New Horizon Aircraft (HOVR)


Market Price (9/21/2026): $1.66 | Market Cap: $80.4 MilSector: Industrials | Industry: Aerospace & Defense

New Horizon Aircraft (HOVR)


Market Price (9/21/2026): $1.66
Market Cap: $80.4 Mil
Sector: Industrials
Industry: Aerospace & Defense

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -97%

Megatrend and thematic drivers
Megatrends include Advanced Aviation & Space. Themes include Advanced Air Mobility.

Weak multi-year price returns
3Y Excs Rtn is -155%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -23 Mil

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -45%

High stock price volatility
Vol 12M is 115%

Key risks
HOVR key risks include [1] its precarious financial position, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -97%
1 Megatrend and thematic drivers
Megatrends include Advanced Aviation & Space. Themes include Advanced Air Mobility.
2 Weak multi-year price returns
3Y Excs Rtn is -155%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -23 Mil
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -45%
6 High stock price volatility
Vol 12M is 115%
7 Key risks
HOVR key risks include [1] its precarious financial position, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/1/2026

New Horizon Aircraft (HOVR) stock has lost about 45% since 5/31/2026 because of the following key factors:

1. Continued Pre-Revenue Stage and High Development Risk: New Horizon Aircraft remains a pre-revenue company, focused on the development and certification of its Cavorite X7 eVTOL aircraft. Despite reporting a narrowing loss per share of -$0.09 for fiscal Q4 2026 (ended May 31, 2026), which topped consensus estimates, and strengthening its balance sheet to $78.3 million, the company has no commercial revenue and continues to incur persistent losses and negative cash flow. This inherent uncertainty in reaching commercialization contributes significantly to investor apprehension.

2. Market Re-evaluation of the eVTOL Sector and Speculative Sentiment: The broader market has shown a receding "late-summer frenzy" for eVTOL stocks, leading to a re-evaluation by investors regarding the lengthy and complex path to commercialization for companies in this nascent industry. New Horizon Aircraft, as a micro-cap entity with a market capitalization around $92.6 million to $112 million in late August/early September 2026, is considered highly speculative and has experienced a "textbook stage-three shakeout".

Show more
Updated on 9/1/2026

New Horizon Aircraft (HOVR) stock has lost about 45% since 5/31/2026 because of the following key factors:

1. Continued Pre-Revenue Stage and High Development Risk: New Horizon Aircraft remains a pre-revenue company, focused on the development and certification of its Cavorite X7 eVTOL aircraft. Despite reporting a narrowing loss per share of -$0.09 for fiscal Q4 2026 (ended May 31, 2026), which topped consensus estimates, and strengthening its balance sheet to $78.3 million, the company has no commercial revenue and continues to incur persistent losses and negative cash flow. This inherent uncertainty in reaching commercialization contributes significantly to investor apprehension.

2. Market Re-evaluation of the eVTOL Sector and Speculative Sentiment: The broader market has shown a receding "late-summer frenzy" for eVTOL stocks, leading to a re-evaluation by investors regarding the lengthy and complex path to commercialization for companies in this nascent industry. New Horizon Aircraft, as a micro-cap entity with a market capitalization around $92.6 million to $112 million in late August/early September 2026, is considered highly speculative and has experienced a "textbook stage-three shakeout".

3. Insufficient Positive Catalysts to Counteract Downward Pressure: Although the company announced significant operational milestones, such as securing a Letter of Intent (LOI) for up to 100 hybrid eVTOLs valued at $600 million on July 21, 2026, and reporting progress on all-weather certification for its Cavorite X7 in September 2026, these appear to have been viewed as early-stage developments rather than immediate revenue drivers. This, combined with technical "sell signals" and a "Sell Candidate" rating issued by StockInvest.us as of August 31, 2026, indicates that these positive updates were not enough to sustain investor confidence against the backdrop of inherent development risks and a cautious market sentiment towards speculative growth stocks.

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Stock Movement Drivers

Fundamental Drivers

The -43.2% change in HOVR stock from 5/31/2026 to 9/20/2026 was primarily driven by a -8.5% change in the company's Shares Outstanding (Mil).
(LTM values as of)53120269202026Change
Stock Price ($)2.921.66-43.2%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)4448-8.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/20/2026
ReturnCorrelation
HOVR-43.2% 
Market (SPY)0.9%56.9%
Sector (XLI)-2.0%41.7%

Fundamental Drivers

The -14.4% change in HOVR stock from 2/28/2026 to 9/20/2026 was primarily driven by a -13.1% change in the company's Shares Outstanding (Mil).
(LTM values as of)22820269202026Change
Stock Price ($)1.941.66-14.4%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)4248-13.1%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/20/2026
ReturnCorrelation
HOVR-14.4% 
Market (SPY)11.6%49.6%
Sector (XLI)-3.9%37.9%

Fundamental Drivers

The -5.1% change in HOVR stock from 8/31/2025 to 9/20/2026 was primarily driven by a -35.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)83120259202026Change
Stock Price ($)1.751.66-5.1%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)3148-35.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/20/2026
ReturnCorrelation
HOVR-5.1% 
Market (SPY)19.4%46.0%
Sector (XLI)12.8%37.1%

Fundamental Drivers

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Market Drivers

8/31/2023 to 9/20/2026
ReturnCorrelation
HOVR-84.4% 
Market (SPY)75.6%15.2%
Sector (XLI)63.4%18.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HOVR Return---19%-86%30%14%-84%
Peers Return-38%-47%110%18%4%-43%-52%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
HOVR Win Rate--67%42%50%44% 
Peers Win Rate38%39%56%36%47%26% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
HOVR Max Drawdown----97%-69%-52% 
Peers Max Drawdown-64%-66%-44%-52%-50%-57% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: JOBY, ACHR, EVEX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)

How Low Can It Go

EventHOVRS&P 500
2025 US Tariff Shock
  % Loss-24.9%-18.8%
  % Gain to Breakeven33.2%23.1%
  Time to Breakeven15 days79 days

Compare to JOBY, ACHR, EVEX

In The Past

New Horizon Aircraft's stock fell -24.9% during the 2025 US Tariff Shock. Such a loss loss requires a 33.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventHOVRS&P 500
2025 US Tariff Shock
  % Loss-24.9%-18.8%
  % Gain to Breakeven33.2%23.1%
  Time to Breakeven15 days79 days

Compare to JOBY, ACHR, EVEX

In The Past

New Horizon Aircraft's stock fell -24.9% during the 2025 US Tariff Shock. Such a loss loss requires a 33.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About New Horizon Aircraft (HOVR)

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New Horizon Aircraft Ltd. (HOVR) is an aerospace engineering company dedicated to the design and development of innovative aircraft. Based in Lindsay, Canada, the company's primary focus is on pioneering hybrid electric vertical takeoff and landing (eVTOL) aircraft, positioning itself at the forefront of future air mobility solutions.

The core product of New Horizon Aircraft is its hybrid eVTOL aircraft. These advanced vehicles are engineered to combine the environmental benefits of electric propulsion with the operational flexibility of an additional power source. This allows the aircraft to take off and land vertically, eliminating the need for traditional runways, while potentially offering greater range and endurance than purely electric designs.

Although the company's aircraft are currently in the development phase, New Horizon Aircraft is targeting markets poised for transformative change in transportation. Its hybrid eVTOL technology is intended for applications such as urban air mobility (e.g., air taxis), regional passenger transport, and specialized cargo or logistics services that require efficient, versatile, and environmentally conscious aerial solutions.

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AI Analysis | Feedback

  • Joby Aviation, but specializing in hybrid electric VTOL aircraft.
  • The Tesla of hybrid electric air taxis.

AI Analysis | Feedback

  • Hybrid Electric Vertical Takeoff and Landing (eVTOL) Aircraft: Aircraft under development that combine electric and traditional propulsion systems, capable of vertical takeoffs and landings.

AI Analysis | Feedback

New Horizon Aircraft (HOVR) develops hybrid electric vertical takeoff and landing (eVTOL) aircraft. Given the nature of its sophisticated and high-value product, the company primarily sells to other companies and organizations rather than individual consumers.

As an aerospace engineering company in the development phase, New Horizon Aircraft has secured Letters of Intent (LOIs) from several operators for its Cavorite X7 eVTOL aircraft. These represent its major prospective customers:

  • JetSetGo: A private aviation company based in India.
  • FLYINGGROUP: A European business jet operator.
  • Global Air Mobility Inc. (GAM): An Advanced Air Mobility (AAM) company in North America.

As of the current information, these key customers are private companies and therefore do not have public stock symbols.

AI Analysis | Feedback

  • P&E AEROSPACE INC.
  • Global Aerospace Design Corporation

AI Analysis | Feedback

E. Brandon Robinson, Co-Founder and Chief Executive Officer

Brandon Robinson is a co-founder of Horizon Aircraft, established in 2013. He served as a fighter pilot in the Royal Canadian Air Force for two decades, where he managed capital projects up to $4 billion, including the F-35 acquisition. Robinson is also a co-author of several successful aerospace patents. The concept for Horizon Aircraft arose from his collaboration with his father, Brian Robinson, on electrification within his father's aerospace business.

Brian Merker, Chief Financial Officer

Brian Merker brings over 20 years of experience in senior financial management, including 10 years in the aviation sector. His background includes extensive experience in public and private markets, with strong technical capabilities in US GAAP/IFRS/ASPE and reporting expertise in heavily regulated environments. Merker has overseen successful integrations and acquisitions and has experience in highly-leveraged private equity environments. He previously served as Chief Financial Officer of Skyservice Business Aviation and as Vice President of Finance at Discovery Air, a publicly traded company.

Jason O'Neill, Chief Operating Officer

Jason O'Neill is a co-founder of Horizon Aircraft. He possesses over 20 years of experience in high-growth start-ups and is adept at managing mission-critical systems. His expertise includes navigating fundraising, cross-border mergers and acquisitions, and enterprise strategy within the highly regulated air transportation industry.

E. Brian Robinson, Founder and Chief Engineer

E. Brian Robinson founded Horizon Aircraft in 2013. He is credited with providing significant technical skill and aircraft thought leadership to the company. A licensed pilot since age 17, he has over 55 years of experience owning, operating, modifying, and maintaining various aircraft, and holds multiple aviation patents. His career includes founding a Transport Canada-approved Aircraft Maintenance Operation and holding several C-Suite positions in design and manufacturing.

Tom Brassington, Chief Technical Officer

As Chief Technical Officer, Tom Brassington leads the development of Horizon Aircraft's groundbreaking technologies, including the Cavorite X7 eVTOL. He has over 18 years of experience in aerospace engineering and oversees a multidisciplinary team focused on achieving technical excellence and operational scalability.

AI Analysis | Feedback

The key risks to New Horizon Aircraft (HOVR) are as follows:
  1. Financial Stability and Funding: New Horizon Aircraft is a pre-revenue company that has experienced negative operating cash flow, necessitating continuous capital raises. The company has faced concerns regarding shareholder dilution due to frequent equity offerings. As of September 2024, New Horizon Aircraft was notified of potential delisting from the Nasdaq Stock Market because it did not meet the required net income, market value of listed securities, or equity standards. The company was given until October 2024 to submit a compliance plan.
  2. Development, Certification, and Commercialization Delays: As an aerospace company developing a new hybrid electric vertical takeoff and landing (eVTOL) aircraft, the business heavily relies on the successful and timely development, certification, and commercialization of its Cavorite X7 prototype. Any delays or complications in the design, certification, manufacture, or production of its aircraft and related technology could adversely impact its business, financial condition, and operational results. The regulatory standards and certification processes for eVTOL aircraft are still evolving and present significant hurdles. The company aims to have the Cavorite X7 certified and flying before 2030.
  3. Market Acceptance and Insurance Challenges: The commercial success of eVTOL aircraft depends heavily on public acceptance, which is influenced by perceptions of safety and noise. A significant challenge for eVTOL manufacturers and operators, including New Horizon Aircraft, is securing affordable insurance. This difficulty stems from a lack of sufficient operational data for underwriters to assess risks, coupled with limited competition and flexibility in the aviation insurance market. The commercial viability of eVTOLs also relies on achieving high utilization rates and broad customer acceptance.

AI Analysis | Feedback

The primary emerging threat to New Horizon Aircraft is the potential dominance of pure-electric eVTOL aircraft, driven by rapid advancements in battery technology and electric propulsion systems. If pure-electric eVTOLs can achieve sufficient range, payload capacity, and economic viability for most intended missions, they could negate the competitive advantages of hybrid-electric designs (such as potentially longer range or higher payload). This would render hybrid-electric solutions less attractive due to their inherent complexity, higher maintenance requirements, and potentially greater environmental footprint compared to fully electric alternatives, thereby marginalizing companies focused on hybrid models.

AI Analysis | Feedback

New Horizon Aircraft Ltd. (NASDAQ: HOVR), an aerospace engineering company developing hybrid electric vertical takeoff and landing (eVTOL) aircraft, operates within several addressable markets related to advanced air mobility.

The global eVTOL aircraft market, which encompasses New Horizon Aircraft's core product area, was estimated at USD 1.35 billion in 2023 and is projected to reach USD 28.6 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 54.9% from 2024 to 2030. Another estimate places the global eVTOL aircraft market size at USD 3.31 billion in 2025, with a projection to surpass USD 216.02 billion by 2035 at a CAGR of 51.87% between 2026 and 2035. The hybrid electric segment within the broader eVTOL aircraft market is expected to experience particularly fast growth.

More specifically, the global hybrid electric aircraft market was valued at USD 3.90 billion in 2025 and is projected to grow to USD 465.60 billion by 2050, with a CAGR of 21.7% during that forecast period. North America held a significant share of this market, dominating the hybrid electric aircraft market with a 36.90% share in 2025.

New Horizon Aircraft's Cavorite X7 aircraft is designed for various applications, including critical medical supplies to remote areas, emergency response, business travel, and regional shuttle services. The company views the regional helicopter travel market as a significant opportunity for disruption. This market alone in North America was valued at over $19 billion in 2025.

AI Analysis | Feedback

New Horizon Aircraft (NASDAQ: HOVR) is an aerospace engineering company currently developing its hybrid-electric vertical takeoff and landing (eVTOL) aircraft, the Cavorite X7. As the company is pre-revenue, future revenue growth over the next 2-3 years is expected to be driven primarily by the following factors:

  1. Successful Testing, Certification, and Production of the Cavorite X7: The foundational driver for New Horizon Aircraft's revenue growth is the successful completion of testing and certification of its full-scale Cavorite X7 aircraft. The assembly of the first full-scale prototype is anticipated in 2026, with initial testing projected to commence in early 2027. Upon successful validation and regulatory approval, the company intends to scale unit production to meet expected market demand.
  2. Expansion into Target Markets: New Horizon Aircraft plans to target various sectors, including regional operators, emergency service providers, and military customers. The Cavorite X7 is designed for regional air mobility, focusing on city-to-city travel, and is positioned for potential use in military operations, cargo transport, and medevac services.
  3. Strategic Partnerships and Orders: A key indicator of future revenue is the company's ability to secure strategic partnerships and firm orders or Letters of Intent (LOIs). In April 2024, New Horizon Aircraft signed an LOI with JetSetGo, an Indian regional aviation fleet operator, for an initial purchase of 50 Cavorite X7 aircraft, with an option for an additional 50, totaling nearly USD 500 million. Further strategic partnerships, such as those for manufacturing components like wings and fuselages, are also underway.
  4. Competitive Advantages of the Cavorite X7: The Cavorite X7's design emphasizes operational efficiency and performance, which are expected to drive customer adoption. The aircraft is projected to operate up to 75% more cost-efficiently than conventional helicopters on a cost per available seat mile basis. Additionally, its hybrid architecture and patented fan-in-wing design offer advantages in redundancy, speed, range, and higher aircraft utilization, coupled with all-weather capability and low maintenance requirements. The company is targeting certification for Instrument Flight Rules (IFR) and Flight Into Known Icing (FIKI), which would enable consistent, year-round availability.

AI Analysis | Feedback

Share Issuance

  • New Horizon Aircraft closed an underwritten public offering on August 21, 2024, raising approximately $2.9 million in gross proceeds from the sale of Class A ordinary shares and warrants. If all warrants are exercised, the total gross proceeds could reach $7.25 million.
  • As of January 15, 2026, the company sold an additional 2.6 million shares, resulting in net proceeds of roughly CAD 10.8 million, which contributed to a total share count of 44.3 million.
  • On January 15, 2025, the company secured approximately USD $6.0 million from a financing deal (Canso Financing) to bolster its financial position.

Inbound Investments

  • New Horizon Aircraft received approximately USD $6.0 million from a financing deal, known as the Canso Financing, on January 15, 2025.
  • The company has attracted significant institutional investment, with 26 institutional owners and shareholders, including Renaissance Technologies Llc, Jane Street Group, Llc, and Marshall Wace, Llp, collectively holding 1,247,604 shares.

Capital Expenditures

  • In the trailing twelve months leading up to March 2026, capital expenditures amounted to -$578,357.
  • New Horizon Aircraft's average Capital Expenditures Margin over the past three and five years has been 0%.
  • Increased research and development (R&D) investments have been identified as a key part of the company's progress towards its 2026 milestones.

Peer Outperformance in Aerospace & Defense

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Share of Aerospace & Defense constituents that HOVR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
30%
of 70 industry peers · -25.6% return
3Y
12%
of 60 industry peers · -84.3% return
5Y
insufficient peer history
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Median price return by industry across the Industrials sector, ranked by 5Y. Aerospace & Defense is HOVR's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Construction & Engineering 31 7.0%104.6%189.6% FIX 2338% · STRL 2296% · CDNL 2275%
Marine Transportation 5 88.1%65.8%180.5% HOS 44163% · MATX 208% · SFL 181%
Construction Machinery & Heavy Transportation Equipment 13 11.7%58.9%128.8% CAT 364% · ALSN 258% · WAB 236%
Aerospace & Defense ← 55 -6.5%68.9%75.0% ATI 1076% · FTAI 1008% · HWM 661%
Rail Transportation 7 29.3%58.4%59.0% FSTR 147% · CSX 70% · RAIL 69%
Trading Companies & Distributors 19 4.3%37.2%50.9% DXPE 581% · AIT 305% · WCC 222%
Industrial Machinery & Supplies & Components 72 9.1%51.5%43.2% CRS 1278% · PSIX 1091% · EROC 652%
Diversified Support Services 33 13.4%34.2%36.0% LIME 3498% · TH 459% · WLFC 363%
Passenger Ground Transportation 3 -28.4%46.2%31.6% UBER 59% · CAR 32% · LYFT -72%
Cargo Ground Transportation 16 34.4%2.3%27.6% R 251% · XPO 242% · CVLG 163%
Electrical Components & Equipment 41 3.4%58.5%24.2% POWL 2383% · BE 1333% · VRT 958%
Building Products 33 -14.7%3.4%20.0% LMB 728% · GFF 398% · PPIH 301%
Industrial Conglomerates 17 7.9%6.5%7.9% RCMT 524% · CSW 142% · DD 76%
Agricultural & Farm Machinery 17 6.4%4.5%-2.4% BLBD 214% · DE 117% · GENC 58%
Environmental & Facilities Services 29 -11.1%24.2%-7.2% CECO 929% · ADUR 404% · NVRI 376%
Research & Consulting Services 13 -12.7%-22.8%-10.5% HURN 219% · CRAI 92% · GRNQ 67%
Data Processing & Outsourced Services 6 -33.4%-14.8%-24.6% EXLS 46% · BR 10% · G -23%
Passenger Airlines 11 3.2%13.3%-27.7% LTM 3169% · UAL 145% · SKYW 113%
Office Services & Supplies 9 7.4%12.6%-32.7% PBI 202% · TILE 148% · HNI 51%
Human Resource & Employment Services 22 6.5%-15.5%-36.3% BBSI 89% · ADP 54% · PAYX 25%
Air Freight & Logistics 12 -18.0%-19.7%-39.1% CHRW 97% · EXPD 67% · FDX 66%
Security & Alarm Services 10 -37.7%22.8%-44.9% CIX 157% · MG 128% · BCO 68%
Airport Services 3 -75.1%-78.7%-61.9% JOBY -35% · ASLE -62% · UP -100%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

HOVRJOBYACHREVEXMedian
NameNew Hori.Joby Avi.Archer A.Eve  
Mkt Price1.666.125.262.043.65
Mkt Cap0.15.94.10.72.4
Rev LTM0116703
Op Inc LTM-23-883-943-222-553
FCF LTM-17-743-681-211-446
FCF 3Y Avg--548-513-160-513
CFO LTM-16-610-540-195-368
CFO 3Y Avg--476-419-153-419

Growth & Margins

HOVRJOBYACHREVEXMedian
NameNew Hori.Joby Avi.Archer A.Eve  
Rev Chg LTM-118,568.4%--118,568.4%
Rev Chg 3Y Avg-----
Rev Chg Q-257,493.3%--257,493.3%
QoQ Delta Rev Chg LTM-49.7%263.2%-156.4%
Op Inc Chg LTM-72.7%-38.4%-66.5%-18.8%-52.5%
Op Inc Chg 3Y Avg--29.0%-29.6%-29.1%-29.1%
Op Mgn LTM--759.2%-13,666.7%--7,212.9%
Op Mgn 3Y Avg--233,956.4%---233,956.4%
QoQ Delta Op Mgn LTM-257.8%30,538.6%-15,398.2%
CFO/Rev LTM--524.5%-7,831.9%--4,178.2%
CFO/Rev 3Y Avg--164,003.8%---164,003.8%
FCF/Rev LTM--639.2%-9,869.6%--5,254.4%
FCF/Rev 3Y Avg--182,830.8%---182,830.8%

Valuation

HOVRJOBYACHREVEXMedian
NameNew Hori.Joby Avi.Archer A.Eve  
Mkt Cap0.15.94.10.72.4
P/S-51.0595.9-323.5
P/Op Inc-3.4-6.7-4.4-3.2-3.9
P/EBIT-3.4-6.7-4.4-3.6-4.0
P/E-2.4-6.8-5.1-3.4-4.2
P/CFO-4.9-9.7-7.6-3.7-6.2
Total Yield-41.2%-14.8%-19.4%-29.8%-24.6%
Dividend Yield0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg--8.6%-19.5%-13.9%-13.9%
D/E0.00.10.00.40.1
Net D/E-1.0-0.3-0.3-0.1-0.3

Returns

HOVRJOBYACHREVEXMedian
NameNew Hori.Joby Avi.Archer A.Eve  
1M Rtn-11.2%-18.7%-16.5%-22.4%-17.6%
3M Rtn-25.2%-38.8%-5.6%-27.9%-26.6%
6M Rtn-3.5%-33.7%-8.7%-15.0%-11.8%
12M Rtn-25.6%-63.1%-46.7%-49.0%-47.8%
3Y Rtn-84.3%-2.2%-4.5%-75.8%-40.2%
1M Excs Rtn-11.2%-20.0%-17.7%-22.8%-18.8%
3M Excs Rtn-27.2%-40.8%-7.6%-29.9%-28.6%
6M Excs Rtn-22.5%-52.6%-28.3%-31.9%-30.1%
12M Excs Rtn-19.4%-72.7%-57.5%-60.2%-58.8%
3Y Excs Rtn-155.5%-82.3%-90.0%-145.7%-117.8%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20232022
Single Segment00
Total00


Assets by Segment
$ Mil2025202420232022
Single Segment8511
Total8511


Price Behavior

Price Behavior
Market Price$1.66 
Market Cap ($ Bil)0.1 
First Trading Date04/03/2023 
Distance from 52W High-57.5% 
   50 Days200 Days
DMA Price$1.78$1.91
DMA Trenddowndown
Distance from DMA-6.7%-13.2%
 3M1YR
Volatility73.9%114.3%
Downside Capture415.81497.01
Upside Capture221.62385.61
Correlation (SPY)48.7%46.3%
HOVR Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta1.783.663.263.854.181.45
Up Beta1.724.344.424.294.690.98
Down Beta6.573.923.132.032.411.02
Up Capture83%246%155%717%2333%236%
Bmk +ve Days10213268138427
Stock +ve Days9162452108323
Down Capture216%391%324%273%197%112%
Bmk -ve Days11213259113324
Stock -ve Days11243466127376

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HOVR
HOVR-3.5%115.5%0.49-
Sector ETF (XLI)13.5%17.2%0.5737.1%
Equity (SPY)16.9%12.9%0.9446.2%
Gold (GLD)19.1%29.3%0.6029.9%
Commodities (DBC)46.3%20.6%1.73-4.6%
Real Estate (VNQ)4.9%13.6%0.107.5%
Bitcoin (BTCUSD)-30.6%44.3%-0.7030.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HOVR
HOVR-29.3%140.5%0.26-
Sector ETF (XLI)12.4%17.6%0.5418.0%
Equity (SPY)12.9%17.2%0.5714.8%
Gold (GLD)19.1%18.8%0.8313.5%
Commodities (DBC)11.2%19.5%0.45-0.4%
Real Estate (VNQ)1.1%18.8%-0.057.5%
Bitcoin (BTCUSD)12.5%52.5%0.4213.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HOVR
HOVR-15.9%140.5%0.26-
Sector ETF (XLI)13.1%20.1%0.5718.0%
Equity (SPY)15.1%18.0%0.7214.8%
Gold (GLD)12.1%16.4%0.6113.5%
Commodities (DBC)8.3%18.1%0.37-0.4%
Real Estate (VNQ)4.4%20.7%0.187.5%
Bitcoin (BTCUSD)62.6%66.2%1.0213.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity2.8 Mil
Short Interest: % Change Since 81520267.6%
Average Daily Volume0.6 Mil
Days-to-Cover Short Interest4.5 days
Basic Shares Quantity48.4 Mil
Short % of Basic Shares5.8%

Earnings Returns History

Updated 9/4/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/16/2026-12.3%11.7%16.4%
4/14/20260.0%12.2%42.9%
1/14/20265.0%22.6%-14.1%
10/10/2025-16.1%-8.8%-40.4%
SUMMARY STATS   
# Positive232
# Negative212
Median Positive2.5%12.2%29.7%
Median Negative-14.2%-8.8%-27.2%
Max Positive5.0%22.6%42.9%
Max Negative-16.1%-8.8%-40.4%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/16/2026-12.3%11.7%16.4%
4/14/20260.0%12.2%42.9%
1/14/20265.0%22.6%-14.1%
10/10/2025-16.1%-8.8%-40.4%
SUMMARY STATS   
# Positive232
# Negative212
Median Positive2.5%12.2%29.7%
Median Negative-14.2%-8.8%-27.2%
Max Positive5.0%22.6%42.9%
Max Negative-16.1%-8.8%-40.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
05/31/202607/16/202610-K
02/28/202604/14/202610-Q
11/30/202501/14/202610-Q
08/31/202510/10/202510-Q
05/31/202508/22/202510-K
02/28/202504/14/202510-Q
11/30/202401/14/202510-Q
08/31/202410/10/202410-Q
05/31/202408/15/202410-K
02/29/202404/22/202410-Q
05/31/202309/13/2023S-4
12/31/202203/28/202410-K
Collapse to Preview
Report DateFiling DateFiling
05/31/202607/16/202610-K
02/28/202604/14/202610-Q
11/30/202501/14/202610-Q
08/31/202510/10/202510-Q
05/31/202508/22/202510-K
02/28/202504/14/202510-Q
11/30/202401/14/202510-Q
08/31/202410/10/202410-Q
05/31/202408/15/202410-K
02/29/202404/22/202410-Q
05/31/202309/13/2023S-4
12/31/202203/28/202410-K

Recent Forward Guidance

Updated 8/6/2026

Latest: Q4 2026 Earnings Reported 7/16/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2027 HeadcountReported 100    


Prior: Q3 2026 Earnings Reported 4/14/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2027 Working Capital RunwayReported      
2027 Flight Testing CommencementReported      
2026 Prototype Assembly CompletionReported      

Q2 2026 Earnings Reported 1/14/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Engineering Headcount GrowthReported 100.0%    

Insider Activity

Updated 8/6/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Merker, Brian FrederickChief Executive OfficerDirectSell101620254.0046,000184,0001,061,144Form
2Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell101620253.42100,000342,0004,693,984Form
3Lee, Stewart MurrayHead of People and StrategyDirectSell101620253.72100,000372,000608,547Form
4Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell101620253.84140,000537,3205,651,493Form
5Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell100320252.2490,000201,7803,615,247Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Merker, Brian FrederickChief Executive OfficerDirectSell101620254.0046,000184,0001,061,144Form
2Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell101620253.42100,000342,0004,693,984Form
3Lee, Stewart MurrayHead of People and StrategyDirectSell101620253.72100,000372,000608,547Form
4Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell101620253.84140,000537,3205,651,493Form
5Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell100320252.2490,000201,7803,615,247Form
6Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell100320252.2390,000200,4303,791,490Form
7O'Neill, Jason MichaelChief Operating OfficerDirectSell80820251.7922,00039,380575,660Form
8Lee, Stewart MurrayHead of People & StrategyDirectSell80820251.7510,00017,500399,340Form
9Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell80820251.6749,60882,8452,993,492Form
10Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell80820251.61150,000242,1002,973,178Form
11Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell80820251.733926783,446,364Form
12O'Neill, Jason MichaelChief Operating OfficerDirectSell80820251.7240,00068,800590,989Form
13Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell80820251.7043,58374,0913,387,267Form
14Lee, Stewart MurrayHead of People & StrategyDirectSell80820251.7010,00017,000404,930Form
15Robinson, Eric BrandonChief Executive OfficerHeld by Robinson Family Ventures Inc.Sell80820251.7031,41753,4093,461,358Form
Core Cache Last Updated: 9/20/2026