AMREP Corp (AXR) is fairly valued and Sky Harbour Group Corp (SKYH) is overvalued.
Both trade above our estimate of their intrinsic value. AXR is the closer of the two: -0%, against -880% for SKYH.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.5% (average of 3 methods) values the shares at $22.59; the price of $22.60 sits right on that value, and 71% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
A 2.5x revenue multiple, discounted for its losses, values the shares at $1.03; the price of $10.10 is 880% above that value.
Leak Score 16/100 on 6 of 12 signals
| Metric | AXR | SKYH |
|---|---|---|
| Verdict | Fairly valued | Overvalued |
| Price | $22.60 | $10.10 |
| Intrinsic value | $22.59 | $1.03 |
| Margin of safety | -0% | -880% |
| Leak Score | 0/100 (2/12) | 16/100 (6/12) |
| Market cap | $120M | $824M |
| Revenue growth, 5 years | 5.7% | — |
| Operating margin | 14.8% | -80.8% |
| Net margin | 14.3% | 2.7% |
| Return on equity | 4.3% | 0.8% |
| Debt to equity | 0.00 | 4.81 |
| P/E | 20.7x | — |
| Forward P/E | 16.4x | — |
| P/B | 0.8x | 2.8x |