How much debt does Air T have?

Air T had total debt of $209.11M as of Mar 31, 2026, against $21.36M in cash and short-term investments. Its debt-to-equity ratio was 2.29. Total debt was $114.89M a year earlier.

What are Air T's total assets?

Air T reported total assets of $409.12M as of Mar 31, 2026, up 135.4% from $173.78M a year earlier. Total liabilities were $317.90M.

What is Air T's shareholders' equity?

Air T's shareholders' equity was $91.22M as of Mar 31, 2026, or about $33.77 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.

Air T (AIRT) Balance Sheet: Assets & Liabilities

Air T Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Air T, Inc. (AIRT) - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Current Assets
Cash and Cash Equivalents	20.33	5.93	7.10	5.81	5.62	15.93	5.95	12.52	4.80	2.76
Short-Term Investments	1.03	0.42	0.53	0.00	0.86	2.91	1.68	1.76	0.29	2.13
Cash & Short-Term Investments	21.36	6.35	7.63	5.81	6.48	18.84	7.63	14.28	5.09	4.89
Accounts Receivable	39.89	23.92	22.91	27.22	32.05	6.51	14.25	11.02	19.39	21.62
Inventory	77.13	38.52	60.72	71.13	75.17	71.97	60.62	29.97	34.23	19.78
Other Current Assets	16.47	4.68	3.48	3.26	14.55	4.07	15.98	18.69	2.96	2.56
Total Current Assets	159.98	78.51	102.88	116.56	128.24	105.77	98.49	71.35	61.67	48.86
Non-Current Assets
Property, Plant & Equipment (Net)	176.62	48.22	32.49	33.19	43.08	18.41	41.33	29.98	20.27	5.32
Long-Term Investments	35.35	19.00	16.65	13.23	9.86	4.48	6.02	6.70	6.38	2.46
Goodwill	11.82	10.54	10.54	10.56	10.13	4.23	4.23	4.42	4.42	4.42
Intangible Assets	13.03	10.02	10.98	12.10	13.26	1.60	0.75	1.23	1.31	1.38
Other Non-Current Assets	12.33	1.64	3.63	3.92	0.22	6.27	0.03	0.92	-88.91	2.69
Total Non-Current Assets	249.15	95.27	74.29	73.01	79.36	34.98	52.94	43.79	35.48	16.48
Total Assets	409.12	173.78	177.17	189.56	207.60	140.75	151.43	115.14	97.15	65.34
Current Liabilities
Accounts Payable	36.97	17.78	15.07	10.45	9.40	8.34	10.86	11.41	10.18	11.57
Short-Term Debt	4.55	10.38	14.36	38.74	7.93	5.64	45.03	24.74	9.23	0.03
Current Portion of Long-Term Debt	4.55	10.38	14.36	38.74	6.48	5.64	-	-	-	-
Accrued Liabilities	50.40	13.01	12.69	10.69	13.59	12.83	-	-	-	-
Deferred Revenue	22.15	3.69	2.96	2.44	4.73	0.00	1.85	1.52	10.00	0.51
Other Current Liabilities	0.20	0.43	5.06	12.83	8.66	1.25	10.00	14.12	11.59	8.16
Total Current Liabilities	95.52	47.66	46.84	64.29	30.91	28.18	67.75	52.79	31.18	20.27
Non-Current Liabilities
Long-Term Debt	204.56	104.51	98.57	86.35	136.06	81.86	50.61	40.39	38.86	18.41
Deferred Tax Liabilities	3.36	2.25	2.45	2.42	2.81	0.60	0.58	0.00	0.09	0.01
Other Non-Current Liabilities	5.63	1.98	2.45	0.05	1.34	2.33	1.40	-6.88	0.79	3.04
Total Non-Current Liabilities	222.38	120.58	111.53	99.58	140.21	91.26	52.59	33.51	39.73	21.46
Total Liabilities	317.90	168.24	158.37	163.87	171.12	119.44	120.34	86.31	70.91	41.73
Stockholders' Equity
Common Stock	0.76	0.76	0.76	0.76	0.76	0.76	0.76	0.51	0.51	0.51
Retained Earnings	80.11	2.13	8.19	13.69	26.73	16.27	23.77	21.19	20.70	18.46
Accumulated Other Comprehensive Income	4.25	-0.65	-0.08	0.82	-0.26	-0.68	-0.54	-0.21	-0.26	-0.21
Treasury Stock	6.43	6.40	4.96	4.08	3.00	-	-	-	-	-
Additional Paid-in Capital	1.12	0.95	0.86	0.73	-2.61	-2.62	0.02	2.87	4.17	4.21
Minority Interest	11.41	8.75	14.03	13.79	11.87	7.59	7.09	4.48	1.12	0.64
Shares Outstanding	2.70	2.70	2.78	2.82	2.87	-	-	-	-	-
Total Stockholders' Equity	91.22	-3.22	4.77	11.90	24.61	21.31	24.01	24.36	25.12	22.97
Total Liabilities & Equity	409.12	173.78	177.17	189.56	207.60	140.75	151.43	115.14	97.15	65.34

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Air T Balance Sheet Analysis

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