Workhorse Group Inc.

WKHSNASDAQConsumer Cyclical● Active

$3.28

$-0.17(-4.93%)

Market Cap$35730352

P/E Ratio—

52W High$67.32

52W Low$2.31

Avg Volume188K

Open$3.41

Beta2.63

Overview

Workhorse Group Inc. (WKHS) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

WKHS · free cash flow · updated Jun 8, 2026

Core FCF metrics

WKHS · FCF · TTM · margin & CAGR

Free cash flow was −$36.2M for FY2025 (fiscal year ending 2025-12-31), up 30.0% year-over-year The FCF margin was -170.5%.

FY2025 Free Cash Flow−$36.2M▲ +30.0% YoY

Trailing 12M (TTM)−$44.6Mtrailing 4 quarters sum

FCF Margin-170.5%−$36.2M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

WKHS · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$35.6M(1M)−$36.2M▲ +30.0%-170.5%

FY2024−$47.6M(4M)−$51.7M▲ +63.5%-780.7%

FY2023−$123.0M(19M)−$141.7M▼ 27.3%—

FY2022−$93.8M(17M)−$111.3M▲ +19.3%—

FY2021−$132.6M(5M)−$137.9M▼ 81.4%—

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

WKHS · P/FCF · FCF yield · FCF per share

Workhorse Group Inc. (WKHS) reported negative free cash flow of −$0.04B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

WKHS · cash flow statement · operating / investing / financing

For FY2025, Workhorse Group Inc. generated −$35.6M in operating cash flow and spent 1M in capital expenditures, yielding −$36.2M in free cash flow.

Operating Activities

−$35.6M

Cash from core business operations

2025-12-31

Investing Activities

+$9.8M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$32.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$35.6M) − |CapEx| (1M) = FCF (−$36.2M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Cyclical)

WKHS vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Workhorse Group Inc.YOU

WKHS

−$36.2M+30.0%-170.5%

Loss

Toyota Motor Corporation

Alibaba Group Holding Limited

BABA

−$50.72B-164.9%-5.0%

Loss

Consumer Cyclical · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Workhorse Group Inc. (WKHS) reported free cash flow of −$36.2M for FY2025 (fiscal year ending 2025-12-31), up 30.0% year-over-year. The FCF margin was -170.5%.

Workhorse Group Inc. has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 15 fiscal years.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

WKHS free cash flow · 8 questions

Workhorse Group Inc. free cash flow was −$36.2M for FY2025, up 30.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$44.6M.

WKHS free cash flowWKHS FCFWKHS FCF 2025WKHS free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Workhorse Group Inc. · Workhorse Group Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026