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Workhorse Group Inc is a technology company with a vision to pioneer the transition to zero-emission commercial vehicles. Its focus is to provide sustainable and cost-effective solutions to the commercial transportation sector. It designs and manufactures all-electric delivery trucks and drone systems, including the technology that optimizes the way these vehicles operate. It's focused on a core competency of bringing electric delivery vehicle platforms to serve the last-mile delivery market. Its products are marketed under the Workhorse brand.
2007
143
LTM Revenue $7.6M
LTM EBITDA -$25.3M
$19.1M
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Workhorse has a last 12-month revenue of $7.6M and a last 12-month EBITDA of -$25.3M.
In the most recent fiscal year, Workhorse achieved revenue of $6.6M and an EBITDA of -$71.8M.
Workhorse expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Workhorse valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $13.1M | $6.6M | XXX | XXX | XXX |
| Gross Profit | -$32.6M | -$25.3M | XXX | XXX | XXX |
| Gross Margin | -249% | -382% | XXX | XXX | XXX |
| EBITDA | -$111M | -$71.8M | XXX | XXX | XXX |
| EBITDA Margin | -849% | -1085% | XXX | XXX | XXX |
| Net Profit | -$117M | -$124M | XXX | XXX | XXX |
| Net Margin | -896% | -1873% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Workhorse's stock price is $1.
Workhorse has current market cap of $6.9M, and EV of $19.1M.
See Workhorse trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $19.1M | $6.9M | XXX | XXX | XXX | XXX | $-41.29 |
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Sign UpAs of April 15, 2025, Workhorse has market cap of $6.9M and EV of $19.1M.
Workhorse's trades at 2.5x LTM EV/Revenue multiple, and -0.8x LTM EBITDA.
Analysts estimate Workhorse's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Workhorse and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $19.1M | XXX | XXX | XXX |
| EV/Revenue | 2.9x | XXX | XXX | XXX |
| EV/EBITDA | -0.3x | XXX | XXX | XXX |
| P/E | -0.1x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -0.4x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpWorkhorse's NTM/LTM revenue growth is 32%
Workhorse's revenue per employee for the last fiscal year averaged $46K, while opex per employee averaged $0.4M for the same period.
Over next 12 months, Workhorse's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Workhorse's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Workhorse and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -49% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -1085% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -35% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | -1053% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $46K | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.4M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 138% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 781% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Ebusco Holding | XXX | XXX | XXX | XXX | XXX | XXX |
| Traton | XXX | XXX | XXX | XXX | XXX | XXX |
| Ashok Leyland | XXX | XXX | XXX | XXX | XXX | XXX |
| TVS Motor | XXX | XXX | XXX | XXX | XXX | XXX |
| Bajaj Auto | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Workhorse acquired XXX companies to date.
Last acquisition by Workhorse was XXXXXXXX, XXXXX XXXXX XXXXXX . Workhorse acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Workhorse founded? | Workhorse was founded in 2007. |
| Where is Workhorse headquartered? | Workhorse is headquartered in United States of America. |
| How many employees does Workhorse have? | As of today, Workhorse has 143 employees. |
| Who is the CEO of Workhorse? | Workhorse's CEO is Mr. Richard F. Dauch. |
| Is Workhorse publicy listed? | Yes, Workhorse is a public company listed on NAS. |
| What is the stock symbol of Workhorse? | Workhorse trades under WKHS ticker. |
| When did Workhorse go public? | Workhorse went public in 2009. |
| Who are competitors of Workhorse? | Similar companies to Workhorse include e.g. Ebusco Holding, Traton, Ashok Leyland, TVS Motor. |
| What is the current market cap of Workhorse? | Workhorse's current market cap is $6.9M |
| What is the current revenue of Workhorse? | Workhorse's last 12-month revenue is $7.6M. |
| What is the current EBITDA of Workhorse? | Workhorse's last 12-month EBITDA is -$25.3M. |
| What is the current EV/Revenue multiple of Workhorse? | Current revenue multiple of Workhorse is 2.5x. |
| What is the current EV/EBITDA multiple of Workhorse? | Current EBITDA multiple of Workhorse is -0.8x. |
| What is the current revenue growth of Workhorse? | Workhorse revenue growth between 2023 and 2024 was -49%. |
| Is Workhorse profitable? | Yes, Workhorse is EBITDA-positive (as of the last 12 months). |
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