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1. Company Snapshot

1.a. Company Description

Air T, Inc., through its subsidiaries, provides overnight air cargo, ground equipment sale, and commercial jet engines and parts, and printing equipment and maintenance services in the United States and internationally.The company's Overnight Air Cargo segment offers air express delivery services.As of March 31, 2022, this segment had 72 aircraft under the dry-lease agreements with FedEx. Its Ground Equipment Sales segment manufactures, sells, and services aircraft deicers, scissor-type lifts, military and civilian decontamination units, flight-line tow tractors, glycol recovery vehicles, and other specialized equipment.


This segment sells its products to passenger and cargo airlines, ground handling companies, the United States Air Force, airports, and industrial customers.Its Commercial Aircraft, Engines and Parts segment offers commercial aircraft trading, leasing, and parts solutions; commercial aircraft storage, storage maintenance, and aircraft disassembly/part-out services; commercial aircraft parts sales, exchanges, procurement services, consignment programs, and overhaul and repair services; and aircraft instrumentation, avionics, and a range of electrical accessories for civilian, military transport, regional/commuter and business/commercial jet, and turboprop aircraft.This segment also provides composite aircraft structures, and repair and support services.


Air T, Inc.was incorporated in 1980 and is based in Denver, North Carolina.

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1.b. Last Insights on AIRT

Air T, Inc.'s recent performance was negatively impacted by rising costs and higher interest expenses, despite recording a narrower loss and revenue growth in the third quarter of fiscal 2025. The company's strong segment performance was offset by increasing costs, which likely weighed on its financials. With no recent earnings release mentioned, the impact of these expenses on the company's profitability remains unclear. Meanwhile, the company has not announced any share buyback initiatives, which could have provided a boost to shareholder value.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Air T Stock Slips Post Q2 Earnings Despite Strong Profitability Gains

Nov -17

Source: zacks.com

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Air T, Inc. Reports Second Quarter Fiscal 2026 Results

Nov -12

Source: accessnewswire.com

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Air T Welcomes Creditor Support for Rex Acquisition

Nov -11

Source: accessnewswire.com

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Air T Enters into Agreement with Regional Express Holdings Limited

Oct -21

Source: accessnewswire.com

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Air T Stock Rises Following Q1 Earnings With Higher Revenue and Loss

Aug -18

Source: zacks.com

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Air T, Inc. Reports First Quarter Fiscal 2026 Results

Aug -13

Source: accessnewswire.com

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Air T, Inc. Announces Webcast Availability for 2025 Annual Meeting of Stockholders

Aug -12

Source: accessnewswire.com

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Crestone Air Partners Launches Blue Crest Aviation Partners with funds managed by Blue Owl

Aug -11

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Commercial Jet Engines and Parts

Expected Growth: 4.5%

Growing demand for fuel-efficient engines, increasing air travel, and rising aircraft production drive the commercial jet engines and parts market. Air T, Inc.'s diverse product offerings and maintenance services position it for growth in this expanding market.

Overnight Air Cargo

Expected Growth: 4.5%

Growing e-commerce demand, increasing need for timely delivery of high-priority shipments, and expansion of global trade drive the growth of overnight air cargo services.

Ground Equipment

Expected Growth: 4.5%

Growing demand for air travel, increasing aircraft fleet, and rising need for efficient ground support equipment drive the growth of Ground Equipment from Air T, Inc. The segment is expected to benefit from the rising trend of outsourcing aircraft servicing and maintenance operations.

Corporate and Other

Expected Growth: 4.5%

The Corporate and Other segment of Air T, Inc. is expected to grow driven by increasing administrative efficiency, rising interest income, and strategic cost management. These factors will contribute to a steady growth rate, despite potential volatility in miscellaneous items.

7. Detailed Products

Overnight Air Cargo

Air T, Inc. provides overnight air cargo transportation services to a diverse customer base, including manufacturers, distributors, and logistics companies.

Ground Handling

The company offers ground handling services, including cargo handling, warehousing, and logistics support, to airlines and other customers.

Leasing and Financing

Air T, Inc. provides leasing and financing solutions for aircraft, engines, and other aviation-related equipment.

Aerospace and Defense Products

The company designs, manufactures, and supplies a range of aerospace and defense products, including aircraft components, engine components, and electronic systems.

E-Commerce Fulfillment

Air T, Inc. offers e-commerce fulfillment services, including order processing, packaging, and shipping, to online retailers and e-commerce companies.

8. Air T, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Air T, Inc. has a moderate threat of substitutes due to the availability of alternative transportation services.

Bargaining Power Of Customers

Air T, Inc. has a low bargaining power of customers due to its strong brand reputation and limited competition.

Bargaining Power Of Suppliers

Air T, Inc. has a moderate bargaining power of suppliers due to its dependence on a few key suppliers for aircraft and equipment.

Threat Of New Entrants

Air T, Inc. has a low threat of new entrants due to the high barriers to entry in the air transportation industry.

Intensity Of Rivalry

Air T, Inc. operates in a highly competitive industry with intense rivalry among existing players.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 92.03%
Debt Cost 5.56%
Equity Weight 7.97%
Equity Cost 7.61%
WACC 5.72%
Leverage 1155.24%

11. Quality Control: Air T, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Pitney Bowes

A-Score: 5.3/10

Value: 7.3

Growth: 1.0

Quality: 4.9

Yield: 6.0

Momentum: 9.0

Volatility: 3.7

1-Year Total Return ->

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Stock-Card
Cryoport

A-Score: 4.6/10

Value: 8.3

Growth: 3.9

Quality: 6.8

Yield: 0.0

Momentum: 7.5

Volatility: 1.0

1-Year Total Return ->

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Stock-Card
Air T

A-Score: 4.6/10

Value: 8.2

Growth: 5.4

Quality: 3.2

Yield: 0.0

Momentum: 8.5

Volatility: 2.0

1-Year Total Return ->

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Stock-Card
Radiant Logistics

A-Score: 4.0/10

Value: 5.8

Growth: 4.0

Quality: 4.6

Yield: 0.0

Momentum: 3.0

Volatility: 6.7

1-Year Total Return ->

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Stock-Card
PAM Transportation Services

A-Score: 3.6/10

Value: 8.4

Growth: 2.9

Quality: 2.2

Yield: 0.0

Momentum: 6.5

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
Forward Air

A-Score: 2.3/10

Value: 6.2

Growth: 2.4

Quality: 1.8

Yield: 0.0

Momentum: 1.5

Volatility: 2.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

19.5$

Current Price

19.5$

Potential

-0.00%

Expected Cash-Flows