Valuation
Is the price right?Insufficient data
Insufficient data: 1 of 3 inputs reported (at least 2 needed). We leave it blank rather than fill the gap with a made-up middle value.
Bringing the fundamentals into focus…
EH IndustrialsBeta data
EHang Holdings Limited
$3.82+1.60%
Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026
Basics
- Sector
- Industrials
- Industry
- Aerospace & Defense
- Country
- China
- Market cap
- 289.7M USD
- Enterprise value
- 241.4M USD
- Full-time employees
- 829
Growth
Is it growing?77/100
Moderate▲ 1 since Oct 27 close
2/3 inputs reported · Partial data
Since last year: ▼ Weaker
- 12-month revenue fell 8.4%
Why it changed since the Oct 27, 2026 close: Score 76 → 77
- Peer companies moved+1
Why
Compare with peers Stronger than most peers on:
- ▲ 3-yr revenue
Behind the score
Revenue and earnings-per-share growth over one year, and revenue growth over three years.
Earnings per share growthUnavailable
Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0709 · MAD: 0.24813-year revenue growth111.3%
SEC filings · 3 years to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.72Sector median: 0.0421 · MAD: 0.0625Revenue growth-8.4%
SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score -1.67Sector median: 0.0439 · MAD: 0.0766Profitability
Does it earn well?0/100
Weak
3/3 inputs reported · High confidence
Since last year: ▼ Weaker
- Operating margin fell 20.1 points to -75.8%
- Free cash flow turned negative over the last 12 months
Why
Compare with peers Weaker than most peers on:
- ▼ Operating margin
- ▼ ROA
- ▼ ROIC
Behind the score
Return on invested capital, operating margin, and return on assets.
Operating margin-75.8%
SEC filings · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -5.28Sector median: 0.0773 · MAD: 0.0507Return on assets-13.9%
SEC filings · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.56Sector median: 0.0311 · MAD: 0.0241Return on invested capital-27.6%
SEC filings · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.78Sector median: 0.0715 · MAD: 0.0558Other data (not scored)
Gross margin61.5%
Yahoo Finance · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038Return on equity-36.5%
Yahoo Finance · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639Risk
Debt, liquidity, price swingsHigher
Higher relative risk
3/3 inputs reported · High confidence
Since last year: Changed: worth a look
- Debt up 198%, still less than its cash
Why it changed since the Oct 27, 2026 close: Safety percentile 32 → 31
- Peer companies moved-1
Why
Compare with peers Weaker than most peers on:
- ▼ Beta
- ▼ Debt / equity
Behind the score
Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.
Beta1.17
Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.91Sector median: 0.6440 · MAD: 0.2745Current ratio1.84×
Yahoo FinanceReported value33% base weight · Z-score 0.42Sector median: 1.6180 · MAD: 0.5360Debt / equity0.64×
Yahoo FinanceReported value33% base weight · Z-score -0.70Sector median: 0.4019 · MAD: 0.3378Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about EHang
- Is EHang getting weaker?
- Its latest SEC filing (May 15, 2026) got weaker in some ways: operating margin fell 20.1 points to -75.8%; 12-month revenue fell 8.4%. Its overall score is unchanged at 36/100 since Oct 28, 2026.
- How is EHang valued vs its peers?
- Insufficient data: 1 of 3 inputs reported (at least 2 needed).
- Is EHang growing?
- Yes, faster than most of its peers. Growth scores 77/100 against 2,459 industrials peers. 3-year revenue growth 111.3% vs a peer median of 4.2% (stronger than 95% of peers).3-year revenue growth 111.3% vs peers 4.2% (stronger than 95% of peers). Revenue growth -8.4% vs a peer median of 4.4% (weaker than 84% of peers).Revenue growth -8.4% vs peers 4.4% (weaker than 84% of peers).
- How profitable is EHang?
- Less profitable than most of its peers. Profitability scores 0/100 against 2,459 industrials peers. Operating margin -75.8% vs a peer median of 7.7% (weaker than 100% of peers).Operating margin -75.8% vs peers 7.7% (weaker than 100% of peers).
- How risky is EHang?
- Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.17 vs a peer median of 0.64 (weaker than 83% of peers).Beta 1.17 vs peers 0.64 (weaker than 83% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Year ended Dec 31, 2025 · filed May 15, 2026 · compared with the year ended Dec 31, 2024Got weaker
- Operating margin fell 20.1 points to -75.8%
- 12-month revenue fell 8.4%
- Debt up 198%, still less than its cash
- Free cash flow turned negative over the last 12 months
Worth watching: EHang is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
| Previous year | Latest year | Change | |
|---|---|---|---|
| Revenue (12 months) | 456.2M CNY | 418.0M CNY | −8.4% |
| Net income (12 months) | −229.8M CNY | −276.0M CNY | +20.1% |
| Operating margin | -55.7% | -75.8% | −20.1 pts |
| Free cash flow (12 months) | 119.0M CNY | −327.4M CNY | turned negative |
| Debt | 31.0M CNY | 92.5M CNY | +198.4% |
| Cash | 610.9M CNY | 256.4M CNY | −58.0% |
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.
Financials
Fiscal years from SEC annual filings · change vs the prior year · amounts in CNY, as reported| Key ratios | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | Change |
|---|---|---|---|---|---|---|
| Gross margin | 63.4% | 65.9% | 64.1% | 61.4% | 61.5% | ▲ 0.2 pts |
| Operating margin | -564.3% | -685.9% | -252.3% | -55.7% | -75.8% | ▼ 20 pts |
| Net margin | -552.7% | -740.6% | -256.9% | -50.4% | -66.0% | ▼ 16 pts |
| Return on assets (ROA) | -58.6% | -61.8% | -50.4% | -14.5% | -13.9% | ▲ 0.6 pts |
| Return on equity (ROE) | -94.4% | -264.1% | -141.1% | -24.0% | -25.8% | ▼ 1.8 pts |
| Free cash flow margin | -241.6% | -418.9% | -82.0% | 26.1% | -78.3% | ▼ 104 pts |
| Current ratio | 3.50× | 1.37× | 1.81× | 2.89× | 2.07× | ▼ 28% |
| Quick ratio | 2.92× | 1.11× | 1.57× | 2.72× | 1.93× | ▼ 29% |
| Debt to equity | 0.06× | 0.14× | 0.06× | 0.03× | 0.09× | ▲ 167% |
| Interest coverage | -177.78× | -141.70× | -101.11× | -75.28× | -53.00× | ▲ 30% |
EH price history
Price history is added with the daily price update and will appear after the next one.