AVAV Industrials

AeroVironment, Inc.

$123.53+0.37%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Industrials
Industry: Aerospace & Defense
Country: United States
Market cap: 6.3B USD
Enterprise value: 6.4B USD
Full-time employees: 3,991

Overall health

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.36 vs a peer median of 0.64)bigger price swings (beta 1.36 vs peers 0.64)

Ranks #1,360 of 2,308 industrials companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 94% from April 2023 to September 2026.
AeroVironment had 94% more shares at September 2026 than at April 2023, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.AeroVironment had 94% more shares at September 2026 than at April 2023, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss.
Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -13%).
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $395M in FY Apr 2021 to $2.0B in FY Apr 2026.
AeroVironment's fiscal-year revenue rose in each of the five years to FY Apr 2026, from $395M to $2.0B.
More volatile share price. Beta 1.36: tends to move more than the market.
AeroVironment's shares have swung more with the market than most peers' (beta 1.36, above the market's 1.0).

StockQuotient Score

47/ 100

Oct 5 47 → Nov 4 47

Valuation

Is the price right?

9/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-3.2%

SEC filings · 12 months to Aug 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yield-0.3%

SEC filings · 12 months to Aug 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.64Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield-0.4%

SEC filings · 12 months to Aug 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield70.0%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

91/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

The loss per share widened33% base weight · Z-score -1.31Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth50.8%

SEC filings · 3 years to Aug 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.72Sector median: 0.0421 · MAD: 0.0625

Revenue growth84.4%

SEC filings · 12 months to Aug 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.55Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

7/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 3.1 points to -12.6%

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-12.6%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score -4.01Sector median: 0.0773 · MAD: 0.0507

Return on assets-3.5%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score -2.76Sector median: 0.0311 · MAD: 0.0241

Return on invested capital-4.1%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score -2.02Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin26.5%

SEC filings · 12 months to Aug 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity-4.6%

SEC filings · 12 months to Aug 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio
▲ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.36

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.62Sector median: 0.6440 · MAD: 0.2745

Current ratio4.26×

SEC filings · latest balance sheetReported value33% base weight · Z-score 4.93Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.17×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.69Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about AeroVironment

Is AeroVironment getting weaker?: Its latest SEC filing (Sep 10, 2026) got stronger: operating margin rose 3.1 points to -12.6%. Its overall score is unchanged at 47/100 since Oct 28, 2026.
How is AeroVironment valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 9/100 against 2,459 industrials peers. Earnings yield -3.2% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -3.2% vs peers 3.8% (weaker than 100% of peers).
Is AeroVironment growing?: Yes, faster than most of its peers. Growth scores 91/100 against 2,459 industrials peers. 3-year revenue growth 50.8% vs a peer median of 4.2% (stronger than 95% of peers).3-year revenue growth 50.8% vs peers 4.2% (stronger than 95% of peers).
How profitable is AeroVironment?: Less profitable than most of its peers. Profitability scores 7/100 against 2,459 industrials peers. Operating margin -12.6% vs a peer median of 7.7% (weaker than 93% of peers).Operating margin -12.6% vs peers 7.7% (weaker than 93% of peers).
How risky is AeroVironment?: Lower risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 4.26× vs a peer median of 1.62× (stronger than 92% of peers).Current ratio 4.26× vs peers 1.62× (stronger than 92% of peers). Beta 1.36 vs a peer median of 0.64 (weaker than 91% of peers).Beta 1.36 vs peers 0.64 (weaker than 91% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Aug 1, 2026 · filed Sep 10, 2026 · compared with the quarter ended Apr 30, 2026

Got stronger

Operating margin rose 3.1 points to -12.6%

Worth watching: AeroVironment is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	2.0B USD	2.0B USD	+1.3%
Net income (12 months)	−265.1M USD	−202.8M USD	−23.5%
Operating margin	-15.7%	-12.6%	+3.1 pts
Free cash flow (12 months)	−140.9M USD	−25.0M USD	−82.2%
Debt	747.5M USD	747.5M USD	0.0%
Cash	377.3M USD	278.4M USD	−26.2%
Shares outstanding	50.6M	50.8M	+0.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Aerospace & Defense · 48 companies

Valuations in Aerospace & Defense are near the top of their range since 2016.

88% of months since 2016 were valued lower than now.
50% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +71% and earnings +71% (medians): prices and earnings moved broadly together.
Median price-to-sales is +41% vs the whole market, against a usual −16%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Apr 2022	FY Apr 2023	FY Apr 2024	FY Apr 2025	FY Apr 2026	Change
Gross margin	31.7%	32.1%	39.6%	38.8%	25.3%	▼ 14 pts
Operating margin	-2.2%	-33.1%	10.0%	5.0%	-15.7%	▼ 21 pts
Net margin	-0.9%	-32.6%	8.3%	5.3%	-13.4%	▼ 19 pts
Return on assets (ROA)	-0.5%	-21.4%	5.9%	3.9%	-4.6%	▼ 8.5 pts
Return on equity (ROE)	-0.7%	-32.0%	7.3%	4.9%	-6.0%	▼ 11 pts
Free cash flow margin	-7.2%	-0.6%	-1.1%	-2.5%	-7.1%	▼ 4.6 pts
Current ratio	3.64×	3.93×	3.56×	3.52×	4.30×	▲ 22%
Quick ratio	2.74×	2.79×	2.52×	2.69×	3.59×	▲ 34%
Debt to equity	0.31×	0.25×	0.03×	0.03×	0.17×	▲ 402%
Interest coverage	—	—	—	—	-12.85×	—

AVAV price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.36 vs a peer median of 0.64)bigger price swings (beta 1.36 vs peers 0.64)

Ranks #1,360 of 2,308 industrials companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 94% from April 2023 to September 2026.

AeroVironment had 94% more shares at September 2026 than at April 2023, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.AeroVironment had 94% more shares at September 2026 than at April 2023, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss.

Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -13%).

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $395M in FY Apr 2021 to $2.0B in FY Apr 2026.

AeroVironment's fiscal-year revenue rose in each of the five years to FY Apr 2026, from $395M to $2.0B.

More volatile share price. Beta 1.36: tends to move more than the market.

AeroVironment's shares have swung more with the market than most peers' (beta 1.36, above the market's 1.0).

Questions investors ask about AeroVironment

Is AeroVironment getting weaker?

Its latest SEC filing (Sep 10, 2026) got stronger: operating margin rose 3.1 points to -12.6%. Its overall score is unchanged at 47/100 since Oct 28, 2026.

How is AeroVironment valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 9/100 against 2,459 industrials peers. Earnings yield -3.2% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -3.2% vs peers 3.8% (weaker than 100% of peers).

Is AeroVironment growing?

Yes, faster than most of its peers. Growth scores 91/100 against 2,459 industrials peers. 3-year revenue growth 50.8% vs a peer median of 4.2% (stronger than 95% of peers).3-year revenue growth 50.8% vs peers 4.2% (stronger than 95% of peers).

How profitable is AeroVironment?

Less profitable than most of its peers. Profitability scores 7/100 against 2,459 industrials peers. Operating margin -12.6% vs a peer median of 7.7% (weaker than 93% of peers).Operating margin -12.6% vs peers 7.7% (weaker than 93% of peers).

How risky is AeroVironment?

Lower risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 4.26× vs a peer median of 1.62× (stronger than 92% of peers).Current ratio 4.26× vs peers 1.62× (stronger than 92% of peers). Beta 1.36 vs a peer median of 0.64 (weaker than 91% of peers).Beta 1.36 vs peers 0.64 (weaker than 91% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

2.0B USD

2.0B USD

+1.3%

Net income (12 months)

−265.1M USD

−202.8M USD

−23.5%

Operating margin

-15.7%

-12.6%

+3.1 pts

Free cash flow (12 months)

−140.9M USD

−25.0M USD

−82.2%

Debt

747.5M USD

747.5M USD

0.0%

Cash

377.3M USD

278.4M USD

−26.2%

Shares outstanding

50.6M

50.8M

+0.4%

Key ratios

FY Apr 2022

FY Apr 2023

FY Apr 2024

FY Apr 2025

FY Apr 2026

Change

Gross margin

31.7%

32.1%

39.6%

38.8%

25.3%

▼ 14 pts

Operating margin

-2.2%

-33.1%

10.0%

5.0%

-15.7%

▼ 21 pts

Net margin

-0.9%

-32.6%

8.3%

5.3%

-13.4%

▼ 19 pts

Return on assets (ROA)

-0.5%

-21.4%

5.9%

3.9%

-4.6%

▼ 8.5 pts

Return on equity (ROE)

-0.7%

-32.0%

7.3%

4.9%

-6.0%

▼ 11 pts

Free cash flow margin

-7.2%

-0.6%

-1.1%

-2.5%

-7.1%

▼ 4.6 pts

Current ratio

3.64×

3.93×

3.56×

3.52×

4.30×

▲ 22%

Quick ratio

2.74×

2.79×

2.52×

2.69×

3.59×

▲ 34%

Debt to equity

0.31×

0.25×

0.03×

0.17×

▲ 402%

Interest coverage

—

-12.85×

—