Worksport Ltd. (WKSP) 10-Year Financial Performance & Capital Metrics

WKSP • • Industrial / General

Consumer CyclicalAuto Parts & EquipmentSpecialty Vehicle ComponentsSpecialty & Performance Parts

AboutWorksport Ltd., through its subsidiary, designs, manufactures, and distributes truck tonneau covers in Canada and the United States. The company offers soft cover (SC) and tough cover (TC) tonneau covers, including SC3, a tri-fold cover that seals around the truck bed with a rubber gasket designed to protect cargo from moisture and debris; SC3pro that allows the operator to open the cover by pulling a release cable; and TC3, a thick aluminum tri-cover panel with a honey-comb core coated in a durable black scratch-resistant powder coating. It is also developing TerraVis, a solar cover tonneau cover that gives rechargeable portable power to pickup truck owners. The company distributes its products through wholesalers and online retail channels. It serves private labels and original equipment manufacturers. Worksport Ltd. has a collaboration agreement with Greatcell Energy Pty Ltd. The company was formerly known as Franchise Holdings International, Inc. and changed its name to Worksport Ltd. in May 2020. Worksport Ltd. is based in Vaughan, Canada.Show more

Revenue $8M +454.7%
EBITDA -$14M -0.6%
Net Income -$16M -8.3%
EPS (Diluted) -5.84 -289.3%
Gross Margin 10.67% -32.1%
EBITDA Margin -161.62% +81.9%
Operating Margin -182.29% +81.1%
Net Margin -190.51% +80.5%
ROE -90.83% -28.7%
ROIC -59.18% +0.5%
Debt/Equity 0.32 -6.0%
Interest Coverage -21.30 +10.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 34.5%
✓Share count reduced 72.3% through buybacks
✓Trading at only 0.4x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 9 (bottom 9%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y30.48%

5Y34.52%

3Y203.41%

TTM232.13%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-8.44%

EPS CAGR

10Y-

5Y-

3Y-

TTM-182.47%

ROCE

10Y Avg-92086.81%

5Y Avg-150.72%

3Y Avg-58.09%

Latest-74.8%

Peer Comparison

Specialty & Performance Parts

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FOXFFox Factory Holding Corp.	806.77M	19.30	120.63	-4.8%	-17.66%	-26.96%	10.88%	0.60
WKSPWorksport Ltd.	18.57M	2.25	-0.39	454.67%	-134.17%	-96.04%		0.32
HLLYHolley Inc.	503.94M	4.22	-21.10	-8.71%	-4.16%	-5.66%	7.96%	1.32
CREVCarbon Revolution Public Limited Ordinary Shares	3.24M	1.68		86.77%	-79.61%
CREVWCarbon Revolution Public Limited Company Warrant		0.01		86.77%	-309.38%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	651.67K	361.12K	408.7K	481.52K	1.93M	346.14K	303.75K	116.5K	1.53M	8.48M
Revenue Growth %	0.1%	-0.45%	0.13%	0.18%	3%	-0.82%	-0.12%	-0.62%	12.13%	4.55%
Cost of Goods Sold+	532.58K	334.06K	231.77K	384.91K	1.69M	299K	350.7K	56.97K	1.29M	7.58M
COGS % of Revenue	0.82%	0.93%	0.57%	0.8%	0.88%	0.86%	1.15%	0.49%	0.84%	0.89%
Gross Profit+	119.09K	27.06K	176.93K	96.61K	238.55K	47.15K	-46.95K	59.53K	240.51K	905.65K
Gross Margin %	0.18%	0.07%	0.43%	0.2%	0.12%	0.14%	-0.15%	0.51%	0.16%	0.11%
Gross Profit Growth %	-0.24%	-0.77%	5.54%	-0.45%	1.47%	-0.8%	-2%	2.27%	3.04%	2.77%
Operating Expenses+	3.54M	389.28K	1.95M	1.31M	776.4K	1.03M	7.51M	12.83M	14.98M	16.37M
OpEx % of Revenue	5.42%	1.08%	4.78%	2.72%	0.4%	2.99%	24.74%	110.15%	9.79%	1.93%
Selling, General & Admin	3.48M	381.62K	1.95M	1.22M	859.85K	1.03M	7.51M	12.84M	13.31M	14.1M
SG&A % of Revenue	5.35%	1.06%	4.78%	2.54%	0.45%	2.97%	24.73%	110.24%	8.7%	1.66%
Research & Development	47.35K	0	0	0	0	0	0	0	1.67M	2.29M
R&D % of Revenue	0.07%	-	-	-	-	-	-	-	1.09%	0.27%
Other Operating Expenses	4.48K	7.66K	0	84.31K	-83.45K	3.8K	4.17K	-10.46K	-2.69K	-14.88K
Operating Income+	-3.42M	-362.22K	-1.78M	-1.21M	-537.85K	-986.24K	-7.56M	-12.77M	-14.74M	-15.47M
Operating Margin %	-5.24%	-1%	-4.36%	-2.52%	-0.28%	-2.85%	-24.89%	-109.64%	-9.63%	-1.82%
Operating Income Growth %	-6.31%	0.89%	-3.92%	0.32%	0.56%	-0.83%	-6.67%	-0.69%	-0.15%	-0.05%
EBITDA+	-3.42M	-361.22K	-1.78M	-1.21M	-526.41K	-959.28K	-7.49M	-12.29M	-13.63M	-13.71M
EBITDA Margin %	-5.24%	-1%	-4.35%	-2.51%	-0.27%	-2.77%	-24.67%	-105.47%	-8.91%	-1.62%
EBITDA Growth %	-6.31%	0.89%	-3.93%	0.32%	0.56%	-0.82%	-6.81%	-0.64%	-0.11%	-0.01%
D&A (Non-Cash Add-back)	882	998	1.29K	1.52K	11.44K	26.96K	66.88K	486.58K	1.11M	1.75M
EBIT	-3.48M	-1.01M	-3.39M	-1.71M	-287.07K	-801.37K	-7.6M	-12.05M	-14.31M	-15.44M
Net Interest Income+	-23.67K	-201.88K	-170.12K	-55.97K	-71.96K	-386.25K	-291.23K	-276.41K	-376.86K	-688.6K
Interest Income	0	0	0	0	0	0	3.69K	212.29K	239.35K	37.49K
Interest Expense	23.67K	201.88K	170.12K	55.97K	71.96K	386.25K	294.92K	488.7K	616.21K	726.1K
Other Income/Expense	-61.95K	-774K	-1.62M	-551.91K	178.82K	-201.38K	-335.35K	239.3K	-192.3K	-697.96K
Pretax Income+	-3.49M	-1.14M	-3.4M	-1.76M	-359.03K	-1.19M	-7.9M	-12.53M	-14.93M	-16.16M
Pretax Margin %	-5.35%	-3.15%	-8.33%	-3.66%	-0.19%	-3.43%	-26%	-107.59%	-9.76%	-1.91%
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-3.49M	-1.14M	-3.4M	-1.76M	-359.03K	-1.19M	-7.9M	-12.53M	-14.93M	-16.16M
Net Margin %	-5.35%	-3.15%	-8.33%	-3.66%	-0.19%	-3.43%	-26%	-107.59%	-9.76%	-1.91%
Net Income Growth %	-6.28%	0.67%	-2%	0.48%	0.8%	-2.31%	-5.65%	-0.59%	-0.19%	-0.08%
Net Income (Continuing)	-3.49M	-1.14M	-3.4M	-1.76M	-359.03K	-1.19M	-7.9M	-12.53M	-14.93M	-16.16M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-6.21	-2.03	-3.33	-1.58	-0.19	-0.43	-0.71	-1.26	-1.50	-5.84
EPS Growth %	0.69%	0.67%	-0.64%	0.53%	0.88%	-1.26%	-0.65%	-0.77%	-0.19%	-2.89%
EPS (Basic)	-6.23	-2.03	-3.34	-1.58	-0.19	-0.43	-0.71	-1.74	-2.07	-5.84
Diluted Shares Outstanding	561.34K	560.58K	1.02M	1.12M	1.84M	2.73M	11.5M	9.98M	9.98M	2.77M
Basic Shares Outstanding	559.75K	560.58K	1.02M	1.12M	1.84M	2.73M	11.5M	7.22M	7.22M	2.77M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	252.59K	284.16K	712.83K	500.83K	253.69K	1.68M	34.03M	18.33M	9.12M	10.48M
Cash & Short-Term Investments	14.47K	0	66.96K	25.32K	11.99K	1.12M	28.57M	15.32M	4.86M	4.88M
Cash Only	14.47K	0	66.96K	25.32K	11.99K	1.11M	28.57M	14.62M	3.37M	4.88M
Short-Term Investments	0	0	0	0	0	14.51K	0	699.76K	1.49M	0
Accounts Receivable	104.51K	88.92K	189.5K	61.88K	67.8K	122.79K	247.41K	330.63K	628.99K	212.32K
Days Sales Outstanding	58.54	89.87	169.24	46.91	12.85	129.48	297.29	1.04K	150.09	9.13
Inventory	129.01K	78.97K	44.63K	289.52K	113.16K	40.8K	501.77K	1.35M	3.63M	5.19M
Days Inventory Outstanding	88.41	86.29	70.29	274.54	24.47	49.81	522.23	8.63K	1.03K	249.96
Other Current Assets	0	0	0	0	0	167.84K	0	0	0	90.51K
Total Non-Current Assets+	50.18K	52.59K	192.64K	56.53K	227.62K	217.39K	2.26M	14.43M	16.83M	15.26M
Property, Plant & Equipment	39.4K	39.26K	43.08K	43.86K	154.82K	130.02K	1.64M	13.14M	15.4M	14.24M
Fixed Asset Turnover	16.54x	9.20x	9.49x	10.98x	12.44x	2.66x	0.18x	0.01x	0.10x	0.60x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	10.78K	13.33K	13.1K	12.67K	57.15K	62.95K	593.05K	1.27M	1.34M	953.05K
Long-Term Investments	0	9.35K	10.76K	1.58K	15.66K	24.42K	26K	24.42K	90.73K	66.31K
Other Non-Current Assets	0	-9.35K	136.47K	-1.58K	15.66K	0	22.85K	24.42K	0	0
Total Assets+	302.77K	336.75K	905.47K	557.37K	481.31K	1.9M	36.29M	32.76M	25.95M	25.74M
Asset Turnover	2.15x	1.07x	0.45x	0.86x	4.00x	0.18x	0.01x	0.00x	0.06x	0.33x
Asset Growth %	0.06%	0.11%	1.69%	-0.38%	-0.14%	2.95%	18.08%	-0.1%	-0.21%	-0.01%
Total Current Liabilities+	294.41K	1.24M	533.94K	780.93K	1.32M	1.72M	1.8M	2.46M	7.17M	3.17M
Accounts Payable	248.3K	340.27K	230.77K	401.77K	969.32K	891.9K	1.14M	2.03M	1.26M	1.53M
Days Payables Outstanding	170.17	371.79	363.42	380.99	209.62	1.09K	1.19K	13K	356.84	73.52
Short-Term Debt	41.46K	187.6K	298.06K	296.8K	296.52K	674.29K	327.14K	46.1K	5.3M	222.99K
Deferred Revenue (Current)	0	4.8K	0	0	0	0	0	0	0	0
Other Current Liabilities	0	700.07K	0	82.36K	36.84K	1	112.19K	0	190.9K	377.11K
Current Ratio	0.86x	0.23x	1.34x	0.64x	0.19x	0.98x	18.94x	7.45x	1.27x	3.30x
Quick Ratio	0.42x	0.17x	1.25x	0.27x	0.11x	0.96x	18.66x	6.90x	0.77x	1.67x
Cash Conversion Cycle	-23.22	-195.63	-123.89	-59.54	-172.3	-909.5	-371.67	-3.33K	821.47	185.57
Total Non-Current Liabilities+	4.64K	104.08K	528.83K	698.56K	39.19K	14.62K	316.99K	6.18M	608.76K	5.15M
Long-Term Debt	4.64K	104.08K	0	0	0	0	0	5.3M	0	4.78M
Capital Lease Obligations	0	0	0	0	39.19K	14.62K	316.99K	884.15K	608.76K	368.47K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	0
Total Liabilities	299.05K	1.34M	533.94K	780.93K	1.36M	1.73M	2.11M	8.65M	7.78M	8.32M
Total Debt+	46.1K	291.68K	298.06K	296.8K	357.7K	712.79K	857.06K	6.62M	6.24M	5.62M
Net Debt	31.63K	291.68K	231.09K	271.47K	345.71K	-395.02K	-27.71M	-8M	2.87M	735.9K
Debt / Equity	12.40x	-	0.80x	-	-	4.21x	0.03x	0.27x	0.34x	0.32x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-144.29x	-1.79x	-10.47x	-21.64x	-7.47x	-2.55x	-25.64x	-26.14x	-23.91x	-21.30x
Total Equity+	3.72K	-1M	371.53K	-223.56K	-882.56K	169.47K	34.18M	24.12M	18.18M	17.41M
Equity Growth %	1.5%	-271.2%	1.37%	-1.6%	-2.95%	1.19%	200.68%	-0.29%	-0.25%	-0.04%
Book Value per Share	0.01	-1.79	0.36	-0.20	-0.48	0.06	2.97	2.42	1.82	6.29
Total Shareholders' Equity	3.72K	-1M	371.53K	-223.56K	-882.56K	169.47K	34.18M	24.12M	18.18M	17.41M
Common Stock	6.69K	6.81K	12.23K	2.46K	4.19K	382	1.7K	1.72K	2.03K	4.02K
Retained Earnings	-4.05M	-5.19M	-8.59M	-10.35M	-11.68M	-12.87M	-20.85M	-33.38M	-48.31M	-64.48M
Treasury Stock	0	0	-10.19K	0	0	0	0	0	0	0
Accumulated OCI	-6.21K	-3.78K	-44.38K	-3.61K	2.15M	369.27K	-8.58K	-8.58K	1.8M	-8.58K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-542.04K	-237.02K	-194.94K	-379.28K	-13.25K	-726.3K	-4.05M	-7.98M	-11.93M	-10.14M
Operating CF Margin %	-0.83%	-0.66%	-0.48%	-0.79%	-0.01%	-2.1%	-13.32%	-68.48%	-7.8%	-1.19%
Operating CF Growth %	-16.13%	0.56%	0.18%	-0.95%	0.97%	-53.8%	-4.57%	-0.97%	-0.5%	0.15%
Net Income	-3.49M	-1.14M	-3.4M	-1.76M	-414.61K	-1.19M	-7.9M	-12.53M	-14.93M	-16.16M
Depreciation & Amortization	882	998	1.29K	1.52K	11.44K	26.96K	211.74K	486.58K	1.11M	1.75M
Stock-Based Compensation	2.95M	0	1.47M	0	0	415.67K	3.92M	4.9M	5.75M	0
Deferred Taxes	0	0	0	0	0	-415.67K	-3.92M	0	0	0
Other Non-Cash Items	42.82K	747.48K	1.56M	505.12K	-140.91K	635.64K	4.25M	-264.18K	-13.78K	2.97M
Working Capital Changes	-50.93K	150.72K	178.97K	877.12K	530.83K	-201.28K	-612.77K	-565.38K	-3.85M	1.3M
Change in Receivables	-77.23K	14.42K	-108.36K	127.62K	-5.91K	-119.81K	-2.23K	83	-400.52K	383.7K
Change in Inventory	-40.24K	50.03K	14.66K	-225.2K	122.07K	72.35K	-460.97K	-844.6K	-2.29M	-1.56M
Change in Payables	65.94K	91.97K	104.46K	343.05K	405.21K	-59.28K	187.51K	995.34K	-577.12K	1.17M
Cash from Investing+	-138.47K	-3.41K	-4.87K	-1.87K	-114.01K	-16.73K	-1.13M	-11.15M	-3.76M	-528.24K
Capital Expenditures	-43.46K	-3.41K	-4.87K	-1.87K	-98.35K	-7.96K	-1.13M	-11.15M	-3.69M	-528.24K
CapEx % of Revenue	0.07%	0.01%	0.01%	0%	0.05%	0.02%	3.73%	95.71%	2.41%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	-66.31K	0
Cash from Financing+	574.29K	223.53K	307.38K	298.74K	117.84K	1.81M	32.64M	5.18M	4.43M	12.18M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	9.9K	0	-11.06K	19.27K	-80.15K	8.3M	0	0	3.75M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-585.5K	-240.43K	-199.82K	-381.15K	-111.61K	-734.27K	-5.18M	-19.13M	-15.62M	-10.67M
FCF Margin %	-0.9%	-0.67%	-0.49%	-0.79%	-0.06%	-2.12%	-17.05%	-164.19%	-10.21%	-1.26%
FCF Growth %	-17.5%	0.59%	0.17%	-0.91%	0.71%	-5.58%	-6.05%	-2.69%	0.18%	0.32%
FCF per Share	-1.04	-0.43	-0.20	-0.34	-0.06	-0.27	-0.45	-1.92	-1.56	-3.85
FCF Conversion (FCF/Net Income)	0.16x	0.21x	0.06x	0.22x	0.04x	0.61x	0.51x	0.64x	0.80x	0.63x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-93782.12%	-	-915.97%	-2382.95%	-	-700.76%	-45.98%	-43%	-70.59%	-90.83%
Return on Invested Capital (ROIC)	-	-	-	-279.26%	-	-	-181.64%	-84.84%	-59.47%	-59.18%
Gross Margin	18.27%	7.49%	43.29%	20.06%	12.38%	13.62%	-15.46%	51.1%	15.72%	10.67%
Net Margin	-535.21%	-314.64%	-832.66%	-366.14%	-18.64%	-343.1%	-2599.86%	-10758.97%	-975.98%	-190.51%
Debt / Equity	12.40x	-	0.80x	-	-	4.21x	0.03x	0.27x	0.34x	0.32x
Interest Coverage	-144.29x	-1.79x	-10.47x	-21.64x	-7.47x	-2.55x	-25.64x	-26.14x	-23.91x	-21.30x
FCF Conversion	0.16x	0.21x	0.06x	0.22x	0.04x	0.61x	0.51x	0.64x	0.80x	0.63x
Revenue Growth	9.89%	-44.58%	13.18%	17.82%	300.07%	-82.03%	-12.25%	-61.65%	1212.97%	454.67%

Revenue by Geography

	2024
Other	19.29K
Other Growth	-

Frequently Asked Questions

Growth & Financials

Worksport Ltd. (WKSP) reported $12.4M in revenue for fiscal year 2024.

Worksport Ltd. (WKSP) grew revenue by 454.7% over the past year. This is strong growth.

Worksport Ltd. (WKSP) reported a net loss of $16.6M for fiscal year 2024.

Dividend & Returns

Worksport Ltd. (WKSP) has a return on equity (ROE) of -90.8%. Negative ROE indicates the company is unprofitable.

Worksport Ltd. (WKSP) had negative free cash flow of $11.4M in fiscal year 2024, likely due to heavy capital investments.

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Worksport Ltd. (WKSP) 10-Year Financial Performance & Capital Metrics

WKSP • • Industrial / General

Consumer CyclicalAuto Parts & EquipmentSpecialty Vehicle ComponentsSpecialty & Performance Parts

Revenue $8M +454.7%
EBITDA -$14M -0.6%
Net Income -$16M -8.3%
EPS (Diluted) -5.84 -289.3%
Gross Margin 10.67% -32.1%
EBITDA Margin -161.62% +81.9%
Operating Margin -182.29% +81.1%
Net Margin -190.51% +80.5%
ROE -90.83% -28.7%
ROIC -59.18% +0.5%
Debt/Equity 0.32 -6.0%
Interest Coverage -21.30 +10.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 34.5%
✓Share count reduced 72.3% through buybacks
✓Trading at only 0.4x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 9 (bottom 9%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y30.48%

5Y34.52%

3Y203.41%

TTM232.13%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-8.44%

EPS CAGR

10Y-

5Y-

3Y-

TTM-182.47%

ROCE

10Y Avg-92086.81%

5Y Avg-150.72%

3Y Avg-58.09%

Latest-74.8%

Peer Comparison

Specialty & Performance Parts

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FOXFFox Factory Holding Corp.	806.77M	19.30	120.63	-4.8%	-17.66%	-26.96%	10.88%	0.60
WKSPWorksport Ltd.	18.57M	2.25	-0.39	454.67%	-134.17%	-96.04%		0.32
HLLYHolley Inc.	503.94M	4.22	-21.10	-8.71%	-4.16%	-5.66%	7.96%	1.32
CREVCarbon Revolution Public Limited Ordinary Shares	3.24M	1.68		86.77%	-79.61%
CREVWCarbon Revolution Public Limited Company Warrant		0.01		86.77%	-309.38%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	651.67K	361.12K	408.7K	481.52K	1.93M	346.14K	303.75K	116.5K	1.53M	8.48M
Revenue Growth %	0.1%	-0.45%	0.13%	0.18%	3%	-0.82%	-0.12%	-0.62%	12.13%	4.55%
Cost of Goods Sold+	532.58K	334.06K	231.77K	384.91K	1.69M	299K	350.7K	56.97K	1.29M	7.58M
COGS % of Revenue	0.82%	0.93%	0.57%	0.8%	0.88%	0.86%	1.15%	0.49%	0.84%	0.89%
Gross Profit+	119.09K	27.06K	176.93K	96.61K	238.55K	47.15K	-46.95K	59.53K	240.51K	905.65K
Gross Margin %	0.18%	0.07%	0.43%	0.2%	0.12%	0.14%	-0.15%	0.51%	0.16%	0.11%
Gross Profit Growth %	-0.24%	-0.77%	5.54%	-0.45%	1.47%	-0.8%	-2%	2.27%	3.04%	2.77%
Operating Expenses+	3.54M	389.28K	1.95M	1.31M	776.4K	1.03M	7.51M	12.83M	14.98M	16.37M
OpEx % of Revenue	5.42%	1.08%	4.78%	2.72%	0.4%	2.99%	24.74%	110.15%	9.79%	1.93%
Selling, General & Admin	3.48M	381.62K	1.95M	1.22M	859.85K	1.03M	7.51M	12.84M	13.31M	14.1M
SG&A % of Revenue	5.35%	1.06%	4.78%	2.54%	0.45%	2.97%	24.73%	110.24%	8.7%	1.66%
Research & Development	47.35K	0	0	0	0	0	0	0	1.67M	2.29M
R&D % of Revenue	0.07%	-	-	-	-	-	-	-	1.09%	0.27%
Other Operating Expenses	4.48K	7.66K	0	84.31K	-83.45K	3.8K	4.17K	-10.46K	-2.69K	-14.88K
Operating Income+	-3.42M	-362.22K	-1.78M	-1.21M	-537.85K	-986.24K	-7.56M	-12.77M	-14.74M	-15.47M
Operating Margin %	-5.24%	-1%	-4.36%	-2.52%	-0.28%	-2.85%	-24.89%	-109.64%	-9.63%	-1.82%
Operating Income Growth %	-6.31%	0.89%	-3.92%	0.32%	0.56%	-0.83%	-6.67%	-0.69%	-0.15%	-0.05%
EBITDA+	-3.42M	-361.22K	-1.78M	-1.21M	-526.41K	-959.28K	-7.49M	-12.29M	-13.63M	-13.71M
EBITDA Margin %	-5.24%	-1%	-4.35%	-2.51%	-0.27%	-2.77%	-24.67%	-105.47%	-8.91%	-1.62%
EBITDA Growth %	-6.31%	0.89%	-3.93%	0.32%	0.56%	-0.82%	-6.81%	-0.64%	-0.11%	-0.01%
D&A (Non-Cash Add-back)	882	998	1.29K	1.52K	11.44K	26.96K	66.88K	486.58K	1.11M	1.75M
EBIT	-3.48M	-1.01M	-3.39M	-1.71M	-287.07K	-801.37K	-7.6M	-12.05M	-14.31M	-15.44M
Net Interest Income+	-23.67K	-201.88K	-170.12K	-55.97K	-71.96K	-386.25K	-291.23K	-276.41K	-376.86K	-688.6K
Interest Income	0	0	0	0	0	0	3.69K	212.29K	239.35K	37.49K
Interest Expense	23.67K	201.88K	170.12K	55.97K	71.96K	386.25K	294.92K	488.7K	616.21K	726.1K
Other Income/Expense	-61.95K	-774K	-1.62M	-551.91K	178.82K	-201.38K	-335.35K	239.3K	-192.3K	-697.96K
Pretax Income+	-3.49M	-1.14M	-3.4M	-1.76M	-359.03K	-1.19M	-7.9M	-12.53M	-14.93M	-16.16M
Pretax Margin %	-5.35%	-3.15%	-8.33%	-3.66%	-0.19%	-3.43%	-26%	-107.59%	-9.76%	-1.91%
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-3.49M	-1.14M	-3.4M	-1.76M	-359.03K	-1.19M	-7.9M	-12.53M	-14.93M	-16.16M
Net Margin %	-5.35%	-3.15%	-8.33%	-3.66%	-0.19%	-3.43%	-26%	-107.59%	-9.76%	-1.91%
Net Income Growth %	-6.28%	0.67%	-2%	0.48%	0.8%	-2.31%	-5.65%	-0.59%	-0.19%	-0.08%
Net Income (Continuing)	-3.49M	-1.14M	-3.4M	-1.76M	-359.03K	-1.19M	-7.9M	-12.53M	-14.93M	-16.16M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-6.21	-2.03	-3.33	-1.58	-0.19	-0.43	-0.71	-1.26	-1.50	-5.84
EPS Growth %	0.69%	0.67%	-0.64%	0.53%	0.88%	-1.26%	-0.65%	-0.77%	-0.19%	-2.89%
EPS (Basic)	-6.23	-2.03	-3.34	-1.58	-0.19	-0.43	-0.71	-1.74	-2.07	-5.84
Diluted Shares Outstanding	561.34K	560.58K	1.02M	1.12M	1.84M	2.73M	11.5M	9.98M	9.98M	2.77M
Basic Shares Outstanding	559.75K	560.58K	1.02M	1.12M	1.84M	2.73M	11.5M	7.22M	7.22M	2.77M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	252.59K	284.16K	712.83K	500.83K	253.69K	1.68M	34.03M	18.33M	9.12M	10.48M
Cash & Short-Term Investments	14.47K	0	66.96K	25.32K	11.99K	1.12M	28.57M	15.32M	4.86M	4.88M
Cash Only	14.47K	0	66.96K	25.32K	11.99K	1.11M	28.57M	14.62M	3.37M	4.88M
Short-Term Investments	0	0	0	0	0	14.51K	0	699.76K	1.49M	0
Accounts Receivable	104.51K	88.92K	189.5K	61.88K	67.8K	122.79K	247.41K	330.63K	628.99K	212.32K
Days Sales Outstanding	58.54	89.87	169.24	46.91	12.85	129.48	297.29	1.04K	150.09	9.13
Inventory	129.01K	78.97K	44.63K	289.52K	113.16K	40.8K	501.77K	1.35M	3.63M	5.19M
Days Inventory Outstanding	88.41	86.29	70.29	274.54	24.47	49.81	522.23	8.63K	1.03K	249.96
Other Current Assets	0	0	0	0	0	167.84K	0	0	0	90.51K
Total Non-Current Assets+	50.18K	52.59K	192.64K	56.53K	227.62K	217.39K	2.26M	14.43M	16.83M	15.26M
Property, Plant & Equipment	39.4K	39.26K	43.08K	43.86K	154.82K	130.02K	1.64M	13.14M	15.4M	14.24M
Fixed Asset Turnover	16.54x	9.20x	9.49x	10.98x	12.44x	2.66x	0.18x	0.01x	0.10x	0.60x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	10.78K	13.33K	13.1K	12.67K	57.15K	62.95K	593.05K	1.27M	1.34M	953.05K
Long-Term Investments	0	9.35K	10.76K	1.58K	15.66K	24.42K	26K	24.42K	90.73K	66.31K
Other Non-Current Assets	0	-9.35K	136.47K	-1.58K	15.66K	0	22.85K	24.42K	0	0
Total Assets+	302.77K	336.75K	905.47K	557.37K	481.31K	1.9M	36.29M	32.76M	25.95M	25.74M
Asset Turnover	2.15x	1.07x	0.45x	0.86x	4.00x	0.18x	0.01x	0.00x	0.06x	0.33x
Asset Growth %	0.06%	0.11%	1.69%	-0.38%	-0.14%	2.95%	18.08%	-0.1%	-0.21%	-0.01%
Total Current Liabilities+	294.41K	1.24M	533.94K	780.93K	1.32M	1.72M	1.8M	2.46M	7.17M	3.17M
Accounts Payable	248.3K	340.27K	230.77K	401.77K	969.32K	891.9K	1.14M	2.03M	1.26M	1.53M
Days Payables Outstanding	170.17	371.79	363.42	380.99	209.62	1.09K	1.19K	13K	356.84	73.52
Short-Term Debt	41.46K	187.6K	298.06K	296.8K	296.52K	674.29K	327.14K	46.1K	5.3M	222.99K
Deferred Revenue (Current)	0	4.8K	0	0	0	0	0	0	0	0
Other Current Liabilities	0	700.07K	0	82.36K	36.84K	1	112.19K	0	190.9K	377.11K
Current Ratio	0.86x	0.23x	1.34x	0.64x	0.19x	0.98x	18.94x	7.45x	1.27x	3.30x
Quick Ratio	0.42x	0.17x	1.25x	0.27x	0.11x	0.96x	18.66x	6.90x	0.77x	1.67x
Cash Conversion Cycle	-23.22	-195.63	-123.89	-59.54	-172.3	-909.5	-371.67	-3.33K	821.47	185.57
Total Non-Current Liabilities+	4.64K	104.08K	528.83K	698.56K	39.19K	14.62K	316.99K	6.18M	608.76K	5.15M
Long-Term Debt	4.64K	104.08K	0	0	0	0	0	5.3M	0	4.78M
Capital Lease Obligations	0	0	0	0	39.19K	14.62K	316.99K	884.15K	608.76K	368.47K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	0
Total Liabilities	299.05K	1.34M	533.94K	780.93K	1.36M	1.73M	2.11M	8.65M	7.78M	8.32M
Total Debt+	46.1K	291.68K	298.06K	296.8K	357.7K	712.79K	857.06K	6.62M	6.24M	5.62M
Net Debt	31.63K	291.68K	231.09K	271.47K	345.71K	-395.02K	-27.71M	-8M	2.87M	735.9K
Debt / Equity	12.40x	-	0.80x	-	-	4.21x	0.03x	0.27x	0.34x	0.32x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-144.29x	-1.79x	-10.47x	-21.64x	-7.47x	-2.55x	-25.64x	-26.14x	-23.91x	-21.30x
Total Equity+	3.72K	-1M	371.53K	-223.56K	-882.56K	169.47K	34.18M	24.12M	18.18M	17.41M
Equity Growth %	1.5%	-271.2%	1.37%	-1.6%	-2.95%	1.19%	200.68%	-0.29%	-0.25%	-0.04%
Book Value per Share	0.01	-1.79	0.36	-0.20	-0.48	0.06	2.97	2.42	1.82	6.29
Total Shareholders' Equity	3.72K	-1M	371.53K	-223.56K	-882.56K	169.47K	34.18M	24.12M	18.18M	17.41M
Common Stock	6.69K	6.81K	12.23K	2.46K	4.19K	382	1.7K	1.72K	2.03K	4.02K
Retained Earnings	-4.05M	-5.19M	-8.59M	-10.35M	-11.68M	-12.87M	-20.85M	-33.38M	-48.31M	-64.48M
Treasury Stock	0	0	-10.19K	0	0	0	0	0	0	0
Accumulated OCI	-6.21K	-3.78K	-44.38K	-3.61K	2.15M	369.27K	-8.58K	-8.58K	1.8M	-8.58K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-542.04K	-237.02K	-194.94K	-379.28K	-13.25K	-726.3K	-4.05M	-7.98M	-11.93M	-10.14M
Operating CF Margin %	-0.83%	-0.66%	-0.48%	-0.79%	-0.01%	-2.1%	-13.32%	-68.48%	-7.8%	-1.19%
Operating CF Growth %	-16.13%	0.56%	0.18%	-0.95%	0.97%	-53.8%	-4.57%	-0.97%	-0.5%	0.15%
Net Income	-3.49M	-1.14M	-3.4M	-1.76M	-414.61K	-1.19M	-7.9M	-12.53M	-14.93M	-16.16M
Depreciation & Amortization	882	998	1.29K	1.52K	11.44K	26.96K	211.74K	486.58K	1.11M	1.75M
Stock-Based Compensation	2.95M	0	1.47M	0	0	415.67K	3.92M	4.9M	5.75M	0
Deferred Taxes	0	0	0	0	0	-415.67K	-3.92M	0	0	0
Other Non-Cash Items	42.82K	747.48K	1.56M	505.12K	-140.91K	635.64K	4.25M	-264.18K	-13.78K	2.97M
Working Capital Changes	-50.93K	150.72K	178.97K	877.12K	530.83K	-201.28K	-612.77K	-565.38K	-3.85M	1.3M
Change in Receivables	-77.23K	14.42K	-108.36K	127.62K	-5.91K	-119.81K	-2.23K	83	-400.52K	383.7K
Change in Inventory	-40.24K	50.03K	14.66K	-225.2K	122.07K	72.35K	-460.97K	-844.6K	-2.29M	-1.56M
Change in Payables	65.94K	91.97K	104.46K	343.05K	405.21K	-59.28K	187.51K	995.34K	-577.12K	1.17M
Cash from Investing+	-138.47K	-3.41K	-4.87K	-1.87K	-114.01K	-16.73K	-1.13M	-11.15M	-3.76M	-528.24K
Capital Expenditures	-43.46K	-3.41K	-4.87K	-1.87K	-98.35K	-7.96K	-1.13M	-11.15M	-3.69M	-528.24K
CapEx % of Revenue	0.07%	0.01%	0.01%	0%	0.05%	0.02%	3.73%	95.71%	2.41%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	-66.31K	0
Cash from Financing+	574.29K	223.53K	307.38K	298.74K	117.84K	1.81M	32.64M	5.18M	4.43M	12.18M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	9.9K	0	-11.06K	19.27K	-80.15K	8.3M	0	0	3.75M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-585.5K	-240.43K	-199.82K	-381.15K	-111.61K	-734.27K	-5.18M	-19.13M	-15.62M	-10.67M
FCF Margin %	-0.9%	-0.67%	-0.49%	-0.79%	-0.06%	-2.12%	-17.05%	-164.19%	-10.21%	-1.26%
FCF Growth %	-17.5%	0.59%	0.17%	-0.91%	0.71%	-5.58%	-6.05%	-2.69%	0.18%	0.32%
FCF per Share	-1.04	-0.43	-0.20	-0.34	-0.06	-0.27	-0.45	-1.92	-1.56	-3.85
FCF Conversion (FCF/Net Income)	0.16x	0.21x	0.06x	0.22x	0.04x	0.61x	0.51x	0.64x	0.80x	0.63x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-93782.12%	-	-915.97%	-2382.95%	-	-700.76%	-45.98%	-43%	-70.59%	-90.83%
Return on Invested Capital (ROIC)	-	-	-	-279.26%	-	-	-181.64%	-84.84%	-59.47%	-59.18%
Gross Margin	18.27%	7.49%	43.29%	20.06%	12.38%	13.62%	-15.46%	51.1%	15.72%	10.67%
Net Margin	-535.21%	-314.64%	-832.66%	-366.14%	-18.64%	-343.1%	-2599.86%	-10758.97%	-975.98%	-190.51%
Debt / Equity	12.40x	-	0.80x	-	-	4.21x	0.03x	0.27x	0.34x	0.32x
Interest Coverage	-144.29x	-1.79x	-10.47x	-21.64x	-7.47x	-2.55x	-25.64x	-26.14x	-23.91x	-21.30x
FCF Conversion	0.16x	0.21x	0.06x	0.22x	0.04x	0.61x	0.51x	0.64x	0.80x	0.63x
Revenue Growth	9.89%	-44.58%	13.18%	17.82%	300.07%	-82.03%	-12.25%	-61.65%	1212.97%	454.67%

Revenue by Geography

	2024
Other	19.29K
Other Growth	-

Frequently Asked Questions

Growth & Financials

Worksport Ltd. (WKSP) reported $12.4M in revenue for fiscal year 2024.

Worksport Ltd. (WKSP) grew revenue by 454.7% over the past year. This is strong growth.

Worksport Ltd. (WKSP) reported a net loss of $16.6M for fiscal year 2024.

Dividend & Returns

Worksport Ltd. (WKSP) has a return on equity (ROE) of -90.8%. Negative ROE indicates the company is unprofitable.

Worksport Ltd. (WKSP) had negative free cash flow of $11.4M in fiscal year 2024, likely due to heavy capital investments.