QuantumScape Corporation (QS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 19, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 24, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the QS SEC filings page.
This page shows QuantumScape Corporation (QS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Research-heavy development spending drives persistent cash consumption, while FY2025 cost restraint modestly reduced the operating loss.
The FY2025 net loss of$435.1M translated into operating cash outflow of-$242.5M , so accounting loss overstated immediate cash consumption. Yet free cash flow was-$278.8M , showing capital spending remained an additional cash demand beyond operations.
The FY2025 operating loss narrowed to
At FY2025 year-end, the reported cash, equivalents and investments comparison equaled 48 months of reported operating outflow, while the current ratio was 15.9x. Debt-to-equity fell from 0.1x in FY2024 to 0.1x in FY2025 after rounding, pointing to limited reliance on debt financing.
Financial Health Signals
QuantumScape Corporation does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
QuantumScape Corporation passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass.
QuantumScape Corporation reported a net loss of $435.1M while operations used $242.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
QuantumScape Corporation reported an operating loss of $472.6M against $2.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
QuantumScape Corporation's EBITDA was -$92.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.9% from the same quarter a year earlier. Against the prior quarter it is up 1.8%.
QuantumScape Corporation reported -$98.2M in net income in Q2 2026. This represents an increase of 14.3% from the same quarter a year earlier. Against the prior quarter it is up 2.5%.
QuantumScape Corporation earned -$0.16 per diluted share (EPS) in Q2 2026. This represents an increase of 20.0% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Cash & Balance Sheet
QuantumScape Corporation recorded an outflow of $61.4M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 12.9% from the same quarter a year earlier. Against the prior quarter it is up 11.7%.
QuantumScape Corporation held $132.9M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
QuantumScape Corporation's ROE was -9.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
QuantumScape Corporation invested $82.5M in research and development in Q2 2026. This represents a decrease of 18.4% from the same quarter a year earlier. Against the prior quarter it is down 2.4%.
QuantumScape Corporation invested $4.6M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 46.2% from the same quarter a year earlier. Against the prior quarter it is down 53.7%.
Not reported for Q2 2026.
QS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $82.5M-18.4% | $84.6M-11.5% | N/A | $92.1M-5.1% | $101.2M+3.5% | $95.6M+14.0% | N/A | $97.0M+10.0% |
| SG&A Expenses | $23.6M+5.3% | $24.6M-12.1% | N/A | $22.9M-30.9% | $22.4M-39.0% | $28.0M-41.8% | N/A | $33.2M+1.4% |
| Operating Income | -$106.1M+14.1% | -$109.2M+11.6% | N/A | -$115.0M+11.7% | -$123.6M+8.1% | -$123.6M+6.3% | N/A | -$130.2M-7.7% |
| EBITDA | -$92.7M+10.9% | -$94.4M+10.3% | N/A | -$100.8M+12.6% | -$104.1M+14.4% | -$105.2M+12.2% | N/A | -$115.3M-5.5% |
| Interest Expense | $466K-9.7% | $478K-9.5% | N/A | $503K-8.5% | $516K-8.2% | $528K-7.7% | N/A | $550K-7.3% |
| Income Tax | $193K+209.7% | $7K-95.9% | N/A | $0 | -$176K | $169K | N/A | $0 |
| Net Income | -$98.2M+14.3% | -$100.8M+11.9% | N/A | -$105.8M+11.5% | -$114.7M+6.7% | -$114.4M+5.2% | N/A | -$119.6M-8.1% |
| EPS (Basic) | -$0.16+20.0% | -$0.16+23.8% | -$0.17+22.7% | -$0.18+21.7% | -$0.20+20.0% | -$0.21+12.5% | -$0.22+4.3% | -$0.230.0% |
| EPS (Diluted) | -$0.16+20.0% | -$0.16+23.8% | -$0.17+22.7% | -$0.18+21.7% | -$0.20+20.0% | -$0.21+12.5% | -$0.22+4.3% | -$0.230.0% |
| Diluted Shares (Avg) | 617M+9.9% | 611M+11.5% | N/A | 589M+15.7% | 562M+12.1% | 548M+10.5% | N/A | 509M+7.9% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit.
QS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B0.0% | $1.2B-2.4% | $1.3B-1.1% | $1.3B+5.6% | $1.2B-16.4% | $1.3B-14.0% | $1.3B-12.0% | $1.3B-18.8% |
| Current Assets | $869.1M+7.8% | $915.9M+5.1% | $981.6M+6.4% | $1.0B+19.0% | $806.2M-17.2% | $871.5M-16.6% | $922.3M-14.9% | $853.7M-25.0% |
| Cash & Equivalents | $132.9M-23.0% | $145.1M-5.5% | $230.5M+63.6% | $225.8M+29.3% | $172.5M-12.2% | $153.6M-20.2% | $140.9M-1.2% | $174.7M-30.3% |
| Short-Term Investments | $726.1M+16.2% | $759.6M+7.5% | $740.3M-3.8% | $777.9M+16.7% | $625.0M-15.7% | $706.8M-13.5% | $769.9M-17.1% | $666.3M-24.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $120.8M-15.9% | $119.4M-20.5% | $139.2M-15.4% | $127.5M-21.0% | $143.6M-33.1% | $150.3M-26.4% | $164.5M+1.7% | $161.4M+5.6% |
| Current Liabilities | $47.2M-4.0% | $43.8M-16.3% | $61.5M-5.1% | $48.0M-20.8% | $49.2M-56.3% | $52.3M-48.0% | $64.9M+13.6% | $60.7M+31.1% |
| Non-Current Liabilities | $73.6M-22.1% | $75.7M-22.8% | $77.6M-22.1% | $79.4M-21.1% | $94.4M-7.7% | $98.0M-5.5% | $99.7M-4.8% | $100.7M-5.4% |
| Total Equity | $1.0B+2.3% | $1.1B+0.1% | $1.2B+1.0% | $1.2B+9.5% | $1.0B-13.2% | $1.1B-11.9% | $1.2B-13.5% | $1.1B-21.3% |
| Retained Earnings | -$4.0B-11.3% | -$3.9B-12.1% | -$3.8B-13.0% | -$3.7B-13.9% | -$3.6B-14.8% | -$3.5B-15.7% | -$3.4B-16.6% | -$3.2B-17.2% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
QS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$56.7M+8.2% | -$59.5M+2.0% | -$56.1M+4.3% | -$63.7M+31.3% | -$61.8M+5.1% | -$60.7M-4.8% | -$58.7M-2.1% | -$92.8M-48.3% |
| Depreciation & Amortization | $13.4M-31.3% | $14.8M-19.5% | $13.6M-24.4% | $14.2M-4.7% | $19.5M+51.2% | $18.3M+53.0% | $18.0M+66.8% | $14.9M+28.0% |
| Stock-Based Compensation | $27.3M+3.8% | $30.5M-24.9% | N/A | $29.2M-32.7% | $26.3M-45.0% | $40.6M+110.7% | N/A | $43.4M+7.4% |
| Capital Expenditures | $4.6M-46.2% | $10.0M+71.0% | $12.3M+10.0% | $9.6M-46.9% | $8.6M-54.6% | $5.8M-58.7% | $11.2M-19.8% | $18.0M+0.4% |
| Free Cash Flow | -$61.4M+12.9% | -$69.5M-4.4% | -$68.4M+2.0% | -$73.3M+33.9% | -$70.4M+16.2% | -$66.6M+7.6% | -$69.8M+2.2% | -$110.8M-37.6% |
| Investing Cash Flow | $32.1M-58.5% | -$25.7M-141.4% | $32.0M+129.4% | -$156.4M-336.5% | $77.3M+18.3% | $62.0M-41.8% | -$109.1M-102.1% | $66.1M+131.6% |
| Financing Cash Flow | $12.5M+258.2% | -$256K-102.2% | $27.3M-79.6% | $270.6M+5326.9% | $3.5M-10.9% | $11.4M+817.5% | $133.9M+4161.3% | $5.0M-98.3% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
QS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -9.4%+1.8pp | -9.1%+1.2pp | N/A | -8.7%+2.1pp | -11.2%-0.8pp | -10.3%-0.7pp | N/A | -10.8%-2.9pp |
| Return on Assets | -8.4%+1.4pp | -8.2%+0.9pp | N/A | -7.9%+1.5pp | -9.8%-1.0pp | -9.1%-0.8pp | N/A | -9.4%-2.3pp |
| Current Ratio | 18.42+2.0x | 20.93+4.3x | 15.95+1.7x | 21.14+7.1x | 16.40+7.7x | 16.66+6.3x | 14.21-4.8x | 14.07-10.5x |
| Debt-to-Equity | 0.120.0x | 0.110.0x | 0.120.0x | 0.100.0x | 0.140.0x | 0.140.0x | 0.140.0x | 0.150.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| QuantumScape Corporation QS | FY2025 | N/A | -$435.1M | N/A | $3.1B | — |
| ALLISON TRANSMISSION HOLDINGS, INC. ALSN | FY2025 | $3.0B | $623.0M | 20.7% | $9.7B | 72/100 |
| Gentex Corp GNTX | FY2025 | $2.5B | $384.8M | 15.2% | $4.7B | 77/100 |
| Dana Incorporated DAN | FY2025 | $7.5B | $85.0M | 1.1% | $3.2B | 27/100 |
| PHINIA Inc. PHIN | FY2025 | $3.5B | $130.0M | 3.7% | $2.3B | 51/100 |
| Solid Power, Inc. SLDP | FY2025 | $21.7M | -$93.4M | N/A | $563.6M | 64/100 |
Where QuantumScape Corporation Ranks
Frequently Asked Questions
Is QuantumScape Corporation profitable?
No, QuantumScape Corporation (QS) reported a net income of -$435.1M in fiscal year 2025.
What is QuantumScape Corporation's EBITDA?
QuantumScape Corporation (QS) had EBITDA of -$407.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is QuantumScape Corporation's return on equity (ROE)?
QuantumScape Corporation (QS) has a return on equity of -37.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is QuantumScape Corporation's free cash flow?
QuantumScape Corporation (QS) recorded an outflow of $278.8M in free cash flow during fiscal year 2025. This represents a 17.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is QuantumScape Corporation's operating cash flow?
QuantumScape Corporation (QS) recorded an outflow of $242.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are QuantumScape Corporation's total assets?
QuantumScape Corporation (QS) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are QuantumScape Corporation's capital expenditures?
QuantumScape Corporation (QS) invested $36.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does QuantumScape Corporation spend on research and development?
QuantumScape Corporation (QS) invested $375.6M in research and development during fiscal year 2025.
What is QuantumScape Corporation's current ratio?
QuantumScape Corporation (QS) had a current ratio of 15.95 as of fiscal year 2025, which is generally considered healthy.
What is QuantumScape Corporation's debt-to-equity ratio?
QuantumScape Corporation (QS) had a debt-to-equity ratio of 0.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is QuantumScape Corporation's return on assets (ROA)?
QuantumScape Corporation (QS) had a return on assets of -33.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is QuantumScape Corporation's P/E ratio?
QuantumScape Corporation (QS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $3.1B as of Sep 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is QuantumScape Corporation's price-to-sales ratio?
QuantumScape Corporation (QS) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $3.1B as of Sep 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does QuantumScape Corporation's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, QuantumScape Corporation (QS) held $970.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $242.5M over that year. Dividing the one by the other, the reported balance equals about 48 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is QuantumScape Corporation's Piotroski F-Score?
QuantumScape Corporation (QS) has a Piotroski F-Score of 3 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are QuantumScape Corporation's earnings high quality?
QuantumScape Corporation (QS) reported a net loss of $435.1M while operations used $242.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can QuantumScape Corporation cover its interest payments?
QuantumScape Corporation (QS) reported an operating loss of $472.6M against $2.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.