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Side-by-side financial comparison of AAR CORP (AIR) and Snowflake Inc. (SNOW). Click either name above to swap in a different company.
Snowflake Inc. is the larger business by last-quarter revenue ($1.2B vs $795.3M, roughly 1.5× AAR CORP). AAR CORP runs the higher net margin — 4.4% vs -24.2%, a 28.6% gap on every dollar of revenue. On growth, Snowflake Inc. posted the faster year-over-year revenue change (28.7% vs 15.9%). Snowflake Inc. produced more free cash flow last quarter ($113.6M 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.
Snowflake Inc. is an American cloud-based data platform company founded in San Mateo, California, and headquartered in Bozeman, Montana. It operates a platform that supports data analysis and simultaneous access to data sets with minimal latency. It operates on Amazon Web Services, Microsoft Azure, and Google Cloud Platform.
AIR vs SNOW — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $795.3M | $1.2B |
| Net Profit | $34.6M | $-294.0M |
| Gross Margin | 19.7% | 67.8% |
| Operating Margin | 6.0% | -27.2% |
| Net Margin | 4.4% | -24.2% |
| Revenue YoY | 15.9% | 28.7% |
| Net Profit YoY | 213.1% | 9.4% |
| EPS (diluted) | $0.90 | $-0.87 |
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 | $1.2B | ||
| Q3 25 | $739.6M | $1.1B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $986.8M | ||
| Q4 24 | — | $942.1M | ||
| Q3 24 | — | $868.8M | ||
| Q2 24 | — | $828.7M | ||
| Q1 24 | — | $774.7M |
| Q4 25 | $34.6M | $-294.0M | ||
| Q3 25 | $34.4M | $-298.0M | ||
| Q2 25 | — | $-430.1M | ||
| Q1 25 | — | $-327.5M | ||
| Q4 24 | — | $-324.3M | ||
| Q3 24 | — | $-316.9M | ||
| Q2 24 | — | $-317.0M | ||
| Q1 24 | — | $-169.4M |
| Q4 25 | 19.7% | 67.8% | ||
| Q3 25 | 18.1% | 67.5% | ||
| Q2 25 | — | 66.5% | ||
| Q1 25 | — | 66.2% | ||
| Q4 24 | — | 65.9% | ||
| Q3 24 | — | 66.8% | ||
| Q2 24 | — | 67.1% | ||
| Q1 24 | — | 68.8% |
| Q4 25 | 6.0% | -27.2% | ||
| Q3 25 | 6.4% | -29.7% | ||
| Q2 25 | — | -42.9% | ||
| Q1 25 | — | -39.2% | ||
| Q4 24 | — | -38.8% | ||
| Q3 24 | — | -40.9% | ||
| Q2 24 | — | -42.1% | ||
| Q1 24 | — | -35.6% |
| Q4 25 | 4.4% | -24.2% | ||
| Q3 25 | 4.7% | -26.0% | ||
| Q2 25 | — | -41.3% | ||
| Q1 25 | — | -33.2% | ||
| Q4 24 | — | -34.4% | ||
| Q3 24 | — | -36.5% | ||
| Q2 24 | — | -38.3% | ||
| Q1 24 | — | -21.9% |
| Q4 25 | $0.90 | $-0.87 | ||
| Q3 25 | $0.95 | $-0.89 | ||
| Q2 25 | — | $-1.29 | ||
| Q1 25 | — | $-0.98 | ||
| Q4 24 | — | $-0.98 | ||
| Q3 24 | — | $-0.95 | ||
| Q2 24 | — | $-0.95 | ||
| Q1 24 | — | $-0.51 |
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 | $1.9B |
| Total DebtLower is stronger | $952.7M | — |
| Stockholders' EquityBook value | $1.6B | $2.1B |
| Total Assets | $3.2B | $8.2B |
| Debt / EquityLower = less leverage | 0.61× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $1.9B | ||
| Q3 25 | $80.0M | $1.9B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | $952.7M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.6B | $2.1B | ||
| Q3 25 | $1.2B | $2.4B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.6B | ||
| Q1 24 | — | $5.2B |
| Q4 25 | $3.2B | $8.2B | ||
| Q3 25 | $2.9B | $8.2B | ||
| Q2 25 | — | $8.2B | ||
| Q1 25 | — | $9.0B | ||
| Q4 24 | — | $8.2B | ||
| Q3 24 | — | $6.9B | ||
| Q2 24 | — | $7.3B | ||
| Q1 24 | — | $8.2B |
| 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 | $137.5M |
| Free Cash FlowOCF − Capex | $6.2M | $113.6M |
| FCF MarginFCF / Revenue | 0.8% | 9.4% |
| Capex IntensityCapex / Revenue | 0.9% | 2.0% |
| Cash ConversionOCF / Net Profit | 0.39× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $776.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.6M | $137.5M | ||
| Q3 25 | $-44.9M | $74.9M | ||
| Q2 25 | — | $228.4M | ||
| Q1 25 | — | $432.7M | ||
| Q4 24 | — | $101.7M | ||
| Q3 24 | — | $69.9M | ||
| Q2 24 | — | $355.5M | ||
| Q1 24 | — | $344.6M |
| Q4 25 | $6.2M | $113.6M | ||
| Q3 25 | $-53.6M | $58.2M | ||
| Q2 25 | — | $183.4M | ||
| Q1 25 | — | $421.4M | ||
| Q4 24 | — | $88.3M | ||
| Q3 24 | — | $64.8M | ||
| Q2 24 | — | $338.9M | ||
| Q1 24 | — | $331.5M |
| Q4 25 | 0.8% | 9.4% | ||
| Q3 25 | -7.2% | 5.1% | ||
| Q2 25 | — | 17.6% | ||
| Q1 25 | — | 42.7% | ||
| Q4 24 | — | 9.4% | ||
| Q3 24 | — | 7.5% | ||
| Q2 24 | — | 40.9% | ||
| Q1 24 | — | 42.8% |
| Q4 25 | 0.9% | 2.0% | ||
| Q3 25 | 1.2% | 1.5% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 1.7% |
| Q4 25 | 0.39× | — | ||
| Q3 25 | -1.31× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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% |
SNOW
| Products | $1.2B | 96% |
| Professional Services And Other | $54.5M | 4% |
| Related Party | $6.7M | 1% |
