Virgin Galactic Holdings, Inc. (SPCE) 10-Year Financial Performance & Capital Metrics

SPCE • • Industrial / General

IndustrialsAerospace & DefenseSpace Systems & Launch ServicesSpacecraft & Satellite Systems

AboutVirgin 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. The company serves private individuals, researchers, and government agencies. Virgin Galactic Holdings, Inc. was founded in 2017 is headquartered in Las Cruces, New Mexico. Virgin Galactic Holdings, Inc. was a former subsidiary of Virgin Orbit Holdings, Inc.Show more

Revenue $7M +3.5%
EBITDA -$361M +30.3%
Net Income -$347M +31.0%
EPS (Diluted) -13.89 +53.4%
Gross Margin -1179.48% -83.4%
EBITDA Margin -5133.06% +32.6%
Operating Margin -5352.89% +31.5%
Net Margin -4928.08% +33.3%
ROE -83.78% +17.8%
ROIC -42.05% +24.4%
Debt/Equity 1.30 +34.2%
Interest Coverage -29.14 +29.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 13.2%
✓Trading at only 0.2x book value

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Shares diluted 48.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y13.23%

3Y28.81%

TTM-82.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM21.83%

EPS CAGR

10Y-

5Y-

3Y-

TTM56.42%

ROCE

10Y Avg-36.4%

5Y Avg-47.02%

3Y Avg-49.69%

Latest-41.73%

Peer Comparison

Spacecraft & Satellite Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KRMNKarman Holdings Inc.	14.22B	107.49	1118.52	22.99%	2.65%	3.07%	0.08%	2.29
SPCEVirgin Galactic Holdings, Inc.	224.51M	3.07	-0.22	3.47%	-176.16%	-129.53%		1.30
SIDUSidus Space, Inc.	202.7M	3.11	-0.87	-21.64%	-6.55%	-99.03%		0.43
LUNRIntuitive Machines, Inc.	2.5B	17.57	-3.79	186.72%	-94.7%	-85.57%		9.53
RDWRedwire Corporation	1.67B	10.14	-4.31	24.73%	-70.32%	-22.44%
VOYGVoyager Technologies, Inc.	1.64B	31.24	-21.69	5.97%	-59.62%	-14.46%		1.64
PLPlanet Labs PBC	7.41B	25.32	-60.29	10.72%	-34.46%	-20.76%		0.05

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.75M	2.85M	3.78M	238K	3.29M	2.31M	6.8M	7.04M
Revenue Growth %	-	0.62%	0.33%	-0.94%	12.83%	-0.3%	1.94%	0.03%
Cost of Goods Sold+	488K	1.34M	2M	173K	272K	1.91M	50.54M	90.02M
COGS % of Revenue	0.28%	0.47%	0.53%	0.73%	0.08%	0.82%	7.43%	12.79%
Gross Profit+	1.27M	1.51M	1.78M	65K	3.02M	406K	-43.74M	-82.99M
Gross Margin %	0.72%	0.53%	0.47%	0.27%	0.92%	0.18%	-6.43%	-11.79%
Gross Profit Growth %	-	0.19%	0.18%	-0.96%	45.46%	-0.87%	-108.73%	-0.9%
Operating Expenses+	140M	1.34M	215.04M	275.35M	322.56M	500.39M	487.77M	293.64M
OpEx % of Revenue	79.82%	0.47%	56.87%	1156.93%	97.98%	216.43%	71.73%	41.73%
Selling, General & Admin	610.63K	46.3M	82.17M	111.2M	173.18M	175.12M	174.86M	125.5M
SG&A % of Revenue	0.35%	16.25%	21.73%	467.24%	52.61%	75.74%	25.72%	17.84%
Research & Development	93.08M	116.73M	132.87M	154.37M	149.38M	314.17M	295.14M	152.68M
R&D % of Revenue	53.07%	40.97%	35.14%	648.59%	45.38%	135.89%	43.4%	21.7%
Other Operating Expenses	140M	1.34M	128K	9.78M	182K	11.1M	17.77M	15.47M
Operating Income+	-140M	-1.34M	-213.26M	-275.28M	-319.54M	-499.98M	-531.51M	-376.63M
Operating Margin %	-79.82%	-0.47%	-56.4%	-1156.66%	-97.06%	-216.26%	-78.16%	-53.53%
Operating Income Growth %	-	0.99%	-157.69%	-0.29%	-0.16%	-0.56%	-0.06%	0.29%
EBITDA+	-135.45M	4.46M	-206.26M	-265.5M	-308.02M	-488.89M	-518.14M	-361.16M
EBITDA Margin %	-77.22%	1.57%	-54.55%	-1115.56%	-93.57%	-211.46%	-76.2%	-51.33%
EBITDA Growth %	-	1.03%	-47.22%	-0.29%	-0.16%	-0.59%	-0.06%	0.3%
D&A (Non-Cash Add-back)	4.55M	5.81M	7M	9.78M	11.52M	11.1M	13.37M	15.47M
EBIT	-138.71M	-137.98M	-213.26M	-644.85M	-352.79M	-487.42M	-489.01M	-333.74M
Net Interest Income+	0	623K	2.26M	2.24M	1.18M	372K	29.36M	29.43M
Interest Income	0	633K	2.3M	2.28M	1.21M	12.5M	42.23M	42.35M
Interest Expense	0	10K	36K	36K	25K	12.13M	12.87M	12.93M
Other Income/Expense	140.04M	29.19M	2.39M	-369.6M	-33.28M	430K	29.63M	29.96M
Pretax Income+	1.33M	10.97M	-210.87M	-644.88M	-352.82M	-499.55M	-501.88M	-346.67M
Pretax Margin %	0.76%	3.85%	-55.77%	-2709.58%	-107.17%	-216.07%	-73.81%	-49.27%
Income Tax+	155K	-24.62M	62K	6K	79K	598K	453K	74K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	1.33M	10.97M	-210.94M	-644.89M	-352.9M	-500.15M	-502.34M	-346.74M
Net Margin %	0.76%	3.85%	-55.79%	-2709.61%	-107.2%	-216.33%	-73.87%	-49.28%
Net Income Growth %	-	7.24%	-20.24%	-2.06%	0.45%	-0.42%	-0%	0.31%
Net Income (Continuing)	1.33M	-138.14M	-210.94M	-644.89M	-352.9M	-500.15M	-502.34M	-346.74M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.01	1.13	-21.70	-24.92	-28.50	-37.80	-29.80	-13.89
EPS Growth %	-	-	-20.2%	-0.15%	-0.14%	-0.33%	0.21%	0.53%
EPS (Basic)	0.01	1.13	-21.77	-24.92	-28.50	-37.80	-29.80	-13.89
Diluted Shares Outstanding	194.38M	9.68M	9.72M	10.96M	12.38M	13.2M	16.86M	24.95M
Basic Shares Outstanding	194.38M	9.68M	9.69M	10.96M	12.38M	13.2M	16.86M	24.95M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.63M	507.5K	536.67M	727.93M	678.59M	1B	950.83M	627.94M
Cash & Short-Term Investments	696.38K	462.16K	480.44M	665.92M	629.45M	909.01M	874.04M	563.23M
Cash Only	696.38K	462.16K	480.44M	665.92M	550.03M	302.29M	216.8M	178.6M
Short-Term Investments	0	0	0	0	79.42M	606.72M	657.24M	384.62M
Accounts Receivable	657.14K	0	461K	0	2.3M	0	0	0
Days Sales Outstanding	136.75	-	44.5	-	255.01	-	-	-
Inventory	10.17M	23.29M	26.82M	30.48M	29.67M	24.04M	0	0
Days Inventory Outstanding	7.6K	6.32K	4.88K	64.31K	39.81K	4.6K	-	-
Other Current Assets	0	0	12.28M	13.03M	17.18M	44.84M	76.79M	64.71M
Total Non-Current Assets+	691.94M	704.25M	68.88M	76.06M	390.24M	138.32M	228.69M	333.29M
Property, Plant & Equipment	28.17M	34.21M	66.26M	72.7M	82.98M	102.12M	152.33M	209.11M
Fixed Asset Turnover	0.06x	0.08x	0.06x	0.00x	0.04x	0.02x	0.04x	0.03x
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0
Long-Term Investments	691.94M	704.25M	0	0	301.46M	30.39M	71.6M	61.28M
Other Non-Current Assets	-28.17M	-34.21M	2.62M	3.36M	5.79M	5.81M	4.76M	62.9M
Total Assets+	693.57M	704.76M	605.55M	803.99M	1.07B	1.14B	1.18B	961.23M
Asset Turnover	0.00x	0.00x	0.01x	0.00x	0.00x	0.00x	0.01x	0.01x
Asset Growth %	-	0.02%	-0.14%	0.33%	0.33%	0.07%	0.03%	-0.19%
Total Current Liabilities+	356.53K	582.2K	115.84M	115.02M	131.52M	184.05M	185.66M	150.01M
Accounts Payable	230.15K	200.53K	7.04M	6M	9.24M	16.33M	32.41M	3.7M
Days Payables Outstanding	172.14	54.46	1.28K	12.65K	12.4K	3.13K	234.11	14.99
Short-Term Debt	0	381.68K	0	310K	2.51M	0	0	0
Deferred Revenue (Current)	-356.53K	-582.2K	1000K	0	0	0	0	1000K
Other Current Liabilities	-87K	-381.68K	0	83.35M	97.97M	102.86M	107.22M	12.29M
Current Ratio	4.56x	0.87x	4.63x	6.33x	5.16x	5.44x	5.12x	4.19x
Quick Ratio	-23.95x	-39.13x	4.40x	6.06x	4.93x	5.31x	5.12x	4.19x
Cash Conversion Cycle	7.57K	-	3.65K	-	27.67K	-	-	-
Total Non-Current Liabilities+	24.15M	24.15M	22.14M	161.89M	43.05M	475.66M	488.38M	488.94M
Long-Term Debt	0	0	0	310K	0	415.72M	417.89M	420.12M
Capital Lease Obligations	56K	0	22.14M	24.15M	39.97M	56.65M	68.86M	0
Deferred Tax Liabilities	-24.21M	0	0	0	0	0	0	0
Other Non-Current Liabilities	24.09M	24.15M	0	137.43M	3.08M	3.3M	1.63M	68.81M
Total Liabilities	24.51M	24.73M	137.99M	276.91M	174.57M	659.72M	674.04M	638.95M
Total Debt+	126.38K	381.68K	24.54M	27.15M	42.48M	475.38M	491.1M	420.12M
Net Debt	-570K	-80.49K	-455.9M	-638.77M	-507.55M	173.09M	274.3M	241.51M
Debt / Equity	0.00x	0.00x	0.05x	0.05x	0.05x	0.99x	0.97x	1.30x
Debt / EBITDA	-	0.09x	-	-	-	-	-	-
Net Debt / EBITDA	-	-0.02x	-	-	-	-	-	-
Interest Coverage	-	-134.39x	-5923.94x	-7646.78x	-12781.40x	-41.22x	-41.29x	-29.14x
Total Equity+	669.06M	680.03M	467.56M	527.08M	894.26M	480.22M	505.48M	322.28M
Equity Growth %	-	0.02%	-0.31%	0.13%	0.7%	-0.46%	0.05%	-0.36%
Book Value per Share	3.44	70.23	48.11	48.11	72.23	36.39	29.98	12.91
Total Shareholders' Equity	669.06M	680.03M	467.56M	527.08M	894.26M	480.22M	505.48M	322.28M
Common Stock	664.06M	675.03M	20K	23K	26K	28K	2K	3K
Retained Earnings	1.33M	5M	-121.68M	-770.74M	-1.12B	-1.62B	-2.13B	-2.47B
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	134K	41.56M	59K	5K	-1.87M	-7.33M	371K	278K
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-652.7K	-1.15M	-203.56M	-233.16M	-230.76M	-380.24M	-448.19M	-352.7M
Operating CF Margin %	-0.37%	-0.4%	-53.84%	-979.66%	-70.1%	-164.46%	-65.91%	-50.13%
Operating CF Growth %	-	-0.76%	-176.52%	-0.15%	0.01%	-0.65%	-0.18%	0.21%
Net Income	1.33M	10.97M	-210.94M	-644.89M	-352.9M	-500.15M	-502.34M	-346.74M
Depreciation & Amortization	4.55M	5.81M	7M	9.78M	11.52M	11.1M	13.37M	15.47M
Stock-Based Compensation	0	0	2.54M	30.32M	61.8M	45.71M	44.26M	29.75M
Deferred Taxes	0	0	0	0	0	0	0	0
Other Non-Cash Items	-1.94M	-12.31M	-38K	371.95M	34.66M	12.8M	-11.41M	-12.94M
Working Capital Changes	-42.06K	197.25K	-2.12M	-325K	14.15M	50.31M	7.93M	-38.24M
Change in Receivables	138K	-2.2M	819K	-944K	0	0	0	0
Change in Inventory	-1.19M	-13.12M	-3.53M	1.37M	815K	5.63M	4.76M	0
Change in Payables	230.15M	-29.62K	-1.89M	0	0	0	8.63M	-29.2M
Cash from Investing+	-690M	-10.59M	-19.41M	-17.2M	-387.52M	-286.17M	-116.27M	175.66M
Capital Expenditures	-5.6M	-10.59M	-19.41M	-17.2M	-4.63M	-16.49M	-44.31M	-121.86M
CapEx % of Revenue	3.19%	3.72%	5.13%	72.27%	1.41%	7.13%	6.52%	17.32%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	-684M	0	0	0	0	0	0	610K
Cash from Financing+	691.35M	912.43K	634.32M	436.59M	489.36M	459M	475.43M	134.34M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	126.38K	156.68M	558.11M	-23.17M	-10.19M	-68.78M	-8.48M	-3.26M
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	-6.25M	-11.74M	-222.97M	-250.36M	-235.4M	-396.73M	-492.5M	-474.56M
FCF Margin %	-3.56%	-4.12%	-58.97%	-1051.93%	-71.51%	-171.6%	-72.43%	-67.45%
FCF Growth %	-	-0.88%	-18%	-0.12%	0.06%	-0.69%	-0.24%	0.04%
FCF per Share	-0.03	-1.21	-22.94	-22.85	-19.01	-30.06	-29.21	-19.02
FCF Conversion (FCF/Net Income)	-0.49x	-0.10x	0.97x	0.36x	0.65x	0.76x	0.89x	1.02x
Interest Paid	0	0	0	0	0	5.67M	15.94M	10.63M
Taxes Paid	0	0	0	102K	109K	80K	658K	329K

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	0.2%	1.63%	-36.76%	-129.67%	-49.66%	-72.78%	-101.92%	-83.78%
Return on Invested Capital (ROIC)	-15.71%	-0.15%	-46.25%	-	-174.28%	-72.11%	-55.63%	-42.05%
Gross Margin	72.18%	52.83%	47%	27.31%	91.74%	17.56%	-643.21%	-1179.48%
Net Margin	75.87%	384.87%	-5578.82%	-270960.92%	-10719.9%	-21632.87%	-7387.31%	-4928.08%
Debt / Equity	0.00x	0.00x	0.05x	0.05x	0.05x	0.99x	0.97x	1.30x
Interest Coverage	-	-134.39x	-5923.94x	-7646.78x	-12781.40x	-41.22x	-41.29x	-29.14x
FCF Conversion	-0.49x	-0.10x	0.97x	0.36x	0.65x	0.76x	0.89x	1.02x
Revenue Growth	-	62.43%	32.71%	-93.71%	1283.19%	-29.77%	194.12%	3.47%

Revenue by Segment

	2019	2020
Technology Service	2.8M	200K
Technology Service Growth	-	-92.86%
Spaceflight Operations	800K	-
Spaceflight Operations Growth	-	-
Sponsorship Revenue	200K	-
Sponsorship Revenue Growth	-	-

Frequently Asked Questions

Growth & Financials

Virgin Galactic Holdings, Inc. (SPCE) reported $1.7M in revenue for fiscal year 2024. This represents a 5% decrease from $1.8M in 2017.

Virgin Galactic Holdings, Inc. (SPCE) grew revenue by 3.5% over the past year. Growth has been modest.

Virgin Galactic Holdings, Inc. (SPCE) reported a net loss of $292.6M for fiscal year 2024.

Dividend & Returns

Virgin Galactic Holdings, Inc. (SPCE) has a return on equity (ROE) of -83.8%. Negative ROE indicates the company is unprofitable.

Virgin Galactic Holdings, Inc. (SPCE) had negative free cash flow of $460.3M in fiscal year 2024, likely due to heavy capital investments.

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Virgin Galactic Holdings, Inc. (SPCE) 10-Year Financial Performance & Capital Metrics

SPCE • • Industrial / General

IndustrialsAerospace & DefenseSpace Systems & Launch ServicesSpacecraft & Satellite Systems

Revenue $7M +3.5%
EBITDA -$361M +30.3%
Net Income -$347M +31.0%
EPS (Diluted) -13.89 +53.4%
Gross Margin -1179.48% -83.4%
EBITDA Margin -5133.06% +32.6%
Operating Margin -5352.89% +31.5%
Net Margin -4928.08% +33.3%
ROE -83.78% +17.8%
ROIC -42.05% +24.4%
Debt/Equity 1.30 +34.2%
Interest Coverage -29.14 +29.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 13.2%
✓Trading at only 0.2x book value

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Shares diluted 48.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y13.23%

3Y28.81%

TTM-82.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM21.83%

EPS CAGR

10Y-

5Y-

3Y-

TTM56.42%

ROCE

10Y Avg-36.4%

5Y Avg-47.02%

3Y Avg-49.69%

Latest-41.73%

Peer Comparison

Spacecraft & Satellite Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KRMNKarman Holdings Inc.	14.22B	107.49	1118.52	22.99%	2.65%	3.07%	0.08%	2.29
SPCEVirgin Galactic Holdings, Inc.	224.51M	3.07	-0.22	3.47%	-176.16%	-129.53%		1.30
SIDUSidus Space, Inc.	202.7M	3.11	-0.87	-21.64%	-6.55%	-99.03%		0.43
LUNRIntuitive Machines, Inc.	2.5B	17.57	-3.79	186.72%	-94.7%	-85.57%		9.53
RDWRedwire Corporation	1.67B	10.14	-4.31	24.73%	-70.32%	-22.44%
VOYGVoyager Technologies, Inc.	1.64B	31.24	-21.69	5.97%	-59.62%	-14.46%		1.64
PLPlanet Labs PBC	7.41B	25.32	-60.29	10.72%	-34.46%	-20.76%		0.05

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.75M	2.85M	3.78M	238K	3.29M	2.31M	6.8M	7.04M
Revenue Growth %	-	0.62%	0.33%	-0.94%	12.83%	-0.3%	1.94%	0.03%
Cost of Goods Sold+	488K	1.34M	2M	173K	272K	1.91M	50.54M	90.02M
COGS % of Revenue	0.28%	0.47%	0.53%	0.73%	0.08%	0.82%	7.43%	12.79%
Gross Profit+	1.27M	1.51M	1.78M	65K	3.02M	406K	-43.74M	-82.99M
Gross Margin %	0.72%	0.53%	0.47%	0.27%	0.92%	0.18%	-6.43%	-11.79%
Gross Profit Growth %	-	0.19%	0.18%	-0.96%	45.46%	-0.87%	-108.73%	-0.9%
Operating Expenses+	140M	1.34M	215.04M	275.35M	322.56M	500.39M	487.77M	293.64M
OpEx % of Revenue	79.82%	0.47%	56.87%	1156.93%	97.98%	216.43%	71.73%	41.73%
Selling, General & Admin	610.63K	46.3M	82.17M	111.2M	173.18M	175.12M	174.86M	125.5M
SG&A % of Revenue	0.35%	16.25%	21.73%	467.24%	52.61%	75.74%	25.72%	17.84%
Research & Development	93.08M	116.73M	132.87M	154.37M	149.38M	314.17M	295.14M	152.68M
R&D % of Revenue	53.07%	40.97%	35.14%	648.59%	45.38%	135.89%	43.4%	21.7%
Other Operating Expenses	140M	1.34M	128K	9.78M	182K	11.1M	17.77M	15.47M
Operating Income+	-140M	-1.34M	-213.26M	-275.28M	-319.54M	-499.98M	-531.51M	-376.63M
Operating Margin %	-79.82%	-0.47%	-56.4%	-1156.66%	-97.06%	-216.26%	-78.16%	-53.53%
Operating Income Growth %	-	0.99%	-157.69%	-0.29%	-0.16%	-0.56%	-0.06%	0.29%
EBITDA+	-135.45M	4.46M	-206.26M	-265.5M	-308.02M	-488.89M	-518.14M	-361.16M
EBITDA Margin %	-77.22%	1.57%	-54.55%	-1115.56%	-93.57%	-211.46%	-76.2%	-51.33%
EBITDA Growth %	-	1.03%	-47.22%	-0.29%	-0.16%	-0.59%	-0.06%	0.3%
D&A (Non-Cash Add-back)	4.55M	5.81M	7M	9.78M	11.52M	11.1M	13.37M	15.47M
EBIT	-138.71M	-137.98M	-213.26M	-644.85M	-352.79M	-487.42M	-489.01M	-333.74M
Net Interest Income+	0	623K	2.26M	2.24M	1.18M	372K	29.36M	29.43M
Interest Income	0	633K	2.3M	2.28M	1.21M	12.5M	42.23M	42.35M
Interest Expense	0	10K	36K	36K	25K	12.13M	12.87M	12.93M
Other Income/Expense	140.04M	29.19M	2.39M	-369.6M	-33.28M	430K	29.63M	29.96M
Pretax Income+	1.33M	10.97M	-210.87M	-644.88M	-352.82M	-499.55M	-501.88M	-346.67M
Pretax Margin %	0.76%	3.85%	-55.77%	-2709.58%	-107.17%	-216.07%	-73.81%	-49.27%
Income Tax+	155K	-24.62M	62K	6K	79K	598K	453K	74K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	1.33M	10.97M	-210.94M	-644.89M	-352.9M	-500.15M	-502.34M	-346.74M
Net Margin %	0.76%	3.85%	-55.79%	-2709.61%	-107.2%	-216.33%	-73.87%	-49.28%
Net Income Growth %	-	7.24%	-20.24%	-2.06%	0.45%	-0.42%	-0%	0.31%
Net Income (Continuing)	1.33M	-138.14M	-210.94M	-644.89M	-352.9M	-500.15M	-502.34M	-346.74M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.01	1.13	-21.70	-24.92	-28.50	-37.80	-29.80	-13.89
EPS Growth %	-	-	-20.2%	-0.15%	-0.14%	-0.33%	0.21%	0.53%
EPS (Basic)	0.01	1.13	-21.77	-24.92	-28.50	-37.80	-29.80	-13.89
Diluted Shares Outstanding	194.38M	9.68M	9.72M	10.96M	12.38M	13.2M	16.86M	24.95M
Basic Shares Outstanding	194.38M	9.68M	9.69M	10.96M	12.38M	13.2M	16.86M	24.95M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.63M	507.5K	536.67M	727.93M	678.59M	1B	950.83M	627.94M
Cash & Short-Term Investments	696.38K	462.16K	480.44M	665.92M	629.45M	909.01M	874.04M	563.23M
Cash Only	696.38K	462.16K	480.44M	665.92M	550.03M	302.29M	216.8M	178.6M
Short-Term Investments	0	0	0	0	79.42M	606.72M	657.24M	384.62M
Accounts Receivable	657.14K	0	461K	0	2.3M	0	0	0
Days Sales Outstanding	136.75	-	44.5	-	255.01	-	-	-
Inventory	10.17M	23.29M	26.82M	30.48M	29.67M	24.04M	0	0
Days Inventory Outstanding	7.6K	6.32K	4.88K	64.31K	39.81K	4.6K	-	-
Other Current Assets	0	0	12.28M	13.03M	17.18M	44.84M	76.79M	64.71M
Total Non-Current Assets+	691.94M	704.25M	68.88M	76.06M	390.24M	138.32M	228.69M	333.29M
Property, Plant & Equipment	28.17M	34.21M	66.26M	72.7M	82.98M	102.12M	152.33M	209.11M
Fixed Asset Turnover	0.06x	0.08x	0.06x	0.00x	0.04x	0.02x	0.04x	0.03x
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0
Long-Term Investments	691.94M	704.25M	0	0	301.46M	30.39M	71.6M	61.28M
Other Non-Current Assets	-28.17M	-34.21M	2.62M	3.36M	5.79M	5.81M	4.76M	62.9M
Total Assets+	693.57M	704.76M	605.55M	803.99M	1.07B	1.14B	1.18B	961.23M
Asset Turnover	0.00x	0.00x	0.01x	0.00x	0.00x	0.00x	0.01x	0.01x
Asset Growth %	-	0.02%	-0.14%	0.33%	0.33%	0.07%	0.03%	-0.19%
Total Current Liabilities+	356.53K	582.2K	115.84M	115.02M	131.52M	184.05M	185.66M	150.01M
Accounts Payable	230.15K	200.53K	7.04M	6M	9.24M	16.33M	32.41M	3.7M
Days Payables Outstanding	172.14	54.46	1.28K	12.65K	12.4K	3.13K	234.11	14.99
Short-Term Debt	0	381.68K	0	310K	2.51M	0	0	0
Deferred Revenue (Current)	-356.53K	-582.2K	1000K	0	0	0	0	1000K
Other Current Liabilities	-87K	-381.68K	0	83.35M	97.97M	102.86M	107.22M	12.29M
Current Ratio	4.56x	0.87x	4.63x	6.33x	5.16x	5.44x	5.12x	4.19x
Quick Ratio	-23.95x	-39.13x	4.40x	6.06x	4.93x	5.31x	5.12x	4.19x
Cash Conversion Cycle	7.57K	-	3.65K	-	27.67K	-	-	-
Total Non-Current Liabilities+	24.15M	24.15M	22.14M	161.89M	43.05M	475.66M	488.38M	488.94M
Long-Term Debt	0	0	0	310K	0	415.72M	417.89M	420.12M
Capital Lease Obligations	56K	0	22.14M	24.15M	39.97M	56.65M	68.86M	0
Deferred Tax Liabilities	-24.21M	0	0	0	0	0	0	0
Other Non-Current Liabilities	24.09M	24.15M	0	137.43M	3.08M	3.3M	1.63M	68.81M
Total Liabilities	24.51M	24.73M	137.99M	276.91M	174.57M	659.72M	674.04M	638.95M
Total Debt+	126.38K	381.68K	24.54M	27.15M	42.48M	475.38M	491.1M	420.12M
Net Debt	-570K	-80.49K	-455.9M	-638.77M	-507.55M	173.09M	274.3M	241.51M
Debt / Equity	0.00x	0.00x	0.05x	0.05x	0.05x	0.99x	0.97x	1.30x
Debt / EBITDA	-	0.09x	-	-	-	-	-	-
Net Debt / EBITDA	-	-0.02x	-	-	-	-	-	-
Interest Coverage	-	-134.39x	-5923.94x	-7646.78x	-12781.40x	-41.22x	-41.29x	-29.14x
Total Equity+	669.06M	680.03M	467.56M	527.08M	894.26M	480.22M	505.48M	322.28M
Equity Growth %	-	0.02%	-0.31%	0.13%	0.7%	-0.46%	0.05%	-0.36%
Book Value per Share	3.44	70.23	48.11	48.11	72.23	36.39	29.98	12.91
Total Shareholders' Equity	669.06M	680.03M	467.56M	527.08M	894.26M	480.22M	505.48M	322.28M
Common Stock	664.06M	675.03M	20K	23K	26K	28K	2K	3K
Retained Earnings	1.33M	5M	-121.68M	-770.74M	-1.12B	-1.62B	-2.13B	-2.47B
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	134K	41.56M	59K	5K	-1.87M	-7.33M	371K	278K
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-652.7K	-1.15M	-203.56M	-233.16M	-230.76M	-380.24M	-448.19M	-352.7M
Operating CF Margin %	-0.37%	-0.4%	-53.84%	-979.66%	-70.1%	-164.46%	-65.91%	-50.13%
Operating CF Growth %	-	-0.76%	-176.52%	-0.15%	0.01%	-0.65%	-0.18%	0.21%
Net Income	1.33M	10.97M	-210.94M	-644.89M	-352.9M	-500.15M	-502.34M	-346.74M
Depreciation & Amortization	4.55M	5.81M	7M	9.78M	11.52M	11.1M	13.37M	15.47M
Stock-Based Compensation	0	0	2.54M	30.32M	61.8M	45.71M	44.26M	29.75M
Deferred Taxes	0	0	0	0	0	0	0	0
Other Non-Cash Items	-1.94M	-12.31M	-38K	371.95M	34.66M	12.8M	-11.41M	-12.94M
Working Capital Changes	-42.06K	197.25K	-2.12M	-325K	14.15M	50.31M	7.93M	-38.24M
Change in Receivables	138K	-2.2M	819K	-944K	0	0	0	0
Change in Inventory	-1.19M	-13.12M	-3.53M	1.37M	815K	5.63M	4.76M	0
Change in Payables	230.15M	-29.62K	-1.89M	0	0	0	8.63M	-29.2M
Cash from Investing+	-690M	-10.59M	-19.41M	-17.2M	-387.52M	-286.17M	-116.27M	175.66M
Capital Expenditures	-5.6M	-10.59M	-19.41M	-17.2M	-4.63M	-16.49M	-44.31M	-121.86M
CapEx % of Revenue	3.19%	3.72%	5.13%	72.27%	1.41%	7.13%	6.52%	17.32%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	-684M	0	0	0	0	0	0	610K
Cash from Financing+	691.35M	912.43K	634.32M	436.59M	489.36M	459M	475.43M	134.34M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	126.38K	156.68M	558.11M	-23.17M	-10.19M	-68.78M	-8.48M	-3.26M
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	-6.25M	-11.74M	-222.97M	-250.36M	-235.4M	-396.73M	-492.5M	-474.56M
FCF Margin %	-3.56%	-4.12%	-58.97%	-1051.93%	-71.51%	-171.6%	-72.43%	-67.45%
FCF Growth %	-	-0.88%	-18%	-0.12%	0.06%	-0.69%	-0.24%	0.04%
FCF per Share	-0.03	-1.21	-22.94	-22.85	-19.01	-30.06	-29.21	-19.02
FCF Conversion (FCF/Net Income)	-0.49x	-0.10x	0.97x	0.36x	0.65x	0.76x	0.89x	1.02x
Interest Paid	0	0	0	0	0	5.67M	15.94M	10.63M
Taxes Paid	0	0	0	102K	109K	80K	658K	329K

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	0.2%	1.63%	-36.76%	-129.67%	-49.66%	-72.78%	-101.92%	-83.78%
Return on Invested Capital (ROIC)	-15.71%	-0.15%	-46.25%	-	-174.28%	-72.11%	-55.63%	-42.05%
Gross Margin	72.18%	52.83%	47%	27.31%	91.74%	17.56%	-643.21%	-1179.48%
Net Margin	75.87%	384.87%	-5578.82%	-270960.92%	-10719.9%	-21632.87%	-7387.31%	-4928.08%
Debt / Equity	0.00x	0.00x	0.05x	0.05x	0.05x	0.99x	0.97x	1.30x
Interest Coverage	-	-134.39x	-5923.94x	-7646.78x	-12781.40x	-41.22x	-41.29x	-29.14x
FCF Conversion	-0.49x	-0.10x	0.97x	0.36x	0.65x	0.76x	0.89x	1.02x
Revenue Growth	-	62.43%	32.71%	-93.71%	1283.19%	-29.77%	194.12%	3.47%

Revenue by Segment

	2019	2020
Technology Service	2.8M	200K
Technology Service Growth	-	-92.86%
Spaceflight Operations	800K	-
Spaceflight Operations Growth	-	-
Sponsorship Revenue	200K	-
Sponsorship Revenue Growth	-	-

Frequently Asked Questions

Growth & Financials

Virgin Galactic Holdings, Inc. (SPCE) reported $1.7M in revenue for fiscal year 2024. This represents a 5% decrease from $1.8M in 2017.

Virgin Galactic Holdings, Inc. (SPCE) grew revenue by 3.5% over the past year. Growth has been modest.

Virgin Galactic Holdings, Inc. (SPCE) reported a net loss of $292.6M for fiscal year 2024.

Dividend & Returns

Virgin Galactic Holdings, Inc. (SPCE) has a return on equity (ROE) of -83.8%. Negative ROE indicates the company is unprofitable.

Virgin Galactic Holdings, Inc. (SPCE) had negative free cash flow of $460.3M in fiscal year 2024, likely due to heavy capital investments.