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VIRGIN GALACTIC HOLDINGS INC (SPCE) Stock Fundamental Analysis

NYSE:SPCE - New York Stock Exchange, Inc. - US92766K4031 - Common Stock - Currency: USD

2.84  -0.11 (-3.73%)

After market: 2.86 +0.02 (+0.7%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to SPCE. SPCE was compared to 65 industry peers in the Aerospace & Defense industry. While SPCE seems to be doing ok healthwise, there are quite some concerns on its profitability. SPCE is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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0

1. Profitability

1.1 Basic Checks

SPCE had negative earnings in the past year.
SPCE had a negative operating cash flow in the past year.
SPCE had negative earnings in each of the past 5 years.
In the past 5 years SPCE always reported negative operating cash flow.
SPCE Yearly Net Income VS EBIT VS OCF VS FCFSPCE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 -200M -400M -600M

1.2 Ratios

The Return On Assets of SPCE (-36.07%) is worse than 76.92% of its industry peers.
SPCE has a worse Return On Equity (-107.59%) than 75.38% of its industry peers.
Industry RankSector Rank
ROA -36.07%
ROE -107.59%
ROIC N/A
ROA(3y)-40.85%
ROA(5y)-47.15%
ROE(3y)-103.71%
ROE(5y)-94.59%
ROIC(3y)N/A
ROIC(5y)N/A
SPCE Yearly ROA, ROE, ROICSPCE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 0 -20 -40 -60 -80 -100

1.3 Margins

SPCE does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
SPCE Yearly Profit, Operating, Gross MarginsSPCE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 0 -50K -100K -150K -200K -250K

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4

2. Health

2.1 Basic Checks

SPCE does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for SPCE has been increased compared to 1 year ago.
SPCE has less shares outstanding than it did 5 years ago.
The debt/assets ratio for SPCE is higher compared to a year ago.
SPCE Yearly Shares OutstandingSPCE Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
SPCE Yearly Total Debt VS Total AssetsSPCE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

Based on the Altman-Z score of -4.18, we must say that SPCE is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of -4.18, SPCE is not doing good in the industry: 89.23% of the companies in the same industry are doing better.
A Debt/Equity ratio of 1.30 is on the high side and indicates that SPCE has dependencies on debt financing.
With a Debt to Equity ratio value of 1.30, SPCE is not doing good in the industry: 81.54% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.3
Debt/FCF N/A
Altman-Z -4.18
ROIC/WACCN/A
WACC5.03%
SPCE Yearly LT Debt VS Equity VS FCFSPCE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M 600M 800M

2.3 Liquidity

SPCE has a Current Ratio of 4.19. This indicates that SPCE is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of SPCE (4.19) is better than 86.15% of its industry peers.
A Quick Ratio of 4.19 indicates that SPCE has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 4.19, SPCE belongs to the top of the industry, outperforming 95.38% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 4.19
Quick Ratio 4.19
SPCE Yearly Current Assets VS Current LiabilitesSPCE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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6

3. Growth

3.1 Past

SPCE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 59.08%, which is quite impressive.
Looking at the last year, SPCE shows a small growth in Revenue. The Revenue has grown by 3.49% in the last year.
Measured over the past years, SPCE shows a quite strong growth in Revenue. The Revenue has been growing by 13.23% on average per year.
EPS 1Y (TTM)59.08%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%51.35%
Revenue 1Y (TTM)3.49%
Revenue growth 3Y28.84%
Revenue growth 5Y13.23%
Sales Q2Q%-84.73%

3.2 Future

Based on estimates for the next years, SPCE will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.72% on average per year.
SPCE is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 170.64% yearly.
EPS Next Y25.97%
EPS Next 2Y23.98%
EPS Next 3Y22.83%
EPS Next 5Y15.72%
Revenue Next Year-76.12%
Revenue Next 2Y266.04%
Revenue Next 3Y285.74%
Revenue Next 5Y170.64%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
SPCE Yearly Revenue VS EstimatesSPCE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 200M 400M 600M 800M 1B
SPCE Yearly EPS VS EstimatesSPCE Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 -10 -20 -30

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1

4. Valuation

4.1 Price/Earnings Ratio

SPCE reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for SPCE. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
SPCE Price Earnings VS Forward Price EarningsSPCE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
SPCE Per share dataSPCE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 -10

4.3 Compensation for Growth

A more expensive valuation may be justified as SPCE's earnings are expected to grow with 22.83% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y23.98%
EPS Next 3Y22.83%

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0

5. Dividend

5.1 Amount

No dividends for SPCE!.
Industry RankSector Rank
Dividend Yield N/A

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VIRGIN GALACTIC HOLDINGS INC

NYSE:SPCE (5/6/2025, 7:52:19 PM)

After market: 2.86 +0.02 (+0.7%)

2.84

-0.11 (-3.73%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)02-26 2025-02-26/amc
Earnings (Next)05-15 2025-05-15/amc
Inst Owners40.15%
Inst Owner Change-72.78%
Ins Owners0.49%
Ins Owner Change0%
Market Cap115.93M
Analysts50.67
Price Target9 (216.9%)
Short Float %26.67%
Short Ratio5.49
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)28.42%
Min EPS beat(2)20.56%
Max EPS beat(2)36.28%
EPS beat(4)4
Avg EPS beat(4)27.06%
Min EPS beat(4)15.12%
Max EPS beat(4)36.28%
EPS beat(8)7
Avg EPS beat(8)20.48%
EPS beat(12)7
Avg EPS beat(12)8.34%
EPS beat(16)8
Avg EPS beat(16)-0.85%
Revenue beat(2)0
Avg Revenue beat(2)-81.6%
Min Revenue beat(2)-82.35%
Max Revenue beat(2)-80.85%
Revenue beat(4)1
Avg Revenue beat(4)-61.02%
Min Revenue beat(4)-82.35%
Max Revenue beat(4)1.48%
Revenue beat(8)2
Avg Revenue beat(8)-36.59%
Revenue beat(12)6
Avg Revenue beat(12)66.27%
Revenue beat(16)8
Avg Revenue beat(16)46.1%
PT rev (1m)0%
PT rev (3m)-18.75%
EPS NQ rev (1m)0%
EPS NQ rev (3m)14.33%
EPS NY rev (1m)0%
EPS NY rev (3m)8.49%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-92.5%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-16.23%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 16.48
P/FCF N/A
P/OCF N/A
P/B 0.36
P/tB 0.36
EV/EBITDA N/A
EPS(TTM)-12.85
EYN/A
EPS(NY)-9.51
Fwd EYN/A
FCF(TTM)-11.63
FCFYN/A
OCF(TTM)-8.64
OCFYN/A
SpS0.17
BVpS7.9
TBVpS7.9
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -36.07%
ROE -107.59%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM N/A
ROA(3y)-40.85%
ROA(5y)-47.15%
ROE(3y)-103.71%
ROE(5y)-94.59%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score2
Asset Turnover0.01
Health
Industry RankSector Rank
Debt/Equity 1.3
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 787.84%
Cap/Sales 1731.88%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 4.19
Quick Ratio 4.19
Altman-Z -4.18
F-Score2
WACC5.03%
ROIC/WACCN/A
Cap/Depr(3y)422.61%
Cap/Depr(5y)296.8%
Cap/Sales(3y)1032.44%
Cap/Sales(5y)2081.01%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)59.08%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%51.35%
EPS Next Y25.97%
EPS Next 2Y23.98%
EPS Next 3Y22.83%
EPS Next 5Y15.72%
Revenue 1Y (TTM)3.49%
Revenue growth 3Y28.84%
Revenue growth 5Y13.23%
Sales Q2Q%-84.73%
Revenue Next Year-76.12%
Revenue Next 2Y266.04%
Revenue Next 3Y285.74%
Revenue Next 5Y170.64%
EBIT growth 1Y28.55%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year31.75%
EBIT Next 3Y28.73%
EBIT Next 5Y26.38%
FCF growth 1Y3.64%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y21.31%
OCF growth 3YN/A
OCF growth 5YN/A