AAR (AIR) Financials

$59.80 -0.29 (-0.48%)

Closing price 05/23/2025 03:59 PM Eastern

Extended Trading

$59.76 -0.04 (-0.07%)

As of 05/23/2025 05:16 PM Eastern

Annual Income Statements for AAR

This table shows AAR'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	5/31/2024	5/31/2023	5/31/2022	5/31/2021	5/31/2020	5/31/2019	5/31/2018	5/31/2017	5/31/2016	5/31/2015	5/31/2014
Net Income / (Loss) Attributable to Common Shareholders	46	90	79	36	4.40	7.50	16	57	48	10	73
Consolidated Net Income / (Loss)	46	90	79	36	4.40	7.50	16	57	48	10	73
Net Income / (Loss) Continuing Operations	46	90	79	46	25	84	74	52	46	-74	67
Total Pre-Tax Income	58	121	105	65	30	89	77	77	69	-113	99
Total Operating Income	103	137	110	85	43	99	86	82	75	-42	126
Total Gross Profit	442	368	313	267	264	314	294	261	233	131	289
Total Revenue	2,319	1,991	1,820	1,652	2,072	2,052	1,748	1,591	1,525	1,621	1,709
Operating Revenue	2,319	1,991	1,820	1,652	2,072	2,052	1,748	1,591	1,525	1,621	1,709
Total Cost of Revenue	1,877	1,623	1,508	1,385	1,808	1,738	1,455	1,330	1,292	1,491	1,420
Operating Cost of Revenue	1,877	1,620	1,507	1,376	1,803	1,722	1,454	1,327	1,292	1,491	1,420
Other Cost of Revenue	0.70	2.60	1.20	8.50	5.40	16	0.50	2.10	-	-	-
Total Operating Expenses	339	230	204	182	221	215	208	179	158	172	163
Selling, General & Admin Expense	312	230	202	182	221	215	208	179	158	172	166
Other Operating Expenses / (Income)	27	0.00	1.40	-	-	-	-	-	-	-	-3.00
Total Other Income / (Expense), net	-44	-16	-4.70	-21	-13	-9.60	-8.30	-5.20	-6.20	-72	-27
Interest Expense	43	12	2.40	5.00	9.30	9.50	8.00	5.30	6.40	72	28
Interest & Investment Income	2.00	-2.20	-2.80	0.40	-1.40	0.70	0.60	0.10	0.20	0.50	1.50
Other Income / (Expense), net	-3.20	-1.50	0.50	-16	-2.10	-0.80	-0.90	-	-	-	-
Income Tax Expense	12	31	27	18	5.60	4.90	3.50	25	23	-39	32
Net Income / (Loss) Discontinued Operations	0.00	0.40	0.20	-11	-20	-77	-58	4.50	2.20	-	5.70
Basic Earnings per Share	$1.30	$2.56	$2.20	$1.01	$0.12	$0.20	$0.44	$1.66	$1.37	$0.26	$1.85
Weighted Average Basic Shares Outstanding	35.71M	34.93M	35.42M	35.40M	35.16M	37.50M	35.50M	33.90M	34.40M	39.10M	38.60M
Diluted Earnings per Share	$1.29	$2.53	$2.17	$1.00	$0.13	$0.21	$0.41	$1.64	$1.37	$0.24	$1.83
Weighted Average Diluted Shares Outstanding	35.71M	34.93M	35.42M	35.40M	35.16M	37.50M	35.50M	33.90M	34.40M	39.10M	38.60M
Weighted Average Basic & Diluted Shares Outstanding	35.71M	34.93M	35.42M	35.40M	35.16M	37.50M	35.50M	33.90M	34.40M	39.10M	38.60M

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

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Net Income / (Loss) Attributable to Common Shareholders	-8.90	-31	18	9.10	14	24	-0.60	23	22	23	23
Consolidated Net Income / (Loss)	-8.90	-31	18	9.10	14	24	-0.60	23	22	23	23
Net Income / (Loss) Continuing Operations	-8.90	-31	18	9.10	14	24	-0.60	23	22	23	22
Total Pre-Tax Income	-11	-23	25	14	21	32	-7.50	30	30	31	30
Total Operating Income	71	-4.20	41	32	33	38	-0.50	37	36	33	32
Total Gross Profit	132	129	117	127	110	103	101	106	94	86	82
Total Revenue	678	686	662	657	567	545	550	553	521	470	446
Operating Revenue	678	686	662	657	567	545	550	553	521	470	446
Total Cost of Revenue	546	557	545	529	457	442	449	446	429	384	364
Operating Cost of Revenue	547	558	545	529	457	442	448	445	427	384	364
Other Cost of Revenue	-0.20	-0.30	0.20	0.20	0.10	0.00	0.40	0.80	1.90	-0.10	0.00
Total Operating Expenses	61	133	76	95	77	66	101	71	57	53	50
Selling, General & Admin Expense	61	133	76	95	77	66	75	71	57	53	50
Other Operating Expenses / (Income)	0.00	0.00	0.00	-	0.00	0.00	27	-	0.00	0.00	0.00
Total Other Income / (Expense), net	-82	-18	-16	-19	-13	-6.00	-7.00	-6.30	-5.90	-2.30	-1.40
Interest Expense	19	19	19	19	12	6.20	5.80	5.20	3.80	2.10	1.10
Interest & Investment Income	0.90	2.40	2.80	0.90	0.40	1.20	-0.50	0.30	-1.40	-0.60	-0.50
Other Income / (Expense), net	-64	-1.40	-0.20	-0.30	-1.20	-1.00	-0.70	-1.40	-0.70	0.40	0.20
Income Tax Expense	-2.20	8.10	6.90	4.50	6.50	7.90	-6.90	7.00	8.00	8.30	8.10
Basic Earnings per Share	($0.25)	($0.87)	$0.50	$0.25	$0.40	$0.67	($0.02)	$0.64	$0.63	$0.65	$0.64
Weighted Average Basic Shares Outstanding	35.40M	35.91M	35.91M	35.71M	34.80M	35.50M	35.29M	34.93M	34.71M	34.46M	35.08M
Diluted Earnings per Share	($0.25)	($0.87)	$0.50	$0.25	$0.39	$0.67	($0.02)	$0.64	$0.62	$0.64	$0.63
Weighted Average Diluted Shares Outstanding	35.40M	35.91M	35.91M	35.71M	35.20M	35.50M	35.29M	34.93M	34.71M	34.46M	35.08M
Weighted Average Basic & Diluted Shares Outstanding	36.10M	35.91M	35.91M	35.71M	35.43M	35.50M	35.29M	34.93M	34.71M	34.46M	35.08M

This table details how cash moves in and out of AAR'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	5/31/2024	5/31/2023	5/31/2022	5/31/2021	5/31/2020	5/31/2019	5/31/2018	5/31/2017	5/31/2016	5/31/2015	5/31/2014
Net Change in Cash & Equivalents	14	23	-1.30	-365	384	-41	31	-21	-24	-35	14
Net Cash From Operating Activities	44	23	75	105	-36	67	64	22	32	-43	140
Net Cash From Continuing Operating Activities	44	24	90	109	-19	61	56	-14	46	86	166
Net Income / (Loss) Continuing Operations	46	90	79	46	25	84	74	52	46	-74	67
Consolidated Net Income / (Loss)	46	90	79	36	4.40	7.50	16	57	48	10	73
Net Income / (Loss) Discontinued Operations	0.00	0.40	0.20	-11	-20	-77	-58	4.50	2.20	84	6.00
Depreciation Expense	41	28	33	36	44	43	41	36	33	58	65
Non-Cash Adjustments To Reconcile Net Income	26	6.60	15	33	43	9.00	-40	-75	-0.90	118	-44
Changes in Operating Assets and Liabilities, net	-70	-101	-37	-6.70	-131	-75	-19	-26	-32	-39	45
Net Cash From Discontinued Operating Activities	-0.20	-0.50	-15	-3.30	-17	6.90	8.50	35	-14	-129	-27
Net Cash From Investing Activities	-759	-138	-17	-0.50	-25	-38	-43	-30	-17	689	-41
Net Cash From Continuing Investing Activities	-759	-138	-17	-0.50	-25	-38	-39	-34	-44	7.20	-20
Purchase of Property, Plant & Equipment	-30	-30	-17	-11	-24	-	-22	-25	-40	-42	-21
Acquisitions	-723	-103	0.00	0.00	-	-	-23	-13	-4.80	-1.00	-
Sale of Property, Plant & Equipment	0.00	0.00	7.30	0.00	0.00	17	8.60	6.50	0.10	47	2.00
Other Investing Activities, net	-5.90	-5.20	-6.50	11	-1.20	-18	-2.30	-2.70	1.00	3.50	-1.10
Net Cash From Financing Activities	729	138	-60	-470	445	-71	10	-12	-38	-678	-86
Net Cash From Continuing Financing Activities	729	138	-60	-470	445	-71	12	-10	-38	-678	-86
Repayment of Debt	175	172	-34	-0.10	-1.30	-10	-1.30	-10	-71	-520	-
Repurchase of Common Equity	-15	-52	-42	0.00	-4.10	-	-13	-20	-19	-152	-1.00
Issuance of Debt	550	0.00	0.00	-470	460	-	25	21	60	6.30	16
Other Financing Activities, net	20	18	17	0.60	1.10	-40	12	8.50	1.80	-	-89
Effect of Exchange Rate Changes	0.00	-0.10	-0.20	0.30	0.00	-	-0.10	-0.50	-0.30	-2.60	0.90

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

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Net Change in Cash & Equivalents	18	19	-33	13	8.10	-15	8.40	28	2.90	2.80	-11
Net Cash From Operating Activities	-19	22	-19	25	20	17	-19	45	17	-46	6.80
Net Cash From Continuing Operating Activities	-19	22	-19	25	20	17	-19	45	17	-46	7.00
Net Income / (Loss) Continuing Operations	-8.90	-31	18	9.10	14	24	-0.60	23	22	23	22
Consolidated Net Income / (Loss)	-8.90	-31	18	9.10	14	24	-0.60	23	22	23	23
Depreciation Expense	13	15	14	15	8.40	8.70	8.40	7.70	6.90	6.50	6.80
Non-Cash Adjustments To Reconcile Net Income	57	0.10	-22	9.90	17	2.90	20	8.00	-0.20	8.30	-9.50
Changes in Operating Assets and Liabilities, net	-82	38	-29	-9.80	-19	-18	-46	6.40	-11	-83	-13
Net Cash From Investing Activities	-3.70	-7.90	-5.30	-732	-6.50	-8.70	-12	-111	-9.00	-7.60	-11
Net Cash From Continuing Investing Activities	-3.70	-7.90	-5.30	-732	-6.50	-8.70	-12	-111	-9.00	-7.60	-11
Purchase of Property, Plant & Equipment	-8.50	-8.30	-7.90	-7.50	-5.80	-7.30	-9.10	-7.00	-9.70	-6.10	-6.70
Other Investing Activities, net	4.80	0.40	-0.30	-1.30	-0.70	-1.40	-2.50	-0.40	0.70	-1.50	-4.00
Net Cash From Financing Activities	41	5.30	-9.10	720	-5.80	-23	39	93	-5.50	57	-6.50
Net Cash From Continuing Financing Activities	41	5.30	-9.10	720	-5.80	-23	39	93	-5.50	57	-6.50
Issuance of Debt	35	-	-	545	-	-	-	-88	-	-	-
Other Financing Activities, net	5.90	0.30	-4.10	9.20	0.10	6.60	3.70	9.20	6.40	1.70	0.40

This table presents AAR'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	5/31/2024	5/31/2023	5/31/2022	5/31/2021	5/31/2020	5/31/2019	5/31/2018	5/31/2017	5/31/2016	5/31/2015	5/31/2014
Total Assets	2,770	1,833	1,574	1,540	2,079	1,517	1,525	1,504	1,456	1,454	2,194
Total Current Assets	1,390	1,098	1,007	937	1,439	953	943	888	882	896	1,111
Cash & Equivalents	86	68	54	52	405	21	31	10	31	55	89
Restricted Cash	10	13	5.40	8.40	20	20	11	-	-	-	-
Accounts Receivable	287	241	214	167	172	198	202	235	248	229	283
Inventories, net	733	574	551	541	623	524	461	433	452	456	495
Prepaid Expenses	46	50	40	28	77	-	-	-	-	-	-
Other Current Assets	205	138	127	122	119	161	113	90	150	139	219
Other Current Nonoperating Assets	23	14	16	20	23	29	125	120	-	17	-
Plant, Property, & Equipment, net	172	126	110	120	136	133	133	117	238	215	315
Total Noncurrent Assets	1,209	609	457	483	505	432	449	499	336	344	768
Noncurrent Note & Lease Receivables	166	178	167	184	212	-	183	160	81	80	98
Goodwill	555	176	116	124	122	116	119	106	117	124	262
Intangible Assets	235	64	3.30	-	-	22	28	31	36	37	165
Other Noncurrent Operating Assets	252	192	171	175	171	294	119	105	102	83	212
Total Liabilities & Shareholders' Equity	2,770	1,833	1,574	1,540	2,079	1,517	1,525	1,504	1,456	1,454	2,194
Total Liabilities	1,580	734	539	565	1,176	611	588	590	590	609	1,193
Total Current Liabilities	467	352	348	337	383	358	333	335	341	412	402
Accounts Payable	238	159	156	127	192	188	170	164	166	142	171
Accrued Expenses	219	180	175	174	162	141	138	140	163	201	161
Other Current Nonoperating Liabilities	9.60	13	17	35	30	29	25	31	-	-	-
Total Noncurrent Liabilities	1,113	383	191	229	793	254	255	255	249	197	791
Long-Term Debt	985	270	99	134	600	142	177	154	136	82	564
Noncurrent Deferred & Payable Income Tax Liabilities	24	34	20	9.50	-	-	16	101	113	115	227
Other Noncurrent Operating Liabilities	104	79	72	85	105	28	26	-	-	-	-
Total Equity & Noncontrolling Interests	1,190	1,099	1,035	974	903	906	936	914	866	845	1,001
Total Preferred & Common Equity	1,190	1,099	1,035	974	903	906	936	914	866	845	1,000
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	1,190	1,099	1,035	974	903	906	936	914	866	845	1,000
Common Stock	539	530	523	525	524	525	516	506	496	488	481
Retained Earnings	957	911	820	742	706	710	733	728	682	644	646
Treasury Stock	-298	-318	-289	-274	-283	-288	-281	-280	-268	-246	-98
Accumulated Other Comprehensive Income / (Loss)	-8.80	-24	-20	-18	-45	-41	-32	-40	-44	-40	-29

This table presents AAR'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 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	2/28/2025	11/30/2024	8/31/2024	2/29/2024	11/30/2023	8/31/2023	2/28/2023	11/30/2022	8/31/2022	2/28/2022
Total Assets	2,859	2,849	2,783	2,022	1,966	1,954	1,673	1,647	1,599	1,552
Total Current Assets	1,535	1,498	1,427	1,241	1,194	1,207	1,068	1,060	1,035	977
Cash & Equivalents	84	62	49	69	65	70	53	49	44	41
Restricted Cash	17	21	14	14	10	20	1.40	2.20	4.10	2.40
Accounts Receivable	313	320	311	257	246	281	238	225	221	209
Inventories, net	776	790	748	672	646	614	571	595	576	535
Prepaid Expenses	75	81	77	57	61	59	-	-	34	-
Other Current Assets	183	216	218	161	154	151	191	174	140	173
Other Current Nonoperating Assets	88	8.00	9.00	11	12	13	14	15	16	17
Plant, Property, & Equipment, net	153	167	162	134	133	131	120	114	111	107
Total Noncurrent Assets	1,171	1,184	1,195	647	639	616	486	473	452	468
Noncurrent Note & Lease Receivables	263	174	171	267	177	177	174	171	168	244
Goodwill	528	543	553	179	176	177	118	118	118	121
Intangible Assets	224	227	231	60	62	63	-	-	-	-
Other Noncurrent Operating Assets	156	240	240	140	224	199	194	184	167	103
Total Liabilities & Shareholders' Equity	2,859	2,849	2,783	2,022	1,966	1,954	1,673	1,647	1,599	1,552
Total Liabilities	1,677	1,668	1,573	854	810	833	606	612	562	534
Total Current Liabilities	545	558	467	428	380	394	332	324	358	343
Accounts Payable	279	292	258	230	210	222	159	157	195	141
Accrued Expenses	237	259	201	187	159	159	159	152	147	157
Other Current Nonoperating Liabilities	30	7.70	8.60	11	11	12	14	15	16	18
Total Noncurrent Liabilities	1,131	1,109	1,106	426	430	439	274	288	205	191
Long-Term Debt	1,022	987	981	275	275	305	186	197	114	103
Noncurrent Deferred & Payable Income Tax Liabilities	25	24	24	37	40	40	14	20	20	-
Other Noncurrent Operating Liabilities	84	99	101	114	115	95	74	71	70	88
Total Equity & Noncontrolling Interests	1,183	1,182	1,210	1,168	1,156	1,122	2,157	1,035	1,037	1,018
Total Preferred & Common Equity	1,183	1,182	1,210	1,168	1,156	1,122	2,157	1,035	1,037	1,018
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,183	1,182	1,210	1,168	1,156	1,122	2,157	1,035	1,037	1,018
Common Stock	546	541	536	535	531	527	527	524	522	527
Retained Earnings	935	944	975	948	934	910	887	866	843	797
Treasury Stock	-287	-293	-293	-306	-301	-307	-324	-332	-306	-285
Accumulated Other Comprehensive Income / (Loss)	-12	-11	-7.30	-8.70	-8.50	-8.10	1,068	-23	-23	-20

This table displays calculated financial ratios and metrics derived from AAR's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	5/31/2024	5/31/2023	5/31/2022	5/31/2021	5/31/2020	5/31/2019	5/31/2018	5/31/2017	5/31/2016	5/31/2015	5/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.50%	9.37%	10.15%	-20.26%	0.98%	17.36%	9.90%	4.29%	-5.92%	-5.13%	-5.46%
EBITDA Growth	-13.95%	14.18%	35.86%	24.29%	-39.69%	12.39%	6.02%	8.96%	173.48%	-82.27%	1.32%
EBIT Growth	-26.62%	23.16%	59.33%	68.13%	-57.98%	15.60%	2.79%	9.59%	280.53%	-133.12%	22.90%
NOPAT Growth	-19.71%	24.09%	34.16%	73.13%	-62.18%	14.15%	47.05%	11.92%	270.31%	-134.09%	27.10%
Net Income Growth	-48.67%	14.61%	119.83%	713.64%	-41.33%	-51.92%	-72.39%	18.45%	367.65%	-86.01%	32.55%
EPS Growth	-49.01%	16.59%	117.00%	669.23%	-38.10%	-48.78%	-75.00%	19.71%	470.83%	-86.89%	32.61%
Operating Cash Flow Growth	87.12%	-69.02%	-28.52%	391.41%	-153.56%	4.82%	194.95%	-32.09%	174.65%	-130.76%	-14.18%
Free Cash Flow Firm Growth	-546.83%	-256.52%	-14.56%	290.27%	-173.68%	399.20%	-111.69%	681.51%	-104.95%	540.97%	4.62%
Invested Capital Growth	61.54%	19.66%	1.10%	-1.94%	7.79%	3.56%	11.62%	-11.40%	8.67%	-40.33%	-0.36%
Revenue Q/Q Growth	4.66%	4.03%	221.10%	-41.94%	-6.59%	4.55%	7.27%	3.91%	-8.83%	13.18%	1.77%
EBITDA Q/Q Growth	3.15%	2.00%	1,975.36%	-46.88%	-34.31%	7.33%	-0.95%	6.31%	438.81%	-72.03%	-0.45%
EBIT Q/Q Growth	-3.21%	2.34%	496.04%	-56.92%	-51.53%	7.95%	-0.94%	-7.94%	231.52%	-151.49%	25.35%
NOPAT Q/Q Growth	-5.56%	2.62%	1,363.14%	-39.51%	-52.86%	11.10%	4.45%	-4.85%	224.08%	-154.65%	24.41%
Net Income Q/Q Growth	-23.34%	-0.77%	14.39%	575.47%	-89.93%	334.38%	-36.84%	19.45%	-6.10%	-15.70%	29.72%
EPS Q/Q Growth	-23.21%	0.00%	0.00%	0.00%	-89.60%	261.54%	-41.43%	18.84%	-2.84%	-14.29%	27.97%
Operating Cash Flow Q/Q Growth	-32.19%	28.02%	30.33%	89.89%	-206.18%	20.57%	-2.43%	-37.36%	148.71%	-159.64%	-7.91%
Free Cash Flow Firm Q/Q Growth	-869.96%	-420.26%	260.26%	-42.85%	-404.67%	51.48%	-114.73%	22,646.89%	-1,117.87%	-1.61%	20.19%
Invested Capital Q/Q Growth	52.99%	7.31%	-0.33%	2.11%	0.03%	-1.71%	-0.70%	-15.76%	0.69%	-11.24%	-2.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	19.04%	18.46%	17.21%	16.18%	12.73%	15.30%	16.79%	16.43%	15.28%	8.07%	16.90%
EBITDA Margin	6.07%	8.21%	7.87%	6.38%	4.09%	6.85%	7.16%	7.42%	7.10%	2.44%	13.07%
Operating Margin	4.43%	6.89%	6.02%	5.14%	2.08%	4.81%	4.89%	5.17%	4.92%	-2.57%	7.35%
EBIT Margin	4.29%	6.81%	6.05%	4.18%	1.98%	4.77%	4.84%	5.17%	4.92%	-2.57%	7.35%
Profit (Net Income) Margin	2.00%	4.53%	4.32%	2.17%	0.21%	0.37%	0.89%	3.55%	3.13%	0.63%	4.27%
Tax Burden Percent	79.42%	74.42%	74.88%	55.50%	14.47%	8.43%	20.21%	73.28%	69.23%	-9.01%	73.79%
Interest Burden Percent	58.59%	89.38%	95.46%	93.34%	73.97%	91.00%	91.25%	93.68%	91.74%	272.12%	78.66%
Effective Tax Rate	20.58%	25.91%	25.31%	28.22%	18.42%	5.51%	4.53%	32.56%	33.96%	0.00%	31.98%
Return on Invested Capital (ROIC)	4.85%	8.60%	7.65%	5.68%	3.37%	9.42%	8.86%	5.99%	5.26%	-2.41%	5.63%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.70%	-1.35%	2.80%	-12.88%	-18.43%	-116.38%	1,680.35%	8.70%	3.11%	11.29%	3.38%
Return on Net Nonoperating Assets (RNNOA)	-0.80%	-0.14%	0.18%	-1.86%	-2.88%	-8.60%	-7.17%	0.36%	0.32%	3.51%	1.97%
Return on Equity (ROE)	4.05%	8.46%	7.84%	3.81%	0.49%	0.81%	1.69%	6.35%	5.58%	1.11%	7.59%
Cash Return on Invested Capital (CROIC)	-42.21%	-9.30%	6.56%	7.64%	-4.13%	5.92%	-2.12%	18.08%	-3.05%	48.12%	5.98%
Operating Return on Assets (OROA)	4.32%	7.96%	7.07%	3.82%	2.29%	6.43%	5.59%	5.56%	5.16%	-2.28%	5.80%
Return on Assets (ROA)	2.01%	5.30%	5.06%	1.98%	0.24%	0.49%	1.03%	3.82%	3.28%	0.56%	3.37%
Return on Common Equity (ROCE)	4.05%	8.46%	7.84%	3.81%	0.49%	0.81%	1.69%	6.35%	5.58%	1.10%	7.58%
Return on Equity Simple (ROE_SIMPLE)	3.89%	8.21%	7.61%	3.67%	0.49%	0.83%	1.67%	6.18%	5.51%	1.21%	7.29%
Net Operating Profit after Tax (NOPAT)	82	102	82	61	35	93	82	56	50	-29	85
NOPAT Margin	3.52%	5.10%	4.50%	3.69%	1.70%	4.54%	4.67%	3.49%	3.25%	-1.80%	5.00%
Net Nonoperating Expense Percent (NNEP)	6.55%	9.95%	4.85%	18.56%	21.80%	125.80%	-1,671.49%	-2.71%	2.15%	-13.70%	2.24%
Cost of Revenue to Revenue	80.96%	81.54%	82.86%	83.82%	87.27%	84.70%	83.21%	83.57%	84.72%	91.93%	83.10%
SG&A Expenses to Revenue	13.46%	11.58%	11.11%	11.04%	10.65%	10.50%	11.90%	11.25%	10.36%	10.63%	9.73%
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	14.61%	11.58%	11.19%	11.04%	10.65%	10.50%	11.90%	11.25%	10.36%	10.63%	9.55%
Earnings before Interest and Taxes (EBIT)	100	136	110	69	41	98	85	82	75	-42	126
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	141	164	143	105	85	141	125	118	108	40	223
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.11	1.58	1.64	1.51	0.78	1.15	1.63	1.28	0.95	1.33	0.91
Price to Tangible Book Value (P/TBV)	6.29	2.02	1.86	1.73	0.91	1.36	1.93	1.50	1.15	1.64	1.59
Price to Revenue (P/Rev)	1.08	0.87	0.93	0.89	0.34	0.51	0.87	0.74	0.54	0.69	0.53
Price to Earnings (P/E)	54.32	19.28	21.57	41.19	160.90	139.41	97.59	20.72	17.19	110.06	12.50
Dividend Yield	0.00%	0.00%	0.00%	0.00%	1.86%	1.01%	0.68%	0.88%	1.27%	1.06%	1.31%
Earnings Yield	1.84%	5.19%	4.64%	2.43%	0.62%	0.72%	1.02%	4.83%	5.82%	0.91%	8.00%
Enterprise Value to Invested Capital (EV/IC)	1.64	1.50	1.62	1.46	0.81	1.14	1.71	1.51	0.95	1.33	0.94
Enterprise Value to Revenue (EV/Rev)	1.47	0.97	0.95	0.94	0.43	0.56	0.95	0.83	0.61	0.74	0.83
Enterprise Value to EBITDA (EV/EBITDA)	24.20	11.79	12.13	14.69	10.42	8.15	13.25	11.14	8.65	30.27	6.38
Enterprise Value to EBIT (EV/EBIT)	34.21	14.21	15.78	22.40	21.49	11.72	19.60	15.97	12.47	0.00	11.34
Enterprise Value to NOPAT (EV/NOPAT)	41.74	18.97	21.22	25.37	25.06	12.30	20.31	23.68	18.89	0.00	16.67
Enterprise Value to Operating Cash Flow (EV/OCF)	78.08	82.71	23.10	14.72	0.00	17.01	25.79	60.30	29.18	0.00	10.18
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	24.76	18.85	0.00	19.57	0.00	7.85	0.00	2.06	15.68
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.83	0.25	0.10	0.14	0.66	0.16	0.19	0.17	0.17	0.18	0.63
Long-Term Debt to Equity	0.83	0.25	0.10	0.14	0.66	0.16	0.19	0.17	0.16	0.10	0.56
Financial Leverage	0.47	0.11	0.06	0.14	0.16	0.07	0.00	0.04	0.10	0.31	0.58
Leverage Ratio	2.01	1.60	1.55	1.93	1.99	1.65	1.64	1.66	1.70	1.98	2.26
Compound Leverage Factor	1.18	1.43	1.48	1.80	1.47	1.50	1.49	1.56	1.56	5.38	1.77
Debt to Total Capital	45.30%	19.70%	8.73%	12.07%	39.93%	13.53%	15.91%	14.43%	14.61%	15.19%	38.78%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	1.18%	6.92%	4.26%
Long-Term Debt to Total Capital	45.30%	19.70%	8.73%	12.07%	39.93%	13.53%	15.91%	14.42%	13.42%	8.27%	34.52%
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%	0.07%
Common Equity to Total Capital	54.70%	80.30%	91.27%	87.93%	60.07%	86.47%	84.09%	85.57%	85.39%	84.81%	61.14%
Debt to EBITDA	7.00	1.65	0.69	1.27	7.08	1.01	1.42	1.31	1.37	3.82	2.84
Net Debt to EBITDA	6.32	1.15	0.28	0.70	2.07	0.72	1.08	1.22	1.08	1.92	2.31
Long-Term Debt to EBITDA	7.00	1.65	0.69	1.27	7.08	1.01	1.42	1.31	1.26	2.08	2.53
Debt to NOPAT	12.08	2.66	1.21	2.19	17.03	1.52	2.17	2.78	2.99	-5.20	7.42
Net Debt to NOPAT	10.90	1.85	0.49	1.20	4.97	1.08	1.66	2.59	2.36	-2.62	6.03
Long-Term Debt to NOPAT	12.08	2.66	1.21	2.19	17.03	1.52	2.17	2.78	2.74	-2.83	6.61
Altman Z-Score	2.79	3.94	4.51	3.93	2.51	3.72	4.04	3.55	3.15	3.15	2.22
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.11%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.98	3.12	2.89	2.78	3.76	2.66	2.83	2.65	2.58	2.17	2.76
Quick Ratio	0.80	0.88	0.77	0.65	1.51	0.61	0.70	0.73	0.82	0.69	0.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-710	-110	70	82	-43	59	-20	168	-29	582	91
Operating Cash Flow to CapEx	146.80%	78.98%	752.00%	930.97%	-152.97%	0.00%	479.85%	116.58%	80.25%	0.00%	743.62%
Free Cash Flow to Firm to Interest Expense	-16.44	-9.00	29.23	16.42	-4.64	6.17	-2.45	31.61	-4.50	8.07	3.21
Operating Cash Flow to Interest Expense	1.01	1.91	31.33	21.04	-3.88	7.09	8.04	4.11	5.02	-0.60	4.94
Operating Cash Flow Less CapEx to Interest Expense	0.32	-0.51	27.17	18.78	-6.42	8.93	6.36	0.58	-1.23	-0.53	4.28
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.01	1.17	1.17	0.91	1.15	1.35	1.15	1.07	1.05	0.89	0.79
Accounts Receivable Turnover	8.78	8.74	9.56	9.76	11.21	10.26	8.01	6.59	6.39	6.33	5.89
Inventory Turnover	2.87	2.89	2.76	2.38	3.15	3.53	3.25	3.00	2.85	3.13	2.99
Fixed Asset Turnover	15.57	16.89	15.85	12.92	15.43	15.43	13.96	8.95	6.74	6.12	5.05
Accounts Payable Turnover	9.47	10.31	10.63	8.69	9.53	9.71	8.71	8.05	8.38	9.51	8.87
Days Sales Outstanding (DSO)	41.59	41.74	38.17	37.40	32.56	35.56	45.57	55.39	57.10	57.64	61.99
Days Inventory Outstanding (DIO)	127.08	126.46	132.05	153.35	115.75	103.38	112.17	121.54	128.23	116.47	121.95
Days Payable Outstanding (DPO)	38.55	35.41	34.32	42.01	38.29	37.58	41.93	45.37	43.58	38.37	41.17
Cash Conversion Cycle (CCC)	130.13	132.79	135.90	148.74	110.02	101.36	115.81	131.56	141.75	135.74	142.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,079	1,287	1,076	1,064	1,085	1,007	972	871	983	904	1,516
Invested Capital Turnover	1.38	1.69	1.70	1.54	1.98	2.07	1.90	1.72	1.62	1.34	1.13
Increase / (Decrease) in Invested Capital	792	211	12	-21	78	35	101	-112	78	-611	-5.40
Enterprise Value (EV)	3,404	1,927	1,737	1,548	883	1,146	1,658	1,315	937	1,199	1,424
Market Capitalization	2,515	1,739	1,697	1,475	708	1,046	1,522	1,171	820	1,123	908
Book Value per Share	$33.58	$31.67	$29.39	$27.59	$25.71	$25.83	$27.03	$26.63	$24.92	$21.23	$25.26
Tangible Book Value per Share	$11.28	$24.77	$25.99	$24.08	$22.25	$21.89	$22.80	$22.67	$20.51	$17.20	$14.47
Total Capital	2,175	1,369	1,133	1,108	1,503	1,048	1,114	1,068	1,014	997	1,635
Total Debt	985	270	99	134	600	142	177	154	148	151	634
Total Long-Term Debt	985	270	99	134	600	142	177	154	136	82	564
Net Debt	889	188	40	74	175	101	136	144	117	76	515
Capital Expenditures (CapEx)	30	30	10	11	24	-17	13	19	40	-4.70	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	827	665	600	540	631	554	568	543	521	498	690
Debt-free Net Working Capital (DFNWC)	923	746	659	600	1,056	595	609	554	552	553	779
Net Working Capital (NWC)	923	746	659	600	1,056	595	609	553	540	484	709
Net Nonoperating Expense (NNE)	35	11	3.16	25	31	86	66	-0.99	1.89	-39	13
Net Nonoperating Obligations (NNO)	889	188	41	89	182	101	36	-44	117	59	515
Total Depreciation and Amortization (D&A)	41	28	33	36	44	43	41	36	33	81	98
Debt-free, Cash-free Net Working Capital to Revenue	35.65%	33.39%	32.97%	32.68%	30.45%	27.00%	32.48%	34.15%	34.16%	30.72%	40.36%
Debt-free Net Working Capital to Revenue	39.79%	37.50%	36.21%	36.33%	50.95%	29.00%	34.86%	34.79%	36.21%	34.09%	45.58%
Net Working Capital to Revenue	39.79%	37.50%	36.21%	36.33%	50.95%	29.00%	34.86%	34.79%	35.42%	29.84%	41.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.30	$2.56	$2.20	$1.01	$0.12	$0.20	$0.44	$1.66	$1.37	$0.26	$1.85
Adjusted Weighted Average Basic Shares Outstanding	35.71M	34.93M	35.42M	35.40M	35.16M	34.83M	34.74M	34.40M	34.70M	35.37M	39.59M
Adjusted Diluted Earnings per Share	$1.29	$2.53	$2.17	$1.00	$0.13	$0.21	$0.41	$1.64	$1.37	$0.24	$1.83
Adjusted Weighted Average Diluted Shares Outstanding	35.71M	34.93M	35.42M	35.40M	35.16M	34.83M	34.74M	34.40M	34.70M	35.37M	39.59M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.20	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.71M	34.93M	35.42M	35.40M	35.16M	34.83M	34.74M	34.40M	34.70M	35.37M	39.59M
Normalized Net Operating Profit after Tax (NOPAT)	82	102	82	61	35	93	82	56	50	-29	85
Normalized NOPAT Margin	3.52%	5.10%	4.50%	3.69%	1.70%	4.54%	4.67%	3.49%	3.25%	-1.80%	5.00%
Pre Tax Income Margin	2.51%	6.09%	5.77%	3.90%	1.47%	4.34%	4.42%	4.85%	4.52%	-6.98%	5.78%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.30	11.11	45.88	13.82	4.42	10.29	10.58	15.53	11.73	-0.58	4.44
NOPAT to Interest Expense	1.89	8.33	34.11	12.20	3.79	9.81	10.20	10.47	7.75	-0.40	3.02
EBIT Less CapEx to Interest Expense	1.62	8.70	41.71	11.56	1.88	12.13	8.90	12.00	5.48	-0.51	3.77
NOPAT Less CapEx to Interest Expense	1.20	5.91	29.94	9.94	1.25	11.64	8.53	6.94	1.50	-0.34	2.35
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	243.18%	-140.00%	66.03%	18.05%	21.80%	116.67%	16.19%
Augmented Payout Ratio	33.26%	57.65%	53.88%	0.00%	336.36%	-140.00%	150.00%	53.10%	61.22%	1,601.96%	17.56%

This table displays calculated financial ratios and metrics derived from AAR's official financial filings.

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.55%	25.80%	20.37%	18.65%	8.87%	16.09%	23.17%	16.22%	15.24%	7.60%	-1.93%
EBITDA Growth	-52.59%	-80.18%	668.06%	10.02%	-3.34%	13.78%	-81.44%	8.06%	4.23%	3.91%	55.82%
EBIT Growth	-79.75%	-115.26%	3,525.00%	-9.38%	-8.29%	9.88%	-103.75%	9.66%	7.69%	13.22%	100.00%
NOPAT Growth	117.31%	-110.39%	8,630.12%	-23.37%	-12.92%	17.41%	-101.50%	10.74%	13.35%	9.06%	105.55%
Net Income Growth	-163.57%	-228.57%	3,100.00%	-60.78%	-35.78%	5.78%	-102.64%	-2.93%	-3.11%	8.17%	97.39%
EPS Growth	-164.10%	-229.85%	2,600.00%	-60.94%	-37.10%	4.69%	-103.17%	0.00%	-1.59%	10.34%	96.88%
Operating Cash Flow Growth	-191.67%	26.44%	0.53%	-45.80%	17.24%	137.74%	-375.00%	12.72%	9.43%	-382.82%	134.48%
Free Cash Flow Firm Growth	-366.01%	-405.70%	-224.96%	-320.31%	-45.62%	-148.06%	-1,486.34%	-1,438.92%	-559.09%	-3.35%	-1.52%
Invested Capital Growth	50.57%	53.95%	59.22%	61.54%	13.31%	14.68%	21.23%	19.66%	11.13%	7.52%	3.58%
Revenue Q/Q Growth	-1.15%	3.69%	0.79%	15.72%	4.02%	-0.78%	-0.65%	6.18%	10.92%	5.27%	-6.26%
EBITDA Q/Q Growth	113.33%	-83.73%	17.16%	15.40%	-10.79%	530.56%	-83.22%	2.39%	5.01%	2.84%	-2.27%
EBIT Q/Q Growth	216.07%	-113.63%	28.84%	-0.62%	-12.53%	3,158.33%	-103.41%	0.57%	4.79%	4.38%	-0.31%
NOPAT Q/Q Growth	1,780.95%	-109.85%	38.57%	-5.26%	-19.65%	8,187.07%	-101.24%	7.66%	8.33%	3.34%	-8.12%
Net Income Q/Q Growth	70.92%	-270.00%	97.80%	-35.00%	-41.18%	4,066.67%	-102.59%	6.42%	-3.11%	-0.88%	-5.02%
EPS Q/Q Growth	71.26%	-274.00%	100.00%	-35.90%	-41.79%	3,450.00%	-103.13%	3.23%	-3.13%	1.59%	-1.56%
Operating Cash Flow Q/Q Growth	-185.00%	218.28%	-175.92%	20.10%	17.24%	193.05%	-141.37%	159.77%	137.74%	-777.94%	-83.04%
Free Cash Flow Firm Q/Q Growth	13.08%	3.65%	1.14%	-462.88%	5.68%	38.09%	-27.86%	-95.02%	-60.68%	-295.94%	-207.92%
Invested Capital Q/Q Growth	-1.89%	-1.98%	2.35%	52.99%	0.30%	1.38%	3.84%	7.31%	1.52%	7.17%	2.49%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	19.45%	18.79%	17.71%	19.35%	19.44%	18.96%	18.36%	19.07%	18.10%	18.26%	18.35%
EBITDA Margin	2.83%	1.31%	8.36%	7.19%	7.14%	8.32%	1.31%	7.75%	8.04%	8.49%	8.69%
Operating Margin	10.41%	-0.61%	6.24%	4.90%	5.87%	6.91%	-0.09%	6.61%	6.85%	7.02%	7.13%
EBIT Margin	0.96%	-0.82%	6.21%	4.86%	5.66%	6.73%	-0.22%	6.36%	6.72%	7.11%	7.17%
Profit (Net Income) Margin	-1.31%	-4.46%	2.72%	1.39%	2.47%	4.36%	-0.11%	4.19%	4.18%	4.79%	5.09%
Tax Burden Percent	80.18%	136.00%	72.29%	66.91%	68.29%	75.08%	8.00%	76.82%	73.15%	73.05%	74.67%
Interest Burden Percent	-170.77%	401.79%	60.58%	42.63%	63.86%	86.38%	625.00%	85.80%	85.14%	92.22%	95.00%
Effective Tax Rate	0.00%	0.00%	27.71%	33.09%	31.71%	24.92%	0.00%	23.18%	26.85%	26.95%	26.64%
Return on Invested Capital (ROIC)	11.48%	-0.64%	6.33%	4.52%	6.94%	8.88%	-0.11%	8.56%	8.42%	8.30%	8.74%
ROIC Less NNEP Spread (ROIC-NNEP)	0.42%	-5.66%	4.24%	2.21%	9.22%	6.27%	-0.29%	4.27%	9.38%	6.95%	7.85%
Return on Net Nonoperating Assets (RNNOA)	0.19%	-2.67%	2.06%	1.04%	-2.13%	0.99%	-0.04%	0.46%	-2.65%	0.81%	0.55%
Return on Equity (ROE)	11.67%	-3.31%	8.39%	5.56%	4.82%	9.87%	-0.15%	9.02%	5.77%	9.11%	9.29%
Cash Return on Invested Capital (CROIC)	-61.16%	-40.77%	-39.72%	-42.21%	-5.73%	-6.68%	-12.29%	-9.30%	-1.85%	1.16%	5.15%
Operating Return on Assets (OROA)	1.05%	-0.87%	6.37%	4.90%	6.79%	8.08%	-0.26%	7.43%	7.97%	8.26%	8.29%
Return on Assets (ROA)	-1.44%	-4.76%	2.79%	1.40%	2.96%	5.24%	-0.13%	4.90%	4.96%	5.56%	5.88%
Return on Common Equity (ROCE)	11.67%	-3.31%	8.39%	5.56%	4.82%	9.87%	-0.15%	9.02%	5.77%	9.11%	9.29%
Return on Equity Simple (ROE_SIMPLE)	-1.05%	0.89%	5.36%	0.00%	5.17%	5.90%	5.96%	0.00%	4.21%	8.85%	8.67%
Net Operating Profit after Tax (NOPAT)	49	-2.94	30	22	23	28	-0.35	28	26	24	23
NOPAT Margin	7.29%	-0.43%	4.51%	3.28%	4.01%	5.19%	-0.06%	5.08%	5.01%	5.13%	5.23%
Net Nonoperating Expense Percent (NNEP)	11.06%	5.02%	2.09%	2.31%	-2.28%	2.61%	0.18%	4.30%	-0.96%	1.35%	0.88%
Return On Investment Capital (ROIC_SIMPLE)	2.24%	-0.14%	-	-	1.58%	1.98%	-	-	-	-	-
Cost of Revenue to Revenue	80.55%	81.21%	82.32%	80.64%	80.57%	81.04%	81.64%	80.61%	82.27%	81.72%	81.65%
SG&A Expenses to Revenue	9.04%	19.40%	11.47%	14.44%	13.57%	12.05%	13.59%	12.80%	10.88%	11.24%	11.23%
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	9.04%	19.40%	11.47%	14.44%	13.57%	12.05%	18.45%	12.80%	10.88%	11.24%	11.23%
Earnings before Interest and Taxes (EBIT)	6.50	-5.60	41	32	32	37	-1.20	35	35	33	32
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	19	9.00	55	47	41	45	7.20	43	42	40	39
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.97	2.11	1.94	2.11	2.03	2.12	1.92	1.58	0.87	1.58	1.47
Price to Tangible Book Value (P/TBV)	5.42	6.07	5.51	6.29	2.55	2.66	2.44	2.02	0.92	1.78	1.65
Price to Revenue (P/Rev)	0.87	0.97	0.97	1.08	1.07	1.13	1.03	0.87	0.98	0.89	0.84
Price to Earnings (P/E)	0.00	237.74	36.20	54.32	39.25	35.86	32.17	19.28	20.62	17.83	16.89
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	0.00%	0.42%	2.76%	1.84%	2.55%	2.79%	3.11%	5.19%	4.85%	5.61%	5.92%
Enterprise Value to Invested Capital (EV/IC)	1.59	1.63	1.54	1.64	1.89	1.95	1.77	1.50	1.67	1.51	1.44
Enterprise Value to Revenue (EV/Rev)	1.21	1.32	1.34	1.47	1.16	1.22	1.13	0.97	1.05	0.96	0.87
Enterprise Value to EBITDA (EV/EBITDA)	24.84	22.31	17.30	24.20	18.84	19.25	17.94	11.79	12.51	11.22	10.09
Enterprise Value to EBIT (EV/EBIT)	44.07	34.18	23.04	34.21	24.92	25.03	23.11	14.21	15.14	13.69	12.56
Enterprise Value to NOPAT (EV/NOPAT)	0.00	115.21	31.60	41.74	29.66	29.83	28.12	18.97	20.26	18.57	16.88
Enterprise Value to Operating Cash Flow (EV/OCF)	353.98	70.40	74.76	78.08	39.84	43.16	0.00	82.71	110.19	106.56	20.03
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	134.34	28.42
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.86	0.84	0.81	0.83	0.24	0.24	0.27	0.25	0.09	0.19	0.11
Long-Term Debt to Equity	0.86	0.84	0.81	0.83	0.24	0.24	0.27	0.25	0.09	0.19	0.11
Financial Leverage	0.45	0.47	0.49	0.47	-0.23	0.16	0.13	0.11	-0.28	0.12	0.07
Leverage Ratio	2.08	2.06	2.03	2.01	1.11	1.65	1.65	1.60	1.02	1.56	1.55
Compound Leverage Factor	-3.55	8.28	1.23	0.86	0.71	1.42	10.29	1.37	0.86	1.43	1.47
Debt to Total Capital	46.36%	45.51%	44.77%	45.30%	19.04%	19.22%	21.36%	19.70%	7.92%	16.00%	9.92%
Short-Term Debt 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%
Long-Term Debt to Total Capital	46.36%	45.51%	44.77%	45.30%	19.04%	19.22%	21.36%	19.70%	7.92%	16.00%	9.92%
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	53.64%	54.49%	55.23%	54.70%	80.96%	80.78%	78.64%	80.30%	92.08%	84.00%	90.08%
Debt to EBITDA	7.80	6.47	5.20	7.00	2.02	2.00	2.31	1.65	1.16	1.24	0.73
Net Debt to EBITDA	7.03	5.93	4.86	6.32	1.41	1.45	1.63	1.15	0.82	0.92	0.42
Long-Term Debt to EBITDA	7.80	6.47	5.20	7.00	2.02	2.00	2.31	1.65	1.16	1.24	0.73
Debt to NOPAT	-2.89	33.43	9.49	12.08	3.18	3.10	3.62	2.66	1.87	2.06	1.22
Net Debt to NOPAT	-2.60	30.64	8.88	10.90	2.21	2.25	2.55	1.85	1.33	1.52	0.70
Long-Term Debt to NOPAT	-2.89	33.43	9.49	12.08	3.18	3.10	3.62	2.66	1.87	2.06	1.22
Altman Z-Score	2.65	2.65	2.72	2.71	3.95	4.14	3.77	3.76	4.34	4.06	4.07
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	2.82	2.68	3.06	2.98	2.90	3.14	3.07	3.12	3.22	3.28	2.89
Quick Ratio	0.73	0.68	0.77	0.80	0.76	0.82	0.89	0.88	0.88	0.85	0.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-638	-734	-762	-770	-137	-145	-234	-183	-94	-58	-15
Operating Cash Flow to CapEx	-220.00%	265.06%	-235.44%	326.67%	351.72%	238.36%	-205.49%	645.71%	179.38%	-755.74%	101.49%
Free Cash Flow to Firm to Interest Expense	-34.47	-38.02	-40.51	-39.91	-11.50	-23.40	-40.41	-35.25	-24.73	-27.85	-13.43
Operating Cash Flow to Interest Expense	-1.01	1.14	-0.99	1.27	1.71	2.81	-3.22	8.69	4.58	-21.95	6.18
Operating Cash Flow Less CapEx to Interest Expense	-1.47	0.71	-1.41	0.88	1.23	1.63	-4.79	7.35	2.03	-24.86	0.09
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.10	1.07	1.03	1.01	1.20	1.20	1.18	1.17	1.19	1.16	1.16
Accounts Receivable Turnover	9.42	9.07	8.22	8.78	8.96	9.20	8.35	8.74	8.56	8.84	9.02
Inventory Turnover	3.01	2.91	2.90	2.87	2.89	2.85	2.87	2.89	2.83	2.67	2.69
Fixed Asset Turnover	18.66	17.17	16.62	15.57	17.45	17.60	17.28	16.89	16.88	16.76	16.43
Accounts Payable Turnover	8.55	8.33	8.23	9.47	9.22	9.64	8.19	10.31	10.44	10.73	8.75
Days Sales Outstanding (DSO)	38.75	40.22	44.41	41.59	40.76	39.68	43.70	41.74	42.64	41.30	40.47
Days Inventory Outstanding (DIO)	121.29	125.48	126.01	127.08	126.37	128.27	127.20	126.46	129.08	136.46	135.67
Days Payable Outstanding (DPO)	42.68	43.82	44.37	38.55	39.57	37.85	44.54	35.41	34.96	34.01	41.71
Cash Conversion Cycle (CCC)	117.36	121.88	126.05	130.13	127.55	130.10	126.36	132.79	136.76	143.75	134.42
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,046	2,086	2,128	2,079	1,359	1,355	1,336	1,287	1,199	1,181	1,102
Invested Capital Turnover	1.58	1.50	1.40	1.38	1.73	1.71	1.72	1.69	1.68	1.62	1.67
Increase / (Decrease) in Invested Capital	687	731	791	792	160	173	234	211	120	83	38
Enterprise Value (EV)	3,257	3,401	3,267	3,404	2,562	2,645	2,367	1,927	2,006	1,779	1,584
Market Capitalization	2,335	2,496	2,349	2,515	2,371	2,446	2,152	1,739	1,874	1,633	1,519
Book Value per Share	$32.93	$32.91	$33.89	$33.58	$32.90	$32.74	$32.11	$31.67	$62.61	$29.51	$29.27
Tangible Book Value per Share	$11.99	$11.45	$11.94	$11.28	$26.14	$26.01	$25.24	$24.77	$59.20	$26.16	$25.95
Total Capital	2,205	2,168	2,191	2,175	1,443	1,431	1,427	1,369	2,343	1,233	1,151
Total Debt	1,022	987	981	985	275	275	305	270	186	197	114
Total Long-Term Debt	1,022	987	981	985	275	275	305	270	186	197	114
Net Debt	921	904	918	889	191	200	215	188	132	146	66
Capital Expenditures (CapEx)	8.50	8.30	7.90	7.50	5.80	7.30	9.10	7.00	9.70	6.10	6.70
Debt-free, Cash-free Net Working Capital (DFCFNWC)	889	857	897	827	729	739	724	665	682	685	629
Debt-free Net Working Capital (DFNWC)	990	940	960	923	813	814	814	746	736	737	677
Net Working Capital (NWC)	990	940	960	923	813	814	814	746	736	737	677
Net Nonoperating Expense (NNE)	58	28	12	12	8.74	4.50	0.25	4.92	4.32	1.61	0.63
Net Nonoperating Obligations (NNO)	863	904	918	889	191	199	214	188	-958	146	66
Total Depreciation and Amortization (D&A)	13	15	14	15	8.40	8.70	8.40	7.70	6.90	6.50	6.80
Debt-free, Cash-free Net Working Capital to Revenue	33.13%	33.33%	36.90%	35.65%	32.90%	34.05%	34.55%	33.39%	35.65%	37.16%	34.72%
Debt-free Net Working Capital to Revenue	36.89%	36.54%	39.49%	39.79%	36.67%	37.53%	38.86%	37.50%	38.48%	39.94%	37.40%
Net Working Capital to Revenue	36.89%	36.54%	39.49%	39.79%	36.67%	37.53%	38.86%	37.50%	38.48%	39.94%	37.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.25)	($0.87)	$0.50	$0.25	$0.40	$0.67	($0.02)	$0.64	$0.63	$0.65	$0.64
Adjusted Weighted Average Basic Shares Outstanding	35.40M	35.91M	35.91M	35.71M	35.43M	35.50M	35.29M	34.93M	34.71M	34.46M	35.08M
Adjusted Diluted Earnings per Share	($0.25)	($0.87)	$0.50	$0.25	$0.39	$0.67	($0.02)	$0.64	$0.62	$0.64	$0.63
Adjusted Weighted Average Diluted Shares Outstanding	35.40M	35.91M	35.91M	35.71M	35.43M	35.50M	35.29M	34.93M	34.71M	34.46M	35.08M
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	36.10M	35.91M	35.91M	35.71M	35.43M	35.50M	35.29M	34.93M	34.71M	34.46M	35.08M
Normalized Net Operating Profit after Tax (NOPAT)	49	-2.94	30	22	23	28	-0.35	28	26	24	23
Normalized NOPAT Margin	7.29%	-0.43%	4.51%	3.28%	4.01%	5.19%	-0.06%	5.08%	5.01%	5.13%	5.23%
Pre Tax Income Margin	-1.64%	-3.28%	3.76%	2.07%	3.61%	5.81%	-1.36%	5.46%	5.72%	6.56%	6.81%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.35	-0.29	2.19	1.65	2.70	5.92	-0.21	6.77	9.21	15.90	29.09
NOPAT to Interest Expense	2.67	-0.15	1.59	1.12	1.91	4.57	-0.06	5.41	6.87	11.48	21.21
EBIT Less CapEx to Interest Expense	-0.11	-0.72	1.77	1.26	2.21	4.74	-1.78	5.42	6.66	13.00	23.00
NOPAT Less CapEx to Interest Expense	2.21	-0.58	1.17	0.73	1.42	3.39	-1.63	4.06	4.32	8.57	15.12
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	-77.42%	0.00%	0.00%	33.26%	9.77%	0.00%	0.00%	57.65%	81.63%	100.98%	71.52%

Frequently Asked Questions About AAR's Financials

When does AAR's financial year end?

According to the most recent income statement we have on file, AAR's fiscal year ends in May. Their fiscal year 2024 ended on May 31, 2024.

How has AAR's net income changed over the last 10 years?

AAR's net income appears to be on an upward trend, with a most recent value of $46.30 million in 2024, falling from $72.90 million in 2014. The previous period was $90.20 million in 2023. Check out AAR's forecast to explore projected trends and price targets.

What is AAR's operating income?

AAR's total operating income in 2024 was $102.70 million, based on the following breakdown:

Total Gross Profit: $441.60 million
Total Operating Expenses: $338.90 million

How has AAR revenue changed over the last 10 years?

Over the last 10 years, AAR's total revenue changed from $1.71 billion in 2014 to $2.32 billion in 2024, a change of 35.7%.

How much debt does AAR have?

AAR's total liabilities were at $1.58 billion at the end of 2024, a 115.3% increase from 2023, and a 32.4% increase since 2014.

How much cash does AAR have?

In the past 10 years, AAR's cash and equivalents has ranged from $10.30 million in 2017 to $404.70 million in 2020, and is currently $85.80 million as of their latest financial filing in 2024.

How has AAR's book value per share changed over the last 10 years?

Over the last 10 years, AAR's book value per share changed from 25.26 in 2014 to 33.58 in 2024, a change of 33.0%.

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

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AAR (AIR) Financials

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AAR (AIR) Financials

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