Saturday 17 October 2026 Export WKHS’s income statement to Excel — free account

Workhorse Group, Inc.

WKHS Consumer Cyclical Auto Manufacturers

In the quarter to June 2026, revenue grew 374.9%, EPS fell 35.1%, free cash flow fell 159.6% and total debt fell 46.6%, each against the same quarter a year earlier.

2.63 0.27 −9.31%

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Market cap: $31.7M
P/E: 0.0×
Fwd P/E: −0.9×
Dividend yield: —
F-score: 4/9
Altman Z: −4.34
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.28

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	12	—	—	—	—	—	—	—	—	—	—

Insider Ownership 76.05%

Capital & Financial Ratios $m

Market Cap 31.69

Revenue 27.21

Net Income (78.64)

Free Cash Flow (55.03)

Net Debt 13.86

Current Ratio 1.28

Debt/Equity 3.37

P/E ratio 0.00

Fwd P/E (0.91)

P/S ratio 1.05

P/B ratio 3.98

Past 5Y EPS Growth —

This Y EPS Growth 37.74%

Next Y EPS Growth 53.51%

Next Y revenue growth 61.80%

Next 5Y EPS Growth 69.51%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 0.49%

10-year low 10-year high

P/B against its own 10 years 52.07%

10-year low 10-year high

EV/Sales against its own 10 years 2.93%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	36	7	13	10
Receivables	4	4	4	2
Inventory	45	21	39	38
Other	—	—	—	—
	94	34	60	56

	2023	2024	2025	Q'26
Payables	12	2	12	14
ST’ Debt	20	68	—	18
Other	8	1	7	3
	53	77	39	44

Compound Annual Growth %

	10y	5y	3y
Sales	65.21%	72.41%	61.63%
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	0.00%	(35.82%)	(26.54%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	4	4	—	—	—
’25	1	1	2	17	21
’24	1	1	3	2	7
’23	2	4	3	4	13
’22	0	0	2	3	5
’21	1	1	(1)	(2)	(1)
’20	0	0	1	1	1

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(17)	(24)	—	—	—
’25	(12)	(9)	(3)	(11)	(36)
’24	(18)	(12)	(10)	2	(38)
’23	(33)	(33)	(30)	(27)	(123)
’22	(31)	(25)	(11)	(28)	(94)
’21	(35)	(46)	(29)	(23)	(133)
’20	(8)	(10)	(20)	(33)	(70)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(17)	(24)	—	—	—
’25	(13)	(9)	16	(31)	(36)
’24	(21)	(13)	(10)	1	(43)
’23	(38)	(38)	(36)	(30)	(142)
’22	(34)	(27)	(15)	(33)	(109)
’21	(36)	(48)	(29)	(24)	(138)
’20	(8)	(10)	(21)	(37)	(76)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(1.99)	(1.86)	—	—	—
’25	(1.36)	(1.38)	(6.00)	(2.46)	(6.76)
’24	(300.12)	(210.08)	(228.08)	717.43	(9.43)
’23	(450.18)	(360.14)	(420.17)	(540.22)	(1.80k)
’22	(450.18)	(390.16)	(660.26)	(720.29)	(2.22k)
’21	(3.12k)	(1.05k)	(2.31k)	(3.39k)	(9.36k)
’20	180.07	(5.28k)	(2.34k)	9.66k	2.10k

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	12,420.00	5,550.00	1,110.00	1,506.00	3,945.00	12,990.00	4,200.00	1,035.00	85.95	5.01	Analyst estimates 2026–2028 Powerpack
	High	35,100.00	21,876.00	10,350.00	16,110.00	92,970.00	128,880.00	16,170.00	7,800.00	1,227.00	138.00
People
People	Employees	94	92	81	81	130	221	331	298	143	148
	Revenue/emp, $m	0.07	0.11	0.01	0.00	0.01	0.00	0.02	0.04	0.05	0.14
Income, $m
Income, $m	Revenue	6	10	1	0	1	(1)	5	13	7	21
	Gross margin, %	(111.67)	(144.23)	(1,990.36)	(1,452.02)	(838.39)	15,652.54	(649.98)	(192.87)	(87.25)	(45.05)
	EBT	(20)	(41)	(37)	(37)	92	(423)	(117)	(124)	(52)	(64)
	EBT margin, %	(304.86)	(410.59)	(4,782.80)	(9,867.98)	6,578.84	49,676.24	(2,334.70)	(947.17)	(732.35)	(302.12)
	Net income	(20)	(41)	(37)	(37)	70	(401)	(117)	(124)	(52)	(64)
	Depreciation	0	1	0	0	1	2	2	4	1	1
Per share, $
Per share, $	Revenue	763.67	778.18	45.43	17.60	45.06	(19.86)	95.13	189.51	1.29	2.24
	Earnings	(2,340.94)	(3,271.31)	(2,220.89)	(1,740.70)	2,250.90	(9,363.74)	(2,220.89)	(1,800.72)	(9.43)	(6.76)
	Cash flow	(2,265.98)	(2,997.09)	(1,294.89)	(1,722.98)	(2,274.40)	(3,090.38)	(1,776.87)	(1,780.38)	(6.98)	(3.75)
	Capex	(62.87)	(11.12)	(1.10)	(93.48)	(185.38)	(123.87)	(284.46)	(270.44)	(0.87)	(0.06)
	Free cash flow	(2,328.85)	(3,008.21)	(1,295.98)	(1,816.46)	(2,459.78)	(3,214.25)	(2,061.33)	(2,050.82)	(7.85)	(3.82)
	Book value	454.40	272.22	(918.00)	(1,631.45)	12,789.78	4,072.09	2,056.57	1,202.78	(7.47)	4.54
	Shares, m	0	0	0	0	0	0	0	0	5	9
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	24.72	0.00	0.00	0.00	0.00	0.00
	P/S	27.07	10.64	34.87	518.24	1,316.77	0.00	51.09	5.71	81.28	2.27
	P/B	45.49	30.42	0.00	0.00	4.64	3.21	2.36	0.90	0.00	1.12
	EV/Sales	27.33	10.92	45.53	555.81	1,286.53	(451.41)	33.34	5.10	90.04	3.20
	EV/FCF	(8.96)	(2.82)	(1.59)	(5.40)	(23.57)	(2.79)	(1.54)	(0.47)	(14.78)	(1.88)
Cash, $m
Cash, $m	Operating cash flow	(19)	(39)	(22)	(37)	(70)	(133)	(94)	(123)	(38)	(36)
	Capex	(1)	0	0	(2)	(6)	(5)	(15)	(19)	(5)	(1)
	Free cash flow	(20)	(39)	(22)	(39)	(76)	(138)	(109)	(142)	(43)	(36)
Balance, $m
Balance, $m	Working capital	0	4	(13)	(16)	273	189	76	41	(43)	21
	Total debt	2	7	10	39	199	25	10	20	68	5
	Net debt	2	3	8	14	(42)	(177)	(89)	(16)	62	(7)
	Shareholders’ equity	4	4	(15)	(35)	395	175	109	83	(41)	43
Returns, %
Returns, %	ROA	(157.19)	(308.23)	(257.88)	(118.96)	20.43	(93.26)	(57.08)	(76.39)	(57.61)	(82.53)
	ROIC	(221.11)	(407.37)	0.00	0.00	(7.25)	0.00	(415.10)	(97.58)	(123.39)	(83.40)
	ROE	(115,374.04)	(1,124.82)	612.93	147.66	38.73	(140.85)	(82.80)	(129.29)	(244.22)	(5,887.55)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
EMPD Empery Digital Inc.	$85.3M	1.1×	— (loss-making)	−57.94% (below 0%: shrinking)	n/m	+58.28% (above 0%: growing)	(85.25%)	(52,585.50%)	Compare
SEV Aptera Motors Corp.	$58.9M	— (loss-making)	—	—	n/m	−128.65% (below 0%: shrinking)	—	0.00%	Compare
CENN Cenntro Inc.	$55.4M	— (loss-making)	— (loss-making)	−2.89% (below 0%: shrinking)	n/m	+38.59% (above 0%: growing)	6.63%	(120.53%)	Compare
FSRNQ Fisker Inc.	$48.0M	— (loss-making)	—	+65,279.08% (above 0%: growing)	n/m	−44.26% (below 0%: shrinking)	(126.61%)	(144.37%)	Compare
GGR Gogoro Inc.	$46.4M	— (loss-making)	— (loss-making)	+7.30% (above 0%: growing)	n/m	+85.87% (above 0%: growing)	22.61%	(4.37%)	Compare
WKHS Workhorse Group, Inc.	$31.7M	— (loss-making)	— (loss-making)	+374.93% (above 0%: growing)	n/m	−159.63% (below 0%: shrinking)	(209.77%)	(545.20%)
AZIO Azio AI Holdings, Inc.	$18.2M	— (loss-making)	—	+154.34% (above 0%: growing)	n/m	−634.34% (below 0%: shrinking)	2.68%	(215.45%)	Compare
FABC Fabric.AI, Inc.	$15.4M	— (loss-making)	— (loss-making)	−96.13% (below 0%: shrinking)	n/m	−79.60% (below 0%: shrinking)	0.00%	0.00%	Compare
PEVM Phoenix Motor Inc.	$10.6M	— (loss-making)	—	−47.80% (below 0%: shrinking)	n/m	+32.51% (above 0%: growing)	26.86%	(78.76%)	Compare
Median of peers	$47.2M	—	—	−2.89%	—	−5.87%	2.68%	(99.65%)

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