5 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 66.1% per year over the past 4 years.
Financial health
Total debt ($748M) exceeds cash ($377M); net debt is $370M.
Total debt has grown slower than revenue (40.8% vs 66.1% per year).
The company is unprofitable; at its current free-cash-flow burn it has roughly 2.7 years of cash runway.
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
$2.0B
-$265M
25.3%
-15.7%
-6.0%
-4.6%
-$141M
$748M
$377M
2025
$821M
$44M
38.8%
5.0%
4.9%
3.9%
-$21M
$30M
$41M
2024
$717M
$60M
39.6%
10.0%
7.3%
5.9%
-$8M
$28M
$73M
2023
—
-$176M
—
—
-32.0%
-21.4%
-$3M
$135M
$133M
2022
—
-$4M
—
—
-0.7%
-0.5%
-$32M
$190M
$77M
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
$480M
-$5M
25.9%
-2.3%
-0.1%
-0.1%
-$31M
$748M
$278M
Apr '26
$642M
-$24M
31.6%
-5.1%
-0.5%
-0.4%
$79M
$748M
$377M
Jan '26
$408M
-$244M
24.2%
-65.8%
-5.8%
-4.5%
-$18M
$748M
$290M
Nov '25
$473M
-$17M
22.0%
-6.4%
-0.4%
-0.3%
-$56M
$748M
$359M
Aug '25
$455M
-$67M
20.9%
-15.2%
-1.5%
-1.2%
-$146M
$748M
$686M
Apr '25
$275M
$17M
36.5%
5.0%
1.9%
1.5%
-$6M
$30M
$41M
Jan '25
$168M
-$2M
37.7%
-1.8%
-0.2%
-0.2%
-$30M
$25M
$47M
Oct '24
$188M
$8M
39.1%
3.7%
0.9%
0.7%
-$9M
$15M
$69M
Jul '24
$189M
$21M
43.0%
12.2%
2.5%
2.1%
$23M
$18M
$81M
Apr '24
—
$6M
—
—
0.7%
0.6%
-$21M
$28M
$73M
Jan '24
—
$14M
—
—
1.7%
1.4%
$49M
$40M
$108M
Oct '23
—
$18M
—
—
2.2%
1.8%
-$15M
$80M
$101M
Jul '23
—
$22M
—
—
3.8%
2.7%
-$21M
$130M
$106M
Apr '23
—
-$160M
—
—
-29.1%
-19.5%
-$2M
$135M
$133M
Jan '23
—
-$676000
—
—
-0.1%
-0.1%
-$26M
$168M
$78M
Oct '22
—
-$7M
—
—
-1.1%
-0.7%
$14M
$168M
$101M
Jul '22
—
-$8M
—
—
-1.4%
-0.9%
$10M
$188M
$93M
Apr '22
—
$7M
—
—
1.2%
0.8%
$8M
$190M
$77M
Jan '22
—
-$35000
—
—
-0.0%
-0.0%
-$24M
$193M
$83M
Oct '21
—
$3M
—
—
0.4%
0.3%
$4M
$195M
$105M
Valuation over time
How the market has priced AVAV 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 risen from 136.0× (Apr '24) to 213.2× (Mar '26).
The price-to-sales ratio has fallen from 11.3× (Apr '24) to 3.8× (Sep '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is AVAV growing its revenue and profit?
Over the past 4 years, Aerovironment Inc's revenue has grown 66.1% per year. These are computed facts, not advice.
How much debt does AVAV have?
As of FY2026, Aerovironment Inc reported $748M of total debt against $377M of cash.
What is AVAV's profit margin?
In FY2026, gross margin was 25.3%, operating margin -15.7%, and net margin -13.4%.
What is AVAV's P/E ratio?
As of Sep '26, Aerovironment Inc traded at a price-to-earnings ratio of about 213.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.