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WORKHORSE GROUP INC (WKHS) Stock Fundamental Analysis

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

0.9645  -0.07 (-6.36%)

After market: 0.99 +0.03 (+2.64%)

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 may be in some trouble as it scores bad on both profitability and health. While showing a medium growth rate, WKHS is valued expensive at the moment.


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.
WKHS had a negative operating cash flow in the past year.
In the past 5 years WKHS reported 4 times negative net income.
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.
With a Return On Equity value of -297.14%, WKHS is not doing good in the industry: 67.57% of the companies in the same industry are doing better.
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

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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1

2. Health

2.1 Basic Checks

WKHS does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, WKHS has more shares outstanding
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 -12.30. This is a bad value and indicates that WKHS is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of -12.30, WKHS is doing worse than 75.68% of the companies in the same industry.
WKHS has a Debt/Equity ratio of 1.44. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.44, WKHS is in line with its industry, outperforming 43.24% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.44
Debt/FCF N/A
Altman-Z -12.3
ROIC/WACCN/A
WACC8.18%
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

A Current Ratio of 0.96 indicates that WKHS may have some problems paying 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.
A Quick Ratio of 0.45 indicates that WKHS may have some problems paying its short term obligations.
The Quick ratio of WKHS (0.45) is worse than 67.57% of its industry peers.
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.
Looking at the last year, WKHS shows a very negative growth in Revenue. The Revenue has decreased by -53.57% in the last year.
The Revenue has been growing by 77.08% on average over the past years. This is a very strong growth!
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

WKHS is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 39.06% yearly.
WKHS is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 54.50% yearly.
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

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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4. Valuation

4.1 Price/Earnings Ratio

WKHS reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year WKHS is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
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

A more expensive valuation may be justified as WKHS's earnings are expected to grow with 39.06% in the coming years.
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

No dividends for WKHS!.
Industry RankSector Rank
Dividend Yield N/A

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WORKHORSE GROUP INC

NASDAQ:WKHS (6/12/2025, 8:00:02 PM)

After market: 0.99 +0.03 (+2.64%)

0.9645

-0.07 (-6.36%)

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 Owners6.55%
Inst Owner Change-98.34%
Ins Owners2.22%
Ins Owner Change-0.17%
Market Cap9.13M
Analysts45.71
Price Target2.04 (111.51%)
Short Float %10.79%
Short Ratio1.54
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)100%
EPS NQ rev (1m)-25.26%
EPS NQ rev (3m)-1226.67%
EPS NY rev (1m)-26.68%
EPS NY rev (3m)-1206.72%
Revenue NQ rev (1m)-11.54%
Revenue NQ rev (3m)-22.03%
Revenue NY rev (1m)-12.66%
Revenue NY rev (3m)-28.32%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 1.54
P/FCF N/A
P/OCF N/A
P/B 0.29
P/tB 0.29
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 -12.3
F-Score3
WACC8.18%
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