Consumer Cyclical · Auto - Manufacturers
Price
$3.54
Market Cap
$38.6M
Employees
143
Beta
2.53
Avg Volume
158,228
CEO
Scott W. Griffith
Business Description
Workhorse Group Inc., a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers electric and range-extended medium-duty delivery trucks under the Workhorse brand; and HorseFly Unmanned Aerial System, a custom-designed purpose-built all-electric drone system. It also provides Metron, an air delivery application that tracks the performance of various the vehicles deployed. The company was formerly known as AMP Holding Inc. and changed its name to Workhorse Group Inc. in April 2015. Workhorse Group Inc. was founded in 2007 and is headquartered in Loveland, Ohio.
Business History
Price Overview
Last updated: May 14, 2026 3:09am (just now)$3.54
+0.12 (+3.51%)
Day Range
$3.41 – $3.70
52-Week Range
$2.31 – $67.32
50-Day MA
$3.05
200-Day MA
$8.63
Volume
152,890.00
Analyst Price Targets
Low
$6.00
Consensus
$24.00
High
$42.00
(3 analysts)
Share Structure
Outstanding
10,893,200.00
Float
10,843,505.00
Free Float
99.5%
High free float
— 99.5% of shares trade freely, ~0.5% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.52
Stock Price: $3.54
EPS (Diluted): -6.76
EPS (Diluted): -6.76
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.12
Stock Price: $3.54
Total Equity: $43.04M
Shares: 9,475,000
Total Equity: $43.04M
Shares: 9,475,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-1.22
Market Cap: $38.56M
Total Debt: $27.82M
Cash: $12.92M
EBITDA: -$46.21M
Total Debt: $27.82M
Cash: $12.92M
EBITDA: -$46.21M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$63.1M
Market Cap: $38.56M
Total Debt: $27.82M
Cash: $12.92M
Total Debt: $27.82M
Cash: $12.92M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
-45.0%
Gross Profit: -$9.56M
Revenue: $21.21M
Revenue: $21.21M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-223.7%
Operating Income: -$47.44M
Revenue: $21.21M
Revenue: $21.21M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-302.1%
Net Income: -$64.09M
Revenue: $21.21M
Revenue: $21.21M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-198.9%
Net Income: -$64.09M
Total Equity: $43.04M
Total Equity: $43.04M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-57.4%
Operating Income: -$47.44M
Tax Rate: 0.0%
Equity: $43.04M
Total Debt: $27.82M
Cash: $12.92M
Tax Rate: 0.0%
Equity: $43.04M
Total Debt: $27.82M
Cash: $12.92M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.54
Current Assets: $59.82M
Current Liabilities: $38.85M
Current Liabilities: $38.85M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.65
Short-Term Debt: $3.62M
Long-Term Debt: $24.21M
Total Debt: $27.82M
Total Equity: $43.04M
Long-Term Debt: $24.21M
Total Debt: $27.82M
Total Equity: $43.04M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$2.24
Revenue: $21.21M
Shares: 9,475,000
Shares: 9,475,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$4.54
Total Equity: $43.04M
Shares: 9,475,000
Shares: 9,475,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-3.82
Operating CF: -$35.55M
CapEx: -$603,000
Shares: 9,475,000
CapEx: -$603,000
Shares: 9,475,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $3.54
Stock Price: $3.54
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$64.09M
Net Income: -$64.09M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares WKHS against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: May 9, 2026 3:59pm (4d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $-851,922 | $5.0M | $13.1M | $6.6M | $21.2M |
| Cost of Revenue | $125.7M | $37.7M | $38.4M | $28.8M | $30.8M |
| Gross Profit | -$126.5M | -$32.6M | -$25.3M | -$22.2M | -$9.6M |
| Operating Expenses | $58.6M | $96.4M | $80.0M | $51.7M | $37.9M |
| Operating Income | -$185.1M | -$129.1M | -$105.3M | -$73.9M | -$47.4M |
| Net Income | -$401.3M | -$117.3M | -$123.9M | -$101.8M | -$64.1M |
| EBITDA | -$176.4M | -$127.1M | -$100.3M | -$71.8M | -$46.2M |
| EPS | $-779.76 | $-184.89 | $-149.45 | $-51.69 | $-6.76 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: May 9, 2026 3:59pm (4d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $201.6M | $99.3M | $25.8M | $4.1M | $12.9M |
| Total Current Assets | $216.2M | $139.4M | $93.8M | $53.4M | $59.8M |
| Total Assets | $228.1M | $182.7M | $141.7M | $93.8M | $117.9M |
| Current Liabilities | $27.6M | $63.3M | $53.3M | $45.2M | $38.9M |
| Long-Term Debt | $24.7M | $0 | $0 | $0 | $24.2M |
| Total Liabilities | $53.4M | $74.2M | $58.6M | $49.6M | $74.9M |
| Total Equity | $174.7M | $108.6M | $83.1M | $44.3M | $43.0M |
| Retained Earnings | -$510.4M | -$627.6M | -$751.6M | -$853.4M | -$319.0M |
Cash Flow (Annual)
Last updated: May 9, 2026 3:59pm (4d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$132.6M | -$93.8M | -$123.0M | -$47.6M | -$35.6M |
| Capital Expenditure | -$5.3M | -$17.5M | -$18.7M | -$4.1M | $-603,000 |
| Free Cash Flow | -$137.9M | -$111.3M | -$141.7M | -$51.7M | -$36.2M |
| Acquisitions (net) | $0 | -$5.0M | $0 | $0 | $10.4M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$4.4M | $0 | $0 | $-178,587 | $0 |
| Net Change in Cash | -$39.6M | -$102.4M | -$63.4M | -$31.2M | $6.3M |
Analyst Estimates (Annual)
Last updated: May 14, 2026 3:09am (just now)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$7.8M $7.7M – $7.8M
|
$11.2M $11.1M – $11.3M
|
$39.3M $39.1M – $39.5M
|
$50.7M $50.4M – $51.0M
|
| EBITDA |
-$4.7M -$4.7M – -$4.6M
|
-$6.7M -$6.8M – -$6.7M
|
-$23.6M -$23.7M – -$23.5M
|
-$30.4M -$30.6M – -$30.3M
|
| Net Income |
-$3.5B -$3.5B – -$3.4B
|
-$561.7M -$565.4M – -$558.0M
|
-$38.5M -$38.7M – -$38.2M
|
-$15.1M -$15.2M – -$15.0M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: May 9, 2026 3:59pm (4d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +689.6% | +160.7% | -49.5% | +220.6% |
| Gross Profit Growth | +74.2% | +22.6% | +12.0% | +57.0% |
| Operating Income Growth | +30.3% | +18.4% | +29.8% | +35.8% |
| Net Income Growth | +70.8% | -5.7% | +17.9% | +37.0% |
| EBITDA Growth | +27.9% | +21.1% | +28.5% | +35.6% |
Insider Trading (Recent)
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2025-12-15 | Griffin James Francis | 0.00 | $0.00 | $0 | |
| 2025-12-15 | Zion William Scott | 0.00 | $0.00 | $0 | |
| 2025-12-15 | Motive GM Holdings II, LLC | 0.00 | $0.00 | $0 | |
| 2025-12-15 | QUIGLEY WILLIAM G III | M-Exempt | 5,051.00 | $0.00 | $0 |
| 2025-12-15 | QUIGLEY WILLIAM G III | S-Sale | 5,051.00 | $6.51 | $32,882 |
| 2025-12-15 | QUIGLEY WILLIAM G III | M-Exempt | 5,051.00 | $0.00 | $0 |
| 2025-12-15 | Henricks Alan S. | M-Exempt | 1,894.00 | $0.00 | $0 |
| 2025-12-15 | Henricks Alan S. | M-Exempt | 1,894.00 | $0.00 | $0 |
| 2025-12-15 | Henricks Alan S. | S-Sale | 1,894.00 | $6.51 | $12,330 |
| 2025-12-15 | Griffith Scott W. | 0.00 | $0.00 | $0 | |
| 2025-12-15 | O'Leary Matthew C. | 0.00 | $0.00 | $0 | |
| 2025-12-15 | Savoie Paul Timothy | 0.00 | $0.00 | $0 | |
| 2025-12-15 | Ujkashevic Fildeza | 0.00 | $0.00 | $0 | |
| 2025-12-15 | Anderson Joshua Joseph | M-Exempt | 165.00 | $0.00 | $0 |
| 2025-12-15 | Anderson Joshua Joseph | M-Exempt | 110.00 | $0.00 | $0 |
| 2025-12-15 | Anderson Joshua Joseph | M-Exempt | 21.00 | $0.00 | $0 |
| 2025-12-15 | Anderson Joshua Joseph | S-Sale | 165.00 | $6.51 | $1,074 |
| 2025-12-15 | Anderson Joshua Joseph | M-Exempt | 165.00 | $0.00 | $0 |
| 2025-12-15 | Anderson Joshua Joseph | M-Exempt | 110.00 | $0.00 | $0 |
| 2025-12-15 | March Stanley Raymond | M-Exempt | 158.00 | $0.00 | $0 |
No community reviews yet for WKHS.
Be the first — export the analysis to your AI and contribute back.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.207 · 22a3a690 · 2026-05-13 17:39:54