Joby Aviation, Inc. (JOBY) AI Stock Analysis

Joby Aviation, Inc. is a pioneering air mobility company based in Santa Cruz, California, founded in 2009. The company has embraced vertical integration to develop cutting-edge electric vertical takeoff and landing (eVTOL) aircraft designed to provide efficient and sustainable aerial mobility services. Its primary objective is to build an innovative aerial ridesharing service that delivers convenient, environmentally friendly transportation options to urban commuters. By combining advanced aerodynamics, electric propulsion systems, and noise reduction technologies, Joby Aviation focuses on safety, operational excellence, and reducing congestion and carbon emissions in densely populated urban centers.

Joby has scaled revenue from $1.0M in FY2023 to $136,000 in FY2024, before increasing to $53.4M in FY2025, reflecting a 2-year revenue CAGR of 619.5%. Revenue for the trailing twelve months reached $116.3M as of June 30, 2026, driven by a quarterly revenue increase of 257493.3% year-over-year. Operating margins were deeply negative at -45745.5% in FY2023, -438789.7% in FY2024, and -1346.9% in FY2025, with R&D expenses climbing to $581.1M in FY2025. Annual net losses expanded from -$513.0M in FY2023 to -$608.0M in FY2024 and -$929.8M in FY2025, producing diluted EPS of -$0.88 in FY2025 and trailing twelve-month EPS of -$0.97.

As of June 30, 2026, Joby Aviation held $2.26B in cash and short-term investments against total debt of $735.4M, resulting in net cash of $1.53B. The company closed the period with a current ratio of 17.98, total assets of $2.75B, and shareholders' equity of $1.77B. Operating cash flow stood at -$509.9M in FY2025, while capital expenditures reached $53.9M, leading to free cash flow of -$563.8M. Over the past five years, the company's share count increased 64.0%.

Joby Aviation trades at a price-to-sales multiple of 39.9x and an enterprise-value-to-revenue multiple of 40.5x, well above the 1.5x price-to-sales median of its US-listed Industrials peers. Its price-to-book ratio is 3.5x based on a market cap of $4.64B and enterprise value of $4.71B. Over the 1-year period, JOBY stock declined 71.0%, underperforming the S&P 500 (SPY) gain of 16.8%. Over 5 years, the stock is down 46.2% compared to an 83.0% gain for the benchmark.

Wall Street analysts cover JOBY with 2 Strong Buy, 1 Buy, 4 Hold, 2 Sell, and 2 Strong Sell ratings. The mean price target is $10.01, representing a 114.8% upside relative to the last close of $4.66 on October 16, 2026. For the fiscal year ending December 31, 2026, consensus expectations project revenue of $120.8M and an EPS of -$0.77. The company has beaten EPS estimates in 2 of the last 4 quarters, with its next earnings report scheduled for November 4, 2026.

This page is an AI-written research summary of Joby Aviation, Inc. (JOBY). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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