NasdaqCM:WKHS

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Executive Summary

Workhorse Group Inc., a technology company, designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States. More Details


Snowflake Analysis

High growth potential with worrying balance sheet.


Similar Companies

Share Price & News

How has Workhorse Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: WKHS is more volatile than 90% of US stocks over the past 3 months, typically moving +/- 16% a week.

Volatility Over Time: WKHS's weekly volatility (16%) has been stable over the past year, but is still higher than 75% of US stocks.


Market Performance


7 Day Return

-12.1%

WKHS

0.1%

US Auto Components

1.3%

US Market


1 Year Return

787.1%

WKHS

16.0%

US Auto Components

21.0%

US Market

Return vs Industry: WKHS exceeded the US Auto Components industry which returned 19.4% over the past year.

Return vs Market: WKHS exceeded the US Market which returned 20.9% over the past year.


Shareholder returns

WKHSIndustryMarket
7 Day-12.1%0.1%1.3%
30 Day65.0%21.2%12.1%
90 Day25.9%21.9%4.8%
1 Year787.1%787.1%17.0%16.0%23.7%21.0%
3 Year839.6%839.6%-1.5%-12.0%46.6%36.8%
5 Year297.0%297.0%32.4%11.2%94.6%73.2%

Long-Term Price Volatility Vs. Market

How volatile is Workhorse Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Workhorse Group undervalued compared to its fair value and its price relative to the market?


Share Price vs. Fair Value

Below Fair Value: WKHS ($25.37) is trading above our estimate of fair value ($15.51)

Significantly Below Fair Value: WKHS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: WKHS is unprofitable, so we can't compare its PE Ratio to the US Auto Components industry average.

PE vs Market: WKHS is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate WKHS's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: WKHS has negative assets, so we can't compare its PB Ratio to the US Auto Components industry average.


Next Steps

Future Growth

How is Workhorse Group forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

72.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: WKHS is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

Earnings vs Market: WKHS is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: WKHS's is expected to become profitable in the next 3 years.

Revenue vs Market: WKHS's revenue (67.5% per year) is forecast to grow faster than the US market (10.3% per year).

High Growth Revenue: WKHS's revenue (67.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: WKHS's Return on Equity is forecast to be low in 3 years time (2.3%).


Next Steps

Past Performance

How has Workhorse Group performed over the past 5 years?

-46.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: WKHS is currently unprofitable.

Growing Profit Margin: WKHS is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: WKHS is unprofitable, and losses have increased over the past 5 years at a rate of 46.9% per year.

Accelerating Growth: Unable to compare WKHS's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: WKHS is unprofitable, making it difficult to compare its past year earnings growth to the Auto Components industry (-10.3%).


Return on Equity

High ROE: WKHS's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Next Steps

Financial Health

How is Workhorse Group's financial position?


Financial Position Analysis

Short Term Liabilities: WKHS has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: WKHS has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: WKHS has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: WKHS's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: WKHS has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if WKHS has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Workhorse Group current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate WKHS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate WKHS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if WKHS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if WKHS's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of WKHS's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Duane Hughes (56 yo)

1.75yrs

Tenure

US$1,839,573

Compensation

Mr. Duane A. Hughes is the Chief Executive Officer of Workhorse Group Inc. since February 4, 2019 and also serves as Treasurer. He was the President of Workhorse Group Inc. since September 6, 2015 until Fe...


CEO Compensation Analysis

Compensation vs Market: Duane's total compensation ($USD1.84M) is below average for companies of similar size in the US market ($USD5.17M).

Compensation vs Earnings: Duane's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Duane Hughes
CEO, Treasurer & Director1.75yrsUS$1.84m0.32%
$ 9.9m
Robert Willison
Chief Operating Officer1.75yrsUS$764.90k0.15%
$ 4.7m
Stephen Fleming
General Counsel & VP1yrUS$1.85m0.40%
$ 12.2m
Steve Schrader
Chief Financial Officer0.92yrno data0.15%
$ 4.6m
Gregory Ackerson
Corporate Controller1.83yrsno data0.095%
$ 2.9m
Stephen Burns
Co-Founder & Consultantno dataUS$390.00k0.67%
$ 20.6m

1.8yrs

Average Tenure

56.5yo

Average Age

Experienced Management: WKHS's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Duane Hughes
CEO, Treasurer & Director1.75yrsUS$1.84m0.32%
$ 9.9m
Jacqueline Dedo
Independent Director0.50yrno data0.0099%
$ 303.0k
Harry DeMott
Independent Director4.17yrsUS$101.66k0.049%
$ 1.5m
H. Samuels
Independent Director4.92yrsUS$101.66k1.29%
$ 39.6m
Gerald Budde
Independent Director4.92yrsUS$101.66k0.18%
$ 5.4m
Michael Clark
Independent Director2.17yrsUS$101.66k0.078%
$ 2.4m
Raymond Chess
Independent Chairman4.92yrsUS$118.33k0.12%
$ 3.6m
Pamela Mader
Independent Director0.50yrno data0.0033%
$ 100.0k

3.2yrs

Average Tenure

56.5yo

Average Age

Experienced Board: WKHS's board of directors are considered experienced (3.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: WKHS insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 75%.


Top Shareholders

Company Information

Workhorse Group Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Workhorse Group Inc.
  • Ticker: WKHS
  • Exchange: NasdaqCM
  • Founded: 2007
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: US$3.058b
  • Shares outstanding: 120.53m
  • Website: https://www.workhorse.com

Number of Employees


Location

  • Workhorse Group Inc.
  • 100 Commerce Drive
  • Loveland
  • Ohio
  • 45140
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
WKHSNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDDec 2009
1WODB (Deutsche Boerse AG)YesCommon StockDEEURDec 2009
1WOBST (Boerse-Stuttgart)YesCommon StockDEEURDec 2009
0A3ULSE (London Stock Exchange)YesCommon StockGBUSDDec 2009

Biography

Workhorse Group Inc., a technology company, designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States. The company also develops cloud-based and real-time telemat...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/01 00:53
End of Day Share Price2020/11/30 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.