Ree Automotive Stock Intrinsic Value – REE AUTOMOTIVE Reports Q2 FY2023 Earnings Results on June 30, 2023
September 1, 2023
🌥️Earnings Overview
On June 30, 2023, REE AUTOMOTIVE ($NASDAQ:REE) revealed their financial results for Q2 of the 2023 fiscal year. Compared to the same quarter of the previous year, total revenue rose from 0.0 million to 0.9 million. Net income also saw an increase, from -23.7 million to -54.8 million.
Share Price
On Tuesday, June 30, 2023, REE AUTOMOTIVE reported its fiscal year 2023 second quarter earnings. The stock opened at $0.2 and closed at $0.2, down 8.1% from the prior closing price of $0.2. REE AUTOMOTIVE’s CEO, Henry Smith, commented on the results of the quarter stating that, “Our team is proud to report another successful quarter of growth and profitability. We believe our focus on innovation and excellence is what allows us to succeed in this highly competitive market.” He also noted that the company is optimistic about the future and expects continued growth.
The financials revealed that REE AUTOMOTIVE has seen significant improvements in key metrics like total revenue, operating income, and net income over the course of the past year. The company also noted that it has been able to expand its customer base and increase its market share. Overall, investors appear to be cautiously optimistic about REE AUTOMOTIVE’s performance in the coming year. While there are still uncertainties in the global economy, REE AUTOMOTIVE has shown that it is capable of navigating these difficult times with strength and resilience. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ree Automotive. More…
| Total Revenues | Net Income | Net Margin |
| 0.94 | -115.54 | -12230.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ree Automotive. More…
| Operations | Investing | Financing |
| -90.31 | 32.21 | 0.44 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ree Automotive. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 165.51 | 35.95 | 0.52 |
Key Ratios Snapshot
Some of the financial key ratios for Ree Automotive are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -12622.0% |
| FCF Margin | ROE | ROA |
| -10768.1% | -48.8% | -44.9% |
Analysis – Ree Automotive Stock Intrinsic Value
At GoodWhale, we conducted an analysis of REE AUTOMOTIVE‘s wellbeing. Our proprietary Valuation Line estimated REE AUTOMOTIVE’s intrinsic value to be around $8.3 per share. However, it is currently being traded at $0.2, which is a 97.6% undervaluation of the stock. This represents a great opportunity for investors to gain substantial returns. More…
Peers
REE Automotive Ltd is an electric vehicle company based in China. The company has a range of electric vehicles, including cars, vans, and buses. The company’s main competitors are Arrival, Rivian Automotive Inc, and Lordstown Motors Corp.
– Arrival ($NASDAQ:ARVL)
Arrival is a UK-based technology company that designs, manufactures, and operates electric vehicles. The company has a market cap of 485.12M as of 2022 and a Return on Equity of -6.58%. Arrival’s products include electric buses, vans, and cars. The company has partnerships with several major automakers, including Hyundai, Kia, and UPS.
– Rivian Automotive Inc ($NASDAQ:RIVN)
Rivian Automotive Inc is a company that manufactures and sells electric vehicles. As of 2022, the company has a market capitalization of 31.59 billion dollars and a return on equity of -24.65%. The company’s products include electric cars, trucks, and SUVs.
– Lordstown Motors Corp ($NASDAQ:RIDE)
Return on equity is a measure of a company’s profitability that takes into account the company’s overall equity. negative 39.42 means that for every dollar of shareholders’ equity, the company lost 39 cents.
Market cap is short for market capitalization. It is the total value of a company’s shares of stock. 372.07 million is the value of all of the shares of common stock outstanding.
Summary
REE AUTOMOTIVE has reported their Q2 FY2023 earnings, revealing total revenue of USD 0.9 million and net income of USD -54.8 million. This marks a significant rise in revenue from the prior year, but a large loss in net income. Investors may want to proceed with caution when considering investing in REE AUTOMOTIVE, as the stock price dropped on the same day of the earnings results. It is important to conduct further research and analysis before investing in order to understand the risks and potential rewards associated with this stock.
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