Joby Aviation, Inc.

NYSE:JOBY Stock Report

Market Cap: US$10.2b

Joby Aviation Valuation

Is JOBY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of JOBY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: Insufficient data to calculate JOBY's future cash flow value for valuation analysis.

Significantly Below Future Cash Flow Value: Insufficient data to calculate JOBY's future cash flow value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for JOBY?

Key metric: As JOBY barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for JOBY. This is calculated by dividing JOBY's market cap by their current book value.
What is JOBY's PB Ratio?
PB Ratio11.4x
BookUS$896.45m
Market CapUS$10.20b

Price to Book Ratio vs Peers

How does JOBY's PB Ratio compare to its peers?

The above table shows the PB ratio for JOBY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average2.1x
ALK Alaska Air Group
1.5x75.06%US$5.9b
CPA Copa Holdings
2.2x8.73%US$5.6b
SKYW SkyWest
1.5x7.67%US$3.9b
LUV Southwest Airlines
3.2x24.86%US$24.6b
JOBY Joby Aviation
11.4x21.43%US$10.2b

Price-To-Book vs Peers: JOBY is expensive based on its Price-To-Book Ratio (11.4x) compared to the peer average (2.3x).

Historical Price to Book Ratio

Historical Price to Book Ratio compares a stock's price to the book value of it's equity over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Book Ratio vs Industry

How does JOBY's PB Ratio compare vs other companies in the US Airlines Industry?

2 CompaniesPrice / BookEstimated GrowthMarket Cap
FLYY.Q Spirit Aviation Holdings
0.05xn/aUS$8.11m
KLMR KLM Royal Dutch Airlines
0.00003xn/aUS$37.45k
No more companies available in this PB range
JOBY 11.4xIndustry Avg. 1.6xNo. of Companies2PB00.61.21.82.43+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: JOBY is expensive based on its Price-To-Book Ratio (11.4x) compared to the North American Airlines industry average (1.6x).

Price to Book Ratio vs Fair Ratio

What is JOBY's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

JOBY PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio11.4x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate JOBY's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst JOBY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$10.56
US$12.82
+21.41%
42.78%US$22.00US$6.00n/a8
Jan ’27US$13.20
US$12.14
-8.01%
45.63%US$22.00US$6.00n/a7
Dec ’26US$13.47
US$12.14
-9.85%
45.63%US$22.00US$6.00n/a7
Nov ’26US$17.34
US$12.33
-28.87%
49.25%US$22.00US$6.00n/a6
Oct ’26US$16.22
US$10.83
-33.21%
58.24%US$22.00US$6.00n/a6
Sep ’26US$14.15
US$10.83
-23.44%
58.24%US$22.00US$6.00n/a6
Aug ’26US$17.16
US$8.75
-49.01%
29.00%US$13.00US$6.00n/a8
Jul ’26US$9.81
US$8.25
-15.90%
37.24%US$13.00US$4.00n/a8
Jun ’26US$7.82
US$7.75
-0.90%
32.74%US$12.00US$4.00n/a8
May ’26US$6.31
US$7.69
+21.83%
31.69%US$11.50US$4.00n/a8
Apr ’26US$5.93
US$8.06
+35.96%
31.38%US$11.50US$4.00n/a8
Mar ’26US$7.00
US$8.06
+15.18%
31.38%US$11.50US$4.00n/a8
Feb ’26US$8.26
US$8.06
-2.39%
32.59%US$11.50US$3.00US$10.578
Jan ’26US$8.13
US$7.47
-8.13%
31.69%US$10.00US$3.00US$13.208
Dec ’25US$8.95
US$7.47
-16.55%
31.69%US$10.00US$3.00US$13.478
Nov ’25US$4.87
US$7.68
+57.67%
31.26%US$10.00US$4.00US$17.347
Oct ’25US$4.80
US$7.93
+65.18%
29.85%US$10.50US$4.00US$16.227
Sep ’25US$5.00
US$7.75
+55.00%
32.42%US$10.50US$4.00US$14.156
Aug ’25US$5.43
US$7.83
+44.26%
33.30%US$11.00US$4.00US$17.166
Jul ’25US$4.87
US$7.67
+57.43%
35.85%US$11.00US$4.00US$9.816
Jun ’25US$4.87
US$7.67
+57.43%
35.85%US$11.00US$4.00US$7.826
May ’25US$5.22
US$7.67
+46.87%
35.85%US$11.00US$4.00US$6.316
Apr ’25US$5.14
US$7.67
+49.16%
35.85%US$11.00US$4.00US$5.936
Mar ’25US$5.47
US$7.67
+40.16%
35.85%US$11.00US$4.00US$7.006
Feb ’25US$5.68
US$7.83
+37.91%
32.48%US$11.00US$5.00US$8.266
US$12.82
Fair Value
17.6% undervalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/02 06:40
End of Day Share Price 2026/02/02 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Joby Aviation, Inc. is covered by 11 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David ZazulaBarclays
Austin MoellerCanaccord Genuity
Andres Sheppard-SlingerCantor Fitzgerald & Co.