What is AIRO's return on invested capital?

AIRO (AIRO) reported return on invested capital of -2.5% in Q4 2025.

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.

AIRO AIRO Return on invested capital

Return on invested capital at other companies

L3Harris TechnologiesLHX

11.7%+1.4pp

Lockheed MartinLMT

24.4%-1.6pp

Teledyne TechnologiesTDY

7.8%+0.4pp

GarminGRMN

24.6%+1.1pp

Aviat NetworksAVNW

3.8%+1.2pp

Archer AviationACHR

-129.7%-62.3pp

Other financials

Income statement

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Revenue$8.9M-24.5%

Gross profit$2.4M-65.9%

Operating income-$17.2M-457%

Net income-$15.5M-683%

EPS (diluted)-$0.49-308%

Balance sheet

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Cash & equivalents$54.2M+296%

Total debt$3.6M—

Total equity$722.4M+30.7%

Total assets$759.1M—

Cash flow

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Operating cash flow-$17.4M-78.4%

CapEx$2.1M+501%

Free cash flow-$19.5M-92.9%

Valuation

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Market cap$232.38M-62.0%

Enterprise value$181.77M-68.4%

P/S2.6×-3.5×

Profitability

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Gross margin56.6%-10.2pp

Operating margin-59%—

Net margin-20%-7.2pp

FCF margin-54.4%—

Returns & leverage

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Return on equity-2.8%-1.0pp

Debt / equity0×—

Current ratio2.9×—

Where this comes from

Calculated from AIRO’s reported figures.

nopat/invested capital=-2.5%

Based on trailing twelve months.

The official record: AIRO’s 10-Q, filed May 14, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is AIRO's return on invested capital?: AIRO (AIRO) reported return on invested capital of -2.5% in Q4 2025.
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.