Electrovaya Inc.

ELVA Industrials Electrical Equipment & Parts

Electrovaya Inc.’s revenue for fiscal 2025 (year ended September 2025) was $63.8 million, up 43.1% from fiscal 2024.

Revenue
+3.40%
EPS
−69.5%
Free cash flow
−266.0%
Total debt
+97.4%

Quarter to June 2026, against a year earlier

4.90 0.27 +5.83%
Market cap
$231.5M
P/E
44.0×
Fwd P/E
95.4×
Dividend yield
—
F-score
6/9
Altman Z
3.34
Beneish M
22.58
Dividend safety
n/a

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 30.73%

Capital & Financial Ratios $m

Size
Market Cap 231.50
Revenue ttm 71.82
Net income ttm 4.41
Free cash flow ttm (15.63)
Net debt Q 24.03
Valuation
P/E 44.02 (above 35: high)
Forward P/E 95.40 (above 35: high)
Price / sales 3.23
Forward P/S Powerpack
Price / FCF 0.00
Price / book 3.46
Financial health
Current ratio Q 7.53 (at or above 1.5: strong)
Debt / equity Q 0.60
Interest coverage Q 2.05
Growth
Revenue growth Q +3.40% (above 0%: growing)
Operating income growth Q −59.84% (below 0%: shrinking)
EPS, this year −12.97% (below 0%: weak)
EPS, next year A −107.41% (below 0%: weak)
Revenue, next year A +10.17% (at or above 10%: strong)
EPS, past 5 yrs +53.79% (at or above 15%: strong)
EPS, next 5 yrs A +28.04% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/S against its own 10 years 38.49%
10-year low 10-year high
P/B against its own 10 years 0.10%
10-year low 10-year high
EV/Sales against its own 10 years 39.19%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1 1 7 16
Receivables 11 11 16 30
Inventory 8 10 12 18
Other — — — —
26 29 42 76
2023 2024 2025 Q'26
Payables 8 9 10 9
ST’ Debt 3 2 — —
Other 13 16 0 —
27 29 10 10

Compound Annual Growth %

10y 5y 3y
Sales — 34.45% 57.71%
Cash Flow — 0.00% 0.00%
Earnings — 24.77% 0.00%
Book Value — 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

EPS $

Dec Mar Jun Sep Year
’26 0.02 0.02 0.01 — —
’25 (0.01) 0.02 0.02 0.06 0.08
’24 (0.01) (0.02) (0.01) 0.00 (0.04)
’23 (0.09) (0.01) (0.02) 0.07 (0.04)
’22 (0.01) (0.02) (0.05) 0.00 (0.31)
’21 (0.01) (0.01) (0.01) (0.01) (0.05)
’20 — — — — 0.01
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 16 18 18 — —
’25 11 15 17 21 64
’24 12 11 10 12 45
’23 9 8 11 16 44
’22 1 4 4 6 16
’21 3 3 2 4 12
’20 — — — — 15
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 2 (7) (12) — —
’25 0 (4) (3) 9 2
’24 1 0 0 1 1
’23 (4) (1) 1 (1) (5)
’22 (4) (5) (3) 3 (9)
’21 (2) (4) (2) 0 (8)
’20 — — — (4) (4)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 (1) (7) (15) — —
’25 0 (5) (4) 7 (3)
’24 0 (1) 0 1 1
’23 (4) (1) 1 (1) (6)
’22 (4) (5) (3) 2 (9)
’21 (2) (4) (3) 0 (9)
’20 — — — (4) (4)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — 5 15 12 16 44 45 64 72 +53.3% 70 101 157 +35.0%
Gross margin, % — — — 37.48 33.96 33.87 23.81 26.91 30.68 30.90 33.00 (6.6) pt
EBT — — — (9) 1 (8) (9) (2) (1) 1 2 n/m
EBT margin, % — — — (182.64) 7.66 (65.04) (56.61) (4.90) (3.33) 2.05 3.14 +184.7 pt
Net income — — — (3) 1 (8) (9) (1) (1) 3 4 n/m
Per share, $
Per share, $ Revenue — — — 0.23 0.12 0.08 0.55 1.30 1.31 1.63 1.44 +38.7%
Earnings — — — (0.14) 0.01 (0.05) (0.31) (0.04) (0.04) 0.09 0.11 n/m
Cash flow — — — (0.14) (0.03) (0.06) (0.30) (0.15) 0.03 0.04 (0.17) n/m
Capex — — — 0.00 0.00 0.00 (0.01) (0.01) 0.00 (0.12) (0.15) n/m
Free cash flow — — — (0.14) (0.03) (0.06) (0.31) (0.17) 0.03 (0.07) (0.31) (9.5%)
Book value — — — (0.67) (0.07) (0.01) (0.23) 0.21 0.25 0.80 1.35 n/m
Shares, m — — — 21 120 140 29 34 34 39 45 +10.6%
Valuation, ×
Valuation, × P/E — — — 0.00 0.00 0.00 0.00 0.00 0.00 65.44 44.02 9.3
P/S — — — 0.00 0.00 60.38 6.40 2.02 1.78 3.61 3.23 10.6
P/B — — — 0.00 0.00 0.00 0.00 12.45 9.23 7.39 3.46 4.2
EV/Sales — — — 0.00 0.00 60.31 6.75 2.13 1.84 3.87 3.59 10.7
EV/FCF — — — 0.00 0.00 (80.16) (12.02) (16.33) 89.78 (85.34) (16.50) (14.9)
Cash, $m
Cash, $m Operating cash flow — — — (3) (4) (8) (9) (5) 1 2 (8) n/m
Capex — — — — 0 (1) 0 (1) 0 (5) (7) +158.4%
Free cash flow — — — (3) (4) (9) (9) (6) 1 (3) (16) 0.0%
Balance, $m
Balance, $m Working capital — — — (14) (8) (1) (8) (1) 1 32 66 n/m
Net debt — — — 13 2 (1) 6 5 3 15 24 +3.3%
Shareholders’ equity — — — (14) (9) (2) (7) 7 9 31 67 n/m
Returns, %
Returns, % ROA — — — 0.00 17.46 (58.82) (49.57) (5.04) (3.91) 6.50 5.12 +6.5 pt
ROIC — — — 0.00 0.00 0.00 0.00 6.31 4.03 7.48 4.60 +7.5 pt
ROE — — — 0.00 (9.66) 144.73 219.23 (673.80) (18.88) 16.94 9.85 +16.9 pt
People
People Employees — — — — — — 77 97 97 123 — +16.9%
Revenue/emp, $m — — — 0.00 0.00 0.00 0.21 0.45 0.46 0.52 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Electrovaya Inc. vs peers in Electrical Equipment & Parts (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
ENVX Enovix Corporation $526.7M — (loss-making) — (loss-making) +20.84% (above 0%: growing) n/m +7.17% (above 0%: growing) 14.43% (479.79%) Compare
HYLN Hyliion Holdings Corp. $469.7M — (loss-making) — (loss-making) +226.34% (above 0%: growing) n/m +48.39% (above 0%: growing) 7.40% (309.43%) Compare
FAC Factorial Energy Inc. $422.7M 41.2× — — n/m +11.54% (above 0%: growing) — 0.00% Compare
ULBI Ultralife Corporation $260.5M — (loss-making) 8.0× +11.30% (above 0%: growing) n/m −341.91% (below 0%: shrinking) 27.54% 6.60% Compare
EAF GrafTech International Ltd. $253.1M — (loss-making) — (loss-making) −2.66% (below 0%: shrinking) n/m −184.05% (below 0%: shrinking) 4.01% (16.18%) Compare
ELVA Electrovaya Inc. $231.5M 44.0× 95.4× +3.40% (above 0%: growing) −69.50% (below 0%: shrinking) −265.97% (below 0%: shrinking) 34.93% 4.45%
LTBR Lightbridge Corporation $154.7M — (loss-making) — (loss-making) −97.32% (below 0%: shrinking) n/m −52.58% (below 0%: shrinking) 22.12% 0.00% Compare
ESP Espey Mfg. & Electronics Corp. $139.5M 11.5× 14.9× +40.39% (above 0%: growing) +7.27% (above 0%: growing) −199.91% (below 0%: shrinking) 34.33% 25.79% Compare
NEOV NeoVolta, Inc. $124.5M — (loss-making) — (loss-making) −99.72% (below 0%: shrinking) n/m −1,293.55% (below 0%: shrinking) (8,440.00%) (75,445.93%) Compare
Median of peers $256.8M — — +11.30% — −118.31% 14.43% (8.09%)

All 55 Electrical Equipment & Parts stocks →

Electrovaya Inc. (ELVA) Latest News

30 Oct

16 Oct

Impact 3 · · Simply Wall St.

14 Oct

Impact 4 · · ACCESS Newswire

17 Jul

Impact 4 · · The Motley Fool

15 May

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