QS
QuantumScape Corporation

QuantumScape CorporationQS

Consumer Cyclical · Auto Parts
4.91USD
-2.77%
Sep 24, 2026
QS overview ready
Pre-commercial Developer Advancing Solid-State Lithium-Metal Batteries for EVs
Pre-commercial pure-play developer of solid-state lithium-metal battery technology for EV applications.
Narrative is still early
Exposed to the Next-Generation Battery Commercialization narrative through Automotive Solid-State Battery Development and Industrialization — pure play.
Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Valuation not measured
Fundamentals under pressure
Free cash flow yield is weak.
Primary risk
Technology commercialization risk.
Market Sep 23Price action Sep 23Research Jul 17

Conviction Level

Theme Heat has no canonical measurement for this company — a research-profile dimension, not an input to this score.

NarrativeHeat4.6ThemeHeat—PriceAction1.4Valuation0.9CompanyPosition7.3
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$3.0B
Avg Volume (60D)
16.7M
60 sessions
Gross Margin
+0.0%
Trailing twelve months
Operating Margin
+0.0%
Trailing twelve months
Free Cash Flow Yield
-4.8%
Distance from 200DMA
-35.3%
Next Earnings
2026-10-21
P/E
N/M
Market metrics as of Sep 23, 2026

Fundamentals & Valuation

Both valuation perspectives agree this company is expensive.
QuantumScape Corporation has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces.

Company Research

Thesis
Pre-commercial pure-play developer of solid-state lithium-metal battery technology for EV applications. The story is still emerging, so the exposure is real but early. QS has a real and specific exposure to the emerging solid-state EV-battery commercialization cycle, rather than a generic electrification adjacency.
Opportunity
Moderate opportunity
Automaker and battery-industry efforts to commercialize higher-energy-density, safer battery architectures that can improve electric-vehicle range, charging performance, and pack efficiency beyond conventional lithium-ion designs.
Key risk
Technology commercialization risk.

Narrative & Theme

Next-Generation Battery Commercialization
Part of Automotive Solid-State Battery Development and Industrialization, with moderate fit.
QS has a real and specific exposure to the emerging solid-state EV-battery commercialization cycle, rather than a generic electrification adjacency.
Narrative HeatNeutral4.6 / 10
Theme HeatUnavailable

Business & Markets

Consumer Cyclical · Auto Parts
What they do

QuantumScape develops solid-state lithium-metal battery technology primarily for electric vehicles and other applications, operating through research, development, and potential commercialization of its battery products.

How it earns

Revenue generation method is unknown as the company is primarily focused on technology development and has no reported sales.

Products & services
Solid-state lithium-metal batteries
Customers & end markets
Electric vehicle manufacturers
Other battery application markets
Market position

Niche player focused on developing next-generation solid-state battery technology within the auto parts industry.

Demand drivers
High cyclicality

Dependent on automotive industry demand and electric vehicle adoption cycles.