Workhorse (WKHS) EBITDA (2015 - 2025)
Workhorse (WKHS) posted quarterly EBITDA of -$3.6 million for Q4 2025, down 120.92% year-over-year from $17.1 million in Q4 2024, and up 78.41% quarter-over-quarter from -$16.6 million in Q3 2025.
Workhorse (WKHS) EBITDA (2015 - 2025) Analysis & Trends
Workhorse (WKHS) has reported EBITDA for 11 consecutive years, with -$3.6 million the latest figure, recorded in Q4 2025.
- In Q4 2025, EBITDA fell 120.92% year-over-year to -$3.6 million; the TTM figure through Dec 2025 stood at -$47.4 million (down 14.78% YoY), while the FY2025 annual figure was -$47.4 million, down 14.78% from the prior year.
- EBITDA improved to -$3.6 million in Q4 2025 per WKHS's latest filing, from -$16.6 million in the prior quarter.
- Across five years, EBITDA topped out at $17.1 million in Q4 2024 and bottomed at -$120.4 million in Q4 2021.
- Historically, EBITDA has averaged -$25.4 million across 5 years, with a median of -$21.1 million in 2022.
- Annual changes were most pronounced in 2021 — EBITDA plunged 700.25% — and 2024, when it soared 148.57%.
- Workhorse's EBITDA stood at -$120.4 million in 2021, then soared by 67.33% to -$39.3 million in 2022, then gained by 10.6% to -$35.2 million in 2023, then jumped by 148.57% to $17.1 million in 2024, then tumbled by 120.92% to -$3.6 million in 2025.
- Business Quant data shows WKHS's EBITDA at -$3.6 million in Q4 2025, -$16.6 million in Q3 2025, and -$14.5 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Tesla | 1,062.42 Bn | 1,018.89 Bn | 4.75 Bn | 398.00 Mn |
| 2 | Toyota Motor | 248.02 Bn | 113.80 Bn | 12.27 Bn | 6.67 Bn |
| 3 | Honda Motor | 127.13 Bn | 92.93 Bn | -34.06 Bn | 75.83 Mn |
| 4 | Ford Motor | 81.51 Bn | 50.18 Bn | 6.08 Bn | 638.00 Mn |
| 5 | General Motors | 78.38 Bn | 53.66 Bn | 7.33 Bn | 1.46 Bn |
| 6 | Li Auto | 26.25 Bn | 12.80 Bn | 262.11 Mn | -432.94 Mn |
| 7 | Xpeng | 23.13 Bn | 20.59 Bn | 388.90 Mn | -270.62 Mn |
| 8 | Rivian Automotive | 21.08 Bn | 15.77 Bn | 179.00 Mn | -836.00 Mn |
| 9 | Stellantis | 16.04 Bn | -25.41 Bn | 5.55 Bn | 815.98 Mn |
| 10 | Workhorse | 31.36 Mn | 18.46 Mn | 10.06 Mn | -3.57 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -3.57 Mn |
| Sep 30, 2025 | -16.56 Mn |
| Jun 30, 2025 | -14.47 Mn |
| Mar 31, 2025 | -12.84 Mn |
| Dec 31, 2024 | 17.08 Mn |
| Sep 30, 2024 | -14.17 Mn |
| Jun 30, 2024 | -20.52 Mn |
| Mar 31, 2024 | -23.73 Mn |
| Dec 31, 2023 | -35.17 Mn |
| Sep 30, 2023 | -21.06 Mn |
| Jun 30, 2023 | -23.52 Mn |
| Mar 31, 2023 | -25.55 Mn |
| Dec 31, 2022 | -39.34 Mn |
| Sep 30, 2022 | -48.85 Mn |
| Jun 30, 2022 | -21.06 Mn |
| Mar 31, 2022 | -19.83 Mn |
| Dec 31, 2021 | -120.43 Mn |
| Sep 30, 2021 | -25.51 Mn |
| Jun 30, 2021 | -22.72 Mn |
| Mar 31, 2021 | -16.45 Mn |