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Side-by-side financial comparison of Electrovaya Inc. (ELVA) and XCF Global, Inc. (SAFX). Click either name above to swap in a different company.

Electrovaya Inc. is the larger business by last-quarter revenue ($17.1M vs $9.6M, roughly 1.8× XCF Global, Inc.). Electrovaya Inc. runs the higher net margin — 5.3% vs -131.0%, a 136.3% gap on every dollar of revenue.

Electrovaya Inc. is a developer and manufacturer of Lithium-ion batteries and battery systems for the automotive, warehousing, autonomous guided vehicles, and energy storage applications. The company has operations in NY State and based in Ontario, Canada.

ELVA vs SAFX — Head-to-Head

Bigger by revenue
ELVA
ELVA
1.8× larger
ELVA
$17.1M
$9.6M
SAFX
Higher net margin
ELVA
ELVA
136.3% more per $
ELVA
5.3%
-131.0%
SAFX

Income Statement — Q3 FY2025 vs Q3 FY2025

Metric
ELVA
ELVA
SAFX
SAFX
Revenue
$17.1M
$9.6M
Net Profit
$907.0K
$-12.5M
Gross Margin
30.8%
35.0%
Operating Margin
-90.3%
Net Margin
5.3%
-131.0%
Revenue YoY
Net Profit YoY
EPS (diluted)
$0.02
$-0.08

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ELVA
ELVA
SAFX
SAFX
Cash + ST InvestmentsLiquidity on hand
$1.3M
$879.2K
Total DebtLower is stronger
$122.8M
Stockholders' EquityBook value
$22.3M
$5.2M
Total Assets
$53.9M
$408.7M
Debt / EquityLower = less leverage
23.55×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ELVA
ELVA
SAFX
SAFX
Q3 25
$879.2K
Q2 25
$1.3M
Total Debt
ELVA
ELVA
SAFX
SAFX
Q3 25
$122.8M
Q2 25
Stockholders' Equity
ELVA
ELVA
SAFX
SAFX
Q3 25
$5.2M
Q2 25
$22.3M
Total Assets
ELVA
ELVA
SAFX
SAFX
Q3 25
$408.7M
Q2 25
$53.9M
Debt / Equity
ELVA
ELVA
SAFX
SAFX
Q3 25
23.55×
Q2 25

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ELVA
ELVA
SAFX
SAFX
Operating Cash FlowLast quarter
$-7.3M
$-13.8M
Free Cash FlowOCF − Capex
$-9.7M
FCF MarginFCF / Revenue
-56.8%
Capex IntensityCapex / Revenue
14.1%
Cash ConversionOCF / Net Profit
-8.06×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ELVA
ELVA
SAFX
SAFX
Q3 25
$-13.8M
Q2 25
$-7.3M
Free Cash Flow
ELVA
ELVA
SAFX
SAFX
Q3 25
Q2 25
$-9.7M
FCF Margin
ELVA
ELVA
SAFX
SAFX
Q3 25
Q2 25
-56.8%
Capex Intensity
ELVA
ELVA
SAFX
SAFX
Q3 25
Q2 25
14.1%
Cash Conversion
ELVA
ELVA
SAFX
SAFX
Q3 25
Q2 25
-8.06×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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