Industrials · Aerospace & Defense
Price
$17.60
Market Cap
$314.8M
Employees
133
Beta
0.60
Avg Volume
522,967
CEO
Shahram Askarpour
Business Description
Innovative Aerosystems, Inc., established in 1988 and based in Exton, Pennsylvania, specializes in the engineering, manufacturing, and provision of sophisticated avionic systems. The company offers a broad spectrum of advanced solutions, including autothrottles, LPV navigators, and standby displays, alongside comprehensive radio management systems for communication, navigation, and surveillance. Their product line further encompasses air data solutions, inertial reference systems, utilities management systems, and integrated air data, attitude, and heading reference systems. Additionally, Innovative Aerosystems delivers flat panel display systems, integrated global navigation systems, global positioning systems, C-130 engine instrument display systems, the Liberty Flight Deck, and various other communications and navigation technologies. The company serves a diverse client base, catering to business aircraft, commercial airlines, military operations, virtual co-pilots, and turboprop platforms. Previously known as Innovative Solutions and Support, Inc., the company adopted its current name, Innovative Aerosystems, Inc., in October 2025.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
19.77
Stock Price: $17.60
EPS (Diluted): 0.89
EPS (Diluted): 0.89
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
3.40
Stock Price: $17.60
Total Equity: $64.60M
Shares: 17,829,033
Total Equity: $64.60M
Shares: 17,829,033
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
9.48
Market Cap: $314.82M
Total Debt: $24.14M
Cash: $2.69M
EBITDA: $25.41M
Total Debt: $24.14M
Cash: $2.69M
EBITDA: $25.41M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$240.9M
Market Cap: $314.82M
Total Debt: $24.14M
Cash: $2.69M
Total Debt: $24.14M
Cash: $2.69M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
45.4%
Gross Profit: $38.30M
Revenue: $84.30M
Revenue: $84.30M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
23.8%
Operating Income: $20.07M
Revenue: $84.30M
Revenue: $84.30M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
18.5%
Net Income: $15.63M
Revenue: $84.30M
Revenue: $84.30M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
24.2%
Net Income: $15.63M
Total Equity: $64.60M
Total Equity: $64.60M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
18.3%
Operating Income: $20.07M
Tax Rate: 21.7%
Equity: $64.60M
Total Debt: $24.14M
Cash: $2.69M
Tax Rate: 21.7%
Equity: $64.60M
Total Debt: $24.14M
Cash: $2.69M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
3.04
Current Assets: $50.73M
Current Liabilities: $16.66M
Current Liabilities: $16.66M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.37
Short-Term Debt: $2.44M
Long-Term Debt: $21.70M
Total Debt: $24.14M
Total Equity: $64.60M
Long-Term Debt: $21.70M
Total Debt: $24.14M
Total Equity: $64.60M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$4.73
Revenue: $84.30M
Shares: 17,829,033
Shares: 17,829,033
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$3.62
Total Equity: $64.60M
Shares: 17,829,033
Shares: 17,829,033
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$0.38
Operating CF: $13.30M
CapEx: -$6.51M
Shares: 17,829,033
CapEx: -$6.51M
Shares: 17,829,033
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $17.60
Stock Price: $17.60
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $15.63M
Net Income: $15.63M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ISSC against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 8:56am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $23.0M | $27.7M | $34.8M | $47.2M | $84.3M |
| Cost of Revenue | $10.3M | $11.1M | $13.5M | $21.3M | $46.0M |
| Gross Profit | $12.8M | $16.7M | $21.3M | $25.9M | $38.3M |
| Operating Expenses | $8.9M | $9.5M | $14.0M | $16.3M | $18.2M |
| Operating Income | $3.9M | $7.2M | $7.4M | $9.7M | $20.1M |
| Net Income | $5.1M | $5.5M | $6.0M | $7.0M | $15.6M |
| EBITDA | $4.4M | $7.7M | $8.7M | $11.9M | $25.4M |
| EPS | $0.29 | $0.32 | $0.35 | $0.40 | $0.89 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 8:56am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $8.3M | $17.3M | $3.1M | $538,977 | $2.7M |
| Total Current Assets | $17.7M | $28.2M | $34.7M | $34.7M | $50.7M |
| Total Assets | $27.1M | $34.7M | $63.0M | $82.4M | $103.4M |
| Current Liabilities | $2.5M | $3.9M | $6.4M | $7.3M | $16.7M |
| Long-Term Debt | $0 | $0 | $17.5M | $28.0M | $21.7M |
| Total Liabilities | $2.5M | $4.0M | $24.3M | $35.7M | $38.8M |
| Total Equity | $24.6M | $30.7M | $38.6M | $46.6M | $64.6M |
| Retained Earnings | -$5.9M | $-359,042 | $5.7M | $12.7M | $28.3M |
Cash Flow (Annual)
Last updated: Jun 24, 2026 8:56am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $4.6M | $6.1M | $2.1M | $5.8M | $13.3M |
| Capital Expenditure | $-340,678 | $-161,230 | $-298,373 | $-657,790 | -$6.5M |
| Free Cash Flow | $4.3M | $5.9M | $1.8M | $5.1M | $6.8M |
| Acquisitions (net) | $0 | $0 | -$35.9M | -$14.2M | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$15.5M | $9.0M | -$14.2M | -$2.6M | $2.2M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 2:33pm (18h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$80.1M $78.5M – $81.8M
|
$93.7M $91.6M – $96.5M
|
$104.3M $102.0M – $107.4M
|
$129.3M $126.4M – $133.1M
|
| EBITDA |
$20.4M $20.0M – $20.8M
|
$23.9M $23.3M – $24.6M
|
$26.6M $26.0M – $27.3M
|
$32.9M $32.2M – $33.9M
|
| Net Income |
$10.8M $9.7M – $11.9M
|
$16.5M $15.9M – $17.0M
|
$17.9M $17.3M – $18.5M
|
$23.8M $23.0M – $24.6M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 8:56am (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +20.4% | +25.5% | +35.6% | +78.6% |
| Gross Profit Growth | +30.5% | +27.8% | +21.6% | +47.8% |
| Operating Income Growth | +85.0% | +2.0% | +31.3% | +107.8% |
| Net Income Growth | +9.1% | +9.1% | +16.1% | +123.3% |
| EBITDA Growth | +74.9% | +13.2% | +36.2% | +113.8% |
Dividend History (Last 20)
Last updated: Jun 24, 2026 8:56am (3d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2022-09-26 | $0.00 | |||
| 2020-12-18 | $0.50 | 2020-12-10 | 2020-12-21 | 2020-12-30 |
| 2020-09-14 | $0.65 | 2020-09-04 | 2020-09-15 | 2020-10-01 |
| 2012-12-28 | $1.50 | 2012-12-07 | 2012-12-17 | 2012-12-27 |
| 2008-09-16 | $1.00 | 2008-09-08 | 2008-09-18 | 2008-09-29 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ISSC — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30