AIR T INC

AIRT

AIR T INC

AIRT

Insider Sentiment (TTM):

Last Purchase:2024-11-15Last Sale:-Shares Purchased (TTM):0Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:194,404Shares Outstanding:2,703,000Institutional Ownership Pct.:7.19%

Earnings Market Reaction:

Filing Date:2026-06-29Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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AIR T INC (AIRT) — SEC Financial Statements & Analysis

AIR T INC (AIRT) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Related Party	1	0	-0	3	3	2	-14	16	0	-	-	-
Nonrelated Party	9	0	-0	3	3	2	-14	16	0	-	-	-
Crestone Asset Management L L C	1	-	-	-	3	-	-	-	-	-	-	-
Bloomia	4	-	-	-	3	-	-	-	-	-	-	-
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	20	37	17	14	6	18	9	8	7	4	5	6
Marketable Securities Current	1	1	1	0	0	-	-	-	1	0	-	0
Restricted Cash And Cash Equivalents At Carrying V…	-	-	0	1	1	0	1	1	1	1	1	1
Restricted Cash Current	5	5	-	-	1	-	-	-	-	-	-	-
Restricted Investments Current	0	1	0	1	1	1	1	1	1	1	1	2
Accounts Receivable Net Current	40	43	19	25	24	25	31	23	23	18	27	32
Income Taxes Receivable	0	0	0	1	1	-	-	-	1	0	0	0
Inventory Net	77	65	47	40	39	39	51	58	61	54	54	64
Prepaid Expense And Other Assets Current	-	-	-	-	-	-	-	-	5	10	10	8
Prepaid Expense Current	9	3	4	4	3	3	2	2	2	-	-	-
Other Assets Current	8	5	8	7	4	4	5	5	3	-	-	-
Assets Current	160	161	96	93	79	90	103	101	103	89	98	113
Finance Lease Right Of Use Asset	0	0	0	14	15	15	16	0	0	-	-	0
Property Plant And Equipment Net	162	136	20	20	20	21	21	21	21	21	21	21
Intangible Assets Net Excluding Goodwill	13	14	10	10	10	10	11	11	11	11	11	12
Operating Lease Right Of Use Asset	15	15	12	13	13	14	14	13	11	12	12	12
Equity Method Investments	26	34	28	20	19	19	18	16	17	15	14	14
Goodwill	12	12	12	12	11	10	11	11	11	11	10	11
Other Assets Noncurrent	8	5	2	2	2	3	3	3	4	4	4	4
Assets	409	382	185	190	174	188	197	175	177	163	172	187
Liabilities And Stockhold…
Lines Of Credit Current	-	-	-	-	-	-	-	-	14	17	24	23
Liabilities Current
Accrued Income Taxes Current	-	-	-	-	-	0	0	0	0	0	0	0
Accounts Payable Current	37	16	16	18	18	10	16	14	15	14	12	11
Taxes Payable Current	1	1	1	-	0	-	-	-	-	-	-	-
Accrued Liabilities Current	50	47	22	21	17	16	14	15	16	12	12	15
Long Term Line Of Credit	-	-	-	-	-	-	-	-	99	83	84	99
Operating Lease Liability Current	3	3	3	3	2	2	2	2	2	2	2	2
Liabilities Current	96	168	46	49	48	47	45	47	47	45	51	50
Deferred Income Tax Liabilities Net	3	2	2	2	2	2	2	2	2	3	3	3
Operating Lease Liability Noncurrent	12	13	11	11	12	12	13	12	11	11	11	11
Other Liabilities Noncurrent	2	2	0	1	1	3	2	1	0	0	0	0
Liabilities	318	376	177	185	168	174	181	163	158	142	149	162
Redeemable Noncontrolling Interest Equity Carrying…	10	8	8	8	7	7	7	7	13	13	12	13
Stockholders Equity Inclu…
Stockholders Equity
Preferred Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Value	1	1	1	1	1	1	1	1	1	1	1	1
Treasury Stock Common Value	-6	-6	-6	-6	-6	-6	-5	-5	-5	-4	-4	-4
Additional Paid In Capital	1	1	1	1	1	1	1	1	1	1	1	1
Retained Earnings Accumulated Deficit	80	2	5	0	2	9	10	8	8	9	12	13
Accumulated Other Comprehensive Income Loss Net Of…	4	1	-0	-0	-1	-0	0	-0	-0	0	0	1
Stockholders Equity	81	-2	0	-3	-2	7	9	5	5	7	11	11
Minority Interest	1	-1	-1	2	2	2	2	1	1	1	1	1
Liabilities And Stockholders Equity	409	382	185	190	174	188	197	175	177	163	172	187
Allowance For Doubtful Accounts Receivable Current	2	2	1	1	1	2	2	1	1	1	1	1
Finance Lease Right Of Use Asset Accumulated Amort…	0	0	0	2	1	1	0	0	0	-	-	0
Accumulated Depreciation Depletion And Amortizatio…	19	11	10	10	9	9	8	8	8	8	7	7
Finite Lived Intangible Assets Accumulated Amortiz…	8	8	7	7	6	6	6	5	5	5	5	4
Long Term Debt Fair Value	-	24	-	-	-	-	-	-	-	-	-	-
Preferred Stock Par Or Stated Value Per Share	1	1	1	1	1	1	1	1	1	1	1	1
Preferred Stock Shares Authorized	4	4	4	4	4	4	4	4	4	4	4	4
Common Stock Par Or Stated Value Per Share	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25
Common Stock Shares Authorized	4	4	4	4	4	4	4	4	4	4	4	4
Common Stock Shares Issued	3	3	3	3	3	3	3	3	3	3	3	3
Shares Outstanding	3	3	3	3	3	3	3	3	3	3	3	3
Treasury Stock Common Shares	0	0	0	0	0	0	0	0	0	0	0	0

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10‑Q10‑K

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	19.16%	6.12%	7.94%	-6.83%	-8.74%	7.64%	-11.74%	-8.36%	-11.28%	-	-	-
2025	-0.71%	-17.72%	-25.65%	47.56%	31.36%	32.48%	-10.29%	-22.29%	-19.54%	-4.98%	-1.91%	11.65%
2024	-3.52%	-0.40%	2.99%	-22.85%	-22.89%	-22.89%	-3.48%	22.28%	45.00%	24.09%	-8.77%	-8.31%
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Performance and Valuation Metrics

Metrics	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Liquidity Ratios
Current Ratio	1.67	0.96	2.06	1.89	1.65	1.90	2.27	2.15	2.20	1.99	1.94	2.27
Quick Ratio	0.77	0.55	0.98	1.00	0.77	1.04	1.09	0.87	0.85	0.57	0.67	0.82
Working Capital	64.45M	-6.62M	49.36M	43.88M	30.85M	42.79M	57.50M	53.82M	56.04M	44.53M	47.51M	63.07M
Leverage & Debt
Debt to Equity	3.93	-174.99	2,571.51	-63.31	-110.83	25.14	20.55	31.52	27.21	20.56	13.56	14.28
Interest Coverage TTM	-0.93	-0.04	0.54	0.33	0.23	0.71	0.39	0.00	0.18	-0.81	-0.51	-0.58
Debt Ratio	0.78	0.98	0.96	0.97	0.97	0.93	0.92	0.93	0.89	0.87	0.86	0.87
Efficiency & Turnover
Asset Turnover TTM	1.12	0.96	1.46	1.62	1.66	1.70	1.54	1.55	1.56	1.54	1.44	1.34
Days Sales Outstanding TTM	35.60	45.39	32.29	29.23	29.28	26.15	36.84	35.51	31.89	20.96	31.35	32.71
Receivables Turnover TTM	10.25	8.04	11.30	12.49	12.46	13.96	9.91	10.28	11.44	17.41	11.64	11.16
Per Share Metrics
Diluted EPS TTM	28.85	-2.44	-2.02	-2.53	-2.23	0.46	0.16	-1.49	-1.66	-4.78	-3.99	-3.86
Free Cash Flow Per Share TTM	-15.36	-8.23	4.81	7.89	8.15	4.38	1.17	4.63	5.72	15.24	16.23	7.70
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	68.17%	61.85%	62.92%	64.58%	64.10%	65.29%	63.96%	64.63%	65.94%	67.12%	68.71%	68.14%
Operating Profit Margin TTM	-3.42%	-0.14%	1.73%	0.99%	0.65%	1.99%	1.02%	0.01%	0.44%	-1.99%	-1.40%	-1.71%
Net Profit Margin TTM	23.84%	-2.42%	-1.95%	-2.31%	-2.10%	0.42%	0.16%	-1.46%	-1.63%	-4.67%	-3.93%	-4.06%
Growth Metrics
Net Revenue Growth (1Y)	12.07%	-8.63%	-1.72%	5.14%	1.75%	3.36%	-0.73%	5.20%	15.98%	28.59%	37.30%	40.28%
Net Income Growth (1Y)	-1,370.08%	-623.38%	-1,311.33%	66.05%	31.08%	-109.36%	-104.00%	-62.13%	-60.25%	-624.97%	-986.54%	-203.60%
EPS Growth (1Y)	-1,392.17%	-633.64%	-1,336.88%	69.62%	34.23%	-109.59%	-104.08%	-61.35%	-59.82%	-627.58%	-1,000.68%	-205.36%
Valuation Metrics
P/E TTM	0.76	-7.82	-11.76	-8.69	-7.57	43.57	99.11	-14.29	-13.35	-3.54	-5.60	-6.50
P/B	0.73	-24.04	929.21	-20.39	-30.62	7.96	5.06	11.40	10.74	6.92	5.75	6.24
P/S TTM	0.18	0.19	0.23	0.20	0.16	0.18	0.16	0.21	0.22	0.17	0.22	0.26
Market Cap	58.93M	51.63M	64.12M	59.49M	46.47M	54.98M	44.60M	58.89M	62.52M	47.69M	63.03M	70.73M
Enterprise Value	33.66M	14.26M	46.33M	44.27M	39.72M	36.22M	35.42M	50.19M	69.03M	59.87M	81.01M	87.03M
Calculated Values
Free Cash Flow TTM	-41.53M	-22.26M	13.00M	21.32M	22.42M	12.08M	3.23M	12.80M	16.10M	43.02M	45.78M	21.69M
Net Debt	-25.27M	-37.37M	-17.79M	-15.22M	-6.76M	-18.77M	-9.18M	-8.71M	6.52M	12.18M	17.98M	16.30M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2024-11-15Purchase

Owner: Foudray, William R

Title: -

Shares: 1,250

Price/Share: $18.00

Value: $22,500.00

Shares Owned: 12,500

Relationship: Director

Ownership: Direct

2022-09-16Purchase

Owner: Mcclung, Peter B.

Title: -

Shares: 2,500

Price/Share: $14.75

Value: $36,875.00

Shares Owned: 7,500

Relationship: Director

Ownership: Direct

2022-09-16Purchase

Owner: Cabillot, Raymond E

Title: -

Shares: 1,991

Price/Share: $15.50

Value: $30,860.50

Shares Owned: 13,146

Relationship: Director

Ownership: Indirect

2022-09-12Purchase

Owner: Cabillot, Raymond E

Title: -

Shares: 5,000

Price/Share: $17.54

Value: $87,700.00

Shares Owned: 8,146

Relationship: Director

Ownership: Indirect

2022-08-17Purchase

Owner: Cabillot, Raymond E

Title: -

Shares: 500

Price/Share: $15.30

Value: $7,650.00

Shares Owned: 3,146

Relationship: Director

Ownership: Indirect

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2024-11-15	Foudray, William R	Director	-	Direct	Purchase	1,250	18.00	$22,500.00	12,500	4
2022-09-16	Mcclung, Peter B.	Director	-	Direct	Purchase	2,500	14.75	$36,875.00	7,500	4
2022-09-16	Cabillot, Raymond E	Director	-	Indirect	Purchase	1,991	15.50	$30,860.50	13,146	4
2022-09-12	Cabillot, Raymond E	Director	-	Indirect	Purchase	5,000	17.54	$87,700.00	8,146	4
2022-08-17	Cabillot, Raymond E	Director	-	Indirect	Purchase	500	15.30	$7,650.00	3,146	4
2022-02-15	Swenson, Nicholas John	Director,Officer,TenPercentOwner	CEO	Indirect	Purchase	1,100	24.59	$27,049.00	972,584	4
2022-02-11	Swenson, Nicholas John	Director,Officer,TenPercentOwner	CEO	Indirect	Purchase	875	25.52	$22,330.00	970,384	4
2022-02-08	Swenson, Nicholas John	Director,Officer,TenPercentOwner	CEO	Indirect	Purchase	875	26.53	$23,213.75	967,759	4
2022-02-03	Swenson, Nicholas John	Director,Officer,TenPercentOwner	CEO	Indirect	Purchase	720	23.01	$16,567.20	965,289	4
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Institutional Ownership

No data available for chart

2026-03-31

7.19%

Inst. Shares: 194,404

Shares Outstanding: 2,703,000

2025-12-31

7.72%

Inst. Shares: 208,551

Shares Outstanding: 2,703,000

2025-09-30

7.60%

Inst. Shares: 205,430

Shares Outstanding: 2,703,000

2025-06-30

7.24%

Inst. Shares: 195,831

Shares Outstanding: 2,703,000

2025-03-31

6.82%

Inst. Shares: 187,476

Shares Outstanding: 2,750,000

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	194,404	2,703,000	7.19%
2025-12-31	208,551	2,703,000	7.72%
2025-09-30	205,430	2,703,000	7.60%
2025-06-30	195,831	2,703,000	7.24%
2025-03-31	187,476	2,750,000	6.82%
2024-12-31	188,113	2,756,000	6.83%
2024-09-30	224,924	2,760,000	8.15%
2024-06-30	209,917	2,761,000	7.60%
2024-03-31	108,509	2,816,000	3.85%
2023-12-31	133,058	2,822,000	4.72%
2023-09-30	137,707	2,820,000	4.88%
2023-06-30	140,407	2,818,000	4.98%
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AIR T INC (AIRT) — SEC Financial Statements & Analysis

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