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Worksport NasdaqCM:WKSP Stock Report

Last Price

US$0.83

Market Cap

US$27.2m

7D

-21.3%

1Y

-40.0%

Updated

20 Dec, 2024

Data

Company Financials +

Worksport Ltd.

NasdaqCM:WKSP Stock Report

Market Cap: US$27.2m

WKSP Stock Overview

Through its subsidiary, designs and distributes truck tonneau covers in Canada and the United States. More details

WKSP fundamental analysis
Snowflake Score
Valuation4/6
Future Growth2/6
Past Performance0/6
Financial Health6/6
Dividends0/6

Rewards

Trading at 58.4% below our estimate of its fair value

Revenue is forecast to grow 80.96% per year

Risk Analysis

Highly volatile share price over the past 3 months compared to the US market

Shareholders have been substantially diluted in the past year

Currently unprofitable and not forecast to become profitable over the next 3 years

Does not have a meaningful market cap ($27M)


My Notes

Capture your thoughts, links and company narrative

Worksport Ltd. Competitors

Sypris Solutions

NasdaqGM:SYPR

US$52.5m

Mingteng International

NasdaqCM:MTEN

US$35.9m

Solid Power

NasdaqGS:SLDP

US$203.8m

Kandi Technologies Group

NasdaqGS:KNDI

US$82.6m

Price History & Performance

Summary of share price highs, lows and changes for Worksport
Historical stock prices
Current Share PriceUS$0.83
52 Week HighUS$1.66
52 Week LowUS$0.36
Beta0.56
1 Month Change66.95%
3 Month Change85.47%
1 Year Change-39.96%
3 Year Change-71.42%
5 Year Change-34.80%
Change since IPO-94.65%

Recent News & Updates

Increases to Worksport Ltd.'s (NASDAQ:WKSP) CEO Compensation Might Cool off for now

Nov 29
Increases to Worksport Ltd.'s (NASDAQ:WKSP) CEO Compensation Might Cool off for now

Recent updates

Increases to Worksport Ltd.'s (NASDAQ:WKSP) CEO Compensation Might Cool off for now

Nov 29
Increases to Worksport Ltd.'s (NASDAQ:WKSP) CEO Compensation Might Cool off for now

Health Check: How Prudently Does Worksport (NASDAQ:WKSP) Use Debt?

Sep 27
Health Check: How Prudently Does Worksport (NASDAQ:WKSP) Use Debt?

Is Worksport (NASDAQ:WKSP) Using Debt Sensibly?

May 11
Is Worksport (NASDAQ:WKSP) Using Debt Sensibly?

Worksport expects $350K-$450K revenue from pre-order sales of SOLIS, COR

Aug 18

An Intrinsic Calculation For Worksport Ltd. (NASDAQ:WKSP) Suggests It's 45% Undervalued

Feb 16
An Intrinsic Calculation For Worksport Ltd. (NASDAQ:WKSP) Suggests It's 45% Undervalued

Calculating The Intrinsic Value Of Worksport Ltd. (NASDAQ:WKSP)

Oct 28
Calculating The Intrinsic Value Of Worksport Ltd. (NASDAQ:WKSP)

Shareholder Returns

WKSPUS Auto ComponentsUS Market
7D-21.3%-4.4%-2.4%
1Y-40.0%-29.6%23.3%

Return vs Industry: WKSP underperformed the US Auto Components industry which returned -29.7% over the past year.

Return vs Market: WKSP underperformed the US Market which returned 22.1% over the past year.

Price Volatility

Is WKSP's price volatile compared to industry and market?
WKSP volatility
WKSP Average Weekly Movement18.7%
Auto Components Industry Average Movement7.1%
Market Average Movement6.3%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.1%

Stable Share Price: WKSP's share price has been volatile over the past 3 months compared to the US market.

Volatility Over Time: WKSP's weekly volatility (19%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
n/a71Steve Rossiwww.worksport.com

Worksport Ltd., through its subsidiary, designs and distributes truck tonneau covers in Canada and the United States. The company offers soft tonneau covers, such as vinyl wrapped tri- and quad-fold tonneau covers; and hard tonneau covers, including tri- and quad-fold aluminum covers. It also offers energy products, such as Worksport SOLIS, a tonneau cover with integrated solar panels; and Worksport COR energy storage system, a modular, portable power station.

Worksport Ltd. Fundamentals Summary

How do Worksport's earnings and revenue compare to its market cap?
WKSP fundamental statistics
Market capUS$27.21m
Earnings (TTM)-US$15.52m
Revenue (TTM)US$6.40m

4.3x

P/S Ratio

-1.8x

P/E Ratio

Is WKSP overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
WKSP income statement (TTM)
RevenueUS$6.40m
Cost of RevenueUS$5.72m
Gross ProfitUS$673.35k
Other ExpensesUS$16.20m
Earnings-US$15.52m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)-0.47
Gross Margin10.53%
Net Profit Margin-242.69%
Debt/Equity Ratio32.6%

How did WKSP perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/20 11:00
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Worksport Ltd. is covered by 2 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ishan MajumdarBaptista Research
Tate SullivanMaxim Group