A Business at a Glance
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We are an integrated solar and renewable energy company. A solar energy system retains the direct current (DC) electricity from the sun and converts it to alternating current (AC) electricity that can be used to power residential homes and commercial businesses. The solar business is based on the ability of the users of solar energy systems to save on energy costs and reduce their carbon imprint as compared with power purchased from the local electricity utility company. We were founded in 2008 to engage in the solar business in the United States, where our business is primarily conducted. Our primary business consists of the sale and installation of photovoltaic and battery backup systems for residential and commercial customers sales of LED systems and services to government and commercial users. We also generate revenue from financing the sale of our photovoltaic and battery backup systems.
| Metric | TTM | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 51M | 23M | 54M | 45M |
| Net Income | -9.4M | -35M | 435K | -6.9M |
| EPS | $-0.19 | $-0.79 | $0.01 | $-0.17 |
| Free Cash Flow | 0 | -9.1M | 4.1M | -2.1M |
| ROIC | -9.2% | -67.7% | 1.2% | -10.2% |
| Gross Margin | 7.7% | 10.1% | 20.6% | 16.7% |
| Debt/Equity | 0.00 | -0.46 | -0.44 | -0.82 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | -6.8M | -33M | 484K | -8.0M |
| Operating Margin | -13.4% | -144.0% | 0.9% | -17.8% |
| ROE | 0.0% | - | - | - |
| Shares Outstanding | 54M | 44M | 43M | 40M |
| Metric | 2022 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 45M | 54M | 23M | 51M |
| Gross Margin | 16.7% | 20.6% | 10.1% | 7.7% |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | -8.0M | 484K | -33M | -6.8M |
| Op. Margin | -17.8% | 0.9% | -144.0% | -13.4% |
| Net Income | -6.9M | 435K | -35M | -9.4M |
| Net Margin | -15.4% | 0.8% | -152.1% | -18.4% |
| Non-Recurring | 0 | 0 | 7.5M | 7.5M |
| Returns on Capital | ||||
| ROIC | -10.2% | 1.2% | -67.7% | -9.2% |
| ROE | N/A | N/A | N/A | 0.0% |
| ROA | -11.2% | 0.9% | -80.1% | -15.9% |
| Cash Flow | ||||
| Op. Cash Flow | -2.0M | 4.1M | -9.1M | 1.7M |
| Free Cash Flow | -2.1M | 4.1M | -9.1M | 0 |
| Owner Earnings | -2.2M | 3.9M | -28M | -17M |
| CapEx | 83K | 28K | 0 | 0 |
| Maint. CapEx | 278K | 181K | 82K | 82K |
| Growth CapEx | 0 | 0 | N/A | 0 |
| D&A | 278K | 181K | 82K | 82K |
| CapEx/OCF | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | 0 | 19M | 19M |
| Debt Repayment | 68K | 33K | 0 | 0 |
| Balance Sheet | ||||
| Net Debt | 9.5M | 4.5M | -124K | -720K |
| Cash & Equiv. | N/A | N/A | N/A | 5.7M |
| Long-Term Debt | 13M | 7.0M | 7.0M | 7.0M |
| Debt/Equity | -0.82 | -0.44 | -0.46 | 0.00 |
| Interest Coverage | -4.4 | 0.3 | -21.1 | -21.1 |
| Equity | -16M | -16M | -15M | -12M |
| Total Assets | 61M | 49M | 39M | 59M |
| Total Liabilities | 78M | 65M | 54M | 13M |
| Intangibles | 7.8M | 7.6M | N/A | N/A |
| Retained Earnings | -69M | -69M | -104M | -104M |
| Working Capital | -17M | -23M | -14M | -14M |
| Current Assets | 29M | 20M | 21M | 21M |
| Current Liabilities | 47M | 43M | 35M | 35M |
| Per Share Data | ||||
| EPS | -0.17 | 0.01 | -0.79 | -0.19 |
| Owner EPS | -0.06 | 0.09 | -0.63 | -0.31 |
| Book Value | -0.40 | -0.37 | -0.34 | -0.22 |
| Cash Flow/Share | -0.05 | 0.09 | -0.21 | -0.17 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 40.4M | 43.5M | 44.3M | 54.3M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | -3.2 |
| P/FCF | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | 8.8 | 0.6 |
| FCF Yield | N/A | N/A | -13.5% | N/A |
| Market Cap | N/A | N/A | 68M | 33M |
| Avg. Price | N/A | N/A | 4.59 | 0.60 |
| Year-End Price | N/A | N/A | 1.53 | 0.60 |
SolarMax Technology, Inc. passes 0 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 15.8%.
SolarMax Technology, Inc. (SMXT) has a 5-year average return on invested capital (ROIC) of -25.6%. This is below average and may indicate limited pricing power.
SolarMax Technology, Inc. (SMXT) has a market capitalization of $33M. It is classified as a small-cap stock.
SolarMax Technology, Inc. (SMXT) does not currently pay a regular dividend.
SolarMax Technology, Inc. (SMXT) operates in the Construction - Special Trade Contractors industry, within the Industrials sector.
SolarMax Technology, Inc. (SMXT) reported annual revenue of $23 million in its most recent fiscal year, based on SEC EDGAR filings.
SolarMax Technology, Inc. (SMXT) has a net profit margin of -152.1%. The company is currently unprofitable.
SolarMax Technology, Inc. (SMXT) generated $-9 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
SolarMax Technology, Inc. (SMXT) reported earnings per share (EPS) of $-0.79 in its most recent fiscal year.
SolarMax Technology, Inc. (SMXT) has a 5-year average gross margin of 15.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 3 years of financial data for SolarMax Technology, Inc. (SMXT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SolarMax Technology, Inc. (SMXT) has a book value per share of $-0.34, based on its most recent annual SEC filing.