Park Aerospace Corp. (PKE) vs Virgin Galactic Holdings, Inc. (SPCE)

Park Aerospace Corp. and Virgin Galactic Holdings, Inc. are both Aerospace & Defense companies. Park Aerospace Corp. is the larger, with a market value of $578.8M against $391.1M — 1.5× the size. Virgin Galactic Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Park Aerospace Corp. trades at 36.5×. Park Aerospace Corp. grew revenue faster over the last twelve months: 27.7% against −38.9%. Park Aerospace Corp. has the higher net margin (18.4% vs −23,867.4%) and the higher return on invested capital (22.1% vs −48.9%). Across the 19 metrics below, Park Aerospace Corp. leads on 16 and Virgin Galactic Holdings, Inc. on 3.

Valuation

Metric PKE SPCE Aerospace & Defense median
P/E 36.54 n/m 31.81
P/S 7.09 259.29 3.55
P/B 3.51 0.68 2.59
Price to free cash flow 49.93 n/m 31.99
EV/EBITDA 27.89 n/m 18.08
EV/Sales 6.53 194.66 3.37
Earnings yield 2.74% (139.09%) 1.38%
Free cash flow yield 2.00% (143.59%) 0.21%

Profitability

Metric PKE SPCE Aerospace & Defense median
Gross margin 32.68% 100.00% 25.48%
Operating margin 21.06% (24,804.53%) 4.54%
Net margin 18.43% (23,867.44%) 2.22%
Free cash flow margin 14.21% (37,231.31%) 1.43%
Return on equity 11.06% (75.13%) 6.43%
Return on assets 10.19% (28.89%) 2.70%
Return on invested capital 22.12% (48.91%) 1.56%

Growth

Metric PKE SPCE Aerospace & Defense median
Revenue growth (TTM) 27.71% (38.87%) 18.43%
EPS growth (last fiscal year) 93.10% 60.84% 24.27%
Revenue growth, 5-year CAGR 9.64% 45.35% 9.73%
Net income growth, 5-year CAGR 18.30% 0.00% 0.00%

Health

Metric PKE SPCE Aerospace & Defense median
Debt to equity 0.00 0.55 0.24
Current ratio 22.75 1.62 2.72
Net debt to EBITDA (5.82) 0.05 1.12

Dividend

Metric PKE SPCE Aerospace & Defense median
Dividend yield 1.90% — 0.90%
Payout ratio 0.69 — 0.32

Size

Metric PKE SPCE Aerospace & Defense median
Market cap 578.76m 391.12m 2.19b

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