Loading…
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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $821M | $83M | $44M | $-24M | 4.9% | 14.5% | -26.9% |
| 2024 | $717M | $103M | $60M | $-9M | 7.3% | 32.6% | -133.9% |
| 2023 | $541M | $-79M | $-176M | $-3M | -32.0% | 21.3% | 4107.5% |
| 2022 | $446M | $47M | $-4M | $-32M | -0.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 445.73 | 540.54 | 716.72 | 820.63 |
| Operating Revenue | 445.73 | 540.54 | 716.72 | 820.63 |
| Cost Of Revenue | 304.50 | 367.02 | 432.79 | 501.99 |
| Gross Profit | 141.24 | 173.51 | 283.93 | 318.64 |
| Operating Expense | 151.12 | 196.16 | 212.11 | 259.48 |
| Research And Development | 54.69 | 64.26 | 97.69 | 100.73 |
| Selling General And Administration | 96.43 | 131.90 | 114.42 | 158.75 |
| Total Expenses | 455.62 | 563.18 | 644.90 | 761.47 |
| Operating Income | -9.89 | -22.65 | 71.82 | 59.15 |
| Total Operating Income As Reported | -9.89 | -178.66 | 71.82 | 40.80 |
| EBITDA | 47.12 | -79.01 | 103.20 | 82.85 |
| Normalized EBITDA | 40.62 | 77.01 | 103.20 | 101.21 |
| EBIT | -13.70 | -179.01 | 67.45 | 41.85 |
| Interest Expense | 5.44 | 9.37 | 4.22 | 2.19 |
| Net Interest Income | -5.44 | -9.37 | -4.22 | -2.19 |
| Other Non Operating Income Expenses | -10.31 | -0.35 | -4.37 | 1.06 |
| Other Income Expense | -3.82 | -156.36 | -4.37 | -17.30 |
| Interest Expense Non Operating | 5.44 | 9.37 | 4.22 | 2.19 |
| Net Non Operating Interest Income Expense | -5.44 | -9.37 | -4.22 | -2.19 |
| Pretax Income | -19.14 | -188.38 | 63.23 | 39.66 |
| Tax Provision | -10.37 | -14.66 | 1.89 | 0.88 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 1.36 | -12.14 | 0 | -0.40 |
| Net Income Continuous Operations | -4.18 | -176.17 | 59.67 | 43.62 |
| Net Income From Continuing And Discontinued Operation | -4.19 | -176.21 | 59.67 | 43.62 |
| Net Income From Continuing Operation Net Minority Interest | -4.19 | -176.21 | 59.67 | 43.62 |
| Net Income | -4.19 | -176.21 | 59.67 | 43.62 |
| Net Income Common Stockholders | -4.19 | -176.21 | 59.67 | 43.62 |
| Net Income Including Noncontrolling Interests | -4.18 | -176.17 | 59.67 | 43.62 |
| Normalized Income | -9.32 | -32.34 | 59.67 | 61.57 |
| Diluted NI Availto Com Stockholders | -4.19 | -176.21 | 59.67 | 43.62 |
| Basic Average Shares | 24.69 | 25.04 | 27.20 | 28.02 |
| Diluted Average Shares | 24.69 | 25.04 | 27.33 | 28.17 |
| Reconciled Depreciation | 60.82 | 100 | 35.75 | 41 |
| Reconciled Cost Of Revenue | 304.50 | 367.02 | 432.79 | 501.99 |
| Total Unusual Items | 6.50 | -156.02 | 0 | -18.36 |
| Total Unusual Items Excluding Goodwill | 6.50 | -156.02 | 0 | -18.36 |
| Minority Interests | 0 | -0.04 | 0 | 0 |
| Net Income Discontinuous Operations | 0 | - | - | - |
| Earnings From Equity Interest Net Of Tax | 4.59 | -2.45 | -1.67 | 4.84 |
| Special Income Charges | 6.50 | -156.02 | 0 | -18.36 |
| Gain On Sale Of Business | 6.50 | 0 | 0 | - |
| Impairment Of Capital Assets | 0 | 156.02 | 0 | 18.36 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| AeroVironment, Inc.this co. | AVAV | $10.3B | 237.14↑ premium | 11.67 | 4.9% | 125.13 |
| Advanced Energy Industries, Inc. | AEIS | $12.8B | 86.52 | 9.42 | 10.9% | 52.10 |
| Kratos Defense & Security Solutions, Inc. | KTOS | $11.9B | 540.40 | 5.96 | 1.1% | 111.51 |
| SPX Technologies, Inc. | SPXC | $11.8B | 48.45 | 5.28 | 10.9% | 24.67 |
| Joby Aviation, Inc. | JOBY |
| $11.0B |
| -11.78 |
| 7.77 |
| -66.0% |
| -15.83 |
| Watts Water Technologies, Inc. | WTS | $10.5B | 30.87 | 5.19 | 16.8% | 20.02 |
| Chart Industries, Inc. | GTLS | $9.9B | 244.09 | 3.08 | 1.3% | 21.83 |
| EnerSys | ENS | $8.7B | 29.65 | 4.57 | 15.4% | 18.49 |
| Commercial Metals Company | CMC | $8.5B | 99.90 | 2.02 | 2.0% | 19.98 |
| Peer Median | - | 67.49 | 5.24 | 6.5% | 20.93 | |