AeroVironment, Inc.AVAV
NasdaqGS•Industrials•Aerospace & Defense
AeroVironment, Inc. designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates in two segments, Autonomous Systems; and Space, Cyber and Directed Energy. The company provides uncrewed aircraft systems (UAS), which include small and medium UAS, and kinesis command and control software; and counter-UAS and precision strike, a loitering munitions solution that deliver actionable intelligence and precision firepower modern warfighters, including precision strike, radio frequency and kinetic C-UAS, and electronic warfare systems. It also offers autonomy, AI, and platform technologies; unmanned maritime; uncrewed ground systems; and high-altitude pseudo-satellites. The company provides digital beamforming technology, a multi-band/beam software defined antenna tile that allows simultaneous communication with multiple satellites; laser communications, a data transmission systems for space operations; space-qualified hardware for line of sight stabilization and control electronics in low, medium, and geostationary earth orbit, as well as cislunar orbits; phased array antenna technology to supports hypersonic telemetry and tracking, and other missile testing; and directed energy solution. It also offers cyber solution for national security and defense operations; and HaloCortex OSINT, an AI-powered OSINT analysis platform to provide insights and solve department of defense and commercial challenges. AeroVironment, Inc. was incorporated in 1971 and is headquartered in Arlington, Virginia.
AeroVironment, Inc. (AVAV) reported trailing twelve months revenue of $1.61B as of January 2026, a 27.6% increase year-over-year. Quarterly revenue reached $408.05M, reflecting continued top-line momentum.
AeroVironment, Inc. reported a TTM net loss of $224.36M, with quarterly EBITDA of $-124.41M. The operating margin contracted from -1.8% to -43.9%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (-43.9%) and net margin (-38.4%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from -1.0% a year ago, reflecting increased costs or interest expense.
AVAV trades at a P/S of 8.6x. The price-to-book ratio of 3.2x reflects a moderate premium to book value.
The company reported negative free cash flow of $-17.70M, indicating cash consumption over the period. The balance sheet shows $5.45B in total assets with $727.88M in long-term debt against $4.27B in stockholders equity for a debt-to-equity ratio of 0.2, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging -4.6%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Only 1 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 351.3% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.
Debt-to-equity has risen 486.8% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 6 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding increased 82.8% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation