AeroVironment Inc (AVAV)
Pretax margin
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Jan 27, 2024 | Oct 31, 2023 | Oct 28, 2023 | Jul 31, 2023 | Jul 29, 2023 | Apr 30, 2023 | Jan 31, 2023 | Jan 28, 2023 | Oct 31, 2022 | Oct 29, 2022 | Jul 31, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 39,664 | 30,966 | 48,549 | 57,361 | 55,145 | 69,715 | 77,721 | 85,786 | -101,075 | -120,842 | -145,279 | -184,301 | -34,896 | -39,389 | -43,965 | -9,871 | -8,387 | -18,535 | -20,840 | -46,076 |
| Revenue (ttm) | US$ in thousands | 787,811 | 742,556 | 761,498 | 759,618 | 750,951 | 734,788 | 700,557 | 665,864 | 671,089 | 624,668 | 606,716 | 566,415 | 491,958 | 466,079 | 439,548 | 460,586 | 439,095 | 430,215 | 444,359 | 444,087 |
| Pretax margin | 5.03% | 4.17% | 6.38% | 7.55% | 7.34% | 9.49% | 11.09% | 12.88% | -15.06% | -19.34% | -23.95% | -32.54% | -7.09% | -8.45% | -10.00% | -2.14% | -1.91% | -4.31% | -4.69% | -10.38% |
April 30, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $39,664K ÷ $787,811K
= 5.03%
The pretax margin of AeroVironment Inc has demonstrated significant fluctuations over the period analyzed. Starting with a negative pretax margin of approximately -10.38% as of January 31, 2022, the company's profitability was initially under pressure, with margins improving slightly to -4.69% by April 30, 2022, and then marginally better to -4.31% by July 30, 2022. However, the pretax margin continued to hover near -2% to -10% during the latter part of 2022, with a slight improvement to -1.91% on July 31, 2022, and a slight deterioration to -10.00% as of October 31, 2022.
In early 2023, the company maintained negative margins, though with some narrowing from -8.45% in January to -7.09% in January 2023. A notable shift occurred in the subsequent period, with the pretax margin turning positive for the first time since early 2022, reaching 12.88% as of October 31, 2023. This marked a significant turnaround in profitability, breaking the prior trend of losses.
The positive margin trend persisted into early 2024, with margins recorded at 11.09% in January and remaining above 9% in subsequent quarters. The company’s pretax margins remained positive through April, July, and October 2024, with values around 7% to 7.55%. The upward trajectory continued into early 2025, with margins recorded at 4.17% in January and 5.03% in April.
Overall, the pretax margin for AeroVironment Inc exhibits a pattern of substantial volatility, transitioning from consistent losses in 2022 and early 2023 to sustained profitability in late 2023 through 2024, indicating a significant improvement in operational efficiency and profitability metrics in recent periods. This shift suggests strategic or operational changes may have positively impacted the company's ability to generate pre-tax income in the latter part of the analyzed timeframe.
Peer comparison
Apr 30, 2025