# Electrovaya Inc. (ELVA.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Industrials / Electrical Equipment. Price C$7.36, market value C$368 million.

## Valuation
- **P/E (trailing): 52.6×** (5-yr avg 102.5×, 3-yr avg 102.5×). Electrovaya Inc. trades at 52.6× trailing earnings, well below its own five-year average of 102.5×: cheap by its own standards. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 19.1×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.06**. A PEG of 0.06 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 5.1×**. Each dollar of revenue is priced at 5.1×.
- **Price / book: 3.9×**. The shares trade at 3.9× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 60.5×**. Enterprise value is 60.5× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: -10.0%** (5-yr avg -3.3%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 1.9%**. The inverse of the P/E: 1.9% of the price is earned each year.

## Profitability
- **Gross margin: 32.8%**. Electrovaya Inc. keeps 32.8% of revenue after the direct cost of what it sells.
- **Operating margin: 9.4%**. 9.4% of revenue is left after running the business.
- **Net margin: 5.3%**. 5.3% of each dollar of sales reaches the bottom line.
- **Return on equity: 10.8%**. 10.8% on shareholders' equity is solid.
- **Return on invested capital: 11.2%**. Return on all capital, debt included, is 11.2%.
- **Return on assets: 6.9%**. Each dollar of assets produces 6.9% of profit.

## Growth
- **Revenue growth (1 yr): 42.6%** (3-yr 59.7%/yr). Revenue grew 42.6% over the last year.
- **EPS growth (1 yr): 300.0%**. Earnings per share rose 300.0%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.72**. Debt is 0.72 times equity, moderate leverage.
- **Net debt / EBITDA: 2.6×**. It would take 2.6 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 3.0×**. Operating profit covers interest 3.0× over, a safe margin.
- **Current ratio: 4.16** (quick 2.93). Current assets cover the next year's liabilities 4.16 times.
- **Altman Z-score: 9.25**. A Z-score of 9.25 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Electrovaya Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -18.7%** (YTD -32.5%, 3-mo -36.6%). The shares are down 18.7% over twelve months including dividends.
- **From 52-week high: -58.2%** (26.9% above the low). Trading 58% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 40**. An RSI of 40 is neutral.
- **Beta (1 yr): 2.37** (volatility 97%). Beta of 2.37 against the S&P/TSX Composite: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ELVA.TO · Page: https://foliofundamentals.com/stocks/elva.to

Not investment advice.