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Home CompaniesWorkhorse Group Inc

Workhorse Group Inc

Consumer Cyclical Auto Manufacturers
PortfolioPortfolio WatchlistWatchlist
Company price
3.09 USD -0.04 ( 1.28%)
Last update at 2026-11-06T21:00:00Z
VOLUME
91841
Market Cap
33.33M

Momentum Score

…

Workhorse Group, Inc. design and manufacture electric delivery trucks and drone systems solutions. The company provides step vans and stripped chassis; stripped chassis; shuttle bus, school bus, box truck, and work truck; workhorse connect, a remote data management system; telematics and charging infrastructure solutions; after-sales vehicle services; body shop and parts; and assembly services. It markets its products under the Workhorse and Motiv brand names. The company is based in Wixom, Michigan.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
2.99
Low
3.34
High
52 Week Price Range
2.31
Low
15.00
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Workhorse Group Inc is a U.S.-based manufacturer of electric delivery vehicles and logistics technology focused on last-mile fleets. Long-term growth drivers include electrification of commercial fleets, rising e-commerce parcel volumes and fleet replacement cycles, and investors may find exposure appealing as companies and municipalities shift toward lower-emission logistics.

Material risks include execution and production challenges typical of early-stage vehicle manufacturers, high financing and liquidity needs, dependence on achieving fleet contracts and exposure to regulatory and legal scrutiny.

Risk Score
High

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
3.13
Dividend Yield
-
Revenue TTM
27.21M
Revenue Per Share
2.71
Gross Profit TTM
-22.07M
Debt / Equity
0.88
ROE
-247.68%
Net Debt
24.90M
ROCE
-59.03%
Diluted EPS TTM
-7.87

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax -64.08M -101.91M -123.81M -117.27M -423.19M
Net income -64.09M -101.79M -123.92M -105.47M -401.34M
Selling general administrative 24.72M 41.61M 53.47M 73.22M 40.16M
Selling and marketing expenses - 0.90M 1.20M - -
Gross profit -9.55M -22.23M -25.26M -32.65M -133.34M
Reconciled depreciation 1.24M 7.91M 3.04M 1.95M 1.91M
Ebit -46.66M -79.67M -104.40M -129.08M -185.11M
Ebitda -45.43M -71.76M -100.34M -115.00M -415.96M
Depreciation and amortization 1.24M 7.91M 4.06M 14.09M -230.84M
Operating income -47.44M -73.89M -105.30M -129.08M -185.11M
Other operating expenses 68.65M 80.50M 118.39M 134.11M 184.26M
Interest expense 17.42M 22.24M 8.73M 0.33M 6.74M
Tax provision 0.00M -0.12M -0.11M 0.00M -21.85M
Net interest income -17.42M -22.24M 3.43M -0.33M -6.74M
Income tax expense 0.00M -0.12M 0.11M -11.81M -21.85M
Total revenue 21.21M 6.62M 13.09M 5.02M -0.85M
Total operating expenses 37.88M 51.66M 80.04M 96.43M 51.77M
Cost of revenue 30.77M 28.84M 38.35M 37.67M 132.49M
Total other income expense net -16.64M -28.02M -18.51M 11.81M -238.08M
Net income from continuing ops -64.09M -101.79M -117.32M -117.27M -401.34M
Net income applicable to common shares - - - -117.27M -401.34M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 117.89M 93.84M 141.67M 182.74M 228.14M
Intangible assets 10.18M - - - -
Other current assets 3.95M 6.39M 8.10M 0.51M 4.36M
Total liab 74.85M 49.55M 58.56M 74.16M 53.45M
Total stockholder equity 43.04M 44.29M 83.11M 108.59M 174.69M
Other current liab 21.99M 15.37M 12.37M 46.76M 19.34M
Common stock 0.01M 0.00M 0.29M 0.17M 0.15M
Capital stock 0.01M 0.00M 0.29M 0.17M 0.15M
Retained earnings -319.02M -853.36M -751.57M -627.65M -510.37M
Other liab - - - 2.00M -
Good will 3.13M 0.00M - - -
Other assets - - 0.00M 0.18M 2.48M
Cash 12.92M 4.12M 35.85M 99.28M 201.65M
Total current liabilities 38.85M 45.24M 53.28M 63.31M 27.55M
Current deferred revenue 1.61M 6.35M 4.71M 3.38M 14.75M
Net debt 24.90M 12.20M -6.82M -89.15M -175.39M
Short term debt 3.62M 12.00M 23.74M 1.29M 0.36M
Short long term debt - 10.49M 20.18M - -
Short long term debt total 37.82M 16.32M 29.02M 10.13M 26.26M
Other stockholder equity 362.06M 897.64M 834.39M 736.07M 686.32M
Property plant equipment - - - 21.50M 9.44M
Total current assets 59.82M 53.43M 93.83M 139.36M 216.22M
Long term investments - - 0.00M 10.00M 0.00M
Net tangible assets - - - 108.59M 174.69M
Net receivables 3.89M 1.08M 4.47M 17.08M 0.15M
Long term debt 15.43M - - - 24.70M
Inventory 39.06M 41.84M 45.41M 8.85M 10.07M
Accounts payable 11.63M 11.51M 12.46M 11.89M 7.85M
Accumulated other comprehensive income - - - - -1.40M
Common stock total equity - - - 0.17M 0.15M
Retained earnings total equity - - - -627.65M -510.37M
Non currrent assets other 0.42M 0.18M 0.18M 0.18M 2.48M
Non current assets total 58.07M 40.41M 47.85M 43.38M 11.92M
Capital lease obligations 22.39M 5.83M 8.84M 10.13M 1.55M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments - -4.06M -21.84M -5.00M 105.13M
Change to liabilities - - - 33.68M -10.00M
Total cashflows from investing activities 9.83M -4.06M -18.69M -20.02M 99.81M
Net borrowings 22.00M 13.29M 16.62M - -
Total cash from financing activities 32.02M 20.45M 78.28M 11.47M -6.82M
Change to operating activities - - - -12.13M 3.37M
Net income -64.09M -101.79M -123.92M -117.27M -401.34M
Change in cash 6.29M -31.20M -63.43M -102.37M -39.58M
Begin period cash flow 6.63M 35.85M 99.28M 201.65M 241.23M
End period cash flow 12.92M 4.64M 35.85M 99.28M 201.65M
Total cash from operating activities -35.55M -47.59M -123.02M -93.82M -132.58M
Issuance of capital stock 0.00M 7.34M 65.43M 12.88M 0.00M
Depreciation 1.24M 7.91M 4.06M 1.95M 1.91M
Other cashflows from investing activities 10.43M - - 2.48M 105.13M
Dividends paid - - 35.00M - -
Change to inventory 4.85M -1.33M -39.29M -16.63M -69.61M
Change to account receivables 0.05M 2.30M -0.35M -16.93M 0.98M
Sale purchase of stock - -0.18M -0.50M 12.88M -
Other cashflows from financing activities 10.00M -0.83M -0.50M -1.42M -6.82M
Change to netincome - - - 30.16M 342.11M
Capital expenditures 0.60M 4.06M 18.69M 17.50M 5.31M
Change receivables - - - -16.93M 0.98M
Cash flows other operating - - - -8.76M 10.91M
Cash and cash equivalents changes - - - -102.37M -39.58M
Change in working capital 22.19M 5.34M -43.07M -11.51M -53.42M
Stock based compensation 0.68M 10.06M 13.42M 11.46M 4.94M
Other non cash items 4.43M 30.89M 26.48M 21.56M 337.17M
Free cash flow -36.16M -51.65M -141.71M -111.32M -137.89M

Peer Comparison*

Sector: Consumer Cyclical Industry: Auto Manufacturers

Stock Name
Change
(USD)
Price
(USD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
WKHS
Workhorse Group Inc		 -0.04
1.28%		 3.09 - - 1.23 4.64 3.67 -0.62
TSLA
Tesla Inc		 13.86
4.03%		 357.55 333.25 149.25 13.59 16.32 13.42 115.59
TM
Toyota Motor Corporation ADR		 -1.92
0.88%		 216.19 8.55 11.15 0.00 0.95 1.28 7.65
TOYOF
Toyota Motor Corp		 -0.31
1.43%		 21.39 8.26 11.49 0.00 0.98 1.28 7.65
BYDDY
BYD Co Ltd ADR		 0.06
0.64%		 9.45 27.15 20.49 0.18 3.56 1.12 7.45

Profile*

Workhorse Group Inc

Workhorse Group, Inc. design and manufacture electric delivery trucks and drone systems solutions. The company provides step vans and stripped chassis; stripped chassis; shuttle bus, school bus, box truck, and work truck; workhorse connect, a remote data management system; telematics and charging infrastructure solutions; after-sales vehicle services; body shop and parts; and assembly services. It markets its products under the Workhorse and Motiv brand names. The company is based in Wixom, Michigan.

48443 Alpha Drive #190, Wixom, MI, United States, 48393

888 646 5205

https://www.motivtrucks.com

148

Name Title Year Born
Mr. Richard F. Dauch Pres, CEO & Director 1961
Mr. Gregory T. Ackerson Chief Accounting Officer, Principal Accounting Officer & Corp. Controller 1978
Mr. Joshua Joseph Anderson Chief Technology Officer 1976
Mr. James D. Harrington Chief Admin. Officer, Gen. Counsel & Sec. 1961
Mr. Duane A. Hughes Consultant 1964
Mr. John W. Graber Pres of Aerospace 1957
Mr. Robert M. Ginnan Chief Financial Officer 1964
Mr. Stan March VP of Corp. Devel. & Communications 1959
Ms. Kerry Roraff Chief HR Officer 1976
Mr. Ryan Wesley Gaul Pres of Commercial Vehicles 1976

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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