AeroVironment, Inc.
- Open
- 145.00
- Day high
- 148.35
- Day low
- 142.02
- Prev close
- 149.29
- Volume
- 1.3M
- Mkt cap
- $7.1B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.6
- P/S
- 3.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$134K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
AeroVironment, Inc. (AVAV) is a Industrials company listed on NASDAQ. The stock is down 48% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4). Drillr has 2 published research articles covering AVAV.
AeroVironment, Inc. (AVAV) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 12 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AVAV earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 29, 2026 | $1.47 | $1.84 | +25.2% | $642M | +15.4% |
| Mar 2, 2026 | $0.68 | $0.64 | -5.6% | $408M | -14.2% |
| Dec 9, 2025 | $0.78 | $0.44 | -43.3% | $473M | +0.6% |
| Sep 9, 2025 | $0.37 | $0.32 | -12.4% | $455M | +3.9% |
| Jun 24, 2025 | $1.38 | $1.61 | +16.7% | $275M | +13.9% |
| Mar 4, 2025 | $0.58 | $0.30 | -48.3% | $168M | -30.8% |
| Dec 4, 2024 | $0.72 | $0.47 | -34.7% | $188M | +3.7% |
| Sep 4, 2024 | $0.65 | $0.89 | +36.9% | $189M | +2.6% |
| Mar 4, 2024 | $0.33 | $0.63 | +90.9% | $187M | +9.4% |
| Dec 5, 2023 | $0.67 | $0.97 | +44.8% | $181M | +5.8% |
| Sep 5, 2023 | $0.26 | $1.00 | +284.6% | $152M | +18.6% |
| Mar 6, 2023 | $0.34 | $0.33 | -2.9% | $134M | -18.6% |
AVAV insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Votel Joseph L.director | Grant | 261 | — |
| Jul 6, 2026 | Lynn William IIIdirector | Grant | 892 | — |
| Jul 6, 2026 | Long Mary Bethdirector | Grant | 1,047 | — |
| Jul 6, 2026 | Davidson Phillip Sdirector | Grant | 1,047 | — |
| Jul 6, 2026 | Long Mary Bethdirector | Grant | 130 | — |
| Jul 6, 2026 | Lewis Cindy Kaydirector | Grant | 1,047 | — |
| Jul 6, 2026 | Nawabi Wahiddirector, officer: Chair, President and CEO | Grant | 97 | $140.31 |
| Jul 6, 2026 | PAGE STEPHEN Fdirector | Grant | 130 | — |
| Jul 6, 2026 | Lewis Cindy Kaydirector | Grant | 261 | — |
| Jul 6, 2026 | Brown Melissa Annofficer: EVP, Chief Legal Officer | Grant | 1,744 | — |
| Jul 6, 2026 | Woodward Sean Thomasofficer: CFO | Grant | 97 | $140.31 |
| Jul 6, 2026 | MULLER EDWARD Rdirector | Grant | 1,047 | — |
| Jul 6, 2026 | McDaniel Clum Mary Elizabethofficer: President, Space, Cyber & DE | Grant | 1,210 | — |
| Jul 6, 2026 | Stevenson Trace Eofficer: President, Autonomous Systems | Grant | 2,406 | — |
| Jul 6, 2026 | PAGE STEPHEN Fdirector | Grant | 1,047 | — |
Source: AVAV SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full AVAV insider & 13F page →AVAV research & analysis
AVAV Stock: Chernobyl Drone Strike Lifts Anti-Drone Defense
A Russian drone hit a nuclear fuel site near Chernobyl as Iran tensions add to drone-defense urgency. What it means for AVAV and the anti-drone defense thesis.
KTOSUkraine Drone Demand Surge: Why AVAV, LMT, and RTX Are Watching Closely
Ukraine's recruitment of foreign drone pilots, featuring a Nigerian operator, signals intensifying UAV needs that could boost AeroVironment's Ukraine-heavy revenue and peers' backlogs. AVAV's Red Dragon and counter-UAS tech align perfectly, with strong FY26 guidance amid volatile shares. Broader defense giants like LMT, NOC, and RTX benefit from aid replenishment.
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AeroVironment, Inc. company profile
Overview
AeroVironment, Inc. (NASDAQ:AVAV) is a defense technology company founded in 1971 and headquartered in Arlington, Virginia. The company has evolved from its early days as an aerospace research firm into a leading manufacturer of unmanned aircraft systems and tactical missile systems. AeroVironment went public in 2007 and has established itself as a key supplier to the U.S. Department of Defense and international allied governments. The company has experienced significant growth in recent years, driven by increased global demand for autonomous military systems, particularly following the conflict in Ukraine which demonstrated the effectiveness of unmanned warfare technologies.
Business
AeroVironment operates in the defense technology sector, specializing in unmanned systems and autonomous weapons platforms. The company's business is organized into three primary segments that collectively generated approximately $717 million in fiscal 2024 revenue. The Loitering Munition Systems (LMS) segment represents the company's fastest-growing division, accounting for roughly 27% of total revenue. This segment primarily produces the Switchblade family of weapons, which are essentially small, portable drones equipped with explosive warheads that can loiter in an area before striking targets with precision. The Switchblade 300 is designed for anti-personnel missions, while the larger Switchblade 600 targets armored vehicles and structures. These "kamikaze drones" can be launched from small tubes, fly to designated areas, identify targets using onboard cameras, and either strike immediately or wait for optimal targeting opportunities. The Unmanned Systems (UxS) segment generates approximately 62% of revenue and focuses on reconnaissance and surveillance drones. The flagship product is the Puma system, a hand-launched aircraft used for intelligence gathering, surveillance, and reconnaissance missions. The segment also includes the JUMP 20, a larger vertical takeoff and landing aircraft capable of longer-range missions, and various smaller systems like the Raven. These systems provide military units with real-time aerial intelligence without risking human pilots. The MacCready Works segment, contributing about 11% of revenue, develops advanced autonomous systems, artificial intelligence capabilities, and specialized engineering solutions. This division works on cutting-edge projects including high-altitude pseudo-satellite systems (HAPS) and next-generation autonomous technologies that enhance the company's core product offerings.
Revenue model
AeroVironment generates revenue primarily through direct product sales to government customers, with the U.S. Department of Defense representing the largest customer base. The company operates under a traditional defense contractor business model, securing contracts through competitive bidding processes and fulfilling orders for both initial system purchases and ongoing support services. The company's revenue streams include initial system sales, spare parts, maintenance services, training, and software updates. A significant portion of business comes from multi-year contracts, including Indefinite Delivery/Indefinite Quantity (IDIQ) agreements that provide revenue visibility over extended periods. For example, the company recently secured a $1 billion IDIQ contract with the U.S. Army for Switchblade systems. International sales represent a growing revenue opportunity, with the company approved to market products to over 50 allied countries. These sales typically occur through Foreign Military Sales (FMS) channels, where the U.S. government facilitates exports to approved allies, or through Direct Commercial Sales (DCS) arrangements. Several factors influence the company's profitability margins. Positive factors include economies of scale as production volumes increase, favorable contract terms with progress payments, and the specialized nature of products that command premium pricing. The company benefits from limited competition in certain niche markets and strong relationships with military customers who value proven, battle-tested systems. Margin pressures come from supply chain constraints, particularly for specialized semiconductors and warhead components, which can increase costs and limit production capacity. Global supply chain disruptions, component shortages, and the need for security clearances for manufacturing personnel also impact operational efficiency. Additionally, the company faces pricing pressure in competitive bidding situations and must continually invest in research and development to maintain technological advantages.
Competitive moat
AeroVironment possesses a moderate but meaningful competitive moat built on several key advantages. The company benefits from significant barriers to entry in the defense sector, including the need for security clearances, established relationships with military customers, and proven track records of delivering reliable systems in combat conditions. The Switchblade systems, in particular, have demonstrated real-world effectiveness in Ukraine, providing credible battlefield validation that competitors cannot easily replicate. The company's technical expertise in miniaturization, autonomous systems, and precision targeting creates intellectual property advantages, though these are not insurmountable barriers. AeroVironment's manufacturing scale and established supply chains provide operational advantages, particularly as the company expands production capacity to support over $500 million in annual revenue for loitering munitions alone. However, the moat faces several challenges. The defense technology sector attracts well-funded competitors, including large defense contractors like Raytheon, Lockheed Martin, and emerging players focusing on autonomous systems. The relatively straightforward nature of some unmanned systems means that technological barriers may erode over time as competitors develop similar capabilities. International competition poses a growing threat, particularly from countries developing their own drone capabilities. Additionally, the rapid pace of technological change in artificial intelligence and autonomous systems means that today's advantages may become tomorrow's commodities. The company's dependence on government customers also creates vulnerability to budget cuts, policy changes, or shifts in military priorities. The strength of AeroVironment's moat ultimately depends on its ability to continuously innovate, maintain cost advantages through scale, and leverage its established customer relationships to secure long-term contracts. While the company has meaningful competitive advantages today, these require constant reinforcement through R&D investment and operational excellence.
Risks & safety
AeroVironment demonstrates a solid financial position with reasonable margin of safety, though some metrics warrant attention. **Liquidity and Solvency:** - Strong current ratio of 4.22, indicating ample short-term liquidity - Cash and short-term investments of $47 million provides operational cushion - Low debt-to-equity ratio of 0.069 shows conservative capital structure - However, recent negative free cash flow of -$29.6 million raises short-term concerns **Operational Performance:** - Inconsistent profitability with recent quarterly net loss of -$1.8 million - EBITDA of $7.2 million shows underlying operational challenges - Revenue volatility due to lumpy government contract timing - Strong backlog of $764 million provides revenue visibility **Valuation Metrics:** - High EV/EBITDA ratio of 176x suggests expensive valuation - Price-to-book ratio of 5.87 indicates premium to tangible assets - Graham net-net value of 5.96 suggests potential undervaluation on asset basis - Current stock price appears elevated relative to near-term earnings power **Other Considerations:** - Pending BlueHalo acquisition adds execution risk and integration challenges - Dependence on government contracts creates revenue concentration risk - Supply chain disruptions and operational challenges from recent California wildfires
Recent development
Over the past several years, AeroVironment has undergone significant strategic transformation, evolving from primarily a small unmanned aircraft manufacturer into a comprehensive autonomous weapons systems provider. The most notable development has been the explosive growth of the Loitering Munition Systems segment, particularly the Switchblade product line, which has grown from a niche offering to representing 27% of total company revenue. The company has dramatically expanded its manufacturing capabilities, investing in production facilities to support over $500 million in annual Switchblade revenue. This expansion includes a new facility in Utah and ongoing capacity enhancements to meet growing domestic and international demand. The real-world validation of Switchblade systems in the Ukraine conflict has accelerated global interest and led to export approvals for over 50 allied countries. A transformative strategic move is the pending acquisition of BlueHalo, expected to close in Q2 2025, which will create a combined entity with approximately $1.7 billion in annual revenue. This acquisition significantly broadens AeroVironment's capabilities into counter-unmanned aircraft systems, space communications, and cybersecurity, positioning the company as a more comprehensive defense technology provider. The company has also invested heavily in artificial intelligence and autonomous capabilities through its MacCready Works division, developing products like the Autonomy Retrofit Kit (ARK), AVACORE software suite, and SPOTR-Edge computer vision systems. These technologies enhance the autonomous capabilities of existing platforms and create new revenue opportunities. Recent contract wins demonstrate the company's growing market position, including a $1 billion IDIQ contract with the U.S. Army and selection for multiple high-profile programs like the Army's LASSO program and the Pentagon's Replicator initiative. International expansion has accelerated with contracts from Lithuania, Denmark, and other NATO allies, diversifying the customer base beyond U.S. government dependence.
AVAV company profile · for informational purposes only — not investment advice.
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