AAR (AIR) Balance Sheet: Assets & Liabilities

AAR (AIR) Balance Sheet

As of May 31, 2026 (end of fiscal 2026), AAR reported total assets of $3.36B and total liabilities of $1.65B. Shareholders' equity was $1.70B, up 40.6% from $1.21B a year earlier. Total debt stood at $893.90M against $84.00M in cash and short-term investments, a net debt position of $809.90M. That puts debt-to-equity at 0.52, compared with 0.80 a year earlier.

AAR Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for AAR Corp. (AIR) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	May 2026	May 2025	May 2024	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017
Current Assets
Cash and Cash Equivalents	0.08	0.10	0.09	0.07	0.05	0.05	0.40	0.02	0.03	0.01
Cash & Short-Term Investments	0.08	0.10	0.09	0.07	0.05	0.05	0.40	0.02	0.03	0.01
Accounts Receivable	0.35	0.35	0.25	0.19	0.17	0.17	0.22	0.26	0.20	0.23
Inventory	0.98	0.81	0.73	0.57	0.55	0.54	0.62	0.52	0.46	0.43
Other Current Assets	0.12	0.11	0.14	0.10	0.09	0.11	0.19	0.15	0.25	0.21
Total Current Assets	1.74	1.51	1.39	1.10	1.01	0.94	1.44	0.95	0.94	0.89
Non-Current Assets
Property, Plant & Equipment (Net)	0.38	0.25	0.27	0.19	0.18	0.20	0.23	0.13	0.13	0.12
Long-Term Investments	0.05	0.05	0.04	0.02	0.02	0.02	0.02	0.01	0.01	0.02
Goodwill	0.58	0.53	0.55	0.18	0.12	0.12	0.12	0.12	0.12	0.11
Intangible Assets	0.28	0.27	0.24	0.06	0.00	0.03	0.01	0.02	0.03	0.03
Other Non-Current Assets	0.24	0.33	0.23	0.23	0.20	0.28	0.28	0.28	0.29	0.35
Total Non-Current Assets	1.61	1.33	1.38	0.74	0.57	0.60	0.64	0.56	0.58	0.62
Total Assets	3.36	2.84	2.77	1.83	1.57	1.54	2.08	1.52	1.52	1.50
Current Liabilities
Accounts Payable	0.30	0.30	0.24	0.16	0.16	0.13	0.19	0.19	0.17	0.16
Short-Term Debt	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00	0.00	0.00
Accrued Liabilities	0.27	0.21	0.22	0.18	0.17	0.17	-	-	-	-
Deferred Revenue	0.05	0.04	0.00	0.00	0.00	0.03	0.00	0.00	0.00	0.00
Other Current Liabilities	0.27	0.25	0.01	0.01	0.02	0.04	0.19	0.17	0.16	0.16
Total Current Liabilities	0.61	0.55	0.47	0.35	0.35	0.34	0.38	0.36	0.33	0.34
Non-Current Liabilities
Long-Term Debt	0.89	0.97	0.99	0.27	0.10	0.13	0.67	0.14	0.18	0.15
Deferred Tax Liabilities	0.02	0.02	0.02	0.03	0.02	0.01	0.00	0.00	0.02	0.04
Other Non-Current Liabilities	0.02	0.03	0.02	0.03	0.01	0.03	0.03	0.03	0.03	0.00
Total Non-Current Liabilities	1.04	1.08	1.11	0.38	0.19	0.23	0.79	0.25	0.26	0.25
Total Liabilities	1.65	1.63	1.58	0.73	0.54	0.57	1.18	0.61	0.59	0.59
Stockholders' Equity
Common Stock	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05
Retained Earnings	1.16	0.97	0.96	0.91	0.82	0.74	0.71	0.71	0.73	0.73
Accumulated Other Comprehensive Income	0.00	-0.01	-0.01	-0.02	-0.02	-0.02	-0.04	-0.04	-0.03	-0.04
Treasury Stock	0.29	0.30	0.30	0.32	0.29	-	-	-	-	-
Additional Paid-in Capital	0.79	0.51	0.49	0.48	0.48	0.21	0.20	0.19	0.19	0.18
Shares Outstanding	0.04	0.04	0.04	0.03	0.04	-	-	-	-	-
Total Stockholders' Equity	1.70	1.21	1.19	1.10	1.03	0.97	0.90	0.91	0.94	0.91
Total Liabilities & Equity	3.36	2.84	2.77	1.83	1.57	1.54	2.08	1.52	1.52	1.50

Source: Company financial statements from annual and quarterly filings. Data as of Aug 31, 2026. Data sources and methodology

Frequently Asked Questions About AAR Balance Sheet

How much debt does AAR have?

AAR had total debt of $893.90M as of May 31, 2026, against $84.00M in cash and short-term investments. Its debt-to-equity ratio was 0.52. Total debt was $968.00M a year earlier.

What are AAR's total assets?

AAR reported total assets of $3.36B as of May 31, 2026, up 18.0% from $2.84B a year earlier. Total liabilities were $1.65B.

What is AAR's shareholders' equity?

AAR's shareholders' equity was $1.70B as of May 31, 2026, or about $42.72 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition