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WORKHORSE GROUP INC (WKHS) Stock Fundamental Analysis

USA - NASDAQ:WKHS - US98138J4040 - Common Stock

1.03 USD
-0.01 (-0.96%)
Last: 10/17/2025, 6:55:53 PM
1.0498 USD
+0.02 (+1.92%)
After Hours: 10/17/2025, 6:55:53 PM
Fundamental Rating

2

We assign a fundamental rating of 2 out of 10 to WKHS. WKHS was compared to 37 industry peers in the Automobiles industry. WKHS has a bad profitability rating. Also its financial health evaluation is rather negative. WKHS is valued quite expensive, but it does show an excellent growth.


Dividend Valuation Growth Profitability Health

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0

1. Profitability

1.1 Basic Checks

In the past year WKHS has reported negative net income.
In the past year WKHS has reported a negative cash flow from operations.
WKHS had negative earnings in 4 of the past 5 years.
In the past 5 years WKHS always reported negative operating cash flow.
WKHS Yearly Net Income VS EBIT VS OCF VS FCFWKHS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100M -200M -300M -400M

1.2 Ratios

WKHS's Return On Assets of -82.35% is on the low side compared to the rest of the industry. WKHS is outperformed by 75.68% of its industry peers.
Looking at the Return On Equity, with a value of -365.78%, WKHS is in line with its industry, outperforming 40.54% of the companies in the same industry.
Industry RankSector Rank
ROA -82.35%
ROE -365.78%
ROIC N/A
ROA(3y)-86.71%
ROA(5y)-85.01%
ROE(3y)-162.31%
ROE(5y)-139.8%
ROIC(3y)N/A
ROIC(5y)N/A
WKHS Yearly ROA, ROE, ROICWKHS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -500 -1K

1.3 Margins

WKHS does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector 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
WKHS Yearly Profit, Operating, Gross MarginsWKHS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10K 20K 30K 40K

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2. Health

2.1 Basic Checks

WKHS does not have a ROIC to compare to the WACC, probably because it is not profitable.
WKHS has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, WKHS has more shares outstanding
The debt/assets ratio for WKHS has been reduced compared to a year ago.
WKHS Yearly Shares OutstandingWKHS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1M 2M 3M
WKHS Yearly Total Debt VS Total AssetsWKHS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.2 Solvency

WKHS has an Altman-Z score of -14.32. This is a bad value and indicates that WKHS is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of -14.32, WKHS is not doing good in the industry: 72.97% of the companies in the same industry are doing better.
A Debt/Equity ratio of 1.77 is on the high side and indicates that WKHS has dependencies on debt financing.
WKHS has a worse Debt to Equity ratio (1.77) than 62.16% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.77
Debt/FCF N/A
Altman-Z -14.32
ROIC/WACCN/A
WACC7.68%
WKHS Yearly LT Debt VS Equity VS FCFWKHS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M 200M 300M

2.3 Liquidity

WKHS has a Current Ratio of 0.87. This is a bad value and indicates that WKHS is not financially healthy enough and could expect problems in meeting its short term obligations.
WKHS has a worse Current ratio (0.87) than 62.16% of its industry peers.
WKHS has a Quick Ratio of 0.87. This is a bad value and indicates that WKHS is not financially healthy enough and could expect problems in meeting its short term obligations.
WKHS has a Quick ratio of 0.42. This is in the lower half of the industry: WKHS underperforms 70.27% of its industry peers.
Industry RankSector Rank
Current Ratio 0.87
Quick Ratio 0.42
WKHS Yearly Current Assets VS Current LiabilitesWKHS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

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7

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 76.52% over the past year.
The Revenue has grown by 11.72% in the past year. This is quite good.
The Revenue has been growing by 77.08% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)76.52%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%90.46%
Revenue 1Y (TTM)11.72%
Revenue growth 3YN/A
Revenue growth 5Y77.08%
Sales Q2Q%573.28%

3.2 Future

Based on estimates for the next years, WKHS will show a very strong growth in Earnings Per Share. The EPS will grow by 39.06% on average per year.
The Revenue is expected to grow by 47.01% on average over the next years. This is a very strong growth
EPS Next Y87.88%
EPS Next 2Y39.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year61.29%
Revenue Next 2Y47.01%
Revenue Next 3YN/A
Revenue Next 5YN/A

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.
WKHS Yearly Revenue VS EstimatesWKHS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 5M 10M 15M
WKHS Yearly EPS VS EstimatesWKHS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 -200 -400 -600 -800

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1

4. Valuation

4.1 Price/Earnings Ratio

WKHS reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for WKHS. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
WKHS Price Earnings VS Forward Price EarningsWKHS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30 40 50

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
WKHS Per share dataWKHS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 -10 -20

4.3 Compensation for Growth

WKHS's earnings are expected to grow with 39.06% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y39.06%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

WKHS does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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WORKHORSE GROUP INC

NASDAQ:WKHS (10/17/2025, 6:55:53 PM)

After market: 1.0498 +0.02 (+1.92%)

1.03

-0.01 (-0.96%)

Chartmill FA Rating
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobiles
Earnings (Last)08-15 2025-08-15/bmo
Earnings (Next)11-17 2025-11-17/amc
Inst Owners3.29%
Inst Owner Change0%
Ins Owners0.23%
Ins Owner Change0%
Market Cap15.83M
Analysts45.71
Price Target1.53 (48.54%)
Short Float %15.46%
Short Ratio1.76
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)12.69%
Min EPS beat(2)-33.48%
Max EPS beat(2)58.86%
EPS beat(4)1
Avg EPS beat(4)-22.07%
Min EPS beat(4)-98.39%
Max EPS beat(4)58.86%
EPS beat(8)2
Avg EPS beat(8)-26.35%
EPS beat(12)4
Avg EPS beat(12)-23.17%
EPS beat(16)4
Avg EPS beat(16)-71.96%
Revenue beat(2)1
Avg Revenue beat(2)34.19%
Min Revenue beat(2)-73.26%
Max Revenue beat(2)141.65%
Revenue beat(4)1
Avg Revenue beat(4)0.28%
Min Revenue beat(4)-73.26%
Max Revenue beat(4)141.65%
Revenue beat(8)2
Avg Revenue beat(8)-24.99%
Revenue beat(12)2
Avg Revenue beat(12)-39.17%
Revenue beat(16)2
Avg Revenue beat(16)-212.26%
PT rev (1m)0%
PT rev (3m)-25%
EPS NQ rev (1m)0%
EPS NQ rev (3m)62.24%
EPS NY rev (1m)49.97%
EPS NY rev (3m)49.97%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)20%
Revenue NY rev (1m)0%
Revenue NY rev (3m)25%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 1.47
P/FCF N/A
P/OCF N/A
P/B 0.71
P/tB 0.71
EV/EBITDA N/A
EPS(TTM)-29.35
EYN/A
EPS(NY)-4.33
Fwd EYN/A
FCF(TTM)-2.07
FCFYN/A
OCF(TTM)-2.05
OCFYN/A
SpS0.7
BVpS1.45
TBVpS1.45
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -82.35%
ROE -365.78%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM N/A
ROA(3y)-86.71%
ROA(5y)-85.01%
ROE(3y)-162.31%
ROE(5y)-139.8%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/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
F-Score5
Asset Turnover0.11
Health
Industry RankSector Rank
Debt/Equity 1.77
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 3.96%
Cap/Sales 2.84%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.87
Quick Ratio 0.42
Altman-Z -14.32
F-Score5
WACC7.68%
ROIC/WACCN/A
Cap/Depr(3y)469.58%
Cap/Depr(5y)478.83%
Cap/Sales(3y)184.25%
Cap/Sales(5y)317.94%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)76.52%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%90.46%
EPS Next Y87.88%
EPS Next 2Y39.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)11.72%
Revenue growth 3YN/A
Revenue growth 5Y77.08%
Sales Q2Q%573.28%
Revenue Next Year61.29%
Revenue Next 2Y47.01%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y43.32%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year60.96%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y74.81%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y69.71%
OCF growth 3YN/A
OCF growth 5YN/A