Air Transport Services Group (ATSG) Financials

$22.48 0.00 (0.00%)

As of 04/11/2025

Annual Income Statements for Air Transport Services Group

This table shows Air Transport Services Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Income / (Loss) Attributable to Common Shareholders	27	60	199	231	32	-1,283	69	18	37	41	30
Consolidated Net Income / (Loss)	27	60	199	231	32	61	69	18	23	41	30
Net Income / (Loss) Continuing Operations	27	60	196	229	25	60	68	22	21	39	32
Total Pre-Tax Income	42	84	260	301	41	72	87	-6.54	34	63	52
Total Operating Income	128	200	285	321	206	177	111	99	71	73	65
Total Gross Profit	853	893	941	796	724	693	406	501	338	281	271
Total Revenue	1,962	2,071	2,045	1,734	1,571	1,452	892	1,068	769	619	590
Operating Revenue	1,962	2,071	2,045	1,734	1,571	1,452	892	1,068	769	619	590
Total Cost of Revenue	1,109	1,177	1,105	938	847	759	486	567	431	338	318
Operating Cost of Revenue	1,109	1,177	1,105	938	847	759	486	567	431	338	318
Total Operating Expenses	726	694	655	475	518	1,792	295	402	267	208	207
Selling, General & Admin Expense	161	173	165	78	75	76	40	37	29	24	31
Depreciation Expense	385	343	331	308	278	258	179	155	135	125	108
Other Operating Expenses / (Income)	171	178	159	89	125	1,457	71	210	103	58	68
Restructuring Charge	8.28	0.00	0.00	-	-	0.37	5.26	0.00	0.00	-	-
Total Other Income / (Expense), net	-85	-116	-25	-20	-165	-175	-24	-106	-22	-10	-13
Interest Expense	83	74	47	65	63	67	-	-	11	11	14
Interest & Investment Income	-1.21	-3.97	-7.19	0.04	0.22	0.37	-	-	0.13	0.09	0.09
Other Income / (Expense), net	-1.55	-38	29	45	-102	-108	-24	-106	-25	0.92	1.10
Income Tax Expense	15	24	64	72	16	12	20	-28	13	23	20
Net Income / (Loss) Discontinued Operations	0.00	0.58	2.14	2.44	7.04	1.22	1.40	-3.25	2.43	2.07	-2.21
Basic Earnings per Share	$0.42	$0.88	$2.70	$3.36	$0.54	$1.04	$1.18	$0.31	$0.38	$0.64	$0.46
Weighted Average Basic Shares Outstanding	65.03M	68.64M	73.61M	68.85M	59.13M	58.90M	58.77M	58.91M	61.33M	64.24M	64.25M
Diluted Earnings per Share	$0.40	$0.82	$2.28	$2.83	$0.54	-	$0.91	$0.31	$0.37	$0.63	$0.46
Weighted Average Diluted Shares Outstanding	67.31M	75.56M	88.32M	76.22M	59.93M	58.90M	68.36M	59.69M	62.99M	65.13M	65.21M
Weighted Average Basic & Diluted Shares Outstanding	65.89M	65.68M	71.98M	74.22M	59.56M	58.90M	59.14M	59.07M	61.80M	64.40M	64.90M

This table shows Air Transport Services Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	15	-3.33	7.43	8.62	-15	17	38	20	43	51
Consolidated Net Income / (Loss)	15	-3.33	7.43	8.62	-15	17	38	20	43	51
Net Income / (Loss) Continuing Operations	15	-3.33	7.43	8.62	-16	17	38	20	42	50
Total Pre-Tax Income	24	-5.19	11	12	-16	24	50	27	61	65
Total Operating Income	42	22	31	33	37	46	70	47	73	73
Total Gross Profit	239	202	212	201	214	224	241	214	242	237
Total Revenue	517	471	488	486	517	523	529	501	533	517
Operating Revenue	517	471	488	486	517	523	529	501	533	517
Total Cost of Revenue	278	269	276	285	303	299	288	287	291	280
Operating Cost of Revenue	278	269	276	285	303	299	288	287	291	280
Total Operating Expenses	197	181	181	168	177	178	171	166	169	164
Selling, General & Admin Expense	43	39	44	35	45	44	45	40	100	20
Depreciation Expense	103	99	92	90	89	86	83	85	84	83
Other Operating Expenses / (Income)	43	42	44	42	43	48	44	42	-15	61
Total Other Income / (Expense), net	-17	-27	-21	-21	-52	-23	-20	-21	-11	-7.74
Interest Expense	19	20	21	22	22	19	17	16	14	12
Interest & Investment Income	0.18	-0.52	-1.04	0.16	-0.16	-1.70	-1.93	-0.19	-7.27	0.06
Other Income / (Expense), net	1.58	-6.25	1.86	1.27	-30	-1.44	-1.40	-4.96	9.83	4.38
Income Tax Expense	9.63	-1.86	3.31	3.83	-0.00	6.35	12	6.43	19	15
Basic Earnings per Share	$0.23	($0.05)	$0.11	$0.13	($0.20)	$0.26	$0.54	$0.28	$0.60	$0.69
Weighted Average Basic Shares Outstanding	65.03M	65.04M	65.03M	64.97M	68.64M	67.25M	70.72M	71.80M	73.61M	74.00M
Diluted Earnings per Share	$0.21	($0.05)	$0.11	$0.13	($0.16)	$0.24	$0.49	$0.25	$0.51	$0.58
Weighted Average Diluted Shares Outstanding	67.31M	65.04M	67.30M	67.24M	75.56M	72.67M	79.52M	83.06M	88.32M	88.75M
Weighted Average Basic & Diluted Shares Outstanding	65.89M	65.76M	65.76M	65.72M	65.68M	65.27M	70.76M	71.58M	71.98M	72.73M

This table details how cash moves in and out of Air Transport Services Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Change in Cash & Equivalents	7.02	26	-42	30	-6.48	-13	27	16	-1.34	-13	-1.14
Net Cash From Operating Activities	533	654	472	584	512	397	298	235	193	175	150
Net Cash From Continuing Operating Activities	533	653	468	579	498	356	288	198	164	156	136
Net Income / (Loss) Continuing Operations	27	59	194	227	18	59	66	25	19	37	34
Consolidated Net Income / (Loss)	27	60	196	229	25	60	68	22	21	39	32
Net Income / (Loss) Discontinued Operations	0.00	0.58	2.14	2.44	7.04	1.22	1.40	-3.25	2.43	2.07	-2.21
Depreciation Expense	416	364	356	342	310	285	205	171	140	125	108
Non-Cash Adjustments To Reconcile Net Income	-14	46	9.60	24	165	3.60	4.45	-14	-8.37	-4.47	-5.57
Changes in Operating Assets and Liabilities, net	103	184	-92	-13	5.07	7.93	12	17	14	-0.40	5.30
Net Cash From Investing Activities	-305	-766	-600	-487	-499	-467	-1,142	-298	-269	-152	-124
Net Cash From Continuing Investing Activities	-305	-766	-600	-487	-499	-467	-1,142	-298	-235	-152	-94
Purchase of Property, Plant & Equipment	-331	-793	-599	-505	-510	-454	-293	-297	-264	-159	-112
Purchase of Investments	-20	-1.60	-17	-2.16	-13	-24	-867	-12	-17	0.00	-15
Sale of Property, Plant & Equipment	47	29	16	19	25	11	18	0.38	12	6.84	3.60
Net Cash From Financing Activities	-221	138	86	-66	-20	57	871	80	75	-36	-27
Net Cash From Continuing Financing Activities	-221	138	86	-66	-20	74	871	192	75	-36	-27
Repayment of Debt	-796	-438	-483	-1,903	-697	-41	-69	-262	-44	-69	-79
Repurchase of Common Equity	0.00	-155	-54	0.00	0.00	0.00	-3.58	-11	-64	-10	0.00
Issuance of Debt	580	735	625	1,708	680	100	945	374	185	45	45
Other Financing Activities, net	-5.22	-2.99	-2.92	-2.86	-2.73	-2.44	-2.33	-59	-2.30	-1.31	6.94
Cash Interest Paid	82	52	47	44	41	58	17	14	11	11	14
Cash Income Taxes Paid	6.92	6.84	6.21	3.43	1.14	1.29	1.21	1.94	0.92	0.87	0.60

This table details how cash moves in and out of Air Transport Services Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	16	16	5.53	-30	2.97	7.44	-46	62	15	-35
Net Cash From Operating Activities	134	136	137	126	128	118	192	216	74	148
Net Cash From Continuing Operating Activities	134	136	137	126	127	118	192	216	227	-8.04
Net Income / (Loss) Continuing Operations	15	-3.33	7.43	8.62	-16	17	38	20	40	51
Consolidated Net Income / (Loss)	15	-3.33	7.43	8.62	-16	17	38	20	-	-
Depreciation Expense	112	108	100	95	94	91	88	91	91	89
Non-Cash Adjustments To Reconcile Net Income	-15	7.15	-9.97	3.82	23	6.30	10	6.94	5.62	-5.14
Changes in Operating Assets and Liabilities, net	21	23	40	19	26	3.07	56	98	-65	12
Net Cash From Investing Activities	-99	-49	-45	-111	-194	-169	-194	-210	-139	-150
Net Cash From Continuing Investing Activities	-99	-49	-45	-111	-194	-169	-194	-210	-139	-150
Purchase of Property, Plant & Equipment	-110	-48	-70	-102	-212	-168	-194	-219	-151	-154
Purchase of Investments	-0.60	-10	-	-9.80	-	-0.80	-	-0.80	-0.31	0.31
Sale of Property, Plant & Equipment	12	9.07	25	0.90	19	0.07	0.59	9.86	12	3.61
Net Cash From Financing Activities	-19	-70	-86	-46	68	59	-45	56	38	9.71
Net Cash From Continuing Financing Activities	-19	-70	-86	-46	68	59	-45	56	-77	125
Repayment of Debt	-169	-155	-331	-140	-45	-302	-65	-26	-137	65
Issuance of Debt	155	85	245	95	115	480	35	105	115	60
Other Financing Activities, net	-4.67	-0.02	-0.07	-0.46	-1.41	-	-0.03	-1.55	-1.40	-0.08
Cash Interest Paid	9.05	31	11	32	9.33	22	8.59	12	7.48	18
Cash Income Taxes Paid	0.63	0.74	5.53	0.03	0.29	0.03	6.45	0.06	4.47	1.23

This table presents Air Transport Services Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Total Assets	3,894	3,882	3,590	3,267	3,002	2,820	2,471	1,549	1,259	1,042	1,012
Total Current Assets	352	346	418	353	273	267	259	185	133	101	97
Cash & Equivalents	61	54	27	69	40	46	59	33	16	18	31
Accounts Receivable	208	216	302	205	154	163	148	109	77	58	44
Inventories, net	50	50	58	49	40	37	34	22	20	13	11
Prepaid Expenses	33	27	32	29	39	20	19	21	19	13	13
Plant, Property, & Equipment, net	2,752	2,821	2,402	2,130	1,940	1,766	1,555	1,160	1,001	875	847
Total Noncurrent Assets	790	716	769	785	711	787	656	204	126	65	67
Goodwill	467	482	493	505	396	396	391	37	37	34	-
Other Noncurrent Operating Assets	323	233	276	279	69	113	57	79	25	26	28
Total Liabilities & Shareholders' Equity	3,894	3,882	3,590	3,267	3,002	2,820	2,471	1,549	1,259	1,042	1,012
Total Liabilities	2,410	2,513	2,177	1,945	2,146	2,360	2,034	1,154	927	678	664
Total Current Liabilities	359	400	307	313	302	263	229	185	156	127	112
Short-Term Debt	0.66	55	0.64	0.63	14	15	30	19	29	34	24
Accounts Payable	237	228	193	174	141	141	110	100	61	44	41
Accrued Expenses	9.98	11	12	15	19	18	20	10	10	8.11	8.20
Current Deferred Revenue	30	30	22	47	54	18	19	16	18	13	13
Current Employee Benefit Liabilities	63	57	56	57	57	59	51	40	37	27	26
Other Current Liabilities	19	20	23	19	18	13	0.00	-	-	-	-
Total Noncurrent Liabilities	2,050	2,113	1,870	1,632	1,844	2,097	1,805	969	772	551	553
Long-Term Debt	1,548	1,708	1,464	1,299	1,465	1,470	1,372	552	429	284	320
Capital Lease Obligations	35	35	52	44	51	30	0.00	-	-	-	-
Noncurrent Deferred & Payable Income Tax Liabilities	297	285	255	217	141	127	113	99	123	97	83
Noncurrent Employee Benefit Liabilities	17	19	35	21	35	37	64	61	78	108	92
Other Noncurrent Operating Liabilities	153	66	64	51	151	432	256	256	142	62	58
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,484	1,369	1,413	1,322	855	460	436	395	332	364	347
Total Preferred & Common Equity	1,484	1,369	1,413	1,322	855	460	436	395	332	364	347
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,484	1,369	1,413	1,322	855	460	436	395	332	364	347
Common Stock	917	837	987	1,075	856	476	472	472	444	519	527
Retained Earnings	617	589	529	309	78	46	56	-14	-32	-56	-97
Accumulated Other Comprehensive Income / (Loss)	-49	-57	-103	-62	-79	-62	-91	-63	-80	-99	-83

This table presents Air Transport Services Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	3,884	3,939	3,892	3,846	3,753	3,702	3,525
Total Current Assets	311	315	315	364	351	408	389
Cash & Equivalents	45	29	23	51	43	90	54
Accounts Receivable	185	206	220	226	218	227	251
Inventories, net	50	51	50	51	58	58	55
Prepaid Expenses	31	30	22	36	32	34	28
Plant, Property, & Equipment, net	2,772	2,819	2,866	2,750	2,679	2,554	2,339
Total Noncurrent Assets	802	805	710	733	722	741	797
Goodwill	473	477	480	485	488	490	495
Other Noncurrent Operating Assets	328	328	230	248	235	251	217
Total Liabilities & Shareholders' Equity	3,884	3,939	3,892	3,846	3,753	3,702	3,525
Total Liabilities	2,416	2,474	2,510	2,498	2,309	2,288	2,060
Total Current Liabilities	382	429	420	394	393	347	319
Short-Term Debt	0.66	55	55	0.65	0.65	0.64	0.64
Accounts Payable	249	255	250	272	270	218	186
Accrued Expenses	12	11	9.79	12	11	11	13
Current Deferred Revenue	38	38	31	28	39	34	37
Current Employee Benefit Liabilities	62	48	55	59	52	60	60
Other Current Liabilities	20	21	19	22	22	23	22
Total Noncurrent Liabilities	2,034	2,045	2,091	2,104	1,916	1,941	1,740
Long-Term Debt	1,562	1,577	1,663	1,691	1,515	1,544	1,369
Capital Lease Obligations	42	46	-	39	40	45	41
Noncurrent Deferred & Payable Income Tax Liabilities	287	292	288	280	272	261	253
Noncurrent Employee Benefit Liabilities	15	16	18	31	33	34	20
Other Noncurrent Operating Liabilities	129	114	122	63	56	58	58
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,468	1,465	1,381	1,348	1,443	1,414	1,466
Total Preferred & Common Equity	1,468	1,465	1,381	1,348	1,443	1,414	1,466
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,468	1,465	1,381	1,348	1,443	1,414	1,466
Common Stock	918	914	839	836	952	965	1,040
Retained Earnings	602	605	598	604	587	549	486
Accumulated Other Comprehensive Income / (Loss)	-52	-53	-55	-92	-96	-100	-61

This table displays calculated financial ratios and metrics derived from Air Transport Services Group's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.25%	1.23%	17.94%	10.42%	8.15%	62.74%	-16.46%	38.93%	24.16%	5.03%	1.65%
EBITDA Growth	3.14%	-21.63%	-5.35%	70.93%	17.05%	21.23%	77.84%	-11.54%	-6.05%	17.85%	68.75%
EBIT Growth	-21.99%	-48.54%	-14.17%	252.15%	51.53%	-21.50%	1,438.40%	-114.32%	-38.08%	12.33%	374.96%
NOPAT Growth	-41.58%	-34.16%	-11.85%	95.29%	-15.70%	72.19%	23.81%	61.32%	-5.32%	13.97%	333.09%
Net Income Growth	-54.52%	-69.62%	-14.19%	620.60%	-47.53%	-11.67%	274.61%	-21.26%	-43.02%	38.05%	252.13%
EPS Growth	-51.22%	-64.04%	-19.43%	424.07%	0.00%	0.00%	193.55%	-16.22%	-41.27%	36.96%	248.39%
Operating Cash Flow Growth	-18.54%	38.54%	-19.10%	13.91%	29.06%	33.19%	26.82%	21.70%	10.33%	16.89%	58.59%
Free Cash Flow Firm Growth	372.81%	23.51%	-6.39%	60.48%	-9,835.67%	99.72%	-754.82%	-32.58%	-257.83%	-54.27%	264.70%
Invested Capital Growth	-3.37%	7.26%	11.76%	14.50%	17.58%	8.46%	90.67%	20.46%	16.59%	0.47%	-7.41%
Revenue Q/Q Growth	-0.01%	-0.77%	-16.88%	46.31%	-0.25%	9.22%	-4.51%	10.48%	5.50%	3.97%	0.17%
EBITDA Q/Q Growth	12.52%	-11.01%	-4.02%	11.35%	47.77%	-15.37%	-10.06%	44.16%	-7.89%	8.06%	45.41%
EBIT Q/Q Growth	49.24%	-29.67%	-7.74%	19.95%	541.66%	-53.15%	-33.76%	85.70%	-30.09%	13.40%	276.96%
NOPAT Q/Q Growth	156.66%	-17.63%	-19.61%	16.03%	-10.31%	11.27%	-37.57%	9.88%	-1.84%	15.62%	144.23%
Net Income Q/Q Growth	1,299.04%	-48.87%	-69.59%	188.84%	343.26%	-36.95%	-58.94%	124.63%	-36.04%	36.66%	278.89%
EPS Q/Q Growth	1,233.33%	-44.97%	-9.88%	-36.69%	0.00%	0.00%	-61.60%	124.60%	-28.85%	36.96%	270.37%
Operating Cash Flow Q/Q Growth	1.09%	8.99%	-14.53%	12.60%	-0.15%	-1.83%	21.88%	-2.40%	4.96%	-1.06%	6.66%
Free Cash Flow Firm Q/Q Growth	228.82%	-97.85%	-1,221.49%	48.36%	-96.63%	99.74%	-661.29%	-245.66%	-180.64%	-61.65%	176.88%
Invested Capital Q/Q Growth	-0.67%	2.78%	2.86%	1.96%	4.39%	0.24%	83.47%	27.50%	6.18%	0.41%	-9.79%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	43.50%	43.15%	46.00%	45.90%	46.09%	47.75%	45.48%	46.90%	43.93%	45.36%	46.02%
EBITDA Margin	27.62%	25.37%	32.77%	40.84%	26.38%	24.38%	32.73%	15.37%	24.14%	31.91%	28.44%
Operating Margin	6.51%	9.65%	13.96%	18.52%	13.14%	12.19%	12.44%	9.31%	9.18%	11.75%	10.94%
EBIT Margin	6.44%	7.82%	15.38%	21.13%	6.63%	4.73%	9.80%	-0.61%	5.94%	11.90%	11.13%
Profit (Net Income) Margin	1.40%	2.91%	9.71%	13.34%	2.04%	4.21%	7.76%	1.73%	3.05%	6.66%	5.06%
Tax Burden Percent	64.79%	71.61%	76.23%	76.83%	77.59%	85.51%	79.20%	-282.97%	68.17%	65.89%	57.67%
Interest Burden Percent	33.54%	52.05%	82.82%	82.19%	39.78%	104.22%	100.00%	100.00%	75.49%	84.88%	78.90%
Effective Tax Rate	35.21%	29.07%	24.59%	23.98%	39.41%	16.19%	22.40%	0.00%	38.88%	37.42%	38.05%
Return on Invested Capital (ROIC)	2.71%	4.71%	7.83%	10.04%	5.96%	8.00%	6.36%	8.15%	6.00%	6.88%	5.81%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.68%	-0.32%	6.62%	9.09%	-0.49%	1.80%	4.56%	-2.28%	0.70%	5.46%	2.74%
Return on Net Nonoperating Assets (RNNOA)	-0.78%	-0.38%	6.69%	11.21%	-1.08%	5.65%	10.31%	-3.07%	0.75%	4.71%	2.52%
Return on Equity (ROE)	1.92%	4.34%	14.52%	21.25%	4.88%	13.65%	16.66%	5.09%	6.75%	11.59%	8.34%
Cash Return on Invested Capital (CROIC)	6.14%	-2.29%	-3.27%	-3.48%	-10.20%	-0.12%	-56.03%	-10.41%	-9.32%	6.41%	13.51%
Operating Return on Assets (OROA)	3.25%	4.33%	9.17%	11.69%	3.57%	2.60%	4.35%	-0.47%	3.97%	7.18%	6.42%
Return on Assets (ROA)	0.71%	1.61%	5.79%	7.38%	1.10%	2.31%	3.45%	1.32%	2.04%	4.01%	2.92%
Return on Common Equity (ROCE)	1.92%	4.34%	14.52%	21.25%	4.88%	13.65%	16.66%	5.09%	6.75%	11.59%	8.34%
Return on Equity Simple (ROE_SIMPLE)	1.85%	4.41%	14.06%	17.50%	3.75%	13.29%	15.88%	4.68%	7.08%	11.32%	8.59%
Net Operating Profit after Tax (NOPAT)	83	142	215	244	125	148	86	70	43	46	40
NOPAT Margin	4.22%	6.85%	10.52%	14.08%	7.96%	10.21%	9.65%	6.51%	5.61%	7.36%	6.78%
Net Nonoperating Expense Percent (NNEP)	3.39%	5.04%	1.21%	0.95%	6.45%	6.20%	1.79%	10.43%	5.29%	1.41%	3.07%
Return On Investment Capital (ROIC_SIMPLE)	2.70%	4.48%	7.35%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	56.50%	56.85%	54.00%	54.10%	53.91%	52.25%	54.52%	53.10%	56.07%	54.64%	53.98%
SG&A Expenses to Revenue	8.23%	8.34%	8.08%	4.48%	4.77%	5.26%	4.45%	3.43%	3.78%	3.92%	5.20%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.99%	33.49%	32.04%	27.38%	32.95%	123.38%	33.04%	37.59%	34.75%	33.61%	35.07%
Earnings before Interest and Taxes (EBIT)	126	162	315	366	104	69	87	-6.54	46	74	66
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	542	525	670	708	414	354	292	164	186	198	168
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.97	0.84	1.34	1.65	2.18	3.03	3.09	3.46	2.86	1.78	1.60
Price to Tangible Book Value (P/TBV)	1.42	1.30	2.05	2.67	5.51	0.00	0.00	3.90	3.32	1.99	1.80
Price to Revenue (P/Rev)	0.74	0.56	0.92	1.26	1.19	0.96	1.51	1.28	1.24	1.05	0.94
Price to Earnings (P/E)	52.69	19.05	9.51	9.42	58.15	0.00	19.45	73.97	25.61	15.74	18.62
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.90%	5.25%	10.51%	10.62%	1.72%	0.00%	5.14%	1.35%	3.90%	6.35%	5.37%
Enterprise Value to Invested Capital (EV/IC)	0.99	0.93	1.16	1.33	1.48	1.48	1.51	2.04	1.80	1.43	1.32
Enterprise Value to Revenue (EV/Rev)	1.51	1.40	1.65	1.99	2.14	1.97	3.01	1.78	1.81	1.53	1.47
Enterprise Value to EBITDA (EV/EBITDA)	5.48	5.51	5.04	4.88	8.10	8.08	9.21	11.60	7.50	4.80	5.19
Enterprise Value to EBIT (EV/EBIT)	23.51	17.88	10.74	9.43	32.27	41.67	30.75	0.00	30.52	12.87	13.25
Enterprise Value to NOPAT (EV/NOPAT)	35.85	20.41	15.70	14.14	26.85	19.29	31.22	27.39	32.30	20.83	21.75
Enterprise Value to Operating Cash Flow (EV/OCF)	5.57	4.42	7.16	5.92	6.55	7.21	9.02	8.11	7.21	5.42	5.81
Enterprise Value to Free Cash Flow (EV/FCFF)	15.81	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	22.34	9.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.07	1.31	1.07	1.02	1.79	3.29	3.21	1.44	1.38	0.87	0.99
Long-Term Debt to Equity	1.07	1.27	1.07	1.02	1.77	3.26	3.14	1.40	1.29	0.78	0.92
Financial Leverage	1.15	1.16	1.01	1.23	2.19	3.13	2.26	1.35	1.07	0.86	0.92
Leverage Ratio	2.73	2.69	2.51	2.88	4.42	5.90	4.83	3.86	3.31	2.89	2.85
Compound Leverage Factor	0.91	1.40	2.08	2.37	1.76	6.15	4.83	3.86	2.50	2.45	2.25
Debt to Total Capital	51.63%	56.77%	51.78%	50.40%	64.14%	76.69%	76.25%	59.06%	58.02%	46.59%	49.75%
Short-Term Debt to Total Capital	0.02%	1.73%	0.02%	0.02%	0.58%	0.74%	1.61%	1.92%	3.71%	4.95%	3.52%
Long-Term Debt to Total Capital	51.61%	55.04%	51.75%	50.38%	63.56%	75.95%	74.64%	57.14%	54.31%	41.64%	46.23%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	48.37%	43.23%	48.22%	49.60%	35.86%	23.31%	23.75%	40.94%	41.98%	53.41%	50.25%
Debt to EBITDA	2.92	3.42	2.26	1.90	3.69	4.28	4.80	3.47	2.47	1.61	2.05
Net Debt to EBITDA	2.81	3.32	2.22	1.80	3.60	4.15	4.60	3.27	2.38	1.52	1.87
Long-Term Debt to EBITDA	2.92	3.32	2.26	1.90	3.66	4.24	4.70	3.36	2.31	1.44	1.91
Debt to NOPAT	19.13	12.68	7.04	5.50	12.24	10.21	16.27	8.19	10.64	6.97	8.61
Net Debt to NOPAT	18.40	12.30	6.92	5.22	11.92	9.90	15.58	7.72	10.26	6.58	7.84
Long-Term Debt to NOPAT	19.12	12.29	7.04	5.50	12.13	10.11	15.92	7.93	9.96	6.23	8.00
Altman Z-Score	1.19	1.14	1.62	1.72	1.18	0.97	0.92	1.37	1.29	1.30	1.15
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.98	0.86	1.36	1.13	0.90	1.01	1.13	1.00	0.85	0.80	0.87
Quick Ratio	0.75	0.67	1.07	0.88	0.64	0.79	0.90	0.77	0.60	0.60	0.66
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	188	-69	-90	-85	-214	-2.15	-760	-89	-67	42	93
Operating Cash Flow to CapEx	187.44%	85.58%	80.91%	120.24%	105.45%	89.66%	108.24%	79.24%	76.59%	115.23%	137.89%
Free Cash Flow to Firm to Interest Expense	2.27	-0.93	-1.92	-1.30	-3.40	-0.03	0.00	0.00	-5.92	3.78	6.66
Operating Cash Flow to Interest Expense	6.44	8.88	10.07	8.94	8.15	5.96	0.00	0.00	17.06	15.58	10.74
Operating Cash Flow Less CapEx to Interest Expense	3.01	-1.50	-2.38	1.50	0.42	-0.69	0.00	0.00	-5.21	2.06	2.95
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.50	0.55	0.60	0.55	0.54	0.55	0.44	0.76	0.67	0.60	0.58
Accounts Receivable Turnover	9.26	8.01	8.07	9.66	9.93	9.35	6.95	11.46	11.37	12.20	12.31
Inventory Turnover	22.21	21.86	20.65	20.94	21.76	21.39	17.47	26.95	26.22	28.64	32.29
Fixed Asset Turnover	0.70	0.79	0.90	0.85	0.85	0.87	0.66	0.99	0.82	0.72	0.70
Accounts Payable Turnover	4.77	5.60	6.02	5.94	5.99	6.05	4.64	7.07	8.20	7.96	8.44
Days Sales Outstanding (DSO)	39.43	45.59	45.24	37.77	36.76	39.04	52.53	31.84	32.10	29.91	29.64
Days Inventory Outstanding (DIO)	16.43	16.70	17.67	17.43	16.77	17.06	20.90	13.54	13.92	12.74	11.30
Days Payable Outstanding (DPO)	76.49	65.21	60.67	61.40	60.90	60.36	78.62	51.61	44.50	45.86	43.25
Cash Conversion Cycle (CCC)	-20.63	-2.93	2.24	-6.20	-7.36	-4.26	-5.19	-6.23	1.52	-3.20	-2.30
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,007	3,112	2,902	2,597	2,268	1,929	1,778	933	774	664	661
Invested Capital Turnover	0.64	0.69	0.74	0.71	0.75	0.78	0.66	1.25	1.07	0.93	0.86
Increase / (Decrease) in Invested Capital	-105	211	305	329	339	150	846	158	110	3.10	-53
Enterprise Value (EV)	2,969	2,893	3,379	3,454	3,358	2,861	2,690	1,905	1,393	949	869
Market Capitalization	1,445	1,149	1,889	2,180	1,868	1,393	1,348	1,368	951	649	556
Book Value per Share	$22.57	$20.97	$19.42	$17.82	$14.36	$7.75	$7.39	$6.69	$5.57	$5.66	$5.35
Tangible Book Value per Share	$15.46	$13.58	$12.65	$11.01	$5.69	($1.13)	($1.67)	$5.93	$4.81	$5.06	$4.75
Total Capital	3,068	3,166	2,929	2,666	2,386	1,975	1,838	965	791	682	692
Total Debt	1,584	1,797	1,516	1,344	1,530	1,515	1,401	570	459	318	344
Total Long-Term Debt	1,583	1,743	1,516	1,343	1,516	1,500	1,372	552	429	284	320
Net Debt	1,523	1,744	1,489	1,274	1,490	1,469	1,342	537	442	300	314
Capital Expenditures (CapEx)	284	764	584	485	486	443	275	297	252	152	109
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-68	-53	85	-29	-55	-28	0.42	-14	-10	-9.33	-21
Debt-free Net Working Capital (DFNWC)	-6.98	0.22	112	41	-16	18	60	18	6.17	8.37	10.00
Net Working Capital (NWC)	-7.64	-54	111	40	-29	3.55	30	-0.17	-23	-25	-14
Net Nonoperating Expense (NNE)	55	81	17	13	93	87	17	51	20	4.33	10
Net Nonoperating Obligations (NNO)	1,523	1,744	1,489	1,274	1,412	1,469	1,342	537	442	300	314
Total Depreciation and Amortization (D&A)	416	364	356	342	310	285	205	171	140	124	102
Debt-free, Cash-free Net Working Capital to Revenue	-3.44%	-2.58%	4.13%	-1.65%	-3.52%	-1.92%	0.05%	-1.34%	-1.32%	-1.51%	-3.49%
Debt-free Net Working Capital to Revenue	-0.36%	0.01%	5.46%	2.35%	-0.99%	1.26%	6.69%	1.72%	0.80%	1.35%	1.70%
Net Working Capital to Revenue	-0.39%	-2.63%	5.43%	2.32%	-1.86%	0.24%	3.37%	-0.02%	-3.01%	-4.10%	-2.43%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.42	$0.88	$2.70	$3.36	$0.54	$1.04	$1.18	$0.31	$0.38	$0.64	$0.46
Adjusted Weighted Average Basic Shares Outstanding	65.03M	68.64M	73.61M	68.85M	59.13M	58.90M	58.77M	58.91M	61.33M	64.24M	64.25M
Adjusted Diluted Earnings per Share	$0.40	$0.82	$2.28	$2.83	$0.54	$0.79	$0.91	$0.31	$0.37	$0.63	$0.46
Adjusted Weighted Average Diluted Shares Outstanding	67.31M	75.56M	88.32M	76.22M	59.93M	69.35M	68.36M	59.69M	62.99M	65.13M	65.21M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	65.89M	65.68M	71.98M	74.22M	59.56M	59.33M	59.14M	59.07M	59.49M	63.89M	64.93M
Normalized Net Operating Profit after Tax (NOPAT)	88	142	215	244	149	149	90	70	43	46	40
Normalized NOPAT Margin	4.49%	6.85%	10.52%	14.08%	9.47%	10.24%	10.11%	6.51%	5.61%	7.36%	6.78%
Pre Tax Income Margin	2.16%	4.07%	12.74%	17.37%	2.64%	4.93%	9.80%	-0.61%	4.48%	10.10%	8.78%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.53	2.20	6.71	5.61	1.65	1.03	0.00	0.00	4.03	6.56	4.71
NOPAT to Interest Expense	1.00	1.92	4.59	3.74	1.99	2.23	0.00	0.00	3.81	4.06	2.87
EBIT Less CapEx to Interest Expense	-1.91	-8.18	-5.74	-1.82	-6.07	-5.61	0.00	0.00	-18.24	-6.96	-3.08
NOPAT Less CapEx to Interest Expense	-2.44	-8.45	-7.86	-3.69	-5.74	-4.42	0.00	0.00	-18.46	-9.47	-4.92
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	257.51%	27.13%	0.00%	0.00%	0.00%	5.17%	60.47%	270.65%	25.10%	0.00%

This table displays calculated financial ratios and metrics derived from Air Transport Services Group's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.05%	-9.92%	-7.73%	-3.11%	-3.00%	1.20%	3.86%	3.14%	-43.79%	0.00%
EBITDA Growth	55.41%	-8.61%	-14.88%	-3.12%	-42.00%	-18.59%	-6.09%	-19.01%	-13.98%	2.54%
EBIT Growth	571.74%	-65.40%	-51.45%	-19.29%	-92.16%	-42.12%	-13.16%	-44.47%	-24.26%	0.81%
NOPAT Growth	-1.50%	-54.84%	-59.37%	-36.42%	-48.73%	-40.16%	-3.43%	-32.68%	-35.43%	-19.57%
Net Income Growth	198.04%	-119.37%	-80.46%	-57.21%	-135.19%	-66.36%	-30.98%	-59.55%	-91.42%	113.16%
EPS Growth	231.25%	-120.83%	-77.55%	-48.00%	-131.37%	-58.62%	-20.97%	-56.14%	-32.89%	-30.95%
Operating Cash Flow Growth	4.49%	15.35%	-28.67%	-41.57%	72.84%	-20.52%	54.33%	72.18%	-52.02%	21.15%
Free Cash Flow Firm Growth	170.41%	109.00%	-2.43%	43.04%	27.55%	20.69%	43.40%	-29.75%	-1.56%	28.24%
Invested Capital Growth	-3.37%	-0.01%	5.38%	5.55%	7.26%	7.33%	6.77%	10.62%	11.76%	10.78%
Revenue Q/Q Growth	9.66%	-3.51%	0.60%	-6.10%	-1.17%	-1.17%	5.64%	-5.99%	3.12%	1.42%
EBITDA Q/Q Growth	25.79%	-6.78%	2.84%	32.65%	-26.03%	-13.18%	17.05%	-19.29%	3.82%	0.15%
EBIT Q/Q Growth	181.12%	-53.50%	-3.19%	851.53%	-85.52%	-34.75%	60.93%	-43.18%	6.89%	-2.11%
NOPAT Q/Q Growth	66.46%	-29.93%	-5.24%	-10.88%	-23.69%	-36.96%	48.29%	-28.13%	-10.94%	1.75%
Net Income Q/Q Growth	542.26%	-144.79%	-13.82%	157.43%	-187.40%	-54.84%	88.78%	-52.78%	-16.44%	-7.35%
EPS Q/Q Growth	520.00%	-145.45%	-15.38%	181.25%	-166.67%	-51.02%	96.00%	-50.98%	-12.07%	-6.45%
Operating Cash Flow Q/Q Growth	-1.34%	-1.13%	8.45%	-1.23%	8.91%	-38.86%	-11.17%	192.21%	-49.92%	18.72%
Free Cash Flow Firm Q/Q Growth	735.22%	111.35%	1.14%	24.89%	-6.73%	-29.25%	45.02%	4.47%	-16.85%	7.77%
Invested Capital Q/Q Growth	-0.67%	-2.78%	1.25%	-1.17%	2.78%	2.46%	1.41%	0.43%	2.86%	1.92%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	46.16%	42.92%	43.41%	41.32%	41.38%	42.90%	45.56%	42.67%	45.35%	45.81%
EBITDA Margin	30.16%	26.29%	27.21%	26.62%	19.40%	25.91%	29.50%	26.62%	32.44%	32.21%
Operating Margin	8.09%	4.60%	6.41%	6.80%	7.09%	8.80%	13.18%	9.46%	13.60%	14.06%
EBIT Margin	8.39%	3.27%	6.79%	7.06%	1.25%	8.52%	12.91%	8.47%	15.45%	14.90%
Profit (Net Income) Margin	2.85%	-0.71%	1.52%	1.78%	-2.90%	3.28%	7.18%	4.02%	8.00%	9.87%
Tax Burden Percent	60.44%	64.09%	69.15%	69.25%	96.26%	73.01%	76.44%	75.81%	69.65%	78.62%
Interest Burden Percent	56.13%	-33.64%	32.37%	36.31%	-241.46%	52.75%	72.79%	62.57%	74.37%	84.28%
Effective Tax Rate	39.56%	0.00%	30.85%	30.75%	0.00%	26.99%	23.56%	24.19%	31.02%	22.70%
Return on Invested Capital (ROIC)	3.13%	2.09%	2.94%	3.23%	3.42%	4.58%	7.32%	5.33%	6.98%	9.96%
ROIC Less NNEP Spread (ROIC-NNEP)	2.49%	0.94%	2.04%	2.34%	0.90%	3.50%	6.26%	4.19%	6.45%	9.59%
Return on Net Nonoperating Assets (RNNOA)	2.85%	1.09%	2.22%	2.67%	1.05%	3.78%	6.29%	4.21%	6.52%	9.84%
Return on Equity (ROE)	5.98%	3.17%	5.16%	5.90%	4.46%	8.36%	13.61%	9.54%	13.50%	19.81%
Cash Return on Invested Capital (CROIC)	6.14%	-4.81%	-2.49%	-1.14%	-2.29%	-1.19%	0.27%	-2.96%	-3.27%	-0.25%
Operating Return on Assets (OROA)	4.24%	1.66%	3.56%	3.82%	0.69%	4.83%	7.45%	5.00%	9.22%	10.87%
Return on Assets (ROA)	1.44%	-0.36%	0.80%	0.96%	-1.61%	1.86%	4.14%	2.37%	4.77%	7.20%
Return on Common Equity (ROCE)	5.98%	3.17%	5.16%	5.90%	4.46%	8.36%	13.61%	9.54%	13.50%	19.81%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-0.16%	1.24%	3.53%	0.00%	8.75%	10.52%	11.95%	0.00%	44.56%
Net Operating Profit after Tax (NOPAT)	25	15	22	23	26	34	53	36	50	56
NOPAT Margin	4.89%	3.22%	4.43%	4.71%	4.96%	6.42%	10.07%	7.17%	9.38%	10.87%
Net Nonoperating Expense Percent (NNEP)	0.65%	1.14%	0.90%	0.89%	2.51%	1.08%	1.07%	1.14%	0.53%	0.38%
Return On Investment Capital (ROIC_SIMPLE)	0.82%	-	-	-	0.81%	-	-	-	1.71%	-
Cost of Revenue to Revenue	53.84%	57.08%	56.59%	58.68%	58.62%	57.10%	54.44%	57.34%	54.65%	54.19%
SG&A Expenses to Revenue	8.24%	8.32%	9.10%	7.25%	8.62%	8.38%	8.41%	7.95%	18.79%	3.89%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	38.07%	38.32%	37.00%	34.52%	34.30%	34.10%	32.39%	33.20%	31.74%	31.75%
Earnings before Interest and Taxes (EBIT)	43	15	33	34	6.46	45	68	42	82	77
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	156	124	133	129	100	136	156	133	173	167
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.97	0.73	0.62	0.65	0.84	1.10	0.94	1.06	1.34	1.22
Price to Tangible Book Value (P/TBV)	1.42	1.07	0.92	1.00	1.30	1.71	1.41	1.62	2.05	1.85
Price to Revenue (P/Rev)	0.74	0.54	0.45	0.44	0.56	0.71	0.65	0.73	0.92	0.73
Price to Earnings (P/E)	52.69	0.00	50.06	18.52	19.05	12.52	8.89	8.88	9.51	2.36
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.90%	0.00%	2.00%	5.40%	5.25%	7.99%	11.24%	11.27%	10.51%	42.39%
Enterprise Value to Invested Capital (EV/IC)	0.99	0.87	0.82	0.84	0.93	1.04	0.97	1.03	1.16	1.12
Enterprise Value to Revenue (EV/Rev)	1.51	1.34	1.27	1.26	1.40	1.51	1.38	1.46	1.65	1.28
Enterprise Value to EBITDA (EV/EBITDA)	5.48	5.45	5.19	5.03	5.51	5.35	4.61	4.75	5.04	4.51
Enterprise Value to EBIT (EV/EBIT)	23.51	31.02	22.51	17.45	17.88	13.72	10.90	10.99	10.74	9.23
Enterprise Value to NOPAT (EV/NOPAT)	35.85	0.00	30.74	20.38	20.41	18.35	14.67	15.17	15.70	11.75
Enterprise Value to Operating Cash Flow (EV/OCF)	5.57	4.98	5.03	4.61	4.42	5.26	4.54	5.33	7.16	5.70
Enterprise Value to Free Cash Flow (EV/FCFF)	15.81	0.00	0.00	0.00	0.00	0.00	368.27	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.07	1.09	1.14	1.24	1.31	1.28	1.08	1.12	1.07	0.96
Long-Term Debt to Equity	1.07	1.09	1.11	1.20	1.27	1.28	1.08	1.12	1.07	0.96
Financial Leverage	1.15	1.15	1.09	1.14	1.16	1.08	1.01	1.00	1.01	1.03
Leverage Ratio	2.73	2.74	2.64	2.72	2.69	2.62	2.53	2.52	2.51	2.55
Compound Leverage Factor	1.53	-0.92	0.86	0.99	-6.49	1.38	1.84	1.58	1.86	2.15
Debt to Total Capital	51.63%	52.21%	53.38%	55.43%	56.77%	56.21%	51.87%	52.93%	51.78%	49.04%
Short-Term Debt to Total Capital	0.02%	0.02%	1.74%	1.77%	1.73%	0.02%	0.02%	0.02%	0.02%	0.02%
Long-Term Debt to Total Capital	51.61%	52.19%	51.63%	53.66%	55.04%	56.19%	51.85%	52.90%	51.75%	49.02%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	48.37%	47.79%	46.62%	44.57%	43.23%	43.79%	48.13%	47.07%	48.22%	50.96%
Debt to EBITDA	2.92	3.33	3.40	3.33	3.42	2.93	2.50	2.52	2.26	2.02
Net Debt to EBITDA	2.81	3.24	3.34	3.28	3.32	2.85	2.43	2.38	2.22	1.94
Long-Term Debt to EBITDA	2.92	3.33	3.29	3.22	3.32	2.93	2.50	2.52	2.26	2.02
Debt to NOPAT	19.13	-10.98	20.14	13.47	12.68	10.06	7.97	8.04	7.04	5.27
Net Debt to NOPAT	18.40	-10.67	19.80	13.29	12.30	9.76	7.75	7.59	6.92	5.06
Long-Term Debt to NOPAT	19.12	-10.97	19.48	13.04	12.29	10.05	7.97	8.04	7.04	5.26
Altman Z-Score	1.12	0.98	0.94	0.96	1.01	1.15	1.17	1.22	1.41	1.51
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.98	0.81	0.74	0.75	0.86	0.92	0.89	1.18	1.36	1.22
Quick Ratio	0.75	0.60	0.55	0.58	0.67	0.70	0.66	0.91	1.07	0.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	130	16	-137	-139	-185	-173	-134	-244	-255	-218
Operating Cash Flow to CapEx	135.86%	346.55%	302.80%	124.64%	66.14%	69.81%	99.31%	103.56%	53.30%	98.22%
Free Cash Flow to Firm to Interest Expense	6.78	0.78	-6.41	-6.32	-8.45	-8.94	-8.04	-15.52	-18.45	-17.95
Operating Cash Flow to Interest Expense	6.96	6.74	6.41	5.75	5.85	6.07	11.53	13.78	5.35	12.15
Operating Cash Flow Less CapEx to Interest Expense	1.84	4.80	4.29	1.14	-2.99	-2.62	-0.08	0.47	-4.69	-0.22
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.50	0.51	0.52	0.54	0.55	0.57	0.58	0.59	0.60	0.73
Accounts Receivable Turnover	9.26	9.54	9.50	9.19	8.01	8.75	8.69	9.29	8.07	11.13
Inventory Turnover	22.21	22.58	21.50	21.84	21.86	21.99	20.54	21.11	20.65	22.81
Fixed Asset Turnover	0.70	0.71	0.73	0.76	0.79	0.82	0.84	0.87	0.90	1.10
Accounts Payable Turnover	4.77	4.35	4.43	5.02	5.60	5.08	4.94	5.59	6.02	7.17
Days Sales Outstanding (DSO)	39.43	38.26	38.42	39.70	45.59	41.69	41.98	39.30	45.24	32.80
Days Inventory Outstanding (DIO)	16.43	16.16	16.98	16.71	16.70	16.60	17.77	17.29	17.67	16.00
Days Payable Outstanding (DPO)	76.49	83.89	82.41	72.71	65.21	71.84	73.95	65.24	60.67	50.88
Cash Conversion Cycle (CCC)	-20.63	-29.46	-27.01	-16.29	-2.93	-13.55	-14.20	-8.65	2.24	-2.08
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,007	3,028	3,114	3,076	3,112	3,028	2,955	2,914	2,902	2,821
Invested Capital Turnover	0.64	0.65	0.66	0.69	0.69	0.71	0.73	0.74	0.74	0.92
Increase / (Decrease) in Invested Capital	-105	-0.41	159	162	211	207	187	280	305	275
Enterprise Value (EV)	2,969	2,624	2,561	2,598	2,893	3,157	2,863	3,000	3,379	3,147
Market Capitalization	1,445	1,065	912	904	1,149	1,477	1,351	1,499	1,889	1,791
Book Value per Share	$22.57	$22.33	$22.30	$21.03	$20.97	$19.05	$20.16	$19.64	$19.42	$19.71
Tangible Book Value per Share	$15.46	$15.13	$15.03	$13.73	$13.58	$12.20	$13.35	$12.84	$12.65	$13.05
Total Capital	3,068	3,073	3,143	3,099	3,166	3,079	2,999	3,004	2,929	2,876
Total Debt	1,584	1,604	1,678	1,718	1,797	1,731	1,555	1,590	1,516	1,410
Total Long-Term Debt	1,583	1,604	1,623	1,663	1,743	1,730	1,555	1,589	1,516	1,410
Net Debt	1,523	1,559	1,649	1,695	1,744	1,680	1,512	1,500	1,489	1,356
Capital Expenditures (CapEx)	98	39	45	101	194	168	194	209	139	151
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-68	-115	-87	-73	-53	-80	-84	-28	85	15
Debt-free Net Working Capital (DFNWC)	-6.98	-70	-58	-50	0.22	-29	-41	62	112	70
Net Working Capital (NWC)	-7.64	-71	-113	-104	-54	-30	-42	61	111	69
Net Nonoperating Expense (NNE)	11	19	14	14	41	16	15	16	7.37	5.13
Net Nonoperating Obligations (NNO)	1,523	1,559	1,649	1,695	1,744	1,680	1,512	1,500	1,489	1,356
Total Depreciation and Amortization (D&A)	112	108	100	95	94	91	88	91	91	89
Debt-free, Cash-free Net Working Capital to Revenue	-3.44%	-5.86%	-4.33%	-3.54%	-2.58%	-3.82%	-4.06%	-1.35%	4.13%	0.63%
Debt-free Net Working Capital to Revenue	-0.36%	-3.58%	-2.90%	-2.41%	0.01%	-1.40%	-1.99%	3.00%	5.46%	2.84%
Net Working Capital to Revenue	-0.39%	-3.61%	-5.63%	-5.08%	-2.63%	-1.43%	-2.02%	2.97%	5.43%	2.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.23	($0.05)	$0.11	$0.13	($0.20)	$0.26	$0.54	$0.28	$0.60	$0.69
Adjusted Weighted Average Basic Shares Outstanding	65.03M	65.04M	65.03M	64.97M	68.64M	67.25M	70.72M	71.80M	73.61M	74.00M
Adjusted Diluted Earnings per Share	$0.21	($0.05)	$0.11	$0.13	($0.16)	$0.24	$0.49	$0.25	$0.51	$0.58
Adjusted Weighted Average Diluted Shares Outstanding	67.31M	65.04M	67.30M	67.24M	75.56M	72.67M	79.52M	83.06M	88.32M	88.75M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	65.89M	65.76M	65.76M	65.72M	65.68M	65.27M	70.76M	71.58M	71.98M	72.73M
Normalized Net Operating Profit after Tax (NOPAT)	25	15	22	23	26	34	53	36	50	56
Normalized NOPAT Margin	4.89%	3.22%	4.43%	4.71%	4.96%	6.42%	10.07%	7.17%	9.38%	10.87%
Pre Tax Income Margin	4.71%	-1.10%	2.20%	2.56%	-3.02%	4.50%	9.40%	5.30%	11.49%	12.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.26	0.77	1.55	1.56	0.30	2.30	4.10	2.70	5.95	6.33
NOPAT to Interest Expense	1.32	0.75	1.01	1.04	1.17	1.73	3.20	2.29	3.62	4.62
EBIT Less CapEx to Interest Expense	-2.87	-1.18	-0.57	-3.05	-8.55	-6.39	-7.51	-10.60	-4.09	-6.04
NOPAT Less CapEx to Interest Expense	-3.81	-1.19	-1.10	-3.57	-7.67	-6.95	-8.41	-11.02	-6.43	-7.76
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	650.57%	273.40%	257.51%	177.32%	59.76%	44.86%	27.13%	0.00%

Frequently Asked Questions About Air Transport Services Group's Financials

When does Air Transport Services Group's financial year end?

According to the most recent income statement we have on file, Air Transport Services Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Air Transport Services Group's net income changed over the last 10 years?

Air Transport Services Group's net income appears to be on an upward trend, with a most recent value of $27.43 million in 2024, falling from $29.86 million in 2014. The previous period was $60.33 million in 2023. See where experts think Air Transport Services Group is headed by visiting Air Transport Services Group's forecast page.

What is Air Transport Services Group's operating income?

Air Transport Services Group's total operating income in 2024 was $127.80 million, based on the following breakdown:

Total Gross Profit: $853.45 million
Total Operating Expenses: $725.65 million

How has Air Transport Services Group revenue changed over the last 10 years?

Over the last 10 years, Air Transport Services Group's total revenue changed from $589.59 million in 2014 to $1.96 billion in 2024, a change of 232.8%.

How much debt does Air Transport Services Group have?

Air Transport Services Group's total liabilities were at $2.41 billion at the end of 2024, a 4.1% decrease from 2023, and a 262.7% increase since 2014.

How much cash does Air Transport Services Group have?

In the past 10 years, Air Transport Services Group's cash and equivalents has ranged from $16.36 million in 2016 to $69.50 million in 2021, and is currently $60.58 million as of their latest financial filing in 2024.

How has Air Transport Services Group's book value per share changed over the last 10 years?

Over the last 10 years, Air Transport Services Group's book value per share changed from 5.35 in 2014 to 22.57 in 2024, a change of 321.7%.

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This page (NASDAQ:ATSG) was last updated on 5/25/2025 by MarketBeat.com Staff

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Air Transport Services Group (ATSG) Financials

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