Workhorse Group Inc. logo

Workhorse Group Inc.

WKHS

NASDAQConsumer CyclicalAuto - Manufacturers

Regular session

$3.1865

−$0.0435 · -1.35%

Aug 24, 10:10 AM ET

WKHS company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

52

Fair Value

Momentum

17

Strong Down

Sentiment

42

Mixed

Risk resilience

14

Extreme Risk

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Company profile

Company website

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.

Industry
Auto - Manufacturers
Sector
Consumer Cyclical
Headquarters
US
CEO
Scott W. Griffith
Listed since
Jun 2, 2010
Employees
148

Market position

Day range

Current $3.1865

52-week range

Current $3.1865

Open
$3.26
Previous close
$3.23
Volume
10.97K
0.06× average
Average volume
170.45K
Average daily volume
Market cap
34.71M USD
Beta
2.57
Market reference 1
50-day average
$2.9472
+8.12% above average
200-day average
$4.3679
-27.05% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
73.13M USD
P/E (TTM)
-0.49×
P/B (TTM)
4.82×
P/S (TTM)
1.52×
EV / EBITDA
-1.61×
Earnings yield
-132.88%
Free cash flow yield
-74.97%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
-55.30%
Operating margin
-266.09%
Net margin
-301.49%
Return on equity
-148.89%
Return on assets
-54.36%
Return on invested capital
-57.39%

Financial health

Debt / equity
3.88×
Current ratio
1.54×
Altman Z-score
-5.7
Piotroski F-score
3 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends52079%32206%12334%-7538%Gross margin, FY2021: 14853.56%Gross margin, FY2022: -649.99%Gross margin, FY2023: -192.87%Gross margin, FY2024: -335.92%Gross margin, FY2025: -45.05%Operating margin, FY2021: 21729.08%Operating margin, FY2022: -2569.80%Operating margin, FY2023: -804.13%Operating margin, FY2024: -1116.73%Operating margin, FY2025: -223.66%Net margin, FY2021: 47110.51%Net margin, FY2022: -2334.71%Net margin, FY2023: -946.33%Net margin, FY2024: -1538.46%Net margin, FY2025: -302.14%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 14853.56%. Gross margin FY2022 -649.99%. Gross margin FY2023 -192.87%. Gross margin FY2024 -335.92%. Gross margin FY2025 -45.05%. Operating margin FY2021 21729.08%. Operating margin FY2022 -2569.80%. Operating margin FY2023 -804.13%. Operating margin FY2024 -1116.73%. Operating margin FY2025 -223.66%. Net margin FY2021 47110.51%. Net margin FY2022 -2334.71%. Net margin FY2023 -946.33%. Net margin FY2024 -1538.46%. Net margin FY2025 -302.14%.

Income trends

Revenue

21.21M USD+220.58%

Operating income

−47.44M USD+35.79%

Net income

−64.09M USD+37.04%
Income trends across reported periods63.47M USD−105.56M USD−274.58M USD−443.6M USDRevenue, FY2021: −851.92K USDRevenue, FY2022: 5.02M USDRevenue, FY2023: 13.09M USDRevenue, FY2024: 6.62M USDRevenue, FY2025: 21.21M USDOperating income, FY2021: −185.11M USDOperating income, FY2022: −129.08M USDOperating income, FY2023: −105.3M USDOperating income, FY2024: −73.89M USDOperating income, FY2025: −47.44M USDNet income, FY2021: −401.34M USDNet income, FY2022: −117.27M USDNet income, FY2023: −123.92M USDNet income, FY2024: −101.79M USDNet income, FY2025: −64.09M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 −851.92K USD. Revenue FY2022 5.02M USD. Revenue FY2023 13.09M USD. Revenue FY2024 6.62M USD. Revenue FY2025 21.21M USD. Operating income FY2021 −185.11M USD. Operating income FY2022 −129.08M USD. Operating income FY2023 −105.3M USD. Operating income FY2024 −73.89M USD. Operating income FY2025 −47.44M USD. Net income FY2021 −401.34M USD. Net income FY2022 −117.27M USD. Net income FY2023 −123.92M USD. Net income FY2024 −101.79M USD. Net income FY2025 −64.09M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue21.21M USD6.62M USD13.09M USD5.02M USD−851.92K USD
Cost of goods sold30.77M USD28.84M USD38.35M USD37.67M USD125.69M USD
Gross profit−9.56M USD−22.23M USD−25.26M USD−32.65M USD−126.54M USD
Research and development13.16M USD9.15M USD24.47M USD23.21M USD11.61M USD
Selling, general, and administrative24.72M USD42.51M USD54.67M USD73.22M USD
Operating expenses37.89M USD51.66M USD80.04M USD96.43M USD58.57M USD
Interest income264.68K USD
Interest expense17.42M USD22.24M USD8.73M USD332.71K USD6.74M USD
Depreciation and amortization1.24M USD7.91M USD4.06M USD1.95M USD1.91M USD
Operating income−47.44M USD−73.89M USD−105.3M USD−129.08M USD−185.11M USD
Net income−64.09M USD−101.79M USD−123.92M USD−117.27M USD−401.34M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 6 misses, 1 met estimate
Average EPS surprise
-1384.38%
11 comparable reports
Latest EPS result
-1.86
Estimate -0.95 · Miss by 95.93%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates43.610.37-22.87-56.1Q1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 31, 2025: actual 36.72, estimate -6.25, surprise +687.52%, Beat. Q2 2025, reported May 15, 2025: actual -49.22, estimate -48.02, surprise -2.50%, Miss. Q3 2025, reported Aug 15, 2025: actual -20.05, estimate -47.78, surprise +58.04%, Beat. Q4 2025, reported Nov 10, 2025: actual -16.69, estimate -17.41, surprise +4.14%, Beat. Q1 2026, reported Mar 31, 2026: actual -2.35, estimate -8.88, surprise +73.54%, Beat. Q2 2026, reported May 14, 2026: actual -1.99, estimate -1.7, surprise -17.06%, Miss. Q3 2026, reported Aug 13, 2026: actual -1.86, estimate -0.949, surprise -95.93%, Miss. Q4 2026, reported Nov 10, 2026: actual —, estimate -0.612, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates10.47M7.16M3.85M544.78KQ1 '25MissQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 31, 2025: actual 1.93M USD, estimate 3.07M USD, surprise -37.15%, Miss. Q2 2025, reported May 15, 2025: actual 640.92K USD, estimate 2M USD, surprise -67.95%, Miss. Q3 2025, reported Aug 15, 2025: actual 5.67M USD, estimate 2.3M USD, surprise +146.50%, Beat. Q4 2025, reported Nov 10, 2025: actual 2.38M USD, estimate 2.5M USD, surprise -4.60%, Miss. Q1 2026, reported Mar 31, 2026: actual 9.74M USD, estimate 2.5M USD, surprise +289.72%, Beat. Q2 2026, reported May 14, 2026: actual 4.33M USD, estimate 8.52M USD, surprise -49.19%, Miss. Q3 2026, reported Aug 13, 2026: actual 3.56M USD, estimate 5.33M USD, surprise -33.12%, Miss. Q4 2026, reported Nov 10, 2026: actual —, estimate 9.15M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$24.00

653.18% upside
Past 12 months12-month forecastHigh $42.00Average $24.00Low $6.00

Rating distribution

12 ratings
Strong buy00%
Buy325%
Hold867%
Sell18%
Strong sell00%

Recent analyst actions

5 institutions
Roth CapitalmaintainNeutral
DA DavidsonmaintainNeutral
BTIGdowngradeBuyNeutral

WKHS news

Corporate actions

Corporate action history

Stock split

Effective Dec 8, 2025

1:12

Stock split

Effective Mar 17, 2025

2:25

Stock split

Effective Jun 17, 2024

1:20

Stock split

Effective Dec 11, 2015

1:10

WKHS peers

ETFs holding WKHS

Funds reporting this stock among their holdings, ordered by reported position size.

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