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Ehang Holdings Ltd (EH) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Ehang Holdings Ltd stock $1.63, price $3.97, that is 58.9% below the price, quality 26 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Industrials US · Based in China

EH Ehang Holdings Ltd logo Thin data Nov 8, 2026

Ehang Holdings Ltd

EH · US
Very expensive, weak quality

Our calculation puts a fair price 59% below what the stock costs today.

Low debt
Expensive Growth (revenue 5y +18.3 %/yr in USD)
Revenue last quarter 47% below a year ago.
Fair value $1.63 · Strongly overvalued (−58.9%)
Quality 26/100
Loss-making · -91.3% net margin (TTM)
Negative free cash flow
Trails peers (3/10)
Narrow moat 8/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$28.60 $3.39 Fair Value $1.63 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range $3.39 – $28.60 · fair‑value band $1.07 – $2.03 · the $3.97 price screens above the $1.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

EHang Holdings Limited operates as an urban air mobility (UAM) technology platform company in the People's Republic of China, East Asia, West Asia, North America, South America, West Africa, and Europe.

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It designs, develops, manufactures, sells, and operates UAVs, as well as supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions.

The company's product portfolio includes EH216 series, the VT series, the Falcon B, and the GD series. It also offers airborne operating systems, including autopilot and flight control, communication, battery management system, and safety management systems; and command-and-control system.

In addition, the company has built a digital UAM operational platform architecture and visualized flight operation module for managing the eVTOL flight schedule, ground crew, vertiports and landing pads, and other factors for the entire front-line UAM operational process.

Further, it offers vertiports for eVTOL aircraft operations and mobility efficiency; and charging piles for eVTOL aircraft.

Additionally, the company provides air mobility solutions; smart city management, which centralizes and coordinates a range of UAV applications; and aerial media solutions for drone light shows.

EHang Holdings Limited was incorporated in 2014 and is headquartered in Guangzhou, the People's Republic of China.

Stock analysis

Ehang Holdings Ltd (EH) currently trades at $3.97, while our model-based Fair Value estimate is $1.63, 59% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: $1.07 (bear) to $2.03 (bull), the price of $3.97 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 26/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Ehang Holdings Ltd reported revenue of 418M CNY in FY2025 versus 56.8M CNY in FY2021, a compound +64.7%/yr. Reported net income was −276M CNY in FY2025.

Key figures

Market cap $279M Micro · P/S ratio 0.73 · EPS (TTM) $−0.7300 · Net margin −66.1% · Return on equity −36.5% · Return on assets (EBIT) −39.6% (5-year average) · Operating margin −169% · Revenue (TTM) $382M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (low confidence).

What moves the price

The share trades about 76% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −23% fair-value upside, at −59%, EH screens richer than that median.

Fair Value models

Bear $1.07 Fair Value $1.63 Bull $2.03
Price $3.97 · Downside -58.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) $1.07 $1.63 $2.03 55
All 1 models by family
Asset-Based
NCAV (Graham) $1.07 $1.63 $2.03 55

Open the full fair value analysis →

Quality Score breakdown

Overall quality 26/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 6
How much profit the company makes from its sales and capital
Quality Growth 24
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 53
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 25
How calm the share price moves, does not count
Price momentum 4
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 72
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 32/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−8.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+111.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.3%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+38.0%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−50.7% (2020) → −76.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

EH screens overvalued: fair value 59% below the price. Compare with General Electric Company →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aerospace & Defense · 238 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 26 · Bottom 25%
Fair Value upside −58.9% · Below median
Profitability
Return on assets −13.5% · Bottom 25%
Net margin (12 months) −91.3% · Bottom 25%
Operating margin (12 months) −169.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −47.1% · Bottom 25%
Balance sheet
Debt / equity 0.07× · Below median

Valuation Multiplesvs Aerospace & Defense median · lower = cheaper

P/B 0.25× · Cheapest 25%
P/S (12 months) 0.73× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 65
PAST (return on equity)0 · sector 41
HEALTH (low debt)96 · sector 94
DIVIDEND (yield)0 · sector 19

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Safran SA SAF €295.50 €327.36 +11% vs EH
Honeywell Aerospace Inc HONA $152.92 $168.21 +10% vs EH
TransDigm Group TDG $1,197 $1,308 +9% vs EH
Lockheed Martin Corporation LMT $567.08 $439.21 −23% vs EH
General Dynamics Corporation GD $354.06 $274.19 −23% vs EH
Northrop Grumman Corporation NOC $525.01 $382.98 −27% vs EH
Airbus SE AIR €196.40 €112.14 −43% vs EH
RTX Corporation RTX $189.53 $88.19 −53% vs EH
General Electric Company GE $323.24 $92.26 −71% vs EH
Howmet Aerospace Inc HWM $205.81 $52.65 −74% vs EH

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Ehang Holdings Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Ehang Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/EH

Frequently asked questions

Is Ehang Holdings Ltd (EH) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $1.63 versus a price of $3.97, about 59% lower (overvalued).
What is the fair value of EH?
Our model-based fair value for Ehang Holdings Ltd is $1.63 (as of Nov 8, 2026), built from audited fundamentals. The current price: $3.97.
What is the quality score of EH?
Ehang Holdings Ltd has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ehang Holdings Ltd (EH)?
Our model-based price target is the fair value of $1.63 (as of Nov 8, 2026) from 1 valuation models. Cautious scenario $1.07, optimistic scenario $2.03. It is a calculation from audited fundamentals, not an analyst target.
What is the Ehang Holdings Ltd stock forecast for 2026?
Our models put fair value at $1.63, about 59% lower versus a price of $3.97 (overvalued). Cautious scenario $1.07, optimistic scenario $2.03. The calculation is refreshed regularly with new filings.
What is the revenue of Ehang Holdings Ltd (EH)?
Ehang Holdings Ltd reported trailing-twelve-month revenue of about $382M (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Ehang Holdings Ltd (EH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ehang Holdings Ltd it is $1.63 per share (as of Nov 8, 2026), against a price of $3.97. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Ehang Holdings Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, EH trades above its calculated fair value: price $3.97, fair value $1.63, a gap of about −59% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EH?
No. The price is what the market pays today ($3.97); the fair value is what the company's own numbers justify ($1.63). For Ehang Holdings Ltd the two are $2.34 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ehang Holdings Ltd worth?
The market values Ehang Holdings Ltd at about $279M (market capitalisation, as of Nov 8, 2026). Per share that is $3.97; our models calculate a fair value of $1.63 per share.
What do the bullish and bearish scenarios say about EH?
Our models span a range for Ehang Holdings Ltd: cautious scenario $1.07, base $1.63, optimistic $2.03 per share (as of Nov 8, 2026, price $3.97). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ehang Holdings Ltd (EH)?
Balance-sheet figures for Ehang Holdings Ltd (as of Nov 8, 2026): return on equity −36.5%, debt of 0.07 per unit of equity. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is EH from its 52-week high?
Ehang Holdings Ltd trades at $3.97, about 76% below its 52-week high of $16.52 and 17% above the low of $3.39 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $1.63 is for.
Which stocks are comparable to Ehang Holdings Ltd?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Safran SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ehang Holdings Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price $3.97, calculated fair value $1.63 (−59%), Quality Score 26/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EH calculated?
We run Ehang Holdings Ltd through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $1.63 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Ehang Holdings Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ehang Holdings Ltd (EH)?
The closing price on Nov 6, 2026 was $3.97. Our model-based fair value is $1.63, about 59% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ehang Holdings Ltd right now?
The price sits above even our optimistic bull case ($2.03). The favourable scenario is already priced in. Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($1.07 to $2.03) leaves room in how you read the outcome.

Key figures of Ehang Holdings Ltd

How large is the market capitalisation of Ehang Holdings Ltd (EH)?
The market capitalisation of Ehang Holdings Ltd is $279M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ehang Holdings Ltd (EH)?
The price-to-sales ratio of Ehang Holdings Ltd is 0.73 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ehang Holdings Ltd (EH)?
Earnings per share at Ehang Holdings Ltd are $−0.7300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ehang Holdings Ltd (EH)?
The net margin of Ehang Holdings Ltd is −66.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ehang Holdings Ltd (EH)?
The return on equity (ROE) of Ehang Holdings Ltd is −36.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ehang Holdings Ltd (EH)?
On an EBIT basis the return on assets of Ehang Holdings Ltd is −39.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ehang Holdings Ltd (EH)?
The operating margin of Ehang Holdings Ltd is −169% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ehang Holdings Ltd (EH)?
Revenue at Ehang Holdings Ltd is growing −47.1% versus a year earlier (3y avg +111%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Ehang Holdings Ltd (EH) generate?
The free cash flow of Ehang Holdings Ltd is −$318M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ehang Holdings Ltd (EH) carry?
The net debt of Ehang Holdings Ltd is $167M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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