AAR Corp.
NYSE:AIR · New York Stock Exchange
+$2.30 today
Vol 0.25M · Avg 0.44M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NYSE:AIR · Revenue to Net Income
Key Ratios
Analysis
$3.1B of revenue converted into $171.0M of net income for the selected period. Gross margin is 19.0% and net margin is 5.4%, showing how much revenue survives after costs and taxes. EPS is $4.53, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.8B +19.9% | $2.3B +16.5% | $2.0B +9.4% | $1.8B +10.1% | $1.7B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $2.3B +20.0% | $1.9B +15.8% | $1.6B +7.5% | $1.5B +9.5% | $1.4B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $527.7M +19.3% | $442.3M +19.5% | $370.1M +18.2% | $313.2M +13.5% | $275.9M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 19.0% -0.1pp | 19.1% +0.5pp | 18.6% +1.4pp | 17.2% +0.5pp | 16.7% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $347.7M +24.1% | $280.2M +21.6% | $230.4M +13.9% | $202.2M +10.9% | $182.4M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $342.5M +9.4% | $313.1M +32.6% | $236.2M +14.5% | $206.3M +8.1% | $190.9M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $55.2M +34.0% | $41.2M +47.7% | $27.9M -15.7% | $33.1M -8.8% | $36.3M | $374.2M | $1.2B | $631.8M |
| EBITDA | $169.5M +18.8% | $142.7M -11.5% | $161.3M +11.9% | $144.2M +97.3% | $73.1M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 6.1% -0.1pp | 6.2% -1.9pp | 8.1% +0.2pp | 7.9% +3.5pp | 4.4% | 5.6% | 46.3% | 42.0% |
| Operating Income | $185.2M +43.3% | $129.2M -3.5% | $133.9M +25.3% | $106.9M +25.5% | $85.2M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 6.7% +1.1pp | 5.6% -1.2pp | 6.7% +0.9pp | 5.9% +0.7pp | 5.2% | 16.6% | 24.1% | 22.0% |
| Interest Income | $1.8M -18.2% | $2.2M +120.0% | $1.0M +900.0% | $100.0K -50.0% | $200.0K | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $75.4M +74.5% | $43.2M +254.1% | $12.2M +408.3% | $2.4M -52.0% | $5.0M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$146.3M -106.3% | -$70.9M -458.3% | -$12.7M -605.6% | -$1.8M +91.3% | -$20.7M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $38.9M -33.3% | $58.3M -51.9% | $121.2M +15.3% | $105.1M +62.9% | $64.5M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 1.4% -1.1pp | 2.5% -3.6pp | 6.1% +0.3pp | 5.8% +1.9pp | 3.9% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $26.4M +120.0% | $12.0M -61.8% | $31.4M +18.0% | $26.6M +46.2% | $18.2M | $1.3B | -$1.6B | $745.2M |
| Net Income | $12.5M -73.0% | $46.3M -48.7% | $90.2M +14.6% | $78.7M +119.8% | $35.8M | $4.9B | $4.8B | $4.7B |
| Net Margin | 0.4% -1.5pp | 2.0% -2.5pp | 4.5% +0.2pp | 4.3% +2.2pp | 2.2% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $0 -73.1% | $1 -49.2% | $3 +16.9% | $2 +116.8% | $1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $0 -72.9% | $1 -49.0% | $3 +17.1% | $2 +116.0% | $1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $35.6M +1.4% | $35.1M +1.2% | $34.7M -2.5% | $35.6M +1.7% | $35.0M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $35.8M +1.1% | $35.4M +0.9% | $35.1M -2.5% | $36.0M +2.0% | $35.3M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Matson, Inc.
NYSE:MATX
$5.78B
Terex Corporation
NYSE:TEX
$4.90B
VSE Corporation
NASDAQ:VSEC
$4.90B
Firefly Aerospace Inc.
NASDAQ:FLY
$4.75B
AZZ Inc.
NYSE:AZZ
$4.63B
Standex International Corporation
NYSE:SXI
$3.69B
Plug Power Inc.
NASDAQ:PLUG
$3.11B
TriNet Group, Inc.
NYSE:TNET
$2.06B
CBIZ, Inc.
NYSE:CBZ
$1.68B
Outdoor Holding Company
NASDAQ:POWW
$237.51M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does AIR generate?
AAR Corp. (AIR) reported $2.78B of revenue in fiscal 2025.
Is AIR profitable?
AAR Corp. (AIR) reported $12.50M of net income, with a net margin of 0.4%.
Explore More
Continue the stock analysis
Jump to another research area for this company.