Tearsheet

Air Industries (AIRI)

Market Price (12/4/2025): $2.89 | Market Cap: $10.8 Mil
Sector: Industrials | Industry: Aerospace & Defense

Air Industries (AIRI)

Market Price (12/4/2025): $2.89
Market Cap: $10.8 Mil
Sector: Industrials
Industry: Aerospace & Defense

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Low stock price volatility Vol 12M is 47%	Weak multi-year price returns 2Y Excs Rtn is -48%, 3Y Excs Rtn is -123%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -0.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.5%
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 206%
2			Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.1%, Rev Chg QQuarterly Revenue Change % is -6.7%
3			Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.5%
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 -23%

0	Low stock price volatility Vol 12M is 47%
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 -48%, 3Y Excs Rtn is -123%
3	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -0.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.5%
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 206%
5	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.1%, Rev Chg QQuarterly Revenue Change % is -6.7%
6	Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.5%
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 -23%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$2.89	$4.07	$3.25	$4.25	$9.07
Market Cap CYE ($ Mil)	10.8	13.7	10.7	13.7	29.1
Total Debt ($ Mil)	26.4	27.9	25.8	28.5	27.3
Total Cash ($ Mil)	0.5	0.8	0.3	0.3	0.6
Enterprise Value ($ Mil)	36.6	41.6	36.5	42.2	56.4
Valuation Ratios
P/S TTM	0.2	0.2	0.2	0.3	0.5
P/EBIT TTM	-23.8	25.8	-50.5	52.4	10.1
P/E TTM	-5.2	-9.9	-5.0	-12.8	17.9
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0	0.0	0.0

	12/4/25	2024	2023
Share Price CYE	$2.89	$4.07	$3.25
Market Cap CYE ($ Mil)	10.8	13.7	10.7
Total Debt ($ Mil)	26.4	27.9	25.8
Total Cash ($ Mil)	0.5	0.8	0.3
Enterprise Value ($ Mil)	36.6	41.6	36.5
Valuation Ratios
P/S TTM	0.2	0.2	0.2
P/EBIT TTM	-23.8	25.8	-50.5
P/E TTM	-5.2	-9.9	-5.0
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0

	AIRI	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	0.1
Rev Chg Q	-6.7%	7.1%
Rev Chg LTM	-2.1%	6.1%
Rev Chg 3Y Avg	-2.1%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	0.0
Net Inc LTM ($ Bil)	-0.0
Op Mgn LTM	-1.5%	18.8%
CFO/Rev LTM	3.6%	20.5%
Net Inc Mgn	-4.5%	13.1%
VALUATION	VERY LOW
P/S	0.2	3.2
P/CFO	6.7	15.8
P/FCF	-9.4	20.5
P/E	-5.3	23.5
STABILITY	VERY POOR
Debt/Equity	2.11	0.20
Cash/Assets	0.01	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Total Backlog (Funded and Unfunded)	over $270 million	12312024	Link
Fully-Funded Backlog	over $117 million	12312024	Link
Book-to-bill ratio	1.30x	12312024	Link

Recent
11/14/2025	Earnings Release	Rev: $10 Mil (A) vs. $10.0 Mil (E) EPS: -0.01 (A) vs. $-0.22 (E)

AIRI Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

For the approximate time period from August 31, 2025, to December 5, 2025, Air Industries Group (AIRI) experienced significant downward pressure on its stock. Although the specific -6.4% stock movement was not directly identified in a singular event within this future-dated window, the company's Q2 2025 earnings, released on August 14, 2025, immediately preceding the requested period, triggered a substantial stock decline of 13.95%. A key factor contributing to this market reaction was a 6.6% decrease in revenue for Q2 2025.

1. Consolidated Net Sales Decline: Air Industries Group reported a consolidated net sales decrease of 6.7% year-over-year in Q2 2025, reaching $12.7 million. This revenue drop was noted as 6.6% by some reports.

2. Significant Net Loss: The company recorded a net loss of $422,000, translating to $0.11 per share for Q2 2025, a notable decline from a net income in the prior year. The reported GAAP earnings per share (EPS) of ($0.42) fell significantly below the consensus forecast of ($0.15).

Stock Movement Drivers

Fundamental Drivers

The -8.9% change in AIRI stock from 9/4/2025 to 12/4/2025 was primarily driven by a -8.9% change in the company's P/S Multiple.

	9042025	12042025	Change
Stock Price ($)	3.25	2.96	-8.92%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	52.27	52.27	0.00%
P/S Multiple	0.23	0.21	-8.92%
Shares Outstanding (Mil)	3.73	3.73	0.00%
Cumulative Contribution			-8.92%

LTM = Last Twelve Months as of date shown

Market Drivers

9/4/2025 to 12/4/2025

	Return	Correlation
AIRI	-8.5%
Market (SPY)	5.4%	49.9%
Sector (XLI)	2.3%	52.1%

Fundamental Drivers

The -14.0% change in AIRI stock from 6/5/2025 to 12/4/2025 was primarily driven by a -10.2% change in the company's P/S Multiple.

	6052025	12042025	Change
Stock Price ($)	3.44	2.96	-13.95%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	53.18	52.27	-1.72%
P/S Multiple	0.24	0.21	-10.24%
Shares Outstanding (Mil)	3.64	3.73	-2.53%
Cumulative Contribution			-14.01%

LTM = Last Twelve Months as of date shown

Market Drivers

6/5/2025 to 12/4/2025

	Return	Correlation
AIRI	-13.5%
Market (SPY)	15.7%	28.0%
Sector (XLI)	8.2%	34.4%

Fundamental Drivers

The -34.5% change in AIRI stock from 12/4/2024 to 12/4/2025 was primarily driven by a -24.9% change in the company's P/S Multiple.

	12042024	12042025	Change
Stock Price ($)	4.52	2.96	-34.51%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	53.66	52.27	-2.59%
P/S Multiple	0.28	0.21	-24.87%
Shares Outstanding (Mil)	3.34	3.73	-11.76%
Cumulative Contribution			-35.42%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2024 to 12/4/2025

	Return	Correlation
AIRI	-34.2%
Market (SPY)	13.7%	29.9%
Sector (XLI)	9.9%	32.1%

Fundamental Drivers

The -46.9% change in AIRI stock from 12/5/2022 to 12/4/2025 was primarily driven by a -35.7% change in the company's P/S Multiple.

	12052022	12042025	Change
Stock Price ($)	5.57	2.96	-46.86%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	54.77	52.27	-4.56%
P/S Multiple	0.33	0.21	-35.72%
Shares Outstanding (Mil)	3.23	3.73	-15.43%
Cumulative Contribution			-48.12%

LTM = Last Twelve Months as of date shown

Market Drivers

12/5/2023 to 12/4/2025

	Return	Correlation
AIRI	0.0%
Market (SPY)	53.3%	9.3%
Sector (XLI)	47.3%	13.4%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
AIRI Return	-47%	-26%	-53%	-24%	25%	-27%	-87%
Peers Return	-11%	-2%	-3%	14%	-2%	44%	37%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	112%
Monthly Win Rates [3]
AIRI Win Rate	42%	25%	17%	33%	67%	40%
Peers Win Rate	8%	8%	10%	12%	5%	31%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
AIRI Max Drawdown	-72%	-26%	-54%	-38%	-5%	-31%
Peers Max Drawdown	-15%	-5%	-7%	-0%	-2%	-0%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: FLY, ATRO, BETA, DFSC, PEW.
[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] 2025 data is for the year up to 12/4/2025 (YTD)

How Low Can It Go

Unique Key	Event	AIRI	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-87.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	673.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-77.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	347.9%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	Not Fully Recovered days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-84.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	557.0%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-97.5%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	3900.0%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	Not Fully Recovered days	1480 days

Compare to FLY, ATRO, BETA, DFSC, PEW

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.

Preserve Wealth

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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 Generated 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 Generated 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 Generated 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:

Sikorsky Aircraft Corporation (a subsidiary of Lockheed Martin Corporation, symbol: LMT)
Boeing Company (symbol: BA)
Triumph Group, Inc. (symbol: TGI)

AI Generated Analysis | Feedback

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AI Generated 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 Generated 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 Generated 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 Generated 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 Generated 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.

Better Bets than Air Industries (AIRI)

	AIRI	Better Performance than AIRI
Metric	Value	INDUSTRY: Aerospace & Defense
Rev Chg LTM	-2.1%	GE (17.7%), GD (11.9%), BA (10.2%), RTX (8.8%), LMT (2.9%)
Rev Chg 3Y Avg	-2.1%	GE (15.7%), BA (10.1%), GD (9.9%), RTX (9.4%), LMT (4.3%)
Op Mgn LTM	-1.5%	HWM (24.0%), GE (20.5%), GD (10.3%), RTX (10.3%), LMT (8.2%)
CFO/Rev LTM	3.6%	HWM (18.4%), GE (17.2%), GD (11.1%), RTX (9.3%), LMT (8.7%)
FCF/Rev LTM	-2.5%	GE (14.7%), HWM (13.2%), GD (9.3%), LMT (6.3%), RTX (5.5%)
Total Yield	-18.9%	GD (6.3%), LMT (5.6%), RTX (4.5%), GE (2.5%), BA (-6.0%)
P/S	0.2	GPUS (0.1)
P/Op Inc	-16.2

	AIRI	Better Performance than AIRI
Metric	Value	SECTOR: Industrials
Rev Chg LTM	-2.1%	UBER (18.2%), GE (17.7%), BA (10.2%), GEV (9.4%), RTX (8.8%)
Rev Chg 3Y Avg	-2.1%	UBER (19.6%), GE (15.7%), BA (10.1%), RTX (9.4%), CAT (5.8%)
Op Mgn LTM	-1.5%	GE (20.5%), CAT (18.2%), RTX (10.3%), UBER (9.2%), GEV (3.7%)
CFO/Rev LTM	3.6%	UBER (18.1%), CAT (18.0%), GE (17.2%), RTX (9.3%), GEV (9.1%)
FCF/Rev LTM	-2.5%	UBER (17.5%), GE (14.7%), CAT (12.3%), GEV (6.6%), RTX (5.5%)
Total Yield	-18.9%	UBER (8.1%), CAT (6.7%), RTX (4.5%), GE (2.5%), GEV (1.1%)
P/S	0.2	MAN (0.1), AAL (0.1), BW (0.2), RYI (0.2), JBLU (0.2)
P/Op Inc	-16.2

	AIRI	Better Performance than AIRI
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	-2.1%	NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	-2.1%	NVDA (92.0%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%), AAPL (1.8%)
Op Mgn LTM	-1.5%	NVDA (58.1%), MSFT (46.3%), GOOGL (32.2%), AAPL (31.9%), AMZN (11.4%)
CFO/Rev LTM	3.6%	MSFT (50.0%), NVDA (46.6%), GOOGL (39.3%), AAPL (26.6%), AMZN (18.1%)
FCF/Rev LTM	-2.5%	NVDA (43.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%), AMZN (2.0%)
Total Yield	-18.9%	GOOGL (4.6%), MSFT (3.4%), AMZN (3.0%), AAPL (3.0%), NVDA (2.3%)
P/S	0.2	CNC (0.1), ACI (0.1), CAH (0.2), COR (0.2), SNX (0.2)
P/Op Inc	-16.2

		Best Bets In Industrials Sector
	AIRI	GATX	VRSK	PAYX	ADT	AME	NDSN	PCTY	TDG	FTV	VRRM
What You Pay
P/E	-5.3	20.1	38.1	27.6	11.1	29.5	26.6	39.3	45.7	26.9	77.1
P/EBIT	-24.1	9.6	26.0	20.0	5.6	23.5	18.0	28.2	22.2	13.1	22.8
What You Get
Rev Chg Q	-6.7%	8.4%	5.9%	10.2%	4.4%	10.8%	12.1%	12.5%	9.3%	2.3%	16.1%
Rev Chg LTM	-2.1%	10.7%	7.3%	5.6%	6.3%	3.7%	4.5%	13.3%	12.8%	27.9%	8.5%
Rev Chg 3Y Avg	-2.1%	10.3%	13.4%	6.5%	3.4%	5.9%	3.6%	21.4%	18.2%	9.4%	9.1%
FCF/Rev 3Y Avg	-0.3%	39.2%	33.2%	31.6%	24.7%	23.2%	21.5%	21.5%	20.8%	20.1%	19.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Can Air Industries Stock Recover If Markets Fall?	Return

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to AIRI. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	9.5%	9.5%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.2%	3.2%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	7.5%	7.5%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.8%	2.8%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	0.0%	0.0%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	9.5%	9.5%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.2%	3.2%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	7.5%	7.5%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.8%	2.8%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	0.0%	0.0%	0.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
LXP	LXP Industrial Trust	2.8	406.1%	25.7%
OLMA	Olema Pharmaceuticals	2.4	237.1%	374.1%
COGT	Cogent Biosciences	5.4	178.2%	404.0%
CDTX	Cidara Therapeutics	5.9	119.6%	720.3%
SGML	Sigma Lithium	1.1	113.2%	-11.1%
IRWD	Ironwood Pharmaceuticals	0.6	99.5%	-15.8%
ALMS	Alumis	0.6	82.4%	5.6%
NPCE	NeuroPace	0.6	80.5%	51.7%
BW	Babcock & Wilcox Enterprises	0.7	80.5%	311.6%
CBLL	CeriBell	0.7	75.4%	-26.0%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CCOI	Cogent Communications	0.9	-53.0%	-74.0%
UP	Wheels Up Experience	0.5	-48.0%	-60.0%
TLRY	Tilray Brands	7.7	-41.8%	-45.7%
AMSC	American Superconductor	1.4	-41.4%	34.0%
CTEV	Claritev	0.6	-41.2%
BTDR	Bitdeer Technologies	2.5	-40.7%	-41.6%
FRMI	Fermi	11.1	-40.2%
JANX	Janux Therapeutics	1.0	-39.3%	-69.4%
ARDT	Ardent Health	1.2	-39.1%	-48.1%
SMR	NuScale Power	3.4	-35.9%	27.4%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

Peer Comparisons for Air Industries

Peers to compare with:

Financials

	AIRI	FLY	ATRO	BETA	DFSC	PEW	Median
Name	Air Indu.	Firefly .	Astronics	BETA Tec.	DEFSEC T.	GrabAGun.
Mkt Price	2.96	20.13	50.95	30.38	3.84	3.59	11.98
Mkt Cap	0.0	-	1.8	-	-	-	0.9
Rev LTM	52	101	831	-	4	-	77
Op Inc LTM	-1	-211	50	-	-9	-	-5
FCF LTM	-1	-199	51	-	-9	-	-5
FCF 3Y Avg	-0	-	8	-	-11	-	-0
CFO LTM	2	-165	74	-	-9	-	-3
CFO 3Y Avg	2	-	22	-	-10	-	2

Growth & Margins

	AIRI	FLY	ATRO	BETA	DFSC	PEW	Median
Name	Air Indu.	Firefly .	Astronics	BETA Tec.	DEFSEC T.	GrabAGun.
Rev Chg LTM	-2.1%	-	6.2%	-	166.4%	-	6.2%
Rev Chg 3Y Avg	-2.1%	-	19.5%	-	94.3%	-	19.5%
Rev Chg Q	-6.7%	-	3.8%	-	330.2%	-	3.8%
QoQ Delta Rev Chg LTM	-1.7%	-	0.9%	-	35.8%	-	0.9%
Op Mgn LTM	-1.5%	-209.3%	6.0%	-	-209.1%	-	-105.3%
Op Mgn 3Y Avg	-0.8%	-	2.2%	-	-699.5%	-	-0.8%
QoQ Delta Op Mgn LTM	-1.4%	-	1.7%	-	86.7%	-	1.7%
CFO/Rev LTM	3.6%	-164.1%	8.9%	-	-212.3%	-	-80.3%
CFO/Rev 3Y Avg	4.5%	-	2.5%	-	-716.7%	-	2.5%
FCF/Rev LTM	-2.5%	-197.5%	6.1%	-	-216.3%	-	-100.0%
FCF/Rev 3Y Avg	-0.3%	-	0.8%	-	-777.8%	-	-0.3%

Valuation

	AIRI	FLY	ATRO	BETA	DFSC	PEW	Median
Name	Air Indu.	Firefly .	Astronics	BETA Tec.	DEFSEC T.	GrabAGun.
Mkt Cap	0.0	-	1.8	-	-	-	0.9
P/S	0.2	-	1.9	-	-	-	1.1
P/EBIT	-23.9	-	32.3	-	-	-	4.2
P/E	-5.3	-	-523.9	-	-	-	-264.6
P/CFO	6.7	-	22.0	-	-	-	14.3
Total Yield	-18.9%	-	-0.2%	-	-	-	-9.5%
Dividend Yield	0.0%	-	0.0%	-	-	-	0.0%
FCF Yield 3Y Avg	-0.8%	-	-0.5%	-	-	-	-0.6%
D/E	2.1	-	0.2	-	-	-	1.2
Net D/E	2.1	-	0.2	-	-	-	1.1

Returns

	AIRI	FLY	ATRO	BETA	DFSC	PEW	Median
Name	Air Indu.	Firefly .	Astronics	BETA Tec.	DEFSEC T.	GrabAGun.
1M Rtn	-3.9%	-11.9%	6.2%	-15.6%	19.6%	-17.7%	-7.9%
3M Rtn	-8.9%	-53.0%	30.4%	-	28.4%	-36.1%	-8.9%
6M Rtn	-14.0%	-	57.7%	-	-	-	21.9%
12M Rtn	-34.5%	-	207.9%	-	-	-	86.7%
3Y Rtn	-46.9%	-	466.1%	-	-	-	209.6%
1M Excs Rtn	-5.2%	-13.2%	4.9%	-16.9%	18.4%	-18.9%	-9.2%
3M Excs Rtn	-12.7%	-58.5%	25.9%	-	21.7%	-44.0%	-12.7%
6M Excs Rtn	-29.3%	-	42.2%	-	-	-	6.4%
12M Excs Rtn	-50.1%	-	194.1%	-	-	-	72.0%
3Y Excs Rtn	-122.6%	-	465.1%	-	-	-	171.2%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	6/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	8/14/2025	4/15/2025	4/15/2024	5/16/2023	3/25/2022	3/29/2021	3/27/2020
Key Financials
Total Revenue	52	55	52	53	59	50	55
EBITDA	3	3	3	3	6	4	4
Operating Income	-1	0	-0	-0	2	-1	0
Net Income	-2	-1	-2	-1	2	1	-3
EPS	-0.67	-0.41	-0.65	-0.33	0.51	0.30	-0.90
Growth Rates
Total Revenue Growth	-2.1%	7.0%	-3.2%	-9.7%	17.6%	-8.2%	22.6%
EBITDA Growth	-19.0%	25.6%	-17.5%	-46.2%	38.8%	-0.3%	354.4%
Operating Income Growth	-371.8%	255.6%	-52.1%	-107.8%	272.8%	-538.7%	111.4%
Net Income Growth	-55.2%	35.9%	-98.0%	-166.1%	48.4%	140.1%	75.1%
Margins
EBITDA Margin	5.0%	6.3%	5.3%	6.3%	10.5%	8.9%	8.2%
Operating Income Margin	-1.5%	0.8%	-0.6%	-0.4%	4.2%	-2.9%	0.6%
Net Income Margin	-4.5%	-2.5%	-4.1%	-2.0%	2.8%	2.2%	-5.0%
Cash & Debt
Total Cash	1	1	0	0	1	3	1
Total Debt	26	28	26	29	27	32	31
Net Debt / (Cash)	26	27	25	28	27	29	30
Cash Flows
Net Cash from Operations	2	0	5	0	4	-2	-1
Free Cash from Operations	-1	-2	3	-2	3	-5	-2
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	8/14/2025	5/15/2025	4/15/2025	11/14/2024	8/14/2024	5/15/2024	4/15/2024	12/6/2023	8/18/2023	8/11/2023	5/16/2023	11/14/2022
Key Financials Quarterly
Total Revenue	13	12	15	13	14	14	13	12	13	13	14	13
Ebitda	1	0	1	1	1	0	1	-0	1	1	0	1
Operating Income	0	-1	-0	0	1	-0	1	-1	0	-0	-1	0
Net Income	-0	-1	-1	-0	0	-1	0	-1	-0	-1	-1	-0
EPS	-0.11	-0.27	-0.17	-0.12	0.09	-0.21	0.06	-0.40	-0.12	-0.19	-0.28	-0.04
Key Financials TTM
Total Revenue TTM	52	53	55	54	53	53	52	52	53	54	53	55
Ebitda TTM	3	3	3	4	3	3	3	2	3	3	3	6
Operating Income TTM	-1	-0	0	1	0	-0	-0	-2	-1	-1	-0	2
Net Income TTM	-2	-2	-1	-1	-2	-2	-2	-3	-2	-2	-1	1
Growth Rates Quarterly
Total Revenue Growth	-6.7%	-13.7%	10.8%	2.1%	2.8%	12.0%	-3.0%	-7.4%	-5.7%	4.0%	-9.9%	-7.5%
EBITDA Growth	-42.0%	-44.7%	-46.8%	5493.3%	72.3%	-22.2%	390.8%	-101.6%	-19.2%	-43.1%	-90.4%	-14.9%
Operating Income Growth	-98.9%	-188.0%	-117.2%	108.4%	944.4%	-63.9%	171.6%	-571.0%	-71.2%	-176.3%	-144.5%	-4.5%
Net Income Growth	-241.6%	-39.9%	-406.1%	68.9%	175.4%	-14.2%	120.1%	-814.8%	-5542.9%	-2107.1%	-156.0%	-115.2%
Margins Quarterly
EBITDA Margin	6.8%	2.2%	4.6%	6.4%	10.9%	3.4%	9.5%	-0.1%	6.5%	4.9%	1.9%	6.9%
Operating Income Margin	0.1%	-6.1%	-0.7%	0.5%	5.5%	-1.8%	4.4%	-6.5%	0.5%	-1.3%	-5.9%	1.3%
Net Income Margin	-3.3%	-8.1%	-3.7%	-3.2%	2.2%	-5.0%	1.3%	-10.6%	-3.0%	-4.9%	-6.5%	-1.1%
Cash & Debt
Total Cash	1	0	1	0	0	0	0	1	1	1	0	0
Total Debt	26	26	28	27	27	26	26	24	29	29	29	28
Net Debt / (Cash)	26	26	27	27	27	26	25	23	29	28	28	28
Cash Flows Quarterly
FCF from Operations	0	2	-0	0	1	-0	-2	6	-0	1	1	-0
Cash Flows TTM
FCF from Operations TTM	2	2	0	-2	4	3	5	8	2	1	0	1
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	0.0%	-2.7%	-0.4%	0.2%	2.7%	-1.0%	2.2%	-3.0%	0.3%	-0.6%	-3.0%	0.6%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-0.7%	-0.0%	0.4%	1.0%	0.3%	-0.4%	-0.3%	-1.6%	-0.7%	-0.5%	-0.2%	2.2%

Price Behavior

Price Behavior

Market Price	$2.98
Market Cap ($ Bil)	0.0
First Trading Date	10/05/2000
Distance from 52W High	-35.3%
	50 Days	200 Days
DMA Price	$3.10	$3.36
DMA Trend	down	down
Distance from DMA	-4.0%	-11.5%
	3M	1YR
Volatility	30.7%	46.5%
Downside Capture	165.50	115.98
Upside Capture	81.01	59.54
Correlation (SPY)	49.9%	29.9%

AIRI Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.55	1.29	1.22	1.04	0.70	0.61
Up Beta	1.97	1.66	1.68	1.15	0.43	0.56
Down Beta	0.73	1.18	1.09	1.09	0.82	0.34
Up Capture	62%	89%	73%	47%	44%	28%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	7	15	27	50	101	324
Down Capture	205%	144%	143%	138%	109%	101%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	11	22	28	59	124	381

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of AIRI With Other Asset Classes (Last 1Y)
	AIRI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-36.0%	8.9%	14.6%	57.6%	4.7%	-5.6%	-3.5%
Annualized Volatility	46.9%	18.9%	19.6%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.81	0.32	0.57	2.22	0.10	-0.47	0.03
Correlation With Other Assets		32.2%	29.7%	4.1%	9.9%	14.2%	21.3%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of AIRI With Other Asset Classes (Last 5Y)
	AIRI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-25.1%	13.4%	15.1%	18.0%	11.7%	4.8%	40.5%
Annualized Volatility	75.2%	17.2%	17.1%	15.5%	18.8%	19.0%	49.0%
Sharpe Ratio	-0.09	0.63	0.72	0.93	0.51	0.17	0.68
Correlation With Other Assets		16.6%	12.9%	-0.2%	4.3%	11.4%	4.8%

Based On 10-Year Data

		Comparison of AIRI With Other Asset Classes (Last 10Y)
	AIRI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-28.1%	12.9%	14.5%	14.2%	5.7%	5.3%	76.1%
Annualized Volatility	75.8%	19.9%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	-0.12	0.58	0.69	0.79	0.25	0.23	0.94
Correlation With Other Assets		16.7%	14.2%	-0.2%	7.9%	13.2%	2.7%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	26,309
Short Interest: % Change Since 10312025	-40.4%
Average Daily Volume	28,242
Days-to-Cover Short Interest	1
Basic Shares Quantity	3,731,335
Short % of Basic Shares	0.7%

Returns Analyses

	Title
0	Can Air Industries Stock Recover If Markets Fall?

SEC Filings

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Report Date	Filing Date	Filing
6302025	8142025	10-Q 6/30/2025
3312025	5152025	10-Q 3/31/2025
12312024	4152025	10-K 12/31/2024
9302024	11142024	10-Q 9/30/2024
6302024	8142024	10-Q 6/30/2024
3312024	5152024	10-Q 3/31/2024
12312023	4152024	10-K 12/31/2023
9302023	12062023	10-Q 9/30/2023
6302023	8182023	10-Q 6/30/2023
3312023	8112023	10-Q 3/31/2023
12312022	5162023	10-K 12/31/2022
9302022	11142022	10-Q 9/30/2022
6302022	8222022	10-Q 6/30/2022
3312022	5112022	10-Q 3/31/2022
12312021	3252022	10-K 12/31/2021
9302021	11122021	10-Q 9/30/2021

External Quote Links

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5	MarketWatch	Unusual Whales
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7	FinViz

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Air Industries (AIRI)

Market Price (12/4/2025): $2.89 | Market Cap: $10.8 MilSector: Industrials | Industry: Aerospace & Defense

Air Industries (AIRI)

Market Price (12/4/2025): $2.89Market Cap: $10.8 MilSector: IndustrialsIndustry: Aerospace & Defense

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AIRI Stock

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Market Price (12/4/2025): $2.89 | Market Cap: $10.8 Mil
Sector: Industrials | Industry: Aerospace & Defense

Market Price (12/4/2025): $2.89
Market Cap: $10.8 Mil
Sector: Industrials
Industry: Aerospace & Defense