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EHang Holdings Limited Unsponsored ADR

EH Industrials Aerospace & Defense

EHang Holdings Limited Unsponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $59.8 million, down 4.36% from fiscal 2024. In the quarter to June 2026, revenue fell 44.1%, EPS fell 50.0%, free cash flow fell 1,807.1% and total debt rose 96.6%, each against the same quarter a year earlier.

3.61 0.29 −7.44%
Market cap
$219.5M
P/E
0.0×
Fwd P/E
−22.4×
Dividend yield
—
F-score
3/9
Altman Z
2.95
Beneish M
−1.61
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 27.04%

Capital & Financial Ratios $m

Market Cap 219.49
Revenue 50.83
Net Income (39.53)
Free Cash Flow (40.77)
Net Debt (69.33)
Current Ratio 1.84 (at or above 1.5: strong)
Debt/Equity 0.48 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (22.40) (negative: loss-making)
P/S ratio 5.39
P/B ratio 2.06
Past 5Y EPS Growth —
This Y EPS Growth (152.70%) (below 0%: weak)
Next Y EPS Growth 62.54% (at or above 15%: strong)
Next Y revenue growth 6.46%
Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.0×, against a ten-year median of 42.1×; over the ten years it ranged from 4.0× in 2026 to 170× in 2023.
P/S against its own 10 years 0.07%
10-year low 10-year high
P/B against its own 10 years 0.06%
10-year low 10-year high
EV/Sales against its own 10 years 0.07%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 47 158 161 133
Receivables 5 8 16 13
Inventory 8 10 15 19
Other — — — —
64 186 212 188
2023 2024 2025 Q'26
Payables 5 17 19 18
ST’ Debt 10 10 34 46
Other 5 14 9 9
35 64 102 102

Compound Annual Growth %

10y 5y 3y
Sales 12.99% 16.71% 110.31%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 13.07% 29.12% 103.69%

Revenue $m

Mar Jun Sep Dec Year
’26 4 11 — — —
’25 4 21 13 23 60
’24 9 14 18 22 62
’23 3 1 4 8 17
’22 1 2 1 2 6
’21 4 2 2 2 9
’20 3 5 10 9 28
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — (26) (26)
’24 — — — 22 22
’23 — — — — (12)
’22 — — — — (25)
’21 2 (9) — — (19)
’20 (4) (6) (7) (6) (23)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — (47) (47)
’24 — — — 16 16
’23 — — — (1) (14)
’22 — — — (2) (27)
’22 — — — — (26)
’21 1 (10) — (2) (22)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.24) (0.24) — — —
’25 (0.14) (0.16) (0.16) (0.08) (0.44)
’24 (0.14) (0.14) (0.10) (0.10) (0.46)
’23 (0.22) (0.18) (0.14) (0.16) (0.70)
’22 (0.18) (0.20) (0.18) (0.28) (0.82)
’21 (0.18) (0.20) (0.20) (0.30) (0.88)
’20 (0.06) (0.04) 0.00 (0.14) (0.24)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — 7.84 7.59 13.90 3.32 8.52 9.51 12.71

Analyst estimates 2026–2028

Powerpack
High — — — 13.70 29.12 129.80 18.77 25.78 22.98 29.76
People
People Employees — — 233 240 227 326 341 367 483 829
Revenue/emp, $m — 0.00 0.00 0.07 0.12 0.03 0.02 0.05 0.13 0.07
Income, $m
Income, $m Revenue — 5 10 17 28 9 6 17 62 60
Gross margin, % — 13.20 50.76 58.46 58.96 63.43 65.93 64.13 61.37 61.52
EBT — (12) (12) (7) (14) (49) (48) (42) (31) (39)
EBT margin, % — (256.80) (120.66) (38.72) (51.13) (551.87) (743.42) (255.98) (49.39) (65.93)
Net income — 0 0 (7) (14) (49) (48) (43) (32) (40)
Depreciation — 1 1 1 1 1 1 2 2 3
Per share, $
Per share, $ Revenue — 0.09 0.28 0.57 0.50 0.16 0.11 0.27 0.93 0.82
Earnings — (0.13) (0.11) (0.36) (0.24) (0.88) (0.82) (0.70) (0.46) (0.44)
Cash flow — (0.11) (0.18) (0.26) (0.42) (0.34) (0.44) (0.20) 0.32 (0.35)
Capex — 0.00 0.00 (0.02) (0.02) (0.04) (0.03) (0.02) (0.08) (0.29)
Free cash flow — (0.11) (0.18) (0.28) (0.45) (0.38) (0.47) (0.23) 0.24 (0.64)
Book value — 0.33 0.24 1.48 0.78 0.93 0.32 0.50 1.95 2.08
Shares, m — 54 36 31 55 56 57 61 67 73
Valuation, ×
Valuation, × P/E — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
P/S — 0.00 0.00 0.00 41.90 94.56 84.79 58.03 16.93 16.17
P/B — 8.45 8.45 8.45 27.17 16.08 30.14 31.81 8.08 6.33
EV/Sales — 0.00 0.00 0.00 41.09 89.59 81.98 55.89 14.61 14.24
EV/FCF — 0.00 0.00 0.00 (46.08) (21.32) (9.20) (12.81) (370.68) (20.88)
Cash, $m
Cash, $m Operating cash flow — (6) (7) (8) (23) (19) (25) (12) 22 (26)
Capex — (2) (1) (1) (1) (2) (2) (1) (5) (21)
Free cash flow — (6) (7) (9) (25) (22) (27) (14) 16 (47)
Balance, $m
Balance, $m Working capital — 15 7 48 41 53 15 29 121 110
Total debt — — 2 5 2 5 18 12 13 46
Net debt — (15) (7) (42) (27) (44) (18) (35) (145) (115)
Shareholders’ equity — 18 9 45 43 52 18 30 131 153
Returns, %
Returns, % ROA — 0.00 0.00 (26.33) (19.35) (62.25) (59.12) (52.70) (20.89) (15.73)
ROIC — 0.00 0.00 (123.04) (55.26) (385.88) 0.00 0.00 0.00 (75.80)
ROE — 18.16 15.45 63.74 (30.57) (103.74) (135.00) (176.15) (39.08) (27.82)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

EHang Holdings Limited Unsponsored ADR vs peers in Aerospace & Defense (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TATT TAT Technologies Ltd. $418.7M 20.4× 28.7× +22.81% (above 0%: growing) +106.67% (above 0%: growing) −146.68% (below 0%: shrinking) 25.16% 10.62% Compare
SPCE Virgin Galactic Holdings, Inc. $391.1M — (loss-making) — (loss-making) −67.00% (below 0%: shrinking) n/m +20.27% (above 0%: growing) 100.00% (48,452.24%) Compare
IA Innovative Solutions and Support, Inc. $338.1M 18.1× 20.7× +10.72% (above 0%: growing) +78.57% (above 0%: growing) +31.13% (above 0%: growing) 51.65% 22.55% Compare
POWW Outdoor Holding Company $249.5M 72.7× — (loss-making) +22.12% (above 0%: growing) n/m −89.37% (below 0%: shrinking) 84.55% 22.76% Compare
EH EHang Holdings Limited Unsponsored ADR $219.5M — (loss-making) — (loss-making) −44.12% (below 0%: shrinking) n/m −1,807.06% (below 0%: shrinking) 61.24% (169.14%)
AIRO AIRO Group Holdings, Inc. $173.2M — (loss-making) — (loss-making) +75.89% (above 0%: growing) n/m −55.38% (below 0%: shrinking) 64.12% 3.83% Compare
SIF SIFCO Industries, Inc. $133.2M 31.8× — +18.33% (above 0%: growing) n/m −792.26% (below 0%: shrinking) 13.09% 1.09% Compare
SIDU Sidus Space, Inc. $125.5M — (loss-making) — (loss-making) −53.76% (below 0%: shrinking) n/m −18.26% (below 0%: shrinking) (107.99%) (976.20%) Compare
MRLN Merlin Inc $113.2M — (loss-making) — — n/m −119.70% (below 0%: shrinking) (5.42%) (1,528.58%) Compare
Median of peers $211.4M 26.1× — +18.33% — −72.37% 38.41% 2.46%

All 82 Aerospace & Defense stocks →

EHang Holdings Limited Unsponsored ADR (EH) key facts

  • Concern: EHang Holdings Limited Unsponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $59.8 million, down 4.36% from fiscal 2024.
  • EHang Holdings Limited Unsponsored ADR (EH) is an Aerospace & Defense company in the Industrials sector, traded in the US as an ADR.
  • As of October 16, 2026, EH traded at $3.61, a market capitalization of $219.5 million.
  • Return on equity was −27.8% and debt-to-equity 0.48.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 2.95 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

EHang Holdings Limited Unsponsored ADR (EH) Latest News

12 Mar

Impact 5 ·
stockrow.com/EH · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com