NewSpace Index^™

The SpaceWorks® NewSpace Index™ (NSI) provides insight into how publicly-traded companies within the space industry are performing relative to those within two key U.S. Stock Indices: the Standard and Poor’s (S&P) 500 and the Dow Jones Industrial Average (DJIA). Additionally, the SpaceWorks Commercial Team added the SpaceWorks Traditional Space Index (TSI) as another point of comparison.

The numbers shown for each of the four indices represent the current performance of $100 if invested in those four company market baskets as of January 4, 2021 (Full), 1 year ago, 90 days ago, 30 days ago, and 10 days ago.  For the purposes of the NSI, we narrowed the scope to only include commercial spaceflight “NewSpace” companies, especially ones that went public through a Special Purpose Acquisition Company (SPAC) merger (Traditional space companies are being tracked only for comparison purposes). The SpaceWorks NSI was internally developed to measure relative performance over time.

The index methodology is explained in greater detail at the bottom of the page.
The NSI is best experienced and viewed on a Desktop device.

Commentary

Despite Launch Failure, Rocket Lab is Doing Just Fine

Three NewSpace Index (NSI) Companies Plan Reverse Stock Splits to Avoid Delisting

Virgin Galactic Back on Track… But is the Track Getting Narrower?

Commercial Advisory Services

SpaceWorks’ Commercial Advisory team provides strategic market analysis, market growth projections, business plan models, pitch deck support, and due diligence inputs for a range of aerospace, flight, and commercial markets. Past SpaceWorks Commercial clients have included startup companies looking for independent inputs to their business plans, investment banks looking for technical insight into NewSpace markets, inventors looking to develop a business model around a new widget or technology, and even NASA and DoD clients looking for synergies between government investments and future commercial market potential. We are the consulting side of the company and open to any inquiries you may have.

Price-based market research | Future market forecasts | Spreadsheet-based business modeling | Presentation-style independent assessments | Project life-cycle cost estimates | Project return on investment estimates

Index Methodology

The SpaceWorks NewSpace Index uses data from Google Finance and Yahoo Finance as the basis for calculations. Each company’s impact is weighted accordingly by its Free Float Market Cap relative to the total Free Float Market Cap within its respective sector. Sectors are currently broken out as follows: Launch, Infrastructure, Telecom, & Satellite Imaging. The companies are then weighted by the number of companies in their sector divided by total number of companies in the index. A base index value is determined by taking the day-to-day change in closing stock price over the day-to-day average closing stock price. The overall company weight is then applied to its base to determine the individual impact of each company. The net impact is then applied to the previous day’s index value to achieve the newest index value. For comparison, the same methodology (base index value calculations only) was used to generate an index number for the S&P 500 and the DJIA.

The SpaceWorks NewSpace Index is updated on a quarterly basis to use the latest information provided by companies’ 10-K, 10-Q, & 8-K reports. Updates will also occur as more companies go public.

The SpaceWorks Traditional Space Index follows a similar but modified approach. Each company’s Free Float Market Cap is used to weigh the impact of each company, but given the diverse portfolio of products offered by each company, there are no sector breakouts for this index. Instead, each company is further weighted by the percentage of space and defense revenue compared to the company’s total revenue based on the most recent 10-K/Q reports.

Companies included in the TSI are as follows: Aerojet Rocketdyne, Boeing, General Dynamics, Honeywell International, Iridium Communications, Globalstar, L3Harris Technologies, Leidos, Lockheed Martin, Maxar Technologies, Northrop Grumman, Raytheon Technologies, and Viasat.