Electrovaya - Public Comps and Valuation Multiples

Electrovaya Overview

About Electrovaya

Electrovaya Inc is a technology-focused lithium-ion battery company engaged in designing, developing and manufacturing battery cells, modules and systems based on its proprietary Infinity Battery Technology, which provides high safety performance, long cycle life and durability. The Company supplies low-voltage and high-voltage battery systems for industrial and transportation markets, including material-handling equipment, robotic vehicles, electric buses and trucks, and energy-storage installations, and its products are suitable for mission-critical applications. it maintains an expanding intellectual-property portfolio, develops next-generation solid-state and hybrid solid-state battery technologies, and sells its products through OEM relationships, dealer networks and direct sales.

Founded

1996

HQ

Employees

123

Website

electrovaya.com

Sectors

Energy Storage

Financials

LTM Revenue $68.1M

LTM EBITDA $9.8M

EV

$314M

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Electrovaya Financials

As of November 2025, Electrovaya reported last 12-month revenue of $68.1M and EBITDA of $9.8M.

In the same period, Electrovaya generated $21.2M in LTM gross profit and $4.2M in net income.

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Electrovaya P&L

In the most recent fiscal year, Electrovaya reported revenue of $63.6M and EBITDA of $5.6M.

Electrovaya expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$68.1M	XXX	$63.6M	XXX	XXX	XXX
Gross Profit	$21.2M	XXX	$19.5M	XXX	XXX	XXX
Gross Margin	31%	XXX	31%	XXX	XXX	XXX
EBITDA	$9.8M	XXX	$5.6M	XXX	XXX	XXX
EBITDA Margin	14%	XXX	9%	XXX	XXX	XXX
EBIT	$6.8M	XXX	$5.5M	XXX	XXX	XXX
EBIT Margin	10%	XXX	9%	XXX	XXX	XXX
Net Profit	$4.2M	XXX	$3.4M	XXX	XXX	XXX
Net Margin	6%	XXX	5%	XXX	XXX	XXX
Net Debt	XXX	XXX	$14.4M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Electrovaya including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $68.1M. EBITDA for the last twelve months was $9.8M. In the most recent fiscal year, Electrovaya achieved $63.6M in revenue and $5.6M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$68.1M	Analyst estimates available to subscribers	$63.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$21.2M	Analyst estimates available to subscribers	$19.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	31.1% gross margin	Analyst estimates available to subscribers	30.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$9.8M	Analyst estimates available to subscribers	$5.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	14.3% EBITDA margin	Analyst estimates available to subscribers	8.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$6.8M	Analyst estimates available to subscribers	$5.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	9.9% EBIT margin	Analyst estimates available to subscribers	8.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$4.2M	Analyst estimates available to subscribers	$3.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	6.1% net profit margin	Analyst estimates available to subscribers	5.3% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$14.4M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Electrovaya

This financial data table provides comprehensive performance metrics for Electrovaya, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Electrovaya generated $68.1M in revenue over the last twelve months.
The company achieved $9.8M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $21.2M.
Net income over the last twelve months reached $4.2M.

Fiscal Year Performance

In the most recent fiscal year, Electrovaya reported $63.6M in total revenue.
Fiscal year EBITDA was $5.6M.
The company maintained a gross profit margin of 30.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 8.8%.
Net profit margin reached 5.3% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Electrovaya. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Electrovaya Stock Performance

Electrovaya has current market cap of $298M, and EV of $314M.

Market Cap Evolution

Electrovaya Stock Data

As of December 12, 2025, Electrovaya's stock price is $7.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$314M	$298M	XXX	XXX	XXX	XXX	$0.10

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Electrovaya Valuation Multiples

Electrovaya's trades at 6.4x EV/Revenue multiple, and 87.4x EV/EBITDA.

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Electrovaya Financial Valuation Multiples

As of December 12, 2025, Electrovaya has market cap of $298M and EV of $314M.

Equity research analysts estimate Electrovaya's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Electrovaya has a P/E ratio of 71.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$298M	XXX	$298M	XXX	XXX	XXX
EV (current)	$314M	XXX	$314M	XXX	XXX	XXX
EV/Revenue	4.6x	XXX	6.4x	XXX	XXX	XXX
EV/EBITDA	32.2x	XXX	87.4x	XXX	XXX	XXX
EV/EBIT	46.5x	XXX	162.5x	XXX	XXX	XXX
EV/Gross Profit	14.8x	XXX	n/a	XXX	XXX	XXX
P/E	71.6x	XXX	-1090.4x	XXX	XXX	XXX
EV/FCF	-28.4x	XXX	-185.6x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Electrovaya Margins & Growth Rates

Electrovaya's last 12 month revenue growth is 38%

Electrovaya's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.1M for the same period.

Electrovaya's rule of 40 is 45% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Electrovaya's rule of X is 109% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Electrovaya Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	38%	XXX	39%	XXX	XXX	XXX
EBITDA Margin	14%	XXX	7%	XXX	XXX	XXX
EBITDA Growth	83%	XXX	127%	XXX	XXX	XXX
Rule of 40	45%	XXX	45%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	109%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.5M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	5%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	7%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	22%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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