# Archer Aviation Inc. (ACHR)

> Source: Nexqual · https://nexqual.com/ACHR · data as of 2026-11-09 21:00 UTC · cite as "Nexqual, Archer Aviation Inc. (ACHR), nexqual.com/ACHR" · informational, not investment advice.

**Price:** USD 4.81 (+8.33% on the day) · last close of Nov 9, 2026; US market pre market, not a live price. Prev close 4.44 · day 4.29–4.98 · 52w 3.62–9.29 · market cap $3.70B · NYQ

## Key facts
- Last four reported quarters (through Sep 30, 2026): revenue $12.0M, net income -$944M (-7869.2% margin), free cash flow -$730M (SEC filings).
- Analysts: Buy (mean 1.89 on a 1–5 scale) (9 analysts), mean target USD 10.89 (range 7–18).
- Total return with dividends: 1Y -43.1% vs S&P 500 +11.7%; 5Y -16.2% vs S&P 500 +72.2%.
- Latest earnings report: 2026-11-09 (next date not yet announced).
- Dividend: ACHR paid no cash dividend in the last five years.
- Short interest: 17.15% of float (as of 2026-10-15), 4.4 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | — | — | $0K | $0K | $300K | $12.0M |
| Gross profit | — | — | $0K | $0K | $100K | — |
| Operating income | -$358M | -$347M | -$447M | -$510M | -$729M | -$1.06B |
| Net income | -$348M | -$317M | -$458M | -$537M | -$618M | -$944M |
| EPS (diluted) | -$3.14 | -$1.32 | -$1.69 | -$1.42 | -$0.99 | — |
| Free cash flow | -$112M | -$207M | -$316M | -$451M | -$512M | -$730M |
| Gross margin | — | — | — | — | 33.3% | — |
| Operating margin | — | — | — | — | -243100.0% | -8811.7% |
| Net margin | — | — | — | — | -206066.7% | -7869.2% |
| Cash + short-term investments | $747M | $531M | $465M | $835M | $1.96B | — |
| Total debt | $18.8M | $9.3M | $7.2M | $64.0M | $80.3M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Sep 30, 2026)
P/S 308.6x · EV/Sales 203.5x · P/B 2.2x · FCF yield -19.72% · Earnings yield -25.50% · Net cash $1.26B · EV $2.44B

## Analysts
Consensus Buy (mean 1.89 on a 1–5 scale), 9 analysts; mean target USD 10.89 (low 7, high 18).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | Barclays | Upgrade | Equal-Weight → Overweight | $4.5 → $8 |
| 2026-08-11 | Cantor Fitzgerald | Reiterated | Overweight | $11 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-11-10) | 5Y (from 2021-11-08) |
|---|---|---|
| Total return | -43.1% | -16.2% |
| S&P 500 (SPY) | +11.7% | +72.2% |
| Per year | -43.2% | -3.5% |
| Volatility (annualized) | 69.9% | 86.7% |
| Max drawdown | -57.8% (Jan 2026→Oct 2026) | -75.4% (Dec 2021→Dec 2022) |

## Dividends
ACHR paid no cash dividend in the last five years.

## Short interest
114,809,733 shares sold short, 17.15% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 94,442,010 shares (+21.6%). Days to cover: 4.4 (short shares ÷ average daily volume).

## More
Full page: https://nexqual.com/ACHR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ACHR's own 10-K filed 2026-03-02 (https://www.sec.gov/Archives/edgar/data/1824502/000182450226000019/achr-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Hawthorne Airport | "We began generating lease revenue from the leasing of hangar space at Hawthorne Airport in the fourth quarter of 2025." |
| Partner | United Airlines Holdings, Inc. (UAL) | "We have also been continuing to advance our partnership with the Department of Defense ("DoD"), which started in 2021, on a series of projects through the United States Air Force's ("USAF") AFWERX program with the goal o…" |
| Partner | Stellantis (STLA) | "We have entered into, and may continue to pursue, strategic relationships, joint ventures, minority investments, acquisitions, and licensing arrangements, including our previously announced partnership with Anduril to jo…" |
| Partner | Anduril Industries | "Through our strategic partnership with Anduril Industries Inc. ("Anduril"), this aircraft platform is intended to meet the vertical lift needs of the U.S. and its Allies for decades to come." |

Other companies that name ACHR in their own reports (relationship from ACHR's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Highview Merger Corp. (HVMC) | 10-K 2026-03-27 | "a definitive agreement with Archer Aviation." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $-0.23 | $-0.22 | −$0.01 | $4.6M | 2 |
| Next quarter (ends 2027-03-31) | $-0.32 | $-0.31 | −$0.01 | $8.1M | 3 |
| Current fiscal year (ends 2026-12-31) | $-0.96 | $-1.01 | +$0.05 | $15.1M | 3 |
| Next fiscal year (ends 2027-12-31) | $-0.81 | $-0.93 | +$0.13 | $138.0M | 3 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Sep 30, 2026 | −$0.22 | −$0.25 | Beat +12.0% | — |
| — | Quarter ended Jun 30, 2026 | −$0.22 | −$0.25 | Beat +12.0% | — |
| — | Quarter ended Mar 31, 2026 | −$0.19 | −$0.24 | Beat +20.8% | — |
| — | Quarter ended Dec 31, 2025 | −$0.14 | −$0.17 | Beat +17.6% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).