Worksport Ltd. Common Stock (WKSP)

FairStock Score: 49/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn consistent profits, generate cash, and trade at a sensible price. Worksport designs and distributes truck bed tonneau covers, with a solar-integrated option called SOLIS. The top line is moving: fiscal year 2025 revenue was $16.1 million versus $8.5 million in fiscal year 2024, and in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $5.2 million versus $4.1 million in fiscal Q2 2025, the quarter ended 2025-06-30. But the bottom line is ugly. Fiscal year 2025 net income was -$19.4 million, fiscal year 2024 was -$16.2 million, and fiscal Q2 2026 net income was -$4.0 million, a -75.82% margin. That is not a moat; it is a cash incinerator. Trailing free cash flow was -$22.8 million, a FairStock FCF yield of -388.9% against a $5.9 million market cap. The FairStock Altman Z-Score of -4.07 signals financial distress, and the company has lost money in each of the last four years. At the 2026-10-13 close of $0.38, the FairStock P/B is 0.23, which looks cheap against book value, but the FairStock ROE of -115.14% and ROCE of -49.61% show the assets are not producing returns. A FairStock Piotroski F-Score of 5/9 is mediocre. Low debt, D/E 0.29, and growing revenue are positives, but they are overwhelmed by ongoing losses. Without a credible path to positive cash flow, the apparent asset discount may be a value trap. I need evidence of durable profits before I could call this a sound investment.

In plain English: Worksport makes covers for pickup truck beds and a solar version. Sales are growing, but the company loses much more money than it makes, including a $4.0 million loss in the quarter ended June 30, 2026. At 38 cents a share, the price looks low compared with the accounting value of its assets, but heavy cash losses make it hard to call the stock a bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer