Aar Corp. (AIR) intrinsic value & 10-year financials
Aar Corp. (AIR) has a Graham intrinsic value of $143.23 per share. At $98.84 on Oct 17, 2026, the stock trades 31% below that value. Over the last 10 fiscal years revenue grew 8.5% a year to $3.3B, with an average return on invested capital of 3.8%.
- Graham intrinsic value
- $143.23
- Share price (Oct 17, 2026)
- $98.84
- Price vs Graham value
- 31% below
- Market cap
- $3.8B
- Revenue (FY2026)
- $3.3B
- Revenue growth (10-yr CAGR)
- 8.5%
- ROIC (10-yr avg)
- 3.8%
- Free cash flow (FY2026)
- $62.1M
AIR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $3.3B | $187.7M | $4.86 | $62.1M | — | 8.0% |
| FY2025 | $2.8B | $12.5M | $0.35 | $1.4M | — | 0.6% |
| FY2024 | $2.3B | $46.3M | $1.29 | $13.9M | — | 2.7% |
| FY2023 | $2.0B | $90.2M | $2.53 | -$6.2M | — | 7.6% |
| FY2022 | $1.8B | $78.7M | $2.17 | $57.9M | — | 7.4% |
| FY2021 | $1.7B | $35.8M | $1.00 | $93.9M | — | 3.3% |
| FY2020 | $2.1B | $4.4M | $0.13 | -$59.7M | — | 0.4% |
| FY2019 | $2.1B | $7.5M | $0.21 | $50.0M | — | 0.7% |
| FY2018 | $1.7B | $15.6M | $0.41 | $42.3M | — | 1.5% |
| FY2017 | $1.6B | $56.5M | $1.64 | -$11.8M | — | 5.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
AAR CORP is a consistent compounder, expanding top-line revenue at 8.5% annually over the past decade.
AAR CORP has historically struggled to out-earn its cost of capital, averaging just 3.8% ROIC.
Over the decade, AAR CORP shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, AAR CORP is modeled at 12.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $143.23 per share.