What is Ree Automotive's earnings per share (EPS)?

Ree Automotive (REE) reported diluted earnings per share of $-1.74 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ree Automotive Financials

REE

Source SEC Filings (10-K/10-Q) Updated May 15, 2026 Currency USD FYE May

This page shows Ree Automotive (REE) 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).

Rhea AI REE FY2024 2026-05-15

REE Automotive remains a cash-funded development-stage business, where financing activity matters more than product revenue.

FY2024 ended with more cash on hand at $72.3M than FY2023's $41.2M, but that improvement did not come from customers. Operating cash outflow was still -$69.0M and financing inflow added $63.5M, so liquidity improved because the balance sheet supplied cash the business did not yet earn.

Operating loss improved to -$79.1M from -$119.9M, which points to spending restraint rather than better demand because revenue stayed negligible. R&D intensity still sat far above sales, so the company is funding product readiness and overhead before it has a commercial base large enough to absorb those costs into normal manufacturing economics.

Current liquidity was still workable at 2.3x, suggesting near-term obligations were coverable at year-end. The bigger shift was balance-sheet strain: liabilities rose to $107.2M while equity fell to $23.1M, leaving less cushion if cash burn persists through a long development cycle.

Financial Health Signals

Financial Profile 7/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Ree Automotive's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Ree Automotive has an operating margin of -8204.3%, meaning the company retains $-8204 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -43239.9% the prior year.

Growth

Ree Automotive's revenue surged 608.7% year-over-year to $1.3M, reflecting rapid business expansion. This strong growth earns a score of 16/100.

Leverage

Ree Automotive has elevated debt relative to equity (D/E of 4.66), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 7/100, reflecting increased financial risk.

Liquidity

Ree Automotive's current ratio of 1.18 is below the typical benchmark, resulting in a score of 19/100. However, the company holds substantial cash reserves (112% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Cash Flow

While Ree Automotive generated -$68.7M in operating cash flow, capex of $6.3M consumed most of it, leaving -$75.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Ree Automotive generates a -826.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -483.2% the prior year.

Piotroski F-Score Weak

2/9

Ree Automotive passes 2 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

1.23x

For every $1 of reported earnings, Ree Automotive generates $1.23 in operating cash flow (-$68.7M OCF vs -$55.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-5600.5x

Ree Automotive earns $-5600.5 in operating income for every $1 of interest expense (-$106.4M vs $19K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.3M

YoY+608.7%

5Y CAGR+27.3%

Ree Automotive generated $1.3M in revenue in fiscal year 2025. This represents an increase of 608.7% from the prior year.

EBITDA

-$103.3M

YoY-36.0%

Ree Automotive's EBITDA was -$103.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 36.0% from the prior year.

Net Income

-$55.8M

YoY+50.1%

Ree Automotive reported -$55.8M in net income in fiscal year 2025. This represents an increase of 50.1% from the prior year.

EPS (Diluted)

$-1.74

Ree Automotive earned $-1.74 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

-$75.0M

YoY+2.0%

Ree Automotive generated -$75.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 2.0% from the prior year.

Cash & Debt

$14.2M

YoY-80.3%

5Y CAGR-20.4%

Ree Automotive held $14.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

29M

Ree Automotive had 29M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

-1254.7%

YoY+656.7pp

5Y CAGR-1188.0pp

Ree Automotive's gross margin was -1254.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 656.7 percentage points from the prior year.

Operating Margin

-8204.3%

YoY+35035.6pp

5Y CAGR+9346.7pp

Ree Automotive's operating margin was -8204.3% in fiscal year 2025, reflecting core business profitability. This is up 35035.6 percentage points from the prior year.

Net Margin

-4302.8%

YoY+56765.0pp

5Y CAGR+13149.0pp

Ree Automotive's net profit margin was -4302.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 56765.0 percentage points from the prior year.

Return on Equity

-826.8%

YoY-343.6pp

5Y CAGR-678.9pp

Ree Automotive's ROE was -826.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 343.6 percentage points from the prior year.

Capital Allocation

R&D Spending

$45.4M

YoY-8.1%

5Y CAGR+9.0%

Ree Automotive invested $45.4M in research and development in fiscal year 2025. This represents a decrease of 8.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$6.3M

YoY-16.3%

5Y CAGR+60.3%

Ree Automotive invested $6.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 16.3% from the prior year.

REE Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.3M+608.7%	$183K-88.6%	$1.6M	$0-100.0%	$6K-98.5%	$388K
Cost of Revenue	$1.6M-55.6%	$3.7M+12.6%	$3.3M+497.8%	$547K-45.0%	$995K+53.8%	$647K
Gross Profit	-$16.3M-365.2%	-$3.5M-110.5%	-$1.7M-203.8%	-$547K+44.7%	-$989K-281.9%	-$259K
R&D Expenses	$45.4M-8.1%	$49.5M-40.2%	$82.7M+5.7%	$78.2M-69.0%	$252.4M+753.1%	$29.6M
SG&A Expenses	$20.0M-23.6%	$26.2M-26.4%	$35.6M-27.7%	$49.2M-81.2%	$262.1M+585.2%	$38.3M
Operating Income	-$106.4M-34.5%	-$79.1M+34.0%	-$119.9M+6.3%	-$128.0M+75.2%	-$515.5M-657.0%	-$68.1M
Interest Expense	$19K-97.9%	$924K+1055.0%	$80K	$0	N/A	N/A
Income Tax	-$2.0M-196.6%	$2.1M+251.7%	-$1.4M-177.8%	$1.7M+36.5%	$1.3M	$0
Net Income	-$55.8M+50.1%	-$111.8M+2.1%	-$114.2M-6.3%	-$107.4M+78.7%	-$505.3M-646.3%	-$67.7M
EPS (Diluted)	$-1.74	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q1'23	Q3'22	Q3'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

REE Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$38.2M-70.7%	$130.3M-5.5%	$137.9M-35.9%	$215.0M-26.6%	$292.9M+497.7%	$49.0M
Current Assets	$15.0M-81.9%	$82.5M-11.8%	$93.5M-43.6%	$165.7M-42.5%	$288.1M+501.1%	$47.9M
Cash & Equivalents	$14.2M-80.3%	$72.3M+75.3%	$41.2M-27.4%	$56.8M-79.4%	$275.8M+516.8%	$44.7M
Inventory	$3.1M0.0%	$3.1M+564.1%	$463K	$0	$0-100.0%	$271K
Accounts Receivable	$24K+118.2%	$11K-97.6%	$455K	$0	$0-100.0%	$55K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$31.4M-70.7%	$107.2M+79.1%	$59.8M+51.1%	$39.6M-6.9%	$42.5M+1216.8%	$3.2M
Current Liabilities	$12.7M-64.9%	$36.2M+2.9%	$35.2M+75.6%	$20.0M-2.5%	$20.6M+536.4%	$3.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$6.8M-70.8%	$23.1M-70.4%	$78.1M-55.5%	$175.4M-29.9%	$250.4M+447.0%	$45.8M
Retained Earnings	-$1.0B-5.9%	-$947.9M-13.4%	-$836.1M-15.8%	-$721.9M-17.5%	-$614.5M-462.8%	-$109.2M

Metric	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q1'23	Q3'22	Q3'21
Total Assets	$130.3M+11.4%	$116.9M-15.2%	$137.9M-16.7%	$165.5M-23.0%	$215.0M-14.6%	$251.7M-14.1%	$292.9M+497.7%	$49.0M
Current Assets	$82.5M+10.0%	$75.0M-19.8%	$93.5M-20.6%	$117.7M-28.9%	$165.7M-25.4%	$222.2M-22.9%	$288.1M+501.1%	$47.9M
Cash & Equivalents	$72.3M+99.2%	$36.3M-12.0%	$41.2M+10.0%	$37.5M-34.0%	$56.8M-41.5%	$97.0M-64.8%	$275.8M+516.8%	$44.7M
Inventory	$3.1M+50.1%	$2.0M+342.3%	$463K	N/A	$0	N/A	$0-100.0%	$271K
Accounts Receivable	$11K	$0-100.0%	$455K	N/A	$0	N/A	$0-100.0%	$55K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$107.2M+98.3%	$54.0M-9.7%	$59.8M+66.4%	$36.0M-9.2%	$39.6M+27.3%	$31.1M-26.9%	$42.5M+1216.8%	$3.2M
Current Liabilities	$36.2M+6.4%	$34.0M-3.4%	$35.2M+92.5%	$18.3M-8.8%	$20.0M+41.3%	$14.2M-31.0%	$20.6M+536.4%	$3.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$23.1M-63.2%	$62.9M-19.5%	$78.1M-39.7%	$129.6M-26.1%	$175.4M-20.5%	$220.6M-11.9%	$250.4M+447.0%	$45.8M
Retained Earnings	-$947.9M-8.7%	-$872.1M-4.3%	-$836.1M-7.6%	-$776.8M-7.6%	-$721.9M-9.2%	-$661.2M-7.6%	-$614.5M-462.8%	-$109.2M

REE Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$68.7M+0.4%	-$69.0M+22.7%	-$89.3M+20.7%	-$112.6M-90.4%	-$59.1M-352.8%	-$13.1M
Capital Expenditures	$6.3M-16.3%	$7.5M+101.1%	$3.7M-66.1%	$11.1M+357.9%	$2.4M+305.9%	$595K
Free Cash Flow	-$75.0M+2.0%	-$76.5M+17.7%	-$93.0M+24.8%	-$123.6M-100.9%	-$61.6M-350.7%	-$13.7M
Investing Cash Flow	-$6.2M-117.3%	$36.0M-27.5%	$49.6M+146.4%	-$106.8M-14182.8%	-$748K+66.9%	-$2.3M
Financing Cash Flow	$16.4M-74.3%	$63.5M+165.1%	$24.0M+886.5%	$2.4M-99.2%	$291.3M+779.5%	$33.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q1'23	Q3'22	Q3'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

REE Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	-1254.7%+656.7pp	-1911.5%-1808.1pp	-103.4%	N/A	-16483.3%-16416.6pp	-66.8%
Operating Margin	-8204.3%+35035.6pp	-43239.9%-35783.9pp	-7456.0%	N/A	-8591600.0%-8574049.0pp	-17551.0%
Net Margin	-4302.8%+56765.0pp	-61067.8%-53965.3pp	-7102.5%	N/A	-8422166.7%-8404714.9pp	-17451.8%
Return on Equity	-826.8%-343.6pp	-483.2%-336.9pp	-146.3%-85.0pp	-61.2%+140.6pp	-201.8%-53.9pp	-147.9%
Return on Assets	-146.2%-60.4pp	-85.8%-3.0pp	-82.8%-32.9pp	-50.0%+122.5pp	-172.5%-34.4pp	-138.2%
Current Ratio	1.18-1.1	2.28-0.4	2.66-5.6	8.27-5.7	14.01-0.8	14.84
Debt-to-Equity	4.66+0.0	4.63+3.9	0.77+0.5	0.23+0.1	0.17+0.1	0.07
FCF Margin	-5783.7%+36028.3pp	-41812.0%-36027.3pp	-5784.7%	N/A	-1025900.0%-1022380.1pp	-3519.9%

Metric	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q1'23	Q3'22	Q3'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.28+0.1	2.21-0.5	2.66-3.8	6.44-1.8	8.27-7.4	15.67+1.7	14.01-0.8	14.84
Debt-to-Equity	4.63+3.8	0.86+0.1	0.77+0.5	0.28+0.1	0.23+0.1	0.14-0.0	0.17+0.1	0.07
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Ree Automotive's annual revenue?

Ree Automotive (REE) reported $1.3M in total revenue for fiscal year 2025. This represents a 608.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ree Automotive's revenue growing?

Ree Automotive (REE) revenue grew by 608.7% year-over-year, from $183K to $1.3M in fiscal year 2025.

Is Ree Automotive profitable?

No, Ree Automotive (REE) reported a net income of -$55.8M in fiscal year 2025, with a net profit margin of -4302.8%.

What is Ree Automotive's EBITDA?

Ree Automotive (REE) had EBITDA of -$103.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Ree Automotive's gross margin?

Ree Automotive (REE) had a gross margin of -1254.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ree Automotive's operating margin?

Ree Automotive (REE) had an operating margin of -8204.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Ree Automotive's net profit margin?

Ree Automotive (REE) had a net profit margin of -4302.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Ree Automotive's return on equity (ROE)?

Ree Automotive (REE) has a return on equity of -826.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ree Automotive's free cash flow?

Ree Automotive (REE) generated -$75.0M in free cash flow during fiscal year 2025. This represents a 2.0% 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 Ree Automotive's operating cash flow?

Ree Automotive (REE) generated -$68.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ree Automotive's total assets?

Ree Automotive (REE) had $38.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Ree Automotive's capital expenditures?

Ree Automotive (REE) invested $6.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Ree Automotive spend on research and development?

Ree Automotive (REE) invested $45.4M in research and development during fiscal year 2025.

How many shares does Ree Automotive have outstanding?

Ree Automotive (REE) had 29M shares outstanding as of fiscal year 2025.

What is Ree Automotive's current ratio?

Ree Automotive (REE) had a current ratio of 1.18 as of fiscal year 2025, which is considered adequate.

What is Ree Automotive's debt-to-equity ratio?

Ree Automotive (REE) had a debt-to-equity ratio of 4.66 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ree Automotive's return on assets (ROA)?

Ree Automotive (REE) had a return on assets of -146.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ree Automotive's cash runway?

Based on fiscal year 2025 data, Ree Automotive (REE) had $14.2M in cash against an annual operating cash burn of $68.7M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Ree Automotive's Piotroski F-Score?

Ree Automotive (REE) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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 Ree Automotive's earnings high quality?

Ree Automotive (REE) has an earnings quality ratio of 1.23x, considered low quality (accrual-driven). 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 Ree Automotive cover its interest payments?

Ree Automotive (REE) has an interest coverage ratio of -5600.5x, meaning it can struggle to cover its interest obligations. 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.

How financially healthy is Ree Automotive?

Ree Automotive (REE) scores 7 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.