Terrific results This is the sleeper stock for the next 12 months. After a failed IPO, the results have been steadily improving.
Q2 showed continue revenue growth , strong ebitda margins north of 20 percent and a massive new award post quarter of $2.1 billion. Added to quarter end backlog of $1.1 billion, this puts total current backlog at $3.2 billion.
launch costs have fallen by over 90 percent in the past decade, and communications/surveillance related LEO constellations are in big demand. Both government and commercial space budgets are increasing materially. There are few companies with MDA's specialized skill set.
when SpaceX goes public and Canadians look to Space plays in our home market, there is only MDA. I believe EBITDA can reach $200 million in 2024 and comparable in the US are trading at 12-14x ebitda. Suggest EV could reach $2.5 billion and current market cap just $1 billion. Net debt just $210 million so current EV $1.2 billion. This thing could double IMO.
good luck.