RDW - Redwire Corporation
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$13.60
DETAILS
HIGH:
$22.00
LOW:
$9.00
MEDIAN:
$13.00
CONSENSUS:
$13.60
UPSIDE:
16.14%
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Revenue | 304.1 | 243.8 | 160.5 | 137.6 | 57.4 | 19.0 |
| Cost of Revenue | 259.6 | 185.8 | 131.9 | 108.2 | 45.3 | 15.0 |
| Gross Profit | 44.5 | 58.0 | 28.7 | 29.4 | 12.1 | 4.0 |
| Operating Expenses | ||||||
| R&D Expenses | 6.1 | 5.0 | 4.9 | 4.5 | 2.4 | 0.9 |
| SG&A Expenses | 71.4 | 68.5 | 70.3 | 68.4 | 18.4 | 0.0 |
| Other Expenses | 9.1 | 0.0 | 99.9 | 26.6 | (0.0) | 6.3 |
| Operating Expenses | 86.7 | 73.5 | 175.1 | 99.6 | 20.8 | 7.2 |
| Operating Income | ||||||
| Operating Income | (42.2) | (15.5) | (146.4) | (70.2) | (8.6) | (3.2) |
| Interest Expense | 13.5 | 10.7 | 8.2 | 6.5 | 1.1 | 0.0 |
| Interest Income | 0.0 | 0.0 | 0.0 | 0.0 | 1.2 | 0.1 |
| Profitability | ||||||
| EBITDA | (21.4) | (4.8) | (35.3) | (33.0) | (15.4) | (3.1) |
| EBIT | (33.1) | (15.5) | (46.6) | (43.6) | (18.6) | (3.2) |
| Income Before Tax | (116.3) | (27.8) | (138.6) | (72.8) | (19.8) | (3.3) |
| Income Tax Expense | (2.0) | (0.5) | (8.0) | (11.3) | (4.0) | 0.0 |
| Net Income | (114.3) | (27.3) | (130.6) | (61.5) | (15.7) | (3.4) |
| Per Share Data | ||||||
| EPS (Basic) | -2.35 | -0.73 | -2.03 | -0.98 | -0.26 | -0.06 |
| EPS (Diluted) | -2.35 | -0.73 | -2.03 | -0.98 | -0.26 | -0.06 |
| Shares Outstanding | 66.1 | 64.7 | 64.3 | 62.7 | 59.7 | 59.7 |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| Current Assets | ||||||
| Cash & Cash Equivalents | 49.1 | 30.3 | 28.3 | 20.5 | 22.1 | 9.3 |
| Short-Term Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Receivables | 65.6 | 70.0 | 58.5 | 28.7 | 15.8 | 0.2 |
| Inventory | 2.2 | 1.5 | 1.5 | 0.7 | 0.3 | 0.0 |
| Other Current Assets | 8.0 | 6.4 | 5.7 | 2.5 | 1.1 | 0.1 |
| Total Current Assets | 125.9 | 109.3 | 96.2 | 55.2 | 39.3 | 9.8 |
| Non-Current Assets | ||||||
| Property, Plant & Equipment | 33.1 | 29.1 | 25.9 | 19.4 | 3.3 | 0.3 |
| Goodwill | 71.2 | 65.8 | 64.6 | 96.3 | 52.7 | 0.0 |
| Intangible Assets | 61.8 | 63.0 | 66.9 | 90.8 | 61.0 | 0.0 |
| Long-Term Investments | 0.0 | 3.6 | 3.3 | 0.0 | 0.0 | 0.0 |
| Other Non-Current Assets | 0.6 | 0.5 | 0.9 | 0.0 | 0.5 | 0.1 |
| Total Non-Current Assets | 166.7 | 162.0 | 161.5 | 206.5 | 117.5 | 0.4 |
| Total Assets | 292.6 | 271.3 | 257.7 | 261.8 | 156.8 | 10.1 |
| Current Liabilities | ||||||
| Account Payables | 32.1 | 18.6 | 17.6 | 13.1 | 7.2 | 1.6 |
| Short-Term Debt | 1.3 | 1.4 | 3.6 | 3.7 | 2.9 | 0.2 |
| Deferred Revenue | 67.2 | 52.6 | 29.8 | 15.7 | 15.7 | 0.0 |
| Other Current Liabilities | 19.7 | 2.4 | 3.7 | 1.6 | 0.4 | 6.7 |
| Total Current Liabilities | 149.3 | 112.0 | 94.7 | 51.2 | 33.6 | 8.6 |
| Non-Current Liabilities | ||||||
| Long-Term Debt | 124.5 | 86.8 | 74.7 | 74.9 | 76.6 | 3.1 |
| Deferred Tax Liabilities | 0.6 | 2.4 | 3.3 | 8.6 | 7.4 | 0.0 |
| Other Non-Current Liabilities | 55.7 | 3.7 | 1.8 | 19.8 | 0.0 | 2.6 |
| Total Non-Current Liabilities | 195.2 | 106.4 | 93.1 | 103.3 | 84.0 | 5.7 |
| Total Liabilities | 344.5 | 218.4 | 187.8 | 154.5 | 117.6 | 14.3 |
| Stockholders' Equity | ||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (348.1) | (233.8) | (206.5) | (75.9) | (14.4) | (13.2) |
| Accumulated Other Comprehensive Income | 1.3 | 2.9 | 2.1 | 0.1 | 0.5 | (0.0) |
| Total Stockholders' Equity | (51.9) | 52.6 | 69.7 | 107.2 | 39.2 | (4.2) |
| Total Liabilities & Equity | 292.6 | 271.3 | 257.7 | 261.8 | 156.8 | 10.1 |
| Debt Metrics | ||||||
| Total Debt | 145.0 | 105.8 | 95.1 | 78.6 | 79.5 | 3.3 |
| Net Debt | 95.9 | 75.6 | 66.8 | 58.0 | 57.5 | (6.0) |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | (114.3) | (27.3) | (130.6) | (61.5) | (15.7) | (3.4) |
| Depreciation & Amortization | 11.7 | 10.7 | 11.3 | 10.6 | 3.2 | 0.1 |
| Stock-Based Compensation | 11.3 | 8.7 | 10.8 | 27.1 | 0.0 | 2.3 |
| Change in Working Capital | 22.0 | 6.8 | 4.1 | (9.5) | 1.6 | 2.4 |
| Other Non-Cash Items | 53.8 | 3.2 | 81.1 | 10.0 | 2.1 | 4.3 |
| Operating Cash Flow | (17.3) | 1.2 | (31.7) | (37.4) | (12.5) | 5.7 |
| Investing Activities | ||||||
| Capital Expenditure | (6.4) | (8.3) | (4.2) | (2.9) | (1.2) | (0.2) |
| Acquisitions | (0.9) | 0.0 | (33.2) | (40.6) | (79.5) | 0.0 |
| Purchases of Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Sales/Maturities of Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Other Investing Activities | 0.1 | (2.7) | (0.5) | 4.9 | (4.9) | 0.0 |
| Investing Cash Flow | (7.2) | (8.3) | (37.4) | (38.5) | (85.6) | (0.2) |
| Financing Activities | ||||||
| Net Debt Issuance | 36.6 | 9.6 | (1.0) | 0.2 | 78.0 | 0.8 |
| Stock Repurchased | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Dividends Paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Other Financing Activities | 4.4 | (1.8) | (6.6) | 74.0 | 46.1 | 0.0 |
| Financing Cash Flow | 43.7 | 9.1 | 76.6 | 74.2 | 124.1 | 0.8 |
| Cash Position | ||||||
| Net Change in Cash | 18.8 | 2.0 | 7.8 | (1.6) | 22.1 | 6.3 |
| Cash at Beginning | 30.3 | 28.3 | 20.5 | 22.1 | 0.0 | 3.0 |
| Cash at End | 49.1 | 30.3 | 28.3 | 20.5 | 22.1 | 9.3 |
| Free Cash Flow | (23.7) | (7.1) | (35.8) | (40.2) | (13.7) | 5.5 |
| Key Metrics | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 304.1 | 243.8 | 160.5 | 137.6 | 57.4 | 19.0 |
| Gross Profit | 44.5 | 58.0 | 28.7 | 29.4 | 12.1 | 4.0 |
| Operating Income | (42.2) | (15.5) | (146.4) | (70.2) | (8.6) | (3.2) |
| Net Income | (114.3) | (27.3) | (130.6) | (61.5) | (15.7) | (3.4) |
| EPS (Diluted) | -2.35 | -0.73 | -2.03 | -0.98 | -0.26 | -0.06 |
| Balance Sheet | ||||||
| Cash & Equivalents | 49.1 | 30.3 | 28.3 | 20.5 | 22.1 | 9.3 |
| Total Assets | 292.6 | 271.3 | 257.7 | 261.8 | 156.8 | 10.1 |
| Total Debt | 145.0 | 105.8 | 95.1 | 78.6 | 79.5 | 3.3 |
| Stockholders' Equity | (51.9) | 52.6 | 69.7 | 107.2 | 39.2 | (4.2) |
| Cash Flow | ||||||
| Operating Cash Flow | (17.3) | 1.2 | (31.7) | (37.4) | (12.5) | 5.7 |
| Capital Expenditure | (6.4) | (8.3) | (4.2) | (2.9) | (1.2) | (0.2) |
| Free Cash Flow | (23.7) | (7.1) | (35.8) | (40.2) | (13.7) | 5.5 |