AAR Corp. (AIR)

AAR Corp. Cash Flow Statement

Financials in millions USD. Fiscal year is June - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 30, 2025	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Net Income	94.1	25	92.6	179.6	157	92.6
Depreciation & Amortization	57.3	55.2	40.2	27.2	33.1	36.3
Stock-Based Compensation	19.5	19.9	15.3	13.5	8.2	9.2
Other Adjustments	0.8	60.8	8.1	5.3	17.1	49.1
Change in Receivables	-55.8	-109.4	-22.4	-31.8	-50.9	-30.9
Changes in Inventories	-70.2	-109.3	-90.4	-23.6	-10.4	74.9
Changes in Accounts Payable	44.7	70.5	59.4	-	29.4	-62.6
Changes in Accrued Expenses	-36.5	40.9	16.9	-6.4	-10.5	16.2
Changes in Unearned Revenue	-	-	-	-	3.8	-83
Changes in Other Operating Activities	-87.5	-5	-29.6	-50.2	-8.5	53
Operating Cash Flow	1.4	36.1	43.6	23.3	75.2	105.2
Operating Cash Flow Growth	-97.10%	-17.20%	87.12%	-69.02%	-28.52%	-
Capital Expenditures	-34.6	-34.7	-29.7	-29.5	-17.3	-11.3
Sale of Property, Plant & Equipment	-	-	-	-	7.3	-
Payments for Business Acquisitions	-228.2	-1.5	-722.9	-103.3	-	-
Proceeds from Business Divestments	48	48	-	-	-	-
Other Investing Activities	-0.6	-1.1	-5.9	-5.2	-6.5	10.8
Investing Cash Flow	-213.2	10.7	-758.5	-138	-16.5	-0.5
Short-Term Debt Issued	-183.2	-20	175	172	-9.5	-470
Net Short-Term Debt Issued (Repaid)	-183.2	-20	175	172	-9.5	-470
Long-Term Debt Issued	153	-	550	-	-	-
Long-Term Debt Repaid	-	-	-	-	-24.7	-
Net Long-Term Debt Issued (Repaid)	153	-	550	-	-24.7	-
Issuance of Common Stock	268.4	-3.5	19.6	17.7	16.8	0.6
Repurchase of Common Stock	-10.1	-10.1	-5.1	-50.1	-42.4	-
Net Common Stock Issued (Repurchased)	258.3	-13.6	14.5	-32.4	-25.6	0.6
Other Financing Activities	-77.8	-0.1	-10.3	-1.9	-	-0.1
Financing Cash Flow	225.5	-33.7	729.2	137.7	-59.8	-469.5
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-	-	-	-0.1	-0.2	0.3
Net Cash Flow	13.7	13.1	14.3	22.9	-1.3	-364.5
Free Cash Flow	16.8	1.4	13.9	-6.2	57.9	93.9
Free Cash Flow Growth	1100.00%	-89.93%	-	-	-38.34%	-
FCF Margin	0.57%	0.05%	0.60%	-0.31%	3.18%	5.68%
Free Cash Flow Per Share	0.46	0.04	0.39	-0.18	1.61	2.66
Levered Free Cash Flow	-62.9	10.1	738.1	179.7	64.1	-410.7
Unlevered Free Cash Flow	70.55	77.11	69.41	16.71	99.44	84.66

Updated Jan 6, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q