Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Joby Aviation, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
0
1.03
0.14
53.4
Research and development
109
198
296
367
477
581
Selling, general and administrative
23.5
61.5
95.9
106
120
163
Operating expenses
132
259
392
473
597
773
Operating income
-132
-259
-392
-472
-597
-720
Interest expense
0.25
2.43
0.12
Interest income
5.65
1.15
16.8
45.6
42.8
43.2
Other non-operating income
18.1
68.2
134
-40.8
-11.2
-209
Pre-tax income
-114
-191
-258
-513
-608
-929
Income tax
0.03
-10.5
0.09
0.14
0.13
1.31
Net income
-114
-180
-258
-513
-608
-930
EBITDA
-125
-243
-368
-442
-561
-679
EPS, basic
-1.10
-0.61
-0.44
-0.79
-0.87
-1.13
EPS, diluted
-1.10
-0.61
-0.44
-0.79
-0.87
-1.13
Shares, basic (weighted)
104
295
586
648
700
826
Shares, diluted (weighted)
104
295
586
648
700
826
Dividend per share
0.00
0.00
0.00
0.00
0.00
0.00
Balance sheet
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
77.3
956
146
204
200
241
Short-term investments
369
343
911
828
733
1,167
Other current assets
3.03
17.4
20.2
18.8
20.7
30.5
Total current assets
451
1,319
1,084
1,056
970
1,446
Property, plant and equipment
34.1
53.2
92.1
103
121
147
Lease right-of-use assets
0
25.1
28.3
28.7
31.8
Goodwill
0
10.8
14
14
14.3
89.4
Intangible assets
0
14.5
12.6
6.59
8.13
18.9
Other non-current assets
0.26
70.3
64.2
60.6
61
61.9
Total assets
497
1,488
1,293
1,269
1,203
1,795
Accounts payable
4.93
3.64
7.71
3.01
4.26
3.6
Accrued liabilities
0.36
Deferred revenue
0
2.53
5.16
7
Total current liabilities
8.01
13.8
30.2
45.1
48.1
60
Long-term debt
0
Lease liabilities
0
23.6
26.3
26.2
26.2
Other non-current liabilities
2.29
1.59
4.68
3.96
37.6
Total liabilities
12.1
172
128
235
291
385
Total debt
0
Paid-in capital
12.6
1,793
1,908
2,282
2,769
4,194
Retained earnings
-296
-477
-735
-1,248
-1,856
-2,786
Other comprehensive income
0.53
-0.12
-8.85
-0.48
-0.58
1.52
Shareholders' equity
-283
1,317
1,165
1,034
912
1,410
Total equity
-283
1,317
1,165
1,034
912
1,410
Total liabilities and equity
497
1,488
1,293
1,269
1,203
1,795
Shares outstanding
122
604
623
698
784
915
Cash flow statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-114
-180
-258
-513
-608
-930
Depreciation and amortization
7.4
15.9
24
30.5
35.6
40.2
Stock-based compensation
7.19
26.9
69.1
93.6
104
128
Deferred income tax
0
-10.5
0
0
0
0
Change in payables
8.38
6.44
10.9
6.44
6.12
-6.9
Cash from operations
-106
-196
-236
-314
-436
-510
Capital expenditures
-23.7
-32.3
-54.9
-30.6
-40.6
-53.9
Acquisitions
0
-6.85
-5.71
0
0
3.45
Purchases of investments
-621
-402
-1,359
-810
-604
-1,170
Sales and maturities of investments
223
370
789
921
715
745
Cash from investing
-393
-18.7
-631
80.3
70.8
-475
Stock issued
0.37
0
0
6.92
Cash from financing
69.2
1,093
60.5
288
361
1,027
Net change in cash
-430
878
-806
54.7
-4.39
41.3
Free cash flow
-130
-228
-291
-344
-477
-564
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $6.32 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-759.2%
Operating income / revenue.
EBITDA margin
-724.6%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-753.8%
Pre-tax income / revenue.
Net margin
-755.1%
Net income / revenue.
FCF margin
-639.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-524.5%
Cash from operations / revenue.
Return on equity (ROE)
-49.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-31.9%
Net income / average total assets.
Return on invested capital (ROIC)
-37.9%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
586.9%
Research and development expense / revenue.
SG&A / revenue
206.6%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
146.5%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
114.7%
Capital expenditures / revenue.
D&A / revenue
34.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
39,183.0%
Revenue vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
54.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
6.6%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
49.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
11.6%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
29.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
18.1%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
12.2%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
51.4%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
18.0x
Current assets / current liabilities.
Quick ratio
17.6x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
17.6x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.40x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
25.5%
Total debt / total assets.
Liabilities / assets
35.8%
Total liabilities / total assets.
Net debt
-$1.56B
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.12
Revenue / diluted weighted shares.
FCF per share
-$0.77
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.63
Cash from operations / diluted weighted shares.
Book value per share
$1.79
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
53.8x
Market cap / revenue.
P/B
3.54x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
3.77x
Market cap / tangible book value, when positive.
EV/Sales
40.3x
Enterprise value / revenue.
FCF yield
-11.9%
Free cash flow / market cap.
Earnings yield
-14.0%
Net income / market cap (the inverse of P/E).
What was Joby Aviation, Inc.'s revenue in fiscal 2025?
Joby Aviation, Inc. reported revenue of $53.4M for fiscal 2025, 39,183.1% higher than the year before.
Was Joby Aviation, Inc. profitable in fiscal 2025?
No. It reported a net loss of $929.8M.
How much free cash flow did Joby Aviation, Inc. generate in fiscal 2025?
Cash from operations of $509.9M minus capital expenditures of $53.9M left free cash flow of -$563.8M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.