What is Eve Holding Inc's earnings per share (EPS)?

Eve Holding Inc (EVEX) reported diluted earnings per share of $-0.70 for fiscal year 2025. This represents a -45.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Eve Holding Inc Financials

EVEX

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Eve Holding Inc (EVEX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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 EVEX FY2025 2026-05-05

External financing is sustaining an R&D-heavy development model, with debt now rising faster than operating self-funding.

From FY2023 to FY2025, R&D nearly doubled from $105.6M to $194.7M while capital spending stayed comparatively light, so the company is consuming cash mainly through ongoing development activity rather than through a large plant-and-equipment buildout. That matters because operating cash flow at -$160.4M in FY2025 remained close to free cash flow at -$173.0M, meaning the reported losses are translating into real cash burn instead of being softened by non-cash accounting items.

The expense mix shows where management effort is concentrated: in FY2025, R&D of $194.7M was over six times SG&A of $30.7M. This is a development-led cost structure, not one burdened primarily by corporate overhead or a large selling footprint.

Liquidity still looks workable at a current ratio of 3.3x, but it is moving the wrong way as short-term obligations have grown faster than liquid resources since FY2024. The cash balance of $103.2M was reinforced by $263.1M of financing inflow, and long-term debt has risen sharply over the last two years, so continued operations are being financed externally rather than internally.

Financial Health Signals

Financial Profile 23/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Eve Holding Inc'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.

Leverage

Eve Holding Inc carries a low D/E ratio of 1.43, meaning only $1.43 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 73/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Eve Holding Inc's current ratio of 3.29 indicates adequate short-term liquidity, earning a score of 64/100. The company can meet its near-term obligations, though with limited headroom.

Returns

Eve Holding Inc generates a -181.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -111.5% the prior year.

Piotroski F-Score Weak

2/9

Eve Holding Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.72x

For every $1 of reported earnings, Eve Holding Inc generates $0.72 in operating cash flow (-$160.4M OCF vs -$224.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-22.2x

Eve Holding Inc earns $-22.2 in operating income for every $1 of interest expense (-$225.4M vs $10.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$224.5M

YoY-43.8%

Eve Holding Inc's EBITDA was -$224.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 43.8% from the prior year.

Net Income

-$224.3M

YoY-62.3%

Eve Holding Inc reported -$224.3M in net income in fiscal year 2025. This represents a decrease of 62.3% from the prior year.

EPS (Diluted)

$-0.70

YoY-45.8%

Eve Holding Inc earned $-0.70 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 45.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$173.0M

YoY-22.5%

Eve Holding Inc generated -$173.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 22.5% from the prior year.

Cash & Debt

$103.2M

YoY+83.1%

5Y CAGR+120.7%

Eve Holding Inc held $103.2M in cash against $176.4M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

348M

YoY+17.0%

Eve Holding Inc had 348M shares outstanding in fiscal year 2025. This represents an increase of 17.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-181.2%

YoY-69.7pp

Eve Holding Inc's ROE was -181.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 69.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$194.7M

YoY+49.9%

5Y CAGR+87.7%

Eve Holding Inc invested $194.7M in research and development in fiscal year 2025. This represents an increase of 49.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$12.6M

YoY+140.7%

Eve Holding Inc invested $12.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 140.7% from the prior year.

EVEX Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	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
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$194.7M+49.9%	$129.8M+23.0%	$105.6M+103.6%	$51.9M+290.5%	$13.3M+58.9%	$8.4M
SG&A Expenses	$30.7M+15.7%	$26.5M+14.8%	$23.1M-29.7%	$32.9M+570.7%	$4.9M+297.0%	$1.2M
Operating Income	-$225.4M-44.1%	-$156.4M-19.8%	-$130.5M+31.1%	-$189.5M-942.4%	-$18.2M-89.5%	-$9.6M
Interest Expense	$10.1M+177.0%	$3.7M+1352.8%	$252K	$0	$0	N/A
Income Tax	$1.0M+98.6%	$507K-67.7%	$1.6M+68.1%	$933K	$0	$0
Net Income	-$224.3M-62.3%	-$138.2M-8.2%	-$127.7M+26.6%	-$174.0M-853.3%	-$18.3M-89.7%	-$9.6M
EPS (Diluted)	$-0.70-45.8%	$-0.48-4.3%	$-0.46+32.4%	$-0.68-750.0%	$-0.08-100.0%	$-0.04

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	$59.1M	N/A	$44.9M-1.7%	$45.7M+2.1%	$44.7M	N/A	$32.4M-10.7%	$36.3M
SG&A Expenses	$7.2M	N/A	$7.0M-14.4%	$8.2M+4.0%	$7.9M	N/A	$8.4M+55.8%	$5.4M
Operating Income	-$66.3M	N/A	-$51.9M+3.7%	-$53.9M-2.4%	-$52.6M	N/A	-$40.8M+2.1%	-$41.7M
Interest Expense	$4.6M	N/A	$2.7M+11.9%	$2.4M+6.9%	$2.2M	N/A	$835K+36.2%	$613K
Income Tax	$95K	N/A	$1.2M+181.6%	$435K+178.0%	-$558K	N/A	$427K+8.1%	$395K
Net Income	-$68.8M	N/A	-$46.9M+27.5%	-$64.7M-32.6%	-$48.8M	N/A	-$35.8M+1.7%	-$36.4M
EPS (Diluted)	$-0.20	N/A	$-0.14+33.3%	$-0.21-31.2%	$-0.16	N/A	$-0.12+7.7%	$-0.13

EVEX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$434.9M+36.6%	$318.2M+29.7%	$245.3M-21.6%	$312.9M+1350.4%	$21.6M-90.8%	$234.6M
Current Assets	$410.9M+31.4%	$312.8M+29.1%	$242.2M-22.4%	$312.2M+1395.9%	$20.9M+815.2%	$2.3M
Cash & Equivalents	$103.2M+83.1%	$56.4M+20.2%	$46.9M-4.6%	$49.1M+241.8%	$14.4M+629.1%	$2.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$311.1M+60.1%	$194.3M+142.0%	$80.3M+209.4%	$26.0M+138.7%	$10.9M-95.4%	$235.6M
Current Liabilities	$124.8M+110.3%	$59.3M+14.1%	$52.0M+108.5%	$24.9M+145.2%	$10.2M+2788.2%	$352K
Long-Term Debt	$176.4M+33.6%	$132.0M+412.4%	$25.8M	$0	N/A	N/A
Total Equity	$123.8M-0.1%	$123.9M-24.9%	$165.1M-42.5%	$286.9M+2581.8%	$10.7M+1155.1%	-$1.0M
Retained Earnings	-$707.1M-46.4%	-$482.8M-40.1%	-$344.7M-58.8%	-$217.0M-404.9%	-$43.0M+6.9%	-$46.2M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$484.3M+11.4%	$434.9M-1.1%	$439.7M+68.5%	$261.0M-14.2%	$304.2M-4.4%	$318.2M+9.9%	$289.5M+34.9%	$214.6M
Current Assets	$456.7M+11.2%	$410.9M-3.3%	$424.7M+69.8%	$250.1M-16.0%	$297.6M-4.8%	$312.8M+9.6%	$285.5M+35.7%	$210.4M
Cash & Equivalents	$120.9M+17.2%	$103.2M+56.8%	$65.8M+58.5%	$41.5M-30.2%	$59.5M+5.6%	$56.4M+129.4%	$24.6M-11.5%	$27.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$428.2M+37.6%	$311.1M+21.7%	$255.6M+3.3%	$247.6M+8.6%	$228.0M+17.4%	$194.3M+54.4%	$125.9M+15.0%	$109.5M
Current Liabilities	$120.3M-3.6%	$124.8M+53.1%	$81.5M-9.6%	$90.2M+9.1%	$82.7M+39.3%	$59.3M+8.4%	$54.8M+0.8%	$54.3M
Long-Term Debt	$295.8M+67.7%	$176.4M+5.5%	$167.3M+8.6%	$154.0M+8.3%	$142.2M+7.7%	$132.0M+93.3%	$68.3M+29.9%	$52.6M
Total Equity	$56.1M-54.7%	$123.8M-32.8%	$184.1M+1270.0%	$13.4M-82.4%	$76.1M-38.6%	$123.9M-24.3%	$163.7M+55.7%	$105.1M
Retained Earnings	-$775.9M-9.7%	-$707.1M-9.9%	-$643.2M-7.9%	-$596.3M-12.2%	-$531.6M-10.1%	-$482.8M-9.2%	-$442.1M-8.8%	-$406.4M

EVEX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$160.4M-18.0%	-$136.0M-43.9%	-$94.5M-59.0%	-$59.5M-299.4%	-$14.9M-64.9%	-$9.0M
Capital Expenditures	$12.6M+140.7%	$5.2M+3004.8%	$168K-64.7%	$476K	$0	$0
Free Cash Flow	-$173.0M-22.5%	-$141.2M-49.1%	-$94.7M-58.0%	-$59.9M-302.6%	-$14.9M-64.9%	-$9.0M
Investing Cash Flow	-$46.7M+16.9%	-$56.2M-184.1%	$66.8M+125.9%	-$258.5M	$0	$0
Financing Cash Flow	$263.1M+29.6%	$203.0M+714.5%	$24.9M-92.9%	$352.7M+1105.3%	$29.3M+224.1%	$9.0M
Dividends Paid	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

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$68.1M-162.6%	-$25.9M+52.0%	-$54.0M+3.0%	-$55.6M-123.7%	-$24.9M+35.7%	-$38.7M-25.9%	-$30.7M+0.1%	-$30.8M
Capital Expenditures	$526K-87.2%	$4.1M-39.1%	$6.7M+435.1%	$1.3M+171.1%	$464K-61.8%	$1.2M-62.5%	$3.2M+391.0%	$659K
Free Cash Flow	-$68.6M-128.5%	-$30.0M+50.5%	-$60.7M-6.7%	-$56.9M-124.5%	-$25.3M+36.5%	-$39.9M-17.5%	-$34.0M-8.1%	-$31.4M
Investing Cash Flow	-$31.5M-154.6%	$57.7M+138.5%	-$149.7M-659.9%	$26.7M+44.3%	$18.5M+220.4%	$5.8M+107.1%	-$81.2M-480.7%	$21.3M
Financing Cash Flow	$117.1M+816.0%	$12.8M-94.4%	$229.9M+1952.0%	$11.2M+20.8%	$9.3M-85.8%	$65.2M-40.0%	$108.8M+663.6%	$14.2M
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

EVEX 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	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-181.2%-69.7pp	-111.5%-34.2pp	-77.3%-16.7pp	-60.7%+110.0pp	-170.6%	N/A
Return on Assets	-51.6%-8.2pp	-43.4%+8.6pp	-52.0%+3.6pp	-55.6%+29.0pp	-84.6%-80.5pp	-4.1%
Current Ratio	3.29-2.0	5.27+0.6	4.66-7.9	12.52+10.5	2.05-4.4	6.48
Debt-to-Equity	1.43+0.4	1.07+0.9	0.16+0.2	0.00-1.0	1.02+233.4	-232.34
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	-122.8%	N/A	-25.5%+456.0pp	-481.5%-417.4pp	-64.1%	N/A	-21.9%+12.8pp	-34.6%
Return on Assets	-14.2%	N/A	-10.7%+14.1pp	-24.8%-8.7pp	-16.0%	N/A	-12.4%+4.6pp	-17.0%
Current Ratio	3.80+0.5	3.29-1.9	5.21+2.4	2.77-0.8	3.60-1.7	5.27+0.1	5.21+1.3	3.87
Debt-to-Equity	5.28+3.9	1.43+0.5	0.91-10.6	11.46+9.6	1.87+0.8	1.07+0.6	0.42-0.1	0.50
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

Is Eve Holding Inc profitable?

No, Eve Holding Inc (EVEX) reported a net income of -$224.3M in fiscal year 2025.

What is Eve Holding Inc's EBITDA?

Eve Holding Inc (EVEX) had EBITDA of -$224.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Eve Holding Inc have?

As of fiscal year 2025, Eve Holding Inc (EVEX) had $103.2M in cash and equivalents against $176.4M in long-term debt.

What is Eve Holding Inc's return on equity (ROE)?

Eve Holding Inc (EVEX) has a return on equity of -181.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Eve Holding Inc's free cash flow?

Eve Holding Inc (EVEX) generated -$173.0M in free cash flow during fiscal year 2025. This represents a -22.5% 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 Eve Holding Inc's operating cash flow?

Eve Holding Inc (EVEX) generated -$160.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Eve Holding Inc's total assets?

Eve Holding Inc (EVEX) had $434.9M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Eve Holding Inc's capital expenditures?

Eve Holding Inc (EVEX) invested $12.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Eve Holding Inc spend on research and development?

Eve Holding Inc (EVEX) invested $194.7M in research and development during fiscal year 2025.

How many shares does Eve Holding Inc have outstanding?

Eve Holding Inc (EVEX) had 348M shares outstanding as of fiscal year 2025.

What is Eve Holding Inc's current ratio?

Eve Holding Inc (EVEX) had a current ratio of 3.29 as of fiscal year 2025, which is generally considered healthy.

What is Eve Holding Inc's debt-to-equity ratio?

Eve Holding Inc (EVEX) had a debt-to-equity ratio of 1.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Eve Holding Inc's return on assets (ROA)?

Eve Holding Inc (EVEX) had a return on assets of -51.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Eve Holding Inc's cash runway?

Based on fiscal year 2025 data, Eve Holding Inc (EVEX) had $103.2M in cash against an annual operating cash burn of $160.4M. This gives an estimated cash runway of approximately 8 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Eve Holding Inc's Piotroski F-Score?

Eve Holding Inc (EVEX) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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 Eve Holding Inc's earnings high quality?

Eve Holding Inc (EVEX) has an earnings quality ratio of 0.72x, considered low quality (accrual-driven). 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.

Can Eve Holding Inc cover its interest payments?

Eve Holding Inc (EVEX) has an interest coverage ratio of -22.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Eve Holding Inc?

Eve Holding Inc (EVEX) scores 23 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.