analyzeportfolio
OTC · Communication Services

Butler National Corp. (BUKS)

As-reported financials and SEC filings for Butler National Corp. The latest annual period is FY2026. The latest reported quarter is Q1 FY2027. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Butler National Corp.

Butler National Corporation designs, engineers, manufactures, sells, and services aerospace products including aerostructures, aircraft components, avionics, and systems for private, commercial, business, and government aircraft. The company also provides professional management services for the gaming industry, operating the Boot Hill Casino and Resort in Dodge City, Kansas. Its aerospace segment focuses on modifications and special mission electronics for aircraft such as Learjet and Textron models, while its professional services segment manages gaming and sports wagering operations.

Snapshot

Revenue
$98.0M
Revenue growth (YoY)
16.7%
Net income
$21.9M
Diluted EPS
$0.34
Gross margin
—
Operating margin
29.0%
Net margin
22.4%
FCF margin
19.6%
ROE
26.8%
net income / fiscal-year-end equity
P/E
12.9×
trailing when available, otherwise FY EPS
Market cap
$296.2M
Long-term debt / equity
0.30×
non-current term debt only

Fundamentals are from SEC filings for FY2026, the latest annual period (ended April 30, 2026). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Butler National

  • Revenue grew 16.7% to $98M in FY2026, faster than the 7.1% the year before.
  • Operating margin is 29.0% in FY2026, +6.5 pp against 22.6% in FY2022.
  • Most recent quarter Q1 FY2027: revenue $31M, up 52.9% from Q1 FY2026.
  • Free cash flow was $19M in FY2026, 19.6% of revenue.
  • Net income rose 74.8% to $22M in FY2026.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Butler National’s fundamentals sit among the 214 Communication Services companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin29.0%
98th percentile of 183
Net margin22.4%
95th percentile of 189
FCF margin19.6%
87th percentile of 163
Revenue growth (YoY)+16.7%
75th percentile of 207
ROE26.8%
93rd percentile of 163
P/E12.9×
25th percentile of 80
Long-term debt / equity0.30×
31st percentile of 100
Short interest1.00d
1st percentile of 213

Butler National’s operating margin of 29.0% ranks in the 98th percentile of the 183 Communication Services companies reporting it. Butler National’s net margin of 22.4% ranks in the 95th percentile of the 189 Communication Services companies reporting it. Butler National’s return on equity of 26.8% ranks in the 93rd percentile of the 163 Communication Services companies reporting it.

12 reported insider purchases (code P) totaling $370,641 in the last 90 days, against 3 sales totaling $236,474. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
12
3 insiders
Bought (90d)
$371K
code P value
Sells (90d)
3
$236K
Reported activity
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-10-15
Zeff Capital, LP10% ownerSell34.8K$4.72$164K
2026-10-14
filed 2026-10-15
Zeff Capital, LP10% ownerSell5.0K$4.80$24K
2026-10-13
filed 2026-10-15
Zeff Capital, LP10% ownerSell10.3K$4.68$48K
2026-10-02
Joseph Patrick DalyDirectorBuy10.0K$4.09$41K
2026-10-02
Joseph Patrick DalyDirectorBuy3.2K$4.13$13K
2026-10-01
filed 2026-10-02
Joseph Patrick DalyDirectorBuy1.8K$4.04$7K
2026-09-22
Joseph Patrick DalyDirectorBuy5.0K$4.01$20K
2026-09-22
Joseph Patrick DalyDirectorBuy1.3K$4.19$5K
2026-09-21
Joseph Patrick DalyDirectorBuy4.0K$4.10$16K
2026-09-15
filed 2026-09-16
Veradace Partners LP10% ownerBuy15.0K$3.91$59K
2026-09-15
filed 2026-09-16
Michael Anthony LohDirectorBuy10.0K$3.91$39K
2026-09-15
filed 2026-09-17
Joseph Patrick DalyDirectorBuy1.0K$4.04$4K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
27.7K
settled 2026-09-30
Change vs prior
-5.6%
vs previous settlement
Days to cover
1.00
at avg daily volume
Avg daily volume
206.6K
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3027.7K-5.6%1.00
2026-09-1529.3K+25.2%1.00
2026-08-3123.4K-19.5%1.00
2026-08-1429.1K-24.9%1.00
2026-07-3138.7K-26.3%1.00
2026-07-1552.5K+80.4%1.00
2026-06-3029.1K-0.2%1.00
2026-06-1529.2K-6.0%1.00

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2026FY2025FY2024FY2023FY2022
Revenue$98.0M$84.0M$78.4M$75.2M$71.5M
Gross profit—————
Operating income$28.5M$16.8M$13.2M$8.7M$16.1M
Net income$21.9M$12.6M$12.5M$4.5M$10.4M
Diluted EPS$0.34$0.19$0.18$0.06$0.14

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2026FY2025FY2024FY2023FY2022
Cash and equivalents$35.1M$25.2M———
Current assets$67.3M$47.3M$38.6M$40.2M$27.8M
Total assets$141.8M$123.3M$114.0M$113.9M$100.8M
Current liabilities$31.4M$24.4M$22.9M$25.4M$13.7M
Long-term debt$24.6M$29.9M$33.2M$38.4M$43.4M
Total liabilities$59.9M$58.2M$59.5M$67.1M$60.0M
Total equity$82.0M$65.1M$54.4M$46.8M$40.8M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2026FY2025FY2024FY2023FY2022
Operating cash flow$25.8M$18.4M$7.5M$20.9M$11.2M
Capital expenditure$6.5M$8.3M$8.7M$6.5M$9.6M
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2027$30.8M52.9%$5.3M$0.08
Q4 FY202628.1%
Q3 FY2026$26.9M27.1%$6.7M$0.10
Q2 FY2026$23.3M8.9%$6.0M$0.09
Q1 FY2026$20.1M1.5%$3.7M$0.06
Q4 FY2025-4.5%
Q3 FY2025$21.2M11.7%$3.4M$0.05
Q2 FY2025$21.4M9.0%$3.6M$0.05

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeOTC
SectorCommunication Services
SIC industryServices-Miscellaneous Amusement & Recreation
Latest annual periodFY2026 (ended April 30, 2026)
Latest reported quarterQ1 FY2027 (ended July 31, 2026)
Oldest indexed filing1995
SEC CIK15847

Selected SEC filings

10-K2026-07-08
View on EDGAR →
10-Q2026-09-11
View on EDGAR →
10-Q2026-03-12
View on EDGAR →
10-Q2025-12-11
View on EDGAR →
10-Q2025-09-12
View on EDGAR →
8-K2026-10-07
View on EDGAR →
8-K2026-10-02
View on EDGAR →
8-K2026-09-30
View on EDGAR →

Largest Communication Services peers

All Communication Services companies →

Monitor BUKS

Get an alert when Butler National files something material, see which superinvestors own it, and ask its filings a question with cited answers.

Monitor BUKS free

Includes one free filing-grounded research answer. Or check your whole portfolio, no account needed.

Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.