EHang Holdings Ltd EH
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Market cap
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52-week range
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.27
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $59.8M | $62.5M | $16.5M | $6.4M | $8.9M | $27.6M | $17.5M | — |
| Cost of revenue | $23.0M | $24.1M | $5.9M | $2.2M | $3.3M | $11.3M | $7.3M | — |
| Gross profit | $36.8M | $38.4M | $10.6M | $4.2M | $5.7M | $16.3M | $10.2M | — |
| R&D | $27.8M | $27.3M | $23.6M | $19.6M | $21.5M | $16.1M | $8.2M | — |
| SG&A | $38.6M | $32.0M | $21.1M | $21.9M | $29.4M | $9.4M | $5.3M | — |
| Total operating expenses | $83.8M | $77.3M | $53.2M | $49.2M | $57.7M | $31.3M | $17.4M | — |
| Operating income | -$45.3M | -$34.8M | -$41.7M | -$44.1M | -$50.3M | -$14.0M | -$6.7M | — |
| Interest expense | $855.0K | $462.0K | $413.0K | $554.0K | $283.0K | $358.0K | $120.0K | — |
| Pre-tax income | -$39.4M | -$31.5M | -$42.6M | -$47.7M | -$49.2M | -$14.1M | -$6.8M | — |
| Income tax | $630.0K | $53.0K | $29.0K | $11.0K | $21.0K | $32.0K | $108.0K | — |
| Net income | -$39.5M | -$31.5M | -$42.5M | -$47.6M | -$49.3M | -$13.4M | -$7.0M | — |
| EPS, basic | -0.27 | -0.23 | -0.35 | -0.41 | — | — | — | — |
| EPS, diluted | -0.27 | -0.23 | -0.35 | -0.41 | -0.44 | — | — | — |
| Shares, diluted (wtd. avg.) | 146,665 | 134,367 | 121,494 | 114,695 | 112,985 | 109,563 | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $36.7M | $87.4M | $31.3M | $35.1M | $35.8M | $22.0M | $49.3M | $8.8M |
| Short-term investments | $120.6M | $70.4M | $8.1M | $0 | $10.2M | $7.6M | $1.1M | — |
| Receivables | $16.0M | $8.0M | $4.9M | $2.9M | $8.8M | $25.0M | $5.9M | — |
| Inventory | $14.5M | $10.4M | $8.4M | $10.5M | $12.3M | $7.2M | $2.7M | — |
| Total current assets | $212.1M | $185.9M | $63.8M | $56.1M | $74.9M | $65.1M | $61.6M | — |
| Property, plant and equipment | $36.9M | $8.3M | $6.3M | $6.8M | $5.3M | $3.2M | $2.3M | — |
| Other intangibles | $388.0K | $359.0K | $342.0K | $284.0K | $117.0K | $163.0K | $174.0K | — |
| Total assets | $284.8M | $217.1M | $84.3M | $77.0M | $84.0M | $74.3M | $64.6M | — |
| Accounts payable | $18.9M | $17.5M | $4.9M | $5.1M | $7.1M | $8.1M | $3.9M | — |
| Short-term debt | — | — | — | — | — | $4.6M | — | — |
| Total current liabilities | $102.4M | $64.4M | $35.2M | $40.9M | $21.4M | $24.2M | $13.7M | — |
| Long-term debt | $11.8M | $2.8M | $1.3M | $558.0K | $2.7M | — | $4.7M | — |
| Total liabilities | $132.0M | $86.1M | $54.1M | $58.9M | $31.6M | $31.7M | $19.3M | — |
| Retained earnings | -$323.5M | -$271.9M | -$247.1M | -$210.3M | -$176.1M | -$123.8M | -$103.5M | — |
| Total equity | $152.9M | $130.9M | $214.2M | $18.0M | $52.2M | $42.3M | $42.6M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$25.7M | $21.6M | -$12.5M | -$25.1M | -$19.1M | -$23.2M | -$8.0M | — |
| Depreciation and amortisation | $2.7M | $1.8M | $1.8M | $1.2M | $1.2M | $949.0K | $815.0K | — |
| Stock-based compensation | $35.2M | $37.4M | $21.3M | $14.0M | $19.0M | $8.4M | $2.1M | — |
| Capital expenditure | $21.1M | $5.3M | $1.1M | $1.8M | $2.5M | $1.3M | $394.0K | — |
| Investing cash flow | -$72.5M | -$66.1M | -$18.1M | $8.2M | -$5.2M | -$10.1M | -$1.6M | — |
| Financing cash flow | $48.3M | $96.1M | $27.5M | $15.5M | $41.9M | $6.5M | $46.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-226608.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $17.5M | $27.6M | $8.9M | $6.4M | $16.5M | $62.5M | $59.8M |
| Gross profit | — | $10.2M | $16.3M | $5.7M | $4.2M | $10.6M | $38.4M | $36.8M |
| Net income | — | -$7.0M | -$13.4M | -$49.3M | -$47.6M | -$42.5M | -$31.5M | -$39.5M |
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