NASDAQ : IA
Innovative Aerosystems, Inc. — Financial statements
United States
Last price 20.77 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 371.77M
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Financial statements
Innovative Aerosystems, Inc. (IA) reported revenue of 93.15M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 93.15M | 84.30M | 47.20M | 34.81M | 27.74M | 23.04M |
| Cost of Revenue | 41.97M | 43.79M | 21.28M | 13.50M | 11.07M | 10.26M |
| Gross Profit | 51.18M | 40.51M | 25.91M | 21.31M | 16.67M | 12.78M |
| Selling, General & Admin | 18.59M | 16.45M | 11.87M | 10.41M | 6.75M | 6.26M |
| Research & Development | 6.09M | 3.99M | 4.14M | 3.13M | 2.71M | 2.62M |
| Operating Expenses | 24.68M | 20.44M | 16.01M | 13.54M | 9.46M | 8.88M |
| Operating Income | 26.49M | 20.07M | 9.91M | 7.77M | 7.22M | 3.90M |
| Interest Expense | -2.53M | -1.73M | -937.31K | -393.28K | ||
| Interest & Investment Income | 17.85K | 18.94K | 127.33K | 518.19K | 61.05K | 1.23K |
| Other Non Operating Income (Expenses) | 1.65M | 1.59M | 151.32K | 65.23K | 74.91K | |
| EBT Excluding Unusual Items | 25.64M | 19.95M | 9.10M | 8.04M | 7.34M | 3.98M |
| Merger & Restructuring Charges | -1.00M | -244.54K | -408.96K | |||
| Pretax Income | 24.64M | 19.95M | 8.85M | 7.64M | 7.34M | 3.98M |
| Income Tax Expense | 5.54M | 4.32M | 1.85M | 1.61M | 1.82M | -1.09M |
| Net Income | 19.09M | 15.63M | 7.00M | 6.03M | 5.52M | 5.06M |
| Net Income to Common | 19.09M | 15.63M | 7.00M | 6.03M | 5.52M | 5.06M |
| Shares Outstanding (Basic) | 17.75M | 17.57M | 17.46M | 17.41M | 17.26M | 17.23M |
| Shares Outstanding (Diluted) | 18.21M | 17.83M | 17.48M | 17.42M | 17.26M | 17.23M |
| EPS (Basic) | 1.08 | 0.89 | 0.40 | 0.35 | 0.32 | 0.29 |
| EPS (Diluted) | 1.06 | 0.88 | 0.40 | 0.35 | 0.32 | 0.29 |
| Free Cash Flow | 14.29M | 6.79M | 888.97K | 1.80M | 5.93M | 4.25M |
| Free Cash Flow Per Share | 0.79 | 0.38 | 0.05 | 0.10 | 0.34 | 0.25 |
| Gross Margin | 54.94% | 48.06% | 54.90% | 61.22% | 60.11% | 55.46% |
| Operating Margin | 28.44% | 23.81% | 20.99% | 22.32% | 26.01% | 16.93% |
| Profit Margin | 20.50% | 18.54% | 14.83% | 17.32% | 19.91% | 21.98% |
| Free Cash Flow Margin | 15.34% | 8.06% | 1.88% | 5.17% | 21.39% | 18.45% |
| EBITDA | 30.64M | 23.81M | 12.00M | 8.47M | 7.58M | 4.33M |
| EBITDA Margin | 32.89% | 28.24% | 25.43% | 24.32% | 27.34% | 18.80% |
| D&A For EBITDA | 4.15M | 3.73M | 2.10M | 697.94K | 368.50K | 432.18K |
| EBIT | 26.49M | 20.07M | 9.91M | 7.77M | 7.22M | 3.90M |
| EBIT Margin | 28.44% | 23.81% | 20.99% | 22.32% | 26.01% | 16.93% |
| Effective Tax Rate | 22.50% | 21.67% | 20.94% | 21.05% | 24.76% | |
| Revenue as Reported | 93.15M | 84.30M | 47.20M | 34.81M | 27.74M | 23.04M |
Balance sheet
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 10.69M | 2.69M | 538.98K | 3.10M | 17.25M | 8.27M |
| Cash & Short-Term Investments | 10.69M | 2.69M | 538.98K | 3.10M | 17.25M | 8.27M |
| Accounts Receivable | 17.72M | 18.28M | 14.29M | 10.23M | 4.46M | 4.05M |
| Other Receivables | 357.23K | |||||
| Receivables | 18.08M | 18.28M | 14.29M | 10.23M | 4.46M | 4.05M |
| Inventory | 32.08M | 28.36M | 18.69M | 18.21M | 5.35M | 4.55M |
| Prepaid Expenses | 520.72K | 1.39M | 1.16M | 623.19K | 777.31K | 318.14K |
| Other Current Assets | 3.05M | 2.51M | 365.16K | 514.94K | ||
| Total Current Assets | 64.43M | 50.73M | 34.69M | 34.67M | 28.20M | 17.69M |
| Property, Plant & Equipment | 20.68M | 19.37M | 13.37M | 7.91M | 6.32M | 8.19M |
| Goodwill | 15.77M | 6.70M | 5.21M | 3.56M | ||
| Other Intangible Assets | 46.03M | 23.58M | 27.01M | 16.19M | 60.35K | 62.47K |
| Long-Term Deferred Tax Assets | 452.07K | 2.82M | 1.63M | 456.39K | 46.49K | 1.06M |
| Other Long-Term Assets | 137.20K | 157.86K | 471.62K | 176.66K | 75.30K | 82.83K |
| Total Assets | 147.96M | 103.36M | 82.38M | 62.96M | 34.71M | 27.09M |
| Accounts Payable | 9.82M | 3.58M | 2.32M | 1.34M | 708.85K | 623.62K |
| Accrued Expenses | 3.85M | 5.39M | 2.82M | 2.34M | 2.35M | 827.56K |
| Current Portion of Long-Term Debt | 5.64M | 2.44M | 2.00M | |||
| Current Portion of Leases | 12.96K | 13.62K | 14.30K | |||
| Current Income Taxes Payable | 2.05M | 1.19M | ||||
| Current Unearned Revenue | 1.37M | 2.48M | 340.48K | 143.36K | 259.18K | 417.50K |
| Other Current Liabilities | 1.01M | 730.50K | 596.54K | 562.64K | 607.00K | 589.26K |
| Total Current Liabilities | 21.69M | 16.66M | 7.27M | 6.40M | 3.94M | 2.47M |
| Long-Term Debt | 48.67M | 21.70M | 28.03M | 17.50M | ||
| Long-Term Leases | 15.06K | |||||
| Other Long-Term Liabilities | 396.50K | 396.50K | 451.35K | 421.51K | 28.68K | |
| Total Liabilities | 70.76M | 38.76M | 35.74M | 24.32M | 3.96M | 2.50M |
| Common Stock | 17.90K | 17.63K | 17.50K | 19.54K | 19.41K | 19.34K |
| Additional Paid-In Capital | 40.36M | 39.75M | 37.42M | 54.32M | 52.46M | 51.82M |
| Retained Earnings | 40.28M | 28.29M | 12.67M | 5.67M | -359.04K | -5.88M |
| Treasury Stock | -3.46M | -3.46M | -3.46M | -21.37M | -21.37M | -21.37M |
| Shareholders' Equity | 77.20M | 64.60M | 46.64M | 38.64M | 30.75M | 24.59M |
| Total Liabilities & Equity | 147.96M | 103.36M | 82.38M | 62.96M | 34.71M | 27.09M |
| Total Debt | 54.31M | 24.14M | 28.03M | 19.51M | 28.68K | 14.30K |
| Net Cash (Debt) | -43.62M | -21.45M | -27.49M | -16.42M | 17.22M | 8.25M |
| Net Cash Per Share | -2.40 | -1.20 | -1.57 | -0.94 | 1.00 | 0.48 |
| Filing Date Shares Outstanding | 17.90M | 17.75M | 17.54M | 17.45M | 17.32M | 17.25M |
| Total Common Shares Outstanding | 17.90M | 17.63M | 17.50M | 17.45M | 17.32M | 17.25M |
| Working Capital | 42.74M | 34.07M | 27.42M | 28.27M | 24.26M | 15.22M |
| Book Value Per Share | 4.31 | 3.66 | 2.66 | 2.21 | 1.78 | 1.43 |
| Tangible Book Value | 15.39M | 34.32M | 14.41M | 18.89M | 30.69M | 24.52M |
| Tangible Book Value Per Share | 0.86 | 1.95 | 0.82 | 1.08 | 1.77 | 1.42 |
| Land | 1.02M | 1.02M | 1.02M | 1.02M | 1.02M | 1.02M |
| Buildings | 12.53M | 11.60M | 6.20M | 5.93M | ||
| Machinery | 22.28M | 20.11M | 18.56M | 12.87M | 11.32M | 14.43M |
| Order Backlog | 77.43M | 89.23M |
Cash flow statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 19.09M | 15.63M | 7.00M | 6.03M | 5.52M | 5.06M |
| Depreciation & Amortization | 4.15M | 3.73M | 2.10M | 697.94K | 368.50K | 432.18K |
| Loss (Gain) From Sale of Assets | -160.58K | -1.19M | ||||
| Asset Writedown & Restructuring Costs | 44.40K | |||||
| Stock-Based Compensation | 2.77M | 2.34M | 1.00M | 1.45M | 339.94K | 341.33K |
| Other Operating Activities | 2.27M | -1.21M | -1.14M | 53.81K | 1.02M | -1.29M |
| Change in Accounts Receivable | -5.05M | -3.98M | -4.06M | -5.77M | -413.86K | 322.77K |
| Change in Inventory | -7.42M | -9.67M | -2.34M | -834.92K | -708.86K | -153.61K |
| Change in Accounts Payable | 4.71M | 1.26M | 978.20K | 628.43K | 85.22K | -167.27K |
| Change in Unearned Revenue | -1.16M | 2.14M | 197.12K | -115.82K | -158.32K | 104.14K |
| Change in Income Taxes | -2.20M | 850.94K | 1.08M | -257.06K | 269.01K | 104.64K |
| Change in Other Net Operating Assets | 1.35M | 2.22M | 1.14M | 171.86K | 963.43K | -162.62K |
| Operating Cash Flow | 18.51M | 13.30M | 5.80M | 2.10M | 6.09M | 4.59M |
| Capital Expenditures | -4.22M | -6.51M | -4.91M | -298.37K | -161.23K | -340.68K |
| Sale of Property, Plant & Equipment | 2.23M | 2.75M | ||||
| Cash Acquisitions | -33.00M | -14.20M | -35.86M | |||
| Investing Cash Flow | -37.22M | -6.51M | -16.88M | -36.16M | 2.59M | -340.68K |
| Long-Term Debt Issued | 25.00M | 52.35M | 20.00M | |||
| Total Debt Issued | 57.00M | 25.00M | 52.35M | 20.00M | ||
| Long-Term Debt Repaid | -28.65M | -43.83M | -500.00K | |||
| Total Debt Repaid | -25.76M | -28.65M | -43.83M | -500.00K | ||
| Net Debt Issued (Repaid) | 31.24M | -3.65M | 8.53M | 19.50M | ||
| Issuance of Common Stock | 408.85K | 301.15K | 17.01K | |||
| Repurchase of Common Stock | -1.45M | |||||
| Common Dividends Paid | -19.79M | |||||
| Other Financing Activities | -984.59K | -984.59K | ||||
| Financing Cash Flow | 28.80M | -4.64M | 8.53M | 19.91M | 301.15K | -19.77M |
| Net Cash Flow | 10.09M | 2.15M | -2.56M | -14.15M | 8.98M | -15.52M |
| Free Cash Flow | 14.29M | 6.79M | 888.97K | 1.80M | 5.93M | 4.25M |
| Free Cash Flow Margin | 15.34% | 8.06% | 1.88% | 5.17% | 21.39% | 18.45% |
| Free Cash Flow Per Share | 0.79 | 0.38 | 0.05 | 0.10 | 0.34 | 0.25 |
| Levered Free Cash Flow | 7.93M | 4.09M | 4.11M | -13.71M | 5.00M | 2.82M |
| Unlevered Free Cash Flow | 9.50M | 5.17M | 4.69M | -13.46M | 5.00M | 2.82M |
| Cash Interest Paid | 1.86M | 1.54M | 847.09K | 260.89K | ||
| Cash Income Tax Paid | 5.68M | 4.73M | 1.91M | 1.86M | 531.48K | 1.09K |
| Change in Working Capital | -9.77M | -7.18M | -3.01M | -6.18M | 36.63K | 48.05K |
Ratios
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 379.46M | 220.18M | 114.10M | 132.60M | 149.09M | 121.07M |
| Enterprise Value | 423.08M | 242.83M | 123.44M | 150.04M | 134.58M | 113.59M |
| Last Close Price | 20.77 | 12.49 | 6.52 | 7.60 | 8.63 | 7.02 |
| PE Ratio | 20.09 | 14.09 | 16.30 | 22.00 | 26.99 | 23.90 |
| Forward PE | 20.45 | 21.17 | 12.54 | 13.82 | 14.91 | 14.91 |
| PS Ratio | 4.18 | 2.61 | 2.42 | 3.81 | 5.38 | 5.25 |
| PB Ratio | 4.82 | 3.41 | 2.45 | 3.43 | 4.85 | 4.92 |
| P/TBV Ratio | 25.28 | 6.42 | 7.92 | 7.02 | 4.86 | 4.94 |
| P/FCF Ratio | 27.22 | 32.42 | 128.35 | 73.75 | 25.13 | 28.48 |
| P/OCF Ratio | 21.02 | 16.55 | 19.68 | 63.26 | 24.46 | 26.36 |
| PEG Ratio | 1.24 | 0.49 | 3.62 | 3.62 | 3.62 | 3.62 |
| EV/Sales Ratio | 4.64 | 2.88 | 2.62 | 4.31 | 4.85 | 4.93 |
| EV/EBITDA Ratio | 14.12 | 10.20 | 10.28 | 17.72 | 17.75 | 26.21 |
| EV/EBIT Ratio | 16.33 | 12.10 | 12.46 | 19.32 | 18.65 | 29.12 |
| EV/FCF Ratio | 30.28 | 35.76 | 138.86 | 83.46 | 22.68 | 26.71 |
| Debt / Equity Ratio | 0.70 | 0.37 | 0.60 | 0.51 | 0.00 | 0.00 |
| Debt / EBITDA Ratio | 1.77 | 1.01 | 2.33 | 2.29 | 0.00 | 0.00 |
| Debt / FCF Ratio | 3.80 | 3.55 | 31.53 | 10.85 | 0.01 | 0.00 |
| Net Debt / Equity Ratio | 0.56 | 0.33 | 0.59 | 0.42 | -0.56 | -0.34 |
| Net Debt / EBITDA Ratio | 1.42 | 0.90 | 2.29 | 1.94 | -2.27 | -1.90 |
| Net Debt / FCF Ratio | 3.05 | 3.16 | 30.92 | 9.13 | -2.90 | -1.94 |
| Asset Turnover | 0.78 | 0.91 | 0.65 | 0.71 | 0.90 | 0.67 |
| Inventory Turnover | 1.48 | 1.86 | 1.15 | 1.15 | 2.24 | 2.32 |
| Quick Ratio | 1.33 | 1.26 | 2.04 | 2.08 | 5.51 | 4.98 |
| Current Ratio | 2.97 | 3.04 | 4.77 | 5.42 | 7.16 | 7.16 |
| Return on Equity (ROE) | 28.50% | 28.10% | 16.41% | 17.37% | 19.96% | 19.35% |
| Return on Assets (ROA) | 13.81% | 13.51% | 8.52% | 9.94% | 14.60% | 7.11% |
| Return on Invested Capital (ROIC) | 17.03% | 19.63% | 12.13% | 17.88% | 36.36% | 24.73% |
| Return on Capital Employed (ROCE) | 21.00% | 23.20% | 13.20% | 13.70% | 23.50% | 15.80% |
| Earnings Yield | 4.98% | 7.10% | 6.13% | 4.55% | 3.71% | 4.18% |
| FCF Yield | 3.67% | 3.08% | 0.78% | 1.36% | 3.98% | 3.51% |
| Payout Ratio | 390.69% | |||||
| Buyback Yield / Dilution | -3.12% | -1.99% | -0.35% | -0.94% | -0.18% | -0.66% |