Latest Ratios: P/E Ratio 0.3x · EV/EBITDA N/A · ROE N/A. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $87M | $678M | $256M | $132M | $608M | — | $384M | — |
| Enterprise Value | $247M | $799M | $235M | $86M | $779M | — | $390M | — |
| P/E Ratio → | 0.28 | 2.91 | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | 4408.47 | — |
| P/B Ratio | — | — | — | — | 83.14 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | 4483.08 | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / EBIT | — | 3.94 | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | 51.5% | 49.4% | 5.7% |
| Operating Margin | — | — | — | — | — | -210029.5% | -13235.6% | -10640.0% |
| Net Profit Margin | — | — | — | — | — | -185775.8% | -14167.8% | -10691.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -274.0% | -809.0% | -764.6% | -179.8% |
| ROA | 305.0% | 305.0% | -1185.3% | -50.9% | -49.1% | -202.5% | -152.3% | -102.4% |
| ROIC | — | — | — | -186.0% | -103.9% | — | -175.3% | -129.9% |
| ROCE | — | — | -126.4% | -254.4% | -99.9% | -304.6% | -403.2% | -130.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 31.93 | 1.86 | — | 0.28 |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | 23.33 | -1.59 | — | 0.03 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | 1056.14 | 1056.14 | -0.09 | -4.05 | -5.27 | — | -11.40 | -162.35 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.45 | 0.45 | 2.56 | 4.17 | 1.05 | 4.39 | 0.49 | 1.57 |
| Quick Ratio | 0.45 | 0.45 | 2.56 | 4.17 | 1.05 | 4.39 | 0.49 | 1.57 |
| Cash Ratio | 0.32 | 0.32 | 1.36 | 2.64 | 0.90 | 4.14 | 0.09 | 0.65 |
| Asset Turnover | — | — | — | — | — | 0.00 | 0.01 | 0.01 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | 16831.48 | 11742.93 | 5923.43 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 100.0% | 34.3% | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | — |
| Shares Outstanding | — | $127M | $20M | $19M | $18M | $0 | $4M | $10M |
Includes 30+ ratios · 7 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying EVTL stock.
Vertical Aerospace Ltd.'s current P/E ratio is 0.3x. The historical average is 2.9x.
Based on historical data, Vertical Aerospace Ltd. is trading at a P/E of 0.3x. Compare with industry peers and growth rates for a complete picture.
Key Metrics
Top Statement Risk
Liquidity and Certification Delays
Persistent Negative Returns on Capital
As reported in financial statements, EVTL's ROIC has remained consistently negative, reaching -9.8% in 2026Q1, which underscores the company's inability to generate productive returns on invested capital while it remains in a pre-revenue development phase characterized by heavy R&D spending and ongoing prototype testing requirements.
The persistent negative ROIC suggests that the capital deployed into the VX4 program is currently consuming value rather than compounding it. Investors should monitor whether the company can transition toward positive returns once certification is achieved, though current trends indicate that efficiency remains secondary to survival.
Working Capital Volatility and Constraints
Based on reported figures, the company's working capital management appears highly irregular, with the cash conversion cycle and related metrics showing significant instability as the firm navigates the complex procurement of aerospace components without the benefit of established, recurring revenue streams to stabilize its operational cash flows.
The lack of consistent turnover metrics suggests that the company is struggling to optimize its supplier relationships, likely due to its reliance on Tier 1 partners for critical subsystems. This inefficiency may exacerbate liquidity pressures as the company attempts to scale its assembly operations in Bristol.
Tightening Liquidity and Runway Risks
According to recent quarterly filings, the current ratio has compressed to 0.88 as of 2026Q1, signaling a tightening liquidity buffer that leaves the company with limited flexibility to absorb potential technical setbacks or delays in the critical VX4 aircraft certification timeline over the coming fiscal year.
A current ratio below 1.0 indicates that current liabilities are beginning to outpace liquid assets, which warrants close investigation into the company's ability to meet short-term obligations. This vulnerability appears to necessitate the periodic, founder-led funding rounds that have become a hallmark of the firm's capital strategy.
Misapplied Focus on Book Value
As indicated by the provided financial data, the price-to-book ratio is a fundamentally flawed metric for evaluating EVTL, as the company's equity position has deteriorated into a deficit of $12.3 million, rendering traditional valuation multiples based on accounting net assets entirely meaningless for this development-stage entity.
Investors should instead focus on the 'cash runway' and the probability-weighted value of the order book, as book value fails to capture the intangible value of the company's certification progress and partner ecosystem. Relying on P/B ratios in this context obscures the reality of the company's capital-intensive, pre-revenue business model.