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Stocks · Industrials · Aircraft Parts & Auxiliary Equipment, NEC

EHang Holdings Ltd

EH Clue Score57
Cayman Islands Fiscal year ends December CIK 0001759783
$3.97 -5.25% Close, 12 Oct 2026
Alert on the numbers Alert on insider trades
Price $3.97 −81.22% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 12 Dec 2019. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue31.7Operating income−125.9Net income−87.4Fiscal year 2018Revenue66.5 +109.8%Operating income−74.3Net income−79.1Fiscal year 2019Revenue121.8 +83.2%Operating income−46.3Net income−48.5Fiscal year 2020Revenue180.1 +47.8%Operating income−91.3Net income−87.6EPS, diluted−0.80Fiscal year 2021Revenue56.8 −68.5%Operating income−320.5Net income−314.0EPS, diluted−2.78Fiscal year 2022Revenue44.3 −22.0%Operating income−304.0Net income−328.2EPS, diluted−2.86Fiscal year 2023Revenue117.4 +165.0%Operating income−296.3Net income−301.7EPS, diluted−2.48Fiscal year 2024Revenue456.2 +288.5%Operating income−254.1Net income−229.8EPS, diluted−1.71Fiscal year 2025Revenue418.0 −8.4%Operating income−316.7Net income−276.0EPS, diluted−1.88
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 31.7 66.5 121.8 180.1 56.8 44.3 117.4 456.2 418.0
Growth +109.8% +83.2% +47.8% −68.5% −22.0% +165.0% +288.5% −8.4%
Operating income −125.9 −74.3 −46.3 −91.3 −320.5 −304.0 −296.3 −254.1 −316.7
Net income −87.4 −79.1 −48.5 −87.6 −314.0 −328.2 −301.7 −229.8 −276.0
Growth
EPS, diluted n/a n/a n/a −0.80 −2.78 −2.86 −2.48 −1.71 −1.88
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin13.2%Operating margin−397.3%Net margin−275.9%Free cash flow margin−158.5%Fiscal year 2018Gross margin50.8%Operating margin−111.8%Net margin−119.0%Free cash flow margin−72.1%Fiscal year 2019Gross margin58.5%Operating margin−38.0%Net margin−39.9%Free cash flow margin−47.8%Fiscal year 2020Gross margin59.0%Operating margin−50.7%Net margin−48.7%Free cash flow margin−89.1%Fiscal year 2021Gross margin63.4%Operating margin−564.3%Net margin−552.7%Free cash flow margin−241.6%Fiscal year 2022Gross margin65.9%Operating margin−685.9%Net margin−740.6%Free cash flow margin−418.9%Fiscal year 2023Gross margin64.1%Operating margin−252.3%Net margin−256.9%Free cash flow margin−82.0%Fiscal year 2024Gross margin61.4%Operating margin−55.7%Net margin−50.4%Free cash flow margin26.1%Fiscal year 2025Gross margin61.5%Operating margin−75.8%Net margin−66.0%Free cash flow margin−78.3%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 13.2% 50.8% 58.5% 59.0% 63.4% 65.9% 64.1% 61.4% 61.5%
Operating margin −397.3% −111.8% −38.0% −50.7% −564.3% −685.9% −252.3% −55.7% −75.8%
Net margin −275.9% −119.0% −39.9% −48.7% −552.7% −740.6% −256.9% −50.4% −66.0%
Free cash flow margin −158.5% −72.1% −47.8% −89.1% −241.6% −418.9% −82.0% 26.1% −78.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−38.4Capital expenditure−11.8Free cash flow−50.2Fiscal year 2018Operating cash flow−43.0Capital expenditure−4.9Free cash flow−47.9Fiscal year 2019Operating cash flow−55.5Capital expenditure−2.7Free cash flow−58.3Fiscal year 2020Operating cash flow−151.7Capital expenditure−8.7Free cash flow−160.4Fiscal year 2021Operating cash flow−121.6Capital expenditure−15.6Free cash flow−137.3Fiscal year 2022Operating cash flow−173.5Capital expenditure−12.2Free cash flow−185.6Fiscal year 2023Operating cash flow−88.4Capital expenditure−7.8Free cash flow−96.2Fiscal year 2024Operating cash flow158.0Capital expenditure−39.0Free cash flow119.0Fiscal year 2025Operating cash flow−179.5Capital expenditure−147.9Free cash flow−327.4 −375.1%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −38.4 −43.0 −55.5 −151.7 −121.6 −173.5 −88.4 158.0 −179.5
Capital expenditure −11.8 −4.9 −2.7 −8.7 −15.6 −12.2 −7.8 −39.0 −147.9
Free cash flow −50.2 −47.9 −58.3 −160.4 −137.3 −185.6 −96.2 119.0 −327.4
Growth −375.1%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash and securitiesTotal debt
Fiscal year 2017Cash and securities61.5Shareholders’ equity−489.9Fiscal year 2018Cash and securities61.5Shareholders’ equity−545.5Fiscal year 2019Cash and securities329.3Total debt32.5Net cash (debt)296.8Shareholders’ equity311.6Debt to equity0.10Fiscal year 2020Cash and securities187.1Total debt30.0Net cash (debt)157.1Shareholders’ equity276.3Debt to equity0.11Fiscal year 2021Cash and securities312.0Total debt17.0Net cash (debt)295.0Shareholders’ equity332.6Debt to equity0.05Fiscal year 2022Cash and securities249.3Total debt3.8Net cash (debt)245.5Shareholders’ equity124.3Debt to equity0.03Fiscal year 2023Cash and securities285.7Total debt9.3Net cash (debt)276.4Shareholders’ equity213.8Debt to equity0.04Fiscal year 2024Cash and securities1,124.6Total debt20.5Net cash (debt)1,104.1Shareholders’ equity955.6Debt to equity0.02Fiscal year 2025Cash and securities1,099.6Total debt82.7Net cash (debt)1,016.9Shareholders’ equity1,068.9Debt to equity0.08
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and securities 61.5 61.5 329.3 187.1 312.0 249.3 285.7 1,124.6 1,099.6
Total debt n/a n/a 32.5 30.0 17.0 3.8 9.3 20.5 82.7
Net cash (debt) n/a n/a 296.8 157.1 295.0 245.5 276.4 1,104.1 1,016.9
Shareholders’ equity −489.9 −545.5 311.6 276.3 332.6 124.3 213.8 955.6 1,068.9
Debt to equity n/a n/a 0.10 0.11 0.05 0.03 0.04 0.02 0.08

In millions of CNY, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of CNY, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
31.7 66.5 121.8 180.1 56.8 44.3 117.4 456.2 418.0
Growth +109.8% +83.2% +47.8% −68.5% −22.0% +165.0% +288.5% −8.4%
27.5 32.7 50.6 73.9 20.8 15.1 42.1 176.2 160.8
4.2 33.7 71.2 106.2 36.0 29.2 75.3 279.9 257.2
Growth +706.6% +111.0% +49.1% −66.1% −18.9% +157.7% +271.7% −8.1%
68.7 60.3 57.2 105.3 137.1 135.1 167.3 199.5 194.6
35.4 35.9 36.9 61.6 187.4 151.1 150.1 233.4 269.6
−125.9 −74.3 −46.3 −91.3 −320.5 −304.0 −296.3 −254.1 −316.7
Growth
−81.4 −80.4 −47.2 −91.8 −313.8 −329.3 302.1 229.6 −275.6
5.2 0.1 0.8 0.2 0.1 0.1 0.2 0.4 −4.4
−87.4 −79.1 −48.5 −87.6 −314.0 −328.2 −301.7 −229.8 −276.0
Growth
Per share
n/a n/a n/a −0.80 −2.78 −2.86 −2.48 −1.71 −1.88
n/a n/a n/a −0.80 −2.78 −2.86 −2.48 −1.71 −1.88
Growth
n/a n/a n/a 0.1 0.1 0.1 0.1 0.1 0.1
n/a n/a n/a 0.1 0.1 0.1 0.1 0.1 0.1
Growth +3.1% +1.5% +5.9% +10.6% +9.2%

Shown in CNY as filed; the screener converts to dollars.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 18.3% a year over five years.
  • The diluted share count rose 33.9% in five years, which is dilution.
  • Operating margin is down 25.1 points on five years ago, at -75.8%.
  • A net loss in 9 of 9 years on file.