Aerojet Rocketdyne

Manufacturing & Industrial advanced materials aerospace defense engineering components engines

Aerojet Rocketdyne is a company providing propulsion and energetics to space, missile defense, strategic, tactical missile and armament areas worldwide. The Company engages in the development and manufacture of aerospace propulsion systems, precision tactical weapon systems, and armament systems, including warhead and munitions applications. It offers technology power systems for terrestrial and space applications, space and launch systems, such as launch vehicles, space propulsion systems, human space systems and others, missile defense and strategic systems, tactical systems and air breathing systems, aerospace components and specialty metal components for munitions, commercial products, and sporting goods.

Revenue(FY, 2017)

$1.9 B

Market capitalization(2018-05-21)

$2.2 B

Patent Applications (Feb, 2018)

Type

Public

Sacramento, US

Founded

1942

Size (employees)

4,965 (est)

Website

rocket.com

Aerojet Rocketdyne was founded in 1942 and is headquartered in Sacramento, US

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Key People/Management at Aerojet Rocketdyne

Eileen Drake

CEO and President

Mark Tucker

Chief Operating Officer

Paul Lundstrom

Vice President and Chief Financial Officer

Arjun Kampani

Vice President, General Counsel and Secretary

John Schumacher

Vice President, Washington Operations

James Simpson

Senior Vice President, Strategy and Business Development

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Aerojet Rocketdyne Office Locations

Aerojet Rocketdyne has offices in Huntsville, Jupiter, Bristow, Folsom and in 10 other locations

Sacramento, US (HQ)

P.O. Box 13222

Arlington, US

1300 Wilson Blvd

Bristow, US

8050 Piney Branch Ln

Camden, US

New Mexico Tech Industrial Research Park Campus West 2409 Bravo Road

Carlstadt, US

875 Washington Ave

Culpeper, US

7499 Pine Stake Rd

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Aerojet Rocketdyne Financials and Metrics

Aerojet Rocketdyne Financials

Aerojet Rocketdyne's revenue was reported to be $1.88 b in FY, 2017 which is a 6.6% increase from the previous period.

Summary

USD
Revenue (FY, 2017)	1.9 b
Revenue growth (FY, 2016 - FY, 2017), %	6.6%
Gross profit (FY, 2017)	349.8 m
Gross profit margin (FY, 2017), %	18.6%
Net income (FY, 2017)	(9.2 m)
EBIT (FY, 2017)	114.3 m
Market capitalization (21-May-2018)	2.2 b
Closing share price (21-May-2018)	29.2
Cash (31-Dec-2017)	535 m
EV	2.3 b

Aerojet Rocketdyne's current market capitalization is $2.2 b.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	1.6 b	1.7 b	1.8 b	1.9 b
Revenue growth, %		7%	3%	7%
Cost of goods sold	1.4 b	1.5 b	1.5 b	1.5 b
Gross profit	196 m	248.8 m	233.9 m	349.8 m

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Revenue	318.6 m	456.9 m	440.5 m	356.9 m	408.4 m	463.8 m	405.3 m	459.6 m	484.1 m
Cost of goods sold	282.8 m	372.5 m	373.3 m	309.7 m	356.5 m	405.4 m	352.7 m	383.9 m	417.1 m
Gross profit	35.8 m	84.4 m	67.2 m	47.2 m	51.9 m	58.4 m	52.6 m	75.7 m	67 m
Gross profit Margin, %	11%	18%	15%	13%	13%	13%	13%	16%	14%

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Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	265.9 m	211.1 m	410.3 m	535 m
Accounts Receivable	172.9 m	171.5 m	136.4 m	215.5 m
Inventories	139 m	157.5 m	185.1 m	136.4 m
Current Assets	666.5 m	662.6 m	854.7 m	1 b

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Cash	215.7 m	253.5 m	243.3 m	155.5 m	183.7 m	129.3 m	382.1 m	413.6 m	392.5 m
Accounts Receivable	206.1 m	173.7 m	186.7 m	182.3 m	176.8 m	147.3 m	202 m	235.7 m	283.1 m
Inventories	161.4 m	150.3 m	148.7 m	170.6 m	164.9 m	157.2 m	160.4 m	164.4 m	160.8 m
Current Assets	679.6 m	677.4 m	687.3 m	64.9 m	677.4 m	573.6 m	870.3 m	918.1 m	940.1 m

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Cash Flow

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	(50 m)	(16.2 m)	18 m	(9.2 m)
Depreciation and Amortization	63.7 m	65.1 m	64.9 m	72.6 m
Inventories	(32 m)	(19.5 m)	(28.9 m)	48.6 m
Accounts Payable	(18.2 m)	(5.1 m)	27 m	1.6 m

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Net Income	(3.9 m)	14.5 m	(23.6 m)	5.1 m	1.1 m	100 k	5.9 m	30.2 m	42.8 m
Depreciation and Amortization	16 m	32.1 m	48.2 m	15.1 m	30.5 m	45.9 m	16.3 m	35.4 m	54 m
Inventories	(22.4 m)	(11.3 m)	(9.7 m)	(14.4 m)	(8.7 m)	(1 m)	24.7 m	20.7 m	24.3 m
Accounts Payable	(1.9 m)	(15.9 m)	(14.8 m)	22.5 m	23.2 m	11.5 m	1.1 m	12.6 m	28.1 m

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Ratios

USD	Y, 2017
EV/EBIT	20 x
EV/CFO	10.7 x
EV/FCF	12.5 x
Revenue/Employee	434.8 k
Debt/Equity	6 x
Debt/Assets	0.3 x
Financial Leverage	22.1 x
P/E Ratio	(224.5 )

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Aerojet Rocketdyne Operating Metrics

Aerojet Rocketdyne's Patent Applications was reported to be 10 in Feb, 2018.

	FY, 2014	Q1, 2015	Q2, 2015	Q3, 2015	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	FY, 2016	Q1, 2017	Q2, 2017	Q3, 2017	FY, 2017	Feb, 2018
Backlog Funded	$2.20 b	$2.40 b	$2.30 b	$2.60 b	$2.40 b	$2.30 b	$2.30 b	$2.30 b	$2.30 b	$2.20 b	$2.10 b	$2.10 b	$2.10 b
Locations														13
Patent Applications														10
Twelve-month Backlog	$1.50 b	$1.70 b	$1.50 b		$1.60 b		$1.80 b	$1.70 b	$1.70 b	$1.90 b	$2 b		$1.70 b

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Aerojet Rocketdyne Acquisitions / Subsidiaries

Acquired Company	Date	Deal Size
L-3 Coleman Aerospace	February 22, 2017	$15 m
Rocketdyne	June 10, 2013	$550 m
Atlantic Research Corp	October 17, 2003	$144 m
Aerojet International Inc.
Aerojet Ordnance Tennessee Inc.
Aerojet Rocketdyne Coleman Aerospace Inc.
Aerojet Rocketdyne Inc.
Aerojet Rocketdyne of DE Inc.
Arde-Barinco Inc.
Arde Inc.