QuantumScape (QS)
NASDAQ:QS
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QuantumScape
(NASDAQ:QS)
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Rating:46Neutral
Price Target:
$6.00
▼(-3.38% Downside)
Action:ReiteratedDate:03/05/26
Overall score is held down primarily by weak financial performance (pre-revenue, large ongoing losses and heavy cash burn) and a bearish technical setup (price well below key moving averages with negative MACD). Offsetting factors include low leverage and strong liquidity plus constructive earnings-call milestones, but FY2026 guidance still points to continued sizeable losses, limiting the near-term outlook.
Positive Factors
Strong liquidity & low leverage
QuantumScape’s balance sheet shows low leverage and substantial liquidity, giving the company a durable runway to fund R&D, pilot lines and licensing efforts without immediate refinancing. This reduces near-term dilution risk and supports multi‑quarter execution on commercialization plans.
Negative Factors
Pre-revenue with large losses
Sustained, large GAAP losses reflect the company’s early stage and limited revenue traction; consuming capital while commercial revenue is nascent means extended reliance on external funding. Persistent negative returns on equity indicate shareholder capital is still being deployed to scale technology.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity & low leverage
QuantumScape’s balance sheet shows low leverage and substantial liquidity, giving the company a durable runway to fund R&D, pilot lines and licensing efforts without immediate refinancing. This reduces near-term dilution risk and supports multi‑quarter execution on commercialization plans.
Read all positive factors
QuantumScape (QS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.86B
Dividend YieldN/A
Average Volume (3M)10.07M
Price to Earnings (P/E)―
Beta (1Y)2.19
Revenue GrowthN/A
EPS Growth15.04%
CountryUS
Employees800
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.17
Shares Outstanding575,291,260
10 Day Avg. Volume7,630,865
30 Day Avg. Volume10,071,171
Financial Highlights & Ratios
PEG Ratio0.72
Price to Book (P/B)5.13
Price to Sales (P/S)0.00
P/FCF Ratio-21.53
Enterprise Value/Market Cap0.96
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-54.92
Enterprise Value/Ebitda-10.13
Forecast
1Y Price Target
$9.76Price Target Upside57.17% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)-0.68
Revenue Forecast (FY)$3.83M
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 an...
How the Company Makes Money
QuantumScape is primarily in a pre-commercial stage and, as a result, does not generate material recurring revenue from large-scale battery sales. When revenue is recorded, it has historically been associated with activities typical of a developme...
QuantumScape Earnings Call Summary
Earnings Call Date:Feb 11, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 22, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful technology and commercialization milestones (COBRA integration, QSE-5 shipments, Eagle Line inauguration), stronger partner engagement, the company’s first customer billings, and a nearly $971M liquidity position — all positive operational and strategic developments. At the same time, sizable GAAP losses, continued adjusted EBITDA losses (albeit improved ~10% y/y), lumpy/non-GAAP billings, and reliance on external partners for scale present ongoing financial and execution risks. Overall the tone is constructive and execution-focused, with management presenting measurable progress while acknowledging remaining commercialization and financial hurdles.Positive Updates
Technology Integration and Product Shipments
Integrated COBRA process into cell production baseline in June 2025 enabling gigawatt-hour-scale capability; COBRA-enabled QSE-5 cells shipped to Volkswagen Group and showcased in a real-world demo (Ducati V21L) at IAA Mobility in Munich.
Negative Updates
Continued GAAP Losses and High Operating Expenses
GAAP operating expenses in Q4 were $110.5 million and GAAP net loss for Q4 was $100.1 million; full year 2025 GAAP operating expenses were $472.6 million and GAAP net loss was $435.1 million, indicating substantial ongoing operating losses.
Read all updates
Q4-2025 Updates
Positive
Negative
Technology Integration and Product Shipments
Integrated COBRA process into cell production baseline in June 2025 enabling gigawatt-hour-scale capability; COBRA-enabled QSE-5 cells shipped to Volkswagen Group and showcased in a real-world demo (Ducati V21L) at IAA Mobility in Munich.
Read all positive updates
Company Guidance
QuantumScape’s financial guidance and disclosed metrics showed: Q4 GAAP operating expenses of $110,500,000 and Q4 GAAP net loss of $100,100,000 (FY2025 GAAP OpEx $472,600,000 and net loss $435,100,000); Q4 adjusted EBITDA loss $63,300,000 and FY2025 adjusted EBITDA loss $252,300,000 (about a 10% improvement from $285,000,000 in the prior year); customer billings for FY2025 of $19,500,000 (cash received $19,500,000, reported to equity due to related‑party accounting); year‑end liquidity $970,800,000; and forward guidance for FY2026 of adjusted EBITDA loss between $250,000,000 and $275,000,000 and CapEx of $40,000,000–$60,000,000 (Q4 CapEx $12,300,000; FY2025 CapEx $36,300,000). Management said the 2026 EBITDA outlook already reflects partner/equipment support, expects customer billings to increase versus 2025, and will continue to drive operational and capital efficiency while scaling the Eagle Line.QuantumScape Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
64
Positive
Cash Flow
28
Negative
| 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 | -358.25M | -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
Negative
6.21
Price Trends
7.33
Negative
9.45
Negative
10.40
Negative
Market Momentum
-0.33
Negative
41.04
Neutral
35.08
Neutral
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 6.21 is below the 20-day moving average (MA) of 6.60, below the 50-day MA of 7.33, and below the 200-day MA of 10.40, indicating a bearish trend. The MACD of -0.33 indicates Negative momentum. The RSI at 41.04 is Neutral, neither overbought nor oversold. The STOCH value of 35.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QS.
QuantumScape Risk Analysis
QuantumScape disclosed 54 risk factors in its most recent earnings report. QuantumScape reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
QuantumScape Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.23B | 26.95 | 19.69% | ― | 10.29% | -3.90% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $1.24B | -10.09 | -0.23% | ― | 45.98% | 44.14% | |
48 Neutral | $142.96M | -2.52 | -73.64% | ― | 46.09% | 46.01% | |
48 Neutral | $661.73M | -7.26 | -23.87% | ― | 25.24% | -12.96% | |
46 Neutral | $3.86B | -13.79 | -38.52% | ― | ― | 15.04% | |
43 Neutral | $359.29M | -8.16 | -30.37% | ― | ― | -15.43% |
* Consumer Cyclical Sector Average
QS
QuantumScape
6.30
2.25
55.56%
XPEL
XPEL
44.73
16.66
59.35%
INVZ
Innoviz Technologies
0.67
0.10
18.29%
ENVX
Enovix
5.73
-0.91
-13.70%
SES
SES AI Corporation Class A
0.98
0.42
75.00%
SLDP
Solid Power
3.00
1.96
188.46%
QuantumScape Corporate Events
Business Operations and StrategyExecutive/Board Changes
QuantumScape Adds Defense Veteran Ross Niebergall to Board
Positive
Mar 5, 2026
On March 4, 2026, QuantumScape appointed defense-sector veteran Ross Niebergall to its board of directors for a term running until the company’s next annual shareholder meeting, adding deep aerospace and defense RD and commercialization expe...
Executive/Board Changes
QuantumScape Co-Founder Fritz Prinz Retires From Board
Neutral
Feb 10, 2026
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 state...
Business Operations and StrategyExecutive/Board Changes
QuantumScape Adds Veteran Finance Executive to Board
Positive
Jan 30, 2026
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...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.