Event-Driven Stocks

Nikola Corp

Consumer Discretionary · Motor Vehicles & Passenger Car Bodies · DE · SEC filings ↗ · Compare ⊕

Signs● 1 good● 2 warning● 2 severedetails ↓

Financials

SEC XBRL · annual
 FY24FY23FY22FY21FY20FY19
Revenue——$50.8M$0$95,000$482,000
Operating income−$916.5M−$649.8M−$702.6M−$693.5M−$382.7M−$88.0M
Net income−$958.2M−$966.3M−$784.2M−$690.4M−$370.9M−$88.7M
Total assets$596.2M$1.27B$1.24B$989.8M$1.05B$229.4M
Total liabilities$488.8M$555.7M$710.2M$296.2M$73.6M$33.9M
Equity$107.4M$719.2M$526.5M$693.6M$980.1M$195.5M
EPS (diluted)$-17.56$-36.23$-1.78$-1.74$-1.18$-0.40
Shares out.1.34B554.4M413.8M391.9M29.6M29.6M

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2024
Operating margin
—
Net margin
—
Return on equity
−892.0%
Return on assets
−160.7%
Return on capital (ROCE)
−261.3%
Liabilities / assets
82.0%
Debt / equity
4.55×
Book value / share
$0.08
Revenue growth (YoY)
—
Net income growth (YoY)
—

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2024
Altman Z″ (distress)
-31.92distress
Accruals / assets
−73.3%clean
Piotroski F-Score
1/7weak

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
38
/ 100
Profitability 0Growth n/aCatalyst 33Earnings quality 67Financial strength 50

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.

Signs

● 2 severe● 2 warning● 1 good
  • Altman Z″ in the distress zone
  • Filed a late-filing notice (Form NT) — missed an SEC deadline
  • High leverage (liabilities > 70% of assets)
  • Negative operating cash flow
  • Clean earnings (low accruals)

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

Risk flags

late SEC filings

A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.

5%+ owners

SEC Schedule 13D / 13G · last 3 yrs

Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (2)