Fundamental Analysis of NIKOLA CORP(NASDAQ:NKLA) stock

Fundamental Rating

We assign a fundamental rating of 2 out of 10 to NKLA. NKLA was compared to 130 industry peers in the Machinery industry. NKLA may be in some trouble as it scores bad on both profitability and health. NKLA is valied quite expensively at the moment, while it does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

NKLA had negative earnings in the past year.

In the past year NKLA has reported a negative cash flow from operations.

NKLA had negative earnings in 4 of the past 5 years.

NKLA had a negative operating cash flow in each of the past 5 years.

1.2 Ratios

NKLA has a Return On Assets of -82.01%. This is amonst the worse of the industry: NKLA underperforms 91.41% of its industry peers.

NKLA has a Return On Equity of -161.17%. This is amonst the worse of the industry: NKLA underperforms 89.84% of its industry peers.

		Industry Rank	Sector Rank
ROA	-82.01%
ROE	-161.17%
ROIC	N/A

ROA(3y)-69.65%

ROA(5y)-48.86%

ROE(3y)-127.62%

ROE(5y)-84.18%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

NKLA does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

NKLA does not have a ROIC to compare to the WACC, probably because it is not profitable.

NKLA has more shares outstanding than it did 1 year ago.

Compared to 5 years ago, NKLA has more shares outstanding

NKLA has a better debt/assets ratio than last year.

2.2 Solvency

Based on the Altman-Z score of -4.78, we must say that NKLA is in the distress zone and has some risk of bankruptcy.

NKLA has a Altman-Z score of -4.78. This is amonst the worse of the industry: NKLA underperforms 89.84% of its industry peers.

NKLA has a Debt/Equity ratio of 0.46. This is a healthy value indicating a solid balance between debt and equity.

The Debt to Equity ratio of NKLA (0.46) is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Debt/Equity	0.46
Debt/FCF	N/A
Altman-Z	-4.78

ROIC/WACCN/A

WACC7.7%

2.3 Liquidity

A Current Ratio of 1.73 indicates that NKLA should not have too much problems paying its short term obligations.

With a Current ratio value of 1.73, NKLA is not doing good in the industry: 66.41% of the companies in the same industry are doing better.

A Quick Ratio of 1.50 indicates that NKLA should not have too much problems paying its short term obligations.

NKLA has a Quick ratio of 1.50. This is in the better half of the industry: NKLA outperforms 68.75% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	1.73
Quick Ratio	1.5

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

NKLA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 39.66%, which is quite impressive.

NKLA shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -45.61%.

Measured over the past years, NKLA shows a very strong growth in Revenue. The Revenue has been growing by 610.32% on average per year.

EPS 1Y (TTM)39.66%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%65.38%

Revenue 1Y (TTM)-45.61%

Revenue growth 3Y610.32%

Revenue growth 5YN/A

Sales Q2Q%-32.56%

3.2 Future

Based on estimates for the next years, NKLA will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.54% on average per year.

NKLA is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 158.27% yearly.

EPS Next Y57.6%

EPS Next 2Y28.69%

EPS Next 3Y22.38%

EPS Next 5Y15.54%

Revenue Next Year216.28%

Revenue Next 2Y233.75%

Revenue Next 3Y208.25%

Revenue Next 5Y158.27%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for NKLA. In the last year negative earnings were reported.

Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for NKLA. No positive earnings are expected for the next year.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

A more expensive valuation may be justified as NKLA's earnings are expected to grow with 22.38% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y28.69%

EPS Next 3Y22.38%

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5. Dividend

5.1 Amount

NKLA does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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NIKOLA CORP

NASDAQ:NKLA (6/17/2024, 5:02:54 PM)

After market: 0.49 0 (0%)

0.49

-0.02 (-3.33%)

Chartmill FA Rating

GICS SectorIndustrials

GICS IndustryGroupCapital Goods

GICS IndustryMachinery

Earnings (Last)

Earnings (Next)

Inst Owners

Inst Owner Change

Ins Owners

Ins Owner Change

Market Cap664.71M

Analysts

Price Target

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Dividend Growth(5Y)

Div Incr Years

Div Non Decr Years

Ex-Date

Surprises & Revisions

EPS beat(2)

Avg EPS beat(2)

Min EPS beat(2)

Max EPS beat(2)

EPS beat(4)

Avg EPS beat(4)

Min EPS beat(4)

Max EPS beat(4)

EPS beat(8)

Avg EPS beat(8)

EPS beat(12)

Avg EPS beat(12)

EPS beat(16)

Avg EPS beat(16)

Revenue beat(2)

Avg Revenue beat(2)

Min Revenue beat(2)

Max Revenue beat(2)

Revenue beat(4)

Avg Revenue beat(4)

Min Revenue beat(4)

Max Revenue beat(4)

Revenue beat(8)

Avg Revenue beat(8)

Revenue beat(12)

Avg Revenue beat(12)

Revenue beat(16)

Avg Revenue beat(16)

PT rev (1m)

PT rev (3m)

EPS NQ rev (1m)

EPS NQ rev (3m)

EPS NY rev (1m)

EPS NY rev (3m)

Revenue NQ rev (1m)

Revenue NQ rev (3m)

Revenue NY rev (1m)

Revenue NY rev (3m)

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S
P/FCF
P/OCF
P/B
P/tB
EV/EBITDA

EPS(TTM)

EPS(NY)

Fwd EY

FCF(TTM)

FCFY

OCF(TTM)

OCFY

SpS

BVpS

TBVpS

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-82.01%
ROE	-161.17%
ROCE
ROIC
ROICexc
ROICexgc
OM	N/A
PM (TTM)	N/A
GM	N/A
FCFM

ROA(3y)

ROA(5y)

ROE(3y)

ROE(5y)

ROIC(3y)

ROIC(5y)

ROICexc(3y)

ROICexc(5y)

ROICexgc(3y)

ROICexgc(5y)

ROCE(3y)

ROCE(5y)

ROICexcg growth 3Y

ROICexcg growth 5Y

ROICexc growth 3Y

ROICexc growth 5Y

OM growth 3Y

OM growth 5Y

PM growth 3Y

PM growth 5Y

GM growth 3Y

GM growth 5Y

F-Score

Asset Turnover0.03

Health

		Industry Rank	Sector Rank
Debt/Equity	0.46
Debt/FCF
Debt/EBITDA
Cap/Depr
Cap/Sales
Interest Coverage
Cash Conversion
Profit Quality
Current Ratio	1.73
Quick Ratio	1.5
Altman-Z

F-Score

WACC

ROIC/WACC

Cap/Depr(3y)

Cap/Depr(5y)

Cap/Sales(3y)

Cap/Sales(5y)

Profit Quality(3y)

Profit Quality(5y)

High Growth Momentum

Growth

EPS 1Y (TTM)39.66%

EPS 3YN/A

EPS 5Y

EPS Q2Q%

EPS Next Y57.6%

EPS Next 2Y

EPS Next 3Y

EPS Next 5Y

Revenue 1Y (TTM)-45.61%

Revenue growth 3Y610.32%

Revenue growth 5Y

Sales Q2Q%

Revenue Next Year

Revenue Next 2Y

Revenue Next 3Y

Revenue Next 5Y

EBIT growth 1Y

EBIT growth 3Y

EBIT growth 5Y

EBIT Next Year

EBIT Next 3Y

EBIT Next 5Y

FCF growth 1Y

FCF growth 3Y

FCF growth 5Y

OCF growth 1Y

OCF growth 3Y

OCF growth 5Y

NIKOLA CORP (NKLA)

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

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