YouTube · Q2 2026 · 2026-07-18
AUR · NasdaqGS
Aurora Innovation, Inc.
Auto Parts · United States
USD 4.601.1% daily changeQuote 2026-11-11 · USD
- Market cap (USD)
- US$9.29B
- Trailing P/E
- —
- Forward P/E
- —
- Quarterly revenue growth
- 200.0%
- Trailing net margin
- 0.0%
- Indicated dividend yield
- —
Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Company background
Aurora Innovation, Inc. engages in the self-driving technology business in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate various vehicle types and applications. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.
Company websiteQ3 2026
Go beyond the headline.
Q3 2026 REPORT HIGHLIGHTS
What’s changed for AUR
Aurora cut its 2026 revenue outlook as truck production slipped. We test the cash runway, potential dilution and valuation of the continuing AUR common shares.
The schedule moved, not just the share price.
Management says production is about six weeks behind its prior plan. The 200-truck milestone moves from year-end to the end of February, and full-year revenue falls to about $9 million.
A billion-dollar financing window is not a billion dollars in the bank.
The October 28 prospectus resets ATM availability to $1 billion. At a constant $4.41, full utilization would add roughly 227 million shares before fees; actual proceeds, price and timing are unknown.
Count both common-share classes.
The October 21 cover-page count is 2.020 billion Class A plus Class B shares. At $4.41 that implies $8.91 billion of common equity value, above the provider’s $7.52 billion field.
Commercial progress is real, but commitments have different strength.
More than 20 trucks are built and entering the fleet; the Charger 500-truck MOU is explicitly nonbinding. Neither is equivalent to 500 producing trucks or booked backlog.
Our call is price-sensitive.
Three disclosed valuation routes center near $2.50. We need repeatable output, a funded path and binding customer conversion before paying for the optimistic long-term case.
Comparable businesses
AUR peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | AURAurora Innovation, Inc.Snapshot 2026-11-11Financial period: 2026-09-30 | ALVAutoliv, Inc.Snapshot 2026-11-11Financial period: 2026-09-30 | MBLYMobileye Global Inc.Snapshot 2026-11-11Financial period: 2026-09-26 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$9.29B | US$8.74B | US$4.91B | US$6.83Bn=2 |
| Forward P/EProvider forward earnings estimate | — | 10.58x | 11.86x | 11.22xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | — | 6.77x | — | — |
| Revenue growthLatest quarter vs prior-year quarter | 200.0% | -0.5% | -2.4% | -1.4%n=2 |
| Operating marginLatest reported quarter | -14,357.1% | 10.2% | -18.0% | -3.9%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | -4.9% | 8.9% | 13.7% | 11.3%n=2 |
| Net debt / EBITDANet debt / trailing EBITDA | — | 1.21x | — | — |
| Debt / equityTotal debt / positive book equity | 0.04x | 0.85x | 0.01x | 0.43xn=2 |
| Trailing P/ETrailing twelve-month earnings | — | 14.59x | — | — |
| Price / bookPrice / positive book equity per share | 5.16x | 3.55x | 0.60x | 2.08xn=2 |
| EV / salesEnterprise value / trailing revenue | 1,177.01x | 0.96x | 1.69x | 1.32xn=2 |
| Earnings growthLatest quarter vs prior-year quarter | — | -6.6% | — | — |
| Gross marginTrailing twelve months | 0.0% | 19.2% | 48.6% | 33.9%n=2 |
| Net marginTrailing twelve months | 0.0% | 5.6% | -201.2% | -97.8%n=2 |
| Return on equityProvider trailing return; positive equity only | -45.7% | 24.8% | -40.0% | -7.6%n=2 |
| Free cash flow marginTrailing free cash flow / revenue | -6,501.8% | 7.0% | 33.5% | 20.3%n=2 |
| Dividend yieldIndicated annual dividend / price | — | 3.3% | — | — |
| Earnings payoutProvider trailing dividend payout | — | 41.8% | — | — |
| Current ratioCurrent assets / current liabilities | 9.68x | 1.02x | 4.44x | 2.73xn=2 |
| BetaProvider historical market sensitivity | 2.87 | 1.37 | 1.29 | 1.33n=2 |
YouTube · Q2 2026 · 2026-07-18
YouTube · Q2 2026 · 2026-07-25
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for AUR
Q3 20262026-11-02
FREE RESEARCH PACKET · Q3 2026
AUR: A Six-Week Delay Meets a $1 Billion Share-Sale Window
Aurora cut its 2026 revenue outlook as truck production slipped. We test the cash runway, potential dilution and valuation of the continuing AUR common shares.
Research published October 30, 2026 · Download original report
Read Research PacketAUR Stock: Revenue Outlook Cut 40% — Who Funds the Delay? | Q3 2026 Earnings
Presentation · 2026-11-02 · YouTube
Q2 20262026-07-30
Aurora Innovation (AUR): 200 Driverless Trucks — And It Needs 6,000 To Break Even
Presentation · 2026-07-30 · YouTube
Short takes Q2 2026
AUR: $11.9B for 440,000 Driverless Miles? #shorts
Watch Short on YouTube