For the twelve months ended Jun 30, 2026, Air T Inc. reported $371.68M of revenue and $63.81M of net income.
AIRT revenue was $115.46M in fiscal Q1 2027 (ended Jun 30, 2026), up 62.9% from a year earlier and down 4.5% from the prior quarter. For the full fiscal 2026 it was $327.09M, up 12.1% from fiscal 2025. Compound annual growth was +13.3% over 5 years and +8.2% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2026 is the highest of the 15 fiscal years on file.
AIRT net income was -$15.81M in fiscal Q1 2027 (ended Jun 30, 2026), compared with -$1.64M a year earlier. For the full fiscal 2026 it was $77.98M, compared with -$6.14M in fiscal 2025. Compound annual growth was +33.3% over 10 years. Fiscal 2026 is the highest of the 15 fiscal years on file.
AIRT diluted EPS was -$5.86 in fiscal Q1 2027 (ended Jun 30, 2026), compared with -$0.61 a year earlier. For the full fiscal 2026 it was $28.85, compared with -$2.23 in fiscal 2025.
AIRT free cash flow was -$24.15M in fiscal Q1 2027 (ended Jun 30, 2026), compared with -$1.33M a year earlier. For the full fiscal 2026 it was -$41.53M, compared with $22.41M in fiscal 2025.
| Line item | Mar 31, 2026 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | Mar 31, 2019 | Mar 31, 2018 | Mar 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $327.09M | $291.85M | $286.83M | $247.32M | $177.08M | $175.12M | $236.78M | $215.50M | $194.52M | $148.47M |
| Research and development | - | - | - | - | - | - | - | - | $195.7K | $1.04M |
| Selling, general and admin | $80.84M | $57.85M | $51.11M | $42.84M | $29.82M | $34.26M | $39.78M | $33.61M | $29.14M | $22.21M |
| Operating income | -$11.20M | $1.91M | $1.26M | -$4.41M | $8.76M | -$9.18M | $7.29M | $9.33M | $4.25M | -$3.10M |
| Interest expense | $12.04M | $8.39M | $6.92M | $7.93M | $4.95M | $4.62M | $4.69M | $3.43M | $1.72M | - |
| Pre-tax income | $86.02M | -$4.99M | -$3.96M | -$11.35M | $13.40M | -$11.78M | $2.62M | $5.97M | $2.65M | -$4.22M |
| Income tax | $1.37M | $423.0K | $729.0K | $432.0K | $1.17M | -$3.39M | -$544.0K | $1.76M | $195.0K | $725.0K |
| Net income | $77.98M | -$6.14M | -$6.82M | -$12.29M | $10.93M | -$7.28M | $7.66M | $1.34M | $2.28M | -$3.21M |
| EPS, basic | $28.85 | -$2.23 | -$2.42 | -$4.32 | $3.79 | -$2.53 | $2.74 | $0.44 | $1.11 | -$1.51 |
| EPS, diluted | $28.85 | -$2.23 | -$2.42 | -$4.32 | $3.78 | -$2.53 | $2.73 | $0.44 | $1.11 | -$1.51 |
| Diluted shares | 2.7M | 2.8M | 2.8M | 2.8M | 2.9M | 2.9M | 2.8M | 3.1M | 2.0M | 2.1M |
| Line item | Mar 31, 2026 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | Mar 31, 2019 | Mar 31, 2018 | Mar 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $20.33M | $6.76M | $7.84M | $7.09M | $8.37M | $15.93M | $15.57M | $12.42M | $4.80M | $2.76M |
| Short-term investments | $1.03M | $422.0K | $531.0K | $0 | $859.0K | $1.41M | $1.68M | $1.76M | $290.4K | $2.13M |
| Receivables | $39.89M | $23.92M | $22.91M | $27.22M | $19.68M | $6.50M | $13.08M | $10.88M | $15.16M | $18.92M |
| Inventory | $77.13M | $38.52M | $60.72M | $71.13M | $75.17M | $71.97M | $60.62M | $27.45M | $34.23M | $19.78M |
| Current assets | $159.98M | $78.51M | $102.88M | $116.56M | $128.24M | $105.77M | $98.49M | $71.35M | $61.67M | $48.86M |
| Goodwill | $11.82M | $10.54M | $10.54M | $10.56M | $10.13M | $4.23M | $4.23M | $4.23M | $4.42M | $4.42M |
| Total assets | $409.12M | $173.78M | $177.17M | $189.56M | $207.60M | $140.75M | $151.43M | $115.14M | $97.15M | $65.34M |
| Current liabilities | $95.52M | $47.66M | $46.84M | $64.29M | $30.91M | $28.18M | $67.75M | $52.79M | $31.18M | $20.27M |
| Short-term debt | - | - | - | - | - | - | - | - | $9.23M | $25.0K |
| Total debt | $208.20M | $110.33M | $112.93M | $125.08M | $135.81M | $87.50M | $85.82M | $57.65M | $48.08M | - |
| Total liabilities | $317.90M | $168.24M | $158.37M | $163.87M | $171.12M | $119.44M | $120.34M | $86.31M | $70.91M | $41.73M |
| Shareholders' equity | $79.81M | -$1.52M | $5.82M | $12.98M | $25.72M | $14.71M | $25.01M | $23.36M | $24.24M | $22.16M |
| Line item | Mar 31, 2026 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | Mar 31, 2019 | Mar 31, 2018 | Mar 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$25.04M | $23.50M | $17.18M | $16.91M | -$33.08M | -$1.82M | -$25.07M | $20.94M | -$277.8K | -$7.55M |
| Capital expenditures | $16.48M | $1.08M | $1.08M | $1.18M | $1.53M | $3.90M | $2.44M | $1.17M | $2.12M | $2.35M |
| Free cash flow | -$41.53M | $22.41M | $16.10M | $15.73M | -$34.61M | -$5.72M | -$27.51M | $19.77M | -$2.40M | -$9.90M |
| Investing cash flow | -$21.80M | -$20.19M | -$2.50M | -$6.17M | -$33.39M | $2.52M | $8.61M | -$23.00M | -$27.04M | -$3.70M |
| Financing cash flow | $65.40M | -$4.80M | -$13.91M | -$12.38M | $59.25M | $71.0K | $19.24M | $9.55M | $28.74M | $8.69M |
| Share repurchases | $28.0K | $1.45M | $876.0K | - | - | - | - | $744.2K | - | $7.92M |
| Depreciation and amortization | $12.34M | $4.36M | $2.80M | $4.16M | $1.86M | $3.11M | $5.71M | $7.26M | $2.43M | $3.18M |
| Line item | Mar 31, 2026 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | Mar 31, 2019 | Mar 31, 2018 | Mar 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 12.1% | 1.7% | 16.0% | 39.7% | 1.1% | -26.0% | 9.9% | 10.8% | 31.0% | 0.2% |
| Net income growth, YoY | - | - | - | - | - | - | 471.3% | -41.2% | - | - |
| EPS growth, YoY | - | - | - | - | - | - | 520.5% | - | - | - |
| Operating margin | -3.4% | 0.7% | 0.4% | -1.8% | 4.9% | -5.2% | 3.1% | 4.3% | 2.2% | -2.1% |
| Net margin | 23.8% | -2.1% | -2.4% | -5.0% | 6.2% | -4.2% | 3.2% | 0.6% | 1.2% | -2.2% |
| Free cash flow margin | -12.7% | 7.7% | 5.6% | 6.4% | -19.5% | -3.3% | -11.6% | 9.2% | -1.2% | -6.7% |
| Return on equity | 97.7% | - | -117.2% | -94.7% | 42.5% | -49.5% | 30.6% | 5.7% | 9.4% | -14.5% |
| Return on assets | 19.1% | -3.5% | -3.8% | -6.5% | 5.3% | -5.2% | 5.1% | 1.2% | 2.3% | -4.9% |
| Current ratio | 1.67 | 1.65 | 2.20 | 1.81 | 4.15 | 3.75 | 1.45 | 1.35 | 1.98 | 2.41 |
| Debt to equity | 2.61 | - | 19.40 | 9.64 | 5.28 | 5.95 | 3.43 | 2.47 | 1.98 | - |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $115.46M | $120.94M | $71.13M | $64.15M | $70.87M | $66.31M | $77.88M | $81.24M | $66.41M | $72.68M | $63.76M | $78.97M |
| Selling, general and admin | $29.65M | $31.06M | $16.65M | $18.10M | $15.03M | $15.23M | $14.18M | $14.20M | $14.61M | $13.22M | $13.27M | $12.76M |
| Operating income | -$12.82M | -$13.77M | -$3.78M | $5.51M | $848.0K | -$2.58M | $1.42M | $3.62M | -$577.0K | $1.45M | -$1.61M | $761.0K |
| Interest expense | $5.67M | $5.09M | $2.38M | $2.25M | $2.31M | $1.72M | $2.56M | $2.16M | $1.95M | $1.73M | $1.53M | $1.85M |
| Pre-tax income | -$15.04M | $81.47M | -$1.88M | $7.23M | -$807.0K | -$7.49M | -$896.0K | $3.30M | $103.0K | -$1.06M | -$1.96M | -$1.12M |
| Income tax | $660.0K | -$817.0K | $121.0K | $2.20M | -$136.0K | -$331.0K | $347.0K | $336.0K | $71.0K | -$122.0K | $153.0K | $487.0K |
| Net income | -$15.81M | $77.72M | -$2.45M | $4.36M | -$1.64M | -$7.03M | -$1.30M | $2.52M | -$335.0K | -$1.70M | -$2.98M | -$1.61M |
| EPS, basic | -$5.86 | $28.76 | -$0.91 | $1.61 | -$0.61 | -$2.55 | -$0.47 | $0.91 | -$0.12 | -$0.60 | -$1.06 | -$0.57 |
| EPS, diluted | -$5.86 | $28.76 | -$0.91 | $1.61 | -$0.61 | -$2.55 | -$0.47 | $0.91 | -$0.12 | -$0.60 | -$1.06 | -$0.57 |
| Diluted shares | 2.7M | - | 2.7M | 2.7M | 2.7M | - | 2.8M | 2.8M | 2.8M | - | 2.8M | 2.8M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $16.67M | $20.33M | $37.37M | $17.46M | $15.22M | $6.76M | $18.77M | $9.18M | $8.71M | $7.84M | $5.19M | $5.92M |
| Short-term investments | $1.25M | $1.03M | $595.0K | $1.10M | $485.0K | $422.0K | - | - | - | $531.0K | $326.0K | - |
| Receivables | $33.30M | $39.89M | $43.18M | $18.64M | $24.63M | $23.92M | $24.58M | $30.77M | $22.83M | $22.91M | $18.14M | $26.59M |
| Inventory | $90.06M | $77.13M | $65.41M | $46.63M | $39.89M | $38.52M | $38.54M | $51.27M | $57.76M | $60.72M | $53.89M | $54.46M |
| Current assets | $158.12M | $159.98M | $161.06M | $95.81M | $92.93M | $78.51M | $90.12M | $102.61M | $100.67M | $102.88M | $89.33M | $98.27M |
| Goodwill | $19.59M | $11.82M | $11.90M | $11.90M | $11.90M | $10.54M | $10.40M | $10.68M | $10.50M | $10.54M | $10.62M | $10.46M |
| Total assets | $469.06M | $409.12M | $381.76M | $184.74M | $190.04M | $173.78M | $187.62M | $197.12M | $175.49M | $177.17M | $162.78M | $171.77M |
| Current liabilities | $110.69M | $95.52M | $167.68M | $46.45M | $49.05M | $47.66M | $47.33M | $45.11M | $46.85M | $46.84M | $44.80M | $50.76M |
| Total debt | $246.34M | $208.20M | $194.23M | $118.43M | $123.84M | $110.33M | $122.88M | $126.80M | $112.03M | $112.93M | $100.79M | $108.06M |
| Total liabilities | $385.90M | $317.90M | $375.87M | $177.43M | $184.75M | $168.24M | $173.62M | $181.04M | $162.91M | $158.37M | $141.74M | $148.52M |
| Shareholders' equity | $65.20M | $79.81M | -$1.17M | -$913.0K | -$2.92M | -$1.52M | $6.91M | $8.81M | $5.17M | $5.82M | $7.95M | $10.95M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$2.83M | -$44.0K | -$18.50M | -$5.41M | -$1.09M | $4.12M | $16.33M | $2.93M | $113.0K | -$5.97M | $7.25M | $12.41M |
| Capital expenditures | $21.32M | $15.26M | $783.0K | $213.0K | $231.0K | $149.0K | $351.0K | $242.0K | $339.0K | $398.0K | $121.0K | $153.0K |
| Free cash flow | -$24.15M | -$15.30M | -$19.28M | -$5.62M | -$1.33M | $3.97M | $15.98M | $2.69M | -$226.0K | -$6.37M | $7.13M | $12.26M |
| Investing cash flow | -$44.02M | -$28.80M | -$6.94M | $16.66M | -$2.72M | -$3.39M | -$2.60M | -$16.20M | $2.01M | -$2.72M | $63.0K | $177.0K |
| Financing cash flow | $42.30M | $11.65M | $50.00M | -$8.83M | $12.58M | -$12.79M | -$4.51M | $13.79M | -$1.29M | $11.24M | -$7.92M | -$13.15M |
| Depreciation and amortization | $9.88M | $8.64M | $1.58M | $827.0K | $1.28M | $1.32M | $1.33M | $949.0K | $760.0K | $710.0K | $699.0K | $700.0K |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 62.9% | 82.4% | -8.7% | -21.0% | 6.7% | -8.8% | 22.2% | 2.9% | -7.0% | -2.3% | 3.8% | 30.1% |
| Net income growth, YoY | - | - | - | 72.8% | - | - | - | - | - | - | - | - |
| EPS growth, YoY | - | - | - | 76.9% | - | - | - | - | - | - | - | - |
| Operating margin | -11.1% | -11.4% | -5.3% | 8.6% | 1.2% | -3.9% | 1.8% | 4.5% | -0.9% | 2.0% | -2.5% | 1.0% |
| Net margin | -13.7% | 64.3% | -3.4% | 6.8% | -2.3% | -10.6% | -1.7% | 3.1% | -0.5% | -2.3% | -4.7% | -2.0% |
| Free cash flow margin | -20.9% | -12.7% | -27.1% | -8.8% | -1.9% | 6.0% | 20.5% | 3.3% | -0.3% | -8.8% | 11.2% | 15.5% |
| Current ratio | 1.43 | 1.67 | 0.96 | 2.06 | 1.89 | 1.65 | 1.90 | 2.27 | 2.15 | 2.20 | 1.99 | 1.94 |
| Debt to equity | 3.78 | 2.61 | - | - | - | - | 17.80 | 14.39 | 21.68 | 19.40 | 12.67 | 9.86 |
Source: XBRL data Air T Inc. files with the SEC, latest filing dated Aug 14, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| AIRT | $371.68M | +25.4% | $63.81M | 17.2% | $76.9M |
| FDX | $94.72B | +7.7% | $4.43B | 4.7% | $74.67B |
| DAL | $71.80B | +14.1% | $3.29B | 4.6% | $60.40B |
| UAL | $65.55B | +12.3% | $3.58B | 5.5% | $39.11B |
| RYAAY | €15.54B | +11.4% | €2.17B | 14.0% | $32.49B |
| LUV | $31.55B | +14.5% | $1.05B | 3.3% | $22.67B |
| FDXF | $8.79B | -1.1% | $655.00M | 7.4% | $19.30B |
| LTM | $14.27B | +11.2% | $1.46B | 10.2% | $14.52B |
| AAL | $60.98B | +12.3% | -$481.00M | -0.8% | $9.38B |