Joby Aviation, Inc. (JOBY) intrinsic value & 10-year financials
Joby Aviation, Inc. (JOBY) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 7 fiscal years revenue grew 619.5% a year to $53.4M, with an average return on invested capital of -28.0%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $4.66
- Market cap
- $3.9B
- Revenue (FY2025)
- $53.4M
- Revenue growth (7-yr CAGR)
- 619.5%
- ROIC (10-yr avg)
- -28.0%
- Free cash flow (FY2025)
- -$563.8M
JOBY 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $53.4M | -$929.8M | -$1.13 | -$563.8M | -1346.9% | -74.0% |
| FY2024 | $136.0K | -$608.0M | -$0.87 | -$476.9M | -438789.7% | -74.4% |
| FY2023 | $1.0M | -$513.0M | -$0.79 | -$344.4M | -45745.5% | -49.6% |
| FY2022 | $0 | -$258.0M | -$0.44 | -$290.8M | — | -55.9% |
| FY2021 | $0 | -$180.3M | -$0.30 | -$228.1M | — | -67.8% |
| FY2020 | — | -$114.2M | -$0.55 | -$129.2M | — | 153.6% |
| FY2019 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Joby Aviation, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Joby Aviation, Inc. has historically struggled to out-earn its cost of capital, averaging just -64.3% ROIC.
Joby Aviation, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Joby Aviation, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-37.53 per share.