Embraer S.A. (EMBJ) Stock Price & How to Invest

Embraer S.A. is a global aerospace company headquartered in Sao Paulo that designs and builds aircraft across four reported segments. Commercial Aviation covers the E1 and E2 families of jets up to about 150 seats, where Embraer sits behind Airbus and Boeing but effectively owns the sub-150-seat category. Executive Aviation sells the light Phenom and midsize Praetor business jets. Defense and Security builds the C-390/KC-390 Millennium multi-mission transport and the A-29 Super Tucano light attack and trainer aircraft. Services and Support is the aftermarket arm covering maintenance, parts pooling and engine overhaul, and it carries the highest margin of the four. A smaller Others segment holds agricultural aviation, the Tempest cyber unit and a landing-gear business, and the majority-owned Eve Holding eVTOL venture is consolidated but carved out of guidance. Embraer delivered 244 aircraft in 2025 on revenue of ~$7.58 billion and has shipped more than 9,000 aircraft since 1969.

The investment picture is a demand-rich company mid-ramp. Backlog has set seven consecutive records and reached ~$34.5 billion in 2Q26, with Commercial Aviation running a book-to-bill near 3x on the E175 and E2 platforms and Defense and Security backlog up ~42% year over year after the UAE C-390 agreement. Management guides 2026 to ~$8.2 billion to ~$8.5 billion of revenue, an adjusted EBIT margin of ~8.7% to ~9.3% that already embeds 10% US import tariffs, and free cash flow of ~$200 million or better. The catch is timing and cost: deliveries are heavily back-half weighted, first-quarter free cash flow was ~-$447 million as inventory built ahead of shipments, and the Commercial Aviation segment still ran a negative EBIT margin at low quarterly volume. At ~$73 per ADS and a ~$12.9 billion market value, the stock trades near ~40x trailing earnings and ~23x forward, which prices in a good deal of the ramp.

Deliveries are concentrated in the back half of the year, so a supply chain slip on engines or structures in the fourth quarter can move the full-year result materially, and Embraer has limited room to catch up once a quarter is lost. Commercial Aviation still produced a negative adjusted EBIT margin in 1Q26 at low volume, meaning the segment's economics only work at scale. Free cash flow swings hard within the year: stand-alone net cash went from ~+$109 million at the end of 2025 to ~-$530 million at 1Q26 as inventory built, and the full-year target of ~$200 million depends on shipping the second-half aircraft. US tariff policy on Brazilian-built aircraft is outside the company's control and is baked into guidance at a 10% assumption. The Eve eVTOL venture consumes cash with no revenue, and at roughly 40x trailing earnings the shares leave little cushion if any of the above slips.

15 analysts publish price targets on EMBJ, averaging $80.80 against a $73.01 price as of August 2026, or +10.7%. The published targets run from $65.00 to $97.00, a moderate spread, and the ratings split 14 buy, 1 hold, 0 sell. Over the last six months there has been 1 raise and 1 cut among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full EMBJ forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Embraer S.A.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Converting a record backlog into deliveries. Backlog reached ~$34.5 billion in 2Q26, up ~16% year over year, with Commercial Aviation at ~$15.1 billion after the E2 program passed 500 firm orders. The most optimistic published target, $97.00, assumes this works close to its best case.

The case against. Deliveries are concentrated in the back half of the year, so a supply chain slip on engines or structures in the fourth quarter can move the full-year result materially, and Embraer has limited room to catch up once a quarter is lost. The most pessimistic target, $65.00, is roughly what EMBJ is worth if this bites instead.

Read the full bull and bear case on EMBJ, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Embraer S.A.'s investor relations page or your broker.

• Revenue (TTM): ~$7.9 billion (four quarters through 1Q26; FY2025 was ~$7.58 billion, up ~18%)
• 2026 revenue guidance: ~$8.2 billion to ~$8.5 billion
• Adjusted EBIT margin: ~8.7% in FY2025, guided ~8.7% to ~9.3% for 2026
• Firm order backlog: ~$34.5 billion as of 2Q26, a seventh consecutive record
• Market cap: ~$12.9 billion at ~$73 per ADS
• P/E: ~40x trailing, ~23x forward

Embraer had not yet reported second-quarter 2026 financials as of early August, with the release scheduled for August 10, so the latest full income statement is 1Q26: revenue of ~$1,447 million, up ~31% and the highest first quarter on record, adjusted EBIT of ~$94.0 million at a ~6.5% margin, and adjusted net income of ~$27.7 million. The ADSs are up substantially over the past year and sit inside a 52-week range of roughly $54 to $81, with average sell-side price targets near $81. The trailing multiple looks demanding against a business earning single-digit EBIT margins, which is largely why the forward figure compresses to the low twenties on the guided ramp.

Other names that sit close to EMBJ: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get EMBJ exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so EMBJ sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where EMBJ fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

EMBJ is a backlog-rich aerospace manufacturer whose valuation already assumes the delivery ramp lands, which makes production rates and margin conversion the numbers that decide the outcome.

Whether EMBJ is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is EMBJ a buy or a sell?, and where the stock could go from here in the EMBJ stock forecast.

For income investors, whether EMBJ pays a dividend and how the payout looks is covered in does EMBJ pay a dividend? And to weigh EMBJ against a peer, read the full side-by-side comparisons: EMBJ vs ATR and EMBJ vs TXT.