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Workhorse Group Inc. cash flow statement

In fiscal 2025, Workhorse Group Inc.'s operations generated −$35.6m of cash; it spent $603,000 on capital projects, leaving free cash flow of −$36.2m.

Cash flow statement

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

Fiscal year2010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−3−6−2−3−4−8−19−39−22−37−70−133−94−123−38−36−54
Depreciation and amortisation00000001001224114
Stock-based pay120100111245111311−0
Capital spending0000001002651719511
Free cash flow−3−6−2−3−4−8−20−39−22−39−76−138−111−142−43−36−55
Free cash flow after stock pay−5−8−3−4−5−9−20−40−23−41−80−143−123−155−43−37−55
Shares issued45—443—371660013627——

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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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.