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Air T Inc Stock Research

AIRT

23.21USD+0.76(+3.39%)Delayed

Market Summary

USD23.21+0.76
Delayed
3.39%

AIRT Stock Price

AIRT RSI Chart

AIRT Valuation

Market Cap

64.5M

Price/Earnings (Trailing)

-25.64

Price/Sales (Trailing)

0.29

EV/EBITDA

13.92

Price/Free Cashflow

-3.48

AIRT Price/Sales (Trailing)

AIRT Profitability

EBT Margin

1.76%

Return on Equity

-11.77%

Return on Assets

-1.18%

Free Cashflow Yield

-28.76%

AIRT Fundamentals

AIRT Revenue

Revenue (TTM)

224.4M

Revenue Y/Y

35.14%

Revenue Q/Q

1.17%

AIRT Earnings

Earnings (TTM)

-2.5M

Earnings Y/Y

53.25%

Earnings Q/Q

52.11%

Price Action

52 Week Range

14.0128.95
(Low)(High)

Last 7 days

6.8%

Last 30 days

-0.1%

Last 90 days

-3.2%

Trailing 12 Months

-0.4%

AIRT Financial Health

Current Ratio

1.93

Debt/Equity

7.15

Debt/Cashflow

-0.11

AIRT Investor Care

Buy Backs (1Y)

2.08%

Diluted EPS (TTM)

0.36

Peers (Alternatives to Air T)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
57.2B
94.1B
8.14% -2.48%
17.16
0.61
5.07% -32.20%
24.5B
50.6B
-14.00% -15.25%
298.7
0.53
69.18% 370.71%
17.9B
23.8B
-9.71% -31.35%
18.7
0.75
50.82% -2.15%
16.3B
17.1B
-1.64% 3.07%
11.99
0.95
3.32% -4.10%
11.2B
24.7B
-3.27% -9.94%
11.93
0.45
6.90% 11.40%
MID-CAP
3.6B
7.7B
-8.75% -59.51%
5.48
0.47
7.16% 95.31%
2.9B
4.5B
0.24% 22.01%
8.22
0.64
12.86% -27.86%
2.7B
2.0B
-1.67% 5.75%
14.08
1.38
18.71% 82.50%
2.2B
9.2B
-16.32% -53.16%
-6.16
0.24
51.67% -98.90%
SMALL-CAP
1.8B
5.1B
-11.57% -22.05%
-3.29
0.36
56.88% -17.26%
1.5B
2.0B
2.13% -38.98%
7.31
0.71
17.94% -14.19%
299.2M
727.6M
-2.49% -16.72%
7.3
0.22
-19.14% 92.40%
64.5M
224.4M
-0.13% -0.39%
-25.64
0.29
30.18% -139.59%
2.7M
5.3B
-11.86% 3.00%
0.01
5e-4
26.18% 108.16%

Financials for Air T

Income Statement (Last 12 Months)
(In Thousands)
* denotes actual numbers (not divided by Thousands)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue7.7%224,384208,421190,971177,077172,367
Operating Expenses8.0%215,204199,351181,376168,322177,935
  S&GA Expenses7.1%37,98935,48133,43229,81735,153
EBITDA24.9%15,26512,21920,63620,204-
EBITDA Margin16.0%0.07*0.06*0.11*0.11*-
Earnings Before Taxes56.6%3,9382,51512,46413,396-174
EBT Margin45.4%0.02*0.01*0.07*0.08*-
Interest Expenses14.5%7,6296,6615,8324,9484,553
Net Income21.1%-2,515-3,1875,6007,3226,352
Net Income Margin26.7%-0.01*-0.02*0.03*0.04*-
Free Cahsflow27.9%-18,542-25,728-28,539-34,614-
Balance Sheet
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets-6.0%212226213208164
  Current Assets-10.5%131147137128107
    Cash Equivalents-32.8%5.007.007.006.006.00
  Inventory-1.6%86.0088.0086.0075.0076.00
  Net PPE-0.4%21.0021.0021.0021.0021.00
  Goodwill3.1%10.0010.0010.0010.004.00
Liabilities-7.2%178192178171135
  Current Liabilities-7.1%68.0073.0029.0031.0021.00
  Long Term Debt8.9%153140136108-
Shareholder's Equity-10.8%21.0024.0025.0025.0021.00
  Retained Earnings-6.6%23.0025.0026.0027.0022.00
  Additional Paid-In Capital13.8%1.001.000.000.000.00
Accumulated Depreciation5.5%6.006.006.005.005.00
Shares Outstanding-1.0%3.003.003.003.003.00
Minority Interest-0.6%1.001.001.001.001.00
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations29.1%-17.21-24.28-26.79-33.08-14.85
Cashflow From Investing48.4%-16.93-32.79-33.00-33.39-16.72
Cashflow From Financing-42.2%35.0061.0058.0059.00-11.23
  Buy Backs41.5%2.001.000.00--

Risks for AIRT

What is the probability of a big loss on AIRT?

100%


Probability that Air T stock will be more than 20% underwater in next one year

80%


Probability that Air T stock will be more than 30% underwater in next one year.

73.1%


Probability that Air T stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does AIRT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Air T was unfortunately bought at previous high price.

Drawdowns

Returns for AIRT

Cumulative Returns on AIRT

18.9%


10-Year Cumulative Returns

11.1%


7-Year Cumulative Returns

15.4%


5-Year Cumulative Returns

28.5%


3-Year Cumulative Returns

What are the long-term rolling returns for AIRT?

FIve years rolling returns for Air T.

Annualized Returns

Which funds bought or sold AIRT recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-02-14
BRIDGEWAY CAPITAL MANAGEMENT, LLC
unchanged
-
137,803
432,803
0.01%
2023-02-14
NewEdge Advisors, LLC
new
-
32,457
32,457
-%
2023-02-14
MORGAN STANLEY
added
2.25
181,380
562,380
-%
2023-02-13
RENAISSANCE TECHNOLOGIES LLC
reduced
-5.77
813,000
3,066,000
-%
2023-02-13
GEODE CAPITAL MANAGEMENT, LLC
reduced
-0.21
120,000
381,000
-%
2023-02-13
BlackRock Inc.
added
0.51
71,784
228,784
-%
2023-02-13
DCF Advisers, LLC
reduced
-3.84
74,927
266,927
0.18%
2023-02-13
WELLS FARGO & COMPANY/MN
unchanged
-
173
173
-%
2023-02-10
VANGUARD GROUP INC
added
0.06
406,529
1,319,530
-%
2023-02-10
ADVISOR GROUP HOLDINGS, INC.
sold off
-100
-4,000
-
-%

1–10 of 16

Latest Funds Activity

Are funds buying AIRT calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own AIRT
No. of Funds

Air T News

Seeking Alpha

Air T, Inc. (AIRT) Stock Price Today, Quote & News.

Seeking Alpha,
4 days ago

StreetInsider.com

Form N-PX BRIDGEWAY FUNDS INC For: Jun 30.

StreetInsider.com,
19 months ago

Benzinga

Merger and Acquisitions (M&A).

Benzinga,
23 months ago

Schedule 13G FIlings of Air T

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 13, 2023
renaissance technologies llc
4.36%
124,011
SC 13G/A
Sep 27, 2022
farnam street partners lp /mn
13.75%
394,090
SC 13D/A
Feb 11, 2022
renaissance technologies llc
5.54%
159,711
SC 13G/A
Feb 22, 2021
ao partners i, lp
32.6%
940,750
SC 13D/A
Feb 11, 2021
renaissance technologies llc
6.43%
185,211
SC 13G/A
Jan 12, 2021
ao partners i, lp
32.5%
937,084
SC 13D/A
Jan 08, 2021
farnam street partners lp /mn
13.55%
390,424
SC 13D/A
Apr 01, 2020
swenson nicholas john
30.3%
883,557
SC 13D/A
Mar 31, 2020
farnam street partners lp /mn
12.0%
350,313
SC 13D/A
Feb 13, 2020
renaissance technologies llc
6.99%
211,311
SC 13G/A

AIRT Fair Value

Air T fair value in different scenarios

The table shows the Fair Value estimates for Air T for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

9.74

-58.04%

12.49

-46.19%

18.84

-18.83%

36.82

58.64%

54.38

134.30%
Current Inflation

9.17

-60.49%

11.61

-49.98%

17.08

-26.41%

32.75

41.10%

47.96

106.64%
Very High Inflation

8.44

-63.64%

10.51

-54.72%

14.95

-35.59%

27.93

20.34%

40.44

74.24%

Historical Air T Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of Air T

View All Filings
Date Filed Form Type Document
Mar 27, 2023
8-K
Current Report
Feb 21, 2023
8-K
Current Report
Feb 13, 2023
SC 13G/A
Major Ownership Report
Feb 10, 2023
10-Q
Quarterly Report
Feb 06, 2023
8-K
Current Report

Latest Insider Trading transactions for AIRT

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2022-09-16
McClung Peter B.
bought
36,875
14.75
2,500
-
2022-09-16
CABILLOT RAYMOND E
bought
30,860
15.5
1,991
-
2022-09-15
CABILLOT RAYMOND E
bought
41,719
15.4118
2,707
-
2022-09-14
CABILLOT RAYMOND E
bought
4,620
15.3013
302
-
2022-09-13
McClung Peter B.
bought
40,200
16.75
2,400
-
2022-09-12
McClung Peter B.
bought
43,996
17.5984
2,500
-
2022-09-12
CABILLOT RAYMOND E
bought
87,681
17.5362
5,000
-
2022-08-26
Swenson Nicholas John
acquired
21,562
5.75
3,750
ceo
2022-08-18
McClung Peter B.
bought
1,700
17.00
100
-
2022-08-17
CABILLOT RAYMOND E
bought
7,650
15.3
500
-

1–10 of 50

Nicholas J. Swenson
450
Air T, Inc., through its subsidiaries, provides overnight air cargo, ground equipment sale, commercial jet engines and parts, and printing equipment and maintenance services in the United States and internationally. The company's Overnight Air Cargo segment offers air express delivery services. As of March 31, 2021, this segment had 66 aircraft under the dry-lease agreements with FedEx. Its Ground Equipment Sales segment manufactures, sells, and services aircraft deicers, scissor-type lifts, military and civilian decontamination units, flight-line tow tractors, glycol recovery vehicles, and other specialized equipment. This segment sells its products to passenger and cargo airlines, ground handling companies, the United States Air Force, airports, and industrial customers. Its Commercial Aircraft, Engines and Parts segment offers commercial aircraft trading, leasing, and parts solutions; commercial aircraft storage, storage maintenance, and aircraft disassembly/part-out services; commercial aircraft parts sales, exchanges, procurement services, consignment programs, and overhaul and repair services; and aircraft instrumentation, avionics, and a range of electrical accessories for civilian, military transport, regional/commuter and business/commercial jet, and turboprop aircraft. This segment also provides composite aircraft structures, and repair and support services. Air T, Inc. was incorporated in 1980 and is based in Denver, North Carolina.

AIRT Income Statement

2022-09-30
Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
shares in Thousands
3 Months Ended6 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating Revenues:    
Total revenue$ 60,688,000$ 43,238,000$ 111,550,000$ 80,206,000
Operating Expenses:    
General and administrative10,664,0008,615,00022,396,00016,836,000
Depreciation and amortization1,026,000323,0001,888,000703,000
Inventory write-down1,003,00001,020,0000
Asset impairment485,0000516,0000
(Gain) Loss on sale of property and equipment(1,000)0(2,000)3,000
Operating expenses60,509,00042,534,000110,538,00079,507,000
Operating Income179,000704,0001,012,000699,000
Non-operating (Expense) Income:    
Interest expense(1,996,000)(1,167,000)(3,818,000)(2,105,000)
Income from equity method investments266,00014,000798,00097,000
Gain on forgiveness of Paycheck Protection Program (“PPP”) loan08,331,00008,331,000
Other(357,000)159,000(509,000)1,340,000
Nonoperating income (expense)(2,087,000)7,337,000(3,529,000)7,663,000
(Loss) Income before income taxes(1,908,000)8,041,000(2,517,000)8,362,000
Income Taxes (Benefit) Expense(572,000)38,000(380,000)33,000.0
Net (Loss) Income(1,336,000)8,003,000(2,137,000)8,329,000
Net Loss (Income) Attributable to Non-controlling Interests104,000(448,000)(528,000)(486,000)
Net (Loss) Income Attributable to Air T, Inc. Stockholders$ (1,232,000)$ 7,555,000$ (2,665,000)$ 7,843,000
(Loss) Income per share (Note 6)    
Basic (in dollars per share)$ (0.43)$ 2.62$ (0.93)$ 2.72
Diluted (in dollars per share)$ (0.43)$ 2.60$ (0.93)$ 2.71
Weighted Average Shares Outstanding:    
Basic (in shares)2,8652,8822,8662,882
Diluted (in shares)2,8652,9012,8662,893
Overnight air cargo    
Operating Revenues:    
Total revenue$ 22,069,000$ 18,847,000$ 42,633,000$ 37,697,000
Operating Expenses:    
Cost of Revenue19,451,00016,553,00037,522,00033,297,000
Depreciation and amortization23,00014,00042,00027,000
Operating Income845,000857,0001,922,0001,589,000
Ground equipment sales    
Operating Revenues:    
Total revenue18,019,0009,189,00023,834,00017,371,000
Operating Expenses:    
Cost of Revenue14,438,0008,033,00018,870,00013,562,000
Depreciation and amortization46,00032,00095,00064,000
Operating Income1,887,00043,0002,029,0001,465,000
Commercial jet engines and parts    
Operating Revenues:    
Total revenue18,986,00014,916,00041,841,00024,510,000
Operating Expenses:    
Cost of Revenue13,443,0009,010,00028,328,00015,106,000
Depreciation and amortization563,000214,000996,000479,000
Operating Income(204,000)1,902,0002,870,0001,664,000
Corporate and other    
Operating Revenues:    
Total revenue1,614,000286,0003,242,000628,000
Operating Expenses:    
Depreciation and amortization394,00062,000755,000133,000
Operating Income$ (2,349,000)$ (2,098,000)$ (5,809,000)$ (4,019,000)

AIRT Balance Sheet

2022-09-30
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2022
Mar. 31, 2022
Current Assets:  
Cash and cash equivalents$ 7,071$ 5,616
Marketable securities788859
Restricted cash2,3942,752
Restricted investments1,5891,691
Accounts receivable, net of allowance for doubtful accounts of $1,328 and $1,36822,57119,684
Income tax receivable3,8933,230
Inventories, net87,60475,167
Employee retention credit receivable7,6899,138
Other current assets12,93210,106
Total Current Assets146,531128,243
Assets on lease or held for lease, net of accumulated depreciation of $1,041 and $78014,57414,509
Property and equipment, net of accumulated depreciation of $6,015 and $5,40521,33821,212
Intangible assets, net of accumulated amortization of $3,512 and $2,94710,72213,260
Right-of-use ("ROU") assets6,7557,354
Equity method investments11,5599,864
Goodwill10,09310,126
Other assets4,3603,031
Total Assets225,932207,599
Current Liabilities:  
Accounts payable13,2499,397
Income tax payable252194
Accrued expenses and other (Note 4)13,62613,391
Current portion of long-term debt44,7046,482
Short-term lease liability1,3411,443
Total Current Liabilities73,17230,907
Long-term debt107,979129,326
Deferred income tax liabilities, net3,1752,812
Long-term lease liability6,2066,734
Other non-current liabilities1,2081,342
Total Liabilities191,740171,121
Redeemable non-controlling interest10,25310,761
Commitments and contingencies (Note 16)
Equity:  
Preferred stock, $1.00 par value, 2,000,000 shares authorized00
Common stock, $.25 par value; 4,000,000 shares authorized, 3,026,495 and 3,022,745 shares issued, 2,850,748 and 2,866,418 shares outstanding757756
Treasury stock, 175,747 shares at $19.07 and 156,327 shares at $19.20(3,353)(3,002)
Additional paid-in capital571393
Retained earnings24,80226,729
Accumulated other comprehensive income (loss)68(263)
Total Air T, Inc. Stockholders' Equity22,84524,613
Non-controlling Interests1,0941,104
Total Equity23,93925,717
Total Liabilities and Equity$ 225,932$ 207,599