Madison Air Solutions Corporation (MAIR) Stock Analysis
Industrials · Building Products & Equipment · NYSE
Madison Air Solutions Corporation (MAIR) posted $3.52B in revenue for fiscal 2025 (up 34.1% year over year), at a 0.9% net margin, and has compounded revenue about 17.3%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Madison Air Solutions Corporation
Madison Air Solutions Corporation has grown revenue from $2.56B to $3.52B over the last 3 fiscal years, compounding about 17.3% a year. The most recent year was up 34.1%, so growth is actually accelerating.
Net margin sits at 0.9%, down 5.8 points year over year on a 38.8% gross margin. It carries about $5.65B of total debt.
At today's valuation the market is pricing in roughly 18.5% annual free-cash-flow growth. The one thing worth a second look in the filings is heavy debt load.
Synthesised from Madison Air Solutions Corporation's SEC filings — descriptive, not advice. Ask the analyst your own question →
Madison Air Solutions Corporation revenue & earnings — last 3 fiscal years
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $2.56B | $2.62B | $3.52B |
| Gross profit | $937.80M | $1.01B | $1.36B |
| Net income | $58.20M | $175.20M | $30.80M |
| Net margin | 2.3% | 6.7% | 0.9% |
Source: Madison Air Solutions Corporation SEC filings (10-K).
Madison Air Solutions Corporation: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Heavy debt loadTotal debt of $5678.2M is 11.8× last year's operating cash flow — it would take years of cash flow to clear.
What growth is priced into MAIR stock?
At today's market cap of $19.49B, Madison Air Solutions Corporation is priced for free-cash-flow growth of about 18.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $439.80M from the FY ending 2025-12-31). This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 3 years of Madison Air Solutions Corporation financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Madison Air Solutions Corporation financial history by metric
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About Madison Air Solutions Corporation
Madison Air Solutions Corporation manufactures and sells indoor air quality products and solutions in the United States and internationally. It offers heating, air filtration and purification, air movement, and air conditioning solutions under the Reznor, AprilAire, Big Ass Fans, Nortek Air Solutions and, Roberts-Gordon. The company also provides related services, such as custom design, installation, repair, and maintenance. The company distributes through various customer bases and sales channels, including direct sales to national, regional and local companies; manufacturers' sales representatives; distributors; and retail partners. It serves healthcare and life sciences, advanced manufacturing, data centers, logistics, and education industries, as well as residential markets. Madison Air Solutions Corporation was founded in 2017 and is based in Chicago, Illinois. Madison Air Solutions Corporation is a subsidiary of Madison Industries Holdings LLC.
Madison Air Solutions Corporation — frequently asked questions
What is Madison Air Solutions Corporation's revenue?
Madison Air Solutions Corporation (MAIR) reported revenue of $3.52B for fiscal year 2025, up 34.1% from the prior year, according to its SEC filings.
Is Madison Air Solutions Corporation profitable?
Yes. MAIR earned net income of $30.80M in fiscal 2025, a net margin of 0.9%.
What is MAIR's P/E ratio?
Madison Air Solutions Corporation trades at a price-to-earnings ratio of about 111.1 based on the latest data in our nightly-refreshed cache.
How fast is Madison Air Solutions Corporation growing?
MAIR's revenue grew at roughly 17.3% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Madison Air Solutions Corporation have?
As of fiscal year 2025, MAIR carried roughly $5.65B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Madison Air Solutions Corporation's gross margin?
MAIR's gross margin was 38.8% in fiscal 2025 — gross profit of $1.36B on revenue of $3.52B.
What is Madison Air Solutions Corporation's market cap?
Madison Air Solutions Corporation (MAIR) has a market capitalization of about $19.49B, based on the latest data in our nightly-refreshed cache.
When does Madison Air Solutions Corporation's fiscal year end?
MAIR's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into MAIR stock?
At today's market cap of $19.49B, Madison Air Solutions Corporation is priced for free-cash-flow growth of about 18.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $439.80M from the FY ending 2025-12-31).
Where does this data come from?
All figures are computed from Madison Air Solutions Corporation's official SEC filings (10-K and 10-Q), covering 3 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.