Ayro (NasdaqCM:AYRO) - Share price, News & Analysis

AYRO fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	2/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

AYRO Stock Overview

Ayro, Inc. designs and manufactures electric vehicles for closed campus mobility, urban and community transport, local on-demand and last mile delivery, and government use.

Rewards

Revenue is forecast to grow 120.44% per year

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Shareholders have been diluted in the past year

Does not have meaningful revenue ($3M)

Does not have a meaningful market cap ($40M)

Ayro Competitors

Phoenix Motor

NasdaqCM:PEV

US$74.7m

Envirotech Vehicles

NasdaqCM:EVTV

US$77.7m

Electrameccanica Vehicles

NasdaqCM:SOLO

US$192.6m

Cenntro Electric Group

NasdaqCM:CENN

US$412.8m

Price History & Performance

Summary of all time highs, changes and price drops for Ayro
Historical stock prices
Current Share Price	US$1.08
52 Week High	US$4.45
52 Week Low	US$0.73
Beta	3.94
1 Month Change	15.94%
3 Month Change	39.30%
1 Year Change	-74.41%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-64.59%

Recent News & Updates

Jul 05

We're Keeping An Eye On Ayro's (NASDAQ:AYRO) Cash Burn Rate

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining...

Mar 22

Is Ayro (NASDAQ:AYRO) In A Good Position To Invest In Growth?

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...

Shareholder Returns

	AYRO	US Auto	US Market
7D	13.3%	-1.1%	1.1%
1Y	-74.4%	5.6%	-13.0%

Return vs Industry: AYRO underperformed the US Auto industry which returned 5.6% over the past year.

Return vs Market: AYRO underperformed the US Market which returned -13% over the past year.

Price Volatility

Is AYRO's price volatile compared to industry and market?
AYRO volatility
AYRO Average Weekly Movement	9.8%
Auto Industry Average Movement	12.6%
Market Average Movement	7.9%
10% most volatile stocks in US Market	17.1%
10% least volatile stocks in US Market	3.2%

Stable Share Price: AYRO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: AYRO's weekly volatility (10%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2017	32	Tom Wittenschlaeger	https://www.ayro.com

Ayro, Inc. designs and manufactures electric vehicles for closed campus mobility, urban and community transport, local on-demand and last mile delivery, and government use. The company provides four-wheeled purpose-built electric vehicles for universities, business and medical campuses, last mile delivery services, and food service providers. It also offers AYRO vehicles to internal combustion engine vehicles for light duty uses, including low-speed logistics, maintenance, and cargo services; and Club Car 411 for low-speed logistics and cargo services for campus.

Ayro Fundamentals Summary

How do Ayro's earnings and revenue compare to its market cap?
AYRO fundamental statistics
Market Cap	US$39.98m
Earnings (TTM)	-US$32.02m
Revenue (TTM)	US$2.92m

13.7x

P/S Ratio

-1.2x

P/E Ratio

Is AYRO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
AYRO income statement (TTM)
Revenue	US$2.92m
Cost of Revenue	US$5.31m
Gross Profit	-US$2.39m
Other Expenses	US$29.64m
Earnings	-US$32.02m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 11, 2022

Earnings per share (EPS)	-0.87
Gross Margin	-81.66%
Net Profit Margin	-1,096.13%
Debt/Equity Ratio	0%

How did AYRO perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is AYRO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AYRO?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for AYRO. This is calculated by dividing AYRO's market cap by their current preferred multiple.
What is AYRO's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$39.98m

AYRO key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does AYRO's PS Ratio compare to its peers?

AYRO PS Ratio vs Peers

The above table shows the PS ratio for AYRO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	41.4x
PEV Phoenix Motor	23.5x	n/a	US$74.7m
EVTV Envirotech Vehicles	29x	55.8%	US$77.7m
SOLO Electrameccanica Vehicles	65.2x	74.5%	US$192.6m
CENN Cenntro Electric Group	46.3x	n/a	US$412.8m
AYRO Ayro	13.7x	120.4%	US$40.0m

Price-To-Sales vs Peers: AYRO is good value based on its Price-To-Sales Ratio (13.7x) compared to the peer average (41.4x).

Price to Earnings Ratio vs Industry

How does AYRO's PE Ratio compare vs other companies in the US Auto Industry?

Price-To-Sales vs Industry: AYRO is expensive based on its Price-To-Sales Ratio (13.7x) compared to the US Auto industry average (13.7x)

Price to Sales Ratio vs Fair Ratio

What is AYRO's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AYRO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	13.7x
Fair PS Ratio	3.5x

Price-To-Sales vs Fair Ratio: AYRO is expensive based on its Price-To-Sales Ratio (13.7x) compared to the estimated Fair Price-To-Sales Ratio (3.5x).

Share Price vs Fair Value

What is the Fair Price of AYRO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate AYRO's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate AYRO's fair value for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Ayro forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

50.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: AYRO is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: AYRO is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: AYRO is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: AYRO's revenue (120.4% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: AYRO's revenue (120.4% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if AYRO's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Ayro performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-53.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AYRO is currently unprofitable.

Growing Profit Margin: AYRO is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: AYRO is unprofitable, and losses have increased over the past 5 years at a rate of 53.5% per year.

Accelerating Growth: Unable to compare AYRO's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: AYRO is unprofitable, making it difficult to compare its past year earnings growth to the Auto industry (46%).

Return on Equity

High ROE: AYRO has a negative Return on Equity (-46.1%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Ayro's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: AYRO's short term assets ($71.1M) exceed its short term liabilities ($2.8M).

Long Term Liabilities: AYRO's short term assets ($71.1M) exceed its long term liabilities ($820.5K).

Debt to Equity History and Analysis

Debt Level: AYRO is debt free.

Reducing Debt: AYRO had no debt 5 years ago.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: AYRO has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: AYRO has sufficient cash runway for 1.3 years if free cash flow continues to reduce at historical rates of 59.7% each year.

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Dividend

What is Ayro current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate AYRO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate AYRO's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AYRO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AYRO's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as AYRO has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

0.9yrs

Average management tenure

CEO

Tom Wittenschlaeger (65 yo)

0.92

Tenure

US$1,375,633

Compensation

Mr. Thomas M. Wittenschlaeger, also known as Tom, serves as Chief Executive Officer at Ayro, Inc. since September 23, 2021 and has been its Director since December 14, 2021. Mr. Wittenschlaeger served as C...

CEO Compensation Analysis

Compensation vs Market: Tom's total compensation ($USD1.38M) is above average for companies of similar size in the US market ($USD763.69K).

Compensation vs Earnings: Insufficient data to compare Tom's compensation with company performance.

Leadership Team

Experienced Management: AYRO's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.

Board Members

Experienced Board: AYRO's board of directors are considered experienced (4.5 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: AYRO insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.1%.

Data	Last Updated (UTC time)
Company Analysis	2022/08/09 00:00
End of Day Share Price	2022/08/09 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31