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AIRGAIN INC (AIRG) Stock Fundamental Analysis

USA - NASDAQ:AIRG - US00938A1043 - Common Stock

4.13 USD
-0.04 (-0.96%)
Last: 10/21/2025, 8:00:00 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to AIRG. AIRG was compared to 123 industry peers in the Electronic Equipment, Instruments & Components industry. While AIRG seems to be doing ok healthwise, there are quite some concerns on its profitability. AIRG is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

AIRG had negative earnings in the past year.
AIRG had a negative operating cash flow in the past year.
In the past 5 years AIRG always reported negative net income.
In multiple years AIRG reported negative operating cash flow during the last 5 years.
AIRG Yearly Net Income VS EBIT VS OCF VS FCFAIRG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -5M -10M

1.2 Ratios

Looking at the Return On Assets, with a value of -14.81%, AIRG is doing worse than 68.29% of the companies in the same industry.
AIRG has a worse Return On Equity (-22.63%) than 69.11% of its industry peers.
Industry RankSector Rank
ROA -14.81%
ROE -22.63%
ROIC N/A
ROA(3y)-21.09%
ROA(5y)-16.89%
ROE(3y)-29.79%
ROE(5y)-23.81%
ROIC(3y)N/A
ROIC(5y)N/A
AIRG Yearly ROA, ROE, ROICAIRG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -20 -40 -60

1.3 Margins

AIRG has a better Gross Margin (42.37%) than 72.36% of its industry peers.
AIRG's Gross Margin has declined in the last couple of years.
AIRG does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 42.37%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y2.24%
GM growth 5Y-2.06%
AIRG Yearly Profit, Operating, Gross MarginsAIRG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40

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5

2. Health

2.1 Basic Checks

AIRG does not have a ROIC to compare to the WACC, probably because it is not profitable.
AIRG has more shares outstanding than it did 1 year ago.
AIRG has more shares outstanding than it did 5 years ago.
There is no outstanding debt for AIRG. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
AIRG Yearly Shares OutstandingAIRG Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M
AIRG Yearly Total Debt VS Total AssetsAIRG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

2.2 Solvency

Based on the Altman-Z score of 0.08, we must say that AIRG is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.08, AIRG is not doing good in the industry: 78.86% of the companies in the same industry are doing better.
There is no outstanding debt for AIRG. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z 0.08
ROIC/WACCN/A
WACC9.1%
AIRG Yearly LT Debt VS Equity VS FCFAIRG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M -10M 20M 30M 40M

2.3 Liquidity

AIRG has a Current Ratio of 2.08. This indicates that AIRG is financially healthy and has no problem in meeting its short term obligations.
AIRG's Current ratio of 2.08 is in line compared to the rest of the industry. AIRG outperforms 46.34% of its industry peers.
AIRG has a Quick Ratio of 1.77. This is a normal value and indicates that AIRG is financially healthy and should not expect problems in meeting its short term obligations.
AIRG has a Quick ratio (1.77) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 2.08
Quick Ratio 1.77
AIRG Yearly Current Assets VS Current LiabilitesAIRG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 71.15% over the past year.
Looking at the last year, AIRG shows a small growth in Revenue. The Revenue has grown by 6.83% in the last year.
The Revenue has been growing slightly by 1.69% on average over the past years.
EPS 1Y (TTM)71.15%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%20%
Revenue 1Y (TTM)6.83%
Revenue growth 3Y-1.94%
Revenue growth 5Y1.69%
Sales Q2Q%-10.28%

3.2 Future

Based on estimates for the next years, AIRG will show a very strong growth in Earnings Per Share. The EPS will grow by 95.05% on average per year.
The Revenue is expected to grow by 3.84% on average over the next years.
EPS Next Y11.08%
EPS Next 2Y95.05%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-11.31%
Revenue Next 2Y3.84%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
AIRG Yearly Revenue VS EstimatesAIRG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M
AIRG Yearly EPS VS EstimatesAIRG Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0.2 -0.2 0.4 -0.4

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for AIRG. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 17.60, the valuation of AIRG can be described as rather expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AIRG indicates a somewhat cheap valuation: AIRG is cheaper than 79.67% of the companies listed in the same industry.
AIRG is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 23.23, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 17.6
AIRG Price Earnings VS Forward Price EarningsAIRG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
AIRG Per share dataAIRG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
A more expensive valuation may be justified as AIRG's earnings are expected to grow with 95.05% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y95.05%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for AIRG!.
Industry RankSector Rank
Dividend Yield N/A

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AIRGAIN INC

NASDAQ:AIRG (10/21/2025, 8:00:00 PM)

4.13

-0.04 (-0.96%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)08-06 2025-08-06/amc
Earnings (Next)11-12 2025-11-12/amc
Inst Owners32.22%
Inst Owner Change0.2%
Ins Owners7.79%
Ins Owner Change7.03%
Market Cap49.15M
Analysts82.22
Price Target7.65 (85.23%)
Short Float %1.21%
Short Ratio4.37
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)13.4%
Min EPS beat(2)-7.84%
Max EPS beat(2)34.64%
EPS beat(4)2
Avg EPS beat(4)6.7%
Min EPS beat(4)-100%
Max EPS beat(4)100%
EPS beat(8)3
Avg EPS beat(8)-22.05%
EPS beat(12)4
Avg EPS beat(12)182.26%
EPS beat(16)6
Avg EPS beat(16)142.54%
Revenue beat(2)0
Avg Revenue beat(2)-1.61%
Min Revenue beat(2)-2.4%
Max Revenue beat(2)-0.82%
Revenue beat(4)0
Avg Revenue beat(4)-3.92%
Min Revenue beat(4)-11.1%
Max Revenue beat(4)-0.82%
Revenue beat(8)1
Avg Revenue beat(8)-2.74%
Revenue beat(12)2
Avg Revenue beat(12)-2.89%
Revenue beat(16)2
Avg Revenue beat(16)-2.74%
PT rev (1m)0%
PT rev (3m)-2.17%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)2.86%
EPS NY rev (3m)-9.68%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.81%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-5.69%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 17.6
P/S 0.86
P/FCF N/A
P/OCF N/A
P/B 1.65
P/tB 3.34
EV/EBITDA N/A
EPS(TTM)-0.15
EYN/A
EPS(NY)0.23
Fwd EY5.68%
FCF(TTM)-0.18
FCFYN/A
OCF(TTM)-0.18
OCFYN/A
SpS4.77
BVpS2.5
TBVpS1.24
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -14.81%
ROE -22.63%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 42.37%
FCFM N/A
ROA(3y)-21.09%
ROA(5y)-16.89%
ROE(3y)-29.79%
ROE(5y)-23.81%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y2.24%
GM growth 5Y-2.06%
F-Score5
Asset Turnover1.25
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 2.36%
Cap/Sales 0.15%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.08
Quick Ratio 1.77
Altman-Z 0.08
F-Score5
WACC9.1%
ROIC/WACCN/A
Cap/Depr(3y)11.66%
Cap/Depr(5y)24.56%
Cap/Sales(3y)0.64%
Cap/Sales(5y)0.91%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)71.15%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%20%
EPS Next Y11.08%
EPS Next 2Y95.05%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)6.83%
Revenue growth 3Y-1.94%
Revenue growth 5Y1.69%
Sales Q2Q%-10.28%
Revenue Next Year-11.31%
Revenue Next 2Y3.84%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y31.34%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year34.03%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-894.09%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-547.02%
OCF growth 3YN/A
OCF growth 5YN/A