For the twelve months ended Jun 30, 2026, Air T Inc. Air T Funding Alpha Income Trust reported $371.68M of revenue and $63.81M of net income.
AIRTP 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.
AIRTP 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.
AIRTP 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.
AIRTP 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. Air T Funding Alpha Income Trust 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 |
|---|---|---|---|---|---|
| AIRTP | $371.68M | +25.4% | $63.81M | 17.2% | $78.0M |
| FDX | $94.72B | +7.7% | $4.43B | 4.7% | $74.82B |
| DAL | $71.80B | +14.1% | $3.29B | 4.6% | $60.66B |
| UAL | $65.55B | +12.3% | $3.58B | 5.5% | $39.17B |
| RYAAY | €15.54B | +11.4% | €2.17B | 14.0% | $32.21B |
| LUV | $31.55B | +14.5% | $1.05B | 3.3% | $22.68B |
| FDXF | $8.79B | -1.1% | $655.00M | 7.4% | $19.41B |
| LTM | $14.27B | +11.2% | $1.46B | 10.2% | $14.35B |
| AAL | $60.98B | +12.3% | -$481.00M | -0.8% | $9.35B |