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Eve Holding
(NYSE:EVEX)
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Rating:50Neutral
Price Target:
$3.00
▲(31.00% Upside)
Action:Reiterated
Date:08/11/26
The score is held down primarily by weak financial performance (pre-revenue profile, large losses and persistent cash burn) and rising balance-sheet risk from higher debt and lower equity. This is partially offset by a more constructive near-term technical backdrop and a relatively positive earnings-call outlook emphasizing liquidity runway, backlog/LOIs, and program progress, though with meaningful schedule and burn-rate risk remaining.
Positive Factors
Embraer partnership & synergies
A formal industrial partnership with Embraer that targets $100–$150M of synergies supports lower upfront CapEx, access to proven manufacturing, engineering and certification capabilities, and faster industrialization. This structurally reduces build-out risk and improves scalable production economics over the medium term.
Negative Factors
Pre-revenue with large losses
The company remains pre-revenue with substantial trailing losses (~$214M TTM). Persistent negative operating cash flow and lack of commercialization mean value creation depends entirely on successful certification and delivery, keeping dilution and execution risk elevated over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Embraer partnership & synergies
A formal industrial partnership with Embraer that targets $100–$150M of synergies supports lower upfront CapEx, access to proven manufacturing, engineering and certification capabilities, and faster industrialization. This structurally reduces build-out risk and improves scalable production economics over the medium term.
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
$947.88M
Dividend YieldN/A
Average Volume (3M)1.10M
Price to Earnings (P/E)―
Beta (1Y)2.11
Revenue GrowthN/A
EPS Growth1.65%
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
$5.88Price Target Upside156.91% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.68
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:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call conveyed strong technical progress (partial transition flights, 150 test points validated, expanded test infrastructure) along with robust commercial indicators (2,700-aircraft backlog at $13.5B list price, new LOIs) and a solid liquidity position ($403M cash, $531M total liquidity) that management expects will fund operations through 2028. At the same time, the company faces typical development-stage drawbacks: a Q2 net loss ($34M), limited cumulative flight hours to date (2h46m), expected return to higher R&D spend (~$50M/quart), and schedule risk with ~30–40 flights remaining to full transition and certification milestones targeted for 2028. Management has identified $100–$150M of synergies with Embraer but most savings are expected to accrue in 2027–2028. Overall, positives around technical validation, backlog, partnerships and liquidity outweigh near-term financial and schedule risks.Positive Updates
Flight Test Progress and Milestones
Prototype completed 66 flights and logged 2 hours 46 minutes of airtime; entered a partial transition phase with the pusher engaged (up to ~1,200 RPM) achieving ~30 knots (~35 mph) forward speed; plan to ramp speed progressively to 60–90 knots to complete full transition. Team validated 150 test points and performed targeted ground tests (shaker vibration testing, powered-ground systems checks).
Negative Updates
Reported Net Loss
Net loss was $34 million in Q2 2026, reflecting ongoing development and operating expenses.
Read all updates
Q2-2026 Updates
Positive
Negative
Flight Test Progress and Milestones
Prototype completed 66 flights and logged 2 hours 46 minutes of airtime; entered a partial transition phase with the pusher engaged (up to ~1,200 RPM) achieving ~30 knots (~35 mph) forward speed; plan to ramp speed progressively to 60–90 knots to complete full transition. Team validated 150 test points and performed targeted ground tests (shaker vibration testing, powered-ground systems checks).
Read all positive updates
Company Guidance
Guidance highlights: Eve ended Q2 with $403M cash and $531M total liquidity (including $128M undrawn) and said this position supports operations through 2028; H1 cash burn was $118M, Q2 cash consumption $49M, and full‑year cash consumption guidance remains $225M–$275M (expected near the midpoint); Q2 R&D was $29M (down from ~ $55M prior) and is expected to normalize to ~ $50M/quarter, SG&A ≈ $8M, and net loss was $34M in Q2; the company is targeting $100M–$150M of synergies over the next three years (with <1/3 realized this year) and CapEx of roughly $20M in 2026, ~$50M in 2027 and $30–40M in 2028 (~$100M total) for modular production; flight program metrics include 66 prototype flights totaling 2h46m, 150 test points validated, 15,000+ hours of rig testing, deployment of a second Iron Bird, and ~30–40 flights to full transition (currently achieving 30 knots at ~1,200 RPM with planned increases to 60 then 80–90 knots); design freeze/CDR is targeted by year‑end, six conforming prototypes will be built in 2027 with the first crewed conforming flight H2‑2027 and ~12 months of testing toward type certification and entry into service in 2028; backlog is ~2,700 LOIs (~$13.5B list price, including two new LOIs for 46 aircraft) and TechCare/MRO opportunity cited at ~$1.4B.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 | -198.06M | -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
2.59
Positive
2.74
Positive
3.32
Negative
Market Momentum
0.07
Negative
57.32
Neutral
74.74
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 2.53, below the 50-day MA of 2.59, and below the 200-day MA of 3.32, indicating a neutral trend. The MACD of 0.07 indicates Negative momentum. The RSI at 57.32 is Neutral, neither overbought nor oversold. The STOCH value of 74.74 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% | |
58 Neutral | $4.84B | -6.45 | -40.86% | ― | ― | 15.37% | |
50 Neutral | $947.88M | -4.52 | -221.18% | ― | ― | 1.65% | |
46 Neutral | $500.27M | -0.93 | -88.50% | ― | -38.87% | 62.62% | |
46 Neutral | $427.91M | -4.49 | -31.15% | ― | 22.18% | 15.10% | |
44 Neutral | $8.35M | -0.01 | -9999.00% | ― | 32.36% | 98.37% | |
39 Underperform | $105.20M | -0.20 | 251.21% | ― | ― | ― |
* Industrials Sector Average
EVEX
Eve Holding
2.80
-1.82
-39.39%
SPCE
Virgin Galactic Holdings
3.14
0.15
5.02%
EH
Ehang Holdings
5.83
-12.06
-67.41%
EVTL
Vertical Aerospace
0.84
-4.21
-83.43%
ACHR
Archer Aviation
6.97
-2.85
-29.02%
KITT
Nauticus Robotics
1.03
-60.95
-98.34%
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.