AAR Corp.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $187.7M | $12.5M | $46.3M | $90.2M | $78.7M | $35.8M | $4.4M | $7.5M |
| Depreciation & Amortization | $72.1M | $55.2M | $40.2M | $27.2M | $33.1M | $36.3M | $43.7M | $42.8M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $24.1M | $16.2M | $7.3M | $1.3M | $1.1M | $1.8M | $2.3M | $3.9M |
| Stock-Based Compensation | $17.8M | $19.9M | $15.3M | $13.5M | $8.2M | $9.2M | $7.3M | $13.5M |
| Net Cash from Operating Activities | $98.7M | $36.1M | $43.6M | $23.3M | $75.2M | $105.2M | $-36.1M | $67.4M |
| Investing Activities | ||||||||
| Capital Expenditures | $36.6M | $34.7M | $29.7M | $29.5M | $17.3M | $11.3M | $23.6M | $17.4M |
| Business Acquisitions | $259.4M | $1.5M | $722.9M | $103.3M | — | — | — | $2.3M |
| Net Cash from Investing Activities | $-308.7M | $10.7M | $-758.5M | $-138.0M | $-16.5M | $-500.0K | $-24.8M | $-19.0M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | $100.0K | $10.7M | $10.5M |
| Stock Repurchases | — | $10.1M | $5.1M | $50.1M | $42.4M | — | $4.1M | $10.3M |
| Net Cash from Financing Activities | $208.6M | $-33.7M | $729.2M | $137.7M | $-59.8M | $-469.5M | $444.5M | $-48.7M |
| Net Change in Cash | $-1.4M | $13.1M | $14.3M | $22.9M | $-1.3M | $-364.5M | $383.6M | $-500.0K |
| Free Cash Flow | $62.1M | $1.4M | $13.9M | $-6.2M | $57.9M | $93.9M | $-59.7M | $50.0M |