RDW
Redwire Corporation
RDW offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
SHIP
Seanergy Maritime Holdings Corp.
SHIP has the edge over RDW overall, supported by lower modeled downside and stronger valuation.
RDW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
RDW's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
SHIP Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Healthy | |
| Stable |
SHIP's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
RDW PE Valuation
RDW has no meaningful PE right now: it lost money over the past year.
SHIP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.1x | $8.79 | -44% |
| Current | 5.5x | $15.58 | — |
| Forward | 5.5x | $15.58 | — |
| Fair | 9.8x | $28.08 | +80% |
| Expensive | 14x | $41.38 | +166% |
Historical ranges are pointers, not guarantees.
SHIP's PE is in its fair range at 5.5x. On analysts' estimates for next year's earnings, today's price would be 5.5x.
RDW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
RDW has the edge over SHIP on the outlook, with more favorable earnings and profitability expectations.
SHIP Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect SHIP's revenue to grow, but its profitability to weaken.
RDW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.17 | +$2.01 |
| Q2 2026 | -$1.37 | +$1.89 |
| Q1 2026 | -$2.59 | -$0.32 |
| Q4 2025 | -$2.28 | +$0.07 |
| Q3 2025 | -$3.18 | -$1.97 |
| Q2 2025 | -$3.26 | -$2.28 |
| Q1 2025 | -$2.27 | -$1.55 |
| Q4 2024 | -$2.35 | -$1.62 |
RDW is still losing money, but far less than before: $1.17 per share over the past year, against $3.26 at its worst in mid-2025.
SHIP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.82 | -1.3% |
| Q2 2026 | $2.86 | +281% |
| Q1 2026 | $1.79 | +43% |
| Q4 2025 | $1.00 | -52% |
| Q3 2025 | $0.73 | -69% |
| Q2 2025 | $0.75 | -47% |
| Q1 2025 | $1.25 | +56% |
| Q4 2024 | $2.09 | +4080% |
| Q3 2024 | $2.32 | +$2.81 |
SHIP has the edge over RDW on earnings quality, reporting a profit while its opponent remains loss making.
RDW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $109M | +5.4% |
| Q2 2026 | $117.1M | +90% |
| Q1 2026 | $97M | +58% |
| Q4 2025 | $108.8M | +56% |
| Q3 2025 | $103.4M | +51% |
| Q2 2025 | $61.8M | -21% |
| Q1 2025 | $61.4M | -30% |
| Q4 2024 | $69.6M | +9.6% |
RDW has the edge over SHIP on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +16 points |
| Q2 2026 | -19% | +130 points |
| Q1 2026 | -72% | -49 points |
| Q4 2025 | -75% | -48 points |
| Q3 2025 | -40% | -22 points |
| Q2 2025 | -149% | -140 points |
| Q1 2025 | -23% | -19 points |
| Q4 2024 | -27% | -17 points |
RDW's operating margin was −24% last quarter, up 16 points from the same quarter a year ago.
SHIP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $55.7M | +49% |
| Q1 2026 | $42.9M | +77% |
| Q4 2025 | $49.4M | +19% |
| Q3 2025 | $47M | +5.9% |
| Q2 2025 | $37.5M | -13% |
| Q1 2025 | $24.2M | -37% |
| Q4 2024 | $41.7M | +5.7% |
| Q3 2024 | $44.4M | +81% |
SHIP's revenue has grown year over year for four quarters in a row: $56M last quarter, up 49% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 47% | +25 points |
| Q1 2026 | 27% | +35 points |
| Q4 2025 | 37% | +12 points |
| Q3 2025 | 34% | -5.9 points |
| Q2 2025 | 22% | -23 points |
| Q1 2025 | -7% | -46 points |
| Q4 2024 | 26% | -11 points |
| Q3 2024 | 40% | +40 points |
SHIP has the edge over RDW on profitability, with a higher operating margin.
RDW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$65.3M | -$38.5M |
| Q2 2026 | -$33.5M | +$57.2M |
| Q1 2026 | -$11.4M | +$35.5M |
| Q4 2025 | -$26.5M | -659% |
| Q3 2025 | -$26.9M | -$7.6M |
| Q2 2025 | -$90.6M | -$80.2M |
| Q1 2025 | -$46.9M | -3996% |
| Q4 2024 | $4.7M | -65% |
RDW has burned cash in most quarters: −$137M over the past year, against −$160M the year before.
SHIP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$7.6M | -192% |
| Q1 2026 | -$19.6M | +$8.4M |
| Q4 2025 | $26.5M | +$39.6M |
| Q3 2025 | $10.8M | -18% |
| Q2 2025 | $8.2M | +$21.9M |
| Q1 2025 | -$28M | -294% |
| Q4 2024 | -$13.1M | -156% |
| Q3 2024 | $13.3M | +122% |
SHIP has the edge over RDW on cash generation, producing positive trailing cash flow while its opponent burns cash.
RDW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +29.6M shares |
| 1 year | +179% | +160M shares |
| 3 years | +289% | +186M shares |
| 5 years | +319% | +190M shares |
RDW has 250M diluted shares, up 179% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
SHIP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +177K shares |
| 1 year | +3.2% | +664K shares |
| 3 years | +7.4% | +1.5M shares |
| 5 years | +23% | +3.9M shares |
| Available history | +2117046% | +21.1M shares |
SHIP has the edge over RDW on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $2M |
| Q3 2024 | $1M |
SHIP hasn't bought back shares in the past year.
RDW Net Leverage
RDW's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
SHIP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | 2.6x | Moderate |
| Q4 2025 | 2.9x | Moderate |
| Q3 2025 | 3.5x | Elevated |
| Q2 2025 | 4.3x | High |
| Q1 2025 | 3.7x | Elevated |
| Q4 2024 | 2.6x | Moderate |
| Q3 2024 | 2.1x | Moderate |
SHIP's net debt is about 2.1 years of its operating earnings (EBITDA), down from 4.3 years a year ago.
RDW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.3 | Neutral |
| Stochastic | 16.1 | Oversold |
RDW's weekly RSI is 42 (neutral) and its Stochastic is 16 (oversold).
SHIP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.4 | Neutral |
| Stochastic | 19.7 | Oversold |
SHIP's weekly RSI is 49 (neutral) and its Stochastic is 20 (oversold).
RDW PE vs Industrials Sector
RDW has no meaningful PE right now: it lost money over the past year.
SHIP PE vs Industrials Sector
| Metric | SHIP | Sector median | Relative |
|---|---|---|---|
| PE | 5.5x | 24x | 77% below |
| PE % | 33 | 58 | 25 pts below |
SHIP is trading at 5.5x earnings, a 77% discount to the Industrials sector's median of 24x.
RDW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.06 | 11% below |
| 20 week MA | $10.1 | 20% below |
| 50 week MA | $10.6 | 24% below |
| 100 week MA | $11.6 | 31% below |
| 200 week MA | $8.07 | 0.5% below |
RDW is in a downtrend: it's below all five of its weekly moving averages, and 0.5% below its 200-week average.
SHIP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $16.0 | 2.8% below |
| 20 week MA | $16.5 | 5.3% below |
| 50 week MA | $14.3 | 9.3% above |
| 100 week MA | $10.7 | 45% above |
| 200 week MA | $9.14 | 70% above |
SHIP has the edge over RDW on trend strength, trading above more of its moving averages.
RDW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.2 | $7.34 | -28% |
| 2022 | $7.34 | $1.92 | -74% |
| 2023 | $1.92 | $2.85 | +48% |
| 2024 | $2.85 | $17.1 | +501% |
| 2025 | $17.1 | $7.15 | -58% |
| 2026 YTD | $7.15 | $8.03 | +12% |
RDW's yearly returns have swung widely, from +501% in 2024 to −74% in 2022. It's up 12% so far in 2026.
SHIP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $81.4 | $5.04 | -94% |
| 2021 | $5.04 | $9.12 | +81% |
| 2022 | $9.12 | $5.74 | -37% |
| 2023 | $5.74 | $7.83 | +36% |
| 2024 | $7.83 | $6.72 | -14% |
| 2025 | $6.72 | $9.45 | +41% |
| 2026 YTD | $9.45 | $15.6 | +65% |
SHIP has the edge over RDW on returns for 2026, with the stronger performance.