Archer Aviation Inc. (ACHR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-67.2%

$1.40

vs $4.28 price

Levered DCF

$1.44

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

4.43

Safe zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-7.6×	-6.87×	-3.63×	-1.42×	-4.14×	-47.9×	-527.51×
P/B	2.13×	4.88×	4.52×	0.91×	2.05×	32.66×	100.28×
P/S	15,649.31×	0×	0×	0×	0×	0×	0×
EV / EBITDA	-6.35×	-5.56×	-2.7×	-1.29×	-2.97×	-46.68×	553.7×
Gross margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	-243100.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	-206066.7%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	19.89×	12.07×	4.21×	10.23×	26.67×	9.84×	66.42×
Debt / equity	0.06×	0.1×	0.06×	0.05×	0.03×	0.09×	1×
Interest coverage	0×	0×	-27.12×	-146.35×	-358.3×	-123×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-28.1%	-71.3%	-124.7%	-64.3%	-49.8%	-69.1%	-19.0%
Return on invested capital	-30.8%	-54.6%	-100.4%	-63.1%	-47.6%	-62.4%	-8.9%
Return on assets	-25.1%	-53.6%	-82.6%	-55.3%	-45.3%	-59.3%	-9.3%
Free cash flow yield	-10.9%	-12.3%	-19.0%	-46.1%	-7.8%	-2.1%	-0.2%
Earnings yield	-13.2%	-14.6%	-27.6%	-70.6%	-24.2%	-2.1%	-0.2%
Enterprise value	$3.8B	$2.9B	$1.2B	$402.5M	$712.1M	$1.1B	$493.3M
Net debt / EBITDA	1.5×	1.44×	0.98×	0.15×	3.02×	1.37×	-5.78×
Cash conversion cycle (days)	-36,743	0	-900	-171	0	-7,442	0