Vertical Aerospace Ltd. (EVTL)

NYSE: EVTL · Aircraft · Bristol, GB · filing with the SEC since 2021

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Grade4.5

◀ Past 5.8● Present 2.7▶ Future 5.3

4 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Vertical Aerospace Ltd.

Nine metrics read from its own filings, by tense

Headline grade

4.5/10

◀ Past5.830% of the headline

● Present2.740% of the headline

▶ Future5.330% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 5 read as filed from the record and 4 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.8/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

7.3/10

Has it survived what it has been through?

No warning events in its filings since 2021.

weight 33% of this tense · 73rd percentile among 15 sector filers · read for itself

From the record

Vertical Aerospace Ltd.'s filings since 2021 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

6.7/10

What has it actually done, year after year?

+37.3% a year over 3 filed years; profitable in 0 of 3.

weight 45% of this tense · 67th percentile among 10 sector filers · read for its customers

From the record

Vertical Aerospace Ltd.'s 3 filed years say what it did: revenue went from GBP 70 thousand in fiscal 2019 to GBP 132 thousand in fiscal 2021, up 37.3% a year; it rose in 2 of 2 years; it never fell from a peak; net income was positive in 0 of 3 of those years (its annual reports).

What it rests on

revenue growth over the filed span37.3%top 31% of its family
the share of years revenue rosetop 17% of its family
the share of filed years with a profitbottom 35% of its family
the deepest fall from a revenue peak0.0%top 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

1.8/10

How has it treated the people who own it?

SI estimate 1.8/10, confidence 35 of 100 (one part).

weight 22% of this tense · 18th percentile among 14 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 18% of 14 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 14 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Vertical Aerospace Ltd.'s shareholder treatment is put at 1.8 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 18% of 14 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

2.7/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

0.7/10

Is it financially healthy right now?

Leverage 215%: owes 215¢ per asset dollar.

weight 45% of this tense · 7th percentile among 14 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Vertical Aerospace Ltd.'s shareholders' equity was below zero, so the profit on it is not read. Leverage: it owed about 215 cents per dollar of assets, and net share issuance: its share count grew 526.0% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 4% of its family
the share count against the year beforebottom 11% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

4.4/10

How strong is its position in its industry?

bottom 44% of 12 in its family; net margin -185775.8%.

weight 33% of this tense · 44th percentile among 12 sector filers · read for its customers

From the record

Vertical Aerospace Ltd.'s standing among 12 graded names in its industry family: revenue of GBP 132 thousand in fiscal 2021 is not ranked by size, since the family reports in another currency; a net margin of -185775.8% ranks in the bottom 13%; revenue growth of 37.3% a year over the last 2 filed years ranks in the top 25% (its annual reports).

What it rests on

net margin-185775.8%bottom 13% of its family
three-year revenue growth37.3%top 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

4.4/10

What are the people in charge doing?

SI estimate 4.4/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 10 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 10 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 10 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Vertical Aerospace Ltd.'s leadership is put at 4.4 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 10 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.3/1030% of the headline grade · 1 of 3 filed, 2 estimated

Room to expand

SI estimate

6.5/10

How much room does it have to grow?

SI estimate 6.5/10, confidence 35 of 100 (one part).

weight 45% of this tense · 65th percentile among 14 sector filers · read for itself

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, cash less debt against assets, which ranks in the top 35% of 14 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
What the record cannot read: The record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
How it was reasoned: one part: cash less debt against assets, the one part on file, ranked among 14 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Vertical Aerospace Ltd.'s room to expand is put at 6.5 of 10 with a confidence of 35 of 100, because read from one part only, cash less debt against assets, which ranks in the top 35% of 14 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue. A filing that carries the missing parts replaces this estimate with the filed reading.

Growth drivers

as filed

3.5/10

What could actually drive growth from here?

bottom 35% of 10 in its family for growth drivers.

weight 33% of this tense · 35th percentile among 10 sector filers · read for its customers

From the record

Vertical Aerospace Ltd.'s growth drivers, from the filed years to fiscal 2021: revenue grew 37.3% a year over the last three filed years against 37.3% over all 3, speeding up (top 50% of its family); the newest year grew 51.8% (top 50%); research spending grew 13.6% a year (bottom 25%); capital spending grew -41.3% a year (bottom 15%) (its annual reports). Vertical Aerospace Ltd. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span+0.0 points a yeartop 50% of its family
the newest year's revenue growth51.8%top 50% of its family
three-year growth of research spending13.6%bottom 25% of its family
three-year growth of capital spending-41.3%bottom 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

SI estimate

5.7/10

Did its newest year beat what its own record pointed to?

SI estimate 5.7/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 6 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 6 members with one.
What the record cannot read: The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned: family median, 6 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Vertical Aerospace Ltd.'s expectations vs reality is put at 5.7 of 10 with a confidence of 20 of 100, because the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 6 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton EVTL · research, not advice