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Side-by-side financial comparison of AAR CORP (AIR) and SM Energy Co (SM). Click either name above to swap in a different company.
AAR CORP is the larger business by last-quarter revenue ($795.3M vs $704.9M, roughly 1.1× SM Energy Co). On growth, AAR CORP posted the faster year-over-year revenue change (15.9% vs -17.3%).
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.
SM Energy Company is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado.
AIR vs SM — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $795.3M | $704.9M |
| Net Profit | $34.6M | — |
| Gross Margin | 19.7% | — |
| Operating Margin | 6.0% | 25.9% |
| Net Margin | 4.4% | — |
| Revenue YoY | 15.9% | -17.3% |
| Net Profit YoY | 213.1% | — |
| EPS (diluted) | $0.90 | $0.94 |
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 | $704.9M | ||
| Q3 25 | $739.6M | $811.6M | ||
| Q2 25 | — | $792.9M | ||
| Q1 25 | — | $844.5M | ||
| Q4 24 | — | $852.0M | ||
| Q3 24 | — | $643.6M | ||
| Q2 24 | — | $634.6M | ||
| Q1 24 | — | $559.9M |
| Q4 25 | $34.6M | — | ||
| Q3 25 | $34.4M | $155.1M | ||
| Q2 25 | — | $201.7M | ||
| Q1 25 | — | $182.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $240.5M | ||
| Q2 24 | — | $210.3M | ||
| Q1 24 | — | $131.2M |
| Q4 25 | 19.7% | — | ||
| Q3 25 | 18.1% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 6.0% | 25.9% | ||
| Q3 25 | 6.4% | 30.4% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 32.7% | ||
| Q4 24 | — | 33.7% | ||
| Q3 24 | — | 51.4% | ||
| Q2 24 | — | 44.0% | ||
| Q1 24 | — | 31.9% |
| Q4 25 | 4.4% | — | ||
| Q3 25 | 4.7% | 19.1% | ||
| Q2 25 | — | 25.4% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 37.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 23.4% |
| Q4 25 | $0.90 | $0.94 | ||
| Q3 25 | $0.95 | $1.35 | ||
| Q2 25 | — | $1.76 | ||
| Q1 25 | — | $1.59 | ||
| Q4 24 | — | $1.63 | ||
| Q3 24 | — | $2.09 | ||
| Q2 24 | — | $1.82 | ||
| Q1 24 | — | $1.13 |
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 | $368.0M |
| Total DebtLower is stronger | $952.7M | — |
| Stockholders' EquityBook value | $1.6B | $4.8B |
| Total Assets | $3.2B | $9.3B |
| Debt / EquityLower = less leverage | 0.61× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $368.0M | ||
| Q3 25 | $80.0M | $162.3M | ||
| Q2 25 | — | $101.9M | ||
| Q1 25 | — | $54.0K | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $487.9M | ||
| Q1 24 | — | $506.3M |
| Q4 25 | $952.7M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.6B | $4.8B | ||
| Q3 25 | $1.2B | $4.7B | ||
| Q2 25 | — | $4.6B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | — | $3.7B |
| Q4 25 | $3.2B | $9.3B | ||
| Q3 25 | $2.9B | $9.1B | ||
| Q2 25 | — | $9.0B | ||
| Q1 25 | — | $8.8B | ||
| Q4 24 | — | $8.6B | ||
| Q3 24 | — | $8.0B | ||
| Q2 24 | — | $6.7B | ||
| Q1 24 | — | $6.4B |
| Q4 25 | 0.61× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $451.9M |
| Free Cash FlowOCF − Capex | $6.2M | — |
| FCF MarginFCF / Revenue | 0.8% | — |
| Capex IntensityCapex / Revenue | 0.9% | — |
| Cash ConversionOCF / Net Profit | 0.39× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.6M | $451.9M | ||
| Q3 25 | $-44.9M | $505.0M | ||
| Q2 25 | — | $571.1M | ||
| Q1 25 | — | $483.0M | ||
| Q4 24 | — | $578.4M | ||
| Q3 24 | — | $452.3M | ||
| Q2 24 | — | $476.4M | ||
| Q1 24 | — | $276.0M |
| Q4 25 | $6.2M | — | ||
| Q3 25 | $-53.6M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.8% | — | ||
| Q3 25 | -7.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.39× | — | ||
| Q3 25 | -1.31× | 3.26× | ||
| Q2 25 | — | 2.83× | ||
| Q1 25 | — | 2.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 2.27× | ||
| Q1 24 | — | 2.10× |
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% |
SM
Segment breakdown not available.
