AeroVironment, Inc. (AVAV) Stock

AeroVironment, Inc. (AVAV) is a Industrials stock trading at $159.03 (as of 2026-08-20), with a market capitalization of $8.05B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

AeroVironment develops and supports unmanned systems and related services through segments including Unmanned Aircraft Systems, Tactical Missile System, Medium Unmanned Aircraft Systems, and High Altitude Pseudo-Satellite Systems. Its products include aircraft platforms and payloads, ground control and support equipment, and small UAS offerings, serving U.S. Department of Defense organizations and international allied governments.

Understand AeroVironment, Inc.: how it makes money

AeroVironment designs, develops, produces, delivers, and supports robotic systems (including unmanned aircraft systems and loitering munitions) and related services sold mainly to U.S. Department of Defense organizations and international allied governments, earning money through defense program product sales and contract services.

Profitability depends on turning contract awards into revenue, with reported order momentum shown by the Book-to-bill ratio (2.9).

Business quality (Weak): Strong sign of order intake from the Book-to-bill ratio, but the company is still reporting a deeply negative operating margin, so near term cost control is a key question for investors.

Bull case

  • Order intake looks strong: The Book-to-bill ratio is 2.9, and the Contract awards ceiling value is 3.5 USD_B.
  • Notable loitering munitions momentum: Switchblade contract awards (Loitering Munitions Systems orders secured) are reported at 0.35 USD_B, with a Largest single Switchblade award of 0.29 USD_B.
  • Capacity to support product revenue: Switchblade capacity (annual product revenue support) and Loitering Munitions Systems manufacturing capacity (annual product revenue support) are each 0.5 USD_B.

Bear case

  • Operating losses persist: Operating margin is -65.8%, while gross margin is 24.2%, indicating operating costs are significantly outweighing gross profit.
  • Program execution and timing risk: Revenue and growth depend largely on defense agency programs, where contract awards and funding timing can shift, affecting how quickly orders translate into revenue.
Valuation — source: SEC EDGAR (first-party)
Price$159.03
Market Cap$8.05B
Price / Book1.83
Price / Sales4.07
FCF Yield-2.8%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.98B
Net Margin-13.4%
Revenue Growth (YoY)140.9%
EPS Growth (YoY)-446.2%
FCF Growth (YoY)484.0%
Financial Health — source: SEC EDGAR
Altman Z-Score4.14 (safe)
Piotroski F-Score2/9 (weak)
Valuation vs Sector & Industry
Sector P/E (Industrials)25.9
Industry P/E (Aircraft)40.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($907.87M)
Institutional Holders Tracked10
Congressional Trades (recent)3
Company
SectorIndustrials
IndustryAircraft
CEOWahid Nawabi
Employees1,403
CountryUS
IPO Date2007-01-23

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AVAV earnings history · AVAV institutional & insider holders · AVAV KPIs & operating metrics · AVAV financials · AVAV investor presentations & press releases · AVAV SEC filings · AVAV peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.