AVAV Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $140.82
Market Cap $7.13B
P/E (TTM) -35.1
EPS (TTM) $-4.01
Revenue (TTM) $2.00B
ROE -6.0%
Debt/Equity 0.2
52W Range $135–$418

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04
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About AeroVironment, Inc. - Common Stock Company overview from Wikipedia

05 · wikidata

AeroVironment, Inc., also known as AV, is an American defense technology company headquartered in Arlington, Virginia that designs and manufactures autonomous systems, counter-UAS systems, and space systems. The company was founded in 1971 by Paul B. MacCready Jr., a designer of human-powered aircraft. The company provides the US Department of Defense and foreign militaries with small and medium-sized drones—notably the Raven, Switchblade, Wasp, and Puma. Through its acquisition of BlueHalo in 2025, the company provides directed energy and space communications systems to U.S. and foreign militaries.

As of 2026, the company's market cap was $10B.

History

On January 7, 2024, AeroVironment was sanctioned by the Chinese government due to U.S. arms sales to Taiwan. On March 4, 2025, the Chinese Ministry of Commerce placed 15 U.S. entities (including AeroVironment) on its export control list, barring the export of dual-use commodities to that business.

In May 2025, AeroVironment announced it had completed its acquisition of BlueHalo, a developer of space, cyber, and counter-UAS defense technologies, from Arlington Capital Partners, in an all-stock deal with a transaction value of approximately $4.1 billion.

Vehicles

Among the vehicles the company built are:

Gossamer Condor – The first successful human-powered airplane. The Gossamer Condor is on display at the US National Air and Space Museum (NASM), since it won the first Kremer Prize in 1977.

Gossamer Albatross – In 1979, this human-powered plane flew 23 miles (37 km) across the English Channel and claimed the largest prize in aviation history. Another of these planes is displayed at the National Air and Space Museum.

Gossamer Penguin – A solar-powered variant of the Gossamer Albatross.

Solar Challenger – This plane flew 163 miles (262 km) from Paris, France, to England on solar power.

High Altitude Solar (HALSOL)-This solar-powered unmanned aircraft was sponsored by the CIA in the 1980s as the first unmanned solar-powered aircraft prototyped for national security missions. It was declassified and transferred to the Ballistic Missile Defense Organization (BMDO) in 1993, where it was modified as a high altitude, long endurance (HALE) UAV technology demonstrator capable of becoming weaponized to destroy boost-phase theater ballistic missiles (Boost Phase Intercept).The goal was to develop the world's first "fly forever" HALE UAV that could be configured for national security missions. The program was cancelled in 1995, due to budget reductions in the Clinton Administration at which time the aircraft, called Pathfinder, was transferred to NASA. Pathfinder flew flight test missions at NASAs Dryden Flight Research Center before the transfer.

NASA Pathfinder and Pathfinder Plus – This unmanned plane, built by AeroVironment as a part of the NASA Environmental Research Aircraft and Sensor Technology (ERAST) Program, demonstrated that an airplane could stay aloft for extended periods fueled by solar power. After initial successes, the Pathfinder was rebuilt into the larger Pathfinder Plus, which is on display at NASM.

NASA Centurion – The Centurion was an expansion of the Pathfinder concept, designed to achieve the ERAST Program goal of sustained flight at 100,000 feet (30,000 m) altitude.

NASA Helios Prototype – Derived from the Centurion, this solar cell and fuel cell powered UAV set a world record for flight at 96,863 feet (29,524 m). It was intended to be the prototype for the production Helios aircraft, envisioned as an "atmospheric satellite". The ERAST program was terminated in 2003, and as of 2008, Helios has not entered production. In actuality, it has been reborn in the form of the Global Observer UAS, currently in development under a Joint Concept Technology Demonstration led by United States Special Operations Command (USSOCOM]). The key technology shift was switching from solar power to liquid hydrogen power.

Global Observer – The Los Angeles Times reported first flight of Global Observer in the Mojave Desert in January, 2011. The aircraft was powered by hydrogen. It appears to have 4 motors with twin-bladed props, a 175-foot (53 m) wingspan, 65,000-foot (20,000 m) maximum altitude, airspeed greater than 120 mph (190 km/h), and 5 to 7 day maximum flight duration.

Sunraycer – This solar-powered car won the first world's first solar car race in Australia in 1987. The next fastest car finished two days later. This car is at the Smithsonian National Museum of American History.

GM Impact – This was an electric car, developed as a prototype for a mass-production consumer car.

RQ-11 Raven – a small military UAV. It is hand launched with a wingspan of 4.5 feet (1.4 m) and a weight of 4.2 pounds (1.9 kg), providing color and infrared video to its handheld ground control and remote viewing stations. Over 9,000 Ravens had been delivered or were on order as of June 2008.

Wasp III – a miniature, hand-launched UAV that provides aerial observation at line-of-sight ranges up to 3.1 miles (5.0 km). In 2007, the Wasp was selected by the US Air Force as the choice for their BATMAV Program. As of 2008, over 1,000 Wasp aircraft had been delivered.

RQ-20 Puma – a small lightweight, battery powered, hand-launched production UAV that provides aerial observation at line-of-sight ranges up to 6.2 miles (10.0 km). Puma's avionics enable autonomous flight via GPS navigation. It was designed to demonstrate advanced propulsion technologies. It flew in June 2007 for five hours, powered by an onboard "fuel cell battery hybrid energy storage system". A flight in November 2007 lasted more than seven hours. On July 2, 2008, USSOCOM selected the Puma AE variant as its All Environment Capable Variant (AECV) solution.

Nano Hummingbird – Announced in 2011, a hummingbird look-alike drone equipped with a camera, it could fly at speeds of up to 11 miles (18 km) per hour. It could climb and descend vertically, fly sideways, forward and backward, as well as rotate clockwise and counter-clockwise by remote control for about eight minutes.

SkyTote – a vertical take-off and landing (VTOL)-fixed wing hybrid UAV, which offered VTOL takeoff capability and decreased energy usage.

Switchblade – A man-portable family of electrically powered loitering munition for field use. It is deployed in two configurations, the 300 for attacking personnel and the 600 for attacking armor.

FQM-151 Pointer

RQ-14 Dragon Eye

Puma LE (Long Endurance)

VAPOR Helicopter

Shrike – quadrocopter drone designed for "perch and stare" surveillance, weighs 5 lb (2.27 kg) with a 40 minute endurance while hovering or can land and transmit for several hours.

Snipe – a quadrotor design small enough to be deployed by an individual to collect surveillance. It weighs 5 oz (0.14 kg), can reach speeds of 20 mph (32 km/h) with a range of more than 0.6 mi (0.97 km). It has flight times of 15 minutes, can withstand winds of 15 mph (24 km/h), and is equipped with EO/IR. It is low light-capable and includes long-wave infrared sensors to take photos or video in day or night conditions. In May 2017, the first 20 Snipes were delivered to an undisclosed U.S. military customer.

Quantix – drone, 40 km range, 45 min flight time, 2.3 kg weight, controlled via encrypted radio, automated, programmed autonomous flights possible, multifunctional camera.

Red Dragon – One-way attack drone designed for autonomous strike, weighs 45 lb (20 kg) and has a range of 250 mi (400 km). It is equipped with AI that uses visual for navigation and automatic target recognition to counter jamming.

Programs

As of 2007, AeroVironment held a five-year, $4.7 million IDIQ (indefinite-delivery, indefinite-quantity) contract from the U.S. Air Force Research Laboratory to develop UAV propulsion technologies. The contract also provided for specific tasks such as integration of solar cells into aircraft wings, electric motor efficiency improvement, and hydrogen storage systems.

In 2023, Israel submitted a request to the US Department of Defense for 200 Switchblade 600 attack drones. As of 7 November, it is unclear whether the request has been approved.

Following Russia's 2022 invasion of Ukraine, the United States supplied the Armed Forces of Ukraine with more than 700 Switchblade 300 loitering munitions as part of military aid packages announced in March and April 2022. The larger, anti-armor Switchblade 600 followed after additional testing and was first used in combat in early 2023.

In 2026, Joint Interagency Task Force 401 awarded AeroVironment a $500 million sole-source IDIQ contract supporting the U.S. Department of War's "Domestic Shield" initiative to protect domestic critical infrastructure from drone threats. Under the contract, the task force exercised an order worth $80.5 million for AeroVironment's Titan-MS multi-sensor counter-UAS system, following an earlier Titan system purchase by the task force.

Directed energy

Following AeroVironment's 2025 acquisition of BlueHalo, the company develops directed-energy weapons under the LOCUST high-energy laser (HEL) brand. In October 2025, it demonstrated a palletized LOCUST laser system, the P-HEL, aboard the aircraft carrier USS George H.W. Bush (CVN-77) in a live-fire test conducted with the U.S. Navy and the Army's Rapid Capabilities and Critical Technologies Office, tracking and neutralizing multiple drone targets from the moving ship. In March 2026, LOCUST was tested at White Sands Missile Range in coordination with Joint Interagency Task Force 401 and the Federal Aviation Administration, demonstrating safe operation in complex national airspace and supporting a subsequent agreement between the Department of War and the FAA validating the system for domestic counter-drone use.

HAPSMobile

HAPSMobile is a subsidiary of SoftBank planning to operate High Altitude Platform Station (HAPS) networks, with AeroVironment as a minority owner. HAPSMobile develops the Hawk30 solar-powered unmanned aircraft for stratospheric telecommunications, and has a strategic relationship with Loon LLC, a subsidiary of Google's parent Alphabet Inc.

Subsidiaries

AeroVironment owns Skytower, Inc., which was formed in 2000 to develop the technologies and government approvals to use high altitude UAVs as "atmospheric satellites", or high altitude communications relay platforms.

In July 2002, the NASA/AeroVironment UAV Pathfinder Plus carried commercial communications relay equipment developed by Skytower to test using the aircraft as an "atmospheric satellite". Skytower, in partnership with NASA and the Japan Ministry of Telecommunications used the aircraft to transmit both an HDTV signal as well as an IMT-2000 wireless communications signal from 65,000 ft (20,000 m). It was the equivalent of a 12 mi (19 km) tall transmitter tower. Because of the aircraft's high angle, the transmission utilized only one watt of power, or 1/10,000 that required by a terrestrial tower to provide the same signal. According to SkyTower's Stuart Hindle, "SkyTower platforms are basically geostationary satellites without the time delay." Hindle said that such platforms flying in the stratosphere, as opposed to actual satellites, can achieve much higher levels of frequency use. "A single SkyTower platform can provide over 1,000 times the fixed broadband local access capacity of a geostationary satellite using the same frequency band, on a bytes per second per square mile basis."

In January 2021, the company acquired Arcturus UAV, the manufacturer of the Arcturus T-20 UAV for US$405m.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorIndustrials industryAerospace & Defense employees3,991 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$1.98B
2017-04-30 → 2026-04-30
EPS$-5.40
2017-04-30 → 2026-04-30
Free Cash Flow$-141M
2017-04-30 → 2026-04-30
Net margin-10.1%
2017-04-30 → 2026-04-30
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend AVAV 5Y avg Peer Median Verdict
P/E (TTM) -35.15Y avg ≈-70.4 ≈-70.4 · ·
P/S 3.65Y avg ≈5.2 ≈5.2 5.0 Fair value
P/B 1.65Y avg ≈4.0 ≈4.0 4.1 Undervalued
EV / EBITDA -157.25Y avg ≈-20.6 ≈-20.6 · ·
Price / FCF -50.65Y avg ≈-223.7 ≈-223.7 · ·
Price / Cash Flow -90.95Y avg ≈-822.5 ≈-822.5 · ·
EV / Revenue 3.75Y avg ≈5.3 ≈5.3 · ·
EV / FCF -51.35Y avg ≈-222.9 ≈-222.9 · ·
Price / Tangible Book 7.35Y avg ≈9.3 ≈9.3 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Beat Rate 50.0%
Avg Surprise 23.3%
PeriodReportEPS ActualEPS EstSurprise
March 31, 2027 Sep 9, 2026 $0.59 $0.25 136.0%
Sept. 30, 2026 $0.59 $0.25 136.0%
June 30, 2026 $1.84 $1.49 23.2%
March 31, 2026 $0.64 $0.71 -9.3%
Dec. 31, 2025 $0.44 $0.79 -44.6%
Sept. 30, 2025 $0.32 $0.38 -15.1%
June 30, 2025 $1.61 $1.42 13.4%
March 31, 2025 $0.30 $0.64 -53.0%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 16
Metric Trend 202620252024202320222021202020192018201720162015
Revenue $1.98B$821M$717M$541M$446M$395M$367M$314M$268M$233M$234M$259M
Cost of Revenue $1.48B$502M$433M$367M$304M$230M$214M$186M$161M$136M$128M$155M
Gross Profit $501M$319M$284M$174M$141M$165M$153M$128M$108M$97M$106M$104M
R&D Expense $128M$101M$98M$64M$55M$54M$46M$34M$26M$28M$35M$46M
SG&A Expense $443M$159M$114M$132M$96M$67M$59M$60M$51M$48M$50M$56M
Operating Income $-311M$41M$72M$-179M$-10M$43M$47M$34M$30M$21M$20M$2M
Interest Income $19M·····$5M$5M$2M$2M$1M$882.0K
Other Non-op $11M$1M$-4M$-346.0K$-10M$-8M$707.0K$12M$-49.0K$172.0K$-3M$-1M
Pretax Income $-288M$45M$62M$-191M$-13M$24M$47M$47M$31M$22M$18M$2M
Income Tax $-23M$882.0K$2M$-15M$-10M$539.0K$6M$5M$10M$5M$3M$-1M
Net Income $-265M$44M$60M$-176M$-4M$23M$41M$47M$18M$13M$9M$13M
EPS (Basic) $-5.40$1.56$2.19$-7.04$-0.17$0.97$1.73$2.00$0.76$0.57$0.39$0.13
EPS (Diluted) $-5.40$1.55$2.18$-7.04$-0.17$0.96$1.71$1.97$0.75$0.56$0.39$0.13
Shares (Basic) 49,087,34628,018,65627,203,41725,044,88124,685,53424,049,85123,806,20823,663,41023,471,24123,059,04522,936,41322,868,733
Shares (Diluted) 49,087,34628,173,48827,327,99325,044,88124,685,53424,362,65624,088,16724,071,71323,813,77223,307,73823,153,49323,145,997
EBITDA $-46M$82M$108M·$51M$63M$57M$41M$38M$20M$16M$10M
Balance Sheet 26
Metric Trend 202620252024202320222021202020192018201720162015
Cash & Equivalents $377M$41M$73M$133M$77M$149M$255M$173M$144M$80M$124M$143M
Short-term Investments $255M···$25M$32M$48M$150M$114M$120M$103M$85M
Receivables $316M$102M$70M$88M$60M$63M$74M$31M$57M$69M$56M$34M
Inventory $313M$144M$150M$139M$91M$72M$46M$54M$37M$41M$37M$39M
Prepaid Expense $52M$29M$22M$12M$12M$15M$6M$7M$5M$6M$4M$5M
Current Assets $1.89B$607M$516M$477M$369M$402M$504M$470M$399M$354M$344M$329M
PP&E (Net) $167M$51M$47M$40M$62M$59M$22M$17M$19M$16M$17M$13M
PP&E (Gross) $373M$230M$222M$203M$184M$152M$102M$92M$88M$80M$93M$84M
Accum. Depreciation $206M$180M$175M$163M$122M$93M$80M$75M$69M$64M$76M$71M
Goodwill $2.49B$257M$276M$181M$334M$314M$6M··$122.0K··
Intangibles $930M$49M$72M$44M$97M$106M$14M$459.0K$628.0K$2M··
Other Non-current Assets $55M$33M$14M$5M$2M$10M$11M$6M$3M$2M$750.0K$741.0K
Total Assets $5.72B$1.12B$1.02B$825M$914M$929M$585M$509M$473M$432M$411M$397M
Accounts Payable $161M$72M$48M$31M$19M$25M$20M$16M$21M$16M$18M$19M
Current Liabilities $439M$172M$145M$121M$101M$96M$67M$45M$62M$48M$46M$47M
Capital Leases $88M$24M$23M$21M$22M$19M$7M··$161.0K$449.0K·
Deferred Tax $50M·$664.0K$2M$3M··$29.0K$67.0K$116.0K··
Other Non-current Liabilities $2M$2M$2M$746.0K$768.0K$10M$250.0K$150.0K$622.0K$184.0K$184.0K·
Long-term Debt $748M$30M$28M$135M$190M$200M······
Total Debt $729M$30M$27M·$188M$198M······
Common Stock $6.0K$4.0K$4.0K$4.0K$2.0K$2.0K$2.0K$2.0K$2.0K$2.0K$2.0K$2.0K
Retained Earnings $9M$274M$231M$171M$347M$351M$328M$286M$239M$220M$207M$202M
AOCI $-6M$-7M$-6M$-4M$-7M$343.0K$328.0K$2.0K$-21.0K$-127.0K$-201.0K$-1M
Stockholders' Equity $4.40B$887M$823M$551M$608M$612M$510M$463M$409M$382M$362M$349M
Liabilities + Equity $5.72B$1.12B$1.02B$825M$914M$929M$585M$509M$473M$432M$411M$397M
Shares Outstanding 50,610,51428,267,51728,134,43826,216,89724,951,28724,777,29524,063,63923,946,29323,908,73623,630,41923,359,92523,314,640
Cash Flow 18
Metric Trend 202620252024202320222021202020192018201720162015
D&A $265M$41M$36M$100M$61M$19M$10M$8M$6M$5M$4M$8M
Stock-based Comp $38M$21M$17M$11M$5M$7M$6M$7M$5M$3M$4M$4M
Deferred Tax $-27M$-21M$-21M$-20M$-8M$-3M$2M$2M$3M$179.0K$-3M$-283.0K
Amort. of Intangibles $204M$23M$18M$58M$27M$6M$3M$357.0K$296.0K$139.0K$80.0K$249.0K
Restructuring ·········$702M$933M·
Other Non-cash $-90M$-87M$-77M·$-64M$40M$-35M$-38M$37M$-34M··
Operating Cash Flow $-78M$-1M$15M$11M$-10M$87M$25M$27M$70M$-8M$6M$39M
CapEx $63M$20M$23M$15M$22M$11M$11M$9M$10M$9M$6M$5M
Investing Cash Flow $-1.23B$-28M$-52M$-7M$-52M$-379M$59M·····
Debt Issued ·····$200M······
Net Debt Issued $-700M$-28M···$200M······
Stock Issued ··$88M$105M········
Stock Repurchased ··········$4M·
Net Stock Activity ··$88M·······$-4M·
Financing Cash Flow $1.65B$-3M$-23M$51M$-17M$194M$-2M$-1M$2M$3M$-3M·
Net Change in Cash $336M$-32M$-60M$56M$-80M$-98M$82M$29M$64M$-44M$-19M·
Taxes Paid $4M$25M$20M·········
Free Cash Flow $-141M$-24M$-8M·$-32M$75M$14M$18M$61M$-20M$-6M$34M
Profitability 8
Metric Trend 202620252024202320222021202020192018201720162015
Gross Margin 25.3%38.8%39.6%·31.7%41.7%41.7%40.9%40.2%38.6%42.4%40.2%
Operating Margin -15.7%5.0%10.0%·-2.2%11.0%12.8%10.8%11.7%4.7%3.7%0.78%
Net Margin -13.4%5.3%8.3%·-0.94%5.9%11.2%15.1%7.3%4.7%··
Pretax Margin -14.6%5.4%8.6%·-3.0%6.0%12.8%14.8%12.0%5.4%3.0%0.73%
EBITDA Margin -2.3%10.0%15.0%·11.4%15.8%15.5%13.2%13.9%7.4%6.0%4.0%
ROA -7.8%4.1%6.5%·-0.45%3.1%7.5%9.7%4.4%2.9%··
ROE -6.0%5.0%7.3%·-0.69%4.2%8.2%10.5%5.0%3.4%··
ROIC -5.6%4.4%8.2%·-0.27%5.2%8.1%6.6%5.3%2.9%3.0%0.88%
Liquidity & Solvency 4
Metric Trend 202620252024202320222021202020192018201720162015
Current Ratio 4.33.53.6·3.64.27.510.56.67.47.57.0
Quick Ratio 2.20.81.0·1.62.55.67.95.25.76.15.6
Debt / Equity 0.20.00.0·0.30.3······
LT Debt / Equity 0.20.00.0·0.30.3······
Efficiency 3
Metric Trend 202620252024202320222021202020192018201720162015
Asset Turnover 0.60.80.8·0.50.50.70.60.60.60.70.7
Inventory Turnover 6.53.43.0·3.83.94.34.14.13.34.03.4
Receivables Turnover 9.59.59.1·7.35.87.07.24.34.15.97.9
Per Share 5
Metric Trend 202620252024202320222021202020192018201720162015
Book Value / Share $86.95$31.36$29.24·$24.37$24.70$21.19$19.32$17.15$16.16$15.46$14.97
Revenue / Share $40.27$29.13$26.23·$18.06$16.21$15.25$13.06$11.38$11.36$11.41$11.21
Cash Flow / Share $-1.60$-0.05$0.56·$-0.39$3.55$1.04$1.12$2.96$-0.45$0.02$1.70
Cash / Share $7.46$1.45$2.61·$3.10$6.00$10.60$7.21$6.00$3.38$5.32$6.15
EPS (TTM) $-5.40$1.55$2.18$-7.04$-0.17$0.96$1.71$1.97$0.75$0.56$0.39$0.13
Growth Rates 9
Metric Trend 202620252024202320222021202020192018201720162015
Revenue YoY 140.9%14.5%32.6%21.3%12.9%7.5%······
Revenue CAGR 3Y 54.1%22.6%22.0%13.8%········
Revenue CAGR 5Y 38.0%17.4%··········
EPS YoY ·-28.9%···-43.9%······
EPS CAGR 3Y ··31.4%·········
EPS CAGR 5Y ·-1.9%··········
Net Income YoY ·-26.9%···-43.2%······
Net Income CAGR 3Y ··36.7%·········
Net Income CAGR 5Y ·1.2%··········
Valuation (TTM) 14
Metric Trend 202620252024202320222021202020192018201720162015
Revenue TTM $1.98B$821M$717M$541M$446M$395M$367M$314M$268M$233M$234M$259M
Net Income TTM $-265M$44M$60M$-176M$-4M$23M$41M$47M$18M$13M$9M$13M
Market Cap $9.87B$4.28B$4.50B·$2.00B$2.73B$1.45B$1.64B$1.30B$675M$675M$597M
Enterprise Value $9.97B$4.27B$4.45B·$2.09B$2.75B······
P/E -36.197.873.3-14.3-472.5115.035.234.872.751.074.1196.9
P/S 5.05.26.3·4.56.93.95.24.92.92.92.3
P/B 2.24.85.5·3.34.52.83.53.21.81.91.7
P / Tangible Book 10.17.49.58.111.314.33.0·····
P / Cash Flow -125.9-3249.7294.0·-208.431.657.860.918.5-64.31224.415.1
P / FCF -70.0-177.5-584.5·-62.836.3104.591.021.4-33.2-107.517.5
EV / EBITDA -216.952.241.4·41.044.0······
EV / FCF -70.7-177.0-578.5·-65.536.6······
EV / Revenue 5.05.26.2·4.77.0······
Earnings Yield -2.8%1.0%1.4%-7.0%-0.21%0.87%2.8%2.9%1.4%2.0%1.4%0.51%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2026-04-302025-04-302024-04-302023-04-302022-04-30
Revenue $1.98B $821M $717M $541M $446M
Gross Margin % 25.3% 38.8% 39.6% · 31.7%
Operating Margin % -15.7% 5.0% 10.0% · -2.2%
Net Income $-265M $44M $60M $-176M $-4M
Diluted EPS $-5.40 $1.55 $2.18 $-7.04 $-0.17

Institutional owners (13F) 679 filers · $6.8B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 679
Value held $6.8B
New positions 99
Exited positions 95
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
99 (-47 vs prior Q) 95 (-4 vs prior Q) 237 (-42 vs prior Q) 203 (+64 vs prior Q) +1.5M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $855,628,790 3,537,264 12.57% Shares
BlackRock, Inc. $574,565,780 3,480,740 8.44% Shares
STATE STREET CORP $361,806,995 2,192,680 5.31% Shares
VANGUARD CAPITAL MANAGEMENT LLC $271,707,036 1,646,011 3.99% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $255,628,227 1,548,605 3.75% Shares
BAILLIE GIFFORD & CO $159,696,642 967,448 2.35% Shares
Heard Capital LLC $149,219,153 903,975 2.19% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $141,118,343 854,900 2.07% Call option
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $140,834,088 854,017 2.07% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $125,288,130 759,000 1.84% Put option
Invesco Ltd. $115,296,443 698,470 1.69% Shares
GEODE CAPITAL MANAGEMENT, LLC $110,946,865 671,971 1.63% Shares
JANE STREET GROUP, LLC $105,826,377 641,100 1.55% Put option
VAN ECK ASSOCIATES CORP $101,173,879 612,915 1.49% Shares
ARK Investment Management LLC $100,280,355 607,502 1.47% Shares
CIBC Private Wealth Group LLC $99,415,811 315,716 1.46% Shares
Stephens Investment Management Group LLC $93,664,515 567,423 1.38% Shares
Hood River Capital Management LLC $93,141,408 564,254 1.37% Shares
Alyeska Investment Group, L.P. $86,693,939 525,195 1.27% Shares
CONGRESS ASSET MANAGEMENT CO $81,815,295 495,640 1.20% Shares
NORGES BANK $78,101,385 473,141 1.15% Shares
MORGAN STANLEY $75,759,877 458,955 1.11% Shares
AMERICAN CAPITAL MANAGEMENT INC $69,745,046 422,518 1.02% Shares
CITADEL ADVISORS LLC $69,362,414 420,200 1.02% Put option
BANK OF AMERICA CORP /DE/ $67,549,121 409,215 0.99% Shares
PeakShares LLC $66,028,000 400 0.97% Shares
CITADEL ADVISORS LLC $63,717,020 386,000 0.94% Call option
Swedbank AB $62,175,926 376,664 0.91% Shares
MILLENNIUM MANAGEMENT LLC $56,975,891 345,162 0.84% Shares
Fisher Asset Management, LLC $56,307,328 341,111 0.83% Shares
Korea Investment CORP $54,901,457 332,595 0.81% Shares
UBS Group AG $53,880,168 326,408 0.79% Shares
JANE STREET GROUP, LLC $51,188,207 310,100 0.75% Call option
GOLDMAN SACHS GROUP INC $47,803,117 289,593 0.70% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $44,673,554 270,634 0.66% Shares
NORTHERN TRUST CORP $42,431,079 257,049 0.62% Shares
VOYA INVESTMENT MANAGEMENT LLC $41,476,314 251,265 0.61% Shares
Sumitomo Mitsui Trust Group, Inc. $40,415,739 244,840 0.59% Shares
Amova Asset Management Americas, Inc. $38,471,595 233,246 0.57% Shares
WOLVERINE TRADING, LLC $37,197,145 120,500 0.55% Call option
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $36,536,429 221,339 0.54% Shares
VANGUARD FIDUCIARY TRUST CO $34,457,702 208,746 0.51% Shares
Cubist Systematic Strategies, LLC $33,283,873 105,700 0.49% Put option
AMERIPRISE FINANCIAL INC $32,945,495 199,585 0.48% Shares
Bank of New York Mellon Corp $32,070,897 194,287 0.47% Shares
Qube Research & Technologies Ltd $31,770,528 192,467 0.47% Shares
ARS Investment Partners, LLC $30,963,170 187,576 0.45% Shares
Squarepoint Ops LLC $30,874,858 187,041 0.45% Shares
Vident Advisory, LLC $29,409,147 178,162 0.43% Shares
Cubist Systematic Strategies, LLC $29,190,303 92,700 0.43% Call option

Show all 679 institutional owners →

Activists & 5%+ owners 2 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Altitude V Holdings, LLC, Altitude VI Holdings, LLC, Arlington Capital Partners V, L.P., Arlington Capital Partners VI, L.P., Arlington Management V, L.L.C., Arlington Management VI, L.L.C. ×2 filings June 24, 2026 13.50% Amendment Board campaign SEC
Engaged Capital Master Feeder I, LP, Engaged Capital Master Feeder II, LP, Engaged Capital I, LP, Engaged Capital I Offshore, Ltd., Engaged Capital II, LP, Engaged Capital, LLC, Engaged Capital Holdings, LLC, Glenn W. Welling ×4 filings Nov. 15, 2013 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 45 insiders · 25 officers · 17 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Wahid Nawabi Chair, President and CEO July 10, 2026 F 162,200 0 0 $0
Sean Thomas Woodward CFO July 10, 2026 F 5,836 0 0 $0
Kevin Patrick Mcdonnell CFO March 10, 2026 S 16,026 0 6 $-1,387,782
Teresa Covington Chief Financial Officer June 28, 2019 A 18,463 0 0 $0
Raymond D Cook SVP and CFO July 12, 2016 S 13,879 0 0 $0
Jikun Kim SVP and CFO Aug. 1, 2014 A 42,494 0 0 $0
Stephen C Wright SVP of Finance and CFO June 29, 2009 M 5,457 0 0 $0
Clum Mary Elizabeth Mcdaniel President, Space, Cyber & DE July 10, 2026 F 16,571 0 0 $0
Trace E Stevenson President, Autonomous Systems July 10, 2026 F 9,823 0 1 $-654,177
James William Ferguson III President, Space, Cyber & DE June 27, 2025 A 47,853 0 0 $0
Robert Fendlay Smith Chief Operating Officer July 2, 2026 A 3,816 0 0 $0
Kenneth D. Karklin Sr. Vice President & COO July 9, 2021 F 14,644 0 0 $0
Tom Herring COO April 30, 2014 M 24,287 0 0 $0
Brian Charles Shackley SVP, Chief Accounting Officer Sept. 15, 2026 S 7,788 0 5 $-192,196
Melissa Ann Brown EVP, Chief Legal Officer July 10, 2026 F 26,085 0 0 $0
Bradley Dean Truesdell Chief Operations Officer Oct. 5, 2025 F 1,701 0 0 $0
Alison Marie Roelke VP & Chief People Officer July 2, 2021 A 4,585 0 0 $0
Kirk J. Flittie VP & General Manager of UAS July 11, 2019 F 36,557 0 0 $0
Douglas E Scott SVP, Gen. Counsel, Secretary July 12, 2016 S 18,014 0 0 $0
Cathleen S Cline Senior VP of Administration Jan. 14, 2016 M 18,318 0 0 $0
Roy E. Minson SVP and GM April 7, 2015 S 42,618 0 0 $0
Michael Bissonette SVP and GM June 15, 2011 A 1,019 0 0 $0
John F Grabowsky Executive VP and GM Jan. 14, 2010 M 0 0 0 $0
Patrick R Dellario VP and GM Oct. 8, 2007 S 0 0 0 $0
Paul B Maccready Founder Jan. 26, 2007 S 1,890,508 0 0 $0
Stephen F Page Director Sept. 15, 2026 S 48,253 0 11 $-957,004
Michael Ruppert Director Sept. 14, 2026 A 957 0 0 $0
Edward R Muller Director July 13, 2026 J 49,691 0 0 $0
Joseph L. Votel Director July 2, 2026 A 4,189 0 0 $0
Mary Beth Long Director July 2, 2026 A 4,220 0 0 $0
Phillip S Davidson Director July 2, 2026 A 4,358 0 0 $0
Cindy Kay Lewis Director July 2, 2026 A 7,724 0 0 $0
William Lynn III Director July 2, 2026 A 892 0 0 $0
Charles Thomas Burbage Director July 2, 2026 A 51,764 0 0 $0
Charles R Holland Director July 7, 2022 S 56,998 0 0 $0
Timothy E Conver Director Sept. 16, 2021 S 238,326 0 0 $0
Arnold L Fishman Director July 2, 2021 A 14,551 0 0 $0
Joseph F Alibrandi Director June 24, 2015 A 8,209 0 0 $0
Kenneth R Baker Director July 1, 2013 M 3,815 0 0 $0
Murray Gell-Mann Director April 22, 2013 A 3,815 0 0 $0
BLUEHALO HOLDINGS PARENT, LLC 10% owner May 1, 2025 J 0 0 0 $0
Judy Maccready 10% owner April 24, 2009 S 2,106,132 0 0 $0
Brett P Hush · July 11, 2024 F 4,797 0 0 $0
Jeff E Rodrian · July 11, 2024 F 3,493 0 0 $0
Catharine Merigold · June 30, 2023 A 23,744 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 51 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
ARKX · ARK ETF Trust 4.53% 230,428 NS July 31, 2026 N-PORT
ARKQ · ARK ETF Trust 2.73% 339,243 NS July 31, 2026 N-PORT
SPIT · RBB Fund, Inc. 2.29% 5,107 NS July 31, 2026 N-PORT
RFG · Invesco Exchange-Traded Fund Trust 0.86% 20,469 SH Oct. 2, 2026 Daily
PPA · Invesco Exchange-Traded Fund Trust 0.57% 302,345 SH Oct. 2, 2026 Daily
ITA · iShares Trust 0.37% 322,991 SH Sept. 11, 2026 Daily
QQQJ · Invesco Exchange-Traded Fund Trust … 0.36% 30,027 SH Oct. 2, 2026 Daily
IVOG · VANGUARD ADMIRAL FUNDS 0.28% 31,817 SH Aug. 19, 2026 Daily
DFEN · Direxion Shares ETF Trust 0.22% 5,755 NS July 31, 2026 N-PORT
ISCG · iShares Trust 0.19% 12,102 SH Sept. 11, 2026 Daily
VBK · VANGUARD INDEX FUNDS 0.17% 503,795 SH Aug. 19, 2026 Daily
PAMC · Pacer Funds Trust 0.16% 584 NS July 31, 2026 N-PORT
TRFM · ETF Series Solutions 0.16% 2,593 NS July 31, 2026 N-PORT
IVOO · VANGUARD ADMIRAL FUNDS 0.15% 52,024 SH Aug. 19, 2026 Daily
PTMC · Pacer Funds Trust 0.13% 3,529 NS July 31, 2026 N-PORT
BBMC · J.P. Morgan Exchange-Traded Fund Tr… 0.12% 16,688 NS July 31, 2026 N-PORT
BKMC · BNY Mellon ETF Trust 0.12% 5,196 NS July 31, 2026 N-PORT
SMDX · Tidal Trust III 0.10% 902 NS July 31, 2026 N-PORT
MIDU · Direxion Shares ETF Trust 0.10% 474 NS July 31, 2026 N-PORT
ESML · iShares Trust 0.08% 15,475 SH Sept. 11, 2026 Daily
RWK · Invesco Exchange-Traded Fund Trust … 0.08% 7,347 SH Oct. 2, 2026 Daily
SMMD · iShares Trust 0.08% 20,397 SH Sept. 11, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.07% 870,687 SH Aug. 19, 2026 Daily
VIS · VANGUARD WORLD FUND 0.07% 39,476 SH Aug. 19, 2026 Daily
IYJ · iShares Trust 0.07% 8,989 SH Sept. 11, 2026 Daily
FIDU · FIDELITY COVINGTON TRUST 0.07% 10,695 NS July 31, 2026 N-PORT
PRFZ · Invesco Exchange-Traded Fund Trust 0.06% 11,390 SH Oct. 2, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.06% 370,311 SH Aug. 19, 2026 Daily
IWS · iShares Trust 0.06% 57,487 SH Sept. 11, 2026 Daily
IGPT · Invesco Exchange-Traded Fund Trust 0.04% 4,599 SH Oct. 2, 2026 Daily
WSML · iShares Trust 0.04% 2,002 SH Sept. 11, 2026 Daily
EQAL · Invesco Exchange-Traded Fund Trust … 0.04% 2,389 SH Oct. 2, 2026 Daily
IWR · iShares Trust 0.04% 156,339 SH Sept. 11, 2026 Daily
VONV · VANGUARD SCOTTSDALE FUNDS 0.02% 23,027 SH Aug. 19, 2026 Daily
IWD · iShares Trust 0.02% 84,547 SH Sept. 11, 2026 Daily
IUSG · iShares Trust 0.01% 28,398 SH Sept. 11, 2026 Daily
TILT · FlexShares Trust 0.01% 1,738 NS July 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.01% 1,205,533 SH Aug. 19, 2026 Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.01% 31,616 SH Aug. 19, 2026 Daily
VONE · VANGUARD SCOTTSDALE FUNDS 0.01% 6,270 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.01% 3,164 SH Aug. 19, 2026 Daily
IWB · iShares Trust 0.01% 26,307 SH Sept. 11, 2026 Daily
IWV · iShares Trust 0.01% 10,307 SH Sept. 11, 2026 Daily
IYY · iShares Trust 0.01% 1,358 SH Sept. 11, 2026 Daily
ITOT · iShares Trust 0.01% 41,263 SH Sept. 11, 2026 Daily
DFAC · Dimensional ETF Trust 0.00% 12,384 NS July 31, 2026 N-PORT
IJH · iShares Trust · 1,130,763 SH Sept. 11, 2026 Daily
IJK · iShares Trust · 187,004 SH Sept. 11, 2026 Daily
XJH · iShares Trust · 4,415 SH Sept. 8, 2026 Daily
ISCB · iShares Trust · 1,703 SH Sept. 11, 2026 Daily
SMLF · iShares Trust · 17,117 SH Sept. 11, 2026 Daily

AVAV Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 28 analysts BUY
Median target $220.00 +56.2%
10 35.7% Strong Buy
14 50.0% Buy
4 14.3% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

19 analysts · 2026-09-30

Mean target $219.35 +55.8%

← Below all targets Current price $140.82
Low$148.57 Mean$219.35 High$315.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
AVAV $9.87B -36.1 140.9% -13.4% -6.0% 25.3%
BWXT · 48.3 18.3% 10.3% 28.4% ·
HII $13.34B 22.1 8.2% 4.9% 12.2% ·
DRS $9.06B 33.1 12.8% 7.6% 10.4% 23.8%
KTOS $13.12B 597.7 18.5% 1.6% 1.1% 22.9%
SARO $9.59B 34.6 15.8% 4.6% 10.7% ·
HXL $5.59B 194.5 -0.48% 5.8% 7.8% 23.0%
LOAR $6.37B 90.7 23.2% 14.5% 6.4% 52.7%
MRCY $7.52B -252.4 7.8% -3.0% -2.0% 28.6%
BETA · -2.2 136.0% -2094.2% -70.7% 72.2%

Latest News Recent headlines mentioning this company

23

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Source: SEC 10-Q filed Sep 10, 2026