(AIRJ) Montana Technologies - Overview
Sector: Industrials | Industry: Building Products & Equipment | Exchange: NASDAQ (USA) | Market Cap: 299m USD | Total Return: 13.7% in 12m
Avg Turnover: 2.90M
Warnings
Share dilution 17.6% YoY
Interest Coverage Ratio -0.1 is critical
Tailwinds
No distinct edge detected
Montana Technologies Corporation, operating under the ticker AIRJ, is a Montana-based industrial technology firm specializing in atmospheric water harvesting and energy-efficient climate control. The company utilizes its proprietary AirJoule technology to develop systems for dehumidification, evaporative cooling, and water recapture. Its product portfolio targets diverse applications including data center cooling, moisture control, and atmospheric water generation.
The company operates within the industrial machinery sector, focusing on decentralized water production and thermal management solutions. This business model leverages metal-organic frameworks (MOFs) to extract water vapor from the air with significantly lower energy requirements than traditional refrigerant-based desiccant systems. As global water scarcity increases, the atmospheric water generation market is projected to see sustained demand from both industrial and humanitarian sectors.
Investors looking for deeper technical analysis and valuation metrics should consult ValueRay for further insights. Montana Technologies transitioned to the public market via a SPAC merger in early 2024, positioning itself as a micro-cap player in the renewable energy and water infrastructure space.
- Commercialization of AirJoule technology through strategic joint venture partnerships
- Scaling manufacturing capacity for atmospheric water harvesting and cooling units
- Adoption of energy-efficient dehumidification systems within hyperscale data centers
- Capital requirements and cash burn rate prior to achieving profitability
| Net Income: error (cannot be calculated; needs Net Income TTM and Revenue TTM) |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA 2.14 > 1.0 |
| NWC/Revenue: error (cannot be calculated; needs Current Assets/Liabilities and Revenue current+prev) |
| CFO/TA -0.03 > 3% & CFO -8.05m > Net Income -73.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 23.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (67.2m) vs 12m ago 17.58% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 0.0% > 50% (prev 0.03%; Δ -0.03% > 0%) |
| Interest Coverage Ratio: -0.13 > 6 (EBITDA TTM -12.3m / Interest Expense TTM 92.8m) |
| A: 0.11 (Total Current Assets 32.8m - Total Current Liabilities 1.41m) / Total Assets 296.5m |
| B: 0.47 (Retained Earnings 139.7m / Total Assets 296.5m) |
| C: -0.04 (EBIT TTM -12.3m / Avg Total Assets 331.0m) |
| D: 2.53 (Book Value of Equity 139.7m / Total Liabilities 55.2m) |
| Altman-Z'' = 4.64 = AA |
As of May 30, 2026, the stock is trading at USD 4.49 with a total of 1,960,998 shares traded.
Over the past week, the price has changed by +13.96%,
over one month by +49.17%,
over three months by +39.01% and
over the past year by +13.67%.
Montana Technologies has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy AIRJ.
- StrongBuy: 1
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 8.2 | 81.5% |
P/E Forward = 33.67
P/B = 1.2374
Revenue TTM = 0.0 USD
EBIT TTM = -12.3m USD
EBITDA TTM = -12.3m USD
Long Term Debt = 80.5k USD (estimated: total debt 116k - short term 35.2k)
Short Term Debt = 35.2k USD (from shortTermDebt, last quarter)
Debt = 116k USD (from shortLongTermDebtTotal, last quarter) (leases 116k already included)
Net Debt = -31.0m USD (calculated: Debt 116k - CCE 31.1m)
Enterprise Value = 268.2m USD (299.2m + Debt 116k - CCE 31.1m)
Interest Coverage Ratio = -0.13 (Ebit TTM -12.3m / Interest Expense TTM 92.8m)
EV/FCF = -33.18x (Enterprise Value 268.2m / FCF TTM -8.09m)
FCF Yield = -3.01% (FCF TTM -8.09m / Enterprise Value 268.2m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 36.5k) / Revenue TTM)
Tobins Q-Ratio = 0.90 (Enterprise Value 268.2m / Total Assets 296.5m)
Interest Expense / Debt = 80.2k% (Interest Expense 92.8m / Debt 116k)
Taxrate = 21.0% (US default 21%)
NOPAT = -9.71m (EBIT -12.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 23.23 (Total Current Assets 32.8m / Total Current Liabilities 1.41m)
Debt / Equity = 0.00 (Debt 116k / totalStockholderEquity, last quarter 241.3m)
Debt / EBITDA = 2.53 (negative EBITDA) (Net Debt -31.0m / EBITDA -12.3m)
Debt / FCF = 3.83 (negative FCF - burning cash) (Net Debt -31.0m / FCF TTM -8.09m)
Total Stockholder Equity = 271.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -22.28% (Net Income -73.7m / Total Assets 296.5m)
RoE = -27.21% (Net Income TTM -73.7m / Total Stockholder Equity 271.0m)
RoCE = -4.53% (EBIT -12.3m / Capital Employed (Equity 271.0m + L.T.Debt 80.5k))
RoIC = -3.68% (negative operating profit) (NOPAT -9.71m / Invested Capital 264.0m)
WACC = 7.66% (E(299.2m)/V(299.3m) * Re(7.66%) + (debt cost/tax rate unavailable))
Discount Rate = 7.66% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 80.90 | Cagr: 32.60%
[DCF] Fair Price = unknown (Cash Flow -8.09m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -2.86 | # QB: -2
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: 0.0 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.07 | Chg30d=+0.00% | Revisions=N/A | Analysts=3
EPS next Quarter (2026-09-30): EPS=-0.07 | Chg30d=+4.71% | Revisions=N/A | Analysts=3
EPS current Year (2026-12-31): EPS=-0.25 | Chg30d=+6.19% | Revisions=N/A | GrowthEPS=-68.9% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=-0.30 | Chg30d=-5.96% | Revisions=+20% | GrowthEPS=-17.1% | GrowthRev=+1410.5%
[Analyst] Revisions Ratio: +20%