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Vertical Aerospace
(NYSE:EVTL)
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Rating:46Neutral
Price Target:
$0.53
▼(-31.04% Downside)
Action:Reiterated
Date:09/23/26
The score is held down primarily by weak financial performance (minimal revenue, negative equity, and heavy ongoing cash burn). Earnings-call updates provide a partial offset via tangible flight-test milestones and near-term financing that extends runway, but certification delay and funding dependence remain key risks. Technicals are broadly bearish versus longer-term averages, while valuation appears low on P/E but is less informative given the cash-flow profile.
Positive Factors
Flight-test progress
Repeated piloted transition flights and expanded prototype capacity provide tangible evidence that the VX4 program is moving beyond design work. Higher test cadence can support engineering validation, stakeholder confidence, and progress toward certification over the coming quarters.
Negative Factors
Pre-commercial economics
Minimal revenue and continuing operating deficits indicate that Vertical has not yet reached commercial scale or self-sustaining economics. The business must continue funding research, testing and certification before aircraft sales and recurring support revenue can materially develop.
Read all positive and negative factors
Positive Factors
Negative Factors
Flight-test progress
Repeated piloted transition flights and expanded prototype capacity provide tangible evidence that the VX4 program is moving beyond design work. Higher test cadence can support engineering validation, stakeholder confidence, and progress toward certification over the coming quarters.
Read all positive factors
Vertical Aerospace (EVTL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$100.16M
Dividend YieldN/A
Average Volume (3M)5.50M
Price to Earnings (P/E)3.4
Beta (1Y)3.46
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees444
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)0.12
Shares Outstanding168,640,930
10 Day Avg. Volume6,261,217
30 Day Avg. Volume5,503,367
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)-2.89
Price to Sales (P/S)0.00
P/FCF Ratio-4.47
Enterprise Value/Market Cap2.93
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-29.63
Enterprise Value/Ebitda5.76
Forecast
1Y Price Target
$9.67Price Target Upside1155.41% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.85
Revenue Forecast (FY)N/A
Vertical Aerospace Business Overview & Revenue Model
Company Description
Vertical Aerospace Ltd. is a company dedicated to the creation, manufacturing, and distribution of electrically powered aerial vehicles. Their primary product is the VX4, an innovative aircraft designed for electric vertical take-off and landing (...
How the Company Makes Money
Vertical Aerospace’s business model is centered on monetizing the VX4 eVTOL program primarily through aircraft sales and related aviation services once the aircraft is certified and enters commercial service. Key revenue streams are expected to in...
Vertical Aerospace Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Neutral
The call presented strong technical and operational progress (historic piloted transitions, public demonstrations, two full-scale prototypes, ecosystem partnerships, and a defined milestone roadmap) and secured near-term financing and government support to extend runway. However, the business faces meaningful near-term risks: certification timing has been delayed by about one year, cash burn is high with runway only extended toward the end of Q3 2027 absent further funding, and commercialization depends on converting conditional financing, regulatory validations and selective customer commitments. Highlights demonstrate clear program momentum and de-risking in many technical and ecosystem areas, while lowlights emphasize financing and timing uncertainties that could affect pace of commercialization.Positive Updates
Historic Flight Test Milestones
Completed the first two-way piloted transition flight under U.K. CAA oversight (April 2026) and multiple subsequent transitions; final full-scale prototype began piloted flight testing in June 2026, effectively doubling flight test capacity; achieved five consecutive public transition/display flights at Farnborough, demonstrating repeatable operations in varying conditions.
Negative Updates
Certification Timeline Delay
Certification target was nudged from 2028 to 2029. Management attributed the ~1-year shift primarily to a delayed transition phase (a quarter late) that tied up engineering resources and postponed certification-focused work.
Read all updates
Q2-2026 Updates
Positive
Negative
Historic Flight Test Milestones
Completed the first two-way piloted transition flight under U.K. CAA oversight (April 2026) and multiple subsequent transitions; final full-scale prototype began piloted flight testing in June 2026, effectively doubling flight test capacity; achieved five consecutive public transition/display flights at Farnborough, demonstrating repeatable operations in varying conditions.
Read all positive updates
Company Guidance
Vertical's guidance: complete aircraft-level Critical Design Review (CDR) by end‑2026 (Q4), select the hybrid turbo‑generator in H2 2026 and begin hybrid flight testing (retrofit of Prototype 3) in H1 2027, target type certification in 2029 via the U.K. CAA/EASA (SC‑VTOL/AAA pathway), open pilot assembly at Cotswold in Q3 2026 and the expanded Vertical Energy Center (VEC2) in Q4 2026 to triple battery production, and initially build seven Valo production aircraft (plus hybrid variants) while supporting ~700 direct skilled jobs by 2030; financially, the company announced an ~$100M gross financing package ( $35M underwritten equity, $40M Mudrick acceleration [$5M draw + $35M accelerated], $25M Yorkville preferred draw), has ~$134M cash on hand (expect ~ $148M after receipts), expects ~ $150M net cash outflows over the next 12 months (H1 operating cash used $112M), has an ~$850M financing framework (≈$700M remaining Yorkville capacity), and U.K. government support totaling ≈$100M (including a potential additional grant up to $30.5M), extending runway toward the end of Q3 2027; operationally they now have two full‑scale piloted prototypes and demonstrated five consecutive public transition flights at Farnborough to ~140,000 attendees.Vertical Aerospace Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
9
Very Negative
Cash Flow
12
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 132.00K |
| Gross Profit | -9.89M | 0.00 | 0.00 | 0.00 | 0.00 | 68.00K |
| EBITDA | 50.88M | 204.74M | -73.44M | -63.53M | -77.15M | -245.22M |
| Net Income | 111.60M | 232.93M | -781.24M | -59.95M | -94.38M | -245.22M |
Balance Sheet | ||||||
| Total Assets | 100.18M | 104.99M | 47.73M | 84.08M | 151.24M | 233.33M |
| Cash, Cash Equivalents and Short-Term Investments | 49.71M | 70.18M | 22.56M | 48.68M | 122.81M | 212.66M |
| Total Debt | 95.82M | 191.39M | 2.20M | 2.62M | 233.66M | 114.74M |
| Total Liabilities | 134.36M | 226.22M | 547.07M | 133.86M | 143.92M | 171.77M |
| Stockholders Equity | -34.18M | -121.23M | -499.34M | -49.78M | 7.32M | 61.56M |
Cash Flow | ||||||
| Free Cash Flow | -148.76M | -78.40M | -46.72M | -76.96M | -105.72M | -38.98M |
| Operating Cash Flow | -147.31M | -78.11M | -46.29M | -74.70M | -103.71M | -37.89M |
| Investing Cash Flow | -717.78K | -283.64K | 1.73M | 61.38M | -62.96M | -4.61M |
| Financing Cash Flow | 146.43M | 125.01M | 18.77M | 169.00K | 7.25M | 336.55M |
Vertical Aerospace Technical Analysis
Negative
0.77
Price Trends
0.81
Negative
1.44
Negative
2.74
Negative
Market Momentum
-0.06
Negative
34.51
Neutral
2.76
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EVTL, the sentiment is Negative. The current price of 0.77 is above the 20-day moving average (MA) of 0.62, below the 50-day MA of 0.81, and below the 200-day MA of 2.74, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 34.51 is Neutral, neither overbought nor oversold. The STOCH value of 2.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EVTL.
Vertical Aerospace Risk Analysis
Vertical Aerospace disclosed 79 risk factors in its most recent earnings report. Vertical Aerospace reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Vertical Aerospace Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | $3.77B | -4.37 | -40.86% | ― | ― | 15.37% | |
48 Neutral | $5.19B | -4.53 | -57.71% | ― | ― | ― | |
46 Neutral | $100.16M | 3.42 | -171.87% | ― | ― | ― | |
46 Neutral | $606.37M | -2.74 | -221.18% | ― | ― | 1.65% | |
45 Neutral | $313.79M | -2.74 | -36.65% | ― | -3.42% | -3.03% | |
45 Neutral | $112.77M | -2.84 | -90.30% | ― | ― | -343.52% |
* Industrials Sector Average
EVTL
Vertical Aerospace
0.54
-5.41
-90.89%
EH
Ehang Holdings
4.03
-14.44
-78.18%
EVEX
Eve Holding
1.70
-3.05
-64.21%
ACHR
Archer Aviation
4.72
-7.76
-62.18%
HOVR
New Horizon Aircraft
1.63
-1.27
-43.79%
BETA
BETA Technologies, Inc. Class A
20.70
-15.30
-42.50%
Vertical Aerospace Corporate Events
Vertical Aerospace reshapes board with U.S. defence veteran Clyde Woltman as director
Oct 5, 2026
On 5 October 2026, Vertical Aerospace appointed Clyde M. Woltman, former CEO of Leonardo Helicopters US and a retired U.S. Marine Corps Colonel, to its Board of Directors, further bolstering its expertise in defence, government and aerospace comme...
Vertical Aerospace Faces NYSE Compliance Deadline After Sub-$1 Share Price
Oct 2, 2026
On September 9, 2026, Vertical Aerospace received a notice from the New York Stock Exchange that its ordinary shares had traded below the required $1.00 average closing price over 30 consecutive sessions, placing the company out of compliance with...
Vertical Aerospace Starts Strategic Review After Milestone eVTOL Progress
Sep 24, 2026
On 24 September 2026, Vertical Aerospace said it had launched a review of strategic alternatives, exploring potential strategic and financial partnerships to fund its next phase of development. The company has appointed Jefferies as financial advi...
Vertical Aerospace names former Airbus chief Fabrice Brégier as chair to drive eVTOL and defence push
Sep 21, 2026
Vertical Aerospace, a developer of zero-emission eVTOL aircraft and hybrid-electric variants, is targeting certification and commercialisation of its Valo platform while expanding into defence, autonomous flight and supporting charging infrastruct...
Vertical Aerospace Signs Marketing Deal with Outside The Box Capital
Sep 18, 2026
On September 16, 2026, Vertical Aerospace, through its wholly owned subsidiary Vertical Aerospace Group Limited, entered into a Marketing Services Agreement with Outside The Box Capital Inc. The deal engages OTB to deliver marketing and distributi...
Vertical Aerospace shareholders approve new governance terms for largest investor at 2026 AGM
Sep 11, 2026
On September 11, 2026, Vertical Aerospace held its Annual General Meeting, with shareholders representing 56.71% of voting power in attendance. Investors ratified PricewaterhouseCoopers LLP as auditor for 2026 and approved an increase of 2,767,806...
Vertical Aerospace Sets September 11 AGM to Reshape Incentives and Governance
Aug 18, 2026
Vertical Aerospace Ltd. has called its 2026 Annual General Meeting of shareholders for September 11, 2026, in Bristol, with holders of ordinary and Series A convertible preferred shares of record as of August 18, 2026 entitled to vote on a series ...
Vertical Aerospace Advances Valo eVTOL Program and Secures Fresh Financing in H1 2026
Aug 13, 2026
Vertical Aerospace reported major operational progress during the first half of 2026, highlighted by piloted transition flights with two full-scale tiltrotor eVTOL prototypes and five days of public demonstration flights at the Farnborough Interna...
Vertical Aerospace Resets Convertible Terms and Accelerates $35 Million Mudrick Funding Draw
Aug 13, 2026
On August 12, 2026, Vertical Aerospace amended the indenture governing its 10.00% / 12.00% Convertible Senior Secured PIK Toggle Notes, cutting the conversion price from $3.50 to $1.30 per share, and signed an amended and restated convertible note...
Vertical Aerospace Secures $100 Million Financing to Advance Valo eVTOL Programme
Aug 10, 2026
Vertical Aerospace, a NYSE-listed electric aviation specialist, has secured financing commitments of about $100 million from existing and new investors, announced on August 10, 2026, to strengthen its balance sheet and advance its Valo eVTOL progr...
Vertical Aerospace Raises $56 Million via Equity and Convertible Preferred Offerings
Aug 10, 2026
On August 10, 2026, Vertical Aerospace priced an underwritten registered direct equity offering of around $35 million in units, each comprising one ordinary share and one Tranche C warrant, at $1.05 per unit with Jefferies LLC as underwriter. The ...
Vertical Aerospace Strikes $100 Million Financing Framework with Mudrick and Yorkville
Aug 10, 2026
Vertical Aerospace, the UK eVTOL aircraft developer, reported that as of June 30, 2026 it held approximately £50 million ($66 million) in cash and cash equivalents, with 138.4 million ordinary shares outstanding. The company remains in an inv...
Vertical Aerospace Secures Expanded UK Flight Permit and Pushes Valo Certification Target to 2029
Jul 13, 2026
Vertical Aerospace announced on July 13, 2026 that it has achieved key technical and regulatory milestones in the development of its Valo electric aircraft programme, including multiple successful piloted transition flights completed since April 2...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.