Butler National Corp

Chart & Performance

D1W1MN

P/E

9.02

P/S

1.44

EPS

0.19

Div Yield, %

—

Shrs. gr., 5y

1.77%

Rev. gr., 5y

5.95%

Revenues

78m

+4.25%

Net income

13m

+177.06%

CFO

-64.00%

Earnings

Mar 13, 2025

Profile

Butler National Corporation, together with its subsidiaries, engages in the designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services, and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems worldwide. The company operates in two segments, Aerospace Products and Professional Services. The Aerospace Products segment provides aircraft modifications, which include business-size aircraft from passenger to freighter configuration, radar systems, addition of aerial photography capabilities, intelligence surveillance reconnaissance modifications, and stability enhancing modifications for Learjet, Beechcraft, Cessna, and Dassault Falcon aircraft along with other specialized modifications. This segment also manufactures, sells, and services electronics upgrades for classic weapon control systems that are used on military aircraft and vehicles; and sells, installs, and repairs avionics equipment, including airplane radio equipment and flight control systems, as well as troubleshoots and repairs autopilot systems. The Professional Services segment engages in the management of Boot Hill Casino and Resort, a gaming facility, as well as related dining and entertainment facilities in Dodge City, Kansas. This segment also provides architectural services, such as commercial and industrial building design, and engineering services. The company also acquires, refurbishes, and sells airplanes, primarily Learjets. It serves the aviation industry, including owners and operators of single-engine, commercial, regional, business, and military aircraft. Butler National Corporation was incorporated in 1960 and is headquartered in Olathe, Kansas.

URL

https://www.butlernational.com/

IPO date

Oct 27, 1993

Employees

309

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2024‑04	2023‑04	2022‑04	2021‑04	2020‑04	2019‑04	2018‑04	2017‑04	2016‑04	2015‑04
Income
Revenues	78,376 4.25%	75,182 2.33%	73,473 19.51%
Cost of revenue	65,960	69,562	59,696
Unusual Expense (Income)
NOPBT	12,416	5,620	13,777
NOPBT Margin	15.84%	7.48%	18.75%
Operating Taxes	4,244	2,011	3,276
Tax Rate	34.18%	35.78%	23.78%
NOPAT	8,172	3,609	10,501
Net income	12,512 177.06%	4,516 -56.44%	10,368 321.81%
Dividends
Dividend yield
Proceeds from repurchase of equity	(5,059)	(61)	(168)
BB yield	8.60%	0.12%	0.24%
Debt
Debt current	4,916	5,277	5,271
Long-term debt	40,015	45,223	49,315
Deferred revenue		38,252	43,053
Other long-term liabilities			(43,411)
Net debt	27,139	28,503	42,099
Cash flow
Cash from operating activities	7,538	20,937	11,030
CAPEX	(8,740)	(6,510)	(9,579)
Cash from investing activities	(1,126)	(5,936)	(9,504)
Cash from financing activities	(10,617)	(5,491)	(11,061)
FCF	2,196	9,980	(690)
Balance
Cash	17,792	21,997	12,487
Long term investments
Excess cash	13,873	18,238	8,813
Stockholders' equity	47,772	35,272	30,751
Invested Capital	82,101	69,371	82,195
ROIC	10.79%	4.76%	13.79%
ROCE	12.94%	6.40%	15.08%
EV
Common stock shares outstanding	70,436	76,457	75,340
Price	0.84 21.25%	0.69 -25.74%	0.93 54.67%
Market cap	58,849 11.70%	52,686 -24.64%	69,916 57.16%
EV	85,988	81,189	112,015
EBITDA	18,484	11,518	19,058
EV/EBITDA	4.65	7.05	5.88
Interest	2,447	2,743	2,689
Interest/NOPBT	19.71%	48.81%	19.52%