Loading…
York Space Systems, Inc. operates as a space and defense prime providing a comprehensive suite of mission-critical solutions for national security, government and commercial customers in the United States. It provides space and defense primes with proprietary hardware and software capabilities designed to address customers' requirements across the elements of the space ecosystem throughout the mission lifecycle. The company also engages in the design, production, integration, and operation of spacecraft to manage spacecraft and constellations. It offers S-CLASS, LX-CLASS, and M-CLASS spacecraft, which are satellite platforms to a range of space market needs. In addition, the company provides software that enables versatile integration of a variety of payloads for customers and supply chain commonalities across platforms, as well as software-enabled services. The company was formerly known as Yellowstone Midco Holdings II, LLC and changed its name to York Space Systems, Inc. in January 2026. York Space Systems, Inc. was founded in 2012 and is based in Greenwood Village, Colorado.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $386M | $-18M | $-85M | $-130M | -9.7% | 52.3% | -14.5% |
| 2024 | $254M | $-46M | $-99M | $14M | -12.7% | 6.5% | 233.5% |
| 2023 | $238M | $2M | $-30M | $-3M | -3.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Revenue | 238.10 | 253.53 | 386.20 |
| Operating Revenue | 238.10 | 253.53 | 386.20 |
| Cost Of Revenue | 183.20 | 221.11 | 310.74 |
| Gross Profit | 54.90 | 32.42 | 75.46 |
| Operating Expense | 97.79 | 124.22 | 134.01 |
| Research And Development | 6.97 | 20.44 | 18.36 |
| Selling General And Administration | 90.82 | 103.78 | 115.65 |
| Total Expenses | 280.99 | 345.33 | 444.75 |
| Operating Income | -42.89 | -91.80 | -58.55 |
| Total Operating Income As Reported | -46.14 | -91.97 | -70.66 |
| EBITDA | 1.81 | -46.29 | -18.28 |
| Normalized EBITDA | 5.06 | -46.12 | -3.97 |
| EBIT | -42.59 | -94.36 | -68.62 |
| Interest Income | 2.33 | 1.20 | 2.98 |
| Interest Expense | 26.18 | 29.92 | 26.62 |
| Net Interest Income | -23.85 | -28.72 | -23.64 |
| Other Non Operating Income Expenses | 1.23 | -3.60 | 1.26 |
| Other Income Expense | -2.03 | -3.77 | -13.05 |
| Interest Income Non Operating | 2.33 | 1.20 | 2.98 |
| Interest Expense Non Operating | 26.18 | 29.92 | 26.62 |
| Net Non Operating Interest Income Expense | -23.85 | -28.72 | -23.64 |
| Pretax Income | -68.76 | -124.29 | -95.24 |
| Tax Provision | -39.11 | -25.38 | -10.70 |
| Tax Rate For Calcs | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | -0.68 | -0.03 | -1.61 |
| Net Income Continuous Operations | -29.66 | -98.91 | -84.54 |
| Net Income From Continuing And Discontinued Operation | -29.66 | -98.91 | -84.54 |
| Net Income From Continuing Operation Net Minority Interest | -29.66 | -98.91 | -84.54 |
| Net Income | -29.66 | -98.91 | -84.54 |
| Net Income Common Stockholders | -29.66 | -98.91 | -85.08 |
| Net Income Including Noncontrolling Interests | -29.66 | -98.91 | -84.54 |
| Normalized Income | -27.09 | -98.77 | -71.83 |
| Diluted NI Availto Com Stockholders | -29.66 | -98.91 | -85.08 |
| Basic Average Shares | 107.58 | 107.58 | 125 |
| Diluted Average Shares | 107.58 | 107.58 | 125 |
| Reconciled Depreciation | 44.40 | 48.07 | 50.34 |
| Reconciled Cost Of Revenue | 183.20 | 221.11 | 310.74 |
| Total Unusual Items | -3.25 | -0.17 | -14.31 |
| Total Unusual Items Excluding Goodwill | -3.25 | -0.17 | -14.31 |
| Preferred Stock Dividends | 4.39 | 7.40 | 0.54 |
| Special Income Charges | -3.25 | -0.17 | -14.31 |
| Other Special Charges | - | - | 2.20 |
| Restructuring And Mergern Acquisition | 3.25 | 0.17 | 12.11 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| York Space Systems, Inc.this co. | YSS | $3.8B | -45.52 | 4.43 | -9.7% | -211.18 |
| BETA Technologies, Inc. | BETA | $4.3B | -5.82 | 2.39 | -41.0% | -3.99 |
| Redwire Corporation | RDW | $4.3B | -18.82 | 4.02 | -21.4% | -23.94 |
| The Brink's Company | BCO | $4.2B | 20.82 | 14.97 | 71.9% | 7.92 |
| NuScale Power Corporation | SMR | $4.2B | -11.67 |
| 3.55 |
| -30.4% |
| - |
| Tutor Perini Corporation | TPC | $3.8B | 47.50 | 3.14 | 6.6% | 11.47 |
| GPGI, Inc. | GPGI | $3.5B | -25.51 | 14.27 | -55.9% | -15.20 |
| T1 Energy Inc. | TE | $3.3B | -8.85 | 13.01 | -146.9% | -17.22 |
| Amprius Technologies, Inc. | AMPX | $3.2B | -72.51 | 30.75 | -42.4% | -168.40 |
| Peer Median | - | -10.26 | 8.51 | -35.7% | -15.20 | |