Electrovaya Inc. Common Shares (ELVA)

FairStock Score: 48/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

At the close on 2026-10-13, Electrovaya traded at $5.24, giving a $497.8M market cap. FairStock's calculations show a P/E of 52.40, P/B of 3.91, EV/EBITDA of 82.78, and PEG of 2.28. Those are not Graham bargain numbers. The Graham Number is $1.74, so the margin of safety is -201.15%; I want to buy assets and earnings at a discount, not a large premium. In the latest filed quarter, fiscal Q2 2026, the company reported revenue of $17.7M and net income of $305,000, a 1.72% margin. That is a razor-thin profit. Trailing free cash flow is -$36.7M, a -7.4% FCF yield, meaning the business consumes cash. Returns are modest: ROE 9.85% and ROCE 4.87%, and the Piotroski F-Score is 2/9. The Altman Z-Score of 5.20 and D/E of 0.61 offer some balance-sheet comfort, but battery manufacturing is competitive and capital-intensive, and I see no clear durable moat. FairStock's Lynch category is none because only 0 years of filed results are available, needing 3. With a beta of 0.54 and a 52-week range of $4.10-$12.78, the shares have been volatile. I prefer consistent earning power and cash generation bought at a sensible price. Electrovaya has growth potential, but the current price already assumes much more than the current numbers justify.

In plain English: Electrovaya makes lithium-ion batteries and battery systems for energy storage, electric vehicles, and specialty equipment. The business is profitable but only barely, and it is using more cash than it brings in. At the recent share price, investors are paying a lot for those earnings and assets, so the price looks expensive versus the numbers shown.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer