Firefly Aerospace, Inc. (FLY) vs Intuitive Machines, Inc. (LUNR)

Firefly Aerospace, Inc. and Intuitive Machines, Inc. are both Aerospace & Defense companies. Firefly Aerospace, Inc. is the larger, with a market value of $2.5B against $2.0B — 1.3× the size. Firefly Aerospace, Inc. grew revenue faster over the last twelve months: 179.2% against 116.9%. Intuitive Machines, Inc. has the higher net margin (−26.8% vs −129.1%) and the higher return on invested capital (0.00% vs −34.8%). Across the 16 metrics below, Intuitive Machines, Inc. leads on 11 and Firefly Aerospace, Inc. on 5.

Valuation

Metric FLY LUNR Aerospace & Defense median
P/E n/m n/m 29.42
P/S 11.74 3.47 3.05
P/B 2.76 n/m 2.91
Price to free cash flow n/m n/m 29.52
EV/EBITDA n/m n/m 17.23
EV/Sales 9.60 3.39 3.25
Earnings yield (14.11%) (9.06%) 0.95%
Free cash flow yield (9.68%) (11.04%) 0.00%

Profitability

Metric FLY LUNR Aerospace & Defense median
Gross margin 22.92% 16.35% 26.41%
Operating margin (117.99%) (27.51%) 3.69%
Net margin (129.06%) (26.77%) 2.74%
Free cash flow margin (113.66%) (38.31%) 0.73%
Return on equity (242.95%) 39.21% 5.39%
Return on assets (35.18%) (11.10%) 2.18%
Return on invested capital (34.77%) 0.00% 0.64%

Growth

Metric FLY LUNR Aerospace & Defense median
Revenue growth (TTM) 179.17% 116.89% 18.03%
EPS growth (last fiscal year) 76.71% 84.23% 24.80%
Revenue growth, 5-year CAGR — — 9.73%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric FLY LUNR Aerospace & Defense median
Debt to equity 0.02 (1.16) 0.18
Current ratio 2.73 1.66 2.85
Net debt to EBITDA 2.57 3.02 1.29

Dividend

Metric FLY LUNR Aerospace & Defense median
Dividend yield — — 0.89%
Payout ratio — — 0.30

Size

Metric FLY LUNR Aerospace & Defense median
Market cap 2.54b 1.97b 1.52b

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