Intuitive Machines, Inc. key statistics and ratios

In fiscal 2025, Intuitive Machines, Inc. had an operating margin of -41.5% and a current ratio of 4.96. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Intuitive Machines, Inc.: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Operating margin	−7.8%	−76.8%	−25.2%	−41.5%	−27.5%
Net margin	−0.2%	77.6%	−124.3%	−39.7%	−26.6%
Free-cash-flow margin	−18.2%	−94.5%	−29.7%	−26.6%	−38.3%
Return on assets	−0.3%	80.8%	−128.4%	−15.0%	−9.9%
Asset turnover	1.28	1.04	1.03	0.38	0.37
Current ratio	0.48	0.39	2.97	4.96	1.66
Interest cover (operating income ÷ interest)	—	—	n/m	n/m	n/m
Effective tax rate	—	0.4%	—	—	—
Capital spending as % of revenue	19.1%	37.6%	4.4%	19.8%	12.5%
Free cash flow ÷ net income	—	−121.7%	—	—	—
Dividends ÷ net income	—	12.9%	—	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

Intuitive Machines, Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Operating margin	−23.5%	−24.5%	−16.1%	−56.9%	−29.4%	−73.9%	−21.0%	−22.9%
Net margin	−94.7%	−272.9%	−18.2%	−50.0%	−13.0%	−89.0%	−20.0%	−22.5%
Free-cash-flow margin	−33.0%	−12.6%	21.3%	−54.3%	−36.2%	−51.2%	−34.6%	−39.4%
Current ratio	1.77	2.97	4.39	3.70	6.28	4.96	1.22	1.66
R&D as % of revenue	—	—	1.5%	0.9%	—	—	3.0%	3.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 5 checks passed · June 30, 2026

What it owns · $1.9bn

Short-term assets $663mLonger-term assets $1.2bn

What it owes, and who funded it · $976m

Short-term liabilities $400mLonger-term liabilities $576mShareholders' equity $-291m

Short-term assets cover short-term liabilities $663m of assets due within a year against $400m of liabilities due within a year.
Short-term assets cover long-term liabilities $663m short-term assets against $576m of longer-dated liabilities.
More cash than debt $367m of cash against $336m of debt.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt −$126m of operating cash flow against $336m of debt.
Operating profit covers interest at least five times over Operating income of −$135m against $13m of interest.

From Intuitive Machines, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Intuitive Machines, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Intuitive Machines, Inc.