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Upturn AI SWOT - About
WKSP 
Worksport Ltd (WKSP)
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Upturn Advisory Summary
04/01/2025: WKSP (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Analysis of Past Performance
Type Stock | Historic Profit -62.65% | Avg. Invested days 26 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 04/01/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 15.77M USD | Price to earnings Ratio - | 1Y Target Price 11 |
Price to earnings Ratio - | 1Y Target Price 11 | ||
Volume (30-day avg) 193853 | Beta 2.11 | 52 Weeks Range 2.82 - 12.00 | Updated Date 04/1/2025 |
52 Weeks Range 2.82 - 12.00 | Updated Date 04/1/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -6.6 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Geography
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -242.69% | Operating Margin (TTM) -125.26% |
Management Effectiveness
Return on Assets (TTM) -37.84% | Return on Equity (TTM) -94.71% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 16509652 | Price to Sales(TTM) 2.47 |
Enterprise Value 16509652 | Price to Sales(TTM) 2.47 | ||
Enterprise Value to Revenue 3.04 | Enterprise Value to EBITDA -1.58 | Shares Outstanding 4794450 | Shares Floating 2767550 |
Shares Outstanding 4794450 | Shares Floating 2767550 | ||
Percent Insiders 5.38 | Percent Institutions 8.6 |
Analyst Ratings
Rating 4.5 | Target Price 1.75 | Buy 1 | Strong Buy 1 |
Buy 1 | Strong Buy 1 | ||
Hold - | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Worksport Ltd
Company Overview
History and Background
Worksport Ltd. (founded in 2011) initially focused on manufacturing tonneau covers. It has since shifted its focus toward innovative solar-powered and advanced technology products for the automotive and clean energy sectors.
Core Business Areas
- Truck Bed Covers: Design, manufacture, and sale of tonneau covers for pickup trucks.
- Solar Charging Systems: Development and commercialization of solar charging systems, including the TerraVis and COR series.
- Advanced Technologies: Exploration and development of technologies related to clean energy and vehicle accessories.
Leadership and Structure
Steven Rossi is the CEO. The company has a board of directors and a management team overseeing different departments such as engineering, sales, and marketing.
Top Products and Market Share
Key Offerings
- TerraVis: A solar-powered tonneau cover system designed to generate electricity for electric vehicles and other applications. Market share data is not publicly available at a granular level, and revenue figures are not released for specific products. Competitors include established tonneau cover manufacturers adapting to incorporate solar solutions, as well as other solar energy companies.
- COR Energy Storage System: A modular energy storage system intended for various applications, including residential and commercial use. Market share and specific revenue data are not publicly available. Competitors include Tesla (TSLA), Enphase Energy (ENPH), and other battery storage system providers.
- Tonneau Covers: Traditional truck bed covers in various styles (folding, retractable, etc.). Market share is relatively small compared to established players like Leer and Extang. Precise revenue figures for these covers are not publicly available.
Market Dynamics
Industry Overview
The automotive aftermarket is evolving with a greater emphasis on electric vehicles, renewable energy, and smart technologies. The solar energy storage market is experiencing rapid growth due to increasing demand for clean energy solutions.
Positioning
Worksport is positioning itself as an innovator in the clean energy and automotive accessories space, focusing on solar-powered solutions for trucks and other vehicles. Its competitive advantage lies in its integrated solar tonneau cover systems.
Total Addressable Market (TAM)
The total addressable market for tonneau covers is estimated to be in the billions of dollars globally. The TAM for solar energy storage is significantly larger, projected to reach hundreds of billions of dollars in the coming years. Worksport is positioned to capture a portion of both markets by combining these two sectors.
Upturn SWOT Analysis
Strengths
- Innovative product development (TerraVis)
- Focus on clean energy solutions
- Potential for strong brand image
- Proprietary technology
Weaknesses
- Limited financial resources
- Small market share compared to established players
- Dependency on successful commercialization of new products
- Relatively new company
Opportunities
- Growing demand for electric vehicles and renewable energy
- Partnerships with automotive manufacturers
- Expansion into new markets
- Government incentives for clean energy
Threats
- Competition from larger, more established companies
- Technological advancements by competitors
- Economic downturn impacting consumer spending
- Supply chain disruptions
Competitors and Market Share
Key Competitors
- TSLA
- F
- GM
Competitive Landscape
Worksport's advantage lies in its solar-powered tonneau cover technology; however, it faces challenges due to competition from established automotive and energy companies with greater resources.
Major Acquisitions
Growth Trajectory and Initiatives
Historical Growth: Historical growth can be assessed by reviewing their financial statements.
Future Projections: Future projections for Worksport Ltd's growth are based on analyst estimates, which should be reviewed for up-to-date information.
Recent Initiatives: Recent initiatives include the development and commercialization of the TerraVis and COR series, as well as strategic partnerships and marketing efforts.
Summary
Worksport Ltd. is an innovative company in the automotive and clean energy sectors, pioneering solar-powered tonneau cover systems. While its innovative products are promising, the company faces challenges related to competition and financial resources. Successful commercialization of its products and strategic partnerships are crucial for its growth. Investors should watch Worksport's expansion and innovation in the rapidly changing vehicle industry and green energy markets. The company is still small and relatively speculative.
Similar Companies
- TSLA
- F
- GM
Sources and Disclaimers
Data Sources:
- Company Website
- Press Releases
- Industry Reports
- SEC Filings
- Third-party market research reports
Disclaimers:
The information provided is for informational purposes only and should not be considered investment advice. Market share data is estimated based on available information and may not be precise. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Worksport Ltd
Exchange NASDAQ | Headquaters West Seneca, NY, United States | ||
IPO Launch date 2003-07-15 | Founder, Chairman, President, CEO & Secretary Mr. Steven F. Rossi | ||
Sector Consumer Cyclical | Industry Auto Parts | Full time employees 70 | Website https://www.worksport.com |
Full time employees 70 | Website https://www.worksport.com | ||
Worksport Ltd., through its subsidiary, designs and distributes truck tonneau covers in Canada and the United States. The company offers soft tonneau covers, such as vinyl wrapped tri- and quad-fold tonneau covers; and hard tonneau covers, including tri- and quad-fold aluminum covers. It also offers energy products, such as Worksport SOLIS, a tonneau cover with integrated solar panels; and Worksport COR energy storage system, a modular, portable power station. It serves its products to automotive accessories, consumer electronics, and residential and commercial HVAC system markets. The company also sells its products through wholesalers, private labels, distributors, and online retail channels, including eBay, Amazon, Walmart, and e-commerce platform hosted on Shopify. Worksport Ltd. is based in West Seneca, New York.
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