Butler National Corporation (BUKS) Stock Analysis & Winston Score

Butler National Corporation is a small aerospace and defense company based in Kansas. It modifies military and civilian aircraft, makes avionics systems, and provides maintenance services. Its customers include the U.S. military and private aircraft owners, and it also operates gaming facilities in Kansas as a separate business segment.

The company earns money through a mix of government contracts, aircraft modification work, and casino gaming revenue. It operates primarily in the United States and is quite small, with a market cap around $300 million. Its aerospace work benefits from long-standing relationships with military customers and specialized technical certifications that are difficult for new competitors to obtain. The main risk is its heavy reliance on U.S. defense spending, which can shift with government budget decisions, while its unusual combination of aerospace and gaming operations makes it harder to compare directly to pure-play competitors.

Winston Score History

Growth Profile

For growth stock investors

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

Revenue Growth

+27.1% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+98.4% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

32.8%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$36M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Butler National Corporation grew revenue 27% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

Every number that matters to educated investors.

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Quality

Gross Margin

53.8%

Healthy — 53.8% gross margin

Operating Margin

34.3%

Excellent — 34.3% operating margin

ROCE

8.6%

Below par — 8.6% 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

+11.9%

Steady sales growth (11.9% YoY)

EPS YoY

+41.4%

Earnings growing fast (41.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

117%

Turns 117% of profit into real cash

FCF Margin

16.9%

Converts sales into free cash efficiently (16.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.41

Conservative — low debt load (0.41)

Interest Cover

12.06x

Comfortably covers interest (12.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

13.4x

no trend

Attractive valuation — P/E 13.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

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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