NYSEAMERICAN : AIRI
Air Industries Group — Financial statements
Industrials · Aerospace & Defense · United States
Last price 2.585 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 12.54M
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Financial statements
Air Industries Group (AIRI) reported revenue of 46.72M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 46.72M | 47.92M | 55.11M | 51.52M | 53.24M | 58.94M |
| Cost of Revenue | 37.51M | 39.73M | 46.18M | 44.09M | 45.79M | 48.69M |
| Gross Profit | 9.21M | 8.19M | 8.93M | 7.43M | 7.45M | 10.25M |
| Selling, General & Admin | 9.74M | 8.53M | 8.47M | 7.72M | 7.65M | 7.77M |
| Operating Expenses | 9.74M | 8.53M | 8.47M | 7.72M | 7.65M | 7.77M |
| Operating Income | -531.00K | -338.00K | 459.00K | -295.00K | -194.00K | 2.49M |
| Interest Expense | -1.95M | -1.84M | -1.89M | -1.92M | -1.34M | -1.26M |
| Other Non Operating Income (Expenses) | 602.00K | 743.00K | 68.00K | 84.00K | 139.00K | 405.00K |
| EBT Excluding Unusual Items | -1.87M | -1.44M | -1.37M | -2.13M | -1.39M | 1.63M |
| Other Unusual Items | 317.00K | |||||
| Pretax Income | -1.87M | -1.44M | -1.37M | -2.13M | -1.08M | 1.63M |
| Income Tax Expense | -113.00K | -131.00K | ||||
| Earnings From Continuing Operations | -1.76M | -1.30M | -1.37M | -2.13M | -1.08M | 1.63M |
| Net Income | -1.76M | -1.30M | -1.37M | -2.13M | -1.08M | 1.63M |
| Net Income to Common | -1.76M | -1.30M | -1.37M | -2.13M | -1.08M | 1.63M |
| Shares Outstanding (Basic) | 4.77M | 4.22M | 3.34M | 3.28M | 3.23M | 3.20M |
| Shares Outstanding (Diluted) | 4.77M | 4.22M | 3.34M | 3.28M | 3.23M | 3.20M |
| EPS (Basic) | -0.37 | -0.31 | -0.41 | -0.65 | -0.33 | 0.51 |
| EPS (Diluted) | -0.37 | -0.31 | -0.41 | -0.65 | -0.33 | 0.51 |
| Free Cash Flow | -4.69M | -4.67M | -1.98M | 2.74M | -1.91M | 2.70M |
| Free Cash Flow Per Share | -0.98 | -1.11 | -0.59 | 0.84 | -0.59 | 0.84 |
| Gross Margin | 19.71% | 17.08% | 16.21% | 14.42% | 14.00% | 17.40% |
| Operating Margin | -1.14% | -0.70% | 0.83% | -0.57% | -0.36% | 4.22% |
| Profit Margin | -3.77% | -2.72% | -2.48% | -4.14% | -2.02% | 2.76% |
| Free Cash Flow Margin | -10.04% | -9.75% | -3.59% | 5.33% | -3.59% | 4.58% |
| EBITDA | 2.40M | 2.36M | 2.71M | 2.06M | 2.33M | 5.29M |
| EBITDA Margin | 5.15% | 4.92% | 4.91% | 3.99% | 4.37% | 8.97% |
| D&A For EBITDA | 2.94M | 2.70M | 2.25M | 2.35M | 2.52M | 2.80M |
| EBIT | -531.00K | -338.00K | 459.00K | -295.00K | -194.00K | 2.49M |
| EBIT Margin | -1.14% | -0.70% | 0.83% | -0.57% | -0.36% | 4.22% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 694.00K | 680.00K | 753.00K | 346.00K | 281.00K | 627.00K |
| Cash & Short-Term Investments | 694.00K | 680.00K | 753.00K | 346.00K | 281.00K | 627.00K |
| Accounts Receivable | 7.16M | 7.07M | 8.90M | 7.89M | 9.48M | 10.47M |
| Other Receivables | 296.00K | 296.00K | 296.00K | |||
| Receivables | 7.16M | 7.07M | 9.20M | 8.19M | 9.78M | 10.47M |
| Inventory | 36.70M | 34.26M | 28.81M | 29.85M | 31.82M | 29.53M |
| Prepaid Expenses | 549.00K | 842.00K | 427.00K | 334.00K | 335.00K | 248.00K |
| Restricted Cash | 3.93M | 3.93M | ||||
| Total Current Assets | 49.04M | 46.78M | 39.19M | 38.72M | 42.22M | 40.88M |
| Property, Plant & Equipment | 9.55M | 10.93M | 11.11M | 10.88M | 11.07M | 11.42M |
| Goodwill | 163.00K | |||||
| Long-Term Deferred Charges | 630.00K | 614.00K | 712.00K | 1.11M | 532.00K | 960.00K |
| Total Assets | 59.22M | 58.33M | 51.01M | 50.72M | 53.81M | 53.42M |
| Accounts Payable | 6.89M | 7.10M | 5.58M | 5.46M | 6.44M | 5.46M |
| Accrued Expenses | 803.00K | 1.44M | 630.00K | 1.10M | 1.26M | |
| Current Portion of Long-Term Debt | 28.91M | 28.38M | 18.36M | 16.04M | 14.48M | 14.11M |
| Current Portion of Leases | 412.00K | 917.00K | 881.00K | 880.00K | 778.00K | 686.00K |
| Current Unearned Revenue | 3.47M | 419.00K | 1.15M | 3.60M | 819.00K | 1.51M |
| Other Current Liabilities | 373.00K | |||||
| Total Current Liabilities | 39.69M | 37.62M | 27.41M | 26.60M | 23.62M | 23.40M |
| Long-Term Debt | 928.00K | 943.00K | 6.91M | 6.39M | 10.46M | 8.99M |
| Long-Term Leases | 493.00K | 569.00K | 1.71M | 2.47M | 2.79M | 3.50M |
| Long-Term Unearned Revenue | 29.00K | 67.00K | 105.00K | 143.00K | ||
| Total Liabilities | 41.11M | 39.13M | 36.06M | 35.52M | 36.98M | 36.04M |
| Common Stock | 5.00K | 5.00K | 3.00K | 3.00K | 3.00K | 3.00K |
| Additional Paid-In Capital | 90.38M | 89.61M | 84.05M | 82.93M | 82.45M | 81.92M |
| Retained Earnings | -72.28M | -70.41M | -69.11M | -67.74M | -65.61M | -64.53M |
| Total Common Equity | 18.10M | 19.20M | 14.95M | 15.19M | 16.84M | 17.39M |
| Shareholders' Equity | 18.10M | 19.20M | 14.95M | 15.19M | 16.84M | 17.39M |
| Total Liabilities & Equity | 59.22M | 58.33M | 51.01M | 50.72M | 53.81M | 53.42M |
| Total Debt | 30.75M | 30.81M | 27.87M | 25.77M | 28.51M | 27.29M |
| Net Cash (Debt) | -30.05M | -30.13M | -27.11M | -25.43M | -28.23M | -26.66M |
| Net Cash Per Share | -6.30 | -7.14 | -8.13 | -7.76 | -8.75 | -8.32 |
| Filing Date Shares Outstanding | 4.85M | 4.78M | 3.69M | 3.32M | 3.26M | 3.22M |
| Total Common Shares Outstanding | 4.85M | 4.78M | 3.47M | 3.30M | 3.25M | 3.21M |
| Working Capital | 9.34M | 9.17M | 11.78M | 12.12M | 18.60M | 17.48M |
| Book Value Per Share | 3.73 | 4.02 | 4.30 | 4.60 | 5.18 | 5.41 |
| Tangible Book Value | 18.10M | 19.20M | 14.95M | 15.19M | 16.84M | 17.23M |
| Tangible Book Value Per Share | 3.73 | 4.02 | 4.30 | 4.60 | 5.18 | 5.36 |
| Land | 313.00K | 313.00K | 300.00K | 300.00K | 300.00K | 300.00K |
| Buildings | 2.74M | 2.74M | 2.74M | 2.21M | 1.79M | 1.72M |
| Machinery | 45.00M | 44.51M | 42.01M | 40.04M | 38.47M | 35.95M |
| Leasehold Improvements | 1.14M | 1.14M | 1.14M | 1.02M | 941.00K | 882.00K |
| Order Backlog | 136.80M | 117.90M | 98.30M | 85.70M | 75.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.76M | -1.30M | -1.37M | -2.13M | -1.08M | 1.63M |
| Depreciation & Amortization | 3.60M | 3.37M | 2.92M | 2.96M | 3.07M | 3.29M |
| Other Amortization | 36.00K | 69.00K | 68.00K | 68.00K | 65.00K | 150.00K |
| Loss (Gain) From Sale of Assets | -107.00K | -107.00K | -53.00K | -24.00K | -38.00K | -38.00K |
| Asset Writedown & Restructuring Costs | 163.00K | |||||
| Stock-Based Compensation | 1.27M | 1.05M | 797.00K | 482.00K | 526.00K | 653.00K |
| Provision & Write-off of Bad Debts | 129.00K | 68.00K | 52.00K | 63.00K | -313.00K | -86.00K |
| Other Operating Activities | -376.00K | -228.00K | ||||
| Change in Accounts Receivable | -318.00K | 1.76M | -1.06M | 1.53M | 1.30M | -1.59M |
| Change in Inventory | -6.51M | -5.45M | 1.04M | 1.97M | -2.29M | 2.59M |
| Change in Accounts Payable | -1.37M | 888.00K | 961.00K | -1.45M | 1.14M | -1.59M |
| Change in Unearned Revenue | 3.02M | -428.00K | -2.44M | 2.78M | -439.00K | 553.00K |
| Change in Income Taxes | -19.00K | -20.00K | -19.00K | -9.00K | -6.00K | -7.00K |
| Change in Other Net Operating Assets | -967.00K | -1.25M | -578.00K | -1.37M | -1.27M | -1.26M |
| Operating Cash Flow | -3.00M | -1.35M | 324.00K | 4.86M | 448.00K | 4.06M |
| Capital Expenditures | -1.69M | -3.32M | -2.30M | -2.12M | -2.36M | -1.36M |
| Sale of Property, Plant & Equipment | 200.00K | 200.00K | 16.00K | 7.00K | ||
| Investing Cash Flow | -1.49M | -3.12M | -2.29M | -2.11M | -2.36M | -1.36M |
| Long-Term Debt Issued | 6.35M | 3.12M | 1.13M | 3.74M | ||
| Long-Term Debt Repaid | -2.53M | -1.07M | -3.79M | -2.15M | -4.58M | |
| Net Debt Issued (Repaid) | 5.29M | 3.82M | 2.04M | -2.66M | 1.59M | -4.58M |
| Issuance of Common Stock | 3.45M | 4.64M | 327.00K | |||
| Repurchase of Common Stock | -131.00K | -127.00K | ||||
| Other Financing Activities | -25.00K | -20.00K | ||||
| Financing Cash Flow | 8.61M | 8.33M | 2.37M | -2.69M | 1.57M | -4.58M |
| Net Cash Flow | 4.12M | 3.86M | 407.00K | 65.00K | -346.00K | -1.88M |
| Free Cash Flow | -4.69M | -4.67M | -1.98M | 2.74M | -1.91M | 2.70M |
| Free Cash Flow Margin | -10.04% | -9.75% | -3.59% | 5.33% | -3.59% | 4.58% |
| Free Cash Flow Per Share | -0.98 | -1.11 | -0.59 | 0.84 | -0.59 | 0.84 |
| Levered Free Cash Flow | -7.43M | -7.71M | -987.25K | 4.89M | -1.59M | 2.80M |
| Unlevered Free Cash Flow | -6.25M | -6.63M | 127.88K | 6.02M | -814.25K | 3.44M |
| Cash Interest Paid | 1.96M | 1.83M | 1.85M | 1.91M | 1.29M | 1.21M |
| Cash Income Tax Paid | 43.00K | 21.00K | 20.00K | 6.10K | 6.00K | 7.00K |
| Change in Working Capital | -6.17M | -4.50M | -2.10M | 3.44M | -1.57M | -1.31M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 12.76M | 14.66M | 13.67M | 10.73M | 13.80M | 29.14M |
| Enterprise Value | 42.81M | 44.11M | 40.27M | 33.88M | 42.02M | 56.86M |
| Last Close Price | 2.63 | 3.07 | 4.07 | 3.25 | 4.25 | 9.07 |
| PE Ratio | 17.91 | |||||
| Forward PE | 16.03 | 16.03 | 13.94 | 32.69 | 15.12 | |
| PS Ratio | 0.27 | 0.31 | 0.25 | 0.21 | 0.26 | 0.49 |
| PB Ratio | 0.70 | 0.76 | 0.91 | 0.71 | 0.82 | 1.68 |
| P/TBV Ratio | 0.70 | 0.76 | 0.91 | 0.71 | 0.82 | 1.69 |
| P/FCF Ratio | 3.91 | 10.79 | ||||
| P/OCF Ratio | 42.18 | 2.21 | 30.81 | 7.17 | ||
| EV/Sales Ratio | 0.92 | 0.92 | 0.73 | 0.66 | 0.79 | 0.96 |
| EV/EBITDA Ratio | 17.80 | 18.70 | 14.88 | 16.47 | 18.05 | 10.75 |
| EV/EBIT Ratio | 87.74 | 22.86 | ||||
| EV/FCF Ratio | 12.35 | 21.06 | ||||
| Debt / Equity Ratio | 1.70 | 1.60 | 1.86 | 1.70 | 1.69 | 1.57 |
| Debt / EBITDA Ratio | 9.09 | 9.06 | 6.98 | 8.02 | 8.64 | 4.29 |
| Debt / FCF Ratio | 9.40 | 10.11 | ||||
| Net Debt / Equity Ratio | 1.66 | 1.57 | 1.81 | 1.67 | 1.68 | 1.53 |
| Net Debt / EBITDA Ratio | 12.50 | 12.78 | 10.02 | 12.36 | 12.12 | 5.04 |
| Net Debt / FCF Ratio | -6.41 | -6.45 | -13.71 | 9.27 | -14.76 | 9.88 |
| Asset Turnover | 0.85 | 0.88 | 1.08 | 0.99 | 0.99 | 1.06 |
| Inventory Turnover | 1.12 | 1.26 | 1.57 | 1.43 | 1.49 | 1.58 |
| Quick Ratio | 0.20 | 0.21 | 0.36 | 0.32 | 0.43 | 0.47 |
| Current Ratio | 1.24 | 1.24 | 1.43 | 1.46 | 1.79 | 1.75 |
| Return on Equity (ROE) | -10.55% | -7.64% | -9.06% | -13.31% | -6.29% | 10.01% |
| Return on Assets (ROA) | -0.61% | -0.39% | 0.56% | -0.35% | -0.23% | 2.80% |
| Return on Capital Employed (ROCE) | -2.70% | -1.60% | 1.90% | -1.20% | -0.60% | 8.30% |
| Earnings Yield | -14.03% | -8.90% | -9.99% | -19.85% | -7.80% | 5.58% |
| FCF Yield | -36.77% | -31.88% | -14.46% | 25.55% | -13.86% | 9.27% |
| Buyback Yield / Dilution | -35.27% | -26.39% | -1.77% | -1.59% | -0.69% | -4.25% |
| Total Shareholder Return | -35.27% | -26.39% | -1.77% | -1.59% | -0.69% | -4.25% |