NasdaqGM:AIRT

Stock Analysis Report

Executive Summary

Air T, Inc., through its subsidiaries, provides overnight air cargo, ground equipment sale, and ground support services in the United States and internationally.


Snowflake Analysis

Imperfect balance sheet and overvalued.

Share Price & News

How has Air T's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AIRT has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

13.6%

AIRT

-3.5%

US Logistics

-2.0%

US Market


1 Year Return

-34.5%

AIRT

-20.5%

US Logistics

-15.1%

US Market

Return vs Industry: AIRT underperformed the US Logistics industry which returned -20.5% over the past year.

Return vs Market: AIRT underperformed the US Market which returned -15.1% over the past year.


Shareholder returns

AIRTIndustryMarket
7 Day13.6%-3.5%-2.0%
30 Day-27.2%-6.9%-19.7%
90 Dayn/a-18.9%-23.2%
1 Year-34.5%-34.5%-18.5%-20.5%-13.4%-15.1%
3 Year-5.0%-5.0%-5.9%-12.0%10.9%3.7%
5 Year-20.5%-20.5%-1.2%-11.5%28.4%14.4%

Price Volatility Vs. Market

How volatile is Air T's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Air T undervalued compared to its fair value and its price relative to the market?

89.58x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate AIRT's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate AIRT's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: AIRT is poor value based on its PE Ratio (89.6x) compared to the Logistics industry average (17.5x).

PE vs Market: AIRT is poor value based on its PE Ratio (89.6x) compared to the US market (12.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AIRT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AIRT is good value based on its PB Ratio (1.6x) compared to the US Logistics industry average (1.9x).


Next Steps

Future Growth

How is Air T forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

15.3%

Forecasted Transportation industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Air T has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Air T performed over the past 5 years?

-14.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AIRT has a high level of non-cash earnings.

Growing Profit Margin: AIRT's current net profit margins (0.1%) are lower than last year (0.7%).


Past Earnings Growth Analysis

Earnings Trend: AIRT's earnings have declined by -14.7% per year over the past 5 years.

Accelerating Growth: AIRT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AIRT had negative earnings growth (-74%) over the past year, making it difficult to compare to the Logistics industry average (-5.5%).


Return on Equity

High ROE: AIRT's Return on Equity (15.7%) is considered low.


Next Steps

Financial Health

How is Air T's financial position?


Financial Position Analysis

Short Term Liabilities: AIRT's short term assets ($117.2M) exceed its short term liabilities ($76.4M).

Long Term Liabilities: AIRT's short term assets ($117.2M) exceed its long term liabilities ($50.4M).


Debt to Equity History and Analysis

Debt Level: AIRT's debt to equity ratio (291.1%) is considered high.

Reducing Debt: AIRT's debt to equity ratio has increased from 0.2% to 291.1% over the past 5 years.

Debt Coverage: AIRT's debt is not well covered by operating cash flow (10.9%).

Interest Coverage: AIRT's interest payments on its debt are not well covered by EBIT (1.9x coverage).


Balance Sheet

Inventory Level: AIRT has a high level of physical assets or inventory.

Debt Coverage by Assets: AIRT's debt is covered by short term assets (assets are 1.3x debt).


Next Steps

Dividend

What is Air T's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate AIRT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate AIRT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AIRT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AIRT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: AIRT is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AIRT's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Nick Swenson (50yo)

6.17s

Tenure

US$50,000

Compensation

Mr. Nicholas John Swenson, also known as Nick, is the Founder of Groveland Capital LLC and serves as its Chief Executive Officer, Managing Member and Portfolio Manager. Mr. Swenson has been Chairman at Air ...


CEO Compensation Analysis

Compensation vs Market: Nick's total compensation ($USD50.00K) is below average for companies of similar size in the US market ($USD618.59K).

Compensation vs Earnings: Nick's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Nicholas Swenson
Chairman6.17yrsUS$50.00k11.17% $4.0m
Brian Ochocki
Chief Financial Officer0.75yrno datano data
Mark Jundt
Chief Legal Counsel1.92yrsno datano data
Cheryl Sigmon
Chief Financial Officer of Air Cargo Segment5.42yrsUS$134.42kno data
Michael Moore
Chief Executive Officer of Global Ground Support LLC8.25yrsno datano data
Craig Bentley
CEO of Mountain Air Cargo5.67yrsno datano data
Mark Harris
CEO of Worthington Aviationno datano datano data
Michael Bandalan
CEO of Mountain Air Cargo0.50yrno datano data
Michael Trevino
CEO of Stratus Aero Partnersno datano datano data
Dave Bixler
President of Jet Yard2.08yrsno datano data

3.8yrs

Average Tenure

Experienced Management: AIRT's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Nicholas Swenson
Chairman6.17yrsUS$50.00k11.17% $4.0m
Gary Kohler
Director5.58yrsno data0.62% $225.2k
Raymond Cabillot
Lead Independent Directorno datano data0.26% $93.3k
Seth Barkett
Director6.67yrsno datano data
William Foudray
Independent Director6.67yrsno data0.13% $46.6k
Travis Swenson
Independent Director2.33yrsno datano data
Peter McClung
Independent Director2.33yrsno datano data

6.1yrs

Average Tenure

49yo

Average Age

Experienced Board: AIRT's board of directors are considered experienced (6.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AIRT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Air T, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Air T, Inc.
  • Ticker: AIRT
  • Exchange: NasdaqGM
  • Founded: 1980
  • Industry: Air Freight and Logistics
  • Sector: Transportation
  • Market Cap: US$36.233m
  • Shares outstanding: 2.91m
  • Website: https://www.airt.net

Number of Employees


Location

  • Air T, Inc.
  • 5930 Balsom Ridge Road
  • Denver
  • North Carolina
  • 28037
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AIRTNasdaqGM (Nasdaq Global Market)YesCommon SharesUSUSDApr 1984
AIRT.PNasdaqGM (Nasdaq Global Market)NT 49USUSDJun 2019

Biography

Air T, Inc., through its subsidiaries, provides overnight air cargo, ground equipment sale, and ground support services in the United States and internationally. The company’s Overnight Air Cargo segment offers air express delivery services. As of March 31, 2019, this segment had 79 aircrafts 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. The company’s Ground Support Services segment provides aircraft ground support equipment, fleet, and facility maintenance services to airlines and aviation service providers. 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 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. Its Printing Equipment and Maintenance segment designs, manufactures, and sells digital print production equipment, spare parts, supplies, and consumable items, as well as provides maintenance contracts. Air T, Inc. was founded in 1980 and is based in Denver, North Carolina. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/04 00:19
End of Day Share Price2020/04/01 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.