Nauticus Robotics, Inc. (NASDAQ: KITT)

Sector: Industrials Industry: Aerospace & Defense CIK: 0001849820
Market Cap 931,595.04
P/B -0.23
P/E -0.01
P/S 0.20
ROIC (Qtr) -92.33
Div Yield % 0.00
Rev 1y % (Qtr) 434.00
Total Debt (Qtr) 30.92 Mn
Debt/Equity (Qtr) -7.50

About

Nauticus Robotics, Inc. (KITT) operates in the ocean industries, developing autonomous robots and related software for both commercial and defense sectors. The company's operations span across various ocean realms, offering advanced subsea vehicles, components, and software solutions. Nauticus generates revenue through its primary products, which include the Aquanaut, a transformable hull subsea vehicle designed for inspection, maintenance, and repair work in subsea oil & gas and offshore wind energy applications. The company also offers ToolKITT,...

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Price action

Investment thesis

Bull case

  • Strong free cash flow of (23.11M) provides 6.39x coverage of acquisition spending (3.62M), indicating disciplined M&A strategy.
  • Retained earnings of (278.79M) represent substantial 67.62x of equity (4.12M), indicating strong internal capital generation.
  • Cash reserves of 5.55M provide solid 153.30x coverage of other non-current liabilities 36175, indicating strong liquidity.
  • Cash reserves of 5.55M exceed inventory value of 914748 by 6.06x, indicating strong liquidity and inventory management.
  • Strong tangible asset base of 32.16M provides 3.02x coverage of intangibles 10.65M, indicating robust asset quality.

Bear case

  • Investment activities of (3.71M) provide weak support for R&D spending of 19316, which is -192.18x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Cash reserves of 5.55M provide limited coverage of acquisition spending of (3.62M), which is -1.53x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • The company's operating cash flow of (23.02M) shows concerning coverage of stock compensation expenses of 1.40M, with a -16.45 ratio indicating potential earnings quality issues.
  • Free cash flow of (23.11M) provides weak coverage of capital expenditures of 96139, with a -240.41 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (101.35M) show weak coverage of depreciation charges of 2.58M, with a -39.25 ratio indicating high capital intensity and potential reinvestment needs.

Peer comparison

Companies in the Aerospace & Defense
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 GE General Electric Co 342.94 Bn 42.54 7.80 20.84 Bn
2 RTX RTX Corp 252.05 Bn 38.24 2.93 40.71 Bn
3 BA Boeing Co 174.43 Bn -17.16 2.16 53.35 Bn
4 LMT Lockheed Martin Corp 126.61 Bn 30.15 1.73 22.19 Bn
5 GD General Dynamics Corp 95.62 Bn 22.69 1.86 8.01 Bn
6 NOC Northrop Grumman Corp /De/ 89.30 Bn 22.22 2.18 16.96 Bn
7 HWM Howmet Aerospace Inc. 88.16 Bn 60.80 11.05 3.19 Bn
8 TDG TransDigm Group INC 80.97 Bn 43.39 9.17 30.02 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.68 3.58
EV to Cash from Ops. EV/CFO -1.27 58.38
EV to Debt EV to Debt 0.95 98.04
EV to EBIT EV/EBIT -0.29 19.42
EV to EBITDA EV/EBITDA -1.36 33.60
EV to Free Cash Flow [EV/FCF] EV/FCF -1.27 91.66
EV to Market Cap EV to Market Cap 31.44 1.13
EV to Revenue EV/Rev 6.25 11.27
Price to Book Value [P/B] P/B -0.23 4.81
Price to Earnings [P/E] P/E -0.01 31.79
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -3.75
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 22.95
Dividend per Basic Share Div per Share (Qtr) 0.00 0.70
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 14.15
Interest Coverage Int. cover (Qtr) -20.87 -18.00
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 92.59 -50.32
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 86.88 1,609.43
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.75
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -19.65 -30.98
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 56.52 10.65
EBIT Growth (1y) % EBIT 1y % (Qtr) -19.65 -26.90
EBT Growth (1y) % EBT 1y % (Qtr) -18.12 -27.25
EPS Growth (1y) % EPS 1y % (Qtr) 86.64 -99.21
FCF Growth (1y) % FCF 1y % (Qtr) 12.74 6.61
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 33.39 -5.55
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.11 0.51
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.07
Cash Ratio Cash Ratio (Qtr) 0.12 1.76
Current Ratio Curr Ratio (Qtr) 0.21 3.72
Debt to Equity Ratio Debt/Equity (Qtr) -7.50 0.07
Interest Cover Ratio Int Coverage (Qtr) -20.87 -18.00
Times Interest Earned Times Interest Earned (Qtr) -20.87 -18.00
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -2,106.40 -345.84
EBIT Margin % EBIT Margin % (Qtr) -2,161.43 -382.63
EBT Margin % EBT Margin % (Qtr) -2,264.99 -387.93
Gross Margin % Gross Margin % (Qtr) -137.30 -33.31
Net Profit Margin % Net Margin % (Qtr) -2,265.00 -389.13