(ELVA) Electrovaya Common Shares - Ratings and Ratios

Exchange: NASDAQ • Country: Canada • Currency: USD • Type: Common Stock • ISIN: CA28617B6061

Lithium-Ion Batteries, Battery Management Systems, Energy Storage, Electric Transportation, Industrial Applications

Stock: Electrical Components & Equipment
Age 10y

MCap 390m
Avg Vol 404K (3.25M USD)

Beta 0.702
Volatility 74.46%

EPS (Earnings per Share)

EPS CAGR: 42.39%
EPS Trend: 73.4%

Last SUE: -0.06
Qual. Beats: 0

Revenue

Rev. CAGR: 110.17%
Rev. Trend: 64.1%

Last SUE: -0.01
Qual. Beats: 0

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	74.5%
Value at Risk 5%th	97.2%
Relative Tail Risk	-20.65%

Reward TTM
Sharpe Ratio	2.15
Alpha	283.67
CAGR/Max DD	0.50

Character TTM
Hurst Exponent	0.456
Beta	0.702
Beta Downside	0.560

Drawdowns 3y
Max DD	64.19%
Mean DD	35.99%
Median DD	39.51%

Description: ELVA Electrovaya Common Shares January 17, 2026

Electrovaya Inc. (NASDAQ: ELVA) designs, develops, manufactures, and sells lithium-ion batteries, battery-management systems, and related products for energy-storage, clean-transport, and specialty markets across North America.

The firm’s product portfolio spans low- and high-voltage “infinity” battery systems, solid-state battery prototypes, and turnkey solutions for material-handling equipment (e.g., forklift batteries), robotics, defense, construction, and heavy-duty electric vehicles such as buses and trucks.

Key recent metrics (Q4 2023): revenue of $12.4 million, a 22 % YoY increase driven by higher demand for industrial energy-storage contracts; cash on hand of $28 million, providing ~18 months of runway at current burn rates; and a gross margin of 18 % after scaling up its high-voltage module line.

Sector drivers that directly impact ELVA include the accelerating adoption of electrified material-handling fleets (projected CAGR ≈ 15 % through 2028) and the tightening global lithium-ion supply chain, which has pushed lithium carbonate prices up ~30 % YoY, favoring vertically integrated manufacturers.

Analysts note that ELVA’s ability to commercialize solid-state cells remains a high-risk, high-reward catalyst; success would markedly improve energy density and safety, potentially unlocking new defense and aerospace contracts.

For a deeper, data-driven look at ELVA’s valuation assumptions and scenario analysis, the ValueRay platform offers transparent models you can explore at your own pace.

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income (3.36m TTM) > 0 and > 6% of Revenue (6% = 3.81m TTM)

FCFTA -0.16 (>2.0%) and ΔFCFTA -17.89pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 50.14% (prev 1.98%; Δ 48.16pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.01 (>3.0%) and CFO 836.2k <= Net Income 3.36m (YES >=105%, WARN >=100%)

Net Debt (16.2m) to EBITDA (5.59m) ratio: 2.90 <= 3.0 (WARN <= 3.5)

Current Ratio 4.16 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (42.1m) change vs 12m ago 23.80% (target <= -2.0% for YES)

Gross Margin 30.62% (prev 29.30%; Δ 1.33pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 123.0% (prev 113.7%; Δ 9.30pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 1.41 (EBITDA TTM 5.59m / Interest Expense TTM 2.88m) >= 6 (WARN >= 3)

Altman Z'' -2.14

(A) 0.50 = (Total Current Assets 42.0m - Total Current Liabilities 10.1m) / Total Assets 63.9m

(B) -1.97 = Retained Earnings (Balance) -125.9m / Total Assets 63.9m

warn (B) unusual magnitude: -1.97 — check mapping/units

(D) 0.45 = Book Value of Equity 14.9m / Total Liabilities 32.8m

Total Rating: -2.14 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 51.34

1. Piotroski 3.50pt

2. FCF Yield -2.46%

3. FCF Margin -15.67%

4. Debt/Equity 0.72

5. Debt/Ebitda 2.90

6. ROIC - WACC (= -0.27)%

7. RoE 14.20%

8. Rev. Trend 64.12%

9. EPS Trend 73.40%

What is the price of ELVA shares?

As of January 17, 2026, the stock is trading at USD 9.82 with a total of 693,365 shares traded.
Over the past week, the price has changed by +10.96%, over one month by +49.92%, over three months by +44.62% and over the past year by +294.38%.

Is ELVA a buy, sell or hold?

Electrovaya Common Shares has received a consensus analysts rating of 4.60. Therefore, it is recommended to buy ELVA.

Strong Buy: 3
Buy: 2
Hold: 0
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the ELVA price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	8.2	-16.5%
Analysts Target Price	8.2	-16.5%
ValueRay Target Price	9.8	-0.1%

ELVA Fundamental Data Overview January 14, 2026

P/E Trailing = 107.0
P/E Forward = 53.7634
P/S = 6.1038
P/B = 12.5159
P/EG = 0.9649
Revenue TTM = 63.6m USD
EBIT TTM = 4.07m USD
EBITDA TTM = 5.59m USD
Long Term Debt = 20.7m USD (from longTermDebt, last quarter)
Short Term Debt = 715.7k USD (from shortTermDebt, last quarter)
Debt = 22.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 16.2m USD (from netDebt column, last quarter)
Enterprise Value = 405.1m USD (389.6m + Debt 22.6m - CCE 7.01m)
Interest Coverage Ratio = 1.41 (Ebit TTM 4.07m / Interest Expense TTM 2.88m)
EV/FCF = -40.66x (Enterprise Value 405.1m / FCF TTM -9.96m)
FCF Yield = -2.46% (FCF TTM -9.96m / Enterprise Value 405.1m)
FCF Margin = -15.67% (FCF TTM -9.96m / Revenue TTM 63.6m)
Net Margin = 5.29% (Net Income TTM 3.36m / Revenue TTM 63.6m)
Gross Margin = 30.62% ((Revenue TTM 63.6m - Cost of Revenue TTM 44.1m) / Revenue TTM)
Gross Margin QoQ = 30.17% (prev 30.80%)
Tobins Q-Ratio = 6.34 (Enterprise Value 405.1m / Total Assets 63.9m)
Interest Expense / Debt = 4.28% (Interest Expense 965.2k / Debt 22.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = 3.21m (EBIT 4.07m * (1 - 21.00%))
Current Ratio = 4.16 (Total Current Assets 42.0m / Total Current Liabilities 10.1m)
Debt / Equity = 0.72 (Debt 22.6m / totalStockholderEquity, last quarter 31.1m)
Debt / EBITDA = 2.90 (Net Debt 16.2m / EBITDA 5.59m)
Debt / FCF = -1.63 (negative FCF - burning cash) (Net Debt 16.2m / FCF TTM -9.96m)
Total Stockholder Equity = 23.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 6.50% (Net Income 3.36m / Total Assets 63.9m)
RoE = 14.20% (Net Income TTM 3.36m / Total Stockholder Equity 23.7m)
RoCE = 9.15% (EBIT 4.07m / Capital Employed (Equity 23.7m + L.T.Debt 20.7m))
RoIC = 7.90% (NOPAT 3.21m / Invested Capital 40.6m)
WACC = 8.17% (E(389.6m)/V(412.1m) * Re(8.45%) + D(22.6m)/V(412.1m) * Rd(4.28%) * (1-Tc(0.21)))
Discount Rate = 8.45% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 11.56%
Fair Price DCF = unknown (Cash Flow -9.96m)
EPS Correlation: 73.40 | EPS CAGR: 42.39% | SUE: -0.06 | # QB: 0
Revenue Correlation: 64.12 | Revenue CAGR: 110.2% | SUE: -0.01 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.02 | Chg30d=-0.015 | Revisions Net=-2 | Analysts=5
EPS current Year (2026-09-30): EPS=0.14 | Chg30d=-0.099 | Revisions Net=-5 | Growth EPS=+68.8% | Growth Revenue=+32.0%
EPS next Year (2027-09-30): EPS=0.36 | Chg30d=-0.126 | Revisions Net=-4 | Growth EPS=+169.6% | Growth Revenue=+47.5%

Additional Sources for ELVA Stock

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