Workhorse Group Inc
Workhorse Group, Inc. designs and manufactures electric trucks and related fleet charging solutions. The company provides electric trucks for medium-duty fleet applications, including the Argo electric truck and Argo chassis, which integrate proprietary battery, drivetrain, and cab systems. It offers the Argo LFP battery with control signals, multiple pack configurations, and a range suitable for… Read more
Workhorse Group Inc (WKHS) - Net Assets
Latest net assets as of September 2025: $32.07 Million USD
Based on the latest financial reports, Workhorse Group Inc (WKHS) has net assets worth $32.07 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($116.74 Million) and total liabilities ($84.67 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $32.07 Million |
| % of Total Assets | 27.47% |
| Annual Growth Rate | 84.75% |
| 5-Year Change | -88.79% |
| 10-Year Change | N/A |
| Growth Volatility | 555.91 |
Workhorse Group Inc - Net Assets Trend (2007–2024)
This chart illustrates how Workhorse Group Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Workhorse Group Inc (2007–2024)
The table below shows the annual net assets of Workhorse Group Inc from 2007 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $44.29 Million | -46.71% |
| 2023-12-31 | $83.11 Million | -23.46% |
| 2022-12-31 | $108.59 Million | -37.84% |
| 2021-12-31 | $174.69 Million | -55.80% |
| 2020-12-31 | $395.20 Million | +1231.97% |
| 2019-12-31 | $-34.91 Million | -126.38% |
| 2018-12-31 | $-15.42 Million | -719.59% |
| 2017-12-31 | $2.49 Million | -34.79% |
| 2016-12-31 | $3.82 Million | +200.89% |
| 2015-12-31 | $-3.78 Million | -367.41% |
| 2014-12-31 | $-809.39K | +57.55% |
| 2013-12-31 | $-1.91 Million | +26.11% |
| 2012-12-31 | $-2.58 Million | -65.78% |
| 2011-12-31 | $-1.56 Million | -454.83% |
| 2010-12-31 | $-280.50K | +44.31% |
| 2009-12-31 | $-503.71K | -2495.12% |
| 2008-12-31 | $-19.41K | -1593.08% |
| 2007-12-31 | $1.30K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Workhorse Group Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 85335674400.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $3.84K | 0.01% |
| Other Components | $897.64 Million | 2026.83% |
| Total Equity | $44.29 Million | 100.00% |
Workhorse Group Inc Competitors by Market Cap
The table below lists competitors of Workhorse Group Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Silver Grant International Holdings Group Limited
F:YSG
|
$11.67 Million |
|
Seneca Financial Corp
PINK:SNNF
|
$11.67 Million |
|
HOLALUZ-CLIDOM SA EO 003
F:4H2
|
$11.67 Million |
|
FibroBiologics, Inc. Common Stock
NASDAQ:FBLG
|
$11.67 Million |
|
PT Charlie Hospital Semarang Tbk
JK:RSCH
|
$11.66 Million |
|
Y. T. Realty Group Limited
PINK:YTRGF
|
$11.66 Million |
|
Arthavest Tbk
JK:ARTA
|
$11.66 Million |
|
LiqTech International Inc
NASDAQ:LIQT
|
$11.66 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Workhorse Group Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 83,112,171 to 44,287,925, a change of -38,824,246 (-46.7%).
- Net loss of 101,790,293 reduced equity.
- Share repurchases of 178,587 reduced equity.
- New share issuances of 7,344,487 increased equity.
- Other factors increased equity by 55,800,147.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-101.79 Million | -229.84% |
| Share Repurchases | $178.59K | -0.4% |
| Share Issuances | $7.34 Million | +16.58% |
| Other Changes | $55.80 Million | +125.99% |
| Total Change | $- | -46.71% |
Book Value vs Market Value Analysis
This analysis compares Workhorse Group Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.15x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 11217.23x to 0.15x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | $0.00 | $3.36 | x |
| 2008-12-31 | $-715.44 | $3.36 | x |
| 2009-12-31 | $-5123.71 | $3.36 | x |
| 2010-12-31 | $-31.85 | $3.36 | x |
| 2011-12-31 | $-114.81 | $3.36 | x |
| 2012-12-31 | $-143.61 | $3.36 | x |
| 2013-12-31 | $-62.95 | $3.36 | x |
| 2014-12-31 | $-14.88 | $3.36 | x |
| 2015-12-31 | $-54.69 | $3.36 | x |
| 2016-12-31 | $0.15 | $3.36 | x |
| 2017-12-31 | $16.06 | $3.36 | x |
| 2018-12-31 | $-0.31 | $3.36 | x |
| 2019-12-31 | $-0.54 | $3.36 | x |
| 2020-12-31 | $4.26 | $3.36 | x |
| 2021-12-31 | $1.36 | $3.36 | x |
| 2022-12-31 | $171.19 | $3.36 | x |
| 2023-12-31 | $100.24 | $3.36 | x |
| 2024-12-31 | $22.49 | $3.36 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Workhorse Group Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -229.84%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1538.46%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 2.12x
- Recent ROE (-229.84%) is below the historical average (-169.27%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | -138.46% | 0.00% | 0.00x | 14.15x | $-1.93K |
| 2008 | 0.00% | 0.00% | 0.00x | 0.00x | $-22.54K |
| 2009 | 0.00% | 0.00% | 0.00x | 0.00x | $-1.47 Million |
| 2010 | 0.00% | -3573.46% | 0.27x | 0.00x | $-5.00 Million |
| 2011 | 0.00% | -4581.11% | 0.42x | 0.00x | $-8.55 Million |
| 2012 | 0.00% | -1570.20% | 1.23x | 0.00x | $-4.01 Million |
| 2013 | 0.00% | -3442.57% | 0.04x | 0.00x | $-5.92 Million |
| 2014 | 0.00% | -3723.20% | 0.04x | 0.00x | $-6.53 Million |
| 2015 | 0.00% | -6734.43% | 0.01x | 0.00x | $-9.05 Million |
| 2016 | -512.34% | -304.86% | 0.63x | 2.68x | $-19.94 Million |
| 2017 | -1696.95% | -389.43% | 0.67x | 6.48x | $-42.49 Million |
| 2018 | 0.00% | -4782.97% | 0.06x | 0.00x | $-34.96 Million |
| 2019 | 0.00% | -17505.78% | 0.01x | 0.00x | $-62.43 Million |
| 2020 | 17.66% | 5010.81% | 0.00x | 1.60x | $30.26 Million |
| 2021 | -229.74% | 0.00% | 0.00x | 1.31x | $-418.81 Million |
| 2022 | -108.00% | -2334.71% | 0.03x | 1.68x | $-128.13 Million |
| 2023 | -149.10% | -946.33% | 0.09x | 1.70x | $-132.23 Million |
| 2024 | -229.84% | -1538.46% | 0.07x | 2.12x | $-106.22 Million |
Industry Comparison
This section compares Workhorse Group Inc's net assets metrics with peer companies in the Auto Manufacturers industry.
Industry Context
- Industry: Auto Manufacturers
- Average net assets among peers: $23,464,126,061
- Average return on equity (ROE) among peers: -90.50%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Workhorse Group Inc (WKHS) | $32.07 Million | -138.46% | 2.64x | $11.67 Million |
| Thunder Power Holdings, Inc. (AIEV) | $6.52 Million | -38.36% | 1.08x | $710.14K |
| Robo.ai Inc. (AIIO) | $138.98 Million | 0.40% | 0.00x | $23.12 Million |
| Aston Martin Lagonda Global Holdings plc (AMGDF) | $249.00 Million | -43.01% | 3.45x | $289.13 Million |
| Arrival (ARVLF) | $1.23 Billion | -106.38% | 0.44x | $803.89 |
| AYRO Inc (AYRO) | $3.04 Million | -525.91% | 0.85x | $4.36 Million |
| Bayerische Motoren Werke Aktiengesellschaft (BAMXF) | $92.92 Billion | 12.15% | 1.70x | $29.09 Billion |
| BAIC Motor Corporation Limited (BCCMY) | $79.38 Billion | 3.82% | 1.13x | $1.88 Billion |
| Bollinger Innovations, Inc. (BINI) | $9.04 Million | -146.60% | 1.53x | $1.33K |
| BYD Company Limited (BYDDF) | $60.69 Billion | 4.58% | 2.21x | $112.14 Billion |
| Cenntro Electric Group Ltd (CENN) | $7.87 Million | -65.67% | 1.89x | $8.60 Million |