Fundamental Analysis of NIKOLA CORP(NASDAQ:NKLA) stock

Fundamental Rating

NKLA gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 132 industry peers in the Machinery industry. Both the profitability and financial health of NKLA have multiple concerns. While showing a medium growth rate, NKLA is valued expensive at the moment.

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1. Profitability

1.1 Basic Checks

In the past year NKLA has reported negative net income.

NKLA had a negative operating cash flow in the past year.

In the past 5 years NKLA reported 4 times negative net income.

NKLA had a negative operating cash flow in each of the past 5 years.

1.2 Ratios

Looking at the Return On Assets, with a value of -82.01%, NKLA is doing worse than 92.31% of the companies in the same industry.

Looking at the Return On Equity, with a value of -161.17%, NKLA is doing worse than 90.00% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	-82.01%
ROE	-161.17%
ROIC	N/A

ROA(3y)-69.65%

ROA(5y)-48.86%

ROE(3y)-127.62%

ROE(5y)-84.18%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

The Profit Margin and Operating Margin and Gross Margin are not available for NKLA so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

NKLA does not have a ROIC to compare to the WACC, probably because it is not profitable.

The number of shares outstanding for NKLA has been increased compared to 1 year ago.

Compared to 5 years ago, NKLA has more shares outstanding

NKLA has a better debt/assets ratio than last year.

2.2 Solvency

NKLA has an Altman-Z score of -4.74. This is a bad value and indicates that NKLA is not financially healthy and even has some risk of bankruptcy.

NKLA has a Altman-Z score of -4.74. This is amonst the worse of the industry: NKLA underperforms 88.46% of its industry peers.

NKLA has a Debt/Equity ratio of 0.46. This is a healthy value indicating a solid balance between debt and equity.

NKLA has a Debt to Equity ratio (0.46) which is in line with its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.46
Debt/FCF	N/A
Altman-Z	-4.74

ROIC/WACCN/A

WACC8.1%

2.3 Liquidity

NKLA has a Current Ratio of 1.73. This is a normal value and indicates that NKLA is financially healthy and should not expect problems in meeting its short term obligations.

The Current ratio of NKLA (1.73) is worse than 64.62% of its industry peers.

A Quick Ratio of 1.50 indicates that NKLA should not have too much problems paying its short term obligations.

NKLA has a better Quick ratio (1.50) than 69.23% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	1.73
Quick Ratio	1.5

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

NKLA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 39.66%, which is quite impressive.

The Revenue for NKLA has decreased by -45.61% in the past year. This is quite bad

NKLA shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 610.32% yearly.

EPS 1Y (TTM)39.66%

EPS 3YN/A

EPS 5YN/A

EPS growth Q2Q65.38%

Revenue 1Y (TTM)-45.61%

Revenue growth 3Y610.32%

Revenue growth 5YN/A

Revenue growth Q2Q-32.56%

3.2 Future

Based on estimates for the next years, NKLA will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.54% on average per year.

The Revenue is expected to grow by 158.27% on average over the next years. This is a very strong growth

EPS Next Y52.67%

EPS Next 2Y27.95%

EPS Next 3Y22.54%

EPS Next 5Y15.54%

Revenue Next Year344.38%

Revenue Next 2Y256.48%

Revenue Next 3Y228.78%

Revenue Next 5Y158.27%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for NKLA. In the last year negative earnings were reported.

Also next year NKLA is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

A more expensive valuation may be justified as NKLA's earnings are expected to grow with 22.54% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y27.95%

EPS Next 3Y22.54%

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5. Dividend

5.1 Amount

NKLA does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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NIKOLA CORP

NASDAQ:NKLA (5/17/2024, 7:16:11 PM)

After market: 0.5423 +0.01 (+1.38%)

0.5349

-0.01 (-2.67%)

Chartmill FA Rating

GICS SectorIndustrials

GICS IndustryGroupCapital Goods

GICS IndustryMachinery

Earnings (Last)

Earnings (Next)

Inst Owners

Inst Owner Change

Ins Owners

Ins Owner Change

Market Cap725.42M

Analysts

Price Target

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Dividend Growth(5Y)

Div Incr Years

Div Non Decr Years

Ex-Date

Surprises & Revisions

EPS beat(2)

Avg EPS beat(2)

Min EPS beat(2)

Max EPS beat(2)

EPS beat(4)

Avg EPS beat(4)

Min EPS beat(4)

Max EPS beat(4)

EPS beat(8)

Avg EPS beat(8)

EPS beat(12)

Avg EPS beat(12)

EPS beat(16)

Avg EPS beat(16)

Revenue beat(2)

Avg Revenue beat(2)

Min Revenue beat(2)

Max Revenue beat(2)

Revenue beat(4)

Avg Revenue beat(4)

Min Revenue beat(4)

Max Revenue beat(4)

Revenue beat(8)

Avg Revenue beat(8)

Revenue beat(12)

Avg Revenue beat(12)

Revenue beat(16)

Avg Revenue beat(16)

PT rev (1m)

PT rev (3m)

EPS NQ rev (1m)

EPS NQ rev (3m)

EPS NY rev (1m)

EPS NY rev (3m)

Revenue NQ rev (1m)

Revenue NQ rev (3m)

Revenue NY rev (1m)

Revenue NY rev (3m)

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S
P/FCF
P/OCF
P/B
P/tB
EV/EBITDA

EPS(TTM)

EPS(NY)

Fwd EY

FCF(TTM)

FCFY

OCF(TTM)

OCFY

SpS

BVpS

TBVpS

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-82.01%
ROE	-161.17%
ROCE
ROIC
ROICexc
ROICexgc
OM	N/A
PM (TTM)	N/A
GM	N/A
FCFM

ROA(3y)

ROA(5y)

ROE(3y)

ROE(5y)

ROIC(3y)

ROIC(5y)

ROICexc(3y)

ROICexc(5y)

ROICexgc(3y)

ROICexgc(5y)

ROCE(3y)

ROCE(5y)

ROICexcg growth 3Y

ROICexcg growth 5Y

ROICexc growth 3Y

ROICexc growth 5Y

OM growth 3Y

OM growth 5Y

PM growth 3Y

PM growth 5Y

GM growth 3Y

GM growth 5Y

F-Score

Asset Turnover0.03

Health

		Industry Rank	Sector Rank
Debt/Equity	0.46
Debt/FCF
Debt/EBITDA
Cap/Depr
Cap/Sales
Interest Coverage
Cash Conversion
Profit Quality
Current Ratio	1.73
Quick Ratio	1.5
Altman-Z

F-Score

WACC

ROIC/WACC

Cap/Depr(3y)

Cap/Depr(5y)

Cap/Sales(3y)

Cap/Sales(5y)

Profit Quality(3y)

Profit Quality(5y)

Growth

EPS 1Y (TTM)39.66%

EPS 3YN/A

EPS 5Y

EPS growth Q2Q

EPS Next Y52.67%

EPS Next 2Y

EPS Next 3Y

EPS Next 5Y

Revenue 1Y (TTM)-45.61%

Revenue growth 3Y610.32%

Revenue growth 5Y

Revenue growth Q2Q

Revenue Next Year

Revenue Next 2Y

Revenue Next 3Y

Revenue Next 5Y

EBIT growth 1Y

EBIT growth 3Y

EBIT growth 5Y

EBIT Next Year

EBIT Next 3Y

EBIT Next 5Y

FCF growth 1Y

FCF growth 3Y

FCF growth 5Y

OCF growth 1Y

OCF growth 3Y

OCF growth 5Y

NIKOLA CORP (NKLA)

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

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