# Firefly Aerospace Inc. (FLY) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Industrials / Aerospace & Defense. Price $21.67, market value $3.6 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Firefly Aerospace Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 12.6×**. Each dollar of revenue is priced at 12.6×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 2.9×**. The shares trade at 2.9× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -9.0%** (5-yr avg -15.4%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: 22.9%**. Firefly Aerospace Inc. keeps 22.9% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: -118.0%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -186.6%**. The company reported a net loss over the last twelve months.
- **Return on equity: -25.1%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -66.2%**. Return on all capital, debt included, is -66.2%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -19.9%**. Each dollar of assets produces -19.9% of profit.

## Growth
- **Revenue growth (1 yr): 163.0%**. Revenue grew 163.0% over the last year.
- **EPS growth (1 yr): 76.7%**. Earnings per share rose 76.7%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.01**. Debt is 0.01 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 2.7×**. It would take 2.7 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 3.96**. A Z-score of 3.96 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Firefly Aerospace Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -49.4%** (YTD -3.1%, 3-mo -40.0%). The shares are down 49.4% over twelve months including dividends.
- **From 52-week high: -65.1%** (35.4% above the low). Trading 65% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 42**. An RSI of 42 is neutral.
- **Beta (1 yr): 3.29** (volatility 111%). Beta of 3.29 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=FLY · Page: https://foliofundamentals.com/stocks/fly

Not investment advice.