Joby Aviation, Inc.
JOBY· NYSE· Aircraft
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- -1055.3%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- –
We record prices for the companies we cover; JOBY is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 826.2M
- Revenue
- $53.4M
- Free cash flow
- -$563.8M
- Owner earnings
- -$691.7M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- -1346.9%
- Net
- -1740.5%
- Free cash flow
- -1055.3%
- Owner earnings
- -1294.7%
- Stock pay
- 239.4%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- -66.0%
- ROE, 5 yr avg
- -43.6%
Growth (CAGR)
- Revenue, 3 yr
- –
- Revenue, 5 yr
- –
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
Financial health · FY2025
- Cash and investments
- $1.4B
- Total debt
- –
- Net cash
- –
- Debt/Equity
- –
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 51.4%
Financials: ten years from the 10-Ks
Revenue
$53.4M
FY2025
FY2020FY2025
Margins
Operating-1346.9%Net-1740.5%
FY2025
FY2020FY2025
Free cash flow and owner earnings
Free cash flow-$563.8MOwner earnings-$691.7M
FY2025
FY2020FY2025
Diluted shares
826.2M
+694.9% over 5 years, net dilution
FY2020FY2025
Every figure, year by year
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| The business | ||||||
| Revenue | – | $0 | $0 | $1.0M | $136.0K | $53.4M |
| Revenue growth | – | – | – | – | -86.8% | 39183.1% |
| Gross margin | – | – | – | – | – | – |
| Operating margin | – | – | – | -45745.5% | -438789.7% | -1346.9% |
| Net income | -$114.2M | -$180.3M | -$258.0M | -$513.0M | -$608.0M | -$929.8M |
| Net margin | – | – | – | -49714.1% | -447083.8% | -1740.5% |
| Diluted EPS | $-1.10 | $-0.61 | $-0.44 | $-0.79 | $-0.87 | $-1.13 |
| Return on invested capital? | – | – | – | – | – | – |
| Cash | ||||||
| Operating cash flow | -$105.9M | -$195.7M | -$235.9M | -$313.8M | -$436.3M | -$509.9M |
| Capital expenditure | $23.7M | $32.3M | $54.9M | $30.6M | $40.6M | $53.9M |
| Free cash flow | -$129.6M | -$228.1M | -$290.8M | -$344.4M | -$476.9M | -$563.8M |
| Stock-based compensation | $7.2M | $26.9M | $69.1M | $93.6M | $104.4M | $127.9M |
| Owner earnings? | -$136.8M | -$255.0M | -$359.9M | -$438.1M | -$581.3M | -$691.7M |
| Free cash flow per share | $-1.25 | $-0.77 | $-0.50 | $-0.53 | $-0.68 | $-0.68 |
| Capital allocation | ||||||
| Dividends paid | – | – | – | – | – | – |
| Share repurchases | – | – | – | – | – | – |
| Diluted shares | 103.9M | 294.9M | 585.5M | 647.9M | 699.8M | 826.2M |
| Share count change? | – | 183.7% | 98.6% | 10.7% | 8.0% | 18.1% |
| Balance sheet | ||||||
| Cash and equivalents | $77.3M | $955.6M | $146.1M | $204.0M | $199.6M | $240.8M |
| Short-term investments | $368.6M | $343.2M | $910.7M | $828.2M | $733.2M | $1.2B |
| Total debt | – | – | – | – | – | – |
| Net debt | – | – | – | – | – | – |
| Shareholders' equity | -$283.2M | $1.3B | $1.2B | $1.0B | $912.4M | $1.4B |
Latest filings
| 2026-08-06 | 10-Q | Quarterly report |
| 2026-08-05 | 8-K | Earnings release |
| 2026-05-06 | 10-Q | Quarterly report |
| 2026-05-05 | 8-K | Earnings release |
| 2026-04-21 | DEF 14A | Proxy statement |
| 2026-02-27 | 10-K | Annual report |
| 2026-02-25 | 8-K | Earnings release |
| 2026-02-02 | 8-K | Earnings release |
| 2025-11-06 | 10-Q | Quarterly report |
| 2025-11-05 | 8-K | Earnings release |
More from our coverage
- MSFTPlatforms8.4MicrosoftThe most entrenched software franchise in the enterprise, now spending its cash flow on AI capacity; a great business we would own with a margin of safety, not at any price.Base value $410.29
- NVDAAI infrastructure8.4NVIDIAThe best business in technology at the top of its cycle: the moat is CUDA as much as silicon, but today's margins are a peak, not a floor.Base value $104.32
- AAPLHardware7.6AppleOne of the highest-quality businesses in the world growing in the low single digits; the price usually assumes more growth than the numbers show.Base value $134.27
- GOOGLPlatforms7.4AlphabetSearch pays for everything, and AI is both its biggest threat and its biggest opportunity; the price has to allow for search being worth less than it was.Base value $209.60
- NOWSoftware7.4ServiceNowA rare enterprise platform still growing above 20% with high retention; the free cash flow is real but stock pay takes a large share of it.Base value $189.13
- ADBESoftware7.4AdobeSuperb margins and a shrinking share count, priced for decline; the question is whether AI makes Adobe's tools more valuable or makes them unnecessary.Base value $449.35