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Side-by-side financial comparison of AAR CORP (AIR) and Barnes & Noble Education, Inc. (BNED). Click either name above to swap in a different company.
AAR CORP is the larger business by last-quarter revenue ($795.3M vs $598.2M, roughly 1.3× Barnes & Noble Education, Inc.). AAR CORP runs the higher net margin — 4.4% vs 4.2%, a 0.2% gap on every dollar of revenue. On growth, AAR CORP posted the faster year-over-year revenue change (15.9% vs 6.9%). Barnes & Noble Education, Inc. produced more free cash flow last quarter ($61.9M vs $6.2M).
AAR Corp. is an American provider of aircraft maintenance services to commercial and government customers worldwide. The company is headquartered in Wood Dale, Illinois, a Chicago suburb. The company employs about 6,000 people, operating in about 30 different countries. John Holmes is the current CEO.
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
AIR vs BNED — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $795.3M | $598.2M |
| Net Profit | $34.6M | $25.0M |
| Gross Margin | 19.7% | 21.7% |
| Operating Margin | 6.0% | 6.8% |
| Net Margin | 4.4% | 4.2% |
| Revenue YoY | 15.9% | 6.9% |
| Net Profit YoY | 213.1% | -49.7% |
| EPS (diluted) | $0.90 | $0.72 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $795.3M | $598.2M | ||
| Q3 25 | $739.6M | $274.2M | ||
| Q2 25 | — | $233.0M | ||
| Q1 25 | — | $419.7M | ||
| Q4 24 | — | $559.7M | ||
| Q3 24 | — | $250.9M | ||
| Q2 24 | — | $192.7M | ||
| Q1 24 | — | $415.4M |
| Q4 25 | $34.6M | $25.0M | ||
| Q3 25 | $34.4M | $-18.3M | ||
| Q2 25 | — | $-23.0M | ||
| Q1 25 | — | $17.9M | ||
| Q4 24 | — | $43.2M | ||
| Q3 24 | — | $-103.9M | ||
| Q2 24 | — | $-41.9M | ||
| Q1 24 | — | $-9.3M |
| Q4 25 | 19.7% | 21.7% | ||
| Q3 25 | 18.1% | 20.2% | ||
| Q2 25 | — | 30.3% | ||
| Q1 25 | — | 22.3% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 28.7% | ||
| Q1 24 | — | 24.2% |
| Q4 25 | 6.0% | 6.8% | ||
| Q3 25 | 6.4% | -8.4% | ||
| Q2 25 | — | -4.9% | ||
| Q1 25 | — | 4.5% | ||
| Q4 24 | — | 8.4% | ||
| Q3 24 | — | -15.4% | ||
| Q2 24 | — | -16.3% | ||
| Q1 24 | — | 0.4% |
| Q4 25 | 4.4% | 4.2% | ||
| Q3 25 | 4.7% | -6.7% | ||
| Q2 25 | — | -9.9% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | — | -41.4% | ||
| Q2 24 | — | -21.7% | ||
| Q1 24 | — | -2.2% |
| Q4 25 | $0.90 | $0.72 | ||
| Q3 25 | $0.95 | $-0.54 | ||
| Q2 25 | — | $2.97 | ||
| Q1 25 | — | $0.59 | ||
| Q4 24 | — | $1.63 | ||
| Q3 24 | — | $-7.69 | ||
| Q2 24 | — | $-15.68 | ||
| Q1 24 | — | $-3.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.6M | $11.7M |
| Total DebtLower is stronger | $952.7M | $122.5M |
| Stockholders' EquityBook value | $1.6B | $283.2M |
| Total Assets | $3.2B | $1.1B |
| Debt / EquityLower = less leverage | 0.61× | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $11.7M | ||
| Q3 25 | $80.0M | $7.3M | ||
| Q2 25 | — | $9.1M | ||
| Q1 25 | — | $9.2M | ||
| Q4 24 | — | $11.6M | ||
| Q3 24 | — | $8.2M | ||
| Q2 24 | — | $10.5M | ||
| Q1 24 | — | $8.1M |
| Q4 25 | $952.7M | $122.5M | ||
| Q3 25 | $1.0B | $170.0M | ||
| Q2 25 | — | $103.1M | ||
| Q1 25 | — | $141.2M | ||
| Q4 24 | — | $177.6M | ||
| Q3 24 | — | $221.9M | ||
| Q2 24 | — | $196.3M | ||
| Q1 24 | — | $30.2M |
| Q4 25 | $1.6B | $283.2M | ||
| Q3 25 | $1.2B | $256.5M | ||
| Q2 25 | — | $272.2M | ||
| Q1 25 | — | $292.9M | ||
| Q4 24 | — | $211.4M | ||
| Q3 24 | — | $149.8M | ||
| Q2 24 | — | $80.4M | ||
| Q1 24 | — | $121.5M |
| Q4 25 | $3.2B | $1.1B | ||
| Q3 25 | $2.9B | $950.8M | ||
| Q2 25 | — | $790.3M | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $973.2M | ||
| Q2 24 | — | $909.9M | ||
| Q1 24 | — | $1.2B |
| Q4 25 | 0.61× | 0.43× | ||
| Q3 25 | 0.82× | 0.66× | ||
| Q2 25 | — | 0.38× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 2.44× | ||
| Q1 24 | — | 0.25× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $13.6M | $66.2M |
| Free Cash FlowOCF − Capex | $6.2M | $61.9M |
| FCF MarginFCF / Revenue | 0.8% | 10.4% |
| Capex IntensityCapex / Revenue | 0.9% | 0.7% |
| Cash ConversionOCF / Net Profit | 0.39× | 2.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-4.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.6M | $66.2M | ||
| Q3 25 | $-44.9M | $-67.6M | ||
| Q2 25 | — | $52.6M | ||
| Q1 25 | — | $-41.9M | ||
| Q4 24 | — | $47.4M | ||
| Q3 24 | — | $-143.5M | ||
| Q2 24 | — | $81.7M | ||
| Q1 24 | — | $-35.8M |
| Q4 25 | $6.2M | $61.9M | ||
| Q3 25 | $-53.6M | $-71.3M | ||
| Q2 25 | — | $49.5M | ||
| Q1 25 | — | $-44.7M | ||
| Q4 24 | — | $44.4M | ||
| Q3 24 | — | $-147.5M | ||
| Q2 24 | — | $79.1M | ||
| Q1 24 | — | $-39.0M |
| Q4 25 | 0.8% | 10.4% | ||
| Q3 25 | -7.2% | -26.0% | ||
| Q2 25 | — | 21.3% | ||
| Q1 25 | — | -10.7% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | — | -58.8% | ||
| Q2 24 | — | 41.1% | ||
| Q1 24 | — | -9.4% |
| Q4 25 | 0.9% | 0.7% | ||
| Q3 25 | 1.2% | 1.4% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | 0.39× | 2.65× | ||
| Q3 25 | -1.31× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -2.34× | ||
| Q4 24 | — | 1.10× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AIR
| Commercial Customer | $268.1M | 34% |
| Repair And Engineering | $244.5M | 31% |
| Integrated Solutions | $175.8M | 22% |
| Government And Defense Customer | $85.5M | 11% |
| Expeditionary Services | $21.4M | 3% |
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
