What is AAR Corp's return on invested capital?

AAR Corp (AIR) reported return on invested capital of 9.5% in Q4 2025.

What is the long-term trend for AAR Corp's return on invested capital?

Over 2 years (2023 to 2025), AAR Corp's return on invested capital has grown at a -42.3% compound annual growth rate (CAGR), from 7.9% to 2.6%.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

AAR Corp AIR Return on invested capital

Return on invested capital at other companies

BoeingBA

8.1%+4.5pp

HEICOHEI

14.4%+1.3pp

VSE CorporationVSEC

4.7%+0.4pp

StandardAeroSARO

8.5%—

Loar HoldingsLOAR

6.1%-2.1pp

FTAI Aviation Ltd.FTAI

21.1%+13.2pp

Other financials

Income statement

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Revenue$845.1M+24.6%

Gross profit$154.7M+17.5%

Net income$68.0M+864%

EPS (diluted)$1.71+784%

Balance sheet

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Cash & equivalents$78.5M-7.0%

Total debt$979.7M-10.1%

Total equity$1.6B+39.0%

Total assets$3.3B+16.6%

Cash flow

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Operating cash flow$74.7M+499%

CapEx$8.5M0.0%

Free cash flow$66.2M+343%

Valuation

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Market cap$5.36B+98.6%

Enterprise value$6.26B+65.8%

P/E31.4×—

P/S1.7×+0.7×

Profitability

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Gross margin19%+0.2pp

Net margin5.5%+5.1pp

FCF margin-0.9%—

Returns & leverage

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Return on equity12.1%—

Debt / equity0.6×-0.3×

Current ratio2.7×-0.1×

Where this comes from

Calculated from AAR Corp’s reported figures.

nopat/invested capital=9.5%

Based on trailing twelve months.

The official record: AAR Corp’s 10-Q, filed March 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is AAR Corp's return on invested capital?: AAR Corp (AIR) reported return on invested capital of 9.5% in Q4 2025.
What is the long-term trend for AAR Corp's return on invested capital?: Over 2 years (2023 to 2025), AAR Corp's return on invested capital has grown at a -42.3% compound annual growth rate (CAGR), from 7.9% to 2.6%.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.