BUKSOTCServices-Miscellaneous Amusement & RecreationFiscal year ends April 30
BUTLER NATIONAL CORP
Financials through Q1 FY2027, quarter ended Jul 31, 2026Last filing: 10-Q on Sep 11, 2026
$5.18+0.32 (+6.58%)
Close on Oct 19, 2026
- Market cap
- $331.28M
- P/E (TTM)
- 14.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
–
Operating margin
29.0%+19.4 pts over 5 years
Net margin
22.4%+20.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +16.7% | +9.2% | +9.8% | +8.1% | |
| Operating income | +69.1% | +48.7% | +37.0% | +46.6% | |
| Net income | +74.8% | +69.3% | +72.6% | +97.7% | |
| EPS, diluted | +78.9% | +78.3% | +76.2% | – | |
| Free cash flow | +89.7% | +10.1% | +24.4% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 6.8% | 4.2% | 29.8% | |
| Return on assets | 3.6% | 1.5% | 16.5% | |
| Current ratio | 1.65 | 1.96 | 2.14 | |
| Debt to equity | 0.24 | 1.29 | 0.36 | |
| Net debt to EBITDA | -0.14× | 2.52× | -0.16× | |
| Interest coverage | 8.7× | 1.9× | 14.7× | |
| Capex to revenue | 6.3% | 11.4% | 6.7% | |
| Diluted shares | 63M | 74M | 65M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Butler National generated $83.84M from operations and spent $52.66M on capital expenditure, dividends and share buybacks. 75% of that went back into the business.
Generated
$83.84M
Used
$52.66M
Capital expenditure$39.63M75%Dividends$00%Share buybacks$13.03M25%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin22.4%
×Asset turnover0.74×
×Equity multiplier1.80×
=Return on equity, FY202629.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 22.4% | 0.74× | 1.80× | 29.8% |
| FY2025 | 14.9% | 0.71× | 1.98× | 21.0% |
| FY2024 | 16.0% | 0.69× | 2.25× | 24.7% |
| FY2023 | 6.0% | 0.70× | 2.45× | 10.3% |
| FY2022 | 14.5% | 0.71× | 2.66× | 27.2% |
| FY2021 | 2.3% | 0.63× | 2.89× | 4.2% |
| FY2020 | 6.4% | 0.92× | 2.36× | 13.9% |
| FY2019 | 6.6% | 1.30× | 1.74× | 14.8% |
| FY2018 | 0.7% | 1.15× | 1.77× | 1.4% |
| FY2017 | 3.0% | 1.18× | 1.88× | 6.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
8of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero$21.93M
- Cash generatingOperating cash flow above zero$25.78M
- Return on assets improvedROA up on the prior year11.0% → 17.8%
- Earnings backed by cashOperating cash flow above net income$25.78M vs $21.93M
- Less leverageLong-term debt to assets fell24.2% → 17.3%
- Better liquidityCurrent ratio rose1.94 → 2.14
- No dilutionShare count did not rise68M → 65M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.74 → 0.79