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Eve Holding Inc. (EVEX)
:EVEX
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Eve Holding
(NYSE:EVEX)
Rating:43Neutral
Price Target:―
Positive Factors
Order Backlog
Eve's backlog is the best in the industry with 2,800 aircraft, representing 28 customers in 9 countries.
Prototype Development
Eve's first full-scale eVTOL prototype continues to progress through testing, a key catalyst for the stock.
Negative Factors
Capital Requirements
To fund its ongoing operating expenses and planned expansion, the company is likely to raise additional capital, part of which may be dilutive equity.
Financial Loss
Eve Air Mobility reported a net loss of $48.8M, significantly wider year-over-year, due to increased eVTOL aircraft development expenses.
Eve Holding (EVEX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.31B
Dividend YieldN/A
Average Volume (3M)170.92K
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue GrowthN/A
EPS Growth-2.94%
CountryUS
Employees174
SectorIndustrials
Sector Strength90
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-0.16
Shares Outstanding297,644,300
10 Day Avg. Volume206,326
30 Day Avg. Volume170,923
Financial Highlights & Ratios
PEG Ratio-4.10
Price to Book (P/B)9.32
Price to Sales (P/S)0.00
P/FCF Ratio-8.18
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue1.36K
Enterprise Value/Gross Profit-6.99K
Enterprise Value/Ebitda-2.37
Forecast
1Y Price Target
$6.00Price Target Upside36.36% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Eve Holding Business Overview & Revenue Model
Company DescriptionEve Holding, Inc. (EVEX) is a company focused on developing urban air mobility solutions. It operates within the aerospace sector, primarily engaging in the design and production of electric vertical takeoff and landing (eVTOL) aircraft. Eve aims to revolutionize urban transportation by offering innovative, sustainable, and efficient air mobility options to enhance connectivity and reduce congestion in urban environments.
How the Company Makes MoneyEve Holding makes money through the development and sale of its eVTOL aircraft. The company generates revenue by partnering with urban mobility service providers and city planners to integrate its aircraft into existing transportation networks. Additionally, Eve may engage in direct sales of its eVTOL units to commercial operators and potentially gain recurring revenue through maintenance services and software solutions that enhance the operation and efficiency of its aircraft. Strategic partnerships with aerospace industry leaders and technology companies also play a crucial role in supporting its growth and expanding its market reach.
Eve Holding Financial Statement Overview
Summary
Eve Holding's financial position is precarious with no revenue generation, increasing losses, and a significant reliance on debt and external financing. The balance sheet and cash flow challenges indicate financial instability and a need for strategic restructuring to achieve profitability and sustainable growth.Income Statement
Eve Holding has consistently reported zero revenue over the past six years, indicating a lack of operational income. The company is incurring losses, with a significant net loss of $138,168,000 in the latest year. This lack of revenue and continuous losses are major concerns for the income statement.10
Very Negative
Balance Sheet
The balance sheet shows a relatively high debt-to-equity ratio due to increased total debt. Stockholders' equity has decreased, and the equity ratio has declined over time. Although the company maintains a positive cash position, the rising liabilities and decreasing equity are potential risks.25
Negative
Cash Flow
Eve Holding's cash flow statement reveals negative operating and free cash flows, highlighting cash burn issues. Operating cash flow has worsened, reflecting ongoing operational challenges. Despite positive financing cash flows, the reliance on external funding raises sustainability concerns.20
Very Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Gross Profit |
| 0.00 | -100.00K | -33.49K | -107.93K | 0.00 | EBIT |
| 0.00 | -128.69M | 16.05M | -15.79M | -9.59M | EBITDA |
| -133.80M | -125.74M | -173.06M | -18.15M | -16.66M | Net Income Common Stockholders |
| -138.17M | -127.66M | -174.03M | -15.96M | -9.66M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 303.38M | 158.10M | 227.93M | 14.38M | 1.97M | Total Assets |
| 318.24M | 245.34M | 312.88M | 15.32M | 72.99K | Total Debt |
| 132.01M | 25.76M | 0.00 | 0.00 | 0.00 | Net Debt |
| 75.64M | -21.12M | -49.15M | -14.38M | -1.97M | Total Liabilities |
| 194.32M | 80.29M | 25.95M | 2.23M | 1.09M | Stockholders Equity |
| 123.92M | 165.05M | 286.92M | 13.09M | -1.01M |
| Cash Flow | Free Cash Flow | |||
| -141.18M | -94.68M | -59.93M | -14.89M | -9.03M | Operating Cash Flow |
| -135.97M | -94.51M | -59.46M | -14.89M | -9.03M | Investing Cash Flow |
| -56.22M | 66.83M | -258.48M | -4.60M | -232.30M | Financing Cash Flow |
| 203.02M | 24.93M | 352.70M | 29.26M | 9.03M |
Eve Holding Technical Analysis
Positive
4.40
Price Trends
3.69
Positive
4.15
Positive
3.74
Positive
Market Momentum
0.24
Negative
59.04
Neutral
54.98
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 4.4 is above the 20-day moving average (MA) of 3.99, above the 50-day MA of 3.69, and above the 200-day MA of 3.74, indicating a bullish trend. The MACD of 0.24 indicates Negative momentum. The RSI at 59.04 is Neutral, neither overbought nor oversold. The STOCH value of 54.98 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 13 risk factors in its most recent earnings report. Eve Holding reported the most risks in the “Ability to Sell” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
to our Business and Industry Q4, 2024
2.
Summary of Risk Factors Q4, 2024
3.
Risks Related Q4, 2024
Eve Holding 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 | $4.39B | 11.81 | 5.17% | 249.38% | 3.98% | -12.17% | |
52 Neutral | $1.25B | ― | -39.62% | ― | 285.43% | 32.57% | |
49 Neutral | $5.82B | ― | -73.89% | ― | ― | 17.43% | |
48 Neutral | $823.32M | ― | -42.87% | ― | 102.32% | 13.67% | |
48 Neutral | $167.55M | ― | -95.46% | ― | -34.33% | 52.30% | |
43 Neutral | $1.31B | ― | -148.98% | ― | ― | -2.94% | |
25 Underperform | $472.08M | ― | 115.25% | ― | ― | 23.26% |
* Industrials Sector Average
Performance Comparison
EVEX
Eve Holding
4.40
-1.38
-23.88%
SPCE
Virgin Galactic Holdings
3.68
-13.45
-78.52%
EH
Ehang Holdings
17.34
1.32
8.24%
EVTL
Vertical Aerospace
5.44
-1.67
-23.49%
SKYH
Sky Harbour Group
10.85
-1.75
-13.89%
ACHR
Archer Aviation
10.60
7.30
221.21%
Eve Holding Earnings Call Summary
Earnings Call Date:May 12, 2025
(Q1-2025)
| % Change Since: 13.40%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a steady progress in prototype development and supplier engagement, with a strong preorder backlog and service contracts indicating future revenue potential. However, increased R&D spending and challenges with some preorder customers present areas of concern.Q1-2025 Updates
Positive Updates
Full Scale Prototype Progress
Eve's full-scale engineering prototype is undergoing several successful ground tests, preparing for its debut flight later this year. The prototype is being used to validate and improve previous models and set up rigs for different components.
Supplier Engagement and Component Readiness
There is significant progress with suppliers, who are producing parts for the series of five conforming prototypes. Components like the nose fuselage, lightning system, actuators, seats, and windshield are ready, with assembly expected to begin in the second half of 2025.
Preorder Backlog and Service Contracts
Eve's total preorder backlog remains at approximately 2,800 aircraft valued close to $14 billion. Additionally, Eve has secured contracts for its TechCare suite, potentially bringing in $1.6 billion in revenue, with 40% of the preorder book opting for these services.
Strong Liquidity Position
Eve ended the quarter with $288 million in cash and a total liquidity of $411 million, sufficient to sustain operations through 2026. The company is on track with its financial discipline and development efforts.
Negative Updates
Increased R&D Spending
R&D expenses reached $45 million in the first quarter, reflecting higher engagement with engineers and suppliers, leading to a net loss of $49 million for the quarter.
Order Book Challenges
While the preorder backlog is strong, some customers have changed strategies or gone bankrupt, affecting some of the non-binding letters of intent.
Company Guidance
During the Eve Holding, Inc. First Quarter 2025 Earnings Conference Call, several key metrics and guidance were highlighted. The company reported a total preorder backlog of approximately 2,800 eVTOL aircraft, valued at close to $14 billion based on list prices. They also secured contracts for their EVE TechCare suite with 14 different customers, potentially bringing up to $1.6 billion in revenue, and have 21 customers for their air traffic management system, Vector. In financial terms, the company posted a net loss of $49 million for the quarter, with R&D expenses amounting to $45 million and SG&A expenses at $8 million. Their operations consumed $25 million in cash, closing the quarter with $288 million in cash and a total liquidity of $411 million, which is expected to sustain operations through 2026. The company plans to manage cash consumption closely, expecting to remain at the lower end of their $200 million to $250 million annual cash consumption guidance. They aim to start assembling the first of their five conforming prototypes in the second half of 2025, with the potential to initiate certification campaign flights in early 2026.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.