Joby Aviation Stock To $8?

Joby Aviation (JOBY) stock has fallen 17% during the past day, and is currently trading at $11.14. Our multi-factor assessment suggests that it may be time to reduce exposure to JOBY stock. We are primarily concerned current valuation and a price of $8 may not be out of reach. We believe there are only a couple of things to fear in JOBY stock given its overall Strong operating performance and financial condition. But given its Very High valuation, the stock appears Relatively Expensive.

Below is our assessment:

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Let’s get into details of each of the assessed factors but before that, for quick background: With $9.4 Bil in market cap, Joby Aviation provides aerial ridesharing services through innovative electric vertical takeoff and landing aircraft, revolutionizing urban transportation since 2009.

[1] Valuation Looks Very High

This table highlights how JOBY is valued vs broader market. For more details see: JOBY Valuation Ratios

[2] Growth Is Very Strong

• Joby Aviation has seen its top line grow at an average rate of 1934.5% over the last 3 years
• Its revenues have grown 1935% from $1.1 Mil to $23 Mil in the last 12 months
• Also, its quarterly revenues grew 80521.4% to $23 Mil in the most recent quarter from $28000.0 a year ago.

This table highlights how JOBY is growing vs broader market. For more details see: JOBY Revenue Comparison

[3] Profitability Appears Very Weak

• JOBY last 12 month operating income was $-663 Mil representing operating margin of -2926.6%
• With cash flow margin of -2107.5%, it generated nearly $-477 Mil in operating cash flow over this period
• For the same period, JOBY generated nearly $-1.1 Bil in net income, suggesting net margin of about -4657.2%

This table highlights how JOBY profitability vs broader market. For more details see: JOBY Operating Income Comparison

[4] Financial Stability Looks Very Strong

• JOBY Debt was $46 Mil at the end of the most recent quarter, while its current Market Cap is $9.4 Bil. This implies Debt-to-Equity Ratio of 0.5%
• JOBY Cash (including cash equivalents) makes up $978 Mil of $1.4 Bil in total Assets. This yields a Cash-to-Assets Ratio of 71.6%

[5] Downturn Resilience Is Moderate

JOBY saw an impact slightly better than the S&P 500 index during various economic downturns. We assess this based on both (a) how much the stock fell and, (b) how quickly it recovered.

2022 Inflation Shock

• JOBY stock fell 79.7% from a high of $15.70 on 16 February 2021 to $3.18 on 27 December 2022 vs. a peak-to-trough decline of 25.4% for the S&P 500.
• However, the stock fully recovered to its pre-Crisis peak by 16 July 2025
• Since then, the stock increased to a high of $20.39 on 4 August 2025 , and currently trades at $11.14

 
2020 Covid Pandemic

• JOBY stock fell 4.1% from a high of $11.84 on 28 December 2020 to $11.36 on 30 December 2020 vs. a peak-to-trough decline of 33.9% for the S&P 500.
• However, the stock fully recovered to its pre-Crisis peak by 12 January 2021

But the risk is not limited to major market crashes. Stocks fall even when markets are good – think events like earnings, business updates, outlook changes. Read JOBY Dip Buyer Analyses to see how the stock has recovered from sharp dips in the past.

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