Intuitive Machines, Inc. (LUNR) vs V2X, Inc. (VVX)

Intuitive Machines, Inc. and V2X, Inc. are both Aerospace & Defense companies. Intuitive Machines, Inc. is the larger, with a market value of $3.7B against $2.4B — 1.5× the size. Intuitive Machines, Inc. has negative trailing earnings, so its P/E is not meaningful; V2X, Inc. trades at 26.0×. Intuitive Machines, Inc. grew revenue faster over the last twelve months: 116.9% against 13.0%. V2X, Inc. has the higher net margin (1.88% vs −26.8%) and the higher return on invested capital (6.51% vs 0.00%). Across the 16 metrics below, V2X, Inc. leads on 11 and Intuitive Machines, Inc. on 5.

Valuation

Metric LUNR VVX Aerospace & Defense median
P/E n/m 25.96 33.00
P/S 5.17 0.49 3.63
P/B n/m 2.10 3.24
Price to free cash flow n/m 16.99 34.01
EV/EBITDA n/m 9.91 18.69
EV/Sales 5.08 0.66 3.94
Earnings yield (6.09%) 3.85% 1.31%
Free cash flow yield (7.42%) 5.88% 0.00%

Profitability

Metric LUNR VVX Aerospace & Defense median
Gross margin 16.35% 8.47% 25.48%
Operating margin (27.51%) 4.19% 4.54%
Net margin (26.77%) 1.88% 2.22%
Free cash flow margin (38.31%) 2.86% 0.00%
Return on equity 39.21% 8.35% 6.43%
Return on assets (11.10%) 2.90% 2.70%
Return on invested capital 0.00% 6.51% 1.56%

Growth

Metric LUNR VVX Aerospace & Defense median
Revenue growth (TTM) 116.89% 12.99% 18.43%
EPS growth (last fiscal year) 84.23% 126.85% —
Revenue growth, 5-year CAGR — 26.27% 9.62%
Net income growth, 5-year CAGR — 16.08% 0.00%

Health

Metric LUNR VVX Aerospace & Defense median
Debt to equity (1.16) 0.92 0.24
Current ratio 1.66 1.32 2.72
Net debt to EBITDA 3.02 2.28 1.12

Dividend

Metric LUNR VVX Aerospace & Defense median
Dividend yield — — 1.04%
Payout ratio — 0.00 0.00

Size

Metric LUNR VVX Aerospace & Defense median
Market cap 3.66b 2.39b 2.52b

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