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NEW YORK STOCK EXCHANGE, INC. · Building · CIK 0002098430
$23.08
-0.60% · live
Updated
$11.28B market value
From Madison Air Solutions Corp's FY2025 annual-report
Madison Air Solutions makes industrial machinery and equipment. It took in $3.52B last year, which makes it a mid-sized company. Of every dollar it sells, about 1 cents is left as profit.
The financial picture is led by growth and accounting, with profitability worth watching, while debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score 1.53
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Generally healthy, with a few things to watch.
From Madison Air Solutions Corp's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Profit
$175.2M → $30.8M
Free cash flow
-$10.3M → $439.8M
Earnings per share
$0.36 → $0.06
Capital spending
$28.2M → $40.6M
Measured against FY2024, from the annual-report
Deteriorated: -82.4%
$175.2M to $30.8MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote live), and what was published around it
MAIR fell 0.60% on the latest quote. The average Industrials company tracked here moved +0.37%, and the S&P 500 −1.04%. That is 1.0 points below its sector and in line with the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 14% a year for the next 10 years. Over the last 2 years it grew by about 30% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 1 cents of every dollar of sales as profit, earning $30.8M last year.
Yes, quickly. Sales grew 34.1% last year.
Yes. Clearing its debt would take roughly 11.3 years of cash flow. For every $1 it owes, it owns $1.01 in assets. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it earned $30.8M and generated $480.4M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY2025annual-report | FY2024annual-report | FY2023annual-report | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|
| RevenueWhat is this? | $3.52B | $2.62B | $2.56B | +34.1% |
| Cost of revenue | $2.15B | $1.62B | $1.62B | +33.2% |
| Gross profit | $1.36B | $1.01B | $937.8M | +35.5% |
| Gross marginGross profit ÷ revenueWhat is this? | 38.8% | 38.4% | 36.7% | +0.4 pts |
| Selling, general and administrative | $514.8M | $388.6M | $390.7M | +32.5% |
| Operating income | $501.6M | $486.5M | $418.8M | +3.1% |
| Operating marginOperating income ÷ revenueWhat is this? | 14.3% | 18.5% | 16.4% | −4.3 pts |
| Interest expense | $398.0M | $295.2M | $314.5M | +34.8% |
| Income before tax | $109.3M | $189.2M | $88.2M | −42.2% |
| Net income | $30.8M | $175.2M | $58.2M | −82.4% |
| Net marginNet income ÷ revenueWhat is this? | 0.9% | 6.7% | 2.3% | −5.8 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $0.063 | $0.3583 | $0.119 | −82.4% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| MAIRMadison Air Solutions Corp · this page | 7.0/10 | 6/9 |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Bought on the open market — 8,770,524 shares at $24.97 ($219.0M)
Holds 46,387,522 shares after this filing.
Was granted or awarded shares — 12,014,417 shares at $24.97 ($300.0M)
Holds 12,014,417 shares after this filing.
12 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Signed a material agreement · Sold shares outside a public offering · Made a Regulation FD disclosure
Read the filingSigned a material agreement · Made a Regulation FD disclosure
Read the filingWrite down why you are following Madison Air Solutions Corp, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
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RBC Capital Maintains Outperform on Madison Air Solutions, Lowers Price Target to $35
Benzinga ·
Citigroup Maintains Buy on Madison Air Solutions, Lowers Price Target to $40
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from MAIR's annual-report for fiscal year 2025 (period ending 2025-12-31), reported under the US GAAP taxonomy.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Every check behind the three models, and what each one tests
6 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
1.53
In the distress zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-2.43
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Improved: turned positive
-$10.3M to $439.8MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Deteriorated: -82.4%
$0.36 to $0.06Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Changed: +44.0%
$28.2M to $40.6MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: +34.1%
$2.62B to $3.52BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +35.5%
$1.01B to $1.36BSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: −4.3 pts
18.5% to 14.3%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −5.8 pts
6.7% to 0.9%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: +37.0%
$4.10B to $5.62BSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Deteriorated: -38.7%
$339.9M to $208.4MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
3 other measures barely moved. Figures compare the two most recent annual filings. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 12% and 16%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 17 analysts covering this company, as of . Their views, not this site's.
Of 17 analysts publishing on this company, 7 say strong buy, 7 say buy and 3 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 2.1% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 366.4x — a high multiple relative to the current trailing profit.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
| 34.1% |
| 0.9% |
| 366.38x |
| -218.78x |
| CARRCARRIER GLOBAL Corp | 4.7/10 | 4/8 | -3.3% | 6.8% | 31.82x | 1.63x |
|---|
| MASMASCO CORP /DE/ | 8.0/10 | 6/9 | -3.4% | 10.7% | 19.69x | -27.70x |
|---|
| LIILENNOX INTERNATIONAL INC | 7.3/10 | 5/9 | -2.7% | 15.5% | 16.72x | 2.51x |
|---|
| AOSSMITH A O CORP | 9.0/10 | 8/9 | 0.3% | 14.3% | 16.13x | 0.69x |
|---|
| Median of peers | 7.7/10 | — | -3.0% | 12.5% | 18.20x | 1.16x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Was granted or awarded shares — 12,815,378 shares at $24.97 ($320.0M)
Holds 12,815,378 shares after this filing.
Bought on the open market — 20,000 shares at $27.84 ($556.8K)
Holds 36,713 shares after this filing.
Had shares withheld to cover taxes — 20,518 shares at $26.25 ($538.6K)
Holds 181,331 shares after this filing.
Was granted or awarded shares — 19,808 shares
Holds 19,808 shares after this filing.
Was granted or awarded shares — 5,077 shares
Holds 5,077 shares after this filing.
Was granted or awarded shares — 5,711 shares
Holds 16,713 shares after this filing.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Quarterly report on Form 10-Q
Published results
Read the filingHad a director or senior officer leave or join
Read the filingSigned a material agreement · Took on a direct financial obligation
Read the filingQuarterly report on Form 10-Q
Read the filingPublished results
Read the filingSigned a material agreement · Sold shares outside a public offering · Changed the rights attached to its shares · Had a director or senior officer leave or join · Amended its charter or changed its financial year · Reported another event
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingBenzinga ·
Primary sources and further research