ELVA Stock Analysis: Electrovaya | NASDAQ
Electrical Equipment & Parts | NASDAQ, USA | Market Cap: 450m USD | 12M Return: 77.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.74M
Qual. Beats: 0
Rev. Trend: 86.6%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Electrovaya Inc. (NASDAQ: ELVA) is a Canadian-based industrial company that designs, develops, manufactures, and sells lithium-ion batteries, battery management systems, and related products for energy storage and clean electric transportation applications across North America. Its product portfolio includes the Infinity Battery line of low- and high-voltage systems, solid-state battery technology, and lithium-ion battery systems used to power material handling equipment such as forklifts, as well as robotic, defense, construction, and high-voltage electric bus and truck applications. The company also sells cells and modules to OEM customers and offers accessories including battery chargers and industrial energy storage products. Originally incorporated in 1996 as Electrofuel Inc., the company rebranded as Electrovaya in March 2002 and is headquartered in Mississauga, Canada. Electrovaya operates within the Electrical Components & Equipment sub-industry, focusing on niche, specialized applications in the broader lithium-ion battery and clean electrification value chain rather than competing in high-volume consumer electric vehicle markets.
- Material handling battery orders drive revenue growth
- Defense and electric bus contracts expand high-voltage sales
- Competition from larger battery makers pressures margins
| Net Income: 5.00m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.32 > 0.02 and ΔFCF/TA -25.57 > 1.0 |
| NWC/Revenue: 81.74% < 20% (prev 54.64%; Δ 27.11% < -1%) |
| CFO/TA 0.00 > 3% & CFO 292k > Net Income 5.00m |
| Net Debt (16.2m) to EBITDA (6.88m): 2.36 < 3 |
| Current Ratio: 7.66 > 1.5 & < 3 |
| Outstanding Shares: last quarter (51.7m) vs 12m ago 28.84% < -2% |
| Gross Margin: 31.12% > 18% (prev 30.23%; Δ 0.89% > 0.5%) |
| Asset Turnover: 93.41% > 50% (prev 105.7%; Δ -12.30% > 0%) |
| Interest Coverage Ratio: 2.24 > 6 (EBIT TTM 5.14m / Interest Expense TTM 2.30m) |
| A: 0.55 (Total Current Assets 66.5m - Total Current Liabilities 8.69m) / Total Assets 106.0m |
| B: -1.17 (Retained Earnings -123.8m / Total Assets 106.0m) |
| C: 0.07 (EBIT TTM 5.14m / Avg Total Assets 75.7m) |
| D: 1.45 (Book Value of Equity 62.8m / Total Liabilities 43.3m) |
| Altman-Z'' = 1.75 = BBB |
| DSRI: 0.73 (Receivables 19.5m/18.1m, Revenue 70.7m/48.0m) |
| GMI: 0.97 (GM 30.23% / 31.12%) |
| AQI: 121.4 (AQ_t 0.23 / AQ_t-1 0.00) |
| SGI: 1.47 (Revenue 70.7m / 48.0m) |
| TATA: 0.04 (NI 5.00m - CFO 292k) / TA 106.0m) |
| Beneish M = 68.47 (Cap -4..+1) = D |
As of July 29, 2026, the stock is trading at USD 7.99 with a total of 531,803 shares traded. Over the past week, the price has changed by -21.59%, over one month by -21.97%, over three months by -11.42% and over the past year by +77.16%.
Current recommended Stop Loss: 6.40 (which is 19.9% or 1.6 ATR below the current price).
Electrovaya has received a consensus analysts rating of 4.60. Therefore, it is recommended to buy ELVA.
- StrongBuy: 3
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 17.8 | 122.2% |
P/E Trailing = 90.9
P/E Forward = 36.4964
P/S = 6.3169
P/B = 8.0352
P/EG = 0.6857
Revenue TTM = 70.7m USD
EBIT TTM = 5.14m USD
EBITDA TTM = 6.88m USD
Long Term Debt = 31.9m USD (from longTermDebt, last quarter)
Short Term Debt = 571k USD (from shortTermDebt, last quarter)
Debt = 36.6m USD (from shortLongTermDebtTotal, last quarter) + Leases 2.34m
Net Debt = 16.2m USD (calculated: Debt 36.6m - CCE 20.4m)
Enterprise Value = 466.3m USD (450.0m + Debt 36.6m - CCE 20.4m)
Interest Coverage Ratio = 2.24 (Ebit TTM 5.14m / Interest Expense TTM 2.30m)
EV/FCF = -13.70x (Enterprise Value 466.3m / FCF TTM -34.0m)
FCF Yield = -7.30% (FCF TTM -34.0m / Enterprise Value 466.3m)
FCF Margin = -48.11% (FCF TTM -34.0m / Revenue TTM 70.7m)
Net Margin = 7.06% (Net Income TTM 5.00m / Revenue TTM 70.7m)
Gross Margin = 31.12% ((Revenue TTM 70.7m - Cost of Revenue TTM 48.7m) / Revenue TTM)
Gross Margin QoQ = 30.97% (prev 32.88%)
Tobins Q-Ratio = 4.40 (Enterprise Value 466.3m / Total Assets 106.0m)
Interest Expense / Debt = 6.28% (Interest Expense 2.30m / Debt 36.6m)
Taxrate = 0.0% (0.0 / 1.00m)
NOPAT = 5.14m (EBIT 5.14m * (1 - 0.00%))
Current Ratio = 7.66 (Total Current Assets 66.5m / Total Current Liabilities 8.69m)
Debt / Equity = 0.58 (Debt 36.6m / totalStockholderEquity, last quarter 62.8m)
Debt / EBITDA = 2.36 (Net Debt 16.2m / EBITDA 6.88m)
Debt / FCF = -0.48 (negative FCF - burning cash) (Net Debt 16.2m / FCF TTM -34.0m)
Total Stockholder Equity = 44.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 6.60% (Net Income 5.00m / Total Assets 106.0m)
RoE = 11.32% (Net Income TTM 5.00m / Total Stockholder Equity 44.1m)
RoCE = 6.76% (EBIT 5.14m / Capital Employed (Equity 44.1m + L.T.Debt 31.9m))
RoIC = 5.45% (NOPAT 5.14m / Invested Capital 94.4m)
WACC = 11.46% (E(450.0m)/V(486.6m) * Re(11.88%) + D(36.6m)/V(486.6m) * Rd(6.28%) * (1-Tc(0.0)))
Discount Rate = 11.88% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 92.05 | Cagr: 20.69%
[DCF] Fair Price = unknown (Cash Flow -34.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.49 | # QB: 0
Revenue Correlation: 86.59 | Revenue CAGR: 21.44% | SUE: 0.05 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.02 | Chg30d=N/A | Revisions=-38% | Analysts=4
EPS current Year (2026-09-30): EPS=0.13 | Chg30d=-1.79% | Revisions=-25% | GrowthEPS=+57.5% | GrowthRev=+28.5%
EPS next Year (2027-09-30): EPS=0.34 | Chg30d=-4.49% | Revisions=-29% | GrowthEPS=+169.8% | GrowthRev=+50.8%
[Analyst] Revisions Ratio: -46% (up=2, down=8)