AVAV AeroVironment Inc

Overview and Growth

AeroVironment Inc generated $1.98B of revenue in fiscal 2026, with net loss of $265.12M and an operating cash outflow of $78.40M. At $1.98B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 140.9% from $820.63M in fiscal 2025, increasing the company’s operating scale. Diluted earnings per share were -$5.40, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted EPS decreased by 448.4% from $1.55 in fiscal 2025, showing how the earnings change reached shareholders on a per-share basis. At period end, total assets were $5.72B, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.35x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $500.64M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 25.3%, so that share of each revenue unit remained after the cost of revenue reported for the period. The company recorded an operating loss of $311.00M after the reported operating expense base. The operating loss equaled 15.7% of revenue, showing the scale of the operating deficit relative to sales. The company ended the period with a net loss of $265.12M, extending the operating result through all remaining items. Net margin was -13.4%, reflecting a loss equal to 13.4% of reported revenue. Before income taxes, the company recorded a loss of $288.18M, bridging the operating result to the final net loss. Pretax margin was -14.6%, reflecting a pre-tax loss equal to 14.6% of revenue. The reported tax benefit was $23.06M, favorably bridging the pretax and after-tax results. Relative to period-end equity, the net loss represented 6.0%. The loss-to-assets relationship was 4.6%, placing the bottom-line deficit against the company’s resource base.

Liquidity and Capital Structure

Total assets were $5.72B, supported by $1.32B of liabilities and $4.40B of shareholder equity. At period end, current assets of $1.89B compared with current liabilities of $439.24M, defining the company’s short-term resource position. Current assets covered current liabilities by 4.3x, leaving a positive buffer for near-term obligations. The company held $377.32M in cash and equivalents, a narrower liquidity measure than total current assets. Cash and equivalents represented 85.9% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $728.97M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.17x, showing how much debt the company carried for each unit of book equity. Debt represented 12.8% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 23.0%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 6.6%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 410.2% higher than fiscal 2025 assets of $1.12B, measuring the company’s own balance-sheet change. Reported equity changed 396.4% from $886.51M in fiscal 2025, placing the current capital base higher year over year.

Cash Flow and Earnings Quality

Operating activities used $78.40M of cash, resulting in an operating cash outflow for the year. Capital spending of $62.54M added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Operating cash flow and capital spending combined to leave a $140.95M cash deficit after capital spending. Relative to revenue, the post-investment cash deficit represented 7.1%. The free-cash-flow deficit equaled 2.5% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Apr 30, 2026. Analysis generated Oct 21, 2026.