QuantumScape Corporation (QS) financials
NASDAQ · Consumer Cyclical · Auto - Parts · 700 employees · CEO Siva Sivaram
- Price
- $4.06 -3.33%
- Market cap
- $2.51B
- Enterprise value
- $2.5B
- Last report
- Q3 '26 filed 2026-10-23
- Next report
- 2027-02-10 EPS est. -$0.18
Revenue (TTM)$0– vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)–– vs a year agoOperating income -$418M
Net income (TTM)-$384M+14.7% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-$259M+7.6% vs a year agoCapex $31.3M
Diluted EPS (TTM)-$0.63+23.2% vs a year agoSum of the last 4 quarters
Net cash$755M-18.9% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $2.51B EV $2.5B
- Revenue
- $0 Trailing 12 months
- Revenue growth
- – FY2026 consensus
- Profit margin
- – Net income / revenue, TTM
- P/E
- -6.4× Forward -6.4× (FY2026)
- P/S
- 0.0× Price / sales, TTM
- EV / EBITDA
- -7.5× TTM
- Free cash flow
- -$259M Trailing 12 months
- Net income
- -$384M Trailing 12 months
- Revenue estimate
- $56K FY2026 consensus
- Earnings
- 2027-02-10 Revenue est. $1M
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-21): revenue n/a, EPS beat by 19.1%Revenue – vs $1M expected (–); EPS -$0.14 vs -$0.17 (+19.1%).
- Diluted share count up 9.6% in a year621M diluted shares in Q3 '26, 566M a year earlier.
- Net cash $755MCash + short-term investments $820M, debt incl. leases $65M; a year ago net cash $931M.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $0 | $0 | – |
| Operating income | -$92.4M | -$115M | +19.6% |
| Net income | -$84.5M | -$106M | +20.2% |
| Diluted EPS | -$0.14 | -$0.18 | +22.2% |
| Operating cash flow | -$55.1M | -$63.7M | +13.6% |
| Capex | $4.45M | $9.86M | -54.9% |
| Free cash flow | -$59.5M | -$73.6M | +19.1% |
| R&D | $73.9M | $77.9M | -5.2% |
| Stock-based compensation | $16.3M | $29.2M | -44.2% |
Reported vs consensus
2026-10-21| Actual | Consensus | vs consensus | |
|---|---|---|---|
| EPS (as estimated) | -$0.14 | -$0.17 | +19.1% |
From the report of 2026-10-21 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyMargins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- -$227M
- Capex
- -$31.3M
- Buybacks
- $0
- Dividends
- $0
- Acquisitions
- $0
- Net debt issued
- -$3.49M
- Stock-based compensation
- $105M
- Free cash flow
- -$259M
- Returned to shareholders / FCF
- 0.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | -6.4× | – | – |
| EV / EBITDA | -7.5× | – | – |
| EV / Sales | 0.0× | – | – |
| Price / FCF | -9.7× | – | – |
| Price / Book | 2.5× | 3.5× | 1.9× – 5.6× |
| FCF yield | -10.3% | -9.1% | -15.4% – -2.8% |
| Return on invested capital | -38.9% | -30.3% | -40.4% – -12.8% |
| Return on equity | -35.5% | -29.2% | -41.3% – -2.9% |
Analysts
Consensus target $5.25 (+29.3%)
range $4.50 – $6.00 · rating Hold
Strong buy0
Buy0
Hold8
Sell3
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $56K | – | -$0.63 | +16.5% | -6.4× | 4 |
| FY2027 | $304K | +442.7% | -$0.62 | +1.7% | -6.5× | 5 |
| FY2028 | $133M | +43,694.8% | -$0.54 | +13.6% | -7.5× | 7 |
| FY2029 | $168M | +26.1% | -$0.36 | +33.4% | -11.3× | 2 |
| FY2030 | $406M | +141.9% | -$0.07 | +79.7% | -55.6× | 4 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 197 figures QuantumScape Corporation tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $6M | $6.45M | -6.9% | $11.8M | $6.47M | +82.8% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $3.24M | $4.58M | -29.3% | $19M | $29.3M | -35.3% |
| Accrued Liabilities, Current | $17M | $14M | +21.8% | $14.5M | $17.4M | -16.8% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $215M | $183M | +17.6% | $192M | $155M | +23.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$2.09M | $543K | -484.7% | $644K | $428K | +50.5% |
| Additional Paid in Capital, Common Stock | $5.07B | $4.91B | +3.4% | $4.96B | $4.52B | +9.9% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | -1.62M | -8.7M | +81.4% | 42.4M | 61.5M | -31.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $14.3M | $24.8M | -42.3% | $110M | $122M | -10.4% |
| Asset Retirement Obligation, Current | $14.3M | $13.6M | +5.1% | $13.7M | $12.4M | +10.5% |
| Asset Retirement Obligations, Noncurrent | $14.3M | – | – | $13.7M | $12.4M | +10.8% |
| Assets | $1.12B | $1.34B | -16.7% | $1.31B | $1.32B | -1.1% |
| Assets, Current | $833M | $1.02B | -18.0% | $982M | $922M | +6.4% |
| Capital Expenditures Incurred but Not yet Paid | $230K | -$2.19M | +110.5% | $9.7M | $3.25M | +198.4% |
| Cash and Cash Equivalents, at Carrying Value | $75.6M | $226M | -66.5% | $231M | $141M | +63.6% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $89.3M | $241M | -63.0% | $244M | $159M | +53.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$57.3M | $50.5M | -213.3% | $85.3M | -$1.66M | +5,242.6% |
| Common Stock, Shares Authorized | 1.25B | 1.25B | 0.0% | 1.25B | 1.25B | 0.0% |
| Common Stock, Value, Issued | $62K | $60K | +3.3% | $61K | $54K | +13.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $02025-09-30 | -$127K | +100.0% | -$85K2024-12-31 | $66K | -228.8% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$100M2025-12-31 | -$115M | +13.2% | -$435M | -$475M | +8.4% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -$85.6M | -$105M | +18.6% | -$435M | -$475M | +8.4% |
| Current Income Tax Expense (Benefit) | $0 | $0 | – | $0 | $0 | – |
| Debt Securities, Available-for-sale, Allowance for Credit Loss | $0 | $0 | – | $0 | $0 | – |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | – | – | – | $1.06M2024-12-31 | $213M | -99.5% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | – | – | – | $3K2024-12-31 | $3.24M | -99.9% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $727M | $78M | +831.3% | $17.3M | $130M | -86.7% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $2.09M | $9K | +23,122.2% | $17K | $33K | -48.5% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $727M | $78M | +831.3% | $17.3M | $131M | -86.8% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $2.09M | $9K | +23,122.2% | $17K | $36K | -52.8% |
| Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $100M | – | – | $4.95M | – | – |
| Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $711M | $993M | -28.4% | $944M | $890M | +6.0% |
| Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $99.9M | – | – | $4.95M | – | – |
| Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $710M | $994M | -28.6% | $944M | $891M | +6.0% |
| Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost | $811M | $993M | -18.3% | $949M | $890M | +6.5% |
| Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value | $809M | $994M | -18.5% | $949M | $891M | +6.6% |
| Deferred Income Tax Expense (Benefit) | $0 | $0 | – | $0 | $0 | – |
| Deferred Tax Assets, Gross | $838M2025-12-31 | $736M | +13.8% | $838M | $736M | +13.8% |
| Deferred Tax Assets, in Process Research and Development | $1.75M2025-12-31 | $117M | -98.5% | $1.75M | $117M | -98.5% |
| Deferred Tax Assets, Net | – | – | – | $1.09M2024-12-31 | – | – |
| Deferred Tax Assets, Net of Valuation Allowance | $52.4M2025-12-31 | $62.2M | -15.7% | $52.4M | $62.2M | -15.7% |
| Deferred Tax Assets, Operating Loss Carryforwards | $704M2025-12-31 | $480M | +46.8% | $704M | $480M | +46.8% |
| Deferred Tax Assets, Tax Credit Carryforwards | $93M2025-12-31 | $84.6M | +10.0% | $93M | $84.6M | +10.0% |
| Deferred Tax Assets, Valuation Allowance | $786M2025-12-31 | $674M | +16.5% | $786M | $674M | +16.5% |
| Deferred Tax Liabilities, Intangible Assets | $1.4M2025-12-31 | $1.01M | +38.9% | $1.4M | $1.01M | +38.9% |
| Deferred Tax Liabilities, Net | $52.4M2025-12-31 | $61.1M | -14.2% | $52.4M | $61.1M | -14.2% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $36.2M2025-12-31 | $39.8M | -9.1% | $36.2M | $39.8M | -9.1% |
| Depreciation, Depletion and Amortization | $12.7M | $14.2M | -10.6% | $65.6M | $57.8M | +13.5% |
| Earnings Per Share, Basic | -$0.14 | -$0.18 | +22.2% | -$0.76 | -$0.94 | +19.1% |
| Earnings Per Share, Diluted | -$0.14 | -$0.18 | +22.2% | -$0.76 | -$0.94 | +19.1% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | -$91M | -$100M | +9.3% |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | – | – | – | $90.7M | $97.5M | -7.0% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | – | – | – | -20.9% | -20.4% | -2.5% |
| Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | – | – | – | $1.56M | -$70K | +2,324.3% |
| Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | – | – | – | -0.4% | 0.0% | – |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount | – | – | – | $23K | $128K | -82.0% |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation and Amortization, Amount | – | – | – | $6.2M | – | – |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation and Amortization, Percent | – | – | – | -1.4% | – | – |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent | – | – | – | 0.0% | 0.0% | – |
| Effective Income Tax Rate Reconciliation, Percent | – | – | – | -0.4% | 0.0% | – |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-02