Envirotech Vehicles Inc Financials

EVTV

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Envirotech Vehicles Inc (EVTV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).

Financial Health Signals

Financial Profile 21/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Envirotech Vehicles Inc has an operating margin of -423.5%, meaning the company retains $-424 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -444.1% the prior year.

Growth

Envirotech Vehicles Inc's revenue declined 34.7% year-over-year, from $2.9M to $1.9M. This contraction results in a growth score of 0/100.

Leverage

Envirotech Vehicles Inc carries a low D/E ratio of 0.16, meaning only $0.16 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Envirotech Vehicles Inc's current ratio of 1.50 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 26/100, which could limit financial flexibility.

Cash Flow

While Envirotech Vehicles Inc generated -$3.5M in operating cash flow, capex of $430K consumed most of it, leaving -$3.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Envirotech Vehicles Inc generates a -42.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -61.5% the prior year.

Piotroski F-Score Weak

3/9

Envirotech Vehicles Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.40x

For every $1 of reported earnings, Envirotech Vehicles Inc generates $0.40 in operating cash flow (-$3.5M OCF vs -$8.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.9M

YoY-34.7%

5Y CAGR-31.7%

Envirotech Vehicles Inc generated $1.9M in revenue in fiscal year 2024. This represents a decrease of 34.7% from the prior year.

EBITDA

-$7.7M

YoY+38.6%

Envirotech Vehicles Inc's EBITDA was -$7.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 38.6% from the prior year.

Net Income

-$8.8M

YoY+30.2%

Envirotech Vehicles Inc reported -$8.8M in net income in fiscal year 2024. This represents an increase of 30.2% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$3.9M

YoY+17.1%

Envirotech Vehicles Inc generated -$3.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 17.1% from the prior year.

Cash & Debt

$1.9M

YoY+325.0%

5Y CAGR-15.2%

Envirotech Vehicles Inc held $1.9M in cash against $3.4M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

Envirotech Vehicles Inc had 2M shares outstanding in fiscal year 2024. This represents a decrease of 86.9% from the prior year.

Margins & Returns

Gross Margin

26.1%

YoY-9.0pp

5Y CAGR+18.7pp

Envirotech Vehicles Inc's gross margin was 26.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 9.0 percentage points from the prior year.

Operating Margin

-423.5%

YoY+20.6pp

5Y CAGR-382.0pp

Envirotech Vehicles Inc's operating margin was -423.5% in fiscal year 2024, reflecting core business profitability. This is up 20.6 percentage points from the prior year.

Net Margin

-473.2%

YoY-30.1pp

5Y CAGR-432.2pp

Envirotech Vehicles Inc's net profit margin was -473.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 30.1 percentage points from the prior year.

Return on Equity

-42.3%

YoY+19.2pp

Envirotech Vehicles Inc's ROE was -42.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 19.2 percentage points from the prior year.

Capital Allocation

R&D Spending

$193K

YoY-18.3%

5Y CAGR+12.1%

Envirotech Vehicles Inc invested $193K in research and development in fiscal year 2024. This represents a decrease of 18.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$430K

YoY+1101.7%

5Y CAGR+101.4%

Envirotech Vehicles Inc invested $430K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 1101.7% from the prior year.

EVTV Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.9M-34.7%	$2.9M-36.4%	$4.5M+120.5%	$2.0M+2202.2%	$89K-99.3%	$12.6M
Cost of Revenue	$1.4M-25.6%	$1.9M-33.0%	$2.8M+116.4%	$1.3M+1642.1%	$74K-99.4%	$11.6M
Gross Profit	$489K-51.4%	$1.0M-41.9%	$1.7M+127.5%	$761K+4917.3%	$15K-98.4%	$934K
R&D Expenses	$193K-18.3%	$236K+57.5%	$150K+157.9%	$58K	$0-100.0%	$109K
SG&A Expenses	$8.1M-0.3%	$8.2M+2.2%	$8.0M-2.9%	$8.2M+2219.2%	$355K-93.8%	$5.7M
Operating Income	-$7.9M+37.7%	-$12.7M+71.0%	-$43.8M-467.7%	-$7.7M-1779.5%	-$411K+92.1%	-$5.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0-100.0%	$221K+201.1%	-$218K	N/A
Net Income	-$8.8M+30.2%	-$12.7M+71.0%	-$43.8M-472.4%	-$7.7M-2637.6%	-$280K+94.6%	-$5.2M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$1.8M+73.1%	$1.0M+77.3%	$591K	N/A	$0-100.0%	$813K+0.3%	$810K+659.2%	$107K
Cost of Revenue	$1.7M-30.9%	$2.5M+431.6%	$471K	N/A	$134K-78.0%	$609K+21.2%	$502K+324.7%	$118K
Gross Profit	$81K+105.5%	-$1.5M-1321.0%	$119K	N/A	-$134K-165.7%	$204K-33.9%	$308K+2776.0%	-$12K
R&D Expenses	$43K-92.7%	$590K+499.7%	$98K	N/A	$20K-66.8%	$62K-12.3%	$70K+15.9%	$61K
SG&A Expenses	$2.8M+1.1%	$2.8M-23.6%	$3.6M	N/A	$1.4M-4.8%	$1.5M-54.1%	$3.2M+130.5%	$1.4M
Operating Income	-$6.1M-26.3%	-$4.8M+65.0%	-$13.7M	N/A	-$1.6M-21.2%	-$1.3M+55.2%	-$3.0M+6.8%	-$3.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	N/A	$0	$0	$0	$0
Net Income	-$6.4M-23.5%	-$5.1M+63.3%	-$14.0M	N/A	-$1.2M-63.6%	-$755K+83.3%	-$4.5M-42.8%	-$3.2M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

EVTV Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$32.7M+44.2%	$22.7M-32.3%	$33.5M-55.5%	$75.3M+3026.5%	$2.4M-76.7%	$10.3M
Current Assets	$17.6M+46.3%	$12.1M-34.3%	$18.3M-20.3%	$23.0M+1087.3%	$1.9M-79.9%	$9.6M
Cash & Equivalents	$1.9M+325.0%	$457K-83.5%	$2.8M-42.9%	$4.8M+3457.8%	$136K-96.9%	$4.4M
Inventory	$6.4M-6.1%	$6.8M+20.4%	$5.7M+47.3%	$3.9M	$0-100.0%	$494K
Accounts Receivable	$1.0M+45.9%	$692K-66.6%	$2.1M+45.2%	$1.4M+15767.0%	$9K-98.6%	$661K
Goodwill	$10.1M+5.4%	$9.6M-34.7%	$14.7M-71.6%	$51.8M	N/A	N/A
Total Liabilities	$11.7M+481.7%	$2.0M+35.7%	$1.5M-4.9%	$1.6M-45.6%	$2.9M-72.6%	$10.5M
Current Liabilities	$11.7M+562.2%	$1.8M+20.5%	$1.5M-5.0%	$1.6M-43.2%	$2.7M-60.4%	$6.9M
Long-Term Debt	$3.4M+1109.8%	$280K	N/A	N/A	N/A	N/A
Total Equity	$20.9M+1.4%	$20.6M-35.5%	$32.0M-56.6%	$73.7M+15718.0%	-$472K-145.0%	-$193K
Retained Earnings	-$73.5M-13.7%	-$64.6M-24.4%	-$51.9M-539.2%	-$8.1M-1620.3%	-$472K+99.2%	-$59.2M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$18.2M-20.0%	$22.7M-8.5%	$24.8M-24.0%	$32.7M+43.1%	$22.8M+1.4%	$22.5M-2.8%	$23.2M+2.3%	$22.7M
Current Assets	$15.5M-5.1%	$16.3M-18.7%	$20.1M+13.8%	$17.6M+44.1%	$12.2M+2.1%	$12.0M-5.2%	$12.6M+4.9%	$12.1M
Cash & Equivalents	$78K-91.8%	$942K+346.0%	$211K-89.1%	$1.9M+184.4%	$683K+56.2%	$437K-58.3%	$1.0M+129.8%	$457K
Inventory	$4.9M0.0%	$4.9M-22.3%	$6.2M-2.6%	$6.4M-4.3%	$6.7M0.0%	$6.7M-7.4%	$7.2M+6.0%	$6.8M
Accounts Receivable	N/A	N/A	$852K-15.6%	$1.0M-7.4%	$1.1M-23.5%	$1.4M+39.1%	$1.0M+48.1%	$692K
Goodwill	$0	$0	$0-100.0%	$10.1M+5.4%	$9.6M0.0%	$9.6M0.0%	$9.6M0.0%	$9.6M
Total Liabilities	$16.3M-3.0%	$16.8M+7.4%	$15.7M+33.4%	$11.7M+202.8%	$3.9M-11.0%	$4.4M-6.4%	$4.7M+130.7%	$2.0M
Current Liabilities	$16.0M-2.8%	$16.4M+4.9%	$15.7M+33.4%	$11.7M+228.8%	$3.6M-16.6%	$4.3M-4.7%	$4.5M+153.4%	$1.8M
Long-Term Debt	$2.9M-41.8%	$4.9M+8.1%	$4.6M+35.1%	$3.4M+268.5%	$918K-30.6%	$1.3M+17.9%	$1.1M+301.0%	$280K
Total Equity	$1.9M-68.5%	$5.9M-35.6%	$9.2M-56.2%	$20.9M+10.4%	$19.0M+4.4%	$18.1M-1.9%	$18.5M-10.3%	$20.6M
Retained Earnings	-$99.0M-6.9%	-$92.6M-5.9%	-$87.5M-19.1%	-$73.5M-3.3%	-$71.1M-1.8%	-$69.9M-1.1%	-$69.1M-7.0%	-$64.6M

EVTV Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$3.5M+25.6%	-$4.7M+36.6%	-$7.4M+42.6%	-$12.9M-947.6%	$1.5M+133.3%	-$4.6M
Capital Expenditures	$430K+1101.7%	$36K-78.8%	$169K+503.0%	$28K-61.7%	$73K+462.2%	$13K
Free Cash Flow	-$3.9M+17.1%	-$4.7M+37.5%	-$7.6M+41.4%	-$13.0M-992.1%	$1.5M+131.6%	-$4.6M
Investing Cash Flow	-$4.7M-304.0%	$2.3M-58.1%	$5.5M+217.7%	-$4.7M-6300.0%	-$73K-106.5%	$1.1M
Financing Cash Flow	$9.7M+26395.5%	$37K+123.4%	-$157K-100.8%	$20.6M+13372.7%	$153K-96.3%	$4.1M
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	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	-$910K+22.0%	-$1.2M+72.3%	-$4.2M-543.1%	-$656K+42.9%	-$1.1M-19.0%	-$965K-31.2%	-$736K-9.4%	-$673K
Capital Expenditures	$0	$0-100.0%	$177K-12.2%	$201K+114.7%	$94K-30.7%	$135K	$0+100.0%	-$521
Free Cash Flow	-$910K+22.0%	-$1.2M+73.4%	-$4.4M-412.7%	-$857K+31.0%	-$1.2M-12.9%	-$1.1M-49.6%	-$736K-9.3%	-$673K
Investing Cash Flow	$0	$0+100.0%	-$177K+96.1%	-$4.5M-4676.3%	-$94K+30.7%	-$135K	$0-100.0%	$521
Financing Cash Flow	$46K-97.6%	$1.9M-28.7%	$2.7M-58.3%	$6.4M+329.7%	$1.5M+204.9%	$488K-63.3%	$1.3M+431.8%	$250K
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

EVTV Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	26.1%-9.0pp	35.1%-3.3pp	38.5%+1.2pp	37.3%+20.2pp	17.1%+9.7pp	7.4%
Operating Margin	-423.5%+20.6pp	-444.1%+529.3pp	-973.4%-595.3pp	-378.1%+85.0pp	-463.1%-421.6pp	-41.5%
Net Margin	-473.2%-30.1pp	-443.1%+529.4pp	-972.4%-597.8pp	-374.6%-59.6pp	-315.0%-274.0pp	-41.0%
Return on Equity	-42.3%+19.2pp	-61.5%+75.4pp	-136.9%-126.5pp	-10.4%	N/A	N/A
Return on Assets	-27.1%+28.9pp	-56.0%+74.8pp	-130.8%-120.7pp	-10.2%+1.4pp	-11.6%+38.4pp	-50.0%
Current Ratio	1.50-5.3	6.80-5.7	12.46-2.4	14.85+14.1	0.71-0.7	1.40
Debt-to-Equity	0.16+0.1	0.01-0.0	0.05+0.0	0.02+6.1	-6.10+48.4	-54.53
FCF Margin	-210.4%-44.6pp	-165.9%+2.9pp	-168.7%+465.9pp	-634.6%-2272.4pp	1637.7%+1674.3pp	-36.6%

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	4.5%+143.7pp	-139.2%-159.4pp	20.2%	N/A	N/A	25.1%-13.0pp	38.0%+48.8pp	-10.8%
Operating Margin	-334.5%+123.9pp	-458.4%+1866.8pp	-2325.2%	N/A	N/A	-163.0%+201.8pp	-364.8%+2605.5pp	-2970.3%
Net Margin	-350.8%+140.8pp	-491.6%+1885.2pp	-2376.8%	N/A	N/A	-92.9%+466.3pp	-559.2%+2413.7pp	-2973.0%
Return on Equity	-341.4%-254.3pp	-87.1%+65.9pp	-153.1%	N/A	-6.5%-2.4pp	-4.2%+20.3pp	-24.5%-9.1pp	-15.4%
Return on Assets	-34.9%-12.3pp	-22.6%+33.9pp	-56.5%	N/A	-5.4%-2.1pp	-3.4%+16.2pp	-19.6%-5.6pp	-14.0%
Current Ratio	0.97-0.0	0.99-0.3	1.28-0.2	1.50-1.9	3.43+0.6	2.80-0.0	2.81-4.0	6.80
Debt-to-Equity	1.54+0.7	0.84+0.3	0.50+0.3	0.16+0.1	0.05-0.0	0.07+0.0	0.06+0.0	0.01
FCF Margin	-50.2%+61.3pp	-111.5%+632.5pp	-744.1%	N/A	N/A	-135.4%-44.6pp	-90.8%+539.8pp	-630.6%

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Frequently Asked Questions

What is Envirotech Vehicles Inc's annual revenue?

Envirotech Vehicles Inc (EVTV) reported $1.9M in total revenue for fiscal year 2024. This represents a -34.7% 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 Envirotech Vehicles Inc's revenue growing?

Envirotech Vehicles Inc (EVTV) revenue declined by 34.7% year-over-year, from $2.9M to $1.9M in fiscal year 2024.

Is Envirotech Vehicles Inc profitable?

No, Envirotech Vehicles Inc (EVTV) reported a net income of -$8.8M in fiscal year 2024, with a net profit margin of -473.2%.

What is Envirotech Vehicles Inc's EBITDA?

Envirotech Vehicles Inc (EVTV) had EBITDA of -$7.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Envirotech Vehicles Inc have?

As of fiscal year 2024, Envirotech Vehicles Inc (EVTV) had $1.9M in cash and equivalents against $3.4M in long-term debt.

What is Envirotech Vehicles Inc's gross margin?

Envirotech Vehicles Inc (EVTV) had a gross margin of 26.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Envirotech Vehicles Inc's operating margin?

Envirotech Vehicles Inc (EVTV) had an operating margin of -423.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Envirotech Vehicles Inc's net profit margin?

Envirotech Vehicles Inc (EVTV) had a net profit margin of -473.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Envirotech Vehicles Inc's return on equity (ROE)?

Envirotech Vehicles Inc (EVTV) has a return on equity of -42.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Envirotech Vehicles Inc's free cash flow?

Envirotech Vehicles Inc (EVTV) generated -$3.9M in free cash flow during fiscal year 2024. This represents a 17.1% 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 Envirotech Vehicles Inc's operating cash flow?

Envirotech Vehicles Inc (EVTV) generated -$3.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Envirotech Vehicles Inc's total assets?

Envirotech Vehicles Inc (EVTV) had $32.7M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Envirotech Vehicles Inc's capital expenditures?

Envirotech Vehicles Inc (EVTV) invested $430K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Envirotech Vehicles Inc spend on research and development?

Envirotech Vehicles Inc (EVTV) invested $193K in research and development during fiscal year 2024.

How many shares does Envirotech Vehicles Inc have outstanding?

Envirotech Vehicles Inc (EVTV) had 2M shares outstanding as of fiscal year 2024.

What is Envirotech Vehicles Inc's current ratio?

Envirotech Vehicles Inc (EVTV) had a current ratio of 1.50 as of fiscal year 2024, which is generally considered healthy.

What is Envirotech Vehicles Inc's debt-to-equity ratio?

Envirotech Vehicles Inc (EVTV) had a debt-to-equity ratio of 0.16 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Envirotech Vehicles Inc's return on assets (ROA)?

Envirotech Vehicles Inc (EVTV) had a return on assets of -27.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Envirotech Vehicles Inc's cash runway?

Based on fiscal year 2024 data, Envirotech Vehicles Inc (EVTV) had $1.9M in cash against an annual operating cash burn of $3.5M. This gives an estimated cash runway of approximately 7 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 Envirotech Vehicles Inc's Piotroski F-Score?

Envirotech Vehicles Inc (EVTV) has a Piotroski F-Score of 3 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Envirotech Vehicles Inc's earnings high quality?

Envirotech Vehicles Inc (EVTV) has an earnings quality ratio of 0.40x, 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.

How financially healthy is Envirotech Vehicles Inc?

Envirotech Vehicles Inc (EVTV) scores 21 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.