Astroscale Holdings Inc. (JP:186A)
:186A
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Astroscale Holdings Inc.
(186A)
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Rating:52Neutral
Price Target:
¥1,355.00
▲(132.02% Upside)
Action:ReiteratedDate:04/11/26
The score is held back primarily by weak financial performance—large ongoing losses and significant negative free cash flow despite strong revenue growth and improving gross margin. Technicals are a clear positive with strong uptrend signals, but valuation remains constrained by negative earnings.
Positive Factors
Sustained Revenue Growth
Consistent 23.5% TTM revenue growth indicates durable demand for Astroscale's in-orbit services. Over 2-6 months, sustained top-line momentum supports scaling mission programs, improves contract leverage and utilization of fixed engineering capacity, and underpins a path to improved unit economics.
Negative Factors
Heavy Cash Burn
Material negative operating cash flow (~-11.5B TTM) and FCF (~-16.2B) create a structural funding dependency. Persistent cash burn raises refinancing and dilution risk, constrains reinvestment in mission development, and threatens the company's ability to reliably execute multi-year contracts without external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Consistent 23.5% TTM revenue growth indicates durable demand for Astroscale's in-orbit services. Over 2-6 months, sustained top-line momentum supports scaling mission programs, improves contract leverage and utilization of fixed engineering capacity, and underpins a path to improved unit economics.
Read all positive factors
Astroscale Holdings Inc. (186A) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥182.14B
Dividend YieldN/A
Average Volume (3M)6.36M
Price to Earnings (P/E)―
Beta (1Y)1.41
Revenue Growth85.06%
EPS Growth43.93%
CountryJP
Employees494
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-17.46
Shares Outstanding135,724,300
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)-56.79
Revenue Forecast (FY)¥6.32B
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 makes money by providing in-orbit services and related mission programs to customers such as government space agencies and commercial satellite operators. Key revenue streams include (1) contracted mission revenue for designing, buildin...
Astroscale Holdings Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
12
Very Negative
| Breakdown | TTM | Apr 2026 | 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
1055.24
Positive
893.05
Positive
802.83
Positive
Market Momentum
63.08
Negative
68.96
Neutral
93.57
Negative
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 1079.05, below the 50-day MA of 1055.24, and below the 200-day MA of 802.83, indicating a bullish trend. The MACD of 63.08 indicates Negative momentum. The RSI at 68.96 is Neutral, neither overbought nor oversold. The STOCH value of 93.57 is Negative, 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 |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥183.26B | 11.69 | ― | 2.81% | 8.83% | 49.49% | |
77 Outperform | ¥112.96B | 17.71 | 19.52% | 0.13% | 28.27% | 27.15% | |
76 Outperform | ¥148.53B | 22.89 | ― | 1.92% | 7.46% | -8.01% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ¥165.97B | 8.92 | 9.14% | 2.84% | 0.26% | 14.29% | |
59 Neutral | ¥52.54B | 19.10 | ― | ― | 21.00% | 53.61% | |
52 Neutral | ¥182.14B | -15.61 | ― | ― | 85.06% | 43.93% |
* Industrials Sector Average
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Astroscale Holdings Inc. Corporate Events
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...
Astroscale Wins JAXA Funding to Develop GEO Satellite Refueling Technology
Jan 29, 2026
Astroscale’s Japanese subsidiary, Astroscale Inc., has been selected by the Japan Aerospace Exploration Agency (JAXA) to participate in the second phase of the Space Strategy Fund, securing eligibility for up to ¥1.5 billion in funding ...
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.
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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.