SATL Industrials

Satellogic Inc.

$3.29+6.82%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Industrials
Industry: Aerospace & Defense
Country: United States
Market cap: 505.8M USD
Enterprise value: 500.2M USD
Full-time employees: 154

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.36 vs a peer median of 0.64) and more debt relative to equity (2.85× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.36 vs peers 0.64) and more debt vs equity (2.85× vs peers 0.40×)

Ranks #1,968 of 2,308 industrials companies (bottom 15%)

See how it ranks against its peers

Worth knowing

Much more borrowing than peers. Debt is 2.8× equity vs a peer median of 0.4×.Debt is 2.8× equity vs peers 0.4×.
Debt is 2.8× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 2.8× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.
Stock-based pay is a large cost. Stock pay was 24% of revenue in 2025.
Satellogic paid employees $4M in stock in 2025, 24% of its $18M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Operating loss narrowing. Operating margin -175% in 2025, the smallest loss relative to revenue of the last 5 years.
Satellogic still lost money on operations in 2025 (margin -175%), but that was its smallest operating loss relative to revenue in the 5 years of filings we have.
Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($32M of revenue over 12 months).
Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -67%).

StockQuotient Score

29/ 100

Oct 5 29 → Nov 4 29

Valuation

Is the price right?

9/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-21.0%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yield-3.1%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.64Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield-8.5%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield6.8%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

95/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 56.2%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.28Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth67.3%

SEC filings · 3 years to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.72Sector median: 0.0421 · MAD: 0.0625

Revenue growth130.1%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.55Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

5/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-66.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -5.28Sector median: 0.0773 · MAD: 0.0507

Return on assets-52.9%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.56Sector median: 0.0311 · MAD: 0.0241

Return on invested capital2.8%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score -0.78Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin78.9%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity-306.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.36

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.60Sector median: 0.6440 · MAD: 0.2745

Current ratio2.34×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.34Sector median: 1.6180 · MAD: 0.5360

Debt / equity2.85×

Yahoo Finance fallback · no standard SEC debt tagOutlier capped at sector 5th/95th percentile33% base weight · Z-score -6.37Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Satellogic

Is Satellogic getting weaker?: Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 29/100 since Oct 28, 2026.
How is Satellogic valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 9/100 against 2,459 industrials peers. Earnings yield -21.0% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -21.0% vs peers 3.8% (weaker than 100% of peers).
Is Satellogic growing?: Yes, faster than most of its peers. Growth scores 95/100 against 2,459 industrials peers. 3-year revenue growth 67.3% vs a peer median of 4.2% (stronger than 95% of peers).3-year revenue growth 67.3% vs peers 4.2% (stronger than 95% of peers).
How profitable is Satellogic?: Less profitable than most of its peers. Profitability scores 5/100 against 2,459 industrials peers. Operating margin -66.8% vs a peer median of 7.7% (weaker than 100% of peers).Operating margin -66.8% vs peers 7.7% (weaker than 100% of peers).
How risky is Satellogic?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 2.34× vs a peer median of 1.62× (stronger than 73% of peers).Current ratio 2.34× vs peers 1.62× (stronger than 73% of peers). Debt / equity 2.85× vs a peer median of 0.40× (weaker than 100% of peers).Debt / equity 2.85× vs peers 0.40× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

Worth watching: Satellogic is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	20.4M USD	31.9M USD	+56.2%
Net income (12 months)	−90.5M USD	−103.9M USD	+14.8%
Operating margin	-136.4%	-66.8%	+69.6 pts
Free cash flow (12 months)	−33.0M USD	−42.2M USD	+27.7%
Cash	121.9M USD	112.8M USD	−7.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Aerospace & Defense · 48 companies

Valuations in Aerospace & Defense are near the top of their range since 2016.

88% of months since 2016 were valued lower than now.
50% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +71% and earnings +71% (medians): prices and earnings moved broadly together.
Median price-to-sales is +41% vs the whole market, against a usual −16%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	55.8%	—	—	—	—	—
Operating margin	-1616.1%	-1511.4%	-688.9%	-405.6%	-175.2%	▲ 230 pts
Net margin	-2772.3%	—	—	-903.4%	-27.0%	▲ 876 pts
Return on assets (ROA)	-235.9%	—	—	-188.5%	-3.2%	▲ 185 pts
Return on equity (ROE)	—	—	—	—	-7.9%	—
Free cash flow margin	-934.1%	-1592.0%	-639.8%	-318.0%	-193.5%	▲ 125 pts
Current ratio	0.04×	2.70×	1.24×	0.80×	5.12×	▲ 536%
Quick ratio	—	—	—	0.80×	5.02×	▲ 524%
Debt to equity	—	0.00×	—	—	—	—
Interest coverage	-7.07×	-53.67×	—	—	—	—

SATL price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.36 vs a peer median of 0.64) and more debt relative to equity (2.85× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.36 vs peers 0.64) and more debt vs equity (2.85× vs peers 0.40×)

Ranks #1,968 of 2,308 industrials companies (bottom 15%)

See how it ranks against its peers

Worth knowing

Much more borrowing than peers. Debt is 2.8× equity vs a peer median of 0.4×.Debt is 2.8× equity vs peers 0.4×.

Debt is 2.8× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 2.8× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.

Stock-based pay is a large cost. Stock pay was 24% of revenue in 2025.

Satellogic paid employees $4M in stock in 2025, 24% of its $18M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Operating loss narrowing. Operating margin -175% in 2025, the smallest loss relative to revenue of the last 5 years.

Satellogic still lost money on operations in 2025 (margin -175%), but that was its smallest operating loss relative to revenue in the 5 years of filings we have.

Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($32M of revenue over 12 months).

Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -67%).

Questions investors ask about Satellogic

Is Satellogic getting weaker?

Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 29/100 since Oct 28, 2026.

How is Satellogic valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 9/100 against 2,459 industrials peers. Earnings yield -21.0% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -21.0% vs peers 3.8% (weaker than 100% of peers).

Is Satellogic growing?

Yes, faster than most of its peers. Growth scores 95/100 against 2,459 industrials peers. 3-year revenue growth 67.3% vs a peer median of 4.2% (stronger than 95% of peers).3-year revenue growth 67.3% vs peers 4.2% (stronger than 95% of peers).

How profitable is Satellogic?

Less profitable than most of its peers. Profitability scores 5/100 against 2,459 industrials peers. Operating margin -66.8% vs a peer median of 7.7% (weaker than 100% of peers).Operating margin -66.8% vs peers 7.7% (weaker than 100% of peers).

How risky is Satellogic?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 2.34× vs a peer median of 1.62× (stronger than 73% of peers).Current ratio 2.34× vs peers 1.62× (stronger than 73% of peers). Debt / equity 2.85× vs a peer median of 0.40× (weaker than 100% of peers).Debt / equity 2.85× vs peers 0.40× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

20.4M USD

31.9M USD

+56.2%

Net income (12 months)

−90.5M USD

−103.9M USD

+14.8%

Operating margin

-136.4%

-66.8%

+69.6 pts

Free cash flow (12 months)

−33.0M USD

−42.2M USD

+27.7%

Cash

121.9M USD

112.8M USD

−7.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

55.8%

—

Operating margin

-1616.1%

-1511.4%

-688.9%

-405.6%

-175.2%

▲ 230 pts

Net margin

-2772.3%

—

-903.4%

-27.0%

▲ 876 pts

Return on assets (ROA)

-235.9%

—

-188.5%

-3.2%

▲ 185 pts

Return on equity (ROE)

—

-7.9%

—

Free cash flow margin

-934.1%

-1592.0%

-639.8%

-318.0%

-193.5%

▲ 125 pts

Current ratio

0.04×

2.70×

1.24×

0.80×

5.12×

▲ 536%

Quick ratio

—

0.80×

5.02×

▲ 524%

Debt to equity

—

0.00×

—

Interest coverage

-7.07×

-53.67×

—