Is the business good?
How good a business is RCAT?
Red Cat Holdings, Inc. earns −60% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−60%
Return on invested capital · cost of capital 9.0% · 69 points below what the capital costs: growth destroys value
- Operating margin
- −149%
Operating margin · Aerospace & Defense median 9.6% · 12 months to Q1 2027
- Share count, year on year
- +41%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 41%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −411% |
| FY2021 | −98% |
| FY2022 | −202% |
| FY2023 | −570% |
| FY2024 | −108% |
| FY2026 | −164% |
Details›
- Gross margin12 months to Q1 2027
- 7.5%
- Operating margin12 months to Q1 2027
- −149%
- Net margin12 months to Q1 2027
- −138%
- R&D as % of revenue
- 41%
- Revenue, trailing twelve months
- $55M
- Net income, trailing twelve months
- −$76M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −60%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Aerospace & Defense
Ranks #39 of 48 by Smart Score