BlackSky Technology Inc.

NYSE:BKSY Stock Report

Market Cap: US$292.6m

BlackSky Technology Valuation

Is BKSY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BKSY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BKSY ($9.72) is trading below our estimate of fair value ($120.48)

Significantly Below Fair Value: BKSY is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for BKSY?

Key metric: As BKSY is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BKSY. This is calculated by dividing BKSY's market cap by their current revenue.
What is BKSY's PS Ratio?
PS Ratio2.8x
SalesUS$107.23m
Market CapUS$292.63m

Price to Sales Ratio vs Peers

How does BKSY's PS Ratio compare to its peers?

The above table shows the PS ratio for BKSY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.2x
SPIR Spire Global
3.3x9.8%US$354.8m
MG Mistras Group
0.4x2.2%US$282.8m
RGP Resources Connection
0.5x5.6%US$276.5m
FORR Forrester Research
0.7x0.8%US$313.8m
BKSY BlackSky Technology
2.8x19.5%US$292.6m

Price-To-Sales vs Peers: BKSY is expensive based on its Price-To-Sales Ratio (2.8x) compared to the peer average (1.2x).


Price to Sales Ratio vs Industry

How does BKSY's PS Ratio compare vs other companies in the US Professional Services Industry?

26 CompaniesPrice / SalesEstimated GrowthMarket Cap
MAN ManpowerGroup
0.2x2.1%US$2.83b
CNXC Concentrix
0.3x3.2%US$2.42b
TIXT TELUS International (Cda)
0.4x3.1%US$961.19m
CNDT Conduent
0.2x-2.0%US$569.21m
BKSY 2.8xIndustry Avg. 1.4xNo. of Companies26PS01.63.24.86.48+
26 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BKSY is expensive based on its Price-To-Sales Ratio (2.8x) compared to the US Professional Services industry average (1.4x).


Price to Sales Ratio vs Fair Ratio

What is BKSY's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BKSY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.8x
Fair PS Ratio2.4x

Price-To-Sales vs Fair Ratio: BKSY is expensive based on its Price-To-Sales Ratio (2.8x) compared to the estimated Fair Price-To-Sales Ratio (2.4x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BKSY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$9.72
US$12.86
+32.3%
25.8%US$18.00US$9.00n/a7
Nov ’25US$6.89
US$16.86
+144.7%
45.2%US$32.00US$10.00n/a7
Oct ’25US$4.51
US$18.50
+310.2%
39.7%US$32.00US$10.00n/a6
Sep ’25US$8.88
US$21.00
+136.5%
32.9%US$32.00US$10.00n/a6
Aug ’25US$8.16
US$22.00
+169.6%
27.3%US$32.00US$12.00n/a6
Jul ’25US$8.32
US$22.00
+164.4%
27.3%US$32.00US$12.00n/a6
Jun ’25US$8.72
US$22.00
+152.3%
27.3%US$32.00US$12.00n/a6
May ’25US$9.84
US$22.00
+123.6%
27.3%US$32.00US$12.00n/a6
Apr ’25US$10.80
US$22.40
+107.4%
29.0%US$32.00US$12.00n/a5
Mar ’25US$11.36
US$22.40
+97.2%
29.0%US$32.00US$12.00n/a5
Feb ’25US$10.24
US$22.33
+118.1%
26.6%US$32.00US$12.00n/a6
Jan ’25US$11.20
US$22.33
+99.4%
26.6%US$32.00US$12.00n/a6
Dec ’24US$10.64
US$22.00
+106.8%
29.3%US$32.00US$12.00n/a5
Nov ’24US$9.28
US$22.80
+145.7%
23.3%US$32.00US$16.00US$6.895
Oct ’24US$9.36
US$22.80
+143.6%
23.3%US$32.00US$16.00US$4.515
Sep ’24US$10.80
US$22.80
+111.1%
23.3%US$32.00US$16.00US$8.885
Aug ’24US$15.76
US$26.00
+65.0%
19.5%US$32.00US$20.00US$8.165
Jul ’24US$17.76
US$29.33
+65.2%
12.9%US$32.00US$24.00US$8.323
Jun ’24US$11.92
US$29.33
+146.1%
12.9%US$32.00US$24.00US$8.723
May ’24US$10.40
US$28.00
+169.2%
14.3%US$32.00US$24.00US$9.844
Apr ’24US$12.00
US$28.00
+133.3%
14.3%US$32.00US$24.00US$10.804
Mar ’24US$14.96
US$32.00
+113.9%
25.0%US$40.00US$24.00US$11.364
Feb ’24US$14.80
US$32.00
+116.2%
25.0%US$40.00US$24.00US$10.244
Jan ’24US$12.32
US$34.00
+176.0%
30.6%US$48.00US$24.00US$11.204
Dec ’23US$13.84
US$34.00
+145.7%
30.6%US$48.00US$24.00US$10.644
Nov ’23US$12.96
US$40.00
+208.6%
28.3%US$48.00US$24.00US$9.283

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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