Ehang Holdings Ltd logo

Ehang Holdings Ltd(EH)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$4.54
09/24/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for EH

09/24/2026: EH (1-star) is currently NOT-A-BUY. Pass it for now.

Ehang Holdings Ltd is a speculative, growth-stage company specializing in autonomous aerial vehicle technology for urban mobility. Its primary strength lies in its first-mover advantage and the successful type certification of its EH216-S passenger craft, which validates its pilotless flight technology. The main investment opportunity centers on the company’s potential to define the urban air mobility infrastructure in China and eventually global markets. However, investors must weigh these prospects against high execution, regulatory, and competitive risks, as well as the company's reliance on early-stage commercial adoption. Ehang is best suited for growth-oriented investors and those comfortable with high volatility, while monitoring international regulatory milestones and flight safety performance is essential.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorStrong fitEhang represents a high-risk, high-reward play in the early-stage urban air mobility sector.
Momentum investorStrong fit while signal remains positiveThe stock often exhibits high volatility correlated with regulatory news and sector sentiment.
Value investorWeak fitThe company lacks stable earnings or a long-term track record of profitability.
Dividend investorWeak fitThe company is in a capital-intensive growth phase and does not pay dividends.
Low-risk investorWeak fitThe stock carries high regulatory, execution, and market-based risks.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighSpeculative sentiment in the UAM sector leads to significant stock price swings.
Valuation riskMedium / highHigh premiums are often applied based on future growth potential rather than current fundamentals.
Competition risk (UAM/eVTOL)HighWell-funded global competitors are racing to certify and deploy rival air mobility solutions.
Business qualityMediumThe business model is unproven at a mass-market commercial scale.
Dividend incomeLow / noneThe company prioritizes cash for R&D over shareholder distributions.
Execution riskHighScaling production and securing international regulatory approval are monumental challenges.

Price Behavior

Steep Decline
PRICE PATH

Steep Decline

The stock price has dropped sharply with strong downward pressure.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit -29.7%
Avg. Invested days 24
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/24/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
EH receives a 3-star rating, supported by strong analyst coverage. The rating is constrained by soft unit economics, and weak price momentum.

Company Fundamentals

★★★★★
EH has moderate overall fundamentals (3 stars), with soft financial health, soft growth momentum, and solid ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-20.1%), soft cash generation (FCF margin -76.2%), negative revenue growth (-8.4%).

Financial Health Rating

★★★★★
EH's financial health is supported by moderate liquidity, including working-capital and asset support (WC/assets 37.4%). Cash strength is soft (2 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
EH's growth profile is soft, with the least-weak measure being revenue growth at -8.4% FY2025 versus FY2024. By comparison, while earnings growth (-20.1%, negative) and free-cash-flow growth (-367.7%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 33.2% and approximately 97.0% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 7.83% supports management-shareholder alignment.

Top 5 Institutional Investors

Axim Planning & Wealth 2.71%
Susquehanna International Group, LLP 1.51%
Vanguard Capital Management, LLC 1.06%
Fidelity International Ltd 0.92%
UBS Group AG 0.89%

Unit Economics (Per $1K Revenue)

★★★★★
EH generates approximately $615 of gross profit, $-758 of operating income, and $-762 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 1.57%

Quantitative Style Profile

★★★★★
EH has a liquid profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedSmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 347.37M USD
Price to earnings Ratio -
1Y Target Price 9.95
Price to earnings Ratio -
1Y Target Price 9.95
Volume (30-day avg) 699.7K shares
Beta 1.17
52 Weeks Range 4.31 - 20.20
Updated Date 09/24/2026
52 Weeks Range 4.31 - 20.20
Updated Date 09/24/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.67

How Company Makes Money

Business areaWhat it includesRetail investor read
UAM OperationsSales and operation of the EH216-S for passenger transport and tourism.Revenue depends on selling vehicles to operators and potentially generating service fees from flight networks.
Smart City/LogisticsIntegration services for smart city AAV management and autonomous cargo delivery solutions.These represent secondary revenue streams focused on enterprise and government infrastructure clients.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE -
Enterprise Value 310.38M
Price to Sales(TTM) 0.91
Enterprise Value 310.38M
Price to Sales(TTM) 0.91
Enterprise Value to Revenue 5.44
Enterprise Value to EBITDA -1.96
Shares Outstanding 56.33M
Shares Floating 54.62M
Shares Outstanding 56.33M
Shares Floating 54.62M
Percent Insiders 7.83
Percent Institutions 33.23

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Ehang Holdings Ltd

Exchange NASDAQ
Headquarters -
IPO Launch date 2019-12-12
Founder, Chairman & CEO Mr. Huazhi Hu
Sector Industrials
Industry Aerospace & Defense
Full time employees 829
Full time employees 829

EHang Holdings Limited operates as an urban air mobility (UAM) technology platform company in the People's Republic of China, East Asia, West Asia, North America, South America, West Africa, and Europe. It designs, develops, manufactures, sells, and operates UAVs, as well as supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions. The company's product portfolio includes EH216 series, the VT series, the Falcon B, and the GD series. It also offers airborne operating systems, including autopilot and flight control, communication, battery management system, and safety management systems; and command-and-control system. In addition, the company has built a digital UAM operational platform architecture and visualized flight operation module for managing the eVTOL flight schedule, ground crew, vertiports and landing pads, and other factors for the entire front-line UAM operational process. Further, it offers vertiports for eVTOL aircraft operations and mobility efficiency; and charging piles for eVTOL aircraft. Additionally, the company provides air mobility solutions; smart city management, which centralizes and coordinates a range of UAV applications; and aerial media solutions for drone light shows. EHang Holdings Limited was incorporated in 2014 and is headquartered in Guangzhou, the People's Republic of China.