Butler National Corporation (BUKS)
OTCQB OTCQB Primary Summary
Butler National Corporation: Undervalued In Relation To Peers
Butler National earns a Buy rating, driven by explosive aerospace segment growth and clear undervaluation versus peers. BUKS' aerospace revenues surged 92% YoY, supported by a $51.1 million backlog and operational efficiencies at Avcon and Butler-Tempe. While recent growth benefited from some timing effects, double-digit revenue growth appears sustainable given industry trends and backlog strength.
Butler National: The Aerospace Transformation Is Accelerating
Butler National is now driven by its Aerospace segment, which delivered 92% YoY growth and comprises 71% of revenue. Despite a 160% stock rally, BUKS trades at 12x LTM earnings, with a PEG of 0.16x, well below sector medians. I assign a Strong Buy rating, targeting $7-8/share (80% upside), based on 20% FY2027 revenue growth and 20% net margin assumptions.
Butler National Q1 Earnings Call Highlights
Butler National OTCMKTS: BUKS reported higher first-quarter fiscal 2027 revenue, operating income and net income, driven primarily by sharp growth in its aerospace products segment, according to management's shareholder conference call.
Butler National Corporation Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| WM William Mueller Mink Brook Asset Management LLC | 1.42M | $3.41M | $6.84M | $3.43M | 100.43% |
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Butler National Corporation Profile
| Aerospace & Defense Industry | Industrials Sector | Adam Sefchick CEO | OTCQB Exchange | 123720104 CUSIP |
| US Country | 374 Employees | - Last Dividend | - Last Split | - IPO Date |
Overview
Butler National Corporation, echoing through its name, operates with a diverse portfolio under its belt, marked by a significant focus within the aerospace domain alongside ventures into professional services. This conglomerate, with roots going back to 1960, has its base in New Century, Kansas, from where it propels its operations across various continents including North America, Europe, the Middle East, Asia, and beyond. The enterprise has tailored its structure to efficiently maneuver through the competitive landscape via two main segments: Aerospace Products and Professional Services. This strategic segmentation allows Butler National Corporation to not only cater to the intricate requirements of the aviation industry, including private, commercial, and government aircraft operators, but also to step into the realm of professional services, offering a blend of entertainment and consulting prowess.
Products and Services
- Aerospace Products
This primary segment encompasses an extensive array of offerings aimed at business-size aircraft such as passenger-to-freighter configurations, radar systems, aerial photography enhancements, and modifications for search and rescue, environmental research, mapping, along with intelligence surveillance and reconnaissance for notable models like Learjet, Beechcraft, and Cessna. These services extend to crafting, selling, and maintaining electronics for weapon control systems on government aircraft and vehicles. Avionics are a key part of their expertise here, including sales, installations, and repairs for a wide spectrum of equipment, from airplane radio systems to complex flight control frameworks, emphasizing their capability in troubleshooting and autopilot system repairs.
- Professional Services
Veering into a distinct direction, this segment showcases Butler National Corporation’s adaptability through the management of Boot Hill Casino and Resort, situated in Dodge City, Kansas. This facet of the company brings forth gaming, dining, and entertainment services under one roof, demonstrating a diversified business strategy. Furthermore, they engage in the acquisition, refurbishment, and sale of airplanes, primarily focusing on Learjets, alongside the ownership of properties. The consulting services here are tailored to business planning and financial coordination, specifically targeting Indian tribes with aspirations to venture into the casino business, thereby encapsulating a unique blend of traditional service offerings with strategic business advisement.
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