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Gogo Inc. (GOGO) 10-Year Financial Performance & Capital Metrics

GOGO • • Utilities
Communication ServicesTelecom ServicesSatellite CommunicationsAviation Connectivity
AboutGogo Inc., through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services. It also offers suite of integrated equipment, network, and internet connectivity products and services, as well as includes suite of smart cabin systems for integrated connectivity, in-flight entertainment, and voice solutions. In addition, the company portfolio comprises of in-flight network, in-flight systems, in-flight services, aviation partner support, and production operations functions. Further, the company offers satellite-based voice and data services. Gogo Inc. was founded in 1991 and is headquartered in Broomfield, Colorado.Show more
  • Revenue $445M +11.9%
  • EBITDA $70M -50.1%
  • Net Income $14M -90.6%
  • Free Cash Flow -$296M -638.9%
  • EBITDA Margin 15.8% -55.4%
  • Net Margin 3.09% -91.6%
  • ROE 24.98% -93.0%
  • Interest Coverage 1.33 -64.5%
  • Debt/Equity 13.20 -20.7%
  • Net Debt/EBITDA 12.43 +224.8%
  • CapEx / Revenue 75.83% +1753.2%
  • CapEx Coverage 0.12 -97.5%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 191.3%

✗Weaknesses

  • ✗High debt to equity ratio of 13.2x
  • ✗Weak momentum: RS Rating 6 (bottom 6%)
  • ✗High leverage: 13.0x Debt/EBITDA
  • ✗Weak interest coverage of 1.3x
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.85%
5Y7.55%
3Y9.83%
TTM102.05%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-55.19%
TTM-109.38%

EPS CAGR

10Y-
5Y-
3Y-57.25%
TTM-111.1%

ROCE

10Y Avg8.83%
5Y Avg19.27%
3Y Avg16.29%
Latest5.84%

Peer Comparison

Aviation Connectivity
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
GOGOGogo Inc.639.82M4.7847.8011.85%-0.65%-4.95%13.20

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+500.89M596.55M699.09M893.76M308.99M269.72M335.72M404.07M397.58M444.71M
Revenue Growth %0.23%0.19%0.17%0.28%-0.65%-0.13%0.24%0.2%-0.02%0.12%
Cost of Revenue228.36M274.73M326.89M513.89M93.89M84.37M102.19M135.9M132.95M166.6M
Gross Profit+272.53M321.82M372.2M379.88M215.1M185.35M233.52M268.17M264.63M278.11M
Gross Margin %----------
Gross Profit Growth %0.37%0.18%0.16%0.02%-0.43%-0.14%0.26%0.15%-0.01%0.05%
Operating Expenses+317.37M348.46M436.46M406.8M118.57M109M112.89M125.84M140.46M226.84M
Other Operating Expenses----------
EBITDA+42.19M79M81.23M106.7M113.22M90.52M136.11M154.91M140.87M70.24M
EBITDA Margin %----------
EBITDA Growth %2.06%0.87%0.03%0.31%0.06%-0.2%0.5%0.14%-0.09%-0.5%
Depreciation & Amortization+87.04M105.64M145.49M133.62M16.69M14.17M15.48M12.58M16.7M18.97M
D&A / Revenue %----------
Operating Income (EBIT)+-44.84M-26.64M-64.26M-26.92M96.53M76.35M120.63M142.33M124.17M51.27M
Operating Margin %----------
Operating Income Growth %0.12%0.41%-1.41%0.58%4.59%-0.21%0.58%0.18%-0.13%-0.59%
Interest Expense+58.89M83.65M111.94M122.81M130.57M125.79M67.47M38.87M33.06M38.43M
Interest Coverage-0.76x-0.32x-0.57x-0.22x0.74x0.61x1.79x3.66x3.76x1.33x
Interest / Revenue %----------
Non-Operating Income-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K
Pretax Income+-106.38M-123.19M-173.99M-165.32M-87.93M-48.7M-30.64M105.72M97.6M18.13M
Pretax Margin %----------
Income Tax+1.24M1.31M-2M-3.29M563K-146K-187.23M13.66M-48.08M4.39M
Effective Tax Rate %----------
Net Income+-107.61M-124.5M-172M-162.03M-146M-250.04M152.74M92.06M145.68M13.75M
Net Margin %----------
Net Income Growth %-0.27%-0.16%-0.38%0.06%0.1%-0.71%1.61%-0.4%0.58%-0.91%
EPS (Diluted)+-1.35-1.58-2.17-2.02-1.81-3.501.280.711.090.10
EPS Growth %-0.36%-0.17%-0.37%0.07%0.1%-0.93%1.37%-0.45%0.54%-0.91%
EPS (Basic)-1.35-1.58-2.17-2.02-1.81-3.501.460.751.120.11
Diluted Shares Outstanding79.7M78.92M79.41M80.04M80.77M82.27M127.2M133.92M133.28M131.46M

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+1B1.25B1.4B1.27B1.21B673.59M647.69M759.53M781.54M1.23B
Asset Growth %0.31%0.24%0.13%-0.1%-0.04%-0.45%-0.04%0.17%0.03%0.57%
PP&E (Net)+434.49M519.81M656.04M511.87M104.99M97.18M134.66M179.86M168.68M187.59M
PP&E / Total Assets %----------
Total Current Assets+468.01M604.73M592.9M585.53M424.82M512.23M249.91M324.15M314.59M323.09M
Cash & Equivalents366.83M117.3M196.36M184.16M170.02M435.35M145.91M150.55M139.04M41.77M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Inventory20.94M50.27M45.54M193.04M35.2M28.11M33.98M49.49M63.19M97.93M
Other Current Assets10.92M24.94M20.31M16.52M165.44M6.39M5.08M7.21M36.32M36.47M
Long-Term Investments7.54M7.77M6.87M54.94M17.45M00020.25M4.21M
Goodwill620K620K620K620K600K600K600K600K620K184.83M
Intangible Assets78.82M85.17M86.51M82.87M51.18M52.07M48.93M48.89M55.03M275.33M
Other Assets22.41M35.86M67.11M84.21M615.65M11.51M28.45M43.38M5.73M36.87M
Total Liabilities938.16M1.29B1.59B1.53B1.61B1.31B967.84M861.39M740.81M1.16B
Total Debt+563.85M803.51M1B1.03B1.15B1.22B889.15M785.76M678.09M914.93M
Net Debt197.02M686.21M806.3M841.39M980.83M779.73M743.24M635.21M539.05M873.17M
Long-Term Debt542.57M800.72M1B1.02B1.1B827.97M694.76M690.17M587.5M831.58M
Short-Term Borrowings1000K1000K0001000K1000K1000K1000K1000K
Capital Lease Obligations2.79M2M1.79M652K49.6M46.11M84.77M88.33M83.33M80.85M
Total Current Liabilities+197.58M251.06M316.28M299.69M252.64M438.13M188.52M84.37M72M182.03M
Accounts Payable28.19M31.69M27.13M23.86M5.5M11.01M17.2M13.65M16.09M67.23M
Accrued Expenses65.02M111.05M173.77M181.36M23.14M25.58M34.19M25.19M10.39M25.54M
Deferred Revenue24.05M32.72M43.45M38.57M2.23M12.51M1.82M3.42M1M30.41M
Other Current Liabilities45.33M54.49M70.14M55.9M209.17M37.92M16.24M23.49M26.98M34.7M
Deferred Taxes1000K1000K1000K1000K1000K1000K0000
Other Liabilities11.44M226.55M197.32M185.43M193.46M8.47M7.24M7.61M8.27M78.12M
Total Equity+66.19M-40.39M-191.56M-268.76M-398.89M-641.11M-320.15M-101.87M40.73M69.32M
Equity Growth %-0.67%-1.61%-3.74%-0.4%-0.48%-0.61%0.5%0.68%1.4%0.7%
Shareholders Equity66.19M-40.39M-191.56M-268.76M-398.89M-641.11M-320.15M-101.87M40.73M69.32M
Minority Interest0000000000
Common Stock9K9K9K9K9K9K11K14K14K14K
Additional Paid-in Capital861.24M879.13M898.73M963.46M979.5M1.09B1.26B1.39B1.4B1.46B
Retained Earnings-792.87M-917.37M-1.09B-1.23B-1.38B-1.63B-1.45B-1.36B-1.21B-1.2B
Accumulated OCI-2.19M-2.16M-933K-3.55M-2.26M-1.01M1.79M30.13M15.8M5.57M
Return on Assets (ROA)-0.12%-0.11%-0.13%-0.12%-0.12%-0.26%0.23%0.13%0.19%0.01%
Return on Equity (ROE)-0.82%-9.65%------3.58%0.25%
Debt / Equity8.52x-------16.65x13.20x
Debt / Assets0.56%0.64%0.71%0.81%0.95%1.8%1.37%1.03%0.87%0.74%
Net Debt / EBITDA4.67x8.69x9.93x7.89x8.66x8.61x5.46x4.10x3.83x12.43x
Book Value per Share0.83-0.51-2.41-3.36-4.94-7.79-2.52-0.760.310.53

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+104.86M64.99M60.26M-82.31M64.06M-132.69M65.49M103.41M78.97M41.42M
Operating CF Growth %2.62%-0.38%-0.07%-2.37%1.78%-3.07%1.49%0.58%-0.24%-0.48%
Operating CF / Revenue %----------
Net Income-107.61M-124.5M-172M-162.03M-146M-48.56M156.59M92.06M145.68M13.75M
Depreciation & Amortization87.04M105.64M145.49M133.62M118.82M14.17M15.48M12.58M16.7M18.97M
Deferred Taxes827K839K-2.28M-3.82M178K-232K-187.32M13.17M-49.17M3.25M
Other Non-Cash Items22.02M40.5M30.99M33.99M91.78M-116.27M88.25M6.29M6.77M13.19M
Working Capital Changes87.29M24.89M38.23M-100.98M-17.23M10.39M-20.86M-39.76M-62.3M-28.5M
Capital Expenditures+-153.15M-295.56M-280.23M-131.66M-115.48M348.4M-24.09M-49.91M-24.09M-337.2M
CapEx / Revenue %----------
CapEx / D&A----------
CapEx Coverage (OCF/CapEx)----------
Cash from Investing+-153.26M-295.56M-156.88M41.81M-73.71M348.4M-24.09M-70.42M29.86M-337.2M
Acquisitions75K-28.5M-27.86M23.03M001M1.71M0-332.72M
Purchase of Investments-192K-363.44M-317.42M-39.32M00-8.63M-24.8M-54.38M-5M
Sale of Investments01000K1000K1000K1000K0-1000K1000K1000K1000K
Other Investing-117K28.81M25.52M-23.03M2.45M350.22M-6.8M-1.71M19.98M-9.16M
Cash from Financing+203.22M201.05M174.94M27.31M-3.54M44.42M-331.04M-28.39M-120.43M198.69M
Dividends Paid0000000000
Dividend Payout Ratio %----------
Debt Issuance (Net)1000K1000K1000K1000K1000K1000K-1000K-1000K-1000K1000K
Stock Issued4.63M271K00000000
Share Repurchases0000000-18.38M-4.82M-33.19M
Other Financing-147.97M-11.2M-3.86M-10M-23.36M-4.28M-25.5M-2.58M-8.23M-7.03M
Net Change in Cash+155.6M-30.04M79.05M-12.61M-13.44M258.19M-289.6M4.61M-11.51M-97.06M
Exchange Rate Effect785K-522K743K578K-250K-1000K40K13K94K29K
Cash at Beginning211.24M147.34M117.3M203.73M191.12M177.68M435.87M146.27M150.88M139.37M
Cash at End366.83M117.3M196.36M191.12M177.68M435.87M146.27M150.88M139.37M42.3M
Free Cash Flow+-48.29M-230.57M-219.97M-213.97M-51.42M215.72M41.4M53.49M54.88M-295.78M
FCF Growth %0.6%-3.77%0.05%0.03%0.76%5.2%-0.81%0.29%0.03%-6.39%
FCF Margin %----------
FCF / Net Income %----------

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-81.54%-965.08%------357.71%24.98%
EBITDA Margin8.42%13.24%11.62%11.94%36.64%33.56%40.54%38.34%35.43%15.8%
Net Debt / EBITDA4.67x8.69x9.93x7.89x8.66x8.61x5.46x4.10x3.83x12.43x
Interest Coverage-0.76x-0.32x-0.57x-0.22x0.74x0.61x1.79x3.66x3.76x1.33x
CapEx / Revenue30.58%49.54%40.08%14.73%37.37%129.17%7.18%12.35%4.09%75.83%
Debt / Equity8.52x-------16.65x13.20x
EPS Growth-36.36%-17.04%-37.34%6.91%10.4%-93.37%136.57%-44.53%53.52%-90.83%

Revenue by Segment

2015201620172018201920202021202220232024
Service-----211.99M259.58M296.33M318.01M364.27M
Service Growth------22.45%14.16%7.32%14.54%
Product-----57.73M76.13M107.74M79.56M80.44M
Product Growth------31.88%41.51%-26.15%1.10%
Business Aviation100.05M132.84M170.88M290.15M308.99M-----
Business Aviation Growth-32.78%28.63%69.80%6.49%-----
Commercial Aviation Rest Of World11.56M24.2M53.54M134.39M148.72M-----
Commercial Aviation Rest Of World Growth-109.27%121.27%151.01%10.66%-----

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES---------397.38M
UNITED STATES Growth----------
International---------47.33M
International Growth----------

Frequently Asked Questions

Valuation & Price

Gogo Inc. (GOGO) has a price-to-earnings (P/E) ratio of 47.8x. This suggests investors expect higher future growth.

Growth & Financials

Gogo Inc. (GOGO) reported $817.7M in revenue for fiscal year 2024. This represents a 411% increase from $160.2M in 2011.

Gogo Inc. (GOGO) grew revenue by 11.9% over the past year. This is steady growth.

Gogo Inc. (GOGO) reported a net loss of $5.3M for fiscal year 2024.

Dividend & Returns

Gogo Inc. (GOGO) has a return on equity (ROE) of 25.0%. This is excellent, indicating efficient use of shareholder capital.

Gogo Inc. (GOGO) had negative free cash flow of $289.9M in fiscal year 2024, likely due to heavy capital investments.

Industry Metrics

Gogo Inc. (GOGO) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.

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