Worksport

WKSP

Auto - Parts · Consumer Cyclical

Price

$0.68

-0.04 (-4.92%)

pre-market:$0.69+2.03%

Market Cap

$10.3M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 13, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

−32.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 11.5M (2021) → 7.8M (2025)

Worksport Ltd. makes truck bed covers, called tonneau covers, for pickup trucks. These covers protect cargo in the truck bed and can also generate solar power through panels built into some models. The company sells to pickup truck owners in North America, competing in the automotive accessories market with its flagship TerraVis system, which combines a tonneau cover with solar panels and a portable battery pack.

Worksport earns money by selling its covers and energy products directly to consumers and through retail and distribution partners. The company is small, based in Canada with U.S. operations in New York, and is still in an early commercial stage. Its gross margin is positive at around 30%, but its operating losses are steep, meaning it spends far more than it earns right now. The main risk is whether the company can scale up sales fast enough to cover its costs before it runs out of cash.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+27.4% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+53.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$2M/ year

↓ Declining (-33% vs prior year)

9.6% of revenue

2.4x the sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

19.5%ownership

Insiders own a meaningful stake in the company

Cash Runway

~1 months

$1M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Strong grower

Worksport is growing revenue at 27% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

31.5%

Modest — 31.5% gross margin

Operating Margin

-73.0%

Losing money on operations — -73.0%

ROCE

-19.5%

Weak — -19.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+47.6%

Fast-growing sales (+47.6% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-125.0%

Burning cash (-125.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.03

Conservative — low debt load (0.03)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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