover.

Things to watch

  • Growth slowing. The growth rate is 56.5 points lower than a quarter earlier.
  • Loss-making. Operating margin is -12.6%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 7.9 points on a year ago.
  • Burning cash. Free cash flow was -1.2% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 51.8% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 75% and a beta of 2.0 against the S&P 500.

Latest results: FY2027 Q1

Filed September 10, 2026
Earnings per share
$0.59 against an average estimate of $0.25: beat by 138.1%
Revenue
$480m, up 5.7% on a year earlier
Share reaction
-1.1% in the first session after the results on September 9, 2026, against -1.1% for the S&P 500
Guidance given
revenue $2.13bn to $2.23bn (fiscal year 2027); net income $10m to $27m (fiscal year 2027)
Next report
December 2, 2026; average EPS estimate $0.42

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

Price chart

  • 1 day+1.2%
  • 1 week-1.7%
  • 1 month-11.5%
  • This year-49.1%
  • 1 year-66.1%
  • 5 years+32.2%
  • 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)
$2B
Operating margin
-12.6%
Net margin
-10.1%
EPS (TTM, diluted)
$-4.07

Growth

Revenue growth
+84.4%
Change in growth rate
−56.5 pts
Share count change
+51.8%

Cash

Free cash flow (TTM)
-$25M
FCF margin
-1.2%
Stock pay % of revenue
1.6%

Earnings

Last results
September 9, 2026
Next results (est.)
December 9, 2026

News & updates

Updated October 31, 2026

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

  1. Announcement
  2. Announcement
  3. Partnership
  4. Announcement
  5. Announcement
  6. Announcement
  7. Announcement
  8. Shareholder vote
  9. Results
  10. Announcement
  11. Guidance
  12. Announcement
  13. Leadership
  14. Leadership

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

Aerovironment Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Aerovironment Inc as an operating company, with every model that fits that kind of business. Cost of equity 10.3%: the 10-year Treasury yield (4.9%) plus a beta of 1.2 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$15 ~$7.3–$22 Left out: out of range vs price (0.13x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$64 ~$73–$100 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1.6 Left out: out of range vs price (0.01x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$71 ~$59–$290 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$140 ~$110–$170 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$96 ~$64–$140 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Aerovironment Inc with Industrials sector 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$28.88$28.57$54.50$68.56$60.26$110.37$80.32$100.69$159.79$151.52$195.02$123.08
Market value$669m$666m$1.3bn$1.7bn$1.5bn$2.7bn$2.0bn$2.5bn$4.4bn$4.3bn$9.6bn$6.1bn
+ Net debt (− = net cash)−$124m−$80m−$144m−$173m−$255m$51m$113m$2m−$45m−$11m$370m$469m
Enterprise value$544m$586m$1.2bn$1.5bn$1.2bn$2.7bn$2.1bn$2.5bn$4.3bn$4.3bn$9.9bn$6.6bn
Multiples
Price / sales 2.9x2.9x4.8x5.3x4.0x6.8x4.4x4.7x6.1x5.2x4.8x3.1x
Price / earnings 74.6x50.8x72.7x34.8x35.3x115.3x——73.2x97.9x——
Price / free cash flow ——21.5x91.4x104.6x35.7x——————
EV / EBITDA 22.8x22.7x31.7x35.6x21.0x43.8x41.1x—40.2x52.1x——

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

33 /100

Weak moat

How hard Aerovironment'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 5 / 20

    Cash operating profit has been a median 5.1% of total assets over 10 years.

  • Pricing power 10 / 20

    Gross margin has been a median 39.2%, moving by 5.9 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 6.9%; its worst year was -25.5%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 6 of 10 years, at a median 3.3% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 103.6% over five years; stock-based pay has been a median 1.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

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

Forecasts and guidance

Next results: December 2, 2026, after the close. Analysts expect revenue of $510m and EPS of $0.42 (range $0.03 to $1.02) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.26 −2% $2.2bn +11%
Next $4.41 +35% $2.5bn +15%

Next year's EPS estimate has moved −0.3% in 90 days, across 22 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.7% on 90 days ago. In the last 30 days, 9 analysts raised Aerovironment Inc's forecast and 5 cut it.

Consensus EPS forecast Aerovironment Inc, last 90 days
$3.00 $3.50 $4.00 $4.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.24 Current fiscal year, 60 days ago: $3.24 Current fiscal year, 30 days ago: $3.27 Current fiscal year, 7 days ago: $3.26 Current fiscal year, Now: $3.26 $3.26 Next fiscal year, 90 days ago: $4.42 Next fiscal year, 60 days ago: $4.40 Next fiscal year, 30 days ago: $4.46 Next fiscal year, 7 days ago: $4.42 Next fiscal year, Now: $4.41 $4.41

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.24$4.42
60 days ago $3.24$4.40
30 days ago $3.27$4.46
7 days ago $3.26$4.42
Now $3.26$4.41

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $0.25 $0.59 +138.1%
Apr 2026 $1.47 $1.84 +25.0%
Jan 2026 $0.69 $0.64 −7.4%
Oct 2025 $0.79 $0.44 −44.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 9, 2026
  • revenue fiscal year 2027 $2.125bn to $2.225bn Maintained
    “For fiscal year 2027, the Company continues to expect revenue of between $2.125 billion and $2.225 billion, net income of between $10 million and $27 million, non-GAAP adjusted EBITDA of between $305 million and $325 million, earnings per diluted share of between $0.21 and $0.53 and non-GAAP earnings per diluted share, which excludes amortization of intangible assets and other non-cash purchase accounting expenses, of between $3.02 and $3.34.” source
  • earnings per diluted share fiscal year 2027 $0.21 to $0.53 Maintained
    “For fiscal year 2027, the Company continues to expect revenue of between $2.125 billion and $2.225 billion, net income of between $10 million and $27 million, non-GAAP adjusted EBITDA of between $305 million and $325 million, earnings per diluted share of between $0.21 and $0.53 and non-GAAP earnings per diluted share, which excludes amortization of intangible assets and other non-cash purchase accounting expenses, of between $3.02 and $3.34.” source
  • non-GAAP earnings per diluted share fiscal year 2027 $3.02 to $3.34 Non-GAAP Maintained
    “For fiscal year 2027, the Company continues to expect revenue of between $2.125 billion and $2.225 billion, net income of between $10 million and $27 million, non-GAAP adjusted EBITDA of between $305 million and $325 million, earnings per diluted share of between $0.21 and $0.53 and non-GAAP earnings per diluted share, which excludes amortization of intangible assets and other non-cash purchase accounting expenses, of between $3.02 and $3.34.” source
  • net income fiscal year 2027 $10m to $27m Maintained
    “For fiscal year 2027, the Company continues to expect revenue of between $2.125 billion and $2.225 billion, net income of between $10 million and $27 million, non-GAAP adjusted EBITDA of between $305 million and $325 million, earnings per diluted share of between $0.21 and $0.53 and non-GAAP earnings per diluted share, which excludes amortization of intangible assets and other non-cash purchase accounting expenses, of between $3.02 and $3.34.” source
  • non-GAAP adjusted EBITDA fiscal year 2027 $305m to $325m Non-GAAP Maintained
    “For fiscal year 2027, the Company continues to expect revenue of between $2.125 billion and $2.225 billion, net income of between $10 million and $27 million, non-GAAP adjusted EBITDA of between $305 million and $325 million, earnings per diluted share of between $0.21 and $0.53 and non-GAAP earnings per diluted share, which excludes amortization of intangible assets and other non-cash purchase accounting expenses, of between $3.02 and $3.34.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

24 analysts, Oct 2026
Buy1979%
Hold521%
Sell00%

Monthly trend

  1. Oct 2026613524
  2. Sep 2026611320
  3. Aug 2026611320
  4. Jul 2026611320

Counts of recommendations published by analysts covering Aerovironment Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.0%
of tradable shares
Days to cover
3.25
at average volume
Short interest, 1 month
+11%
to October 15, 2026
Held by institutions
89%
of shares
Held by insiders
0.9%
of shares
Employees
3,991
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

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AVAV−29%+38%+47%+22%+57%−49%
Industry peers (median)——————
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AVAV42%58%67%50%50%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AVAV−58%−32%−18%−35%−44%−70%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 71% from October 13, 2025 to October 21, 2026. Getting back needed a 249% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$117.51 – $392.86
From 52-week high
−68.7%
vs 50-day average
−12.3%
vs 200-day average
−33.2%
Volatility (1 year)
75%
Beta vs S&P 500
2.00

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, 8 down
typical move ±11.7%
After a week
5 up, 7 down
typical move ±14.2%
After a month
6 up, 6 down
typical move ±20.5%
Results releasedNext dayS&P 500 next day5 days21 days
September 9, 2026 −1.1% −1.1% +5.2% −7.5%
June 29, 2026 +19.7% +2.4% +17.8% +3.0%
March 10, 2026 −8.6% −0.3% −2.1% −21.8%
December 9, 2025 −13.2% +0.6% −16.9% +29.2%
September 9, 2025 +4.3% +0.5% +12.2% +72.0%
June 24, 2025 +22.9% +1.2% +32.0% +41.8%
March 4, 2025 −4.9% −0.1% −13.1% −11.1%
December 4, 2024 −14.2% +0.5% −20.1% −15.2%
September 4, 2024 −4.4% −0.4% −4.3% +4.6%
June 26, 2024 −7.7% +0.3% −11.6% −9.8%
March 4, 2024 +29.8% −1.1% +24.2% +14.1%
December 5, 2023 −9.5% −0.4% −10.7% −15.6%

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.

Aerovironment 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) Aerovironment Inc
$0 $1B $2B $3B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $653.6M Revenue (TTM), FY24 Q3: $705.8M Revenue (TTM), FY24 Q4: $716.7M Revenue (TTM), FY25 Q1: $753.9M Revenue (TTM), FY25 Q2: $761.5M Revenue (TTM), FY25 Q3: $742.6M Revenue (TTM), FY25 Q4: $820.6M Revenue (TTM), FY26 Q1: $1.1B Revenue (TTM), FY26 Q2: $1.4B Revenue (TTM), FY26 Q3: $1.6B Revenue (TTM), FY26 Q4: $2B Revenue (TTM), FY27 Q1: $2B $2B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $653.6M
FY24 Q3 $705.8M
FY24 Q4 $716.7M
FY25 Q1 $753.9M
FY25 Q2 $761.5M
FY25 Q3 $742.6M
FY25 Q4 $820.6M
FY26 Q1 $1.1B
FY26 Q2 $1.4B
FY26 Q3 $1.6B
FY26 Q4 $2B
FY27 Q1 $2B
Revenue growth, TTM YoY Aerovironment Inc
0% 50% 100% 150% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 47.6% Revenue growth, TTM YoY, FY24 Q3: 44.9% Revenue growth, TTM YoY, FY24 Q4: 32.6% Revenue growth, TTM YoY, FY25 Q1: 29.0% Revenue growth, TTM YoY, FY25 Q2: 16.5% Revenue growth, TTM YoY, FY25 Q3: 5.2% Revenue growth, TTM YoY, FY25 Q4: 14.5% Revenue growth, TTM YoY, FY26 Q1: 44.0% Revenue growth, TTM YoY, FY26 Q2: 79.9% Revenue growth, TTM YoY, FY26 Q3: 116.9% Revenue growth, TTM YoY, FY26 Q4: 140.9% Revenue growth, TTM YoY, FY27 Q1: 84.4% 84.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 47.6%
FY24 Q3 44.9%
FY24 Q4 32.6%
FY25 Q1 29.0%
FY25 Q2 16.5%
FY25 Q3 5.2%
FY25 Q4 14.5%
FY26 Q1 44.0%
FY26 Q2 79.9%
FY26 Q3 116.9%
FY26 Q4 140.9%
FY27 Q1 84.4%
Operating margin (TTM) Aerovironment Inc
-30% -20% -10% 0% 10% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: -16.8% Operating margin (TTM), FY24 Q3: -14.1% Operating margin (TTM), FY24 Q4: 10.0% Operating margin (TTM), FY25 Q1: 9.1% Operating margin (TTM), FY25 Q2: 6.6% Operating margin (TTM), FY25 Q3: 4.4% Operating margin (TTM), FY25 Q4: 5.0% Operating margin (TTM), FY26 Q1: -4.7% Operating margin (TTM), FY26 Q2: -6.5% Operating margin (TTM), FY26 Q3: -22.0% Operating margin (TTM), FY26 Q4: -15.7% Operating margin (TTM), FY27 Q1: -12.6% -12.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -16.8%
FY24 Q3 -14.1%
FY24 Q4 10.0%
FY25 Q1 9.1%
FY25 Q2 6.6%
FY25 Q3 4.4%
FY25 Q4 5.0%
FY26 Q1 -4.7%
FY26 Q2 -6.5%
FY26 Q3 -22.0%
FY26 Q4 -15.7%
FY27 Q1 -12.6%
FCF margin (TTM) Aerovironment Inc
-20% -10% 0% 10% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: -9.7% FCF margin (TTM), FY24 Q3: 1.5% FCF margin (TTM), FY24 Q4: -1.1% FCF margin (TTM), FY25 Q1: 4.8% FCF margin (TTM), FY25 Q2: 5.6% FCF margin (TTM), FY25 Q3: -4.9% FCF margin (TTM), FY25 Q4: -2.5% FCF margin (TTM), FY26 Q1: -17.5% FCF margin (TTM), FY26 Q2: -17.3% FCF margin (TTM), FY26 Q3: -14.0% FCF margin (TTM), FY26 Q4: -7.1% FCF margin (TTM), FY27 Q1: -1.2% -1.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 -9.7%
FY24 Q3 1.5%
FY24 Q4 -1.1%
FY25 Q1 4.8%
FY25 Q2 5.6%
FY25 Q3 -4.9%
FY25 Q4 -2.5%
FY26 Q1 -17.5%
FY26 Q2 -17.3%
FY26 Q3 -14.0%
FY26 Q4 -7.1%
FY27 Q1 -1.2%

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 2010 Apr 2010 2011 Apr 2011 2012 Apr 2012 2013 Apr 2013 2014 Apr 2014 2015 Apr 2015 2016 Apr 2016 2017 Apr 2017 2018 Apr 2018 2019 Apr 2019 2020 Apr 2020 2021 Apr 2021 2022 Apr 2022 2023 Apr 2023 2024 Apr 2024 2025 Apr 2025 2026 Apr 2026 LTM Aug 2026
Income
Revenue 250 293 325 240 252 259 234 229 271 314 367 395 446 541 717 821 1,977 2,003
Gross profit 97 117 129 93 94 104 106 97 108 128 153 165 141 174 284 319 501 530
EBITDA 39 45 52 15 22 10 24 26 36 41 57 63 51 −79 108 82 −46 −22
Operating income 30 34 43 4 12 2 20 21 30 34 47 43 −10 −179 72 41 −311 −253
Net income 21 26 30 10 14 3 9 13 18 47 41 23 −4 −176 60 44 −265 −203
Diluted EPS $0.94 $1.17 $1.36 $0.47 $0.60 $0.13 $0.39 $0.56 $0.75 $1.97 $1.71 $0.96 −$0.17 −$7.04 $2.18 $1.55 −$5.40 −$4.07
Growth (year on year)
Revenue — +17.2% +11.1% −26.1% +4.8% +3.1% −9.9% −2.1% +18.4% +15.9% +16.9% +7.5% +12.9% +21.3% +32.6% +14.5% +140.9% +84.4%
EBITDA — +14.6% +16.8% −71.7% +46.4% −51.9% +130.5% +7.9% +41.0% +14.0% +37.4% +9.7% −18.6% −254.4% — −24.0% −156.2% −130.7%
Operating income — +13.6% +26.9% −91.2% — −83.8% — +3.5% +46.5% +11.2% +39.3% −8.1% −122.8% — — −43.2% −862.3% —
Net income — +25.1% +17.5% −65.8% +31.6% −78.9% — +46.1% +36.4% +165.6% −13.4% −43.2% −118.0% — — −26.9% −707.8% —
Diluted EPS — +24.5% +16.2% −65.4% +27.7% −78.3% — +43.6% +33.9% +162.7% −13.2% −43.9% −117.7% — — −28.9% −448.4% —
Margins
Gross margin 38.8% 40.1% 39.8% 38.5% 37.2% 40.2% 45.2% 42.3% 39.7% 40.9% 41.7% 41.7% 31.7% 32.1% 39.6% 38.8% 25.3% 26.5%
EBITDA margin 15.6% 15.2% 16.0% 6.1% 8.6% 4.0% 10.2% 11.3% 13.4% 13.2% 15.5% 15.8% 11.4% −14.6% 15.0% 10.0% −2.3% −1.1%
Operating margin 12.0% 11.6% 13.3% 1.6% 4.9% 0.8% 8.6% 9.1% 11.2% 10.8% 12.8% 11.0% −2.2% −33.1% 10.0% 5.0% −15.7% −12.6%
Net margin 8.3% 8.9% 9.4% 4.3% 5.5% 1.1% 3.8% 5.7% 6.6% 15.1% 11.2% 5.9% −0.9% −32.6% 8.3% 5.3% −13.4% −10.1%
Free-cash-flow margin 10.1% 8.0% 1.2% 7.2% 10.7% 13.2% −0.0% −7.5% 22.2% 5.7% 3.8% 19.1% −7.2% −0.6% −1.1% −2.5% −7.1% −1.2%
Cash flow
Cash from operations 36 33 19 29 34 39 6 −8 70 27 25 87 −10 11 15 −1 −78 59
Capital spending 11 10 15 12 7 5 6 9 10 9 11 11 22 15 23 20 63 84
Free cash flow 25 23 4 17 27 34 −0 −17 60 18 14 75 −32 −3 −8 −21 −141 −25
Stock-based pay 2 2 3 3 4 4 4 3 5 7 6 7 5 11 17 21 38 32
Free cash flow after stock pay 24 21 1 14 23 30 −4 −21 55 11 8 68 −37 −14 −25 −42 −179 −57
Balance sheet
Cash 29 62 64 75 127 143 124 80 144 173 255 149 77 133 73 41 377 278
Total debt 0 0 0 0 0 0 0 0 0 0 0 200 190 135 28 30 748 748
Net debt (negative = net cash) −29 −62 −64 −75 −127 −143 −124 −80 −144 −173 −255 51 113 2 −45 −11 370 469
Diluted shares 22m 22m 22m 22m 23m 23m 23m 23m 24m 24m 24m 24m 25m 25m 27m 28m 49m 50m
Returned to shareholders
Buybacks — — — — — — 4 — — — — — — — — — — —
Total returned — — — — — — 4 — — — — — — — — — — —

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

3 of 5 checks passed · August 1, 2026
What it owns · $5.7bn
Short-term assets $1.9bnLonger-term assets $3.8bn
What it owes, and who funded it · $4.8bn
Short-term liabilities $442mShareholders' equity $4.4bn
  • Short-term assets cover short-term liabilities $1.9bn of assets due within a year against $442m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $278m of cash against $730m of debt.
  • Debt below 40% of shareholders' equity Debt is 17% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 30% to 17% over five years.
  • A year's operating cash flow covers at least 20% of debt $59m of operating cash flow against $730m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Aerovironment 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

Diluted share count
+51.8%
year over year
R&D spending
5.9%
of revenue
Sales & admin spending
21.1%
of revenue
Days sales outstanding
33 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in industrials
Last 12 months unless stated AVAV HXL RBC TTEC CAAP CTOS Median
Revenue, last 12 months $2.0bn $2.0bn $2.0bn $2.0bn $2.0bn $2.0bn $1.2bn
Revenue growth, last 12 months 84.4% 7.6% 17.4% −4.8% 6.4% 5.8% 7.6%
Revenue growth, 3-year average 50.8% 4.7% 10.0% −6.3% — 3.8% 5.1%
Revenue growth, latest quarter 5.7% 8.8% 15.2% −11.3% — 2.7% 9.7%
Gross margin 26.5% 25.2% 45.5% — 35.2% 22.6% 28.7%
Operating margin −12.6% 12.2% 24.4% −6.4% 24.9% 8.2% 5.6%
Operating margin, 3-year average −2.8% 10.2% 23.0% −3.3% 16.4% 7.2% 6.5%
Net margin −10.1% 8.5% 17.5% −10.2% 12.6% 1.4% 3.7%
Cash from operations / revenue 2.9% 14.7% 24.0% 4.2% 23.7% 13.6% 8.2%
Free-cash-flow margin −1.2% 10.4% 19.7% 2.0% 22.8% 0.2% 4.6%
Free-cash-flow margin, 3-year average −4.7% 10.5% 17.8% 0.1% 10.9% −2.5% 5.8%
Stock pay / revenue 1.6% 1.0% 1.7% 0.6% 0.1% 0.5% 0.8%
Change in share count 51.8% −5.3% 0.7% 1.3% 0.8% −0.2% 0.1%

Median of all 584 companies we cover in industrials. 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

584 industrials companies
Measure Company Peer median Rank
Revenue growth Growth 84.4% 7.6% 25 of 581
Change in growth rate Growth -56.5pp +1.1pp 560 of 580
Gross margin Profitability 26.5% 28.6% 242 of 443
Operating margin Profitability -12.6% 5.5% 441 of 544
Net margin Profitability -10.1% 3.8% 455 of 582
Free-cash-flow margin Cash generation -1.2% 4.6% 399 of 579
Stock pay as % of revenue Cash generation 1.6% 0.9% 348 of 512
Long-term debt as % of assets Balance sheet 12.7% 22.6% 130 of 453
Change in share count Balance sheet 51.8% 0.0% 493 of 529
Days sales outstanding Balance sheet 33 days 57 days 86 of 453

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

Where the revenue comes from

Fiscal year to April 30, 2026
Segments
Line of business Revenue Share YoY
Autonomous Systems $1.4B 68.7% ▲ 65.5%
Space Cyber and Directed Energy $619M 31.3% —
Products and services
Line of business Revenue YoY
Products $1.4B ▲ 104.3%
Precision Strike and Defense Systems $848M ▲ 136.0%
Services $561M ▲ 339.0%
Uncrewed Aircraft Systems $364M ▲ 3.4%
Cyber and Mission Solutions $345M —
Space and Directed Energy $273M —
Other $146M ▲ 33.6%

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

Geography
Region Revenue Share YoY
Geographic Distribution Domestic $1.4B 71.9% ▲ 263.5%
Geographic Distribution International $556M 28.1% ▲ 29.4%

From Aerovironment 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
$5.1B
Institutions reporting
609
Shares held vs prior quarter
▲ 0.1%
Positions opened / closed
94 / 99

Top buyers and sellers, Q2 2026: 314 institutions bought and 294 sold ; the biggest buyer was Hood River Capital Management LLC (+564K shares) and the biggest seller Blackrock, Inc (−1.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $575M 3.5M 11.2% ▼ 29.8%
State Street Corp $362M 2.2M 7.1% ▼ 4.2%
Vanguard Capital Management LLC $272M 1.6M 5.3% ▲ 1.8%
Vanguard Portfolio Management LLC $256M 1.5M 5.0% ▼ 8.6%
Baillie Gifford & Co $160M 967K 3.1% ▼ 5.8%
Heard Capital LLC $149M 904K 2.9% ▲ 25.3%
Mirae Asset Global Etfs Holdings Ltd. $141M 854K 2.7% ▼ 8.9%
Invesco Ltd. $115M 698K 2.2% ▲ 16.7%
Geode Capital Management, LLC $111M 672K 2.2% ▼ 26.5%
Van Eck Associates Corp $101M 613K 2.0% ▼ 10.9%
ARK Investment Management LLC $100M 608K 2.0% ▲ 8.6%
Stephens Investment Management Group LLC $93.7M 567K 1.8% ▲ 15.7%

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 Aerovironment Inc's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $2.1M 21 trades by 3 insiders · 100% under pre-set plans
Net ▼ $2.1M net selling
Insider Date Trade Shares Price Value
Page Stephen F Director September 15, 2026 Sell pre-set plan 250 $152.27 $38,068
Shackley Brian Charles SVP, Chief Accounting Officer September 15, 2026 Sell pre-set plan 100 $152.27 $15,227
Page Stephen F Director August 17, 2026 Sell pre-set plan 250 $191.98 $47,995
Shackley Brian Charles SVP, Chief Accounting Officer August 14, 2026 Sell pre-set plan 205 $201.86 $41,381
Page Stephen F Director July 15, 2026 Sell pre-set plan 248 $143.00 $35,464
Shackley Brian Charles SVP, Chief Accounting Officer July 15, 2026 Sell pre-set plan 300 $143.00 $42,900
Page Stephen F Director June 15, 2026 Sell pre-set plan 250 $174.41 $43,602
Page Stephen F Director May 15, 2026 Sell pre-set plan 250 $162.31 $40,578
Page Stephen F Director April 15, 2026 Sell pre-set plan 250 $197.29 $49,322
Shackley Brian Charles Chief Accounting Officer March 16, 2026 Sell pre-set plan 200 $212.52 $42,504
Page Stephen F Director March 16, 2026 Sell pre-set plan 250 $212.52 $53,130
Mcdonnell Kevin Patrick CFO March 10, 2026 Sell pre-set plan 396 $224.55 $88,922

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.

Trades by members of Congress

All 5 trades and filings

In the last 12 months, 1 member of Congress disclosed 3 purchases and 1 sale of Aerovironment Inc shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $1,001 - $15,000, traded July 2, 2026, filed September 4, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded March 3, 2026, filed April 7, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded January 27, 2026, filed February 13, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 9, 2026 estimated from the company's past filing pattern, not announced

  • September 9, 2026
  • June 29, 2026
  • March 10, 2026
  • December 9, 2025
  • September 9, 2025
  • June 24, 2025

Recent SEC filings

Data status

When each part of this page on Aerovironment 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.

Aerovironment Inc in brief

What does Aerovironment Inc do?
Aerovironment Inc is a US-listed company in the aircraft industry. Its financial year ends in April.
What is Aerovironment Inc's stock ticker?
Aerovironment Inc trades under the ticker AVAV on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Aerovironment Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Aerovironment Inc reported revenue of $2B, 84.4% higher than a year earlier, according to its SEC filings.
What is Aerovironment Inc's free cash flow?
Aerovironment Inc's free-cash-flow margin is -1.2% of revenue over the trailing twelve months, ranking 399 of the 579 industrials companies we cover.
Who are Aerovironment Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., State Street Corp and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Aerovironment Inc's market cap?
On November 2, 2026, Aerovironment Inc's market capitalisation was about $6.1B and net debt of $469M. Market figures come from third-party market data and may be delayed.
How much debt does Aerovironment Inc have?
Aerovironment Inc's debt-to-equity ratio is 16.6%, from its latest balance sheet (29.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are Aerovironment Inc's competitors?
In our Industrials peer group, the companies closest to Aerovironment Inc are Hexcel Corp, RBC Bearings Inc, Ttec Holdings, Inc., Corporacion America Airports S.a. and Custom Truck One Source, Inc. The side-by-side comparison below sets their revenue, margins and growth against Aerovironment Inc's.
Are insiders buying or selling Aerovironment Inc stock?
Over the last 12 months, Aerovironment Inc's directors and officers reported 0 open-market purchases and 21 sales on Form 4. The insider trading page charts every trade.
When is Aerovironment Inc's next earnings date?
Around December 2, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Aerovironment Inc announces its own schedule.