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AAR Corp.

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Key Metrics

Previous Close: $139.17
52-Week Range: $71.73 – $154.00
Market Cap: $5.33B
P/E (TTM): 28.66
EPS (TTM): 4.62
Dividend Yield: —

Advanced Metrics

Price/Book: 3.06
PEG Ratio: 2.40
Return on Equity: 12.88%
Return on Assets: 5.47%
Gross Margin: 18.80%
Operating Margin: 8.38%
Profit Margin: 5.67%
Current Ratio: 2.84
Debt/Equity: 0.59
Total Debt: $1.01B
Free Cash Flow: $-50.36M
Revenue Growth: 23.00%
Earnings Growth: 32.30%
Enterprise Value: $6.14B

AIR Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Revenue	$1.99B	$2.32B	$2.78B	$3.31B
Cost of Revenue	$1.62B	$1.88B	$2.25B	$2.69B
Gross Profit	$370.10M	$442.30M	$527.70M	$622.00M
Selling, General & Admin	$230.40M	$312.20M	$347.70M	$349.30M
Operating Expenses	$233.00M	$312.90M	$347.90M	$351.40M
Operating Income	$137.10M	$129.40M	$179.80M	$270.60M
EBITDA	$160.60M	$141.70M	$169.50M	$390.10M
Pretax Income	$121.20M	$58.30M	$38.90M	$245.90M
Income Tax	$31.40M	$12.00M	$26.40M	$58.20M
Net Income	$90.20M	$46.30M	$12.50M	$187.70M
Diluted EPS	2.53	1.29	0.35	4.86
Diluted Shares	35.10M	35.40M	35.80M	38.40M

AIR Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$68.40M	$85.80M	$96.50M	$84.00M
Receivables	$328.20M	$410.40M	$495.10M	$535.20M
Inventory	$574.10M	$733.10M	$809.20M	$979.00M
Current Assets	$1.10B	$1.39B	$1.51B	$1.74B
Total Assets	$1.83B	$2.77B	$2.84B	$3.36B
Current Liabilities	$351.50M	$466.90M	$554.70M	$613.20M
Long-Term Debt	$269.70M	$985.40M	$968.00M	$893.90M
Total Debt	$317.90M	$1.07B	$1.05B	$995.00M
Total Liabilities	$734.00M	$1.58B	$1.63B	$1.65B
Retained Earnings	$910.60M	$956.90M	$969.40M	$1.16B
Shareholders' Equity	$1.10B	$1.19B	$1.21B	$1.70B
Working Capital	$746.40M	$922.70M	$955.90M	$1.13B
Net Debt	$201.30M	$899.60M	$871.50M	$809.90M

AIR Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	$23.30M	$43.60M	$36.10M	$98.70M
Capital Expenditure	-$29.50M	-$31.20M	-$38.70M	-$65.40M
Free Cash Flow	-$6.20M	$12.40M	-$2.60M	$33.30M
Depreciation & Amortisation	$27.20M	$40.20M	$55.20M	$72.10M
Stock-Based Compensation	$13.50M	$15.30M	$19.90M	$17.80M
Investing Cash Flow	-$138.00M	-$758.50M	$10.70M	-$308.70M
Financing Cash Flow	$137.70M	$729.20M	-$33.70M	$208.60M
Share Repurchases	-$50.10M	-$5.10M	-$10.10M	$0.00
Net Change in Cash	$23.00M	$14.30M	$13.10M	-$1.40M

AIR Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$754.50M	$739.60M	$795.30M	$845.10M	$928.00M
Cost of Revenue	$604.30M	$605.90M	$638.40M	$690.40M	$751.30M
Gross Profit	$150.20M	$133.70M	$156.90M	$154.70M	$176.70M
Selling, General & Admin	$77.40M	$71.20M	$88.70M	$89.80M	$99.60M
Operating Expenses	$77.90M	$71.80M	$89.80M	$90.30M	$99.50M
Operating Income	$72.30M	$61.90M	$67.10M	$64.40M	$77.20M
EBITDA	$80.10M	$79.60M	$84.30M	$130.80M	$95.40M
Pretax Income	$47.60M	$47.00M	$48.10M	$93.10M	$57.70M
Income Tax	$13.60M	$12.60M	$13.50M	$25.10M	$7.00M
Net Income	$34.00M	$34.40M	$34.60M	$68.00M	$50.70M
Diluted EPS	0.95	0.95	0.90	1.71	—
Diluted Shares	35.60M	35.90M	38.10M	39.50M	—

AIR Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$96.50M	$80.00M	$75.60M	$78.50M	$84.00M
Receivables	$495.10M	$510.20M	$554.50M	$568.50M	$535.20M
Inventory	$809.20M	$861.50M	$910.80M	$958.20M	$979.00M
Current Assets	$1.51B	$1.57B	$1.69B	$1.76B	$1.74B
Total Assets	$2.84B	$2.93B	$3.24B	$3.33B	$3.36B
Current Liabilities	$554.70M	$538.50M	$594.20M	$653.00M	$613.20M
Long-Term Debt	$968.00M	$1.02B	$952.70M	$888.30M	$893.90M
Total Debt	$1.05B	$1.10B	$1.04B	$979.70M	$995.00M
Total Liabilities	$1.63B	$1.68B	$1.68B	$1.69B	$1.65B
Retained Earnings	$969.40M	$1.00B	$1.04B	$1.11B	$1.16B
Shareholders' Equity	$1.21B	$1.25B	$1.56B	$1.64B	$1.70B
Working Capital	$955.90M	$1.03B	$1.10B	$1.11B	$1.13B
Net Debt	$871.50M	$942.10M	$877.10M	$809.80M	$809.90M

AIR Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$51.40M	-$44.90M	$13.60M	$74.70M	$55.30M
Capital Expenditure	-$10.00M	-$8.70M	-$7.40M	-$33.00M	-$16.30M
Free Cash Flow	$41.40M	-$53.60M	$6.20M	$41.70M	$39.00M
Depreciation & Amortisation	$13.70M	$13.80M	$17.10M	$20.20M	$21.00M
Stock-Based Compensation	$4.30M	$5.30M	$4.30M	$3.70M	$4.50M
Investing Cash Flow	$27.60M	-$23.80M	-$213.30M	-$14.70M	-$56.90M
Financing Cash Flow	-$70.70M	$51.10M	$204.30M	-$56.10M	$9.30M
Share Repurchases	-$10.10M	—	—	—	—
Net Change in Cash	$8.30M	-$17.60M	$4.60M	$3.90M	$7.70M

Market Snapshot

About

AAR Corp. is a leading provider of aviation services and products to commercial aviation, government, and defense markets worldwide. The company operates through Aviation Services (maintenance, repair, and overhaul of aircraft components, engineering services, and supply chain solutions) and Expeditionary Services (mobility systems for government and defense customers). AAR provides comprehensive aftermarket support including component repair, aircraft maintenance, parts supply, inventory management, and integrated logistics solutions. The company serves commercial airlines, cargo carriers, original equipment manufacturers, and government agencies. AAR's capabilities span airframe, engine, avionics, and landing gear support across diverse aircraft platforms. The company operates a global network of facilities and distribution centers supporting customer operations worldwide. Founded in 1955 and headquartered in Wood Dale, Illinois, AAR has built expertise in aviation sustainment over decades. The company benefits from aging aircraft fleets requiring increasing maintenance, airline outsourcing of non-core activities, defense readiness requirements, and growing global air traffic. AAR emphasizes operational excellence, technology integration, and strategic partnerships to deliver value to customers and shareholders.