Air T, Inc (AIRT) has been profitable for 10 years in a row, yet trades at a discount to book value, a modest premium to NCAV, and a trailing EV to lower than average EBIT of ~6. Recent actions by an activist investor have increased the chance that the ample value on the balance sheet will be unlocked.
Business and Financial Situation
Air T operates as a contract air cargo carrier, and a provider of ground support equipment and services in the aviation industry. FY 2013 was Air T's 10th consecutive year of it profitable operation, and it earned $2.6 million in EBIT on $103 million in revenue. In the last seven years, Air T's operating margin has...
Only subscribers can access this article, which is part of the PRO research library covering 3,577 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: