Joby Aviation vs Planet Labs
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The short version
- Planet Labs is the larger business, with $308M of revenue in fiscal 2026 against $53.4M for Joby Aviation, about 5.8 times as much.
- Joby Aviation grew revenue faster (39,183.1%, against 25.9%).
- Planet Labs kept more of each dollar of sales as operating profit (β30.9% operating margin, against β1,346.9%).
- Planet Labs turned more of its sales into free cash flow (18.7% FCF margin, against β1,055.3%).
| Latest fiscal year | JOBY Β· FY25 | PL Β· FY26 |
|---|---|---|
| Size | ||
| Market cap | $4.6B | $4.8B |
| Revenue | $53.4M | $308M |
| Free cash flow | β$564M | $57.7M |
| Net income | β$930M | β$247M |
| Growth | ||
| Revenue growth | 39,183.1% | 25.9% |
| 5-year growth | β | 22.1% |
| Share count change | 18.1% | 5.4% |
| Profitability | ||
| Gross margin | β | 56.1% |
| Operating margin | β1,346.9% | β30.9% |
| Net margin | β1,740.5% | β80.2% |
| FCF margin | β1,055.3% | 18.7% |
| Return on capital | β | β70.1% |
| Return on equity | β80.1% | β78.4% |
| Balance sheet | ||
| Net debt | β | β$193M |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | β | 3 |
Revenue
FY20
JOBY β
PL $95.7M
FY21
JOBY $0.0M
PL $113M
FY22
JOBY $0.0M
PL $131M
FY23
JOBY $1.0M
PL $191M
FY24
JOBY $0.1M
PL $221M
FY25
JOBY $53.4M
PL $244M
FY26
JOBY β
PL $308M
JOBY
PL
Operating margin
FY20
JOBY β
PL β111.2%
FY21
JOBY β
PL β77.3%
FY22
JOBY β
PL β97.6%
FY23
JOBY β45,745.5%
PL β91.9%
FY24
JOBY β438,789.7%
PL β76.9%
FY25
JOBY β1,346.9%
PL β47.5%
FY26
JOBY β
PL β30.9%
JOBY
PL
Free cash flow
FY20
JOBY β$130M
PL β$50.4M
FY21
JOBY β$228M
PL β$30.1M
FY22
JOBY β$291M
PL β$52.5M
FY23
JOBY β$344M
PL β$84.4M
FY24
JOBY β$477M
PL β$88.7M
FY25
JOBY β$564M
PL β$58.7M
FY26
JOBY β
PL $57.7M
JOBY
PL
Return on capital
FY20
JOBY β
PL β
FY21
JOBY β
PL β
FY22
JOBY β
PL β70.6%
FY23
JOBY β
PL β85.5%
FY24
JOBY β
PL β69.4%
FY25
JOBY β
PL β41.9%
FY26
JOBY β
PL β70.1%
JOBY
PL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.