ELVA
Electrovaya Inc.
ELVA has the edge over RDW overall, supported by stronger valuation and lower modeled downside.
RDW
Redwire Corporation
RDW offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
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.
RDW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
RDW's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
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.
RDW PE Valuation
RDW has no meaningful PE right now: it lost money over the past year.
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.
RDW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect RDW's losses to shrink, with revenue growing.
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 has the edge over RDW on earnings quality, reporting a profit while its opponent remains loss making.
RDW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.17 | +$2.01 |
| Q2 2026 | -$1.37 | +$1.89 |
| Q1 2026 | -$2.59 | -$0.32 |
| Q4 2025 | -$2.28 | +$0.07 |
| Q3 2025 | -$3.18 | -$1.97 |
| Q2 2025 | -$3.26 | -$2.28 |
| Q1 2025 | -$2.27 | -$1.55 |
| Q4 2024 | -$2.35 | -$1.62 |
RDW is still losing money, but far less than before: $1.17 per share over the past year, against $3.26 at its worst in mid-2025.
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 has the edge over RDW on profitability, with a higher operating margin.
RDW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $109M | +5.4% |
| Q2 2026 | $117.1M | +90% |
| Q1 2026 | $97M | +58% |
| Q4 2025 | $108.8M | +56% |
| Q3 2025 | $103.4M | +51% |
| Q2 2025 | $61.8M | -21% |
| Q1 2025 | $61.4M | -30% |
| Q4 2024 | $69.6M | +9.6% |
RDW has the edge over ELVA on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +16 points |
| Q2 2026 | -19% | +130 points |
| Q1 2026 | -72% | -49 points |
| Q4 2025 | -75% | -48 points |
| Q3 2025 | -40% | -22 points |
| Q2 2025 | -149% | -140 points |
| Q1 2025 | -23% | -19 points |
| Q4 2024 | -27% | -17 points |
RDW's operating margin was −24% last quarter, up 16 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.
RDW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$65.3M | -$38.5M |
| Q2 2026 | -$33.5M | +$57.2M |
| Q1 2026 | -$11.4M | +$35.5M |
| Q4 2025 | -$26.5M | -659% |
| Q3 2025 | -$26.9M | -$7.6M |
| Q2 2025 | -$90.6M | -$80.2M |
| Q1 2025 | -$46.9M | -3996% |
| Q4 2024 | $4.7M | -65% |
RDW has the edge over ELVA on cash flow, with more consistent year-over-year improvement.
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 the edge over RDW on shareholder dilution, with a more favorable share count trend.
| 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.
RDW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +29.6M shares |
| 1 year | +179% | +160M shares |
| 3 years | +289% | +186M shares |
| 5 years | +319% | +190M shares |
RDW has 250M diluted shares, up 179% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
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.
RDW Net Leverage
RDW's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
RDW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.3 | Neutral |
| Stochastic | 16.1 | Oversold |
RDW's weekly RSI is 42 (neutral) and its Stochastic is 16 (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.
RDW PE vs Industrials Sector
RDW has no meaningful PE right now: it lost money over the past year.
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 the edge over RDW on trend strength, trading above more of its moving averages.
RDW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.06 | 11% below |
| 20 week MA | $10.1 | 20% below |
| 50 week MA | $10.6 | 24% below |
| 100 week MA | $11.6 | 31% below |
| 200 week MA | $8.07 | 0.5% below |
RDW is in a downtrend: it's below all five of its weekly moving averages, and 0.5% below 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.
RDW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.2 | $7.34 | -28% |
| 2022 | $7.34 | $1.92 | -74% |
| 2023 | $1.92 | $2.85 | +48% |
| 2024 | $2.85 | $17.1 | +501% |
| 2025 | $17.1 | $7.15 | -58% |
| 2026 YTD | $7.15 | $8.03 | +12% |
RDW has the edge over ELVA on returns for 2026, with the stronger performance.