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BETA Technologies

BETA
23
Aerospace & Defense · Industrials
Price
$24.74
-0.74 (-2.90%)
Market Cap
$5.50B
Winston Score
23
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Share count rising — dilution

+2.4% over 2y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 223.8M (2023) → 229.2M (2025)

Winston Score History

The full picture

BETA Technologies builds electric aircraft and the charging systems needed to power them. The company focuses on two main products: the ALIA, a fixed-wing electric aircraft designed for cargo and passenger transport, and a network of charging stations called CHARGE. Its main customers include UPS, United Therapeutics, and other companies looking to move goods or people by air without burning jet fuel.

BETA makes money by selling aircraft and charging infrastructure, and it also earns revenue through service and support contracts. The company is based in Vermont and operates primarily in the United States, though it is expanding its charging network across North America. Its integrated approach — building both the plane and the charger — gives it some advantage over competitors who only focus on one side of the equation. The biggest risk is that BETA is spending far more money than it earns right now, and it will need continued outside funding until electric aviation reaches commercial scale.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+88.3% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-60.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$260M/ year

Rising (+26% vs prior year)

729.7% of revenue

182.4x the sector average (4%)

Investing heavily in future products and technology

Insider Activity

48.6%ownership

Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~3 years

$1.5B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$1.5B cash & investments at current burn rate

Strong grower

BETA Technologies is growing revenue at 88% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
54.7%
Healthy — 54.7% gross margin
Profit after running costs
Operating Margin
-1078.7%
Losing money on operations — -1078.7%
Return on the money invested
ROCE
-28.7%
Weak — -28.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
N/A
Data not available
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
0/3 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-940.0%
Burning cash (-940.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.09
Conservative — low debt load (0.09)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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