Workhorse Group Inc. (WKHS) AI Stock Analysis

Workhorse Group Inc. specializes in the design, manufacturing, and distribution of zero-emission commercial vehicles across the United States. Its core product lineup features electric and range-extended medium-duty delivery trucks marketed under the Workhorse brand. The company has also created the HorseFly Unmanned Aerial System, an all-electric drone tailored for custom delivery uses, alongside Metron, a real-time vehicle monitoring and performance optimization technology. Headquartered in Loveland, Ohio, the company was established in 2007 as AMP Holding Inc. and took on the Workhorse Group Inc. name in April 2015 to focus on sustainable fleet solutions.

Workhorse generated revenue of $21.2M in FY2025, up 220.6% from $6.6M in FY2024, following $13.1M in FY2023, $5.0M in FY2022, and -$851,922 in FY2021. Gross margin improved from -335.9% in FY2024 to -45.0% in FY2025, while operating margin shifted from -1116.7% to -223.7%. Net income was -$64.1M in FY2025, up from -$101.8M in FY2024 and -$401.3M in FY2021. For the trailing twelve months ending June 30, 2026, revenue stood at $27.2M, with an operating margin of -545.2% and EPS of -$6.61. In the latest quarter ended June 30, 2026, quarterly revenue grew 374.9% year-over-year.

As of June 30, 2026, Workhorse held $9.6M in cash and short-term investments against $27.9M in total debt, resulting in net debt of $18.2M. Total assets were $110.1M, and shareholders' equity was $7.2M, producing a debt-to-equity ratio of 3.88 and a current ratio of 1.28. In FY2025, operating cash flow was -$35.6M and free cash flow was -$36.2M, with capital expenditures of $603,000. Over five years, the company's share count increased 21350.6%.

Workhorse trades at an enterprise value of $99.6M and a market capitalization of $28.9M. Its price-to-sales ratio is 1.1x and EV-to-revenue is 3.7x, compared to the median of its US-listed Consumer Cyclical peers of 0.7x for price-to-sales. Price-to-book stands at 4.6x. The stock closed at $2.64 on October 16, 2026, reflecting a 1-year return of -78.8% and a 5-year return of -100.0%, trailing the S&P 500 benchmark returns of 16.8% and 83.0% over the same periods.

Consensus ratings include 0 Strong Buy, 0 Buy, 2 Hold, 0 Sell, and 0 Strong Sell recommendations. The mean price target is $3.00, representing a 13.6% premium over the last close of $2.64. For the fiscal year ending December 31, 2026, analysts estimate an EPS of -$4.21 and revenue of $34.3M. For the next fiscal year, the consensus estimates EPS of -$1.96 and revenue of $57.6M. Over the last four quarters, Workhorse beat EPS estimates 2 times. The next earnings date is November 12, 2026.

This page is an AI-written research summary of Workhorse Group Inc. (WKHS). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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