(ELVA) Electrovaya - Overview
Sector: Industrials | Industry: Electrical Equipment & Parts | Exchange: NASDAQ (USA) | Market Cap: 579m USD | Total Return: 300.7% in 12m
Avg Turnover: 5.17M
Qual. Beats: 0
Rev. Trend: 86.6%
Qual. Beats: 0
Warnings
P/E ratio 106.3
Share dilution 28.8% YoY
Beneish M-Score 1.00 > -1.5 - likely earnings manipulation
Tailwinds
Rs Leader, Idiosyncratic Leader
Electrovaya Inc. (ELVA) designs and manufactures lithium-ion battery systems and management software for clean transportation and industrial energy storage. The company specializes in high-cycle life Infinity batteries and is developing solid-state technology to address the evolving requirements of the heavy-duty electric vehicle market. Its product portfolio serves diverse sectors including material handling, defense, and robotics.
The company utilizes a vertically integrated business model, controlling the engineering of both hardware and battery management systems to optimize safety and longevity. This approach is critical in the Material Handling Equipment (MHEV) sector, where high-utilization environments like warehouses require batteries capable of rapid charging and long operational lifespans. As global logistics firms transition away from lead-acid and internal combustion power, demand for modular lithium-ion solutions continues to scale.
For a detailed breakdown of the companys valuation metrics and risk factors, review the latest reports on ValueRay. Electrovaya operates out of Mississauga, Canada, and maintains a strategic focus on providing high-voltage systems for electric buses, trucks, and specialized industrial applications across North America.
- Material handling equipment sector demand drives core lithium-ion battery revenue growth
- Jamestown gigafactory development progress impacts long-term production capacity and capital expenditure
- Battery management system performance differentiation maintains proprietary technology competitive advantage
- Solid-state battery research milestones influence future valuation and strategic partnership potential
| Net Income: 5.00m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.32 > 0.02 and ΔFCF/TA -25.62 > 1.0 |
| NWC/Revenue: 82.01% < 20% (prev 54.64%; Δ 27.38% < -1%) |
| CFO/TA 0.00 > 3% & CFO 292k > Net Income 5.00m |
| Net Debt (13.5m) to EBITDA (6.86m): 1.97 < 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: 93.51% > 50% (prev 105.7%; Δ -12.20% > 0%) |
| Interest Coverage Ratio: 2.23 > 6 (EBIT TTM 5.12m / Interest Expense TTM 2.30m) |
| A: 0.55 (Total Current Assets 66.7m - Total Current Liabilities 8.72m) / Total Assets 105.9m |
| B: -1.17 (Retained Earnings -124.2m / Total Assets 105.9m) |
| C: 0.07 (EBIT TTM 5.12m / Avg Total Assets 75.6m) |
| D: 1.47 (Book Value of Equity 63.0m / Total Liabilities 42.9m) |
| Altman-Z'' = 1.77 = BBB |
| DSRI: 0.73 (Receivables 19.5m/18.1m, Revenue 70.7m/48.0m) |
| GMI: 0.97 (GM 30.23% / 31.12%) |
| AQI: 119.4 (AQ_t 0.22 / AQ_t-1 0.00) |
| SGI: 1.47 (Revenue 70.7m / 48.0m) |
| TATA: 0.04 (NI 5.00m - CFO 292k) / TA 105.9m) |
| Beneish M = 67.29 (Cap -4..+1) = D |
As of June 03, 2026, the stock is trading at USD 12.26 with a total of 689,986 shares traded.
Over the past week, the price has changed by +5.24%,
over one month by +29.74%,
over three months by +58.81% and
over the past year by +300.65%.
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 | 13.2 | 7.7% |
P/E Trailing = 106.2727
P/E Forward = 84.7458
P/S = 8.1237
P/B = 9.2377
P/EG = 1.4408
Revenue TTM = 70.7m USD
EBIT TTM = 5.12m USD
EBITDA TTM = 6.86m USD
Long Term Debt = 31.9m USD (from longTermDebt, last quarter)
Short Term Debt = 1.17m USD (from shortTermDebt, last quarter)
Debt = 37.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 2.34m
Net Debt = 13.5m USD (calculated: Debt 37.1m - CCE 23.6m)
Enterprise Value = 592.2m USD (578.7m + Debt 37.1m - CCE 23.6m)
Interest Coverage Ratio = 2.23 (Ebit TTM 5.12m / Interest Expense TTM 2.30m)
EV/FCF = -17.40x (Enterprise Value 592.2m / FCF TTM -34.0m)
FCF Yield = -5.75% (FCF TTM -34.0m / Enterprise Value 592.2m)
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 = 5.59 (Enterprise Value 592.2m / Total Assets 105.9m)
Interest Expense / Debt = 6.19% (Interest Expense 2.30m / Debt 37.1m)
Taxrate = 0.0% (0.0 / 1.00m)
NOPAT = 5.12m (EBIT 5.12m * (1 - 0.00%))
Current Ratio = 7.66 (Total Current Assets 66.7m / Total Current Liabilities 8.72m)
Debt / Equity = 0.59 (Debt 37.1m / totalStockholderEquity, last quarter 63.0m)
Debt / EBITDA = 1.97 (Net Debt 13.5m / EBITDA 6.86m)
Debt / FCF = -0.40 (negative FCF - burning cash) (Net Debt 13.5m / FCF TTM -34.0m)
Total Stockholder Equity = 44.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 6.61% (Net Income 5.00m / Total Assets 105.9m)
RoE = 11.31% (Net Income TTM 5.00m / Total Stockholder Equity 44.2m)
RoCE = 6.73% (EBIT 5.12m / Capital Employed (Equity 44.2m + L.T.Debt 31.9m))
RoIC = 5.40% (NOPAT 5.12m / Invested Capital 94.8m)
WACC = 9.72% (E(578.7m)/V(615.8m) * Re(9.95%) + D(37.1m)/V(615.8m) * Rd(6.19%) * (1-Tc(0.0)))
Discount Rate = 9.95% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 86.67 | 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=0.03 | Chg30d=N/A | Revisions=-33% | Analysts=5
EPS current Year (2026-09-30): EPS=0.13 | Chg30d=-8.36% | Revisions=-20% | GrowthEPS=+60.4% | GrowthRev=+30.4%
EPS next Year (2027-09-30): EPS=0.36 | Chg30d=-2.20% | Revisions=-25% | GrowthEPS=+177.4% | GrowthRev=+48.1%
[Analyst] Revisions Ratio: -33%