Income Statement MDA Space Ltd.

Stocks

MDA

CA55293N1096

Aerospace & Defense

Market Closed - Toronto S.E. Other stock markets 21:00:00 10/07/2026 BST			5-day change	1st Jan Change
48.17 ^CAD	-4.06%		-18.82%	+80.82%

07-09	MDA Space Upsizes Bought Deal Offering to US$819 Million from US$712 Million	MT
07-08	MDA Space to Acquire 70% of Collecte Localisation Satellites in C$920 Million Deal	MT

50b5f.BBUmO71vxZicUXmSMwojrZdJI6lSarvpsmRmXOntuD8.RkZ0WI4JgM_sPwmqVT1ZzP8RRfsEGe-R5SUUaYqJ1XVifkdu9wO19vIDMA

Published financial data: MDA SPACE LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	477M	641M	808M	1.08B	1.63B
Total Revenues	477M	641M	808M	1.08B	1.63B
Cost of Goods Sold, Total	286M	389M	532M	755M	1.17B
Gross Profit	191M	252M	276M	326M	465M
Selling General & Admin Expenses, Total	58.3M	60M	68.8M	77M	109M
Stock-Based Compensation (IS)	13.5M	8.5M	10M	12.4M	17.7M
R&D Expenses	21.1M	32.8M	39.3M	36.9M	38.1M
Depreciation & Amortization - (IS)	23.5M	23.7M	31.6M	43.8M	54.9M
Amortization of Goodwill and Intangible Assets - (IS)	56.3M	52.5M	46.5M	47M	84.6M
Other Operating Expenses, Total	173M	178M	196M	217M	304M
Operating Income	18.6M	74.6M	79.4M	108M	160M
Interest Expense, Total	-26.8M	-18.2M	-8.6M	-28M	-17M
Interest And Investment Income	-	-	2M	7M	7.8M
Net Interest Expenses	-26.8M	-18.2M	-6.6M	-21M	-9.2M
Currency Exchange Gains (Loss)	-1.5M	3.7M	-2.8M	17.5M	-2.2M
Other Non Operating Income (Expenses)	1.6M	-20.2M	-800K	1.9M	6M
EBT, Excl. Unusual Items	-8.1M	39.9M	69.2M	107M	155M
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-	-1.9M	-1.6M	-2.7M
Gain (Loss) On Sale Of Assets	-	-	-	5.8M	-
Other Unusual Items	19.4M	-5.7M	-	-	-
EBT, Incl. Unusual Items	11.3M	34.2M	67.3M	111M	152M
Income Tax Expense	8.4M	7.9M	18.5M	31.6M	43.9M
Earnings From Continuing Operations	2.9M	26.3M	48.8M	79.4M	108M
Net Income to Company	2.9M	26.3M	48.8M	79.4M	108M
Net Income - (IS)	2.9M	26.3M	48.8M	79.4M	108M
Net Income to Common Incl Extra Items	2.9M	26.3M	48.8M	79.4M	108M
Net Income to Common Excl. Extra Items	2.9M	26.3M	48.8M	79.4M	108M
Per Share Items
Net EPS - Basic	0.03	0.22	0.41	0.66	0.87
Basic EPS - Continuing Operations	0.03	0.22	0.41	0.66	0.87
Basic Weighted Average Shares Outstanding	109M	119M	119M	120M	124M
Net EPS - Diluted	0.02	0.21	0.4	0.63	0.84
Diluted EPS - Continuing Operations	0.02	0.21	0.4	0.63	0.84
Diluted Weighted Average Shares Outstanding	116M	122M	121M	126M	130M
Normalized Basic EPS	-0.05	0.21	0.36	0.56	0.78
Normalized Diluted EPS	-0.04	0.2	0.36	0.53	0.75
Supplemental Items
EBITDA	75.7M	129M	131M	163M	223M
EBITA	67.2M	119M	118M	143M	194M
EBIT	18.6M	74.6M	79.4M	108M	160M
EBITDAR	78.1M	132M	136M	170M	232M
Effective Tax Rate - (Ratio)	74.34	23.1	27.49	28.47	28.81
Total Current Taxes	15.9M	3.4M	10.9M	20.9M	58.7M
Total Deferred Taxes	-7.5M	4.5M	7.6M	10.7M	-14.8M
Normalized Net Income	-5.06M	24.94M	43.25M	66.75M	96.94M
Interest Capitalized	-	-	-	13.7M	3M
Interest on Long-Term Debt	24.2M	17.4M	17.5M	39.1M	15.6M
Non-Cash Pension Expense	1M	-300K	-500K	-500K	-1.2M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	33.4M	44.7M	54.5M	60.5M	103M
Net Rental Expense, Total	2.4M	3.1M	5M	7.3M	8.6M
Imputed Operating Lease Interest Expense	1.39M	2.19M	886K	7.36M	5.02M
Imputed Operating Lease Depreciation	1.01M	911K	4.11M	-59.51K	3.58M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	13.5M	8.5M	10M	12.4M	17.7M
Total Stock-Based Compensation	13.5M	8.5M	10M	12.4M	17.7M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	83.6M	39.3M	22.5M	167M	152M
Total Cash And Short Term Investments	83.6M	39.3M	22.5M	167M	152M
Accounts Receivable, Total	166M	263M	322M	299M	270M
Other Receivables	23.8M	48.4M	78.4M	81.4M	116M
Total Receivables	189M	312M	400M	380M	386M
Inventory	8M	7.5M	9.9M	8.1M	23.5M
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	12.8M	19.8M	24.3M	71.7M	53.3M
Total Current Assets	294M	378M	457M	626M	614M
Gross Property Plant And Equipment	138M	266M	478M	668M	849M
Accumulated Depreciation	-13.6M	-23.5M	-36.6M	-56.4M	-84.8M
Net Property Plant And Equipment	125M	242M	441M	612M	764M
Long-term Investments	-	-	-	-	11.3M
Goodwill	420M	420M	440M	441M	800M
Other Intangibles, Total	571M	552M	582M	580M	877M
Deferred Tax Assets Long-Term	19.3M	19.1M	14.9M	9.9M	10M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	106M	139M	227M	328M	279M
Total Assets	1.53B	1.75B	2.16B	2.6B	3.36B
Liabilities
Accounts Payable, Total	71.3M	124M	219M	249M	391M
Accrued Expenses, Total	38.8M	54.1M	57.4M	60.2M	77.1M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	7.9M	6.7M	10.9M	16.2M	20.2M
Current Income Taxes Payable	11.8M	11.9M	4.4M	1.9M	11M
Unearned Revenue Current, Total	91.5M	111M	76.9M	761M	799M
Other Current Liabilities	4.6M	10.8M	4.5M	2.7M	19.2M
Total Current Liabilities	226M	319M	373M	1.09B	1.32B
Long-Term Debt	145M	244M	439M	-	272M
Long-Term Leases	7.8M	1.6M	75.2M	121M	119M
Pension & Other Post Retirement Benefits	33.8M	21.5M	22.8M	23.7M	23.4M
Deferred Tax Liability Non Current	158M	164M	181M	185M	246M
Other Non Current Liabilities	2.3M	1.1M	6.1M	800K	23.4M
Total Liabilities	573M	750M	1.1B	1.42B	2B
Common Stock, Total	951M	952M	956M	976M	1.04B
Additional Paid In Capital	16.9M	25M	31.3M	38M	36M
Retained Earnings	-14.4M	9.9M	58.7M	139M	247M
Comprehensive Income and Other	8.5M	14.1M	18.6M	23.5M	29.1M
Total Common Equity	962M	1B	1.06B	1.18B	1.36B
Total Equity	962M	1B	1.06B	1.18B	1.36B
Total Liabilities And Equity	1.53B	1.75B	2.16B	2.6B	3.36B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	118M	119M	120M	122M	126M
ECS Total Common Shares Outstanding	118M	119M	120M	122M	126M
Book Value / Share	8.14	8.43	8.91	9.68	10.73
Tangible Book Value	-29.4M	28.3M	42.4M	155M	-322M
Tangible Book Value Per Share	-0.25	0.24	0.35	1.28	-2.55
Total Debt	160M	252M	525M	137M	411M
Net Debt	76.8M	213M	502M	-29.9M	259M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-8.1M	-24.7M	-28.6M	-40.6M	-43.4M
Debt Equivalent Oper. Leases	19.2M	24.8M	40M	58.4M	68.8M
Equity Method Investments, Total	-	-	-	-	11.3M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	58.1M	71.5M	86M	142M	201M
Machinery, Total	22.8M	30.7M	51.7M	106M	128M
Full Time Employees	2.4K	2.7K	3K	3.4K	4K
Accumulated Allowance for Doubtful Accounts (Supple)	500K	5.8M	5.7M	22.5M	3.4M
Order Backlog	864M	1.38B	3.1B	4.39B	4.01B

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	2.9M	26.3M	48.8M	79.4M	108M
Depreciation & Amortization - CF	18.8M	18M	22.7M	31.7M	42.3M
Amortization of Goodwill and Intangible Assets - (CF)	48.6M	44.4M	38.7M	34.6M	33.8M
Depreciation & Amortization, Total	67.4M	62.4M	61.4M	66.3M	76.1M
Amortization of Deferred Charges, Total - (CF)	12.4M	13.8M	16.7M	24.7M	64.5M
(Gain) Loss From Sale Of Asset	-	-	-	-5.8M	-
Asset Writedown & Restructuring Costs	-	-	4.8M	3.3M	-
Stock-Based Compensation (CF)	13.5M	8.5M	10M	10.4M	12.8M
Other Operating Activities, Total	-10.5M	-27.3M	-32.6M	-2.1M	-8.7M
Change In Accounts Receivable	-18M	-100M	-69.6M	9.6M	54.6M
Change In Inventories	-1.5M	500K	-2.4M	-1.5M	-12.5M
Change In Accounts Payable	-1.6M	59.6M	66.3M	43M	50.9M
Change in Unearned Revenues	18.2M	19.3M	-35.4M	684M	26M
Change In Income Taxes	-	-	-	-	-
Change in Other Net Operating Assets	-10.7M	-5.9M	-54.5M	-96.1M	35.3M
Cash from Operations	72.1M	57M	13.5M	816M	408M
Capital Expenditure	-52.5M	-138M	-148M	-138M	-175M
Sale of Property, Plant, and Equipment	-	-	-	7.4M	200K
Cash Acquisitions	-	-	-24.4M	-27.3M	-363M
Sale (Purchase) of Intangible assets	-40.1M	-42.3M	-45.2M	-62.6M	-100M
Investment in Marketable and Equity Securities, Total	-6.2M	-	-	-9.2M	-10M
Other Investing Activities, Total	-	-	-	-	33.2M
Cash from Investing	-98.8M	-180M	-218M	-230M	-615M
Long-Term Debt Issued, Total	-	245M	195M	110M	645M
Total Debt Issued	-	245M	195M	110M	645M
Long-Term Debt Repaid, Total	-432M	-158M	-8.4M	-558M	-478M
Total Debt Repaid	-432M	-158M	-8.4M	-558M	-478M
Issuance of Common Stock	490M	500K	800K	11.8M	50M
Other Financing Activities, Total	-27.7M	-8.9M	-	-	-20.3M
Cash from Financing	30.6M	78.8M	187M	-436M	196M
Foreign Exchange Rate Adjustments	1.1M	-	-100K	-5.4M	-3.9M
Net Change in Cash	5M	-44.3M	-16.8M	144M	-14.7M
Supplemental Items
Cash Interest Paid	24.1M	19.6M	18.5M	25.4M	15M
Cash Income Tax Paid (Refund)	600K	5.2M	6.7M	-14.5M	-4.3M
Levered Free Cash Flow	-8.62M	-94.95M	-106M	640M	193M
Unlevered Free Cash Flow	8.12M	-83.58M	-100M	657M	203M
Change In Net Working Capital	4.2M	34.8M	44.8M	-687M	-220M
Net Debt Issued / Repaid	-432M	87.2M	187M	-448M	167M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.78	2.84	2.54	2.85	3.37
Return on Total Capital	1.08	3.93	3.49	4.67	6.52
Return On Equity %	0.41	2.68	4.73	7.09	8.57
Return on Common Equity	0.41	2.68	4.73	7.09	8.57
Margin Analysis
Gross Profit Margin %	40.11	39.32	34.13	30.14	28.45
SG&A Margin	12.22	9.36	8.52	7.13	6.66
EBITDA Margin %	15.87	20.1	16.25	15.07	13.67
EBITA Margin %	14.09	18.56	14.62	13.24	11.9
EBIT Margin %	3.9	11.63	9.83	10.04	9.83
Income From Continuing Operations Margin %	0.61	4.1	6.04	7.35	6.64
Net Income Margin %	0.61	4.1	6.04	7.35	6.64
Net Avail. For Common Margin %	0.61	4.1	6.04	7.35	6.64
Normalized Net Income Margin	-1.06	3.89	5.36	6.18	5.94
Levered Free Cash Flow Margin	-1.81	-14.81	-13.08	59.22	11.8
Unlevered Free Cash Flow Margin	1.7	-13.03	-12.42	60.84	12.45
Asset Turnover
Asset Turnover	0.32	0.39	0.41	0.45	0.55
Fixed Assets Turnover	4.42	3.5	2.36	2.05	2.37
Receivables Turnover (Average Receivables)	3.26	2.99	2.76	3.48	5.75
Inventory Turnover (Average Inventory)	39.39	50.21	61.15	83.84	73.96
Short Term Liquidity
Current Ratio	1.3	1.19	1.22	0.57	0.47
Quick Ratio	1.21	1.1	1.13	0.5	0.41
Operating Cash Flow to Current Liabilities	0.32	0.18	0.04	0.75	0.31
Days Sales Outstanding (Average Receivables)	111.82	122.05	132.13	105.06	63.49
Days Outstanding Inventory (Average Inventory)	9.27	7.27	5.97	4.36	4.93
Average Days Payable Outstanding	87.09	91.86	117.27	113.72	98.66
Cash Conversion Cycle (Average Days)	34	37.46	20.83	-4.29	-30.24
Long Term Solvency
Total Debt/Equity	16.68	25.17	49.31	11.63	30.34
Total Debt / Total Capital	14.29	20.11	33.02	10.42	23.28
LT Debt/Equity	15.86	24.51	48.29	10.26	28.85
Long-Term Debt / Total Capital	13.59	19.58	32.34	9.19	22.13
Total Liabilities / Total Assets	37.33	42.85	50.75	54.73	59.63
EBIT / Interest Expense	0.69	4.1	9.23	3.87	9.44
EBITDA / Interest Expense	3.21	7.53	16.37	6.24	13.92
(EBITDA - Capex) / Interest Expense	1.25	-0.04	-0.84	1.3	3.61
Total Debt / EBITDA	1.87	1.84	3.73	0.78	1.74
Net Debt / EBITDA	0.89	1.55	3.57	-0.17	1.1
Total Debt / (EBITDA - Capex)	4.79	-314.88	-72.92	3.75	6.71
Net Debt / (EBITDA - Capex)	2.29	-265.75	-69.79	-0.82	4.23
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	21	34.45	25.95	33.74	51.21
Gross Profit, 1 Yr. Growth %	36.38	31.78	9.32	18.11	42.73
EBITDA, 1 Yr. Growth %	105.71	70.28	1.78	24.09	37.16
EBITA, 1 Yr. Growth %	126.01	77.08	-0.76	21.08	35.87
EBIT, 1 Yr. Growth %	-198.94	301.08	6.43	36.52	48.06
Earnings From Cont. Operations, 1 Yr. Growth %	-112.57	806.9	85.55	62.7	36.65
Net Income, 1 Yr. Growth %	-112.57	806.9	85.55	62.7	36.65
Normalized Net Income, 1 Yr. Growth %	-84.01	-592.59	73.43	54.34	45.22
Diluted EPS Before Extra, 1 Yr. Growth %	-106.99	950	90.48	57.5	33.33
Accounts Receivable, 1 Yr. Growth %	30.81	58.94	22.15	-7.12	-9.71
Inventory, 1 Yr. Growth %	23.08	-6.25	32	-18.18	190.12
Net Property, Plant and Equip., 1 Yr. Growth %	36.58	94.23	82.04	38.81	24.85
Total Assets, 1 Yr. Growth %	5.44	14.09	23.47	20.16	29.21
Tangible Book Value, 1 Yr. Growth %	-94.67	-196.26	49.82	265.57	-307.81
Common Equity, 1 Yr. Growth %	110.25	4.04	6.41	10.45	15.22
Cash From Operations, 1 Yr. Growth %	-4.12	-20.94	-76.32	5.94K	-49.86
Capital Expenditures, 1 Yr. Growth %	1.31K	162.48	7.4	-6.62	24.15
Levered Free Cash Flow, 1 Yr. Growth %	-	1K	10.98	-705.44	-69.68
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-1.13K	19.98	-755.35	-68.87
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	27.55	30.13	29.79	42.21
Gross Profit, 2 Yr. CAGR %	-	34.06	20.03	13.63	29.84
EBITDA, 2 Yr. CAGR %	-	87.16	31.65	12.38	30.46
EBITA, 2 Yr. CAGR %	-	100.06	32.57	9.62	28.27
EBIT, 2 Yr. CAGR %	-	99.2	106.61	20.54	42.18
Earnings From Cont. Operations, 2 Yr. CAGR %	-	6.78	310.21	73.75	49.11
Net Income, 2 Yr. CAGR %	-	6.78	310.21	73.75	49.11
Normalized Net Income, 2 Yr. CAGR %	-	-11.26	192.29	63.61	49.71
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-14.31	347.21	73.2	44.91
Accounts Receivable, 2 Yr. CAGR %	-	44.19	39.34	6.51	-8.43
Inventory, 2 Yr. CAGR %	-	7.42	11.24	3.92	54.07
Net Property, Plant and Equip., 2 Yr. CAGR %	-	62.87	88.03	58.96	31.65
Total Assets, 2 Yr. CAGR %	-	9.68	18.69	21.8	24.6
Tangible Book Value, 2 Yr. CAGR %	-	-77.35	20.09	134.03	175.62
Common Equity, 2 Yr. CAGR %	-	47.9	5.22	8.41	12.81
Cash From Operations, 2 Yr. CAGR %	-	-12.94	-56.73	278.27	449.41
Capital Expenditures, 2 Yr. CAGR %	-	507.54	67.9	0.14	8.83
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	249.99	159.21	35.05
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	251.31	180.41	42.39
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	27.01	31.32	36.57
Gross Profit, 3 Yr. CAGR %	-	-	25.25	19.38	22.6
EBITDA, 3 Yr. CAGR %	-	-	52.77	29.08	20.1
EBITA, 3 Yr. CAGR %	-	-	58.37	28.62	17.75
EBIT, 3 Yr. CAGR %	-	-	61.64	79.96	29.1
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	28.37	201.4	60.38
Net Income, 3 Yr. CAGR %	-	-	28.37	201.4	60.38
Normalized Net Income, 3 Yr. CAGR %	-	-	10.95	136.24	57.23
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	11.84	215.82	58.74
Accounts Receivable, 3 Yr. CAGR %	-	-	36.43	21.71	0.8
Inventory, 3 Yr. CAGR %	-	-	15.06	0.41	46.33
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	69.03	69.94	46.66
Total Assets, 3 Yr. CAGR %	-	-	14.1	19.18	24.22
Tangible Book Value, 3 Yr. CAGR %	-	-	-57.48	74.04	124.94
Common Equity, 3 Yr. CAGR %	-	-	32.53	6.94	10.64
Cash From Operations, 3 Yr. CAGR %	-	-	-43.59	124.48	92.64
Capital Expenditures, 3 Yr. CAGR %	-	-	240.97	38.08	8.35
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	320.14	26.49
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	332.46	34.49
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	32.89
Gross Profit, 5 Yr. CAGR %	-	-	-	-	27.06
EBITDA, 5 Yr. CAGR %	-	-	-	-	43.42
EBITA, 5 Yr. CAGR %	-	-	-	-	45.56
EBIT, 5 Yr. CAGR %	-	-	-	-	53.55
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	36.3
Net Income, 5 Yr. CAGR %	-	-	-	-	36.3
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	25.08
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	24.05
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	16.32
Inventory, 5 Yr. CAGR %	-	-	-	-	29.31
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	52.95
Total Assets, 5 Yr. CAGR %	-	-	-	-	18.19
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	-10.2
Common Equity, 5 Yr. CAGR %	-	-	-	-	24.26
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	40.21
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	115.94