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Air T
(NASDAQ:AIRT)
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Rating:52Neutral
Price Target:
$28.00
▲(36.92% Upside)
Action:Reiterated
Date:07/08/26
The score is primarily held down by weak and inconsistent financial performance, with leverage/equity volatility and uneven cash generation (including negative TTM cash flow and data inconsistencies) as key risks. Technicals provide meaningful support due to a clear move above key moving averages and positive momentum. Valuation appears optically cheap on P/E but is less reliable given unstable earnings quality, while recent corporate events are directionally positive yet accompanied by signs of near-term financing reliance.
Positive Factors
Diversified Business Model
Air T operates a mix of contracted overnight air cargo services, ground-support equipment manufacturing/leasing, and non-operating investments. This multi-pronged model provides multiple cash and revenue sources, reducing reliance on a single cycle and supporting resilience across logistics and aviation demand shifts.
Negative Factors
Inconsistent profitability and earnings quality
Air T reported multi-year net losses with only thin operating margins in recent years, indicating unstable profit conversion. Persistent negative net income constrains internal reinvestment, reduces retained earnings capacity, and undermines predictability of sustainable operating cash flow over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Business Model
Air T operates a mix of contracted overnight air cargo services, ground-support equipment manufacturing/leasing, and non-operating investments. This multi-pronged model provides multiple cash and revenue sources, reducing reliance on a single cycle and supporting resilience across logistics and aviation demand shifts.
Read all positive factors
Air T (AIRT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$73.02M
Dividend YieldN/A
Average Volume (3M)942.00
Price to Earnings (P/E)1.0
Beta (1Y)0.10
Revenue Growth12.08%
EPS GrowthN/A
CountryUS
Employees1,666
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)28.85
Shares Outstanding2,696,509
10 Day Avg. Volume705
30 Day Avg. Volume942
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.74
Price to Sales (P/S)0.18
P/FCF Ratio-1.42
Enterprise Value/Market Cap3.32
Enterprise Value/Revenue0.74
Enterprise Value/Gross Profit3.92
Enterprise Value/Ebitda2.19
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Air T Business Overview & Revenue Model
Company Description
Air T, Inc. operates as a diversified company, offering an array of services across the United States and globally. Its primary business activities encompass rapid air cargo transportation, the manufacturing and sale of specialized ground support ...
How the Company Makes Money
Air T makes money through a portfolio of operating subsidiaries and investments. Its primary revenue driver has historically been contract air cargo services, where its aviation operations provide aircraft, crews, maintenance, and flight operation...
Air T Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
33
Negative
Cash Flow
41
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 327.09M | 291.85M | 286.83M | 247.32M | 177.08M |
| Gross Profit | 61.94M | 60.19M | 52.38M | 48.83M | 39.38M |
| EBITDA | 110.66M | 7.97M | 5.53M | 741.00K | 20.06M |
| Net Income | 77.98M | -6.14M | -6.82M | -12.29M | 10.93M |
Balance Sheet | |||||
| Total Assets | 409.12M | 173.78M | 177.17M | 189.56M | 207.60M |
| Cash, Cash Equivalents and Short-Term Investments | 21.36M | 6.35M | 7.10M | 5.81M | 6.47M |
| Total Debt | 224.70M | 129.12M | 125.20M | 137.52M | 143.99M |
| Total Liabilities | 317.90M | 168.24M | 158.37M | 163.87M | 171.12M |
| Stockholders Equity | 79.81M | -3.22M | 4.77M | 11.90M | 24.61M |
Cash Flow | |||||
| Free Cash Flow | -41.53M | 7.82M | 16.10M | 15.73M | -34.64M |
| Operating Cash Flow | -25.04M | 23.50M | 17.18M | 16.91M | -33.08M |
| Investing Cash Flow | -21.80M | -20.19M | -2.50M | -6.17M | -33.39M |
| Financing Cash Flow | 65.40M | -4.80M | -13.91M | -12.38M | 59.25M |
Air T Technical Analysis
Positive
20.45
Price Trends
23.00
Positive
22.54
Positive
21.90
Positive
Market Momentum
1.62
Negative
61.03
Neutral
37.62
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 20.45 is below the 20-day moving average (MA) of 25.00, below the 50-day MA of 23.00, and below the 200-day MA of 21.90, indicating a bullish trend. The MACD of 1.62 indicates Negative momentum. The RSI at 61.03 is Neutral, neither overbought nor oversold. The STOCH value of 37.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AIRT.
Air T Risk Analysis
Air T disclosed 67 risk factors in its most recent earnings report. Air T reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Air T Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $58.57M | 5.19 | 9.73% | ― | 13.55% | 9.71% | |
58 Neutral | $193.56M | -5.40 | -11.33% | ― | 27.63% | -209.88% | |
52 Neutral | $73.02M | 0.98 | 302.22% | ― | 12.08% | ― | |
51 Neutral | $19.37M | -0.33 | -440.71% | ― | ― | ― |
* Industrials Sector Average
AIRT
Air T
28.40
6.40
29.09%
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NCEW
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Air T Corporate Events
Business Operations and StrategyStock BuybackFinancial DisclosuresShareholder Meetings
Air T Releases Updated FY26 Investor Presentation Overview
Positive
Jun 29, 2026
Air T has released an updated investor presentation for use with potential investor groups, providing an FY26 fourth-quarter update on its portfolio and financial performance and highlighting its status as a “portfolio of powerful companies&...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Air T Adds Overline Credit Facility After Crestone Reorganization
Positive
Jun 16, 2026
On June 10, 2026, Air T reorganized its Crestone Asset Management business, buying out Mill Road Investors’ 10% stake in Crestone Asset Management, LLC for $6.2 million and then largely redeeming its interests in exchange for servicing agree...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.