Eve Holding (EVEX)
NYSE:EVEX
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Eve Holding
(NYSE:EVEX)
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Rating:46Neutral
Price Target:
$3.00
▲(2.04% Upside)
Action:ReiteratedDate:05/05/26
Overall score is held down primarily by very weak financial performance (pre-revenue, widening losses, and sustained negative free cash flow) and increased leverage. The earnings call adds some support via solid liquidity runway, visible flight-test/certification progress, and identified synergies, but the path to revenue appears pushed to ~2028 and binding-order conversion remains a key uncertainty. Technicals are neutral-to-mixed and valuation is not supportive given negative earnings and no dividend.
Positive Factors
Strong liquidity runway
A sizable cash balance and committed financing provide a multi-year runway to fund flight testing, conforming‑prototype assembly, and certification activities. This reduces near-term financing pressure and allows management to prioritize operational milestones without immediate revenue dependency.
Negative Factors
Pre‑revenue, widening losses
The company remains pre‑revenue with sharply widening losses, meaning operating performance cannot fund development. Persistent negative earnings raise the probability of dilution or costly financing and lengthen the time to positive returns, making long‑term profitability uncertain.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity runway
A sizable cash balance and committed financing provide a multi-year runway to fund flight testing, conforming‑prototype assembly, and certification activities. This reduces near-term financing pressure and allows management to prioritize operational milestones without immediate revenue dependency.
Read all positive factors
Eve Holding (EVEX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.13B
Dividend YieldN/A
Average Volume (3M)1.30M
Price to Earnings (P/E)―
Beta (1Y)1.84
Revenue GrowthN/A
EPS Growth-33.98%
CountryUS
Employees174
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-0.69
Shares Outstanding348,304,600
10 Day Avg. Volume1,215,881
30 Day Avg. Volume1,303,601
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)10.36
Price to Sales (P/S)0.00
P/FCF Ratio-7.41
Enterprise Value/Market Cap1.02
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-1.56K
Enterprise Value/Ebitda-5.29
Forecast
1Y Price Target
$6.39Price Target Upside117.35% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.65
Revenue Forecast (FY)$555.56K
Eve Holding Business Overview & Revenue Model
Company Description
Eve Holding, Inc. develops urban air mobility solutions. It is involved in the design and production of eVTOLs; provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground hand...
How the Company Makes Money
Eve Holding’s intended revenue model centers on commercializing an eVTOL aircraft platform and generating recurring revenue from services that support urban air mobility operations. Key planned revenue streams include: (1) eVTOL aircraft sales and...
Eve Holding Key Performance Indicators (KPIs)
Eve Holding Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 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
38
Negative
Cash Flow
15
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -212.18M | -133.75M | -125.66M | -173.07M | -18.15M |
| Net Income | -224.25M | -138.17M | -127.66M | -174.03M | -18.26M |
Balance Sheet | |||||
| Total Assets | 434.88M | 318.24M | 245.34M | 312.88M | 21.57M |
| Cash, Cash Equivalents and Short-Term Investments | 384.08M | 303.38M | 158.10M | 227.93M | 14.38M |
| Total Debt | 179.79M | 132.01M | 25.76M | 0.00 | 0.00 |
| Total Liabilities | 311.12M | 194.32M | 80.29M | 25.95M | 10.87M |
| Stockholders Equity | 123.76M | 123.92M | 165.05M | 286.92M | 10.70M |
Cash Flow | |||||
| Free Cash Flow | -172.99M | -141.18M | -94.68M | -59.93M | -14.89M |
| Operating Cash Flow | -160.43M | -135.97M | -94.51M | -59.46M | -14.89M |
| Investing Cash Flow | -46.73M | -56.22M | 66.83M | -258.48M | 0.00 |
| Financing Cash Flow | 263.12M | 203.02M | 24.93M | 352.70M | 29.26M |
Eve Holding Technical Analysis
Neutral
2.94
Price Trends
2.83
Positive
3.61
Negative
4.28
Negative
Market Momentum
-0.02
Negative
60.20
Neutral
79.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EVEX, the sentiment is Neutral. The current price of 2.94 is above the 20-day moving average (MA) of 2.61, above the 50-day MA of 2.83, and below the 200-day MA of 4.28, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 60.20 is Neutral, neither overbought nor oversold. The STOCH value of 79.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
47 Neutral | $4.86B | -6.21 | -37.76% | ― | ― | 30.96% | |
46 Neutral | $1.13B | ― | -225.72% | ― | ― | -33.98% | |
44 Neutral | $346.33M | -2.42 | -174.08% | ― | ― | ― | |
43 Neutral | $216.55M | -0.82 | -107.75% | ― | -78.06% | 59.58% | |
43 Neutral | $753.66M | 82.37 | -22.42% | ― | 12.35% | 32.54% | |
43 Neutral | $9.55M | -0.07 | 9999.00% | ― | 191.84% | 96.82% |
* Industrials Sector Average
EVEX
Eve Holding
3.24
-0.42
-11.48%
SPCE
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2.66
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-6.67%
EH
Ehang Holdings
10.50
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-44.00%
EVTL
Vertical Aerospace
2.72
-1.40
-33.98%
ACHR
Archer Aviation
6.41
-2.15
-25.12%
KITT
Nauticus Robotics
2.19
-65.62
-96.77%
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.