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Red Cat Holdings, Inc. (RCAT) 10-Year Financial Performance & Capital Metrics

RCAT • • Industrial / General
TechnologyComputer HardwareDrone & UAV SystemsCommercial & Industrial Drones
AboutRed Cat Holdings, Inc., through its subsidiaries, provides various products, services, and solutions to the drone industry. It offers commercial and government unmanned aerial vehicle technology for reconnaissance, public safety, and inspection applications. The company also provides First Person View (FPV) video goggles; and software and hardware solutions that enable drones to complete inspection services in locations where global positioning systems are not available. In addition, it is involved in the sales of FPV drones and equipment primarily to the consumer marketplace. Red Cat Holdings, Inc.is based in San Juan, Puerto Rico.Show more
  • Revenue $7M -59.2%
  • EBITDA -$37M -122.7%
  • Net Income -$65M -172.0%
  • EPS (Diluted) -0.85 -112.5%
  • Gross Margin -27.96% -235.5%
  • EBITDA Margin -503.65% -446.0%
  • Operating Margin -532.78% -431.6%
  • Net Margin -899.2% -566.8%
  • ROE -139.66% -185.5%
  • ROIC -70.31% -147.3%
  • Debt/Equity 0.04 -24.6%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Momentum leader: RS Rating 90 (top 10%)
  • ✓Strong 5Y sales CAGR of 78.3%

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Shares diluted 28.1% in last year
  • ✗Expensive at 21.6x book value
  • ✗Low asset turnover indicates capital-intensive operations

* 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

10Y67.4%
5Y78.28%
3Y4.21%
TTM-15.03%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-113.34%

EPS CAGR

10Y-
5Y-
3Y-
TTM-61.71%

ROCE

10Y Avg-150.6%
5Y Avg-58.54%
3Y Avg-51.44%
Latest-80.49%

Peer Comparison

Commercial & Industrial Drones
Select Columns
Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
Safety & Leverage
TTM Growth
Famous Investor Metrics
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Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
KITTNauticus Robotics, Inc.13.31M0.97-0.00-72.64%-29.91%
UAVSAgEagle Aerial Systems, Inc.67.94M1.56-0.03-2.54%-153.64%-68.52%
PRZOParaZero Technologies Ltd.28.59M1.35-1.3650.22%-10.78%-261.91%
DPRODraganfly Inc.238.93M9.34-2.120.09%-243.25%-25.67%0.09
AIROAIRO Group Holdings, Inc. Common Stock413.21M13.20-8.52100.99%-125.14%-10.76%5.01%0.09
SPAISafe Pro Group Inc. Common Stock130.87M6.24-12.24136.37%-9.69%-145.44%0.17
RCATRed Cat Holdings, Inc.1.67B14.03-16.51-59.21%-410.21%-25.96%0.04

Profit & Loss

Dec 2015Dec 2016Dec 2017Apr 2019Apr 2020Apr 2021Apr 2022Apr 2023Apr 2024Dec 2024
Sales/Revenue+59.4K203.64K933105.13K403.94K5M6.43M4.62M17.84M7.28M
Revenue Growth %0.41%2.43%-1%111.68%2.84%11.38%0.29%-0.28%2.86%-0.59%
Cost of Goods Sold+49.77K105.9K280351.84K325.38K3.93M5.5M5.46M14.16M9.31M
COGS % of Revenue0.84%0.52%0.3%3.35%0.81%0.79%0.86%1.18%0.79%1.28%
Gross Profit+9.63K97.74K653-246.71K78.56K1.07M925.51K-834.31K3.68M-2.03M
Gross Margin %0.16%0.48%0.7%-2.35%0.19%0.21%0.14%-0.18%0.21%-0.28%
Gross Profit Growth %-0.56%9.14%-0.99%-378.82%1.32%12.62%-0.13%-1.9%5.41%-1.55%
Operating Expenses+248.67K1.66M2.69M751.33K1.71M5.95M13.93M25.5M21.56M36.73M
OpEx % of Revenue4.19%8.13%2881.91%7.15%4.23%1.19%2.17%5.52%1.21%5.05%
Selling, General & Admin23.57K734.75K1.64M384.74K1.22M4.84M9.97M16.82M15.25M26.67M
SG&A % of Revenue0.4%3.61%1757.78%3.66%3.02%0.97%1.55%3.64%0.85%3.67%
Research & Development353.4K860.53K993.93K366.59K488.99K516.08K2.61M5.86M6.29M9.92M
R&D % of Revenue5.95%4.23%1065.31%3.49%1.21%0.1%0.41%1.27%0.35%1.36%
Other Operating Expenses-67.32K60.67K54.88K-1.18M0590.34K1.35M2.83M17.89K139.58K
Operating Income+-239.04K-1.45M-2.69M-751.33K-1.63M-4.88M-13M-26.34M-17.88M-38.76M
Operating Margin %-4.02%-7.13%-2881.21%-7.15%-4.04%-0.98%-2.02%-5.7%-1%-5.33%
Operating Income Growth %0.39%-5.08%-0.85%0.72%-1.17%-1.99%-1.67%-1.03%0.32%-1.17%
EBITDA+-229.59K-1.44M-2.68M-596.62K-1.57M-4.84M-12.74M-25.37M-16.45M-36.64M
EBITDA Margin %-3.86%-7.07%-2867.7%-5.68%-3.89%-0.97%-1.98%-5.49%-0.92%-5.04%
EBITDA Growth %0.39%-5.27%-0.86%0.78%-1.64%-2.08%-1.63%-0.99%0.35%-1.23%
D&A (Non-Cash Add-back)9.45K12.3K12.61K154.71K036.83K264.8K966.07K1.42M2.12M
EBIT-379.92K-3.37M3.1M-2.81M-1.57M-12.01M-11.54M-23.51M-17.46M-38.62M
Net Interest Income+-1.82K-10.4K-376.08K-489.59K-29.19K-1.22M-147.72K-122K-68.61K84.94K
Interest Income03210.59K0000084.94K
Interest Expense104.81K10.4K376.08K500.18K29.19K1.22M147.72K122K68.61K0
Other Income/Expense-1.82K-1.92M3.82M-1.23M28.03K-8.36M1.31M-38.81K-3.65M-24.13M
Pretax Income+-3.55M-3.38M1.13M-751.33K-1.6M-13.24M-11.69M-26.38M-21.53M-62.9M
Pretax Margin %-59.72%-16.58%1209.89%-7.15%-3.97%-2.65%-1.82%-5.71%-1.21%-8.64%
Income Tax+3.31M0-3.82M-670.25K000000
Effective Tax Rate %1%1%1%1%1%1%1%1.07%1.12%1.04%
Net Income+-3.55M-3.38M1.13M-751.33K-1.6M-13.24M-11.69M-28.11M-24.05M-65.42M
Net Margin %-59.72%-16.58%1209.89%-7.15%-3.97%-2.65%-1.82%-6.08%-1.35%-8.99%
Net Income Growth %0.52%0.05%1.33%-1.67%-1.13%-7.26%0.12%-1.4%0.14%-1.72%
Net Income (Continuing)-381.74K-3.38M2.76M-3.31M-1.6M-13.24M-11.69M-26.38M-21.53M-62.9M
Discontinued Operations0000000-1.73M-2.53M-2.53M
Minority Interest0000000000
EPS (Diluted)+-102.87-96.5624.01-2.63-0.12-0.61-0.22-0.50-0.40-0.85
EPS Growth %0.99%0.06%1.25%-1.11%0.95%-4.08%0.64%-1.27%0.2%-1.13%
EPS (Basic)-102.87-96.5624.01-2.70-0.12-0.61-0.22-0.50-0.40-0.85
Diluted Shares Outstanding34.49K34.97K58.08K285.35K13.73M23.66M48.22M53.86M60.12M77.04M
Basic Shares Outstanding34.49K34.97K38.67K277.93K13.73M23.66M48.22M53.86M60.12M76.52M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Apr 2019Apr 2020Apr 2021Apr 2022Apr 2023Apr 2024Dec 2024
Total Current Assets+7.27K499.78K690.52K603.44K318.34K1.64M55.65M32.18M22.4M25.8M
Cash & Short-Term Investments6.65K225.38K559.24K503.44K236.67K277.35K48.88M15.99M6.07M9.15M
Cash Only6.65K225.38K559.24K503.44K236.67K277.35K4.08M3.17M6.07M9.15M
Short-Term Investments00000044.79M12.81M00
Accounts Receivable62403800396.69K913.09K871.53K4.36M489.32K
Days Sales Outstanding3.83-14.87--28.9651.8468.8489.2424.55
Inventory-3K-38-111.33K-11.37K78.65K362.07K3.9M8.92M8.61M13.59M
Days Inventory Outstanding----88.2333.63258.38596.87222.01532.94
Other Current Assets55.31K79.86K0100K3.02K9.37K05.28M2.15M0
Total Non-Current Assets+121.77K83.61K59.63K91.68K2.49M10.05M29.43M28.57M26.14M29.81M
Property, Plant & Equipment21.77K38.73K26.13K91.68K001.53M4.25M3.82M3.37M
Fixed Asset Turnover2.73x5.26x0.04x1.15x--4.20x1.09x4.67x2.16x
Goodwill00002.47M8.02M25.14M17.01M9.09M17.67M
Intangible Assets100K00020K2.03M2.7M6.89M3.79M8.45M
Long-Term Investments0000000250K5.14M5.14M
Other Non-Current Assets044.88K33.5K03.85K3.85K57.03K161.58K4.29M-4.83M
Total Assets+129.04K583.39K750.15K603.44K2.81M11.69M85.08M60.74M48.54M55.6M
Asset Turnover0.46x0.35x0.00x0.17x0.14x0.43x0.08x0.08x0.37x0.13x
Asset Growth %-0.92%3.52%0.29%-0.2%3.65%3.16%6.28%-0.29%-0.2%0.15%
Total Current Liabilities+312.75K34.45K2.41M790.71K829.27K4.67M5.44M4.05M3.65M4.18M
Accounts Payable2.62K34.45K144.66K20.89K249.05K541.9K1.02M1.39M1.58M2.05M
Days Payables Outstanding19.19118.74188.57K21.68279.3850.3367.5793.1740.7580.36
Short-Term Debt161.8K01.56M2.06M118.77K269.05K956.9K922.14K751.57K350K
Deferred Revenue (Current)156K0438.71K-1000K38.42K46.1K437.93K155.99K00
Other Current Liabilities00410.42K-1.3M333.68K2.81M1.65M1.01M53.94K227.48K
Current Ratio0.02x14.51x0.29x0.76x0.38x0.35x10.23x7.94x6.13x6.17x
Quick Ratio0.03x14.51x0.33x0.78x0.29x0.27x9.52x5.74x3.78x2.92x
Cash Conversion Cycle-----12.26242.66572.54270.5477.13
Total Non-Current Liabilities+312.75K5.89M1.7M79.09K450K1.75M1.72M1.93M1.32M1.31M
Long-Term Debt25K000450K1.75M1.72M401.57K00
Capital Lease Obligations000000749.83K1.48M1.32M1.31M
Deferred Tax Liabilities0000000000
Other Non-Current Liabilities287.75K5.89M1.7M79.09K00-749.83K41.81K00
Total Liabilities312.75K5.93M4.11M790.71K1.28M6.43M7.16M5.98M4.97M5.48M
Total Debt+253.5K01.56M2.06M568.77K2.02M3.72M2.97M2.27M1.97M
Net Debt246.86K-225.38K1.01M1.55M332.1K1.74M-360.76K-208.55K-3.8M-7.19M
Debt / Equity----0.37x0.38x0.05x0.05x0.05x0.04x
Debt / EBITDA----------
Net Debt / EBITDA----------
Interest Coverage-2.28x-139.66x-7.15x-1.50x-55.85x-3.98x-88.02x-215.88x-260.55x-
Total Equity+-183.71K-5.34M-3.36M-187.27K1.53M5.27M77.92M54.77M43.56M50.12M
Equity Growth %-1.15%-28.08%0.37%0.94%9.16%2.44%13.8%-0.3%-0.2%0.15%
Book Value per Share-5.33-152.79-57.84-0.660.110.221.621.020.720.65
Total Shareholders' Equity-183.71K-5.34M-3.36M-187.27K1.53M5.27M77.92M54.77M43.56M50.12M
Common Stock22.79K44.52K47.27K17920.01K29.43K53.75K54.57K74.29K85.22K
Retained Earnings-24.94M-3.87M-2.74M-971.82K-2.57M-15.81M-27.5M-57.08M-81.13M-124.74M
Treasury Stock0000000000
Accumulated OCI-7.11K-24.3K-36.91K-1.86M00-1.47M-861.12K4.62K0
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Apr 2019Apr 2020Apr 2021Apr 2022Apr 2023Apr 2024Dec 2024
Cash from Operations+-112.54K-1.59M-1.35M-753.39K-811.58K-1.4M-16.02M-29.78M-18.56M-20.54M
Operating CF Margin %-1.89%-7.82%-1448.74%-7.17%-2.01%-0.28%-2.49%-6.44%-1.04%-2.82%
Operating CF Growth %0.48%-13.15%0.15%0.44%-0.08%-0.72%-10.45%-0.86%0.38%-0.11%
Net Income-3.55M-3.38M1.13M-751.33K-1.6M-13.24M-11.69M-28.11M-24.05M-65.42M
Depreciation & Amortization5.11K12.3K12.61K154.71K036.83K264.8K966.07K1.42M2.12M
Stock-Based Compensation00070K269.89K03.29M3.7M3.61M0
Deferred Taxes000-70K000000
Other Non-Cash Items3.46M1.88M-3.28M-84.71K204K11.61M-791.73K-316.03K5.22M42.32M
Working Capital Changes-31.04K-103.01K790.43K-72.06K316.45K188.94K-7.09M-6.02M-4.76M444.21K
Change in Receivables00-38-938161.2K-72.53K-74.32K-288.99K-3.64M3.87M
Change in Inventory00389.97K-623.65K48.76K-60.04K-2.23M-5.71M913.34K-4.65M
Change in Payables2.62K-13.21K314.12K20.89K68.07K13.82K-1.17M00467.92K
Cash from Investing+-22.78K-8.32K86.38K-849.81K46.33K-48.37K-46.6M29.59M13.57M4.24M
Capital Expenditures-22.78K-8.74K0-974.3K00-363.69K-2.45M-259.14K-163.56K
CapEx % of Revenue0.38%0.04%-9.27%-0%0.06%0.53%0.01%0.02%
Acquisitions----------
Investments----------
Other Investing042086.38K125K46.33K0032.04M13.83M4.4M
Cash from Financing+118.27K1.82M1.69M686.5K498.49K1.49M66.43M-633.55K7.8M19.39M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing25K325K01.8K139.51K0-2.7M-26.65K8.41M0
Net Change in Cash----------
Free Cash Flow+-135.32K-1.6M-1.35M-1.73M-811.58K-1.4M-16.38M-32.23M-18.82M-20.7M
FCF Margin %-2.28%-7.86%-1448.74%-16.43%-2.01%-0.28%-2.55%-6.98%-1.06%-2.85%
FCF Growth %0.38%-10.83%0.16%-0.28%0.53%-0.72%-10.71%-0.97%0.42%-0.1%
FCF per Share-3.92-45.77-23.27-6.05-0.06-0.06-0.34-0.60-0.31-0.27
FCF Conversion (FCF/Net Income)0.03x0.47x-1.20x1.00x0.51x0.11x1.37x1.06x0.77x0.31x
Interest Paid000000164.57K122.1K70.18K0
Taxes Paid0000000000

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-656.08%----238.79%-389.57%-28.11%-42.37%-48.92%-139.66%
Return on Invested Capital (ROIC)-23.2%---41.26%-75.77%-82.45%-23.06%-29.9%-28.43%-70.31%
Gross Margin16.22%48%69.99%-234.68%19.45%21.4%14.4%-18.06%20.64%-27.96%
Net Margin-5971.98%-1658.21%120988.96%-714.68%-396.58%-264.75%-181.82%-608.27%-134.85%-899.2%
Debt / Equity----0.37x0.38x0.05x0.05x0.05x0.04x
Interest Coverage-2.28x-139.66x-7.15x-1.50x-55.85x-3.98x-88.02x-215.88x-260.55x-
FCF Conversion0.03x0.47x-1.20x1.00x0.51x0.11x1.37x1.06x0.77x0.31x
Revenue Growth41.12%242.81%-99.54%11167.85%284.23%1137.69%28.59%-28.12%286%-59.21%

Revenue by Segment

2023
Corporate and Other9.91M
Corporate and Other Growth-
Consumer5.29M
Consumer Growth-
Others4.62M
Others Growth-

Frequently Asked Questions

Growth & Financials

Red Cat Holdings, Inc. (RCAT) reported $16.0M in revenue for fiscal year 2025.

Red Cat Holdings, Inc. (RCAT) saw revenue decline by 59.2% over the past year.

Red Cat Holdings, Inc. (RCAT) reported a net loss of $65.8M for fiscal year 2025.

Dividend & Returns

Red Cat Holdings, Inc. (RCAT) has a return on equity (ROE) of -139.7%. Negative ROE indicates the company is unprofitable.

Red Cat Holdings, Inc. (RCAT) had negative free cash flow of $64.1M in fiscal year 2025, likely due to heavy capital investments.

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