JOBY
Joby Aviation, Inc.
Industrials • CIK: 0001819848
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Market Cap
$12.68B
P/E (TTM)
-12.0x
Rev Growth (TTM)
+1934.5%
Net Margin (TTM)
-4657.2%
FCF Yield (TTM)
-4.2%
FCF Margin (TTM)
-2352.7%
Cash Flow Health
Free Cash Flow0/8 positive
TTM$-533M
Q3 '25
$-152M-28%
Q2 '25
$-119M+6%
FCF Margin
TTM-2352.7%
Q3 '25-674.3%+100%
Sector: 5.4%Below Avg
OCF Margin-2107.5%
OCF/NI0.45x
CapEx Coverage-8.6x
FCF Yield-4.2%
FCF Growth (2Y)–
Cash Conversion Cycle
0 days
DSO: 0+DIO: –−DPO: –
Capital Allocation & Returns
Total Shareholder Yield
TTM0.0%
Div Yield0.0%
Insufficient data
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$-532.8M
Capital Return / FCF0.0%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
-62.4%
Moderate
-0.2% YoY-16.6%
P25MedianP75
25th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
-2925.9%
Asset Turnover
0.02x
8Q: 0.00x
Leverage (1+D/E)
1.00x
D/E: 0.00x
DuPont: -56.2% ≈ -62.4% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
0.18x
8Q:0.00x
+35.9%
Invested Cap Turn
0.02x
8Q:0.00x
+4.2%
CapEx Intensity
5.2%
8Q:4.4%
CapEx/Depreciation
1.44x
Depreciation Rate Trend
⚠ Declining -4.2%
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $22.6M | $22.6M↑150393.3% | $15.0K | $0↓100.0% | $55.0K↑96.4% | $28.0K↓0.0% | $28.0K↑12.0% | $25.0K↓97.6% | $1.0M |
Operating Income | $-662.7M | $-181.7M↓8.2% | $-167.9M↓2.8% | $-163.3M↓8.9% | $-149.9M↑4.4% | $-156.7M↓8.6% | $-144.3M↑1.1% | $-145.9M↓13.8% | $-128.2M |
Net Income | $-1.1B | $-401.2M↓23.6% | $-324.7M↓294.0% | $-82.4M↑66.5% | $-246.3M↓71.2% | $-143.9M↓16.7% | $-123.3M↓30.3% | $-94.6M↑17.8% | $-115.1M |
Operating Cash Flow | $-477.2M | $-139.2M↓30.6% | $-106.6M↑4.0% | $-111.0M↑7.9% | $-120.5M↓9.2% | $-110.3M↓11.6% | $-98.8M↑7.3% | $-106.6M↓27.9% | $-83.3M |
Free Cash Flow | $-532.8M | $-152.2M↓28.2% | $-118.7M↑5.7% | $-125.9M↑7.4% | $-135.9M↓13.1% | $-120.2M↓12.0% | $-107.3M↑5.5% | $-113.5M↓24.5% | $-91.2M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
-12.0x
Volatile
8Q: -31.0x+184%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
-12.0x
vs – sector
Cash Flow
-11.9x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: -62.4%
Shareholder Returns
Dividend
–
Buyback
–
Total Yield
–
Market Cap$12.68B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
-151/100
Below Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
-1.2%
8Q:–
Return on Invested Capital (ROIC)Below Avg
-62.4%
8Q:–
-16.6%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: -2925.9%
Asset Turnover: 0.02x
Earnings Quality
Cash Conversion
0.45x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover0.02x
Working Capital
Cash Conversion Cycle0 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
70/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
1934.5%
OpInc Growth YoY
-15.9%
EPS Growth YoY
-91.4%
FCF 3Y CAGR
N/A
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
—
Operating
-2926.6%
Below Avg in sector
Net
-4657.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+2304.5 pts
FCF: -2352.7% | Net: -4657.2%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $978.12M
Interest Coverage
–
+Net cash position: $978.12M
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis