SKYD’s 7.6% Slide: Weak Cash and Earnings Keep Me Out

I view the −7.59% move to $8.04 as understandable rather than an obvious overreaction, and it does not change my cautious view. The latest quarter generated just $31M of free cash flow on $7,025M revenue, with a thin 1.0% net margin; debt/equity of 1.34 offers little balance-sheet comfort. Estimates also point to a −$0.237 Q4 2026 EPS and only $0.036 for 2027, implying a 222.7x forward P/E. The median target of $9.00 suggests 11.9% upside, but analyst consensus is Hold and the range is wide. Shares are already down 47.3% over 12 months, yet a lower price alone cannot repair weak cash generation and earnings visibility. I have no position and will stay out pending stronger evidence of durable cash flow.