Electrovaya Inc.
ELVA · Price history
Price at last available close
$5.75
−$0.60 (-9.45%) 1M
2026-10-28
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Company & revenue
About Electrovaya Inc.
Primary reporting period: 2025-09-30 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Electrovaya, Inc. is a lithium-ion battery technology and manufacturing company. engages in designing, developing, and manufacturing proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. The firm's businesses include lithium-ion batteries to power MHEVs including forklifts and Automated Guided Vehicles, as well as accessories such as battery chargers to charge the batteries; electromotive power products for electric trucks, electric buses and other transportation applications; industrial products for energy storage; and specialty applications which require complex power solutions, including competencies in building systems for third parties.
How they make money
Electrovaya designs, develops, and manufactures proprietary lithium-ion battery cells, modules, and systems. The company generates revenue primarily through the sale of these energy storage solutions to original equipment manufacturers (OEMs), dealer networks, and direct fleet customers for use in mission-critical applications such as material handling, robotics, and heavy-duty electric vehicles.
Products & services
Advanced lithium-ion battery cells, modules, and systems, including the Infinity platform, designed for high-intensity applications like forklifts, automated guided vehicles, and stationary energy storage.
Brands & revenue mix
The company's primary brand for its lithium-ion battery systems used in material handling and other mission-critical applications.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer concentration
The company has historically disclosed that a significant portion of its revenue is derived from a limited number of major customers, which creates concentration risk.
Suppliers, materials & equipment
- Lithium-ion battery cell and component suppliers — The company relies on various third-party suppliers for raw materials and components used in its battery manufacturing processes; specific supplier names are unnamed.Source
Business relationships & partnerships
- SCPM — A commercial partnership to market Electrovaya’s battery solutions to OEMs in Japan and other international markets.Source
Strengths
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly EPS fell 72.0% versus the same quarter last year.
Review net income and weighted-average shares together. Per-share earnings can change because of operating performance, nonrecurring items or the share denominator.
Diluted weighted-average shares increased 15.8% year over year.
Compare per-share results with total earnings and inspect the equity footnote. A change in weighted-average shares does not by itself establish the cause, the number of shares issued today, or the economic effect of a split.
Total debt increased 97.2% versus the same quarter last year.
Compare the added borrowing with available cash, cash generation and maturities. A percentage increase from a small starting balance can look large without measuring the full debt burden.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
37
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
60
Fair
Financial Strength
49
Business Quality / Moat
77
Management
74
Growth Quality
66
Risk / Durability
16
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
27
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
41/100
Building Historical Record
Model Score 41/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
No strong positive signal is being highlighted from the currently available summary data.
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
Company-specific research
Questions worth answering for ELVA
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can ELVA maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •How long can ELVA fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Is ELVA's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify ELVA's current valuation?
- •What does the current fundamental change risk warning mean for the reliability or interpretation of ELVA's score?
Essential Investment Snapshot
Wall Street Score
37
Opportunity Score
27
Market Cap
$287.5M
P/E Ratio
66.0
EPS
$0.10
52-Week High
$12.78
52-Week Low
$4.10
Beta
0.61
Intrinsic Value
$3.80
Analyst Target
$17.50
Shares Outstanding
41.4M
Total Revenue
$70.9M
Total Debt
$41.1M
Dividend
No current dividend
Liquidation Value / Share
$1.62
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Weakening momentum
Elevated movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Community Sentiment
0 active · 0 total callsNo personal call yet on ELVA.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Proprietary lithium-ion battery technology with high safety and longevity.
- +UL2580 certification across core product lines.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Electrical Equipment & Parts industry.
- −Customer concentration risk.
- −Dependence on third-party suppliers for raw materials and components.
- −Diluted weighted-average shares increased 15.8% year over year.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
6 historical score records availablePrevious Score
36
Sep 21, 2026
Change
+0.1
points
Current Score
37
Oct 1, 2026
Category Changes
ELVA increased 0.1 points because overall fundamentals improved.
Projected Score
Projected Score
33
Projected Change
-3.2 points
Preliminary comparable-period financial changes suggest decline of approximately 3.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$5.75
Model Intrinsic Value
$3.80
Difference
+$1.95
+51.2% vs IV
Margin of Safety
-51.2%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $70.9M | $63.6M | $44.6M | $43.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $48.6M | $44.1M | $30.9M | $32.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $22.3M | $19.5M | $13.7M | $11.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $3.4M | $4.4M | $3.0M | $3.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $11.7M | $8.4M | $9.0M | $6.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $15.5M | $13.9M | $12.9M | $10.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $7.1M | $5.4M | $2.9M | $1.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $6.7M | $5.5M | $729K | $1.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $2.2M | $2.6M | $3.2M | $2.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $2.2M | $1.3M | -$1.5M | -$2.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | -$2.2M | -$2.1M | $0.00 | -$679K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $4.4M | $3.4M | -$1.5M | -$1.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $0.10 | $0.09 | $-0.04 | $-0.04 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 49.74M | 39.08M | 34.01M | 33.83M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 52.50M | 41.37M | 34.01M | 33.83M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$17.3M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.01
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+97.2%
Cash Change
+914.3%
Margin Change
-3.6 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Cash position grew
What Weakened
- Margins contracted
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, cash levels. Pressure indicators included EPS growth, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 0.8%. EPS declined 72.0%. Cash increased 914.3%. Total debt increased 97.2%. Net income margin declined by 3.6 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
6 historical recordsHistorical Score Chart
3 of 6 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Electrical Equipment & PartsNews
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Electrovaya Targets Data Centers, Defense as Jamestown Battery Plant Nears 2027 Launch
Electrovaya Commences Factory Acceptance Testing of Cell Manufacturing Line for Jamestown Cell Manufacturing Facility
Rumor Mill · ELVA
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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