15 years of revenue, profit, cash flow and balance-sheet history through FY2026,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 14.9% per year over the past 5 years.
Net income has grown faster than revenue (39.3% vs 14.9% per year).
Free cash flow has declined 7.9% per year over the past 5 years.
Financial health
Total debt ($894M) exceeds cash ($84M); net debt is $810M.
Total debt has grown faster than revenue (45.9% vs 14.9% per year).
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2026
$3.3B
$188M
18.8%
0.0%
11.0%
5.6%
$62M
$894M
$84M
2025
$2.8B
$13M
19.0%
0.0%
1.0%
0.4%
$1M
$968M
$97M
2024
$2.3B
$46M
19.1%
0.0%
3.9%
1.7%
$14M
$985M
$86M
2023
$2.0B
$90M
18.6%
0.0%
8.2%
4.9%
-$6M
$272M
$68M
2022
$1.8B
$79M
17.2%
0.0%
7.6%
5.0%
$58M
$100M
$54M
2021
$1.7B
$36M
16.7%
0.0%
—
2.3%
$94M
$135M
$52M
2020
$2.1B
$4M
13.0%
0.0%
—
0.2%
-$60M
$602M
$405M
2019
$2.1B
$8M
16.1%
0.0%
—
0.5%
$50M
$143M
$21M
2018
$1.7B
$16M
16.8%
0.0%
—
1.0%
$42M
$179M
$31M
2017
$1.6B
$57M
16.6%
0.0%
—
3.8%
-$3M
$156M
$10M
2016
—
$48M
—
—
—
3.3%
-$8M
$150M
$31M
2015
—
$10M
—
—
1.2%
0.7%
-$85M
$154M
$55M
2014
—
$73M
—
—
7.3%
3.4%
$119M
$154M
$89M
2013
—
$55M
—
—
6.0%
2.6%
$125M
$709M
$75M
2012
—
$68M
—
—
7.8%
3.1%
$3M
$792M
$68M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Aug '26
$918M
$40M
19.2%
0.0%
2.3%
1.2%
$44M
$880M
$105M
May '26
$928M
$51M
19.0%
0.0%
3.0%
1.5%
$43M
$894M
$84M
Feb '26
$845M
$68M
18.3%
0.0%
4.1%
2.0%
$66M
$888M
$79M
Nov '25
$795M
$35M
19.7%
0.0%
2.2%
1.1%
$6M
$953M
$76M
Aug '25
$740M
$34M
18.1%
0.0%
2.8%
1.2%
-$54M
$1.0B
$80M
May '25
$755M
$34M
19.9%
0.0%
2.8%
1.2%
$41M
$968M
$97M
Feb '25
$678M
-$9M
19.4%
0.0%
-0.8%
-0.3%
-$27M
$1.0B
$84M
Nov '24
$686M
-$31M
18.7%
0.0%
-2.6%
-1.1%
$14M
$987M
$62M
Aug '24
$662M
$18M
17.7%
0.0%
1.5%
0.6%
-$27M
$981M
$49M
May '24
$657M
$9M
19.4%
0.0%
0.8%
0.3%
$17M
$985M
$86M
Feb '24
$567M
$14M
19.4%
0.0%
—
0.7%
$15M
$275M
$69M
Nov '23
$545M
$24M
19.0%
0.0%
—
1.2%
$10M
$277M
$65M
Aug '23
$550M
-$600000
18.4%
0.0%
—
-0.0%
-$28M
$307M
$70M
May '23
$553M
$23M
19.5%
0.0%
2.1%
1.3%
$38M
$272M
$68M
Feb '23
$521M
$22M
18.1%
0.0%
—
1.3%
$8M
$186M
$53M
Nov '22
$470M
$23M
18.3%
0.0%
—
1.4%
-$52M
$197M
$49M
Aug '22
$446M
$23M
18.4%
0.0%
—
1.4%
$100000
$114M
$44M
May '22
$476M
$24M
18.9%
0.0%
2.3%
1.5%
$33M
$100M
$54M
Feb '22
$452M
$23M
17.8%
0.0%
—
1.4%
$12M
$105M
$41M
Nov '21
$437M
$21M
18.0%
0.0%
—
1.4%
$13M
$105M
$43M
Valuation over time
How the market has priced AIR against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 27.8× (Mar '23) to 23.3× (Nov '26).
The price-to-sales ratio has risen from 1.2× (Mar '23) to 1.3× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is AIR growing its revenue and profit?
Over the past 5 years, Aar Corp's revenue has grown 14.9% per year, and net income grown 39.3% per year. These are computed facts, not advice.
How much debt does AIR have?
As of FY2026, Aar Corp reported $894M of total debt against $84M of cash.
What is AIR's profit margin?
In FY2026, gross margin was 18.8%, operating margin —, and net margin 5.7%.
What is AIR's P/E ratio?
Aar Corp's P/E (TTM) is 22.58 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AIR stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 23.3× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.