Joby Aviation, Inc. (JOBY) Key Metrics
JOBY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.64B
- Enterprise value
- $4.71B
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 39.9
- Price / book
- 3.5 10-yr median 4.2
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 2.66
JOBY key metrics, 2020–2025
Fiscal year ended December 31, 2025 · U.S. dollarsJOBY valuation Price multiples at each fiscal year-end price.
JOBY returns How much profit the business earns on the capital it uses.
JOBY per-share figures Results divided by the shares outstanding at year-end.
JOBY financial health Debt, liquidity and how easily interest is covered.
JOBY efficiency & capital use Working capital cycle and where the cash goes.
JOBY valuation history
JOBY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
JOBY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
JOBY cash returned to shareholders
JOBY price vs earnings per share
JOBY key metrics
2020–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Valuation | ||||||
| Market capitalization | $10.91B | $5.69B | $4.31B | $1.96B | $4.32B | $6.98B |
| Enterprise value | $9.56B | $4.79B | $3.31B | $932.1M | $3.02B | $6.54B |
| Price / sales | 204.1 | — | — | — | — | — |
| Price / book | 7.7 | 6.2 | 4.2 | 1.7 | 3.3 | — |
| EV / sales | 178.9 | — | — | — | — | — |
| Earnings yield | −8.5% | −10.7% | −11.9% | −13.2% | −4.2% | −1.6% |
| Free cash flow yield | −5.2% | −8.4% | −8.0% | −14.8% | −5.3% | −1.9% |
| Dividend yield | — | — | 0.2% | — | — | — |
| Shareholder yield (dividends + buybacks) | — | 0.0% | 0.2% | 0.0% | 0.0% | — |
| Share price at fiscal year-end | $13.20 | $8.13 | $6.65 | $3.35 | $7.30 | $11.56 |
| Per share | ||||||
| Revenue per share | $0.06 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Earnings per share | −$1.13 | −$0.87 | −$0.79 | −$0.44 | −$0.30 | −$0.19 |
| Operating cash flow per share | −$0.62 | −$0.62 | −$0.48 | −$0.40 | −$0.33 | −$0.18 |
| Free cash flow per share | −$0.68 | −$0.68 | −$0.53 | −$0.50 | −$0.39 | −$0.21 |
| Cash per share | $1.70 | $1.33 | $1.59 | $1.80 | $2.20 | $0.74 |
| Book value per share | $1.71 | $1.30 | $1.60 | $1.99 | $2.23 | −$0.47 |
| Tangible book value per share | $1.58 | $1.27 | $1.56 | $1.94 | $2.18 | −$0.47 |
| Dividends per share | — | — | $0.01 | — | — | — |
| Capex per share | $0.07 | $0.06 | $0.05 | $0.09 | $0.05 | $0.04 |
| Debt per share | $0.07 | $0.04 | $0.05 | $0.05 | $0.00 | $0.00 |
| Shares outstanding | 826.2M | 699.8M | 647.9M | 585.5M | 591.5M | 603.9M |
| Change in shares outstanding | +18.1% | +8.0% | +10.7% | −1.0% | −2.1% | — |
| Returns & profitability | ||||||
| Return on equity (ROE) | −80.1% | −62.5% | −46.7% | −20.8% | −34.9% | — |
| Return on invested capital (ROIC) | — | — | −443.9% | −398.2% | — | — |
| Return on assets (ROA) | −62.0% | −49.2% | −40.0% | −18.6% | −18.2% | −23.0% |
| Return on tangible assets | −55.1% | −51.5% | −41.1% | −20.4% | −12.3% | −23.0% |
| Financial health | ||||||
| Total debt | $60.7M | $31.2M | $30.7M | $27.3M | $2.4M | $2.6M |
| Cash & short-term investments | $1.41B | $932.9M | $1.03B | $1.06B | $1.30B | $445.9M |
| Net debt | −$1.35B | −$901.6M | −$1.00B | −$1.03B | −$1.30B | −$443.3M |
| Debt / equity | 0.04 | 0.03 | 0.03 | 0.02 | 0.00 | — |
| Debt / assets | 0.03 | 0.03 | 0.02 | 0.02 | 0.00 | 0.01 |
| Current ratio | 24.09 | 20.14 | 23.39 | 35.90 | 95.22 | 56.36 |
| Quick ratio | 24.09 | 20.14 | 23.39 | 35.16 | 94.00 | 56.01 |
| Interest coverage | — | — | — | — | -106.8 | -531.1 |
| Working capital | $1.39B | $921.5M | $1.01B | $1.05B | $1.30B | $443.2M |
| Invested capital | $62.3M | $10.7M | $32.8M | $135.3M | $20.3M | −$726.4M |
| Tangible asset value | $1.30B | $889.9M | $1.01B | $1.14B | $1.29B | −$283.2M |
| Net current asset value | $1.06B | $678.5M | $820.7M | $955.9M | $1.15B | −$329.2M |
| Graham net-net per share | $1.24 | $0.93 | $1.24 | $1.61 | $1.92 | −$0.55 |
| Capital allocation | ||||||
| Dividends paid | — | — | $9.0M | — | — | — |
| Share buybacks (net) | — | $0 | $0 | $0 | $0 | — |
| Capex / revenue | 100.9% | 29,865.4% | 2,964.8% | — | — | — |
| Capex / depreciation | 1.34 | 1.14 | 1.00 | 2.29 | 2.03 | 3.15 |
| Stock-based compensation / revenue | 239.4% | 76,798.5% | 9,073.3% | — | — | — |
| R&D / revenue | 1,087.7% | 350,850.0% | 35,566.8% | — | — | — |
| SG&A / revenue | 304.3% | 87,990.4% | 10,259.4% | — | — | — |
| Efficiency | ||||||
| Days sales outstanding | 79.2 | 27,781.6 | 1,535.0 | — | — | — |
| Days of inventory on hand | — | — | — | 296.7 | 224.4 | 139.4 |
| Days payables outstanding | 20.7 | 19,794.4 | 9,778.4 | 86.3 | 98.0 | 242.9 |
| Cash conversion cycle (days) | 58.5 | 7,987.2 | -8,243.4 | — | — | — |
| Receivables turnover | 4.61 | 0.01 | 0.24 | 0.00 | 0.00 | 0.00 |
| Payables turnover | 17.67 | 0.02 | 0.04 | 4.23 | 3.72 | 1.50 |
| Inventory turnover | — | — | — | 1.23 | 1.63 | 2.62 |
| Asset turnover | 0.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Average receivables | $11.6M | $10.4M | $4.3M | $3.2M | $2.3M | $2.2M |
| Average payables | $3.9M | $3.6M | $5.4M | $5.7M | $4.3M | $4.9M |
| Average inventory | — | — | — | $19.5M | $9.8M | $2.8M |
| Intangibles / total assets | 6.0% | 1.9% | 1.6% | 2.1% | 1.7% | 0.0% |
Computed from JOBY's annual financial statements (latest annual report filed February 27, 2026) 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.
JOBY valuation and financial ratios
Joby Aviation earned a return on equity of −80.1% in fiscal 2025. It ended the year with $60.7 million of debt and $1.4 billion in cash and short-term investments, a net cash position of $1.3 billion. The share count rose 36.8% from 603.9M to 826.2M over 5 years.
See the JOBY income statement, the JOBY chart for price history, or the JOBY stock overview for the latest quote and news.
JOBY key metrics FAQ
What is Joby Aviation's return on equity?
Joby Aviation's return on equity (ROE) was −80.1% in fiscal 2025: net income of -$929.8 million on average shareholders' equity of $1.2 billion.
How much debt does Joby Aviation have?
Joby Aviation had total debt of $60.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.04 and more cash than debt.
What is Joby Aviation's free cash flow yield?
Joby Aviation generated -$563.8 million of free cash flow in fiscal 2025, a free cash flow yield of −5.2% on its market value at year-end ($10.9 billion).
What is Joby Aviation's current ratio?
Joby Aviation's current ratio was 24.09 at the end of fiscal 2025: current assets were 24.09 times current liabilities.