SKYX Platforms Corp. (NASDAQ: SKYX)

Sector: Industrials Industry: Electrical Equipment & Parts CIK: 0001598981
Market Cap 223.11 Mn
P/B -58.12
P/E -6.11
P/S 2.46
ROIC (Qtr) -86.68
Div Yield % 0.00
Rev 1y % (Qtr) 7.77
Total Debt (Qtr) 37.35 Mn
Debt/Equity (Qtr) -9.73
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About

Investment thesis

Bull case

  • Tangible assets of 37.14M provide exceptional 13.40x coverage of deferred revenue 2.77M, showing strong service capability backing.
  • Operating cash flow of (16.61M) fully covers other non-current liabilities (1.24M) by 13.42x, showing strong long-term stability.
  • Strong free cash flow of (17.91M) provides 23.88x coverage of acquisition spending (750000), indicating disciplined M&A strategy.
  • Free cash flow of (17.91M) provides excellent 25.69x coverage of dividends (697171), indicating sustainable shareholder returns.
  • Retained earnings of (208.05M) represent substantial 54.19x of equity (3.84M), indicating strong internal capital generation.

Bear case

  • Cash reserves of 7.83M provide limited coverage of acquisition spending of (750000), which is -10.44x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • Operating cash flow of (16.61M) provides insufficient coverage of deferred revenue obligations of 2.77M, which is -5.99x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (16.61M) shows concerning coverage of stock compensation expenses of 14.47M, with a -1.15 ratio indicating potential earnings quality issues.
  • Free cash flow of (17.91M) provides weak coverage of capital expenditures of 1.31M, with a -13.72 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (30.98M) show weak coverage of depreciation charges of 4.53M, with a -6.84 ratio indicating high capital intensity and potential reinvestment needs.

Peer comparison

Companies in the Electrical Equipment & Parts
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 VRT Vertiv Holdings Co 93.00 Bn 69.78 9.09 3.16 Bn
2 BE Bloom Energy Corp 34.73 Bn -392.76 17.16 2.99 Bn
3 HUBB Hubbell Inc 27.97 Bn 31.52 4.78 2.33 Bn
4 NVT nVent Electric plc 19.43 Bn 76.81 8.40 1.56 Bn
5 AYI Acuity Inc. (De) 12.85 Bn 109.95 6.86 0.91 Bn
6 AEIS Advanced Energy Industries Inc 11.80 Bn 79.52 6.56 0.68 Bn
7 NVX NOVONIX Ltd 11.53 Bn -174.00 1,943.36 -
8 ENS EnerSys 6.79 Bn 21.71 1.82 1.18 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 4.25 3.49
EV to Cash from Ops. EV/CFO -14.96 9.10
EV to Debt EV to Debt 6.65 113.17
EV to EBIT EV/EBIT -8.02 -17.64
EV to EBITDA EV/EBITDA -9.25 3.56
EV to Free Cash Flow [EV/FCF] EV/FCF -13.87 39.13
EV to Market Cap EV to Market Cap 1.11 2.59
EV to Revenue EV/Rev 2.74 77.74
Price to Book Value [P/B] P/B -58.12 4.98
Price to Earnings [P/E] P/E -6.11 23.89
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) -21.65 -2.92
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 3.27
Dividend per Basic Share Div per Share (Qtr) 0.00 0.37
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 1.79
Interest Coverage Int. cover (Qtr) -6.85 -16.86
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -221.64 -135.37
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -40.00 92.17
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 5.22
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 10.31 -45.52
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 12.32 -56.26
EBIT Growth (1y) % EBIT 1y % (Qtr) 10.31 -64.20
EBT Growth (1y) % EBT 1y % (Qtr) 6.77 8.52
EPS Growth (1y) % EPS 1y % (Qtr) 12.50 13.91
FCF Growth (1y) % FCF 1y % (Qtr) -10.13 -66.58
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 0.96 15.53
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 1.55 0.63
Cash Payout Ratio Cash Payout (Qtr) -0.04 -0.10
Cash Ratio Cash Ratio (Qtr) 0.31 3.50
Current Ratio Curr Ratio (Qtr) 0.65 5.07
Debt to Equity Ratio Debt/Equity (Qtr) -9.73 0.41
Interest Cover Ratio Int Coverage (Qtr) -6.85 -16.86
Times Interest Earned Times Interest Earned (Qtr) -6.85 -16.86
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -29.20 -1,947.23
EBIT Margin % EBIT Margin % (Qtr) -34.14 -2,051.19
EBT Margin % EBT Margin % (Qtr) -39.12 -2,170.94
Gross Margin % Gross Margin % (Qtr) 28.50 2.02
Net Profit Margin % Net Margin % (Qtr) -40.20 -2,202.04