NASDAQ : ELVA
Electrovaya Inc. — Financial statements
Industrials · Electrical Equipment & Parts · Canada
Last price 5.28 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 262.31M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Electrovaya Inc. (ELVA) reported revenue of 71.82M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 71.82M | 63.83M | 44.62M | 44.06M | 16.27M | 11.58M |
| Cost of Revenue | 48.12M | 44.11M | 30.93M | 32.20M | 12.40M | 7.72M |
| Gross Profit | 23.70M | 19.72M | 13.69M | 11.86M | 3.87M | 3.87M |
| Selling, General & Admin | 8.49M | 6.61M | 6.87M | 5.58M | 4.19M | 3.93M |
| Research & Development | 3.45M | 4.38M | 3.04M | 3.38M | 3.43M | 4.55M |
| Amortization of Goodwill & Intangibles | 319.00K | |||||
| Other Operating Expenses | -98.00K | -89.00K | -316.00K | -387.00K | -210.00K | -871.00K |
| Operating Expenses | 16.99M | 14.18M | 12.96M | 10.65M | 11.14M | 8.47M |
| Operating Income | 6.71M | 5.54M | 729.00K | 1.20M | -7.27M | -4.61M |
| Interest Expense | -2.21M | -2.75M | -3.70M | -2.47M | -3.03M | -2.67M |
| Currency Exchange Gain (Loss) | -1.34M | -560.00K | 152.00K | -887.00K | 1.09M | -256.00K |
| Other Non Operating Income (Expenses) | -915.00K | -915.00K | 1.33M | |||
| EBT Excluding Unusual Items | 2.26M | 1.31M | -1.49M | -2.16M | -9.21M | -7.53M |
| Pretax Income | 2.26M | 1.31M | -1.49M | -2.16M | -9.21M | -7.53M |
| Income Tax Expense | -2.15M | -2.05M | -679.00K | |||
| Earnings From Continuing Operations | 4.41M | 3.36M | -1.49M | -1.48M | -9.21M | -7.53M |
| Net Income | 4.41M | 3.36M | -1.49M | -1.48M | -9.21M | -7.53M |
| Net Income to Common | 4.41M | 3.36M | -1.49M | -1.48M | -9.21M | -7.53M |
| Shares Outstanding (Basic) | 47.10M | 39.08M | 34.01M | 33.83M | 29.34M | 27.98M |
| Shares Outstanding (Diluted) | 48.98M | 41.37M | 34.01M | 33.83M | 29.34M | 27.98M |
| EPS (Basic) | 0.09 | 0.09 | -0.04 | -0.04 | -0.31 | -0.27 |
| EPS (Diluted) | 0.09 | 0.08 | -0.04 | -0.04 | -0.31 | -0.27 |
| Free Cash Flow | -15.63M | -2.89M | 913.00K | -5.74M | -9.03M | -8.68M |
| Free Cash Flow Per Share | -0.32 | -0.07 | 0.03 | -0.17 | -0.31 | -0.31 |
| Gross Margin | 33.00% | 30.90% | 30.68% | 26.91% | 23.81% | 33.37% |
| Operating Margin | 9.35% | 8.68% | 1.63% | 2.73% | -44.68% | -39.79% |
| Profit Margin | 6.14% | 5.27% | -3.33% | -3.36% | -56.61% | -65.04% |
| Free Cash Flow Margin | -21.76% | -4.53% | 2.05% | -13.03% | -55.49% | -74.90% |
| EBITDA | 7.72M | 6.60M | 1.48M | 1.70M | -7.02M | -4.57M |
| EBITDA Margin | 10.74% | 10.34% | 3.33% | 3.87% | -43.17% | -39.45% |
| D&A For EBITDA | 1.00M | 1.06M | 755.00K | 501.00K | 245.00K | 39.00K |
| EBIT | 6.71M | 5.54M | 729.00K | 1.20M | -7.27M | -4.61M |
| EBIT Margin | 9.35% | 8.68% | 1.63% | 2.73% | -44.68% | -39.79% |
Balance sheet
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 13.08M | 6.36M | 781.00K | 1.03M | 626.00K | 4.20M |
| Cash & Short-Term Investments | 13.08M | 6.36M | 781.00K | 1.03M | 626.00K | 4.20M |
| Accounts Receivable | 28.73M | 13.71M | 10.51M | 9.15M | 2.86M | 958.00K |
| Other Receivables | 1.25M | 2.76M | 779.00K | 1.46M | 51.00K | 383.00K |
| Receivables | 29.98M | 16.47M | 11.29M | 10.61M | 2.91M | 1.34M |
| Inventory | 29.36M | 18.28M | 16.68M | 13.67M | 7.36M | 4.67M |
| Prepaid Expenses | 363.00K | 192.00K | 666.00K | 594.00K | 3.89M | 1.82M |
| Restricted Cash | 3.17M | 656.00K | ||||
| Total Current Assets | 75.96M | 41.96M | 29.42M | 25.91M | 14.79M | 12.03M |
| Property, Plant & Equipment | 17.55M | 11.47M | 9.21M | 10.15M | 7.31M | 2.87M |
| Other Intangible Assets | 1.50M | 1.58M | 766.00K | |||
| Long-Term Deferred Tax Assets | 2.17M | 2.07M | ||||
| Other Long-Term Assets | 21.36M | 6.87M | 90.00K | 459.00K | 88.00K | 79.00K |
| Total Assets | 118.52M | 63.93M | 39.48M | 36.51M | 22.19M | 14.98M |
| Accounts Payable | 5.98M | 6.75M | 7.04M | 6.04M | 3.13M | 1.66M |
| Accrued Expenses | 3.32M | 2.78M | 2.39M | 1.20M | 545.00K | 1.39M |
| Short-Term Debt | 18.43M | 16.30M | 17.25M | 8.64M | ||
| Current Portion of Leases | 777.00K | 358.00K | 471.00K | 389.00K | 164.00K | 140.00K |
| Current Unearned Revenue | 1.00M | |||||
| Other Current Liabilities | 188.00K | 204.00K | 2.68M | 1.57M | 617.00K | |
| Total Current Liabilities | 10.08M | 10.08M | 28.53M | 26.61M | 22.66M | 13.45M |
| Long-Term Debt | 38.27M | 20.74M | 3.46M | |||
| Long-Term Leases | 2.02M | 1.46M | 1.87M | 2.34M | 2.23M | 2.60M |
| Other Long-Term Liabilities | 923.00K | 525.00K | 495.00K | 419.00K | 542.00K | 617.00K |
| Total Liabilities | 51.29M | 32.80M | 30.90M | 29.37M | 28.90M | 16.67M |
| Common Stock | 172.00M | 134.87M | 116.41M | 115.04M | 103.31M | 102.50M |
| Additional Paid-In Capital | 12.51M | 11.51M | 10.90M | 9.25M | 8.10M | 4.90M |
| Retained Earnings | -123.52M | -125.88M | -129.24M | -127.76M | -128.97M | -127.13M |
| Comprehensive Income & Other | 6.24M | 10.63M | 10.52M | 10.62M | 10.86M | 18.03M |
| Total Common Equity | 67.23M | 31.13M | 8.59M | 7.15M | -6.71M | -1.70M |
| Shareholders' Equity | 67.23M | 31.13M | 8.59M | 7.15M | -6.71M | -1.70M |
| Total Liabilities & Equity | 118.52M | 63.93M | 39.48M | 36.51M | 22.19M | 14.98M |
| Total Debt | 41.06M | 22.56M | 20.77M | 19.03M | 23.11M | 11.38M |
| Net Cash (Debt) | -27.97M | -16.20M | -19.99M | -18.00M | -22.48M | -7.18M |
| Net Cash Per Share | -0.57 | -0.39 | -0.59 | -0.53 | -0.77 | -0.26 |
| Filing Date Shares Outstanding | 50.00M | 42.11M | 34.14M | 33.83M | 29.44M | 29.19M |
| Total Common Shares Outstanding | 50.00M | 42.11M | 34.14M | 33.83M | 29.44M | 29.19M |
| Working Capital | 65.87M | 31.88M | 887.00K | -705.00K | -7.87M | -1.43M |
| Book Value Per Share | 1.34 | 0.74 | 0.25 | 0.21 | -0.23 | -0.06 |
| Tangible Book Value | 65.74M | 29.55M | 7.82M | 7.15M | -6.71M | -1.70M |
| Tangible Book Value Per Share | 1.31 | 0.70 | 0.23 | 0.21 | -0.23 | -0.06 |
| Land | 215.00K | 215.00K | 215.00K | 7.70M | 5.11M | |
| Buildings | 7.49M | 7.49M | 7.49M | |||
| Machinery | 3.10M | 2.63M | 1.91M | 1.78M | 1.30M | 1.36M |
| Construction In Progress | 5.18M | 2.05M | ||||
| Leasehold Improvements | 2.42M | 329.00K | 76.00K | 76.00K | 39.00K | 42.00K |
Cash flow statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 4.41M | 3.36M | -1.49M | -1.48M | -9.21M | -7.53M |
| Depreciation & Amortization | 1.78M | 1.45M | 1.21M | 907.00K | 503.00K | 319.00K |
| Loss (Gain) From Sale of Assets | 73.00K | 73.00K | ||||
| Stock-Based Compensation | 3.29M | 1.76M | 2.15M | 1.17M | 3.22M | 541.00K |
| Provision & Write-off of Bad Debts | 51.00K | |||||
| Other Operating Activities | 2.48M | 2.19M | 1.36M | 2.29M | 3.03M | 1.16M |
| Change in Accounts Receivable | -10.88M | -5.18M | -732.00K | -7.84M | -1.63M | 1.15M |
| Change in Inventory | -6.63M | -3.04M | -1.42M | -724.00K | -2.79M | -2.64M |
| Change in Accounts Payable | -726.00K | 68.00K | 1.59M | 2.55M | 43.00K | -665.00K |
| Change in Unearned Revenue | -1.08M | |||||
| Change in Other Net Operating Assets | -2.15M | 1.03M | -1.69M | -2.10M | -2.00M | 628.00K |
| Operating Cash Flow | -8.34M | 1.72M | 1.04M | -5.24M | -8.82M | -8.12M |
| Capital Expenditures | -7.29M | -4.61M | -125.00K | -505.00K | -203.00K | -560.00K |
| Other Investing Activities | -24.26M | -7.43M | -541.00K | -398.00K | -9.00K | |
| Investing Cash Flow | -31.55M | -12.04M | -666.00K | -903.00K | -212.00K | -560.00K |
| Short-Term Debt Issued | 79.76M | 52.25M | 35.73M | 21.52M | ||
| Long-Term Debt Issued | 4.37M | 5.00K | ||||
| Total Debt Issued | 86.56M | 84.13M | 52.25M | 35.73M | 21.52M | 5.00K |
| Short-Term Debt Repaid | -78.41M | -47.80M | -39.13M | -11.44M | -1.53M | |
| Long-Term Debt Repaid | -2.36M | -2.61M | -1.46M | -894.00K | -108.00K | |
| Lease Payments | -1.02M | -732.00K | -735.00K | -707.00K | -744.00K | -108.00K |
| Total Debt Repaid | -66.46M | -80.78M | -50.42M | -40.59M | -12.33M | -1.64M |
| Net Debt Issued (Repaid) | 20.10M | 3.35M | 1.83M | -4.86M | 9.19M | -1.64M |
| Issuance of Common Stock | 35.29M | 16.38M | 131.00K | 10.19M | 807.00K | 12.94M |
| Other Financing Activities | -2.97M | -3.83M | -2.59M | 1.22M | -2.11M | -387.00K |
| Financing Cash Flow | 52.42M | 15.90M | -629.00K | 6.55M | 7.89M | 10.92M |
| Foreign Exchange Rate Adjustments | -731.00K | 6.00K | -9.00K | -2.42M | 838.00K | |
| Net Cash Flow | 11.79M | 5.58M | -251.00K | 406.00K | -3.58M | 3.08M |
| Free Cash Flow | -15.63M | -2.89M | 913.00K | -5.74M | -9.03M | -8.68M |
| Free Cash Flow Margin | -21.76% | -4.53% | 2.05% | -13.03% | -55.49% | -74.90% |
| Free Cash Flow Per Share | -0.32 | -0.07 | 0.03 | -0.17 | -0.31 | -0.31 |
| Levered Free Cash Flow | -22.05M | -6.53M | -2.67M | -5.26M | -8.68M | -6.85M |
| Unlevered Free Cash Flow | -20.68M | -4.81M | -358.38K | -3.72M | -6.78M | -5.18M |
| Free Cash Flow After Leases | -16.65M | -3.63M | 178.00K | -6.45M | -9.77M | -8.78M |
| Cash Interest Paid | 1.28M | 2.12M | 2.23M | 1.79M | 2.31M | 1.44M |
| Change in Working Capital | -20.38M | -7.12M | -2.25M | -8.12M | -6.37M | -2.60M |
Ratios
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 262.31M | 236.11M | 79.84M | 91.43M | 105.02M | 145.92M |
| Enterprise Value | 290.78M | 255.23M | 100.15M | 109.60M | 121.70M | 155.99M |
| Last Close Price | 5.28 | 5.89 | 2.33 | 2.83 | 3.55 | 5.00 |
| PE Ratio | 55.49 | 70.21 | ||||
| PS Ratio | 3.65 | 3.70 | 1.79 | 2.08 | 6.46 | 12.60 |
| PB Ratio | 3.90 | 7.58 | 9.30 | 12.79 | -15.66 | -86.04 |
| P/TBV Ratio | 3.99 | 7.99 | 10.21 | 12.79 | ||
| P/FCF Ratio | 87.45 | |||||
| P/OCF Ratio | 137.51 | 76.92 | ||||
| EV/Sales Ratio | 4.05 | 4.00 | 2.25 | 2.49 | 7.48 | 13.47 |
| EV/EBITDA Ratio | 37.69 | 38.66 | 67.49 | 64.32 | ||
| EV/EBIT Ratio | 43.30 | 46.07 | 137.38 | 91.10 | ||
| EV/FCF Ratio | 109.69 | |||||
| Debt / Equity Ratio | 0.61 | 0.72 | 2.42 | 2.66 | -3.45 | -6.71 |
| Debt / EBITDA Ratio | 5.00 | 3.23 | 10.72 | 9.02 | ||
| Debt / FCF Ratio | 22.75 | |||||
| Net Debt / Equity Ratio | 0.42 | 0.52 | 2.33 | 2.52 | -3.35 | -4.24 |
| Net Debt / EBITDA Ratio | 3.62 | 2.45 | 13.47 | 10.56 | -3.20 | -1.57 |
| Net Debt / FCF Ratio | -1.79 | -5.60 | 21.90 | -3.14 | -2.49 | -0.83 |
| Asset Turnover | 0.83 | 1.23 | 1.17 | 1.50 | 0.88 | 0.90 |
| Inventory Turnover | 1.94 | 2.52 | 2.04 | 3.06 | 2.06 | 2.31 |
| Quick Ratio | 4.27 | 2.27 | 0.42 | 0.44 | 0.16 | 0.41 |
| Current Ratio | 7.53 | 4.16 | 1.03 | 0.97 | 0.65 | 0.89 |
| Return on Equity (ROE) | 9.85% | 16.94% | -18.88% | -673.80% | ||
| Return on Assets (ROA) | 4.87% | 6.70% | 1.20% | 2.56% | -24.45% | -22.49% |
| Return on Capital Employed (ROCE) | 6.20% | 10.30% | 6.70% | 12.10% | 1,536.80% | -302.40% |
| Earnings Yield | 1.80% | 1.42% | -1.86% | -1.62% | -8.77% | -5.16% |
| FCF Yield | -5.96% | -1.23% | 1.14% | -6.28% | -8.60% | -5.95% |
| Buyback Yield / Dilution | -26.43% | -21.65% | -0.53% | -15.29% | -4.88% | -16.94% |