What is Intuitive Machines Inc's earnings per share (EPS)?

Intuitive Machines Inc (LUNR) reported diluted earnings per share of $-0.73 for fiscal year 2025. This represents a 84.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Intuitive Machines Inc Financials

LUNR

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Intuitive Machines Inc (LUNR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LUNR FY2025 2026-05-15

External financing is building a liquidity buffer while working-capital swings and overhead expansion still dominate the business's cash economics.

Between FY2024 and FY2025, operating cash burn improved from -$57.6M to -$14.3M, a much better cash outcome than the income statement alone would suggest. Because accounts receivable dropped from $44.8M to $12.2M while the operating loss still deepened, that improvement appears tied to collections and working-capital release rather than healthier underlying profitability; ongoing reinvestment still kept free cash flow negative.

FY2025 ended with cash of $582.6M and a current ratio of 5.0x, so short-term obligations look far easier to cover than a year earlier. But the cushion was built with a financing inflow of $446.6M and new long-term debt of $335.3M, meaning liquidity improved because capital was raised, not because the business became self-funding.

The current expense base is expanding faster than activity: SG&A reached $92.6M while revenue slipped to $210.1M. That pulled operating margin down to -41.5% from -25.2%, which is the pattern of a business still carrying more overhead than its present revenue base can absorb efficiently.

Financial Health Signals

Financial Health Score 38/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Intuitive Machines Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Intuitive Machines Inc has an operating margin of -41.5%, meaning the company retains $-42 of operating profit per $100 of revenue. This below-average margin results in a low score of 23/100, suggesting thin profitability after operating expenses. This is down from -25.2% the prior year.

Growth

Intuitive Machines Inc's revenue declined 7.9% year-over-year, from $228.0M to $210.1M. This contraction results in a growth score of 96/100.

Liquidity

With a current ratio of 4.96, Intuitive Machines Inc holds $4.96 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 90/100.

Cash Flow

While Intuitive Machines Inc generated -$14.3M in operating cash flow, capex of $41.6M consumed most of it, leaving -$56.0M in free cash flow. This results in a low score of 10/100, reflecting heavy capital investment rather than weak cash generation.

Altman Z-Score Distress

0.42

Intuitive Machines Inc scores 0.42, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.7B) relative to total liabilities ($1.5B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/7

Intuitive Machines Inc passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.17x

For every $1 of reported earnings, Intuitive Machines Inc generates $0.17 in operating cash flow (-$14.3M OCF vs -$83.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-20.9x

Intuitive Machines Inc earns $-20.9 in operating income for every $1 of interest expense (-$87.2M vs $4.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$210.1M

YoY-7.9%

Intuitive Machines Inc generated $210.1M in revenue in fiscal year 2025. This represents a decrease of 7.9% from the prior year.

EBITDA

-$83.6M

YoY-50.6%

Intuitive Machines Inc's EBITDA was -$83.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 50.6% from the prior year.

Net Income

-$83.3M

YoY+70.6%

Intuitive Machines Inc reported -$83.3M in net income in fiscal year 2025. This represents an increase of 70.6% from the prior year.

EPS (Diluted)

$-0.73

YoY+84.2%

Intuitive Machines Inc earned $-0.73 per diluted share (EPS) in fiscal year 2025. This represents an increase of 84.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$56.0M

YoY+17.4%

Intuitive Machines Inc generated -$56.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 17.4% from the prior year.

Cash & Debt

$582.6M

YoY+180.6%

Intuitive Machines Inc held $582.6M in cash against $335.3M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

-41.5%

YoY-16.4pp

Intuitive Machines Inc's operating margin was -41.5% in fiscal year 2025, reflecting core business profitability. This is down 16.4 percentage points from the prior year.

Net Margin

-39.6%

YoY+84.7pp

Intuitive Machines Inc's net profit margin was -39.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 84.7 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

$20.7M

Intuitive Machines Inc spent $20.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$41.6M

YoY+311.8%

Intuitive Machines Inc invested $41.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 311.8% from the prior year.

LUNR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$210.1M-7.9%	$228.0M+186.6%	$79.6M-7.4%	$85.9M	N/A
Cost of Revenue	N/A	N/A	$100.5M+33.1%	$75.5M	N/A
Gross Profit	N/A	N/A	-$20.9M-300.5%	$10.4M	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$92.6M+73.9%	$53.3M+55.1%	$34.3M+117.7%	$15.8M	N/A
Operating Income	-$87.2M-52.0%	-$57.4M+6.1%	-$61.1M-809.6%	-$6.7M-1267.5%	-$491K
Interest Expense	$4.2M+4440.2%	$92K	N/A	N/A	N/A
Income Tax	$4.0M+10608.1%	$37K-7.5%	$40K+273.9%	-$23K	N/A
Net Income	-$83.3M+70.6%	-$283.4M-558.9%	$61.8M+32536.7%	-$190K+39.7%	-$316K
EPS (Diluted)	$-0.73+84.2%	$-4.63-291.3%	$2.42	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$186.7M+316.9%	$44.8M-14.6%	$52.4M+4.2%	$50.3M-19.5%	$62.5M+14.4%	$54.7M-6.5%	$58.5M+40.4%	$41.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$57.1M
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$15.5M
R&D Expenses	$5.6M	N/A	N/A	N/A	$911K	N/A	N/A	N/A
SG&A Expenses	$50.7M+23.3%	$41.1M+102.7%	$20.3M+26.3%	$16.0M+5.4%	$15.2M+12.4%	$13.5M+9.9%	$12.3M+11.7%	$11.0M
Operating Income	-$39.2M-18.4%	-$33.1M-114.6%	-$15.4M+46.2%	-$28.6M-184.2%	-$10.1M+24.8%	-$13.4M+2.4%	-$13.7M+50.1%	-$27.5M
Interest Expense	$4.9M	N/A	$1.3M	N/A	$26K	N/A	$13K	N/A
Income Tax	$2K-99.9%	$4.0M+79040.0%	$5K	$0	$0+100.0%	-$13K-126.0%	$50K	$0
Net Income	-$37.4M+6.2%	-$39.9M-482.8%	-$6.8M+72.8%	-$25.2M-121.0%	-$11.4M+92.4%	-$149.2M-169.3%	-$55.4M-396.7%	$18.7M
EPS (Diluted)	$-0.25	N/A	$-0.06+72.7%	$-0.22-100.0%	$-0.11	N/A	$-0.83-376.7%	$0.30

LUNR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$757.2M+113.0%	$355.4M+313.7%	$85.9M+28.2%	$67.0M-79.8%	$330.9M
Current Assets	$618.8M+111.1%	$293.2M+827.4%	$31.6M-22.9%	$41.0M+4808.4%	$835K
Cash & Equivalents	$582.6M+180.6%	$207.6M+4515.5%	$4.5M-82.5%	$25.8M+7064.4%	$360K
Inventory	$0	N/A	N/A	N/A	N/A
Accounts Receivable	$12.2M-72.8%	$44.8M+165.1%	$16.9M+1196.5%	$1.3M	N/A
Goodwill	$18.7M	$0	N/A	N/A	N/A
Total Liabilities	$1.5B+10.8%	$1.4B+292.9%	$347.3M+194.6%	$117.9M-69.2%	$382.8M
Current Liabilities	$124.8M+26.3%	$98.8M+21.2%	$81.5M-5.3%	$86.1M+39119.8%	$219K
Long-Term Debt	$335.3M	$0	$0-100.0%	$3.9M	N/A
Total Equity	-$755.0M+25.2%	-$1.0B-286.0%	-$261.4M-413.7%	-$50.9M+1.8%	-$51.8M
Retained Earnings	-$721.5M+27.6%	-$996.5M-300.8%	-$248.6M-277.5%	-$65.9M-20773.8%	-$316K

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$1.7B+126.9%	$757.2M+0.5%	$753.5M+58.4%	$475.6M-4.9%	$500.0M+40.7%	$355.4M+58.1%	$224.8M+60.4%	$140.1M
Current Assets	$505.3M-18.3%	$618.8M-7.1%	$666.0M+67.9%	$396.8M-8.0%	$431.3M+47.1%	$293.2M+74.2%	$168.3M+102.5%	$83.1M
Cash & Equivalents	$231.6M-60.2%	$582.6M-6.3%	$622.0M+80.3%	$344.9M-7.6%	$373.3M+79.8%	$207.6M+131.7%	$89.6M+183.3%	$31.6M
Inventory	$57.9M	$0	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$12.2M-47.7%	$23.3M-36.2%	$36.6M+24.6%	$29.3M-34.4%	$44.8M-12.8%	$51.3M+34.1%	$38.3M
Goodwill	$379.8M+1931.6%	$18.7M	N/A	N/A	N/A	$0	N/A	N/A
Total Liabilities	$2.1B+35.7%	$1.5B+30.6%	$1.2B+35.1%	$856.8M+34.5%	$636.9M-53.3%	$1.4B+89.1%	$721.6M+92.4%	$375.1M
Current Liabilities	$415.5M+232.8%	$124.8M+17.7%	$106.0M-1.2%	$107.3M+9.3%	$98.1M-0.7%	$98.8M+3.7%	$95.3M+12.1%	$85.0M
Long-Term Debt	$335.8M+0.2%	$335.3M+0.2%	$334.8M	N/A	N/A	$0	$0	$0
Total Equity	-$334.3M+55.7%	-$755.0M-86.8%	-$404.2M-6.0%	-$381.2M-178.4%	-$136.9M+86.4%	-$1.0B-103.1%	-$496.8M-111.4%	-$235.0M
Retained Earnings	-$300.8M+58.3%	-$721.5M-94.6%	-$370.7M-6.6%	-$347.7M-236.2%	-$103.4M+89.6%	-$996.5M-105.9%	-$484.0M-117.8%	-$222.2M

LUNR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$14.3M+75.1%	-$57.6M-27.2%	-$45.3M-5875.4%	$784K+165.1%	-$1.2M
Capital Expenditures	$41.6M+311.8%	$10.1M-66.2%	$29.9M+82.3%	$16.4M	N/A
Free Cash Flow	-$56.0M+17.4%	-$67.7M+10.0%	-$75.2M-381.3%	-$15.6M	N/A
Investing Cash Flow	-$56.6M-459.6%	-$10.1M+66.2%	-$29.9M-82.3%	-$16.4M+95.0%	-$329.8M
Financing Cash Flow	$446.6M+63.7%	$272.8M+405.9%	$53.9M+345.8%	$12.1M-96.3%	$331.3M
Dividends Paid	N/A	$0-100.0%	$8.0M	$0	N/A
Share Buybacks	$20.7M	$0	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$54.8M-650.8%	-$7.3M-1.6%	-$7.2M+62.7%	-$19.3M-199.2%	$19.4M+1088.2%	-$2.0M+89.0%	-$17.9M+42.7%	-$31.3M
Capital Expenditures	$9.9M-36.9%	$15.6M+32.5%	$11.8M+46.6%	$8.1M+31.6%	$6.1M+24.3%	$4.9M+253.9%	$1.4M-36.9%	$2.2M
Free Cash Flow	-$64.6M-181.8%	-$22.9M-20.8%	-$19.0M+30.5%	-$27.3M-305.4%	$13.3M+293.0%	-$6.9M+64.3%	-$19.3M+42.3%	-$33.5M
Investing Cash Flow	-$454.7M-1386.1%	-$30.6M-159.0%	-$11.8M-46.6%	-$8.1M-31.6%	-$6.1M-24.3%	-$4.9M-253.9%	-$1.4M+36.9%	-$2.2M
Financing Cash Flow	$167.4M+21296.1%	-$790K-100.3%	$296.1M+28705.2%	-$1.0M-100.7%	$152.3M+22.0%	$124.9M+61.6%	$77.3M+684.3%	$9.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$0	$0	N/A
Share Buybacks	$0	$0	$0	$0-100.0%	$20.7M	$0	$0	$0

LUNR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	-26.3%-38.4pp	12.1%	N/A
Operating Margin	-41.5%-16.4pp	-25.2%+51.7pp	-76.8%-69.0pp	-7.8%	N/A
Net Margin	-39.6%+84.7pp	-124.3%-201.9pp	77.6%+77.9pp	-0.2%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	-11.0%+68.7pp	-79.7%-151.6pp	71.9%+72.2pp	-0.3%-0.2pp	-0.1%
Current Ratio	4.96+2.0	2.97+2.6	0.39-0.1	0.48-3.3	3.81
Debt-to-Equity	-0.44-0.4	0.000.0	0.00+0.1	-0.08+7.3	-7.38
FCF Margin	-26.6%+3.0pp	-29.7%+64.8pp	-94.5%-76.3pp	-18.2%	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-37.1%
Operating Margin	-21.0%+52.9pp	-73.9%-44.5pp	-29.4%+27.5pp	-56.9%-40.8pp	-16.1%+8.4pp	-24.5%-1.0pp	-23.5%+42.6pp	-66.0%
Net Margin	-20.0%+69.0pp	-89.0%-76.0pp	-13.1%+37.0pp	-50.0%-31.8pp	-18.2%+254.7pp	-272.9%-178.2pp	-94.7%-139.6pp	44.8%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-2.2%+3.1pp	-5.3%-4.4pp	-0.9%+4.4pp	-5.3%-3.0pp	-2.3%+39.7pp	-42.0%-17.3pp	-24.6%-38.0pp	13.3%
Current Ratio	1.22-3.7	4.96-1.3	6.28+2.6	3.70-0.7	4.39+1.4	2.97+1.2	1.77+0.8	0.98
Debt-to-Equity	-1.00-0.6	-0.44+0.4	-0.83+1.4	-2.25+2.4	-4.65-4.7	0.000.0	0.000.0	0.00
FCF Margin	-34.6%+16.6pp	-51.2%-15.0pp	-36.2%+18.1pp	-54.3%-75.6pp	21.3%+33.9pp	-12.6%+20.4pp	-33.0%+47.3pp	-80.4%

Note: Shareholder equity is negative (-$755.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

What is Intuitive Machines Inc's annual revenue?

Intuitive Machines Inc (LUNR) reported $210.1M in total revenue for fiscal year 2025. This represents a -7.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Intuitive Machines Inc's revenue growing?

Intuitive Machines Inc (LUNR) revenue declined by 7.9% year-over-year, from $228.0M to $210.1M in fiscal year 2025.

Is Intuitive Machines Inc profitable?

No, Intuitive Machines Inc (LUNR) reported a net income of -$83.3M in fiscal year 2025, with a net profit margin of -39.6%.

What is Intuitive Machines Inc's EBITDA?

Intuitive Machines Inc (LUNR) had EBITDA of -$83.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Intuitive Machines Inc have?

As of fiscal year 2025, Intuitive Machines Inc (LUNR) had $582.6M in cash and equivalents against $335.3M in long-term debt.

What is Intuitive Machines Inc's operating margin?

Intuitive Machines Inc (LUNR) had an operating margin of -41.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Intuitive Machines Inc's net profit margin?

Intuitive Machines Inc (LUNR) had a net profit margin of -39.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Intuitive Machines Inc's free cash flow?

Intuitive Machines Inc (LUNR) generated -$56.0M in free cash flow during fiscal year 2025. This represents a 17.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Intuitive Machines Inc's operating cash flow?

Intuitive Machines Inc (LUNR) generated -$14.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Intuitive Machines Inc's total assets?

Intuitive Machines Inc (LUNR) had $757.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Intuitive Machines Inc's capital expenditures?

Intuitive Machines Inc (LUNR) invested $41.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Intuitive Machines Inc buy back shares?

Yes, Intuitive Machines Inc (LUNR) spent $20.7M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Intuitive Machines Inc's current ratio?

Intuitive Machines Inc (LUNR) had a current ratio of 4.96 as of fiscal year 2025, which is generally considered healthy.

What is Intuitive Machines Inc's debt-to-equity ratio?

Intuitive Machines Inc (LUNR) had a debt-to-equity ratio of -0.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Intuitive Machines Inc's return on assets (ROA)?

Intuitive Machines Inc (LUNR) had a return on assets of -11.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Intuitive Machines Inc's cash runway?

Based on fiscal year 2025 data, Intuitive Machines Inc (LUNR) had $582.6M in cash against an annual operating cash burn of $14.3M. This gives an estimated cash runway of approximately 488 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Why is Intuitive Machines Inc's debt-to-equity ratio negative or unusual?

Intuitive Machines Inc (LUNR) has negative shareholder equity of -$755.0M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Intuitive Machines Inc's Altman Z-Score?

Intuitive Machines Inc (LUNR) has an Altman Z-Score of 0.42, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Intuitive Machines Inc's Piotroski F-Score?

Intuitive Machines Inc (LUNR) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Intuitive Machines Inc's earnings high quality?

Intuitive Machines Inc (LUNR) has an earnings quality ratio of 0.17x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Intuitive Machines Inc cover its interest payments?

Intuitive Machines Inc (LUNR) has an interest coverage ratio of -20.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Intuitive Machines Inc?

Intuitive Machines Inc (LUNR) scores 38 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.