What is Air T's net debt?

Air T (AIRT) reported net debt of -$4.74M in Q1 2026.

How has Air T's net debt changed year-over-year?

Air T's net debt decreased by 104.0% year-over-year, from $117.79M to -$4.74M.

What is the long-term trend for Air T's net debt?

Over 4 years (2022 to 2026), Air T's net debt has grown at a -56.8% compound annual growth rate (CAGR), from $135.62M to -$4.74M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Air T AIRT Net debt

Discontinued — last reported Q4 '26

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Other financials

Income statement

See full

Revenue$120.9M+82.4%

Operating income-$13.8M—

Net income$77.7M+1,206%

EPS (diluted)$28.75+1,227%

Balance sheet

See full

Cash & equivalents$20.3M+201%

Total debt$15.6M-87.5%

Total equity$79.8M+2,582%

Total assets$409.1M+135%

Cash flow

See full

Operating cash flow-$44.0K-101%

CapEx$15.3M+10,139%

Free cash flow-$15.3M-485%

Valuation

See full

Market cap$71.46M+28.1%

Enterprise value$66.72M-64.4%

P/E0.9×—

P/S0.2×0.0×

Profitability

See full

Operating margin-3.5%—

Net margin23.8%+22.1pp

FCF margin-12.7%-20.4pp

Returns & leverage

See full

Return on equity-157.8%-201pp

Debt / equity0.2×—

Current ratio1.7×0.0×

Where this comes from

Calculated from Air T’s reported figures.

$15.6Mtotal debt−$20.3Mcash and equivalents=-$4.74M

The official record: Air T’s 10-K, filed June 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Air T's net debt?: Air T (AIRT) reported net debt of -$4.74M in Q1 2026.
How has Air T's net debt changed year-over-year?: Air T's net debt decreased by 104.0% year-over-year, from $117.79M to -$4.74M.
What is the long-term trend for Air T's net debt?: Over 4 years (2022 to 2026), Air T's net debt has grown at a -56.8% compound annual growth rate (CAGR), from $135.62M to -$4.74M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.