WKHS
Workhorse Group, Inc.
Price Chart
Latest Quote
$4.85
Current Price| Previous Close | $4.90 |
| Open | $4.90 |
| Day High | $4.99 |
| Day Low | $4.79 |
| Volume | 47,659 |
Stock Information
| Shares Outstanding | 8.80M |
| Total Debt | $94.31M |
| Cash Equivalents | $2.65M |
| Revenue | $7.90M |
| Net Income | $-56.42M |
| Sector | Consumer Cyclical |
| Industry | Auto Manufacturers |
| Market Cap | $42.68M |
| P/E Ratio | 0.06 |
| EPS (TTM) | $78.24 |
| Exchange | NCM |
📊 Custom Metrics & Score
Score: 9/42| Debt to Equity | 0.37 |
| Debt to Earnings | -0.73 |
| Current Ratio | 1.18 |
| Quick Ratio | 0.11 |
| Avg Revenue Growth | -219.16% |
| Profit Margin | -1538.46% |
| Return on Equity | -229.84% |
| Avg FCF Growth | -15.63% |
| FCF Yield | -121.03% |
Score Explanation: The perfect score is 42/42 based on debt levels, profitability, growth rates, and cash flow metrics. FCF Yield is weighted most heavily as it shows what return the business currently generates.
Recent Price History
| Date | Close | Volume |
|---|---|---|
| 2026-02-02 | $4.85 | 47,700 |
| 2026-01-30 | $4.90 | 92,500 |
| 2026-01-29 | $4.82 | 100,200 |
| 2026-01-28 | $4.82 | 116,400 |
| 2026-01-27 | $4.91 | 93,200 |
| 2026-01-26 | $4.93 | 108,800 |
| 2026-01-23 | $5.00 | 74,200 |
| 2026-01-22 | $5.13 | 77,700 |
| 2026-01-21 | $5.00 | 88,400 |
| 2026-01-20 | $5.06 | 158,300 |
| 2026-01-16 | $5.18 | 186,300 |
| 2026-01-15 | $5.16 | 119,000 |
| 2026-01-14 | $5.31 | 74,200 |
| 2026-01-13 | $5.35 | 170,100 |
| 2026-01-12 | $5.67 | 198,100 |
| 2026-01-09 | $5.38 | 111,600 |
| 2026-01-08 | $5.51 | 144,600 |
| 2026-01-07 | $5.36 | 191,800 |
| 2026-01-06 | $5.81 | 95,300 |
| 2026-01-05 | $5.82 | 156,300 |
About Workhorse Group, Inc.
Workhorse Group, Inc. designs and manufactures electric trucks and related fleet charging solutions. The company provides electric trucks for medium-duty fleet applications, including the Argo electric truck and Argo chassis, which integrate proprietary battery, drivetrain, and cab systems. It offers the Argo LFP battery with control signals, multiple pack configurations, and a range suitable for maximum gross vehicle weight, as well as six-phase motors and drivetrain systems that deliver torque and acceleration comparable to traditional engines. Solutions include real-time control software for power management, over-the-air updates, remote diagnostics, and tuning tools to enhance fleet uptime and performance. The company supplies fleet charging solutions, supports customized body builders with various charge port locations and high-voltage accessories, and incorporates safety and ergonomic features for drivers. Additional services include ongoing support for electrification, remote monitoring, and assistance with vehicle integration and fleet management, serving fleet operators and industries with specialized commercial vehicle requirements. The company was founded in 2009 and is based in Foster City, California.
📰 Latest News
Top Electric & Autonomous Driving Stocks to Invest in Now
Zacks • 2026-01-12T13:31:00Z
Has Workhorse Group (WKHS) Outpaced Other Auto-Tires-Trucks Stocks This Year?
Zacks • 2026-01-06T14:40:03Z
The Zacks Analyst Blog Highlights Blue Bird, Workhorse, QuantumScape and ChargePoint
Zacks • 2025-12-23T15:17:00Z
Bet on These 5 Top-Ranked Stocks With Rising P/E
Zacks • 2025-12-23T13:52:00Z
4 Stocks Poised to Capitalize on the EV Revolution in 2026
Zacks • 2025-12-22T16:24:00Z
What The Motiv Merger Uncertainty Means For Workhorse Group’s Changing Story And Valuation
Simply Wall St. • 2025-12-15T23:13:43Z
How the Narrative Around Workhorse Is Evolving Amid Merger Hopes and Analyst Doubts
Simply Wall St. • 2025-11-30T15:08:59Z
Workhorse (WKHS) Upgraded to Buy: Here's Why
Zacks • 2025-11-25T17:00:03Z
Looking at the Narrative for Workhorse Group as Analyst Sentiment Shifts
Simply Wall St. • 2025-11-16T14:09:07Z
Workhorse Group Inc (WKHS) Q3 2025 Earnings Call Highlights: Strategic Moves and Financial ...
GuruFocus.com • 2025-11-11T21:02:57Z
Income Statement (Annual)
Revenue
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Reconciled Cost Of Revenue | $28,842,087 | $38,350,545 | $37,672,308 | $132,492,110 |
| Cost Of Revenue | $28,842,087 | $38,350,545 | $37,672,308 | $132,492,110 |
| Total Revenue | $6,616,358 | $13,094,752 | $5,023,072 | $-851,922 |
| Operating Revenue | $6,616,358 | $13,094,752 | $5,023,072 | $-851,922 |
Expenses
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Interest Expense | $22,241,781 | $8,731,247 | $1,837,882 | $6,737,902 |
| Total Expenses | $80,503,271 | $118,393,218 | $134,105,936 | $184,262,932 |
| Other Income Expense | $-5,778,660 | $-10,000,000 | $13,646,528 | $-231,339,147 |
| Net Non Operating Interest Income Expense | $-22,241,781 | $-8,731,247 | $-1,837,882 | $-6,737,902 |
| Interest Expense Non Operating | $22,241,781 | $8,731,247 | $1,837,882 | $6,737,902 |
| Operating Expense | $51,661,184 | $80,042,673 | $96,433,628 | $51,770,822 |
| Other Non Operating Income Expenses | - | $-10,000,000 | $13,646,528 | $-232,750,147 |
Income & Earnings
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Net Income From Continuing Operation Net Minority Interest | $-101,790,293 | $-123,919,189 | $-117,274,218 | $-401,344,813 |
| Net Interest Income | $-22,241,781 | $-8,731,247 | $-1,837,882 | $-6,737,902 |
| Normalized Income | $-96,018,271 | $-123,919,189 | $-117,274,218 | $-402,682,441 |
| Net Income From Continuing And Discontinued Operation | $-101,790,293 | $-123,919,189 | $-117,274,218 | $-401,344,813 |
| Total Operating Income As Reported | $-73,886,913 | $-105,298,466 | $-129,082,864 | $-185,114,854 |
| Net Income Common Stockholders | $-101,790,293 | $-123,919,189 | $-117,274,218 | $-401,344,813 |
| Net Income | $-101,790,293 | $-123,919,189 | $-117,274,218 | $-401,344,813 |
| Net Income Including Noncontrolling Interests | $-101,790,293 | $-123,919,189 | $-117,274,218 | $-401,344,813 |
| Net Income Continuous Operations | $-101,790,293 | $-123,919,189 | $-117,274,218 | $-401,344,813 |
| Pretax Income | $-101,907,354 | $-124,029,713 | $-117,274,218 | $-423,191,903 |
| Operating Income | $-73,886,913 | $-105,298,466 | $-129,082,864 | $-185,114,854 |
| Gross Profit | $-22,225,729 | $-25,255,793 | $-32,649,236 | $-133,344,032 |
| Special Income Charges | - | - | $0 | $1,411,000 |
Per Share Metrics
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Diluted EPS | $-620.28 | $-1793.40 | $-2220.00 | $-9360.00 |
| Basic EPS | $-620.28 | $-1793.40 | $-2220.00 | $-9360.00 |
Other
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Tax Effect Of Unusual Items | $-6,638 | $0 | $0 | $73,372 |
| Tax Rate For Calcs | $0 | $0 | $0 | $0 |
| Normalized EBITDA (Bullshit earnings) | $-65,978,445 | $-111,235,291 | $-113,491,124 | $-415,956,582 |
| Total Unusual Items | $-5,778,660 | - | $0 | $1,411,000 |
| Total Unusual Items Excluding Goodwill | $-5,778,660 | - | $0 | $1,411,000 |
| Reconciled Depreciation | $7,908,468 | $4,063,175 | $1,945,212 | $1,908,419 |
| EBITDA (Bullshit earnings) | $-71,757,105 | $-111,235,291 | $-113,491,124 | $-414,545,582 |
| EBIT | $-79,665,573 | $-115,298,466 | $-115,436,336 | $-416,454,001 |
| Diluted Average Shares | $164,107 | $69,097 | $52,858 | $42,892 |
| Basic Average Shares | $164,107 | $69,097 | $52,858 | $42,892 |
| Diluted NI Availto Com Stockholders | $-101,790,293 | $-123,919,189 | $-117,274,218 | $-401,344,813 |
| Tax Provision | $-117,061 | $-110,524 | $0 | $-21,847,089 |
| Gain On Sale Of Security | $-5,778,660 | - | - | - |
| Research And Development | $9,149,055 | $24,467,933 | $23,213,540 | $11,610,027 |
| Selling General And Administration | $42,512,129 | $55,574,740 | $73,220,088 | $40,160,795 |
| Otherunder Preferred Stock Dividend | - | - | - | $0 |
| Other Special Charges | - | - | - | $-1,411,000 |
Balance Sheet (Annual)
Assets
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Net Tangible Assets | $44,287,925 | $83,112,171 | $108,586,931 | $174,692,773 |
| Total Assets | $93,840,769 | $141,674,724 | $182,742,475 | $228,138,890 |
| Total Non Current Assets | $40,408,949 | $47,849,246 | $43,384,208 | $11,916,524 |
| Other Non Current Assets | $176,310 | $176,310 | $176,310 | $2,479,865 |
| Current Assets | $53,431,820 | $93,825,478 | $139,358,267 | $216,222,366 |
| Other Current Assets | $1,318,184 | $908,997 | $505,401 | $1,962,551 |
| Restricted Cash | $525,000 | $10,000,000 | $0 | $0 |
| Prepaid Assets | $4,547,706 | $7,192,165 | $13,647,080 | $2,395,278 |
| Inventory | $41,839,020 | $45,408,192 | $8,850,142 | $10,067,367 |
| Receivables | $1,081,972 | $4,470,209 | $17,079,343 | $149,776 |
| Other Receivables | $544,436 | $2,143,435 | $15,000,000 | - |
| Accounts Receivable | $537,536 | $2,326,774 | $2,079,343 | $149,776 |
| Allowance For Doubtful Accounts Receivable | $-309,313 | $-190,724 | $0 | - |
| Gross Accounts Receivable | $846,849 | $2,517,498 | $2,079,343 | - |
| Cash Cash Equivalents And Short Term Investments | $4,119,938 | $25,845,915 | $99,276,301 | $201,647,394 |
| Cash And Cash Equivalents | $4,119,938 | $25,845,915 | $99,276,301 | $201,647,394 |
Debt
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Net Debt | $6,371,854 | - | - | - |
| Total Debt | $16,321,130 | $29,021,238 | $10,125,094 | $26,259,767 |
| Long Term Debt And Capital Lease Obligation | $4,316,908 | $5,280,526 | $8,840,062 | $25,896,053 |
| Current Debt And Capital Lease Obligation | $12,004,222 | $23,740,712 | $1,285,032 | $363,714 |
| Current Debt | $10,491,792 | $20,180,100 | - | - |
| Other Current Borrowings | $10,491,792 | $20,180,100 | - | - |
| Long Term Debt | - | - | - | $24,705,000 |
Liabilities
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Total Liabilities Net Minority Interest | $49,552,844 | $58,562,553 | $74,155,544 | $53,446,117 |
| Total Non Current Liabilities Net Minority Interest | $4,316,907 | $5,280,526 | $10,845,062 | $25,896,053 |
| Other Non Current Liabilities | $-1 | - | - | - |
| Current Liabilities | $45,235,937 | $53,282,027 | $63,310,482 | $27,550,064 |
| Other Current Liabilities | $6,296,603 | $5,947,239 | $6,240,244 | $4,583,916 |
| Current Deferred Liabilities | $6,350,581 | $4,714,331 | $3,375,000 | $0 |
| Payables And Accrued Expenses | $14,113,556 | $14,893,290 | $45,235,345 | $18,572,349 |
| Interest Payable | $167,388 | $0 | $0 | $232,222 |
| Payables | $11,509,150 | $12,456,272 | $10,235,345 | $7,849,607 |
| Accounts Payable | $11,509,150 | $12,456,272 | $10,235,345 | $7,849,607 |
| Non Current Deferred Liabilities | - | $0 | $2,005,000 | $0 |
| Non Current Deferred Taxes Liabilities | - | - | - | $0 |
| Current Notes Payable | - | - | - | $0 |
Equity
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Common Stock Equity | $44,287,925 | $83,112,171 | $108,586,931 | $174,692,773 |
| Total Equity Gross Minority Interest | $44,287,925 | $83,112,171 | $108,586,931 | $174,692,773 |
| Stockholders Equity | $44,287,925 | $83,112,171 | $108,586,931 | $174,692,773 |
| Retained Earnings | $-853,358,544 | $-751,568,251 | $-627,649,062 | $-510,374,844 |
| Gains Losses Not Affecting Retained Earnings | - | - | $0 | $-1,402,500 |
| Other Equity Adjustments | - | - | - | $-1,402,500 |
Other
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Ordinary Shares Number | $320,277 | $95,326 | $55,201 | $50,638 |
| Share Issued | $320,277 | $95,326 | $55,201 | $50,638 |
| Tangible Book Value | $44,287,925 | $83,112,171 | $108,586,931 | $174,692,773 |
| Invested Capital | $54,779,717 | $103,292,271 | $108,586,931 | $199,397,773 |
| Working Capital | $8,195,883 | $40,543,451 | $76,047,785 | $188,672,302 |
| Capital Lease Obligations | $5,829,338 | $8,841,138 | $10,125,094 | $1,554,767 |
| Total Capitalization | $44,287,925 | $83,112,171 | $108,586,931 | $199,397,773 |
| Additional Paid In Capital | $897,642,626 | $834,679,279 | $736,070,388 | $686,318,201 |
| Capital Stock | $3,843 | $1,143 | $165,605 | $151,916 |
| Common Stock | $3,843 | $1,143 | $165,605 | $151,916 |
| Long Term Capital Lease Obligation | $4,316,908 | $5,280,526 | $8,840,062 | $1,191,053 |
| Current Deferred Revenue | $6,350,581 | $4,714,331 | $3,375,000 | $0 |
| Current Capital Lease Obligation | $1,512,430 | $3,560,612 | $1,285,032 | $363,714 |
| Pensionand Other Post Retirement Benefit Plans Current | $4,507,561 | $2,083,808 | $4,967,187 | $4,030,085 |
| Current Provisions | $1,963,414 | $1,902,647 | $2,207,674 | $4,583,916 |
| Current Accrued Expenses | $2,604,406 | $2,437,018 | $35,000,000 | $10,722,742 |
| Net PPE | $40,232,639 | $47,672,936 | $33,207,898 | $9,436,659 |
| Accumulated Depreciation | $-16,322,718 | $-9,161,522 | $-5,441,218 | $-5,359,072 |
| Gross PPE | $56,555,357 | $56,834,458 | $38,649,116 | $14,795,731 |
| Construction In Progress | $729,716 | $1,104,010 | $9,027,020 | $927,537 |
| Other Properties | $15,765,412 | $17,840,544 | $12,396,089 | $6,610,219 |
| Machinery Furniture Equipment | $25,177,706 | $23,081,818 | $8,183,089 | - |
| Buildings And Improvements | $12,751,981 | $12,677,544 | $8,167,736 | $6,396,800 |
| Land And Improvements | $2,130,542 | $2,130,542 | $875,182 | $861,175 |
| Properties | $0 | $0 | $0 | $0 |
| Inventories Adjustments Allowances | $-11,577,656 | $-8,476,290 | $-59,162,512 | $-76,997,892 |
| Finished Goods | $20,587,424 | $18,309,829 | $301,645 | $0 |
| Work In Process | $2,333,989 | $2,892,329 | $25,210,131 | $20,826,644 |
| Raw Materials | $30,495,263 | $32,682,324 | $42,500,878 | $66,238,615 |
| Treasury Shares Number | - | $0 | - | - |
| Preferred Stock | - | $0 | $0 | $0 |
| Non Current Deferred Revenue | - | $0 | $2,005,000 | $0 |
| Investments And Advances | - | $0 | $10,000,000 | $0 |
Cash Flow Statement (Annual)
Free Cash Flow
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Free Cash Flow | $-51,654,317 | $-141,711,500 | $-111,315,459 | $-137,891,301 |
Operating Activities
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | $-47,590,024 | $-123,024,049 | $-93,818,664 | $-132,577,103 |
| Cash Flow From Continuing Operating Activities | $-47,590,024 | $-123,024,049 | $-93,818,664 | $-132,577,103 |
| Operating Gains Losses | $5,778,660 | - | $379,406 | $-1,411,000 |
Investing Activities
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Capital Expenditure | $-4,064,293 | $-18,687,451 | $-17,496,795 | $-5,314,198 |
| Investing Cash Flow | $-4,064,293 | $-18,687,451 | $-20,019,519 | $99,812,549 |
| Cash Flow From Continuing Investing Activities | $-4,064,293 | $-18,687,451 | $-20,019,519 | $99,812,549 |
| Capital Expenditure Reported | $-4,064,293 | $-18,687,451 | $-17,496,795 | $-5,314,198 |
Financing Activities
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Issuance Of Capital Stock | $7,344,487 | $62,155,939 | $12,884,243 | $0 |
| Financing Cash Flow | $20,453,340 | $78,281,114 | $11,467,090 | $-6,817,119 |
| Cash Flow From Continuing Financing Activities | $20,453,340 | $78,281,114 | $11,467,090 | $-6,817,119 |
| Net Common Stock Issuance | $7,344,487 | $62,155,939 | $12,884,243 | $0 |
| Common Stock Issuance | $7,344,487 | $62,155,939 | $12,884,243 | $0 |
| Repurchase Of Capital Stock | - | - | $0 | $0 |
| Net Other Financing Charges | - | - | $-857,516 | $-2,387,956 |
| Net Preferred Stock Issuance | - | - | $0 | $0 |
| Dividend Received Cfo | - | - | $0 | $0 |
Other
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Repayment Of Debt | $-20,825,060 | $-879,444 | $-857,516 | $0 |
| Issuance Of Debt | $34,112,500 | $17,500,000 | $0 | $0 |
| End Cash Position | $4,644,938 | $35,845,915 | $99,276,301 | $201,647,394 |
| Beginning Cash Position | $35,845,915 | $99,276,301 | $201,647,394 | $241,229,067 |
| Changes In Cash | $-31,200,977 | $-63,430,386 | $-102,371,093 | $-39,581,673 |
| Proceeds From Stock Option Exercised | $-178,587 | $-495,381 | $-559,637 | $-4,429,163 |
| Net Issuance Payments Of Debt | $13,287,440 | $16,620,556 | $-857,516 | $0 |
| Net Long Term Debt Issuance | $13,287,440 | $16,620,556 | $-857,516 | $0 |
| Long Term Debt Payments | $-20,825,060 | $-879,444 | $-857,516 | $0 |
| Long Term Debt Issuance | $34,112,500 | $17,500,000 | $0 | $0 |
| Change In Working Capital | $5,340,507 | $-43,066,285 | $-12,008,582 | $-53,417,431 |
| Change In Other Current Liabilities | $-1,041,238 | $-305,027 | $-2,376,242 | $-207,040 |
| Change In Payables And Accrued Expense | $4,700,219 | $-2,227,029 | $33,676,050 | $11,832,284 |
| Change In Prepaid Assets | $709,721 | $-890,626 | $-9,665,250 | $4,489,362 |
| Change In Inventory | $-1,332,074 | $-39,294,091 | $-16,629,172 | $-69,606,432 |
| Change In Receivables | $2,303,879 | $-349,512 | $-16,929,567 | $982,388 |
| Changes In Account Receivables | $2,303,879 | $-349,512 | $-16,929,567 | $982,388 |
| Other Non Cash Items | $19,743,566 | $7,677,425 | $3,962,312 | $7,426,893 |
| Stock Based Compensation | $10,060,997 | $13,422,135 | $11,460,211 | $4,943,380 |
| Provisionand Write Offof Assets | $5,368,071 | $8,798,690 | $17,716,995 | $98,918,102 |
| Asset Impairment Charge | $0 | $10,000,000 | $0 | $6,803,280 |
| Depreciation Amortization Depletion | $7,908,468 | $4,063,175 | $1,945,212 | $1,908,419 |
| Depreciation And Amortization | $7,908,468 | $4,063,175 | $1,945,212 | $1,908,419 |
| Gain Loss On Investment Securities | $5,778,660 | - | - | - |
| Net Income From Continuing Operations | $-101,790,293 | $-123,919,189 | $-117,274,218 | $-401,344,813 |
| Net Business Purchase And Sale | - | $0 | $-5,000,000 | $0 |
| Purchase Of Business | - | $0 | $-5,000,000 | - |
| Net PPE Purchase And Sale | - | $0 | $2,477,276 | $0 |
| Sale Of PPE | - | $0 | $2,477,276 | $0 |
| Change In Other Working Capital | - | $-180,000 | $-1,876,242 | $-816,084 |
| Change In Other Current Assets | - | $0 | $-84,401 | $-91,909 |
| Change In Payable | - | $-2,227,029 | $33,676,050 | $11,832,284 |
| Change In Account Payable | - | $-2,227,029 | $33,676,050 | $11,832,284 |
| Depreciation | - | $4,063,175 | $1,945,212 | $1,908,419 |
| Gain Loss On Sale Of PPE | - | $0 | $379,406 | $0 |
| Preferred Stock Payments | - | - | $0 | $0 |
| Net Investment Purchase And Sale | - | - | $-5,000,000 | $105,126,747 |
| Sale Of Investment | - | - | $0 | $105,126,747 |
| Purchase Of Investment | - | - | $-5,000,000 | $0 |
| Unrealized Gain Loss On Investment Securities | - | - | $0 | $225,429,997 |
| Deferred Tax | - | - | $0 | $-21,833,930 |
| Deferred Income Tax | - | - | $0 | $-21,833,930 |
| Sale Of Business | - | - | - | $0 |
| Gain Loss On Sale Of Business | - | - | - | $0 |