Joby Aviation

JOBY

Airlines, Airports & Air Services · Industrials

Price

$7.23

-0.11 (-1.50%)

Market Cap

$7.11B

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+39.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 591.5M (2021) → 826.2M (2025)

Joby Aviation is building a small electric aircraft that takes off and lands like a helicopter but flies more quietly and efficiently. The company is developing what is called an "air taxi" — a vehicle designed to carry a pilot and up to four passengers on short trips over cities. Joby is one of the leading companies in the emerging electric vertical takeoff and landing (eVTOL) industry in the United States.

Joby does not yet earn meaningful revenue because its aircraft is still in the testing and certification phase. The company is funded largely through investor capital and a partnership with Toyota, which has contributed significant funding and manufacturing expertise. Joby must receive approval from the Federal Aviation Administration before it can begin commercial flights, and that regulatory process remains the single biggest risk to the business — delays could push back any revenue generation by years.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

YoY Growth Rate

Revenue data limited

EPS Growth

-9.1% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$581M/ year

↑ Rising (+22% vs prior year)

>1,000% of revenue

271.9x the sector average (4%)

Investing heavily in future products and technology

Insider Activity

32.7%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~12 months

$875M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Heavy R&D investment

Joby Aviation is putting 1088% of revenue into R&D and that number is rising. That's 271.9x the sector average.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

22.4%

Thin — 22.4% gross margin

Operating Margin

-963.4%

Losing money on operations — -963.4%

ROCE

-8.7%

Weak — -8.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+69873.9%

Fast-growing sales (69873.9% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-851.3%

Burning cash (-851.3%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.38

Conservative — low debt load (0.38)

Interest Cover

N/A

—

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial