BlackSky Technology Inc.

BlackSky Technology Inc.

BKSYยทNYSE

$37.48

-12%
TechnologyHardware, Equipment & Parts

BlackSky Technology Inc. provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operations of satellite and ground systems to commercial and government customers worldwide. The company processes a range of observations from its constellation, as well as various space, internet-of-things, and terrestrial based sensors and data feeds. Its products are used in government defense and intelligence; commercial, construction, and industrial; and catastrophe, climate, and environment applications. The company was incorporated in 2014 and is headquartered in Herndon, Virginia.

At a Glance

Live Snapshot
Market Cap$1.39B
EPS-2.0900
P/E Ratio-17.93
Earnings Date08/06/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

Medium confidence

Valuation multiple is compressed (P/E -17.9).

Valuation inputs: P/E -17.9, earnings yield N/A, momentum -11.6%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE -74.1%, ROIC -14.0%).

Profitability stack: net margin -65.9%, ROE -74.1%, ROIC -14.0%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile is elevated and scenario stress-testing is essential.

Risk factors: liabilities/assets +75.5%, momentum -11.6%, net margin -65.9%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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BlackSky Technology Inc. Market vs Earnings Trajectory

BKSY ยท NYSE

Loading price and EPS data...

BlackSky Technology Inc.

BlackSky Technology Inc. Fair Value Envelope

BKSY ยท NYSE

Our analysis suggests that BKSY has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $37.48, this represents a potential HIDDEN relative to our calculated worth for BlackSky Technology Inc..

Intrinsic Value
Current Price: $37.48
3Y-59.0%
5Y-51.0%
10Y+11.0%
3Y+63.0%
5Y+404.0%
10Y+677.0%
3Y-5.0%
5Y+260.0%
10Y+874.0%
3Y-36.0%
5Y-11.0%
10Y+4108899.0%
3Y-21.0%
5Y-11.0%
10Y+6461874.0%
3Y+65.0%
5Y+223.0%
10Y+180589.0%
BlackSky Technology Inc.

BlackSky Technology Inc. Profit Bridge

BKSY ยท NYSE
Revenue106.58M
Cost of Goods Sold (65.65M)
Gross Profit40.93M
Operating Expenses (87.83M)
Operating Income-46.90M
Interest Expense (14.95M)
Other Income/Expense-23.23M
Pretax Income-70.14M
Income Tax (125.00K)
Net Income-70.26M
Net Income
-70.26M

Profitability Analysis

Gross Margin

38.4%

Strong gross margins indicate healthy pricing and efficient production or service delivery.

Operating Margin

-44.0%

Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.

Net Profit Margin

-65.9%

Net losses indicate the company is burning cash. Sustainability depends on path to profitability.

Profitability Insight

Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.

38.40%
Gross Profit Margin
-47%
3Y-15.0%
5Y-397.0%
10Y-
-44.01%
Operating Profit Margin
1%
3Y-67.0%
5Y-78.0%
10Y-
-65.93%
Net Profit Margin
18%
3Y-42.0%
5Y-29.0%
10Y-
-74.06%
Return on Equity
22%
3Y+22.0%
5Y-224.0%
10Y-
-18.14%
Return on Assets
-19%
3Y-43.0%
5Y+11.0%
10Y-
-14.01%
Return on Invested Capital
-27%
3Y-66.0%
5Y-72.0%
10Y-
BKSY

BlackSky Technology Inc. Cash Conversion Engine

BKSY ยท NYSE
Net Income-70.26M
Depreciation & Amortization30.95M
Stock-Based Compensation14.23M
Change in Working Capital3.67M
Others-6.90M
Capital Expenditures-16.21M
Free Cash Flow-44.52M

Cash Flow Quality Analysis

FCF Conversion Rate

63.4%

Moderate conversion rate. Some gap between earnings and cash flow may warrant investigation into working capital or non-cash items.

CapEx Intensity

-57.3%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

-101.8%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

+$3.67M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

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BlackSky Technology Inc. Funding & Solvency Profile

BKSY ยท NYSE
Cash & Cash Equivalents39.38M
Net Receivables24.61M
Inventory6.18M
Other Current Assets38.96M
Total Current Assets185 M
Property, Plant & Equipment98.84M
Goodwill & Intangible Assets14.15M
Long-Term Investments0.00
Other Non-Current Assets73.49M
Total Non-Current Assets172 M
Total Assets
371.75M

Financial Health Analysis

Current Ratio

3.46x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

3.60x

High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.

Working Capital

132 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

50% Current

Balanced asset mix between current and non-current assets, typical of many stable businesses.

Financial Health Insight

Mixed signals: Strong short-term liquidity provides comfort, but high overall leverage requires careful monitoring of debt servicing capabilities and refinancing risk.

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BlackSky Technology Inc. Street Expectations Map

BKSY ยท NYSE

Wall Street analysts project that BKSY stock may experience modest gains over the coming 12 months. The consensus 1-year price target stands at 40.88, with estimates ranging from a low of 35.00 to a high of 50.00.

Lowest Target
35.00
-6.62%
Consensus Target
40.88
9.07%
Highest Target
50.00
33.40%

The consensus 1-year price target stands at 40.88, with estimates ranging from a low of 35.00 to a high of 50.00.

Analyst Consensus Analysis

Upside Potential

+9.1%

Moderate upside. Analysts expect positive returns but with limited margin of safety. Consider entry timing.

Analyst Agreement

36.7% spread

Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.

Risk-Reward Profile

5.05x

Favorable risk-reward. Potential upside significantly exceeds downside risk, offering asymmetric return profile attractive for risk-tolerant investors.

Analyst Conviction

High

Positive outlook with reasonable agreement. Analysts generally optimistic about prospects with manageable uncertainty.

Market Sentiment Insight

Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.

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BlackSky Technology Inc. Insider Positioning

BKSY ยท NYSE

During the last 12 months, insiders have purchased $58K and sold $3.77M worth of BKSY shares, resulting in $3.71M of net selling activity.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

37.4K

721.00K

Net Activity

-721K

-$721K

6-9 Months

Bought

0

0.00

Sold

174.6K

3.05M

Net Activity

-3.0M

-$3.05M

9-12 Months

Bought

5.0K

57.94K

Sold

0

0.00

Net Activity

+58K

+$58K

Top Buyers

1
WT

Ward Tracy

Officer: Svp & Controller

5.0K sharesโ€ข2 transactions

$58K

Top Sellers

1
OBE

O'Toole Brian E

Director, Officer: Ceo And President

78.2K sharesโ€ข3 transactions

$1.39M

2
DHE

Dubois Henry Edward

Officer: Chief Financial Officer

74.5K sharesโ€ข3 transactions

$1.32M

3
LCL

Lin Christiana L

Officer: General Counsel & Cao

57.2K sharesโ€ข3 transactions

$1.02M

4
WT

Ward Tracy

Officer: Svp & Controller

2.1K sharesโ€ข3 transactions

$38K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $3.71M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.02:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Insider Participation

High Selling

4 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.

0.00%
Dividend Yield
3Y-
5Y-
10Y-
ย 

bksy Dividend History

BKSY
10Y CAGR +0%
Latest $0
Annual $0
Stable dividend payments
Last Period: +0%