Joby Aviation, Inc.
JOBY · Consumer Discretionary · $4.3B mkt cap · FY2025 filings · · No moat ·
Doesn't clear the bar
The five investor questions
40
2023–2025 (latest 3 aligned FYs; v3 window cap 5): revenue $1M to $53.4M, increasing; diluted EPS -0.79 to -1.13, decreasing. Latest-filed diluted EPS remains usable for Business Trend, but an integer share-count change lacks enough evidence to confirm a comparable EPS basis; valuation growth therefore stays at 0%.
—
Not enough years of gross-margin data to score pricing power.
0
Median ROIC -48.6%, above the 12% hurdle in 0% of years.
55
Net cash position — no leverage risk.
24
Owner earnings changed trend unclear over up to the ten most recent annual observations.
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
Price vs. value if growth stopped today
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
Above value if growth stopped todayBelow value if growth stopped today
- Not reported
- Unavailable — insufficient owner-earnings data
- Unavailable — insufficient growth-model data
- $4.66
- No price data
This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.
Among the current top-score group, the median current price is 243% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.
Score records captured Oct 18, 2026.
Exactly which 50 companies?
FTNT, IBEX, META, MEDP, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, CPRT, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, DECK, MORN, INTU, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE
Missing a usable price or zero-growth estimate: ANF.
Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
7 years of fundamentals
The business, in plain English
It earned −48.6% on invested capital in the latest filed year, FY2025. Across the full 5-year measurable filed record, median ROIC was −48.6%. Over the v3 recent window (5 measurable filed years), median ROIC was −48.6%. The Returns on Capital filter above scores it 0/100.
JOBY's latest filed year, FY2025, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.
This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.
Not disclosed in JOBY’s filings for these years — we don’t estimate it.
Exact FY and FY-1 financing invested-capital inputs are required.
Exact FY and FY-1 financing invested-capital inputs are required.
The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.
Visual explainers
The filing-backed explainer service is temporarily unavailable, so no partial or guessed chart is shown.
Moat Score history
Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
- Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
- Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
- Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Insider activity
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.
Records still being gathered — partial as of retrieval Oct 19, 2026.
Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (60 versus 20). The filing codes alone do not establish that every such row arose from a compensation plan.
Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.
| Insider | Shares owned after | Date | Filing detail | ||||
|---|---|---|---|---|---|---|---|
| DeHoff KateSee Remarks | Open-market or private sale (S)Table I · Disposed · Common Stock | 8,279 | $5.09 | $42,140 | 196,964 | Oct 13, 2026 | 1 filed lot
|
| Allison EricChief Product Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 27,593 | $5.09 | $140,448 | 745,120 | Oct 13, 2026 | 1 filed lot
|
| DeHoff KateSee Remarks | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event | 16,065 | —Exercise or conversion of derivative security (M) | — | 205,243 | Oct 12, 2026 | 1 filed lot
|
| DeHoff KateSee Remarks | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 1 paired event | 16,065 | —Exercise or conversion of derivative security (M) | — | 16,065 | Oct 12, 2026 | 1 filed lot
|
| Allison EricChief Product Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event | 53,549 | —Exercise or conversion of derivative security (M) | — | 772,713 | Oct 12, 2026 | 1 filed lot
|
| Allison EricChief Product Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 1 paired event | 53,549 | —Exercise or conversion of derivative security (M) | — | 53,549 | Oct 12, 2026 | 1 filed lot
|
| Sciarra Paul CahillDirector | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 2,773 | —Grant, award, or other acquisition (A) | — | 166,744 | Oct 5, 2026 | 1 filed lot
|
| Thompson Michael N. Jr.Director | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 2,971 | —Grant, award, or other acquisition (A) | — | 1,580,623 | Oct 5, 2026 | 1 filed lot
|
| Bowles GregoryChief Policy Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 5,302 | $5.78 | $30,646 | 193,704 | Oct 5, 2026 | 1 filed lot
|
| Ogawa TetsuoDirector | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 2,773 | —Grant, award, or other acquisition (A) | — | 89,693 | Oct 5, 2026 | 1 filed lot
|
| Saluja DipenderDirector | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 2,971 | —Grant, award, or other acquisition (A) | — | 196,433 | Oct 5, 2026 | 1 filed lot
|
| Bevirt JoeBenDirector, CEO and Chief Architect | Open-market or private sale (S)Table I · Disposed · Common Stock | 15,789 | $5.95 | $93,945 | 254,519 | Oct 2, 2026 | 1 filed lot
|
| Allison EricChief Product Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 9,331 | $5.95 | $55,519 | 719,164 | Oct 2, 2026 | 1 filed lot
|
| Novikov SergeySee Remarks | Open-market or private sale (S)Table I · Disposed · Common Stock | 2,965 | $5.95 | $17,642 | 48,681 | Oct 2, 2026 | 1 filed lot
|
| Brumana RodrigoChief Financial Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 2,601 | $5.95 | $15,476 | 113,275 | Oct 2, 2026 | 1 filed lot
|
| Bowles GregoryChief Policy Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 7,663 | $5.95 | $45,595 | 199,006 | Oct 2, 2026 | 1 filed lot
|
| Simi Bonny WPresident of Operations | Open-market or private sale (S)Table I · Disposed · Common Stock | 10,890 | $5.95 | $64,796 | 241,923 | Oct 2, 2026 | 1 filed lot
|
| DeHoff KateSee Remarks | Open-market or private sale (S)Table I · Disposed · Common Stock | 9,575 | $5.95 | $56,971 | 189,178 | Oct 2, 2026 | 1 filed lot
|
| Sciarra Paul CahillDirector | Open-market or private sale (S)Table I · Disposed · Common Stock | 62,500 | $6.09 | $380,625 | 55,640,557 | Oct 2, 2026 | 1 filed lot
|
| Bevirt JoeBenDirector, CEO and Chief Architect | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events | 30,637 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 2 filed lots
|
| Bevirt JoeBenDirector, CEO and Chief Architect | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 2 paired events | 30,637 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 2 filed lots
|
| Allison EricChief Product Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 3 paired events | 18,099 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 3 filed lots
|
| Allison EricChief Product Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 3 paired events | 18,099 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 3 filed lots
|
| Novikov SergeySee Remarks | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 8 paired events | 8,114 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 8 filed lots
|
| Novikov SergeySee Remarks | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 8 paired events | 8,114 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 8 filed lots
|
| Brumana RodrigoChief Financial Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event | 5,045 | —Exercise or conversion of derivative security (M) | — | 115,876 | Oct 1, 2026 | 1 filed lot
|
| Brumana RodrigoChief Financial Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 1 paired event | 5,045 | —Exercise or conversion of derivative security (M) | — | 85,772 | Oct 1, 2026 | 1 filed lot
|
| Bowles GregoryChief Policy Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 3 paired events | 16,499 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 3 filed lots
|
| Bowles GregoryChief Policy Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 3 paired events | 16,499 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 3 filed lots
|
| Simi Bonny WPresident of Operations | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 3 paired events | 21,126 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 3 filed lots
|
| Simi Bonny WPresident of Operations | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 3 paired events | 21,126 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 3 filed lots
|
| DeHoff KateSee Remarks | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 3 paired events | 18,574 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 3 filed lots
|
| DeHoff KateSee Remarks | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 3 paired events | 18,574 | —Exercise or conversion of derivative security (M) | — | See lot detail | Oct 1, 2026 | 3 filed lots
|
| Bowles GregoryChief Policy Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event | 4,322 | $0.87 | $3,760 | 196,308 | Sep 21, 2026 | 1 filed lot
|
| Bowles GregoryChief Policy Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 6,138 | $6.35 | $38,976 | 190,170 | Sep 21, 2026 | 1 filed lot
|
| Bowles GregoryChief Policy Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Stock Options · 1 paired event | 4,322 | —Exercise or conversion of derivative security (M) | — | 22,193 | Sep 21, 2026 | 1 filed lot
|
| Bevirt JoeBenDirector, CEO and Chief Architect | Open-market or private sale (S)Table I · Disposed · Common Stock | 606,667 | $6.19 | $3,755,269 | 57,207,377 | Sep 15, 2026 | 1 filed lot
|
| Evans AichaDirector | Gift (G)Table I · Disposed · Common Stock | 24,606 | —Gift (G) | — | 112,179 | Sep 4, 2026 | 1 filed lot
|
| Evans AichaDirector | Gift (G)Table I · Acquired · Common Stock | 24,606 | —Gift (G) | — | 24,606 | Sep 4, 2026 | 1 filed lot
|
| Brumana RodrigoChief Financial Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 8,898 | $6.89 | $61,307 | 110,831 | Sep 3, 2026 | 1 filed lot
|
| Sciarra Paul CahillDirector | Open-market or private sale (S)Table I · Disposed · Common Stock | 62,500 | $6.68 | $417,500 | 55,703,057 | Sep 2, 2026 | 1 filed lot
|
| Brumana RodrigoChief Financial Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 37,831 | $6.77 | $256,116 | 119,729 | Sep 2, 2026 | 1 filed lot
|
| Brumana RodrigoChief Financial Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event | 73,421 | —Exercise or conversion of derivative security (M) | — | 157,560 | Sep 1, 2026 | 1 filed lot
|
| Brumana RodrigoChief Financial Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 1 paired event | 73,421 | —Exercise or conversion of derivative security (M) | — | 807,636 | Sep 1, 2026 | 1 filed lot
|
| Bowles GregoryChief Policy Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 4,575 | $7.23 | $33,077 | 191,986 | Aug 25, 2026 | 1 filed lot
|
| Bowles GregoryChief Policy Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 3,531 | $7.34 | $25,918 | 196,561 | Aug 24, 2026 | 1 filed lot
|
| Bowles GregoryChief Policy Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event | 11,156 | —Exercise or conversion of derivative security (M) | — | 200,092 | Aug 21, 2026 | 1 filed lot
|
| Bowles GregoryChief Policy Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units (RSUs) · 1 paired event | 11,156 | —Exercise or conversion of derivative security (M) | — | 22,312 | Aug 21, 2026 | 1 filed lot
|
| Bevirt JoeBenDirector, CEO and Chief Architect | Open-market or private sale (S)Table I · Disposed · Common Stock | 596,667 | $7.87 | $4,695,769 | 57,814,044 | Aug 17, 2026 | 1 filed lot
|
| Sciarra Paul CahillDirector | Open-market or private sale (S)Table I · Disposed · Common Stock | 62,500 | $7.96 | $497,500 | 55,765,557 | Aug 13, 2026 | 1 filed lot
|
Source-event as of . Retrieved .
Track record
How Joby Aviation, Inc.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.
Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year
How to read this: each dot is what the engine would have scored JOBY on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.
Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.
What followed, in the years it rated Wide
In the reconstructed history shown, JOBY did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.
Consumer Discretionary context
#397 of 487 scored Consumer Discretionary companies, ranked by Moat Score.
Nearest peers by Moat Score
- #395GRNQ Greenpro Capital Corp.29.8 out of 100, No moatNo moat
- #396SNFI STARK NOVUS FINANCIAL INC.29.8 out of 100, No moatNo moat
- #398BTBD BT BRANDS, INC.29.7 out of 100, No moatNo moat
- #399PK Park Hotels & Resorts Inc.29.5 out of 100, No moatNo moat
Compare JOBY with its nearest peers →All Consumer Discretionary companies on the Index →
Common questions about JOBY
- Does Joby Aviation, Inc. have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores Joby Aviation, Inc. (JOBY) 29.8 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 40, pricing power not measurable from the filings, returns on capital 0, balance-sheet safety 55, capital allocation 24.
- How has JOBY's Moat Score changed over time?
- The record logs 31 readings since Jul 17, 2026; the latest reads 29.8 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.