Eve Holding (EVEX)
NYSE:EVEX
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Eve Holding
(NYSE:EVEX)
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Rating:47Neutral
Price Target:
$2.50
▼(-7.41% Downside)
Action:ReiteratedDate:04/01/26
The score is held down primarily by weak financial performance (no revenue, sizable losses, and ongoing free-cash-flow burn) and a clearly bearish technical setup (price below all key moving averages with negative MACD). Offsetting factors include a relatively stronger earnings-call outlook driven by prototype-flight progress, large stated preorder interest, and improved liquidity, but near-term burn is guided higher and certification/execution risk remains significant.
Positive Factors
Supplier engagement & Embraer tie-up
Active supplier engagement and Embraer collaboration meaningfully de-risk program delivery and industrialization. Securing long-lead parts and advancing CDR reduces component lead‑time risk, supports assembly ramp and improves chances of meeting certification and production milestones over the next 2–3 years.
Negative Factors
Pre-revenue, widening losses & cash burn
Zero revenue combined with escalating net losses and deeply negative operating/free cash flow forces dependence on external capital. Persistent burn increases dilution and refinancing risk, making long‑term execution contingent on timely certification, order conversion, and continued access to financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Supplier engagement & Embraer tie-up
Active supplier engagement and Embraer collaboration meaningfully de-risk program delivery and industrialization. Securing long-lead parts and advancing CDR reduces component lead‑time risk, supports assembly ramp and improves chances of meeting certification and production milestones over the next 2–3 years.
Read all positive factors
Eve Holding (EVEX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$936.94M
Dividend YieldN/A
Average Volume (3M)1.21M
Price to Earnings (P/E)―
Beta (1Y)1.74
Revenue GrowthN/A
EPS Growth-33.69%
CountryUS
Employees174
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-0.19
Shares Outstanding348,304,600
10 Day Avg. Volume996,141
30 Day Avg. Volume1,214,795
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 Cap0.97
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-1.23K
Enterprise Value/Ebitda-4.17
Forecast
1Y Price Target
$6.44Price Target Upside138.52% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.64
Revenue Forecast (FY)$625.00K
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 business model is centered on generating revenue from the commercialization of eVTOL aircraft and associated support offerings. Primary intended revenue streams include (1) aircraft-related revenue from the sale of eVTOL aircraft to ...
Eve Holding Key Performance Indicators (KPIs)
Eve Holding Earnings Call Summary
Earnings Call Date:Mar 16, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful technical progress (first flights, 28 flights to date, validated key systems), strong commercial interest (firm AirX order, ~2,700-aircraft backlog) and a robust liquidity position (>$540M, increased to $641M after financing). At the same time, the company remains pre‑operational with recurring net losses, an expected increase in cash burn in 2026, rework on means-of-compliance to align with new regulations, and ongoing certification and execution risks. Overall, the positive operational milestones and commercial pipeline materially outweigh the typical pre‑revenue company challenges, though certification and increased near-term cash burn remain key risks to monitor.Positive Updates
Successful Prototype Flight Campaign Initiation
Completed first flight (Dec 19) and to date performed 28 flights totaling 1 hour 6 minutes of flight time (≈66 minutes). Prototype validated control laws, eight-lifter integration, energy management, dynamic response and noise footprint; transitioned to longer flights, higher altitudes and on-air maneuvers. Current progress represents ~9.3% of the ~300-flight campaign planned for 2026 (28/300).
Negative Updates
Ongoing Net Losses and Increasing Cash Burn
Eve reported a net loss of $64 million in Q4 2025 and $224 million for the full year. Management expects 2026 cash consumption of $225 million to $275 million, representing an increase of approximately +29% to +57% versus 2025 operational cash consumption of $175 million.
Read all updates
Q4-2025 Updates
Positive
Negative
Successful Prototype Flight Campaign Initiation
Completed first flight (Dec 19) and to date performed 28 flights totaling 1 hour 6 minutes of flight time (≈66 minutes). Prototype validated control laws, eight-lifter integration, energy management, dynamic response and noise footprint; transitioned to longer flights, higher altitudes and on-air maneuvers. Current progress represents ~9.3% of the ~300-flight campaign planned for 2026 (28/300).
Read all positive updates
Company Guidance
Management guided 2026 cash consumption of $225–$275 million (versus operational cash use of $175M in 2025 — which would have been $196M absent a $21M working‑capital timing benefit and was near the low end of prior $200–$250M guidance), with SG&A run‑rate around $30M, CapEx of roughly $20–$30M, and R&D driving the increase (Q4 R&D $59M; FY2025 R&D $195M). Liquidity at year‑end 2025 was $541M (cash ≈ $393M) and pro forma including a $150M syndicated loan totals ~$641M, which management says funds operations well into 2028; they expect cash burn to be somewhat lighter in H1 and heavier in H2. Operational milestones/guidance include ~300 prototype flights in 2026 (28 flights to date, 1 hour 6 minutes total, first flight Dec 19), assembly of six ANAC‑conforming prototypes (one demonstrator), certification/first deliveries roughly two years out (~2028), a preorder backlog of ~2,700 aircraft (~$13.5B at 2025 list prices) including AirX firm 2 + 48 options, aftermarket TechCare backlog that could generate up to ~$1.6B, and modular production capacity from 120 to 480 aircraft/year.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 | -930.00K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -224.46M | -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 | 392.46M | 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
2.70
Price Trends
2.89
Negative
3.63
Negative
4.34
Negative
Market Momentum
-0.07
Negative
48.83
Neutral
67.18
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 2.7 is above the 20-day moving average (MA) of 2.56, below the 50-day MA of 2.89, and below the 200-day MA of 4.34, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 48.83 is Neutral, neither overbought nor oversold. The STOCH value of 67.18 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% | |
49 Neutral | $13.69M | -0.42 | ― | ― | 95.38% | 45.87% | |
47 Neutral | $936.94M | -5.44 | -225.72% | ― | ― | -33.69% | |
47 Neutral | $4.06B | -7.59 | -37.76% | ― | ― | 11.14% | |
44 Neutral | $243.41M | -0.82 | -107.75% | ― | -82.36% | 56.88% | |
44 Neutral | $249.68M | 1.54 | -174.08% | ― | ― | ― | |
43 Neutral | $775.91M | -15.01 | -22.42% | ― | 23.58% | 20.74% |
* Industrials Sector Average
EVEX
Eve Holding
2.70
-0.90
-25.00%
SPCE
Virgin Galactic Holdings
2.89
0.36
14.23%
EH
Ehang Holdings
11.29
-3.32
-22.72%
EVTL
Vertical Aerospace
2.63
-0.76
-22.42%
ACHR
Archer Aviation
5.67
-1.38
-19.57%
KITT
Nauticus Robotics
0.53
-7.93
-93.75%
Eve Holding Corporate Events
Executive/Board Changes
Eve Holding appoints independent director to strengthen board
Positive
Jan 29, 2026
On January 27, 2026, Eve Holding’s board appointed Uallace Moreira Lima, an independent director designated by BNDES Participações S.A. – BNDESPAR under a prior agreement with the company and Embraer Aircraft Holding, to fill...
Business Operations and StrategyPrivate Placements and Financing
Eve Holding Secures $150 Million Syndicated Credit Facility
Positive
Jan 16, 2026
On January 13, 2026, Eve Holding’s subsidiary EVE UAM, LLC entered into a syndicated credit agreement with a group of international lenders for a US$150 million advance, which was funded on January 15, 2026 after all conditions were satisfie...
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.