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
$4.91
52-week range
$4.76 - $19.07
Market cap
$3.02B
Balance sheet
Healthy
-231.78x Concerning
Net cash $791.88M. 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 working to create a new kind of battery for electric cars that could be safer, charge much faster, and hold more power for longer drives. The company is currently in a research and development phase, meaning it doesn't have a product to sell yet. Its work is funded by investors who are betting that its battery technology will be a major breakthrough for the electric vehicle industry.
How the company got here
QuantumScape was started in 2010 by a team from Stanford University to develop a new kind of battery for electric vehicles. A major turning point was in 2012 when they began working with Volkswagen, which became their largest shareholder with investments totaling $300 million by 2020. In 2020, the company went public on the New York Stock Exchange through a merger with a special purpose acquisition company (a shell company set up to buy another company), which gave it the funding to continue developing its technology. This move allowed them to raise the money needed to work on getting their batteries ready for mass production.
What it actually does
QuantumScape is working on creating a new type of battery for electric vehicles called a solid-state battery. Unlike the lithium-ion batteries in most electric cars today that have a liquid component, QuantumScape's design uses a solid material. This new technology is designed to allow electric cars to drive farther on a single charge, recharge much faster (in as little as 15 minutes), and be safer because the solid material is less likely to catch fire. The company is still in the development stage and has not yet started selling its batteries to the public.
Battery Technology Development
This is currently the company's only line of business, as it is focused on research and development and does not yet have a commercial product. QuantumScape's main focus is on perfecting its solid-state, lithium-metal battery technology. Instead of selling a physical product, the company's current activities are centered around proving its technology works and can be manufactured at a large scale. Automakers and other potential customers pay for joint development projects to test and validate the battery technology for their specific needs, but this is not yet generating significant revenue.
What management is betting on now
Management's main focus is on moving from the laboratory to mass production by partnering with large companies. They have a key partnership with Volkswagen's battery company, PowerCo, to bring their solid-state batteries to market. Instead of building all the factories themselves, which is very expensive, their strategy is to license their technology to partners who will then manufacture the batteries. They are also working to show that their batteries can be used in other areas beyond cars, such as consumer electronics, drones, and aerospace.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-110.73M
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
Revenue
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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
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Sources
Revenue
—
Net income
$-114.70M
Diluted EPS
-0.20
Operating cash flow
$-61.84M
Free cash flow
$-70.15M
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Sources
Revenue
—
Net income
$-114.42M
Diluted EPS
-0.21
Operating cash flow
$-60.75M
Free cash flow
$-66.58M
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Sources
Revenue
—
Net income
$-114.66M
Diluted EPS
-0.22
Operating cash flow
$-58.66M
Free cash flow
$-69.82M
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Sources
Revenue
—
Net income
$-119.57M
Diluted EPS
-0.23
Operating cash flow
$-92.80M
Free cash flow
$-110.73M
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Sources
Is it cheap or expensive?
Fair value — vs current price $4.91
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $791.9M - more cash than debt. Interest coverage -231.8x.
Net debt
$-791.88M
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 $67.12M Interest coverage -231.78x This is the baseline the peer rows are being compared against.
Total debt $7.71M 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 -39.1% 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
-7.21x
P/B
2.90x
P/S
—
EV/EBITDA
-5.65x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
0.0%
Net margin
0.0%
ROE
-39.1%
ROA
-24.3%
Health
Liquidity and balance-sheet strength
Debt / equity
0.06x
Current ratio
18.42x
Quick ratio
18.21x
Total debt
$67.12M
Total cash
$859.00M
Growth
How the business has been compounding
Revenue TTM
$0.00
Revenue 5Y CAGR
—
EPS TTM
-0.67
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-236.14M
Free CF TTM
$-278.75M
FCF margin
—
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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