Ehang Holdings (EH) AI Stock Analysis

• Market Cap: $1.34B
• Dividend Yield: N/A
• Average Volume (3M): 1.86M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.74
• Revenue Growth: 87.67%
• EPS Growth: 18.33%
• Country: US
• Employees: 483
• Sector: Industrials
• Sector Strength: 72
• Industry: Aerospace & Defense
• EPS (TTM): -0.08
• Shares Outstanding: 52,471,577
• 10 Day Avg. Volume: 1,570,857
• 30 Day Avg. Volume: 1,855,310
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.86
• Enterprise Value/Revenue: 2.73
• Enterprise Value/Gross Profit: 4.44
• Enterprise Value/Ebitda: -4.72
• 1Y Price Target: $24.90
• Price Target Upside: 33.94% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 56 Neutral
• Price Target: $19.00 ▲(2.21% Upside)

Ehang Holdings' overall score is driven by strong technical momentum and positive earnings call highlights. However, financial performance and valuation concerns, including ongoing losses and cash flow issues, weigh on the score.

Positive Factors

Revenue Growth

The significant revenue growth indicates strong market demand and successful product adoption, supporting long-term business expansion and market penetration.

Strategic Partnerships

These partnerships enhance EHang's supply chain, R&D, and application in low-altitude economy, strengthening its competitive position and innovation capabilities.

Financial Stability

Strong cash reserves provide a solid financial foundation, enabling continued investment in growth initiatives and cushioning against potential market fluctuations.

Negative Factors

Profitability Challenges

Ongoing unprofitability and negative margins highlight operational challenges, potentially hindering sustainable growth and long-term financial health.

Cash Flow Difficulties

Negative cash flows indicate liquidity constraints, limiting the company's ability to fund operations and invest in growth without external financing.

International Sales Conversion

Limited international sales conversion suggests difficulties in expanding globally, potentially restricting market diversification and growth opportunities.

Ehang Holdings Business Overview & Revenue Model

Company Description

EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions. The company was incorporated in 2014 and is headquartered in Guangzhou, the People's Republic of China.

How the Company Makes Money

Ehang 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 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.

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.

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.

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

• Technical Analysis Sentiment: Positive
• Last Price: 18.59
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EH, the sentiment is Positive. The current price of 18.59 is above the 20-day moving average (MA) of 16.74, above the 50-day MA of 17.49, and above the 200-day MA of 17.97, indicating a bullish trend. The MACD of 0.28 indicates Negative momentum. The RSI at 64.00 is Neutral, neither overbought nor oversold. The STOCH value of 78.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EH.

Ehang Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EH	56 Neutral	$1.34B	―	-30.69%	―	87.67%	18.33%
RKLB	55 Neutral	23.56B	-101.92	-33.60%	―	54.36%	-26.35%
SPCE	49 Neutral	215.39M	-0.38	-114.94%	―	-84.19%	55.27%
ACHR	49 Neutral	6.26B	-7.30	―	―	―	-4.00%
EVEX	43 Neutral	1.22B	-6.30	―	―	―	-30.78%
EVTL	25 Underperform	576.39M	-0.50	―	―	―	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Ehang Holdings Corporate Events

EHang Reports Strong Q2 2025 Results and Expands Operations

On August 26, 2025, EHang Holdings Limited announced its unaudited financial results for the second quarter of 2025, reporting a significant revenue increase of 44.2% year-over-year and 464.0% quarter-over-quarter, reaching RMB147.2 million. The company maintained a high gross margin of 62.6% and strengthened its liquidity position with US$23.8 million from an equity offering. EHang also launched trial commercial operations of its EH216-S aircraft in Guangzhou and Hefei, expanded its technology partnerships, and established a product hub in Hefei for its next-generation VT35 series. These developments are expected to enhance EHang’s industry positioning and accelerate growth in the global UAM sector.