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WKHS · Nasdaq · United States · Motor Vehicles & Passenger Car Bodies
In shortWorkhorse Group Inc. is loss-making, burns cash and carries moderate debt, with revenue growing (+201.1% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -223.7% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -302.1% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -5768.3% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -64.1% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.54× | 62/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.36× | 91/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -9.76 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -170.5% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 0 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 4 | 17/100 |
| Revenue growth volatility | 171.7% | 0/100 |
| Operating margin volatility | 10225.4% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 61.6% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | (0.9) | 5 | 13 | 7 | 21 |
| Cost of revenue | 132 | 38 | 38 | 13 | 31 |
| Gross profit | (133) | (33) | (25) | (6.1) | (9.6) |
| Research & development | 12 | 23 | 24 | 13 | 13 |
| Selling, general & admin | 40 | 73 | 56 | 16 | 25 |
| Operating income | (185) | (129) | (105) | (41) | (47) |
| Pre-tax income | (423) | (117) | (124) | (52) | (64) |
| Income tax | (22) | 0 | (0.1) | 0 | 0 |
| Net income | (401) | (117) | (124) | (52) | (64) |
| Diluted EPS | −$3.12 | −$0.74 | −$149.45 | −$9.43 | −$6.76 |
| Diluted shares (millions) | 129 | 159 | 0.8 | 5.5 | 9.5 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
−9.76 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 13, 2026