Electrovaya Inc. (ELVA) Stock Analysis
Industrials · Electrical Equipment & Parts · NasdaqCM
Electrovaya Inc. (ELVA) posted $63.58M in revenue for fiscal 2025 (up 42.6% year over year), at a 5.3% net margin, and has compounded revenue about 59.7%/yr over five years, per its SEC filings.
Data last refreshed September 3, 2026 from SEC filings · how we compute this
The analyst's take on Electrovaya Inc.
Electrovaya Inc. has grown revenue from $15.62M to $63.58M over the last 4 fiscal years, compounding about 59.7% a year. The most recent year was up 42.6%, so growth has cooled from its longer-run pace.
Net margin sits at 5.3%, up 8.6 points year over year on a 30.6% gross margin. It carries about $20.74M of total debt.
It clears 1 of 5 deterministic health checks. The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Electrovaya Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
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Electrovaya Inc. revenue & earnings — last 4 fiscal years
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $15.62M | $43.37M | $44.59M | $63.58M |
| Gross profit | $3.22M | $11.16M | $13.66M | $19.47M |
| Net income | $-9.21M | $-1.48M | $-1.49M | $3.36M |
| Net margin | -59.0% | -3.4% | -3.3% | 5.3% |
Source: Electrovaya Inc. SEC filings (10-K).
Electrovaya Inc. financial health: 1 of 5 checks passed
- ✓Revenue CAGR over 3 yrs (59.7%/yr)
- ✗Net margin above 10% (5.3%)
- ✗More cash than total debt (cash 6.4M vs debt 20.7M)
- ✗Free cash flow positive (latest yr) (-9.5M)
- ✗Share count falling over 3 yrs (buybacks) (29.4M → 42.1M shares)
Checks computed deterministically from filed annual statements — no AI judgement.
Electrovaya Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 43.0% over 3 years (29.4M → 42.1M) — existing holders' stakes are being diluted.
- Heavy debt loadTotal debt of $20.7M is 12.1× last year's operating cash flow — it would take years of cash flow to clear.
Explore 4 years of Electrovaya Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Electrovaya Inc. financial history
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About Electrovaya Inc.
Electrovaya Inc. engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It operates infinity battery systems comprising of low and high voltage systems. The company also operates solid state battery technology. In addition, it offers lithium-ion battery systems to power MHEV, including fork-lifts, as well as accessories, such as battery chargers to charge the batteries; lithium-ion batteries for robotic applications; lithium ion battery cell and modules for sales to OEM customers in the defense, construction, and other applications; high voltage battery systems for electric bus, truck, and defense applications; and industrial products for energy storage. The company was formerly known as Electrofuel Inc. and changed its name to Electrovaya Inc. in March 2002. Electrovaya Inc. was incorporated in 1996 and is headquartered in Mississauga, Canada.
Electrovaya Inc. — frequently asked questions
What is Electrovaya Inc.'s revenue?
Electrovaya Inc. (ELVA) reported revenue of $63.58M for fiscal year 2025, up 42.6% from the prior year, according to its SEC filings.
Is Electrovaya Inc. profitable?
Yes. ELVA earned net income of $3.36M in fiscal 2025, a net margin of 5.3%.
What is ELVA's P/E ratio?
Electrovaya Inc. trades at a price-to-earnings ratio of about 84.4 based on the latest data in our nightly-refreshed cache.
How fast is Electrovaya Inc. growing?
ELVA's revenue grew at roughly 59.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Electrovaya Inc. have?
As of fiscal year 2025, ELVA carried roughly $20.74M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Electrovaya Inc.'s gross margin?
ELVA's gross margin was 30.6% in fiscal 2025 — gross profit of $19.47M on revenue of $63.58M.
What is Electrovaya Inc.'s market cap?
Electrovaya Inc. (ELVA) has a market capitalization of about $459.43M, based on the latest data in our nightly-refreshed cache.
When does Electrovaya Inc.'s fiscal year end?
ELVA's fiscal year ends in September. Its most recent annual filing covers the fiscal year ending 2025-09-30.
Where does this data come from?
All figures are computed from Electrovaya Inc.'s official SEC filings (10-K and 10-Q), covering 4 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.