Butler National Corporation: Business Overview, Financials & Competitive Analysis
Butler National Corporation scores 6/10 on the AskCyborg Cyborg Score (Solid). Small-cap aerospace supplier with improving margins and growing defense-related backlog, though limited analyst coverage and OTC listing status present liquidity and visibility risks. Butler National demonstrates improving operational execution with strong Q2 FY2026 earnings growth and expanding aerospace backlog, balanced against modest revenue scale and OTC market liquidity constraints.
What is Butler National Corporation's industry? Butler National Corporation (butlernational.com) operates in Aerospace and Defense. AskCyborg classifies Butler National Corporation under Aerospace and Defense in its company registry.
Butler National Corporation designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services and distributes a portfolio of aerostructures, aircraft components, avionics, accessori...
Cyborg Score thesis
Small-cap aerospace supplier with improving margins and growing defense-related backlog, though limited analyst coverage and OTC...
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Get Current Report FreeButler National Corporation Overview
Pro stress-test →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. It operates through two segments, Aerospace Products and Professional Services, with the latter managing gaming and hospitality operations.
Strategic Profile
Pro stress-test →In Q2 FY2026 (ended October 31, 2025), Butler National reported strong results with 9% revenue growth to $23.25M, operating income up 46%, and Aerospace Products driving 20% segment revenue growth to $14.0M. Backlog totaled $46.3M versus $38.1M a year earlier, signaling healthy demand momentum in its core aerospace business.
Competitive Landscape
Pro stress-test →Butler National competes in niche aerospace aftermarket segments including special mission modifications, avionics integration, and aircraft maintenance. Direct competitors include regional aerospace suppliers and aircraft modification shops. The Professional Services gaming segment operates independently in the regional casino market.
Industry Context
Butler National Corporation operates in Aerospace and Defense.
Key facts
Founded: 1960 · Headquarters: Olathe, Kansas, US · Employees: 361 · Revenue: $23.25M (Q2 FY2026) · Market cap: $163.8M–$236.81M