Is Air Industries going out of business?

AIR INDUSTRIES GROUP (AIRI) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

AIR INDUSTRIES GROUP (AIRI) scores 7 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: Shares dilution YoY: 29.96% (YoY)

Five questions, kept separate

Survival - Critical

10-14 mo of estimated runway from 2026-06-30, based on $4.6M of cash and short-term investments against $4.7M of annual burn. Adjusted shares outstanding increased 30.0% over the comparison year.

Business quality - Poor

-0.7% operating margin and -9.8% FCF margin produce a poor Business Quality assessment.

Trajectory - Contracting

Revenue weakened 13.0%; operating margin weakened 1.5pp; FCF margin weakened 6.2pp.

Valuation - Extreme expectations

-15.4% normalized FCF yield supports an extreme expectations Valuation assessment on the annual basis.

Event risk - Evidence unavailable

No active asserted adverse event was found in the available filing evidence. The filing evidence is stale or incomplete, so this is not proof of absence.

What the rules read

• Shares dilution YoY: 29.96% (YoY)
• ROE quality: -7.21%
• ROIC: -0.47%
• Interest coverage: -0.3x
• FCF margin: -9.75%
• Debt / Equity: 2.80x
• Asset Efficiency: 0.81x
• Revenue CAGR (3Y): -3.45%
• Revenue growth YoY: -5.25% (Industrial YoY)
• Return on Assets: -2.20%
• Cash Burn Deceleration: 85.40% QoQ improvement (Rapid improvement)
• Net income trend: -100.47%

Read from filings through 2026-08-12.

Price as of 2026-09-11.