NYSE · Financial Statements

AAR Corp. (AIR) Financial Statements

$95.25 NYSE: AIR Market Cap $3.83B

AAR Corp. most recently reported annual revenue of $3.3B, net profit of $188.0M. Revenue grew at an average annual rate of 14.9% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

AAR Corp.: Revenue rose from $1.8B in 2017 to $3.3B in 2026, a change of +87.1% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 4.5% to 8.2%, a shift of +3.7 percentage points; the most recent year shows net profit of $188.0M.

Income Statement — 10 Years (USD millions)

Metric2017201820192020202120222023202420252026
Revenue$1.8B$1.7B$2.1B$2.1B$1.7B$1.8B$2.0B$2.3B$2.8B$3.3B
Operating Expenses$1.7B$1.7B$2.0B$2.0B$1.6B$1.7B$1.9B$2.2B$2.6B$3.0B
Operating Profit$80.0M$86.0M$98.0M$41.0M$85.0M$107.0M$134.0M$129.0M$185.0M$271.0M
Operating Margin4.5%4.9%4.8%2.0%5.2%5.9%6.7%5.6%6.7%8.2%
Other Income$-5.0M$-9.0M$-9.0M$-11.0M$-21.0M$-2.0M$-13.0M$-71.0M$-146.0M$-25.0M
Interest$5.0M$8.0M$10.0M$9.0M$5.0M$2.0M$12.0M$43.0M$75.0M$71.0M
Depreciation$36.0M$41.0M$43.0M$44.0M$36.0M$33.0M$28.0M$41.0M$55.0M$75.0M
Profit Before Tax$74.0M$77.0M$89.0M$30.0M$65.0M$105.0M$121.0M$58.0M$39.0M$246.0M
Tax$32.4M$4.5M$5.5M$18.4M$28.2M$25.3M$25.9M$20.6M$67.9M$23.7M
Net Profit$57.0M$16.0M$8.0M$25.0M$36.0M$79.0M$90.0M$46.0M$13.0M$188.0M
EPS$1.64$0.45$0.21$0.71$1.00$2.16$2.53$1.29$0.35$4.89
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$550.0M$545.0M$567.0M$657.0M$662.0M$686.0M$678.0M$755.0M$740.0M$795.0M$845.0M$928.0M
Operating Expenses$524.0M$507.0M$534.0M$624.0M$618.0M$688.0M$607.0M$682.0M$675.0M$727.0M$781.0M$853.0M
Operating Profit$25.0M$38.0M$33.0M$33.0M$43.0M$-2.0M$71.0M$73.0M$65.0M$68.0M$64.0M$75.0M
Operating Margin4.6%7.0%5.8%5.0%6.6%-0.3%10.5%9.7%8.8%8.6%7.6%8.1%
Interest$6.0M$6.0M$12.0M$19.0M$19.0M$19.0M$19.0M$19.0M$19.0M$19.0M$18.0M$16.0M
Profit Before Tax$-7.0M$32.0M$21.0M$14.0M$25.0M$-22.0M$-11.0M$48.0M$47.0M$48.0M$93.0M$58.0M
Tax$92.0M$24.9M$31.7M$33.1M$27.7M$-36.0M$19.8M$28.6M$26.8M$28.1M$27.0M$12.1M
Net Profit$-1.0M$24.0M$14.0M$9.0M$18.0M$-31.0M$-9.0M$34.0M$34.0M$35.0M$68.0M$51.0M
EPS$-0.02$0.67$0.39$0.25$0.50$-0.51$-0.25$0.96$0.96$0.90$1.71$1.29

Over the 10 years reported for AAR Corp., borrowings increased from $154.0M in 2017 to $995.0M in 2026, cash stood at $84.0M in the latest year, shareholders' equity was $49.0M, current assets covered current liabilities 2.84 times.

Balance Sheet — 10 Years (USD millions)

Metric2017201820192020202120222023202420252026
Total Assets$1.5B$1.5B$1.5B$2.1B$1.5B$1.6B$1.8B$2.8B$2.8B$3.4B
Current Assets$888.0M$943.0M$953.0M$1.4B$937.0M$1.0B$1.1B$1.4B$1.5B$1.7B
Cash$10.0M$31.0M$21.0M$405.0M$52.0M$54.0M$68.0M$86.0M$97.0M$84.0M
Inventory$433.0M$461.0M$524.0M$623.0M$541.0M$551.0M$574.0M$733.0M$809.0M$979.0M
Receivables$235.0M$202.0M$257.0M$221.0M$239.0M$288.0M$328.0M$410.0M$495.0M$535.0M
Fixed Assets$117.0M$133.0M$133.0M$225.0M$196.0M$183.0M$190.0M$268.0M$252.0M$378.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$15.0M$8.0M$12.0M$18.0M$18.0M$25.0M$28.0M$50.0M$47.0M$63.0M
Other Assets$106.0M$119.0M$116.0M$116.0M$119.0M$116.0M$176.0M$555.0M$531.0M$580.0M
Total Liabilities$590.0M$588.0M$611.0M$1.2B$565.0M$539.0M$734.0M$1.6B$1.6B$1.7B
Current Liabilities$335.0M$333.0M$358.0M$383.0M$337.0M$348.0M$352.0M$467.0M$555.0M$613.0M
Borrowings$154.0M$177.0M$142.0M$671.0M$194.0M$156.0M$318.0M$1.1B$1.0B$995.0M
Other Liabilities$436.0M$411.0M$470.0M$506.0M$372.0M$383.0M$416.0M$515.0M$585.0M$657.0M
Equity$45.0M$45.0M$45.0M$45.0M$45.0M$45.0M$45.0M$45.0M$45.0M$49.0M
Reserves$914.0M$936.0M$906.0M$903.0M$974.0M$1.0B$1.1B$1.2B$1.2B$1.7B

For AAR Corp., operating cash flow was positive in 9 of 10 reported years; free cash flow in the latest year was $33.0M; free cash flow was positive in 7 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2017201820192020202120222023202420252026
Operating Cash Flow$22.0M$64.0M$67.0M$-36.0M$105.0M$75.0M$23.0M$44.0M$36.0M$99.0M
Investing Cash Flow$-64.0M$-65.0M$-36.0M$-48.0M$-12.0M$-34.0M$-167.0M$-788.0M$-24.0M$-374.0M
Financing Cash Flow$-13.0M$-3.0M$-3.0M$-4.0M$0$-26.0M$-34.0M$4.0M$-14.0M$283.0M
Net Cash Flow$-21.0M$31.0M$0$384.0M$-364.0M$-1.0M$23.0M$14.0M$13.0M$-1.0M
Free Cash Flow$-12.0M$42.0M$50.0M$-60.0M$94.0M$58.0M$-6.0M$14.0M$1.0M$33.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.06
EV / EBITDA12.24
FCF Yield3.66%
Quick Ratio1.28
Interest Coverage4.05
Return 1Y65.20%
Return 3Y103.25%
Return 5Y270.65%

AAR Corp. (AIR) financials — frequently asked questions

What is AAR Corp.'s annual revenue?

AAR Corp. (AIR) reported annual revenue of $3.3B in its most recent fiscal year.

What is AAR Corp.'s net profit?

AAR Corp. (AIR) reported net profit of $188.0M in its most recent fiscal year.

What is AIR EV/EBITDA?

AAR Corp.'s enterprise value to EBITDA (EV/EBITDA) ratio is 12.24.

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