Want to see QS full AI Analyst Report?
Top Page
QuantumScape
(NASDAQ:QS)
Select Model
Select Model
Rating:47Neutral
Price Target:
$5.00
▲(2.46% Upside)
Action:Reiterated
Date:07/24/26
The score is held down primarily by very weak financial performance (no revenue, large ongoing losses, and significant negative free cash flow) and a bearish technical trend (below major moving averages with negative MACD). The main support comes from the earnings call, which highlighted improving execution and commercialization indicators (billings growth, >90% pilot-line yields, strong liquidity), but ongoing EBITDA-loss guidance and long commercialization timelines keep the overall risk profile elevated.
Positive Factors
Strong liquidity and low leverage
Substantial cash on hand and lowered near-term CapEx provide a multi-quarter runway to fund R&D, pilot-line scale efforts and customer sampling without immediate dilution. Combined with low reported leverage, this improves financial flexibility while commercial risks are resolved.
Negative Factors
No GAAP revenue and persistent large losses
The absence of GAAP revenue and sustained large operating losses mean the business has not yet converted technical progress into commercial earnings. This structural gap requires continued external funding and delays the path to self-sustaining margins and returns on invested capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity and low leverage
Substantial cash on hand and lowered near-term CapEx provide a multi-quarter runway to fund R&D, pilot-line scale efforts and customer sampling without immediate dilution. Combined with low reported leverage, this improves financial flexibility while commercial risks are resolved.
Read all positive factors
QuantumScape (QS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.23B
Dividend YieldN/A
Average Volume (3M)25.78M
Price to Earnings (P/E)―
Beta (1Y)2.31
Revenue GrowthN/A
EPS Growth22.69%
CountryUS
Employees700
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.67
Shares Outstanding587,219,200
10 Day Avg. Volume30,081,984
30 Day Avg. Volume25,778,788
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 Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$8.00Price Target Upside63.93% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)-0.66
Revenue Forecast (FY)$55.96K
QuantumScape Business Overview & Revenue Model
Company Description
QuantumScape Corporation, along with its affiliated entities, specializes in the advancement and market launch of innovative solid-state lithium-metal batteries. These cutting-edge power solutions are primarily engineered for electric vehicles (EV...
How the Company Makes Money
null...
QuantumScape Earnings Call Summary
Earnings Call Date:Jul 22, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call presented multiple meaningful commercial and technical progress points — new OEM partnerships (including Honda), Eagle line productivity improvements, safety validation at larger scale, increased customer billings, and a strong liquidity position. Those positives are tempered by sizeable GAAP losses and adjusted EBITDA burn, reductions in the potential VW/PowerCo payment pool (though described as net neutral), and remaining commercialization and scale-up risks that keep significant revenue realization and volume production in future years. Overall, the company appears to be making solid operational and technology progress while still managing the financial and execution risks inherent to scaling a first-of-a-kind battery technology.Positive Updates
Strategic OEM Partnerships Expanded (Honda and existing top OEMs)
Announced a multiyear partnership with Honda and stated engagement with 4 of the top 10 global automakers (including Volkswagen/PowerCo and additional OEMs). Also reported shipping cells to an additional automotive OEM customer, strengthening commercialization pathways.
Negative Updates
Continued Operating Losses and Adjusted EBITDA Burn
GAAP operating expenses for Q2 were $106.1 million and GAAP net loss was $98.2 million. Adjusted EBITDA loss was $64.2 million in Q2 and full-year adjusted EBITDA loss guidance was reiterated at $250–$275 million, indicating substantial ongoing cash burn.
Read all updates
Q2-2026 Updates
Positive
Negative
Strategic OEM Partnerships Expanded (Honda and existing top OEMs)
Announced a multiyear partnership with Honda and stated engagement with 4 of the top 10 global automakers (including Volkswagen/PowerCo and additional OEMs). Also reported shipping cells to an additional automotive OEM customer, strengthening commercialization pathways.
Read all positive updates
Company Guidance
QuantumScape reiterated full‑year 2026 adjusted EBITDA loss guidance of $250–$275 million and trimmed CapEx guidance to $27–$37 million (Q2 CapEx $4.6M), while reporting Q2 GAAP operating expenses of $106.1M, a Q2 GAAP net loss of $98.2M and a Q2 adjusted EBITDA loss of $64.2M; customer billings were $10.8M in Q2 and $21.8M through Q2 (exceeding FY2025 billings of $19.5M), liquidity at quarter end was $859M, Eagle pilot‑line core yields are running above 90% with a plan to double cell output in H2 2026, the PowerCo agreement’s total possible payments were revised from ~ $131M to ~ $75M with a projected net‑neutral cash impact (the $130M prepay remains milestone‑based), and large‑scale safety testing showed thermal stability to 300°C (vs. ~200°C for conventional Li‑ion).QuantumScape Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -57.71M | -73.22M | -57.78M | -41.96M | -36.12M | -14.70M |
| EBITDA | -353.32M | -358.25M | -417.94M | -400.74M | -373.37M | -29.86M |
| Net Income | -404.97M | -435.05M | -477.86M | -445.14M | -411.91M | -45.97M |
Balance Sheet | ||||||
| Total Assets | 1.17B | 1.31B | 1.32B | 1.50B | 1.48B | 1.72B |
| Cash, Cash Equivalents and Short-Term Investments | 859.00M | 970.81M | 910.77M | 1.07B | 1.06B | 1.45B |
| Total Debt | 67.12M | 71.00M | 93.54M | 100.63M | 105.42M | 77.37M |
| Total Liabilities | 120.77M | 139.18M | 164.55M | 161.80M | 155.86M | 107.06M |
| Stockholders Equity | 1.05B | 1.17B | 1.16B | 1.34B | 1.32B | 1.61B |
Cash Flow | ||||||
| Free Cash Flow | -272.88M | -278.75M | -336.69M | -324.54M | -376.87M | -255.09M |
| Operating Cash Flow | -236.14M | -242.47M | -274.56M | -240.03M | -218.02M | -127.91M |
| Investing Cash Flow | -117.96M | 14.93M | 128.87M | -152.53M | 124.12M | -385.83M |
| Financing Cash Flow | 310.13M | 312.81M | 144.03M | 300.21M | 8.60M | 736.56M |
QuantumScape Technical Analysis
Negative
4.88
Price Trends
6.99
Negative
7.03
Negative
9.13
Negative
Market Momentum
-0.48
Negative
44.63
Neutral
55.24
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 4.88 is below the 20-day moving average (MA) of 5.78, below the 50-day MA of 6.99, and below the 200-day MA of 9.13, indicating a bearish trend. The MACD of -0.48 indicates Negative momentum. The RSI at 44.63 is Neutral, neither overbought nor oversold. The STOCH value of 55.24 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.22B | 23.11 | 19.39% | ― | 12.82% | 11.76% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
49 Neutral | $892.25M | -4.99 | -67.92% | ― | 49.88% | 27.54% | |
48 Neutral | $463.47M | -4.20 | -21.56% | ― | -6.92% | 4.50% | |
47 Neutral | $3.23B | -7.79 | -35.66% | ― | ― | 22.69% | |
46 Neutral | $123.57M | -1.11 | -101.64% | ― | 29.57% | 13.83% | |
46 Neutral | $203.25M | -2.47 | -32.48% | ― | 179.82% | 26.84% |
* Consumer Cyclical Sector Average
QS
QuantumScape
5.69
-2.59
-31.28%
XPEL
XPEL
45.91
11.39
33.00%
INVZ
Innoviz Technologies
0.42
-1.09
-72.38%
ENVX
Enovix
4.40
-6.83
-60.82%
SES
SES AI Corporation Class A
0.56
-0.49
-46.95%
SLDP
Solid Power
2.30
-1.13
-32.94%
QuantumScape Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
QuantumScape Restructures PowerCo Collaboration with New Milestones
Neutral
Jul 22, 2026
On July 16, 2026, QuantumScape Battery, Inc. amended its existing collaboration agreement with Volkswagen-owned PowerCo SE, restructuring their joint program for developing, validating, demonstrating and initially commercializing battery cells bas...
Executive/Board ChangesShareholder Meetings
QuantumScape Stockholders Approve Proposals at 2026 Annual Meeting
Positive
Jun 5, 2026
QuantumScape held its 2026 Annual Meeting of Stockholders on June 3, 2026, with holders of Class A and Class B common stock representing 76.8% of the company’s voting power present, thereby constituting a quorum. Stockholders voted as a sing...
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.