Virgin Galactic Holdings, Inc. Financial Ratios — SPCE Stock

Profitability (USD)

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	-20.48	-42.05	-148.2	-49.66	-72.78	-101.93	-83.78	-93.55
Return on Assets (%)	- -	-19.76	-32.83	-91.5	-37.69	-45.29	-43.32	-32.39	-31.61
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	57.84	47	27.31	91.74	17.56	-643.21	-1,179.48	-4,613.02
EBITDA Margin (%)	- -	-5,664.41	-5,455.25	-111,555.88	-9,356.53	-21,145.59	-7,555.03	-5,133.06	-17,413.08
Operating Margin (%)	- -	-5,868.23	-5,640.36	-115,665.55	-9,706.41	-21,625.61	-7,751.63	-5,352.89	-18,480.76
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	-4,843.52	-5,687.73	-270,958.4	-10,717.5	-21,607.01	-7,380.65	-4,927.03	-18,060.56
Profit Margin (%)	- -	-4,848.68	-5,689.37	-270,960.92	-10,719.9	-21,632.87	-7,387.31	-4,928.08	-18,063.92
Net Income to Common Margin (%)	- -	-4,848.68	-5,689.37	-270,960.92	-10,719.9	-21,632.87	-7,387.31	-4,928.08	-18,063.92
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	-20.48	-42.05	-148.2	-49.66	-72.78	-101.93	-83.78	-93.55

Credit (USD)

API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	25	28	- -	416	418	420	324
ST Debt	- -	- -	2	3	- -	- -	- -	- -	48
LT Debt	- -	- -	22	25	- -	416	418	420	276
Total Debt/EBITDA	- -	- -	-0.12	-0.1	- -	-0.85	-0.81	-1.16	-1.21
Net Debt/EBITDA	- -	- -	2.33	2.51	1.7	-0.23	-0.39	-0.67	-0.67
Total Debt/EBIT	- -	- -	-0.12	-0.1	- -	-0.83	-0.79	-1.12	-1.14
Net Debt/EBIT	- -	- -	2.25	2.42	1.64	-0.23	-0.38	-0.64	-0.63
EBITDA to Interest Expense	- -	-16,137.9	-5,729.53	-7,375.08	-12,320.68	-40.3	-39.91	-27.94	-21.03
EBITDA-CapEx/Interest Expense	- -	-16,137.9	-5,729.53	-7,375.08	-12,320.68	-40.3	-39.91	-27.94	-21.03
EBIT to Interest Expense	- -	-16,718.6	-5,923.94	-7,646.78	-12,781.4	-41.22	-40.95	-29.14	-22.32
Interest Expense	- -	- -	- -	- -	- -	12	13	13	13
Common Equity/Total Assets	96.47	96.49	56.68	65.56	83.67	42.13	42.85	33.53	34.11
Long-Term Debt/Equity (%)	- -	- -	6.45	4.69	- -	86.57	82.67	130.36	100.88
Long-Term Debt/Capital (%)	- -	- -	6.02	4.45	- -	46.4	45.26	56.59	46.2
Long-Term Debt/Total Assets (%)	- -	- -	3.66	3.07	- -	36.47	35.43	43.71	34.41
Total Debt/Equity (%)	0.02	0.06	7.15	5.22	- -	86.57	82.67	130.36	118.33
Total Debt/Capital (%)	0.02	0.06	6.67	4.96	- -	46.4	45.26	56.59	54.2
Total Debt/Total Assets (%)	0.02	0.05	4.05	3.42	- -	36.47	35.43	43.71	40.36
Net Debt to Equity	-0.09	-0.01	-139.98	-126.22	-58.65	23.62	39.78	74.94	65.51
Net Debt/Capital (%)	-0.09	-0.01	426.41	597.64	-141.83	19.11	28.46	42.84	39.58
EBITDA	- -	-161	-206	-266	-308	-489	-514	-361	-269
EBITDA-CapEx	- -	-161	-206	-266	-308	-489	-514	-361	-269
Operating Income (Loss)	- -	-167	-213	-275	-320	-500	-527	-377	-285

Liquidity (USD)

API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	1.95	0.79	4.15	5.79	4.59	4.94	4.71	3.75	1.47
Current Ratio	4.56	0.87	4.68	6.33	5.16	5.44	5.12	4.19	1.78
Quick Ratio	3.8	0.79	4.15	5.79	4.59	4.94	4.71	3.75	1.47
CFO/Avg Current Liab	- -	-310.42	-3.59	-2.02	-1.87	-2.41	-2.42	-2.1	-1.34
Common Equity/Total Assets	96.47	96.49	56.68	65.56	83.67	42.13	42.85	33.53	34.11
Long-Term Debt/Equity (%)	- -	- -	6.45	4.69	- -	86.57	82.67	130.36	100.88
Long-Term Debt/Capital (%)	- -	- -	6.02	4.45	- -	46.4	45.26	56.59	46.2
Long-Term Debt/Total Assets (%)	- -	- -	3.66	3.07	- -	36.47	35.43	43.71	34.41
Total Debt/Equity (%)	0.02	0.06	7.15	5.22	- -	86.57	82.67	130.36	118.33
Total Debt/Capital (%)	0.02	0.06	6.67	4.96	- -	46.4	45.26	56.59	54.2
Total Debt/Total Assets (%)	0.02	0.05	4.05	3.42	- -	36.47	35.43	43.71	40.36
CFO/Total Liabilities	- -	-589.12	-79.72	-84.2	-132.19	-57.64	-66.49	-55.2	-45.38
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	102.28	99.67	4.58	10.58	10.03	-1.71	-2.34	-4.11	-5.46

Working Capital (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	- -	16.4	0.51	14.01	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	22.25	713.9	26.06	- -	- -	- -	- -
Inventory Turnover	- -	- -	0.13	0.01	0.01	0.07	2.51	11.05	- -
Days Inventory Outstanding	- -	- -	2,900.97	65,761.18	40,358.67	5,142.84	145.69	33.05	- -
Accounts Payable Turnover	- -	5.58	9.36	-0.18	-0.07	-0.29	1.76	4.08	7.72
Accounts Payable Turnover Days	- -	65.45	39.02	-1,984.21	-5,120.42	-1,254.44	207.85	89.39	47.3
Cash Conversion Cycle	- -	-65.45	2,884.2	68,459.29	45,505.14	6,397.28	-62.16	-56.35	-47.3
Inventory to Cash Days	- -	- -	-2,878.72	-65,047.29	-40,332.61	-5,142.84	-145.69	-33.05	- -
Inventories	- -	- -	32	30	30	24	16	- -	- -
Raw Materials	- -	- -	32	30	30	24	16	- -	- -
Work In Process	- -	- -	4	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	-4	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	4,177	4,140	2,264	5,603	3,454	958	980	194	235
- Cash & Cash Equivalents	1	- -	480	666	524	302	217	179	145
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	25	28	- -	416	418	420	324
Enterprise Value	4,177	4,140	1,808	4,965	2,850	465	524	51	253
Total Capital	669	680	368	555	894	896	923	742	598
Total Debt/Capital (%)	0.02	0.06	6.67	4.96	- -	46.4	45.26	56.59	54.2
Total Debt / EV	- -	- -	0.01	0.01	- -	0.89	0.8	8.25	1.28
EV/Sales	- -	1,453.11	478.16	20,860.56	865.85	201.17	77	7.24	163.56
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	1,937	2,245	5,199	3,313	919	826	147	164
Diluted Enterprise Value	-1	1,937	1,789	4,561	2,789	1,032	1,027	388	344
EV per Share	201.77	200	184.48	420.53	220.82	33.78	26.19	1.54	3.44
TTM Sales	- -	3	4	- -	3	2	7	7	2
TTM EBITDA	- -	-161	-206	-266	-308	-489	-514	-361	-269
TTM Operating Income	- -	-167	-213	-275	-320	-500	-527	-377	-285
TTM Cash Flow to Firm	- -	-146	-209	-233	-231	-368	-435	-340	-227
TTM Free Cash Flow to Firm	- -	-146	-209	-233	-231	-368	-435	-340	-227

Multiples (USD)

API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	-13.29	-10.74	-22.3	-14.36	-2.42	-1.84	-0.42	-0.68
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	4,177	4,140	1,808	4,965	2,850	465	524	51	253
Low Price	197	196.6	138	181.2	257.2	64.9	27.6	5.27	2.18
EV/Sales	- -	1,453.11	478.16	20,860.56	865.85	201.17	77	7.24	163.56
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	-14.01	-9.17	-6.61	-19.88	-3.64	-2.33	-1.2	-0.67
Price/Earnings High	- -	-14.43	-11.68	-14.44	-44.06	-7.25	-4.44	-3.66	-1.24
Price/Earnings Low	- -	-13.78	-6.23	-3.08	-9.02	-1.71	-0.93	-0.38	-0.4
Price/Book Value	6.24	6.09	6.6	10.63	3.86	2	1.94	0.6	0.86
Price/Book Value Average	6.25	6.09	5.8	8.72	8.18	3.96	2.74	1.71	0.97
Price/Book Value High	6.71	6.26	7.38	19.03	18.13	7.88	5.23	5.2	1.8
Price/Book Value Low	6.09	5.98	3.94	4.06	3.71	1.86	1.09	0.54	0.58
Price/Tangible Book Value	6.24	6.09	6.6	10.63	3.86	2	1.94	0.6	0.86
Price/Tangible Book Value Average	6.25	6.09	5.8	8.72	8.18	3.96	2.74	1.71	0.97
Price/Tangible Book Value High	6.71	6.26	7.38	19.03	18.13	7.88	5.23	5.2	1.8
Price/Tangible Book Value Low	6.09	5.98	3.94	4.06	3.71	1.86	1.09	0.54	0.58
Price/Sales	- -	679.76	593.78	21,846.35	1,006.42	397.29	121.51	20.85	106.53
Price/Sales Average	- -	679.5	521.98	17,912.71	2,131.42	788.39	171.92	59.24	120.62
Price/Sales High	- -	699.47	664.72	39,117.2	4,723.71	1,568.04	327.84	180.18	223.69
Price/Sales Low	- -	668.2	354.72	8,340.83	967.31	370.46	68.44	18.69	72.35
Price/Cash Flow	- -	-13.29	-10.74	-22.3	-14.36	-2.42	-1.84	-0.42	-0.68
Price/Cash Flow Average	- -	-13.29	-9.44	-18.28	-30.41	-4.79	-2.61	-1.18	-0.78
Price/Cash Flow High	- -	-13.68	-12.02	-39.93	-67.39	-9.53	-4.97	-3.59	-1.44
Price/Cash Flow Low	- -	-13.07	-6.41	-8.51	-13.8	-2.25	-1.04	-0.37	-0.47
Price/Free Cash Flow Average	- -	-13.29	-9.44	-18.28	-30.41	-4.79	-2.61	-1.18	-0.78
Price/Free Cash Flow High	- -	-13.68	-12.02	-39.93	-67.39	-9.53	-4.97	-3.59	-1.44
Price/Free Cash Flow Low	- -	-13.07	-6.41	-8.51	-13.8	-2.25	-1.04	-0.37	-0.47
EV/Sales Average	- -	1,452.57	405.76	16,621.44	2,062.9	871.65	233.42	112.66	288.84
EV/Sales High	- -	1,495.25	549.69	39,472.66	4,765.6	1,685.13	418.31	272.56	436.32
EV/Sales Low	- -	1,428.41	237.11	6,306.22	849.19	435.59	110.73	59.04	219.76
EV/EBITDA Average	- -	-25.64	-7.44	-14.9	-22.05	-4.12	-3.09	-2.19	-1.66
EV/EBITDA High	- -	-26.4	-10.08	-35.38	-50.93	-7.97	-5.54	-5.31	-2.51
EV/EBITDA Low	- -	-25.22	-4.35	-5.65	-9.08	-2.06	-1.47	-1.15	-1.26
EV/EBIT Average	- -	-24.75	-7.19	-14.37	-21.25	-4.03	-3.01	-2.1	-1.56
EV/EBIT High	- -	-25.48	-9.75	-34.13	-49.1	-7.79	-5.4	-5.09	-2.36
EV/EBIT Low	- -	-24.34	-4.2	-5.45	-8.75	-2.01	-1.43	-1.1	-1.19
Last Price	201.8	200	231	474.6	267.6	69.6	49	5.88	3.21
High Price	217	205.8	258.6	849.8	1,256	274.7	132.2	50.8	6.74
Enterprise Value Average	4,178	4,138	1,534	3,956	6,791	2,015	1,587	793	446
Enterprise Value High	4,491	4,260	2,078	9,394	15,688	3,896	2,844	1,918	674
Enterprise Value Low	4,077	4,070	897	1,501	2,796	1,007	753	415	339

Shares Outstanding	21	21	10	12	13	14	20	33	73
Diluted Weighted Avg Shares	- -	10	10	11	12	13	17	25	51
Basic Weighted Avg Shares	- -	10	10	11	12	13	17	25	51
Revenue per Share	- -	0.29	0.39	0.02	0.27	0.18	0.4	0.28	0.03
EBITDA per Share	- -	-16.67	-21.22	-24.23	-24.88	-37.04	-30.47	-14.47	-5.25
Operating Income per Share	- -	-17.27	-21.94	-25.13	-25.81	-37.89	-31.26	-15.09	-5.57
Basic EPS, GAAP	- -	-14.27	-22.13	-58.86	-28.5	-37.9	-29.79	-13.89	-5.44
Basic EPS from Cont Ops	- -	-14.27	-22.13	-58.86	-28.5	-37.9	-29.79	-13.89	-5.44
Diluted EPS, GAAP	- -	-14.27	-22.13	-58.86	-28.5	-37.9	-29.79	-13.89	-5.44
Diluted EPS from Cont Ops	- -	-14.27	-22.13	-58.86	-28.5	-37.9	-29.79	-13.89	-5.44
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	-15.05	-21.52	-21.28	-18.64	-28.81	-26.58	-14.13	-4.69
Free Cash Flow per Basic Share	- -	-15.05	-21.52	-21.28	-18.64	-28.81	-26.58	-14.13	-4.69
Cash & Equivalents per Share	0.03	0.02	49.02	56.4	46.78	66.01	43.71	17.07	4.19
Book Value per Share	32.32	32.85	35.02	44.64	69.28	34.87	25.28	9.77	3.74
Tangible Book Value per Share	32.32	32.85	35.02	44.64	69.28	34.87	25.28	9.77	3.74

Virgin Galactic Holdings, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)