Firefly Aerospace $FLY Read from its own SEC filings · nothing written, nothing inferred
🫧 Edgar looked up Firefly Aerospace Inc. ($FLY). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-10-06. 13 event filings (8-K) in the past twelve months.
🔖 Exposure: revenue $159.9M (FY2025). Experience: revenue up 163.0% on the year, up 70.1% a year over 2 years; operating margin -163.1%, up from -344.5%. Soundness: equity 65.2% of assets, return on equity -25.1%. Credibility: 3 audited years, moderate weight. Range: 80% of past cases like this landed between $273.0M and $438.8M next year (method v3, set from 4,309 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (75 filers, $50M+ revenue, its industry group): operating margin -163.1% against a 4.8% median; growth 163.0% against 4.9%.
Speed and cash · fiscal 2025
Both views must agree for a label · a description, not advice.
| Cash flow (op · inv · fin · free) | −$205M · −$402M · $1.3B · −$238M |
| Investment book (cash · short · long) | $793M · $100M · — · current ratio 4.51 |
| Revenue swing · equity of assets | 61.6% · 65.2% |
Firefly Aerospace is growing faster than its size class, with revenue that swings more. Its own audited SEC figures.
The figures, as filed
| Fiscal year end | 2025-12-31 |
| Revenue | $160M |
| Revenue, on the year | 163.0% |
| Revenue, a year over the record | 70.1% |
| Operating margin | −163.1% |
| Operating margin, prior year | −344.5% |
| Net margin | −186.6% |
| Research and development | $200M · 125.2% of revenue |
| Total debt | — |
| Equity of assets | 65.2% |
| Return on equity | −25.1% |
| Payout of profit | — |
| Dividend per share | — |
| Earnings per share | $-4.83 |
| Book value per share | $17.19 |
| Revenue per share | $2.31 |
| Shares outstanding | 69,204,000 |
| Audited years read | 3 |
Peers: the median of 75 filers with $50M+ revenue in guided missiles & space vehicles & parts.
Health HarborFirefly Aerospace sails as: Sound ship
Health watch · 12 monthsDirector or officer change ×5
Sailing speed follows growth: 162.9% a year crosses the harbor in 30 seconds.
🌊 Visit the Bay →- operating cash flow was negative
Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.
- 8-K · 2026-10-06 · 5.02 Departure or Election of Directors; Appointment of Officers
- 10-Q · 2026-08-11
- 8-K · 2026-08-11 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits
- 8-K · 2026-06-05 · 5.07 Submission of Matters to a Vote of Security Holders
- 8-K · 2026-06-02 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits
- S-1 · 2026-05-26
Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company