QuantumScape (QS) AI Stock Analysis

• Market Cap: $4.30B
• Dividend Yield: N/A
• Average Volume (3M): 15.43M
• 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): -0.17
• Shares Outstanding: 562,404,600
• 10 Day Avg. Volume: 16,761,432
• 30 Day Avg. Volume: 15,432,442
• PEG Ratio: 0.72
• Price to Book (P/B): 5.13
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -21.53
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -58.78
• Enterprise Value/Ebitda: -10.52
• 1Y Price Target: $10.13
• Price Target Upside: 47.81% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5
• EPS Forecast (FY): -0.68
• Revenue Forecast (FY): $3.83M

• Rating: 44 Neutral
• Price Target: $6.50 ▼(-5.11% Downside)
• Action: Reiterated Date: 02/12/26
• Date: Action: Reiterated 02/12/26

The score is held down primarily by pre-revenue financials with large ongoing losses and elevated free-cash-flow burn. Technicals also reflect weak momentum with the stock below major moving averages. Partially offsetting these, the latest earnings call highlighted meaningful execution milestones and a strong liquidity position, but guidance still points to substantial continuing losses.

Positive Factors

Balance sheet / Liquidity

QuantumScape’s substantial liquidity and very low leverage provide a durable runway to advance pilot production and validation. With ~ $971M in available liquidity and modest debt, the company can fund near-term CapEx and R&D without immediate capital markets pressure, reducing dilution risk while pursuing commercialization milestones.

Technology & pilot manufacturing progress

Integration of the COBRA process and shipment of QSE‑5 cells, together with the Eagle Line pilot inauguration, show progress from R&D to reproducible pilot manufacturing. These durable engineering and process milestones materially raise the odds of cell qualification and scaleable transfer to partners over the coming quarters.

Partnerships & early commercial validation

Broader OEM and supplier engagement (PowerCo/Volkswagen, additional OEMs, Murata, Corning) plus first customer billings validate industry interest and provide technical and commercial channels. These partnerships bolster credibility, ease industrialization, and create a tangible pathway to licensing or cell revenue over the medium term.

Negative Factors

High cash burn and funding dependence

Persistent negative operating and free cash flow indicates meaningful ongoing funding needs. With FCF substantially negative and worsening year-over-year, the company will remain dependent on external financing, partner support, or milestone payments to fund operations and scale manufacturing, a durable risk until commercial revenues ramp.

Pre-revenue with large operating losses

QuantumScape remains essentially pre‑revenue while absorbing large operating losses and negative gross profit. Sustained sizable losses constrain the company’s path to profitability, increase sensitivity to execution missteps, and lengthen the timeline where investor funding or partner economics are necessary to bridge to meaningful commercial income.

Dependence on partners and lumpy billings

QuantumScape’s capital‑light, partner-driven commercialization model reduces capital needs but transfers execution risk to OEMs and licensees. Lumpy, non‑GAAP customer billings and related‑party timing can obscure revenue visibility and tie commercialization timing to partner decisions, which can delay cash flows and royalty streams.

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

Pre-revenue with sustained, sizable losses (TTM EBIT -$472.6M; net loss -$435.1M) and heavy cash burn (TTM FCF -$278.8M, worsening vs 2024). Balance sheet is a mitigating strength with low leverage (~$71.0M debt vs $1.17B equity) and substantial liquidity capacity, but ongoing negative returns and funding dependence keep the score low.

Income Statement

QS continues to report no revenue across the historical periods provided, while losses remain very large. In TTM (Trailing-Twelve-Months), gross profit is negative (-$52.0M) and operating losses are significant (EBIT -$472.6M; net loss -$435.1M). Losses have not shown a clear sustained improvement versus prior years (net loss was -$477.9M in 2024 and -$445.1M in 2023), indicating ongoing heavy spend ahead of commercialization and limited near-term operating leverage.

Balance Sheet

The balance sheet is a relative bright spot: leverage is low, with total debt of $71.0M in TTM (Trailing-Twelve-Months) against $1.17B of equity (debt-to-equity ~0.06). Total assets are $1.31B, supporting liquidity and continued investment capacity. The key weakness is persistent negative returns on equity (about -0.40 in TTM), reflecting that shareholder capital is still being consumed by ongoing losses despite modest debt levels.

Cash Flow

Cash burn remains elevated. In TTM (Trailing-Twelve-Months), operating cash flow is -$242.5M and free cash flow is -$278.8M, with free cash flow worsening versus 2024 (growth of about -49.7%). A positive sign is that free cash flow is broadly in line with accounting losses (free cash flow is ~1.14x net loss in TTM), suggesting losses are not being materially masked by working-capital timing; however, the scale of ongoing negative cash flow still implies continued funding dependence over time.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-73.22M	-57.78M	-41.96M	-36.12M	-14.70M
EBITDA	-399.38M	-417.94M	-400.74M	-373.37M	-29.86M
Net Income	-435.05M	-477.86M	-445.14M	-411.91M	-45.97M
Balance Sheet
Total Assets	1.31B	1.32B	1.50B	1.48B	1.72B
Cash, Cash Equivalents and Short-Term Investments	970.81M	910.77M	1.07B	1.06B	1.45B
Total Debt	71.00M	93.54M	100.63M	105.42M	77.37M
Total Liabilities	139.18M	164.55M	161.80M	155.86M	107.06M
Stockholders Equity	1.17B	1.16B	1.34B	1.32B	1.61B
Cash Flow
Free Cash Flow	-278.75M	-336.69M	-324.54M	-376.87M	-255.09M
Operating Cash Flow	-242.47M	-274.56M	-240.03M	-218.02M	-127.91M
Investing Cash Flow	14.93M	128.87M	-152.53M	124.12M	-385.83M
Financing Cash Flow	312.81M	144.03M	300.21M	8.60M	736.56M

QuantumScape Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• 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 6.85 is below the 20-day moving average (MA) of 8.43, below the 50-day MA of 9.97, and below the 200-day MA of 10.01, indicating a bearish trend. The MACD of -0.93 indicates Positive momentum. The RSI at 27.91 is Positive, neither overbought nor oversold. The STOCH value of 5.48 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	$1.39B	29.77	19.14%	―	10.29%	-3.90%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ENVX	54 Neutral	$1.28B	-7.43	-68.95%	―	45.98%	44.14%
SES	54 Neutral	$620.62M	-6.43	-33.69%	―	―	-15.43%
INVZ	48 Neutral	$195.26M	-2.74	-71.46%	―	46.09%	46.01%
SLDP	45 Neutral	$785.52M	-6.73	-23.63%	―	25.24%	-12.96%
QS	44 Neutral	$4.30B	-9.46	-37.39%	―	―	15.04%

QuantumScape Corporate Events

QuantumScape Co-Founder Fritz Prinz Retires From Board

On February 4, 2026, QuantumScape Corporation announced that Prof. Dr. Fritz Prinz, a co-founder who has served on the board of directors since the company’s founding in 2010, retired from the board effective that same day. The company stated that his retirement was not due to any disagreement regarding QuantumScape’s operations, policies, or practices, indicating a routine leadership transition rather than a sign of internal conflict.

The most recent analyst rating on (QS) stock is a Sell with a $9.50 price target. To see the full list of analyst forecasts on QuantumScape stock, see the QS Stock Forecast page.

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.