AIRO Group Holdings, Inc. Common Stock (AIRO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-465.2%

-$18.92

vs $5.18 price

Levered DCF

$2.09

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.4

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	-48.12×	-15.48×	-18.46×	-23.3×	-29.27×
P/B	0.26×	1.09×	1×	0.96×	-5.62×
P/S	2.13×	6.87×	13.81×	34.97×	50.69×
EV / EBITDA	4.96×	-275.72×	-42.24×	-27.16×	-39.23×
Gross margin	59.9%	67.1%	57.6%	24.2%	29.5%
Operating margin	-31.6%	-20.1%	-23.0%	-158.1%	-21.8%
Net margin	-4.5%	-44.5%	-75.0%	-149.6%	-174.2%
Current ratio	3.45×	0.44×	0.22×	0.21×	1.19×
Debt / equity	0.01×	0.09×	0.05×	0.05×	-0.31×
Interest coverage	-2.94×	-1.23×	-4.65×	-7.47×	-0.76×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	-0.6%	-7.1%	-5.5%	-4.1%	19.3%
Return on invested capital	5.4%	-2.7%	-1.5%	-2.6%	-45.4%
Return on assets	-0.5%	-5.5%	-4.4%	-3.5%	-210.0%
Free cash flow yield	-18.3%	3.5%	3.6%	-0.9%	-0.1%
Earnings yield	-2.1%	-6.5%	-5.4%	-4.3%	-3.4%
Enterprise value	$125.6M	$625.5M	$624.1M	$627.4M	$630.6M
Net debt / EBITDA	-2.69×	-12.44×	-1.82×	-1.3×	-2.07×
Cash conversion cycle (days)	104	-53	-267	-190	143