Joby Aviation (JOBY) AI Stock Analysis

• Market Cap: $7.13B
• Dividend Yield: N/A
• Average Volume (3M): 22.90M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.32
• Revenue Growth: -89.50%
• EPS Growth: -10.50%
• Country: US
• Employees: 2,029
• Sector: Industrials
• Sector Strength: 85
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -0.11
• Shares Outstanding: 791,798,100
• 10 Day Avg. Volume: 33,178,492
• 30 Day Avg. Volume: 22,900,545
• PEG Ratio: 0.27
• Price to Book (P/B): 1.68
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.75
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 2.82K
• Enterprise Value/Gross Profit: 117.06K
• Enterprise Value/Ebitda: -3.15
• 1Y Price Target: $8.86
• Price Target Upside: -1.56% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 54 Neutral
• Price Target: $9.00 ▲(0.00%Upside)

Joby Aviation's overall stock score is primarily impacted by its weak financial performance, reflecting persistent losses and cash flow challenges. However, strong technical momentum and positive corporate events, including strategic partnerships and substantial investments, provide some optimism. Valuation concerns persist due to negative earnings, but continued progress in certification and partnerships could support future growth.

Positive Factors

Market Development

The executive order is expected to accelerate market development for eVTOLs and drones within the public safety, defense, and military verticals.

Revenue Potential

The distribution network agreement is valued at approximately $1B, implying significant potential revenue for Joby Aviation.

Strategic Partnership

Toyota's strong confidence in Joby as a strategic partner was viewed positively by investors, with the stock being bid almost 29% higher following the announcement.

Negative Factors

Business Model Uncertainty

Investing in JOBY or other eVTOL companies requires patience and a high risk tolerance, given largely unproven business models and certification risk.

Investment Risks

There are multiple risks identified, including dilution risk, market adoption risk, supply chain risk, technological risk, execution risk, and regulatory risk, which could impact the company's performance.

Program Selection

Joby's S4 eVTOL was not selected for the under-development hybrid VTOL program being spearheaded by defense prime Anduril and airframe partner.

Joby Aviation Business Overview & Revenue Model

Company Description

Joby Aviation, Inc., a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. It intends to build an aerial ridesharing service. The company was founded in 2009 and is headquartered in Santa Cruz, California.

How the Company Makes Money

Joby Aviation plans to generate revenue primarily through its air taxi services, which will offer on-demand urban air transportation. The company intends to operate its own fleet of eVTOL aircraft, providing a direct-to-consumer service akin to ride-sharing, but in the air. Additionally, Joby may generate revenue through partnerships with transportation network companies and other strategic collaborations that integrate its air mobility services into broader transportation ecosystems. Key factors contributing to its earnings include advancements in aircraft technology, regulatory approvals, and successful scaling of its aerial ride-sharing operations.

Joby Aviation Financial Statement Overview

Summary

Joby Aviation is facing significant financial challenges, with substantial losses and cash flow deficits. The income statement reflects an inability to generate revenue and cover costs, while the balance sheet shows some stability but potential risks if liabilities increase. Cash flow analysis reveals inefficiencies and reliance on external financing. The overall financial health of the company is weak, necessitating strategic changes to improve revenue generation and cost management.

Income Statement

Joby Aviation's income statement shows persistent challenges, as evidenced by significant net losses and negative EBIT margins over the years. The company has not generated any significant revenue in most years, indicating difficulties in achieving sales growth. The absence of gross profit and negative EBIT and EBITDA margins reflect an ongoing struggle to cover operating expenses without a revenue base. These factors contribute to a very low score, highlighting substantial operational risks.

Balance Sheet

The balance sheet of Joby Aviation shows a relatively strong equity position compared to its liabilities, highlighted by a positive stockholders' equity. The debt-to-equity ratio is relatively low, indicating manageable debt levels. However, the company's equity ratio has been declining, suggesting potential risk if liabilities continue to grow or equity diminishes. Overall, the balance sheet shows some stability but raises concerns about future leverage and asset management.

Cash Flow

Joby Aviation's cash flow statement reveals challenges, with consistent negative operating and free cash flows. This indicates that the company is not generating sufficient cash from its operations to cover its expenses, relying instead on financing activities. The negative free cash flow growth rate and poor operating cash flow to net income ratio illustrate inefficiencies in cash management and operational sustainability, leading to a low score.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
111.00K	136.00K	1.03M	0.00	0.00	0.00
	Gross Profit
59.00K	69.00K	832.00K	-24.00M	-15.94M	-7.40M
	EBIT
-614.14M	-596.75M	-472.09M	-392.20M	-259.09M	-132.24M
	EBITDA
-577.94M	-561.18M	-441.60M	-233.84M	-172.49M	-106.48M
	Net Income Common Stockholders
-595.85M	-608.03M	-513.05M	-258.04M	-180.32M	-114.16M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
812.52M	932.85M	1.03B	1.06B	1.30B	445.92M
	Total Assets
1.08B	1.20B	1.27B	1.29B	1.49B	497.25M
	Total Debt
31.62M	31.21M	30.66M	27.32M	2.39M	2.64M
	Net Debt
-90.67M	-168.42M	-173.36M	-118.78M	-953.17M	-74.69M
	Total Liabilities
224.58M	291.10M	235.07M	128.24M	171.60M	780.42M
	Stockholders Equity
859.44M	912.36M	1.03B	1.16B	1.32B	-283.17M
Cash Flow		Free Cash Flow
-489.29M	-476.88M	-344.43M	-290.81M	-228.09M	-129.21M
	Operating Cash Flow
-440.60M	-436.27M	-313.83M	-235.93M	-195.75M	-105.90M
	Investing Cash Flow
89.72M	70.76M	80.30M	-630.79M	-18.74M	-393.16M
	Financing Cash Flow
362.62M	361.11M	288.24M	60.46M	1.09B	69.22M

Joby Aviation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 9.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JOBY, the sentiment is Positive. The current price of 9 is above the 20-day moving average (MA) of 7.99, above the 50-day MA of 6.99, and above the 200-day MA of 6.79, indicating a bullish trend. The MACD of 0.59 indicates Negative momentum. The RSI at 60.62 is Neutral, neither overbought nor oversold. The STOCH value of 48.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JOBY.

Joby Aviation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	66 Neutral	$4.50B	12.26	5.40%	3.65%	4.17%	-12.02%
BLDE	56 Neutral	$315.16M	―	-11.64%	―	12.04%	-30.50%
JOBY	54 Neutral	$7.13B	―	-64.96%	―	-89.50%	-10.50%
FLYX	52 Neutral	$218.75M	28.86	26.01%	―	―	―
UP	48 Neutral	$929.50M	―	-2416.94%	―	-29.68%	95.14%
SRFM	43 Neutral	$39.92M	―	138.02%	―	31.17%	83.01%
SOAR	39 Underperform	$3.43M	―	-398.23%	―	-4.90%	81.93%

Joby Aviation Corporate Events

Joby Aviation Approves Key Amendments at Annual Meeting

On June 6, 2025, Joby Aviation held its Annual Meeting of Stockholders, where key proposals were voted on, including the election of directors and amendments to the company’s Certificate of Incorporation. The amendments approved include increasing the number of authorized shares and revising provisions related to U.S. air carrier ownership, which could impact the company’s capital structure and regulatory compliance.

The most recent analyst rating on (JOBY) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Joby Aviation stock, see the JOBY Stock Forecast page.

Joby Aviation Partners with Abdul Latif Jameel for Saudi Electric Aircraft

On June 3, 2025, Joby Aviation and Abdul Latif Jameel announced a Memorandum of Understanding to explore opportunities for electric aircraft distribution in Saudi Arabia. This partnership, aligned with Saudi Arabia’s Vision 2030, could lead to the delivery of up to 200 electric aircraft valued at approximately $1 billion, aiming to enhance the Kingdom’s mobility sector and create socio-economic growth.

The most recent analyst rating on (JOBY) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Joby Aviation stock, see the JOBY Stock Forecast page.

Joby Aviation Secures $250M Investment from Toyota

On May 27, 2025, Joby Aviation announced the successful closing of a $250 million investment from Toyota Motor Corporation. This investment is aimed at supporting the certification and commercial production of Joby’s electric air taxi, marking a significant milestone in their collaboration. The funding strengthens the long-term partnership between the two companies, moving them closer to a strategic manufacturing alliance and enhancing Joby’s ability to scale its design and manufacturing processes.

The most recent analyst rating on (JOBY) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Joby Aviation stock, see the JOBY Stock Forecast page.