Joby Aviation claims to have the most advanced eVTOL aircraft, but lacks profit, commercial flight approval, and significant revenue. In contrast, Lockheed Martin has delivered and sold 220 aircraft this year. Joby, valued at $12.7 billion, has $930 million in cash and potential sales of over $1 billion. However, its stock may not be a wise investment.

Joby’s S4 eVTOL aircraft boasts six electric motors, a top speed of 200 mph, and capacity for a pilot and four passengers. Testing has covered 40,000 miles, with 3 out of 5 FAA certification stages complete. Operations may start in 2026 in the UAE and Saudi Arabia, with production doubling to four planes per month by 2027.

Despite Joby’s potential, its financials raise concerns. With minimal revenue and increasing losses, the company may need to raise more capital. In contrast, Lockheed Martin is profitable, generating $1.6 billion in profit last quarter and boasting a massive $179 billion backlog. The stability of Lockheed makes it a more appealing investment opportunity.

In conclusion, Joby’s future is uncertain, with analysts not expecting positive FCF or net income before 2030-2031. Lockheed Martin, on the other hand, is a reliable choice, already profitable and with significant orders in its backlog. Investors may want to consider established aerospace giants like Lockheed Martin for a safer investment option.

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