Voyager Technologies, Inc.

Voyager Technologies, Inc.

VOYG·NYSE

$44.96

-5.3%
IndustrialsAerospace & Defense

Voyager Technologies, Inc. operates as a defense technology and space solutions company in the United States, Europe, the Middle East, and internationally. It operates through three segments: Defense & National Security, Space Solutions, and Starlab Space Stations. The Defense & National Security segment provides defense systems, such as missile defense interceptors, kill vehicles, and hypersonic missiles and reentry systems; signal intelligence systems, including software solutions that deliver critical intelligence to the modern warfighter; communication technologies comprising radiation-hardened laser and RF communications systems and advanced electro-optical and digital systems; and guidance, navigation, and control systems consisting of sun sensors, star trackers, and inertial measurement units, as well as artificial intelligence powered edge computing products. The Space Solutions segment offers advanced space technology systems, such as in-space propulsion systems with applications for orbital servicing, manufacturing, and deep space exploration; space infrastructure, including software solutions that deliver critical intelligence to the modern warfighter; and space science and mission management products. The Starlab Space Stations segment operates a commercial space station and provides continued permanent human presence in space. It serves defense, national security, and space industries. The company was formerly known as Voyager Space Holdings, Inc. and changed its name to Voyager Technologies, Inc. in February 2025. Voyager Technologies, Inc. was incorporated in 2019 and is headquartered in Denver, Colorado.

At a Glance

Live Snapshot
Market Cap$2.66B
EPS-1.9600
P/E Ratio-22.94
Earnings Date06/04/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal · Driver · Risk

Signal

Medium confidence

Valuation multiple is compressed (P/E -22.9).

Valuation inputs: P/E -22.9, earnings yield N/A, momentum -5.3%.

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

Driver

High confidence

Return profile is soft (ROE -27.3%, ROIC -11.1%).

Profitability stack: net margin -63.0%, ROE -27.3%, ROIC -11.1%.

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

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +59.1%, momentum -5.3%, net margin -63.0%.

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

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Voyager Technologies, Inc. Market vs Earnings Trajectory

VOYG · NYSE

Loading price and EPS data...

Voyager Technologies, Inc.

Voyager Technologies, Inc. Fair Value Envelope

VOYG · NYSE

Our analysis suggests that VOYG has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $44.96, this represents a potential HIDDEN relative to our calculated worth for Voyager Technologies, Inc..

Intrinsic Value
Current Price: $44.96
3Y+165.0%
5Y+165.0%
10Y+165.0%
3Y+22.0%
5Y+22.0%
10Y+22.0%
3Y+312.0%
5Y+312.0%
10Y+312.0%
3Y+296.0%
5Y+296.0%
10Y+296.0%
3Y+531.0%
5Y+531.0%
10Y+531.0%
3Y+456.0%
5Y+456.0%
10Y+456.0%
Voyager Technologies, Inc.

Voyager Technologies, Inc. Profit Bridge

VOYG · NYSE
Revenue166.42M
Cost of Goods Sold (145.08M)
Gross Profit21.34M
Operating Expenses (124.41M)
Operating Income-103.07M
Interest Expense (6.82M)
Other Income/Expense-9.70M
Pretax Income-112.77M
Income Tax (-440.00K)
Net Income-104.81M
Net Income
-104.81M

Profitability Analysis

Gross Margin

12.8%

Thin margins leave little room for error. Cost management and pricing strategy are critical.

Operating Margin

-61.9%

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

Net Profit Margin

-63.0%

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

Profitability Insight

High margin compression: Large gap between gross and net margins suggests operational inefficiencies or heavy debt burden. Focus on expense management and deleveraging.

12.82%
Gross Profit Margin
-47%
3Y-37.0%
5Y-37.0%
10Y-37.0%
-61.94%
Operating Profit Margin
84%
3Y+495.0%
5Y+495.0%
10Y+495.0%
-62.98%
Net Profit Margin
46%
3Y+237.0%
5Y+237.0%
10Y+237.0%
-27.32%
Return on Equity
-90%
3Y-113.0%
5Y-113.0%
10Y-113.0%
-9.98%
Return on Assets
-60%
3Y-26.0%
5Y-26.0%
10Y-26.0%
-11.12%
Return on Invested Capital
-61%
3Y-1.0%
5Y-1.0%
10Y-1.0%
VOYG

Voyager Technologies, Inc. Cash Conversion Engine

VOYG · NYSE
Net Income-104.81M
Depreciation & Amortization16.39M
Stock-Based Compensation18.92M
Change in Working Capital-8.70M
Others17.74M
Capital Expenditures-144.67M
Free Cash Flow-205.62M

Cash Flow Quality Analysis

FCF Conversion Rate

196.2%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

-237.4%

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

FCF Growth Trend

-90.0%

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

Working Capital Impact

-$8.70M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Working capital strain: Significant cash tied up in operations. Monitor receivables collection, inventory turns, and payment terms to optimize cash conversion cycle.

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Voyager Technologies, Inc. Funding & Solvency Profile

VOYG · NYSE
Cash & Cash Equivalents429.36M
Net Receivables12.16M
Inventory5.72M
Other Current Assets61.46M
Total Current Assets509 M
Property, Plant & Equipment233.33M
Goodwill & Intangible Assets252.42M
Long-Term Investments0.00
Other Non-Current Assets29.26M
Total Non-Current Assets263 M
Total Assets
1.02B

Financial Health Analysis

Current Ratio

4.57x

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

Debt-to-Equity Ratio

1.53x

Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.

Working Capital

397 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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Voyager Technologies, Inc. Street Expectations Map

VOYG · NYSE

Wall Street analysts project that VOYG stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 53.50, with estimates ranging from a low of 39.00 to a high of 60.00.

Lowest Target
39.00
-13.26%
Consensus Target
53.50
18.99%
Highest Target
60.00
33.45%

The consensus 1-year price target stands at 53.50, with estimates ranging from a low of 39.00 to a high of 60.00.

Analyst Consensus Analysis

Upside Potential

+19.0%

Strong upside potential. Consensus indicates attractive return opportunity with favorable risk-reward profile.

Analyst Agreement

39.3% spread

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

Risk-Reward Profile

2.52x

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

Asymmetric upside: Strong return potential with favorable risk-reward profile. The limited downside relative to upside makes this an attractive risk-adjusted opportunity for growth-oriented portfolios.

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Voyager Technologies, Inc. Insider Positioning

VOYG · NYSE

During the last 12 months, there has been no insider trading activity reported for VOYG.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

No selling activity

Insider Activity Analysis

Net Insider Sentiment

Neutral

No insider trading activity reported. This could indicate blackout periods, lack of conviction, or regulatory restrictions.

Insider Participation

No Activity

No insider trading activity reported from any insiders in the past year.

0.00%
Dividend Yield
-100%
3Y-
5Y-
10Y-
 

voyg Dividend History

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