Assay

Financial-condition grades for SEC filers

Company Report · as of Oct 9, 2026

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MethodCoverageAbout
Starfighters Space, Inc.FJET · other
GradeNonecomputable_factors_below_threshold: 1 of 14 inputs computable; 7 are required
Reliability0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025
Peer failure rate1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025
Size band$12.5M to $120M assetstotal assets $28.4M[1]
Standard universeoutsiderevenue above $1M and assets above $10M[1-2]
Warningslate filer, thin data, degenerate inputsnot computable: dilution, short runway, distress, fortress balance sheet
Inputs computable1 of 14
Graded fromfilings received through Jul 21, 202680 days before the rescan; every figure keyed to the SEC receipt date
Last close$1.682026-10-08; market equity $92.4M; iex feed
Price used in gradeNone
Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history
$20JanFebMarAprMayJunJulAugSepOct$1.68
ABCDE20132014201520162017201820192020202120222023202420252026

Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date.

Open this report as it stood on

Letter setLetterPercentileBand
Jan 21, 2012nonen/a
Apr 21, 2026nonen/aQ2

Each date opens the report as it stood on that rescan.

Business, in the company's words. Opening of Item 1 of the 10-K received Apr 15, 2026; the document on sec.gov.

Starfighters Space, Inc. ("Starfighters", the "Company", "we", "our", and "us") is a commercial aerospace company incorporated in Delaware, USA, with its head office located at Reusable Launch Vehicle Hangar, Hangar Rd, Cape Canaveral, FL 32920. The Company’s mission statement is to make space accessible to entrepreneurs, researchers, industry, and government at a high cadence and the right cost. Currently, Starfighters operates the world's only commercial fleet of flight-ready F-104 supersonic aircraft ("Lockheed F-104"). The Lockheed F-104 was developed as a supersonic aircraft for the United States Armed Forces.

Warnings [top]

Late filer. found 3 NT 10-K/Q filings in the last eight quarters
Thin data. 1 of 14 grade factors are computable; minimum is 7
Degenerate inputs. latest revenue or assets are at or below the $100,000 validity floor[1-2]

7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.

The Fourteen Inputs [top]

Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.

InputPercentile, 0 to 100ValueSourcePeer medianPercentilePeersPeriod end
Profitability
Gross profitabilitynot computable27.1%
one or more required annual facts are missing
Return on invested capitalnot computable10.0%
one or more required annual facts are missing
Accruals rationot computable(5.9%)
a prior annual assets observation is required
Gross margin stability, five yearsnot computable2.2 pts
five annual gross margins are required; found 0
Solvency, sleeve percentile 5.1
Twelve-month failure probabilitynot computable0.04%
market price is missing at 2025-09-30
Altman Z double-primenot computable2.05
one or more required annual facts are missing
Net debt to EBITDAnot computable2.52x
one or more required annual facts are missing
Interest coveragenot computable2.18x
one or more required annual facts are missing
Current ratio6.60x[3-4]1.32x5.15062025-12-31
Growth and financing
Revenue growth, three-year compoundnot computable5.1%
four annual observations are required; found 1
Free cash flow growth, three-year compoundnot computable8.7%
four consecutive annual FCF observations are required; found 1
Reinvestment ratenot computable11.9%
one or more required annual facts are missing
Asset growth, three yearsnot computable4.1%
four annual observations are required; found 1
Net share issuance, one yearnot computable(0.4%)
two annual share counts are required; found 1

Gross profitability. Revenue less cost of goods sold, over total assets.

Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.

Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.

Twelve-month failure probability. CHS model; lower is stronger.

Net debt to EBITDA. Lower is stronger.

Net share issuance, one year. Split-adjusted; lower is stronger.

Among 336 Peers [top]

What the Price Implies [top]

Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.

MeasureValuePeer medianPercentileReading
Twelve-month price change, skipping the latest monthnot computable2.0%missing required 12-1 monthly returns: 2025-12, 2025-11, 2025-10
Distance from 52-week high(94.7%)(26.8%)2closer to its high than 2 of 100 peers
EBIT to enterprise valuenot computable4.4%required accounting or market input is missing
Free cash flow yield(9.1%)4.1%13pricier than 87 of 100 peers
Book value to price0.320.3449pricier than 51 of 100 peers
Sales to price0.000.700pricier than 100 of 100 peers
Composite equity issuance, five yearsnot computable(8.8%)a share count from five years earlier is required
Relative strength against the sector, log excess returnnot computable(0.13)missing required 12-1 monthly returns: 2025-12, 2025-11, 2025-10

Inputs: market equity $92.4M; free cash flow -$8.4M; book equity $29.8M; sales $0; cash $1.5M[5].

Diagnostics [top]

Diagnostics do not feed the grade.

Piotroski F-score: None of 9, period end 2025-12-31
Return on assets above zeron/a
Operating cash flow above zero-$8.2M✗ fail[6]
Return on assets improvedn/a[7]
Operating cash flow exceeds net income$8.3M✓ pass[6-7]
Long-term leverage felln/a[1]
Current ratio improvedn/a[3-4]
No new shares issuedn/a[8]
Gross margin improvedn/a
Asset turnover improvedn/a[2]
Cash, filings, liquidity
Cash and equivalentsn/a
Operating cash flow, four quartersn/a[6,9-11]
Months of runwaynot finite
four discrete operating-cash-flow quarters are required; found 3
Late filings, two years3
NT 10-K or NT 10-Q
Days since last periodic filing51
10-Q received Aug 19, 2026
Median daily dollar volume$2.5M
63 sessions
Days since newest grade input80

Downloads [top]

Sources [top]

Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.

#ConceptXBRL tagValuePeriod endReceivedFormLinks
1assetsus-gaap:Assets$28.4M2025-12-312026-07-2110-K/Afiling · viewer · series
2revenueus-gaap:Revenues$02025-12-312026-07-2110-K/Afiling · viewer · series
3current assetsus-gaap:AssetsCurrent$20.1M2025-12-312026-07-2110-K/Afiling · viewer · series
4current liabilitiesus-gaap:LiabilitiesCurrent$3.1M2025-12-312026-07-2110-K/Afiling · viewer · series
5shares outstandingdei:EntityCommonStockSharesOutstanding54,996,0192026-08-142026-08-1910-Qfiling · viewer · series
6operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$8.2M2025-12-312026-07-2110-K/Afiling · viewer · series
7net incomeus-gaap:NetIncomeLoss-$16.5M2025-12-312026-07-2110-K/Afiling · viewer · series
8shares outstandingdei:EntityCommonStockSharesOutstanding44,173,9722026-04-132026-07-2110-K/Afiling · viewer · series
9operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$10.1M2026-06-302026-08-1910-Qfiling · viewer · series
10operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$4.0M2026-03-312026-07-2110-Q/Afiling · viewer · series
11operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$5.0M2025-09-302026-01-2610-Qfiling · viewer · series

Limitations [top]

Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.

Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.

Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.

Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.

Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.

Informational and educational only. Not investment advice. SEC and market data may contain errors.

If you have any comments about this page, the methodology and every line of code that produced it are in the public repository. However, due to the limited number of personnel, we are unable to provide a direct response.

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GitHub · ezrakruger.cc
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Updated Oct 9, 2026