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Air Global PLC Ordinary Shares logo

Air Global PLC Ordinary Shares

AIIR
48
Tobacco · Consumer Defensive
Price
$7.00
+0.01 (+0.14%)
Market Cap
$1.12B
Exchange
NASDAQ Global Market
Winston Score
48
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.
Data as of Aug 13, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Strong
Growth
Weak
Cash Flow
Exceptional
Stability
Mixed
Valuation
Weak

Share count falling — buybacks

77.4% over 2y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 155.1M (2023) → 35.1M (2025)

Winston Score History

The full picture

Air Global PLC is a tobacco company that makes and sells tobacco and nicotine products. Its core offerings likely include cigarettes and potentially next-generation products like heated tobacco or nicotine pouches, sold to adult consumers through retail channels. The company operates in the consumer defensive sector, meaning demand for its products tends to stay relatively stable even during economic downturns.

Air Global generates revenue primarily through direct product sales to distributors and retailers. The company has a market capitalization of around $1 billion, placing it in the small-to-mid cap range within a global tobacco industry dominated by much larger players like Philip Morris and British American Tobacco. The tobacco industry faces significant long-term risk from declining smoking rates in developed markets, tightening government regulations, and growing legal liability — making the company's ability to shift toward reduced-risk nicotine products a key factor in its future performance.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

EPS data limited

R&D Spend

$0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Insider Activity

72.3%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$284M cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin
56.1%
Premium pricing power — 56.1% gross margin
Operating Margin
20.8%
Excellent — 20.8% operating margin
ROCE
13.9%
Good — 13.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY
+6.1%
Slow sales growth (+6.1% YoY)
EPS YoY
-54.5%
Earnings shrinking (-54.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency
N/A
Data not available

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Cash Flow

Cash Conversion
248%
Turns 248% of profit into real cash
FCF Margin
22.5%
Converts sales into free cash efficiently (22.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity
1.85
Elevated debt (1.85)
Interest Cover
2.74x
Tight — interest eats into profit (2.7x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)
64.8x
Expensive — P/E 64.8

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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