QuantumScape (QS) AI Stock Analysis

• Market Cap: $5.22B
• Dividend Yield: N/A
• Average Volume (3M): 12.12M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.22
• Revenue Growth: N/A
• EPS Growth: 15.04%
• Country: US
• Employees: 800
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): -0.18
• Shares Outstanding: 562,404,600
• 10 Day Avg. Volume: 14,896,289
• 30 Day Avg. Volume: 12,120,745
• PEG Ratio: 2.65
• Price to Book (P/B): 2.28
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.83
• Enterprise Value/Market Cap: 0.99
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -73.97
• Enterprise Value/Ebitda: -13.71
• 1Y Price Target: $11.50
• Price Target Upside: 32.49% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: $10.00 ▲(15.21% Upside)

The score is held down primarily by pre-revenue fundamentals with large ongoing losses and negative free cash flow, plus weak technical momentum (below key moving averages with negative MACD). These are partly offset by a comparatively strong balance sheet/liquidity position and earnings-call updates indicating runway through the end of the decade and early commercialization signals via customer billings.

Positive Factors

Technological Advancements

The transition to the Cobra process represents a significant technological advancement, allowing for higher-volume production. This enhances QuantumScape's ability to scale its operations and meet future demand, strengthening its competitive position in the solid-state battery market.

Strategic Partnerships

The strategic partnership with Volkswagen's PowerCo is crucial for industrializing QuantumScape's technology at scale. This collaboration provides access to resources and expertise, facilitating the commercialization of their battery technology and enhancing market entry prospects.

Financial Position

QuantumScape's strong liquidity position provides a substantial cash runway, supporting ongoing R&D and operational activities. This financial stability allows the company to focus on long-term strategic goals without immediate pressure for external funding.

Negative Factors

Lack of Revenue

The absence of revenue generation is a significant concern, as it indicates that QuantumScape has yet to commercialize its technology. This poses a risk to financial sustainability and investor confidence, as the company remains reliant on external funding.

High Operating Expenses

High operating expenses highlight the cost-intensive nature of QuantumScape's operations. This financial burden can strain resources and impact profitability, necessitating efficient cost management to ensure long-term viability.

Uncertain Customer Engagement

The lack of confirmed licensing agreements with OEMs underscores uncertainty in customer engagement. This uncertainty can delay revenue generation and market penetration, impacting QuantumScape's ability to establish a foothold in the automotive battery market.

QuantumScape Business Overview & Revenue Model

Company Description

QuantumScape Corporation, together with its subsidiaries, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications in the United States. The company was founded in 2010 and is headquartered in San Jose, California.

How the Company Makes Money

QuantumScape makes money through the development and future commercialization of its solid-state battery technology. The company aims to license its technology and establish partnerships with major automotive manufacturers to integrate its batteries into electric vehicles. Revenue is expected to be generated through these strategic partnerships and potential joint ventures. Additionally, QuantumScape may also explore direct sales of its battery products once they are commercially viable. Significant partnerships, such as the one with Volkswagen Group, play a crucial role in QuantumScape's business model by providing financial support and a pathway to market entry for their cutting-edge battery solutions.

QuantumScape Financial Statement Overview

Summary

Financials are dominated by pre-revenue operations and sustained large losses (TTM EBIT -$490.8M; net loss -$449.6M) and continued cash burn (TTM operating cash flow -$245.0M; free cash flow -$280.1M). Offsetting this, the balance sheet provides meaningful runway with low leverage (~$73.0M total debt; debt-to-equity ~0.06) and sizable equity (~$1.22B).

Income Statement

QS remains pre-revenue (revenue is 0 across all periods provided), with persistent and sizable operating losses. In TTM (Trailing-Twelve-Months), gross profit is negative (-$70.0M) and losses remain elevated (EBIT -$490.8M; net loss -$449.6M), showing limited signs of an earnings inflection. The one relative positive is that net losses improved materially versus 2020’s very large loss, but losses have been consistently large from 2021–TTM, indicating profitability is still not in sight.

Balance Sheet

The balance sheet is a key support: leverage is low and improving, with total debt down to ~$73.0M in TTM (Trailing-Twelve-Months) and a low debt-to-equity level (~0.06). Equity remains sizable (~$1.22B TTM), providing financial flexibility. The main weakness is continued value erosion risk from ongoing losses (return on equity is strongly negative, ~-0.40 TTM), which can pressure equity over time if cash burn persists.

Cash Flow

Cash generation remains weak, with continued cash burn: operating cash flow is negative in every year shown and is -$245.0M in TTM (Trailing-Twelve-Months), while free cash flow is also negative at -$280.1M. Free cash flow deteriorated versus the prior annual period (2024 free cash flow of -$336.7M vs TTM -$280.1M is an improvement, but the provided free cash flow growth figure for TTM is sharply negative), highlighting volatility in burn trends. A modest positive is that free cash flow is broadly in line with (and slightly better than) net loss in TTM, but the company is still reliant on external funding until revenues ramp.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-69.96M	-57.78M	-41.96M	-36.12M	-14.70M	-8.08M
EBITDA	-377.56M	-417.94M	-400.74M	-373.37M	-29.86M	-1.65B
Net Income	-449.61M	-477.86M	-445.14M	-411.91M	-45.97M	-1.68B
Balance Sheet
Total Assets	1.34B	1.32B	1.50B	1.48B	1.72B	1.07B
Cash, Cash Equivalents and Short-Term Investments	1.00B	910.77M	1.07B	1.06B	1.45B	997.55M
Total Debt	73.00M	93.54M	100.63M	105.42M	77.37M	12.46M
Total Liabilities	127.48M	164.55M	161.80M	155.86M	107.06M	713.29M
Stockholders Equity	1.22B	1.16B	1.34B	1.32B	1.61B	351.77M
Cash Flow
Free Cash Flow	-280.14M	-336.69M	-324.54M	-376.87M	-255.09M	-85.36M
Operating Cash Flow	-244.98M	-274.56M	-240.03M	-218.02M	-127.91M	-61.26M
Investing Cash Flow	-126.16M	128.87M	-152.53M	124.12M	-385.83M	-802.65M
Financing Cash Flow	419.42M	144.03M	300.21M	8.60M	736.56M	953.72M

QuantumScape Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.68
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QS, the sentiment is Negative. The current price of 8.68 is below the 20-day moving average (MA) of 10.27, below the 50-day MA of 11.09, and below the 200-day MA of 9.75, indicating a bearish trend. The MACD of -0.62 indicates Positive momentum. The RSI at 32.07 is Neutral, neither overbought nor oversold. The STOCH value of 5.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QS.

QuantumScape Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
XPEL	78 Outperform	$1.47B	31.62	19.14%	―	10.29%	-3.90%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ENVX	54 Neutral	$1.48B	-8.06	-68.95%	―	45.98%	44.14%
SES	54 Neutral	$726.49M	-7.81	-33.69%	―	―	-15.43%
QS	48 Neutral	$5.22B	-10.93	-38.65%	―	―	15.04%
INVZ	48 Neutral	$198.87M	-2.77	-71.46%	―	46.09%	46.01%
SLDP	45 Neutral	$817.58M	-8.26	-23.63%	―	25.24%	-12.96%

QuantumScape Corporate Events

QuantumScape Adds Veteran Finance Executive to Board

On January 29, 2026, QuantumScape Corporation appointed veteran finance and technology executive Geoffrey Ribar to its Board of Directors for a term expiring at the company’s next annual meeting of stockholders, with no committee assignments made at this time. Ribar, who brings more than four decades of experience across the semiconductor and broader technology sectors and currently serves on the boards of MACOM Technology Solutions, Everspin Technologies and Acacia Research, will receive the company’s standard non-employee director compensation package, including $80,000 in annual cash compensation and restricted stock unit grants that vest over time subject to his continued service, underscoring QuantumScape’s move to deepen its board’s financial and technology expertise as it advances its business objectives; the company noted there are no special arrangements, family relationships or related-party transactions connected to his appointment beyond its standard indemnification agreement.

The most recent analyst rating on (QS) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on QuantumScape stock, see the QS Stock Forecast page.

QuantumScape to Transfer Stock Listing to Nasdaq

On December 10, 2025, QuantumScape Corporation announced its decision to transfer the listing of its Class A Common Stock from the New York Stock Exchange to The Nasdaq Stock Market, effective after the market close on December 22, 2025. Trading on Nasdaq is expected to begin on December 23, 2025, under the ticker symbol ‘QS.’ This strategic move aligns QuantumScape with Nasdaq’s community of innovative companies and is anticipated to enhance shareholder value without disrupting trading activities.

The most recent analyst rating on (QS) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on QuantumScape stock, see the QS Stock Forecast page.

QuantumScape Enters Sublease Agreement with Momentus Inc.

On December 3, 2025, QuantumScape Battery, Inc. entered into a Sublease Agreement with Momentus Inc. for a building in San Jose, California, reducing its operational footprint in line with its technology licensing focus. The sublease, which runs until September 30, 2032, is expected to generate approximately $11.5 million in base rent for QuantumScape, with Momentus Inc. responsible for additional expenses and subject to the Master Landlord’s consent.

The most recent analyst rating on (QS) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on QuantumScape stock, see the QS Stock Forecast page.