AirBoss of America

BOS.TO

Chemicals - Specialty · Basic Materials

Price

C$8.59

-0.26 (-2.94%)

Market Cap

C$233.4M

Exchange

Toronto Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

Dividends

Weak

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Share count falling — buybacks

−4.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 28.3M (2021) → 27.1M (2025)

Winston Score History

The full picture

AirBoss of America is a Canadian company that makes rubber-based products and protective equipment. Its three main business areas are mixing rubber compounds for industrial customers, making rubber parts for cars and trucks, and producing personal protective equipment — like gas masks and chemical-resistant gear — mainly for military and government buyers. The company is one of North America's largest custom rubber compounders.

AirBoss earns revenue by selling these products directly to manufacturers, defense agencies, and government contractors, primarily across Canada and the United States. Its rubber compounding scale and long-term defense contracts provide some competitive stability, though the defense segment has faced uneven demand after a surge in government PPE spending during the COVID-19 pandemic faded. The key challenge going forward is rebuilding consistent revenue in its defense division while keeping margins healthy in its lower-margin industrial rubber businesses, where raw material costs can squeeze profitability quickly.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+9.7% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$4M/ year

↑ Rising (+11% vs prior year)

0.9% of revenue

Below sector average (3%)

R&D investment increasing — building for the future

Insider Activity

33.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~12 months

$8M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Growth context

AirBoss of America is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

17.4%

Thin — 17.4% gross margin

Profit after running costs

Operating Margin

5.4%

Thin — 5.4% operating margin

Return on the money invested

ROCE

6.6%

Weak — 6.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+6.0%

Slow sales growth (+6.0% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

4.8%

Thin free cash flow (4.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.74

Moderate — manageable debt (0.74)

Covers its interest

Interest Cover

1.63x

Dangerous — barely covers interest (1.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

1.86%

Small dividend — 1.86% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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