Eve Holding Inc. (EVEX) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, EVEX scores 31 out of 100, earning a letter grade of E and the verdict "Roarable Strong Sell — Forensic Risk / Avoid." The Fundamental Cash Engine pillar scores 8 of 20, reflecting ROIC of -35% and an FCF yield of 0%; for a prospective investor, this means the business is not currently generating returns on invested capital or free cash flow to support the equity value. The Whale 13F Flow pillar scores 3 of 20 on institutional accumulation and options positioning, indicating weak institutional support in the source data. The Insider Conviction pillar scores 5 of 20 on SEC Form 4 and Congressional PTR cluster flow, signaling limited insider-driven confidence. The Macro Regime Fit pillar scores 5 of 20, with a Beta of 1.0 and sector sensitivity noted, meaning the stock's market sensitivity offers no defensive cushion. The Forensic Balance Sheet pillar scores 10 of 20, reflecting an Altman Z-Score of 2.5, a Piotroski F-Score of 2 of 9, and a Debt/Equity ratio of 1.43. Taken together, the upside drivers are limited to any future reversal in cash generation or institutional interest, which the current pillar scores do not evidence. Valuation tradeoffs are difficult to assess because earnings-based multiples are not available in the source data, and the negative ROIC and zero FCF yield leave little fundamental basis for the current price of $1.62. The verdict suggests a prospective investor should weigh forensic and cash-flow risk heavily before considering the position.

Per the SEC financials, the company reported operating and net losses in each listed period, with margins at 0% for gross, operating, and net per the market data. Per the Roarable RQD rating, ROIC is -35% and the Altman Z-Score is 2.5 with a Piotroski F-Score of 2 of 9. Debt/Equity is 1.43 per the forensic balance sheet pillar. Reported cash rose from $56.4M to $103.2M between FY 2024 and FY 2025 while debt rose from $132.0M to $176.4M.

• Motley Fool (YELLOW, MARKET WIRE): A headline frames EVEX as an Embraer-backed eVTOL stock compared to peers, covering market action and fundamental catalysts.
• Moomoo (YELLOW, MARKET WIRE): An options chain and quotes page for EVEX.
• MarketBeat (YELLOW, MARKET WIRE): A report that the stock price was down 5.7%.
• MarketBeat (YELLOW, MARKET WIRE): A report that the average price target is $5.93.
• Unattributed source (RED, RISK WATCH): A report that EVEX fell 2.90% to $1.64 as shares tested a key support zone.
• Unattributed source (YELLOW, MARKET WIRE): An analysis describing a range-bound price near $1.64 as a potential buy zone.

Per the Butterfly Supply-Chain Graph, no supply-chain links or proprietary signals are present (sector Industrials, industry Aerospace, supply chain NONE). The single RED-flagged item is a risk-watch entry on support-level breakdown.

Analyst consensus rating and price targets are Not available in source data; the analyst_data section is NONE. The news wire references an average price target of $5.93, attributed to a MarketBeat headline, but no analyst data section corroborates it. SEC Form 4 insider, 13F whale, and Congressional trade details are Not available in source data; the holders section is NONE. The RQD pillars reference institutional accumulation and insider/Congressional cluster flow, scoring 3 of 20 and 5 of 20 respectively, but individual transactions are not itemized in the source data.

• What are the company's revenue-generating operations and timeline to commercial revenue, given $0.0M reported revenue across all periods?
• What is the source of the FY 2025 cash increase to $103.2M, and how does it reconcile with the $173.0M negative FCF?
• What are the specific covenant and maturity terms on the $176.4M debt balance?
• Who are the institutional holders and insiders behind the 3 of 20 and 5 of 20 pillar scores?
• What supply-chain relationships, including the Embraer backing referenced in news, exist and are they documented?