More broadly, GM's unfolding plan to become a major fuel-cell supplier will provide an intriguing new stream of revenue that isn't dependent on the ups and downs of global auto sales. After all, GM also recently announced a deal to partner with Lockheed Martin on a new lunar rover - 50 years after GM helped to develop the first lunar rover. (Honda uses the fuel cells in its own separate line of products.) Just in the last several months, GM has struck deals to develop Hydrotec fuel-cell systems to power heavy trucks with Nikola and Navistar International, for railroad locomotives with Wabtec, and for aviation with German aerospace supplier Liebherr-Aerospace.Ĭould space be next? I think it's likely. GM's "Hydrotec" fuel-cell systems use fuel cells manufactured by a joint venture between GM and Honda Motor. The world's first electric vehicle powered by a hydrogen fuel cell was GM's Electrovan, developed in 1966. They've been around for decades - and GM has been tinkering with them for over 50 years - but it's only recently that efforts by GM and others to make them commercially viable have started to bear fruit. The truth is, although GM has played some interesting roles in America's space-exploration efforts over the years, GM isn't really a space company - at least, not yet.īut the auto industry's pivot to electric and connected vehicles has led GM to develop some interesting new lines of business, and there's at least one that could play a meaningful role in efforts to explore and commercialize space in the years to come: Fuel cells.įuel cells are devices that chemically convert the energy in hydrogen gas to electricity, emitting only water. John Rosevear (General Motors): GM is many things, but is it really a space company? How this old automaker could become a critical space supplier Given the risks and uncertainty of pure-play space investments, it is one of the more attractive ways to buy into the modern-day space race. All of that at a reasonable 13 times earnings and 1.6 times sales. Northrop Grumman provides investors a way to buy into an industry-leading space portfolio and have the benefits of a company with a $80 billion backlog of orders and a 1.7% dividend yield. And the pace of innovation in the sector is accelerating, which is good reason for investors to get excited. Lou Whiteman (Northrop Grumman): No doubt, space is cool. That's an appealing price to pay to own one of the leading companies in satellite photography of Earth - and a key participant in NASA's Project Artemis plan to return to the moon. What does this mean for investors? Based on its current enterprise value of $5.2 billion, Maxar stock sells for less than 15 times its likely cash profit just two years out - and barely 12 times fiscal 2023 projected earnings. And analysts who follow the stock see FCF rising nearly 600% next year to $188 million as the company wraps up the spending needed to build its new fleet of imaging satellites, then nearly doubling again in 2023 to $349 million, according to data from S&P Global Market Intelligence.
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With $20 million in cash profit generated over the last four quarters, the company looks on course to finish in the green on free cash flow this year (after burning cash last year).
But it's movement in the right direction, and for that the company deserves some applause.Īlso noteworthy is the fact that Maxar is back in positive free-cash-flow territory. Granted, that's still nearly as big as the company's own market capitalization of $2.9 billion.
At the same time, though, Maxar made significant strides toward fixing its balance sheet in Q1, paying off $350 million in debt and reducing its net debt load to about $2.3 billion. Here's why three Fool contributors believe Maxar Technologies ( MAXR -2.03%), Northrop Grumman ( NOC -0.68%), and, believe it or not, General Motors ( GM -7.80%) deserve consideration for those interested in out-of-this-world investing.Īfter reporting its first-quarter 2021 earnings last month, Maxar was punished by investors for its big loss. But Bezos thanks to his Amazon billions doesn't need outside funding to get Blue Origin airborne, and seems to have no desire to take the company public.Įven if buying Blue Origin shares is out of the question, there are other ways for investors to buy into the growth potential of space.
It is an exciting time to be following Blue Origin, and investors surely would love to go along for the ride. The longtime Amazon CEO announced earlier this month that he intends to board a rocket soon after his planned July 5 retirement from an active role at the e-commerce giant.īezos and his brother will be among the first passengers his Blue Origin space company takes into space, the beginning of what Blue Origin hopes is a lucrative space tourism business.
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