Joby Aviation, Inc.

JOBYNYSEIndustrials● Active

$9.69

+$0.14(+1.47%)

Market Cap$9.5B

P/E Ratio—

52W High$20.95

52W Low$7.492

Avg Volume27.0M

Open$9.80

Beta2.67

Free Cash Flow Financials Revenue

Joby Aviation, Inc. (JOBY) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

JOBY · free cash flow · updated Jun 8, 2026

Core FCF metrics

JOBY · FCF · TTM · margin & CAGR

Free cash flow was −$563.8M for FY2025 (fiscal year ending 2025-12-31), down 18.2% year-over-year

FY2025 Free Cash Flow−$563.8M▼ -18.2% YoY

Trailing 12M (TTM)−$661.2Mtrailing 4 quarters sum

FCF Margin< −999%−$563.8M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

JOBY · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$509.9M(54M)−$563.8M▼ 18.2%—

FY2024−$436.3M(41M)−$476.9M▼ 38.5%—

FY2023−$313.8M(31M)−$344.4M▼ 18.4%—

FY2022−$235.9M(55M)−$290.8M▼ 27.5%—

FY2021−$195.7M(32M)−$228.1M▼ 76.5%—

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

JOBY · P/FCF · FCF yield · FCF per share

Joby Aviation, Inc. (JOBY) reported negative free cash flow of −$0.56B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

JOBY · cash flow statement · operating / investing / financing

For FY2025, Joby Aviation, Inc. generated −$509.9M in operating cash flow and spent 54M in capital expenditures, yielding −$563.8M in free cash flow.

Operating Activities

−$509.9M

Cash from core business operations

2025-12-31

Investing Activities

−$475.4M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$1.03B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$509.9M) − |CapEx| (54M) = FCF (−$563.8M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

JOBY vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Joby Aviation, Inc.YOU

JOBY

−$563.8M-18.2%-1055.3%

Loss

Space Exploration Technologies Corp.

SPCX

−$13.95B-159.0%-74.7%

Loss

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Joby Aviation, Inc. (JOBY) reported free cash flow of −$563.8M for FY2025 (fiscal year ending 2025-12-31), down 18.2% year-over-year.

Joby Aviation, Inc. has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 6 fiscal years.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

JOBY free cash flow · 8 questions

Joby Aviation, Inc. free cash flow was −$563.8M for FY2025, down 18.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$661.2M.

JOBY free cash flowJOBY FCFJOBY FCF 2025JOBY free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Joby Aviation, Inc. · Joby Aviation, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026