NASDAQ : AVAV

AeroVironment, Inc. — Financial statements

Industrials · Aerospace & Defense · United States

Last price 126.11 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 6.39B

Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports

Financial statements

AeroVironment, Inc. (AVAV) reported revenue of 2.00B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year May - April; amounts in USD.

TTMFY2026FY2025FY2024FY2023FY2022
Revenue2.00B1.98B820.63M716.72M540.54M445.73M
Cost of Revenue1.47B1.48B497.39M432.79M367.02M304.50M
Gross Profit530.12M500.64M323.24M283.93M173.51M141.24M
Selling, General & Admin423.60M443.37M158.82M112.27M97.32M95.50M
Research & Development118.53M127.68M100.73M97.69M64.25M54.69M
Operating Expenses542.13M571.05M259.55M209.96M161.57M150.19M
Operating Income-12.00M-70.40M63.69M73.97M11.94M-8.95M
Interest Expense-5.50M-2.12M-4.49M-8.80M-5.19M
Interest & Investment Income16.05M
Earnings From Equity Investments17.52M17.44M4.84M-1.67M-2.45M4.59M
Currency Exchange Gain (Loss)-102.00K-102.00K-491.00K-22.00K-119.00K-242.00K
Other Non Operating Income (Expenses)-887.00K-632.00K1.37M-406.00K-95.00K-71.00K
EBT Excluding Unusual Items20.58M-59.19M67.28M67.38M477.00K-9.87M
Merger & Restructuring Charges-4.60M-1.87M-35.16M-1.19M
Impairment of Goodwill-240.71M-240.71M-18.36M-156.02M
Gain (Loss) on Sale of Investments9.02M11.72M177.00K-3.94M-132.00K6.50M
Legal Settlements-10.00M
Pretax Income-211.10M-288.18M44.50M61.56M-190.83M-14.55M
Income Tax Expense-8.29M-23.06M882.00K1.89M-14.66M-10.37M
Earnings From Continuing Operations-202.82M-265.12M43.62M59.67M-176.17M-4.18M
Net Income to Company-202.82M-265.12M43.62M59.67M-176.17M-4.18M
Minority Interest in Earnings-45.00K-3.00K
Net Income-202.82M-265.12M43.62M59.67M-176.21M-4.19M
Net Income to Common-202.82M-265.12M43.62M59.67M-176.21M-4.19M
Shares Outstanding (Basic)49.82M49.09M28.02M27.20M25.04M24.69M
Shares Outstanding (Diluted)49.82M49.09M28.17M27.33M25.04M24.69M
EPS (Basic)-4.07-5.401.562.19-7.04-0.17
EPS (Diluted)-4.07-5.401.552.18-7.04-0.17
Free Cash Flow-25.03M-140.95M-20.86M-7.69M-3.47M-31.91M
Free Cash Flow Per Share-0.50-2.87-0.74-0.28-0.14-1.29
Gross Margin26.47%25.32%39.39%39.62%32.10%31.69%
Operating Margin-0.60%-3.56%7.76%10.32%2.21%-2.01%
Profit Margin-10.13%-13.41%5.32%8.33%-32.60%-0.94%
Free Cash Flow Margin-1.25%-7.13%-2.54%-1.07%-0.64%-7.16%
EBITDA218.81M194.63M104.69M109.72M61.20M51.88M
EBITDA Margin10.93%9.85%12.76%15.31%11.32%11.64%
D&A For EBITDA230.82M265.04M41.00M35.75M49.25M60.83M
EBIT-12.00M-70.40M63.69M73.97M11.94M-8.95M
EBIT Margin-0.60%-3.56%7.76%10.32%2.21%-2.01%
Effective Tax Rate1.98%3.07%
Revenue as Reported2.00B1.98B820.63M716.72M540.54M445.73M
Advertising Expenses1.45M416.00K457.00K494.00K451.00K

Balance sheet

Fiscal year May - April; amounts in USD.

TTMFY2026FY2025FY2024FY2023FY2022
Cash & Equivalents278.39M377.32M40.86M73.30M132.86M77.23M
Short-Term Investments301.84M254.97M24.72M
Cash & Short-Term Investments580.23M632.30M40.86M73.30M132.86M101.95M
Accounts Receivable820.97M886.58M391.98M269.78M193.29M164.36M
Other Receivables5.81M6.21M622.00K442.00K
Receivables826.77M892.78M392.60M269.78M193.29M164.81M
Inventory410.77M312.86M144.09M150.17M138.81M90.63M
Prepaid Expenses63.86M52.48M28.97M22.33M12.04M11.53M
Total Current Assets1.88B1.89B606.52M515.58M477.00M368.91M
Property, Plant & Equipment316.48M267.11M82.58M76.64M67.16M89.06M
Long-Term Investments94.78M98.57M36.46M21.11M23.73M15.43M
Goodwill2.49B2.49B256.78M275.65M180.80M334.35M
Other Intangible Assets886.47M929.83M48.71M72.22M43.58M97.22M
Long-Term Deferred Tax Assets61.46M41.30M27.21M7.29M
Other Long-Term Assets57.44M37.13M28.05M13.35M5.11M1.93M
Total Assets5.73B5.72B1.12B1.02B824.58M914.20M
Accounts Payable174.84M160.51M72.46M48.30M31.36M19.24M
Accrued Expenses70.93M113.03M50.79M47.44M38.65M28.62M
Current Portion of Long-Term Debt10.00M7.50M10.00M
Current Portion of Leases17.82M17.59M10.48M9.84M8.23M6.82M
Current Income Taxes Payable487.00K524.00K356.00K4.16M2.34M759.00K
Current Unearned Revenue87.55M79.61M15.95M11.19M16.64M8.97M
Other Current Liabilities90.11M67.97M22.12M13.94M16.61M26.98M
Total Current Liabilities441.73M439.24M172.16M144.88M121.33M101.39M
Long-Term Debt730.06M728.97M30.00M17.09M125.90M177.84M
Long-Term Leases102.94M88.23M23.81M22.75M21.19M21.91M
Long-Term Deferred Tax Liabilities50.49M50.49M664.00K1.73M2.63M
Other Long-Term Liabilities9.41M9.42M8.09M7.74M3.45M2.22M
Total Liabilities1.33B1.32B234.06M193.12M273.61M305.99M
Common Stock6.00K6.00K4.00K4.00K4.00K2.00K
Additional Paid-In Capital4.40B4.40B618.71M597.65M384.40M267.25M
Retained Earnings4.12M9.18M274.31M230.69M171.02M347.23M
Comprehensive Income & Other-5.75M-5.63M-6.51M-5.59M-4.45M-6.51M
Total Common Equity4.40B4.40B886.51M822.75M550.97M607.97M
Minority Interest241.00K
Shareholders' Equity4.40B4.40B886.51M822.75M550.97M608.21M
Total Liabilities & Equity5.73B5.72B1.12B1.02B824.58M914.20M
Total Debt850.82M834.79M64.29M59.68M162.82M216.57M
Net Cash (Debt)-270.60M-202.49M-23.43M13.62M-29.96M-114.63M
Net Cash Per Share-5.43-4.13-0.830.50-1.20-4.64
Filing Date Shares Outstanding50.63M50.42M45.53M27.93M26.03M24.77M
Total Common Shares Outstanding50.63M50.42M28.11M27.93M26.04M24.77M
Working Capital1.44B1.45B434.36M370.70M355.67M267.52M
Book Value Per Share86.8287.2731.5429.4521.1624.54
Tangible Book Value1.02B976.90M581.01M474.87M326.59M176.40M
Tangible Book Value Per Share20.0619.3720.6717.0012.547.12
Machinery259.22M189.18M187.57M174.29M110.47M
Construction In Progress24.62M8.30M7.26M5.96M4.62M
Leasehold Improvements85.14M31.47M26.92M22.54M20.84M
Order Backlog2.64B1.50B

Cash flow statement

Fiscal year May - April; amounts in USD.

TTMFY2026FY2025FY2024FY2023FY2022
Net Income-202.82M-265.12M43.62M59.67M-176.21M-4.19M
Depreciation & Amortization230.82M265.04M41.00M35.75M49.25M60.83M
Other Amortization4.67M11.41M1.20M1.01M845.00K789.00K
Loss (Gain) From Sale of Assets2.09M2.14M311.00K621.00K1.69M8.28M
Asset Writedown & Restructuring Costs240.71M240.71M18.36M206.76M
Loss (Gain) From Sale of Investments-9.94M-12.60M-177.00K3.94M257.00K242.00K
Loss (Gain) on Equity Investments-17.52M-17.44M-4.84M1.67M2.45M-5.89M
Stock-Based Compensation31.83M38.33M21.46M17.07M10.77M5.39M
Provision & Write-off of Bad Debts6.40M1.99M43.00K4.00K99.00K-6.00K
Other Operating Activities14.80M12.10M-4.01M2.38M-318.00K2.69M
Change in Accounts Receivable-137.17M-287.68M-122.28M-73.64M-28.87M-28.80M
Change in Inventory-199.22M-111.61M2.97M-23.05M-61.85M-29.43M
Change in Accounts Payable70.53M28.08M22.33M12.97M12.54M-7.04M
Change in Income Taxes15.74M-1.36M-590.00K442.00K-442.00K
Change in Other Net Operating Assets7.90M17.62M-20.71M-23.11M-6.46M-12.03M
Operating Cash Flow58.82M-78.40M-1.32M15.29M11.40M-9.62M
Capital Expenditures-83.85M-62.54M-19.55M-22.98M-14.87M-22.29M
Cash Acquisitions-26.93M-871.51M-24.16M-5.11M-46.15M
Divestitures-635.00K
Sale (Purchase) of Intangibles-19.75M-23.67M-3.27M-1.50M
Investment in Securities-327.48M-268.70M-5.67M-3.07M13.86M11.58M
Other Investing Activities-6.25M-6.25M-250.00K224.00K
Investing Cash Flow-464.26M-1.23B-28.49M-51.71M-7.00M-52.29M
Long-Term Debt Issued1.65B40.00M
Long-Term Debt Repaid-965.00M-38.00M-107.00M-55.00M-10.00M
Net Debt Issued (Repaid)689.09M2.00M-107.00M-55.00M-10.00M
Issuance of Common Stock7.36M972.87M3.75M88.44M106.93M2.78M
Repurchase of Common Stock-9.71M-10.93M-4.15M-1.60M-1.06M-1.25M
Other Financing Activities-12.00K-3.85M-4.46M-2.69M-28.00K-8.14M
Financing Cash Flow-2.35M1.65B-2.86M-22.85M50.83M-16.61M
Foreign Exchange Rate Adjustments382.00K360.00K225.00K-284.00K397.00K-1.32M
Net Cash Flow-407.41M336.46M-32.44M-59.56M55.63M-79.83M
Free Cash Flow-25.03M-140.95M-20.86M-7.69M-3.47M-31.91M
Free Cash Flow Margin-1.25%-7.13%-2.54%-1.07%-0.64%-7.16%
Free Cash Flow Per Share-0.50-2.87-0.74-0.28-0.14-1.29
Levered Free Cash Flow-25.92M-251.39M-7.41M-5.94M-8.19M-5.62M
Unlevered Free Cash Flow-30.59M-259.36M-7.28M-4.14M-3.53M-3.16M
Cash Income Tax Paid3.56M3.61M24.63M20.44M2.91M1.88M
Change in Working Capital-242.22M-354.95M-118.28M-106.83M-84.19M-77.75M

Ratios

Fiscal year May - April; amounts in USD.

TTMFY2026FY2025FY2024FY2023FY2022
Market Capitalization6.39B9.83B4.25B4.47B2.53B1.99B
Enterprise Value6.66B10.06B4.26B4.43B2.64B2.12B
Last Close Price126.11195.02151.52159.79100.6980.32
PE Ratio97.3274.87
Forward PE37.6049.6032.6065.4550.1451.51
PS Ratio3.194.975.176.234.674.46
PB Ratio1.452.234.795.434.583.27
P/TBV Ratio6.2910.067.319.417.7311.26
P/OCF Ratio108.56292.12221.55
PEG Ratio1.112.541.971.368.158.15
EV/Sales Ratio3.325.095.196.184.894.75
EV/EBITDA Ratio30.4251.7140.6740.3743.2040.82
EV/EBIT Ratio66.8559.88221.35
Debt / Equity Ratio0.190.190.070.070.300.36
Debt / EBITDA Ratio3.413.700.550.492.263.61
Net Debt / Equity Ratio0.060.050.03-0.020.050.19
Net Debt / EBITDA Ratio1.241.040.22-0.120.492.21
Net Debt / FCF Ratio-10.81-1.44-1.121.77-8.64-3.59
Asset Turnover0.350.580.770.780.620.48
Inventory Turnover4.586.463.383.003.203.75
Quick Ratio3.193.472.522.372.692.63
Current Ratio4.264.303.523.563.933.64
Return on Equity (ROE)-4.60%-10.03%5.10%8.69%-30.39%-0.69%
Return on Assets (ROA)-0.13%-1.29%3.73%5.02%0.86%-0.61%
Return on Invested Capital (ROIC)-0.26%-2.55%7.26%10.32%1.83%-1.30%
Return on Capital Employed (ROCE)-0.20%-1.30%6.70%8.50%1.70%-1.10%
Earnings Yield-3.23%-2.70%1.03%1.34%-6.98%-0.21%
FCF Yield-0.39%-1.43%-0.49%-0.17%-0.14%-1.61%
Buyback Yield / Dilution-52.13%-74.23%-3.09%-9.12%-1.46%-1.32%