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WORKHORSE GROUP INC (WKHS) Stock Fundamental Analysis

NASDAQ:WKHS - Nasdaq - US98138J4040 - Common Stock - Currency: USD

2.07  -0.07 (-3.27%)

After market: 2.04 -0.03 (-1.45%)

Fundamental Rating

2

WKHS gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 37 industry peers in the Automobiles industry. Both the profitability and financial health of WKHS have multiple concerns. WKHS is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1. Profitability

1.1 Basic Checks

WKHS had negative earnings in the past year.
WKHS had a negative operating cash flow in the past year.
WKHS had negative earnings in 4 of the past 5 years.
WKHS had a negative operating cash flow in each of the past 5 years.
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

The Return On Assets of WKHS (-80.77%) is worse than 86.49% of its industry peers.
Looking at the Return On Equity, with a value of -297.14%, WKHS is doing worse than 67.57% of the companies in the same industry.
Industry RankSector Rank
ROA -80.77%
ROE -297.14%
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

The Profit Margin and Operating Margin and Gross Margin are not available for WKHS so they could not be analyzed.
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
Compared to 1 year ago, WKHS has an improved debt to assets ratio.
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 -12.23. 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 -12.23, WKHS is not doing good in the industry: 75.68% of the companies in the same industry are doing better.
A Debt/Equity ratio of 1.44 is on the high side and indicates that WKHS has dependencies on debt financing.
With a Debt to Equity ratio value of 1.44, WKHS perfoms like the industry average, outperforming 43.24% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.44
Debt/FCF N/A
Altman-Z -12.23
ROIC/WACCN/A
WACC7.69%
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 0.96. This is a bad value and indicates that WKHS is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.96, WKHS is not doing good in the industry: 62.16% of the companies in the same industry are doing better.
WKHS has a Quick Ratio of 0.96. This is a bad value and indicates that WKHS is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.45, WKHS is not doing good in the industry: 67.57% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.96
Quick Ratio 0.45
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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3. Growth

3.1 Past

WKHS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 67.14%, which is quite impressive.
WKHS shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -53.57%.
Measured over the past years, WKHS shows a very strong growth in Revenue. The Revenue has been growing by 77.08% on average per year.
EPS 1Y (TTM)67.14%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%81.28%
Revenue 1Y (TTM)-53.57%
Revenue growth 3YN/A
Revenue growth 5Y77.08%
Sales Q2Q%-52.14%

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 54.50% on average over the next years. This is a very strong growth
EPS Next Y75.78%
EPS Next 2Y39.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year29.03%
Revenue Next 2Y54.5%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of 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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4. Valuation

4.1 Price/Earnings Ratio

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

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 -30 -40

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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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 (7/21/2025, 8:00:02 PM)

After market: 2.04 -0.03 (-1.45%)

2.07

-0.07 (-3.27%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobiles
Earnings (Last)05-15 2025-05-15/bmo
Earnings (Next)08-18 2025-08-18/amc
Inst Owners2.29%
Inst Owner Change-30.25%
Ins Owners0.37%
Ins Owner Change-0.11%
Market Cap19.60M
Analysts43.33
Price Target2.04 (-1.45%)
Short Float %14.87%
Short Ratio0.42
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)0
Avg EPS beat(2)-65.93%
Min EPS beat(2)-98.39%
Max EPS beat(2)-33.48%
EPS beat(4)1
Avg EPS beat(4)-35.58%
Min EPS beat(4)-98.39%
Max EPS beat(4)4.82%
EPS beat(8)2
Avg EPS beat(8)-31.19%
EPS beat(12)3
Avg EPS beat(12)-28.81%
EPS beat(16)3
Avg EPS beat(16)-76.66%
Revenue beat(2)0
Avg Revenue beat(2)-56.19%
Min Revenue beat(2)-73.26%
Max Revenue beat(2)-39.12%
Revenue beat(4)0
Avg Revenue beat(4)-55.21%
Min Revenue beat(4)-80.32%
Max Revenue beat(4)-28.15%
Revenue beat(8)1
Avg Revenue beat(8)-51.93%
Revenue beat(12)1
Avg Revenue beat(12)-53.59%
Revenue beat(16)1
Avg Revenue beat(16)-226.08%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-25.26%
EPS NY rev (1m)0%
EPS NY rev (3m)-26.68%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-11.54%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-12.66%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 3.31
P/FCF N/A
P/OCF N/A
P/B 0.62
P/tB 0.62
EV/EBITDA N/A
EPS(TTM)-45.18
EYN/A
EPS(NY)-4.33
Fwd EYN/A
FCF(TTM)-4.1
FCFYN/A
OCF(TTM)-3.99
OCFYN/A
SpS0.62
BVpS3.31
TBVpS3.31
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -80.77%
ROE -297.14%
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-Score3
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 1.44
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 13.32%
Cap/Sales 17.85%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.96
Quick Ratio 0.45
Altman-Z -12.23
F-Score3
WACC7.69%
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)67.14%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%81.28%
EPS Next Y75.78%
EPS Next 2Y39.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-53.57%
Revenue growth 3YN/A
Revenue growth 5Y77.08%
Sales Q2Q%-52.14%
Revenue Next Year29.03%
Revenue Next 2Y54.5%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y39.12%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year72.72%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y66.27%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y60.58%
OCF growth 3YN/A
OCF growth 5YN/A