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NKLA

Nikola NasdaqGS:NKLA Stock Report

Last Price

US$4.72

Market Cap

US$2.0b

7D

-15.9%

1Y

-71.3%

Updated

03 Jul, 2022

Data

Company Financials +
NKLA fundamental analysis
Snowflake Score
Valuation0/6
Future Growth2/6
Past Performance0/6
Financial Health3/6
Dividends0/6

NKLA Stock Overview

Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions.

Nikola Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Nikola
Historical stock prices
Current Share PriceUS$4.72
52 Week HighUS$16.86
52 Week LowUS$4.61
Beta1.06
1 Month Change-34.90%
3 Month Change-52.94%
1 Year Change-71.29%
3 Year Change-53.41%
5 Year Changen/a
Change since IPO-50.73%

Recent News & Updates

Jun 28

Nikola: Cash Burn Rate Raises Dilution Questions Ahead Of Shareholder Meeting

Nikola is working quickly to scale production and pilots as it expects to generate ~$120 million in revenue in FY22. However, Nikola's liquidity picture is a bit worse than it looks, with Tumim's remaining ELOC worth less than $250 million. Nikola's high cash burn rate and fragile liquidity picture raise the stakes of shareholder dilution, as Nikola is urging shareholders to approve a 33% increase in authorized shares.

Jun 17

Nikola Still Trades At A Risky Multiple

Nikola went public and saw a massive hype as it was called the Tesla of trucks. Investors soon turned very pessimistics, sending the stock to all time lows as fraud charges and production delays were seen as major problems that prevented from trusting the company. Nikola is trying to turn around investors' sentiment and recently stated that it is finally delivering its first electric trucks during the current quarter. During these years, Nikola lost its perceived first move advantage and allowed the main truck manufactureres to take the lead in the electric truck revolution. Still, demand for electric trucks is far greater than the current manufacturing capacity of all the industry players, providing Nikola with one last opportunity.

May 06

Nikola: One More Major Hurdle

Nikola is finally in production mode with revenues set to top $15 million in the June quarter. The EV company still need more capital to fund the 2023 investment plan. The stock has a reasonable valuation, but the dilution aspect makes investing here too tricky.

Shareholder Returns

NKLAUS MachineryUS Market
7D-15.9%-2.6%-2.5%
1Y-71.3%-22.5%-21.2%

Return vs Industry: NKLA underperformed the US Machinery industry which returned -22.5% over the past year.

Return vs Market: NKLA underperformed the US Market which returned -21.2% over the past year.

Price Volatility

Is NKLA's price volatile compared to industry and market?
NKLA volatility
NKLA Average Weekly Movement13.1%
Machinery Industry Average Movement6.2%
Market Average Movement8.1%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.3%

Stable Share Price: NKLA is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 13% a week.

Volatility Over Time: NKLA's weekly volatility (13%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
n/a900Mark Russellhttps://www.nikolamotor.com

Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi-trucks to the trucking sector.

Nikola Fundamentals Summary

How do Nikola's earnings and revenue compare to its market cap?
NKLA fundamental statistics
Market CapUS$1.99b
Earnings (TTM)-US$723.15m
Revenue (TTM)US$1.89m

1,054x

P/S Ratio

-2.7x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NKLA income statement (TTM)
RevenueUS$1.89m
Cost of RevenueUS$1.46m
Gross ProfitUS$431.00k
Other ExpensesUS$723.59m
Earnings-US$723.15m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-1.72
Gross Margin22.84%
Net Profit Margin-38,323.00%
Debt/Equity Ratio4.0%

How did NKLA perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is NKLA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NKLA?

Other financial metrics that can be useful for relative valuation.

NKLA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue868.4x
Enterprise Value/EBITDA-2.3x
PEG Ration/a

Price to Book Ratio vs Peers

How does NKLA's PB Ratio compare to its peers?

NKLA PB Ratio vs Peers
The above table shows the PB ratio for NKLA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average2.6x
TRN Trinity Industries
2x72.5%US$2.0b
TEX Terex
1.7x9.8%US$1.9b
FSS Federal Signal
2.7x21.4%US$2.1b
MTOR Meritor
3.8x17.8%US$2.6b
NKLA Nikola
3.2x16.1%US$2.0b

Price-To-Book vs Peers: NKLA is expensive based on its Price-To-Book Ratio (3.2x) compared to the peer average (2.6x).


Price to Earnings Ratio vs Industry

How does NKLA's PE Ratio compare vs other companies in the US Machinery Industry?

Price-To-Book vs Industry: NKLA is expensive based on its Price-To-Book Ratio (3.2x) compared to the US Machinery industry average (2x)


Price to Book Ratio vs Fair Ratio

What is NKLA's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NKLA PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio3.2x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate NKLA's Price-To-Book Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of NKLA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate NKLA's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate NKLA's fair value for valuation analysis.


Price to Earnings Growth Ratio

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


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Future Growth

How is Nikola forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


16.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NKLA is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: NKLA is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: NKLA is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: NKLA's revenue (64% per year) is forecast to grow faster than the US market (8.2% per year).

High Growth Revenue: NKLA's revenue (64% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NKLA is forecast to be unprofitable in 3 years.


Discover growth companies

Past Performance

How has Nikola performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-53.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NKLA is currently unprofitable.

Growing Profit Margin: NKLA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: NKLA is unprofitable, and losses have increased over the past 5 years at a rate of 53.5% per year.

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

Earnings vs Industry: NKLA is unprofitable, making it difficult to compare its past year earnings growth to the Machinery industry (23.3%).


Return on Equity

High ROE: NKLA has a negative Return on Equity (-116.23%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Nikola's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: NKLA's short term assets ($419.0M) exceed its short term liabilities ($183.6M).

Long Term Liabilities: NKLA's short term assets ($419.0M) exceed its long term liabilities ($104.5M).


Debt to Equity History and Analysis

Debt Level: NKLA has more cash than its total debt.

Reducing Debt: Insufficient data to determine if NKLA's debt to equity ratio has reduced over the past 5 years.


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: NKLA has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: NKLA has less than a year of cash runway if free cash flow continues to reduce at historical rates of 54.2% each year


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Dividend

What is Nikola current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

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

High Dividend: Unable to evaluate NKLA'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 NKLA's dividends per share have been stable in the past.

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


Earnings Payout to Shareholders

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


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as NKLA has not reported any payouts.


Discover strong dividend paying companies

Management

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

2.1yrs

Average management tenure


CEO

Mark Russell (59 yo)

2.08yrs

Tenure

US$5,609,642

Compensation

Mr. Mark A. Russell has been the Chief Executive Officer, President and Director of Nikola Corporation since June 2020. Mr. Russell served as the President and Chief Operating Officer of Worthington Indust...


CEO Compensation Analysis

Compensation vs Market: Mark's total compensation ($USD5.61M) is about average for companies of similar size in the US market ($USD5.53M).

Compensation vs Earnings: Mark's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: NKLA's management team is considered experienced (2.1 years average tenure).


Board Members

Experienced Board: NKLA's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.1%.


Top Shareholders

Company Information

Nikola Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Nikola Corporation
  • Ticker: NKLA
  • Exchange: NasdaqGS
  • Founded: NaN
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Implied Market Cap: US$1.988b
  • Shares outstanding: 421.14m
  • Website: https://www.nikolamotor.com

Number of Employees


Location

  • Nikola Corporation
  • 4141 East Broadway Road
  • Phoenix
  • Arizona
  • 85040
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/03 00:00
End of Day Share Price2022/07/01 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.