Archer Aviation ACHR
NYSE · Aircraft · $3.2B$3.87−6.07%Nov 5 close · Databento
ACHR Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing
Nov 5, 2026CLOSE $3.871D −6.07%3M −38.18%SMA20 $4.17SMA50 $4.90RSI(14) 34.4
RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 34.4
Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.
1 story has a settled next close so far (1 on the Wire). The record starts speaking at three.
The numbers
fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via DatabentoMarket cap$3.2B
Enterprise value$2.2B
Revenue$300,000
True FCF (ex-SBC)$-735.2M −13.6%
ROIC-58.1%
True FCF Yield-23.2%
EPS, diluted$-0.99 +30.3%
Modern Valuation (EOD)
Market Cap$3.2B
Enterprise Value$2.2B
EV / True FCF—
EV / FCF—
EV / Gross Profit—
EV / EBIT—
EV / Sales7415.99
P / E (GAAP)—
P / FCF—
P / Oper. CF—
P / Book1.44
Owner & Cash Yields
True FCF Yield-23.2%
FCF Yield-16.1%
Owner Earn. Yield-28.4%
Earnings Yield-19.5%
Shareholder Yield—
Buyback Yield—
Dividend Yield—
Dividend / sh—
Payout Ratio—
FCF / sh$-0.66
EPS (diluted)$-0.99
Compounder & Returns
Rule of 40—
ROIC-58.1%
Cash ROIC (CROIC)-40.8%
GP / Assets—
ROE-28.1%
ROA-25.1%
Gross Margin—
Oper. Margin-243100.0%
Net Margin-206066.7%
FCF Margin-170566.7%
True FCF Margin-245066.7%
Quality & Dilution
Cash Conversion—
Accrual Ratio−7.5%
SBC % of FCF—
SBC % of Rev74500.0%
Reinvest. Rate—
Sales Growth Y/Y—
Sales 3Y CAGR—
EPS Growth Y/Y+30.3%
FCF Growth Y/Y−13.6%
FCF 3Y CAGR—
Share Change Y/Y+65.7%
Balance Sheet & Scale
Revenue (FY)$300,000
Gross Profit (FY)—
Oper. Income (FY)$-729.3M
GAAP Net Income$-618.2M
True FCF (ex-SBC)$-735.2M
Cash & Equiv$1.0B
Total Debt$81.1M
Net Cash (Debt)$947.7M
Net Cash % MCap+29.9%
Debt / FCF (yrs)—
Current Ratio19.89770.02M sh
Price & Technicals (EOD)
Perf Week−11.64%
Perf Month−17.13%
Perf Quarter−30.77%
Perf Half Y−38.38%
Perf YTD−36.66%
SMA 20 Dist−7.28%$4.17
SMA 50 Dist−20.99%$4.90
SMA 100 Dist−24.36%$5.12
Window High−44.48%$6.97
Window Low+1.84%$3.80
RSI (14) · Vol34.466%v
Income Distribution & Cash Flow ConversionHow every dollar of ACHR revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow
Where Every $100 of Revenue Goes (FY2025)
Cost of Revenue (COGS)$200,000 ($66.7 / $100)
R&D Reinvestment$493.9M ($100.0 / $100)
Operating Expenses$235.5M ($100.0 / $100)
Tax & Non-Operating$0 ($0.0 / $100)
Net Profit Kept$-618.2M ($0.0 / $100)
Earnings Quality: GAAP Profit → True Owner Cash (FY2025)
GAAP Net Income$-618.2M (-206066.7% margin)
Operating Cash Flow (OCF)$-432.9M(-144300.0% of rev)
Less: Capital Expenditures−$78.8M(26266.7% of rev)
Standard Free Cash Flow (FCF)$-511.7M(-170566.7% margin)
Less: Stock-Based Comp (SBC)−$223.5M
True FCF (Owner Cash ex-SBC)$-735.2M(-245066.7% of rev)
Revenue by fiscal year
| Line Item (USD) | FY2023 | FY2024 | FY2025 | YoY Δ | CAGR | Trend |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | $0 | $0 | $300,000 | — | — | |
| Cost of Revenue (COGS) | $0 | $0 | $200,000 | — | — | |
| Research & Development (R&D) | $276.4M | $357.7M | $493.9M | +38.1% | +33.7% | |
| Total Operating Expenses | $446.9M | $509.7M | — | — | +14.1% | |
| Operating Income (EBIT) | $-446.9M | $-509.7M | $-729.3M | −43.1% | — | |
| Interest Expense | — | — | $1.0M | — | — | |
| Income Tax Expense | $500,000 | $200,000 | $300,000 | +50.0% | −22.5% | |
| GAAP Net Income | $-457.9M | $-536.8M | $-618.2M | −15.2% | — | |
| Diluted EPS | $-1.69 | $-1.42 | $-0.99 | +30.3% | — | |
| Diluted Shares | 270.4M | 376.7M | 624.3M | +65.7% | +51.9% | |
| Balance Sheet | ||||||
| Cash & Equivalents | $471.5M | $841.3M | $1.0B | +22.3% | +47.7% | |
| Total Current Assets | $480.2M | $858.4M | $2.1B | +141.9% | +107.9% | |
| Total Assets | $554.3M | $1.0B | $2.5B | +146.3% | +110.9% | |
| Total Current Liabilities | $114.0M | $71.1M | $104.4M | +46.8% | −4.3% | |
| Total Debt (Short + Long Term) | $7.2M | $64.0M | $81.1M | +26.7% | +235.6% | |
| Total Liabilities | $187.2M | $248.6M | $263.1M | +5.8% | +18.6% | |
| Stockholders' Equity | $367.1M | $752.6M | $2.2B | +192.7% | +145.0% | |
| Net Cash / (Net Debt) | $464.3M | $777.3M | $947.7M | +21.9% | +42.9% | |
| Invested Capital | $-97.2M | $-24.7M | $1.3B | +5181.4% | — | |
| Cash Flow & Capital Allocation | ||||||
| Operating Cash Flow (OCF) | $-271.6M | $-368.6M | $-432.9M | −17.4% | — | |
| Depreciation & Amortization (D&A) | $6.5M | $11.7M | $20.0M | +70.9% | +75.4% | |
| Stock-Based Compensation (SBC) | $45.2M | $108.8M | $223.5M | +105.4% | +122.4% | |
| Capital Expenditures (CapEx) | $44.3M | $82.0M | $78.8M | −3.9% | +33.4% | |
| Free Cash Flow (FCF) | $-315.9M | $-450.6M | $-511.7M | −13.6% | — | |
| True FCF (ex-SBC Owner Cash) | $-361.1M | $-559.4M | $-735.2M | −31.4% | — | |
Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.
On the Wire
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