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QuantumScape (QS) Financials

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$7.73 +0.47 (+6.45%)
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Annual Income Statements for QuantumScape

Annual Income Statements for QuantumScape

This table shows QuantumScape's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -51 -1,682 -46 -412 -445 -478 -435
Consolidated Net Income / (Loss)		 -51 -1,682 -46 -412 -445 -478 -435
Net Income / (Loss) Continuing Operations		 -47 -1,682 -46 -412 -445 -478 -435
Total Pre-Tax Income 		-51 -1,682 -46 -412 -445 -478 -434
Total Operating Income		 -56 -81 -215 -421 -479 -525 -473
Total Gross Profit		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 56 81 215 421 479 525 473
Selling, General & Admin Expense		 9.87 16 64 123 131 142 97
Research & Development Expense		 46 65 151 297 348 383 376
Total Other Income / (Expense), net		 4.56 -1,601 169 8.72 34 47 39
Interest Expense		 0.09 21 1.42 2.40 2.38 2.22 2.04
Interest & Investment Income		 3.61 1.09 1.88 11 36 46 39
Other Income / (Expense), net		 1.04 -1,581 169 0.22 -0.14 3.20 2.51
Income Tax Expense		 - - - - 0.02 -0.27 1.54
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.02 -0.01 -0.01 0.01 0.07 -0.09 0.00
Basic Earnings per Share		 ($0.21) ($6.67) ($0.11) ($0.95) ($0.96) ($0.94) ($0.76)
Weighted Average Basic Shares Outstanding		 239.64M 252.14M 404.26M 432.97M 462.24M 508.10M 575.95M
Diluted Earnings per Share		 ($0.21) ($6.67) ($0.52) ($0.95) ($0.96) ($0.94) ($0.76)
Weighted Average Diluted Shares Outstanding		 239.64M 252.14M 409.51M 432.97M 462.24M 508.10M 575.95M
Weighted Average Basic & Diluted Shares Outstanding		 239.64M 252.14M 95.45M 439.97M 495.81M 546.91M 612.58M

Quarterly Income Statements for QuantumScape

This table shows QuantumScape's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -111 -113 -121 -123 -120 -115 -114 -115 -106 -100 -101
Consolidated Net Income / (Loss)		 -111 -113 -121 -123 -120 -115 -114 -115 -106 -100 -101
Net Income / (Loss) Continuing Operations		 -111 -113 -121 -123 -120 -115 -114 -115 -106 -100 -101
Total Pre-Tax Income 		-111 -113 -121 -123 -120 -115 -114 -115 -106 -99 -101
Total Operating Income		 -121 -125 -132 -134 -130 -129 -124 -124 -115 -110 -109
Total Gross Profit		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 121 125 132 134 130 129 124 124 115 110 109
Selling, General & Admin Expense		 33 28 48 37 33 24 28 22 23 24 25
Research & Development Expense		 88 96 84 98 97 104 96 101 92 87 85
Total Other Income / (Expense), net		 10 11 11 12 10 14 9.32 8.89 9.17 12 8.39
Interest Expense		 0.59 0.58 0.57 0.56 0.55 0.54 0.53 0.52 0.50 0.49 0.48
Interest & Investment Income		 10 12 12 12 11 11 9.77 8.94 10.00 9.93 8.89
Other Income / (Expense), net		 0.38 -0.53 -0.22 0.05 -0.34 3.97 0.08 0.46 -0.33 2.46 -0.03
Income Tax Expense		 - - - - - - 0.17 - - - 0.01
Basic Earnings per Share		 ($0.23) ($0.23) ($0.24) ($0.25) ($0.23) ($0.22) ($0.21) ($0.20) ($0.18) ($0.17) ($0.16)
Weighted Average Basic Shares Outstanding		 471.75M 462.24M 496.15M 501.23M 508.96M 508.10M 548.01M 561.70M 588.73M 575.95M 611.01M
Diluted Earnings per Share		 ($0.23) ($0.23) ($0.24) ($0.25) ($0.23) ($0.22) ($0.21) ($0.20) ($0.18) ($0.17) ($0.16)
Weighted Average Diluted Shares Outstanding		 471.75M 462.24M 496.15M 501.23M 508.96M 508.10M 548.01M 561.70M 588.73M 575.95M 611.01M
Weighted Average Basic & Diluted Shares Outstanding		 489.56M 495.81M 499.53M 506.11M 512.47M 546.91M 558.93M 566.02M 601.31M 612.58M 615.15M

Annual Cash Flow Statements for QuantumScape

This table details how cash moves in and out of QuantumScape's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -8.04 90 223 -85 -92 -1.66 85
Net Cash From Operating Activities		 -42 -61 -128 -218 -240 -275 -242
Net Cash From Continuing Operating Activities		 -42 -61 -128 -218 -240 -275 -242
Net Income / (Loss) Continuing Operations		 -51 -1,682 -46 -412 -445 -478 -435
Consolidated Net Income / (Loss)		 -51 -1,682 -46 -412 -445 -478 -435
Depreciation Expense		 4.70 6.85 11 28 42 58 66
Amortization Expense		 -0.81 2.43 15 12 -11 -21 -11
Non-Cash Adjustments To Reconcile Net Income		 6.82 1,620 -116 142 188 158 150
Changes in Operating Assets and Liabilities, net		 -1.18 -8.28 7.12 12 -14 8.80 -12
Net Cash From Investing Activities		 33 -803 -386 124 -153 129 15
Net Cash From Continuing Investing Activities		 33 -803 -386 124 -153 129 15
Purchase of Property, Plant & Equipment		 -9.85 -24 -127 -159 -85 -62 -36
Purchase of Investments		 -196 -892 -1,377 -570 -1,111 -1,295 -1,077
Sale of Property, Plant & Equipment		 - - - - 0.00 0.00 0.00
Sale and/or Maturity of Investments		 240 113 1,118 853 1,043 1,486 1,126
Other Investing Activities, net		 - - - - 0.11 0.12 2.39
Net Cash From Financing Activities		 0.39 954 737 8.60 300 144 313
Net Cash From Continuing Financing Activities		 0.39 954 737 8.60 300 144 313
Repurchase of Common Equity		 - - - - -12 -2.82 -4.49
Issuance of Preferred Equity		 0.00 176 0.00 0.00 0.00 0.00 0.00
Issuance of Common Equity		 0.00 100 563 0.00 300 131 269
Other Financing Activities, net		 0.39 0.60 175 8.60 12 15 49
Cash Interest Paid		 0.00 0.00 0.33 1.61 1.78 2.22 2.04

Quarterly Cash Flow Statements for QuantumScape

This table details how cash moves in and out of QuantumScape's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 19 -108 50 4.07 -22 -34 13 19 51 3.15 -85
Net Cash From Operating Activities		 -63 -57 -58 -65 -93 -59 -61 -62 -64 -56 -60
Net Cash From Continuing Operating Activities		 -63 -57 -58 -65 -93 -59 -61 -62 -64 -56 -60
Net Income / (Loss) Continuing Operations		 -111 -113 -121 -123 -120 -115 -114 -115 -106 -100 -101
Consolidated Net Income / (Loss)		 -111 -113 -121 -123 -120 -115 -114 -115 -106 -100 -101
Depreciation Expense		 12 11 12 13 15 18 18 19 14 14 15
Amortization Expense		 -3.39 -6.09 -6.17 -5.54 -5.43 -4.16 -3.00 -2.00 -2.84 -3.48 -1.94
Non-Cash Adjustments To Reconcile Net Income		 47 53 19 49 44 46 41 41 36 32 31
Changes in Operating Assets and Liabilities, net		 -6.91 -1.93 37 1.40 -26 -3.74 -2.34 -5.44 -5.33 1.44 -2.49
Net Cash From Investing Activities		 -209 -54 106 65 66 -109 62 77 -156 32 -26
Net Cash From Continuing Investing Activities		 -209 -54 106 65 66 -109 62 77 -156 32 -26
Purchase of Property, Plant & Equipment		 -18 -14 -14 -19 -18 -11 -5.84 -8.31 -9.86 -12 -9.98
Purchase of Investments		 -441 -380 -265 -425 -169 -436 -213 -171 -441 -252 -248
Sale and/or Maturity of Investments		 250 339 386 509 253 338 281 256 293 295 232
Other Investing Activities, net		 - - - - - - 0.00 - - - 0.17
Net Cash From Financing Activities		 290 3.14 1.24 3.91 4.99 134 11 3.48 271 27 -0.26
Net Cash From Continuing Financing Activities		 290 3.14 1.24 3.91 4.99 134 11 3.48 271 27 -0.26
Repurchase of Common Equity		 - - - - - - 0.00 - -4.16 -0.10 0.00
Issuance of Common Equity		 - -0.27 0.00 - - 129 1.01 0.03 268 - 0.00
Other Financing Activities, net		 1.65 3.41 1.24 3.91 4.99 5.36 10 3.68 7.18 27 -0.26
Cash Interest Paid		 0.59 0.58 0.57 0.56 0.55 0.54 0.53 0.52 0.50 0.49 0.48

Annual Balance Sheets for QuantumScape

This table presents QuantumScape's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 172 1,067 1,716 1,475 1,502 1,322 1,308
Total Current Assets		 131 1,009 1,463 1,072 1,084 922 982
Cash & Equivalents		 23 113 321 235 143 141 231
Short-Term Investments		 107 884 1,127 826 928 770 740
Prepaid Expenses		 1.26 12 16 11 13 12 11
Plant, Property, & Equipment, net		 25 44 166 296 313 300 251
Total Noncurrent Assets		 16 14 86 107 105 100 75
Noncurrent Note & Lease Receivables		 - 0.00 31 28 25 22 19
Other Noncurrent Operating Assets		 16 14 55 79 80 78 56
Total Liabilities & Shareholders' Equity		 172 1,067 1,716 1,475 1,502 1,322 1,308
Total Liabilities		 22 713 107 156 162 165 139
Total Current Liabilities		 7.22 12 31 47 57 65 62
Accounts Payable		 2.85 5.38 14 21 13 6.47 12
Accrued Expenses		 1.31 3.36 6.08 7.48 10 17 15
Current Employee Benefit Liabilities		 1.11 2.39 9.12 13 26 32 27
Other Current Liabilities		 1.95 1.22 1.23 4.85 7.91 8.76 8.24
Total Noncurrent Liabilities		 12 701 76 109 105 100 78
Other Noncurrent Operating Liabilities		 12 701 76 109 105 100 78
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 149 352 1,607 1,318 1,338 1,158 1,169
Total Preferred & Common Equity		 149 352 1,607 1,318 1,338 1,158 1,169
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 149 352 1,607 1,318 1,338 1,158 1,169
Common Stock		 444 2,329 3,635 3,771 4,222 4,516 4,962
Retained Earnings		 -296 -1,978 -2,024 -2,436 -2,881 -3,359 -3,794
Accumulated Other Comprehensive Income / (Loss)		 0.09 -0.03 -4.21 -18 -2.88 0.43 0.64

Quarterly Balance Sheets for QuantumScape

This table presents QuantumScape's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,543 1,411 1,347 1,566 1,464 1,397 1,272 1,259 1,168 1,343 1,229
Total Current Assets		 1,166 995 919 1,138 1,045 973 854 871 806 1,016 916
Cash & Equivalents		 298 241 233 251 192 196 175 154 172 226 145
Short-Term Investments		 857 742 677 877 817 741 666 707 625 778 760
Prepaid Expenses		 10 11 8.95 10 35 36 13 11 8.75 12 11
Plant, Property, & Equipment, net		 268 311 324 322 316 322 318 289 266 250 240
Total Noncurrent Assets		 109 105 105 106 103 102 101 98 96 77 73
Noncurrent Note & Lease Receivables		 29 27 27 26 24 24 23 22 21 20 24
Other Noncurrent Operating Assets		 81 78 78 80 79 78 78 76 75 57 49
Total Liabilities & Shareholders' Equity		 1,543 1,411 1,347 1,566 1,464 1,397 1,272 1,259 1,168 1,343 1,229
Total Liabilities		 155 152 156 153 204 215 161 150 144 127 119
Total Current Liabilities		 45 44 48 46 101 112 61 52 49 48 44
Accounts Payable		 17 17 12 9.62 12 15 9.64 7.79 6.48 6.45 7.36
Accrued Expenses		 15 10 8.21 10 72 67 20 22 18 14 15
Current Employee Benefit Liabilities		 9.06 9.27 20 19 8.74 22 23 13 15 20 12
Other Current Liabilities		 3.90 6.66 7.37 7.72 8.10 8.28 8.54 9.01 9.27 8.05 8.53
Total Noncurrent Liabilities		 110 109 109 106 104 102 101 98 94 79 76
Other Noncurrent Operating Liabilities		 110 109 109 106 104 102 101 98 94 79 76
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,386 1,257 1,189 1,411 1,258 1,180 1,111 1,109 1,025 1,216 1,110
Total Preferred & Common Equity		 1,386 1,257 1,189 1,411 1,258 1,180 1,111 1,109 1,025 1,216 1,110
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,386 1,257 1,189 1,411 1,258 1,180 1,111 1,109 1,025 1,216 1,110
Common Stock		 3,735 3,810 3,856 4,185 4,261 4,305 4,354 4,581 4,613 4,909 5,004
Retained Earnings		 -2,326 -2,540 -2,657 -2,767 -3,001 -3,124 -3,244 -3,473 -3,588 -3,693 -3,894
Accumulated Other Comprehensive Income / (Loss)		 -22 -12 -9.72 -6.32 -1.39 -0.52 0.94 0.10 -0.11 0.54 -0.38

Annual Metrics And Ratios for QuantumScape

This table displays calculated financial ratios and metrics derived from QuantumScape's official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -3,148.61% 98.80% -1,811.29% -17.90% -8.23% 14.35%
EBIT Growth		 0.00% -2,934.32% 97.21% -805.24% -13.98% -8.88% 9.94%
NOPAT Growth		 0.00% -45.15% -165.69% -95.39% -13.89% -9.64% 10.02%
Net Income Growth		 0.00% -3,180.70% 97.27% -795.87% -8.06% -7.38% 8.97%
EPS Growth		 0.00% -3,076.19% 92.20% -82.69% -1.05% 2.08% 19.15%
Operating Cash Flow Growth		 0.00% -46.80% -108.79% -70.45% -10.09% -14.39% 11.69%
Free Cash Flow Firm Growth		 0.00% 0.00% -256.63% 59.05% 11.36% 0.44% 18.37%
Invested Capital Growth		 0.00% -2,927.75% 124.98% 60.22% 4.48% -8.27% -19.80%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 98.43% -29.63% -4.15% 1.94% 3.03%
EBIT Q/Q Growth		 0.00% 0.00% 96.40% -27.48% -2.48% 0.09% 3.44%
NOPAT Q/Q Growth		 0.00% 0.00% 3.46% -27.60% -2.40% -0.78% 3.72%
Net Income Q/Q Growth		 0.00% 0.00% 96.34% -11.30% -0.97% -0.28% 3.24%
EPS Q/Q Growth		 0.00% 0.00% 90.42% -23.38% 2.04% 1.05% 6.17%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -15.81% -9.17% 2.22% -0.43% 1.02%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -11.80% 8.85% 1.00% 1.43%
Invested Capital Q/Q Growth		 0.00% 0.00% 42.14% 10.89% -5.68% -8.36% -6.53%
Profitability Metrics		 - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.36%
Interest Burden Percent		 93.58% 101.18% 99.00% 97.98% 92.88% 91.61% 92.22%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -34.08% -667.54% -4.69% -28.13% -33.47% -38.27% -37.39%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -593.91% -186.92% -131.60% -133.74% -126.63%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -33.70% -663.01% -4.68% -28.10% -33.42% -38.24% -37.39%
Return on Equity Simple (ROE_SIMPLE)		 -34.48% -478.09% -2.86% -31.26% -33.25% -41.28% 0.00%
Net Operating Profit after Tax (NOPAT)		 -39 -57 -151 -294 -335 -368 -331
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -9.55% -288.86% 8.56% -9.36% -10.29% -11.13% -11.08%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -22.34% -25.05% -31.75% -28.30%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -55 -1,662 -46 -420 -479 -522 -470
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -51 -1,653 -20 -380 -448 -485 -416
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 1.18 6.90 5.83 1.88 2.54 2.30 5.36
Price to Tangible Book Value (P/TBV)		 1.18 6.90 5.83 1.88 2.54 2.30 5.36
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.05 0.00 49.27 5.48 8.66 7.08 26.72
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 2.35 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.85 -2.23 -1.25 -0.86 -0.80 -0.79 -0.81
Leverage Ratio		 1.15 2.46 1.42 1.09 1.12 1.13 1.13
Compound Leverage Factor		 1.07 2.49 1.40 1.07 1.04 1.04 1.04
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.14% 0.48% 0.11% 0.13% 0.13% 0.00% 0.00%
Common Equity to Total Capital		 98.86% 99.52% 99.89% 99.87% 99.87% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 2.19 -4.57 51.80 7.10 9.70 5.62 22.61
Noncontrolling Interest Sharing Ratio		 1.14% 0.68% 0.17% 0.12% 0.13% 0.07% 0.00%
Liquidity Ratios		 - - - - - - -
Current Ratio		 18.16 81.71 47.81 22.91 18.98 14.21 15.95
Quick Ratio		 17.99 80.77 47.30 22.68 18.75 14.04 15.77
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 610 -956 -391 -347 -345 -282
Operating Cash Flow to CapEx		 -423.84% -254.28% -100.57% -137.26% -284.02% -441.90% -668.39%
Free Cash Flow to Firm to Interest Expense		 0.00 29.38 -673.49 -163.12 -145.93 -155.29 -138.26
Operating Cash Flow to Interest Expense		 -443.95 -2.95 -90.14 -90.88 -100.98 -123.45 -118.92
Operating Cash Flow Less CapEx to Interest Expense		 -548.69 -4.11 -179.77 -157.09 -136.53 -151.39 -136.71
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 23 -644 161 258 269 247 198
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 -667 805 97 12 -22 -49
Enterprise Value (EV)		 47 1,432 7,928 1,412 2,333 1,749 5,295
Market Capitalization		 175 2,428 9,374 2,472 3,402 2,660 6,266
Book Value per Share		 $0.62 $12.24 $3.80 $3.02 $2.73 $2.26 $1.94
Tangible Book Value per Share		 $0.62 $12.24 $3.80 $3.02 $2.73 $2.26 $1.94
Total Capital		 150 353 1,609 1,320 1,340 1,158 1,169
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -130 -998 -1,448 -1,062 -1,071 -911 -971
Capital Expenditures (CapEx)		 9.85 24 127 159 85 62 36
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -5.97 -0.73 -15 -36 -44 -53 -51
Debt-free Net Working Capital (DFNWC)		 124 997 1,433 1,026 1,026 857 920
Net Working Capital (NWC)		 124 997 1,433 1,026 1,026 857 920
Net Nonoperating Expense (NNE)		 12 1,625 -105 117 110 110 104
Net Nonoperating Obligations (NNO)		 -128 -998 -1,448 -1,062 -1,071 -911 -971
Total Depreciation and Amortization (D&A)		 3.90 9.28 27 40 31 36 54
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.11) ($0.95) ($0.96) ($0.94) ($0.76)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 404.26M 432.97M 462.24M 508.10M 575.95M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.52) ($0.95) ($0.96) ($0.94) ($0.76)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 409.51M 432.97M 462.24M 508.10M 575.95M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 95.45M 439.97M 495.81M 546.91M 612.58M
Normalized Net Operating Profit after Tax (NOPAT)		 -39 -57 -151 -294 -335 -368 -331
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 -582.73 -80.04 -32.73 -175.24 -201.59 -234.60 -230.55
NOPAT to Interest Expense		 -415.67 -2.73 -106.19 -122.73 -141.07 -165.31 -162.25
EBIT Less CapEx to Interest Expense		 -687.48 -81.20 -122.35 -241.45 -237.15 -262.53 -248.35
NOPAT Less CapEx to Interest Expense		 -520.41 -3.89 -195.82 -188.94 -176.62 -193.24 -180.04
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -1.03%

Quarterly Metrics And Ratios for QuantumScape

This table displays calculated financial ratios and metrics derived from QuantumScape's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 612,581,909.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 612,581,909.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.16
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 -2.68% -17.43% -25.00% -10.90% -7.79% 7.96% 14.24% 16.86% 14.05% 11.95% 10.89%
EBIT Growth		 0.04% -10.23% -19.77% -9.08% -8.31% 0.36% 6.40% 8.40% 11.63% 13.60% 11.57%
NOPAT Growth		 -0.18% -9.88% -19.93% -8.84% -7.68% -3.25% 6.31% 8.09% 11.65% 14.17% 11.65%
Net Income Growth		 5.99% -3.93% -15.29% -5.53% -8.23% -1.17% 5.14% 6.71% 11.59% 12.70% 11.91%
EPS Growth		 14.81% 8.00% 0.00% 3.85% 0.00% 4.35% 12.50% 20.00% 21.74% 22.73% 23.81%
Operating Cash Flow Growth		 -10.97% 8.65% 7.02% -12.96% -48.35% -2.06% -4.84% 5.08% 31.32% 4.27% 2.04%
Free Cash Flow Firm Growth		 32.42% 43.96% 59.42% 65.03% 45.43% 31.39% -26.90% -22.01% 69.52% 58.11% 60.95%
Invested Capital Growth		 22.83% 4.48% -9.27% -13.18% -5.59% -8.27% -0.70% -6.93% -21.36% -19.80% -17.45%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 2.05% -7.34% -4.84% -0.60% 4.79% 8.34% 2.31% 2.48% 1.57% 5.88% 1.52%
EBIT Q/Q Growth		 2.22% -3.89% -5.55% -1.73% 2.91% 4.43% 0.85% 0.44% 6.34% 6.35% -1.12%
NOPAT Q/Q Growth		 2.16% -3.12% -5.83% -1.94% 3.20% 1.13% 3.98% -0.01% 6.95% 3.95% 1.15%
Net Income Q/Q Growth		 5.07% -2.47% -6.43% -1.93% 2.65% 4.21% 0.21% -0.24% 7.74% 5.40% -0.69%
EPS Q/Q Growth		 11.54% 0.00% -4.35% -4.17% 8.00% 4.35% 4.55% 4.76% 10.00% 5.56% 5.88%
Operating Cash Flow Q/Q Growth		 -8.46% 8.13% -0.82% -12.44% -42.44% 36.79% -3.57% -1.80% -3.06% 11.90% -5.99%
Free Cash Flow Firm Q/Q Growth		 15.56% 28.24% 32.40% 14.62% -31.75% 9.78% -25.03% 17.91% 67.09% -24.03% -16.54%
Invested Capital Q/Q Growth		 1.52% -5.68% -7.18% -2.32% 10.39% -8.36% 0.49% -8.45% -6.73% -6.53% 3.43%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 99.66% 100.34% 100.00% 100.00% 100.28% 99.71% 100.00% 100.00% 100.00% 101.57% 100.01%
Interest Burden Percent		 92.11% 90.24% 91.30% 91.48% 91.47% 92.21% 92.53% 93.16% 91.77% 91.26% 92.30%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -31.48% -33.47% -36.62% -39.40% -37.77% -38.27% -39.84% -42.00% -38.65% -37.39% -38.00%
Cash Return on Invested Capital (CROIC)		 -146.91% -131.60% -123.72% -122.24% -125.66% -133.74% -144.52% -143.06% -118.76% -126.63% -122.41%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -31.44% -33.42% -36.57% -39.34% -37.75% -38.24% -39.81% -41.97% -38.65% -37.39% -38.00%
Return on Equity Simple (ROE_SIMPLE)		 -31.23% 0.00% -36.66% -39.61% -42.91% 0.00% -42.55% -45.23% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -85 -87 -92 -94 -91 -90 -87 -87 -80 -77 -76
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -2.28% -2.45% -2.84% -3.12% -2.90% -2.48% -2.99% -3.25% -2.75% -2.42% -2.76%
Return On Investment Capital (ROIC_SIMPLE)		 - -6.52% - - - -7.78% -7.80% -8.44% -6.62% -6.61% -6.89%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -120 -125 -132 -134 -130 -125 -124 -123 -115 -108 -109
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -112 -120 -126 -127 -121 -111 -108 -106 -104 -98 -96
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.12 2.54 2.45 2.08 2.62 2.30 2.05 3.67 5.74 5.36 3.52
Price to Tangible Book Value (P/TBV)		 2.12 2.54 2.45 2.08 2.62 2.30 2.05 3.67 5.74 5.36 3.52
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 6.55 8.66 8.29 6.23 7.67 7.08 5.70 13.02 28.16 26.72 14.65
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.82 -0.80 -0.79 -0.78 -0.78 -0.79 -0.79 -0.79 -0.79 -0.81 -0.80
Leverage Ratio		 1.11 1.12 1.14 1.16 1.12 1.13 1.15 1.16 1.12 1.13 1.12
Compound Leverage Factor		 1.02 1.01 1.04 1.06 1.03 1.04 1.06 1.08 1.03 1.03 1.04
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.12% 0.13% 0.14% 0.15% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 99.88% 99.87% 99.86% 99.85% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 9.87 10.48 6.65 4.16 7.66 6.61 5.68 11.83 29.55 23.52 15.76
Noncontrolling Interest Sharing Ratio		 0.12% 0.13% 0.14% 0.15% 0.07% 0.07% 0.08% 0.08% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 24.57 18.98 10.38 8.66 14.07 14.21 16.66 16.40 21.14 15.95 20.93
Quick Ratio		 24.35 18.75 10.03 8.34 13.86 14.04 16.45 16.22 20.89 15.77 20.67
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -138 -99 -67 -57 -75 -68 -85 -70 -23 -28 -33
Operating Cash Flow to CapEx		 -348.00% -416.42% -410.38% -344.30% -517.70% -525.51% -1,041.11% -744.34% -646.52% -419.59% -596.30%
Free Cash Flow to Firm to Interest Expense		 -232.20 -169.77 -116.78 -101.48 -136.62 -125.55 -160.54 -134.86 -45.53 -57.73 -69.24
Operating Cash Flow to Interest Expense		 -105.49 -98.75 -101.30 -115.93 -168.73 -108.62 -115.05 -119.85 -126.71 -114.13 -124.50
Operating Cash Flow Less CapEx to Interest Expense		 -135.81 -122.47 -125.99 -149.60 -201.32 -129.29 -126.11 -135.95 -146.31 -141.33 -145.38
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 286 269 250 244 270 247 248 227 212 198 205
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 53 12 -26 -37 -16 -22 -1.74 -17 -58 -49 -43
Enterprise Value (EV)		 1,869 2,333 2,071 1,522 2,069 1,749 1,415 2,958 5,970 5,295 3,004
Market Capitalization		 2,995 3,402 3,079 2,458 2,910 2,660 2,275 3,756 6,973 6,266 3,908
Book Value per Share		 $3.15 $2.73 $2.54 $2.36 $2.19 $2.26 $2.03 $1.83 $2.15 $1.94 $1.81
Tangible Book Value per Share		 $3.15 $2.73 $2.54 $2.36 $2.19 $2.26 $2.03 $1.83 $2.15 $1.94 $1.81
Total Capital		 1,413 1,340 1,260 1,182 1,111 1,158 1,109 1,025 1,216 1,169 1,110
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -1,127 -1,071 -1,010 -938 -841 -911 -860 -797 -1,004 -971 -905
Capital Expenditures (CapEx)		 18 14 14 19 18 11 5.84 8.31 9.86 13 9.98
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -36 -44 -65 -77 -48 -53 -41 -40 -36 -51 -33
Debt-free Net Working Capital (DFNWC)		 1,091 1,026 944 861 793 857 819 757 967 920 872
Net Working Capital (NWC)		 1,091 1,026 944 861 793 857 819 757 967 920 872
Net Nonoperating Expense (NNE)		 26 26 28 29 29 25 28 28 25 23 24
Net Nonoperating Obligations (NNO)		 -1,127 -1,071 -1,010 -938 -841 -911 -860 -797 -1,004 -971 -905
Total Depreciation and Amortization (D&A)		 8.25 4.69 5.81 7.33 9.51 14 15 17 11 10 13
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.23) ($0.23) ($0.24) ($0.25) ($0.23) ($0.22) ($0.21) ($0.20) ($0.18) ($0.17) ($0.16)
Adjusted Weighted Average Basic Shares Outstanding		 471.75M 462.24M 496.15M 501.23M 508.96M 508.10M 548.01M 561.70M 588.73M 575.95M 611.01M
Adjusted Diluted Earnings per Share		 ($0.23) ($0.23) ($0.24) ($0.25) ($0.23) ($0.22) ($0.21) ($0.20) ($0.18) ($0.17) ($0.16)
Adjusted Weighted Average Diluted Shares Outstanding		 471.75M 462.24M 496.15M 501.23M 508.96M 508.10M 548.01M 561.70M 588.73M 575.95M 611.01M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 489.56M 495.81M 499.53M 506.11M 512.47M 546.91M 558.93M 566.02M 601.31M 612.58M 615.15M
Normalized Net Operating Profit after Tax (NOPAT)		 -85 -87 -92 -94 -91 -90 -87 -87 -80 -77 -76
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -203.18 -215.07 -230.98 -239.16 -237.27 -230.96 -234.21 -238.61 -229.26 -219.50 -228.46
NOPAT to Interest Expense		 -142.68 -149.91 -161.42 -167.47 -165.66 -166.82 -163.83 -167.66 -160.03 -157.14 -159.89
EBIT Less CapEx to Interest Expense		 -233.50 -238.78 -255.67 -272.83 -269.86 -251.63 -245.26 -254.71 -248.86 -246.70 -249.34
NOPAT Less CapEx to Interest Expense		 -172.99 -173.63 -186.10 -201.14 -198.25 -187.49 -174.88 -183.76 -179.63 -184.34 -180.76
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -1.03% -1.07%

Financials Breakdown Chart

Key Financial Trends

Here are the key multi-year trends for QuantumScape (QS) based on quarterly financial statements through 2025. The focus is on liquidity, cash flows, profitability, and financing activity, with a quick read on how these items may affect investors.

  • Equity financing has provided meaningful runway. QuantumScape has raised substantial capital via common equity issuances in late 2024 and 2025, totaling roughly $397 million (Q4 2024: ~\$128.5M; Q3 2025: ~\$267.6M; plus smaller amounts in early 2025). These inflows help fund ongoing R&D and operating losses.
  • Liquidity remains robust in mid-2025. Cash & equivalents around \$226M and short-term investments around \$778M give a liquidity base near \$1.0B, with total assets close to \$1.34B (as of Q3 2025).
  • Net cash from investing activities turned positive in Q4 2025. Net cash from continuing investing activities was about \$32.0M, supported by a \$295.2M inflow from sale/maturity of investments.
  • Financing inflows were positive in recent quarters. Net cash from financing activities showed positive momentum in quarters like Q3 2025 (around \$27.3M), reflecting ongoing equity fundraising.
  • No revenue in recent quarters. Total Revenue remains at zero, highlighting that the company is still in a heavy investment/tech development phase with no product revenue yet (neutral for evaluating near-term profitability).
  • Non-cash adjustments are sizable. Substantial non-cash adjustments to reconcile net income to cash flow appear in multiple quarters, which can inflate or distort cash flow relative to reported net income.
  • Ongoing losses and negative net income. Net income attributable to common shareholders was about -\$100.1 million in Q4 2025, with similar annual loss patterns in surrounding quarters.
  • Operating cash flow remains negative, signaling cash burn. Net cash from operating activities runs around -\$60 million per quarter (examples: Q4 2025 -\$56.15M; Q3 2025 -\$63.73M; Q2 2025 -\$61.84M; Q1 2025 -\$60.75M).
  • Heavy R&D and SG&A expenses continue to outpace any revenue. R&D around \$86.8M–\$101.2M per quarter and SG&A around \$22M–\$29M, with total operating expenses well above any near-term revenue.
  • Dilution risk from ongoing equity issuances. Weighted-average shares outstanding have risen across 2024–2025 (e.g., mid- to high-600 million on a trailing basis), increasing potential dilution for existing shareholders.
05/06/26 09:44 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About QuantumScape's Financials

When does QuantumScape's fiscal year end?

According to the most recent income statement we have on file, QuantumScape's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has QuantumScape's net income changed over the last 6 years?

QuantumScape's net income appears to be on a downward trend, with a most recent value of -$435.05 million in 2025, rising from -$51.26 million in 2019. The previous period was -$477.94 million in 2024. See QuantumScape's forecast for analyst expectations on what’s next for the company.

What is QuantumScape's operating income?
QuantumScape's total operating income in 2025 was -$472.60 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $472.60 million
How has QuantumScape's revenue changed over the last 6 years?

Over the last 6 years, QuantumScape's total revenue changed from $0.00 in 2019 to $0.00 in 2025, a change of 0.0%.

How much debt does QuantumScape have?

QuantumScape's total liabilities were at $139.18 million at the end of 2025, a 15.4% decrease from 2024, and a 533.2% increase since 2019.

How much cash does QuantumScape have?

In the past 6 years, QuantumScape's cash and equivalents has ranged from $22.82 million in 2019 to $320.70 million in 2021, and is currently $230.52 million as of their latest financial filing in 2025.

How has QuantumScape's book value per share changed over the last 6 years?

Over the last 6 years, QuantumScape's book value per share changed from 0.62 in 2019 to 1.94 in 2025, a change of 213.3%.


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Financial statements for NYSE:QS last updated on 4/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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