Aeva Technologies, Inc. (AEVA) Stock Analysis and Metrics

Sector: Technology Industry: Software - Infrastructure CIK: 0001789029

P/B 22.43

P/E -4.77

P/S 49.17

Market Cap 745.16 Mn

ROIC (Qtr) 330.09

Div Yield % 0.00

Rev 1y % (Qtr) 59.07

Total Debt (Qtr) 4.58 Mn

Debt/Equity (Qtr) 0.14

About

Aeva Technologies, Inc., often recognized by its ticker symbol AEVA, operates in the technology industry, specifically in the development and manufacturing of 4D LiDAR-on-chip technology. This innovative company is a significant player in various sectors, including automotive, industrial automation, and consumer devices. Aeva's primary business activities revolve around the creation of advanced LiDAR technology, which provides high-performance, long-range, and fast detection capabilities. These features make their products ideal for a wide range...

Aeva Technologies, Inc., often recognized by its ticker symbol AEVA, operates in the technology industry, specifically in the development and manufacturing of 4D LiDAR-on-chip technology. This innovative company is a significant player in various sectors, including automotive, industrial automation, and consumer devices.

Aeva's primary business activities revolve around the creation of advanced LiDAR technology, which provides high-performance, long-range, and fast detection capabilities. These features make their products ideal for a wide range of applications, from autonomous vehicles to industrial automation and consumer devices. The company's operations span across multiple regions, leveraging the global reach of its technology.

The company generates revenue through the sale of its primary products, the Aeries II and the Atlas. The Aeries II is a 4D LiDAR solution designed for automotive grade production, offering long-range performance, fast detection, and high accuracy. The Atlas, on the other hand, is a high-performance FMCW 4D LiDAR, capable of simultaneous velocity and range detection. These products cater to various applications, including autonomous driving, industrial automation, and consumer devices.

Aeva's position within the industry is solid, despite the presence of key competitors in the LiDAR market. The company's innovative products and technology, based on Frequency Modulated Continuous Wave (FMCW) sensing, provide a competitive edge. This technology allows for the measurement of velocity, depth, and reflectivity of objects, offering a high level of accuracy, precision, and reliability.

Aeva's customers include automotive OEMs, industrial automation companies, and consumer device manufacturers. The company has established strategic partnerships, development agreements, and similar agreements with these customers, further solidifying its market position.

In terms of brand names and trade names, Aeva's products are known as the Aeries II and the Atlas. These names represent the company's commitment to innovation and high-performance technology, making Aeva a notable player in the LiDAR industry.

Stock Price Chart

Analysis

Pros

Strong tangible asset base of 91.75M provides 20.03x coverage of total debt 4.58M, indicating robust asset backing and low credit risk.
Tangible assets of 91.75M provide robust 5.57x coverage of other current liabilities 16.46M, indicating strong asset backing.
Cash reserves of 45.69M provide robust 2.19x coverage of current liabilities 20.87M, indicating strong short-term solvency.
Strong cash position of 45.69M provides 2.78x coverage of other current liabilities 16.46M, indicating excellent liquidity.
Cash reserves of 45.69M provide solid 1.34x coverage of other non-current liabilities 34.13M, indicating strong liquidity.

Cons

Operating cash flow of (113.83M) barely covers its investment activities of 97.31M, with a coverage ratio of -1.17, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
Investment activities of 97.31M provide weak support for R&D spending of 90.92M, which is 1.07x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
The company's operating cash flow of (113.83M) shows concerning coverage of stock compensation expenses of 23.11M, with a -4.93 ratio indicating potential earnings quality issues.
Operating cash flow of (113.83M) provides minimal -519.75x coverage of tax expenses of 219000, suggesting potential tax planning inefficiencies or unsustainable tax positions.
Free cash flow of (119.06M) provides weak coverage of capital expenditures of 5.24M, with a -22.73 ratio suggesting additional external financing needs for growth initiatives.

Peer Comparison

Companies in the Software - Infrastructure

S.No.	Ticker	Company	Market Cap	P/E	P/S	Total Debt (Qtr)
1	MSFT	Microsoft Corp	3,542.10 Bn	33.76	12.06	60.56 Bn
2	ORCL	Oracle Corp	533.93 Bn	34.61	8.75	124.39 Bn
3	PLTR	Palantir Technologies Inc.	437.56 Bn	399.47	112.31	0.24 Bn
4	PANW	Palo Alto Networks Inc	125.16 Bn	112.03	13.10	0.35 Bn
5	CRWD	CrowdStrike Holdings, Inc.	120.85 Bn	-384.67	26.47	0.82 Bn
6	SNPS	Synopsys Inc	71.69 Bn	35.89	11.14	15.14 Bn
7	NET	Cloudflare, Inc.	67.84 Bn	-658.43	33.70	3.50 Bn
8	FTNT	Fortinet, Inc.	63.33 Bn	33.80	9.66	1.00 Bn

Industry Comparisons

Current Valuation

Metric	Value	Industry
EV to Assets	7.80	2.56
EV to Cash from Ops.	-6.36	38.32
EV to Debt	157.92	-11.37
EV to EBIT	-4.64	-12.79
EV to EBITDA	-5.84	7.72
EV to Free Cash Flow [EV/FCF]	-6.08	24.22
EV to Market Cap	0.97	0.58
EV to Revenue	47.74	-35.00
Price to Book Value [P/B]	22.43	3.74
Price to Earnings [P/E]	-4.77	-18.61

Dividend Metrics

Metric	Value	Industry	Percentile
Dividend Coverage Ratio	0.00	-0.30
Dividend Payout Ratio %	0.00	2.69
Dividend per Basic Share	0.00	0.10
FCF Dividend Payout Ratio %	0.00	1.67
Interest Coverage	0.00	-13.15

Growth Metrics

Metric	Value	Industry
Capex Growth (1y) %	7.31	-404.11
Cash and Equivalents Growth (1y) %	49.98	226.02
Dividend Growth (1y) %	0.00	-0.27
EBIAT Growth (1y) %	2.99	31.15
EBITDA Growth (1y) %	18.58	49.02
EBIT Growth (1y) %	3.04	25.85
EBT Growth (1y) %	3.04	17.82
EPS Growth (1y) %	5.77	70.69
FCF Growth (1y) %	-0.05	295.45
Gross Profit Growth (1y) %	26.72	49.96

Liquidity Ratios

Metric	Value	Industry
Asset Utilization Ratio	0.16	0.68
Cash Payout Ratio	0.00	0.02
Cash Ratio	2.19	1.21
Current Ratio	3.18	2.57
Debt to Equity Ratio	0.14	-0.93
Interest Cover Ratio	0.00	-13.15
Times Interest Earned	0.00	-13.15

Profitability

Metric	Value	Industry
EBITDA Margin %	-970.80	-544.82
EBIT Margin %	-1,029.70	-197.78
EBT Margin %	-1,029.70	-602.74
Gross Margin %	-18.50	52.06
Net Profit Margin %	-1,031.10	-605.52

Aeva Technologies, Inc. (NASDAQ: AEVA)