Vertical Aerospace Ltd. is a US-listed company in the aerospace & defense industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Fair value per share
Under review: every model's value for Vertical Aerospace Ltd. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.
Price vs value
Under review: data-quality checks not passed. We'll show the comparison once resolved.
Vertical Aerospace Ltd. valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
- Funds46 adding, 38 cuttingOf 19 active managers that changed their stake, 10 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Current signal Revenue growth accelerating: TTM revenue growth rose to 62.8% (+37.9pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Fast growth. Revenue grew 62.8% over the last 12 months.
- Growth speeding up. The growth rate is 37.9 points higher than a quarter earlier.
- Net cash. Cash exceeds long-term debt by $0.1bn.
Things to watch
- Loss-making. Operating margin is -210029.5%: costs exceed revenue.
- Margins narrowing. Operating margin is down 196793.9 points on a year ago.
- Burning cash. Free cash flow was -21469.7% of revenue over the last 12 months.
- Heavy stock-based pay. Stock pay equals 76975.8% of revenue: a real cost that cash-flow figures leave out.
- Share dilution. Diluted shares rose 526.0% in a year.
- Weak cash conversion. Free cash flow was -36% of net income over the last 12 months.
Latest results
- Earnings per share
- -$0.32 against an average estimate of -$0.39: beat by 17.4%
- Next report
- November 3, 2026
Price chart
- 1 day-5.5%
- 1 week+1.8%
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Third-party market data · may be delayed
At a glance
Profitability
- EPS (TTM, diluted)
- $2.42
Growth
- Share count change
- +526.0%
Cash
- Free cash flow (TTM)
- -$110M
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for EVTL from the sources we follow. See filings →
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
Valuation models
We value Vertical Aerospace Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 10.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.16 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | ~$65 ~$53–$86 | Left out: out of range vs price (162.70x) |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Vertical Aerospace Ltd. with Aerospace & Defense in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
Forecasts and guidance
Next results: November 3, 2026, before the open.
Analysts' consensus
No analyst estimates are published for Vertical Aerospace Ltd.: too few analysts cover it.
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$0.39 | −$0.32 | +17.4% |
| Mar 2026 | −$0.43 | $0.60 | +240.2% |
| Dec 2025 | −$0.34 | −$0.60 | −76.5% |
| Sept 2025 | −$0.27 | $0.24 | +188.1% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 13.6% of tradable shares
- Days to cover
- 2.49 at average volume
- Short interest, 1 month
- −9% to October 15, 2026
- Held by institutions
- 64% of shares
- Held by insiders
- 3.0% of shares
- Employees
- 434 full time
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Fundamentals
Financial statements
| Fiscal year | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 |
|---|---|---|---|
| Income | |||
| Revenue | 0 | 0 | 0 |
| Gross profit | 0 | 0 | 0 |
| EBITDA | −9 | −14 | −381 |
| Operating income | −10 | −15 | −382 |
| Net income | −10 | −16 | −338 |
| Diluted EPS | −$0.89 | −$1.54 | −$27.25 |
| Growth (year on year) | |||
| Revenue | — | +24.9% | +62.8% |
| Margins | |||
| Gross margin | 5.7% | 49.4% | 51.5% |
| EBITDA margin | <−999% | <−999% | <−999% |
| Operating margin | <−999% | <−999% | <−999% |
| Net margin | <−999% | <−999% | <−999% |
| Free-cash-flow margin | <−999% | <−999% | <−999% |
| Cash flow | |||
| Cash from operations | −9 | −15 | −38 |
| Capital spending | 2 | 0 | 1 |
| Free cash flow | −11 | −16 | −39 |
| Stock-based pay | — | 0 | 140 |
| Free cash flow after stock pay | — | −16 | −179 |
| Balance sheet | |||
| Cash | 1 | 1 | 287 |
| Total debt | 0 | 0 | 0 |
| Net debt (negative = net cash) | −1 | −1 | −287 |
| Diluted shares | 10m | 10m | 12m |
Financial health
- Short-term assets cover short-term liabilities $134m of assets due within a year against $300m of liabilities due within a year.
- Short-term assets cover long-term liabilities $134m short-term assets against $5m of longer-dated liabilities.
- More cash than debt Cash or debt not separately reported. Not assessable.
- Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
- Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
- A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
- Operating profit covers interest at least five times over Operating income of −$168m against $253,284 of interest.
Dividends, buybacks and capital spending
- Diluted share count
- +526.0%
- year over year
Competitors: side by side with peers
| Last 12 months unless stated | EVTL | FRSX | SPCE | PRZO | VJET | MOB | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $181682 | $398000 | $1m | $1m | $2m | $3m | $727m |
| Revenue growth, last 12 months | 62.8% | −8.7% | −38.9% | 12.3% | 219.2% | 5.8% | 15.6% |
| Revenue growth, 3-year average | — | — | −35.7% | — | 119.5% | — | 12.6% |
| Revenue growth, latest quarter | — | — | −67.0% | — | 380.7% | — | 15.8% |
| Gross margin | 51.5% | 64.8% | <−999% | 4.8% | 47.7% | 53.2% | 28.2% |
| Operating margin | <−999% | <−999% | <−999% | −721.1% | <−999% | — | 8.5% |
| Operating margin, 3-year average | — | — | <−999% | — | <−999% | — | 6.0% |
| Net margin | <−999% | <−999% | <−999% | −517.1% | −679.1% | −705.4% | 5.5% |
| Cash from operations / revenue | <−999% | <−999% | <−999% | −554.5% | −488.4% | −56.6% | 5.1% |
| Free-cash-flow margin | <−999% | <−999% | <−999% | −557.2% | −489.5% | −57.7% | 3.3% |
| Free-cash-flow margin, 3-year average | — | — | <−999% | — | <−999% | — | 3.0% |
| Stock pay / revenue | >999% | 237.9% | >999% | 117.8% | 25.0% | 174.3% | 1.5% |
| Change in share count | 526.0% | 51.1% | 125.3% | 57.0% | — | 45.7% | 4.5% |
Who owns it
Funds buying and selling- Reported value
- $171M
- Institutions reporting
- 81
- Shares held vs prior quarter
- ▲ 2.1%
- Positions opened / closed
- 24 / 20
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Mudrick Capital Management, L.P. | $90.8M | 52.2M | 53.2% | ▼ 4.6% |
| Saba Capital Management, L.P. | $18.3M | 10.5M | 10.7% | ▼ 9.7% |
| Ilex Capital Partners (UK) LLP | $10.4M | 6.0M | 6.1% | ▲ 158.4% |
| Frontier Capital Management Co LLC | $9.4M | 5.4M | 5.5% | ▲ 95.0% |
| Millennium Management LLC | $8.1M | 4.7M | 4.8% | ▲ 97.4% |
| Masters Capital Management LLC | $7.1M | 4.1M | 4.2% | ▲ 20.6% |
| Marshall Wace, LLP | $4.2M | 2.4M | 2.4% | ▲ 71.4% |
| Inherent Management Corp. | $3.8M | 2.2M | 2.2% | 0.0% |
| Adage Capital Partners Gp, L.L.C. | $2.6M | 1.5M | 1.5% | 0.0% |
| Morgan Stanley | $2.5M | 1.4M | 1.5% | ▲ 57.5% |
| UBS Group AG | $2.4M | 1.4M | 1.4% | ▲ 55.8% |
| Point72 Asset Management, L.P. | $1.6M | 894K | 0.9% | ▲ 100.8% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Vertical Aerospace Ltd.'s complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chart| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Saba Capital Management, L.P. 10% owner | April 15, 2026 | Sell | 676,518 | $2.69 | $1.8M |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Vertical Aerospace Ltd. in brief
- What does Vertical Aerospace Ltd. do?
- Vertical Aerospace Ltd. is a US-listed company in the aerospace & defense industry. Its financial year ends in December.
- What is Vertical Aerospace Ltd.'s stock ticker?
- Vertical Aerospace Ltd. trades under the ticker EVTL on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
- Who are Vertical Aerospace Ltd.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Mudrick Capital Management, L.P., Saba Capital Management, L.P. and Ilex Capital Partners (UK) LLP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Who are Vertical Aerospace Ltd.'s competitors?
- In our Aerospace & Defense peer group, the companies closest to Vertical Aerospace Ltd. are Foresight Autonomous Holdings Ltd., Virgin Galactic Holdings, Inc, Parazero Technologies Ltd., Flyte Aviation, Inc. and Mobilicom Ltd. The side-by-side comparison below sets their revenue, margins and growth against Vertical Aerospace Ltd.'s.
- Are insiders buying or selling Vertical Aerospace Ltd. stock?
- Over the last 12 months, Vertical Aerospace Ltd.'s directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
- When is Vertical Aerospace Ltd.'s next earnings date?
- Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Vertical Aerospace Ltd. announces its own schedule.
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