(EH) Ehang Holdings - Overview
Sector: Industrials | Industry: Aerospace & Defense | Exchange: NASDAQ (USA) | Market Cap: 742m USD | Total Return: -38% in 12m
Avg Turnover: 5.59M
Qual. Beats: 1
Rev. Trend: 93.6%
Qual. Beats: 1
Warnings
Interest Coverage Ratio -34.2 is critical
Beneish M-Score 1.00 > -1.5 - likely earnings manipulation
Altman Z'' -4.25 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
EHang Holdings Limited is a Guangzhou-based technology platform specializing in Urban Air Mobility (UAM). The company designs and manufactures electric vertical take-off and landing (eVTOL) aircraft, including the EH216 and VT series, for applications in passenger transport, logistics, and smart city management. Its business model integrates hardware manufacturing with a proprietary digital operating system that coordinates flight scheduling, battery management, and command-and-control infrastructure.
The UAM sector is characterized by rigorous certification requirements from aviation authorities, as these vehicles must meet safety standards comparable to commercial rotorcraft. EHang operates within the emerging eVTOL market, which relies on high-density battery technology and automated flight control systems to replace traditional combustion-engine helicopters in urban environments.
To better understand how this firm compares to its global peers, consider reviewing the fundamental analysis available on ValueRay.
- CAAC type certification and air operator certificate milestones drive commercial scalability
- Expansion of recurring flight service revenue shifts business model from hardware sales
- Infrastructure partnerships for vertiports and charging systems determine operational readiness
- Geopolitical tensions and export controls impact international market penetration and supply chain
- Government subsidies and low-altitude economy policies influence capital expenditure and growth speed
| Net Income: -187.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.16 > 0.02 and ΔFCF/TA -22.96 > 1.0 |
| NWC/Revenue: 129.4% < 20% (prev 194.2%; Δ -64.78% < -1%) |
| CFO/TA -0.09 > 3% & CFO -174.6m > Net Income -187.9m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.12 > 1.5 & < 3 |
| Outstanding Shares: last quarter (36.7m) vs 12m ago 1.87% < -2% |
| Gross Margin: 61.70% > 18% (prev 0.61%; Δ 6.11k% > 0.5%) |
| Asset Turnover: 34.63% > 50% (prev 26.27%; Δ 8.36% > 0%) |
| Interest Coverage Ratio: -34.22 > 6 (EBITDA TTM -206.3m / Interest Expense TTM 6.88m) |
| A: 0.40 (Total Current Assets 1.55b - Total Current Liabilities 728.2m) / Total Assets 2.05b |
| B: -1.08 (Retained Earnings -2.22b / Total Assets 2.05b) |
| C: -0.13 (EBIT TTM -235.4m / Avg Total Assets 1.83b) |
| D: -2.36 (Book Value of Equity -2.21b / Total Liabilities 936.7m) |
| Altman-Z'' = -4.25 = D |
| DSRI: 4.91 (Receivables 210.5m/28.5m, Revenue 632.3m/420.5m) |
| GMI: 0.99 (GM 61.70% / 61.36%) |
| AQI: 2.15 (AQ_t 0.06 / AQ_t-1 0.03) |
| SGI: 1.50 (Revenue 632.3m / 420.5m) |
| TATA: -0.01 (NI -187.9m - CFO -174.6m) / TA 2.05b) |
| Beneish M = 1.22 (Cap -4..+1) = D |
As of May 26, 2026, the stock is trading at USD 9.78 with a total of 898,900 shares traded.
Over the past week, the price has changed by +3.60%,
over one month by -2.59%,
over three months by -23.11% and
over the past year by -38.02%.
Ehang Holdings has received a consensus analysts rating of 4.83. Therefore, it is recommended to buy EH.
- StrongBuy: 10
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 19 | 94.5% |
Market Cap CNY = 5.04b (741.8m USD * 6.7948 USD.CNY)
P/S = 1.4559
P/B = 4.7205
Revenue TTM = 632.3m CNY
EBIT TTM = -235.4m CNY
EBITDA TTM = -206.3m CNY
Long Term Debt = 82.7m CNY (from longTermDebt, last fiscal year)
Short Term Debt = 255.9m CNY (from shortTermDebt, last quarter)
Debt = 583.4m CNY (from shortLongTermDebtTotal, last quarter) + Leases 130.5m
Net Debt = -546.6m CNY (calculated: Debt 583.4m - CCE 1.13b)
Enterprise Value = 4.49b CNY (5.04b + Debt 583.4m - CCE 1.13b)
Interest Coverage Ratio = -34.22 (Ebit TTM -235.4m / Interest Expense TTM 6.88m)
EV/FCF = -14.11x (Enterprise Value 4.49b / FCF TTM -318.5m)
FCF Yield = -7.09% (FCF TTM -318.5m / Enterprise Value 4.49b)
FCF Margin = -50.37% (FCF TTM -318.5m / Revenue TTM 632.3m)
Net Margin = -29.71% (Net Income TTM -187.9m / Revenue TTM 632.3m)
Gross Margin = 61.70% ((Revenue TTM 632.3m - Cost of Revenue TTM 242.2m) / Revenue TTM)
Gross Margin QoQ = 60.81% (prev 62.09%)
Tobins Q-Ratio = 2.19 (Enterprise Value 4.49b / Total Assets 2.05b)
Interest Expense / Debt = 1.18% (Interest Expense 6.88m / Debt 583.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -186.0m (EBIT -235.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.12 (Total Current Assets 1.55b / Total Current Liabilities 728.2m)
Debt / Equity = 0.52 (Debt 583.4m / totalStockholderEquity, last quarter 1.12b)
Debt / EBITDA = 2.65 (negative EBITDA) (Net Debt -546.6m / EBITDA -206.3m)
Debt / FCF = 1.72 (negative FCF - burning cash) (Net Debt -546.6m / FCF TTM -318.5m)
Total Stockholder Equity = 1.07b (last 4 quarters mean from totalStockholderEquity)
RoA = -10.29% (Net Income -187.9m / Total Assets 2.05b)
RoE = -5.71% (Net Income TTM -187.9m / Total Stockholder Equity 3.29b)
RoCE = -6.98% (EBIT -235.4m / Capital Employed (Equity 3.29b + L.T.Debt 82.7m))
RoIC = -11.91% (negative operating profit) (NOPAT -186.0m / Invested Capital 1.56b)
WACC = 12.16% (E(5.04b)/V(5.62b) * Re(13.46%) + D(583.4m)/V(5.62b) * Rd(1.18%) * (1-Tc(0.21)))
Discount Rate = 13.46% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: -33.33 | Cagr: -21.22%
[DCF] Fair Price = unknown (Cash Flow -318.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 4.0 | # QB: 1
Revenue Correlation: 93.55 | Revenue CAGR: 131.5% | SUE: 1.35 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.50 | Chg30d=-457.14% | Revisions=-20% | Analysts=1
EPS current Year (2026-12-31): EPS=1.19 | Chg30d=-47.21% | Revisions=-33% | GrowthEPS=+196.5% | GrowthRev=+20.1%
EPS next Year (2027-12-31): EPS=4.95 | Chg30d=+12.75% | Revisions=-20% | GrowthEPS=+317.1% | GrowthRev=+90.8%
[Analyst] Revisions Ratio: -33%