New Horizon Aircraft Ltd. Class A Ordinary Share (HOVR)

FairStock Score: 14/100 — RISKY

Key Financials

AI Analysis

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

I look for businesses with durable competitive advantages, honest accounting, and a margin of safety. New Horizon Aircraft does not yet fit that mold. It is attempting to build hybrid-electric VTOL aircraft, the Cavorite X7, in a capital-intensive aerospace niche. The filed figures show no revenue in any period given. In FY2023, the year ended 2023-12-31, net income was $8.6M, but the fiscal Q1 2024 quarter ended 2024-02-29 produced a net loss of $5.3M and diluted EPS of -$0.45, showing how quickly results can swing. FairStock’s price-based metrics at the 2026-10-13 close of $1.46 include a negative P/E of -2.70, P/B of 1.92, EPS of -$0.54, ROE of -89.81%, and ROCE of -31.81%. Those are not the marks of a mature compounder. Free cash flow is -$17.5M over the trailing twelve months, a -17.8% FCF yield, which means the company is consuming cash. The absence of debt, shown by D/E of 0.00, and a FairStock Altman Z-Score of 5.06 are helpful, but the Piotroski F-Score of 1/9 and FairStock Score of 14/100 signal very weak fundamental momentum. The Lynch category is none because there is only one year of filed results, so a long runway of financial history is missing. Beta of 3.86 suggests extreme price volatility. Without revenue, profits, or a clear moat, I cannot value this on earnings or assets with confidence. It may become interesting only if certification and commercialization produce real revenue and positive cash flow.

In plain English: New Horizon Aircraft is an early-stage aerospace company designing hybrid-electric vertical takeoff and landing aircraft, including the Cavorite X7. The filings given show no revenue and continuing losses, with cash burn and weak returns, so the business looks very speculative and financially weak. At the recent $1.46 close, the price does not look cheap on its reported assets or earnings, and there is little history to judge it.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

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

Sources (SEC EDGAR): fiscal Q1 2024 10-Q (period ended 2024-02-29) · fiscal Q4 2023 10-Q (period ended 2023-11-30) · fiscal Q2 2023 10-Q (period ended 2023-06-30) · fiscal Q4 2022 10-Q (period ended 2022-11-30) · FY2023 10-K (period ended 2023-12-31)

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