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AEROJET ROCKETDYNE HOLDINGS (AJRD) Stock Fundamental Analysis

NYSE:AJRD - New York Stock Exchange, Inc. - US0078001056 - Common Stock - Currency: USD

57.99  +0.81 (+1.42%)

After market: 57.99 0 (0%)

Fundamental Rating

4

Taking everything into account, AJRD scores 4 out of 10 in our fundamental rating. AJRD was compared to 65 industry peers in the Aerospace & Defense industry. There are concerns on the financial health of AJRD while its profitability can be described as average. While showing a medium growth rate, AJRD is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year AJRD was profitable.
In the past year AJRD has reported a negative cash flow from operations.
In the past 5 years AJRD has always been profitable.
Of the past 5 years AJRD 4 years had a positive operating cash flow.
AJRD Yearly Net Income VS EBIT VS OCF VS FCFAJRD Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 100M 200M 300M

1.2 Ratios

Looking at the Return On Assets, with a value of 3.19%, AJRD is in line with its industry, outperforming 57.14% of the companies in the same industry.
AJRD has a better Return On Equity (13.10%) than 79.37% of its industry peers.
AJRD has a Return On Invested Capital of 8.78%. This is in the better half of the industry: AJRD outperforms 79.37% of its industry peers.
The Average Return On Invested Capital over the past 3 years for AJRD is above the industry average of 7.89%.
Industry RankSector Rank
ROA 3.19%
ROE 13.1%
ROIC 8.78%
ROA(3y)4.56%
ROA(5y)4.84%
ROE(3y)33.06%
ROE(5y)31.01%
ROIC(3y)11.45%
ROIC(5y)11.1%
AJRD Yearly ROA, ROE, ROICAJRD Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 0 20 40

1.3 Margins

With a Profit Margin value of 3.21%, AJRD perfoms like the industry average, outperforming 50.79% of the companies in the same industry.
AJRD's Profit Margin has declined in the last couple of years.
With a decent Operating Margin value of 8.96%, AJRD is doing good in the industry, outperforming 68.25% of the companies in the same industry.
In the last couple of years the Operating Margin of AJRD has remained more or less at the same level.
AJRD has a Gross Margin of 14.13%. This is in the lower half of the industry: AJRD underperforms 68.25% of its industry peers.
In the last couple of years the Gross Margin of AJRD has declined.
Industry RankSector Rank
OM 8.96%
PM (TTM) 3.21%
GM 14.13%
OM growth 3Y-7%
OM growth 5Y-0.52%
PM growth 3Y-22.13%
PM growth 5YN/A
GM growth 3Y-7.26%
GM growth 5Y-2.47%
AJRD Yearly Profit, Operating, Gross MarginsAJRD Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 0 5 10 15

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), AJRD is creating some value.
The number of shares outstanding for AJRD has been increased compared to 1 year ago.
The debt/assets ratio for AJRD has been reduced compared to a year ago.
AJRD Yearly Shares OutstandingAJRD Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 20M 40M 60M
AJRD Yearly Total Debt VS Total AssetsAJRD Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 500M 1B 1.5B 2B 2.5B

2.2 Solvency

An Altman-Z score of 3.19 indicates that AJRD is not in any danger for bankruptcy at the moment.
AJRD has a Altman-Z score (3.19) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.51 indicates that AJRD is somewhat dependend on debt financing.
AJRD has a Debt to Equity ratio of 0.51. This is in the lower half of the industry: AJRD underperforms 61.90% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.51
Debt/FCF N/A
Altman-Z 3.19
ROIC/WACC1.01
WACC8.67%
AJRD Yearly LT Debt VS Equity VS FCFAJRD Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 200M 400M 600M

2.3 Liquidity

AJRD has a Current Ratio of 1.53. This is a normal value and indicates that AJRD is financially healthy and should not expect problems in meeting its short term obligations.
With a Current ratio value of 1.53, AJRD is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
AJRD has a Quick Ratio of 1.51. This is a normal value and indicates that AJRD is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of AJRD (1.51) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 1.53
Quick Ratio 1.51
AJRD Yearly Current Assets VS Current LiabilitesAJRD Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 500M 1B 1.5B

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5

3. Growth

3.1 Past

The earnings per share for AJRD have decreased strongly by -31.86% in the last year.
Measured over the past years, AJRD shows a quite strong growth in Earnings Per Share. The EPS has been growing by 13.91% on average per year.
The Revenue has been growing slightly by 4.08% in the past year.
The Revenue has been growing slightly by 3.57% on average over the past years.
EPS 1Y (TTM)-31.86%
EPS 3Y-6.27%
EPS 5Y13.91%
EPS Q2Q%-2.27%
Revenue 1Y (TTM)4.08%
Revenue growth 3Y4.13%
Revenue growth 5Y3.57%
Sales Q2Q%10.8%

3.2 Future

Based on estimates for the next years, AJRD will show a very strong growth in Earnings Per Share. The EPS will grow by 23.73% on average per year.
The Revenue is expected to grow by 6.01% on average over the next years.
EPS Next Y44.74%
EPS Next 2Y27.27%
EPS Next 3Y23.73%
EPS Next 5YN/A
Revenue Next Year8.54%
Revenue Next 2Y6.77%
Revenue Next 3Y6.01%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
AJRD Yearly Revenue VS EstimatesAJRD Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B
AJRD Yearly EPS VS EstimatesAJRD Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

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2

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 41.72, AJRD can be considered very expensive at the moment.
AJRD's Price/Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Earnings ratio of 28.78, AJRD is valued a bit more expensive.
With a Price/Forward Earnings ratio of 25.57, AJRD can be considered very expensive at the moment.
The rest of the industry has a similar Price/Forward Earnings ratio as AJRD.
The average S&P500 Price/Forward Earnings ratio is at 21.32. AJRD is around the same levels.
Industry RankSector Rank
PE 41.72
Fwd PE 25.57
AJRD Price Earnings VS Forward Price EarningsAJRD Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

AJRD's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.91
AJRD Per share dataAJRD EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20 25

4.3 Compensation for Growth

AJRD's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
AJRD's earnings are expected to grow with 23.73% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.93
PEG (5Y)3
EPS Next 2Y27.27%
EPS Next 3Y23.73%

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2

5. Dividend

5.1 Amount

With a yearly dividend of 0.06%, AJRD is not a good candidate for dividend investing.
AJRD's Dividend Yield is a higher than the industry average which is at 1.36.
With a Dividend Yield of 0.06, AJRD pays less dividend than the S&P500 average, which is at 2.46.
Industry RankSector Rank
Dividend Yield 0.06%

5.2 History

The dividend of AJRD decreases each year by -10.86%.
AJRD is new to the dividend game and has less than 3 years of track record.
Dividend Growth(5Y)-10.86%
Div Incr Years0
Div Non Decr Years0
AJRD Yearly Dividends per shareAJRD Yearly Dividends per shareYearly Dividends per share 2021 1 2 3 4

5.3 Sustainability

2.71% of the earnings are spent on dividend by AJRD. This is a low number and sustainable payout ratio.
DP2.71%
EPS Next 2Y27.27%
EPS Next 3Y23.73%
AJRD Yearly Income VS Free CF VS DividendAJRD Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 0 100M 200M 300M 400M
AJRD Dividend Payout.AJRD Dividend Payout, showing the Payout Ratio.AJRD Dividend Payout.PayoutRetained Earnings

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AEROJET ROCKETDYNE HOLDINGS

NYSE:AJRD (7/27/2023, 8:04:00 PM)

After market: 57.99 0 (0%)

57.99

+0.81 (+1.42%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)07-24 2023-07-24/amc
Earnings (Next)10-30 2023-10-30/amc
Inst Owners0%
Inst Owner Change0%
Ins Owners1.45%
Ins Owner Change0%
Market Cap4.68B
Analysts43.33
Price Target57.12 (-1.5%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.06%
Yearly Dividend0.03
Dividend Growth(5Y)-10.86%
DP2.71%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-25.97%
Min EPS beat(2)-48.49%
Max EPS beat(2)-3.46%
EPS beat(4)0
Avg EPS beat(4)-27.9%
Min EPS beat(4)-59.15%
Max EPS beat(4)-0.49%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)2.98%
Min Revenue beat(2)2.75%
Max Revenue beat(2)3.21%
Revenue beat(4)2
Avg Revenue beat(4)-1.6%
Min Revenue beat(4)-8.89%
Max Revenue beat(4)3.21%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-1.75%
PT rev (3m)-1.75%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.36%
Revenue NY rev (1m)3.08%
Revenue NY rev (3m)3.08%
Valuation
Industry RankSector Rank
PE 41.72
Fwd PE 25.57
P/S 2.04
P/FCF N/A
P/OCF N/A
P/B 8.32
P/tB 12.5
EV/EBITDA 17.91
EPS(TTM)1.39
EY2.4%
EPS(NY)2.27
Fwd EY3.91%
FCF(TTM)-0.58
FCFYN/A
OCF(TTM)-0.08
OCFYN/A
SpS28.39
BVpS6.97
TBVpS4.64
PEG (NY)0.93
PEG (5Y)3
Profitability
Industry RankSector Rank
ROA 3.19%
ROE 13.1%
ROCE N/A
ROIC 8.78%
ROICexc 10.58%
ROICexgc 12.25%
OM 8.96%
PM (TTM) 3.21%
GM 14.13%
FCFM N/A
ROA(3y)4.56%
ROA(5y)4.84%
ROE(3y)33.06%
ROE(5y)31.01%
ROIC(3y)11.45%
ROIC(5y)11.1%
ROICexc(3y)32.24%
ROICexc(5y)27.47%
ROICexgc(3y)87.08%
ROICexgc(5y)63.17%
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y-17.33%
ROICexcg growth 5Y-1.91%
ROICexc growth 3Y-13.99%
ROICexc growth 5Y-0.07%
OM growth 3Y-7%
OM growth 5Y-0.52%
PM growth 3Y-22.13%
PM growth 5YN/A
GM growth 3Y-7.26%
GM growth 5Y-2.47%
F-Score4
Asset Turnover0.99
Health
Industry RankSector Rank
Debt/Equity 0.51
Debt/FCF N/A
Debt/EBITDA 1.15
Cap/Depr 71.35%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.53
Quick Ratio 1.51
Altman-Z 3.19
F-Score4
WACC8.67%
ROIC/WACC1.01
Cap/Depr(3y)71.8%
Cap/Depr(5y)66.55%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-31.86%
EPS 3Y-6.27%
EPS 5Y13.91%
EPS Q2Q%-2.27%
EPS Next Y44.74%
EPS Next 2Y27.27%
EPS Next 3Y23.73%
EPS Next 5YN/A
Revenue 1Y (TTM)4.08%
Revenue growth 3Y4.13%
Revenue growth 5Y3.57%
Sales Q2Q%10.8%
Revenue Next Year8.54%
Revenue Next 2Y6.77%
Revenue Next 3Y6.01%
Revenue Next 5YN/A
EBIT growth 1Y-27.62%
EBIT growth 3Y-3.16%
EBIT growth 5Y3.04%
EBIT Next Year59.1%
EBIT Next 3Y21.59%
EBIT Next 5YN/A
FCF growth 1Y-118.2%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-102.09%
OCF growth 3YN/A
OCF growth 5YN/A