| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 28.83 | 855 |
| Intrinsic value (DCF) | 55.24 | 1729 |
| Graham-Dodd Method | n/a | |
| Graham Formula | n/a |
EVgo, Inc. (NASDAQ: EVGO) is a leading operator of direct current (DC) fast charging networks in the United States, specializing in electric vehicle (EV) infrastructure. Headquartered in Los Angeles, California, EVgo provides public charging solutions for individual EV drivers, fleets, and rideshare services, along with value-added services like digital app customization, charging data integration, and loyalty programs. The company also offers EV charging as a service (CaaS) and fleet-dedicated charging solutions, positioning itself as a key player in the rapidly expanding EV ecosystem. Operating in the Specialty Retail sector under Consumer Cyclical, EVgo capitalizes on the growing demand for sustainable transportation. With a nationwide network of fast chargers, EVgo supports the transition to electric mobility, catering to both consumer and commercial markets. Its eXtend™ platform further enhances its offerings with installation, networking, and operational services, making EVgo a comprehensive provider in the EV charging space.
EVgo presents a high-risk, high-reward investment opportunity in the burgeoning EV charging sector. With a market cap of ~$1.18B and a beta of 2.276, the stock is highly volatile, reflecting both growth potential and operational challenges. Revenue growth is evident ($256.8M in latest filings), but profitability remains elusive (net income of -$131.3M, EPS -$1.24). Operating cash flow (-$7.3M) and significant capital expenditures (-$94.8M) highlight aggressive expansion efforts. The company’s strategic positioning in fast-charging infrastructure aligns with federal and state EV adoption incentives, but competition is intensifying. Investors should weigh EVgo’s first-mover advantage against its cash burn and the capital-intensive nature of the industry.
EVgo’s competitive advantage lies in its extensive DC fast-charging network, one of the largest in the U.S., and its focus on public and fleet-oriented solutions. Unlike competitors that rely on slower Level 2 chargers, EVgo’s fast-charging stations cater to drivers seeking quick turnaround times, a critical factor for commercial fleets and rideshare operators. The company’s partnerships with automakers and eXtend™ services provide additional revenue streams and customer stickiness. However, EVgo faces stiff competition from ChargePoint (CHPT) and Tesla’s Supercharger network, which boasts superior coverage and brand loyalty. Blink Charging (BLNK) and Electrify America (private) also compete aggressively in public charging. EVgo’s asset-light model (owning and operating chargers directly) differentiates it from peers like ChargePoint, which relies on a dealer network, but scaling requires heavy capex. The lack of profitability and reliance on government subsidies are key risks. EVgo’s ability to secure strategic partnerships (e.g., GM, Uber) and expand high-utilization sites will determine its long-term positioning.