EVgo (EVGO) AI Stock Analysis

• Market Cap: $1.09B
• Dividend Yield: N/A
• Average Volume (3M): 4.73M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.38
• Revenue Growth: 45.15%
• EPS Growth: -2.91%
• Country: US
• Employees: 329
• Sector: Consumer Cyclical
• Sector Strength: 60
• Industry: Specialty Retail
• EPS (TTM): -0.09
• Shares Outstanding: 134,168,230
• 10 Day Avg. Volume: 5,398,922
• 30 Day Avg. Volume: 4,727,836
• PEG Ratio: -0.11
• Price to Book (P/B): 46.86
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -22.51
• Enterprise Value/Market Cap: 0.37
• Enterprise Value/Revenue: 0.41
• Enterprise Value/Gross Profit: 12.66
• Enterprise Value/Ebitda: -1.43
• 1Y Price Target: $5.67
• Price Target Upside: 60.17% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 47 Neutral
• Price Target: $3.50 ▼(-1.13%Downside)

The overall stock score is driven by significant financial challenges and a challenging valuation scenario. While there are positive signs from the earnings call and corporate events, these are not enough to offset the fundamental financial weaknesses. Technical analysis indicates mixed signals, further contributing to a cautious outlook.

Positive Factors

Financial Performance

EVGO realized capital offsets leading to a lower-than-expected cash burn of $25.2MM, which was below both the model and Street expectations.

Market Position

EVgo is well positioned to benefit from relatively robust growth in EV penetration, in part due to its strong partnerships with auto OEMs, retail chains, and ridesharing fleets.

Partnerships and Collaborations

The company's partnerships with OEMs, site hosts, and fleet operators, and low-cost financing should enable strong earnings growth.

Negative Factors

Competition

Increased competition leads to lower utilization.

Policy and Regulation

An uncertain EV policy environment and strong competition, particularly from OEMs such as Tesla, are key risks to the outlook.

Revenue Performance

Charging revenue of $43.1MM fell 10% below the model and Street's expectations.

EVgo Business Overview & Revenue Model

Company Description

EVgo, Inc. owns and operates a direct current fast charging network in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services. It also provides ancillary services, such as customization of digital applications, charging data integration, loyalty programs, access to chargers behind parking lot, or garage, pay gates and pilots microtargeted advertising, and charging reservations; and maintenance and development and project management services through eXtendTM, including electric vehicle supply equipment installation, networking, and operations. The company was incorporated in 2010 and is based in Los Angeles, California.

How the Company Makes Money

EVgo generates revenue primarily through the sale of electricity to electric vehicle owners who use its charging stations. The company charges customers based on the amount of electricity consumed during charging sessions or the time spent charging. Additionally, EVgo earns revenue from network membership fees, where customers pay a subscription for discounted rates or other benefits. Partnerships with automotive manufacturers and other businesses also contribute to its revenue streams, as these collaborations often involve joint initiatives to expand charging infrastructure, co-marketing efforts, or the integration of EVgo services into their offerings. Furthermore, EVgo may receive financial incentives or support from government programs aimed at promoting clean energy and transportation solutions.

EVgo Financial Statement Overview

Summary

EVgo is experiencing growth in revenue but faces significant financial challenges, including negative profitability margins, negative equity, and negative cash flows. These factors suggest the company is in a precarious financial position, with substantial risks related to its operational and financial stability.

Income Statement

The company has shown a positive revenue growth trend, with TTM revenue of $276.95 million, up from $256.83 million in the previous year. However, the gross profit margin is low at 11.49% TTM, and the company continues to operate at a net loss, with a TTM net profit margin of -39.74%. EBIT and EBITDA margins are also negative, indicating ongoing operational challenges.

Balance Sheet

The balance sheet reveals a concerning financial structure with negative stockholders' equity of $36.77 million TTM, indicating liabilities exceed assets. The debt-to-equity ratio is not meaningful due to negative equity, and the equity ratio is also negative. These factors suggest financial instability and increased risk.

Cash Flow

The cash flow analysis shows a negative free cash flow of $92.13 million TTM, with a negative free cash flow to net income ratio, indicating cash outflows exceed earnings. Operating cash flow is also negative, reflecting challenges in generating cash from core operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	276.95M	256.82M	160.95M	54.59M	22.21M	13.05M
Gross Profit	31.85M	29.37M	9.71M	-5.65M	-6.83M	-13.00M
EBITDA	-67.27M	-83.00M	-83.46M	-70.28M	-31.93M	-34.85M
Net Income	-110.03M	-131.27M	-42.43M	-106.24M	-8.44M	-57.29M
Balance Sheet
Total Assets	855.98M	803.76M	806.61M	729.72M	746.32M	182.14M
Cash, Cash Equivalents and Short-Term Investments	150.01M	117.27M	209.15M	246.19M	484.88M	7.91M
Total Debt	168.55M	90.37M	68.00M	50.65M	0.00	39.16M
Total Liabilities	433.11M	360.03M	266.24M	212.60M	158.40M	92.65M
Stockholders Equity	-36.77M	-256.11M	-160.59M	-358.10M	-1.36B	89.49M
Cash Flow
Free Cash Flow	-92.13M	-102.04M	-195.95M	-259.05M	-94.61M	-39.42M
Operating Cash Flow	-3.42M	-7.26M	-37.05M	-58.79M	-29.60M	-20.08M
Investing Cash Flow	-88.42M	-94.47M	-143.31M	-199.71M	-87.77M	-19.34M
Financing Cash Flow	86.89M	13.09M	143.02M	19.81M	594.63M	47.08M

EVgo Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.54
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EVGO, the sentiment is Negative. The current price of 3.54 is below the 20-day moving average (MA) of 3.99, below the 50-day MA of 3.69, and below the 200-day MA of 4.31, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 41.04 is Neutral, neither overbought nor oversold. The STOCH value of 8.16 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EVGO.

EVgo Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$16.85B	11.50	-7.38%	2.96%	1.59%	-23.36%
ONEW	59 Neutral	$244.70M	―	-1.88%	―	-6.22%	91.93%
LUCK	57 Neutral	$1.37B	―	-108.04%	2.24%	6.65%	-111.16%
CHPT	51 Neutral	$330.17M	―	-135.29%	―	-15.71%	47.94%
EVGO	47 Neutral	$1.09B	―	19.14%	―	45.15%	-2.91%
HYLN	47 Neutral	$252.34M	―	-21.13%	―	451.93%	49.23%
LAZR	45 Neutral	$150.16M	―	146.24%	―	-3.84%	67.67%

EVgo Corporate Events

EVgo Stockholders Approve Incentive Plan Amendment

On April 3, 2025, EVgo Inc.’s board of directors approved an amendment to the company’s 2021 Long Term Incentive Plan to reserve an additional 25 million shares of Class A common stock, pending stockholder approval. At the Annual Meeting held on May 15, 2025, stockholders re-elected Class I directors, ratified KPMG LLP as the independent registered public accounting firm for the year ending December 31, 2025, and approved the amendment to the Long Term Incentive Plan, reflecting strong stockholder support for the company’s strategic initiatives.

The most recent analyst rating on (EVGO) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on EVgo stock, see the EVGO Stock Forecast page.