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Aerojet Rocketdyne Holdings

DB:GCY
Snowflake Description

Adequate balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GCY
DB
$3B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Aerojet Rocketdyne Holdings, Inc. designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The last earnings update was 23 days ago. More info.


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GCY Share Price and Events
7 Day Returns
4.3%
DB:GCY
0.2%
Europe Aerospace & Defense
-0%
DE Market
1 Year Returns
39.6%
DB:GCY
4.6%
Europe Aerospace & Defense
-11.5%
DE Market
GCY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Aerojet Rocketdyne Holdings (GCY) 4.3% 18.1% 1% 39.6% 120.8% 151.1%
Europe Aerospace & Defense 0.2% -2.4% 1.8% 4.6% 60.2% 83.9%
DE Market -0% -3.3% 2.1% -11.5% 8.9% 8.1%
1 Year Return vs Industry and Market
  • GCY outperformed the Aerospace & Defense industry which returned 4.6% over the past year.
  • GCY outperformed the Market in Germany which returned -11.5% over the past year.
Price Volatility
GCY
Industry
5yr Volatility vs Market

Value

 Is Aerojet Rocketdyne Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Aerojet Rocketdyne Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Aerojet Rocketdyne Holdings.

DB:GCY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:GCY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.912 (1 + (1- 21%) (23.87%))
1.056
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.056 * 5.96%)
6.52%

Discounted Cash Flow Calculation for DB:GCY using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Aerojet Rocketdyne Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:GCY DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.52%)
2019 175.20 Analyst x3 164.47
2020 177.00 Analyst x3 155.99
2021 198.00 Analyst x1 163.81
2022 179.75 Est @ -9.22% 139.61
2023 168.27 Est @ -6.38% 122.69
2024 160.86 Est @ -4.4% 110.11
2025 156.02 Est @ -3.01% 100.25
2026 152.84 Est @ -2.04% 92.20
2027 150.76 Est @ -1.36% 85.37
2028 149.43 Est @ -0.88% 79.44
Present value of next 10 years cash flows $1,213.95
DB:GCY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $149.43 × (1 + 0.23%) ÷ (6.52% – 0.23%)
$2,379.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,379.56 ÷ (1 + 6.52%)10
$1,265.05
DB:GCY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,213.95 + $1,265.05
$2,479.00
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,479.00 / 77.45
$32.01
DB:GCY Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:GCY represents 0.90045x of NYSE:AJRD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90045x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 32.01 x 0.90045
€28.82
Value per share (EUR) From above. €28.82
Current discount Discount to share price of €34.19
= -1 x (€34.19 - €28.82) / €28.82
-18.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Aerojet Rocketdyne Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Aerojet Rocketdyne Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Aerojet Rocketdyne Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:GCY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.10
NYSE:AJRD Share Price ** NYSE (2019-05-22) in USD $37.97
Europe Aerospace & Defense Industry PE Ratio Median Figure of 30 Publicly-Listed Aerospace & Defense Companies 22.05x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 20.26x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Aerojet Rocketdyne Holdings.

DB:GCY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AJRD Share Price ÷ EPS (both in USD)

= 37.97 ÷ 2.10

18.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aerojet Rocketdyne Holdings is good value based on earnings compared to the Europe Aerospace & Defense industry average.
  • Aerojet Rocketdyne Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Aerojet Rocketdyne Holdings's expected growth come at a high price?
Raw Data
DB:GCY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-4.7%per year
Europe Aerospace & Defense Industry PEG Ratio Median Figure of 28 Publicly-Listed Aerospace & Defense Companies 1.6x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

DB:GCY PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.1x ÷ -4.7%

-3.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aerojet Rocketdyne Holdings earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Aerojet Rocketdyne Holdings's assets?
Raw Data
DB:GCY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $6.05
NYSE:AJRD Share Price * NYSE (2019-05-22) in USD $37.97
Europe Aerospace & Defense Industry PB Ratio Median Figure of 42 Publicly-Listed Aerospace & Defense Companies 1.86x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.78x
DB:GCY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AJRD Share Price ÷ Book Value per Share (both in USD)

= 37.97 ÷ 6.05

6.28x

* Primary Listing of Aerojet Rocketdyne Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aerojet Rocketdyne Holdings is overvalued based on assets compared to the Europe Aerospace & Defense industry average.
X
Value checks
We assess Aerojet Rocketdyne Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Aerojet Rocketdyne Holdings has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Aerojet Rocketdyne Holdings expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-4.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Aerojet Rocketdyne Holdings expected to grow at an attractive rate?
  • Aerojet Rocketdyne Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Aerojet Rocketdyne Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Aerojet Rocketdyne Holdings's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:GCY Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:GCY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -4.7%
DB:GCY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 4.7%
Europe Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 15.4%
Europe Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:GCY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:GCY Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,139 246 1
2020-12-31 2,055 220 141 4
2019-12-31 1,951 199 136 4
DB:GCY Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,896 330 159
2018-12-31 1,896 253 134
2018-09-30 1,986 284 60
2018-06-30 1,972 200 9
2018-03-31 1,964 121 -1
2017-12-31 1,877 213 -9
2017-09-30 1,881 135 60
2017-06-30 1,861 192 36
2017-03-31 1,810 187 18
2016-12-31 1,761 159 18

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Aerojet Rocketdyne Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Aerojet Rocketdyne Holdings's revenue is expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:GCY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Aerojet Rocketdyne Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GCY Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.15 2.15 2.15 1.00
2020-12-31 1.90 2.00 1.80 2.00
2019-12-31 1.75 1.80 1.70 2.00
DB:GCY Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.10
2018-12-31 1.80
2018-09-30 0.81
2018-06-30 0.12
2018-03-31 -0.02
2017-12-31 -0.13
2017-09-30 0.83
2017-06-30 0.52
2017-03-31 0.27
2016-12-31 0.27

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Aerojet Rocketdyne Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Aerojet Rocketdyne Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Aerojet Rocketdyne Holdings has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Aerojet Rocketdyne Holdings's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Aerojet Rocketdyne Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Aerojet Rocketdyne Holdings has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Aerojet Rocketdyne Holdings has become profitable in the last year making it difficult to compare the Europe Aerospace & Defense industry average.
Earnings and Revenue History
Aerojet Rocketdyne Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Aerojet Rocketdyne Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GCY Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,895.60 158.70 99.00
2018-12-31 1,895.90 134.40 101.40
2018-09-30 1,986.20 60.30 45.40
2018-06-30 1,971.50 9.10 53.80
2018-03-31 1,963.90 -1.30 109.50
2017-12-31 1,877.20 -9.20 120.20
2017-09-30 1,881.20 59.60 113.20
2017-06-30 1,860.90 36.30 88.20
2017-03-31 1,809.70 18.40 73.80
2016-12-31 1,761.30 17.60 103.60
2015-12-31 1,155.60 81.60 33.60
2015-11-30 1,708.30 -16.20 49.00 32.10
2015-08-31 1,666.20 -11.50 50.80 10.50
2015-05-31 1,646.40 16.50 49.00 2.20
2015-02-28 1,593.10 -50.50 44.60
2014-11-30 1,602.20 -49.30 38.20
2014-08-31 1,643.10 -66.50 41.80
2014-05-31 1,589.40 137.90 46.20
2014-02-28 1,471.50 176.30 50.50
2013-11-30 1,378.10 159.60 53.60
2013-08-31 1,196.00 167.80 49.90
2013-05-31 1,073.40 -35.20 46.20
2013-02-28 1,036.70 -22.20 43.90
2012-11-30 994.90 -5.70 41.90
2012-08-31 948.90 -5.80 42.80
2012-05-31 930.20 4.20 41.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Aerojet Rocketdyne Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Aerojet Rocketdyne Holdings used its assets more efficiently than the Europe Aerospace & Defense industry average last year based on Return on Assets.
  • Aerojet Rocketdyne Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Aerojet Rocketdyne Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Aerojet Rocketdyne Holdings has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Aerojet Rocketdyne Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Aerojet Rocketdyne Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Aerojet Rocketdyne Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Aerojet Rocketdyne Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Aerojet Rocketdyne Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Aerojet Rocketdyne Holdings Company Filings, last reported 1 month ago.

DB:GCY Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 466.20 701.90 706.60
2018-12-31 421.30 625.40 735.30
2018-09-30 396.40 627.50 611.60
2018-06-30 220.10 611.40 559.60
2018-03-31 169.20 614.00 452.80
2017-12-31 102.40 616.40 555.00
2017-09-30 151.30 618.60 392.50
2017-06-30 124.70 621.70 413.60
2017-03-31 88.80 624.80 382.10
2016-12-31 34.50 663.60 410.30
2015-12-31 -142.20 639.00 208.50
2015-11-30 -146.40 652.00 211.10
2015-08-31 -107.30 661.20 243.30
2015-05-31 -95.70 717.90 253.50
2015-02-28 -126.50 738.50 215.70
2014-11-30 -175.50 782.20 265.90
2014-08-31 -48.70 783.50 154.90
2014-05-31 -49.10 783.00 120.70
2014-02-28 47.70 694.10 144.10
2013-11-30 49.60 699.20 197.60
2013-08-31 -144.60 705.10 181.90
2013-05-31 -369.60 707.40 134.60
2013-02-28 -382.10 708.10 140.70
2012-11-30 -392.70 248.70 162.10
2012-08-31 -168.40 249.40 155.70
2012-05-31 -175.50 250.00 150.20
  • Aerojet Rocketdyne Holdings's level of debt (150.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (5167.5% vs 150.6% today).
  • Debt is well covered by operating cash flow (47.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.9x coverage).
X
Financial health checks
We assess Aerojet Rocketdyne Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Aerojet Rocketdyne Holdings has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Aerojet Rocketdyne Holdings dividends.
If you bought €2,000 of Aerojet Rocketdyne Holdings shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Aerojet Rocketdyne Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Aerojet Rocketdyne Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:GCY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 27 Stocks 1.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:GCY Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Aerojet Rocketdyne Holdings has not reported any payouts.
  • Unable to verify if Aerojet Rocketdyne Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Aerojet Rocketdyne Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Aerojet Rocketdyne Holdings has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Aerojet Rocketdyne Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Aerojet Rocketdyne Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Aerojet Rocketdyne Holdings has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Aerojet Rocketdyne Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Eileen Drake
COMPENSATION $5,534,650
AGE 51
TENURE AS CEO 3.9 years
CEO Bio

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 Rocketdyne, Inc., a subsidiary of Aerojet Rocketdyne Holdings, Inc. She served as the Chief Operating Officer of Aerojet Rocketdyne Holdings, Inc. from March 02, 2015 to June 2015. She served as Vice President of Quality and Achieving Competitive Excellence (ACE) at Pratt & Whitney Company, Inc. since November 2006 and also served as its Vice President of Aeropower, Vice President of Quality & Environment, Vice President of Health & Safety and General Manager of Aeropower. She served as Vice President and General Manager of Auxiliary Power Systems at Hamilton Sundstrand Power Systems (Also known as UTC Aerospace Systems). She was previously with United Technologies Corporation (UTC) from November 2003 through February 2015, where she served as president of Pratt & Whitney AeroPower’s auxiliary power unit and small turbojet propulsion business from January 2012 to January 2015. She served as Vice President of Operations at United Technologies Corporation (UTC) since May 2009 and was responsible for providing strategic leadership to UTC’s manufacturing and quality disciplines and led the core supply management functions including logistics, procurement and supplier development. She joined UTC in 2003. She served at both the Ford Motor Company between 1996 and 2003 and Visteon Corporation and served positions to include Ford’s Product Line Manager for steering systems and Plant Manager of Visteon’s fuel system operation. She has been a Director of Aerojet Rocketdyne Holdings Inc. since June 1, 2015 and Woodward, Inc. since February 16, 2017. Ms. Drake is an accomplished, dynamic leader with extensive experience in profit and loss management, operations, quality and supply chain. She has extensive experience in the Aerospace industry. She serves as an Executive Committee Member on the Board of Directors for the Experimental Aircraft Association (EAA) and for the United Way of San Diego. She holds her commercial and private pilot’s license in both fixed-wing and rotary-wing aircraft. She served on active duty for seven years as a US Army Aviator and Airfield Commander of Davidson Army Airfield in Virginia. Ms. Drake is a distinguished Military Graduate of the U.S. Army Aviation Officer School. She received her M.B.A. from Butler University and her B.A. in Political Science from the College of New Rochelle.

CEO Compensation
  • Eileen's compensation has increased in line with Aerojet Rocketdyne Holdings recently becoming profitable.
  • Eileen's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Aerojet Rocketdyne Holdings management team in years:

3.1
Average Tenure
53
Average Age
  • The tenure for the Aerojet Rocketdyne Holdings management team is about average.
Management Team

Eileen Drake

TITLE
CEO, President & Director
COMPENSATION
$6M
AGE
51
TENURE
3.9 yrs

Paul Lundstrom

TITLE
VP & CFO
COMPENSATION
$2M
AGE
43
TENURE
2.5 yrs

Mark Tucker

TITLE
Chief Operating Officer
COMPENSATION
$2M
AGE
59
TENURE
3.9 yrs

Arjun Kampani

TITLE
VP, General Counsel & Secretary
COMPENSATION
$1M
AGE
46
TENURE
3.1 yrs

John Schumacher

TITLE
Senior Vice President of Washington Operations
COMPENSATION
$1M
AGE
63
TENURE
2.8 yrs

Warren Lichtenstein

TITLE
Executive Chairman
AGE
53

Daniel Boehle

TITLE
VP, Controller & Principal Accounting Officer
AGE
46

Steve Warren

TITLE
Chief Communications Officer

Greg Jones

TITLE
Senior Vice President of Strategy & Business Development
AGE
56
TENURE
1.3 yrs

Dick Bregard

TITLE
Deputy to the President of Aerojet
COMPENSATION
$605K
AGE
75
TENURE
8.9 yrs
Board of Directors Tenure

Average tenure and age of the Aerojet Rocketdyne Holdings board of directors in years:

6.2
Average Tenure
63
Average Age
  • The tenure for the Aerojet Rocketdyne Holdings board of directors is about average.
Board of Directors

Eileen Drake

TITLE
CEO, President & Director
COMPENSATION
$6M
AGE
51
TENURE
4.3 yrs

Warren Lichtenstein

TITLE
Executive Chairman
AGE
53
TENURE
6.2 yrs

Jim Henderson

TITLE
Director
COMPENSATION
$276K
AGE
60
TENURE
11.2 yrs

Martin Turchin

TITLE
Director
COMPENSATION
$254K
AGE
76
TENURE
11.2 yrs

Tom Corcoran

TITLE
Director
COMPENSATION
$237K
AGE
74
TENURE
10.7 yrs

Lance Lord

TITLE
Director
COMPENSATION
$209K
AGE
71
TENURE
4.3 yrs

Chili Chilton

TITLE
Director
COMPENSATION
$91K
AGE
63
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • Aerojet Rocketdyne Holdings insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
27. Mar 19 Sell Eileen Drake Individual 26. Mar 19 26. Mar 19 -29,592 €30.49 €-902,339
13. Nov 18 Sell Martin Turchin Individual 12. Nov 18 12. Nov 18 -5,000 €33.59 €-167,929
01. Nov 18 Buy Gabelli & Company Investment Advisers, Inc. Company 17. Sep 18 17. Sep 18 1,000 €29.52 €29,521
01. Nov 18 Sell GAMCO Investors, Inc. Company 04. Sep 18 31. Oct 18 -147,032 €31.60 €-89,331
01. Nov 18 Buy GAMCO Investors, Inc. Company 04. Sep 18 30. Oct 18 90,769 €31.35 €302,668
17. Aug 18 Sell Martin Turchin Individual 16. Aug 18 16. Aug 18 -5,000 €31.97 €-159,873
06. Aug 18 Sell James Perry Individual 02. Aug 18 02. Aug 18 -25,225 €29.56 €-745,604
X
Management checks
We assess Aerojet Rocketdyne Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Aerojet Rocketdyne Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

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 propulsion systems, such as liquid, solid, air-breathing, and electric 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 11,451 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.

Details
Name: Aerojet Rocketdyne Holdings, Inc.
GCY
Exchange: DB
Founded: 1915
$2,637,129,763
77,453,979
Website: http://www.aerojetrocketdyne.com
Address: Aerojet Rocketdyne Holdings, Inc.
222 North Pacific Coast Highway,
Suite 500,
El Segundo,
California, 90245,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AJRD Common Stock New York Stock Exchange US USD 02. Jan 1968
DB GCY Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
LSE 0HA5 Common Stock London Stock Exchange GB USD 02. Jan 1968
Number of employees
Current staff
Staff numbers
5,004
Aerojet Rocketdyne Holdings employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 00:06
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.