AirBoss of America Corp BOS

MaterialsAutomobiles & Auto PartsCanada

Last close 6.35 CAD on Nov 1, 2026, +38.8% year to date

Quant rating

Quant rating B Rank 33 of 154 in Materials

Growth B 31 of 154
Valuation B 29 of 154
Quality C 72 of 154
Revisions A 9 of 154
Momentum B 59 of 154

Wall Street consensus Buy (2.50)Average target 9.50 CAD +49.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 173M
Enterprise value: 285M
52-week range: 3.87 – 10.08
3-year range: 3.50 – 10.08
Dividend yield: 2.20%
Beta (5 years): 1.71
Shares outstanding: 27.2M
Next earnings: Nov 4, 2026

About the company

AirBoss of America Corp. is a diversified developer, manufacturer and provider of survivability solutions, advanced custom rubber compounds and finished rubber products. It operates through two divisions: AirBoss Rubber Solutions and AirBoss Manufactured Products. AirBoss Rubber Solutions is a North American custom rubber compounder with 500 million turn pounds of annual capacity. AirBoss Rubber Solutions manufactures customized rubber-based formulations used by automotive, heavy industry, construction and infrastructure, oil and gas, defense, and more. AirBoss Manufactured Products is a supplier of anti-vibration and rubber-molded solutions to the North American automotive market and other sectors, and also a global supplier of personal and respiratory protective equipment and technology for the defense, healthcare, medical and first responder communities, through its AirBoss Defense operations. Its AirBoss Engineered Products include bumper, exhaust damper and exhaust isolator.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	563	557	564	646	741	–
Revenue growth	1.2%	−1.4%	−12.7%	−12.8%	16.1%	−2.5%
EPS (basic, normalized)	−0.44	−0.66	−0.32	0.62	2.15	–
EPS growth	–	–	–	−71.1%	–	–
Gross margin	17.4%	15.5%	15.6%	17.0%	22.8%	17.7%
Net margin	−2.1%	−5.3%	−9.8%	−6.7%	8.0%	−3.2%
ROE	−7.1%	−14.8%	−24.1%	−14.8%	21.7%	−7.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	11.4
Current ratio	1.72x
Long-term debt (mil)	116
Net debt (mil)	114
Total equity (mil)	169
Net debt / equity	0.67x
Net debt / EBITDA	2.45x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	563	+1.2%	0.5x	46.4	+36.8%	6.1x	−0.44	+33.8%	−14.5x
2026	587	+4.3%	0.5x	49.1	+6.0%	5.8x	0.39	+189.8%	16.2x
2027	617	+5.1%	0.5x	56.0	+13.9%	5.1x	0.57	+46.4%	11.1x
2028	628	+1.7%	0.5x	56.7	+1.4%	5.0x	0.56	−2.3%	11.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	587	−0.9%	+0.6%	−3.0%	0.39	+5.7%	+12.0%	+14.3%
2027	617	+2.1%	+3.6%	+1.6%	0.57	+10.8%	+12.3%	+34.4%
2028	628	+3.3%	+8.0%	–	0.56	0.0%	+11.1%	–

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	103	95.4	96.2	92.0	105	98.6	100	106	106	108
Sales mean (mil)	102	106	102	103	106	104	98.0	106	116	104
Surprise	+2.0%	−9.9%	−6.0%	−10.9%	−0.8%	−5.1%	+2.4%	0.0%	−8.5%	+4.2%
EPS reported	−0.18	−0.35	−0.12	−0.06	−0.02	0.08	−0.11	−0.28	0.08	0.09
EPS mean	−0.04	−0.04	−0.04	−0.02	−0.03	0.02	−0.01	0.03	0.07	0.07
Surprise	−315.4%	−775.0%	−182.4%	−166.7%	+27.3%	+255.6%	−1,000.0%	−1,220.0%	+23.1%	+38.5%

Peer comparison Automobiles & Auto Parts

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
BOS AirBoss of America Corp	173M	2.45x	−2.1%	1.03x	16.2x	11.1x	5.8x	5.1x
RLEA Rubber Leaf Inc	259M	–	−39.4%	–	–	–	–	–
SRI Stoneridge Inc	227M	3.18x	−11.9%	1.09x	−6.9x	−31.6x	12.1x	8.6x
NIU NIU Technologies	199M	–	−0.9%	1.31x	−5.1x	−18.4x	−1.1x	−26.0x
CAAS China Automotive Systems Inc	181M	–	5.6%	0.29x	–	–	–	–
CVGI Commercial Vehicle Group Inc	180M	3.15x	−3.2%	0.87x	−25.3x	15.8x	6.8x	5.4x
Mean		2.93x	−8.7%	0.92x	−5.3x	−5.8x	5.9x	−1.7x
Median		3.15x	−2.6%	1.03x	−6.0x	−3.7x	6.3x	5.2x

Technical analysis

1M−12.5%
3M−11.2%
1Y+31.6%
3Y+84.7%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, AirBoss of America Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	563	557	564	646	741	639
Cost of revenue	465	470	476	537	572	475
Gross profit	97.9	86.3	88.0	110	169	164
Selling, general & administrative expenses	68.4	65.8	68.3	60.7	82.6	54.0
Research & development	4.8	5.2	5.3	5.6	5.6	3.3
Depreciation/amortization	10.9	12.7	13.2	13.5	10.7	8.2
Interest expense (income), operating	0.4	1.2	–	–	–	–
Unusual expense (income)	14.6	9.9	10.6	77.2	−3.2	−9.2
Other operating expenses	−6.4	0.2	35.0	−0.2	−0.7	2.9
Operating income	5.3	−8.6	−44.4	−47.0	74.2	105
Net interest income (expense)	−5.4	−16.0	−13.9	−7.0	−5.8	−2.7
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−5.7	−2.4	7.0	−0.8	0.5	−1.6
Net income before taxes	−5.7	−26.9	−51.3	−54.8	68.9	100
Provision for taxes	6.1	2.4	4.0	−11.5	9.9	28.7
Minority interest	–	–	–	–	0	−28.7
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−11.8	−29.3	−55.3	−43.2	59.0	42.9
Extraordinary items	–	–	–	–	–	–
Net income	−11.8	−29.3	−55.3	−43.2	59.0	42.9
EBIT, normalized	20.2	2.5	−33.8	30.3	71.0	95.9
EBITDA, normalized	47.0	32.7	−4.2	59.9	97.4	119
Basic EPS, normalized	−0.44	−0.66	−0.32	0.62	2.15	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, AirBoss of America Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	11.0	9.3	38.4	25.1	9.0	111
Receivables	88.1	102	108	140	112	89.2
Total inventory	69.3	82.2	85.0	126	154	58.0
Prepaid expenses	8.7	9.5	11.1	12.6	12.7	7.9
Other current assets	0.1	0.8	0	0	0	0
Total current assets	177	204	242	303	288	266
Property, plant & equipment	108	121	112	121	118	103
Goodwill	34.2	35.8	33.0	69.9	65.2	44.6
Intangibles	46.4	66.6	71.2	83.5	87.8	46.7
Long-term investments	–	–	–	–	–	–
Note receivable	0.4	0.4	0.5	3.0	0.9	0.9
Other long-term assets	13.6	17.4	13.4	16.6	0.6	6.3
Total assets	380	445	472	597	560	468
Liabilities
Accounts payable	97.0	82.7	90.1	115	130	94.6
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	7.5	7.2	3.2	3.1	3.0	34.5
Other current liabilities	3.6	1.1	3.2	3.7	3.6	1.7
Total current liabilities	108	91.0	96.6	122	137	131
Long-term debt	107	162	170	192	98.8	81.0
Minority interest	–	–	–	–	–	0
Other liabilities	5.7	11.3	8.3	16.5	27.4	8.2
Total liabilities	221	264	275	330	263	220
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	121	127	117	119	111	111
Additional paid-in capital	10.2	9.3	7.3	6.2	3.2	2.0
Retained earnings (accumulated deficit)	27.7	45.4	73.4	142	183	135
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	159	181	197	267	297	248
Total liabilities & shareholders' equity	380	445	472	597	560	468

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, AirBoss of America Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−11.8	−29.3	−55.3	−43.2	59.0	71.6
Depreciation, depletion & amortization	26.8	30.2	29.6	29.7	26.4	23.2
Deferred taxes	–	–	–	–	–	−4.3
Non-cash items	35.0	30.8	59.3	65.0	18.9	41.5
Changes in working capital	17.5	−19.1	20.6	−93.2	−102	0.9
Cash from operations	67.4	12.6	54.2	−41.7	2.6	133
Investing activities
Capital expenditures	−16.5	−15.3	−11.3	−13.8	−22.7	−19.0
Other investing cash flows	0.3	0	0.1	0	−58.8	8.1
Cash from investing	−16.3	−15.3	−11.2	−13.8	−81.6	−10.9
Financing activities
Financing cash flow items	−0.2	−3.4	−0.9	0	−2.0	−0.9
Cash dividends paid	−3.7	−6.0	−10.6	−11.3	−9.3	−6.2
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−45.4	−20.6	−17.9	82.0	−10.8	−5.1
Cash from financing	−49.4	−29.9	−29.4	70.7	−22.1	−12.2
Foreign exchange effects	0.3	0.2	0.2	0.2	0.3	0.7
Net change in cash	2.1	−32.4	13.8	15.5	−101	111
Free cash flow	50.9	−2.7	42.9	−55.5	−20.2	114

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.