olivLaw · US equity research
Vertical Aerospace Ltd. EVTL
Aircraft · SIC 3721 · Vertical: Aircraft (SIC 3721)
Vertical Aerospace is developing Valo, a zero operating emission eVTOL for the advanced air mobility market, now in the final flight test phase and in certification with the CAA and EASA. The company depends heavily on external financing and on a controlling shareholder, so progress toward certification and commercialization depends on capital available in the coming years.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Vertical Aerospace Ltd. (EVTL) stock was 0.40 USD (+5.28% on the day), with beta 2.59, 52-week range 0.36–7.28 USD. Latest reported quarter (Q4 2023): net income of -18.1 m USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 38.5
- weak (30–45)
- Bollinger (20, 2)
- 0.33 – 0.51
- in the lower half of the band · %B 0.39 · band width 42.9%
- SMA 50 / 200
- 0.54 / 2.21
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.05 / -0.06
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −26.0% | −2.0% | −24.0 pp | — |
| 3 months | −69.1% | −2.2% | −67.0 pp | — |
| 6 months | −85.3% | +4.3% | −89.5 pp | — |
| Year to date | −92.5% | +10.6% | −103.0 pp | — |
| 1 year | −90.6% | +10.5% | −101.0 pp | −42.2% |
| 3 years | −95.7% | +73.7% | −169.3 pp | −16.5% |
| 5 years | −99.6% | +61.7% | −161.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q4 2023 · 31 Dec 2023
Quarterly statements · GBP
| Fiscal year | Q3 '23 | Q4 '23 |
|---|---|---|
| Research & development | 15.4 m | 22.5 m |
| Operating income | — | -27.4 m |
| Pre-tax income | — | -24.2 m |
| Income tax | — | -6.1 m |
| Net income | -30.1 m | -18.1 m |
| Operating cash flow | -16.7 m ≈ | -25.0 m |
| Capex | 297.0 k ≈ | 501.0 k |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
the price (USD) and the reports are in different currencies
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 70.0 k | 87.0 k | 132.0 k | unavailable | unavailable | unavailable | unavailable |
| Revenue YoY | unavailable | +24.3% | +51.7% | unavailable | unavailable | unavailable | unavailable |
| Net income | -7.5 m | -12.3 m | -245.2 m | -94.4 m | -59.9 m | -781.2 m | 232.9 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -0.07 | -0.12 | -1.98 | -5.26 | -3.13 | -38.46 | -0.57 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -10,691.4% | -14,167.8% | -185,775.8% | unavailable | unavailable | unavailable | unavailable |
| Free cash flow | -8.8 m | -12.2 m | -28.3 m | -105.2 m | -76.8 m | -46.7 m | -83.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 69.1 m GBP
- Financial debt
- unavailable GBP
- Net debt
- unavailable GBP
- Equity
- -121.4 m GBP
- Total assets
- 105.2 m GBP
- Debt / equity
- unavailable
- Current ratio
- 0.45x
- ROE
- unavailable
- ROA
- 304.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 87.0 k | 132.0 k | — | — | — | — | SEC (XBRL)· 29 Apr 2022verified |
| Cost of revenue | 44.0 k | 64.0 k | — | — | — | — | SEC (XBRL)· 29 Apr 2022verified |
| Gross profit | 43.0 k | 68.0 k | — | — | — | — | SEC (XBRL)· 29 Apr 2022verified |
| Research & development | 10.0 m | 24.3 m | 49.1 m | 65.4 m | 59.9 m | 72.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Operating income | -11.5 m | -277.2 m | -98.1 m | -101.9 m | -61.2 m | -127.4 m | SEC (XBRL)· 24 Mar 2026verified |
| Interest expense | 807.0 k | 575.0 k | 28.5 m | 16.5 m | — | — | SEC (XBRL)· 14 Mar 2024verified |
| Pre-tax income | -12.3 m | -245.2 m | -94.4 m | -82.6 m | -781.2 m | 202.6 m | SEC (XBRL)· 24 Mar 2026verified |
| Income tax | 4.0 k | — | — | -22.7 m | 45.0 k | -30.3 m | SEC (XBRL)· 24 Mar 2026verified |
| Net income | -12.3 m | -245.2 m | -94.4 m | -59.9 m | -781.2 m | 232.9 m | SEC (XBRL)· 24 Mar 2026verified |
| Diluted EPS | -0.12 | -1.98 | -5.26 | -3.13 | -38.46 | -0.57 | SEC (XBRL)· 24 Mar 2026verified |
| Weighted average diluted shares | 99.9 m | 124.1 m | 17.9 m | 19.1 m | 20.3 m | 127.2 m | SEC (XBRL)· 24 Mar 2026verified |
Balance sheet · GBP
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 839.0 k | 212.7 m | 62.9 m | 48.7 m | 22.6 m | 69.1 m | SEC (XBRL)· 24 Mar 2026verified |
| Receivables | 3.5 m | 12.7 m | 18.9 m | 26.4 m | 18.3 m | 29.5 m | SEC (XBRL)· 24 Mar 2026verified |
| Current assets | 4.4 m | 225.3 m | 143.4 m | 76.8 m | 42.6 m | 99.8 m | SEC (XBRL)· 24 Mar 2026verified |
| Property, plant & equipment, net | 1.4 m | 1.8 m | 2.7 m | 3.8 m | 3.1 m | 2.4 m | SEC (XBRL)· 24 Mar 2026verified |
| Intangibles (excl. goodwill) | — | — | 2.0 m | 1.0 m | 132.0 k | — | SEC (XBRL)· 11 Mar 2025verified |
| Total assets | 8.9 m | 233.3 m | 151.2 m | 84.1 m | 47.7 m | 105.2 m | SEC (XBRL)· 24 Mar 2026verified |
| Accounts payable | 2.4 m | 40.2 m | 16.0 m | 16.9 m | 15.6 m | 33.5 m | SEC (XBRL)· 24 Mar 2026verified |
| Current liabilities | 8.9 m | 51.3 m | 136.8 m | 127.7 m | 540.8 m | 223.2 m | SEC (XBRL)· 24 Mar 2026verified |
| Total liabilities | 9.8 m | 171.8 m | 143.9 m | 133.9 m | 547.1 m | 226.6 m | SEC (XBRL)· 24 Mar 2026verified |
| Equity | -938.0 k | 61.6 m | 7.3 m | -49.8 m | -499.3 m | -121.4 m | SEC (XBRL)· 24 Mar 2026verified |
| Shares outstanding at year end | — | 209.1 m | 214.2 m | 221.2 m | 69.5 m | 101.6 m | SEC (XBRL)· 24 Mar 2026verified |
Cash flow · GBP
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -12.0 m | -27.6 m | -103.7 m | -74.7 m | -46.3 m | -82.8 m | SEC (XBRL)· 24 Mar 2026verified |
| Capex | 155.0 k | 790.0 k | 1.4 m | 2.1 m | 428.0 k | 290.0 k | SEC (XBRL)· 24 Mar 2026verified |
| Free cash flow | -12.2 m ≈ | -28.3 m ≈ | -105.2 m ≈ | -76.8 m ≈ | -46.7 m ≈ | -83.1 m ≈ | SEC (XBRL)· 24 Mar 2026derived |
| Investing cash flow | -688.0 k | -3.4 m | -63.0 m | 61.4 m | 1.7 m | 2.6 m | SEC (XBRL)· 24 Mar 2026verified |
| Financing cash flow | 12.5 m | 244.7 m | 7.2 m | 169.0 k | 18.8 m | 127.8 m | SEC (XBRL)· 24 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 10.4% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Price and reporting are in different currencies; market indicators are unavailable.
Key indicators
Coverage and freshness
Score by group
10% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 10.4% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | -35.7% | 0 (on a fixed band) | 60% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.4x | 0 (on a fixed band) | 40% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial0/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial0/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Vertical Aerospace Ltd. (EVTL). Latest full fiscal year: 2021; data up to 2025-12-31.
Figures computed from the financial statements: revenue 132.0 k GBP in 2021; YoY growth 51.7%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 10.4% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- FCF conversion: -35.7%
- Current ratio: 0.4x
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Aircraft (SIC 3721) · same industry (4-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BAThe Boeing Company | 137.3 bn | 18.2 | — | 8.1% | +34.5% | −8% / −25% |
| EMBJEmbraer S.A. | 56.8 bn | 163.6 | 10.8% | 4.6% | +18.5% | +25% / +349% |
| AVAVAerovironment, Inc. | 5.8 bn | — | -4.6% | -10.1% | +140.9% | −59% / −18% |
| JOBYJoby Aviation, Inc. | 5.0 bn | — | -65.9% | -755.1% | +39,183.1% | −65% / −15% |
| ACHRArcher Aviation Inc. | 3.2 bn | — | -44.8% | -11,589.9% | unavailable | −47% / −31% |
| BETABETA Technologies, Inc. | 951.1 m | — | -46.8% | -1,007.8% | +136.0% | −7% / unavailable |
| AIROAIRO Group Holdings, Inc. | 171.0 m | — | -3.6% | -23.9% | +4.6% | −37% / unavailable |
| MOBMobilicom Limited | 36.5 m | — | -369.2% | -705.4% | +5.8% | −58% / +115% |
| UAVSAgEagle Aerial Systems Inc. | 21.8 m | — | -106.1% | -276.5% | −4.3% | −74% / −100% |
| DUKRDUKE Robotics Corp. | 11.2 m | — | -66.6% | -611.0% | +249.1% | +1,382% / +3,160% |
| EVTLVertical Aerospace Ltd. | — | — | — | — | +51.7% | −91% / −96% |
1- and 3-year price returns: for EVTL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 24 Mar 2026; since then the company filed 6-K (02 Nov 2026), 6-K (22 Oct 2026), 6-K (21 Oct 2026), 6-K (16 Oct 2026), 6-K (07 Oct 2026), 6-K (05 Oct 2026).
In brief
Vertical Aerospace is developing Valo, a zero operating emission eVTOL for the advanced air mobility market, now in the final flight test phase and in certification with the CAA and EASA. The company depends heavily on external financing and on a controlling shareholder, so progress toward certification and commercialization depends on capital available in the coming years 1.
SWOT
Strengths
- The company has a team experienced in aircraft certification and an ecosystem of partners from aerospace and automotive 1.
- Valo has completed an extensive flight test program, including wingborne flight and transition testing in its final phase, which reduces technical uncertainty 1.
- The company holds a DOA issued by the CAA, which allows it to approve designs within its scope 1.
Weaknesses
- Vertical has not yet delivered a non-prototype aircraft and has no revenue from eVTOL sales, which makes commercial performance hard to assess 1.
- The company has disclosed a material uncertainty regarding going concern tied to its need for additional funding 1.
- Control is concentrated in a majority shareholder, which may create conflicts of interest with other investors 1.
Opportunities
- If Valo obtains certification, the company could convert its pre-orders and partnerships with large aviation and logistics operators 1.
- The hybrid-electric variant could open new segments in defense, logistics and medical transport 1.
- Demand for fast, zero-emission urban transport could grow if infrastructure and regulation develop 1.
Threats
- Certification delays or regulatory changes could postpone the company's commercial timeline 1.
- An accident involving an eVTOL, whether from the company or a competitor, could weaken confidence in the whole category 1.
- Pre-orders are conditional and can be terminated without penalty, which may reduce the predictability of future revenue 1.
Risks
- Delayed certificationhigh
The aircraft might not be certified by transport authorities on time, or at all, which would adversely affect the company's prospects 1.
- Need for additional capitalhigh
The business plan requires significant additional funding, and access to capital could be limited or costly, potentially diluting shareholders 1.
- Going concern uncertaintyhigh
The company has flagged a material uncertainty that could call into question its ability to continue operating without new sources of funding 1.
- Non-binding pre-ordersmedium
Pre-orders are not legally binding and can be terminated, which could affect future revenue if customers withdraw 1.
- Concentrated controlmedium
The majority shareholder may have interests that differ from those of other shareholders, affecting strategic and financing decisions 1.
Investment thesis
What would need to be true (bull case)
- If Valo obtains certification in the UK and EU, the company could enter the AAM market with a timing advantage, supported by pre-orders and strong partnerships 1.
- Extending into the hybrid-electric variant could diversify revenue toward defense, logistics and medical services 1.
- The team's experience certifying over 30 aircraft and propulsion systems could reduce execution risk during certification 1.
What would break the thesis
- The company has no aircraft sales revenue yet, and certification or production delays could extend the period of losses 1.
- The need for capital could force new equity or debt issuance, diluting existing shareholders 1.
- Pre-orders are not binding and can be cancelled, which could make actual sales volumes harder to predict 1.
What to watch
- Progress of the Phase 4 piloted transition flight testing and the third prototype2026
- New funding sources and any changes to the capital structurenext 10-K
- CAA and EASA certification timeline for Valo2027
- Conversion of pre-orders with American Airlines or Marubeni into firm contracts2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 24 Mar 2026; since then the company filed 6-K (02 Nov 2026), 6-K (22 Oct 2026), 6-K (21 Oct 2026), 6-K (16 Oct 2026), 6-K (07 Oct 2026), 6-K (05 Oct 2026).
The business
Vertical Aerospace, founded in 2016 and listed on the NYSE in 2021, designs, manufactures and sells zero operating emission eVTOL aircraft, with Valo as its flagship, the successor to the VX4 prototype 1. As of December 31, 2025 the company had not manufactured any non-prototype aircraft or sold any eVTOL to customers, and Valo targets carrying a pilot and up to six passengers over distances of up to 100 miles 1. Vertical is also developing a hybrid-electric variant with greater range and payload for defense, logistics and air ambulance uses 1.
The business model relies on strategic partnerships: Honeywell for flight controls, Aciturri for the airframe, Syensqo for composites, Evolito for electric propulsion units and CAE for simulators and training 1. The company intends to sell to airlines, leasing companies, business aviation operators, existing helicopter operators and new AAM operators, and to offer aftermarket services 1.
Financially, the company reported recurring losses and dependence on additional capital in 2025, which led management to disclose a material uncertainty regarding going concern 1. Mudrick Capital, which converted approximately 130 million USD of convertible notes in December 2024, is now the ultimate controlling party, holding about 55% of voting power as of February 27, 2026 1.
Segments
Valo eVTOL aircraft
Valo is the main aircraft, with zero operating emissions, targeting certification in 2028 and carrying six passengers over distances of up to 100 miles at cruise speeds of 150 mph 1. The second prototype entered piloted transition flight testing in November 2025, and the third was assembled in December 2025 1.
Hybrid-electric variant
The hybrid-electric aircraft, announced in May 2025, aims to extend payload up to 1,100 kg and range beyond 1,000 miles while keeping the same airframe architecture as the eVTOL 1. It targets defense, logistics and air ambulance uses where range and payload needs exceed current eVTOL platforms 1.
Aftermarket and support services
The company plans to offer maintenance, spare parts and training packages after delivery, with CAE as exclusive training device provider and a Bristow partnership aimed at turnkey access to aircraft, pilots, maintenance and insurance 1. These services are planned for the commercial phase and depend on certification 1.
Market context
The advanced air mobility market is at an early stage, and Morgan Stanley projects the urban air mobility market could reach a total addressable market of 1 trillion USD by 2040 1. Vertical positions itself in segments including helicopters, with a total addressable market of 96.5 billion USD projected for 2026, and ride-hailing, projected at 188.6 billion USD in 2026 1.
The company has identified concrete routes such as JFK to Manhattan and Heathrow to Cambridge, and in the UK about 7.7 million people in towns near the Heathrow hub could be connected if certification succeeds 1. Demand growth depends on evolving regulation and airspace infrastructure 1.
Trends
- Certification in the UK and EUtailwind
The CAA and EASA have agreed how they will collaborate on certification, and the CAA has announced an eVTOL delivery model for commercial flights by the end of 2028, which could accelerate market entry if Valo completes its planned stages 1.
- Strong operator interesttailwind
Vertical has signed pre-order arrangements with several operators, including American Airlines, Marubeni and Avolon, indicating market interest, although the pre-orders are not legally binding 1.
- Evolving regulatory requirementsheadwind
Regulators may introduce procedural changes affecting pilot training and operations, which could change the certification timeline and the company's ability to deliver aircraft on schedule 1.
- Reliance on external financingmixed
Capital requirements before commercialization are significant, and if market conditions worsen, access to financing could become harder, potentially forcing the company to reduce spending 1.
Competitive position
Vertical competes in the eVTOL market with other designers pursuing certification, and the source notes it is among the few developers pursuing CAA and EASA certification for a winged aircraft 1. Competition may also come from helicopters and other existing urban transport solutions that the company considers both markets and alternatives 1.
The company's stated advantage lies in its team's experience, which has contributed to certifying over 30 aircraft and propulsion systems, and in partnerships with leading suppliers 1. However, the source does not identify US-listed direct competitors, so detailed comparison remains limited 1.
- Existing helicopter operators
The company targets them as customers and as a competing market, since they can offer similar urban and regional transport services 1.
- Other eVTOL designers pursuing certification
The source says Vertical is one of few designers actively pursuing certification for a winged aircraft, so competition centers on certification and timing 1.
- Airlines and fleet operators
They are both potential customers and possible competitors in intercity transport if they develop their own solutions 1.
- Urban mobility platforms
Ride-hailing platforms are an existing alternative that the company sees as a target market 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Hanwha Aerospace agrees to terminate $318 mil. deals with Vertical AerospaceKorea Times — Business · 03 Aug 2026 · RO
The latest news item in our archive is from 03 Aug 2026; the newest SEC filing is from 02 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report (foreign issuer)02 Nov 2026
- Current report (foreign issuer)22 Oct 2026
- Current report (foreign issuer)21 Oct 2026
- Current report (foreign issuer)16 Oct 2026
- Current report (foreign issuer)07 Oct 2026
- Current report (foreign issuer)05 Oct 2026
- Current report (foreign issuer)02 Oct 2026
- Current report (foreign issuer)24 Sept 2026
- Current report (foreign issuer)21 Sept 2026
- Current report (foreign issuer)18 Sept 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Vertical Aerospace Ltd. · 24 Mar 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.