Virgin Galactic Holdings

SPCE

Aerospace & Defense · Industrials

Exchange

New York Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Virgin Galactic builds and operates spacecraft designed to carry paying passengers to the edge of space, known as suborbital flight. Its main product is a spaceplane called the Delta class vehicle, and its customers are wealthy individuals and researchers who pay for a few minutes of weightlessness and a view of Earth from space. The company is one of the very few private businesses that has actually flown paying tourists to space.

Virgin Galactic makes money by selling tickets for spaceflights, which cost around $450,000 per seat, and through research payload contracts with organizations like NASA. It operates primarily from Spaceport America in New Mexico and is a small company with a market cap around $500 million. The biggest risk the business faces is that it burns through far more cash than it earns — its deeply negative margins show it spends enormously more than it brings in — and it must successfully scale flight frequency to have any chance of becoming financially sustainable.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-67.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+66.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

22.1%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~8 months

$255M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Virgin Galactic Holdings has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

-20931.3%

Thin — -20931.3% gross margin

Profit after running costs

Operating Margin

-48452.2%

Losing money on operations — -48452.2%

Return on the money invested

ROCE

-41.5%

Weak — -41.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-38.9%

Shrinking sales (-38.9% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-37231.3%

Burning cash (-37231.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.55

Conservative — low debt load (0.55)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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