Worksport Historical Income Statement

WKSP Stock

USD 0.90 0.06 6.68%

Historical analysis of Worksport income statement accounts such as Interest Expense of 647 K, Selling General Administrative of 14.2 M, Other Operating Expenses of 17.1 M or Total Operating Expenses of 15.7 M can show how well Worksport performed in making a profits. Evaluating Worksport income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of Worksport's future profits or losses.

Cash Flow Balance Sheet Income Statement

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Financial Statement Analysis is much more than just reviewing and examining Worksport latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether Worksport is a good buy for the upcoming year.

Net Income Gross Profit

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worksport. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

To learn how to invest in Worksport Stock, please use our How to Invest in Worksport guide.

About Worksport Income Statement Analysis

Worksport Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to Worksport shareholders. The income statement also shows Worksport investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).

Worksport Income Statement Chart

At this time, Worksport's Depreciation And Amortization is relatively stable compared to the past year. As of 12/26/2024, Selling And Marketing Expenses is likely to grow to about 1.6 M, though EBITDA is likely to grow to (12.5 M).

Selling General Administrative Other Operating Expenses Cost Of Revenue Selling And Marketing Expenses

Other Operating Expenses

Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Worksport. It is also known as Worksport overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.

Cost Of Revenue

Cost of Revenue is found on Worksport income statement and represents the costs associated with goods and services Worksport provides. Indirect cost, such as salaries, is not included. In other words, cost of revenue is the total cost incurred to obtain a sale. It is more than the traditional cost of goods sold, since it includes specific selling and marketing activities.

Most accounts from Worksport's income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into Worksport current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worksport. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

To learn how to invest in Worksport Stock, please use our How to Invest in Worksport guide.At this time, Worksport's Depreciation And Amortization is relatively stable compared to the past year. As of 12/26/2024, Selling And Marketing Expenses is likely to grow to about 1.6 M, though EBITDA is likely to grow to (12.5 M).

	2021	2022	2023	2024 (projected)
Depreciation And Amortization	211.7K	486.6K	1.1M	1.2M
Cost Of Revenue	350.7K	57.0K	1.3M	1.4M

Depreciation And Amortization Cost Of Revenue

Worksport income statement Correlations

	Interest Expense	Selling General Administrative	Other Operating Expenses	Operating Income	Ebit	Ebitda	Total Operating Expenses	Income Before Tax	Total Other Income Expense Net	Net Income	Income Tax Expense	Gross Profit	Cost Of Revenue	Depreciation And Amortization	Selling And Marketing Expenses	Total Revenue	Research Development	Net Interest Income	Net Income From Continuing Ops	Reconciled Depreciation
Interest Expense		0.91	0.91	-0.9	-0.9	-0.9	0.91	-0.91	-0.2	-0.91	0.45	0.47	0.45	0.89	0.83	0.31	0.45	-0.78	-0.91	0.89
Selling General Administrative	0.91		1.0	-0.99	-0.99	-0.99	1.0	-0.99	-0.1	-0.99	0.4	0.55	0.5	0.96	0.9	0.39	0.39	-0.65	-0.97	0.96
Other Operating Expenses	0.91	1.0		-0.99	-0.99	-0.99	1.0	-0.99	-0.09	-0.99	0.39	0.57	0.54	0.95	0.9	0.42	0.41	-0.62	-0.97	0.95
Operating Income	-0.9	-0.99	-0.99		1.0	1.0	-1.0	1.0	0.09	1.0	-0.35	-0.49	-0.44	-0.93	-0.93	-0.33	-0.41	0.65	0.98	-0.93
Ebit	-0.9	-0.99	-0.99	1.0		1.0	-1.0	1.0	0.1	1.0	-0.35	-0.49	-0.45	-0.93	-0.93	-0.33	-0.41	0.64	0.98	-0.93
Ebitda	-0.9	-0.99	-0.99	1.0	1.0		-1.0	1.0	0.09	1.0	-0.34	-0.48	-0.44	-0.92	-0.94	-0.32	-0.42	0.64	0.98	-0.92
Total Operating Expenses	0.91	1.0	1.0	-1.0	-1.0	-1.0		-1.0	-0.09	-1.0	0.36	0.52	0.47	0.94	0.92	0.36	0.39	-0.65	-0.98	0.94
Income Before Tax	-0.91	-0.99	-0.99	1.0	1.0	1.0	-1.0		0.1	1.0	-0.39	-0.48	-0.44	-0.93	-0.93	-0.31	-0.43	0.65	0.98	-0.93
Total Other Income Expense Net	-0.2	-0.1	-0.09	0.09	0.1	0.09	-0.09	0.1		0.11	-0.31	-0.03	-0.03	-0.11	-0.01	0.02	-0.12	0.03	0.14	-0.11
Net Income	-0.91	-0.99	-0.99	1.0	1.0	1.0	-1.0	1.0	0.11		-0.4	-0.48	-0.45	-0.93	-0.92	-0.31	-0.44	0.66	0.98	-0.93
Income Tax Expense	0.45	0.4	0.39	-0.35	-0.35	-0.34	0.36	-0.39	-0.31	-0.4		0.43	0.51	0.51	0.11	0.33	0.52	-0.28	-0.39	0.51
Gross Profit	0.47	0.55	0.57	-0.49	-0.49	-0.48	0.52	-0.48	-0.03	-0.48	0.43		0.9	0.61	0.25	0.81	0.34	-0.11	-0.43	0.61
Cost Of Revenue	0.45	0.5	0.54	-0.44	-0.45	-0.44	0.47	-0.44	-0.03	-0.45	0.51	0.9		0.57	0.21	0.91	0.44	-0.09	-0.4	0.56
Depreciation And Amortization	0.89	0.96	0.95	-0.93	-0.93	-0.92	0.94	-0.93	-0.11	-0.93	0.51	0.61	0.57		0.77	0.53	0.27	-0.66	-0.94	1.0
Selling And Marketing Expenses	0.83	0.9	0.9	-0.93	-0.93	-0.94	0.92	-0.93	-0.01	-0.92	0.11	0.25	0.21	0.77		0.08	0.36	-0.58	-0.92	0.77
Total Revenue	0.31	0.39	0.42	-0.33	-0.33	-0.32	0.36	-0.31	0.02	-0.31	0.33	0.81	0.91	0.53	0.08		0.09	-0.03	-0.29	0.53
Research Development	0.45	0.39	0.41	-0.41	-0.41	-0.42	0.39	-0.43	-0.12	-0.44	0.52	0.34	0.44	0.27	0.36	0.09		-0.14	-0.36	0.26
Net Interest Income	-0.78	-0.65	-0.62	0.65	0.64	0.64	-0.65	0.65	0.03	0.66	-0.28	-0.11	-0.09	-0.66	-0.58	-0.03	-0.14		0.65	-0.66
Net Income From Continuing Ops	-0.91	-0.97	-0.97	0.98	0.98	0.98	-0.98	0.98	0.14	0.98	-0.39	-0.43	-0.4	-0.94	-0.92	-0.29	-0.36	0.65		-0.94
Reconciled Depreciation	0.89	0.96	0.95	-0.93	-0.93	-0.92	0.94	-0.93	-0.11	-0.93	0.51	0.61	0.56	1.0	0.77	0.53	0.26	-0.66	-0.94

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Worksport Account Relationship Matchups

Worksport income statement Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Interest Expense	72.0K	386.2K	294.9K	488.7K	616.2K	647.0K
Selling General Administrative	809.7K	881.6K	6.1M	10.4M	13.5M	14.2M
Other Operating Expenses	2.5M	1.3M	7.9M	12.9M	16.3M	17.1M
Operating Income	(621.3K)	(982.4K)	(7.6M)	(12.8M)	(14.7M)	(14.0M)
Ebit	(621.3K)	(801.4K)	(7.6M)	(12.0M)	(14.3M)	(13.6M)
Ebitda	(609.9K)	(774.4K)	(7.4M)	(11.6M)	(13.2M)	(12.5M)
Total Operating Expenses	859.9K	1.0M	7.5M	12.8M	15.0M	15.7M
Income Before Tax	(414.6K)	(1.2M)	(7.9M)	(12.5M)	(14.9M)	(14.2M)
Total Other Income Expense Net	206.7K	(205.2K)	(335.4K)	249.8K	(192.3K)	(182.7K)
Net Income	(486.6K)	(1.6M)	(8.2M)	(12.2M)	(14.9M)	(14.2M)
Income Tax Expense	72.0K	386.2K	294.9K	(312.8K)	800.8K	840.8K
Gross Profit	238.5K	47.1K	(47.0K)	59.5K	240.5K	252.5K
Cost Of Revenue	1.7M	299.0K	350.7K	57.0K	1.3M	1.4M
Depreciation And Amortization	11.4K	27.0K	211.7K	486.6K	1.1M	1.2M
Selling And Marketing Expenses	50.2K	148.0K	1.4M	2.4M	1.5M	1.6M
Total Revenue	1.9M	346.1K	303.8K	116.5K	1.5M	1.6M
Net Interest Income	(72.0K)	(386.2K)	(291.2K)	(276.4K)	(376.9K)	(358.0K)
Net Income From Continuing Ops	(414.6K)	(1.2M)	(7.9M)	(12.5M)	(14.9M)	(14.2M)
Net Income Applicable To Common Shares	(359.0K)	(1.2M)	(7.9M)	(12.5M)	(11.3M)	(10.7M)
Reconciled Depreciation	11.4K	27.0K	211.7K	486.6K	1.1M	1.2M

Pair Trading with Worksport

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Worksport position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Worksport will appreciate offsetting losses from the drop in the long position's value.

Moving against Worksport Stock

0.72	HOG	Harley Davidson	Pair Corr
0.66	FFIE	Faraday Future Intel	Pair Corr
0.66	FOXF	Fox Factory Holding	Pair Corr
0.61	HMC	Honda Motor	Pair Corr
0.57	LEA	Lear	Pair Corr

The ability to find closely correlated positions to Worksport could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Worksport when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Worksport - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Worksport to buy it.

The correlation of Worksport is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Worksport moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Worksport moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Worksport can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for Worksport Stock Analysis

When running Worksport's price analysis, check to measure Worksport's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Worksport is operating at the current time. Most of Worksport's value examination focuses on studying past and present price action to predict the probability of Worksport's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Worksport's price. Additionally, you may evaluate how the addition of Worksport to your portfolios can decrease your overall portfolio volatility.

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Worksport Historical Income Statement

About Worksport Income Statement Analysis

Worksport Income Statement Chart

Other Operating Expenses

Cost Of Revenue

Worksport income statement Correlations

Worksport Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Worksport income statement Accounts

Pair Trading with Worksport

Moving against Worksport Stock

Additional Tools for Worksport Stock Analysis

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Other Operating Expenses	+ 1.0	Selling General Administrative
Total Operating Expenses	+ 1.0	Selling General Administrative
Total Operating Expenses	+ 1.0	Other Operating Expenses
Ebit	+ 1.0	Operating Income
Ebitda	+ 1.0	Operating Income
Income Before Tax	+ 1.0	Operating Income

Net Income	- 1.0	Total Operating Expenses
Income Before Tax	- 1.0	Total Operating Expenses
Total Operating Expenses	- 1.0	Ebitda
Total Operating Expenses	- 1.0	Ebit
Total Operating Expenses	- 1.0	Operating Income
Net Income	- 0.99	Other Operating Expenses