One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
QuantumScape Corporation
QS · NMS · Consumer Cyclical · Auto Parts
Current price
$4.57
52-week range
$3.80 - $17.58
Market cap
$2.83B
Balance sheet
Healthy
-231.78x Concerning
Net cash $754.73M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
1 Risk
0 rewards · 1 risks
View details ↓What this company does
QuantumScape Corporation
QuantumScape is developing a new type of battery for electric cars that they believe will be safer and last longer than current batteries. They don't sell many batteries yet, so their money mostly comes from investors funding their research and development, which is important because it means they are still a long way from making a profit from selling their product.
How the company got here
QuantumScape was founded in 2010 by a team of engineers from Stanford University with a vision to create a better battery for electric vehicles (EVs). They recognized that existing lithium-ion batteries, while revolutionary, had limitations in terms of energy density (how much power they can store), charging speed, and safety. The company's journey has been marked by significant strategic partnerships, most notably with Volkswagen Group, which began investing in QuantumScape in 2012 and has since become a major shareholder. This backing has been crucial for funding their intensive research and development efforts. QuantumScape went public in 2020, raising substantial capital to accelerate its mission of developing and commercializing its solid-state battery technology.
What it actually does
QuantumScape is developing a new type of battery technology called solid-state lithium-metal batteries. Unlike the lithium-ion batteries found in most electronics and EVs today, which use a liquid or gel to move energy, QuantumScape's batteries use a solid material. This innovation aims to create batteries that can store more energy (higher energy density), charge much faster, and are safer because they eliminate the flammable liquid electrolytes found in current batteries. Think of it as upgrading from a regular car battery to a super-powered, faster-charging, and more reliable version for the electric age.
Solid-State Battery Technology
This is QuantumScape's core business. They are developing and aiming to commercialize solid-state batteries, which are designed to overcome the limitations of current lithium-ion batteries. These new batteries promise higher energy density, meaning they can store more power for longer range in EVs, and significantly faster charging times. They also offer improved safety due to the use of a solid electrolyte instead of a flammable liquid one. QuantumScape's technology is licensed to partners, rather than the company manufacturing the batteries itself, which is a capital-light strategy. Their first commercial product is the QSE-5 cell, and they are also developing the QS PowerBlock for data centers.
What management is betting on now
QuantumScape's management is focused on a strategic blueprint that involves demonstrating their solid-state battery technology in real-world applications, building a global ecosystem of partners, and continuing to innovate. They are shifting towards a capital-light licensing model, meaning they will license their technology to other companies rather than building large-scale manufacturing facilities themselves. This strategy allows them to focus on their core strength: battery technology development. Management is also exploring applications beyond electric vehicles, such as data centers and defense, to diversify revenue streams and accelerate commercialization.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$-69.82M
FY2025 Q1
$-66.58M
FY2025 Q2
$-70.15M
FY2025 Q3
$-73.59M
FY2025 Q4
$-68.43M
FY2026 Q1
$-69.49M
FY2026 Q2
$-61.37M
FY2026 Q3
$-59.51M
Revenue
—
Net income
$-84.48M
Diluted EPS
-0.14
Operating cash flow
$-55.06M
Free cash flow
$-59.51M
Fetching…
Sources
Revenue
—
Net income
$-98.24M
Diluted EPS
-0.16
Operating cash flow
$-56.75M
Free cash flow
$-61.37M
Fetching…
Sources
Revenue
—
Net income
$-100.80M
Diluted EPS
-0.16
Operating cash flow
$-59.51M
Free cash flow
$-69.49M
Fetching…
Sources
Revenue
—
Net income
$-100.11M
Diluted EPS
-0.17
Operating cash flow
$-56.15M
Free cash flow
$-68.43M
Fetching…
Sources
Revenue
—
Net income
$-105.82M
Diluted EPS
-0.18
Operating cash flow
$-63.73M
Free cash flow
$-73.59M
Fetching…
Sources
Revenue
—
Net income
$-114.70M
Diluted EPS
-0.20
Operating cash flow
$-61.84M
Free cash flow
$-70.15M
Fetching…
Sources
Revenue
—
Net income
$-114.42M
Diluted EPS
-0.21
Operating cash flow
$-60.75M
Free cash flow
$-66.58M
Fetching…
Sources
Revenue
—
Net income
$-114.66M
Diluted EPS
-0.22
Operating cash flow
$-58.66M
Free cash flow
$-69.82M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $4.57
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $754.7M - more cash than debt. Interest coverage -231.8x.
Net debt
$-754.73M
Interest coverage
-231.78x
QuantumScape Corporation's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
QS
BASELINE
QuantumScape Corporation
Total debt $65.05M Interest coverage -231.78x This is the baseline the peer rows are being compared against.
Total debt $7.43M Interest coverage -4,033.28x Neither company has much profit cushion over interest right now.
Total debt $7.14M Interest coverage -8.85x Neither company has much profit cushion over interest right now.
Total debt $6.38M Interest coverage -1,438.88x Neither company has much profit cushion over interest right now.
Total debt $541.72M Interest coverage -8.21x Neither company has much profit cushion over interest right now.
What you should know
The case for and against QS
0 Rewards
1 Risk
Rewards
Risks
-
Return on equity was -34.7% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-7.16x
P/B
2.86x
P/S
—
EV/EBITDA
-5.44x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
0.0%
Net margin
0.0%
ROE
-34.7%
ROA
-22.2%
Health
Liquidity and balance-sheet strength
Debt / equity
0.07x
Current ratio
16.06x
Quick ratio
15.81x
Total debt
$65.05M
Total cash
$819.78M
Growth
How the business has been compounding
Revenue TTM
$0.00
Revenue 5Y CAGR
—
EPS TTM
-0.63
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-227.47M
Free CF TTM
$-278.75M
FCF margin
—
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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