AEVEX Corp. (AVEX) Stock Price & How to Invest

AEVEX Corp. was founded in 2017 and runs two segments. Tactical Systems designs and builds attritable unmanned systems: the Phoenix Ghost loitering munition family (including the Disruptor and Dominator variants first revealed publicly when the Pentagon sent 121 units to Ukraine in April 2022), plus the Mako unmanned surface vessel shown at the Special Operations Forces trade show in May 2026, which the company rates at up to 50 knots. Global Solutions is the services half: airborne ISR, processing and exploitation of collected imagery, and in-theater manufacturing and sustainment close to the units using the hardware. Roughly ~78% of revenue comes from government customers, the company employs about ~650 people, and it says it has more than ~10,200 systems committed through the end of 2026.

The investment picture is a fast-growing government supplier priced as a growth stock. Trailing twelve-month revenue is about ~$596 million on net income of roughly ~$29.6 million (~$0.33 per share), and management has guided fiscal 2026 revenue to roughly ~$600 million to ~$620 million. Funded backlog was ~$356.6 million at March 31, 2026, about ~93% of which the company expected to convert to revenue over the remainder of the year, against an identified pipeline it puts at ~$8.2 billion. The offsets are structural rather than operational: Madison Dearborn Partners retains roughly ~79% of the voting power through a dual-class structure, the float is small relative to the ~$2.5 billion market capitalization, and the stock has already traded between about ~$13.07 and ~$42.34 in its first months as a public company. Second quarter results are scheduled for August 12, 2026, the first full reporting period since the IPO.

Customer concentration is the dominant exposure: roughly ~78% of revenue comes from government buyers, so a continuing resolution, a program cancellation or a reprioritization inside the unmanned systems budget can move a full year of results. The dual-class structure leaves Madison Dearborn Partners with about ~79% of the voting power, which means public holders have essentially no say on capital allocation, board composition or a future secondary sale that could pressure the share price. Valuation is demanding at roughly ~67x trailing earnings and about ~4x trailing revenue, a level that assumes multi-year procurement growth rather than the ~$600 million to ~$620 million guided for 2026. Order lumpiness is real, since a single production lot can swing a quarter and funded backlog of ~$356.6 million covers well under a year of revenue. And as a 2026 IPO with a limited public float, the stock has already ranged from about ~$13.07 to ~$42.34, so drawdowns unrelated to fundamentals should be expected.

8 analysts publish price targets on AVEX, averaging $35.38 against a $22.17 price as of August 2026, or +59.6%. The published targets run from $31.00 to $45.00, a moderate spread, and the ratings split 9 buy, 0 hold, 0 sell. Over the last six months there has been 1 raise and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full AVEX forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on AEVEX Corp.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. One-way attack drone procurement moving from experiment to program of record. AEVEX booked roughly ~$88.1 million of production orders for long-range precision strike systems announced in late July 2026, on top of a ~$50 million US Air Force award for advanced unmanned mission capabilities on June 30, 2026 and a ~$17.5 million follow-on in early July. The most optimistic published target, $45.00, assumes this works close to its best case.

The case against. Customer concentration is the dominant exposure: roughly ~78% of revenue comes from government buyers, so a continuing resolution, a program cancellation or a reprioritization inside the unmanned systems budget can move a full year of results. The most pessimistic target, $31.00, is roughly what AVEX is worth if this bites instead.

Read the full bull and bear case on AVEX, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see AEVEX Corp.'s investor relations page or your broker.

• Revenue (TTM): ~$596 million, up ~10.4% year over year
• Net income (TTM): ~$29.6 million, or ~$0.33 per share
• Market capitalization: ~$2.5 billion on ~114 million shares
• P/E ratio (trailing): ~67x at a share price near ~$22
• FY2026 revenue guidance: ~$600 million to ~$620 million
• Funded backlog: ~$356.6 million at March 31, 2026, against a stated pipeline of ~$8.2 billion

AEVEX is profitable, which distinguishes it from most drone-adjacent listings, but the earnings base is thin relative to the market value, so the multiple carries the story. First quarter 2026 revenue of ~$216.7 million against ~$53.3 million a year earlier is not a like-for-like organic comparison, and the pre-IPO reporting history is short. The August 12, 2026 second quarter release is the first clean read on margin progression as a public company.

Other names that sit close to AVEX: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get AVEX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so AVEX sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where AVEX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

AEVEX is a real, profitable, order-backed drone maker whose share price is underwritten by Pentagon budget lines and a multiple that leaves little room for a slow quarter.

Whether AVEX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is AVEX a buy or a sell?, and where the stock could go from here in the AVEX stock forecast.

For income investors, whether AVEX pays a dividend and how the payout looks is covered in does AVEX pay a dividend? And to weigh AVEX against a peer, read the full side-by-side comparisons: AVEX vs AVAV and AVEX vs KTOS.