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Archer vs. Eve: Which eVTOL Stock Has the Edge in Next-Gen Transport?
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Key Takeaways
ACHR plans to launch Midnight air taxi services by 2025-end, backed by key FAA and global certifications.
EVEX targets 2026 for service rollout and 2027 for eVTOL sales, supported by growing LOI commitments.
ACHR's strong cash position and global partnerships strengthen its lead in short-haul electric air mobility.
As cities around the globe grapple with growing congestion and the urgent need for sustainable mobility, the electric vertical takeoff and landing (eVTOL) industry is gaining altitude — both technologically and financially. Among the frontrunners in this transformative industry are Archer Aviation Inc. (ACHR - Free Report) and Eve Holding Inc. (EVEX - Free Report) , two ambitious startups racing to redefine short-distance urban transport with zero-emission aircraft.
U.S.-based Archer Aviation is currently in the final stages of the commercial rollout of its flagship Midnight aircraft to offer short-haul air taxi services. Its focus on rapid FAA certification and infrastructure development underscores its progress toward successfully launching commercial services of the Midnight aircraft in major cities by 2025-end.
In contrast, Brazil-based Eve, a spin-off from aerospace giant Embraer, is leveraging its parent company’s manufacturing pedigree and global reach. The company has already completed numerous component and systems tests for its eVTOL aircraft, with flight tests on track to begin this summer and ultimate entrance into service expected next year.
With the massive growth projection offered by the global eVTOL market in the coming years, investors are exhibiting heightened interest in next-generation transportation. Given ACHR and EVEX’s differing strategies, geographic footprints, and progress toward regulatory milestones, investors might be left with the question: Which eVTOL stock is better positioned to take off ahead? Let’s delve deeper to get that answer.
Financials and Growth Catalysts: How Do Archer and Eve Stack Up?
ACHR ended first-quarter 2025 with cash and cash equivalents of $1.04 billion. Its long-term debt totaled $0.74 billion while its current debt was nil. This reflects a solid solvency position for the company and should provide it with the necessary resources to execute its civil and defense business strategies and invest in innovative technologies.
EVEX also maintains a strong cash position, with $0.06 billion on hand as of March 31, 2025. As of the same date, its short-term debt was nil, while its long-term debt was $0.14 billion. This implies that while the stock is financially viable for the near term, its long-term solvency hinges on its ability to successfully generate considerable revenues before its cash reserves diminish.
With respect to growth catalysts, strong government and commercial collaborations strengthen Archer Aviation’s position in the expanding eVTOL market. In June 2025, Archer Aviation signed an agreement with Indonesia’s PT. IKN to deploy its Midnight eVTOL aircraft, making Indonesia the third country in its Launch Edition program. The goal is to build a clear path to commercial use of its Midnight aircraft before receiving full certification in the United States, following similar plans in the UAE and Ethiopia. The company recently signed a strategic partnership with Jetex to develop infrastructure at the latter’s network of private terminals for facilitating Midnight aircraft’s upcoming commercial air taxi operations.
Regarding ACHR’s progress in its Midnight eVTOL product line, it is imperative to mention that earlier this month, the company joined U.S. and international regulators to launch a five-nation alliance (U.S., U.K., Australia, Canada, New Zealand) aimed at streamlining global eVTOL certification. This would facilitate Archer’s Midnight aircraft’s smooth entry into international markets after U.S. FAA approval.
As far as Eve Holdings’ growth drivers are concerned, the company’s growing backlog of Letters of Intent (LOIs), such as the recent agreement with Future Flight Global for up to 54 eVTOLs, reflects rising global interest in its aircraft and technology. These LOIs serve as early indicators of strong commercial demand across strategic markets like Brazil and the United States. As Eve progresses toward certification, this robust pipeline strengthens its growth outlook and supports future revenue generation.
Notably, the company currently expects commercialization of its eVTOL services-and-support business beginning in 2026, followed by the commercialization and initial revenue generation from the sale of its eVTOLs beginning in 2027.
Challenges for ACHR & EVEX
Both Archer Aviation and Eve Air Mobility are navigating a capital-intensive path, and the long-term sustainability of their business models remains uncertain due to the early-stage nature of the eVTOL industry. Their success hinges not only on their ability to design, certify, and deploy safe and efficient aircraft but also on how market demand for urban air mobility (UAM) services evolves over time.
Public adoption of eVTOLs as a viable alternative to traditional ground transportation may face challenges related to safety perceptions, noise concerns and affordability.
Additionally, macroeconomic headwinds could dampen demand, particularly if end-user pricing for air taxi services significantly exceeds that of ground-based options. As both ACHR and EVEX are still in their pre-revenue phases, investors may remain cautious about their long-term growth prospects.
How Does Zacks Consensus Estimate Compare for ACHR & EVEX?
The Zacks Consensus Estimate for Archer Aviation’s 2025 loss per share implies a year-over-year improvement, while the same for 2026 suggests a deterioration. The stock’s near-term bottom-line estimates have been trending upward over the past 60 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Eve Holding’s 2025 loss per share suggests a year-over-year deterioration, while the same for 2026 implies no change. The stock’s near-term bottom-line estimates have been trending southward over the past 60 days.
Image Source: Zacks Investment Research
Stock Price Performance: ACHR vs EVEX
ACHR (up 32%) has underperformed EVEX (up 47.3%) over the past three months. But, an opposite trend can be witnessed in the prior-year performance of these stocks. Shares of ACHR and JOBY have surged 194% and 40.8%, respectively, in the past year.
Image Source: Zacks Investment Research
ROE: ACHR vs EVEX
The image below, reflecting a negative Return on Equity (ROE) for ACHR and EVEX, suggests that neither of these eVTOL stocks is efficiently generating profits from equity base.
Image Source: Zacks Investment Research
Final Task
While both Archer Aviation and Eve Air Mobility are positioned as prominent forerunners in the emerging eVTOL space, challenges remain in terms of the industry’s viability and public acceptance over the long run.
With FAA certification for its Midnight aircraft targeted by end-2025 (as expected by ACHR) and infrastructure partnerships underway, Archer Aviation is closer to generating revenues and scaling operations. Eve, supported by Embraer and backed by numerous LOIs, shows long-term potential but lags ACHR in terms of commercialization for eVTOL aircraft, which is expected (for EVEX) during 2026-2027.
Therefore, despite shared industry risks, like high costs and uncertain demand, for investors looking for a more immediate path to market entry, regulatory traction, and strategic global expansion, Archer Aviation currently holds the edge in the race for next-gen urban air mobility leadership.
Image: Bigstock
Archer vs. Eve: Which eVTOL Stock Has the Edge in Next-Gen Transport?
Key Takeaways
As cities around the globe grapple with growing congestion and the urgent need for sustainable mobility, the electric vertical takeoff and landing (eVTOL) industry is gaining altitude — both technologically and financially. Among the frontrunners in this transformative industry are Archer Aviation Inc. (ACHR - Free Report) and Eve Holding Inc. (EVEX - Free Report) , two ambitious startups racing to redefine short-distance urban transport with zero-emission aircraft.
U.S.-based Archer Aviation is currently in the final stages of the commercial rollout of its flagship Midnight aircraft to offer short-haul air taxi services. Its focus on rapid FAA certification and infrastructure development underscores its progress toward successfully launching commercial services of the Midnight aircraft in major cities by 2025-end.
In contrast, Brazil-based Eve, a spin-off from aerospace giant Embraer, is leveraging its parent company’s manufacturing pedigree and global reach. The company has already completed numerous component and systems tests for its eVTOL aircraft, with flight tests on track to begin this summer and ultimate entrance into service expected next year.
With the massive growth projection offered by the global eVTOL market in the coming years, investors are exhibiting heightened interest in next-generation transportation. Given ACHR and EVEX’s differing strategies, geographic footprints, and progress toward regulatory milestones, investors might be left with the question: Which eVTOL stock is better positioned to take off ahead? Let’s delve deeper to get that answer.
Financials and Growth Catalysts: How Do Archer and Eve Stack Up?
ACHR ended first-quarter 2025 with cash and cash equivalents of $1.04 billion. Its long-term debt totaled $0.74 billion while its current debt was nil. This reflects a solid solvency position for the company and should provide it with the necessary resources to execute its civil and defense business strategies and invest in innovative technologies.
EVEX also maintains a strong cash position, with $0.06 billion on hand as of March 31, 2025. As of the same date, its short-term debt was nil, while its long-term debt was $0.14 billion. This implies that while the stock is financially viable for the near term, its long-term solvency hinges on its ability to successfully generate considerable revenues before its cash reserves diminish.
With respect to growth catalysts, strong government and commercial collaborations strengthen Archer Aviation’s position in the expanding eVTOL market. In June 2025, Archer Aviation signed an agreement with Indonesia’s PT. IKN to deploy its Midnight eVTOL aircraft, making Indonesia the third country in its Launch Edition program. The goal is to build a clear path to commercial use of its Midnight aircraft before receiving full certification in the United States, following similar plans in the UAE and Ethiopia. The company recently signed a strategic partnership with Jetex to develop infrastructure at the latter’s network of private terminals for facilitating Midnight aircraft’s upcoming commercial air taxi operations.
Regarding ACHR’s progress in its Midnight eVTOL product line, it is imperative to mention that earlier this month, the company joined U.S. and international regulators to launch a five-nation alliance (U.S., U.K., Australia, Canada, New Zealand) aimed at streamlining global eVTOL certification. This would facilitate Archer’s Midnight aircraft’s smooth entry into international markets after U.S. FAA approval.
As far as Eve Holdings’ growth drivers are concerned, the company’s growing backlog of Letters of Intent (LOIs), such as the recent agreement with Future Flight Global for up to 54 eVTOLs, reflects rising global interest in its aircraft and technology. These LOIs serve as early indicators of strong commercial demand across strategic markets like Brazil and the United States. As Eve progresses toward certification, this robust pipeline strengthens its growth outlook and supports future revenue generation.
Notably, the company currently expects commercialization of its eVTOL services-and-support business beginning in 2026, followed by the commercialization and initial revenue generation from the sale of its eVTOLs beginning in 2027.
Challenges for ACHR & EVEX
Both Archer Aviation and Eve Air Mobility are navigating a capital-intensive path, and the long-term sustainability of their business models remains uncertain due to the early-stage nature of the eVTOL industry. Their success hinges not only on their ability to design, certify, and deploy safe and efficient aircraft but also on how market demand for urban air mobility (UAM) services evolves over time.
Public adoption of eVTOLs as a viable alternative to traditional ground transportation may face challenges related to safety perceptions, noise concerns and affordability.
Additionally, macroeconomic headwinds could dampen demand, particularly if end-user pricing for air taxi services significantly exceeds that of ground-based options. As both ACHR and EVEX are still in their pre-revenue phases, investors may remain cautious about their long-term growth prospects.
How Does Zacks Consensus Estimate Compare for ACHR & EVEX?
The Zacks Consensus Estimate for Archer Aviation’s 2025 loss per share implies a year-over-year improvement, while the same for 2026 suggests a deterioration. The stock’s near-term bottom-line estimates have been trending upward over the past 60 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Eve Holding’s 2025 loss per share suggests a year-over-year deterioration, while the same for 2026 implies no change. The stock’s near-term bottom-line estimates have been trending southward over the past 60 days.
Image Source: Zacks Investment Research
Stock Price Performance: ACHR vs EVEX
ACHR (up 32%) has underperformed EVEX (up 47.3%) over the past three months. But, an opposite trend can be witnessed in the prior-year performance of these stocks. Shares of ACHR and JOBY have surged 194% and 40.8%, respectively, in the past year.
Image Source: Zacks Investment Research
ROE: ACHR vs EVEX
The image below, reflecting a negative Return on Equity (ROE) for ACHR and EVEX, suggests that neither of these eVTOL stocks is efficiently generating profits from equity base.
Image Source: Zacks Investment Research
Final Task
While both Archer Aviation and Eve Air Mobility are positioned as prominent forerunners in the emerging eVTOL space, challenges remain in terms of the industry’s viability and public acceptance over the long run.
With FAA certification for its Midnight aircraft targeted by end-2025 (as expected by ACHR) and infrastructure partnerships underway, Archer Aviation is closer to generating revenues and scaling operations. Eve, supported by Embraer and backed by numerous LOIs, shows long-term potential but lags ACHR in terms of commercialization for eVTOL aircraft, which is expected (for EVEX) during 2026-2027.
Therefore, despite shared industry risks, like high costs and uncertain demand, for investors looking for a more immediate path to market entry, regulatory traction, and strategic global expansion, Archer Aviation currently holds the edge in the race for next-gen urban air mobility leadership.
Both ACHR and EVEX carry a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.