Workhorse Group Inc. balance sheet

At the end of fiscal 2025, Workhorse Group Inc. had total assets of $118m, total liabilities of $74.8m and shareholders' equity of $43.0m. It held $12.2m in cash against $15.4m of debt.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Workhorse Group Inc.: balance sheet, annual
Fiscal year	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	0	0	0	0	0	8	0	4	2	24	47	202	99	26	7	12	10
Receivables	0	0	—	—	—	—	1	1	0	0	1	0	2	2	4	4	2
Inventory	—	0	0	0	0	0	2	5	3	2	15	10	9	45	21	39	38
Total current assets	0	0	0	0	1	11	4	11	6	32	290	216	139	94	34	60	56
Goodwill	—	—	—	—	—	—	—	—	—	—	—	—	—	0	0	3	3
Total assets	1	0	0	5	5	15	10	17	12	51	633	228	183	142	37	118	110
Accounts payable	0	1	1	2	2	2	3	6	4	2	5	8	10	12	2	16	14
Deferred revenue (current)	—	—	—	—	—	—	—	—	0	0	1	0	3	5	1	2	1
Total current liabilities	1	2	2	4	3	18	4	11	19	47	18	28	63	53	77	39	44
Short-term debt	0	0	0	0	0	3	0	0	0	0	1	0	—	76	68	0	18
Long-term debt	0	0	0	2	2	3	2	2	8	0	—	—	—	—	0	15	36
Total debt	0	0	1	3	4	16	2	7	8	39	2	0	0	76	68	15	54
Total liabilities	—	—	—	—	—	—	—	—	—	86	237	53	74	59	78	75	103
Shareholders' equity	−0	−2	−3	−2	−1	−4	4	4	−15	−35	395	175	109	−56	−41	43	7
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	—	—	—	—	—	—	—	—	—	139	—	—	—
Shares outstanding	28m	—	—	—	—	—	—	—	—	—	—	—	—	—	—	10m	11m

US$ millions unless shown otherwise. Fiscal quarters.

Workhorse Group Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	1	4	0	2	1	4	3	2
Inventory	43	21	41	33	30	39	37	38
Total current assets	57	34	78	64	73	60	47	56
Goodwill	—	0	—	—	—	3	3	3
Total assets	101	37	115	99	117	118	103	110
Accounts payable	11	2	11	11	11	16	13	14
Deferred revenue (current)	6	1	6	3	1	2	1	1
Total current liabilities	50	77	80	73	60	39	38	44
Short-term debt	—	68	—	—	—	0	5	18
Long-term debt	—	0	—	—	5	15	16	36
Total debt	—	68	—	—	5	15	21	54
Total liabilities	54	78	84	77	85	75	77	103
Shareholders' equity	47	−41	−53	−66	32	43	26	7
Non-controlling interests and other (assets − liabilities − equity)	—	—	85	88	—	—	—	—
Shares outstanding	32m	4m	6m	11m	21m	10m	10m	11m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

Compare with peers

Head to head: EZGO vs WKHS FLYE vs WKHS WKHS vs XOS

More: Automobile Manufacturers stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Workhorse Group Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Workhorse Group Inc.