Redwire Corp
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
Red holds because the governance finding itself did not change in the second quarter of 2026 — and that is literally true: the quarterly report as of June 30, 2026 confirms "no change" in internal control over financial reporting and still "cannot at this time estimate" how long remediation will take; the subsequent-events section even appears in the filed document as a literal "[TBD]" placeholder. That remains a balance-sheet/governance breach under our criteria, not a footnote — and it now carries more weight, not less: the Defense Tech segment, which delivered essentially the entire positive result this quarter ($61.9 million revenue, +$14.1 million Adjusted EBITDA) and carries most of the $772.2 million of goodwill, is the very same unit whose IT controls remain rated ineffective. On top of that, dilution genuinely continued: 249,992,609 shares as of August 3, 2026, up roughly 30 percent since year-end 2025, with $350.4 million of ATM capacity still open and management explicitly calling further acquisitions "fundamental." In fairness, the other side deserves to be said plainly, because it does not undo this rating but does put it in context: the operating turnaround is now documented across two quarters running — record revenue, a record $542.1 million backlog, affirmed (if not raised) revenue guidance, and a balance sheet that is visibly stronger with preferred stock converted into common stock and debt cut to $48.1 million. Those results continue to speak well of the management team — but they do not cancel the governance finding; they only show work is underway on the operating front while the control question has sat unmoved for at least two quarters. Whether that is enough to move the light to yellow at the next annual report still depends chiefly on a clean remediation of internal controls — not on the stock price. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Redwire Space delivered a record second quarter of 2026: $117.1 million of revenue, a record $542.1 million backlog, and a noticeably de-levered balance sheet with preferred stock converted into common stock. The same report, though, states that internal control over financial reporting showed "no change" and still carries no remediation timeline, the share count grew a further roughly 30 percent since year-end 2025, and the positive result comes almost entirely from the segment with the weakest controls, while the namesake space business shrinks slightly. Not investment advice.
Governance & internal controls
The quarterly report as of June 30, 2026 explicitly states "no change" in internal control over financial reporting and names no timeline for remediation; the "Subsequent Events" section even appears in the filing as a literal "[TBD]" placeholder. No analyst asked about it on the August 6, 2026 call.
Dilution
Share count rose to 249,992,609 (08/03/2026) — up roughly 30 percent since year-end 2025. $350.4 million remains open on the $500 million ATM program, and management explicitly calls further acquisitions "fundamental to our DNA."
Operating turnaround — with a segment caveat
Record quarter: $117.1 million of revenue (+89.6% y/y), 27.8% gross margin, $542.1 million backlog (record). The catch: almost the entire positive result comes from the acquired Defense Tech segment (+$14.1 million Adjusted EBITDA); Space shrank slightly and is back to negative $4.2 million Adjusted EBITDA.
Goodwill concentration risk (Edge)
Goodwill from the Edge acquisition now stands at $772.2 million (Space $37.1 million, Defense Tech $735.1 million) — no further impairment in the first half of 2026, but the unit carrying the largest goodwill balance is the same one still lacking effective IT controls.
Debt & balance-sheet structure
Financial debt cut to $48.1 million, the expensive Series A preferred stock fully converted into common stock (zero outstanding), interest expense near zero, cash at $557.0 million. Total equity rose to $1,629.9 million — driven overwhelmingly by new shares, but this time also by a visibly de-levered balance sheet.
Earnings quality & guidance pace
Net loss narrowed to $41.0 million (Q2 2026); Adjusted EBITDA stayed just negative at −$3.2 million. Full-year 2026 revenue guidance ($450–$500 million) was affirmed, not raised; management itself is dampening margin expectations ("low-to-mid 20 percent").
Worth Noting
Redwire reached our research list via our in-house stock scanner, triggered by a contradiction between balance-sheet strength and middling overall quality — on a stock that hit an all-time high of $26.64 in the spring 2026 SpaceX hype, had given back roughly two-thirds of it, and then jumped roughly 27 percent over two days after the August 5, 2026 Q2 report.
Recency gate: the most recent periodic report evaluated is the quarterly report (10-Q) as of June 30, 2026, filed under accession no. 0001819810-26-000124 (results released after market close on August 5, 2026, call on August 6, 2026).
Price reaction: August 5, 2026 close $10.72 (before results) → August 6 roughly +9.8% → August 7, 2026 close $13.59; market capitalization on that basis roughly $3.4 billion (249,992,609 shares).
Risk of confusion: Redwire Corporation (Redwire Space, NYSE: RDW) is an independent company with no tie to SpaceX; name and topical similarity caused confusion on forums during the spring 2026 SpaceX-IPO hype.
The quality light rates the company, not the entry price: whether the stock is cheap or expensive at the current price ($13.59, 08/07/2026) is a question for the scanners and valuation metrics (enterprise value to sales roughly 6.1 on the guidance midpoint), not this light.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at RDW since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 5.10 $ to 25.90 $ · Last price: 11.60 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Aerospace & Defense
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Redwire Corp RDW | 2.4 | – | -3.1 | 22.7 | -71.8 | 10.3 | 46.8 |
| Space Exploration Technologies Corp. SPCX | 1,172.1 | – | 511.6 | 51.9 | – | – | – |
| GE Aerospace GE | 326.7 | 40.1 | 27.6 | 31.1 | 20.2 | 18.5 | 8.8 |
| RTX Corporation RTX | 254.2 | 36.5 | 18.5 | 20.3 | 13.2 | 9.7 | 24.1 |
| The Boeing Company BA | 155.3 | 78.7 | 25.5 | 4.7 | 1.7 | 34.5 | -8.2 |
| Lockheed Martin Corporation LMT | 124.1 | 26.0 | 13.6 | 11.8 | 11.0 | 5.7 | 16.7 |
| General Dynamics Corporation GD | 96.7 | 22.8 | 15.1 | 15.4 | 10.5 | 10.1 | 11.4 |
| Howmet Aerospace Inc HWM | 90.3 | 52.0 | 34.8 | 36.0 | 28.2 | 11.1 | 22.0 |
| Northrop Grumman Corporation NOC | 73.6 | 16.6 | 11.8 | 20.1 | 11.7 | 2.2 | -7.7 |
| Median of companies shown | 124.1 | 36.5 | 18.5 | 20.3 | 11.3 | 10.2 | 14.0 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2019 | 19 | -3 | -3 | -0.06 | 6 | -4 | 10 |
| 2020 | 57 | 0 | 0 | 0.00 | -12 | 39 | 157 |
| 2021 | 138 | -70 | -62 | -0.98 | -37 | 107 | 262 |
| 2022 | 161 | -146 | -131 | -2.03 | -32 | 70 | 258 |
| 2023 | 244 | -16 | -27 | -0.42 | 1 | 53 | 271 |
| 2024 | 304 | -42 | -114 | -1.73 | -17 | -52 | 293 |
| 2025 | 335 | -230 | -227 | -1.90 | -177 | 1,060 | 1,449 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -1.01 | – | 70 | 9.60 | -96.60 | 7 | 3 |
| 2025: Q1 | -0.09 | – | 61 | -30.10 | -4.80 | -45 | -47 |
| 2025: Q2 | -1.41 | – | 62 | -20.90 | -157.00 | -88 | -91 |
| 2025: Q3 | -0.40 | – | 103 | 50.70 | -39.80 | -20 | -28 |
| 2025: Q4 | -0.50 | – | 109 | 56.40 | -78.60 | -24 | -30 |
| 2026: Q1 | -0.40 | – | 97 | 57.90 | -78.90 | -8 | -12 |
| 2026: Q2 | -0.19 | 86.50 | 117 | 89.50 | -35.00 | -25 | -33 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 8 of our scanner strategies — each hit links to the scanner.
Breakout & Setup
Momentum & Trend
- High ADR (≥5%)
- Kathy Donnelly: Liquid Movers Up
- Mike Webster: Swing Trading List
- Richard Moglen: Top Performers 3/6 Month
- Stan Weinstein: Stage 2
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -0.49 | -0.53 – -0.44 | 475 | 47.5% | 2 |
| 12/31/2027 | -0.30 | -0.32 – -0.27 | 564 | 39.2% | 2 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Die Unternehmensbeschreibung im 10-K 2025 (Item 1 Business) und in der MD&A der Quartalsberichte führt „digital engineering and artificial intelligence automation“ als Bestandteil des eigenen Angebots; im UAS-Geschäft des Segments Defense Tech werden ausdrücklich Lösungen mit KI-gestützter Datenverarbeitung entwickelt und ausgeliefert, und das 10-K bezeichnet KI als in Teile der eigenen Software integriertes, bedeutendes und wachsendes Element des Geschäfts. KI ist damit belegter Bestandteil der verkauften Kernangebote — kein KI-Pure-Play und ohne separat ausgewiesenen KI-Umsatz. Die Risk Factors nennen zwar KI-starke Wettbewerber als Gefahr, doch nach der Vorrang-Regel (verkauft vor bedroht) zählt, dass KI zugleich Teil der Umsatzquelle ist.
View the full file — quotes, sources, reviewed filings
„Powered by this vision, Redwire is building the future of aerospace infrastructure, autonomous systems, and multi-domain operations, leveraging digital engineering and artificial intelligence (“AI”) automation."
Getragen von dieser Vision baut Redwire die Zukunft der Aerospace-Infrastruktur, autonomer Systeme und domänenübergreifender Operationen — gestützt auf Digital Engineering und Automatisierung mit Künstlicher Intelligenz („KI“).
10-K · 2026-02-27 · View SEC filing
„We have and in the future may continue to incorporate AI solutions into our core offerings, and these applications may become important in our operations over time."
Wir haben KI-Lösungen in unsere Kernangebote integriert und werden dies möglicherweise auch künftig tun; diese Anwendungen könnten im Laufe der Zeit für unseren Betrieb wichtig werden.
10-K · 2026-02-27 · View SEC filing
„AI is enabled by or integrated into some of our software and is a significant and potentially growing element of our business."
KI ist in Teilen unserer Software aktiviert oder in sie integriert und ist ein bedeutendes und potenziell wachsendes Element unseres Geschäfts.
10-K · 2026-02-27 · View SEC filing
„We design and deploy UAS technology through solutions including autonomous flight systems, artificial intelligence (“AI”) powered data processing, and specialized sensors."
Wir entwickeln und liefern UAS-Technologie über Lösungen, die autonome Flugsysteme, KI-gestützte Datenverarbeitung und spezialisierte Sensorik umfassen.
10-Q · 2025-11-06 · View SEC filing
Filings Reviewed: 10-Q 2026-05-07 · 10-K 2026-02-27 · 10-Q 2025-11-06 · 10-Q 2025-08-07 · 10-Q 2025-05-12 · 10-K 2025-03-11
Rated on August 1, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 27.8%
- More than 10% revenue growth is expected for the coming year 20.2%
- Share count grows by less than 3% a year 23.0%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -46.6%
- Gross margin at 40% or higher and without meaningful erosion 5.2%
- Goodwill from acquisitions does not grow faster than revenue 53.8%
- Net debt below twice EBITDA failed
- Operating cash flow covers the profits of the last three years 175 m
- Return on capital at 15% or higher, or up versus two years ago -17.8%
- Insiders hold at least 10% or are net buyers 1.3%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
4/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 61.3%
- Exp. sales growth 3Y > 5% 29.7%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 29.7%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 0
- Max. EBIT decline < 50% –
- Return on equity > 15% –
- ROCE > 15% -17.8%
- Expected return > 10% 19.4%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Jul 14, 2026 | Futch Aaron Michael | EVP, GC and Secretary | Other | 2,271 | 9.74 | 22,120 |
| Jul 14, 2026 | Futch Aaron Michael | EVP, GC and Secretary | Other | 45,455 | 0.00 | – |
| Jul 14, 2026 | Cannito Peter Anthony Jr | Chairman and CEO | Other | 12,631 | 9.74 | 123,026 |
| Jul 14, 2026 | Cannito Peter Anthony Jr | Chairman and CEO | Other | 190,637 | 0.00 | – |
| Jul 14, 2026 | Gold Michael N. | President, Space | Other | 3,777 | 9.74 | 36,788 |
| Jul 14, 2026 | Gold Michael N. | President, Space | Other | 63,637 | 0.00 | – |
| Jul 14, 2026 | Edmunds Chris | Chief Financial Officer | Other | 1,160 | 9.74 | 11,298 |
| Jul 14, 2026 | Edmunds Chris | Chief Financial Officer | Other | 76,364 | 0.00 | – |
| Jul 11, 2026 | Futch Aaron Michael | EVP, GC and Secretary | Other | 1,834 | 10.18 | 18,670 |
| Jul 11, 2026 | Gold Michael N. | President, Space | Other | 11,457 | 10.18 | 116,632 |
The company
About the Company
Redwire Corporation bietet kritische Weltraumlösungen und Weltrauminfrastruktur für staatliche und kommerzielle Kunden in den USA, Europa und international an. Es ist in zwei Segmenten tätig: Space und Defense Tech.
- Employees
- 1,410
- Headquarters
- Jacksonville, FL
- Address
- 8226 Philips Highway, 32256 Jacksonville, United States
- Phone
- 650 701 7722
- Website
- rdw.com
- IPO Date
- 09/02/2021
- ISIN
- US75776W1036
Management
| Name | Title | Birth Year |
|---|---|---|
| Peter Anthony Cannito Jr. | President, CEO & Chairman | 1973 |
| Chris Edmunds | Chief Financial Officer | 1984 |
| Aaron Futch | Executive VP, General Counsel & Secretary | 1973 |
| Austin Jordan | Executive VP of Strategic Communications & Chief Marketing Officer | – |
| Michael Gold | President of Redwire Space | 1974 |
| Jeff Zeunik | Senior Vice President of Financial Planning & Analysis | – |
| Allen G. Flynt | Senior Vice President of Space Platforms & Robotics | – |
| Alex Curatolo | Senior Director of Investor Relations | – |
| Josh Stinson | Co-President & Chief Growth Officer of Redwire Defense Tech | – |
| Josh Brungardt | Co-President & COO of Redwire Defense Tech | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/05/2026 Redwire Corp (RDW): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 07/14/2026 Redwire Corp (RDW): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.