A Business at a Glance
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Business Overview Bridger provides aerial wildfire surveillance, relief and suppression and aerial firefighting services using next-generation technology and environmentally friendly and sustainable firefighting methods primarily throughout the United States, as well as airframe modification and integration solutions for governmental and commercial customers. Our mission is to save lives, property and habitats threatened by wildfires, leveraging our high-quality team, specialized aircraft and innovative use of technology and data. We are meeting an underserved and growing need for next-generation full-service aerial firefighting platforms. Bridger was founded by our former Chief Executive Officer, former Navy SEAL officer and current United States Senator Timothy Sheehy, in Bozeman, Montana in 2014 with one aircraft and a vision to build a global enterprise to fight wildfires. Bridger has since grown into a full-spectrum aerial firefighting service provider in the U.S.
| Metric | TTM | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 130M | 99M | 67M | - |
| Net Income | 6.4M | -41M | 8.5M | -330M |
| EPS | $-0.40 | $-0.81 | $-1.00 | $-8.20 |
| Free Cash Flow | 22M | 5.3M | -48M | -36M |
| ROIC | 9.7% | 1.4% | -21.8% | -5.8% |
| Gross Margin | 44.2% | 41.7% | 38.0% | - |
| Debt/Equity | 0.00 | -0.62 | -0.62 | -0.50 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | 27M | 5.3M | -57M | -23M |
| Operating Margin | 20.7% | 5.4% | -86.2% | - |
| ROE | 0.0% | - | - | - |
| Shares Outstanding | 56M | 51M | 54M | 40M |
| Metric | 2022 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | N/A | 67M | 99M | 130M |
| Gross Margin | N/A | 38.0% | 41.7% | 44.2% |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | -23M | -57M | 5.3M | 27M |
| Op. Margin | N/A | -86.2% | 5.4% | 20.7% |
| Net Income | -330M | 8.5M | -41M | 6.4M |
| Net Margin | N/A | 12.8% | -41.5% | 5.0% |
| Non-Recurring | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||
| ROIC | -5.8% | -21.8% | 1.4% | 9.7% |
| ROE | N/A | N/A | N/A | 0.0% |
| ROA | -108.0% | 3.1% | -14.5% | 2.1% |
| Cash Flow | ||||
| Op. Cash Flow | -9.9M | -27M | 9.4M | 34M |
| Free Cash Flow | -36M | -48M | 5.3M | 22M |
| Owner Earnings | -19M | -86M | -24M | 339K |
| CapEx | 26M | 21M | 4.1M | 12M |
| Maint. CapEx | 9.1M | 11M | 17M | 17M |
| Growth CapEx | 16M | 9.6M | 0 | 0 |
| D&A | 9.1M | 11M | 17M | 17M |
| CapEx/OCF | N/A | N/A | 43.7% | 34.0% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 9K | 48M | 16M | 16M |
| Debt Repayment | 2.0M | 2.2M | 3.0M | 3.0M |
| Balance Sheet | ||||
| Net Debt | 178M | 184M | 165M | 148M |
| Cash & Equiv. | N/A | N/A | N/A | 55M |
| Long-Term Debt | 205M | 205M | 202M | 202M |
| Debt/Equity | -0.50 | -0.62 | -0.62 | 0.00 |
| Interest Coverage | -1.1 | -2.5 | 0.2 | 0.2 |
| Equity | -414M | -328M | -327M | -322M |
| Total Assets | 306M | 273M | 291M | 311M |
| Total Liabilities | 231M | 247M | 237M | 233M |
| Intangibles | 2.5M | 13M | 21M | 21M |
| Retained Earnings | -415M | -414M | -429M | -429M |
| Working Capital | 83M | 20M | 40M | 40M |
| Current Assets | 107M | 45M | 64M | 64M |
| Current Liabilities | 24M | 25M | 23M | 23M |
| Per Share Data | ||||
| EPS | -8.20 | -1.00 | -0.81 | -0.40 |
| Owner EPS | -0.47 | -1.58 | -0.48 | 0.01 |
| Book Value | -10.26 | -6.05 | -6.47 | -5.80 |
| Cash Flow/Share | -0.25 | -0.49 | 0.19 | 0.43 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 40.3M | 54.2M | 50.5M | 55.5M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | -5.3 |
| P/FCF | N/A | N/A | 20.0 | 5.3 |
| EV/EBIT | N/A | N/A | 50.9 | 9.9 |
| Price/Book | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | 5.1 | 2.0 | 0.9 |
| FCF Yield | -8.7% | -11.8% | 5.0% | 18.9% |
| Market Cap | 407M | 402M | 106M | 118M |
| Avg. Price | 9.87 | 6.29 | 3.89 | 2.13 |
| Year-End Price | 10.10 | 7.41 | 2.09 | 2.13 |
Bridger Aerospace Group Holdings, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 5.3x vs a median of 20.0x. The company's 5-year average gross margin is 39.9%. At current prices, the estimated annualized return to fair value is +71.3%.
Bridger Aerospace Group Holdings, Inc. (BAER) has a 5-year average return on invested capital (ROIC) of -8.7%. This is below average and may indicate limited pricing power.
Bridger Aerospace Group Holdings, Inc. (BAER) has a market capitalization of $118M. It is classified as a small-cap stock.
Bridger Aerospace Group Holdings, Inc. (BAER) does not currently pay a regular dividend.
Bridger Aerospace Group Holdings, Inc. (BAER) operates in the Services-Business Services, Nec industry, within the Industrials sector.
Bridger Aerospace Group Holdings, Inc. (BAER) reported annual revenue of $99 million in its most recent fiscal year, based on SEC EDGAR filings.
Bridger Aerospace Group Holdings, Inc. (BAER) has a net profit margin of -41.5%. The company is currently unprofitable.
Bridger Aerospace Group Holdings, Inc. (BAER) generated $5 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Bridger Aerospace Group Holdings, Inc. (BAER) reported earnings per share (EPS) of $-0.81 in its most recent fiscal year.
Bridger Aerospace Group Holdings, Inc. (BAER) has a 5-year average gross margin of 39.9%. This indicates decent pricing power.
The Ledger Terminal provides 3 years of financial data for Bridger Aerospace Group Holdings, Inc. (BAER), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Bridger Aerospace Group Holdings, Inc. (BAER) has a book value per share of $-6.47, based on its most recent annual SEC filing.