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WKHS (Workhorse Group) Operating Income : $-63.00 Mil (TTM As of Mar. 2025)


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What is Workhorse Group Operating Income?

Workhorse Group's Operating Income for the three months ended in Mar. 2025 was $-12.84 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was $-63.00 Mil.

Warning Sign:

Workhorse Group Inc has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Workhorse Group's Operating Income for the three months ended in Mar. 2025 was $-12.84 Mil. Workhorse Group's Revenue for the three months ended in Mar. 2025 was $0.64 Mil. Therefore, Workhorse Group's Operating Margin % for the quarter that ended in Mar. 2025 was -2,002.65%.

Workhorse Group's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Workhorse Group's annualized ROC % for the quarter that ended in Mar. 2025 was -57.06%. Workhorse Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was -76.26%.


Workhorse Group Operating Income Historical Data

The historical data trend for Workhorse Group's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Workhorse Group Operating Income Chart

Workhorse Group Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -40.98 -185.12 -129.08 -105.30 -73.89

Workhorse Group Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -23.73 -20.52 -14.17 -15.47 -12.84

Workhorse Group Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was $-63.00 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Workhorse Group  (NAS:WKHS) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Workhorse Group's annualized ROC % for the quarter that ended in Mar. 2025 is calculated as:

ROC % (Q: Mar. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2024 ) + Invested Capital (Q: Mar. 2025 ))/ count )
=-51.348 * ( 1 - 0% )/( (75.607 + 104.366)/ 2 )
=-51.348/89.9865
=-57.06 %

where

Note: The Operating Income data used here is four times the quarterly (Mar. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Workhorse Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2024  Q: Mar. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-51.348/( ( (40.233 + max(15.536, 0)) + (37.524 + max(41.364, 0)) )/ 2 )
=-51.348/( ( 55.769 + 78.888 )/ 2 )
=-51.348/67.3285
=-76.26 %

where Working Capital is:

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.538 + 41.839 + 6.391) - (14.114 + 6.351 + 12.767)
=15.536

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.027 + 41.309 + 33.423) - (13.962 + 6.351 + 13.082)
=41.364

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Workhorse Group's Operating Margin % for the quarter that ended in Mar. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2025 )/Revenue (Q: Mar. 2025 )
=-12.837/0.641
=-2,002.65 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Workhorse Group Operating Income Related Terms

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Workhorse Group Business Description

Traded in Other Exchanges
Address
3600 Park 42 Drive, Suite 160E, Sharonville, OH, USA, 45241
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.
Executives
Richard F Dauch director, officer: Chief Executive Officer C/O SPARTAN MOTORS INC, 1541 REYNOLDS ROAD, CHARLOTTE MI 48813
Ryan Wesley Gaul officer: President, Commercial Vehicles 21680 HAGGERTY ROAD, NORTHVILLE MI 48167
James Peters officer: VP, Supply Chain Management 100 COMMERCE STREET, LOVELAND OH 45140
Stanley Raymond March officer: VP, Business Development 100 COMMERCE DRIVE, LOVELAND OH 45140
Robert M Ginnan officer: Chief Financial Officer
Joshua Joseph Anderson officer: Chief Technology Officer 100 COMMERCE DRIVE, LOVELAND OH 45140
James D. Harrington officer: Chief Administrative Officer 500 NORTH FIELD DRIVE, LAKE FOREST IL 60045
Jean Botti director 3600 PARK 42 DRIVE, SUITE 160E, SHARONVILLE OH 45241
Brandon Torres Declet director C/O MEASURE GLOBAL INC., 1701 RHODE ISLAND AVENUE NW, STE 05-103, WASHINGTON DC 20036
Michael Laurence Clark director 828 PRESIDENT STREET, BROOKLYN NY 11215
Jacqueline A Dedo director 3939 TECHNOLOGY DRIVE, MAUMEE OH 43537
Raymond Joseph Chess director 1084 ANDANTE CT, OXFORD MI 48370
Harry Demott director C/O WORKHORSE GROUP INC.,, 100 COMMERCE DRIVE, LOVELAND OH 45140
Austin Scott Miller director 100 COMMERCE STREET, LOVELAND OH 45140
Pamela S. Mader director 2522 N 600 E, CRAIGVILLE IN 46731