Madison Air Solutions (MAIR)
Engineered air-quality equipment for commercial facilities, data centers and homes.
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Builds and sells commercial and residential equipment for ventilation, cooling, humidity control, air purification and related applications, earning revenue through systems, parts and service across diverse channels. A decentralized portfolio model combines operating autonomy with centralized capital allocation and procurement.
Combines commercial and residential air-quality businesses, including Nortek Air Solutions, Nortek Data Center Cooling, Big Ass Fans, Reznor, AprilAire, Broan-NuTone and Zephyr. Commercial products include engineered air handlers, cleanroom systems, air, liquid and hybrid data-center cooling, dehumidification, fans, heaters, filtration and controls. Residential products include whole-home, kitchen and bathroom ventilation, humidity control, purification and radon mitigation.
Serves North America through representatives, distributors, dealers, retail, appliance, e-commerce, OEM and direct channels, with facilities in Europe and Asia-Pacific. Equipment, parts and service generate revenue; replacement, upgrade and aftermarket demand supplies much of it.
Uses a decentralized model that keeps decisions near individual businesses and customers while centralizing capital allocation and procurement. Results depend on project execution, data-center investment, construction and replacement cycles, acquisition integration, and evolving product and regulatory requirements. A dual-class structure gives founder-controlled entities voting control through Class B shares.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 31, 2026 | RBC Capital | Reiterate | Rating: —Target: $48 | Target: $38 |
| Jul 31, 2026 | Stifel Nicolaus | Target | Target: $47 | Target: $41 |
| Jul 10, 2026 | Wells Fargo | Reiterate | Rating: —Target: $47 | Target: $46 |
| May 12, 2026 | Jefferies | Target | Target: — | Target: $45 |
| May 11, 2026 | Vertical Research | Target | Target: — | Target: $50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $261.8M · Total debt $3.08B · Total assets $8.35B · Shareholders' equity $3.65B
- Revenue
- $991.3M
- Operating income
- $195.9M
- Net income
- $69.2M
No dividends on record.
| Institutions | 24.52% | 122.87M shares | |
|---|---|---|---|
| 163 holders · as of Jun 30, 2026 | |||
| Other | 75.48% | 378.22M shares | |
| remainder | |||
501.09M company shares as of Aug 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FMR LLCInstitution | 2.81% | 14.08M | as of Jun 30, 2026 |
Durable Capital Partners LPInstitution | 2.03% | 10.20M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 1.56% | 7.80M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 1.50% | 7.50M | as of Jun 30, 2026 |
SCHF (Gpe), LLCInstitution | 1.48% | 7.41M | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Vertiv
Data-center thermal systems overlap air, liquid and hybrid cooling.
- AAON
BASX custom cooling and air handling contest data-center projects.
- Modine
Data-center cooling and commercial HVAC/IAQ overlap across projects.
- Resideo Technologies
Whole-home humidity, IAQ and HVAC controls overlap AprilAire.
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Madison Air Solutions | $25.05 | +0.04% | $12.09B | — | 20.8 | — | — |
| Vertiv | $253.70 | +0.07% | $96.58B | 56.8 | 32.4 | 8.4 | +24.1% |
| AAON | $78.86 | −0.50% | $6.26B | 40.0 | 29.0 | 3.2 | +101.2% |
| Modine | $195.96 | +0.01% | $10.50B | 74.3 | 24.1 | 3.1 | +28.0% |
| Resideo Technologies | $18.88 | −0.05% | $2.86B | 8.0 | 10.6 | 0.4 | +2.0% |
| Median | 48.4 | 26.5 | 3.2 | +26.1% |