Latest revenue
—
as of 2025-05-31
Latest net income
$5.2M
as of 2025-05-31
Net margin
—
as of 2025-05-31
Community sentiment
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HOVR vs S&P 500 · rebased to 100
Live market
delayed ≤15 min- Market cap
- $102.5M
- Enterprise value
- $83.3M
- P/E (trailing)
- 19.7×
- Forward P/E
- —
- P/B
- 7.26×
- Dividend yield
- 0.0%
- 52-wk high
- $4.18
- 52-wk low
- $1.03
- Beta
- —
- Shares out
- 45.3M
What this company does
Item 1. Business. Overview We are an advanced aerospace Original Equipment Manufacturer (“OEM”) that is designing a next generation hybrid-electric Vertical Takeoff and Landing (“eVTOL”) aircraft for the Regional Air Mobility (“RAM”) market. Our aircraft aims to offer a more efficient way to move people and goods at a regional scale (i.e., from 50 to 500 miles), help to connect remote communities, and will advance our ability to deal with an increasing number of climate-related natural disasters such as wildfires, floods, or droughts. The product we are designing and delivering is a hybrid electric 7-seat aircraft, coined the Cavorite X7, that can take off and land vertically like a…
AI summary unavailable — showing raw filing excerpt
Generated from HOVR's filing dated 2025-08-22
Key risks
Item 1A. Risk Factors. The following risk factors apply to the business and operations of Horizon and its consolidated subsidiaries. The occurrence of one or more of the events or circumstances described in these risk factors, alone or in combination with other events or circumstances, may adversely affect the ability to realize the anticipated benefits of the Company and may have an adverse effect on the business, cash flows, financial condition and results of operations of Horizon. We may face additional risks and uncertainties that are not presently known to us or that we currently deem immaterial, which may also impair our business, cash flows, financial condition and results of…
AI summary unavailable — showing raw filing excerpt
Generated from HOVR's filing dated 2025-08-22
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within Aircraft (14 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 10, 2026.
Fair value · DCF
Methodology + caveats (click to expand)
Method. 10-year forecast of free cash flow, discounted at the company's WACC, with a Gordon-growth terminal at year 10. FCF is proxied by last fiscal-year net income (proper FCF needs CFO − CapEx by year, which we don't store yet). Beta defaults to 1.0 when not reported.
Why DCF is fragile. Treat the output as a thinking aid, not a verdict. Honest weaknesses of any DCF:
- Growth is the dominant assumption. No one can foresee 10 years of growth — small changes in the slider can double or halve fair value. The reverse-DCF readout above tells you what the market is implicitly assuming; ask yourself whether that's realistic before trusting either number.
- Terminal value dominates. In most DCFs, 60-80% of the answer comes from the terminal-value calculation — i.e., everything AFTER year 10. A 0.5pp change in terminal growth, or in WACC, can swing fair value by 20-30%.
- WACC is itself a guess. We use a textbook CAPM cost of equity (Rf 4.3%, MRP 5.5%, β from the quote) plus a 6% pretax cost of debt — none of these are the company's actual marginal financing cost.
- No moat / disruption modelling. The model assumes the company keeps earning whatever it earns today, compounding cleanly. Competitive shifts, regulatory action, and technology disruption can invalidate the forecast overnight.
- Net income ≠ free cash flow. For capex-heavy names (semis, telcos) net income overstates distributable cash. For low-capex names (software) it understates. Both reduce the precision of the FV figure.
- Reflexivity. A high stock price often becomes a self-fulfilling prophecy via better hiring, financing, and customer trust. DCF can't see this.
Take the DCF, the reverse-DCF implied growth, the historical multiples, and the community sentiment together. When they agree, conviction. When they disagree, the disagreement is the most informative thing on the page.