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EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Nikola's Enterprise Value is MXN1,966 Mil.
Nikola's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2024 was MXN-9,869 Mil. Therefore, Nikola's EV-to-OCF for today is -0.20.
The historical rank and industry rank for Nikola's EV-to-OCF or its related term are showing as below:
MEX:NKLA'
s EV-to-OCF Range Over the Past 10 Years
Min: -451.06 Med: -2.09 Max: -0.21
Current: -0.21
During the past 7 years, the highest EV-to-OCF of Nikola was -0.21. The lowest was -451.06. And the median was -2.09.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-09-08), Nikola's stock price is MXN3.79.
Nikola's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2024 was MXN-334.352. Therefore, Nikola's PE Ratio (TTM) for today is At Loss.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Nikola's share price for today is MXN3.79.
Nikola's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN-334.352.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Nikola EV-to-OCF Related Terms
Nikola EV-to-OCF Historical Data
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The historical data trend for Nikola's EV-to-OCF 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.
For the Farm & Heavy Construction Machinery subindustry, Nikola's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Nikola EV-to-OCF vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Nikola's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Nikola's EV-to-OCF falls into.
Nikola's current Enterprise Value is MXN1,966 Mil.
Nikola's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN-9,869 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.
Nikola (MEX:NKLA) has a EV-to-OCF of -0.20 as of Sep. 08, 2026.
Is Nikola's EV-to-OCF too high?
Nikola's current EV-to-OCF is -0.20. Overall, Nikola has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Nikola's EV-to-OCF compare to NMHI and GP?
Nikola's EV-to-OCF of -0.20 can be compared against companies in the Farm & Heavy Construction Machinery industry. The industry median EV-to-OCF is 9.98. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Farm & Heavy Construction Machinery company?
The median EV-to-OCF among Farm & Heavy Construction Machinery companies is 9.98, based on 216 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Farm & Heavy Construction Machinery industry, the median EV-to-OCF is 9.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nikola's current EV-to-OCF is -0.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nikola stock overvalued right now?
Nikola (MEX:NKLA) has a current EV-to-OCF of -0.20. The current EV-to-OCF is -0.20. Nikola's overall GF Score™ is 12/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Nikola (MEX:NKLA), the current EV-to-OCF is -0.20 as of Sep. 08, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Nikola Corp is a technology innovator and integrator, working to develop inventive energy and transportation solutions. It works on a business model that enables customers and fleets to integrate next-generation truck technology, hydrogen fueling and charging infrastructure, and related maintenance. It operates in two business units: Truck and Energy. The Truck business unit is engaged in manufacturing and selling FCEV and BEV trucks that provide environmentally friendly, cost-effective solutions to the trucking sector. The Energy business unit is engaged in developing and constructing a network of hydrogen fueling stations to meet the hydrogen fuel demand for the company's customers, as well as other third-party customers.
12GF Score
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