Loading…
Space company launching small/medium rockets (Alpha) and building lunar landers (Blue Ghost) for commercial and government customers.
Space company launching small/medium rockets (Alpha) and building lunar landers (Blue Ghost) for commercial and government customers.
Earns from fixed-price contracts, with a customer paying per launch or per delivered lunar mission, rather than from steady unit sales, so cash comes in lumps tied to milestones and flights. Private-equity firm AE Industrial Partners backs it, and it listed in 2025. It is developing a larger rocket, Eclipse, with Northrop Grumman.
Moat: narrow (regulatory licence, IP / patents). Flight-proven launch vehicle and NASA lunar contracts are costly and slow for new entrants to match.
Headquarters: Cedar Park, Texas, US · Founded: 2014 · Employees: 1,409
Size Firefly Aerospace (FLY) is a United States Industrials company (Aerospace & Defense) with a market value of $3.48B, the 1440th largest of 3,117 United States companies the cockpit tracks. Shares closed at $20.76 on 6 Nov 2026.
Performance Over six months the shares fell 47.7%, against -14.9% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 179.2% over the last twelve months (peer median -0.5%); the operating margin is -116.4% (peer median 1.7%).
Valuation It trades at 10.1× enterprise value to sales against a peer median of 4.7× (6th most expensive of 21).
Capital Return on invested capital runs 50.1 points below its cost of capital (9.0% WACC).
Backlog Backlog (remaining performance obligations) was $564M at 30 Jun 2026, up 4% on a year earlier — 2.0 years of trailing revenue. Backlog detail →
Short interest Short interest is 8.1% of the free float (15 Oct 2026).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | $287M | $160M | $60.8M | $55.2M |
| Revenue growth | — | +163% | +10% | — |
| Gross profit | $47.3M | $24.9M | -$11.4M | $26.6M |
| EBITDA | -$288M | -$222M | -$195M | -$127M |
| Net income | -$363M | -$298M | -$231M | -$135M |
| Free cash flow | -$326M | -$238M | -$190M | -$171M |
| Capital expenditure | $62.1M | $32.8M | $32.7M | $77.2M |
| Total debt | $53.4M | $309M | $168M | $121M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Firefly Aerospace FLY | $3.48B | -48% | +179% | -116% | 10.1× | n/a |
| Rocket Lab RKLB | $31.8B | -50% | +53% | -29% | 38.5× | n/a |
| Intuitive Machines LUNR | $2.40B | -64% | +117% | -20% | 7.5× | n/a |
| Space Exploration Technologies SPCX | $1.82T | n/a | +33% | -11% | 94.9× | n/a |
| ispace,inc 9348.T | $311M | -28% | -56% | -681% | 23.0× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FLY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.4% | -0.2% | 9th highest of 21 |
| 6-month return | -47.7% | -14.9% | lowest of 21 |
| Distance from 52-week high | -66.6% | -39.4% | lowest of 21 |
| Revenue growth (TTM) | +179.2% | -0.5% | highest of 20 |
| Operating margin | -116.4% | 1.7% | 2nd lowest of 21 |
| EV / Sales | 10.1× | 4.7× | 6th most expensive of 21 |
| ROIC minus cost of capital | -50.1 pp | -4.6 pp | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Firefly Aerospace FLY | United States | $3.48B | -48% | +179% | -116% | 10.1× | n/a | n/a |
| QinetiQ QQ..L | United Kingdom | $3.51B | +26% | 0% | 10% | 1.4× | 0.1% | +8.5% |
| Archer Aviation ACHR | United States | $3.42B | -31% | n/a | -13,570% | 289.8× | n/a | n/a |
| Baimtec Material 688563.SS | China | $3.53B | -12% | -1% | 15% | 6.9× | 22.7% | +14.4% |
| Avicopter 600038.SS | China | $3.54B | -8% | -6% | 1% | 0.8× | 9.1% | +8.1% |
| AECC Aero-engine Control 000738.SZ | China | $3.66B | -10% | -3% | 3% | 4.5× | n/a | n/a |
| Lisi FII.PA | France | $3.27B | 0% | -8% | 10% | 1.9× | 20.4% | +7.3% |
| Inner Mongolia First Machinery 600967.SS | China | $3.22B | -10% | -7% | 0% | 2.0× | 38.2% | -5.4% |
| Jiangxi Hongdu Aviation Industry 600316.SS | China | $3.77B | -4% | +62% | 0% | 2.8× | 53.4% | +8.0% |
| Anhui GreatWall Military Industry 601606.SS | China | $3.20B | -22% | -10% | -7% | 15.7× | n/a | n/a |
| RENK R3NK.DE | Germany | $3.84B | -24% | +11% | 13% | 2.8× | 29.8% | +54.5% |
| AviChina Industry & Technology 2357.HK | Hong Kong | $3.11B | -13% | +2% | 5% | 0.9× | n/a | n/a |
| Avic (Chengdu) UAS 688297.SS | China | $3.93B | -15% | +74% | 0% | 7.3× | n/a | n/a |
| Bharat Dynamics BDL.NS | India | $4.12B | -28% | -19% | 10% | 14.1× | n/a | n/a |
| North Industries Group Red Arrow 000519.SZ | China | $2.88B | -22% | +100% | 1% | 1.5× | 23.0% | +7.5% |
| Aar AIR | United States | $4.39B | -7% | +22% | 9% | 1.5× | 13.2% | +14.9% |
| Sai MicroElectronics 300456.SZ | China | $2.75B | -45% | -59% | -99% | 42.5× | 41.7% | +1.5% |
| Mercury Systems MRCY | United States | $4.48B | -19% | +8% | 2% | 4.8× | 59.6% | +1.3% |
| North Navigation Control Technology 600435.SS | China | $2.65B | -19% | -32% | -5% | 5.7× | 17.1% | +6.8% |
| Aerospace CH UAV 002389.SZ | China | $2.64B | -17% | +3% | 0% | 6.0× | n/a | n/a |
| Nanchang Sanrui Intelligence Technology 301696.SZ | China | $4.87B | -14% | +29% | 45% | 28.9× | 36.1% | +43.7% |
Firefly Aerospace reported $564M of remaining performance obligations at 30 Jun 2026, up 4% from a year earlier and down 14% from the previous quarter. That is 2.0 years of trailing revenue already under contract. Book-to-bill last quarter: 0.24.