Vertical Aerospace Ltd. (EVTL) Key Metrics
EVTL key metrics, 2019–2025
Fiscal year ended December 31, 2025 · British poundsEVTL returns How much profit the business earns on the capital it uses.
EVTL financial health Debt, liquidity and how easily interest is covered.
EVTL efficiency & capital use Working capital cycle and where the cash goes.
EVTL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
EVTL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
EVTL key metrics in British pounds
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Returns & profitability | |||||||
| Return on equity (ROE) | — | — | — | −274.0% | −809.0% | — | −179.8% |
| Return on invested capital (ROIC) | — | — | — | −189.5% | — | −184.7% | −136.9% |
| Return on assets (ROA) | 305.0% | — | −50.9% | −49.1% | −202.5% | −152.3% | −102.4% |
| Return on tangible assets | 221.9% | — | −72.2% | −63.3% | −107.0% | −179.8% | −142.7% |
| Income quality (OCF / net income) | −0.34 | — | — | — | — | — | — |
| Financial health | |||||||
| Total debt | £191.4M | £2.2M | £2.6M | £233.7M | £114.7M | £7.3M | £1.2M |
| Cash & short-term investments | £70.2M | £22.6M | £48.7M | £122.8M | £212.7M | £839,000 | £1.0M |
| Net debt | £121.2M | −£20.4M | −£46.1M | £110.8M | −£97.9M | £6.5M | £137,000 |
| Debt / equity | — | — | — | 31.93 | 1.86 | — | 0.28 |
| Debt / assets | 1.82 | 0.05 | 0.03 | 1.54 | 0.49 | 0.82 | 0.16 |
| Net debt / EBITDA | 0.59 | — | — | — | — | — | — |
| Current ratio | 0.45 | 2.56 | 4.17 | 1.05 | 4.39 | 0.49 | 1.57 |
| Quick ratio | 0.45 | 2.56 | 3.80 | 1.57 | 4.51 | 0.81 | 2.26 |
| Interest coverage | -663.8 | -0.1 | -6.2 | -6.5 | -482.2 | -11.4 | -161.9 |
| Working capital | −£123.2M | £26.0M | £58.4M | £6.6M | £174.0M | −£4.5M | £909,000 |
| Invested capital | −£19,964 | −£519.7M | −£95.8M | £118.2M | −£36.4M | £5.6M | £4.3M |
| Tangible asset value | −£121.2M | −£499.5M | −£50.8M | £5.3M | £57.4M | −£3.0M | £2.1M |
| Net current asset value | −£126.6M | −£504.5M | −£57.1M | −£541,000 | £53.5M | −£5.5M | −£645,000 |
| Capital allocation | |||||||
| Capex / revenue | — | — | — | — | 823.1% | 446.0% | 3,002.9% |
| Capex / depreciation | 0.15 | 0.16 | 0.83 | 0.92 | 1.15 | 0.57 | 6.37 |
| Stock-based compensation / revenue | — | — | — | — | 76,975.8% | 110.3% | 0.0% |
| R&D / revenue | — | — | — | — | 18,402.3% | 11,460.9% | 7,361.4% |
| SG&A / revenue | — | — | — | — | 3,050.0% | 4,487.4% | 3,854.3% |
| Efficiency | |||||||
| Days sales outstanding | — | — | — | — | 12,285.6 | 8,254.5 | 5,923.4 |
| Days of inventory on hand | — | — | -3,508.0 | -5,271.3 | -25,339.0 | -16,151.2 | -6,055.7 |
| Days payables outstanding | 1,432.5 | 484.5 | 1,068.8 | 1,543.8 | 21,560.7 | 6,424.8 | 3,887.8 |
| Cash conversion cycle (days) | — | — | — | — | -34,614.1 | -14,321.6 | -4,020.1 |
| Receivables turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.04 | 0.06 |
| Payables turnover | 0.25 | 0.75 | 0.34 | 0.24 | 0.02 | 0.06 | 0.09 |
| Asset turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 |
| Average receivables | £19.1M | £11.1M | £11.9M | £12.5M | £4.4M | £2.0M | £1.1M |
| Average payables | £7.5M | £4.6M | £9.9M | £11.4M | £3.8M | £774,500 | £703,000 |
| Average inventory | — | — | −£32.4M | −£38.8M | −£4.4M | −£1.9M | −£1.1M |
| Intangibles / total assets | 0.0% | 0.3% | 1.2% | 1.4% | 1.8% | 22.8% | 28.2% |
Computed from EVTL's annual financial statements (latest annual report filed March 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in British pounds; data from EODHD. Averages use the opening and closing balance of each year.
EVTL valuation and financial ratios
It ended the year with £191.4 million of debt and £70.2 million in cash and short-term investments, net debt of £121.2 million.
See the EVTL income statement, the EVTL chart for price history, or the EVTL stock overview for the latest quote and news.
EVTL key metrics FAQ
How much debt does Vertical Aerospace have?
Vertical Aerospace had total debt of £191.4 million at the end of fiscal 2025 and £121.2 million of net debt (0.59 times EBITDA).
What is Vertical Aerospace's current ratio?
Vertical Aerospace's current ratio was 0.45 at the end of fiscal 2025: current assets were 0.45 times current liabilities.