Tearsheet

Air Industries (AIRI)


Market Price (1/27/2026): $3.39 | Market Cap: $14.1 Mil
Sector: Industrials | Industry: Aerospace & Defense

Air Industries (AIRI)


Market Price (1/27/2026): $3.39
Market Cap: $14.1 Mil
Sector: Industrials
Industry: Aerospace & Defense

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Low stock price volatility
Vol 12M is 49%
Weak multi-year price returns
2Y Excs Rtn is -58%, 3Y Excs Rtn is -116%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -0.5 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.0%
1 Megatrend and thematic drivers
Megatrends include Advanced Aviation & Space. Themes include Aerospace Component Manufacturing, and Advanced Air Mobility Components.
  Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 213%
2   Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -6.8%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.9%, Rev Chg QQuarterly Revenue Change % is -18%
3   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.5%
4   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19%
5   Key risks
AIRI key risks include [1] substantial liquidity concerns, Show more.
0 Low stock price volatility
Vol 12M is 49%
1 Megatrend and thematic drivers
Megatrends include Advanced Aviation & Space. Themes include Aerospace Component Manufacturing, and Advanced Air Mobility Components.
2 Weak multi-year price returns
2Y Excs Rtn is -58%, 3Y Excs Rtn is -116%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -0.5 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.0%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 213%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -6.8%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.9%, Rev Chg QQuarterly Revenue Change % is -18%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.5%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19%
8 Key risks
AIRI key risks include [1] substantial liquidity concerns, Show more.

Valuation, Metrics & Events

AIRI Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

Air Industries (AIRI) stock has gained about 5% since 9/30/2025 because of the following key factors:

1. Improved Q3 2025 Financial Performance Offset by Historical Underperformance: Air Industries reported significantly improved profitability and operational efficiency in Q3 2025, with a net loss reduced to $44,000 and positive operating income. However, this positive news followed a period where the stock had lost approximately 26.8% since the beginning of 2025 (as of November 2025), suggesting that the recent improvements were largely balancing out prior underperformance rather than driving significant new growth.

2. Increased Debt and Liquidity Concerns: Despite operational improvements, the company experienced an increase in total debt by approximately $2.4 million and a rise in inventory by $5.6 million in Q3 2025, which could tie up capital. Discussions were ongoing for refinancing or extending credit facilities, with a credit facility maturing at the end of December 2025, indicating potential financial obligations and liquidity concerns that likely tempered investor optimism.

Show more

Stock Movement Drivers

Fundamental Drivers

The 6.7% change in AIRI stock from 9/30/2025 to 1/26/2026 was primarily driven by a 23.9% change in the company's P/S Multiple.
(LTM values as of)93020251262026Change
Stock Price ($)3.133.346.7%
Change Contribution By: 
Total Revenues ($ Mil)5250-4.3%
P/S Multiple0.20.323.9%
Shares Outstanding (Mil)44-10.0%
Cumulative Contribution6.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 1/26/2026
ReturnCorrelation
AIRI6.7% 
Market (SPY)4.0%37.7%
Sector (XLI)6.6%36.8%

Fundamental Drivers

The -0.6% change in AIRI stock from 6/30/2025 to 1/26/2026 was primarily driven by a -12.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)63020251262026Change
Stock Price ($)3.363.34-0.6%
Change Contribution By: 
Total Revenues ($ Mil)5350-5.9%
P/S Multiple0.20.320.4%
Shares Outstanding (Mil)44-12.2%
Cumulative Contribution-0.6%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 1/26/2026
ReturnCorrelation
AIRI-0.6% 
Market (SPY)12.4%31.9%
Sector (XLI)11.9%35.5%

Fundamental Drivers

The -17.9% change in AIRI stock from 12/31/2024 to 1/26/2026 was primarily driven by a -19.5% change in the company's Shares Outstanding (Mil).
(LTM values as of)123120241262026Change
Stock Price ($)4.073.34-17.9%
Change Contribution By: 
Total Revenues ($ Mil)5450-6.8%
P/S Multiple0.30.39.3%
Shares Outstanding (Mil)34-19.5%
Cumulative Contribution-17.9%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2024 to 1/26/2026
ReturnCorrelation
AIRI-17.9% 
Market (SPY)19.2%30.0%
Sector (XLI)26.0%31.6%

Fundamental Drivers

The -21.4% change in AIRI stock from 12/31/2022 to 1/26/2026 was primarily driven by a -22.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)123120221262026Change
Stock Price ($)4.253.34-21.4%
Change Contribution By: 
Total Revenues ($ Mil)5550-8.7%
P/S Multiple0.30.310.4%
Shares Outstanding (Mil)34-22.0%
Cumulative Contribution-21.4%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2022 to 1/26/2026
ReturnCorrelation
AIRI-21.4% 
Market (SPY)87.9%11.1%
Sector (XLI)74.7%16.0%

Return vs. Risk


Price Returns Compared

 202120222023202420252026Total [1]
Returns
AIRI Return-26%-53%-24%25%-25%7%-73%
Peers Return-1%4%31%19%40%10%148%
S&P 500 Return27%-19%24%23%16%1%84%

Monthly Win Rates [3]
AIRI Win Rate25%17%33%67%42%100% 
Peers Win Rate48%50%60%62%65%100% 
S&P 500 Win Rate75%42%67%75%67%100% 

Max Drawdowns [4]
AIRI Max Drawdown-26%-54%-38%-5%-31%0% 
Peers Max Drawdown-15%-16%-6%-8%-11%0% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: TDG, HEI, HXL, WWD, DCO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 1/26/2026 (YTD)

How Low Can It Go

Unique KeyEventAIRIS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-87.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven673.6%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-77.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven347.9%51.3%
2020 Covid PandemicTime to BreakevenTime to BreakevenNot Fully Recovered days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-84.8%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven557.0%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-97.5%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven3900.0%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1,480 days

Compare to TDG, HEI, HXL, WWD, DCO

In The Past

Air Industries's stock fell -87.1% during the 2022 Inflation Shock from a high on 2/18/2021. A -87.1% loss requires a 673.6% gain to breakeven.

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Asset Allocation

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About Air Industries (AIRI)

Air Industries Group, an aerospace and defense company, designs, manufactures, and sells structural parts and assemblies for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense in the United States. The company operates through two segments, Complex Machining and Turbine and Engine Component. The Complex Machining segment offers aircraft landing and arresting gears, engine mounts, flight controls, throttle quadrants, and other components. Its products are deployed on a range of military and commercial aircraft, including Sikorsky's UH-60 Blackhawk, Lockheed Martin F-35 Joint Strike Fighter, Northrop Grumman E2D Hawkeye, the US Navy F-18, and USAF F-16 and F-15 fighter aircraft. The Turbine and Engine Component segment makes components and provides services for aircraft jet engines and ground-power turbines. Its jet engine components are used on the USAF F-15 and F-16, the Airbus A-330, the Boeing 777, and others, as well as ground-power turbine applications. The company's products are used by original equipment manufacturers in the manufacture of fixed wing aircraft, helicopters jet turbine engines, and other complex aerospace and defense products. Air Industries Group was founded in 1979 and is headquartered in Bay Shore, New York.

AI Analysis | Feedback

AIRI is like the Intel or NVIDIA, but for the essential structural components of commercial and military aircraft.

AIRI is like the Bosch or Magna International of the aerospace industry, supplying critical parts for planes and defense systems.

AI Analysis | Feedback

  • Precision Aerospace and Defense Components: Manufacturing of high-tolerance, complex machined parts and sub-assemblies for commercial and military aircraft, missile systems, and other defense applications.
  • Integrated Aerospace Assemblies: Production and assembly of critical structural, mechanical, and electrical components, including complete aircraft landing gear systems.
  • Commercial and Industrial Components: Manufacturing of specialized parts for ground-based power platforms, marine applications, and general industrial use.

AI Analysis | Feedback

Air Industries Group (symbol: AIRI) primarily sells its products to other companies, specifically prime aerospace and defense contractors, commercial airlines, and original equipment manufacturers (OEMs).

Its major customers, as identified in recent regulatory filings, include:

AI Analysis | Feedback

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AI Analysis | Feedback

Luciano M. Melluzzo, President and Chief Executive Officer

Luciano Melluzzo joined Air Industries Group in 2017 and has over 35 years of experience in the aerospace machining business. Prior to his current role, he served as Chief Operating Officer and Chief of Business Development for EDAC Technologies, a Nasdaq-listed company that developed and manufactured complex rotating parts for jet engine applications. He also held the position of General Manager for Polar Corporation, a privately-held company specializing in commercial and military aerospace components. Mr. Melluzzo is recognized for his extensive experience in turnaround management, business restructuring, and achieving operational excellence.

Scott A. Glassman, Chief Financial Officer, Principal Accounting Officer and Secretary

Scott Glassman was promoted to Chief Financial Officer, Principal Accounting Officer, and Secretary in 2023, having previously served as the company's Chief Accounting Officer since 2019. He has a long tenure with Air Industries Group, holding various senior financial positions from 2007 to 2015 and again from 2019 to the present. Mr. Glassman has been a Certified Public Accountant (CPA) in New York since 2002.

Michael Recca, Director of Strategic Projects

Michael Recca has been with Air Industries Group for over 15 years, and until October 2023, he served as the Chief Financial Officer. His prior leadership experience includes serving as President and Chief Operating Officer of Sky Capital Holdings Ltd. Group, which was listed on the AIM division of the London Stock Exchange. Additionally, Mr. Recca was the Chairman and Chief Executive Officer of Harvey Electronics, Inc., a company listed on Nasdaq.

Michael Biancospino, President and General Manager, Air Industries Machining Corporation and Nassau Tool Works

Michael Biancospino was appointed President and General Manager of Air Industries Machining Corporation and Nassau Tool Works in October 2022. He joined Air Industries in 2004 as a manufacturing engineer, where he developed manufacturing work instructions, 3D CAD models, and process plans. He was a key contributor to the implementation of the company's ERP system and led the development efforts for the E-2D landing gear program. Mr. Biancospino later became the Director of Engineering, overseeing all Manufacturing Engineering, N/C Programming, and tool design.

Gary Settoducato, Vice President of Business Development

Gary Settoducato was appointed Vice President of Business Development in 2017, bringing over 30 years of experience in the aerospace industry. Before this role, he served as Executive Vice President of Air Industries Machining, a subsidiary, and spent seven years as President of the Group's Welding Metallurgy subsidiary. Mr. Settoducato has held various senior management positions at Air Industries and other aerospace firms on Long Island.

AI Analysis | Feedback

The key risks to Air Industries Group's (AIRI) business include:

  1. Financial Health and Liquidity: Air Industries Group faces significant financial challenges, including widening losses, failing its Fixed Charge Coverage Ratio, and issues with debt maturities and covenants. The company has also received "going concern" audit warnings, indicating substantial liquidity concerns.
  2. Heavy Reliance on Government Defense Spending: Approximately 90% of the company's revenue is derived from products for US military aviation, making its financial performance highly susceptible to reductions in government defense spending.
  3. Intense Competition and Fixed-Price Contracts: The defense and aerospace component manufacturing market is highly competitive, with many competitors possessing significantly greater technical, manufacturing, financial, and marketing resources. Additionally, due to fixed contract pricing, the company is exposed to reduced profitability and the potential loss of future business if contract costs increase.

AI Analysis | Feedback

The increasing adoption of additive manufacturing (3D printing) by aerospace and defense original equipment manufacturers (OEMs). This technology offers the ability to produce complex, lightweight components with reduced lead times and material waste, potentially displacing the demand for traditional precision machining, fabrication, and assembly services that form the core of Air Industries' business.

AI Analysis | Feedback

Air Industries Group (AIRI) operates as a manufacturer of precision components and assemblies primarily for the aerospace and defense industries. Their main products and services encompass a range of structural parts and assemblies critical for flight safety, including landing gear, arresting gear, engine mounts, flight controls, and components for aircraft jet engines and ground turbines. The company also offers sheet metal fabrication, tube bending, and welding services.

Based on their product offerings, the addressable markets for Air Industries Group can be identified within the broader aerospace and defense sector, as well as more specific segments such as aerostructures and aircraft engine components. These markets are global, with North America often holding a significant share.

  • Global Aerospace and Defense Market: This overarching market, which includes precision components and assemblies, was valued at approximately USD 750 billion in 2022 and is projected to grow to about USD 1,388 billion by 2030, with a compound annual growth rate (CAGR) of roughly 8.2% between 2023 and 2030. North America held the largest share of this market in 2024.
  • Global Aerostructures Market: This market directly addresses Air Industries' production of structural parts like landing gear, flight controls, and engine mounts. The global aerostructures market size was valued at USD 71.16 billion in 2024 and is expected to reach USD 130.82 billion by 2033, growing at a CAGR of 7.0% during the forecast period (2025-2033). North America accounted for the largest share in this market, with the U.S. aerostructures market estimated at USD 23.68 billion in 2024, projected to expand to around USD 46.32 billion by 2034.
  • Global Aircraft Engine Parts and Equipment Market: Air Industries also manufactures components for aircraft jet engines. This market was valued at USD 271.6 billion in 2023 and is estimated to reach USD 438.6 billion by 2032, growing at a CAGR of 5.6% from 2024 to 2032. The North American aircraft engine parts and equipment market value was approximately USD 97.8 billion in 2023.

AI Analysis | Feedback

The future revenue growth of Air Industries (AIRI) over the next 2-3 years is expected to be primarily driven by several key factors. Despite some recent and forecasted short-term revenue declines, the company has secured significant new business that is anticipated to contribute to top-line expansion in the medium term. Here are the expected drivers of future revenue growth: * Conversion of Record Backlog into Sales: Air Industries has achieved record backlog levels in the first half of 2025. This substantial backlog, including significant contracts like a $5 million deal for B-52 aircraft components, is expected to begin contributing to revenue from 2026 onwards. The realization of these previously secured orders will be a fundamental driver of increased sales. * New Long-Term Agreements: In 2024, Air Industries secured six new long-term agreements valued at nearly $60 million. These agreements provide a strong foundation for sustained revenue, with the revenue from these contracts expected to flow in over their respective durations. * Growth in Aftermarket Products and New Orders: The company has continued to secure new orders from both new and existing clients, including over $10 million in new orders specifically for aftermarket products. This indicates ongoing demand for their components and services beyond initial equipment sales, providing a recurring revenue stream. * Operational Improvements and Efficiency Gains: While not a direct revenue driver, the company's focus on operational improvements and cost-cutting initiatives, which are expected to save approximately $1 million annually, can indirectly support revenue growth by improving profitability and freeing up resources for investment in growth opportunities. CEO Lou Maluza expressed optimism about the company's operational trajectory in 2024, stating that operations are "running as smooth as silk."

AI Analysis | Feedback

Share Issuance

  • In 2025, Air Industries Group successfully completed an at-the-market (ATM) offering, raising approximately $4.0 million in gross proceeds from the sale of common shares.
  • This share issuance was undertaken to strengthen the company's balance sheet and reduce or eliminate subordinate debt.

Capital Expenditures

  • Air Industries Group is a manufacturer of precision components and assemblies for large aerospace and defense prime contractors.
  • The company's primary focus is on producing flight-critical components, government defense contracts, and commercial aviation partnerships, including landing gear systems, engine mounts, and structural assemblies.

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Peer Comparisons for Air Industries

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Financials

AIRITDGHEIHXLWWDDCOMedian
NameAir Indu.TransDigmHeico Hexcel Woodward Ducommun  
Mkt Price3.341,435.96336.1582.02331.18110.46220.82
Mkt Cap0.083.646.86.519.81.713.2
Rev LTM508,8304,4851,8763,5678062,722
Op Inc LTM-14,1881,01911947967299
FCF LTM-51,81686119434045267
FCF 3Y Avg-11,64462516730529236
CFO LTM-12,03893426847160369
CFO 3Y Avg21,81968525640646331

Growth & Margins

AIRITDGHEIHXLWWDDCOMedian
NameAir Indu.TransDigmHeico Hexcel Woodward Ducommun  
Rev Chg LTM-6.8%11.2%16.3%-0.5%7.3%3.2%5.2%
Rev Chg 3Y Avg-2.9%17.7%26.9%7.8%14.6%5.4%11.2%
Rev Chg Q-17.9%11.5%19.3%-0.1%16.5%5.5%8.5%
QoQ Delta Rev Chg LTM-4.3%2.9%4.6%-0.0%4.1%1.4%2.2%
Op Mgn LTM-1.0%47.4%22.7%6.3%13.4%8.3%10.9%
Op Mgn 3Y Avg-0.7%45.6%21.7%10.0%11.9%7.2%11.0%
QoQ Delta Op Mgn LTM0.4%1.1%0.4%-0.9%1.1%0.3%0.4%
CFO/Rev LTM-1.9%23.1%20.8%14.3%13.2%7.4%13.7%
CFO/Rev 3Y Avg3.2%23.2%17.8%13.9%12.3%5.9%13.1%
FCF/Rev LTM-9.5%20.6%19.2%10.3%9.5%5.5%9.9%
FCF/Rev 3Y Avg-1.9%21.0%16.2%9.0%9.3%3.7%9.1%

Valuation

AIRITDGHEIHXLWWDDCOMedian
NameAir Indu.TransDigmHeico Hexcel Woodward Ducommun  
Mkt Cap0.083.646.86.519.81.713.2
P/S0.39.510.43.55.62.14.5
P/EBIT-78.219.945.754.735.0-48.427.4
P/E-6.940.367.895.144.9-47.842.6
P/CFO-14.841.050.124.542.127.734.4
Total Yield-14.5%14.0%1.5%1.5%2.6%-2.1%1.5%
Dividend Yield0.0%11.5%0.1%0.4%0.3%0.0%0.2%
FCF Yield 3Y Avg-4.2%2.3%1.8%3.0%2.7%2.7%2.5%
D/E2.10.40.00.10.00.20.1
Net D/E2.10.30.00.10.00.10.1

Returns

AIRITDGHEIHXLWWDDCOMedian
NameAir Indu.TransDigmHeico Hexcel Woodward Ducommun  
1M Rtn8.1%9.7%0.4%7.7%6.4%14.5%7.9%
3M Rtn1.8%6.0%6.4%11.1%24.4%18.7%8.8%
6M Rtn-4.3%-4.5%3.8%33.3%28.4%21.8%12.8%
12M Rtn-24.4%14.4%42.8%22.7%77.1%58.9%32.8%
3Y Rtn-35.5%136.4%98.1%24.5%205.0%96.6%97.3%
1M Excs Rtn-4.9%8.7%-1.1%6.7%4.2%12.3%5.4%
3M Excs Rtn-2.5%3.2%2.7%12.7%22.5%7.4%5.3%
6M Excs Rtn-13.9%-13.3%-4.9%26.1%20.2%13.3%4.2%
12M Excs Rtn-37.7%0.1%27.4%3.8%62.3%46.1%15.6%
3Y Excs Rtn-116.2%76.2%31.8%-37.0%144.1%26.2%29.0%

Financials

Segment Financials

Revenue by Segment
$ Mil2024
COMPLEX MACHINING38
TURBINE ENGINE COMPONENTS7
AEROSTRUCTURES & ELECTRONICS5
Total50


Assets by Segment
$ Mil2024
COMPLEX MACHINING43
Assets Held for Sale10
TURBINE ENGINE COMPONENTS6
AEROSTRUCTURES & ELECTRONICS1
CORPORATE0
Total61


Price Behavior

Price Behavior
Market Price$3.34 
Market Cap ($ Bil)0.0 
First Trading Date10/05/2000 
Distance from 52W High-24.4% 
   50 Days200 Days
DMA Price$3.07$3.25
DMA Trenddownindeterminate
Distance from DMA8.9%2.7%
 3M1YR
Volatility52.6%49.4%
Downside Capture182.73124.66
Upside Capture182.5578.41
Correlation (SPY)34.5%30.4%
AIRI Betas & Captures as of 12/31/2025

 1M2M3M6M1Y3Y
Beta2.491.821.471.410.750.60
Up Beta3.351.481.361.630.420.52
Down Beta-2.34-0.110.490.870.800.31
Up Capture490%242%189%123%66%39%
Bmk +ve Days11233772143431
Stock +ve Days10182654104330
Down Capture352%250%190%171%116%101%
Bmk -ve Days11182755108320
Stock -ve Days10203258122376

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AIRI
AIRI-22.1%49.4%-0.35-
Sector ETF (XLI)17.3%19.0%0.7132.4%
Equity (SPY)14.7%19.3%0.5830.3%
Gold (GLD)84.5%20.5%2.905.4%
Commodities (DBC)9.2%15.4%0.3712.6%
Real Estate (VNQ)4.0%16.5%0.0613.6%
Bitcoin (BTCUSD)-14.0%39.8%-0.2921.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AIRI
AIRI-25.1%75.5%-0.09-
Sector ETF (XLI)14.7%17.2%0.6916.7%
Equity (SPY)14.3%17.1%0.6713.1%
Gold (GLD)22.1%15.7%1.140.5%
Commodities (DBC)12.0%18.7%0.524.0%
Real Estate (VNQ)5.2%18.8%0.1911.2%
Bitcoin (BTCUSD)20.0%57.9%0.554.3%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AIRI
AIRI-26.2%75.9%-0.08-
Sector ETF (XLI)14.9%19.8%0.6716.9%
Equity (SPY)15.8%17.9%0.7614.4%
Gold (GLD)16.2%14.9%0.900.4%
Commodities (DBC)8.7%17.6%0.417.8%
Real Estate (VNQ)5.9%20.8%0.2513.2%
Bitcoin (BTCUSD)73.4%66.6%1.123.2%

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Short Interest

Short Interest: As Of Date12312025
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 12152025215.9%
Average Daily Volume0.5 Mil
Days-to-Cover Short Interest1
Basic Shares Quantity4.1 Mil
Short % of Basic Shares1.7%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/14/2025-0.3%-4.1%-3.1%
8/14/2025-13.9%-10.4%-2.4%
3/31/2025-3.1%-11.7%1.1%
10/16/20245.1%3.9%0.1%
12/7/2023-0.2%2.7%7.4%
7/10/2023-0.1%2.5%-10.7%
4/20/20232.1%-2.1%-6.3%
SUMMARY STATS   
# Positive233
# Negative544
Median Positive3.6%2.7%1.1%
Median Negative-0.3%-7.2%-4.7%
Max Positive5.1%3.9%7.4%
Max Negative-13.9%-11.7%-10.7%

SEC Filings

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Report DateFiling DateFiling
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03/31/202505/15/202510-Q
12/31/202404/15/202510-K
09/30/202411/14/202410-Q
06/30/202408/14/202410-Q
03/31/202405/15/202410-Q
12/31/202304/15/202410-K
09/30/202312/06/202310-Q
06/30/202308/18/202310-Q
03/31/202308/11/202310-Q
12/31/202205/16/202310-K
09/30/202211/14/202210-Q
06/30/202208/22/202210-Q
03/31/202205/11/202210-Q
12/31/202103/25/202210-K