Starfighters Space (FJET)


Market Price (8/8/2026): $4.005 | Market Cap: $176.2 MilSector: Industrials | Industry: Aerospace & Defense

Starfighters Space (FJET)


Market Price (8/8/2026): $4.005
Market Cap: $176.2 Mil
Sector: Industrials
Industry: Aerospace & Defense

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Megatrend and thematic drivers
Megatrends include Advanced Aviation & Space. Themes include Commercial Space Exploration.

Weak multi-year price returns
2Y Excs Rtn is -98%, 3Y Excs Rtn is -125%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -17 Mil

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15%

High stock price volatility
Vol 12M is 499%

Key risks
FJET key risks include [1] its limited operating history and uncertain profitability, Show more.

0 Megatrend and thematic drivers
Megatrends include Advanced Aviation & Space. Themes include Commercial Space Exploration.
1 Weak multi-year price returns
2Y Excs Rtn is -98%, 3Y Excs Rtn is -125%
2 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -17 Mil
4 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15%
5 High stock price volatility
Vol 12M is 499%
6 Key risks
FJET key risks include [1] its limited operating history and uncertain profitability, Show more.

FJET in ETFs

Weight = FJET's share of each fund

IWO0.01%
VTWO0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/7/2026

Starfighters Space (FJET) stock has lost about 20% since 4/30/2026 because of the following key factors:

1. Poor Fiscal Q1 2026 Financial Performance: Starfighters Space (FJET) reported no revenue for its fiscal first quarter ended March 31, 2026. This quarter saw a 116% increase in operating expenses to $4.05 million from $1.88 million in fiscal Q1 2025, and a 61% increase in net loss to $4.27 million from $2.65 million in the prior year. The company's cash position also significantly declined to $1.40 million on March 31, 2026, from $4.58 million on December 31, 2025. Following the earnings announcement on May 20, 2026, the stock immediately declined by 5.7% and drifted 29.0% lower over the subsequent 68 days. An amended Q1 2026 report also disclosed substantial doubt about the company's ability to continue for one year without additional financing.

2. Share Dilution from Private Placement: In May 2026, Starfighters Space announced a private placement to raise $17.5 million through the issuance of 5,223,879 common shares at $3.35 per share. This substantial increase in outstanding shares likely contributed to downward pressure on the stock price due to the dilution of existing shareholder value.

Show more
Updated on 8/7/2026

Starfighters Space (FJET) stock has lost about 20% since 4/30/2026 because of the following key factors:

1. Poor Fiscal Q1 2026 Financial Performance: Starfighters Space (FJET) reported no revenue for its fiscal first quarter ended March 31, 2026. This quarter saw a 116% increase in operating expenses to $4.05 million from $1.88 million in fiscal Q1 2025, and a 61% increase in net loss to $4.27 million from $2.65 million in the prior year. The company's cash position also significantly declined to $1.40 million on March 31, 2026, from $4.58 million on December 31, 2025. Following the earnings announcement on May 20, 2026, the stock immediately declined by 5.7% and drifted 29.0% lower over the subsequent 68 days. An amended Q1 2026 report also disclosed substantial doubt about the company's ability to continue for one year without additional financing.

2. Share Dilution from Private Placement: In May 2026, Starfighters Space announced a private placement to raise $17.5 million through the issuance of 5,223,879 common shares at $3.35 per share. This substantial increase in outstanding shares likely contributed to downward pressure on the stock price due to the dilution of existing shareholder value.

3. "Sell-the-News" Reaction to Russell 3000 Index Inclusion and SpaceX IPO: Despite Starfighters Space being added to the Russell 3000 Index effective June 29, 2026, the stock experienced a significant decline. On June 5, 2026, FJET shares fell by 13% to $8.30 as part of a broader "sell-the-news" reaction across the space sector. This sector-wide sell-off was also influenced by the anticipated public debut of SpaceX around the same time, leading to heavy selling pressure on aerospace names.

4. Ongoing Unprofitability and Lack of Commercial Progress: Starfighters Space has been consistently unprofitable, with its losses increasing at an average annual rate of 43.8% over the past five years. Analyst sentiment in July 2026 rated the stock a "Strong Sell" due to a perceived lack of commercial operations, revenue, and insufficient evidence to support its business model. The company's StarLaunch concept, which aims to serve small-payload customers, currently lacks launch approvals, a commercial backlog, or proven unit economics. Furthermore, the company's financials indicate rising losses, minimal research and development, substantial stock-based compensation, and a concerning cash burn, with an ongoing risk of further dilution.

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Stock Movement Drivers

Fundamental Drivers

The -20.7% change in FJET stock from 4/30/2026 to 8/7/2026 was primarily driven by a 57.5% change in the company's Shares Outstanding (Mil).
(LTM values as of)43020268072026Change
Stock Price ($)5.033.99-20.7%
Change Contribution By: 
Total Revenues ($ Mil)00.0%
P/S Multiple0.0%
Shares Outstanding (Mil)442857.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/7/2026
ReturnCorrelation
FJET-20.7% 
Market (SPY)7.6%9.4%
Sector (XLI)6.1%-12.0%

Fundamental Drivers

The -47.6% change in FJET stock from 1/31/2026 to 8/7/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)13120268072026Change
Stock Price ($)7.613.99-47.6%
Change Contribution By: 
Total Revenues ($ Mil)0.0%
Net Income Margin (%)0.0%
P/E Multiple0.0%
Shares Outstanding (Mil)28280.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/7/2026
ReturnCorrelation
FJET-47.6% 
Market (SPY)12.1%14.1%
Sector (XLI)12.2%-0.7%

Fundamental Drivers

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Market Drivers

7/31/2025 to 8/7/2026
ReturnCorrelation
FJET  
Market (SPY)23.4%8.0%
Sector (XLI)23.1%6.0%

Fundamental Drivers

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Market Drivers

7/31/2023 to 8/7/2026
ReturnCorrelation
FJET  
Market (SPY)74.9%8.0%
Sector (XLI)74.7%6.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
FJET Return----37%-67%-55%
Peers Return19%9%4%103%40%12%328%
S&P 500 Return27%-19%24%23%16%13%105%

Monthly Win Rates [3]
FJET Win Rate----100%25% 
Peers Win Rate52%56%44%56%52%60% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
FJET Max Drawdown------73% 
Peers Max Drawdown-22%-31%-31%-20%-24%-42% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: RKLB, FLY, LMT, NOC, RTX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)

How Low Can It Go

FJET has limited trading history. Below is the Industrials sector ETF (XLI) in its place.

EventXLIS&P 500
2025 US Tariff Shock
  % Loss-15.8%-18.8%
  % Gain to Breakeven18.8%23.1%
  Time to Breakeven34 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-11.7%-9.5%
  % Gain to Breakeven13.2%10.5%
  Time to Breakeven45 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-20.1%-24.5%
  % Gain to Breakeven25.1%32.4%
  Time to Breakeven125 days427 days
2020 COVID-19 Crash
  % Loss-41.6%-33.7%
  % Gain to Breakeven71.2%50.9%
  Time to Breakeven231 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-23.7%-19.2%
  % Gain to Breakeven31.1%23.8%
  Time to Breakeven120 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-11.1%-12.2%
  % Gain to Breakeven12.5%13.9%
  Time to Breakeven51 days62 days

Compare to RKLB, FLY, LMT, NOC, RTX

In The Past

State Street Industrial Select Sector SPDR ETF's stock fell -15.8% during the 2025 US Tariff Shock. Such a loss loss requires a 18.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

FJET has limited trading history. Below is the Industrials sector ETF (XLI) in its place.

EventXLIS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-20.1%-24.5%
  % Gain to Breakeven25.1%32.4%
  Time to Breakeven125 days427 days
2020 COVID-19 Crash
  % Loss-41.6%-33.7%
  % Gain to Breakeven71.2%50.9%
  Time to Breakeven231 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-23.7%-19.2%
  % Gain to Breakeven31.1%23.8%
  Time to Breakeven120 days105 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-22.5%-17.9%
  % Gain to Breakeven29.0%21.8%
  Time to Breakeven114 days123 days
2008-2009 Global Financial Crisis
  % Loss-60.5%-53.4%
  % Gain to Breakeven153.2%114.4%
  Time to Breakeven700 days1085 days

Compare to RKLB, FLY, LMT, NOC, RTX

In The Past

State Street Industrial Select Sector SPDR ETF's stock fell -15.8% during the 2025 US Tariff Shock. Such a loss loss requires a 18.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Starfighters Space (FJET)

Starfighters Space (FJET) operates the world's sole commercial fleet of flight-ready Lockheed F-104 supersonic aircraft. These high-performance jets, known for being the first production aircraft to reach over Mach 2 in sustained flight and their exceptional climb capabilities, were historically used by NASA for high-speed research and even as launch platforms for sounding rockets. Starfighters Space aims to leverage these unique aircraft to provide accessible and cost-effective solutions for entrepreneurs, researchers, industry, and government entities seeking access to space and specialized aerospace services.

The company provides a core set of "Historical Services," including pilot and astronaut training, launch services, and in-flight testing. These services cater to a broad range of customers across defense, civil, academic, and commercial sectors. Starfighters Space believes there is an ongoing demand for the F-104's distinctive capabilities, especially given the absence of comparable commercially available aircraft, to fulfill needs previously met by NASA's F-104 operations.

Recognizing the significant growth in the space economy and a focused interest in hypersonic research and development, Starfighters Space is actively developing "New Services." These include expanded launch services for commercial, academic, civil, and government clients, particularly for lower Earth orbit access, and establishing an airborne testbed for hypersonic R&D and test and evaluation. The company plans to enhance its existing fleet of seven F-104s, currently based at NASA's Kennedy Space Center and Midland International Air & Space Port, with the acquisition of a "Platform II Aircraft" to offer more advanced capabilities and a longer operational lifespan to meet these evolving demands.

AI Analysis | Feedback

Starfighters Space is like a commercial **Lockheed Martin Skunk Works**, operating its unique F-104 supersonic fleet as an airborne testbed for advanced aerospace and hypersonic research.

Starfighters Space is like **Rocket Lab for aircraft-launched suborbital payloads**, providing a more accessible platform for scientific missions and atmospheric research.

AI Analysis | Feedback

Historical Services

  • Pilot and Astronaut Training: Provides specialized flight training for pilots and astronauts using the company's F-104 supersonic aircraft fleet.
  • Launch Services and Access to Space: Offers capabilities for launching sounding rockets and providing access to space, similar to historical NASA F-104 operations.
  • In-flight Testing: Conducts in-flight testing services for defense, civil, academic, and commercial applications.

New Services

  • Launch Services and Access to Space: Aims to provide enhanced access to space, particularly in lower earth orbits, for commercial, academic, civil, and government clients.
  • Airborne Testbed for Hypersonic Research and Development (R&D) and Test and Evaluation (T&E): Serves as an airborne platform for the research, development, testing, and evaluation of hypersonic technologies for various clients.

AI Analysis | Feedback

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Starfighters Space (FJET) primarily sells its services to other organizations rather than individuals. Based on the provided information, its major customers fall into the following categories:

  • Government: This includes defense, civil, and other governmental agencies seeking services such as pilot and astronaut training, launch services, access to space, and airborne testbeds for hypersonic research and development.
  • Commercial: This category encompasses various businesses, industry participants, and entrepreneurs who utilize Starfighters' services for in-flight testing, launch services, access to space, and hypersonic R&D testbeds.
  • Academic: Researchers and academic institutions are also target customers, leveraging Starfighters' unique fleet for high-speed flight research, in-flight testing, and access to space for various scientific endeavors.
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Tim Franta, Chief Executive Officer

Tim Franta was appointed Chief Executive Officer on February 22, 2026, having previously served as the Vice President of Development. Prior to joining Starfighters, Mr. Franta was the deputy director of Energy Florida in Cape Canaveral from October 2018 to September 2022 and Director of Special Projects from 2012 to October 2018. He specialized in space and energy business development and also worked for the Florida Legislature, serving as chief of staff for the Florida Space Authority, where he helped draft space transportation legislation and oversaw FAA licensing of two launch pads.

David Whitney, Chief Financial Officer

David Whitney has served as Starfighters Space, Inc.'s Chief Financial Officer since January 2024. Mr. Whitney has over 10 years of experience as a Finance Executive for technology companies, working with both private and public entities. From November 2016 to May 2020, he served as the Chief Financial Officer for RentMoola Payment Solutions Inc., also serving on its Board of Directors from September 2018 to January 2020. From September 2022 to December 2023, he was the Chief Financial Officer for BRON Studios, a large Canadian independent film studio. Mr. Whitney is a CPA (CA) designated in British Columbia, Canada, and articled in public practice at Ernst & Young LLP.

Michael Smith, Vice President of Operations

Michael "Smitty" Smith brings over 30 years of professional experience, with extensive operational and technical knowledge, to Starfighters' mission.

Piercarlo Ciacchi, Director of Flight Operations

Piercarlo "Capone" Ciacchi is a former Italian Air Force F-104 and F-16 pilot and was selected for the Italian National Team "FRECCE TRICOLORI" in 2005. He moved to the U.S. in 2015 and founded Spaceport Aviation, a flight school in Florida. He works as the Director of Flight Operations for Starfighters Aerospace and also serves as an F-104 instructor.

Geoffrey P. Hickman, Independent Director

Geoffrey "Hak" Hickman is a c-suite executive and board member with over 30 years' experience in risk management, financial services, and building high-performing teams. He is a former tactical military pilot with over 3200 flight hours and holds FINRA banking licenses. He is currently the Managing Partner of Global Specialized Advisory, LLC., a consulting company. Previously, Mr. Hickman was a management consultant with McKinsey & Company and served as an F-16 Instructor and Evaluator pilot in the U.S. Air Force, flying combat missions over Iraq and the former Yugoslavia.

AI Analysis | Feedback

Key Business Risks for Starfighters Space (FJET)

  1. Reliance on Aging F-104 Fleet and Associated Operational Challenges: Starfighters Space's core operations depend on a fleet of Lockheed F-104 supersonic aircraft, which were retired by NASA in 1995. This reliance on vintage aircraft introduces substantial risks related to increased maintenance costs, difficulty in sourcing specialized spare parts, challenges in maintaining airworthiness certifications, and the inherent limitations on the operational lifespan of these decades-old assets. These factors could impede the company's ability to consistently deliver both its Historical and New Services.
  2. Technological Obsolescence and Emerging Competition: While the F-104s offer unique capabilities, the markets for "access to space" and "hypersonic research and development" are rapidly evolving with continuous technological advancements. There is a significant risk that newer aerospace technologies, more modern and efficient aircraft, or alternative research platforms developed by competitors could emerge. Such developments could potentially render the F-104s less competitive or even obsolete for the advanced requirements of clients pursuing cutting-edge research, thereby impacting the demand for Starfighters Space's services.
  3. Ability to Successfully Acquire and Integrate Next-Generation Aircraft (Platform II): The company's strategy for growth and sustained long-term operations, particularly for its "New Services," hinges on the successful acquisition and integration of "Platform II Aircraft." These aircraft are intended to provide more advanced capabilities and a longer operating lifespan. The inability to secure the necessary capital for this acquisition, or encountering unforeseen challenges in the integration, certification, and operational deployment of these new aircraft, could significantly hinder the company's strategic expansion and future revenue generation.

AI Analysis | Feedback

The explicit mention that NASA retired the Lockheed F-104 in 1995, transitioning to the McDonnell Douglas F/A-18 Hornet supersonic Aircraft, indicates that for a key historical user and a segment of Starfighters' target market (government and research), a more modern and capable supersonic aircraft was preferred for similar missions. While Starfighters currently holds a unique position by commercially operating F-104s, the existence and use of more modern supersonic aircraft by government entities and potentially other private actors could pose an emerging threat. If such superior aircraft become more widely available commercially for training, testing, and launch services, or if government agencies increasingly rely on their own modern fleets or newer privately developed platforms, it would undermine Starfighters' unique value proposition based on its legacy F-104 fleet.

AI Analysis | Feedback

Starfighters Space (FJET) operates in several addressable markets, including pilot and astronaut training, launch services and access to space, in-flight testing, and airborne testbeds for hypersonic research and development.

Pilot and Astronaut Training

The global pilot training market was valued at approximately USD 10.74 billion in 2025 and is projected to reach USD 29.71 billion by 2034. Another estimate places the global market at USD 9.41 billion in 2024, expected to grow to USD 31.38 billion by 2034. In 2025, Europe held a dominant share of the pilot training market. Specifically, the U.S. market for pilot training is projected to reach USD 2.07 billion by 2026. The civil aerospace simulation and training market, which encompasses astronaut training, was valued at USD 1.93 billion in 2025 and is forecasted to reach USD 2.9 billion by 2031, with the space segment showing significant growth.

Launch Services and Access to Space

The global space launch services market was valued at USD 12.7 billion in 2023 and is projected to reach USD 46.1 billion by 2033. Other estimates for the global market size include USD 20 billion, USD 6.1 billion in 2023 increasing to USD 11.2 billion by 2033, USD 18.20 billion in 2025 growing to USD 45.92 billion by 2034, and approximately USD 15.2 billion in 2024, expected to reach USD 35 billion by 2030. North America holds a significant share of this market, accounting for 30% in 2025.

In-flight Testing

The global flight test system market is estimated to be valued at approximately USD 0.36 billion in 2026 and is projected to reach USD 0.7 billion by 2035. The broader aerospace testing market was valued at USD 5.3 billion in 2024 and is projected to reach USD 7.22 billion by 2030. Another source indicates the aerospace testing market was USD 5.3 billion in 2024 and is predicted to grow to USD 8.2 billion across 2035. North America is a key region in this market, holding about 39.2% of the aerospace testing market share in 2024.

Airborne Testbed for Hypersonic Research and Development (R&D) and Test and Evaluation (T&E)

The global hypersonic technology market was valued at USD 7.10 billion in 2025 and is projected to reach USD 13.75 billion by 2035. Another estimation places the global hypersonic technology market size at USD 6.68 billion in 2024, expected to reach USD 12.36 billion by 2033. The global hypersonic flight market, which includes testbeds, was calculated at USD 11.43 billion in 2025 and is predicted to increase to approximately USD 120.03 billion by 2035. In the U.S., the hypersonic technology market was valued at USD 2.13 billion in 2025 and is projected to reach USD 3.60 billion by 2035. North America holds a significant portion of the hypersonic technology market, with the U.S. alone accounting for 89.60% of this share.

AI Analysis | Feedback

Starfighters Space (FJET) anticipates several key drivers for its future revenue growth over the next 2-3 years, primarily leveraging its unique fleet of F-104 supersonic aircraft and strategic positioning within the expanding space and defense sectors.

One significant driver is the

increased government and commercial demand for space and defense services

. The company is poised to benefit from heightened government investment in space infrastructure and related technologies, including initiatives for lunar bases and Mars exploration. The U.S. Space Force's boosted budget and the proposed increase in overall military spending, with a focus on space-based defense architecture and satellite constellations, are expected to create substantial funding opportunities and potential contracts for companies like Starfighters Space. Furthermore, the global space economy, driven by national security and sovereignty programs, is projected to grow significantly, anchoring a supportive environment for Starfighters' services.

Another crucial growth driver is the

expansion of small satellite launch services through its STARLAUNCH programs

. Starfighters Space is progressing with its proprietary air-launch satellite delivery rockets, STARLAUNCH I and STARLAUNCH II, which are designed for cost-effective small payload launches into lower earth orbits. Management believes the "Space business" focused on small satellite launches presents significant near-term revenue-generating opportunities, especially within the relatively untapped niche market for micro-satellite launches. The company's unique capability as the only commercial entity capable of sustained Mach 2 flight while launching payloads to space positions it as a potentially cost-effective launch provider.

The company also expects growth from its role as an

airborne testbed for hypersonic research and development (R&D) and test and evaluation (T&E)

. Leveraging the F-104's capabilities for high-speed flight research, Starfighters is actively engaged in advanced scientific efforts, including hypersonic testing, and serves as a subcontractor for programs like MACH TB. This addresses a growing demand for commercial, research, and defense technologies in the hypersonic domain.

Finally,

geographic expansion and increased operational cadence

are anticipated to fuel revenue growth. Starfighters Space recently expanded its operations at Midland International Air & Space Port, relocating aircraft and support equipment to enhance mission cadence and geographic flexibility. This expansion, which complements its headquarters at NASA's Kennedy Space Center, aims to increase fleet availability and reach across various U.S. Southwest locations, thereby supporting a higher volume of services.

AI Analysis | Feedback

Capital Allocation Decisions for Starfighters Space (FJET)

Share Issuance

  • Starfighters Space completed its Initial Public Offering (IPO) on December 17, 2025, raising $40 million through the sale of 11,142,061 shares of common stock at a public offering price of $3.59 per share. This included shares sold from September 6, 2024, to July 16, 2025, totaling approximately $17.9 million, and an additional $22.1 million from a final closing.
  • On December 31, 2025, the company issued 11,676,166 shares of common stock through the cashless exercise of 11,915,000 common stock purchase warrants.
  • In March 2026, the Chief Financial Officer and a director received 37,500 and 11,250 shares of common stock, respectively, from the exercise of restricted stock units at $0.00 per share, as part of stock-based compensation.

Inbound Investments

  • The company successfully completed its Initial Public Offering, raising $40 million through a Regulation A Tier 2 offering.

Capital Expenditures

  • Starfighters Space plans to utilize the $40 million in IPO proceeds to advance its research and development efforts, including the STARLAUNCH programs, and to expand its operations to address the increasing demand for commercial satellite and payload launches into low Earth orbit.
  • Of the IPO proceeds, $8 million was specifically earmarked for capital expenditures, and an additional $4 million was designated for STARLAUNCH-related research and development.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

FJETRKLBFLYLMTNOCRTXMedian
NameStarfigh.Rocket L.Firefly .Lockheed.Northrop.RTX  
Mkt Price3.9982.8326.71587.95571.58223.03152.93
Mkt Cap0.250.14.3135.381.2301.265.7
Rev LTM068018577,01442,89293,50021,786
Op Inc LTM-17-226-2989,1534,59810,4852,290
FCF LTM--316-2578,7293,64610,9853,646
FCF 3Y Avg--210-6,3362,5267,2084,431
CFO LTM--162-21110,4025,07814,2065,078
CFO 3Y Avg--113-8,0804,14210,3856,111

Growth & Margins

FJETRKLBFLYLMTNOCRTXMedian
NameStarfigh.Rocket L.Firefly .Lockheed.Northrop.RTX  
Rev Chg LTM-45.8%70.7%7.2%5.9%11.8%11.8%
Rev Chg 3Y Avg-45.4%-4.6%4.3%10.0%7.3%
Rev Chg Q-63.5%44.8%10.5%5.1%14.5%14.5%
QoQ Delta Rev Chg LTM-12.9%15.7%2.5%1.2%3.5%3.5%
Op Inc Chg LTM--9.6%-37.2%53.7%15.6%26.0%15.6%
Op Inc Chg 3Y Avg--15.1%-7.5%11.5%56.7%9.5%
Op Mgn LTM--33.2%-161.1%11.9%10.7%11.2%10.7%
Op Mgn 3Y Avg--46.4%-10.7%9.1%8.3%8.7%
QoQ Delta Op Mgn LTM-4.8%2.0%2.0%-0.4%0.3%2.0%
CFO/Rev LTM--23.8%-114.1%13.5%11.8%15.2%11.8%
CFO/Rev 3Y Avg--24.1%-11.0%10.0%12.5%10.5%
FCF/Rev LTM--46.5%-139.3%11.3%8.5%11.7%8.5%
FCF/Rev 3Y Avg--44.4%-8.6%6.1%8.6%7.3%

Valuation

FJETRKLBFLYLMTNOCRTXMedian
NameStarfigh.Rocket L.Firefly .Lockheed.Northrop.RTX  
Mkt Cap0.250.14.3135.381.2301.265.7
P/S-73.823.11.81.93.23.2
P/Op Inc-10.2-222.3-14.314.817.728.72.3
P/EBIT-9.5-269.5-12.115.913.725.82.1
P/E-9.1-274.6-12.721.518.138.94.5
P/CFO--310.3-20.213.016.021.213.0
Total Yield-11.0%-0.4%-7.9%7.0%7.2%3.8%1.7%
Dividend Yield0.0%0.0%0.0%2.3%1.7%1.2%0.6%
FCF Yield 3Y Avg--2.4%-5.6%3.6%3.9%3.8%
D/E0.00.00.00.20.20.10.1
Net D/E-0.1-0.0-0.10.10.20.10.0

Returns

FJETRKLBFLYLMTNOCRTXMedian
NameStarfigh.Rocket L.Firefly .Lockheed.Northrop.RTX  
1M Rtn-10.9%-0.6%3.2%11.4%4.9%14.4%4.0%
3M Rtn-29.8%-21.5%-32.7%16.8%4.5%27.2%-8.5%
6M Rtn-25.0%14.5%11.9%-4.6%-18.8%13.1%3.6%
12M Rtn-53.1%87.4%-55.7%40.2%-1.2%45.5%19.5%
3Y Rtn-53.1%1,143.7%-55.7%41.8%38.8%175.7%40.3%
1M Excs Rtn-13.6%-2.5%2.8%10.6%4.6%11.4%3.7%
3M Excs Rtn-30.7%-0.3%-23.2%9.8%-1.8%21.0%-1.1%
6M Excs Rtn-35.6%10.8%5.2%-16.5%-31.4%0.6%-7.9%
12M Excs Rtn-75.3%65.6%-78.0%16.6%-23.7%23.2%-3.6%
3Y Excs Rtn-124.9%1,014.8%-127.6%-29.8%-37.6%106.2%-33.7%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20242023
Operations of F104 Fighter jets and development of infrastructure fororbital space launch00
Total00


Assets by Segment
$ Mil202520242023
Operations of F104 Fighter jets and development of infrastructure fororbital space launch28104
Total28104


Price Behavior

null
FJET Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta2.110.210.541.31-9.10-4.97
Up Beta2.67-3.99-4.30-3.824.70-5.86
Down Beta-2.09-0.70-0.650.221.390.30
Up Capture19%-62%125%287%193%18%
Bmk +ve Days11223567138427
Stock +ve Days51225495858
Down Capture548%318%271%256%177%99%
Bmk -ve Days11212859114326
Stock -ve Days152935749292

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FJET
FJET-53.2%498.8%0.75-
Sector ETF (XLI)24.1%17.0%1.106.0%
Equity (SPY)23.3%12.8%1.368.0%
Gold (GLD)28.5%28.4%0.8711.1%
Commodities (DBC)32.9%19.8%1.32-7.9%
Real Estate (VNQ)14.2%13.8%0.723.3%
Bitcoin (BTCUSD)-44.2%42.9%-1.233.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FJET
FJET-14.0%498.8%0.75-
Sector ETF (XLI)14.0%17.6%0.626.0%
Equity (SPY)13.5%17.2%0.618.0%
Gold (GLD)18.6%18.6%0.8111.1%
Commodities (DBC)8.2%19.6%0.31-7.9%
Real Estate (VNQ)2.3%18.9%0.023.3%
Bitcoin (BTCUSD)8.8%53.0%0.353.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FJET
FJET-7.3%498.8%0.75-
Sector ETF (XLI)14.2%20.0%0.626.0%
Equity (SPY)15.4%17.9%0.738.0%
Gold (GLD)12.1%16.2%0.6111.1%
Commodities (DBC)7.4%18.0%0.33-7.9%
Real Estate (VNQ)4.8%20.7%0.203.3%
Bitcoin (BTCUSD)58.2%66.2%0.983.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity4.1 Mil
Short Interest: % Change Since 6302026-12.2%
Average Daily Volume0.8 Mil
Days-to-Cover Short Interest5.2 days
Basic Shares Quantity44.0 Mil
Short % of Basic Shares9.4%

Earnings Returns History

Updated 7/24/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/21/20260.2%33.1%-8.9%
SUMMARY STATS   
# Positive110
# Negative001
Median Positive0.2%33.1% 
Median Negative  -8.9%
Max Positive0.2%33.1% 
Max Negative  -8.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/21/20260.2%33.1%-8.9%
SUMMARY STATS   
# Positive110
# Negative001
Median Positive0.2%33.1% 
Median Negative  -8.9%
Max Positive0.2%33.1% 
Max Negative  -8.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/20/202610-Q
12/31/202504/15/202610-K
09/30/202501/26/202610-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/20/202610-Q
12/31/202504/15/202610-K
09/30/202501/26/202610-Q

Insider Activity

Updated 6/29/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Whitney, David KirkChief Financial OfficerDirectSell10620269.9737,500  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Whitney, David KirkChief Financial OfficerDirectSell10620269.9737,500  Form
Core Cache Last Updated: 8/7/2026