Workhorse Group Inc (WKHS) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Workhorse Group Inc $1.56, price $2.91, upside -46.5%, quality 34 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $2.34 – $51,600 · fair‑value band $1.16 – $2.32 · the $2.91 price screens above the $1.56 fair value. Dashed = 300-day average. As of Sep 23, 2026.
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Workhorse Group, Inc. design and manufacture electric delivery trucks and drone systems solutions.
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Workhorse Group, Inc. design and manufacture electric delivery trucks and drone systems solutions. The company provides step vans and stripped chassis; stripped chassis; shuttle bus, school bus, box truck, and work truck; workhorse connect, a remote data management system; telematics and charging infrastructure solutions; after-sales vehicle services; body shop and parts; and assembly services. It markets its products under the Workhorse and Motiv brand names. The company is based in Wixom, Michigan.
Stock analysis
Workhorse Group Inc (WKHS) currently trades at $2.91, while our model-based Fair Value estimate is $1.56, implying the stock looks roughly 87.0% overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: $1.16 (bear) to $2.32 (bull), the price of $2.91 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 34/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Workhorse Group Inc reported revenue of $21.2M in FY2025 versus −$852K in FY2021. Reported net income was −$64.1M in FY2025.
Key figures
Market cap $30.7M · P/S ratio 1.26 · EPS (TTM) $−7.39 · Net margin −292% · Return on equity −248% · Return on assets (EBIT) −69.0% · Operating margin −487% · Revenue (TTM) $24.4M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).
What moves the price
The share trades about 79% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −2% fair-value upside, at −47%, WKHS screens richer than that median.
Fair Value models
Bear $1.16Fair Value $1.56Bull $2.32
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.35/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+220.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+61.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+72.4%
Start year 2020 (pandemic). Over 10 years: +65.2% a year
Revenue growth 15 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+39.7%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−2,943.0% (2020) → −223.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Auto Manufacturers · 116 stocks
Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score33 · Bottom 25%
Fair Value upside−47% · Bottom 25%
Profitability
Return on assets−30% · Bottom 25%
Growth and dividend
Revenue growth278% · Top 25%
Balance sheet
Debt / equity0.36× · Above median
Valuation Multiplesvs Auto Manufacturers median · lower = cheaper
P/B0.71× · Cheaper than median
P/S (TTM)1.26× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 47
FUTURE (revenue growth)100· sector 27
PAST (return on equity)0· sector 21
HEALTH (low debt)82· sector 93
DIVIDEND (yield)0· sector 54
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Workhorse Group Inc Fair Value". https://www.fairvalue-calculator.com/stock/WKHS
Frequently asked questions
Is Workhorse Group Inc (WKHS) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $1.56 versus a price of $2.91, about −47% upside (overvalued).
What is the fair value of WKHS?
Our model-based fair value for Workhorse Group Inc is $1.56 (as of Sep 23, 2026), built from audited fundamentals. The current price: $2.91.
What is the quality score of WKHS?
Workhorse Group Inc has a Quality Score of 34/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Workhorse Group Inc (WKHS)?
Our model-based price target is the fair value of $1.56 (as of Sep 23, 2026) from 1 valuation models. Cautious scenario $1.16, optimistic scenario $2.32. It is a calculation from audited fundamentals, not an analyst target.
What is the Workhorse Group Inc stock forecast for 2026?
Our models put fair value at $1.56, about −47% upside versus a price of $2.91 (overvalued). Cautious scenario $1.16, optimistic scenario $2.32. The calculation is refreshed regularly with new filings.
What is the revenue of Workhorse Group Inc (WKHS)?
Workhorse Group Inc reported trailing-twelve-month revenue of about $24.4M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Workhorse Group Inc (WKHS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Workhorse Group Inc it is $1.56 per share (as of Sep 23, 2026), against a price of $2.91. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Workhorse Group Inc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, WKHS trades above its calculated fair value: price $2.91, fair value $1.56, a gap of about −47% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WKHS?
No. The price is what the market pays today ($2.91); the fair value is what the company's own numbers justify ($1.56). For Workhorse Group Inc the two are $1.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is Workhorse Group Inc worth?
The market values Workhorse Group Inc at about $30.7M (market capitalisation, as of Sep 23, 2026). Per share that is $2.91; our models calculate a fair value of $1.56 per share.
What do the bullish and bearish scenarios say about WKHS?
Our models span a range for Workhorse Group Inc: cautious scenario $1.16, base $1.56, optimistic $2.32 per share (as of Sep 23, 2026, price $2.91). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Workhorse Group Inc (WKHS)?
Balance-sheet figures for Workhorse Group Inc (as of Sep 23, 2026): return on equity −247.7%, debt of 0.36 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is WKHS from its 52-week high?
Workhorse Group Inc trades at $2.91, about 79% below its 52-week high of $13.80 and 24% above the low of $2.34 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $1.56 is for.
Which stocks are comparable to Workhorse Group Inc?
From the same area (Consumer Cyclical) we also value Tesla, Inc, Toyota Motor Corporation, BYD Company, Hyundai Motor Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Workhorse Group Inc stock attractive at the current price?
The data as of Sep 23, 2026: price $2.91, calculated fair value $1.56 (−47%), Quality Score 34/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WKHS calculated?
We run Workhorse Group Inc through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $1.56, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Workhorse Group Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Workhorse Group Inc (WKHS)?
The closing price on Sep 24, 2026 was $2.91. Our model-based fair value is $1.56, about −47% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Workhorse Group Inc right now?
The price sits above even our optimistic bull case ($2.32). The favourable scenario is already priced in. Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($1.16 to $2.32) leaves room in how you read the outcome.
Key figures of Workhorse Group Inc
How large is the market capitalisation of Workhorse Group Inc (WKHS)?
The market capitalisation of Workhorse Group Inc is $30.7M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Workhorse Group Inc (WKHS)?
The price-to-sales ratio of Workhorse Group Inc is 1.26 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Workhorse Group Inc (WKHS)?
Earnings per share at Workhorse Group Inc are $−7.39. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Workhorse Group Inc (WKHS)?
The net margin of Workhorse Group Inc is −292% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Workhorse Group Inc (WKHS)?
The return on equity (ROE) of Workhorse Group Inc is −248% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Workhorse Group Inc (WKHS)?
On an EBIT basis the return on assets of Workhorse Group Inc is −69.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Workhorse Group Inc (WKHS)?
The operating margin of Workhorse Group Inc is −487% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Workhorse Group Inc (WKHS)?
Revenue at Workhorse Group Inc is growing +278% versus a year earlier (3y avg +61.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Workhorse Group Inc (WKHS)?
Earnings per share at Workhorse Group Inc are growing +190% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Workhorse Group Inc (WKHS) generate?
The free cash flow of Workhorse Group Inc is −$36.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Workhorse Group Inc (WKHS) carry?
The net debt of Workhorse Group Inc is $24.9M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Sep 23, 2026