Firefly Aerospace Inc. (FLY) Key Metrics
FLY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.80B
- Enterprise value
- $3.08B
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 9.8
- Price / book
- 3.0
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- —
FLY key metrics, 2023–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFLY returns How much profit the business earns on the capital it uses.
FLY per-share figures Results divided by the shares outstanding at year-end.
FLY financial health Debt, liquidity and how easily interest is covered.
FLY efficiency & capital use Working capital cycle and where the cash goes.
FLY valuation history
FLY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FLY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FLY cash returned to shareholders
FLY price vs earnings per share
FLY key metrics
2023–2025| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Valuation | |||
| Market capitalization | $3.40B | — | — |
| Enterprise value | $2.81B | — | — |
| Price / sales | 21.3 | — | — |
| Price / book | 2.9 | — | — |
| EV / sales | 17.6 | — | — |
| Earnings yield | −8.8% | — | — |
| Free cash flow yield | −7.0% | — | — |
| Dividend yield | 0.1% | — | — |
| Shareholder yield (dividends + buybacks) | 0.1% | — | — |
| Share price at fiscal year-end | $22.37 | — | — |
| Per share | |||
| Revenue per share | $1.05 | $0.42 | $0.38 |
| Earnings per share | −$1.96 | −$1.61 | −$0.94 |
| Operating cash flow per share | −$1.35 | −$1.10 | −$0.65 |
| Free cash flow per share | −$1.57 | −$1.33 | −$1.19 |
| Cash per share | $5.88 | $0.86 | $0.57 |
| Book value per share | $7.83 | −$5.34 | −$3.51 |
| Tangible book value per share | $3.78 | −$5.46 | −$3.63 |
| Dividends per share | $0.03 | $0.00 | $0.00 |
| Capex per share | $0.22 | $0.23 | $0.54 |
| Debt per share | $2.03 | $1.17 | $0.84 |
| Shares outstanding | 151.9M | 143.6M | 143.6M |
| Change in shares outstanding | +5.7% | 0.0% | — |
| Returns & profitability | |||
| Return on equity (ROE) | −141.3% | — | — |
| Return on assets (ROA) | −26.7% | −63.5% | −42.2% |
| Return on tangible assets | −24.7% | −59.2% | −44.5% |
| Free cash flow margin | −148.7% | −313.1% | −309.0% |
| Financial health | |||
| Total debt | $308.6M | $168.4M | $120.9M |
| Cash & short-term investments | $893.0M | $123.4M | $81.9M |
| Net debt | −$584.4M | $45.0M | $39.0M |
| Debt / equity | 0.26 | — | — |
| Debt / assets | 0.17 | 0.41 | 0.38 |
| Current ratio | 4.51 | 1.01 | 1.10 |
| Quick ratio | 4.51 | 1.01 | 1.09 |
| Interest coverage | -11.4 | -10.3 | -33.3 |
| Working capital | $749.6M | $1.3M | $13.2M |
| Invested capital | $605.6M | −$722.7M | −$465.5M |
| Tangible asset value | $574.1M | −$784.7M | −$521.6M |
| Net current asset value | $328.2M | −$994.2M | −$675.7M |
| Graham net-net per share | $1.93 | −$7.31 | −$5.16 |
| Capital allocation | |||
| Dividends paid | $5.0M | $0 | $0 |
| Capex / revenue | 20.5% | 53.8% | 139.9% |
| Capex / depreciation | 1.42 | 2.61 | 16.41 |
| Stock-based compensation / revenue | 11.2% | 3.0% | 2.9% |
| R&D / revenue | 125.2% | 245.9% | 213.4% |
| SG&A / revenue | 57.1% | 77.1% | 73.5% |
| Efficiency | |||
| Days sales outstanding | 53.8 | 11.1 | 17.9 |
| Days of inventory on hand | — | — | 3.1 |
| Days payables outstanding | 99.6 | 165.3 | 352.1 |
| Cash conversion cycle (days) | -45.8 | -153.5 | -331.1 |
| Receivables turnover | 6.78 | 32.79 | 20.43 |
| Payables turnover | 3.66 | 2.21 | 1.04 |
| Inventory turnover | — | — | 115.93 |
| Asset turnover | 0.14 | 0.17 | 0.17 |
| Average receivables | $23.6M | $1.9M | $2.7M |
| Average payables | $36.8M | $32.7M | $27.6M |
| Average inventory | — | $123,500 | $247,000 |
| Intangibles / total assets | 33.7% | 4.2% | 5.3% |
Computed from FLY's annual financial statements (latest annual report filed March 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FLY valuation and financial ratios
Firefly Aerospace earned a return on equity of −141.3% in fiscal 2025. It ended the year with $308.6 million of debt and $893.0 million in cash and short-term investments, a net cash position of $584.4 million. It returned $5.0 million to shareholders: $5.0 million in dividends and $0 in share buybacks.
See the FLY income statement, the FLY chart for price history, or the FLY stock overview for the latest quote and news.
FLY key metrics FAQ
What is Firefly Aerospace's return on equity?
Firefly Aerospace's return on equity (ROE) was −141.3% in fiscal 2025: net income of -$298.3 million on average shareholders' equity of $211.2 million.
How much debt does Firefly Aerospace have?
Firefly Aerospace had total debt of $308.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.26 and more cash than debt.
What is Firefly Aerospace's dividend yield?
Firefly Aerospace paid $5.0 million in dividends in fiscal 2025 ($0.03 per share), a payout ratio of —.
What is Firefly Aerospace's free cash flow yield?
Firefly Aerospace generated -$237.8 million of free cash flow in fiscal 2025, a free cash flow yield of −7.0% on its market value at year-end ($3.4 billion).
What is Firefly Aerospace's current ratio?
Firefly Aerospace's current ratio was 4.51 at the end of fiscal 2025: current assets were 4.51 times current liabilities.