AAR Corp. (AIR) Stock Price & Analysis
AAR Corp. (AIR) closed at USD 96.67 on Thursday, October 22, 2026, down 2.98% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 99.64; the Oct 22, 2026 session ranged USD 94.05–98.63 on volume of 671,613 shares. Market capitalization is $3.89B, with a 52-week range of USD 76.1–154 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:21 UTC.
Also available as compact Markdown for AI agents: nexqual.com/AIR.md
Key facts (AIR)
- Last four reported quarters (through Aug 31, 2026): revenue $3.49B, net income $193M (5.5% margin), free cash flow $160M (SEC filings).
- Valuation: P/E 20.1x (avg 84.4x at the last 3 fiscal year-ends), net debt $775M.
- 3 of 80 tracked superinvestors hold AIR (13F, Q2 2026): 0 new, 2 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $425K; 1 not under a Rule 10b5-1 plan ($425K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.14 on a 1–5 scale) (7 analysts), mean target USD 154.5 (range 145–168).
- Total return with dividends: 1Y +12.8% vs S&P 500 +14.9%; 5Y +176.5% vs S&P 500 +80.3%.
- Next earnings: 2026-09-28, EPS estimate USD 1.38, revenue estimate $894M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (AIR)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.82B | $1.99B | $2.32B | $2.78B | $3.31B | $3.49B |
| Gross profit | $313M | $370M | $442M | $528M | $622M | — |
| Net income | $78.7M | $90.2M | $46.3M | $12.5M | $188M | $193M |
| EPS (diluted) | $2.17 | $2.53 | $1.29 | $0.35 | $4.86 | — |
| Free cash flow | $57.9M | -$6.2M | $13.9M | $1.4M | $62.1M | $160M |
| Gross margin | 17.2% | 18.6% | 19.1% | 19.0% | 18.8% | — |
| Net margin | 4.3% | 4.5% | 2.0% | 0.4% | 5.7% | 5.5% |
| Revenue growth | +10.1% | +9.4% | +16.5% | +19.9% | +19.0% | — |
| Cash + short-term investments | $53.5M | $68.4M | $85.8M | $96.5M | $84.0M | — |
| Total debt | $100M | $272M | $985M | $968M | $894M | — |
Fiscal years end May. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Aug 31, 2026) (AIR)
P/E 20.1x · P/S 1.1x · EV/Sales 1.3x · P/FCF 24.3x · P/B 2.2x · FCF yield 4.11% · Earnings yield 4.98% · Net debt $775M · EV $4.66B
P/E at fiscal year-ends: May 2026 23.0x, May 2025 175.9x, May 2024 54.3x.
Superinvestors (SEC 13F-HR, Q2 2026) (AIR)
3 of 80 tracked investors hold AIR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mairs & Power | Mairs & Power Funds | 0.11% | $12.0M | Reduced -6.1% |
| Polen Capital | Polen Capital Management | 0.03% | $3.4M | Added +45.4% |
| First Eagle Investment | First Eagle Investment Management | 0.02% | $11.6M | Added +26.7% |
Insider sales (SEC Form 4, open-market, last ~7 months) (AIR)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-20 | Lord Ellen M. | Director | 4,241 | $425K | 29.5% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (AIR)
Consensus Buy (mean 2.14 on a 1–5 scale), 7 analysts; mean target USD 154.5 (low 145, high 168).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | Jefferies | Target raised | Buy | $155 → $160 |
| 2026-09-28 | RBC Capital | Reiterated | Outperform | $145 |
| 2026-09-15 | Guggenheim | Initiated | Neutral | |
| 2026-07-27 | Truist Securities | Target raised | Buy | $128 → $145 |
| 2026-07-14 | Jefferies | Target raised | Buy | $150 → $155 |
| 2026-06-30 | Keybanc | Downgrade | Overweight → Sector Weight |
Total return (dividends reinvested) (AIR)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +12.8% | +176.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +12.9% | +22.5% |
| Volatility (annualized) | 44.1% | 35.8% |
| Max drawdown | -37.1% (Aug 2026→Oct 2026) | -33.5% (Aug 2026→Oct 2026) |
AIR revenue by business segment (quarter ended Aug 31, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Aviation Services | $918.0M | 96.0% | +24.1% |
| — Parts Supply (part of Aviation Services) | $414.8M | 43.4% | +30.5% |
| — Repair Engineering & Software (part of Aviation Services) | $297.5M | 31.1% | +31.4% |
| — Government Solutions (part of Aviation Services) | $138.8M | 14.5% | +3.7% |
| — Legacy Commercial Programs (part of Aviation Services) | $66.9M | 7.0% | +8.8% |
| Reportable Segment Aggregation Before Corporate & Other Operating | $918.0M | 96.0% | +24.1% |
| Total revenue | $956.7M | 100% | — |
AIR revenue by product line (quarter ended Aug 31, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Product | $603.7M | 63.1% | +23.8% |
| Service | $314.3M | 32.9% | +24.8% |
| Government Programs | $106.0M | 11.1% | -5.1% |
| Component Repair Program | $63.1M | 6.6% | +17.1% |
| Mobility Systems | $32.8M | 3.4% | +47.7% |
| Distribution Of C & E Inventory | $3.8M | 0.4% | -50.0% |
| Total revenue | $956.7M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
AIR suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Airbus | “Our Repair, Engineering, and Software segment primarily supports narrow-body Airbus, Boeing and Embraer regional aircraft for customers, as well as U.S. government defense agencies.” |
| Customer | Boeing (BA) | “Our Repair, Engineering, and Software segment primarily supports narrow-body Airbus, Boeing and Embraer regional aircraft for customers, as well as U.S. government defense agencies.” |
| Partner | Asia | “We also have an interest in a joint venture supporting the distribution of OEM parts to customers in Asia.” |
Quoted from the company's 10-K filed Jul 22, 2026.
AIR company outlook (results filed Sep 28, 2026)
- “SECOND QUARTER AND FULL YEAR FISCAL 2027 GUIDANCE The Company is providing the following guidance for the second quarter and full year fiscal 2027.”
- “This guidance does not include any impact of the MRO Holdings acquisition: Second quarter FY 2027 As of September 28, 2026 Sales growth (ex.”
Quoted word-for-word from the SEC 8-K results press release.
AIR analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Nov 2026) | $1.38 | $1.36 | +1.4% | $894.3M | 6 |
| Next quarter (ends Feb 2027) | $1.44 | $1.35 | +6.8% | $910.9M | 6 |
| Current fiscal year (ends May 2027) | $5.80 | $5.59 | +3.8% | $3.69B | 8 |
| Next fiscal year (ends May 2028) | $6.71 | $6.50 | +3.3% | $3.94B | 7 |
AIR options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 45.9% | ±10.3% |
| Dec 18, 2026 | 56 | 45.1% | ±14.1% |
| Feb 19, 2027 | 119 | 47.1% | ±21.3% |
| May 21, 2027 | 210 | 46.7% | ±27.8% |
30-day implied volatility 43.2% vs 41.6% realized over the last 30 trading days. Put/call ratio (volume) 0.26. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:21 UTC)
| Price | USD 96.67 |
|---|---|
| Change | ▼ 2.98% (down) |
| Previous Close | USD 99.64 |
| Open | USD 97.93 |
| Day Range | USD 94.05 – 98.63 |
| 52-Week Range | USD 76.1 – 154 |
| Volume | 671,613 shares |
| Market Cap | $3.89B |
| Exchange | NYQ |
Technical Analysis (AIR)
Nexqual's technical model rates AIR "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:21 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 31.11 (neutral) |
| vs SMA50 | Below (USD 118.02) |
| MACD | -5.57 (negative) |
Analyst Ratings (AIR)
Wall Street analysts rate AIR "Buy" based on 7 analysts, with a mean price target of USD 154.5 (range USD 145–168), per Nexqual as of October 23, 2026 at 09:21 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 7 |
| Mean Target | USD 154.5 |
| High Target | USD 168 |
| Low Target | USD 145 |
| Buy / Hold / Sell | 5 / 2 / 0 |
Earnings (AIR)
| Next Earnings Date | 2026-09-28 |
|---|---|
| EPS Estimate | USD 1.38 |
| Revenue Estimate | $894.32M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-08-31 | USD 1.49 vs est 1.29 ▲ beat |
| 2026-05-31 | USD 1.53 vs est 1.38 ▲ beat |
| 2026-02-28 | USD 1.25 vs est 1.16 ▲ beat |
| 2025-11-30 | USD 1.18 vs est 1.03 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Financials & Fundamentals (AIR)
| Total Revenue | $3.49B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +24.10% |
| Gross Margin | +19.06% |
| Operating Margin | +8.08% |
| Profit Margin | +5.55% |
| ROE | +12.93% |
| Debt / Equity | 0.56 |
| Current Ratio | 2.83 |
| Total Cash | $104.50M |
| Total Debt | $978.40M |
| Free Cash Flow (last four quarters to Aug 2026, SEC 10-Q / 10-K) | $159.70M (4.6% of revenue) |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Financial Health Score (AIR)
Nexqual rates AAR Corp.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:21 UTC.
| Growth | Strong — Revenue +19% YoY (annual) |
|---|---|
| Profitability | Mixed — Gross margin 19%, operating 8% (last 12 months) |
| Balance Sheet | Strong — $105M cash and investments vs $880M debt (Aug 2026, SEC) |
| Cash Flow | Mixed — FCF $160M (last 4 quarters to Aug 2026, SEC), slim 4.6% margin |
| Efficiency | Mixed — ROE 13%, ROA 5.6% |
Ownership (AIR)
| Insider Ownership | +2.47% |
|---|---|
| Institutional Ownership | +103.32% |
| Shares Outstanding | 40.19M |
| Float | 38.70M |
| Short % of Float | +5.08% |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Leadership (AIR)
AAR Corp. is led by John McClain Holmes, Chairman, President & CEO, per Nexqual as of October 23, 2026 at 09:21 UTC.
| Chairman, President & CEO | John McClain Holmes |
|---|---|
| Chief Financial Officer & Senior VP | Dylan Z. Wolin |
| Vice President of Investor Relations | Christopher Paul Tillett C.F.A. |
| Executive Vice President | Terry D. Stinson |
Major Backers & Investors (AIR)
Notable institutional backers of AAR Corp. include Invesco, Earnest Partners LLC, Capital Group, according to Nexqual as of October 23, 2026 at 09:21 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Invesco | 3.98% |
| Earnest Partners LLC | 3.11% |
| Capital Group | 2.89% |
| SmallCap World Fund Inc | 2.81% |
| American Century Companies Inc | 1.95% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 16.1% |
| Vanguard Group | 9.7% |
| State Street | 7.05% |
| Dimensional Fund Advisors | 4.81% |
| Geode Capital | 2.84% |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
From AAR Corp.'s Latest SEC 10-K Filing (filed 2026-07-22)
Key Strengths & Strategy (as disclosed to the SEC)
- In most cases, we enter exclusive relationships with OEMs for a given market where we are the only provider of that supplier's product category.
- Airvoyant is an artificial intelligence ("AI") platform that automates the procurement workflow from requisition to invoice (end-to-end) through intelligent sourcing decisions using data science and agentic AI.
- As we continue to enhance our digital solutions, we have developed the online PAARTSsm Store, which facilitates the electronic fulfillment of orders when customers choose this channel.
- A portion of our contracts contain terms and conditions that enable us to pass inflationary price increases to our customers.
Legal & Regulatory Risks (Item 1A, quoted)
- We are subject to significant government regulation, which may cause us to incur significant expenses to comply with new or more stringent governmental regulation and may subject us to regulatory actions, which may adversely impact our business, financial condition or results of operations.
- Future environmental regulatory developments in the United States and abroad concerning environmental issues, such as climate change, could adversely affect our operations and increase operating costs and, through their impact on our customers, reduce demand for our products and services.
- Our industry is susceptible to product and other liability claims, and claims not adequately covered by insurance may adversely affect our financial condition.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| HXL | Hexcel Corporation | USD 81.27 | ▼ 9.54% |
| SARO | StandardAero, Inc. | USD 21.72 | ▲ 1.26% |
| KTOS | Kratos Defense & Security Solut | USD 38.27 | ▼ 1.21% |
| CAE | CAE Inc | USD 25.02 | ▲ 2.08% |
| DRS | Leonardo DRS, Inc. | USD 34.3 | ▲ 1.06% |
| HII | Huntington Ingalls Industries, | USD 278.86 | ▲ 1.79% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:21 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt