Worksport Valuation Multiples

Discover revenue and EBITDA valuation multiples for Worksport.

Worksport Overview

About Worksport

Worksport Ltd through its subsidiaries, designs, develops, manufactures, and owns the IP on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), Hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. The company's product includes soft vinyl tonneau covers and hard aluminum tonneau covers. It operates in two reporting segments for financial reporting purposes: Hard Tonneau Covers and Soft Tonneau Covers. Geographically, the company operates in Canada, United States and Other Countries.


Founded

2003

HQ

United States

Employees

81

Financials (LTM)

Revenue: $29M
EBITDA: ($12M)

EV

$15M

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Worksport Financials

Worksport reported last 12-month revenue of $29M and negative EBITDA of ($12M).

In the same LTM period, Worksport generated $9M in gross profit, ($12M) in EBITDA losses, and had net loss of ($17M).


Worksport P&L

In the most recent fiscal year, Worksport reported revenue of $16M and EBITDA of ($17M).

Worksport is unprofitable as of last fiscal year, with gross margin of 28%, EBITDA margin of (105%), and net margin of (120%).

See analyst estimates for Worksport
LTMLast FY202320242025202620272028
Revenue$29M$16M$2M$8M$16M
Gross Profit$9M$4M$241K$906K$4M
Gross Margin31%28%16%11%28%
EBITDA($12M)($17M)($13M)($14M)($17M)
EBITDA Margin(41%)(105%)(863%)(161%)(105%)
EBIT Margin(56%)(117%)(964%)(182%)(117%)
Net Profit($17M)($19M)($15M)($16M)($19M)
Net Margin(58%)(120%)(976%)(191%)(120%)

Financial data powered by Morningstar, Inc.

Worksport Stock Performance

Worksport has current market cap of $10M, and enterprise value of $15M.


Worksport's stock price is $0.68.

Worksport has an EPS (earnings per share) of $-1.26.

See more trading valuation data for Worksport
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$15M$10M0.7%---$-1.26

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Worksport Valuation Multiples

Worksport trades at 0.5x EV/Revenue multiple, and (1.2x) EV/EBITDA.

See NTM and 2027E valuation multiples for Worksport

Worksport Financial Valuation Multiples

As of August 14, 2026, Worksport has market cap of $10M and EV of $15M.

Worksport has a P/E ratio of (0.6x).

LTMLast FY202320242025202620272028
EV/Revenue0.5x0.9x9.6x1.7x0.9x
EV/EBITDA(1.2x)(0.9x)(1.1x)(1.1x)(0.9x)
EV/EBIT(0.9x)(0.8x)(1.0x)(1.0x)(0.8x)
EV/Gross Profit1.7x3.3x61.3x16.3x3.3x
P/E(0.6x)(0.5x)(0.7x)(0.6x)(0.5x)
EV/FCF(0.8x)(0.8x)(0.9x)(1.4x)(0.8x)

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Worksport Margins & Growth Rates

Worksport grew revenue by 125% but EBITDA decreased by 43% in the last fiscal year.

In the most recent fiscal year, Worksport reported gross margin of 28%, EBITDA margin of (105%), and net margin of (120%).

See estimated margins and future growth rates for Worksport

Worksport Margins

Last FY202420252026202720282029
Gross Margin28%11%28%32%
EBITDA Margin(105%)(161%)(105%)(27%)
EBIT Margin(117%)(182%)(117%)(39%)
Net Margin(120%)(191%)(120%)(41%)
FCF Margin(114%)(126%)(114%)(53%)

Worksport Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth125%455%90%125%
Gross Profit Growth157%277%394%157%
EBITDA Growth(43%)4%24%(43%)
EBIT Growth(25%)5%22%(25%)
Net Profit Growth(24%)8%20%(24%)
FCF Growth4%(32%)73%4%

Data powered by FactSet, Inc. and Morningstar, Inc.

Worksport Operational KPIs

Worksport's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.3M for the same period.

Worksport's Rule of 40 is 98% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Worksport's Rule of X is 286% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for Worksport
LTMLast FY202320242025202620272028
Rule of 40(8%)98%---
Bessemer Rule of X42%286%---
Revenue per Employee-$0.2M---
Opex per Employee-$0.3M---
S&M Expenses to Revenue24%43%97%28%43%
G&A Expenses to Revenue52%92%882%138%92%
R&D Expenses to Revenue5%10%-27%10%
Opex to Revenue-145%979%193%145%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Worksport Competitors

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E

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Worksport VC Funding History

Before going public, Worksport raised $3M in total equity funding, across 1 round.


Worksport Funding Rounds

DateStageInvestorsRaisedValuationRev. MultipleDeal Summary
Mar-21Seed-$3M--

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About Worksport

When was Worksport founded?Worksport was founded in 2003.
Where is Worksport headquartered?Worksport is headquartered in United States.
How many employees does Worksport have?As of today, Worksport has over 81 employees.
Is Worksport publicly listed?Yes, Worksport is a public company listed on Nasdaq.
What is the stock symbol of Worksport?Worksport trades under WKSP ticker.
When did Worksport go public?Worksport went public in 1998.
Who are competitors of Worksport?Worksport main competitors include
What is the current market cap of Worksport?Worksport's current market cap is $10M.
What is the current revenue of Worksport?Worksport's last 12 months revenue is $29M.
What is the current revenue growth of Worksport?Worksport revenue growth (NTM/LTM) is 33%.
What is the current EV/Revenue multiple of Worksport?Current revenue multiple of Worksport is 0.5x.
Is Worksport profitable?No, Worksport is not profitable.
What is the current EBITDA of Worksport?Worksport has negative EBITDA and is not profitable.
What is Worksport's EBITDA margin?Worksport's last 12 months EBITDA margin is (41%).
What is the current EV/EBITDA multiple of Worksport?Current EBITDA multiple of Worksport is (1.2x).
What is the current FCF of Worksport?Worksport's last 12 months FCF is ($19M).
What is Worksport's FCF margin?Worksport's last 12 months FCF margin is (66%).
What is the current EV/FCF multiple of Worksport?Current FCF multiple of Worksport is (0.8x).
How many companies Worksport has acquired to date?Worksport hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies Worksport has invested to date?Worksport hasn't invested in any companies yet (or none have been disclosed publicly).

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