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LOCKHEED MARTIN CORPORATION

(LMT)
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Nanoracks, Voyager Space, and Lockheed Martin Win NASA Contract to Build First-Of-Its-Kind Commercial Space Station

12/02/2021 | 03:19pm EST

Nanoracks, in collaboration with Voyager Space and Lockheed Martin has been awarded a $160 million contract by NASA to design its Starlab commercial space station as part of the agency's Commercial Low-Earth Orbit (LEO) Development program. Starlab will enable NASA's initiative to stimulate the commercial space economy and provide science and crew capabilities prior to the retirement of the International Space Station (ISS). The initial $160 million award to Nanoracks is made via a funded Space Act Agreement through 2025. This initial NASA-provided funding will be supplemented with customer pre-buy opportunities and public-private partnerships. Fully owned by Nanoracks, Starlab is planned to reach initial operating capability in 2027, which ensures continuous human presence in LEO by U.S. entities. NASA will have the opportunity to purchase crew and payload services on Starlab through separate services contracts with Nanoracks. Nanoracks has unparalleled commercial experience on the ISS. Joined by Voyager Space's sophisticated investment strategy and expertise in operational integration and Lockheed Martin's engineering knowledge and strategic vision, the Starlab team presented a formidable program for the future of LEO commercialization. The basic elements of the Starlab space station include a large inflatable habitat, designed and built by Lockheed Martin, a metallic docking node, a power and propulsion element, a large robotic arm for servicing cargo and payloads, and the George Washington Carver (GWC) Science Park. The GWC Science Park is a laboratory system which will host a comprehensive research, science, and manufacturing capability. Starlab will have the capacity to continuously host up to four astronauts to conduct critical science and research. Nanoracks will prime Starlab's development leveraging over a decade of experience as the pathfinder and global leader in commercial ISS utilization. Voyager Space, the majority shareholder in Nanoracks, will lead strategy and capital investment, and Lockheed Martin, a leader in developing and operating complex space technology, will serve as the technical integrator of the new advanced space station.


© S&P Capital IQ 2021
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Financials (USD)
Sales 2021 67 024 M - -
Net income 2021 6 251 M - -
Net Debt 2021 8 558 M - -
P/E ratio 2021 16,7x
Yield 2021 2,82%
Capitalization 104 B 104 B -
EV / Sales 2021 1,68x
EV / Sales 2022 1,70x
Nbr of Employees 114 000
Free-Float 99,5%
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 376,54 $
Average target price 393,88 $
Spread / Average Target 4,61%
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Managers and Directors
James D. Taiclet Chairman, President & Chief Executive Officer
John Wesley Mollard Chief Financial Officer, Treasurer & VP
Rodney A. Makoske SVP, Chief Engineering, Technology & Operations
Frank A. St. John Chief Operating Officer
Jay Peterson Director-Government Finance & Compliance
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