Butler National (BUKS) has put up a clean set of FY 2026 numbers, with fourth quarter revenue at US$27.7 million and basic EPS of US$0.09, alongside trailing twelve month revenue of US$98.0 million and EPS of US$0.34 that sit against reported earnings growth of 74.8% over the past year. Over recent periods the company has seen revenue progress from US$83.97 million on a trailing basis in FY 2025 to US$98.0 million in FY 2026. EPS over the same trailing window moved from US$0.19 to US$0.34, giving investors a clear view of how higher profit per share is feeding into a trailing net margin of 22.4% versus 14.9% a year earlier and pointing to a business where profitability trends are central to the current earnings story.

See our full analysis for Butler National.

With the headline numbers on the table, the next step is to see how Butler National’s recent results line up with the prevailing narratives around its growth prospects and profitability, and where those stories might need updating.

EPS Trend Across FY 2026

• Across FY 2026, Basic EPS moved from US$0.06 in Q1 to US$0.10 in Q3 and US$0.09 in Q4, while trailing twelve month EPS reached US$0.34 by Q4 compared with US$0.19 at FY 2025 Q4.
• Supporters of a bullish view may note that this higher trailing EPS comes alongside a five year annual earnings growth rate of 27.9%, which is associated with:
  • Reported earnings growth of 74.8% over the past year, alongside trailing twelve month net income of US$21.93 million versus US$12.55 million a year earlier.
  • Quarterly net income through FY 2026 holding between US$3.69 million and US$6.70 million, which indicates that recent profit levels are not solely driven by a single period spike.

Margins Strengthen Behind Butler National

• The trailing net profit margin of 22.4% compares with 14.9% a year ago, and reflects trailing twelve month revenue of US$98.0 million and net income of US$21.93 million.
• Supporters of a bullish narrative point to this margin profile as a key part of the story, yet the data also pose some questions for that perspective:
  • Quarterly revenue in FY 2026 moved between US$20.13 million and US$27.68 million while quarterly net income ranged from US$3.69 million to US$6.70 million, so profitability is being generated across multiple periods rather than concentrated in one quarter.
  • At the same time, there are no forward margin or earnings forecasts in the figures provided, so any argument that current margins will underpin future returns relies heavily on these trailing results alone.

Low P/E Versus DCF Fair Value

• With a share price of US$4.37, Butler National trades on a P/E of 12.7x compared with peer and industry averages of 33.4x and 40.8x, and this is cited as being well below a DCF fair value of US$12.15.
• General market commentary often notes the gap between valuation and recent profit trends, and the numbers here provide both support and context for that discussion:
  • The stock price is about 64% below the DCF fair value of US$12.15, while trailing twelve month earnings of US$21.93 million and a 22.4% net margin provide the earnings base used in that comparison.
  • Because there are no explicit future growth forecasts in the data, any bullish or cautious stance on whether this apparent valuation discount will persist is based on how investors interpret these trailing earnings and margin figures.

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Butler National on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

If Butler National’s recent results and valuation gap have you curious, this is a good time to review the numbers yourself and form an independent view. To see the specific factors investors are optimistic about, take a closer look at the 2 key rewards.

See What Else Is Out There Beyond Butler National

While Butler National shows a low P/E against its cited DCF fair value, the absence of explicit forward earnings and margin forecasts leaves future profitability uncertain.

If that missing forward visibility makes you uneasy, compare Butler National with companies that already pair stronger fundamentals with attractive pricing using the 44 high quality undervalued stocks.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.