Madison Air Solutions Corporati (MAIR) Stock Price & How to Invest

Madison Air Solutions Corporation (NYSE: MAIR) designs and manufactures indoor air quality, heating, air movement, filtration and cooling systems, selling through a portfolio of well-known brands including Big Ass Fans, Nortek Air Solutions, AprilAire, Broan-NuTone, Reznor and Roberts-Gordon. Founded by Larry Gies in 2017 and headquartered in Chicago, the company serves data centers, healthcare, manufacturing, education and residential housing, and it completed a large NYSE IPO in 2026 (priced at $27 per share).

The investment picture centers on growth and premium valuation. Revenue reached roughly $3.34 billion for the year ended December 2025, up more than 25 percent year over year, and management guided earlier in 2026 to adjusted EBITDA of about $1.02 billion to $1.07 billion. Trailing revenue has since climbed to roughly $3.75 billion. In the second quarter of 2026 revenue rose about 21% to roughly $991 million, net income was about $69 million, and EPS of $0.31 beat the $0.24 consensus; the company then raised its 2026 revenue outlook to high-teens growth.

The bigger news came in late August, when Madison Air agreed to buy ebm-papst, a German maker of fans and motors, for roughly $5 billion. It is funding the equity portion with a $2.25 billion private placement of about 90.1 million Class A shares at $24.97, including $300 million from chairman Larry Gies and $320 million from an affiliated entity, with the remaining roughly $2.8 billion coming from debt and cash. The shares fell after the announcement and closed near $23.20 on October 16, 2026, about 27% below their first 2026 trading level and well under the 52-week high of about $44.50. At that price the market cap is about $11.6 billion, the trailing P/E is about 47 and the forward P/E about 19, so the valuation premium has shrunk considerably. Third-quarter results are scheduled for November 12, 2026, with consensus near $0.30 of EPS on about $1.05 billion of revenue.

The ebm-papst acquisition is now the largest single risk: it is roughly 40% of the company's market value, adds about $2.8 billion of debt and cash funding on top of roughly $3.19 billion of existing debt, and requires integrating a large German manufacturer. The $2.25 billion private placement also diluted existing holders. Valuation has come down (a price-to-sales ratio near 3x and a trailing P/E near 47 in October 2026), but the stock remains priced for growth, so a disappointment could still pressure it hard. The data center cooling opportunity is competitive and capital-cycle sensitive, and a slowdown in AI infrastructure spending would blunt the key thrust. The residential and commercial HVAC segments are cyclical and exposed to housing, interest rates and construction activity. As a recently public company, MAIR also carries a limited trading history, potential lockup-related supply, and concentrated founder ownership. Net margin was under 4% on a trailing basis, a reminder of the gap between the growth story and current profitability.

9 analysts publish price targets on MAIR, averaging $38.67 against a $23.34 price as of October 2026, or +65.7%. The published targets run from $27.00 to $49.00, a moderate spread, and the ratings split 9 buy, 2 hold, 0 sell. Over the last six months there have been 4 raises and 7 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 MAIR 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 Madison Air Solutions Corporati. 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. AI data center cooling. Madison Air is positioning its air, liquid and hybrid cooling systems for high-density AI and cloud facilities, a category with fast-rising capital spending. The most optimistic published target, $49.00, assumes this works close to its best case.

The case against. The ebm-papst acquisition is now the largest single risk: it is roughly 40% of the company's market value, adds about $2.8 billion of debt and cash funding on top of roughly $3.19 billion of existing debt, and requires integrating a large German manufacturer. The most pessimistic target, $27.00, is roughly what MAIR is worth if this bites instead.

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

No. Madison Air Solutions Corporati (MAIR) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

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

• Revenue (TTM): ~$3.75B; Q2 2026 ~$991M, up ~21% year over year
• Margins (TTM): ~39% gross, ~20% operating, ~3.7% net
• Net income (TTM): ~$142M; Q2 2026 EPS ~$0.31 vs ~$0.24 consensus
• P/E trailing / forward: ~47x / ~19x
• Price / sales: ~3.1x
• Market cap and price: ~$11.6B at ~$23.20 (Oct 16, 2026); down ~35% over 3 months
• Debt and cash: ~$3.19B debt, ~$262M cash at June 30, 2026, before ebm-papst funding

The multiple has compressed sharply since mid-2026: price-to-sales fell from about 6x to about 3x and the forward P/E sits near 19, as the market priced in the dilution and leverage of the roughly $5 billion ebm-papst purchase. Operating results have kept growing at about 20% with an earnings beat in the second quarter and a raised revenue outlook, so the debate has moved from whether the growth is real to whether the acquisition is worth its cost. The nine covering analysts average a target near $38.67, though RBC trimmed its target to $35 in October.

Other names that sit close to MAIR: 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 MAIR 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 MAIR sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where MAIR 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.

MAIR is a bet on a fast-growing HVAC and air quality operator riding the AI data center cooling wave, whose share price has fallen about 35% in three months as investors weigh a large, equity-funded acquisition against still-strong organic growth.

Whether MAIR 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 MAIR a buy or a sell?, and where the stock could go from here in the MAIR stock forecast.

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