vs
Side-by-side financial comparison of Maase Inc. (MAAS) and Workhorse Group Inc. (WKHS). Click either name above to swap in a different company.
Workhorse Group Inc. is the larger business by last-quarter revenue ($12.5M vs $9.9M, roughly 1.3× Maase Inc.). Workhorse Group Inc. produced more free cash flow last quarter ($-11.1M vs $-18.3M).
Workhorse Group is an original equipment manufacturer and technology company headquartered in Sharonville, Ohio, USA. In 2025, it merged its operations with those of Motiv Electric Trucks, forming a new entity known as Workhorse.
MAAS vs WKHS — Head-to-Head
Income Statement — Q2 FY2023 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.9M | $12.5M |
| Net Profit | — | $-20.8M |
| Gross Margin | 78.7% | 80.4% |
| Operating Margin | -55.9% | -28.6% |
| Net Margin | — | -166.5% |
| Revenue YoY | — | 432.0% |
| Net Profit YoY | — | -171.8% |
| EPS (diluted) | — | $0.09 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $12.5M | ||
| Q3 25 | — | $2.4M | ||
| Q2 25 | — | $5.7M | ||
| Q1 25 | — | $640.9K | ||
| Q4 24 | — | $2.4M | ||
| Q3 24 | — | $2.5M | ||
| Q2 24 | — | $842.4K | ||
| Q1 24 | — | $1.3M |
| Q4 25 | — | $-20.8M | ||
| Q3 25 | — | $-7.8M | ||
| Q2 25 | — | $-14.8M | ||
| Q1 25 | — | $-20.6M | ||
| Q4 24 | — | $29.0M | ||
| Q3 24 | — | $-25.1M | ||
| Q2 24 | — | $-26.3M | ||
| Q1 24 | — | $-29.2M |
| Q4 25 | — | 80.4% | ||
| Q3 25 | — | -323.2% | ||
| Q2 25 | — | -130.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -164.7% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -28.6% | ||
| Q3 25 | — | -694.2% | ||
| Q2 25 | — | -255.3% | ||
| Q1 25 | — | -2002.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -564.5% | ||
| Q2 24 | — | -2435.6% | ||
| Q1 24 | — | -1771.6% |
| Q4 25 | — | -166.5% | ||
| Q3 25 | — | -328.2% | ||
| Q2 25 | — | -260.7% | ||
| Q1 25 | — | -3221.0% | ||
| Q4 24 | — | 1233.7% | ||
| Q3 24 | — | -1001.5% | ||
| Q2 24 | — | -3124.3% | ||
| Q1 24 | — | -2177.0% |
| Q4 25 | — | $0.09 | ||
| Q3 25 | — | $-0.50 | ||
| Q2 25 | — | $-1.67 | ||
| Q1 25 | — | $-4.68 | ||
| Q4 24 | — | $51.11 | ||
| Q3 24 | — | $-0.98 | ||
| Q2 24 | — | $-17.45 | ||
| Q1 24 | — | $-24.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.9M | $12.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $31.6M | $43.0M |
| Total Assets | $47.0M | $117.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $12.9M | ||
| Q3 25 | — | $12.7M | ||
| Q2 25 | — | $2.2M | ||
| Q1 25 | — | $2.6M | ||
| Q4 24 | — | $6.6M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $5.3M | ||
| Q1 24 | — | $6.7M |
| Q4 25 | — | $43.0M | ||
| Q3 25 | — | $32.1M | ||
| Q2 25 | — | $22.3M | ||
| Q1 25 | — | $31.4M | ||
| Q4 24 | — | $-40.8M | ||
| Q3 24 | — | $47.3M | ||
| Q2 24 | — | $58.6M | ||
| Q1 24 | — | $67.4M |
| Q4 25 | — | $117.9M | ||
| Q3 25 | — | $116.7M | ||
| Q2 25 | — | $99.3M | ||
| Q1 25 | — | $115.5M | ||
| Q4 24 | — | $37.4M | ||
| Q3 24 | — | $101.4M | ||
| Q2 24 | — | $105.4M | ||
| Q1 24 | — | $113.9M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-18.2M | $-10.5M |
| Free Cash FlowOCF − Capex | $-18.3M | $-11.1M |
| FCF MarginFCF / Revenue | -184.4% | -89.0% |
| Capex IntensityCapex / Revenue | 1.0% | 4.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-10.5M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-8.2M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-12.1M | ||
| Q1 24 | — | $-18.0M |
| Q4 25 | — | $-11.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-8.2M | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-12.8M | ||
| Q1 24 | — | $-21.0M |
| Q4 25 | — | -89.0% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -1275.0% | ||
| Q4 24 | — | 52.2% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1523.4% | ||
| Q1 24 | — | -1567.2% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 31.2% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 87.1% | ||
| Q1 24 | — | 225.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MAAS
| Wealth management | $7.8M | 78% |
| Insurance consulting | $1.0M | 10% |
| Other | $975.0K | 10% |
| Asset management | $168.0K | 2% |
WKHS
Segment breakdown not available.
