What is AeroVironment, Inc.'s earnings per share (EPS)?

AeroVironment, Inc. (AVAV) reported diluted earnings per share of -$5.40 for fiscal year 2026. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

AeroVironment, Inc. (AVAV) Financials

AVAV

FY2026 annual

Revenue $2.0B +140.9% YoY

Net Income -$265.1M -707.8% YoY

EPS (Diluted) -$5.40 YoY not available

Free Cash Flow -$140.9M -575.5% YoY

Market Cap $7.1B as of Oct 1, 2026

Price / Sales 3.6x on $2.0B revenue, FY2026

Price / Earnings n/m net loss, so no earnings multiple, FY2026

Price / Book 1.6x on $4.4B equity, Q2 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 1, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2027, ended Aug 1, 2026 Reported Sep 10, 2026 Currency USD FYE April

Newest figures come from the 10-Q for Q2 FY2027, filed Sep 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AVAV SEC filings page.

AeroVironment, Inc. (AVAV) reported $2.0B in revenue for fiscal year 2026, up 140.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AVAV FY2026 2026-09-05

FY2026's transaction-scale expansion enlarged the balance sheet while margins compressed and cash conversion deteriorated.

Revenue more than doubled from FY2025 while gross margin fell to 25.3%. Operating margin then swung to -15.7%, showing that added volume did not translate into operating leverage.

Total assets rose from $1.12B to $5.72B in FY2026. Goodwill reached $2.49B alongside $1.65B of financing cash inflow, indicating that expansion materially changed the capital structure rather than merely scaling existing operations.

Profitability in FY2024-25 did not become durable cash generation: operating cash flow moved from $15.3M to -$1.3M, while free cash flow stayed negative. FY2026 operating cash flow was -$78.4M and free cash flow was -$140.9M, even though the reported liquidity comparison equaled 109.2 months of latest annual operating outflow.

Financial Health Signals

Financial Health Score 55/100

Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of AeroVironment, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

AeroVironment, Inc. has an operating margin of -15.7%, meaning the company loses $16 on every $100 of revenue. This results in a profitability score of 22/100. This is down from 5.0% the prior year.

Growth

AeroVironment, Inc.'s revenue surged 140.9% year-over-year to $2.0B, reflecting rapid business expansion. This strong growth earns a score of 97/100.

Leverage

AeroVironment, Inc. carries a low D/E ratio of 0.17, meaning only $0.17 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 77/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.30, AeroVironment, Inc. holds $4.30 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 89/100.

Cash Flow

AeroVironment, Inc.'s operations used $78.4M of cash, and capex of $62.5M added to the outflow, for a free cash flow shortfall of $140.9M. This results in a cash flow score of 17/100.

Returns

AeroVironment, Inc. posts a -6.0% return on equity (ROE), meaning it loses $6 for every $100 of shareholders' equity. This results in a returns score of 26/100. This is down from 4.9% the prior year.

Altman Z-Score Safe

3.72

AeroVironment, Inc. scores 3.72, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($7.1B) relative to total liabilities ($1.3B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Weak

2/9

AeroVironment, Inc. passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

AeroVironment, Inc. reported a net loss of $265.1M while operations used $78.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

AeroVironment, Inc. reported an operating loss of $311.0M against $24.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$480.5M

YoY+5.7%

QoQ-25.1%

5Y CAGR+28.7%

10Y CAGR+21.7%

AeroVironment, Inc. generated $480.5M in revenue in Q2 2027. This represents an increase of 5.7% from the same quarter a year earlier. Against the prior quarter it is down 25.1%.

EBITDA

$45.2M

YoY+115.2%

QoQ-62.1%

AeroVironment, Inc.'s EBITDA was $45.2M in Q2 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 115.2% from the same quarter a year earlier. Against the prior quarter it is down 62.1%.

Net Income

-$5.1M

YoY+92.5%

QoQ-108.0%

AeroVironment, Inc. reported -$5.1M in net income in Q2 2027. This represents an increase of 92.5% from the same quarter a year earlier. Against the prior quarter it is down 108.0%.

EPS (Diluted)

-$0.10

YoY+93.1%

QoQ-107.5%

AeroVironment, Inc. earned -$0.10 per diluted share (EPS) in Q2 2027. This represents an increase of 93.1% from the same quarter a year earlier. Against the prior quarter it is down 107.5%.

Cash & Balance Sheet

Free Cash Flow

-$30.5M

YoY+79.1%

QoQ-138.6%

AeroVironment, Inc. recorded an outflow of $30.5M in free cash flow in Q2 2027, representing a cash shortfall after capex. This represents an increase of 79.1% from the same quarter a year earlier. Against the prior quarter it is down 138.6%.

Cash & Debt

$278.4M

YoY-59.4%

QoQ-26.2%

5Y CAGR+13.4%

10Y CAGR+8.5%

AeroVironment, Inc. held $278.4M in cash against $730.1M in long-term debt as of Q2 2027.

Shares Outstanding

51M

YoY+1.8%

QoQ+0.4%

5Y CAGR+15.5%

10Y CAGR+8.1%

AeroVironment, Inc. had 51M shares outstanding in Q2 2027. This represents an increase of 1.8% from the same quarter a year earlier. Against the prior quarter it is up 0.4%.

Dividends Per Share

Not reported for Q2 2027.

Margins & Returns

Gross Margin

25.9%

YoY+5.0pp

QoQ-5.7pp

5Y change-17.9pp

10Y change-13.5pp

AeroVironment, Inc.'s gross margin was 25.9% in Q2 2027, indicating the percentage of revenue retained after direct costs. This is up 5.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.7 percentage points.

Operating Margin

-2.3%

YoY+13.0pp

QoQ-11.1pp

AeroVironment, Inc.'s operating margin was -2.3% in Q2 2027, reflecting core business profitability. This is up 13.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 11.1 percentage points.

Net Margin

-1.1%

YoY+13.8pp

QoQ-10.9pp

AeroVironment, Inc.'s net profit margin was -1.1% in Q2 2027, showing the share of revenue converted to profit. This is up 13.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.9 percentage points.

Return on Equity

-0.1%

YoY+1.4pp

QoQ-1.6pp

AeroVironment, Inc.'s ROE was -0.1% in Q2 2027, measuring profit generated per dollar of shareholder equity. This is up 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.

Capital Allocation

R&D Spending

$24.0M

YoY-27.6%

QoQ-23.8%

AeroVironment, Inc. invested $24.0M in research and development in Q2 2027. This represents a decrease of 27.6% from the same quarter a year earlier. Against the prior quarter it is down 23.8%.

Capital Expenditures

$44.0M

YoY+93.7%

QoQ+168.3%

5Y CAGR+73.6%

10Y CAGR+40.6%

AeroVironment, Inc. invested $44.0M in capex in Q2 2027, funding long-term assets and infrastructure. This represents an increase of 93.7% from the same quarter a year earlier. Against the prior quarter it is up 168.3%.

Share Buybacks

Not reported for Q2 2027.

AVAV Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AVAV quarterly income statement

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$2.0B+140.9%	$820.6M+14.5%	$716.7M+32.6%	$540.5M+21.3%	$445.7M+12.9%	$394.9M+7.5%	$367.3M+16.9%	$314.3M+15.9%	$271.1M+18.4%	$228.9M-2.1%	$233.7M-9.9%	$259.4M+3.1%	$251.7M+4.8%	$240.2M-26.1%	$325.0M
Cost of Revenue	$1.5B+194.1%	$502.0M+16.0%	$432.8M+17.9%	$367.0M+20.5%	$304.5M+32.2%	$230.4M+7.5%	$214.2M+15.2%	$185.9M+15.6%	$160.7M+18.0%	$136.2M+6.3%	$128.2M-17.4%	$155.1M-1.9%	$158.1M+7.1%	$147.6M-24.6%	$195.7M
Gross Profit	$500.6M+57.1%	$318.6M+12.2%	$283.9M+63.6%	$173.5M+22.9%	$141.2M-14.2%	$164.6M+7.5%	$153.1M+19.2%	$128.4M+19.2%	$107.7M+11.2%	$96.9M-8.2%	$105.6M+1.3%	$104.3M+11.4%	$93.6M+1.2%	$92.5M-28.5%	$129.3M
R&D Expenses	$127.7M+26.8%	$100.7M+3.1%	$97.7M+52.0%	$64.3M+17.5%	$54.7M+1.7%	$53.8M+15.7%	$46.5M+35.8%	$34.2M+29.5%	$26.4M-7.1%	$28.5M-18.8%	$35.0M-24.6%	$46.5M+82.2%	$25.5M-31.4%	$37.2M+20.1%	$31.0M
SG&A Expenses	$443.3M+179.2%	$158.8M+38.7%	$114.4M-13.3%	$131.9M+36.8%	$96.4M+42.9%	$67.5M+13.4%	$59.5M-1.4%	$60.3M+18.7%	$50.8M+6.7%	$47.6M-5.6%	$50.5M-9.5%	$55.8M+0.2%	$55.7M+8.1%	$51.5M-6.8%	$55.3M
Operating Income	-$311.0M-862.3%	$40.8M-43.2%	$71.8M+140.2%	-$178.7M-1707.0%	-$9.9M-122.8%	$43.3M-8.1%	$47.1M+39.3%	$33.8M+11.2%	$30.4M+46.5%	$20.8M+3.5%	$20.1M+896.6%	$2.0M-83.8%	$12.4M+226.6%	$3.8M-91.2%	$43.1M
EBITDA	-$46.0M-156.2%	$81.8M-24.0%	$107.6M+236.7%	-$78.7M-254.4%	$50.9M-18.6%	$62.6M+9.7%	$57.0M+37.4%	$41.5M+14.0%	$36.4M+41.0%	$25.8M+7.9%	$23.9M+130.5%	$10.4M-51.9%	$21.6M+46.4%	$14.7M-71.7%	$52.0M
Interest Expense	$24.2M+1005.9%	$2.2M-48.2%	$4.2M-55.0%	$9.4M+72.2%	$5.4M+780.3%	$618K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$23.1M-2714.4%	$882K-53.4%	$1.9M+112.9%	-$14.7M-41.4%	-$10.4M-2023.7%	$539K-90.8%	$5.8M+26.0%	$4.6M-52.6%	$9.8M+106.0%	$4.8M+59.5%	$3.0M+397.7%	-$1.0M-185.1%	$1.2M+239.5%	$347K-97.3%	$13.1M
Net Income	-$265.1M-707.8%	$43.6M-26.9%	$59.7M+133.9%	-$176.2M-4109.5%	-$4.2M-117.9%	$23.3M-43.2%	$41.1M-13.4%	$47.4M+168.7%	$17.6M+34.9%	$13.1M+45.9%	$9.0M-31.4%	$13.1M-4.7%	$13.7M+31.6%	$10.4M-65.8%	$30.5M
EPS (Basic)	-$5.40-446.2%	$1.56-28.8%	$2.19+131.1%	-$7.04-4041.2%	-$0.17-117.5%	$0.97-43.9%	$1.73-13.5%	$2.00+163.2%	$0.76+33.3%	$0.57+46.2%	$0.39+200.0%	$0.13-78.7%	$0.61+29.8%	$0.47-66.4%	$1.40
EPS (Diluted)	-$5.40	$1.55-28.9%	$2.18+131.0%	-$7.04-4041.2%	-$0.17-117.7%	$0.96-43.9%	$1.71-13.2%	$1.97+162.7%	$0.75+33.9%	$0.56+43.6%	$0.39	$0.13	$0.60+27.7%	$0.47-65.4%	$1.36
Diluted Shares (Avg)	49M	28M+3.1%	27M+9.1%	25M+1.5%	25M+1.3%	24M+1.1%	24M+0.1%	24M+1.1%	24M+2.2%	23M+0.7%	23M	23M	23M+1.5%	22M+0.3%	22M

Metric	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q/A	Q2'2610-Q	Q4'2510-K	Q3'2510-Q/A	Q2'2510-Q	Q1'2510-Q
Revenue	$480.5M+5.7%	$641.6M+133.3%	$408.0M+143.4%	$454.7M+141.3%	$275.1M+39.6%	$167.6M-10.2%	$188.5M+4.2%	$189.5M+24.4%
Cost of Revenue	$355.9M-1.0%	$439.0M+151.3%	$309.3M+196.1%	$359.6M+213.1%	$174.7M+44.0%	$104.4M-12.5%	$114.8M+8.9%	$108.0M+24.6%
Gross Profit	$124.6M+31.0%	$202.6M+102.0%	$98.8M+56.3%	$95.1M+29.2%	$100.3M+32.7%	$63.2M-6.1%	$73.6M-2.3%	$81.5M+24.1%
R&D Expenses	$24.0M-27.6%	$31.5M+26.3%	$27.1M+20.5%	$33.1M+15.3%	$24.9M-29.0%	$22.5M-10.5%	$28.7M+30.4%	$24.6M+59.1%
SG&A Expenses	$111.5M-15.1%	$114.2M+164.1%	$99.4M+127.0%	$131.3M+246.2%	$43.3M+24.9%	$43.8M+57.4%	$37.9M+34.7%	$33.8M+41.8%
Operating Income	-$10.9M+84.3%	$56.9M+312.1%	-$268.4M-8595.8%	-$69.3M-1088.8%	$13.8M+132.4%	-$3.1M-121.5%	$7.0M-72.2%	$23.1M-12.5%
EBITDA	$45.2M+115.2%	$119.0M+330.1%	-$213.8M-3546.8%	$21.0M+31.1%	$27.7M+65.4%	$6.2M-74.1%	$16.0M-52.4%	$31.9M-4.2%
Interest Expense	N/A	N/A	N/A	$17.4M+2423.9%	$1.0M+583.1%	$248K+117.5%	$690K-64.6%	$239K-88.1%
Income Tax	-$397K+97.4%	$16.0M+7088.8%	-$21.6M-3472.9%	-$15.2M-6763.8%	$223K+112.3%	-$605K-148.1%	-$221K-119.4%	$1.5M+13.0%
Net Income	-$5.1M+92.5%	$63.2M+279.1%	-$243.8M-13801.0%	-$67.4M-993.1%	$16.7M+175.6%	-$1.8M-112.6%	$7.5M-57.7%	$21.2M-3.3%
EPS (Basic)	-$0.10+93.1%	$1.33+121.7%	-$4.90-8066.7%	-$1.44-633.3%	$0.60+200.0%	-$0.06-112.0%	$0.27-59.1%	$0.76-9.5%
EPS (Diluted)	-$0.10+93.1%	$1.33	-$4.90	-$1.44	$0.59+195.0%	-$0.06-112.0%	$0.27-59.1%	$0.75-10.7%
Diluted Shares (Avg)	50M+6.3%	N/A	50M	47M	N/A	28M0.0%	28M+4.4%	28M+8.0%

AVAV Balance Sheet

AVAV quarterly balance sheet

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$5.7B+410.2%	$1.1B+10.3%	$1.0B+23.2%	$824.6M-9.8%	$914.2M-1.5%	$928.6M+58.7%	$585.0M+15.0%	$508.8M+7.5%	$473.4M+9.5%	$432.5M+5.3%	$410.7M+3.3%	$397.5M+3.3%	$385.0M+6.5%	$361.6M-2.0%	$369.2M
Current Assets	$1.9B+211.7%	$606.5M+17.6%	$515.6M+8.1%	$477.0M+29.3%	$368.9M-8.1%	$401.6M-20.3%	$503.9M+7.3%	$469.6M+17.7%	$399.0M+12.7%	$354.1M+2.9%	$344.3M+4.6%	$329.0M+7.2%	$306.9M+16.5%	$263.5M-6.0%	$280.3M
Cash & Equivalents	$377.3M+823.4%	$40.9M-44.3%	$73.3M-44.8%	$132.9M+72.0%	$77.2M-48.1%	$148.7M-41.7%	$255.1M+47.7%	$172.7M+20.3%	$143.5M+79.6%	$79.9M-35.7%	$124.3M-13.3%	$143.4M+12.9%	$127.0M+68.5%	$75.3M+17.3%	$64.2M
Short-Term Investments	$255.0M	$0	$0	$0-100.0%	$24.7M-22.7%	$32.0M-32.7%	$47.5M-68.4%	$150.5M+32.4%	$113.6M-5.3%	$120.0M+16.0%	$103.4M+21.1%	$85.4M+20.9%	$70.6M-3.6%	$73.2M-5.1%	$77.2M
Inventory	$312.9M+117.1%	$144.1M-4.0%	$150.2M+8.2%	$138.8M+53.2%	$90.6M+26.5%	$71.6M+57.3%	$45.5M-15.8%	$54.1M+44.4%	$37.4M-8.5%	$40.9M+9.1%	$37.5M-4.9%	$39.4M-22.3%	$50.7M-19.0%	$62.6M+43.7%	$43.5M
Accounts Receivable	$316.2M+210.1%	$102.0M+45.0%	$70.3M-19.8%	$87.6M+45.6%	$60.2M-4.0%	$62.6M-15.0%	$73.7M+137.2%	$31.1M-45.3%	$56.8M-17.3%	$68.7M+22.6%	$56.0M+66.8%	$33.6M+5.9%	$31.7M+60.5%	$19.8M-65.0%	$56.4M
Long-Term Investments	$81.1M+156.5%	$31.6M+2979.6%	$1.0M-79.3%	$5.0M-67.8%	$15.4M+27.0%	$12.2M-19.1%	$15.0M+60.1%	$9.4M+338.2%	$2.1M-14.2%	$2.5M-10.2%	$2.8M-94.1%	$46.8M-7.4%	$50.5M-26.7%	$68.9M+1012.3%	$6.2M
Goodwill	$2.5B+871.1%	$256.8M-6.8%	$275.7M+52.5%	$180.8M-45.9%	$334.3M+6.4%	$314.2M+4855.9%	$6.3M	N/A	N/A	$122K	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.3B+462.4%	$234.1M+21.2%	$193.1M-29.4%	$273.6M-10.7%	$306.2M-3.2%	$316.5M+321.7%	$75.1M+62.2%	$46.3M-28.1%	$64.4M+27.4%	$50.5M+2.9%	$49.1M+1.2%	$48.6M+14.3%	$42.5M-8.5%	$46.4M-33.6%	$70.0M
Current Liabilities	$439.2M+155.1%	$172.2M+18.8%	$144.9M+19.4%	$121.3M+19.7%	$101.4M+5.4%	$96.2M+43.7%	$67.0M+49.2%	$44.9M-27.7%	$62.1M+29.2%	$48.1M+3.7%	$46.3M-0.8%	$46.7M+23.9%	$37.7M-10.6%	$42.2M-33.1%	$63.1M
Non-Current Liabilities	$877.1M+1317.0%	$61.9M+28.3%	$48.2M-68.3%	$152.3M-25.7%	$204.8M-7.0%	$220.3M+2619.6%	$8.1M+475.7%	$1.4M-38.7%	$2.3M-7.5%	$2.5M-10.9%	$2.8M+53.2%	$1.8M-61.7%	$4.8M+12.3%	$4.2M-38.3%	$6.9M
Long-Term Debt	$729.0M+2329.9%	$30.0M+75.5%	$17.1M-86.4%	$125.9M-29.2%	$177.8M-5.2%	$187.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$4.4B+396.4%	$886.5M+7.7%	$822.7M+49.3%	$551.0M-9.4%	$608.0M-0.7%	$612.1M+20.0%	$509.9M+10.2%	$462.6M+13.1%	$409.0M+7.1%	$382.0M+5.7%	$361.5M+3.6%	$348.9M+1.9%	$342.5M+8.7%	$315.2M+5.3%	$299.2M
Retained Earnings	$9.2M-96.7%	$274.3M+18.9%	$230.7M+34.9%	$171.0M-50.7%	$347.2M-1.2%	$351.4M+7.1%	$328.1M+14.6%	$286.4M+19.9%	$238.9M+8.6%	$219.9M+6.0%	$207.4M+2.7%	$202.0M+1.5%	$199.1M+7.4%	$185.4M+6.0%	$174.9M

Metric	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q/A	Q2'2610-Q	Q4'2510-K	Q3'2510-Q/A	Q2'2510-Q	Q1'2510-Q
Total Assets	$5.7B+1.9%	$5.7B+410.2%	$5.4B+411.8%	$5.6B+451.9%	$1.1B+10.3%	$1.0B+6.9%	$1.0B+1.2%	$999.2M+21.0%
Current Assets	$1.9B+14.8%	$1.9B+211.7%	$1.7B+213.3%	$1.6B+218.4%	$606.5M+17.6%	$543.9M+8.6%	$514.8M-1.8%	$500.3M+3.9%
Cash & Equivalents	$278.4M-59.4%	$377.3M+823.4%	$289.9M+516.8%	$685.8M+894.5%	$40.9M-44.3%	$47.0M-56.4%	$69.0M-31.7%	$81.2M-23.3%
Short-Term Investments	$301.8M	$255.0M	$297.3M	$0	$0	$0	$0	$0
Inventory	$410.8M+76.4%	$312.9M+117.1%	$299.3M+102.3%	$232.9M+66.7%	$144.1M-4.0%	$148.0M-8.3%	$139.7M-23.1%	$143.8M-18.0%
Accounts Receivable	$183.1M-7.6%	$316.2M+210.1%	$201.0M+147.5%	$198.3M+168.2%	$102.0M+45.0%	$81.2M+52.6%	$73.9M+0.1%	$35.5M-55.2%
Long-Term Investments	$94.8M+161.3%	$81.1M+156.5%	$61.7M+2685.0%	$36.3M+4672.0%	$31.6M+2979.6%	$2.2M-2.0%	$760K-49.5%	$706K-96.9%
Goodwill	$2.5B-1.8%	$2.5B+871.1%	$2.4B+761.8%	$2.5B+820.7%	$256.8M-6.8%	$275.3M0.0%	$275.8M+0.4%	$275.9M+52.6%
Total Liabilities	$1.3B+11.5%	$1.3B+462.4%	$1.2B+530.4%	$1.2B+644.9%	$234.1M+21.2%	$187.1M+11.8%	$160.7M-24.5%	$153.6M-38.9%
Current Liabilities	$441.7M+60.7%	$439.2M+155.1%	$309.3M+140.0%	$274.9M+146.3%	$172.2M+18.8%	$128.9M+19.9%	$111.6M+2.1%	$117.4M+9.5%
Non-Current Liabilities	$892.9M-3.2%	$877.1M+1317.0%	$870.0M+1395.4%	$922.0M+1778.7%	$61.9M+28.3%	$58.2M-2.7%	$49.1M-52.7%	$36.3M-74.9%
Long-Term Debt	$730.1M+0.6%	$729.0M+2329.9%	$727.9M+2811.5%	$725.7M+4738.0%	$30.0M+75.5%	$25.0M-20.1%	$15.0M-79.6%	$6.8M-94.3%
Total Equity	$4.4B-0.7%	$4.4B+396.4%	$4.2B+386.0%	$4.4B+415.7%	$886.5M+7.7%	$861.1M+5.9%	$858.4M+8.1%	$845.5M+47.2%
Retained Earnings	$4.1M-98.0%	$9.2M-96.7%	-$54.0M-121.0%	$206.9M-20.2%	$274.3M+18.9%	$257.6M+14.7%	$259.4M+23.1%	$251.9M+30.6%

AVAV Cash Flow Statement

AVAV quarterly cash flow statement

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	-$78.4M-5848.7%	-$1.3M-108.6%	$15.3M+34.1%	$11.4M+218.5%	-$9.6M-111.1%	$86.5M+244.8%	$25.1M-6.9%	$26.9M-61.4%	$69.8M+946.1%	-$8.3M-236.5%	$6.0M-84.7%	$39.4M+15.9%	$34.0M+16.3%	$29.2M+55.9%	$18.8M
Depreciation & Amortization	$265.0M+546.5%	$41.0M+14.7%	$35.7M-64.3%	$100.0M+64.4%	$60.8M+215.8%	$19.3M+94.8%	$9.9M+28.9%	$7.7M+28.2%	$6.0M+18.4%	$5.1M+31.1%	$3.9M-53.9%	$8.4M-8.6%	$9.2M-16.3%	$10.9M+21.9%	$9.0M
Stock-Based Compensation	$38.3M+78.6%	$21.5M+25.7%	$17.1M+58.6%	$10.8M+99.7%	$5.4M-22.2%	$6.9M+11.3%	$6.2M-10.9%	$7.0M+40.9%	$5.0M+46.1%	$3.4M-15.2%	$4.0M+6.2%	$3.8M+4.0%	$3.6M+4.4%	$3.5M+8.6%	$3.2M
Capital Expenditures	$62.5M+220.0%	$19.5M-15.0%	$23.0M+54.6%	$14.9M-33.3%	$22.3M+97.9%	$11.3M+0.4%	$11.2M+26.1%	$8.9M-7.0%	$9.6M+6.1%	$9.0M+47.3%	$6.1M+15.9%	$5.3M-26.1%	$7.1M-39.6%	$11.8M-21.1%	$15.0M
Free Cash Flow	-$140.9M-575.5%	-$20.9M-171.3%	-$7.7M-121.8%	-$3.5M+89.1%	-$31.9M-142.4%	$75.3M+442.4%	$13.9M-23.1%	$18.1M-70.1%	$60.3M+449.0%	-$17.3M-23237.8%	-$74K-100.2%	$34.1M+27.1%	$26.9M+54.3%	$17.4M+362.8%	$3.8M
Investing Cash Flow	-$1.2B-4226.7%	-$28.5M+44.9%	-$51.7M-638.5%	-$7.0M+86.6%	-$52.3M+86.2%	-$378.8M-740.2%	$59.2M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$1.6B+57774.3%	-$2.9M+87.5%	-$22.9M-145.0%	$50.8M+406.1%	-$16.6M-108.6%	$194.2M+10709.8%	-$1.8M-54.6%	-$1.2M-158.6%	$2.0M-41.8%	$3.5M+212.1%	-$3.1M	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$3.8M	N/A	N/A	N/A	N/A

Metric	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q/A	Q2'2610-Q	Q4'2510-K	Q3'2510-Q/A	Q2'2510-Q	Q1'2510-Q
Operating Cash Flow	$13.5M+110.9%	$95.5M+36279.2%	-$5.1M+80.2%	-$123.7M-3297.2%	-$264K+97.7%	-$25.8M-149.0%	-$3.6M+57.3%	$28.4M+266.2%
Depreciation & Amortization	$56.0M-37.9%	$62.1M+348.1%	$54.6M+488.1%	$90.3M+902.5%	$13.9M+28.5%	$9.3M-3.0%	$9.0M+6.7%	$8.9M+27.3%
Stock-Based Compensation	$4.9M-56.9%	N/A	$8.1M+50.0%	$11.4M+104.1%	N/A	$5.4M	$5.6M	$4.5M+41.6%
Capital Expenditures	$44.0M+93.7%	$16.4M+212.3%	$12.6M+227.6%	$22.7M+353.0%	$5.3M-42.1%	$3.8M+1.3%	$5.0M-22.5%	$5.4M+49.5%
Free Cash Flow	-$30.5M+79.1%	$79.1M+1533.3%	-$17.7M+40.2%	-$146.5M-1591.4%	-$5.5M+73.4%	-$29.6M-160.7%	-$8.7M+42.3%	$22.9M+210.8%
Investing Cash Flow	-$108.2M+87.7%	-$7.8M+34.8%	-$67.2M-1251.8%	-$876.6M-17373.5%	-$11.9M-15.6%	-$5.0M-30.9%	-$5.0M+85.2%	-$6.6M-82.1%
Financing Cash Flow	-$4.1M-100.2%	-$32K-100.6%	$1.9M-79.2%	$1.6B+46885.4%	$5.5M+145.2%	$9.1M+121.5%	-$3.5M-109.3%	-$14.0M-121.0%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

AVAV Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AVAV quarterly financial ratios

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	25.3%-13.5pp	38.8%-0.8pp	39.6%+7.5pp	32.1%+0.4pp	31.7%-10.0pp	41.7%0.0pp	41.7%+0.8pp	40.9%+1.1pp	39.7%-2.6pp	42.3%-2.9pp	45.2%+5.0pp	40.2%+3.0pp	37.2%-1.3pp	38.5%-1.3pp	39.8%
Operating Margin	-15.7%-20.7pp	5.0%-5.0pp	10.0%+43.1pp	-33.1%-30.8pp	-2.2%-13.2pp	11.0%-1.9pp	12.8%+2.1pp	10.8%-0.5pp	11.2%+2.2pp	9.1%+0.5pp	8.6%+7.8pp	0.8%-4.1pp	4.9%+3.3pp	1.6%-11.7pp	13.3%
Net Margin	-13.4%-18.7pp	5.3%-3.0pp	8.3%+40.9pp	-32.6%-31.6pp	-0.9%-6.9pp	5.9%-5.3pp	11.2%-3.9pp	15.1%+8.6pp	6.5%+0.8pp	5.7%+1.9pp	3.8%-1.2pp	5.0%-0.4pp	5.5%+1.1pp	4.3%-5.0pp	9.4%
Return on Equity	-6.0%-10.9pp	4.9%-2.3pp	7.2%+39.2pp	-32.0%-31.3pp	-0.7%-4.5pp	3.8%-4.2pp	8.1%-2.2pp	10.3%+5.9pp	4.3%+0.9pp	3.4%+0.9pp	2.5%-1.3pp	3.8%-0.3pp	4.0%+0.7pp	3.3%-6.9pp	10.2%
Return on Assets	-4.6%-8.5pp	3.9%-2.0pp	5.9%+27.2pp	-21.4%-20.9pp	-0.5%-3.0pp	2.5%-4.5pp	7.0%-2.3pp	9.3%+5.6pp	3.7%+0.7pp	3.0%+0.8pp	2.2%-1.1pp	3.3%-0.3pp	3.6%+0.7pp	2.9%-5.4pp	8.3%
Current Ratio	4.30+0.8x	3.520.0x	3.56-0.4x	3.93+0.3x	3.64-0.5x	4.18-3.4x	7.53-2.9x	10.47+4.0x	6.43-0.9x	7.37-0.1x	7.43+0.4x	7.04-1.1x	8.13+1.9x	6.24+1.8x	4.44
Debt-to-Equity	0.17+0.1x	0.030.0x	0.02-0.2x	0.23-0.1x	0.290.0x	0.31+0.2x	0.150.0x	0.10-0.1x	0.160.0x	0.130.0x	0.140.0x	0.140.0x	0.120.0x	0.15-0.1x	0.23
Asset Turnover	0.35-0.4x	0.730.0x	0.71+0.1x	0.66+0.2x	0.49+0.1x	0.43-0.2x	0.630.0x	0.620.0x	0.570.0x	0.530.0x	0.57-0.1x	0.650.0x	0.650.0x	0.66-0.2x	0.88
FCF Margin	-7.1%-4.6pp	-2.5%-1.5pp	-1.1%-0.4pp	-0.6%+6.5pp	-7.2%-26.2pp	19.1%+15.3pp	3.8%-2.0pp	5.7%-16.5pp	22.2%+29.8pp	-7.5%-7.5pp	0.0%-13.2pp	13.2%+2.5pp	10.7%+3.4pp	7.2%+6.1pp	1.2%

Metric	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q/A	Q2'2610-Q	Q4'2510-K	Q3'2510-Q/A	Q2'2510-Q	Q1'2510-Q
Gross Margin	25.9%+5.0pp	31.6%-4.9pp	24.2%-13.5pp	20.9%-18.1pp	36.5%-1.9pp	37.7%+1.6pp	39.1%-2.6pp	43.0%-0.1pp
Operating Margin	-2.3%+13.0pp	8.9%+3.9pp	-65.8%-64.0pp	-15.2%-19.0pp	5.0%+2.0pp	-1.8%-9.5pp	3.7%-10.2pp	12.2%-5.1pp
Net Margin	-1.1%+13.8pp	9.8%+3.8pp	-59.8%-58.7pp	-14.8%-18.8pp	6.1%+3.0pp	-1.1%-8.5pp	4.0%-5.9pp	11.2%-3.2pp
Return on Equity	-0.1%+1.4pp	1.4%-0.4pp	-5.8%-5.6pp	-1.5%-2.4pp	1.9%+1.1pp	-0.2%-1.9pp	0.9%-1.4pp	2.5%-1.3pp
Return on Assets	-0.1%+1.1pp	1.1%-0.4pp	-4.5%-4.4pp	-1.2%-1.9pp	1.5%+0.9pp	-0.2%-1.6pp	0.7%-1.0pp	2.1%-0.5pp
Current Ratio	4.26-1.7x	4.30+0.8x	5.51+1.3x	5.96+1.3x	3.520.0x	4.22-0.4x	4.61-0.2x	4.26-0.2x
Debt-to-Equity	0.170.0x	0.17+0.1x	0.17+0.1x	0.16+0.1x	0.030.0x	0.030.0x	0.02-0.1x	0.01-0.2x
Asset Turnover	0.080.0x	0.11-0.1x	0.08-0.1x	0.08-0.1x	0.25+0.1x	0.160.0x	0.180.0x	0.190.0x
FCF Margin	-6.4%+25.9pp	12.3%+14.3pp	-4.3%+13.3pp	-32.2%-27.6pp	-2.0%+8.5pp	-17.7%-43.8pp	-4.6%+3.7pp	12.1%+25.7pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
AeroVironment, Inc. AVAV	FY2026	$2.0B	-$265.1M	-13.4%	$7.1B	55/100
Kratos Defense & Security Solutions, Inc. KTOS	FY2025	$1.3B	$22.0M	1.6%	$8.0B	60/100
Leonardo DRS, Inc. DRS	FY2025	$3.6B	$278.0M	7.6%	$9.8B	69/100
Embraer S.A. ERJ	FY2025	$7.6B	$359.0M	4.7%	$11.8B	45/100
BWX Technologies, Inc. BWXT	FY2025	$3.2B	$328.9M	10.3%	$12.6B	64/100
Huntington Ingalls Industries, Inc. HII	FY2025	$12.5B	$605.0M	4.9%	$10.5B	46/100

Where AeroVironment, Inc. Ranks

Frequently Asked Questions

What is AeroVironment, Inc.'s annual revenue?

AeroVironment, Inc. (AVAV) reported $2.0B in total revenue for fiscal year 2026. This represents a 140.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is AeroVironment, Inc.'s revenue growing?

AeroVironment, Inc. (AVAV) revenue grew by 140.9% year-over-year, from $820.6M to $2.0B in fiscal year 2026.

Is AeroVironment, Inc. profitable?

No, AeroVironment, Inc. (AVAV) reported a net income of -$265.1M in fiscal year 2026, with a net profit margin of -13.4%.

What is AeroVironment, Inc.'s EBITDA?

AeroVironment, Inc. (AVAV) had EBITDA of -$46.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does AeroVironment, Inc. have?

As of fiscal year 2026, AeroVironment, Inc. (AVAV) had $377.3M in cash and equivalents against $729.0M in long-term debt.

What is AeroVironment, Inc.'s gross margin?

AeroVironment, Inc. (AVAV) had a gross margin of 25.3% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is AeroVironment, Inc.'s operating margin?

AeroVironment, Inc. (AVAV) had an operating margin of -15.7% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is AeroVironment, Inc.'s net profit margin?

AeroVironment, Inc. (AVAV) had a net profit margin of -13.4% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is AeroVironment, Inc.'s return on equity (ROE)?

AeroVironment, Inc. (AVAV) has a return on equity of -6.0% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is AeroVironment, Inc.'s free cash flow?

AeroVironment, Inc. (AVAV) recorded an outflow of $140.9M in free cash flow during fiscal year 2026. This represents a -575.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is AeroVironment, Inc.'s operating cash flow?

AeroVironment, Inc. (AVAV) recorded an outflow of $78.4M in operating cash flow during fiscal year 2026, representing cash used by core business activities.

What are AeroVironment, Inc.'s total assets?

AeroVironment, Inc. (AVAV) had $5.7B in total assets as of fiscal year 2026, including both current and long-term assets.

What are AeroVironment, Inc.'s capital expenditures?

AeroVironment, Inc. (AVAV) invested $62.5M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does AeroVironment, Inc. spend on research and development?

AeroVironment, Inc. (AVAV) invested $127.7M in research and development during fiscal year 2026.

How many shares does AeroVironment, Inc. have outstanding?

AeroVironment, Inc. (AVAV) had 51M shares outstanding as of fiscal year 2026.

What is AeroVironment, Inc.'s current ratio?

AeroVironment, Inc. (AVAV) had a current ratio of 4.30 as of fiscal year 2026, which is generally considered healthy.

What is AeroVironment, Inc.'s debt-to-equity ratio?

AeroVironment, Inc. (AVAV) had a debt-to-equity ratio of 0.17 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is AeroVironment, Inc.'s return on assets (ROA)?

AeroVironment, Inc. (AVAV) had a return on assets of -4.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is AeroVironment, Inc.'s P/E ratio?

AeroVironment, Inc. (AVAV) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2026). The market capitalization is $7.1B as of Oct 1, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is AeroVironment, Inc.'s price-to-sales ratio?

AeroVironment, Inc. (AVAV) trades at 3.6x sales, its market capitalization divided by revenue of $2.0B revenue, FY2026. The market capitalization is $7.1B as of Oct 1, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does AeroVironment, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2026, AeroVironment, Inc. (AVAV) held $713.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $78.4M over that year. Dividing the one by the other, the reported balance equals about 109 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is AeroVironment, Inc.'s Altman Z-Score?

AeroVironment, Inc. (AVAV) has an Altman Z-Score of 3.72, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is AeroVironment, Inc.'s Piotroski F-Score?

AeroVironment, Inc. (AVAV) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are AeroVironment, Inc.'s earnings high quality?

AeroVironment, Inc. (AVAV) reported a net loss of $265.1M while operations used $78.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can AeroVironment, Inc. cover its interest payments?

AeroVironment, Inc. (AVAV) reported an operating loss of $311.0M against $24.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is AeroVironment, Inc.?

AeroVironment, Inc. (AVAV) scores 55 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.