Company Analysis

Intuitive Machines, Inc. (LUNR)

Nasdaq: LUNR · Search, Detection, Navigation, Guidance, Aeronautical Sys · Houston, TX · filing with the SEC since 2021
Grade3.2
◀ Past 2.4● Present 3.1▶ Future 4.1
2 est.

The grade of Intuitive Machines, Inc.

Nine metrics read from its own filings, by tense
Headline grade
3.2/10
◀ Past2.430% of the headline
● Present3.140% of the headline
▶ Future4.130% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

2.4/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
2.0/10

Has it survived what it has been through?

4 warning events since 2021; the latest 2024-11-15.

weight 33% of this tense · 20th percentile among 10 sector filers · read for itself

From the record

Intuitive Machines, Inc.'s filings since 2021 show 4 warning events of 2 kinds: an auditor change (8-K item 4.01, 2 times, the latest 2023-02-15); a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2024-11-15) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
3.6/10

What has it actually done, year after year?

+34.1% a year over 4 filed years; profitable in 1 of 4.

weight 45% of this tense · 36th percentile among 9 sector filers · read for its customers

From the record

Intuitive Machines, Inc.'s 4 filed years say what it did: revenue went from $86 million in fiscal 2022 to $207 million in fiscal 2025, up 34.1% a year; it rose in 1 of 3 years; the deepest fall was 9% from fiscal 2024 to fiscal 2025; net income was positive in 1 of 4 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span34.1%top 19% of its family
  • the share of years revenue rosebottom 6% of its family
  • the share of filed years with a profitbottom 17% of its family
  • the deepest fall from a revenue peak9.2%bottom 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
0.6/10

How has it treated the people who own it?

SI estimate 0.6/10, confidence 35 of 100 (one part).

weight 22% of this tense · 6th percentile among 9 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 6% of 9 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 9 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Intuitive Machines, Inc.'s shareholder treatment is put at 0.6 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 6% of 9 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.1/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
1.1/10

Is it financially healthy right now?

Leverage 200%: owes 200¢ per asset dollar.

weight 45% of this tense · 11th percentile among 9 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Intuitive Machines, Inc.'s shareholders' equity was below zero, so the profit on it is not read. Leverage: it owed about 200 cents per dollar of assets, and net share issuance: its share count grew 88.0% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 6% of its family
  • the share count against the year beforebottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
4.7/10

How strong is its position in its industry?

bottom 47% of 9 in its family; net margin -40.2%.

weight 33% of this tense · 47th percentile among 9 sector filers · read for its customers

From the record

Intuitive Machines, Inc.'s standing among 9 graded names in its industry family: revenue of $207 million in fiscal 2025 ranks in the bottom 39% by size; a net margin of -40.2% ranks in the bottom 6%; revenue growth of 34.1% a year over the last 3 filed years ranks in the top 6% (its annual reports).

What it rests on

  • revenue against the family$207Mbottom 39% of its family
  • net margin-40.2%bottom 6% of its family
  • three-year revenue growth34.1%top 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 35 of 100 (one part).

weight 22% of this tense · 50th percentile among 9 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 50% of 9 in its family; the record of its people begins on 2023-02-13 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 3.7 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read
The record of its people begins on 2023-02-13 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 3.7 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 9 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Intuitive Machines, Inc.'s leadership is put at 5.0 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 50% of 9 in its family; the record of its people begins on 2023-02-13 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 3.7 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.1/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.5/10

How much room does it have to grow?

bottom 45% of 8 in its family for room to expand.

weight 45% of this tense · 45th percentile among 8 sector filers · read for itself

From the record

Intuitive Machines, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $583 million against debt of $335 million leaves 32.7% of its assets as net cash, top 28% of its family; cash from operations less capital spending is -27% of revenue (bottom 19%) (its annual report).

What it rests on

  • cash less debt against assets32.7%top 28% of its family
  • cash from operations less capital spending against revenue-27.0%bottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
6.0/10

What could actually drive growth from here?

top 41% of 9 in its family for growth drivers.

weight 33% of this tense · 59th percentile among 9 sector filers · read for its customers

From the record

Intuitive Machines, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 34.1% a year over the last three filed years against 34.1% over all 4, speeding up (top 44% of its family); the newest year grew -9.2% (bottom 28%); capital spending grew 36.4% a year (top 6%) (its annual reports). Intuitive Machines, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+0.0 points a yeartop 44% of its family
  • the newest year's revenue growth-9.2%bottom 28% of its family
  • three-year growth of capital spending36.4%top 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
0.6/10

Did its newest year beat what its own record pointed to?

bottom 6% of 8 in its family for expectations against reality.

weight 22% of this tense · 6th percentile among 8 sector filers · read for its shareholders

From the record

Intuitive Machines, Inc.'s newest year against its own record: revenue of $207 million in fiscal 2025 came in 44.2% below the $371 million its prior three years' pace pointed to (bottom 6% of its family); net income of $83 million against a prior three-year average of $74 million (bottom 6%); a net margin of -40.2% against -15.6% before (bottom 6%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-44.2%bottom 6% of its family
  • net income against the prior three years' average-13%bottom 6% of its family
  • net margin against its prior average-24.6 pointsbottom 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton LUNR · research, not advice