Virgin Galactic Holdings, Inc (SPCE)

Virgin Galactic Holdings, Inc., an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. It engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies. Virgin Galactic Holdings, Inc. has a Cooperative Research and Development Agreement with the Air Force Research Laboratory to Advance Space Weather Science. Virgin Galactic Holdings, Inc. is headquartered in Tustin, California.

Ticker
SPCE
Exchange
NYSE
Sector
Industrials
Industry
Aerospace & Defense
Market cap
$391.34M
52-week range
$2.13 - $8.90

Valuation

Share price
$2.77 (close of Nov 6, 2026)
P/E (TTM)
-0.82x
Price to book
0.99x
Price to free cash flow
-1.01x
Enterprise value
$423.04M
Book value per share
$2.80

Price performance

PeriodChange
1 day+16.39%
5 days+7.36%
1 month-9.77%
3 months-5.46%
6 months+4.14%
Year to date-13.71%
1 year-22.63%
3 years-91.80%
5 years-99.29%
All time-98.63%

Short interest

As of
Oct 15, 2026
Short % of float
25.93%
Shares short
39.11M
Days to cover
7.10
Change since prior report
+6.18%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
-101.80%
Return on invested capital
-47.70%
Return on assets
-34.73%
Return on capital employed
-48.05%
Gross margin
-4,613.02%
Net margin
-18,063.92%
EBITDA margin
-17,413.08%
Revenue growth
-78.06%

Cash flow and balance sheet

Free cash flow yield (TTM)
-98.75%
Current ratio
1.62x
Net debt to EBITDA
-0.14x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$1.54M
Cost of revenue
$72.77M
Gross profit
-$71.22M
EBITDA
-$268.86M
Net income
-$278.91M
Research and development
$80.47M
Interest expense
$12.78M

Income statement by year

Period endRevenueGross profitNet income
2025-12-31$1.54M-$71.22M-$278.91M
2024-12-31$7.04M-$82.99M-$346.74M
2023-12-31$6.80M-$43.74M-$502.34M
2022-12-31$2.31M$406.00K-$500.15M
2021-12-31$3.29M$3.02M-$352.90M
2020-12-31$238.00K$65.00K-$644.89M
2019-12-31$3.78M$1.78M-$215.12M
2018-12-31$2.85M$1.65M-$138.14M
2017-12-31$1.75M$1.27M-$138.19M

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-31-4,613.02%-18,063.92%-101.80%-47.70%
2024-12-31-1,179.48%-4,928.08%-107.59%-50.73%
2023-12-31-643.21%-7,387.31%-99.38%-57.56%
2022-12-3117.56%-21,632.87%-104.15%-55.81%
2021-12-3191.74%-10,719.90%-39.46%-34.09%
2020-12-3127.31%-270,960.92%-122.35%-49.64%
2019-12-3147.00%-5,689.37%-62.67%-57.99%
2018-12-3157.84%-4,848.68%--
2017-12-3172.18%-7,878.39%--

Cash and debt by year

Period endCashDebt
2025-12-31$144.73M$276.36M
2024-12-31$178.60M$420.12M
2023-12-31$216.80M$417.89M
2022-12-31$302.29M$415.72M
2021-12-31$524.48M$310.00K
2020-12-31$665.92M$310.00K
2019-12-31$480.44M-
2018-12-31$73.99M-
2017-12-31$75.43M-

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31-$438.19M$18.70M
2024-12-31-$474.56M$29.75M
2023-12-31-$492.50M$44.26M
2022-12-31-$396.73M$45.71M
2021-12-31-$235.40M$61.80M
2020-12-31-$250.36M$30.32M
2019-12-31-$222.97M$2.54M
2018-12-31-$156.29M-
2017-12-31-$142.27M-

Investor relations

Next earnings report

Next confirmed report
Nov 12, 2026
Consensus EPS estimate
$-0.44

Past earnings dates

ReportedFiscal periodEPS estimate
2026-08-12Jun 2026-$0.60
2026-05-14Mar 2026-$0.79
2026-03-30Dec 2025-$1.12
2025-11-13Sep 2025-$1.51
2025-08-06Jun 2025-$2.12
2025-05-15Mar 2025-$2.23
2025-02-26Dec 2024-$3.60
2024-11-06Sep 2024-$4.10

Filings and sources

Company website
virgingalactic.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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Understanding these figures

Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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