Firefly Aerospace, Inc. (FLY) vs Moog Inc. (MOG.B)

Firefly Aerospace, Inc. and Moog Inc. are both Aerospace & Defense companies. Firefly Aerospace, Inc. and Moog Inc. are of similar size ($3.9B and $3.7B). Firefly Aerospace, Inc. has negative trailing earnings, so its P/E is not meaningful; Moog Inc. trades at 33.0×. Firefly Aerospace, Inc. grew revenue faster over the last twelve months: 179.2% against 15.8%. Moog Inc. has the higher net margin (8.73% vs −129.1%) and the higher return on invested capital (10.5% vs −34.8%). Across the 17 metrics below, Moog Inc. leads on 12 and Firefly Aerospace, Inc. on 5.

Valuation

Metric FLY MOG.B Aerospace & Defense median
P/E n/m 33.00 33.00
P/S 13.73 2.88 3.63
P/B 3.22 5.60 3.24
Price to free cash flow n/m 35.21 34.01
EV/EBITDA n/m 21.03 18.69
EV/Sales 11.59 3.08 3.94
Earnings yield (12.07%) 3.03% 1.31%
Free cash flow yield (8.28%) 2.84% 0.00%

Profitability

Metric FLY MOG.B Aerospace & Defense median
Gross margin 22.92% 28.20% 25.48%
Operating margin (117.99%) 11.93% 4.54%
Net margin (129.06%) 8.73% 2.22%
Free cash flow margin (113.66%) 8.18% 0.00%
Return on equity (242.95%) 18.11% 6.43%
Return on assets (35.18%) 8.23% 2.70%
Return on invested capital (34.77%) 10.52% 1.56%

Growth

Metric FLY MOG.B Aerospace & Defense median
Revenue growth (TTM) 179.17% 15.81% 18.43%
EPS growth (last fiscal year) 73.21% 14.53% —
Revenue growth, 5-year CAGR — 6.00% 9.62%
Net income growth, 5-year CAGR — 91.17% 0.00%

Health

Metric FLY MOG.B Aerospace & Defense median
Debt to equity 0.02 0.41 0.24
Current ratio 2.73 2.09 2.72
Net debt to EBITDA 2.57 1.75 1.12

Dividend

Metric FLY MOG.B Aerospace & Defense median
Dividend yield — 0.93% 1.04%
Payout ratio — 0.21 0.00

Size

Metric FLY MOG.B Aerospace & Defense median
Market cap 3.93b 3.66b 2.52b

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