Virgin Galactic (SPCE)
Market Price (9/18/2025): $3.28 | Market Cap: $149.7 MilSector: Industrials | Industry: Aerospace & Defense
Virgin Galactic (SPCE)
Market Price (9/18/2025): $3.28Market Cap: $149.7 MilSector: IndustrialsIndustry: Aerospace & Defense
Investment Highlights
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -32% | Weak multi-year price returns2Y Excs Rtn is -139%, 3Y Excs Rtn is -158% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -322 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -18968% |
Expensive valuation multiplesP/SPrice/Sales ratio is 87x | ||
Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -84%, Rev Chg QQuarterly Revenue Change % is -90% | ||
Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -17179%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -27708% | ||
Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 190% | ||
Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -209% | ||
Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 25% |
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -32% |
Weak multi-year price returns2Y Excs Rtn is -139%, 3Y Excs Rtn is -158% |
Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -322 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -18968% |
Expensive valuation multiplesP/SPrice/Sales ratio is 87x |
Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -84%, Rev Chg QQuarterly Revenue Change % is -90% |
Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -17179%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -27708% |
Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 190% |
Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -209% |
Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 25% |
Market Valuation
9/18/25 | 2024 | 2023 | 2022 | 2021 | |
---|---|---|---|---|---|
Share Price CYE | $3.28 | $5.88 | $49.00 | $69.60 | $267.60 |
Market Cap CYE ($ Mil) | 149.7 | 178.1 | 981.2 | 957.1 | 3,452.1 |
Total Debt ($ Mil) | 421.3 | 420.1 | 417.9 | 415.7 | 0.0 |
Total Cash ($ Mil) | 469.3 | 563.2 | 874.0 | 909.0 | 603.9 |
Enterprise Value ($ Mil) | 101.6 | 598.2 | 1,399.1 | 1,372.8 | 3,452.1 |
Valuation Ratios | |||||
P/S TTM | 88.2 | 20.9 | 121.5 | 397.3 | 1006.4 |
P/EBIT TTM | -0.5 | -0.4 | -1.7 | -1.9 | -9.4 |
P/E TTM | -0.5 | -0.4 | -1.6 | -1.8 | -9.4 |
Sector Ratios | |||||
P/S TTM (Sector) | 1.7 | 1.4 | 1.4 | 1.1 | 1.6 |
P/EBIT TTM (Sector) | 11.3 | 10.2 | 10.0 | 8.3 | 12.1 |
P/E TTM (Sector) | 16.6 | 13.7 | 13.9 | 11.2 | 15.6 |
9/18/25 | 2024 | 2023 | |
---|---|---|---|
Share Price CYE | $3.28 | $5.88 | $49.00 |
Market Cap CYE ($ Mil) | 149.7 | 178.1 | 981.2 |
Total Debt ($ Mil) | 421.3 | 420.1 | 417.9 |
Total Cash ($ Mil) | 469.3 | 563.2 | 874.0 |
Enterprise Value ($ Mil) | 101.6 | 598.2 | 1,399.1 |
Valuation Ratios | |||
P/S TTM | 88.2 | 20.9 | 121.5 |
P/EBIT TTM | -0.5 | -0.4 | -1.7 |
P/E TTM | -0.5 | -0.4 | -1.6 |
Sector Ratios | |||
P/S TTM (Sector) | 1.7 | 1.4 | 1.4 |
P/EBIT TTM (Sector) | 11.3 | 10.2 | 10.0 |
P/E TTM (Sector) | 16.6 | 13.7 | 13.9 |
Business Description
Virgin Galactic Holdings, Inc. focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. It is also involved in the ground and flight testing, and post-flight maintenance of its spaceflight system vehicles.
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Price Returns Compared
Expand for Detailed View2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
---|---|---|---|---|---|---|---|
Returns | |||||||
SPCE Return | 105% | -44% | -74% | -30% | -88% | -45% | -99% |
Peers Return | -14% | 15% | 13% | 24% | 17% | 32% | 113% |
S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 12% | 104% |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: BA, LMT, GE, RTX, GD. See SPCE Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)
Latest Trefis Analyses
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Peer Comparisons for Virgin Galactic
Financials
Median | |
---|---|
Name | |
Mkt Price | 252.06 |
Mkt Cap | 136.4 |
Rev LTM | 61,058 |
Op Inc LTM | 5,517 |
FCF LTM | 2,996 |
FCF 3Y Avg | 3,698 |
CFO LTM | 5,048 |
CFO 3Y Avg | 5,300 |
Growth & Margins
Median | |
---|---|
Name | |
Rev Chg LTM | 7.1% |
Rev Chg 3Y Avg | 8.3% |
Rev Chg Q | 9.2% |
QoQ Delta Rev Chg LTM | 2.2% |
Op Mgn LTM | 9.1% |
Op Mgn 3Y Avg | 8.9% |
QoQ Delta Op Mgn LTM | 0.2% |
CFO/Rev LTM | 7.0% |
CFO/Rev 3Y Avg | 9.5% |
FCF/Rev LTM | 3.9% |
FCF/Rev 3Y Avg | 6.3% |
Valuation
Median | |
---|---|
Name | |
Mkt Cap | 136.4 |
P/S | 2.3 |
P/EBIT | 17.5 |
P/E | 23.8 |
P/CFO | 19.6 |
Total Yield | 3.5% |
Dividend Yield | 0.8% |
FCF Yield 3Y Avg | 3.3% |
D/E | 0.2 |
Net D/E | 0.1 |
Returns
Median | |
---|---|
Name | |
1M Rtn | 5.8% |
3M Rtn | 8.9% |
6M Rtn | 20.1% |
12M Rtn | 22.4% |
3Y Rtn | 50.3% |
1M Excs Rtn | 3.4% |
3M Excs Rtn | -1.8% |
6M Excs Rtn | 3.8% |
12M Excs Rtn | 4.7% |
3Y Excs Rtn | -19.6% |
Comparison Analyses
Returns Analyses
Earnings Returns History
Expand for MoreForward Returns | |||
---|---|---|---|
Earnings Date | 1D Returns | 5D Returns | 21D Returns |
8/6/2025 | -9.5% | -19.6% | -14.8% |
5/15/2025 | 43.3% | 9.9% | -8.7% |
2/26/2025 | -0.3% | -9.1% | -15.4% |
11/6/2024 | -11.8% | -0.6% | -9.0% |
8/7/2024 | 14.0% | 17.8% | 10.8% |
5/7/2024 | -1.5% | 25.7% | -18.0% |
2/27/2024 | -7.9% | -15.8% | -23.2% |
11/8/2023 | 19.2% | 40.4% | 49.4% |
... | |||
SUMMARY STATS | |||
# Positive | 10 | 9 | 7 |
# Negative | 14 | 15 | 17 |
Median Positive | 6.6% | 15.5% | 22.4% |
Median Negative | -9.4% | -15.8% | -18.4% |
Max Positive | 43.3% | 40.4% | 95.9% |
Max Negative | -17.6% | -28.3% | -53.0% |
SEC Filings
Expand for MoreReport Date | Filing Date | Filing |
---|---|---|
6302025 | 8062025 | 10-Q 6/30/2025 |
3312025 | 5152025 | 10-Q 3/31/2025 |
12312024 | 2262025 | 10-K 12/31/2024 |
9302024 | 11062024 | 10-Q 9/30/2024 |
6302024 | 8072024 | 10-Q 6/30/2024 |
3312024 | 5072024 | 10-Q 3/31/2024 |
12312023 | 2272024 | 10-K 12/31/2023 |
9302023 | 11092023 | 10-Q 9/30/2023 |
6302023 | 8012023 | 10-Q 6/30/2023 |
3312023 | 5092023 | 10-Q 3/31/2023 |
12312022 | 2282023 | 10-K 12/31/2022 |
9302022 | 11032022 | 10-Q 9/30/2022 |
6302022 | 8042022 | 10-Q 6/30/2022 |
3312022 | 5052022 | 10-Q 3/31/2022 |
12312021 | 2282022 | 10-K 12/31/2021 |
9302021 | 11082021 | 10-Q 9/30/2021 |
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