Butler National Corp (BUKS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Butler National Corp stock $5.93, price $4.96, upside +19.6%, quality 82 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Butler National Corp
BUKS · USThe stock costs 16% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range $0.5201 – $5.21 · fair‑value band $3.98 – $8.83 · the $4.96 price screens below the $5.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Company profile
Butler National Corporation designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services, and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems.
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It operates through two segments, Aerospace Products and Professional Services.
The Aerospace Products segment designs, manufactures, sells, and services structural modifications, design, integration, and installation of electronic equipment, systems and technologies, as well as defense related articles; and operates repair stations.
Its products include aerial surveillance, aerodynamic enhancement, avcon stability enhancing fins, airplane nose extension, cargo/sensor carrying pods and radomes, fuel system protection devices, navigation / flight display installations, crew work stations, electrical power systems and switching equipment, enlarged aircraft doors, powered airplane sensor lifts, and specialized cabling and harnesses products; and provisions to allow carrying of external stores.
The company also provides modifications on aerial photograph capabilities, aerodynamic improvements, avionics systems, cargo or expanded-sized doors, search and rescue, airborne research capability, extended range fuel tanks, radar systems, intelligence surveillance reconnaissance, special mission modifications, target towing capability, and traffic collision avoidance systems; and cabling, electronic control systems, hangfire override modules, test equipment, and gun control units for apache and blackhawk helicopters, and land and sea based military vehicles.
The Professional Services segment manages a gaming, dining, and entertainment facility. It serves owners and operators of private, commercial, business and government aircraft; and commercial weapon manufacturers and suppliers in North America, Europe, the Middle East, Asia, and internationally.
The company was incorporated in 1960 and is based in New Century, Kansas.
Stock analysis
Butler National Corp (BUKS) currently trades at $4.96, while our model-based Fair Value estimate is $5.93, implying the stock looks roughly 16% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $6.67 per share, and 12 of the 24 models we run sit above the $4.96 price.
Bear case: the Earnings-Based group reads lowest at $3.67, and 12 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $3.98 (bear) to $8.83 (bull), the price of $4.96 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 82/100 (high quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Butler National Corp reported revenue of $98.0M in FY2026 versus $73.5M in FY2022, a compound +7.5%/yr. Reported net income was $21.9M in FY2026, compounding +20.6%/yr from FY2022.
Key figures
Market cap $318M Small · P/E ratio 13.8 · P/S ratio 2.93 · EPS (TTM) $0.3600 · Net margin 21.7% · Return on equity 31.0% · Return on assets (EBIT) 13.8% (5-year average) · Operating margin 24.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 83 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 117% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −23% fair-value upside, at 20%, BUKS screens cheaper than that median.
Fair Value models
All 24 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, 2 officers or directors bought shares worth $305,594, most recently on Oct 2, 2026. Buying cluster
- SaleZeff Capital, LP10% owner4× since Dec 22, 2025: 214,266 shares, avg. $3.90$836,201Nov 4, 2026
- BuyJoseph Patrick DalyDirector, 10% owner11× since Dec 23, 2025: 71,146 shares, avg. $4.06$288,889Oct 2, 2026
- BuyVeradace Capital Management LLC10% owner55,000 shares at $4.04$222,250Sep 15, 2026
- BuyMichael Anthony LohDirector4× since Jan 9, 2026: 23,658 shares, avg. $3.54$83,856Sep 15, 2026
- BuyChristopher J ReedyCEO and President, Director2,000 shares at $2.84$5,680Jan 12, 2026
Plus 9 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗
Revenue & earnings trend
Growth Forecast
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Earlier news
- Butler National boosts share buyback authorization to $11.9M
- Butler National Q1 Earnings Call Highlights
- Butler National outlines scalable aerospace growth with record $51.1M backlog while extending DraftKings deal through 2030
- Butler National Q4 Earnings Call Highlights
Compare Butler National Corp with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aerospace & Defense · 238 stocks
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Price/FCF by industry
- Debt-to-equity by industry
- PEG screener for stocks with fair value
- Undervalued stocks: Industrials
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| TransDigm Group TDG | $1,197 | $1,317 | +10% | vs BUKS |
| Honeywell Aerospace Inc HONA | $152.92 | $168.21 | +10% | vs BUKS |
| Lockheed Martin Corporation LMT | $567.08 | $439.21 | −23% | vs BUKS |
| General Dynamics Corporation GD | $354.06 | $274.19 | −23% | vs BUKS |
| Thales S.A HO | €221.70 | €170.99 | −23% | vs BUKS |
| Northrop Grumman Corporation NOC | $525.01 | $382.98 | −27% | vs BUKS |
| Airbus SE AIR | €196.40 | €112.14 | −43% | vs BUKS |
| RTX Corporation RTX | $189.53 | $88.19 | −53% | vs BUKS |
| General Electric Company GE | $323.24 | $92.26 | −71% | vs BUKS |
| Howmet Aerospace Inc HWM | $205.81 | $52.65 | −74% | vs BUKS |
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Key figures of Butler National Corp
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