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AeroVironment

Nasdaq:AVAV
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AVAV
Nasdaq
$1B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

AeroVironment, Inc. designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The last earnings update was 28 days ago. More info.


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AVAV Share Price and Events
7 Day Returns
17.6%
NasdaqGS:AVAV
11.5%
US Aerospace & Defense
5.3%
US Market
1 Year Returns
-10.4%
NasdaqGS:AVAV
-10%
US Aerospace & Defense
-10.7%
US Market
AVAV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AeroVironment (AVAV) 17.6% 12.7% -2.8% -10.4% 124.5% 128.6%
US Aerospace & Defense 11.5% -17.4% -23.9% -10% 4.5% 27.3%
US Market 5.3% -13.6% -19.8% -10.7% 8% 20.4%
1 Year Return vs Industry and Market
  • AVAV matched the Aerospace & Defense industry (-10%) over the past year.
  • AVAV matched the United States of America Market (-10.7%) over the past year.
Price Volatility
AVAV
Industry
5yr Volatility vs Market

Value

 Is AeroVironment undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AeroVironment to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for AeroVironment.

NasdaqGS:AVAV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:AVAV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.852 (1 + (1- 21%) (0.67%))
0.904
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.904 * 5.44%)
6.66%

Discounted Cash Flow Calculation for NasdaqGS:AVAV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for AeroVironment is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGS:AVAV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.66%)
2020 37.00 Analyst x2 34.69
2021 47.90 Analyst x1 42.11
2022 59.70 Analyst x1 49.21
2023 68.45 Est @ 14.66% 52.90
2024 75.83 Est @ 10.78% 54.94
2025 81.95 Est @ 8.07% 55.67
2026 87.00 Est @ 6.17% 55.42
2027 91.21 Est @ 4.84% 54.47
2028 94.78 Est @ 3.91% 53.07
2029 97.87 Est @ 3.26% 51.38
Present value of next 10 years cash flows $503.00
NasdaqGS:AVAV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $97.87 × (1 + 1.74%) ÷ (6.66% – 1.74%)
$2,025.55
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,025.55 ÷ (1 + 6.66%)10
$1,063.39
NasdaqGS:AVAV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $503.00 + $1,063.39
$1,566.39
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,566.39 / 23.77
$65.9
NasdaqGS:AVAV Discount to Share Price
Calculation Result
Value per share (USD) From above. $65.90
Current discount Discount to share price of $61.23
= -1 x ($61.23 - $65.90) / $65.90
7.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price AeroVironment is available for.
Intrinsic value
7%
Share price is $61.23 vs Future cash flow value of $65.9
Current Discount Checks
For AeroVironment to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • AeroVironment's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • AeroVironment's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AeroVironment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AeroVironment's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:AVAV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2020-01-25) in USD $1.25
NasdaqGS:AVAV Share Price ** NasdaqGS (2020-03-31) in USD $61.23
United States of America Aerospace & Defense Industry PE Ratio Median Figure of 37 Publicly-Listed Aerospace & Defense Companies 15.2x
United States of America Market PE Ratio Median Figure of 2,939 Publicly-Listed Companies 13.13x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AeroVironment.

NasdaqGS:AVAV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:AVAV Share Price ÷ EPS (both in USD)

= 61.23 ÷ 1.25

49.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AeroVironment is overvalued based on earnings compared to the US Aerospace & Defense industry average.
  • AeroVironment is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does AeroVironment's expected growth come at a high price?
Raw Data
NasdaqGS:AVAV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 49.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
21.9%per year
United States of America Aerospace & Defense Industry PEG Ratio Median Figure of 30 Publicly-Listed Aerospace & Defense Companies 1.73x
United States of America Market PEG Ratio Median Figure of 2,006 Publicly-Listed Companies 0.99x

*Line of best fit is calculated by linear regression .

NasdaqGS:AVAV PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 49.01x ÷ 21.9%

2.24x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AeroVironment is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on AeroVironment's assets?
Raw Data
NasdaqGS:AVAV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2020-01-25) in USD $20.65
NasdaqGS:AVAV Share Price * NasdaqGS (2020-03-31) in USD $61.23
United States of America Aerospace & Defense Industry PB Ratio Median Figure of 51 Publicly-Listed Aerospace & Defense Companies 1.82x
United States of America Market PB Ratio Median Figure of 5,138 Publicly-Listed Companies 1.28x
NasdaqGS:AVAV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:AVAV Share Price ÷ Book Value per Share (both in USD)

= 61.23 ÷ 20.65

2.97x

* Primary Listing of AeroVironment.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AeroVironment is overvalued based on assets compared to the US Aerospace & Defense industry average.
X
Value checks
We assess AeroVironment's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. AeroVironment has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is AeroVironment expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
21.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AeroVironment expected to grow at an attractive rate?
  • AeroVironment's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • AeroVironment's earnings growth is expected to exceed the United States of America market average.
  • AeroVironment's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:AVAV Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:AVAV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 21.9%
NasdaqGS:AVAV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 14%
United States of America Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 11.1%
United States of America Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:AVAV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:AVAV Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-04-30 562 1
2023-04-30 578 2
2022-04-30 462 57 4
2021-04-30 400 44 6
2020-04-30 355 60 40 6
2020-04-01
NasdaqGS:AVAV Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2020-01-25 320 35 30
2019-10-26 333 32 39
2019-07-27 323 24 39
2019-04-30 314 19 42
2019-01-26 340 41 55
2018-10-27 319 41 46
2018-07-28 312 46 46
2018-04-30 268 69 22
2018-01-27 244 32 37
2017-10-28 243 20 36
2017-07-29 227 12 24
2017-04-30 233 -10 18
2017-01-28 224 -8 -13

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AeroVironment's earnings are expected to grow significantly at over 20% yearly.
  • AeroVironment's revenue is expected to grow by 14% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:AVAV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from AeroVironment Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:AVAV Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-04-30
2023-04-30
2022-04-30 2.20 2.20 2.20 1.00
2021-04-30 1.85 2.00 1.76 3.00
2020-04-30 1.68 1.71 1.65 3.00
2020-04-01
NasdaqGS:AVAV Past Financials Data
Date (Data in USD Millions) EPS *
2020-01-25 1.25
2019-10-26 1.65
2019-07-27 1.63
2019-04-30 1.77
2019-01-26 2.32
2018-10-27 1.94
2018-07-28 1.97
2018-04-30 0.93
2018-01-27 1.60
2017-10-28 1.54
2017-07-29 1.03
2017-04-30 0.77
2017-01-28 -0.55

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if AeroVironment will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess AeroVironment's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AeroVironment has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has AeroVironment performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AeroVironment's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AeroVironment has delivered over 20% year on year earnings growth in the past 5 years.
  • AeroVironment's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • AeroVironment's 1-year earnings growth is negative, it can't be compared to the US Aerospace & Defense industry average.
Earnings and Revenue History
AeroVironment's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AeroVironment Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:AVAV Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2020-01-25 320.00 29.70 59.03 42.55
2019-10-26 333.43 39.14 59.91 39.26
2019-07-27 323.14 38.69 57.66 36.51
2019-04-30 314.27 41.91 55.95 34.23
2019-01-26 339.97 54.83 55.35 30.07
2018-10-27 319.28 45.75 51.35 28.59
2018-07-28 312.11 46.46 50.47 27.33
2018-04-30 268.42 21.75 49.81 26.43
2018-01-27 244.24 37.37 41.54 22.35
2017-10-28 242.77 35.83 43.87 23.73
2017-07-29 227.08 23.90 44.49 25.41
2017-04-30 233.11 17.70 46.86 28.47
2017-01-28 224.25 -12.63 56.04 39.42
2016-10-29 238.65 -4.29 56.57 39.68
2016-07-30 253.27 4.31 57.91 41.06
2016-04-30 233.74 15.39 50.06 35.04
2016-01-30 265.81 10.68 58.49 50.23
2015-10-31 266.65 6.84 58.44 50.56
2015-08-01 254.58 -0.48 57.18 49.20
2015-04-30 259.40 2.90 55.33 46.49
2015-01-31 246.43 3.87 53.72 30.46
2014-11-01 247.25 12.76 53.62 27.12
2014-08-02 259.45 17.32 53.23 25.45
2014-04-30 251.70 13.72 52.29 25.52
2014-01-25 232.32 4.87 52.90 28.68
2013-10-26 210.18 -2.48 50.17 33.74
2013-07-27 225.59 4.60 50.26 36.27
2013-04-30 240.15 10.43 51.52 37.21

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • AeroVironment has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • AeroVironment used its assets less efficiently than the US Aerospace & Defense industry average last year based on Return on Assets.
  • AeroVironment has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess AeroVironment's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AeroVironment has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is AeroVironment's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up AeroVironment's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AeroVironment is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • AeroVironment's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of AeroVironment's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • AeroVironment has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AeroVironment Company Filings, last reported 2 months ago.

NasdaqGS:AVAV Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2020-01-25 490.72 0.00 280.00
2019-10-26 490.36 0.00 292.38
2019-07-27 481.50 0.00 300.73
2019-04-30 462.58 0.00 323.20
2019-01-26 455.55 0.00 294.18
2018-10-27 444.18 0.00 289.79
2018-07-28 437.06 0.00 289.09
2018-04-30 409.06 0.00 257.17
2018-01-27 390.39 0.00 221.85
2017-10-28 389.41 0.00 227.86
2017-07-29 380.94 0.00 225.30
2017-04-30 382.19 0.00 199.88
2017-01-28 347.25 0.00 194.37
2016-10-29 348.15 0.00 207.08
2016-07-30 351.48 0.00 224.12
2016-04-30 361.53 0.00 227.69
2016-01-30 354.57 0.00 220.40
2015-10-31 346.73 0.00 206.00
2015-08-01 345.11 0.00 217.47
2015-04-30 348.91 0.00 228.79
2015-01-31 340.83 0.00 203.56
2014-11-01 338.14 0.00 207.46
2014-08-02 340.76 0.00 224.89
2014-04-30 342.47 0.00 197.61
2014-01-25 324.66 0.00 167.58
2013-10-26 311.68 0.00 143.80
2013-07-27 308.80 0.00 128.81
2013-04-30 315.19 0.00 148.57
  • AeroVironment has no debt.
  • AeroVironment has not taken on any debt in the past 5 years.
  • AeroVironment has no debt, it does not need to be covered by operating cash flow.
  • AeroVironment has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess AeroVironment's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AeroVironment has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is AeroVironment's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from AeroVironment dividends.
If you bought $2,000 of AeroVironment shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate AeroVironment's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate AeroVironment's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:AVAV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1946 Stocks 2.9%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.9%
United States of America Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:AVAV Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-04-30
2023-04-30
2022-04-30
2021-04-30
2020-04-30
2020-04-01

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as AeroVironment has not reported any payouts.
  • Unable to verify if AeroVironment's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of AeroVironment's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as AeroVironment has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess AeroVironment's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AeroVironment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AeroVironment has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of AeroVironment's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Wahid Nawabi
COMPENSATION $2,052,107
AGE 50
TENURE AS CEO 3.9 years
CEO Bio

Mr. Wahid Nawabi has been the Chief Executive Officer and President of AeroVironment, Inc. since May 2, 2016 and January 16, 2016 respectively. Mr. Nawabi has served as the President of AeroVironment, Inc. and served as its Chief Operating Officer since April 30, 2015 until May 1, 2016. Mr. Nawabi served as the General Manager of Efficient Energy Systems Business Segment at AeroVironment, Inc. from December 13, 2011 to April 30, 2015 and served as its Senior Vice President from December 13, 2011 to January 16, 2016. Prior to this, Mr. Nawabi served as Vice President, Global Sales of Altergy Systems, a designer and manufacturer of fuel cell power systems, from March 2010 through November 2011, and as Vice President, Americas, and Vice President, Global Sales for C&D Technologies, a producer and marketer of electrical power storage and conversion products, from February 2009 through March 2010. Prior to AeroVironment, he had a 20-year career as an Executive with advanced technology companies in industries spanning clean technology, industrial/electrical equipment manufacturing, telecom and energy. Prior to joining C&D Technologies, Mr. Nawabi worked for 16 years with American Power Conversion Corporation, a provider of power protection products and services, in a succession of positions of increasing responsibility, most recently as Vice President, Enterprise Segment, North America and Canada. During his 16-year tenure at American Power Conversion, Mr. Nawabi was instrumental to the company's growth into global market leadership positions in power protection and data center physical infrastructure, with significant roles in starting and growing the company's data center physical infrastructure business and in developing and expanding the company's business across Europe and Asia. He also led C&D Technologies' Americas business. Mr. Nawabi has significant executive and leadership experience in various executive roles at AeroVironment, Inc. since 2011. Mr. Nawabi earned his Undergraduate Degree from The University of Maryland at College Park in Electrical Engineering, concentrating in Power. Mr. Nawabi has been a Director of AeroVironment, Inc. since May 2, 2016.

CEO Compensation
  • Wahid's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Wahid's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the AeroVironment management team in years:

1
Average Tenure
53
Average Age
  • The average tenure for the AeroVironment management team is less than 2 years, this suggests a new team.
Management Team

Wahid Nawabi

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
50
TENURE
3.9 yrs

Ken Karklin

TITLE
Senior Vice President of Operations
COMPENSATION
$565K
AGE
50
TENURE
1.3 yrs

Melissa Brown

TITLE
VP, General Counsel & Corporate Secretary
COMPENSATION
$536K
AGE
42
TENURE
5 yrs

Teresa Covington

TITLE
Consultant
COMPENSATION
$831K
AGE
56
TENURE
0.5 yrs

Kirk Flittie

TITLE
Consultant
COMPENSATION
$807K
AGE
57
TENURE
0.8 yrs

Kevin McDonnell

TITLE
Senior VP & CFO
AGE
57
TENURE
0.2 yrs

Scott Newbern

TITLE
VP & Chief Technology Officer

Steven Gitlin

TITLE
Chief Marketing Officer & VP of Investor Relations

Rick Pedigo

TITLE
Vice President of Sales & Business Development

Alison Roelke

TITLE
Vice President of People & Culture
Board of Directors Tenure

Average tenure and age of the AeroVironment board of directors in years:

7.3
Average Tenure
72
Average Age
  • The tenure for the AeroVironment board of directors is about average.
Board of Directors

Tim Conver

TITLE
Chairman of the Board
COMPENSATION
$219K
AGE
75
TENURE
12.7 yrs

Wahid Nawabi

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
50
TENURE
3.9 yrs

Ed Muller

TITLE
Independent Director
COMPENSATION
$175K
AGE
67
TENURE
7.3 yrs

Catharine Merigold

TITLE
Independent Director
COMPENSATION
$178K
AGE
63
TENURE
4.8 yrs

Stephen Page

TITLE
Lead Independent Director
COMPENSATION
$174K
AGE
79
TENURE
1.4 yrs

Arnie Fishman

TITLE
Independent Director
COMPENSATION
$165K
AGE
74
TENURE
22.3 yrs

Charles Holland

TITLE
Independent Director
COMPENSATION
$203K
AGE
73
TENURE
15.9 yrs

Tom Burbage

TITLE
Independent Director
COMPENSATION
$164K
AGE
71
TENURE
7.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess AeroVironment's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AeroVironment has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

AeroVironment, Inc. (NASDAQ:AVAV): What Does Its Beta Value Mean For Your Portfolio?

Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … The fact that this is well above 1 indicates that its share price movements have shown sensitivity to overall market volatility. … What this means for you: Since AeroVironment tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock.

Simply Wall St -

Should You Be Adding AeroVironment (NASDAQ:AVAV) To Your Watchlist Today?

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in AeroVironment (NASDAQ:AVAV). … AeroVironment maintained stable EBIT margins over the last year, all while growing revenue 17% to US$314m. … Of course, you can do well (sometimes) buying stocks that are not growing earnings and do not have insiders buying shares.

Simply Wall St -

AeroVironment, Inc. (NASDAQ:AVAV): What Does The Future Look Like?

Below, I've laid out key growth figures on how market analysts perceive AeroVironment's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … Check out our latest analysis for AeroVironment Analysts' outlook for next year seems pessimistic, with earnings decreasing by a double-digit -16%. … NasdaqGS:AVAV Past and Future Earnings, August 1st 2019 While it is helpful to understand the rate of growth each year relative to today’s figure, it may be more insightful to gauge the rate at which the company is moving every year, on average.

Simply Wall St -

Despite Its High P/E Ratio, Is AeroVironment, Inc. (NASDAQ:AVAV) Still Undervalued?

We'll apply a basic P/E ratio analysis to AeroVironment, Inc.'s (NASDAQ:AVAV), to help you decide if the stock is worth further research. … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for AeroVironment: P/E of 30.47 = $53.96 ÷ $1.77 (Based on the trailing twelve months to April 2019.) Is A High Price-to-Earnings Ratio Good? … The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings.

Simply Wall St -

Is AeroVironment, Inc.'s (NASDAQ:AVAV) CEO Pay Fair?

First, this article will compare CEO compensation with compensation at similar sized companies. … View our latest analysis for AeroVironment How Does Wahid Nawabi's Compensation Compare With Similar Sized Companies? … We think total compensation is more important but we note that the CEO salary is lower, at US$535k.

Simply Wall St -

What Do Investors Need To Know About AeroVironment, Inc.'s (NASDAQ:AVAV) Growth?

Based on AeroVironment, Inc.'s (NASDAQ:AVAV) recently announced earnings update on 30 April 2019, analyst consensus outlook seem pessimistic, as a 16% fall in profits is expected in the upcoming year compared with the past 5-year average growth rate of 42%. … To understand the overall trajectory of AVAV's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope. … NasdaqGS:AVAV Past and Future Earnings, June 27th 2019 This results in an annual growth rate of 6.3% based on the most recent earnings level of US$42m to the final forecast of US$43m by 2022.

Simply Wall St -

The AeroVironment (NASDAQ:AVAV) Share Price Is Up 107% And Shareholders Are Boasting About It

(NASDAQ:AVAV) shareholders, since the share price has fallen 10% in that time. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … AeroVironment was able to grow its EPS at 72% per year over three years, sending the share price higher.

Simply Wall St -

Is AeroVironment, Inc. (NASDAQ:AVAV) Expensive For A Reason? A Look At Its Intrinsic Value

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $33.70 $43.65 $44.00 $62.30 $70.99 $78.51 $84.97 $90.56 $95.47 $99.87 Growth Rate Estimate Source Analyst x2 Analyst x2 Analyst x1 Analyst x1 Est @ 13.95% Est @ 10.58% Est @ 8.23% Est @ 6.58% Est @ 5.42% Est @ 4.62% Present Value ($, Millions) Discounted @ 8.34% $31.11 $37.19 $34.60 $45.22 $47.57 $48.56 $48.51 $47.72 $46.44 $44.84 Present Value of 10-year Cash Flow (PVCF)= $431.75m "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 8.3%. … NasdaqGS:AVAV Intrinsic value, June 4th 2019 Important assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

A Holistic Look At AeroVironment, Inc. (NASDAQ:AVAV)

NasdaqGS:AVAV Income Statement, May 24th 2019 Next Steps: For AeroVironment, I've put together three relevant factors you should further research: Future Outlook: What are well-informed industry analysts predicting for AVAV’s future growth? … Take a look at our free research report of analyst consensus for AVAV’s outlook. … The intrinsic value infographic in our free research report helps visualize whether AVAV is currently mispriced by the market.

Simply Wall St -

Is AeroVironment, Inc. (NASDAQ:AVAV) Better Than Average At Deploying Capital?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for AeroVironment: 0.13 = US$58m ÷ (US$499m - US$42m) (Based on the trailing twelve months to January 2019.) So, AeroVironment has an ROCE of 13%. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

Company Info

Description

AeroVironment, Inc. designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S. Government. It also provides small UAS products, including spare equipment, alternative payload modules, batteries, chargers, repair services, and customer support. In addition, the company develops high altitude pseudo-satellite systems for a commercial customer based in Japan. The company was founded in 1971 and is headquartered in Simi Valley, California.

Details
Name: AeroVironment, Inc.
AVAV
Exchange: NasdaqGS
Founded: 1971
$1,448,955,192
23,768,950
Website: http://www.avinc.com
Address: AeroVironment, Inc.
900 Innovators Way,
Simi Valley,
California, 93065,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS AVAV Common Stock Nasdaq Global Select US USD 23. Jan 2007
DB JPX Common Stock Deutsche Boerse AG DE EUR 23. Jan 2007
LSE 0HAL Common Stock London Stock Exchange GB USD 23. Jan 2007
BRSE JPX Common Stock Berne Stock Exchange CH CHF 23. Jan 2007
Number of employees
Current staff
Staff numbers
699
AeroVironment employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 03:25
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/06
Last earnings filing: 2020/03/04
Last earnings reported: 2020/01/25
Last annual earnings reported: 2019/04/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.