your badges 52W Range $16–$62 16% of range Analyst Rating BUY 15 analysts Price Target $39 +66% upside P/E -89.7 ROE -238.4% Net Profit Margin -126.6%

FLY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $23.32
Market Cap (MRQ) $3.88B
P/E (TTM) -89.7
EPS (TTM) $-0.26
Revenue (TTM) $287M
ROE (TTM) -238.4%
Debt/Equity (MRQ) 0.0
52W Range $16–$62

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10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$160M
2023-12-31 → 2025-12-31
EPS$-4.83
2023-12-31 → 2025-12-31
Free Cash Flow$-238M
2025-12-31 → 2025-12-31
Net margin-126.6%
2025-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend FLY 5Y avg Peer Median Verdict
P/E (TTM) -89.7 · · ·
P/S (TTM) 13.5 · 7.7 Overvalued
P/B (MRQ) 3.2 · 4.0 Fair value
EV / EBITDA (TTM) -11.1 · · ·
Price / FCF (TTM) -11.9 · · ·
Price / Cash Flow (TTM) -14.7 · · ·
EV / Revenue (TTM) 11.3 · · ·
EV / FCF (TTM) -9.9 · · ·
Price / Tangible Book (MRQ) 3.6 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise -206.4%
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 11, 2026 $-0.42 $-0.53 20.3%
March 31, 2026 $-0.46 $-0.48 4.8%
Dec. 31, 2025 $-0.38 $-0.47 19.9%
Sept. 30, 2025 $-0.33 $-0.41 18.7%
June 30, 2025 $-5.29 $-0.44 -1095.8%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 17
Metric Trend 202520242023
Revenue $160M$61M$55M
Cost of Revenue $129M$72M$29M
Gross Profit $31M$-11M$27M
R&D Expense $200M$149M$118M
SG&A Expense $91M$47M$41M
Operating Expenses $291M$198M$158M
Operating Income $-261M$-209M$-132M
Interest Income $18M$3M$3M
Other Non-op $894.0K$342.0K$528.0K
Pretax Income $-335M$-231M$-135M
Income Tax $-37M$0$4.0K
Net Income $-298M$-231M$-135M
EPS (Basic) $-4.83$-20.74$-13.05
EPS (Diluted) $-4.83$-20.74$-13.05
Shares (Basic) 69,204,00012,819,00011,977,000
Shares (Diluted) 69,204,00012,819,00011,977,000
EBITDA $-238M··
Balance Sheet 28
Metric Trend 202520242023
Cash & Equivalents $793M$123M$82M
Short-term Investments $100M$0·
Receivables $46M$1M·
Prepaid Expense $12M$52M·
Other Current Assets $8M$3M·
Current Assets $963M$181M·
PP&E (Net) $164M$136M·
PP&E (Gross) $206M$161M·
Accum. Depreciation $42M$26M·
Goodwill $450M$17M$17M
Intangibles $166M$0·
Other Non-current Assets $4M$158.0K·
Total Assets $1.82B$407M·
Accounts Payable $36M$38M·
Accrued Liabilities $43M$14M·
Short-term Debt $7M$6M·
Current Liabilities $214M$179M·
Capital Leases $16M$16M·
Other Non-current Liabilities $17M$26M·
Total Liabilities $635M$415M·
Long-term Debt ·$113M·
Total Debt $7M··
Common Stock $17.0K$1.0K·
Paid-in Capital $2.21B$0·
Retained Earnings $-1.02B$-768M·
Stockholders' Equity $1.19B$-768M$-504M
Liabilities + Equity $1.82B$407M·
Shares Outstanding 159,276,00013,241,00012,410,000
Cash Flow 13
Metric Trend 202520242023
D&A $23M$13M$5M
Stock-based Comp $18M$2M$2M
Deferred Tax $-37M$0$0
Amort. of Intangibles $6M$0$0
Other Non-cash $90M··
Operating Cash Flow $-205M$-158M$-93M
CapEx $33M$33M$77M
Investing Cash Flow $-402M$-33M$-70M
Stock Issued $944M$0$0
Net Stock Activity $944M··
Financing Cash Flow $1.26B$233M$241M
Net Change in Cash $655M$42M$77M
Free Cash Flow $-238M··
Profitability 8
Metric Trend 202520242023
Gross Margin 19.2%··
Operating Margin -163.1%··
Net Margin -186.6%··
Pretax Margin -209.9%··
EBITDA Margin -148.6%··
ROA -26.7%··
ROE -219.4%··
ROIC -19.4%··
Liquidity & Solvency 3
Metric Trend 202520242023
Current Ratio 4.5··
Quick Ratio 4.4··
Debt / Equity 0.0··
Efficiency 2
Metric Trend 202520242023
Asset Turnover 0.1··
Receivables Turnover 6.8··
Per Share 5
Metric Trend 202520242023
Book Value / Share $7.47··
Revenue / Share $2.31··
Cash Flow / Share $-2.96··
Cash / Share $4.98··
EPS (TTM) $-4.83··
Growth Rates 1
Metric Trend 202520242023
Revenue YoY 162.9%10.1%·
Valuation (TTM) 14
Metric Trend 202520242023
Revenue TTM $160M··
Net Income TTM $-298M··
Market Cap $3.56B··
Enterprise Value $2.68B··
P/E -4.6··
P/S 22.3··
P/B 3.0··
P / Tangible Book 6.2··
P / Cash Flow -17.4··
P / FCF -15.0··
EV / EBITDA -11.3··
EV / FCF -11.3··
EV / Revenue 16.7··
Earnings Yield -21.6%··

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-31
Revenue $160M $61M $55M
Gross Margin % 19.2% · ·
Operating Margin % -163.1% · ·
Net Income $-298M $-231M $-135M
Diluted EPS $-4.83 $-20.74 $-13.05

Institutional owners (13F) 290 filers · $2.9B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 290
Value held $2.9B
New positions 97
Exited positions 34
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
97 (-9 vs prior Q) 34 (+7 vs prior Q) 123 (+55 vs prior Q) 37 (+6 vs prior Q) +26.4M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
AE INDUSTRIAL PARTNERS, LP $1,015,199,098 34,530,582 34.73% Shares
BlackRock, Inc. $173,572,602 5,903,830 5.94% Shares
STATE STREET CORP $122,865,393 4,179,095 4.20% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $105,581,221 3,591,198 3.61% Shares
VANGUARD CAPITAL MANAGEMENT LLC $90,292,222 3,071,164 3.09% Shares
VAN ECK ASSOCIATES CORP $89,621,049 3,048,335 3.07% Shares
JPMORGAN CHASE & CO $81,215,493 2,792,070 2.78% Shares
TWO SIGMA INVESTMENTS, LP $79,803,683 2,714,411 2.73% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $58,603,020 1,993,300 2.00% Call option
Phoenix Financial Ltd. $53,295,637 1,812,863 1.82% Shares
CITADEL ADVISORS LLC $50,232,840 1,708,600 1.72% Call option
UBS Group AG $47,801,166 1,625,890 1.64% Shares
JANE STREET GROUP, LLC $46,954,740 1,597,100 1.61% Call option
GEODE CAPITAL MANAGEMENT, LLC $45,573,835 1,550,013 1.56% Shares
JANE STREET GROUP, LLC $44,505,720 1,513,800 1.52% Put option
VANGUARD GROUP INC $43,910,341 1,962,912 1.50% Shares
Capital World Investors $36,426,894 1,239,010 1.25% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $35,185,920 1,196,800 1.20% Put option
MORGAN STANLEY $33,933,303 1,154,194 1.16% Shares
CITADEL ADVISORS LLC $33,516,000 1,140,000 1.15% Put option
Mirae Asset Global Investments Co., Ltd. $30,979,309 1,053,718 1.06% Shares
Marex Group Ltd $28,351,831 964,348 0.97% Shares
Invesco Ltd. $23,784,217 808,987 0.81% Shares
LBP AM SA $22,315,806 759,041 0.76% Shares
GOLDMAN SACHS GROUP INC $18,458,261 627,832 0.63% Shares
RENAISSANCE TECHNOLOGIES LLC $18,160,380 617,700 0.62% Shares
NORTHERN TRUST CORP $16,922,112 575,582 0.58% Shares
Nuveen, LLC $15,083,141 513,032 0.52% Shares
Ghisallo Capital Management LLC $14,700,000 500,000 0.50% Shares
MONETA GROUP INVESTMENT ADVISORS LLC $14,636,849 497,852 0.50% Shares
NEUBERGER BERMAN GROUP LLC $14,393,741 489,583 0.49% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $14,279,903 485,711 0.49% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $13,387,172 455,346 0.46% Shares
VICTORY CAPITAL MANAGEMENT INC $12,874,877 437,921 0.44% Shares
MILLENNIUM MANAGEMENT LLC $12,181,331 414,331 0.42% Shares
D. E. Shaw & Co., Inc. $11,809,980 401,700 0.40% Call option
CAPITAL FUND MANAGEMENT S.A. $11,805,070 401,533 0.40% Shares
Temasek Holdings (Private) Ltd $11,760,000 400,000 0.40% Call option
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $11,426,251 388,648 0.39% Shares
ROYAL BANK OF CANADA $9,525,000 323,964 0.33% Shares
VANGUARD FIDUCIARY TRUST CO $9,372,220 318,783 0.32% Shares
NISSAY ASSET MANAGEMENT CORP /JAPAN $9,203,729 313,052 0.31% Shares
Jump Financial, LLC $9,125,760 310,400 0.31% Shares
BNP PARIBAS FINANCIAL MARKETS $9,058,963 308,128 0.31% Shares
Liontrust Investment Partners LLP $8,832,965 300,441 0.30% Shares
Defiance ETFs, LLC $7,748,358 273,118 0.27% Shares
Aperture Investors, LLC $7,600,165 258,509 0.26% Shares
SEVEN GRAND MANAGERS, LLC $7,350,000 250,000 0.25% Shares
Bank of New York Mellon Corp $7,259,657 246,927 0.25% Shares
LMR Partners LLP $7,101,452 241,546 0.24% Shares

Show all 290 institutional owners →

Company insiders 16 insiders · 7 officers · 9 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Jesung Kim Chief Executive Officer Sept. 22, 2026 M 898,738 0 0 $0
Darren Ma Chief Financial Officer Sept. 17, 2026 M 329,897 0 0 $0
Ramon Gilbert Sanchez Chief Operating Officer March 10, 2026 A 118,493 0 0 $0
Daniel Frank Fermon Chief Operating Officer Sept. 24, 2025 A 88,889 0 0 $0
Remington Wu Chief Accounting Officer Sept. 16, 2026 F 38,596 0 0 $0
Russell Shea Ferring Chief Technology Officer Sept. 16, 2026 F 525,424 0 0 $0
David Leigh Wheeler General Counsel May 18, 2026 M 142,758 0 2 $-339,498
Ryan Michael Boland Director Aug. 14, 2026 J 127,156 0 0 $0
Thomas Hansueli Zurbuchen Director June 4, 2026 A 7,764 0 0 $0
Christopher Plummer Emerson IV Director June 4, 2026 A 6,964 0 0 $0
Jonathan Donald Lusczakoski Director June 4, 2026 A 9,186 0 0 $0
Pamela Joyce Braden Director June 4, 2026 A 31,216 0 0 $0
Kirk Michael Konert Director June 4, 2026 A 10,297 0 0 $0
Kevin G Mcallister Director June 4, 2026 A 6,964 0 0 $0
Marc Allen Weiser Director Feb. 25, 2026 A 3,334 0 0 $0
Nathan O'Konek · Aug. 4, 2026 A 103,154 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 27 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
UFO · Procure ETF Trust II 1.82% 524,446 NS July 31, 2026 N-PORT
PPA · Invesco Exchange-Traded Fund Trust 0.22% 703,980 SH Oct. 2, 2026 Daily
VTWG · VANGUARD SCOTTSDALE FUNDS 0.14% 85,597 SH Aug. 19, 2026 Daily
IWO · iShares Trust 0.11% 751,728 SH Sept. 11, 2026 Daily
TRFM · ETF Series Solutions 0.11% 12,841 NS July 31, 2026 N-PORT
VBK · VANGUARD INDEX FUNDS 0.07% 1,088,508 SH Aug. 19, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.07% 459,450 SH Aug. 19, 2026 Daily
BBSC · J.P. Morgan Exchange-Traded Fund Tr… 0.06% 21,313 NS July 31, 2026 N-PORT
BKSE · BNY Mellon ETF Trust 0.06% 2,673 NS July 31, 2026 N-PORT
IWM · iShares Trust 0.05% 2,045,839 SH Sept. 11, 2026 Daily
ITA · iShares Trust 0.05% 327,880 SH Sept. 11, 2026 Daily
RSSL · Global X Funds 0.05% 38,133 NS July 31, 2026 N-PORT
ESML · iShares Trust 0.04% 57,859 SH Sept. 11, 2026 Daily
DFEN · Direxion Shares ETF Trust 0.03% 5,861 NS July 31, 2026 N-PORT
VB · VANGUARD INDEX FUNDS 0.03% 1,882,883 SH Aug. 19, 2026 Daily
TEXN · iShares Trust 0.03% 242 SH Sept. 11, 2026 Daily
VIS · VANGUARD WORLD FUND 0.02% 68,196 SH Aug. 19, 2026 Daily
FIDU · FIDELITY COVINGTON TRUST 0.02% 18,398 NS July 31, 2026 N-PORT
WSML · iShares Trust 0.01% 3,767 SH Sept. 11, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.01% 379,396 SH Aug. 19, 2026 Daily
TILT · FlexShares Trust 0.00% 3,476 NS July 31, 2026 N-PORT
IWV · iShares Trust 0.00% 21,397 SH Sept. 11, 2026 Daily
ITOT · iShares Trust 0.00% 47,102 SH Sept. 11, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 2,608,040 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 6,564 SH Aug. 19, 2026 Daily
ISCB · iShares Trust · 3,471 SH Sept. 11, 2026 Daily
ISCV · iShares Trust · 17,279 SH Sept. 11, 2026 Daily

FLY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 15 analysts BUY
Median target $36.00 +54.4%
3 20.0% Strong Buy
8 53.3% Buy
4 26.7% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

10 analysts · 2026-10-01

Mean target $38.60 +65.5%

← Below all targets Current price $23.32
Low$25.00 Mean$38.60 High$50.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
FLY $3.56B -4.6 162.9% -186.6% -219.4% 19.2%
BETA · -2.2 136.0% -2094.2% -70.7% 72.2%
VSEC · · · · · ·
KRMN $9.68B 562.8 36.6% 3.7% 4.7% 40.3%
AIR · 23.2 19.0% 5.7% 11.5% 18.8%
ACHR $5.60B -7.6 · -206066.7% -31.8% ·
LUNR · -22.2 -7.9% -39.6% 9.4% ·
ATRO · 67.0 8.4% 3.4% 14.8% 29.9%
RDW $1.46B -3.3 10.3% -67.5% -52.0% 5.1%
DCO $1.42B -38.1 4.9% -4.5% -5.7% 26.9%
VVX $1.70B 22.3 3.6% 1.7% 7.2% ·

Latest News Recent headlines mentioning this company

23
NASA Hires Firefly Aerospace to Build a Drone Aircraft Carrier -- to the Moon Nasdaq · 3 months, 2 weeks ago Firefly (FLY) Rockets 15% as Prospects for Space Sector ‘Rosy’ Yahoo Finance · 4 months, 1 week ago Firefly Aerospace Inc. Q1 2026 Earnings Call Summary Yahoo Finance · 4 months, 3 weeks ago Why Firefly Aerospace Stock Popped Then Dropped Today Nasdaq · 4 months, 4 weeks ago Rocket stocks soar on reports Musk's SpaceX set to file for share sale BBC Business · 6 months, 1 week ago Space stocks rally on reports of SpaceX's imminent IPO filing CNBC · 6 months, 1 week ago Firefly Aerospace Q4 Earnings Call Highlights Yahoo Finance · 6 months, 1 week ago Why Firefly Aerospace Stock Popped Today Nasdaq · 6 months, 1 week ago Analysts Are Betting This Red-Hot Space Stock Could Gain Nearly 170% Yahoo Finance · 6 months, 2 weeks ago

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26

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Source: SEC 10-Q filed Aug 11, 2026