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Stock research / United States / AIR · Aircraft & Parts · NYSE

AAR Corp. (AIR)

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AAR Corp. (AIR) reported revenue of $918 million for Q1 FY2027, the quarter ended 31 August 2026, up 24.1% on the same quarter a year earlier. Net income was $40 million, up 16.6% on the year, and diluted earnings per share $1.00. The figures are the company's own, from the 10-Q it filed with the SEC on 29 September 2026.

Revenue$918 millionup 24.1%
Net income$40 millionup 16.6%
Diluted EPS$1.00
QuarterQ1 FY2027ended 31 August 2026

AAR (AIR) in brief

AAR (AIR) reported revenue of $3.3 billion for fiscal 2026, the year ended 31 May 2026, up 19.0% on the year before.
Read moreNet income was $188 million and diluted earnings per share $4.86. Revenue was $2.8 billion in fiscal 2025, $2.3 billion in fiscal 2024, $2.0 billion in fiscal 2023 and $1.8 billion in fiscal 2022. Net income in the same years was $12 million, $46 million, $90 million and $79 million. Over the twelve months to 31 August 2026, AAR reported revenue of $3.5 billion and net income of $193 million. Revenue grew 14.9% a year, compounded, over the five years to fiscal 2026. AAR declared $0.30 a share in dividends over the last four quarters and had 40 million shares outstanding at the latest filed count. At 31 August 2026 it carried $880 million of debt and $104 million of cash. At the close of 9 October 2026 the market cap of AAR was $4.0 billion, 20.6 times its earnings over the last twelve months.

Ratios

From the filings

ROE11.1%
ROCEn/a
Operating marginn/a
Net margin5.5%
FCF margin4.6%
Interest covern/a
Debt to equity0.50
Cash conversion1.03
Share count, 1 year11.3%
Sales CAGR, 3 years18.4%
Profit CAGR, 3 years27.7%
EPS, TTM$4.88

At the close of 9 October 2026

Price$100.42
Market cap$4.0 billion
Stock P/E20.58
Price to book2.32
EV / EBITDAn/a
Dividend yield0.3%
Market cap / sales1.16
52-week high$153.71
52-week low$77.35
Price, 1 year23.6%
Price CAGR, 3 years18.2%
Price CAGR, 5 years24.4%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as AAR Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
AIRgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on AIR

Filings27 in twelve months: 16 current reports (8-K), about 9 regulation FD disclosure; 5 officer or director change; 4 results of operations; 3 other events; 1 material agreement
Planned insider sales15 Form 144 notices in twelve months, $37.1 million; latest 1 April 2026
Options tapeput/call 0.57 by open interest at the 9 October 2026 close; the straddle prices a 5.2% move to 16 October 2026
13F holders7 of the followed funds hold it; largest Capital Research Global Investors; 6 Schedule 13D or 13G filings in twelve months
Insider trading22 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest2.0 million shares short, 2.49 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025 †Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026 †Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027
Revenue545567656662686678754740795845928918
Cost of revenue442457529544558546604606638690751742
Gross profit103110127117129132150134157155177176
Gross margin19%19%19%18%19%19%20%18%20%18%19%19%
SG&A65.777.094.875.913361.377.471.888.789.899.6107
Interest expense6.211.919.318.819.318.518.818.819.117.516.716.6
Pre-tax incomen/an/an/a24.9-22.5-11.147.647.048.193.157.755.4
Tax raten/an/an/a28%n/an/a29%27%28%27%12%28%
Net income23.814.09.118.0-30.6-8.934.034.434.668.050.740.1
Net margin4%2%1%3%-4%-1%5%5%4%8%5%4%
Diluted EPS$0.67$0.39$0.26$0.50-$0.87-$0.25$0.95$0.95$0.90$1.71$1.27$1.00
Operating cash flow17.420.424.5-18.622.0-18.751.4-44.913.674.755.355.8
Capital expenditure7.35.87.57.98.38.510.08.77.48.512.011.8
Free cash flow10.114.617.0-26.513.7-27.241.4-53.66.266.243.344.0
Shares outstanding36m35m36m36m36m36m36m36m40m40m40m40m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025FY2026TTM
Revenue1,6211,5251,5911,7482,0522,0721,6521,8201,9902,3192,7803,3083,486
Cost of revenue1,4911,2921,3271,4541,7221,8031,3761,5071,6201,8772,2532,6862,822
Gross profit131233263295330269276313370442528622665
Gross margin8.1%15.3%16.6%16.9%16.1%13.0%16.7%17.2%18.6%19.1%19.0%18.8%19.1%
Selling, general and administrative172158179208215221182202230312348349385
Operating income-41.675.582.386.098.343.285.0110137n/an/an/an/a
Operating margin-2.6%4.9%5.2%4.9%4.8%2.1%5.1%6.0%6.9%n/an/an/an/a
Interest expense27.26.45.38.09.59.35.02.412.243.275.472.169.9
Pre-tax incomen/an/an/an/an/an/an/an/a12158.338.9246254
Income tax-39.323.425.13.54.95.618.226.631.412.026.458.260.9
Effective tax raten/an/an/an/an/an/an/an/a25.9%20.6%67.9%23.7%23.9%
Net income10.247.756.515.67.54.435.878.790.246.312.5188193
Net margin0.6%3.1%3.6%0.9%0.4%0.2%2.2%4.3%4.5%2.0%0.4%5.7%5.5%
Diluted EPS$0.24$1.37$1.64$0.41$0.21$0.13$1.00$2.17$2.53$1.29$0.35$4.86$4.88
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service

FY2024FY2025FY2026Share
latest year
Products1,3871,7122,13864.6%
Services9321,0681,17035.4%
ProductsServices
2,319FY20242,780FY20253,308FY2026

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025FY2026TTM
Operating cash flow-43.032.121.864.367.4-36.110575.223.343.636.198.7199
Capital expenditure42.140.125.222.017.423.611.317.329.529.734.736.639.7
Free cash flow-85.1-8.0-3.442.350.0-59.793.957.9-6.213.91.462.1160
Free cash flow margin-5.2%-0.5%-0.2%2.4%2.4%-2.9%5.7%3.2%-0.3%0.6%0.1%1.9%4.6%
Cash from investing689-16.9-30.1-42.9-19.0-24.8-0.5-16.5-138-75810.7-309-310
Cash from financing-678-38.4-12.110.0-48.7444-470-59.8138729-33.7209133
Depreciation and amortisation58.033.235.740.542.843.736.333.127.240.255.272.177.1
Share-based compensation7.46.511.015.313.57.39.28.213.515.319.917.820.3
Buybacks15218.819.813.110.34.1n/a42.450.15.110.1n/an/a
Dividends paid11.910.410.210.310.510.70.1n/an/an/an/an/an/a
Dividend per sharen/an/a$0.30$0.30$0.30n/an/an/an/an/an/an/an/a
Diluted shares, weighted39m35m34m35m35m35m35m36m35m35m36m38m40m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/a40m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025FY2026TTM
Funded by
Shareholders' equity8458669149369069039741,0341,0991,1901,2121,7041,742
Debt154150156179143602135100272985968894880
Operating lease liabilitiesn/an/an/an/an/a70.959.957.448.280.379.610198.8
Other liabilities455440434410468504370382414514585657706
Total liabilities and equity1,4541,4561,5041,5251,5172,0791,5401,5741,8332,7702,8453,3563,427
Owned
Fixed assets215238117133133136120110126172158167172
Goodwill124108106119116116119116176555531580565
Intangible assets36.735.830.627.822.26.04.53.363.7235220282288
Cash and equivalents54.731.210.331.121.340551.853.568.485.896.584.0104
Receivables229248234202198172167214241287355387436
Inventory4564524334615246235415505747338099791,009
Other assets339343572551503622537527584702675877852
Total assets1,4541,4561,5041,5251,5172,0791,5401,5741,8332,7702,8453,3563,427
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded8.0%14.9%18.4%22.0%
Profit growth, compounded14.7%39.3%27.7%569.2%
Return on equity, average4.5%6.4%5.3%11.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was AAR's revenue in fiscal 2026?

AAR (AIR) reported revenue of $3.3 billion for fiscal 2026, the year ended 31 May 2026, up 19.0% on the year before.

How much did AAR earn in fiscal 2026?

Net income was $188 million for fiscal 2026, and diluted earnings per share $4.86.

What is AAR's P/E ratio?

At the close of 9 October 2026, AAR traded at 20.6 times its earnings over the twelve months to 31 August 2026.

What is AAR's market cap?

The market cap of AAR was $4.0 billion at the close of 9 October 2026.

Does AAR pay a dividend?

Yes. AAR declared $0.30 a share in dividends over the four quarters to 31 August 2026.

Peers: Aircraft

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
RTX Corp. RTX$250.7 billion32.7411.7%11.2%11.8%0.481.4%
Boeing Co. BA$150.5 billion82.4539.9%4.9%24.8%7.474.3%
Honeywell International Inc. HON$65.8 billion8.0644.3%n/a5.0%1.704.5%
TransDigm Group Inc. TDG$61.2 billion33.61n/a46.0%16.7%n/a0.0%
Textron Inc. TXT$12.8 billion13.9911.6%n/a8.8%0.470.1%
AeroVironment Inc. AVAV$7.0 billionn/a-4.6%-12.6%84.4%0.17n/a
StandardAero, Inc. SARO$6.7 billion20.7911.8%9.5%12.6%0.84n/a
Karman Holdings Inc. KRMN$4.3 billion112.438.8%16.8%50.2%1.78n/a
AAR Corp. AIR$4.0 billion20.5811.1%n/a22.0%0.500.3%
1 company shares its SEC industry code (Aircraft & Parts); the rest are the names nearest in size in its wider industry, Aircraft, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q31 August 202629 September 2026EDGAR
10-K31 May 202622 July 2026EDGAR
10-Q28 February 202625 March 2026EDGAR
10-Q30 November 20257 January 2026EDGAR
10-Q31 August 202523 September 2025EDGAR
10-K31 May 202522 July 2025EDGAR
10-Q28 February 202528 March 2025EDGAR
10-Q30 November 20248 January 2025EDGAR
10-Q31 August 202424 September 2024EDGAR
10-K31 May 202419 July 2024EDGAR

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