Intrinsic value of Aerojet Rocketdyne Holdings - AJRD

Previous Close

$34.52

  Intrinsic Value

$21.44

stock screener

  Rating & Target

sell

-38%

Previous close

$34.52

 
Intrinsic value

$21.44

 
Up/down potential

-38%

 
Rating

sell

We calculate the intrinsic value of AJRD stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  1,915
  1,959
  2,009
  2,066
  2,128
  2,197
  2,272
  2,353
  2,440
  2,534
  2,634
  2,741
  2,855
  2,976
  3,104
  3,240
  3,384
  3,536
  3,697
  3,867
  4,046
  4,235
  4,434
  4,644
  4,865
  5,098
  5,343
  5,601
  5,872
  6,158
Variable operating expenses, $m
  1,608
  1,644
  1,686
  1,733
  1,784
  1,841
  1,903
  1,970
  2,042
  2,120
  2,178
  2,266
  2,360
  2,460
  2,566
  2,679
  2,798
  2,924
  3,057
  3,197
  3,346
  3,502
  3,667
  3,840
  4,023
  4,216
  4,418
  4,631
  4,856
  5,092
Fixed operating expenses, $m
  194
  198
  203
  207
  212
  217
  221
  226
  231
  236
  241
  247
  252
  258
  263
  269
  275
  281
  287
  294
  300
  307
  313
  320
  327
  335
  342
  349
  357
  365
Total operating expenses, $m
  1,802
  1,842
  1,889
  1,940
  1,996
  2,058
  2,124
  2,196
  2,273
  2,356
  2,419
  2,513
  2,612
  2,718
  2,829
  2,948
  3,073
  3,205
  3,344
  3,491
  3,646
  3,809
  3,980
  4,160
  4,350
  4,551
  4,760
  4,980
  5,213
  5,457
Operating income, $m
  113
  116
  120
  126
  132
  139
  147
  157
  167
  178
  215
  228
  242
  258
  274
  292
  311
  331
  353
  376
  401
  427
  454
  484
  515
  548
  583
  620
  660
  701
EBITDA, $m
  197
  201
  207
  214
  223
  232
  242
  254
  267
  281
  296
  313
  330
  350
  370
  392
  416
  441
  467
  496
  526
  558
  592
  628
  666
  706
  749
  794
  841
  892
Interest expense (income), $m
  0
  33
  29
  31
  34
  38
  41
  45
  50
  54
  60
  65
  71
  77
  84
  91
  98
  106
  115
  124
  133
  143
  153
  165
  176
  188
  201
  215
  229
  244
  260
Earnings before tax, $m
  79
  87
  89
  91
  94
  98
  102
  107
  112
  118
  150
  157
  165
  174
  183
  193
  205
  216
  229
  243
  258
  273
  290
  308
  327
  347
  368
  391
  415
  441
Tax expense, $m
  21
  24
  24
  25
  25
  26
  28
  29
  30
  32
  40
  42
  45
  47
  49
  52
  55
  58
  62
  66
  70
  74
  78
  83
  88
  94
  99
  106
  112
  119
Net income, $m
  58
  64
  65
  67
  69
  71
  75
  78
  82
  86
  109
  115
  120
  127
  134
  141
  149
  158
  167
  177
  188
  199
  212
  225
  238
  253
  269
  285
  303
  322

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,304
  2,357
  2,418
  2,486
  2,561
  2,644
  2,734
  2,831
  2,936
  3,049
  3,170
  3,298
  3,435
  3,581
  3,735
  3,899
  4,072
  4,255
  4,449
  4,653
  4,869
  5,097
  5,336
  5,589
  5,855
  6,135
  6,430
  6,740
  7,067
  7,410
Adjusted assets (=assets-cash), $m
  2,304
  2,357
  2,418
  2,486
  2,561
  2,644
  2,734
  2,831
  2,936
  3,049
  3,170
  3,298
  3,435
  3,581
  3,735
  3,899
  4,072
  4,255
  4,449
  4,653
  4,869
  5,097
  5,336
  5,589
  5,855
  6,135
  6,430
  6,740
  7,067
  7,410
Revenue / Adjusted assets
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
  0.831
Average production assets, $m
  498
  509
  522
  537
  553
  571
  591
  612
  634
  659
  685
  713
  742
  774
  807
  842
  880
  919
  961
  1,005
  1,052
  1,101
  1,153
  1,208
  1,265
  1,326
  1,389
  1,456
  1,527
  1,601
Working capital, $m
  -111
  -114
  -117
  -120
  -123
  -127
  -132
  -136
  -142
  -147
  -153
  -159
  -166
  -173
  -180
  -188
  -196
  -205
  -214
  -224
  -235
  -246
  -257
  -269
  -282
  -296
  -310
  -325
  -341
  -357
Total debt, $m
  534
  582
  636
  697
  765
  839
  921
  1,008
  1,103
  1,204
  1,313
  1,428
  1,552
  1,683
  1,822
  1,969
  2,125
  2,290
  2,464
  2,648
  2,842
  3,047
  3,263
  3,490
  3,730
  3,982
  4,247
  4,526
  4,820
  5,129
Total liabilities, $m
  2,074
  2,121
  2,176
  2,237
  2,305
  2,379
  2,460
  2,548
  2,643
  2,744
  2,853
  2,968
  3,092
  3,223
  3,362
  3,509
  3,665
  3,830
  4,004
  4,188
  4,382
  4,587
  4,803
  5,030
  5,269
  5,522
  5,787
  6,066
  6,360
  6,669
Total equity, $m
  230
  236
  242
  249
  256
  264
  273
  283
  294
  305
  317
  330
  344
  358
  374
  390
  407
  426
  445
  465
  487
  510
  534
  559
  585
  614
  643
  674
  707
  741
Total liabilities and equity, $m
  2,304
  2,357
  2,418
  2,486
  2,561
  2,643
  2,733
  2,831
  2,937
  3,049
  3,170
  3,298
  3,436
  3,581
  3,736
  3,899
  4,072
  4,256
  4,449
  4,653
  4,869
  5,097
  5,337
  5,589
  5,854
  6,136
  6,430
  6,740
  7,067
  7,410
Debt-to-equity ratio
  2.320
  2.470
  2.630
  2.810
  2.990
  3.180
  3.370
  3.560
  3.760
  3.950
  4.140
  4.330
  4.520
  4.700
  4.880
  5.050
  5.220
  5.380
  5.540
  5.690
  5.840
  5.980
  6.110
  6.240
  6.370
  6.490
  6.610
  6.720
  6.820
  6.920
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  58
  64
  65
  67
  69
  71
  75
  78
  82
  86
  109
  115
  120
  127
  134
  141
  149
  158
  167
  177
  188
  199
  212
  225
  238
  253
  269
  285
  303
  322
Depreciation, amort., depletion, $m
  84
  85
  87
  89
  91
  93
  95
  98
  100
  103
  82
  85
  88
  92
  96
  100
  105
  109
  114
  120
  125
  131
  137
  144
  151
  158
  165
  173
  182
  191
Funds from operations, $m
  142
  149
  152
  155
  159
  164
  170
  176
  182
  189
  191
  199
  209
  219
  230
  242
  254
  267
  282
  297
  313
  330
  349
  368
  389
  411
  434
  459
  485
  512
Change in working capital, $m
  -2
  -3
  -3
  -3
  -4
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
Cash from operations, $m
  144
  152
  155
  159
  163
  168
  174
  180
  187
  195
  197
  206
  215
  226
  237
  249
  262
  276
  291
  307
  324
  341
  360
  381
  402
  424
  448
  474
  501
  529
Maintenance CAPEX, $m
  -58
  -59
  -61
  -62
  -64
  -66
  -68
  -70
  -73
  -76
  -78
  -82
  -85
  -88
  -92
  -96
  -100
  -105
  -109
  -114
  -120
  -125
  -131
  -137
  -144
  -151
  -158
  -165
  -173
  -182
New CAPEX, $m
  -11
  -11
  -13
  -15
  -16
  -18
  -19
  -21
  -23
  -24
  -26
  -28
  -30
  -31
  -33
  -35
  -37
  -40
  -42
  -44
  -47
  -49
  -52
  -55
  -57
  -61
  -64
  -67
  -71
  -74
Cash from investing activities, $m
  -69
  -70
  -74
  -77
  -80
  -84
  -87
  -91
  -96
  -100
  -104
  -110
  -115
  -119
  -125
  -131
  -137
  -145
  -151
  -158
  -167
  -174
  -183
  -192
  -201
  -212
  -222
  -232
  -244
  -256
Free cash flow, $m
  76
  81
  81
  82
  83
  84
  86
  89
  92
  95
  92
  96
  101
  106
  112
  118
  125
  132
  140
  148
  157
  167
  178
  189
  201
  213
  227
  241
  257
  273
Issuance/(repayment) of debt, $m
  -83
  48
  55
  61
  68
  74
  81
  88
  95
  101
  108
  116
  123
  131
  139
  147
  156
  165
  174
  184
  194
  205
  216
  227
  239
  252
  265
  279
  294
  309
Issuance/(repurchase) of shares, $m
  70
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -13
  48
  55
  61
  68
  74
  81
  88
  95
  101
  108
  116
  123
  131
  139
  147
  156
  165
  174
  184
  194
  205
  216
  227
  239
  252
  265
  279
  294
  309
Total cash flow (excl. dividends), $m
  63
  128
  136
  143
  151
  159
  167
  177
  186
  196
  201
  212
  224
  237
  251
  265
  281
  297
  314
  332
  351
  372
  393
  416
  440
  465
  492
  521
  551
  582
Retained Cash Flow (-), $m
  -128
  -5
  -6
  -7
  -8
  -8
  -9
  -10
  -11
  -11
  -12
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -19
  -20
  -22
  -23
  -24
  -25
  -27
  -28
  -29
  -31
  -33
  -34
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -65
  123
  129
  136
  143
  151
  158
  167
  176
  185
  189
  199
  211
  223
  235
  249
  263
  279
  295
  312
  330
  349
  369
  391
  413
  437
  463
  490
  518
  548
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -62
  113
  113
  112
  111
  109
  107
  104
  101
  97
  90
  85
  80
  75
  69
  63
  57
  51
  45
  40
  34
  29
  24
  20
  16
  13
  10
  8
  6
  4
Current shareholders' claim on cash, %
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6
  93.6

Aerojet Rocketdyne Holdings, Inc. designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates in two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the U.S. government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors, as well as for the commercial sector. This segment also offers propulsion systems, such as liquid, solid, air-breathing, and electric types of launch propulsion, in-space propulsion, missile defense propulsion, tactical missile propulsion, and hypersonic propulsion systems for defense and space applications; and armament systems for precision tactical systems and munitions serving military, civil, and commercial customers. The Real Estate segment engages in the re-zoning, entitlement, sale, and leasing of the company’s excess real estate assets. It owns approximately 11,500 acres of land adjacent to U.S. Highway 50 between Rancho Cordova and Folsom, California east of Sacramento. The company was formerly known as GenCorp Inc. and changed its name to Aerojet Rocketdyne Holdings, Inc. in April 2015. Aerojet Rocketdyne Holdings, Inc. was founded in 1915 and is headquartered in El Segundo, California.

FINANCIAL RATIOS  of  Aerojet Rocketdyne Holdings (AJRD)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

AJRD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AJRD stock intrinsic value calculation we used $1877.2 million for the last fiscal year's total revenue generated by Aerojet Rocketdyne Holdings. The default revenue input number comes from 0001 income statement of Aerojet Rocketdyne Holdings. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AJRD stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for AJRD is calculated based on our internal credit rating of Aerojet Rocketdyne Holdings, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Aerojet Rocketdyne Holdings.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AJRD stock the variable cost ratio is equal to 84%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $190 million in the base year in the intrinsic value calculation for AJRD stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Aerojet Rocketdyne Holdings.

Corporate tax rate of 27% is the nominal tax rate for Aerojet Rocketdyne Holdings. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AJRD stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AJRD are equal to 26%.

Life of production assets of 8.4 years is the average useful life of capital assets used in Aerojet Rocketdyne Holdings operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AJRD is equal to -5.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $102.4 million for Aerojet Rocketdyne Holdings - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 75.6 million for Aerojet Rocketdyne Holdings is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Aerojet Rocketdyne Holdings at the current share price and the inputted number of shares is $2.6 billion.

COMPANY NEWS

▶ Bidding Farewell to a Space Industry Workhorse   [Sep-13-18 12:00PM  GlobeNewswire]
▶ G.research Aerospace & Defense Conference   [Sep-12-18 09:06AM  Business Wire]
▶ RS-25 Engine Tests Modernization Upgrades   [Aug-14-18 06:58PM  GlobeNewswire]
▶ Strong earnings report launches Aerojet stock 21 percent   [09:39AM  American City Business Journals]
▶ Boeing, SpaceX To Benefit As Pentagon Readies This Historic Change   [Jul-31-18 04:02PM  Investor's Business Daily]
▶ Aerojet Rocketdyne makes motor in Rancho Cordova for Mars mission   [Jul-10-18 02:32PM  American City Business Journals]
▶ Orion Jettison Motor Ready for Crew Escape System Test   [Jul-09-18 10:00AM  GlobeNewswire]
▶ Gabelli & Companys Aerospace & Defense Conference   [Jun-28-18 07:30AM  Business Wire]
▶ Aerojet Rocketdyne Shows Improved Relative Strength; Still Shy Of Benchmark   [May-25-18 03:00AM  Investor's Business Daily]
▶ Space Coast job growth surges as aerospace and rocket firms take off   [09:25AM  American City Business Journals]
▶ Career launch: SpaceX, Lockheed Martin, Boeing and more to hire nearly 150 workers   [May-21-18 03:16PM  American City Business Journals]
▶ Rocket roundup: When SpaceX will launch again; ULA's plans for Vulcan booster   [May-16-18 05:20PM  American City Business Journals]
▶ United Launch Alliance picks Aerojet Rocketdyne engine   [May-11-18 06:06PM  American City Business Journals]
▶ Aerojet Rocketdyne Has InSight Every Step of the Way   [May-03-18 10:00AM  GlobeNewswire]
▶ Aerojet Rocketdyne: 1Q Earnings Snapshot   [May-01-18 06:35PM  Associated Press]
▶ RL10 Selected for OmegA Rocket   [Apr-16-18 08:52PM  GlobeNewswire]
▶ Aerojet Rocketdyne Ships Starliner Re-entry Thrusters   [Mar-15-18 05:36PM  GlobeNewswire]
▶ Aerojet Rocketdyne reports 4Q loss   [Feb-22-18 05:03AM  Associated Press]
▶ RS-25 Engine Throttles Up for Deep Space Exploration   [Feb-21-18 04:48PM  GlobeNewswire]
▶ Aerojet Rocketdyne RS-25 Test Advances Exploration Efforts   [Jan-16-18 06:42PM  GlobeNewswire]
▶ Kensho's Space index   [08:58AM  CNBC Videos]
▶ RS-25 Engine Test is Giant Step for 3-D Printing   [Dec-13-17 05:26PM  GlobeNewswire]
▶ Stocks To Watch: Aerojet Rocketdyne Sees RS Rating Rise To 93   [03:00AM  Investor's Business Daily]
▶ Aerojet Rocketdyne meets 3Q profit forecasts   [Nov-06-17 05:37AM  Associated Press]
▶ Why Aerojet Rocketdyne Stock Dropped 13% Friday   [Nov-03-17 05:53PM  Motley Fool]

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