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EHang vs Elbit Systems: revenue, profit, margins and growth compared

EHang brought in $59.8M of revenue in fiscal 2025, Elbit Systems $7.9B in fiscal 2025. Revenue changed by -4.4% at EHang and +16.3% at Elbit Systems on the year before, so Elbit Systems grew faster. EHang kept -66.0% of its revenue as net profit, Elbit Systems 6.7%. Free cash flow was -$46.8M at EHang and $552.8M at Elbit Systems.

Side by side, latest fiscal year

EHESLT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$59.8M$7.9B
Revenue growth-4.4%+16.3%
Net income-$39.5M$534.3M
Net margin-66.0%6.7%
Free cash flow-$46.8M$552.8M
Free cash flow margin-78.3%7.0%
Earnings per share (diluted)-$0.27$11.39
Cash$36.7M$635.1M
Debt$13.2M$101.5M
Price to earningsn/an/a
Market value$324.7M$34.2B
Dividend yieldn/an/a
Rank by revenue in sector#398 of 451 · Industrials#81 of 451 · Industrials

Over the years

Revenue
EH FY2019: $17.5MEH FY2020: $27.6MEH FY2021: $8.9MEH FY2022: $6.4MEH FY2023: $16.5MEH FY2024: $62.5MEH FY2025: $59.8MESLT FY2018: $3.7BESLT FY2019: $4.5BESLT FY2020: $4.7BESLT FY2021: $5.3BESLT FY2022: $5.5BESLT FY2023: $6BESLT FY2024: $6.8BESLT FY2025: $7.9BFY18FY19FY20FY21FY22FY23FY24FY25
EH $59.8MESLT $7.9B
Net income
EH FY2019: -$7MEH FY2020: -$13.4MEH FY2021: -$49.3MEH FY2022: -$47.6MEH FY2023: -$42.5MEH FY2024: -$31.5MEH FY2025: -$39.5MESLT FY2018: $206.7MESLT FY2019: $227.9MESLT FY2020: $237.7MESLT FY2021: $274.4MESLT FY2022: $275.4MESLT FY2023: $215.1MESLT FY2024: $321.1MESLT FY2025: $534.3MFY18FY19FY20FY21FY22FY23FY24FY25
EH -$39.5MESLT $534.3M
Net margin
EH FY2019: -39.9%EH FY2020: -48.7%EH FY2021: -552.7%EH FY2022: -740.7%EH FY2023: -256.9%EH FY2024: -50.4%EH FY2025: -66.0%ESLT FY2018: 5.6%ESLT FY2019: 5.1%ESLT FY2020: 5.1%ESLT FY2021: 5.2%ESLT FY2022: 5.0%ESLT FY2023: 3.6%ESLT FY2024: 4.7%ESLT FY2025: 6.7%FY18FY19FY20FY21FY22FY23FY24FY25
EH -66.0%ESLT 6.7%
Revenue growth
EH FY2020: +57.7%EH FY2021: -67.7%EH FY2022: -27.9%EH FY2023: +157.4%EH FY2024: +277.9%EH FY2025: -4.4%ESLT FY2019: +22.4%ESLT FY2020: +3.4%ESLT FY2021: +13.2%ESLT FY2022: +4.4%ESLT FY2023: +8.4%ESLT FY2024: +14.3%ESLT FY2025: +16.3%FY19FY20FY21FY22FY23FY24FY25
EH -4.4%ESLT +16.3%
Free cash flow
EH FY2019: -$8.4MEH FY2020: -$24.6MEH FY2021: -$21.5MEH FY2022: -$26.9MEH FY2023: -$13.6MEH FY2024: $16.3MEH FY2025: -$46.8MESLT FY2018: $89.4MESLT FY2019: -$190.9MESLT FY2020: $146.6MESLT FY2021: $228.3MESLT FY2022: $35MESLT FY2023: -$73.3MESLT FY2024: $319.6MESLT FY2025: $552.8MFY18FY19FY20FY21FY22FY23FY24FY25
EH -$46.8MESLT $552.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about EHang and Elbit Systems

Which is bigger by revenue, EHang or Elbit Systems?

Elbit Systems is bigger by revenue: $7.9B in fiscal 2025, against $59.8M for EHang in fiscal 2025.

Which keeps more of its revenue as profit, EHang or Elbit Systems?

EHang had a net margin of -66.0% in fiscal 2025; Elbit Systems had 6.7% in fiscal 2025.

Which grew revenue faster, EHang or Elbit Systems?

In their latest fiscal years revenue changed by -4.4% at EHang and +16.3% at Elbit Systems.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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