Starfighters Space Inc. Common Stock (FJET)

FairStock Score: 16/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett/Graham-style investor, I look first for a business that earns money and has a durable competitive advantage. Starfighters has an interesting niche: a commercial fleet of F-104 supersonic aircraft for training, testing, and launch access. But the numbers are discouraging. In fiscal 2024 (period ended 2024-12-31), it reported a net loss of $7.9 million and diluted EPS of $-0.46. In fiscal 2025 (period ended 2025-12-31), the loss widened to $16.5 million, or $-0.76 per diluted share. More recently, in fiscal Q2 2026 (quarter ended 2026-06-30), the net loss was $11.5 million, or $-0.24 per diluted share, far worse than fiscal Q2 2025's $1.9 million loss. Revenue is marked N/A in every filed period, so I cannot see a revenue base, let alone growth. FairStock's calculations show trailing free cash flow of negative $15.1 million, an FCF yield of negative 18.8%, ROE of negative 215.36%, and ROCE of negative 59.05%. The Piotroski F-Score is 2/9. The balance sheet has minimal debt (D/E 0.02), and Altman Z-Score 16.33, but that does not create owner earnings. At the 2026-10-13 close of $1.46, market cap is $80.3 million, P/B 2.70, and P/E negative 2.92. Paying that much for no reported revenue and widening losses offers no margin of safety. The 52-week range of $1.41-$31.50 shows how speculative sentiment has been. FairStock Score is 16/100, and the computed Lynch category is none because only two years of filed results exist. Unless revenue and cash flow appear, this is a story, not a value investment.

In plain English: Starfighters Space operates a fleet of F-104 supersonic jets for pilot and astronaut training, in-flight testing, and launch-related services. The business looks weak because it has reported no revenue in the filed periods and its losses are large and growing. At $1.46, the price looks expensive relative to those numbers, since investors are paying $80.3 million for a company with no reported sales and negative cash flow.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K/A (period ended 2025-12-31) · FY2024 10-K/A (period ended 2024-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer