(PKE) Park Aerospace - Overview
Sector: Industrials | Industry: Aerospace & Defense | Exchange: NYSE (USA) | Market Cap: 671m USD | Total Return: 149.6% in 12m
Industry Rotation: +0.3
Avg Turnover: 5.99M
EPS Trend: -25.8%
Rev. Trend: 70.0%
Warnings
P/E ratio 78.4
Altman Z'' -0.83 < 1.0 - financial distress zone
Tailwinds
Supp Ema20, Leader, Tailwind, Pullback Retrace
Park Aerospace Corp. (PKE) specializes in the development and manufacture of advanced composite materials, film adhesives, and lightning strike protection for the global aerospace market. The company produces primary and secondary structures for a broad range of platforms, including commercial transport, military aircraft, unmanned aerial vehicles (UAVs), and rocket motors.
The aerospace composites sector is characterized by high barriers to entry due to stringent safety certifications and long-term integration into specific aircraft programs. Park Aerospace operates a specialized business model that includes the fabrication of composite parts and low-volume tooling, focusing on high-performance niche applications such as ablative materials for nozzles and radomes.
Investors can evaluate the companys historical performance and valuation metrics on ValueRay. Park Aerospace, formerly known as Park Electrochemical Corp., transitioned its strategic focus entirely to the aerospace industry in 2019 and maintains its corporate headquarters in Westbury, New York.
- Production rates for GE aviation jet engines drive core composite revenue
- Demand for business jet and military UAV structures impacts top-line growth
- Raw material cost fluctuations for specialized resins affect gross profit margins
- Global aerospace supply chain stability dictates manufacturing and delivery schedules
- Expansion of proprietary lightning strike protection materials improves market share capture
| Net Income: 8.68m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -4.05 > 1.0 |
| NWC/Revenue: 120.0% < 20% (prev 130.8%; Δ -10.73% < -1%) |
| CFO/TA 0.05 > 3% & CFO 5.55m > Net Income 8.68m |
| Net Debt (-63.2m) to EBITDA (13.6m): -4.63 < 3 |
| Current Ratio: 15.84 > 1.5 & < 3 |
| Outstanding Shares: last quarter (20.1m) vs 12m ago 0.09% < -2% |
| Gross Margin: 31.33% > 18% (prev 0.28%; Δ 3.11k% > 0.5%) |
| Asset Turnover: 54.52% > 50% (prev 49.44%; Δ 5.07% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBITDA TTM and Interest Expense TTM) |
| A: 0.67 (Total Current Assets 84.6m - Total Current Liabilities 5.34m) / Total Assets 118.1m |
| B: -0.42 (Retained Earnings -49.6m / Total Assets 118.1m) |
| C: 0.07 (EBIT TTM 8.62m / Avg Total Assets 121.2m) |
| D: -4.14 (Book Value of Equity -47.6m / Total Liabilities 11.5m) |
| Altman-Z'' Score: -0.83 = CCC |
| DSRI: 1.17 (Receivables 12.1m/9.69m, Revenue 66.1m/61.4m) |
| GMI: 0.89 (GM 31.33% / 27.90%) |
| AQI: 1.22 (AQ_t 0.10 / AQ_t-1 0.08) |
| SGI: 1.08 (Revenue 66.1m / 61.4m) |
| TATA: 0.03 (NI 8.68m - CFO 5.55m) / TA 118.1m) |
| Beneish M-Score: -2.78 (Cap -4..+1) = A |
Over the past week, the price has changed by +0.33%, over one month by +3.31%, over three months by +41.89% and over the past year by +149.58%.
| Analysts Target Price | 26 | -22.8% |
P/E Forward = 17.094
P/S = 10.519
P/B = 6.2773
P/EG = 1.4854
Revenue TTM = 66.1m USD
EBIT TTM = 8.62m USD
EBITDA TTM = 13.6m USD
Long Term Debt = 358k USD (from capitalLeaseObligations, last fiscal year)
Short Term Debt = 43.0k USD (from shortTermDebt, last quarter)
Debt = 401k USD (corrected: LT Debt 358k + ST Debt 43.0k)
Net Debt = -63.2m USD (recalculated: Debt 401k - CCE 63.6m)
Enterprise Value = 608.2m USD (671.4m + Debt 401k - CCE 63.6m)
Interest Coverage Ratio = unknown (Ebit TTM 8.62m / Interest Expense TTM 0.0)
EV/FCF = 178.0x (Enterprise Value 608.2m / FCF TTM 3.42m)
FCF Yield = 0.56% (FCF TTM 3.42m / Enterprise Value 608.2m)
FCF Margin = 5.17% (FCF TTM 3.42m / Revenue TTM 66.1m)
Net Margin = 13.14% (Net Income TTM 8.68m / Revenue TTM 66.1m)
Gross Margin = 31.33% ((Revenue TTM 66.1m - Cost of Revenue TTM 45.4m) / Revenue TTM)
Gross Margin QoQ = 34.06% (prev 31.23%)
Tobins Q-Ratio = 5.15 (Enterprise Value 608.2m / Total Assets 118.1m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 401k)
Taxrate = 26.01% (1.04m / 3.99m)
NOPAT = 6.38m (EBIT 8.62m * (1 - 26.01%))
Current Ratio = 15.84 (Total Current Assets 84.6m / Total Current Liabilities 5.34m)
Debt / Equity = 0.00 (Debt 401k / totalStockholderEquity, last quarter 106.6m)
Debt / EBITDA = -4.63 (Net Debt -63.2m / EBITDA 13.6m)
Debt / FCF = -18.48 (Net Debt -63.2m / FCF TTM 3.42m)
Total Stockholder Equity = 106.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 7.16% (Net Income 8.68m / Total Assets 118.1m)
RoE = 8.18% (Net Income TTM 8.68m / Total Stockholder Equity 106.1m)
RoCE = 8.09% (EBIT 8.62m / Capital Employed (Equity 106.1m + L.T.Debt 358k))
RoIC = 6.03% (NOPAT 6.38m / Invested Capital 105.8m)
WACC = 8.94% (E(671.4m)/V(671.8m) * Re(8.95%) + D(401k)/V(671.8m) * Rd(0.0%) * (1-Tc(0.26)))
Discount Rate = 8.95% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -51.11 | Cagr: -0.53%
[DCF] Terminal Value 78.22% ; FCFF base≈5.50m ; Y1≈6.63m ; Y5≈10.7m
[DCF] Fair Price = 10.94 (EV 154.8m - Net Debt -63.2m = Equity 218.0m / Shares 19.9m; r=8.94% [WACC]; 5y FCF grow 21.95% → 3.0% )
EPS Correlation: -25.82 | EPS CAGR: -47.24% | SUE: N/A | # QB: 0
Revenue Correlation: 70.03 | Revenue CAGR: 9.10% | SUE: N/A | # QB: 0