Technology · Aerospace & Defense
Price
$25.91
Market Cap
$3.4B
Employees
710
Beta
4.14
Avg Volume
2,413,845
CEO
Dirk Wallinger
Business Description
York Space Systems, Inc. operates as a space and defense prime providing a comprehensive suite of mission-critical solutions for national security, government and commercial customers in the United States. It provides space and defense primes with proprietary hardware and software capabilities designed to address customers’ requirements across the elements of the space ecosystem throughout the mission lifecycle. The company also engages in the design, production, integration, and operation of spacecraft to manage spacecraft and constellations. It offers S-CLASS, LX-CLASS, and M-CLASS spacecraft, which are satellite platforms to a range of space market needs. In addition, the company provides software that enables versatile integration of a variety of payloads for customers and supply chain commonalities across platforms, as well as software-enabled services. The company was formerly known as Yellowstone Midco Holdings II, LLC and changed its name to York Space Systems, Inc. in January 2026. York Space Systems, Inc. was founded in 2012 and is based in Greenwood Village, Colorado.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-38.66
Stock Price: $25.91
EPS (Diluted): -0.67
EPS (Diluted): -0.67
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
4.24
Stock Price: $25.91
Total Equity: $1.01B
Shares: 127,609,215
Total Equity: $1.01B
Shares: 127,609,215
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-235.30
Market Cap: $3.36B
Total Debt: $151.97M
Cash: $162.57M
EBITDA: -$18.28M
Total Debt: $151.97M
Cash: $162.57M
EBITDA: -$18.28M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$4.3B
Market Cap: $3.36B
Total Debt: $151.97M
Cash: $162.57M
Total Debt: $151.97M
Cash: $162.57M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
11.11
Stock Price: $25.91
Revenue: $386.20M
Shares: 127,609,215
Revenue: $386.20M
Shares: 127,609,215
EV/Sales (Total value vs revenue — works when P/E can't)
API11.14
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
19.5%
Gross Profit: $75.46M
Revenue: $386.20M
Revenue: $386.20M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-15.2%
Operating Income: -$58.55M
Revenue: $386.20M
Revenue: $386.20M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-21.9%
Net Income: -$84.54M
Revenue: $386.20M
Revenue: $386.20M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-8.4%
Net Income: -$84.54M
Total Equity: $1.01B
Total Equity: $1.01B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
-5.2%
Operating Income: -$58.55M
Tax Rate: 11.2%
Equity: $1.01B
Total Debt: $151.97M
Cash: $162.57M
Tax Rate: 11.2%
Equity: $1.01B
Total Debt: $151.97M
Cash: $162.57M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.57
Current Assets: $301.15M
Current Liabilities: $191.35M
Current Liabilities: $191.35M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.15
Short-Term Debt: $7.01M
Long-Term Debt: $144.96M
Total Debt: $151.97M
Total Equity: $1.01B
Long-Term Debt: $144.96M
Total Debt: $151.97M
Total Equity: $1.01B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$3.03
Revenue: $386.20M
Shares: 127,609,215
Shares: 127,609,215
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$7.92
Total Equity: $1.01B
Shares: 127,609,215
Shares: 127,609,215
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-1.02
Operating CF: -$121.33M
CapEx: -$8.86M
Shares: 127,609,215
CapEx: -$8.86M
Shares: 127,609,215
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $25.91
Stock Price: $25.91
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$84.54M
Net Income: -$84.54M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares YSS against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 26, 2026 3:20pm (18h ago)| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $238.1M | $253.5M | $386.2M |
| Cost of Revenue | $183.2M | $221.1M | $310.7M |
| Gross Profit | $54.9M | $32.4M | $75.5M |
| Operating Expenses | $101.0M | $124.4M | $134.0M |
| Operating Income | -$46.1M | -$92.0M | -$58.6M |
| Net Income | -$29.7M | -$98.9M | -$84.5M |
| EBITDA | $1.8M | -$46.3M | -$18.3M |
| EPS | $-0.28 | $-0.84 | $-0.67 |
| EPS (Diluted) | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 26, 2026 3:20pm (18h ago)| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash & Equivalents | $81.1M | $104.7M | $162.6M |
| Total Current Assets | $241.2M | $214.6M | $301.1M |
| Total Assets | $1.4B | $1.5B | $1.6B |
| Current Liabilities | $164.6M | $225.5M | $191.4M |
| Long-Term Debt | $196.3M | $197.0M | $145.0M |
| Total Liabilities | $514.9M | $624.3M | $633.9M |
| Total Equity | $935.7M | $846.3M | $1.0B |
| Retained Earnings | -$85.6M | -$184.5M | -$269.0M |
Cash Flow (Annual)
Last updated: Jun 26, 2026 3:20pm (18h ago)| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | $15.7M | $31.6M | -$121.3M |
| Capital Expenditure | -$18.5M | -$18.0M | -$8.9M |
| Free Cash Flow | -$2.8M | $13.6M | -$130.2M |
| Acquisitions (net) | -$44.4M | $0 | -$11.4M |
| Debt Repayment | — | — | — |
| Dividends Paid | — | — | — |
| Stock Buybacks | $0 | $0 | $0 |
| Net Change in Cash | $48.2M | $23.5M | $57.9M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 3:20pm (18h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$862.8M $852.4M – $873.1M
|
$1.1B $1.1B – $1.1B
|
$1.5B $1.5B – $1.6B
|
$2.0B $1.9B – $2.0B
|
| EBITDA |
-$63.9M -$64.7M – -$63.2M
|
-$81.4M -$81.5M – -$81.4M
|
-$114.7M -$117.8M – -$109.3M
|
-$145.7M -$149.6M – -$138.8M
|
| Net Income |
$73.0M $59.8M – $74.7M
|
$138.3M $117.6M – $139.1M
|
$216.9M $203.5M – $224.4M
|
$293.5M $275.4M – $303.7M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 26, 2026 3:20pm (18h ago)| Metric | 2024 | 2025 |
|---|---|---|
| Revenue Growth | +6.5% | +52.3% |
| Gross Profit Growth | -40.9% | +132.8% |
| Operating Income Growth | -99.3% | +36.3% |
| Net Income Growth | -233.5% | +14.5% |
| EBITDA Growth | -2,660.5% | +60.5% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for YSS — it's generated by the pipeline (
market-narrative step).
No community reviews yet for YSS.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30