Electrovaya Inc. (ELVA) Key Metrics
ELVA valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $253.5M
- Enterprise value
- $361.7M
- P/E (TTM)
- 50.7
- Forward P/E
- 26.2
- PEG ratio
- 0.43
- Price / sales
- 3.5 10-yr median 4.8
- Price / book
- 5.0 10-yr median 11.3
- EV / EBITDA
- 57.0 10-yr median 41.2
- Dividend yield
- —
- Beta
- 0.76
ELVA key metrics, FY2016–FY2025
Fiscal year ended September 30, 2025 · U.S. dollarsELVA valuation Price multiples at each fiscal year-end price.
ELVA returns How much profit the business earns on the capital it uses.
ELVA per-share figures Results divided by the shares outstanding at year-end.
ELVA financial health Debt, liquidity and how easily interest is covered.
ELVA efficiency & capital use Working capital cycle and where the cash goes.
ELVA valuation history
ELVA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ELVA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ELVA price vs earnings per share
ELVA key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $243.7M | $79.2M | $95.7M | $104.3M | $139.9M | $80.2M | $16.0M | $15.8M | $71.4M | $204.5M |
| Enterprise value | $259.9M | $99.2M | $113.7M | $126.8M | $147.2M | $91.8M | $28.5M | $42.5M | $93.3M | $211.8M |
| P/E ratio | 72.5 | — | — | — | — | 72.1 | — | — | — | — |
| Price / sales | 3.8 | 1.8 | 2.2 | 6.7 | 14.1 | 5.9 | 3.6 | 2.8 | 31.4 | 10.5 |
| Price / book | 7.8 | 9.2 | 13.4 | — | — | — | — | — | — | 25.7 |
| Price / free cash flow | — | 213.0 | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 141.9 | 76.3 | — | — | — | — | — | — | — | — |
| EV / sales | 4.1 | 2.2 | 2.6 | 8.1 | 14.8 | 6.7 | 6.5 | 7.5 | 41.0 | 10.8 |
| EV / EBITDA | 48.4 | 33.9 | 91.1 | — | — | 20.8 | — | — | — | — |
| EV / free cash flow | — | 266.8 | — | — | — | — | — | — | — | — |
| Earnings yield | 1.4% | −1.9% | −1.5% | −8.8% | −5.4% | 1.4% | −17.7% | −143.6% | −29.6% | −4.3% |
| Free cash flow yield | −3.9% | 0.5% | −6.0% | −8.7% | −6.2% | −4.9% | −17.9% | −44.4% | −26.9% | −4.3% |
| Dividend yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — |
| Share price at fiscal year-end | $5.89 | $2.33 | $2.83 | $3.55 | $5.00 | $3.35 | $0.75 | $0.80 | $4.05 | $12.20 |
| Per share | ||||||||||
| Revenue per share | $1.54 | $1.31 | $1.28 | $0.53 | $0.35 | $0.57 | $0.21 | $0.29 | $0.13 | $1.17 |
| Earnings per share | $0.08 | −$0.04 | −$0.04 | −$0.31 | −$0.27 | $0.05 | −$0.13 | −$1.15 | −$1.20 | −$0.52 |
| Operating cash flow per share | $0.04 | $0.03 | −$0.15 | −$0.30 | −$0.29 | −$0.16 | −$0.13 | −$0.35 | −$1.09 | −$0.48 |
| Free cash flow per share | −$0.23 | $0.01 | −$0.17 | −$0.31 | −$0.31 | −$0.17 | −$0.13 | −$0.35 | −$1.09 | −$0.52 |
| Cash per share | $0.15 | $0.02 | $0.03 | $0.02 | $0.15 | $0.05 | $0.02 | $0.01 | $0.19 | $0.04 |
| Book value per share | $0.75 | $0.25 | $0.21 | −$0.23 | −$0.06 | −$0.36 | −$0.67 | −$0.70 | −$0.07 | $0.47 |
| Tangible book value per share | $0.71 | $0.25 | $0.21 | −$0.23 | −$0.06 | −$0.36 | −$0.67 | −$0.70 | −$0.07 | $0.47 |
| Dividends per share | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — |
| Capex per share | $0.27 | $0.02 | $0.01 | $0.01 | $0.02 | $0.00 | $0.00 | $0.00 | $0.01 | $0.04 |
| Debt per share | $0.55 | $0.61 | $0.56 | $0.79 | $0.41 | $0.54 | $0.60 | $1.36 | $1.43 | $0.48 |
| Shares outstanding | 41.4M | 34.0M | 33.8M | 29.4M | 28.0M | 23.9M | 21.4M | 19.7M | 17.6M | 16.8M |
| Change in shares outstanding | +21.6% | +0.5% | +15.1% | +5.0% | +16.9% | +11.8% | +8.5% | +11.8% | +5.3% | +5.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 16.9% | −18.9% | −673.8% | — | — | — | — | — | — | −85.8% |
| Return on invested capital (ROIC) | 14.6% | 2.1% | 4.6% | −53.6% | −133.6% | −650.6% | — | −48.0% | −20.7% | −45.4% |
| Return on assets (ROA) | 6.5% | −3.9% | −5.0% | −49.6% | −58.8% | 17.5% | −31.7% | −88.2% | −63.8% | −30.2% |
| Return on tangible assets | 5.4% | −3.8% | −4.1% | −41.5% | −50.3% | 10.4% | −135.9% | −143.1% | −59.6% | −28.6% |
| Free cash flow margin | −14.9% | 0.8% | −13.2% | −57.8% | −87.2% | −29.0% | −65.0% | −124.3% | −843.3% | −44.6% |
| Income quality (OCF / net income) | 0.51 | — | — | — | — | −3.53 | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $22.6M | $20.8M | $19.0M | $23.1M | $11.5M | $12.8M | $12.8M | $26.8M | $25.3M | $8.0M |
| Cash & short-term investments | $6.4M | $781,000 | $1.0M | $626,000 | $4.2M | $1.1M | $333,000 | $126,000 | $3.4M | $668,000 |
| Net debt | $16.2M | $20.0M | $18.0M | $22.5M | $7.3M | $11.7M | $12.5M | $26.7M | $21.9M | $7.3M |
| Debt / equity | 0.72 | 2.42 | 2.66 | — | — | — | — | — | — | 1.01 |
| Debt / assets | 0.35 | 0.53 | 0.52 | 1.04 | 0.77 | 1.20 | 6.14 | 1.69 | 0.71 | 0.26 |
| Net debt / EBITDA | 3.02 | 6.84 | 14.42 | — | — | 2.65 | — | — | — | — |
| Current ratio | 4.16 | 1.03 | 0.97 | 0.65 | 0.89 | 0.49 | 0.13 | 0.23 | 0.88 | 1.06 |
| Quick ratio | 2.93 | 0.69 | 0.66 | 0.33 | 0.55 | 0.37 | 0.07 | 0.14 | 0.72 | 0.23 |
| Interest coverage | 2.1 | 0.2 | 0.5 | -3.2 | -2.7 | -1.3 | -3.3 | -3.0 | -1.6 | -9.9 |
| Working capital | $31.9M | $887,000 | −$705,000 | −$7.9M | −$1.4M | −$8.4M | −$14.1M | −$14.6M | −$3.2M | $1.3M |
| Invested capital | $47.3M | $28.6M | $25.1M | $15.8M | $5.6M | $3.0M | −$1.8M | $12.9M | $20.6M | $15.3M |
| Tangible asset value | $29.6M | $8.6M | $7.1M | −$6.7M | −$1.7M | −$8.7M | −$14.3M | −$13.8M | −$1.2M | $7.9M |
| Net current asset value | $9.2M | −$1.5M | −$3.5M | −$14.1M | −$4.6M | −$11.3M | −$14.3M | −$25.3M | −$14.0M | $430,000 |
| Graham number | $1.17 | — | — | — | — | — | — | — | — | — |
| Graham net-net per share | −$0.19 | −$0.49 | −$0.48 | −$0.76 | −$0.33 | −$0.64 | −$0.71 | −$1.41 | −$1.74 | −$0.65 |
| Capital allocation | ||||||||||
| Dividends paid | $0 | $0 | $0 | $0 | — | — | — | — | — | — |
| Dividend payout ratio | 0.0% | — | — | — | — | — | — | — | — | — |
| Dividends + buybacks / free cash flow | — | 0.0% | — | — | — | — | — | — | — | — |
| Capex / revenue | 17.6% | 1.5% | 1.2% | 1.3% | 5.6% | 0.3% | 0.9% | 0.0% | 4.6% | 3.1% |
| Capex / operating cash flow | 653.4% | 64.2% | — | — | — | — | — | — | — | — |
| Capex / depreciation | 7.72 | 0.55 | 0.56 | 0.40 | 1.76 | 0.19 | 0.37 | 0.00 | 0.34 | 1.06 |
| Stock-based compensation / revenue | 2.8% | 4.8% | 2.7% | 20.6% | 5.5% | 1.1% | 25.3% | 5.1% | 11.2% | 0.4% |
| R&D / revenue | 6.9% | 6.8% | 7.8% | 22.0% | 45.9% | 20.1% | 64.7% | 67.9% | 131.2% | 31.5% |
| SG&A / revenue | 13.2% | 20.2% | 15.6% | 40.1% | 45.7% | 22.3% | 88.3% | 77.6% | 85.3% | 27.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 79.7 | 89.6 | 56.9 | 49.7 | 70.5 | 37.9 | 52.1 | 55.1 | 305.3 | 69.2 |
| Days of inventory on hand | 91.6 | 106.0 | 88.5 | 177.0 | 159.5 | 57.6 | 170.4 | 274.7 | 2,966.8 | 320.5 |
| Days payables outstanding | 57.1 | 77.2 | 52.0 | 70.5 | 91.8 | 57.2 | 208.7 | 200.0 | 2,106.3 | 235.1 |
| Cash conversion cycle (days) | 114.3 | 118.5 | 93.5 | 156.1 | 138.1 | 38.3 | 13.8 | 129.7 | 1,165.7 | 154.7 |
| Receivables turnover | 4.58 | 4.07 | 6.41 | 7.34 | 5.18 | 9.63 | 7.01 | 6.63 | 1.20 | 5.27 |
| Payables turnover | 6.40 | 4.73 | 7.02 | 5.17 | 3.97 | 6.38 | 1.75 | 1.82 | 0.17 | 1.55 |
| Inventory turnover | 3.98 | 3.44 | 4.12 | 2.06 | 2.29 | 6.34 | 2.14 | 1.33 | 0.12 | 1.14 |
| Asset turnover | 1.23 | 1.17 | 1.48 | 0.84 | 0.77 | 2.15 | 0.49 | 0.22 | 0.07 | 0.67 |
| Average receivables | $13.9M | $11.0M | $6.8M | $2.1M | $1.9M | $1.4M | $631,000 | $850,000 | $1.9M | $3.7M |
| Average payables | $6.9M | $6.5M | $4.6M | $2.4M | $1.9M | $1.5M | $1.7M | $2.1M | $7.9M | $9.4M |
| Average inventory | $11.1M | $9.0M | $7.8M | $6.0M | $3.3M | $1.5M | $1.4M | $2.9M | $11.1M | $12.9M |
| Intangibles / total assets | 2.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% |
Computed from ELVA's annual financial statements (latest annual report filed December 19, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ELVA valuation and financial ratios
At the end of fiscal 2025 (September 30, 2025), Electrovaya traded at 72.5 times earnings. Based on the latest twelve months, the trailing P/E is 50.7 and the forward P/E is 26.2. Electrovaya earned a return on equity of 16.9% and a return on invested capital of 14.6% in fiscal 2025. It ended the year with $22.6 million of debt and $6.4 million in cash and short-term investments, net debt of $16.2 million. The share count rose 146.9% from 16.8M to 41.4M over 9 years.
See the ELVA income statement, the ELVA chart for price history, or the ELVA stock overview for the latest quote and news.
ELVA key metrics FAQ
What is Electrovaya's P/E ratio?
Electrovaya's trailing P/E ratio is 50.7 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 26.2. At the end of fiscal 2025 it was 72.5.
What is Electrovaya's EV/EBITDA?
Electrovaya's enterprise value was 48.4 times EBITDA at the end of fiscal 2025 (enterprise value $259.9 million, EBITDA $5.4 million); the current EV/EBITDA is 57.0.
What is Electrovaya's return on equity?
Electrovaya's return on equity (ROE) was 16.9% in fiscal 2025: net income of $3.4 million on average shareholders' equity of $19.9 million.
What is Electrovaya's ROIC?
Electrovaya's return on invested capital was 14.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Electrovaya have?
Electrovaya had total debt of $22.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.72 and $16.2 million of net debt (3.02 times EBITDA).
Does Electrovaya pay a dividend?
Electrovaya did not pay a dividend in fiscal 2025.
What is Electrovaya's free cash flow yield?
Electrovaya generated -$9.5 million of free cash flow in fiscal 2025, a free cash flow yield of −3.9% on its market value at year-end ($243.7 million).
What is Electrovaya's current ratio?
Electrovaya's current ratio was 4.16 at the end of fiscal 2025: current assets were 4.16 times current liabilities.