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Ehang Holdings (EH)
NASDAQ:EH
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Ehang Holdings
(NASDAQ:EH)
Rating:47Neutral
Price Target:
$16.00
▲(1.07% Upside)
Positive Factors
Financial Performance
EHang's gross profit margin improved slightly, reaching 62.4%, driven by the higher selling price of its EH216 series products.
Industry Development
Analyst expects Ehang to benefit significantly from the rapid development of the eVTOL aircraft industry in China.
Market Position
EHang is expected to sustain its leadership in China’s eVTOL aircraft market due to its advanced technology and licensure head start.
Negative Factors
Financial Challenges
The 1Q25 non-GAAP net loss was worse than estimated, highlighting financial challenges for the company.
Regulatory Risks
Downside risks include slower-than-expected regulation relaxation in China and the risk of aircraft mechanical failure.
Revenue Guidance
Management lowered its full year revenue guidance from RMB900mn to RMB500mn, as it prioritizes on helping its existing clients to ensure safe flight and successful commercialization instead of quickly ramping up eVTOL delivery.
Ehang Holdings (EH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.14B
Dividend YieldN/A
Average Volume (3M)1.63M
Price to Earnings (P/E)―
Beta (1Y)1.74
Revenue Growth87.67%
EPS Growth18.33%
CountryUS
Employees483
SectorIndustrials
Sector Strength80
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-0.08
Shares Outstanding52,471,577
10 Day Avg. Volume2,763,094
30 Day Avg. Volume1,625,365
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap1.01
Enterprise Value/Revenue2.73
Enterprise Value/Gross Profit4.44
Enterprise Value/Ebitda-4.72
Forecast
1Y Price Target
$24.90Price Target Upside57.30% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Ehang Holdings Business Overview & Revenue Model
Company DescriptionEhang Holdings (EH) is a Chinese company operating in the autonomous aerial vehicle (AAV) sector. It specializes in the research, development, and production of passenger and logistics autonomous aerial vehicles. Its core products include the EHang 216, an autonomous passenger drone, and various logistics drones designed for urban and rural air mobility, freight delivery, and smart city management. The company aims to revolutionize the way people and goods move by leveraging cutting-edge autonomous flight technology.
How the Company Makes MoneyEhang Holdings primarily generates revenue through the sale of its autonomous aerial vehicles, including passenger and logistics drones. The company offers its AAVs to a range of sectors, including transportation, logistics, and emergency services, providing both direct sales and leasing options. Additionally, Ehang may generate revenue through partnerships with urban air mobility providers and infrastructure developers, as well as through service agreements for the maintenance and operation of its vehicles. The company's strategic collaborations with various industry and government entities also play a crucial role in promoting the integration of its AAVs into existing transportation ecosystems, thus contributing to its earnings.
Ehang Holdings Earnings Call Summary
Earnings Call Date:Aug 26, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 28, 2025
Earnings Call Sentiment Neutral
EHang Holdings Limited demonstrated strong revenue growth and operational expansions, supported by robust order intake and strategic partnerships. However, the company adjusted its revenue guidance to prioritize safety and sustainable growth, with increased operating expenses and limited international order conversion posing challenges.Q2-2025 Updates
Positive Updates
Strong Revenue Growth
EHang Holdings Limited reported total revenues of RMB147 million in Q2 2025, representing a 44.2% year-over-year growth and a 4.6 times rebound from the previous quarter.
Robust Order Book
The company received new orders for over 150 units of the EH216 series, demonstrating strong market demand and confidence in their products.
Operational Expansions
EHang Holdings Limited expanded its operations globally, including demo flights in Mexico, Indonesia, and The Dominican Republic, and signed strategic MOUs with partners in Europe and Latin America.
Partnerships and Collaborations
The company entered strategic partnerships with Mint Group, China Mobile, and China Unicom, among others, to enhance their supply chain, R&D, and low-altitude economy applications.
Financial Stability and Cash Reserves
EHang Holdings Limited raised over $23 million through an at-the-market offering and holds RMB1.2 billion in cash and cash equivalents, providing a strong financial foundation for future growth.
Negative Updates
Adjusted Revenue Guidance
EHang Holdings Limited revised its full-year 2025 revenue guidance to RMB500 million, reflecting modest growth due to a strategic focus on safety and sustainable operations rather than rapid short-term expansion.
Increased Operating Expenses
Total operating expenses in Q2 were RMB173 million, representing increases on both a year-over-year and quarter-over-quarter basis due to business expansion and increased R&D investment.
Limited International Order Conversion
Although there is increasing demand from overseas markets, 90% of the sales in Q2 were with domestic clients, indicating challenges in converting international interest into sales.
Company Guidance
During EHang Holdings Limited's Second Quarter 2025 Earnings Conference Call, the company reported strong performance metrics, including the delivery of 68 units of the EH216 series, generating total revenues of RMB147 million. This marked a 44.2% year-over-year growth and a 4.6 times rebound from the previous quarter. The order book reflected continued market interest with over 150 new orders for the EH216 series. The company adjusted its full-year revenue guidance to approximately RMB500 million, emphasizing a strategic focus on operational safety and sustainable growth. EHang highlighted its commitment to expanding the eVTOL ecosystem through strategic partnerships, R&D investments, and international market penetration, particularly in Southeast Asia, Latin America, and the Middle East. The company also noted advancements in battery technology, including the integration of solid-state batteries to improve flight duration.Ehang Holdings Financial Statement Overview
Summary
Ehang Holdings shows revenue growth but struggles with profitability and cash flow. The balance sheet is stable with low leverage, yet efficiency and liquidity issues persist, necessitating improvements in operational efficiency and cash flow generation.Income Statement
Ehang Holdings demonstrates a volatile revenue trend with a recent significant increase in revenue from 2023 to 2024. However, the company remains unprofitable, with negative net profit and EBIT margins, indicating ongoing operational challenges. Despite increased gross profit, the consistent net losses reflect difficulties in controlling operating expenses.45
Neutral
Balance Sheet
The balance sheet shows a relatively low debt-to-equity ratio, indicating conservative leverage. The equity ratio is moderate, suggesting a balanced capital structure. However, the substantial accumulated losses affect the return on equity negatively, highlighting efficiency challenges in utilizing shareholder funds.50
Neutral
Cash Flow
Ehang Holdings faces cash flow difficulties with negative free and operating cash flows, reflecting operational challenges. The lack of positive cash flow growth and low free cash flow to net income ratio suggest liquidity constraints and limited operational cash generation capabilities.30
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 420.52M | 456.15M | 117.43M | 44.32M | 56.81M | 180.09M |
| Gross Profit | 258.05M | 279.95M | 75.31M | 29.22M | 36.03M | 106.18M |
| EBITDA | -243.22M | -240.16M | -264.26M | -304.74M | -312.76M | -85.10M |
| Net Income | -244.53M | -229.78M | -301.70M | -329.53M | -313.62M | -92.28M |
Balance Sheet | ||||||
| Total Assets | 1.60B | 1.58B | 598.64M | 530.87M | 535.43M | 484.55M |
| Cash, Cash Equivalents and Short-Term Investments | 1.08B | 1.12B | 300.14M | 249.31M | 311.97M | 187.11M |
| Total Debt | 305.60M | 233.50M | 163.55M | 200.06M | 30.00M | 15.00M |
| Total Liabilities | 678.26M | 628.68M | 384.43M | 406.19M | 201.39M | 206.85M |
| Stockholders Equity | 922.62M | 955.64M | 213.79M | 124.26M | 332.60M | 276.32M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 117.88M | -97.50M | -187.28M | -137.32M | -162.78M |
| Operating Cash Flow | 0.00 | 157.96M | -88.41M | -173.46M | -121.63M | -153.70M |
| Investing Cash Flow | 0.00 | -482.51M | -128.69M | 56.40M | -33.40M | -66.21M |
| Financing Cash Flow | 0.00 | 701.36M | 195.48M | 106.74M | 266.95M | 44.68M |
Ehang Holdings Technical Analysis
Negative
15.83
Price Trends
17.57
Negative
17.23
Negative
17.84
Negative
Market Momentum
-0.48
Positive
34.31
Neutral
10.52
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EH, the sentiment is Negative. The current price of 15.83 is below the 20-day moving average (MA) of 17.25, below the 50-day MA of 17.57, and below the 200-day MA of 17.84, indicating a bearish trend. The MACD of -0.48 indicates Positive momentum. The RSI at 34.31 is Neutral, neither overbought nor oversold. The STOCH value of 10.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EH.
Ehang Holdings Risk Analysis
Ehang Holdings disclosed 97 risk factors in its most recent earnings report. Ehang Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ehang Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $10.74B | 15.62 | 8.16% | 2.00% | 2.79% | -14.82% | |
49 Neutral | $5.77B | ― | -60.83% | ― | ― | -4.00% | |
47 Neutral | $1.14B | ― | -30.69% | ― | 87.67% | 18.33% | |
47 Neutral | $179.11M | ― | -91.98% | ― | -84.19% | 55.27% | |
43 Neutral | $1.18B | ― | -320.52% | ― | ― | -30.78% | |
40 Underperform | $1.28B | ― | -45.35% | ― | -10.50% | -230.68% | |
25 Underperform | $469.85M | ― | 115.25% | ― | ― | ― |
* Industrials Sector Average
Performance Comparison
EH
Ehang Holdings
15.58
1.94
14.22%
SPCE
Virgin Galactic Holdings
3.09
-3.07
-49.84%
EVTL
Vertical Aerospace
4.85
-3.34
-40.78%
EVEX
Eve Holding
3.99
1.24
45.09%
ACHR
Archer Aviation
8.60
5.22
154.44%
RDW
Redwire
8.92
2.58
40.69%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.