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15.5 times its analysts-projected 2028 sales is what Joby Aviation (NYSE: JOBY) currently trades at, a 7-point premium over Archer Aviation (NYSE: ACHR) at 8.5 times the same estimate.
Analysts project Joby's revenue at $53 million in 2025, climbing to $435 million by 2028; Archer's is projected to rise from less than $1 million to $512 million over the same period.
The larger Archer revenue figure arrives with the cheaper multiple, but the case for Joby's premium rests on aircraft specs, FAA certification standing, and a business model that retains more margin in-house.
The aircraft case Joby's S4 and Archer's Midnight carry identical payloads: one pilot, four passengers. The performance specs diverge sharply.
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