What is Archer Aviation's return on invested capital?

Archer Aviation (ACHR) reported return on invested capital of -129.7% in Q1 2026.

How has Archer Aviation's return on invested capital changed year-over-year?

Archer Aviation's return on invested capital increased by 92.4% year-over-year, from -1,702.2% to -129.7%.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Archer Aviation ACHR Return on invested capital

Return on invested capital at other companies

Uber TechnologiesUBER

23.4%+3.5pp

Beta Technologies BETA

-122%—

Joby AviationJOBY

-60.8%-9.1pp

AstronicsATRO

18.3%+13.9pp

Lockheed MartinLMT

24.4%-1.6pp

Loar HoldingsLOAR

6.1%-2.1pp

Other financials

Income statement

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Revenue$1.6M—

Gross profit$300.0K—

Operating income-$254.6M-76.8%

Net income-$217.7M-133%

EPS (diluted)-$0.28-64.7%

Balance sheet

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Cash & equivalents$958.4M-7.6%

Total debt$121.8M+55.6%

Total equity$2.1B+106%

Total assets$2.3B+91.2%

Cash flow

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Operating cash flow-$149.1M-57.6%

CapEx$32.6M+226%

Free cash flow-$181.7M-73.7%

Valuation

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Market cap$4.25B+0.5%

Enterprise value$3.41B+4.9%

P/S2,655.7×—

Profitability

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Gross margin18.8%—

Operating margin-52,493.8%—

Net margin-46,406.3%—

FCF margin-36,800%—

Returns & leverage

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Return on equity-48%-12.4pp

Debt / equity0.1×0.0×

Current ratio18.1×+2.3×

Where this comes from

Calculated from Archer Aviation’s reported figures.

nopat/invested capital=-129.7%

Based on trailing twelve months.

The official record: Archer Aviation’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Archer Aviation's return on invested capital?: Archer Aviation (ACHR) reported return on invested capital of -129.7% in Q1 2026.
How has Archer Aviation's return on invested capital changed year-over-year?: Archer Aviation's return on invested capital increased by 92.4% year-over-year, from -1,702.2% to -129.7%.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.