Worksport Ltd. (WKSP) AI Stock Analysis

Worksport Ltd., headquartered in Vaughan, Canada, designs, manufactures, and distributes pickup truck tonneau covers across Canada and the United States. Its product line features the soft cover (SC) and tough cover (TC) series, including the SC3 tri-fold cover, the SC3pro with an access release cable, and the aluminum tri-panel TC3. The company is also developing TerraVis, a solar tonneau cover system designed to deliver portable power to pickup truck owners. Worksport distributes its products through a network of wholesalers, online retail channels, private labels, and original equipment manufacturers.

Annual revenue rose from $303,750 in FY2021 and $116,502 in FY2022 to $1.5M in FY2023, $8.5M in FY2024, and $16.1M in FY2025, which marked an 89.8% increase. Gross margin improved to 27.8% in FY2025 from 10.7% in FY2024, while operating margin was -115.0%. Net loss widened to -$19.4M in FY2025, corresponding to an EPS of -$3.23. Over the trailing twelve months ending June 30, 2026, revenue totaled $18.3M with an operating margin of -73.0% and a profit margin of -114.5%. For the latest quarter ended June 30, 2026, revenue increased 27.4% year-over-year.

As of June 30, 2026, Worksport held $1.2M in cash and short-term investments and $5.5M in total debt, resulting in net debt of $4.3M. Total assets were $28.1M and shareholders' equity was $19.1M, supported by a current ratio of 3.79 and a debt-to-equity ratio of 0.29. Operating cash flow was -$17.3M and free cash flow was -$18.1M in FY2025. Capital expenditures totaled $789,460 in FY2025, while the five-year change in share count was 3.1%.

Worksport trades at a price-to-sales ratio of 0.4x and an enterprise value to revenue multiple of 0.6x, compared to a median price-to-sales of 0.7x for its US-listed Consumer Cyclical peers. Its price-to-book ratio is 0.4x, with a market capitalization of $7.1M and an enterprise value of $11.1M. Over the past year, the stock fell 88.8%, underperforming the S&P 500 (SPY), which gained 16.8%. Over five years, the stock fell 99.4%, while the index gained 83.0%.

Wall Street coverage includes 1 Buy rating, with 0 Strong Buy, 0 Hold, 0 Sell, and 0 Strong Sell ratings. The mean price target is $2.00, which is 466.6% above the last close of $0.35 on October 16, 2026. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $36.2M and an EPS of -$1.02. For the following fiscal year, 1 analyst expects revenue of $39.2M and an EPS of -$0.72. Worksport beat EPS estimates in 1 of the last 4 quarters, and its next earnings date is November 12, 2026.

This page is an AI-written research summary of Worksport Ltd. (WKSP). 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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