Critical Review: Canoo (GOEV) vs. The Competition

Canoo (NYSE: GOEV) is one of 66 public companies in the “Motor vehicle parts & accessories” industry, but how does it weigh in compared to its peers? We will compare Canoo to similar companies based on the strength of its valuation, earnings, profitability, risk, analyst recommendations, institutional ownership and dividends.

Profitability

This table compares Canoo and its peers’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Canoo N/A -40.90% -23.35%
Canoo Competitors -12.28% 5.55% 1.63%

Earnings & Valuation

This table compares Canoo and its peers gross revenue, earnings per share and valuation.

Gross Revenue Net Income Price/Earnings Ratio
Canoo $2.55 million -$89.81 million -7.02
Canoo Competitors $4.89 billion -$64.28 million -60.01

Canoo’s peers have higher revenue and earnings than Canoo. Canoo is trading at a higher price-to-earnings ratio than its peers, indicating that it is currently more expensive than other companies in its industry.

Volatility & Risk

Canoo has a beta of 0.24, suggesting that its share price is 76% less volatile than the S&P 500. Comparatively, Canoo’s peers have a beta of 1.89, suggesting that their average share price is 89% more volatile than the S&P 500.

Analyst Ratings

This is a summary of recent ratings and price targets for Canoo and its peers, as provided by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Canoo 1 1 1 0 2.00
Canoo Competitors 577 2315 2738 75 2.41

Canoo presently has a consensus target price of $12.00, indicating a potential upside of 22.95%. As a group, “Motor vehicle parts & accessories” companies have a potential downside of 1.85%. Given Canoo’s higher probable upside, research analysts plainly believe Canoo is more favorable than its peers.

Insider & Institutional Ownership

9.5% of Canoo shares are held by institutional investors. Comparatively, 60.7% of shares of all “Motor vehicle parts & accessories” companies are held by institutional investors. 5.4% of Canoo shares are held by insiders. Comparatively, 13.1% of shares of all “Motor vehicle parts & accessories” companies are held by insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a stock is poised for long-term growth.

Summary

Canoo peers beat Canoo on 10 of the 13 factors compared.

Canoo Company Profile

Canoo Inc., a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers B2B delivery vehicles, multi-purpose delivery vehicles, and lifestyle vehicles using skateboard architecture technology. It intends to serve small businesses, independent contractors, service technicians, retailers, corporations, logistics companies, fleet managers, and others. The company was incorporated in 2017 and is headquartered in Torrance, California.

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