Redwire Corporation Financials
Redwire Corporation (RDW) reported $335.4M in revenue for fiscal year 2025, up 10.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
FY2025 looks like an externally financed balance-sheet expansion, with cash burn and margin compression overwhelming continued revenue growth.
After nearly reaching cash breakeven in FY2023, free cash flow fell from-$4.4M to-$190.8M by FY2025 even as revenue kept rising. That reversal, alongside much larger assets, a goodwill-heavy balance sheet, and a share count that nearly tripled, says the company became far bigger on paper without becoming more self-funding in cash.
The gross-margin drop from
Liquidity improved on the surface: cash ended FY2025 at
Financial Health Signals
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 Redwire Corporation'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.
Redwire Corporation has an operating margin of -68.5%, meaning the company loses $68 on every $100 of revenue. This results in a profitability score of 22/100. This is down from -13.9% the prior year.
Redwire Corporation's revenue grew 10.3% year-over-year to $335.4M, a solid pace of expansion. This earns a growth score of 79/100.
Redwire Corporation carries a low D/E ratio of 0.08, meaning only $0.08 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.
Redwire Corporation's current ratio of 1.62 indicates adequate short-term liquidity, earning a score of 46/100. The company can meet its near-term obligations, though with limited headroom.
Redwire Corporation's operations used $177.3M of cash, and capex of $13.5M added to the outflow, for a free cash flow shortfall of $190.8M. This results in a cash flow score of 11/100.
Redwire Corporation posts a -21.4% return on equity (ROE), meaning it loses $21 for every $100 of shareholders' equity. This results in a returns score of 23/100.
Redwire Corporation scores 4.97, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.0B) relative to total liabilities ($312.1M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Redwire Corporation passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Redwire Corporation reported a net loss of $226.6M while operations used $177.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Redwire Corporation reported an operating loss of $229.7M against $39.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Redwire Corporation generated $335.4M in revenue in fiscal year 2025. This represents an increase of 10.3% from the prior year.
Redwire Corporation's EBITDA was -$197.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 545.9% from the prior year.
Redwire Corporation reported -$226.6M in net income in fiscal year 2025. This represents a decrease of 98.2% from the prior year.
Cash & Balance Sheet
Redwire Corporation recorded an outflow of $190.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 703.5% from the prior year.
Redwire Corporation held $94.5M in cash against $80.0M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Redwire Corporation's gross margin was 5.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 9.5 percentage points from the prior year.
Redwire Corporation's operating margin was -68.5% in fiscal year 2025, reflecting core business profitability. This is down 54.6 percentage points from the prior year.
Redwire Corporation's net profit margin was -67.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 30.0 percentage points from the prior year.
Redwire Corporation's ROE was -21.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Redwire Corporation invested $19.8M in research and development in fiscal year 2025. This represents an increase of 222.5% from the prior year.
Redwire Corporation invested $13.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 110.6% from the prior year.
Not reported for fiscal year 2025.
RDW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Revenue | $426.3M | $335.4M+10.3% | $304.1M+24.7% | $243.8M+51.9% | $160.5M+16.7% | $137.6M+237.4% | $40.8M |
| Cost of Revenue | $340.6M | $318.1M+22.5% | $259.6M+39.7% | $185.8M+40.9% | $131.9M+21.8% | $108.2M+231.2% | $32.7M |
| Gross Profit | $85.7M | $17.3M-61.1% | $44.5M-23.3% | $58.0M+102.0% | $28.7M-2.3% | $29.4M+262.3% | $8.1M |
| R&D Expenses | $42.4M | $19.8M+222.5% | $6.1M+23.1% | $5.0M+0.8% | $4.9M+9.4% | $4.5M+124.9% | $2.0M |
| SG&A Expenses | $223.0M | $171.3M+139.9% | $71.4M+4.2% | $68.5M-2.6% | $70.3M-10.6% | $78.7M+500.6% | $13.1M |
| Operating Income | -$215.3M | -$229.7M-444.3% | -$42.2M-171.4% | -$15.5M+89.4% | -$146.4M-108.7% | -$70.2M-314.2% | -$16.9M |
| Interest Expense | N/A | $39.8M+194.9% | $13.5M+26.0% | $10.7M+30.2% | $8.2M+27.3% | $6.5M+635.5% | $878K |
| Income Tax | $10.3M | -$25.0M-1138.3% | -$2.0M-315.6% | -$486K+93.9% | -$8.0M+29.3% | -$11.3M-208.0% | -$3.7M |
| Net Income | -$244.1M | -$226.6M-98.2% | -$114.3M-319.3% | -$27.3M+79.1% | -$130.6M-112.3% | -$61.5M-328.1% | -$14.4M |
| EPS (Diluted) | — | -$2.28 | -$2.35-221.9% | -$0.73 | -$2.09-53.7% | -$1.36-248.7% | -$0.39 |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RDW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $1.4B+395.2% | $292.6M+7.9% | $271.3M+5.3% | $257.7M-1.6% | $261.8M+67.0% | $156.8M |
| Current Assets | $252.8M+100.8% | $125.9M+15.2% | $109.3M+13.7% | $96.2M+74.2% | $55.2M+40.5% | $39.3M |
| Cash & Equivalents | $94.5M+180.2% | $33.7M+11.3% | $30.3M+6.9% | $28.3M+38.0% | $20.5M-7.0% | $22.1M |
| Inventory | $55.8M+2394.3% | $2.2M+47.7% | $1.5M+3.2% | $1.5M+113.5% | $688K+108.5% | $330K |
| Accounts Receivable | $37.3M+70.1% | $21.9M-32.4% | $32.4M+21.3% | $26.7M+64.3% | $16.3M+168.5% | $6.1M |
| Goodwill | $779.1M+994.9% | $71.2M+8.2% | $65.8M+1.8% | $64.6M-32.9% | $96.3M+82.7% | $52.7M |
| Total Liabilities | $312.1M-35.2% | $481.3M+52.9% | $314.8M+19.1% | $264.4M+71.1% | $154.5M+31.4% | $117.6M |
| Current Liabilities | $155.6M+4.2% | $149.3M+33.3% | $112.0M+18.3% | $94.7M+84.9% | $51.2M+52.7% | $33.6M |
| Long-Term Debt | $80.0M-35.7% | $124.5M+43.3% | $86.8M+16.2% | $74.7M-0.2% | $74.9M-2.3% | $76.6M |
| Total Equity | $1.1B+661.7% | -$188.7M-333.7% | -$43.5M-549.3% | -$6.7M-106.2% | $107.2M+173.6% | $39.2M |
| Retained Earnings | -$621.8M-78.6% | -$348.1M-48.9% | -$233.8M-13.2% | -$206.5M-172.1% | -$75.9M-428.1% | -$14.4M |
RDW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$76.2M | -$177.3M-922.2% | -$17.3M-1509.3% | $1.2M+103.9% | -$31.7M+15.3% | -$37.4M-138.7% | -$15.7M |
| Capital Expenditures | $22.0M | $13.5M+110.6% | $6.4M+13.9% | $5.6M+55.0% | $3.6M+73.2% | $2.1M+128.4% | $917K |
| Free Cash Flow | -$98.2M | -$190.8M-703.5% | -$23.7M-441.1% | -$4.4M+87.6% | -$35.3M+10.6% | -$39.5M-138.1% | -$16.6M |
| Investing Cash Flow | -$29.8M | -$175.1M-2331.9% | -$7.2M+13.5% | -$8.3M+77.7% | -$37.4M+3.0% | -$38.5M+54.8% | -$85.3M |
| Financing Cash Flow | $585.5M | $397.5M+809.3% | $43.7M+382.5% | $9.1M-88.2% | $76.6M+3.2% | $74.2M-39.5% | $122.7M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RDW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Gross Margin | 5.1%-9.5pp | 14.6%-9.2pp | 23.8%+5.9pp | 17.9%-3.5pp | 21.3%+1.5pp | 19.9% |
| Operating Margin | -68.5%-54.6pp | -13.9%-7.5pp | -6.4%+84.8pp | -91.2%-40.2pp | -51.0%-9.5pp | -41.5% |
| Net Margin | -67.5%-30.0pp | -37.6%-26.4pp | -11.2%+70.2pp | -81.4%-36.6pp | -44.7%-9.5pp | -35.2% |
| Return on Equity | -21.4% | N/A | N/A | N/A | -57.4%-20.7pp | -36.7% |
| Return on Assets | -15.6%+23.4pp | -39.1%-29.0pp | -10.1%+40.6pp | -50.7%-27.2pp | -23.5%-14.3pp | -9.2% |
| Current Ratio | 1.62+0.8x | 0.84-0.1x | 0.980.0x | 1.02-0.1x | 1.08-0.1x | 1.17 |
| Debt-to-Equity | 0.08 | N/A | N/A | N/A | 0.70-1.3x | 1.96 |
| FCF Margin | -56.9%-49.1pp | -7.8%-6.0pp | -1.8%+20.2pp | -22.0%+6.7pp | -28.7%+11.9pp | -40.6% |
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Where Redwire Corporation Ranks
Frequently Asked Questions
What is Redwire Corporation's annual revenue?
Redwire Corporation (RDW) reported $335.4M in total revenue for fiscal year 2025. This represents a 10.3% 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 Redwire Corporation's revenue growing?
Redwire Corporation (RDW) revenue grew by 10.3% year-over-year, from $304.1M to $335.4M in fiscal year 2025.
Is Redwire Corporation profitable?
No, Redwire Corporation (RDW) reported a net income of -$226.6M in fiscal year 2025, with a net profit margin of -67.5%.
What is Redwire Corporation's EBITDA?
Redwire Corporation (RDW) had EBITDA of -$197.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Redwire Corporation have?
As of fiscal year 2025, Redwire Corporation (RDW) had $94.5M in cash and equivalents against $80.0M in long-term debt.
What is Redwire Corporation's gross margin?
Redwire Corporation (RDW) had a gross margin of 5.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Redwire Corporation's operating margin?
Redwire Corporation (RDW) had an operating margin of -68.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Redwire Corporation's net profit margin?
Redwire Corporation (RDW) had a net profit margin of -67.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Redwire Corporation's return on equity (ROE)?
Redwire Corporation (RDW) has a return on equity of -21.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Redwire Corporation's free cash flow?
Redwire Corporation (RDW) recorded an outflow of $190.8M in free cash flow during fiscal year 2025. This represents a -703.5% 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 Redwire Corporation's operating cash flow?
Redwire Corporation (RDW) recorded an outflow of $177.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Redwire Corporation's total assets?
Redwire Corporation (RDW) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Redwire Corporation's capital expenditures?
Redwire Corporation (RDW) invested $13.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Redwire Corporation spend on research and development?
Redwire Corporation (RDW) invested $19.8M in research and development during fiscal year 2025.
What is Redwire Corporation's current ratio?
Redwire Corporation (RDW) had a current ratio of 1.62 as of fiscal year 2025, which is generally considered healthy.
What is Redwire Corporation's debt-to-equity ratio?
Redwire Corporation (RDW) had a debt-to-equity ratio of 0.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Redwire Corporation's return on assets (ROA)?
Redwire Corporation (RDW) had a return on assets of -15.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Redwire Corporation's cash runway?
Based on fiscal year 2025 data, Redwire Corporation (RDW) had $94.5M in cash against an annual operating cash burn of $177.3M. This gives an estimated cash runway of approximately 6 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.
What is Redwire Corporation's Altman Z-Score?
Redwire Corporation (RDW) has an Altman Z-Score of 4.97, placing it in the Safe Zone (low 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 Redwire Corporation's Piotroski F-Score?
Redwire Corporation (RDW) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 Redwire Corporation's earnings high quality?
Redwire Corporation (RDW) reported a net loss of $226.6M while operations used $177.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Redwire Corporation cover its interest payments?
Redwire Corporation (RDW) reported an operating loss of $229.7M against $39.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 Redwire Corporation?
Redwire Corporation (RDW) scores 44 out of 100 on our Financial Health Score, indicating moderate 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.