New York Stock Exchange (NYSE) · Industrials

Madison Air Solutions Corporation MAIR

SpeculativeScore band: 30–40

Last evaluation: 2026-09-11
Deep report: 2026-09-11 (translated from Romanian)

The thesis, in one sentence

Financing risk from a recent acquisition has been resolved cleanly, with insiders buying into the placement, but the stock still looks expensive: free-cash-flow yield on the real share count sits below fair value, and merging a lower-margin business into a higher-margin one raises leverage.

Written for this site in plain English, without figures. The arithmetic is in the full report.

Key risks

Pricing power is unproven and adjusted gross margin has been eroding
Integrating a lower-margin acquisition raises the combined company's leverage
The bull case for the acquired unit's margin may be too optimistic

What would change the verdict

Share count rises further through new issuance
Revenue growth slows for two consecutive quarters
Gross margin falls for two consecutive quarters
Return on equity rises to a level that justifies the price

Read it yourself

Step five of the method is the reader's: open the latest annual or quarterly report and read it before acting on anything here. A score is a summary, and a summary is not understanding.

Filings at SEC EDGAR →

Next report expected 2026-11-12. The deep report was written against the filings available on 2026-09-11; anything published since is not in it.

Price, one year

up daydown day

Daily bars for the last year, drawn relative to the latest close, with no price axis. The shape of the year, not a price.

DCF valuation range

range of the DCF modelsbase casetoday's price

Valuation range, shape only. Figures in the full version.

Monte Carlo outcome shape

scenarios below today's pricescenarios above today's pricetoday's price

Distribution of simulated outcomes around today's price. Bar heights only; the scale and the percentiles are in the full version.

Where the money goes

Last four reported quarters, 2025-03 → 2026-06, in USD. Filings data as gathered on 2026-09-11. Figures rounded to three significant digits.

Chapter one: Deep-value analysis, September 11, 2026

MAIR — Madison Air Solutions Corporation

Deep-value analysis, September 11, 2026

Ticker: MAIR (NYSE) · Sector: Industrials / Building Products & Equipment · Reporting and pricing currency: USD Reference price: … (close on 09/10/2026 — the stock's all-time low) Prior GBL score in tracker: 40.0% — SPECULATIVE (Graham 1.0 · Buffett 4.5 · Lynch 5.5 · total 11.0/30 · F-Score 8.0 · denominator 60.0), evaluated 09/06/2026 Prior deep analysis: 08/19/2026, verdict AVOID, median intrinsic value … at a price of … Reason for rerun: the mechanical triage deep_delta.py flagged FULL on the falsifier net_debt_ebitda

Figures were removed from this excerpt. The full report opens free for five tickers a week — see what's open now.

Full report contents

Deep-value analysis, September 11, 2026
🔒 Executive summary (Available in the full report)
🔒 Business and moat (Available in the full report)
🔒 Management and capital allocation (Available in the full report)
🔒 What changed in the last 4 quarters (Available in the full report)
🔒 Balance sheet analysis — Quality of Earnings (Thornton O'Glove method) (Available in the full report)
🔒 CEO profile — Outsider traits (William Thorndike method) (Available in the full report)
🔒 Accounting red flags (Available in the full report)
🔒 Triangulated valuation (Available in the full report)
🔒 Pre-mortem (Available in the full report)
🔒 Verdict compared with the GBL tracker score (Available in the full report)

Evaluation history

Date	Verdict
2026-08-19	Speculative
2026-09-06	Speculative
2026-09-11	Speculative

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