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Eve Holding
(NYSE:EVEX)
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Rating:46Neutral
Price Target:
$2.50
▲(9.17% Upside)
Action:Reiterated
Date:08/04/26
EVEX’s score is held down primarily by weak financial performance (pre-revenue, large losses, heavy cash burn, and sharply higher leverage with compressed equity). Technicals also point to a broader downtrend with negative momentum. Offsetting this somewhat, the latest earnings call highlighted strong liquidity runway and tangible flight-test/regulatory progress, but certification timing and limited binding orders keep risk high.
Positive Factors
Flight-test & regulatory progress
Substantive flight-test validation and Autoland confirmation materially reduce technical and certification uncertainty. Validated models and performance points provide regulators with demonstrable data, strengthening the company's ability to meet certification means and supporting longer-term commercialization prospects.
Negative Factors
Pre-revenue, heavy cash burn
Persistent large operating losses and negative free cash flow without any reported product revenue create sustained funding dependence. Over multiple quarters this raises dilution and refinancing risk, constrains strategic optionality and forces management to convert technical progress into paying customers to reach sustainable cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Flight-test & regulatory progress
Substantive flight-test validation and Autoland confirmation materially reduce technical and certification uncertainty. Validated models and performance points provide regulators with demonstrable data, strengthening the company's ability to meet certification means and supporting longer-term commercialization prospects.
Read all positive factors
Eve Holding Key Performance Indicators (KPIs)
Any
Research & Development Expenses by Segment
Tracks how much the company spends on R&D in each business unit or program, revealing where management is allocating resources and which areas are being developed. Highlights strategic priorities, the pace of pipeline investment, and cash burn tied to future products. Large or rising R&D spend in a segment can signal growth potential but also raises financing and execution risk unless matched by clear progress on milestones or eventual revenue.
Tracks how much the company spends on R&D in each business unit or program, revealing where management is allocating resources and which areas are being developed. Highlights strategic priorities, the pace of pipeline investment, and cash burn tied to future products. Large or rising R&D spend in a segment can signal growth potential but also raises financing and execution risk unless matched by clear progress on milestones or eventual revenue.
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The Fly
The FlyEve Holding (EVEX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$961.82M
Dividend YieldN/A
Average Volume (3M)1.10M
Price to Earnings (P/E)―
Beta (1Y)2.12
Revenue GrowthN/A
EPS Growth-33.98%
CountryUS
Employees198
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-0.62
Shares Outstanding348,486,330
10 Day Avg. Volume1,080,326
30 Day Avg. Volume1,101,652
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)10.36
Price to Sales (P/S)0.00
P/FCF Ratio-7.32
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$5.86Price Target Upside155.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.69
Revenue Forecast (FY)N/A
Eve Holding Business Overview & Revenue Model
Company Description
Eve Holding, Inc. specializes in pioneering urban air mobility initiatives. The firm is actively engaged in crafting and producing electric Vertical Take-off and Landing (eVTOL) vehicles. Beyond manufacturing, Eve also furnishes a complete array o...
How the Company Makes Money
Eve Holding’s business model is centered on commercializing an eVTOL aircraft platform and capturing recurring revenue from services that support eVTOL operations. The primary intended revenue streams are: (1) Aircraft sales: revenue from selling ...
Eve Holding Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call emphasized strong technical progress and meaningful regulatory engagement (flight test milestones, validated models, Autoland, positive motor/battery performance), a robust preorder backlog and record liquidity that supports operations through 2028. Key challenges include ongoing net losses and cash burn, certification timing that delays revenue until ~2028, limited binding orders relative to backlog, and remaining supplier/integration and compliance risks. Management also identified actionable synergies with Embraer ($100–$150M over three years) that should help reduce cash consumption.Positive Updates
Significant Flight-Test Progress
Engineering prototype completed 59 flights, logged nearly 2.5 hours of flight time, validated 130 distinct performance points, reached 215 ft altitude and 30 knots forward speed, introduced complex on‑air maneuvers and fully validated Autoland and consistent 4‑axis control behavior.
Negative Updates
Ongoing Net Loss and Quarterly Cash Consumption
First quarter net loss of $69 million; reported cash consumption of $69 million in Q1 (or $57 million excluding a ~$11 million invoice timing effect), and 2026 cash burn guidance remains $225–$275 million before expected synergies.
Read all updates
Q1-2026 Updates
Positive
Negative
Significant Flight-Test Progress
Engineering prototype completed 59 flights, logged nearly 2.5 hours of flight time, validated 130 distinct performance points, reached 215 ft altitude and 30 knots forward speed, introduced complex on‑air maneuvers and fully validated Autoland and consistent 4‑axis control behavior.
Read all positive updates
Company Guidance
Eve reiterated financial and operational guidance: management expects 2026 cash burn of $225–$275 million (pre‑synergies) while ending Q1 with a record $441 million in cash and $578 million total liquidity (including ~$136 million undrawn BNDES credit and a new $150 million five‑year loan), which they say should support operations through 2028; they target $100–$150 million of incremental Embraer synergies to be captured from 2026–2028 that would reduce cash usage. Q1 results showed $59 million of R&D, $7 million SG&A, a $69 million net loss and $69 million cash consumption in the quarter (or $57 million excluding an ~$11 million timing item). Flight‑test guidance calls for roughly 300 engineering‑prototype flights (59 completed so far, ~2.5 hours logged, 130 validated performance points, max 215 ft altitude and 30 kt forward speed achieved), software and structural ground work in Q2, initiation of transition testing with progressive speeds toward full transition >85 kt (targeting first conforming prototype assembly/first flights in 2026–mid‑2027), 12 months of conforming‑prototype flights prior to certification and a more likely entry‑into‑service in 2028. Commercially, backlog stands at ~2,700 aircraft (~$13.5 billion list) across 27 customers, two binding orders (including Revo ~50 firm) and about $500 million currently under binding agreements, with down payments/PDPs expected up to ~30–40% of aircraft value prior to delivery.Eve Holding Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -198.97M | -212.18M | -133.75M | -125.66M | -173.07M | -18.15M |
| Net Income | -213.83M | -224.25M | -138.17M | -127.66M | -174.03M | -18.26M |
Balance Sheet | ||||||
| Total Assets | 457.73M | 434.88M | 318.24M | 245.34M | 312.88M | 21.57M |
| Cash, Cash Equivalents and Short-Term Investments | 394.69M | 384.08M | 303.38M | 158.10M | 227.93M | 14.38M |
| Total Debt | 308.88M | 179.79M | 132.01M | 25.76M | 0.00 | 0.00 |
| Total Liabilities | 434.90M | 311.12M | 194.32M | 80.29M | 25.95M | 10.87M |
| Stockholders Equity | 22.83M | 123.76M | 123.92M | 165.05M | 286.92M | 10.70M |
Cash Flow | ||||||
| Free Cash Flow | -209.90M | -175.17M | -141.18M | -94.68M | -59.93M | -14.89M |
| Operating Cash Flow | -195.24M | -160.43M | -135.97M | -94.51M | -59.46M | -14.89M |
| Investing Cash Flow | -153.69M | -46.73M | -56.22M | 66.83M | -258.48M | 0.00 |
| Financing Cash Flow | 368.80M | 263.12M | 203.02M | 24.93M | 352.70M | 29.26M |
Eve Holding Technical Analysis
Positive
2.29
Price Trends
2.64
Positive
2.72
Positive
3.35
Negative
Market Momentum
0.02
Negative
57.65
Neutral
68.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EVEX, the sentiment is Positive. The current price of 2.29 is below the 20-day moving average (MA) of 2.43, below the 50-day MA of 2.64, and below the 200-day MA of 3.35, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 57.65 is Neutral, neither overbought nor oversold. The STOCH value of 68.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EVEX.
Eve Holding Risk Analysis
Eve Holding disclosed 79 risk factors in its most recent earnings report. Eve Holding 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
Eve Holding Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
50 Neutral | $4.25B | -5.08 | -38.99% | ― | ― | 11.41% | |
46 Neutral | $961.82M | -4.45 | -221.18% | ― | ― | -33.98% | |
46 Neutral | $415.48M | -0.71 | -105.02% | ― | -76.23% | 63.55% | |
46 Neutral | $430.91M | -5.16 | -31.15% | ― | 22.18% | 15.10% | |
44 Neutral | $7.39M | -0.01 | -9999.00% | ― | 249.33% | 97.72% | |
39 Underperform | $173.17M | -0.33 | 251.21% | ― | ― | ― |
* Industrials Sector Average
EVEX
Eve Holding
2.76
-3.24
-54.00%
SPCE
Virgin Galactic Holdings
3.10
0.13
4.38%
EH
Ehang Holdings
5.74
-11.92
-67.50%
EVTL
Vertical Aerospace
1.36
-3.84
-73.85%
ACHR
Archer Aviation
5.59
-3.95
-41.40%
KITT
Nauticus Robotics
1.08
-66.36
-98.40%
Eve Holding Corporate Events
Executive/Board ChangesShareholder Meetings
Eve Holding Shareholders Approve Directors, Auditor and Compensation
Positive
May 22, 2026
On May 21, 2026, Eve Holding, Inc. held its 2026 Annual Meeting of Stockholders, at which shareholders elected two Class I directors, Sergio Pedreiro and Uallace Moreira Lima, to three-year terms expiring at the 2029 annual meeting. Stockholders a...
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.