Air T (AIRT) AI Stock Analysis

• Market Cap: $51.89M
• Dividend Yield: N/A
• Average Volume (3M): 942.00
• Price to Earnings (P/E): ―
• Beta (1Y): 0.06
• Revenue Growth: -1.72%
• EPS Growth: -137.31%
• Country: US
• Employees: 624
• Sector: Industrials
• Sector Strength: 72
• Industry: Integrated Freight & Logistics
• EPS (TTM): 1.61
• Shares Outstanding: 2,702,639
• 10 Day Avg. Volume: 705
• 30 Day Avg. Volume: 942
• PEG Ratio: 0.96
• Price to Book (P/B): -14.45
• Price to Sales (P/S): 0.16
• P/FCF Ratio: 5.95
• Enterprise Value/Market Cap: 3.76
• Enterprise Value/Revenue: 0.70
• Enterprise Value/Gross Profit: 3.34
• Enterprise Value/Ebitda: 16.45
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: $21.00 ▲(1.45% Upside)

Air T's overall stock score reflects significant financial challenges and mixed technical indicators, offset by positive corporate events. The company's high leverage and negative profitability weigh heavily on the score, but recent strategic moves provide a potential path for improvement.

Positive Factors

Strategic Acquisition

The acquisition of Regional Express Holdings enhances Air T's market position in regional air connectivity, potentially driving long-term growth and operational synergies.

New Financing Agreements

New financing agreements improve Air T's operational flexibility and support strategic growth, enabling better capital management and investment in core operations.

Diversified Revenue Streams

Diversified revenue streams from air freight, ground handling, and ancillary services provide resilience against market fluctuations and support sustainable growth.

Negative Factors

High Leverage

High leverage increases financial risk and limits flexibility, potentially impacting Air T's ability to invest in growth and weather economic downturns.

Declining Revenue Trend

A declining revenue trend indicates challenges in maintaining market share and competitiveness, which could hinder long-term profitability and growth.

Negative Profitability

Negative profitability reflects operational inefficiencies and financial challenges, potentially limiting Air T's ability to reinvest in business development and innovation.

Air T Business Overview & Revenue Model

Company Description

Air T, Inc. (AIRT) is a diversified holding company that operates primarily in the air cargo and logistics sector. The company engages in various businesses, including air freight services, ground handling, and cargo transportation. Air T's core products and services revolve around providing efficient and reliable air cargo solutions to customers, enhancing connectivity and logistics capabilities in the aviation industry.

How the Company Makes Money

Air T generates revenue through multiple streams, primarily by offering air freight and cargo services. The company earns money from transporting goods via air, which involves charging clients for shipping services based on weight, distance, and delivery speed. Additionally, Air T benefits from ground handling services, where it manages cargo loading and unloading operations at airports. Key partnerships with airlines and logistics companies enhance its service offerings and expand its customer base. The company may also realize revenue from ancillary services related to cargo logistics, such as warehousing and distribution, which further contribute to its overall earnings.

Air T Financial Statement Overview

Summary

Air T faces significant financial challenges with declining revenues, negative profitability, and high leverage. The income statement shows a declining revenue trend and negative net profit margin. The balance sheet reveals high debt levels and negative return on equity. Cash flow management is relatively strong, providing some cushion against operational losses.

Income Statement

Air T's income statement shows a declining revenue trend with a negative revenue growth rate of -5.77% in the TTM period. The company has a negative net profit margin of -2.01%, indicating losses. However, the gross profit margin is relatively stable at around 20.95%, suggesting some operational efficiency. The EBIT and EBITDA margins are low, reflecting challenges in achieving profitability.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 18.22, indicating significant leverage and potential financial risk. The return on equity is negative at -4.90%, reflecting the company's inability to generate profit from shareholders' equity. The equity ratio is low, suggesting a heavy reliance on debt financing.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth by -40.61% in the TTM period. However, the operating cash flow to net income ratio is 0.30, indicating some ability to generate cash from operations despite net losses. The free cash flow to net income ratio is relatively high at 0.93, suggesting efficient cash management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	279.21M	291.85M	286.83M	247.32M	177.08M	175.12M
Gross Profit	58.49M	60.19M	52.38M	48.83M	39.38M	31.67M
EBITDA	11.86M	7.97M	5.53M	741.00K	20.06M	-4.32M
Net Income	-5.61M	-6.14M	-6.82M	-12.29M	10.93M	-7.28M
Balance Sheet
Total Assets	184.74M	173.78M	177.17M	189.56M	207.60M	140.75M
Cash, Cash Equivalents and Short-Term Investments	18.64M	6.35M	7.10M	5.81M	6.47M	12.40M
Total Debt	135.52M	129.12M	125.20M	137.52M	143.99M	95.94M
Total Liabilities	177.43M	168.24M	158.37M	163.87M	171.12M	119.44M
Stockholders Equity	69.00K	-3.22M	4.77M	11.90M	24.61M	13.72M
Cash Flow
Free Cash Flow	13.00M	7.82M	16.10M	15.73M	-34.64M	-7.82M
Operating Cash Flow	13.95M	23.50M	17.18M	16.91M	-33.08M	-1.82M
Investing Cash Flow	7.94M	-20.19M	-2.50M	-6.17M	-33.39M	2.52M
Financing Cash Flow	-13.55M	-4.80M	-13.91M	-12.38M	59.25M	71.00K

Air T Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 20.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AIRT, the sentiment is Positive. The current price of 20.7 is above the 20-day moving average (MA) of 19.67, below the 50-day MA of 20.80, and above the 200-day MA of 20.44, indicating a neutral trend. The MACD of -0.28 indicates Negative momentum. The RSI at 49.75 is Neutral, neither overbought nor oversold. The STOCH value of 21.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AIRT.

Air T Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SFWL	63 Neutral	$80.96M	7.02	9.93%	―	21.10%	31.75%
PAL	62 Neutral	$278.02M	-24.80	-3.26%	―	―	―
PSIG	52 Neutral	$14.02M	-2.29	―	―	―	―
AIRT	51 Neutral	$51.89M	-9.30	-157.83%	―	-1.72%	-137.31%

Air T Corporate Events

Air T Finalizes Rex Acquisition and Long-Term Financing

On December 17, 2025, Air T, Inc., through its subsidiary structure, completed the court-approved acquisition of all outstanding shares of Regional Express Holdings Limited (Rex), assuming approximately A$108 million of liabilities for a nominal cash price of $1.00, and simultaneously put in place a complex, multi-party financing stack to support Rex’s restructuring and ongoing operations. The deal is anchored by a US$40 million, 11.5% senior secured note issued to Honeywell-affiliated investors, whose proceeds fund a new A$50 million credit facility from Air T to the Rex group, and by amended and new loan facilities from the Commonwealth of Australia, which remains a secured creditor with about A$108 million outstanding and up to an additional A$60 million in undrawn funding for engine overhauls and operations. An intercreditor framework sets priority over aircraft and other collateral, mandates excess cash flow sweeps between Air T and the Commonwealth, and gives the Commonwealth step-in and equity acquisition rights if Air T-linked notes go unpaid, while new warrants in the acquisition vehicle align certain executives with the performance – and risk – of the Rex financing structure. Air T and Rex’s management present the transaction as the resolution of a financially challenging period and the start of a “revitalised” phase aimed at restoring Rex’s fleet from about 31 to 45 aircraft over two years and reinforcing regional air connectivity across Australia, with long-dated facilities and shared governance rights positioning both Air T and the Australian government as key long-term stakeholders in the airline’s future.

Air T Secures New Financing Agreements with Alerus

On November 24, 2025, Air T‘s subsidiaries, Air T Acquisition 22.1, LLC and Contrail Aviation Services, LLC, completed significant financing agreements with Alerus Financial. Air T Acquisition 22.1 secured a $6 million term loan to refinance existing debt, with terms including a 5% interest rate and a maturity date in 2032. Contrail Aviation Services established a $15 million revolving loan facility to support engine purchases and working capital, with a maturity date in 2027. These financial arrangements are expected to enhance Air T’s operational flexibility and support its strategic growth objectives.

Air T Updates Investor Presentation with Financial Insights

AIR T, INC. updated its investor presentation for potential investor groups, reflecting its financial performance and strategic initiatives as of September 30, 2025. The company reported a revenue of $135 million and an adjusted EBITDA of $9.3 million for the six-month period ended September 30, 2025. The update highlights a decrease in revenue compared to the prior year, primarily due to lower sales in the Commercial Aircraft Engines and Parts segment, while the Ground Support Equipment and Digital Solutions segments showed revenue growth. The company continues to focus on empowering dynamic management and capitalizing on growth opportunities across its diverse business segments.

Air T Advances in Regional Express Acquisition

On November 11, 2025, Air T, Inc. announced its progress in acquiring Regional Express Holdings Limited, an Australian regional airline. The acquisition bid received approval from a majority of Rex’s creditors, and Air T anticipates completing the transaction by the end of 2025, pending court and other necessary approvals.

Air T Announces Acquisition of Regional Express Holdings

On October 21, 2025, Air T, Inc. announced its entry into a process to acquire Regional Express Holdings Limited, a regional airline in Australia. The acquisition involves Air T’s indirect subsidiary acquiring all outstanding capital stock of Rex, pending necessary approvals. The transaction is expected to close by the end of 2025, but it is subject to numerous conditions, including court approval, and there is no assurance of completion.