Butler National Corporation (BUKS) Stock Analysis

Why this analysis is different

• A 9-signal quantitative MoonshotScore built from filings, insider activity, and market data — computed from the numbers, not from opinion.
• An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
• Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.

Butler National Corporation (BUKS) Industrial Operations Profile

Butler National Corporation (BUKS) operates in the aerospace and defense sector, providing aircraft modifications and professional services, including casino management, showcasing a unique dual-market presence with a focus on innovation and customer service.

What Is the Investment Thesis for BUKS?

The Aerospace Products segment is poised for growth, supported by a robust demand for aircraft modifications and upgrades, particularly in military applications, where the company has established a strong foothold. With a profit margin of 21.4% and a gross margin of 51.0%, BUKS demonstrates operational efficiency that outpaces many competitors in the aerospace sector. The Professional Services segment, particularly the management of Boot Hill Casino, provides a steady revenue stream that can buffer against fluctuations in the aerospace market. However, investors should remain cautious of the risks associated with trading on the OTC market, including lower liquidity and regulatory oversight. Monitoring developments in both segments will be crucial for assessing the company's future performance.

Based on FMP financials and quantitative analysis

BUKS Key Highlights

Market Cap of $246M reflects the company's established presence in the aerospace and gaming sectors.

• P/E ratio of 11.48 indicates potentially attractive valuation compared to industry peers.
• Profit margin of 21.4% showcases strong operational efficiency and effective cost management.
• Gross margin of 51.0% exceeds the industry average, highlighting the company's competitive advantage in aerospace products.
• Beta of 0.21 suggests lower volatility compared to the broader market, indicating stability in stock performance.

Who Are BUKS's Competitors?

BUKS is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance This table mixes two scoring engines — compare a number only with others carrying the same tag.

What Are BUKS's Key Strengths?

Strong operational margins with a profit margin of 21.4%.

• Diverse business model spanning aerospace and gaming sectors.
• Established presence in the aerospace industry since 1960.
• Expertise in aircraft modifications and avionics services.

What Are BUKS's Weaknesses?

Limited liquidity due to trading on the OTC market.

• No dividend yield may deter income-focused investors.
• Potential regulatory scrutiny associated with OTC trading.
• Dependence on a few key segments for revenue generation.

What Could Drive BUKS Stock Higher?

Expansion of aerospace product offerings to include new avionics systems.

• Management of Boot Hill Casino continues to generate steady revenue.
• Strategic partnerships aimed at enhancing service capabilities in the aerospace sector.
• Continuous investment in technology upgrades for aircraft modifications.
• Potential government contracts for military aircraft upgrades.

What Are the Key Risks for BUKS?

Dependence on a limited number of key clients in the aerospace sector.

• Economic downturns affecting the gaming industry and consumer spending.
• Regulatory risks associated with operating in the OTC market.
• Competition from larger, well-capitalized aerospace firms.

What Are the Growth Opportunities for BUKS?

• Growth opportunity 1: The global aerospace market is expected to reach $1 trillion by 2030, driven by increased demand for aircraft modifications and upgrades. Butler National's expertise in avionics and aircraft systems positions it to capture a significant share of this expanding market, particularly in military applications where modernization is a priority.
• Growth opportunity 2: The gaming industry is projected to grow at a CAGR of 9.5% through 2027, with increased consumer spending on leisure activities. Butler National's management of Boot Hill Casino and Resort provides a strategic advantage in capitalizing on this trend, enhancing revenue stability and growth potential.
• Growth opportunity 3: The rise of unmanned aerial vehicles (UAVs) and advanced avionics systems presents a new market for Butler National. As defense applications for UAVs expand, the company can leverage its existing capabilities to offer specialized modifications and services tailored to this emerging sector.
• Growth opportunity 4: Butler National's focus on refurbishing and selling aircraft, particularly Learjets, taps into a niche market with high demand. The increasing interest in pre-owned aircraft due to rising costs of new aircraft presents an opportunity for the company to expand its sales and service offerings.
• Growth opportunity 5: Strategic partnerships with other aerospace firms and government contracts can enhance Butler National's market position. By aligning with key players in the industry, the company can gain access to new technologies and customer bases, further driving growth and innovation.

What Threats Does BUKS Face?

• Intense competition from larger aerospace and defense firms.
• Economic downturns impacting the gaming and aviation sectors.
• Regulatory challenges associated with OTC market operations.
• Technological advancements by competitors may outpace Butler National.

What Are BUKS's Competitive Advantages?

• Established reputation in the aerospace sector with decades of experience.
• Diverse revenue streams from both aerospace and gaming industries.
• Strong relationships with clients in the aviation and military sectors.
• Specialization in niche markets, particularly aircraft modifications.
• Operational efficiency reflected in high profit and gross margins.

What Does BUKS Do?

Butler National Corporation, founded in 1960, is headquartered in New Century, Kansas, and has evolved significantly since its inception. The company specializes in designing, engineering, manufacturing, and distributing a diverse portfolio of aerostructures, aircraft components, avionics, and related systems on a global scale. Butler National operates through two primary segments: Aerospace Products and Professional Services. The Aerospace Products segment is dedicated to aircraft modifications, providing services for business-size aircraft ranging from passenger to freighter configurations. This segment also includes radar systems and modifications for intelligence surveillance reconnaissance, particularly for aircraft like Learjet, Beechcraft, Cessna, and Dassault Falcon. Additionally, it manufactures electronics upgrades for military aircraft and vehicles, and provides avionics equipment installation and repair services. The Professional Services segment manages Boot Hill Casino and Resort in Dodge City, Kansas, alongside offering architectural and engineering services. The company also engages in the acquisition, refurbishment, and sale of aircraft, primarily focusing on Learjets. With a workforce of 343 employees, Butler National Corporation serves a wide array of clients in the aviation industry, including owners and operators of single-engine, commercial, regional, business, and military aircraft, positioning itself as a versatile player in both aerospace and gaming sectors.

What Products and Services Does BUKS Offer?

• Design, engineer, and manufacture aerostructures and aircraft components.
• Provide aircraft modifications, including upgrades for military and commercial applications.
• Manage Boot Hill Casino and Resort, offering gaming and entertainment services.
• Offer architectural and engineering services for commercial and industrial projects.
• Acquire, refurbish, and sell aircraft, primarily focusing on Learjets.
• Distribute and service avionics equipment and systems for various aircraft.

How Does BUKS Make Money?

• Generate revenue through the sale and service of aerospace products and components.
• Earn income from managing gaming facilities and related services.
• Provide engineering and architectural services to commercial clients.
• Refurbish and sell aircraft, capitalizing on the pre-owned market.
• Offer specialized modifications and upgrades for military and commercial aircraft.

What Industry Does BUKS Operate In?

The aerospace and defense industry is experiencing robust growth, driven by increasing defense budgets globally and rising demand for commercial aviation services. The market is projected to expand significantly over the next decade, with a focus on modernization and technological advancements in aircraft systems. Competitors in this space include established firms with strong government contracts and advanced technology capabilities. Butler National Corporation's focus on niche modifications and professional services positions it uniquely within this competitive landscape, allowing it to capitalize on both defense spending and commercial aviation growth.

Who Are BUKS's Key Customers?

• Owners and operators of single-engine and commercial aircraft.
• Military organizations seeking aircraft modifications and upgrades.
• Casino patrons and visitors to Boot Hill Casino and Resort.
• Commercial clients requiring architectural and engineering services.
• Aviation industry stakeholders looking for avionics solutions.

Butler National Corporation Financial Trajectory

Butler National Corporation (BUKS) reported $27.7M in revenue for Q4 FY2026, reflecting 2.8% growth compared to the prior quarter. The company recorded net income of $5.6M, with diluted EPS of $0.09. Revenue has increased across the last three reported quarters, suggesting sustained momentum for this micro-cap Industrials company. Across the four most recent quarters, BUKS averaged $0.08 in diluted EPS.

Company Profile

Butler National Corporation operates in the Aerospace & Defense industry within the Industrials sector. It is headquartered in New Century, US. The company is led by CEO Adam Sefchick. BUKS has traded publicly since 1994.

How Butler National Corporation Is Valued

Butler National Corporation carries a market capitalization of $246M, placing it in the micro-cap category. Relative to its peer group, BUKS's quantitative score of 50/100 is roughly in line with the peer average of 57/100.

Return on equity for Butler National Corporation stands at 28.5%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 14.0%, showing how much profit it generates from its asset base. BUKS trades at a trailing price-to-earnings ratio of 11.48, below the Industrials sector average of ~28.00x. Its free cash flow yield is 5.0%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.88 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 7.5%, the inverse of the P/E and a quick read on earnings relative to price.

Butler National Corporation's Piotroski F-Score is 9/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 5.03 places it in the safe zone, indicating low near-term bankruptcy risk.

Over the past six months, Butler National Corporation insiders filed 24 SEC Form 4 transactions — 5 sales and 19 purchases. On net that is roughly 23K shares acquired (about $93K) — insiders putting money in tends to read as conviction.

BUKS Financials

BUKS Latest News

BUKS Analyst Consensus

BUKS MoonshotScore

Butler National Corporation Industrials Stock: Key Questions Answered

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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