ELVA
Electrovaya Inc.
ELVA's fundamentals are mixed, but it looks cheap: trading at 49x earnings, below its usual 88x. Analysts expect strong earnings growth.
ELVA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Weak | |
| Under pressure |
ELVA's revenue and profitability are currently healthy, but its cash flow and balance sheet are under pressure.
ELVA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 25x | $4.75 | — |
| Current | 49x | $4.75 | — |
| Cheap | 58x | $5.81 | +22% |
| Fair | 88x | $8.77 | +85% |
| Expensive | 196x | $19.62 | +313% |
Historical ranges are pointers, not guarantees.
ELVA's PE is in its cheap range at 49x. If earnings grow as analysts expect, today's price would be 25x next year's earnings.
ELVA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ELVA, with profitability improving.
ELVA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.19 | +93% |
| Q2 2026 | $0.10 | +233% |
| Q1 2026 | $0.11 | +$0.11 |
| Q4 2025 | $0.11 | +$0.16 |
| Q3 2025 | $0.08 | +$0.12 |
| Q2 2025 | $0.03 | 0% |
| Q1 2025 | -$0.00 | -100% |
| Q4 2024 | -$0.05 | -267% |
| Q3 2024 | -$0.04 | +$0.04 |
ELVA earned $0.10 per share over the past year, about three times what it earned the year before.
ELVA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $17.3M | +0.8% |
| Q1 2026 | $17.8M | +19% |
| Q4 2025 | $15.6M | +39% |
| Q3 2025 | $20.3M | +75% |
| Q2 2025 | $17.1M | +67% |
| Q1 2025 | $15M | +40% |
| Q4 2024 | $11.2M | -7.6% |
| Q3 2024 | $11.6M | -33% |
ELVA's revenue has grown year over year for six quarters in a row: $17M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 8.6% | -2.8 points |
| Q1 2026 | 8.5% | -0.8 points |
| Q4 2025 | 8.8% | +11 points |
| Q3 2025 | 12% | +5.6 points |
| Q2 2025 | 11% | +17 points |
| Q1 2025 | 9.3% | +2.7 points |
| Q4 2024 | -1.7% | -0.9 points |
| Q3 2024 | 6.1% | -20 points |
ELVA's operating margin was 8.6% last quarter, down 2.8 points from the same quarter a year ago.
ELVA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$14.2M | -$10.2M |
| Q1 2026 | -$22.1M | -$16.8M |
| Q4 2025 | -$14.2M | -$13.9M |
| Q3 2025 | $6.4M | +2053% |
| Q2 2025 | -$4.1M | -$3.9M |
| Q1 2025 | -$5.4M | -$4.1M |
| Q4 2024 | -$287K | -167% |
| Q3 2024 | $298K | -91% |
ELVA has burned cash in most quarters: −$44M over the past year, against −$9M the year before.
ELVA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.6% | +838K shares |
| 1 year | +16% | +7.1M shares |
| 3 years | +59% | +19.5M shares |
| 5 years | +84% | +24M shares |
| Available history | +141% | +30.7M shares |
ELVA has 52M diluted shares, up 16% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
ELVA hasn't bought back shares in the past year.
ELVA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 3.9x | Elevated |
| Q1 2026 | 2.0x | Moderate |
| Q4 2025 | 0.9x | Very low |
| Q3 2025 | 3.0x | Moderate |
| Q2 2025 | 3.7x | Elevated |
| Q1 2025 | 3.5x | Elevated |
| Q4 2024 | 3.2x | Elevated |
| Q3 2024 | 6.4x | High |
ELVA's net debt is about 3.9 years of its operating earnings (EBITDA), up from 3.7 years a year ago.
ELVA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.5 | Neutral |
| Stochastic | 7.2 | Oversold |
ELVA's weekly RSI is 34 (neutral) and its Stochastic is 7 (oversold).
ELVA PE vs Industrials Sector
| Metric | ELVA | Sector median | Relative |
|---|---|---|---|
| PE | 49x | 24x | 105% above |
| PE % | 6 | 58 | 52 pts below |
ELVA is trading at 49x earnings, a 105% premium to the Industrials sector's median of 24x.
ELVA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $5.49 | 13% below |
| 20 week MA | $6.96 | 32% below |
| 50 week MA | $8.09 | 41% below |
| 100 week MA | $5.96 | 20% below |
| 200 week MA | $4.60 | 3.3% above |
ELVA has fallen below most of its moving averages, though it's still 3.3% above its 200-week average.
ELVA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $0.65 | $6.30 | +869% |
| 2021 | $6.30 | $3.75 | -40% |
| 2022 | $3.75 | $4.00 | +6.7% |
| 2023 | $4.00 | $3.06 | -24% |
| 2024 | $3.06 | $2.45 | -20% |
| 2025 | $2.45 | $7.98 | +226% |
| 2026 YTD | $7.98 | $4.75 | -40% |
ELVA's yearly returns have swung widely, from +869% in 2020 to −40% in 2021. It's down 40% so far in 2026.