Financials Airman Corporation

Stocks

Delayed Japan Exchange 22:29:34 2026-08-16 EDT			5-day change	1st Jan Change
2,552.00 ^JPY	-0.55%		+2.00%	+39.91%

08-10	Tranche Update on Airman Corporation's Equity Buyback Plan announced on July 30, 2026.	CI
07-30	Airman Corporation authorizes a Buyback Plan.	CI

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Net sales ¹	36,650	49,000	51,900	54,827	55,604	58,300	60,200	62,500
Change	-	33.7%	5.92%	5.64%	1.42%	4.85%	3.26%	3.82%
EBITDA	-	-	7,323	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	3,570	4,842	6,187	6,918	7,185	6,200	6,700	7,200
Change	-	35.63%	27.78%	11.82%	3.86%	-13.71%	8.06%	7.46%
Interest Paid	-23	-9	-15	-129	-110	-	-	-
Earnings before Tax (EBT) ¹	4,046	5,377	7,275	6,886	7,985	6,300	6,800	7,300
Change	-	32.9%	35.3%	-5.35%	15.96%	-21.11%	7.94%	7.35%
Net income ¹	2,748	3,752	5,098	4,812	5,597	4,300	4,700	5,100
Change	-	36.54%	35.87%	-5.61%	16.31%	-23.17%	9.3%	8.51%
Announcement Date	5/10/22	5/10/23	5/9/24	5/9/25	5/11/26	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 Q1	2022 Q3	2023 Q1	2023 Q3	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	7,669	9,815	10,506	13,698	11,804	14,000	13,532	12,564	13,249	14,249	13,237	14,091	13,254	14,612	14,920	12,818	13,743	15,600	15,000	13,700
Change	-	27.98%	7.04%	30.38%	-13.83%	18.6%	-3.34%	-7.15%	5.45%	7.55%	-7.11%	6.46%	-5.94%	10.24%	2.11%	-14.09%	7.22%	13.51%	-3.85%	-8.67%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	625	886	806	2,031	1,585	2,010	1,849	742.3	1,760	2,153	696.8	2,308	1,615	1,837	2,225	1,507	2,437	1,800	1,700	1,200
Change	-	41.76%	-9.03%	151.99%	-21.96%	26.84%	-8.01%	-59.86%	137.1%	22.34%	-67.64%	231.18%	-30.02%	13.75%	21.12%	-32.27%	61.71%	-26.14%	-5.56%	-29.41%
Charge d'intérêts	-2	-1	-1	-3	-2	-	-4	-	-4	-	-91	-	-26	-	-28	-	-31	-	-	-
Earnings before Tax (EBT)	656	1,001	1,380	1,062	2,162	2,049	1,269	-	2,235	-	2,141	-	1,533	-	2,574	-	2,588	-	-	-
Change	-	52.59%	37.86%	-23.04%	103.58%	-5.23%	-38.07%	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	453	666	946	729	1,504	1,423	875	-	1,557	-	1,465	-	1,090	-	1,783	-	1,781	-	-	-
Change	-	47.02%	42.04%	-22.94%	106.31%	-5.39%	-38.51%	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	7/30/21	1/31/22	7/29/22	1/31/23	7/28/23	11/6/23	1/31/24	5/9/24	7/30/24	11/6/24	1/31/25	5/9/25	7/30/25	11/6/25	1/30/26	5/11/26	7/30/26	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2023 S1	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1	2026 S2	2027 S1	2027 S2
Net sales ¹	22,437	25,804	26,096	27,499	27,328	27,866	27,738	29,600	28,700
Change	-	15%	1.13%	5.38%	-0.62%	1.97%	-0.46%	6.71%	-3.04%
EBITDA	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
EBIT ¹	2,461	3,595	2,592	3,914	3,004	3,452	3,733	3,300	2,900
Change	-	46.1%	-27.92%	51.01%	-23.23%	14.9%	8.13%	-11.59%	-12.12%
Charge d'intérêts	-3	-5	-	-16	-	-53	-	-	-
Earnings before Tax (EBT)	3,138	4,211	-	3,447	-	3,650	-	-	-
Change	-	34.19%	-	-	-	-	-	-	-
Net income	2,149	2,927	-	2,394	-	2,562	-	-	-
Change	-	36.2%	-	-	-	-	-	-	-
Announcement Date	11/7/22	11/6/23	5/9/24	11/6/24	5/9/25	11/6/25	5/11/26	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Net Debt	-10,843	-11,569	-10,368	-11,331	-4,577	-	-	-
Change	-	-6.7%	10.38%	-9.29%	59.61%	-	-	-
Announcement Date	5/10/22	5/10/23	5/9/24	5/9/25	5/11/26	-	-	-

Estimates

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
CAPEX ¹	911	976	2,073	852.4	1,255	3,800	3,600	3,600
Change	-	7.14%	112.41%	-58.89%	47.24%	202.79%	-5.26%	0%
Free Cash Flow (FCF) ¹	1,365	1,893	-	-	-3,632	-	-	-
Change	-	38.68%	-	-	-	100%	-	-
Announcement Date	5/10/22	5/10/23	5/9/24	5/9/25	5/11/26	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028	2029
Profitability
EBITDA Margin (%)	-	-	-	14.11%	-	-	-	-	-
EBIT Margin (%)	-	9.74%	9.88%	11.92%	12.62%	12.92%	10.63%	11.13%	11.52%
EBT Margin (%)	-	11.04%	10.97%	14.02%	12.56%	14.36%	10.81%	11.3%	11.68%
Net margin (%)	-	7.5%	7.66%	9.82%	8.78%	10.07%	7.38%	7.81%	8.16%
FCF margin (%)	-	3.72%	3.86%	-	-	-6.53%	-	-	-
FCF / Net Income (%)	-	49.67%	50.45%	-	-	-64.9%	-	-	-
Profitability
ROA	3.54%	5%	6.11%	7.06%	7.17%	6.91%	-	-	-
ROE	6.63%	9.02%	11.51%	14.25%	12.27%	13.01%	-	-	-
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	2.49%	1.99%	3.99%	1.55%	2.26%	6.52%	5.98%	5.76%
CAPEX / EBITDA (%)	-	-	-	28.31%	-	-	-	-	-
CAPEX / FCF (%)	-	66.74%	51.56%	-	-	-34.55%	-	-	-
Items per share
Cash flow per share ¹	-	131.3	165.8	222.7	213.8	247	-	-	-
Change	-	-	26.24%	34.31%	-3.97%	15.52%	-	-	-
Dividend per Share ¹	-	30	45	57	57	72	72	80	90
Change	-	-	50%	26.67%	0%	26.32%	0%	11.11%	12.5%
Book Value Per Share ¹	-	1,098	1,207	1,347	1,486	1,671	1,702	1,748	1,802
Change	-	-	9.91%	11.65%	10.3%	12.42%	1.88%	2.7%	3.09%
EPS ¹	-	95.76	132.5	182.2	173.8	205	159.6	174.5	189.3
Change	-	-	38.34%	37.51%	-4.59%	17.95%	-22.14%	9.34%	8.48%
Nbr of stocks (in thousands)	-	28,443	28,207	27,842	27,529	26,934	26,945	26,945	26,945
Announcement Date	-	5/10/22	5/10/23	5/9/24	5/9/25	5/11/26	-	-	-