公司概述
Surf Air Mobility Inc. operates as a specialized provider within the air mobility sector, delivering both scheduled commercial air services and on-demand flights tailored to specific customer requests across the United States and international markets. The company is classified under the Industrials sector and specifically within the Airlines industry, positioning it as a participant in the broader aviation infrastructure and passenger transport ecosystem. This operational scope is supported by a workforce of 467 employees, reflecting the human capital required to maintain flight operations and logistical networks. The company's current market capitalization stands at $94.70M, while its trailing twelve-month revenue is recorded at $106.56M. These valuation and revenue figures indicate that Surf Air Mobility Inc. is a mid-cap entity with a revenue base that is substantial for its industry classification, yet the market cap suggests a valuation that does not fully reflect traditional airline scale, pointing to a niche or high-risk investment profile where market sentiment may differ significantly from fundamental revenue generation.
财务健康
Surf Air Mobility Inc. reported a revenue of $106.56M for the trailing twelve months, yet it posted a net income of $-110,556,000 and an EBITDA of $-67,580,000, revealing a severe structural disconnect where operating costs and losses far exceed total revenue generation. The company generated negative free cash flow of $-42,716,376, which indicates a significant outflow of liquidity and a lack of financial flexibility to fund operations or capital expenditures without external financing. The gross margin stands at 3.9%, while the operating margin is -97.8% and the profit margin is -103.8%; these deeply negative margins, particularly the profit margin below -100%, suggest that the company is burning cash at a rate that exceeds its total sales, implying a highly leveraged cost structure or substantial non-operating losses. On the balance sheet, Surf Air Mobility Inc. holds $12.67M in cash against $100.58M in debt, resulting in a debt-to-equity ratio that is listed as N/A due to the likely negative equity position, indicating a highly leveraged and distressed financial state rather than a conservative stance. The current ratio is 0.23, which signals acute short-term liquidity constraints, meaning the company possesses less than one-quarter of the current assets needed to cover its current liabilities. Additionally, the return on equity is N/A and the return on assets is -37.6%, metrics that collectively reveal a complete inability of management to generate positive returns on shareholder capital or the company's total asset base, reflecting poor capital allocation efficiency.
估值评估
The trailing twelve-month P/E ratio is N/A due to negative earnings, whereas the forward P/E is -0.21, a negative metric that implies the market is pricing in a scenario where future earnings are expected to turn positive or that the current valuation model relies on non-GAAP adjustments, though the negative figure often signals market skepticism regarding immediate profitability. The price-to-book ratio is -1.64, indicating that the market values the company at a significant discount to its book value, a situation typically associated with distressed assets or entities with intangible assets not fully captured on the balance sheet. Alternative valuation metrics such as the price-to-sales ratio of 0.89 and the EV/EBITDA of -2.70 provide further context, suggesting the company trades at less than one times its revenue, which is unusual for a profitable airline but may reflect the market's expectation of a long turnaround period. The stock has exhibited extreme volatility, trading between a 52-week high of $9.91 and a 52-week low of $1.04, meaning the current price sits significantly below the recent peak, reflecting a substantial correction from its highest observed trading level over the past year. The beta value is 3.37, indicating that the stock is highly volatile and is expected to fluctuate with greater intensity than the broader market, making it suitable only for investors with a high tolerance for risk who can withstand sharp price swings.
Growth & Income
Surf Air Mobility Inc. experienced a revenue decline of -5.7% year-over-year, while earnings growth is listed as N/A due to the persistent negative net income, implying that the company is not only failing to grow its top line but is also deepening its losses relative to the previous fiscal period. The company does not distribute dividends, as evidenced by a dividend yield of N/A and a payout ratio of 0.0%, confirming that all available cash flow is retained to service debt or fund operations rather than being returned to shareholders. Consequently, the company's financial strategy focuses on reinvesting limited liquidity into its air mobility platform to potentially achieve future profitability, rather than providing income to investors through dividends. Overall, the growth and income profile is characterized by shrinking revenue, negative cash generation, and a total absence of dividend income, presenting a challenging fundamental picture for investors seeking capital appreciation or income yield in the current market environment.