SPCENYSETransportation ServicesFiscal year ends December 31
Virgin Galactic Holdings, Inc
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 12, 2026
$2.34−0.09 (-3.70%)
Close on Oct 19, 2026
- Market cap
- $259.17M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2016 to 2025
Gross margin
-4613.0%−4640.3 pts over 5 years
Operating margin
-18480.8%+97184.8 pts over 5 years
Net margin
-18063.9%+252897.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -78.1% | -12.6% | +45.3% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -148.2% | -93.6% | |
| Return on assets | – | -91.5% | -31.6% | |
| Current ratio | – | 6.33 | 1.78 | |
| Debt to equity | – | 0.00 | 1.18 | |
| Net debt to EBITDA | – | 2.55× | -0.67× | |
| Interest coverage | – | -7646.8× | -22.3× | |
| Inventory turnover | – | 0.0× | – | |
| Capex to revenue | – | 7227.3% | 12826.7% | |
| Diluted shares | – | 11M | 51M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Virgin Galactic generated $1.65B from operations and spent $385.33M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$1.65B
Used
$385.33M
Capital expenditure$385.33M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-18063.9%
×Asset turnover0.00×
×Equity multiplier2.96×
=Return on equity, FY2025-93.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -18063.9% | 0.00× | 2.96× | -93.6% |
| FY2024 | -4928.1% | 0.01× | 2.59× | -83.8% |
| FY2023 | -7387.3% | 0.01× | 2.35× | -101.9% |
| FY2022 | -21632.9% | 0.00× | 1.61× | -72.8% |
| FY2021 | -10719.9% | 0.00× | 1.32× | -49.7% |
| FY2020 | -270960.9% | 0.00× | 1.62× | -148.2% |
| FY2019 | -5689.4% | 0.01× | 1.98× | -111.8% |
| FY2018 | -4848.7% | 0.01× | 13.15× | -427.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$278.91M
- Cash generatingOperating cash flow above zero-$240.14M
- Return on assets improvedROA up on the prior year-29.4% → -29.0%
- Earnings backed by cashOperating cash flow above net income-$240.14M vs -$278.91M
- Less leverageLong-term debt to assets fell43.7% → 34.4%
- Better liquidityCurrent ratio rose4.19 → 1.78
- No dilutionShare count did not rise25M → 51M
- Gross margin improvedGross margin up on the prior year-1179.48% → -4613.02%
- More efficientAsset turnover rose0.01 → 0.00