Joby Aviation Inc. Common Stock (JOBY)

FairStock Score: 45/100 — MIXED

Key Financials

AI Analysis

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

I look for businesses that earn real money and sell at a discount to intrinsic value. Joby does neither yet. In fiscal Q2 2026, the quarter ended 2026-06-30, it reported revenue of $38.6 million and a net loss of $245.4 million, or $-0.25 per diluted share. In fiscal year 2025, ended 2025-12-31, revenue was $53.4 million while net loss was $929.8 million, or $-1.13 per share; fiscal year 2024 and fiscal year 2023 also showed losses of $608.0 million and $513.0 million. Revenue is small and lumpy relative to losses. FairStock’s 2026-10-13 close of $4.95 gives a $4.9 billion market cap, a P/B of 2.77, a negative P/E of -5.05, ROE of -65.90%, and an FCF yield of -15.2%. Trailing free cash flow was -$743.3 million, so shareholders are funding a long development runway. The balance sheet has D/E of 0.42, not reckless, but Altman Z-Score of 2.34 and Piotroski F-Score of 0/9 signal fragility. The Lynch screen finds no category because of losses in each of the last four years. I see no durable moat: certification, manufacturing scale, and capital are hurdles, but competitors can pursue them too. The 52-week range of $4.95 to $18.77 shows a broken market story. Maybe if commercial service arrives, revenue could scale from the $38.6 million quarterly level. But Graham would demand evidence and a margin of safety. At 2.77 times book with no profits, the price already discounts a lot of future success.

In plain English: Joby Aviation is developing electric aircraft that take off and land vertically, aiming to carry passengers and provide flight services. The company is not yet profitable and is spending far more cash than it brings in, so the business looks financially weak today. At $4.95 a share, the price is hard to judge by profits because there are none, and it looks expensive relative to its tiny sales and large losses.

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

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · 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