Joby Aviation (JOBY) AI Stock Analysis

• Market Cap: $11.52B
• Dividend Yield: N/A
• Average Volume (3M): 31.91M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.07
• Revenue Growth: -90.97%
• EPS Growth: -120.32%
• Country: US
• Employees: 2,029
• Sector: Industrials
• Sector Strength: 73
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -0.41
• Shares Outstanding: 855,981,500
• 10 Day Avg. Volume: 30,534,998
• 30 Day Avg. Volume: 31,907,142
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.65
• Enterprise Value/Revenue: 75.98K
• Enterprise Value/Gross Profit: -767.49
• Enterprise Value/Ebitda: -9.83
• 1Y Price Target: $12.40
• Price Target Upside: -7.88% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 6

• Rating: 41 Neutral
• Price Target: $13.50 ▲(0.30% Upside)

Joby Aviation's overall stock score is primarily impacted by its weak financial performance and challenging valuation. While technical analysis shows some longer-term bullish trends, the stock's negative P/E ratio and absence of a dividend yield weigh heavily on its attractiveness. Recent strategic advancements and partnerships provide some optimism but are overshadowed by financial and operational challenges.

Positive Factors

Market Strategy and Growth

Joby Aviation's increasing diversification in its market strategy, including partnerships like the recent Blade Passenger acquisition and entry into the defense market through L3Harris, showcases strong potential for growth.

Partnerships and Collaborations

Joby Aviation's partnerships with Delta and Uber are critical for achieving scaled global operations, leveraging the international footprints of both companies in key global launch markets.

Negative Factors

Financial Performance

Joby Aviation reported a wider operating loss due to increased research and development expenses related to aircraft manufacturing and certification efforts.

Stock Valuation

The stock is currently rated as Neutral after a significant 400% increase in its price, indicating that it may be overvalued at current levels.

Joby Aviation Business Overview & Revenue Model

Company Description

Joby Aviation, Inc., a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. It intends to build an aerial ridesharing service. The company was founded in 2009 and is headquartered in Santa Cruz, California.

How the Company Makes Money

Joby Aviation plans to generate revenue primarily through its air taxi services, which will offer on-demand urban air transportation. The company intends to operate its own fleet of eVTOL aircraft, providing a direct-to-consumer service akin to ride-sharing, but in the air. Additionally, Joby may generate revenue through partnerships with transportation network companies and other strategic collaborations that integrate its air mobility services into broader transportation ecosystems. Key factors contributing to its earnings include advancements in aircraft technology, regulatory approvals, and successful scaling of its aerial ride-sharing operations.

Joby Aviation Financial Statement Overview

Summary

Joby Aviation's financial performance is weak, with significant net losses, negative EBIT margins, and cash flow deficits. The balance sheet shows some stability with a strong equity position, but declining equity ratio raises concerns. Overall, financial health is poor, necessitating strategic changes.

Income Statement

Joby Aviation's income statement shows persistent challenges, as evidenced by significant net losses and negative EBIT margins over the years. The company has not generated any significant revenue in most years, indicating difficulties in achieving sales growth. The absence of gross profit and negative EBIT and EBITDA margins reflect an ongoing struggle to cover operating expenses without a revenue base. These factors contribute to a very low score, highlighting substantial operational risks.

Balance Sheet

The balance sheet of Joby Aviation shows a relatively strong equity position compared to its liabilities, highlighted by a positive stockholders' equity. The debt-to-equity ratio is relatively low, indicating manageable debt levels. However, the company's equity ratio has been declining, suggesting potential risk if liabilities continue to grow or equity diminishes. Overall, the balance sheet shows some stability but raises concerns about future leverage and asset management.

Cash Flow

Joby Aviation's cash flow statement reveals challenges, with consistent negative operating and free cash flows. This indicates that the company is not generating sufficient cash from its operations to cover its expenses, relying instead on financing activities. The negative free cash flow growth rate and poor operating cash flow to net income ratio illustrate inefficiencies in cash management and operational sustainability, leading to a low score.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	98.00K	136.00K	1.03M	0.00	0.00	0.00
Gross Profit	-9.70M	69.00K	832.00K	0.00	0.00	0.00
EBITDA	-757.16M	-561.18M	-441.60M	-368.21M	-243.15M	-124.83M
Net Income	-797.24M	-608.03M	-513.05M	-258.04M	-180.32M	-114.16M
Balance Sheet
Total Assets	1.26B	1.20B	1.27B	1.29B	1.49B	497.25M
Cash, Cash Equivalents and Short-Term Investments	990.98M	932.85M	1.03B	1.06B	1.30B	445.92M
Total Debt	30.91M	31.21M	30.66M	27.32M	2.39M	2.64M
Total Liabilities	361.58M	291.10M	235.07M	128.24M	171.60M	12.11M
Stockholders Equity	898.29M	912.36M	1.03B	1.16B	1.32B	485.14M
Cash Flow
Free Cash Flow	-500.70M	-476.88M	-344.43M	-290.81M	-228.09M	-129.21M
Operating Cash Flow	-448.33M	-436.27M	-313.83M	-235.93M	-195.75M	-105.90M
Investing Cash Flow	-44.35M	70.76M	80.30M	-630.79M	-18.74M	-393.16M
Financing Cash Flow	653.83M	361.11M	288.24M	60.46M	1.09B	69.22M

Joby Aviation Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 13.46
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JOBY, the sentiment is Neutral. The current price of 13.46 is below the 20-day moving average (MA) of 15.17, below the 50-day MA of 14.94, and above the 200-day MA of 9.29, indicating a neutral trend. The MACD of -0.65 indicates Positive momentum. The RSI at 39.51 is Neutral, neither overbought nor oversold. The STOCH value of 13.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JOBY.

Joby Aviation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.66B	14.67	12.46%	3.53%	2.94%	43.39%
SRTA	55 Neutral	$331.68M	―	-8.39%	―	6.70%	63.35%
FLYX	55 Neutral	$338.15M	28.86	26.01%	―	―	―
UP	52 Neutral	$1.40B	―	-2416.94%	―	-20.21%	88.09%
SOAR	47 Neutral	$8.53M	―	-398.23%	―	-9.49%	97.34%
SRFM	46 Neutral	$170.45M	―	138.02%	―	-3.95%	85.63%
JOBY	41 Neutral	$11.52B	―	-88.93%	―	-90.97%	-120.32%

Joby Aviation Corporate Events

Joby Aviation Files Prospectus for Share Resale

On August 29, 2025, Joby Aviation, Inc. filed prospectus supplements with the U.S. Securities and Exchange Commission for the resale of shares related to its acquisition of Strata Critical Medical, Inc., and a stock purchase agreement with Toyota Motor Corporation. The filings involve the resale of 5,325,585 shares from the Strata acquisition and 49,701,790 shares from the Toyota agreement, impacting Joby’s financial and operational strategies.

Joby Aviation Completes Acquisition of Blade Air Mobility

On August 29, 2025, Joby Aviation announced the completion of its acquisition of Blade Air Mobility’s passenger business. This strategic move provides Joby with Blade’s established network and customer base in key markets, positioning the company for a faster entry into commercial service with its electric air taxis. The acquisition will allow Joby to continue Blade’s passenger operations as a wholly-owned subsidiary, enhancing its market presence and operational capabilities.

Joby Aviation Acquires Blade’s Passenger Business

On August 1, 2025, Joby Aviation entered into an Equity Purchase Agreement to acquire Blade Air Mobility’s passenger business for up to $125 million. This acquisition, announced on August 4, 2025, is expected to accelerate Joby’s commercialization efforts by providing access to Blade’s infrastructure and customer base, particularly in key urban markets like New York City and Southern Europe. The transaction will allow Joby to leverage Blade’s operational expertise as it prepares to launch its air taxi service in Dubai, while also becoming Blade’s preferred VTOL partner for organ transport, enhancing Joby’s position in the air mobility sector.

Joby Aviation Partners with L3Harris on Hybrid VTOL

On August 1, 2025, Joby Aviation announced a collaboration with L3Harris Technologies to explore defense applications for a new class of gas turbine hybrid VTOL aircraft. This aircraft is designed for low-altitude missions and can be optionally piloted, allowing for both crewed and autonomous operations. The partnership leverages Joby’s commercial aircraft development and manufacturing capabilities with L3Harris’ expertise in platform missionization. Flight testing is anticipated to begin in fall 2025, with operational demonstrations planned for 2026, highlighting the potential impact on defense operations and innovation in vertical lift technology.

Joby Aviation Approves Key Amendments at Annual Meeting

On June 6, 2025, Joby Aviation held its Annual Meeting of Stockholders, where key proposals were voted on, including the election of directors and amendments to the company’s Certificate of Incorporation. The amendments approved include increasing the number of authorized shares and revising provisions related to U.S. air carrier ownership, which could impact the company’s capital structure and regulatory compliance.

Joby Aviation Partners with Abdul Latif Jameel for Saudi Electric Aircraft

On June 3, 2025, Joby Aviation and Abdul Latif Jameel announced a Memorandum of Understanding to explore opportunities for electric aircraft distribution in Saudi Arabia. This partnership, aligned with Saudi Arabia’s Vision 2030, could lead to the delivery of up to 200 electric aircraft valued at approximately $1 billion, aiming to enhance the Kingdom’s mobility sector and create socio-economic growth.