Air T, Inc. AIRT

Competitive advantage analysis · industrials

Corporate Default
Overall moat score
37/100
Developing

Ranked against 26 peers in Conglomerates

About Air T, Inc.

Air T, Inc. provides overnight air cargo, ground equipment sale, and commercial jet engines and parts in the United States and internationally. The company's Overnight Air Cargo segment offers air express delivery services. As of March 31, 2025, this segment had 103 aircraft under the dry-lease agreements with FedEx. Its Ground Support Equipment segment manufactures, sells, and services aircraft deicers, … Full AIRT analysis →

Key strengths

  • Strong Interest Coverage & Conservative Leverage Debt serviceability is strong (score 0.72), with robust interest coverage.

Key risks

  • ROIC Below WACC or Peers ROIC at 24.0th percentile suggests inefficient capital deployment.
  • Scale Without Profitability Despite scale, profitability lags peers (score 0.28), suggesting limited competitive advantage.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
36
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where AIRT ranks in Conglomerates

Air T, Inc. ranks #20 of 27 scored companies in Conglomerates by moat score — the top 74%. The widest moat in the group is Steel Partners Holdings LP LTD (SPLP) at 79/100.

# Company Moat score Rating
16 Boston Omaha Corporation BOC 46/100 Developing
17 D/B/A Compass Diversified Holdi CODI 43/100 Developing
18 DMC Global Inc. BOOM 41/100 Developing
19 Tejon Ranch Co TRC 38/100 Developing
20 Air T, Inc. AIRT 37/100 Developing
21 Air T, Inc. - Trust Preferred S AIRTP 37/100 Developing
22 NN, Inc. NNBR 37/100 Developing
23 Falcon's Beyond Global, Inc. FBYD 24/100 Weak
24 Falcon's Beyond Global, Inc. Wa FBYDW 23/100 Weak

See every General Corporate company ranked by moat score →

How AIRT scores on the Corporate Default defenses

Pricing Power

Score 36 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 39 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 40 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 22 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 57 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 32 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding AIRT's moat

What is Air T, Inc.'s moat score?

Air T, Inc. (AIRT) scores 37 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #20 of 27 scored companies in Conglomerates, the top 74%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 26 companies in Conglomerates. Its strongest defense is Resilience (57/100) and its weakest is Capital Efficiency (22/100).

How does Air T, Inc. compare with other Conglomerates companies?

Air T, Inc. ranks #20 of 27 scored companies in Conglomerates by moat score. The widest moat in Conglomerates is Steel Partners Holdings LP LTD (SPLP) at 79/100. The companies ranked closest are Tejon Ranch Co (TRC) at 38 just above it and Air T, Inc. - Trust Preferred S (AIRTP) at 37 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 26 companies in Conglomerates. The defenses are then weighted to produce the overall score out of 100.

Why is Air T, Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Air T, Inc.?

The Corporate Default template measures 6 defenses, and AIRT scores: Pricing Power (36), Cost Advantage (39), Customer Stickiness (40), Capital Efficiency (22), Resilience (57), Scale & Market Position (32). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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