Astroscale Holdings Inc. (JP:186A)
:186A
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Astroscale Holdings Inc.
(186A)
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Rating:48Neutral
Price Target:
¥2,669.00
▲(357.02% Upside)
Action:Reiterated
Date:05/26/26
The score is held back primarily by weak financial performance—large ongoing losses and significant negative free cash flow despite strong revenue growth and improved gross margin. Technicals are supportive due to a strong uptrend, but overbought readings increase near-term pullback risk. Valuation remains challenging given negative earnings and no dividend yield data.
Positive Factors
Revenue growth & improving gross margin
Sustained TTM revenue growth and a move to positive gross margin indicate improving commercial traction and early scale benefits. Over 2–6 months this supports stronger contract wins and unit economics as fixed costs are spread, improving the path toward sustainable operating leverage.
Negative Factors
Severe negative cash flow
Large and persistent cash burn requires continual external funding or asset sales to sustain operations. Over a 2–6 month horizon this elevates execution and dilution risk, constrains investment pace, and can force prioritization of contracts over strategic R&D if financing options tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & improving gross margin
Sustained TTM revenue growth and a move to positive gross margin indicate improving commercial traction and early scale benefits. Over 2–6 months this supports stronger contract wins and unit economics as fixed costs are spread, improving the path toward sustainable operating leverage.
Read all positive factors
Astroscale Holdings Inc. (186A) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥319.65B
Dividend YieldN/A
Average Volume (3M)6.36M
Price to Earnings (P/E)―
Beta (1Y)1.50
Revenue Growth127.91%
EPS Growth51.79%
CountryJP
Employees494
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-81.78
Shares Outstanding135,905,600
10 Day Avg. Volume12,134,070
30 Day Avg. Volume6,356,840
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)14.38
Price to Sales (P/S)35.85
P/FCF Ratio-6.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥950.00Price Target Upside62.67% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-40.13
Revenue Forecast (FY)¥10.58B
Astroscale Holdings Inc. Business Overview & Revenue Model
Company Description
Astroscale Holdings Inc. (186A) is a pioneering company in the space industry, focused on satellite servicing and space debris removal. The company operates primarily in the aerospace and defense sectors, offering innovative solutions for sustaina...
How the Company Makes Money
Astroscale primarily makes money by providing mission and engineering services related to in-orbit servicing and space debris mitigation. Revenue is generated through (1) customer-funded development contracts for spacecraft, subsystems, and enabli...
Astroscale Holdings Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
12
Very Negative
| Breakdown | TTM | Apr 2025 | Apr 2025 | Apr 2023 | Apr 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.37B | 2.46B | 2.85B | 1.79B | 910.37M |
| Gross Profit | 162.40M | -4.50B | -2.75B | -5.57B | -1.97B |
| EBITDA | -15.04B | -22.04B | -13.20B | -12.15B | -5.36B |
| Net Income | -10.24B | -21.55B | -9.18B | -9.26B | -5.48B |
Balance Sheet | |||||
| Total Assets | 32.70B | 33.63B | 24.99B | 30.44B | 20.13B |
| Cash, Cash Equivalents and Short-Term Investments | 13.93B | 21.30B | 14.20B | 22.68B | 16.87B |
| Total Debt | 10.67B | 13.93B | 13.18B | 9.73B | 2.50B |
| Total Liabilities | 22.29B | 27.50B | 19.59B | 15.55B | 6.03B |
| Stockholders Equity | 10.42B | 6.13B | 5.40B | 14.89B | 14.09B |
Cash Flow | |||||
| Free Cash Flow | -16.04B | -12.83B | -13.91B | -9.47B | -5.98B |
| Operating Cash Flow | -11.41B | -12.25B | -12.82B | -7.94B | -5.50B |
| Investing Cash Flow | -5.93B | -1.04B | -1.18B | -1.63B | -662.66M |
| Financing Cash Flow | 7.19B | 20.82B | 4.15B | 15.23B | 13.79B |
Astroscale Holdings Inc. Technical Analysis
Positive
584.00
Price Trends
1336.40
Positive
1129.36
Positive
918.93
Positive
Market Momentum
230.78
Negative
76.83
Negative
75.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:186A, the sentiment is Positive. The current price of 584 is below the 20-day moving average (MA) of 1661.45, below the 50-day MA of 1336.40, and below the 200-day MA of 918.93, indicating a bullish trend. The MACD of 230.78 indicates Negative momentum. The RSI at 76.83 is Negative, neither overbought nor oversold. The STOCH value of 75.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:186A.
Astroscale Holdings Inc. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥152.32B | 7.24 | ― | 2.81% | 12.49% | 26.21% | |
71 Outperform | ¥138.25B | 7.36 | 9.14% | 2.84% | 6.97% | 28.34% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | ¥95.37B | 23.43 | 19.52% | 0.13% | 45.08% | 102.67% | |
59 Neutral | ¥51.11B | 67.28 | ― | ― | 23.38% | 24.53% | |
48 Neutral | ¥319.65B | -15.61 | ― | ― | 127.91% | 51.79% |
* Industrials Sector Average
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Astroscale Holdings Inc. Corporate Events
Astroscale Sets Terms for 2029 Convertible Bonds and New Share Allotment
May 20, 2026
Astroscale Holdings Inc., a Tokyo Stock Exchange Growth Market-listed space company specializing in satellite-related services, is reinforcing its capital structure through a mix of equity and convertible financing. The company continues to levera...
Astroscale Raises Long-Term Capital with Convertible Bonds to Fund Growth in On-Orbit Services
May 19, 2026
Astroscale Holdings has approved the issuance of zero-coupon convertible bonds due 2029, along with new shares and Series 1 unsecured convertible bonds through third-party allotments to Hulic and SKY Perfect JSAT. The move is designed to strengthe...
Astroscale details supplementary disclosure on strategic growth financing
May 19, 2026
Astroscale Holdings Inc. outlined supplementary information on its strategic growth financing tied to the issuance of zero coupon convertible bonds due 2029 and new shares. The materials clarify that the instruments, including convertible bonds wi...
Astroscale boosts revenue, secures audited review ahead of new convertible bond offerings
May 19, 2026
Astroscale Holdings reported consolidated results for the nine months ended January 31, 2026, showing project income of ¥8,349 million, up 125.1% year on year, and revenue of ¥4,415 million, up 194.5%. Despite this strong top-line growth...
Astroscale Forms Strategic Capital Alliance with SKY Perfect JSAT to Expand On-Orbit Services
May 19, 2026
Astroscale Holdings Inc. has approved a capital and business alliance with SKY Perfect JSAT Corporation to strengthen and expand its on-orbit servicing operations and create new business opportunities in space services. By combining AstroscaleR...
Astroscale to Switch Independent Auditor to KPMG AZSA After Seven-Year Term
May 18, 2026
Astroscale Holdings Inc. plans to replace its current independent auditor, Ernst Young ShinNihon LLC, with KPMG AZSA LLC, subject to approval at its July 30, 2026 shareholders’ meeting. The change follows a seven-year engagement period with...
Astroscale Narrows Full-Year Loss Outlook on FX Gains Despite Subsidy Delays
May 17, 2026
Astroscale revised its consolidated forecast for the fiscal year ending April 30, 2026, projecting project income of ¥11.3 billion, near the upper end of its prior range thanks to robust growth in existing projects, even as government subsidy...
Astroscale Strengthens Global Leadership With New Finance Executive and Management Structure
Apr 26, 2026
Astroscale Holdings Inc. has strengthened its leadership structure by appointing Yoichiro Oshima as Executive Officer and Senior Vice President of Global Finance, effective April 24, 2026. This move reinforces the company’s global finance fu...
Astroscale Secures ¥1.25 Billion JAXA Grant for GEO Refueling Technology
Apr 10, 2026
Astroscale Holdings said its Japanese subsidiary has received a confirmed grant allocation of ¥1.25 billion from the Japan Aerospace Exploration Agency’s Space Strategy Fund for a two-year phase of a four-year technology development pro...
Astroscale Issues Cautious 2026 Business Update and Translation Notice
Apr 9, 2026
Astroscale Holdings Inc. has issued an informational business update document dated April 9, 2026, outlining its current assumptions, future outlook, and mission development plans. The company emphasizes that its statements are forward-looking and...
Astroscale Secures Second-Year REFLEX-J Contract for Satellite Refueling R&D
Apr 2, 2026
Astroscale Holdings said its Japanese subsidiary, Astroscale Japan Inc., has signed the second-year contract for the REFLEX-J project, a government-backed research and development program for satellite refueling technology under the Japan Science ...
Astroscale Tightens Global Management as Space Sustainability Business Scales Up
Apr 1, 2026
Astroscale Holdings has overhauled its global management structure effective April 1, 2026, elevating several executives and more tightly integrating regional leaders into the group’s top ranks. Founder Mitsunobu Okada remains representative...
Astroscale Names Gayle Sheppard Lead Independent Outside Director to Bolster Governance
Apr 1, 2026
Astroscale Holdings has appointed technology executive Gayle Sheppard as its Lead Independent Outside Director, effective April 1, 2026, following a board resolution on March 31. The company expects her deep management experience at major technolo...
Astroscale Flags Risks and Limitations in FY2026 Q3 Financial Results Presentation
Mar 13, 2026
Astroscale Holdings Inc. released an informational document presenting its FY2026 third-quarter financial results, emphasizing that the materials are for reference and may differ from actual future outcomes. The company highlighted that its perfor...
Astroscale Widens Losses Despite Surging Revenue and Stronger Balance Sheet
Mar 13, 2026
Astroscale reported a sharp increase in project income and revenue for the nine months ended January 31, 2026, with project income rising 125.1% to ¥8.35 billion and revenue nearly tripling to ¥4.42 billion. Despite this top-line growth ...
Astroscale Books ¥2.4 Billion Foreign Exchange Gain, Boosting Nine-Month Results
Mar 13, 2026
Astroscale Holdings Inc. reported a foreign exchange gain of ¥123 million in financial income for the quarter ended January 31, 2026, primarily driven by the revaluation of foreign currency cash, cash equivalents, and loans to subsidiaries at...
Astroscale Taps Isar Aerospace to Launch Pioneering Satellite End-of-Life Mission
Mar 12, 2026
Astroscale’s U.K. subsidiary has signed a launch contract with European space company Isar Aerospace for the ELSA-M in-orbit demonstration mission, scheduled for the fiscal year ending April 2028. The mission will test the commercial viabili...
Astroscale Japan Boosts First-Year Budget for REFLEX-J Satellite Refueling Project
Mar 11, 2026
Astroscale’s Japanese subsidiary has amended its contract for the REFLEX-J satellite refueling technology project with the Japan Science and Technology Agency, increasing the first-year contract amount to ¥1.06 billion from ¥0.59 b...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.