Ehang Holdings vs Spire Global
Spire Global is the larger business, with $71.6m of revenue in fiscal 2025 against $58.2m for Ehang Holdings (1.2 times as much). Ehang Holdings grew faster (-8.3% against -35.2%). Spire Global kept more of each dollar of sales as profit: a net margin of 71.7% against -66.0%. Spire Global carries less debt relative to equity (0.0% against 8.7%).
| Latest fiscal year | Ehang HoldingsEH, 2025 | Spire GlobalSPIR, 2025 |
|---|---|---|
| Revenue | $58.2m | $71.6m |
| Revenue growth | -8.3% | -35.2% |
| Net income | −$38.4m | $51.3m |
| Operating margin | -75.8% | -134.1% |
| Net margin | -66.0% | 71.7% |
| Return on equity | -27.1% | 101.4% |
| Free cash flow | −$45.6m | −$92.6m |
| Cash | $36.7m | $24.8m |
| Total debt | $13.2m | $0 |
| Debt to equity | 8.7% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | 377 |
| Market value | $276m | $327m |
| Price vs our value range | — | — |
| Moat score | — | 20 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 29 sales |