Air Industries Group Common Stock (AIRI)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn good returns on capital, have durable competitive advantages, and sell at a price that offers a margin of safety. Air Industries does not yet fit that description. It makes precision components for defense and aerospace, a field where qualification cycles can create switching costs, but with only 150 employees and no sustained profit, the evidence of a moat is thin. The numbers show a company that has been shrinking and losing money. Revenue fell from $55.1 million in FY2024 to $47.9 million in FY2025, and in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $12.0 million with a net loss of $846,000. That followed a $1.0 million net loss in fiscal Q1 2026, the quarter ended 2026-03-31. The company has reported losses in each of the last four years, which is why FairStock’s Lynch category is none. Financial health is not reassuring: trailing free cash flow is negative $4.7 million, a FairStock FCF yield of negative 38.4% on the 2026-10-13 close; debt-to-equity is 1.70, and the Altman Z-Score is -1.16, both warning signs. The Piotroski F-Score of 6/9 offers some comfort, but not enough to offset negative earnings and cash burn. At $2.52, the price-to-book ratio is 0.68, so the market values the equity below accounting book value. Graham might be intrigued by a sub-book price, but he would ask whether those assets can produce earnings. With a P/E of -7.87 and an EV/EBITDA of 11.53, the stock is not obviously cheap on earning power. Until revenue stabilizes and losses turn into cash profits, the low price is a speculation, not a margin of safety.

In plain English: Air Industries makes precision parts and assemblies for defense and aerospace, with about 150 employees. The business has been losing money and taking in less revenue than before, so it looks weak on profits and cash flow. The stock price is below the accounting value of its assets minus liabilities, but because the company is unprofitable, that low price is not clearly a bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer