Wednesday 4 November 2026
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MDA Space Ltd.
MDA Industrials Aerospace & Defense
MDA Space Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 48.3% from fiscal 2024.
- Revenue
- +33.4%
- EPS
- −12.3%
- Free cash flow
- −1,555.8%
- Total debt
- −3.38%
Quarter to June 2026, against a year earlier
26.23
1.09
−3.99%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | — | 788 | 1,169 | 1,353 | +48.3% | 1,876 | 2,838 | 3,149 | +39.1% | |
| Gross margin, % | — | — | — | — | — | — | — | — | 26.08 | 25.09 | 25.43 | (1.0) pt | ||||||
| EBT | — | — | — | — | — | — | — | — | 81 | 109 | 112 | +34.6% | ||||||
| EBT margin, % | — | — | — | — | — | — | — | — | 10.28 | 9.33 | 8.26 | (1.0) pt | ||||||
| Net income | — | — | — | — | — | — | — | — | 58 | 78 | 76 | +34.0% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | — | 6.56 | 9.41 | 9.74 | +43.3% | |||||
| Earnings | — | — | — | — | — | — | — | — | 0.48 | 0.61 | 0.59 | +27.4% | ||||||
| Cash flow | — | — | — | — | — | — | — | — | 4.96 | 2.35 | 0.27 | (52.6%) | ||||||
| Capex | — | — | — | — | — | — | — | — | (1.18) | (1.59) | (1.52) | +34.9% | ||||||
| Free cash flow | — | — | — | — | — | — | — | — | 3.78 | 0.76 | (1.26) | (79.8%) | ||||||
| Book value | — | — | — | — | — | — | — | — | 7.15 | 7.81 | 9.84 | +9.2% | ||||||
| Shares, m | — | — | — | — | — | — | — | — | 120 | 124 | 129 | +3.5% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | 31.05 | 31.05 | 46.46 | 31.0 | |||||
| P/S | — | — | — | — | — | — | — | — | 0.00 | 2.06 | 2.80 | 1.0 | ||||||
| P/B | — | — | — | — | — | — | — | — | 0.00 | 2.49 | 2.78 | 1.2 | ||||||
| EV/Sales | — | — | — | — | — | — | — | — | 0.00 | 2.21 | 2.78 | 1.1 | ||||||
| EV/FCF | — | — | — | — | — | — | — | — | 0.00 | 27.26 | (21.54) | 13.6 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | — | 595 | 292 | 37 | (51.0%) | |||||
| Capex | — | — | — | — | — | — | — | — | (141) | (197) | (212) | +39.5% | ||||||
| Free cash flow | — | — | — | — | — | — | — | — | 454 | 95 | (175) | (79.1%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | — | (339) | (503) | (222) | +48.5% | |||||
| Net debt | — | — | — | — | — | — | — | — | (34) | 171 | (28) | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | — | 858 | 970 | 1,366 | +13.0% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | — | 0.00 | 3.61 | 3.07 | +3.6 pt | |||||
| ROIC | — | — | — | — | — | — | — | — | 5.91 | 6.19 | 5.05 | +0.3 pt | ||||||
| ROE | — | — | — | — | — | — | — | — | 0.00 | 8.50 | 6.70 | +8.5 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | 4,800 | 4,800 | — | 0.0% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | — | 0.16 | 0.24 | — | +48.3% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
MDA Space Ltd. vs peers in Aerospace & Defense (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| BETA BETA Technologies, Inc. | $5.5B | — (loss-making) | — (loss-making) | +98.16% (above 0%: growing) | n/m | −71.45% (below 0%: shrinking) | 72.09% | (723.20%) | Compare |
| KRMN Karman Holdings Inc. | $5.2B | 136× | 80.9× | +58.18% (above 0%: growing) | +120.00% (above 0%: growing) | +17.67% (above 0%: growing) | 42.97% | 19.13% | Compare |
| PL Planet Labs PBC | $4.9B | — (loss-making) | — (loss-making) | +58.14% (above 0%: growing) | n/m | −48.55% (below 0%: shrinking) | 56.55% | (11.64%) | Compare |
| MRCY Mercury Systems Inc | $4.9B | — (loss-making) | 152× | +6.11% (above 0%: growing) | −94.79% (below 0%: shrinking) | −15.93% (below 0%: shrinking) | 30.57% | 4.99% | Compare |
| DPC DPC Holdings PLC | $4.7B | — | — | — | n/m | — | 25.83% | (44.73%) | Compare |
| VSEC VSE Corporation | $4.6B | 58.8× | 36.8× | +65.04% (above 0%: growing) | +513.33% (above 0%: growing) | +217.04% (above 0%: growing) | 17.02% | 10.90% | Compare |
| MDA MDA Space Ltd. | $4.4B | 46.5× | 49.5× | +33.44% (above 0%: growing) | −12.34% (below 0%: shrinking) | −1,555.78% (below 0%: shrinking) | 25.25% | 6.14% | |
| AIR AAR Corp. | $4.4B | 22.2× | 19.7× | +24.12% (above 0%: growing) | +5.21% (above 0%: growing) | +182.09% (above 0%: growing) | 19.20% | 7.85% | Compare |
| MOG.B Moog Inc. | $3.7B | 29.4× | — | +15.16% (above 0%: growing) | +153.97% (above 0%: growing) | +67.52% (above 0%: growing) | 31.10% | 14.41% | Compare |
| Median of peers | $4.8B | 44.1× | 58.9× | +58.14% | +120.00% | +17.67% | 30.84% | 6.42% |
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