Reading AIRT? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track AIRT free→
Air T Inc (AIRT)
NASDAQIndustrialsConglomeratesSnapshot 2026-06-16
Watch· this week
$21.22-2.66%
Close 2026-06-16 · 1-day change
Recent financial performance sits below its industry cohort — worth keeping an eye on, though it has not freshly broken.
The bottom line
Recent financial performance is neutral. Earnings quality is not assessable due to losses. Management's recent track record has been unsteady, with frequent changes. Risk is high, and the sector backdrop is a headwind. Compared with sector peers, AIRT trades below typical levels. Peer multiples imply a price about 90% above where it trades (it looks cheap on this basis); the read is cheap, value-trap risk. This pattern suggests potential issues due to weak financials or fragile earnings quality. The read is provisional.
as of 2026-06-16
Quick facts
- Exchange
- NASDAQ
- Sector
- Industrials
- Industry
- Conglomerates
- Market cap
- $58.92M
- Employees
- 646
- IPO date
- 1995-11-07
- Next earnings
- 2026-06-26
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 1 valuation methods, at three horizons. Current price $21.22. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryinexpensive
$202.80consensus
Range $202.80 – $202.80
vs price: -90% below
Method agreement — · 1 method
No-growth: today's peer multiple on trailing earnings. The headline read.
3-year—
—consensus
Range — – —
vs price: —
Method agreement —
Embeds projected growth. Leans optimistic by design. Upside context.
5-year—
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Cheap vs peerslow confidence
At $22 AIRT trades at 0× p/s, below its 2× p/s peer median. Our $196 fair value sits above the price; low confidence. Not investment advice.
Multiple (P/S)
0.2x
peer 1.9x · own history —
Premium
0.1x peer
Growth the price needs
-89%
our forecast 16%
Our fair value
$195.94
range $195.94 – $195.94
WhyEarnings too small for P/EPeer anchor overstates the discount
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
inexpensivecheap — value-trap risk12-month view
What's priced inJustified
The price implies about 89% below a flat-multiple fair value, below our forecast of about 16%. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Low fragilityrisk posture, not a price call
No fragility gates fired.
Historical context
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
neutralOperating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Industrials names rated neutral grew net income 57% of the time over the next year (vs 64% for the rest of the cohort, n=4882).
32nd pctl · Industrials
Earnings quality
loss makingOver the trailing year it converted -3.00x of net income into operating cash flow.
Macro sensitivity
Not enough signal yet.
Not enough signal to read sensitivity to the US dollar, the broad stock market, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity.
Management & capital allocation
volatile20 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Industrials names rated volatile grew net income 59% of the time over the next year (vs 59% for the rest of the cohort, n=840).
Earnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Sector context
Intermediate · WeeklySector phase: industrials is in maturing, with decelerating (~3.2 years in phase).
Sector regime (90d momentum): headwind.Secular epoch: Growth by revenue growth · theme aerospace-recovery.headwind-4.1%sector vs S&P 500, 60d
via XLI
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
AI cycle regime · market-wide
2-axis classifierLong-term · 1–3 yr
Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: neutralProvisional
- Capital allocation
- neutral
- Margin discipline
- neutral
- Balance sheet
- strong
- Post-call reaction
- neutral
A guidance track record builds as the company issues and delivers on guidance.
as of 2026-06-16
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$45.
How much price usually moves either way.
On a bad day, this stock has moved -$591.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $2,832.
Deepest peak-to-trough drop in the last year.
highas of 2026-06-16
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- No material changes since the prior snapshot.
No material changes since the prior snapshot.
as of 2026-06-16
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- UpsideMedium confidenceMonthsactive 4d
Watch for changes in sector growth trends
Why it matters: The industrial sector is slowing. If growth re-accelerates, it could benefit Air T's performance.
What confirms / what disproves
Confirms:Sector revenue growth speeds up to over 5% each year.
Disproves:Sector revenue growth slows down to under 5% each year.
Sector context
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for AIRT yet.
This sector is also watching
- Watch for impacts from upcoming FOMC decisions
- Watch for revenue growth speeding up in Industrials
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If sector bellwethers like HON, MMM, and VMI keep beating earnings and guiding higher, the Industrials sector momentum should keep lifting AIRT and other Industrials names. Worth watching these names for early signals.
- If the Fed starts cutting rates from the current 3.62%, that would be a tailwind for AIRT and other Industrials names, since rate-sensitive parts of the market tend to rally when the Fed eases.
Downside triggers
- If sector bellwethers like HON, MMM, and VMI start missing or guiding lower, the Industrials tailwind helping AIRT and other Industrials names could fade. Watch these names for early warning.
- If GDP growth slows materially from the current 2.6% (say, below 2%), it hits AIRT and other Industrials names harder than the average stock, since the sector is growth-sensitive.
- If AIRT misses again next quarter like this past one (a very large miss off a near-zero prior-year base on the 2023-03-31 print), expect continued pressure. The Street usually keeps walking estimates down after consecutive misses.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-06-161d agoItem 2.01
Completion of Acquisition or Disposition of Assets The information set forth under
M&A activitypositive
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
About the same as last weeklatest as of 2026-06-16
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.