Innovative Aerosystems

ISSC

Aerospace & Defense · Industrials

Price

$18.46

+0.19 (+1.04%)

Market Cap

$330.3M

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count rising — dilution

+3.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 17.2M (2021) → 17.8M (2025)

Innovative Aerosystems, Inc., engages in the engineering, manufacturing, and supply of advanced avionic solutions. The company provides autothrottles; LPV Navigators; standby displays; COM/NAV/surveillance radio management systems; air data solutions; inertial reference systems; utilities management systems; and air data, attitude and heading reference systems. It also offers flat panel display systems, inertial reference systems, integrated global navigation systems, global positioning systems,

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-38.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$4M/ year

→ Flat (-4% vs prior year)

4.7% of revenue

In line with sector average (4%)

Steady R&D investment year-over-year

Insider Activity

8.7%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~3 months

$8M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Innovative Aerosystems has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

51.1%

Healthy — 51.1% gross margin

Operating Margin

22.1%

Excellent — 22.1% operating margin

ROCE

5.4%

Weak — 5.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+51.9%

Fast-growing sales (51.9% YoY)

EPS YoY

+83.1%

Earnings growing fast (83.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

18%

Weak — only 18% of profit becomes cash

FCF Margin

-4.5%

Burning cash (-4.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.34

Conservative — low debt load (0.34)

Interest Cover

13.10x

Comfortably covers interest (13.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

17.8x

Fair value — P/E 17.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

-2.2

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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