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Eve Holding (EVEX)
NYSE:EVEX
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Eve Holding
(NYSE:EVEX)
Rating:43Neutral
Price Target:―
Positive Factors
Order and Sales
The company has secured a firm order from Revo for 10 units and 40 options, with an undisclosed PDP deposit for production slots.
Product Demand
A ~2.8k aircraft backlog, worth collectively ~$14bn, indicates significant demand for Eve's products.
Strategic Partnerships
Eve has an advantage in terms of resources and attention due to its strong relationship with Embraer and no other certification applicants in Brazil.
Negative Factors
Capital Raising
The company is likely to raise additional capital, which is expected to include dilutive equity.
Financial Performance
Eve Air Mobility reported a Q2/25 net loss of ($64.7M), ~78% wider y/y due to increased operating expenses.
Flight Testing Delays
Flight testing of the Eve-100 has been delayed relative to expectations, making late 2027 more likely for certification.
Eve Holding (EVEX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.78B
Dividend YieldN/A
Average Volume (3M)472.73K
Price to Earnings (P/E)―
Beta (1Y)1.36
Revenue GrowthN/A
EPS Growth-30.78%
CountryUS
Employees174
SectorIndustrials
Sector Strength83
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-0.21
Shares Outstanding300,848,900
10 Day Avg. Volume416,411
30 Day Avg. Volume472,725
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 Cap1.12
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-11.47K
Enterprise Value/Ebitda-10.90
Forecast
1Y Price Target
$7.40Price Target Upside67.42% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
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 Earnings Call Summary
Earnings Call Date:Aug 06, 2025
(Q2-2025)
| % Change Since: -34.03%|
Next Earnings Date:Nov 11, 2025
Earnings Call Sentiment Positive
The call reflects strong progress in strategic partnerships, order backlog growth, and financial stability, despite increased expenses and delayed prototype flights. The positive developments and strong liquidity position outweigh the challenges.Q2-2025 Updates
Positive Updates
First Firm Order and Additional LOIs
Eve announced their first firm order from Revo for 50 aircraft and services, with a total potential value of $250 million. They also signed additional LOIs, bringing their total preorder backlog to approximately 2,800 aircraft, valued close to $14 billion.
Paris Air Show Unveiling
Eve unveiled their full-scale mockup with a new propeller configuration at the Paris Air Show in June, receiving positive reception from customers and stakeholders.
Partnership with Beta Company
Eve announced a partnership with Beta Company to complement their suppliers list, providing flexibility and optionality in their program with a proven distributed propulsion solution.
Strong Financial Position
Eve ended the second quarter with $242 million in cash and a total liquidity of $375 million, deemed sufficient to sustain operations through 2026.
Advancements in eVTOL Development
Progress made on the full-scale engineering prototype, with upcoming initial flights expected in the next few months and a new rotor configuration aimed at reducing vibration and noise.
Negative Updates
Increased Expenses and Net Loss
Eve reported a net loss of $64 million in the second quarter due to increased R&D expenses and SG&A, with cash consumption almost doubling from the first quarter.
Delayed Prototype Flight
The first flight of the engineering prototype has been delayed to later in the year, with the certification schedule remaining unchanged for 2027.
Company Guidance
In the second quarter of 2025, Eve Air Mobility made significant strides towards its program development and financial targets. The company unveiled a full-scale mockup with a new propeller configuration at the Paris Air Show, announced its first firm order, and signed additional letters of intent (LOIs), bringing its total backlog to approximately 2,800 aircraft valued close to $14 billion. This includes a firm order from Revo worth $250 million, expected to generate revenue starting in 2027. Eve invested $55 million in program development and reported a net loss of $64 million for the quarter. Despite this, the company remains on track with a cash position of $242 million and a total liquidity of $375 million, sufficient to sustain operations through 2026. The company expects to start flying its prototype soon and is preparing for certification and entry into service in 2027, with an anticipated cash consumption of $200-$250 million for the full year, likely on the lower end.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 | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -174.00K | 0.00 | -100.00K | -33.49K | -108.00K | 0.00 |
| EBITDA | -183.00M | -133.80M | -125.74M | -173.06M | -18.15M | -16.66M |
| Net Income | -189.95M | -138.17M | -127.66M | -174.03M | -18.26M | -9.66M |
Balance Sheet | ||||||
| Total Assets | 260.99M | 318.24M | 245.34M | 312.88M | 15.32M | 72.99K |
| Cash, Cash Equivalents and Short-Term Investments | 242.74M | 303.38M | 158.10M | 227.93M | 14.38M | 1.97M |
| Total Debt | 154.55M | 132.01M | 25.76M | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 247.56M | 194.32M | 80.29M | 25.95M | 2.23M | 1.09M |
| Stockholders Equity | 13.44M | 123.92M | 165.05M | 286.92M | 13.09M | -1.01M |
Cash Flow | ||||||
| Free Cash Flow | -154.37M | -141.18M | -94.68M | -59.93M | -14.89M | -9.03M |
| Operating Cash Flow | -149.92M | -135.97M | -94.51M | -59.46M | -14.89M | -9.03M |
| Investing Cash Flow | -30.17M | -56.22M | 66.83M | -258.48M | -4.60M | -232.30M |
| Financing Cash Flow | 194.50M | 203.02M | 24.93M | 352.70M | 29.26M | 9.03M |
Eve Holding Technical Analysis
Negative
4.42
Price Trends
6.27
Negative
5.11
Negative
4.65
Negative
Market Momentum
-0.28
Positive
25.76
Positive
10.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EVEX, the sentiment is Negative. The current price of 4.42 is below the 20-day moving average (MA) of 6.36, below the 50-day MA of 6.27, and below the 200-day MA of 4.65, indicating a bearish trend. The MACD of -0.28 indicates Positive momentum. The RSI at 25.76 is Positive, neither overbought nor oversold. The STOCH value of 10.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 0 New Risks
Eve Holding Peers Comparison
Overall Rating
UnderperformOutperform
Sector (58)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | HK$13.62B | 5.49 | -2.78% | 5.72% | 2.29% | -57.50% | |
49 Neutral | $1.27B | ― | -43.18% | ― | 167.99% | 22.75% | |
49 Neutral | $830.90M | ― | -23.63% | ― | 94.39% | 24.44% | |
49 Neutral | $6.61B | ― | -60.83% | ― | ― | -4.00% | |
43 Neutral | $1.78B | ― | -320.52% | ― | ― | -30.78% | |
43 Neutral | $172.20M | ― | -91.98% | ― | -84.19% | 55.27% | |
25 Underperform | $523.03M | ― | 115.25% | ― | ― | ― |
* Industrials Sector Average
Performance Comparison
EVEX
Eve Holding
4.42
1.81
69.35%
SPCE
Virgin Galactic Holdings
3.02
-3.55
-54.03%
EH
Ehang Holdings
17.70
5.89
49.87%
EVTL
Vertical Aerospace
5.25
-3.15
-37.50%
SKYH
Sky Harbour Group
10.70
0.41
3.98%
ACHR
Archer Aviation
9.99
6.15
160.16%
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.