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Aerojet Rocketdyne Holdings

Executive Summary

Aerojet Rocketdyne Holdings, Inc. designs, develops, manufactures, and sells aerospace and defense products and systems in the United States.


Snowflake Analysis

Excellent balance sheet with acceptable track record.


Similar Companies

Share Price & News

How has Aerojet Rocketdyne Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: GCY has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

7.6%

GCY

5.0%

DE Aerospace & Defense

1.5%

DE Market


1 Year Return

15.3%

GCY

-32.5%

DE Aerospace & Defense

-0.2%

DE Market

Return vs Industry: GCY exceeded the German Aerospace & Defense industry which returned -32.5% over the past year.

Return vs Market: GCY exceeded the German Market which returned -0.2% over the past year.


Shareholder returns

GCYIndustryMarket
7 Day7.6%5.0%1.5%
30 Day2.1%3.3%5.7%
90 Day-14.7%-34.1%-2.7%
1 Year15.3%15.3%-32.3%-32.5%1.5%-0.2%
3 Year107.0%107.0%-15.7%-19.7%-7.1%-14.3%
5 Year126.3%126.3%16.4%6.0%5.2%-8.3%

Price Volatility Vs. Market

How volatile is Aerojet Rocketdyne Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Aerojet Rocketdyne Holdings undervalued compared to its fair value and its price relative to the market?

6.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GCY (€39.6) is trading below our estimate of fair value (€42.5)

Significantly Below Fair Value: GCY is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: GCY is poor value based on its PE Ratio (25.7x) compared to the Aerospace & Defense industry average (15.6x).

PE vs Market: GCY is poor value based on its PE Ratio (25.7x) compared to the German market (19.3x).


Price to Earnings Growth Ratio

PEG Ratio: GCY is poor value based on its PEG Ratio (2.9x)


Price to Book Ratio

PB vs Industry: GCY is overvalued based on its PB Ratio (5.5x) compared to the XE Aerospace & Defense industry average (1.7x).


Next Steps

Future Growth

How is Aerojet Rocketdyne Holdings forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

8.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GCY's forecast earnings growth (8.9% per year) is above the savings rate (0.2%).

Earnings vs Market: GCY's earnings (8.9% per year) are forecast to grow slower than the German market (21.6% per year).

High Growth Earnings: GCY's earnings are forecast to grow, but not significantly.

Revenue vs Market: GCY's revenue (4.1% per year) is forecast to grow slower than the German market (5.8% per year).

High Growth Revenue: GCY's revenue (4.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GCY's Return on Equity is forecast to be high in 3 years time (21.6%)


Next Steps

Past Performance

How has Aerojet Rocketdyne Holdings performed over the past 5 years?

46.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GCY has high quality earnings.

Growing Profit Margin: GCY's current net profit margins (6.7%) are lower than last year (8.4%).


Past Earnings Growth Analysis

Earnings Trend: GCY has become profitable over the past 5 years, growing earnings by 46.6% per year.

Accelerating Growth: GCY's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: GCY had negative earnings growth (-17.3%) over the past year, making it difficult to compare to the Aerospace & Defense industry average (14.3%).


Return on Equity

High ROE: GCY's Return on Equity (21.7%) is considered high.


Next Steps

Financial Health

How is Aerojet Rocketdyne Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: GCY's short term assets ($1.5B) exceed its short term liabilities ($882.1M).

Long Term Liabilities: GCY's short term assets ($1.5B) exceed its long term liabilities ($1.2B).


Debt to Equity History and Analysis

Debt Level: GCY's debt to equity ratio (92.9%) is considered high.

Reducing Debt: GCY had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: GCY's debt is well covered by operating cash flow (45.7%).

Interest Coverage: GCY's interest payments on its debt are well covered by EBIT (10x coverage).


Balance Sheet


Next Steps

Dividend

What is Aerojet Rocketdyne Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate GCY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate GCY's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if GCY's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if GCY's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of GCY's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average management tenure


CEO

Eileen Drake (52yo)

5yrs

Tenure

US$7,259,540

Compensation

Ms. Eileen P. Drake has been the Chief Executive Officer and President of Aerojet Rocketdyne Holdings, Inc. since June 01, 2015. Ms. Drake serves as the Chief Executive Officer and President at Aerojet Roc ...


CEO Compensation Analysis

Compensation vs Market: Eileen's total compensation ($USD7.26M) is above average for companies of similar size in the German market ($USD2.36M).

Compensation vs Earnings: Eileen's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Warren Lichtenstein
Executive Chairman7.25yrsUS$5.76m0.026% $779.3k
Eileen Drake
CEO, President & Director5yrsUS$7.26m0.51% $15.5m
Paul Lundstrom
VP & CFO3.58yrsUS$2.17m0.14% $4.3m
John Schumacher
Senior Vice President of Washington Operations & Communications3.83yrsUS$1.33m0.12% $3.6m
Mark Tucker
Executive Officer0.083yrUS$2.10m0.17% $5.3m
Amy Gowder
Chief Operating Officer0.083yrno datano data
Daniel Boehle
VP, Controller & Principal Accounting Officerno datano data0.032% $968.6k
Arjun Kampani
Senior VP4.17yrsUS$1.25m0.10% $3.1m
Andreas Wagner
Chief Human Resources Officer0.42yrno datano data
James Maser
Senior Vice President of Space Business Unit1.83yrsno datano data

2.7yrs

Average Tenure

49.5yo

Average Age

Experienced Management: GCY's management team is considered experienced (2.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Warren Lichtenstein
Executive Chairman7.25yrsUS$5.76m0.026% $779.3k
Eileen Drake
CEO, President & Director5yrsUS$7.26m0.51% $15.5m
James Henderson
Independent Director12.25yrsUS$263.02k0.062% $1.9m
Thomas Corcoran
Independent Director11.75yrsUS$242.30k0.14% $4.3m
Martin Turchin
Independent Director12.25yrsUS$253.53k0.13% $3.9m
Lance Lord
Independent Director5.33yrsUS$209.22k0.046% $1.4m
Kevin Chilton
Independent Director1.67yrsUS$232.05k0.017% $521.4k

7.3yrs

Average Tenure

64yo

Average Age

Experienced Board: GCY's board of directors are considered experienced (7.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: GCY insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Aerojet Rocketdyne Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Aerojet Rocketdyne Holdings, Inc.
  • Ticker: GCY
  • Exchange: DB
  • Founded: 1915
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Market Cap: US$3.375b
  • Listing Market Cap: US$3.033b
  • Shares outstanding: 77.33m
  • Website: https://www.aerojetrocketdyne.com

Number of Employees


Location

  • Aerojet Rocketdyne Holdings, Inc.
  • 222 North Pacific Coast Highway
  • Suite 500
  • El Segundo
  • California
  • 90245
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AJRDNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1968
GCYDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1968
0HA5LSE (London Stock Exchange)YesCommon StockGBUSDJan 1968

Biography

Aerojet Rocketdyne Holdings, Inc. designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates through two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors. This segment provides liquid and solid rocket propulsion systems, air-breathing hypersonic engines, and electric power and propulsion systems for space, defense, civil, and commercial applications; and armament systems. The Real Estate segment engages in the re-zoning, entitlement, sale, and leasing of the company’s excess real estate assets. It owns approximately 11,394 acres of land adjacent to the United States Highway 50 between Rancho Cordova and Folsom, California east of Sacramento. The company was formerly known as GenCorp Inc. and changed its name to Aerojet Rocketdyne Holdings, Inc. in April 2015. Aerojet Rocketdyne Holdings, Inc. was founded in 1915 and is headquartered in El Segundo, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/02 09:23
End of Day Share Price2020/05/29 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.