EVTL net incomeFY2025£232.93M
EVTL net income was £232.93M for fiscal 2025 (ended Dec 31, 2025), compared with -£781.24M in fiscal 2024. Fiscal 2025 is the highest of the 7 fiscal years on file.
Vertical Aerospace Ltd. (EVTL) financials
For fiscal 2025 (ended Dec 31, 2025), Vertical Aerospace Ltd. reported £232.93M of net income. Figures are in GBP, the currency of its SEC filings.
- Net income, FY2025
- £232.93M
- Free cash flow, FY2025
- -£83.05M
- EPS, diluted, FY2025
- -£0.57
- Cash
- £69.08M
FY2019FY2021
FY2019FY2025
FY2019FY2025
EVTL revenue and earnings growth
EVTL EPSFY2025-£0.57
EVTL diluted EPS was -£0.57 for fiscal 2025 (ended Dec 31, 2025).
EVTL free cash flowFY2025-£83.05M
EVTL free cash flow was -£83.05M for fiscal 2025 (ended Dec 31, 2025), compared with -£46.72M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | £132.0K | £87.0K | £70.0K |
| Cost of revenue | - | - | - | - | £64.0K | £44.0K | £66.0K |
| Gross profit | - | - | - | - | £68.0K | £43.0K | £4.0K |
| Research and development | £71.99M | £59.89M | £65.37M | £49.13M | £24.29M | £9.97M | £5.15M |
| Selling, general and admin | £53.35M | £43.41M | £40.82M | £54.81M | £264.26M | £3.76M | £2.55M |
| Operating income | -£127.44M | -£61.17M | -£101.95M | -£98.11M | -£277.24M | -£11.52M | -£7.45M |
| Interest expense | - | - | £16.46M | £28.49M | £575.0K | £807.0K | £66.0K |
| Pre-tax income | £202.59M | -£781.20M | -£82.61M | -£94.38M | -£245.22M | -£12.32M | -£7.51M |
| Income tax | -£30.34M | £45.0K | -£22.66M | - | - | £4.0K | -£30.0K |
| Net income | £232.93M | -£781.24M | -£59.95M | -£94.38M | -£245.22M | -£12.33M | -£7.48M |
| EPS, basic | £2.63 | -£38.46 | -£3.13 | -£5.26 | -£19.80 | -£1.20 | -£0.70 |
| EPS, diluted | -£0.57 | -£38.46 | -£3.13 | -£5.26 | -£19.80 | -£1.20 | -£0.70 |
| Diluted shares | 127.2M | 20.3M | 19.1M | 17.9M | 12.4M | 10.0M | 10.0M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | £69.08M | £22.56M | £48.68M | £62.93M | £212.66M | £839.0K | £1.03M |
| Receivables | £29.46M | £18.30M | £26.41M | £18.86M | £12.66M | £3.53M | - |
| Current assets | £99.77M | £42.55M | £76.79M | £143.38M | £225.32M | £4.37M | - |
| Total assets | £105.17M | £47.73M | £84.08M | £151.24M | £233.33M | £8.88M | - |
| Current liabilities | £223.17M | £540.84M | £127.71M | £136.75M | £51.32M | £8.89M | - |
| Total liabilities | £226.62M | £547.07M | £133.86M | £143.92M | £171.77M | £9.82M | - |
| Shareholders' equity | -£121.44M | -£499.34M | -£49.78M | £7.32M | £61.56M | -£938.0K | £4.16M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -£82.76M | -£46.29M | -£74.70M | -£103.71M | -£27.55M | -£12.01M | -£7.28M |
| Capital expenditures | £290.0K | £428.0K | £2.10M | £1.44M | £790.0K | £155.0K | £1.53M |
| Free cash flow | -£83.05M | -£46.72M | -£76.80M | -£105.15M | -£28.34M | -£12.17M | -£8.81M |
| Investing cash flow | £2.61M | £1.73M | £61.38M | -£62.96M | -£3.35M | -£688.0K | -£2.83M |
| Financing cash flow | £127.81M | £18.77M | £169.0K | £7.25M | £244.71M | £12.51M | £10.87M |
| Stock-based compensation | £9.67M | £7.49M | £8.82M | £23.19M | £101.61M | £96.0K | - |
| Depreciation and amortization | £1.10M | £1.97M | £2.06M | £1.77M | £765.0K | £542.0K | £159.0K |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | - | - | 51.7% | 24.3% | - |
| Gross margin | - | - | - | - | 51.5% | 49.4% | 5.7% |
| Operating margin | - | - | - | - | -210029.5% | -13235.6% | -10640.0% |
| Net margin | - | - | - | - | -185775.8% | -14167.8% | -10691.4% |
| Free cash flow margin | - | - | - | - | -21469.7% | -13985.1% | -12585.7% |
| Return on equity | - | - | - | -1289.6% | -398.3% | - | -179.8% |
| Return on assets | 221.5% | -1636.7% | -71.3% | -62.4% | -105.1% | -138.7% | - |
| Current ratio | 0.45 | 0.08 | 0.60 | 1.05 | 4.39 | 0.49 | - |
Income statement
| Line item | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|
| Research and development | £22.48M | £15.39M |
| Selling, general and admin | £6.42M | £10.13M |
| Operating income | -£27.43M | - |
| Pre-tax income | -£24.16M | - |
| Income tax | -£6.06M | - |
| Net income | -£18.10M | -£30.07M |
Balance sheet
| Line item | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|
| Cash and equivalents | £48.68M | £74.16M |
| Receivables | £26.41M | - |
| Current assets | £76.79M | - |
| Total assets | £84.08M | - |
| Current liabilities | £127.71M | - |
| Total liabilities | £133.86M | - |
| Shareholders' equity | -£49.78M | - |
Cash flow
| Line item | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|
| Operating cash flow | -£24.95M | -£16.69M |
| Capital expenditures | £501.0K | £297.0K |
| Free cash flow | -£25.45M | -£16.99M |
| Investing cash flow | -£138.0K | £672.0K |
| Financing cash flow | -£191.0K | £529.0K |
| Stock-based compensation | -£464.0K | £2.22M |
| Depreciation and amortization | £529.0K | £537.0K |
Key ratios
Source: XBRL data Vertical Aerospace Ltd. files with the SEC, latest filing dated Mar 24, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 1-for-10, first reported Mar 11, 2025.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
EVTL peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| EVTL | - | - | £232.93M | - | $69.5M |
| RTX | $95.99B | +11.6% | $8.40B | 8.8% | $255.76B |
| BA | $94.91B | +17.5% | $7.66B | 8.1% | $137.41B |
| HON | $33.61B | +3.9% | $7.05B | 21.0% | $69.83B |
| HEI | $5.18B | +20.7% | $847.72M | 16.4% | $46.49B |
| PAC | MXN 41.41B | +23.2% | MXN 9.57B | 23.1% | $14.79B |
| TXT | $15.45B | +8.5% | $973.00M | 6.3% | $14.15B |
| EMBJ | $7.58B | +18.5% | $351.90M | 4.6% | $13.39B |
EVTL FAQ
6 questionsIs EVTL profitable?
Yes. Vertical Aerospace Ltd. earned £232.93M in net income for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does EVTL have?
Vertical Aerospace Ltd. reported £69.08M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is EVTL free cash flow?
Vertical Aerospace Ltd. generated -£83.05M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -£82.76M less capital expenditures.What is EVTL earnings per share?
Diluted earnings per share were -£0.57 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did EVTL last report financial results?
The latest statements here come from Vertical Aerospace Ltd.'s 20-F filed on Mar 24, 2026, covering the period ended Dec 31, 2025.Where does this EVTL financial data come from?
Quantisnow builds these statements from the structured XBRL data Vertical Aerospace Ltd. files with the SEC. It is provided for information only and is not investment advice.