Ehang Holdings LtdEhang Holdings Ltd
Ehang Holdings Ltd

Ehang Holdings Ltd

EH
Industrials·Aerospace & Defense

EHang Holdings Ltd. engages in the provision of aerial vehicle technology platform company. It also provides unmanned aerial vehicle ("UAV") systems and solutions: air mobility (including human transportation and logistics), smart city management, and aerial media solutions. The firm operates through the following geographical segments: P.R.C., West Asia, East Asia, South America, Europe, and Other. The company was founded by Huazhi Hu and Yifang Derrick Xiong in December 2014 and is headquartered in Guangzhou, China.

China
Market cap
No dataNo data
Revenue
$59.7M−4.4% YoY
Net income
$-39.5M−25.3% YoY
Free cash flow
$-46.8M−387.1% YoY

Market

Listed stock
EHPriceNasdaq
Loading…Loading…1Y

Financial performance

Revenue
$59.7M−4.4% YoY
Operating income
$-45.3M−30.1% YoY
Net income
$-39.5M−25.3% YoY
Free cash flow
$-46.8M−387.1% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $8.9M, 2022 $6.4M, 2023 $16.6M, 2024 $62.5M, 2025 $59.7M. Operating income: 2021 $-50.1M, 2022 $-43.6M, 2023 $-41.8M, 2024 $-34.8M, 2025 $-45.3M. Net income: 2021 $-49.1M, 2022 $-47.1M, 2023 $-42.6M, 2024 $-31.5M, 2025 $-39.5M. Free cash flow: 2021 $-21.4M, 2022 $-26.6M, 2023 $-13.6M, 2024 $16.3M, 2025 $-46.8M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
-4.4%−28166 bps YoY
Gross margin
No dataNo data
Operating margin
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FCF margin
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Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $-50.1M, 2022-12-31 $-43.6M, 2023-12-31 $-41.8M, 2024-12-31 $-34.8M, 2025-12-31 $-45.3M. Net income: 2021-12-31 $-49.1M, 2022-12-31 $-47.1M, 2023-12-31 $-42.6M, 2024-12-31 $-31.5M, 2025-12-31 $-39.5M. Free cash flow: 2021-12-31 $-21.4M, 2022-12-31 $-26.6M, 2023-12-31 $-13.6M, 2024-12-31 $16.3M, 2025-12-31 $-46.8M

Growth heatmap

2022202320242025CAGR
Revenue
-28.4%
+160.5%
+277.3%
-4.4%
+61.1%
Gross profit
-25.5%
+153.4%
+261.0%
-4.1%
+59.9%
Operating income
+12.9%
+4.2%
+16.7%
-30.1%
No data
Free cash flow
-24.0%
+49.0%
+220.1%
-387.1%
No data

Earnings quality

Operating cash flow
$-25.7M−218.6% YoY
Net income
$-39.5M−25.3% YoY
Free cash flow
$-46.8M−387.1% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 65%, 2024-12-31 -69%, 2023-12-31 29%, 2022-12-31 53%, 2021-12-31 39%. Free cash flow: 2025-12-31 119%, 2024-12-31 -52%, 2023-12-31 32%, 2022-12-31 56%, 2021-12-31 44%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
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Diluted shares
Latest
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
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Return on assets
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Return on invested capital
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Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
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EV / EBITDA
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Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
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Price to sales
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EV / EBITDA
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Free cash flow yield
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