Embraer Financials

ERJ

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows Embraer (ERJ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ERJ FY2025 2026-04-22

Embraer’s recent expansion is being financed chiefly by operating cash and working-capital turnover, not balance-sheet leverage.

In the latest year, net income was $359M, barely above the prior year’s $355M, even though sales kept growing; that means added volume did not translate into the same incremental accounting profit as before. With operating cash flow near $870M and free cash flow still above 9.0% of revenue, the business remained cash-generative while earnings momentum flattened.

The balance sheet looks operationally funded more than debt funded: liabilities reached $9.11B, but cash also rose to $1.95B and reported debt leverage stayed low. That mix suggests most financing pressure sits in the normal production, supplier, and delivery cycle rather than in heavy borrowing.

Liquidity has tightened without breaking, as the current ratio moved from 2.1x to 1.5x over the last three annual periods. At the same time, inventory climbed from $2.64B to $3.27B, showing that a larger share of cash is tied up inside the production-and-delivery cycle even while free cash flow stays positive.

Financial Health Signals

Financial Health Score 46/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Embraer's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Embraer's revenue surged 18.5% year-over-year to $7.6B, reflecting rapid business expansion. This strong growth earns a score of 82/100.

Leverage

Embraer carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Embraer's current ratio of 1.50 indicates adequate short-term liquidity, earning a score of 41/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Embraer converts 9.0% of revenue into free cash flow ($682.8M). This strong cash generation earns a score of 65/100.

Piotroski F-Score Partial

7/8

Embraer passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.42x

For every $1 of reported earnings, Embraer generates $2.42 in operating cash flow ($870.0M OCF vs $359.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$7.6B

YoY+18.5%

5Y CAGR+15.0%

10Y CAGR+2.5%

Embraer generated $7.6B in revenue in fiscal year 2025. This represents an increase of 18.5% from the prior year.

EBITDA

N/A

Net Income

$359.0M

YoY+1.2%

10Y CAGR+16.1%

Embraer reported $359.0M in net income in fiscal year 2025. This represents an increase of 1.2% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$682.8M

YoY+1.8%

10Y CAGR+2.7%

Embraer generated $682.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 1.8% from the prior year.

Cash & Debt

$1.9B

YoY+24.7%

5Y CAGR+0.7%

10Y CAGR-1.0%

Embraer held $1.9B in cash against $97.4M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

723M

YoY-1.6%

5Y CAGR-0.4%

Embraer had 723M shares outstanding in fiscal year 2025. This represents a decrease of 1.6% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

4.7%

YoY-0.8pp

5Y CAGR+24.1pp

10Y CAGR+3.4pp

Embraer's net profit margin was 4.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.8 percentage points from the prior year.

Return on Equity

9.4%

YoY-1.2pp

5Y CAGR+34.5pp

10Y CAGR+7.3pp

Embraer's ROE was 9.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$187.2M

YoY-6.6%

5Y CAGR+12.8%

10Y CAGR-5.8%

Embraer invested $187.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 6.6% from the prior year.

ERJ Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$7.6B+18.5%	$6.4B+21.4%	$5.3B+16.0%	$4.5B+8.2%	$4.2B+11.3%	$3.8B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	-$193.3M-56.5%	-$123.5M+38.1%	-$199.4M+14.3%	-$232.7M
Income Tax	-$91.4M-145.2%	$202.4M+564.2%	-$43.6M-1795.7%	-$2.3M-103.2%	$70.9M-23.8%	$93.1M
Net Income	$359.0M+1.2%	$354.6M+115.8%	$164.3M+180.7%	-$203.5M-367.8%	-$43.5M+94.0%	-$728.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ERJ Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$12.9B+9.3%	$11.8B+9.7%	$10.8B+6.3%	$10.1B-0.1%	$10.2B-3.4%	$10.5B
Current Assets	$7.2B+9.8%	$6.5B+7.5%	$6.1B+5.2%	$5.8B-2.0%	$5.9B-3.9%	$6.1B
Cash & Equivalents	$1.9B+24.7%	$1.6B-4.1%	$1.6B-10.3%	$1.8B-0.1%	$1.8B-3.4%	$1.9B
Inventory	$3.3B+11.3%	$2.9B+11.4%	$2.6B+13.2%	$2.3B+17.3%	$2.0B-18.5%	$2.4B
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$2.7B+8.7%	$2.5B+7.4%	$2.3B+3.8%	$2.2B+1.5%	$2.2B+21600.0%	$10.2M
Total Liabilities	$9.1B+7.4%	$8.5B+9.5%	$7.7B+5.8%	$7.3B-0.8%	$7.4B-3.0%	$7.6B
Current Liabilities	$4.8B+7.8%	$4.4B+20.5%	$3.7B+13.9%	$3.2B+13.7%	$2.8B+16.5%	$2.4B
Long-Term Debt	$97.4M+5.2%	$92.6M+12.7%	$82.2M+39.3%	$59.0M+12.8%	$52.3M-1.9%	$53.3M
Total Equity	$3.8B+14.0%	$3.3B+10.0%	$3.0B+7.6%	$2.8B+1.8%	$2.8B-4.6%	$2.9B
Retained Earnings	N/A	N/A	$329.1M-27.7%	$455.5M	N/A	-$31.6M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$12.9B+9.3%	$11.8B+9.7%	$10.8B+6.3%	$10.1B-0.1%	$10.2B-3.4%	$10.5B-0.5%	$10.6B-6.4%	$11.3B
Current Assets	$7.2B+9.8%	$6.5B+7.5%	$6.1B+5.2%	$5.8B-2.0%	$5.9B-3.9%	$6.1B-28.6%	$8.6B+21.2%	$7.1B
Cash & Equivalents	$1.9B+24.7%	$1.6B-4.1%	$1.6B-10.3%	$1.8B-0.1%	$1.8B-3.4%	$1.9B-18.4%	$2.3B+80.2%	$1.3B
Inventory	$3.3B+11.3%	$2.9B+11.4%	$2.6B+13.2%	$2.3B+17.3%	$2.0B-18.5%	$2.4B+86.9%	$1.3B-48.0%	$2.5B
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$2.7B+8.7%	$2.5B+7.4%	$2.3B+3.8%	$2.2B+1.5%	$2.2B+21600.0%	$10.2M-98.9%	$894.1M-52.9%	$1.9B
Total Liabilities	$9.1B+7.4%	$8.5B+9.5%	$7.7B+5.8%	$7.3B-0.8%	$7.4B-3.0%	$7.6B+9.4%	$7.0B-5.4%	$7.4B
Current Liabilities	$4.8B+7.8%	$4.4B+20.5%	$3.7B+13.9%	$3.2B+13.7%	$2.8B+16.5%	$2.4B-62.0%	$6.4B+110.9%	$3.0B
Long-Term Debt	$97.4M+5.2%	$92.6M+12.7%	$82.2M+39.3%	$59.0M+12.8%	$52.3M-1.9%	$53.3M+58.6%	$33.6M	N/A
Total Equity	$3.8B+14.0%	$3.3B+10.0%	$3.0B+7.6%	$2.8B+1.8%	$2.8B-4.6%	$2.9B-18.9%	$3.6B-9.1%	$3.9B
Retained Earnings	N/A	N/A	$329.1M-27.7%	$455.5M	N/A	-$31.6M0.0%	-$31.6M	N/A

ERJ Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$870.0M-0.1%	$871.2M+41.2%	$617.0M-17.9%	$751.3M+45.8%	$515.3M+139.9%	-$1.3B
Capital Expenditures	$187.2M-6.6%	$200.4M-16.0%	$238.7M+75.3%	$136.2M+33.9%	$101.7M-0.6%	$102.3M
Free Cash Flow	$682.8M+1.8%	$670.8M+77.3%	$378.3M-38.5%	$615.1M+48.7%	$413.6M+129.7%	-$1.4B
Investing Cash Flow	-$611.7M-2.0%	-$599.7M-34.0%	-$447.6M-308.8%	-$109.5M+16.8%	-$131.6M-25.0%	-$105.3M
Financing Cash Flow	$146.1M+143.5%	-$335.7M+3.7%	-$348.7M+47.9%	-$669.2M-55.4%	-$430.6M-142.7%	$1.0B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	$2.5M	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ERJ Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	4.7%-0.8pp	5.5%+2.4pp	3.1%+7.6pp	-4.5%-3.4pp	-1.0%+18.3pp	-19.3%
Return on Equity	9.4%-1.2pp	10.6%+5.2pp	5.4%+12.6pp	-7.2%-5.6pp	-1.6%+23.5pp	-25.1%
Return on Assets	2.8%-0.2pp	3.0%+1.5pp	1.5%+3.5pp	-2.0%-1.6pp	-0.4%+6.5pp	-6.9%
Current Ratio	1.50+0.0	1.47-0.2	1.65-0.1	1.79-0.3	2.08-0.4	2.52
Debt-to-Equity	0.030.0	0.030.0	0.030.0	0.020.0	0.020.0	0.02
FCF Margin	9.0%-1.5pp	10.5%+3.3pp	7.2%-6.4pp	13.6%+3.7pp	9.8%+46.8pp	-36.9%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.50+0.0	1.47-0.2	1.65-0.1	1.79-0.3	2.08-0.4	2.52+1.2	1.34-1.0	2.33
Debt-to-Equity	0.030.0	0.030.0	0.030.0	0.020.0	0.020.0	0.020.0	0.01-1.9	1.87
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Embraer's annual revenue?

Embraer (ERJ) reported $7.6B in total revenue for fiscal year 2025. This represents a 18.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Embraer's revenue growing?

Embraer (ERJ) revenue grew by 18.5% year-over-year, from $6.4B to $7.6B in fiscal year 2025.

Is Embraer profitable?

Yes, Embraer (ERJ) reported a net income of $359.0M in fiscal year 2025, with a net profit margin of 4.7%.

How much debt does Embraer have?

As of fiscal year 2025, Embraer (ERJ) had $1.9B in cash and equivalents against $97.4M in long-term debt.

What is Embraer's net profit margin?

Embraer (ERJ) had a net profit margin of 4.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Embraer's return on equity (ROE)?

Embraer (ERJ) has a return on equity of 9.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Embraer's free cash flow?

Embraer (ERJ) generated $682.8M in free cash flow during fiscal year 2025. This represents a 1.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Embraer's operating cash flow?

Embraer (ERJ) generated $870.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Embraer's total assets?

Embraer (ERJ) had $12.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Embraer's capital expenditures?

Embraer (ERJ) invested $187.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Embraer have outstanding?

Embraer (ERJ) had 723M shares outstanding as of fiscal year 2025.

What is Embraer's current ratio?

Embraer (ERJ) had a current ratio of 1.50 as of fiscal year 2025, which is generally considered healthy.

What is Embraer's debt-to-equity ratio?

Embraer (ERJ) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Embraer's return on assets (ROA)?

Embraer (ERJ) had a return on assets of 2.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Embraer's Piotroski F-Score?

Embraer (ERJ) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Embraer's earnings high quality?

Embraer (ERJ) has an earnings quality ratio of 2.42x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Embraer?

Embraer (ERJ) scores 46 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.