Pioneer Power Solutions (PPSI)
Market Price (10/5/2026): $3.27 | Market Cap: $36.3 MilSector: Industrials | Industry: Electrical Components & Equipment
Pioneer Power Solutions (PPSI)
Market Price (10/5/2026): $3.27Market Cap: $36.3 MilSector: IndustrialsIndustry: Electrical Components & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -25% Megatrend and thematic driversMegatrends include Electric Vehicles & Autonomous Driving, and Smart Grids & Grid Modernization. Themes include EV Charging Infrastructure, Grid Automation, Show more. | Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -111% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -6.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -30% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -30%, Rev Chg QQuarterly Revenue Change % is -40% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -35% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -26% Key risksPPSI key risks include [1] its ongoing unprofitability and challenges converting backlog into revenue, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -25% |
| Megatrend and thematic driversMegatrends include Electric Vehicles & Autonomous Driving, and Smart Grids & Grid Modernization. Themes include EV Charging Infrastructure, Grid Automation, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -111% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -6.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -30% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -30%, Rev Chg QQuarterly Revenue Change % is -40% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -35% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -26% |
| Key risksPPSI key risks include [1] its ongoing unprofitability and challenges converting backlog into revenue, Show more. |
Qualitative Assessment
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Pioneer Power Solutions (PPSI) stock has lost about 15% since 6/30/2026 because of the following key factors:
1. Disappointing Fiscal Q2 2026 Earnings Report. Pioneer Power Solutions reported its fiscal Q2 2026 earnings on August 13, 2026, posting an earnings per share (EPS) of -$0.19. This significantly missed analysts' expectations of -$0.14 by 35.71%. The company also saw its net loss widen to $2.1 million, a substantial increase from a $0.11 loss in the comparable prior year quarter.
2. Significant Year-over-Year Revenue Decline. Despite slightly exceeding revenue estimates for fiscal Q2 2026 with $5.02 million, the reported revenue represented a substantial 40% decrease compared to $8.4 million in fiscal Q2 2025. This year-over-year decline in top-line performance likely fueled investor concerns regarding the company's growth trajectory.
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Pioneer Power Solutions (PPSI) stock has lost about 15% since 6/30/2026 because of the following key factors:
1. Disappointing Fiscal Q2 2026 Earnings Report. Pioneer Power Solutions reported its fiscal Q2 2026 earnings on August 13, 2026, posting an earnings per share (EPS) of -$0.19. This significantly missed analysts' expectations of -$0.14 by 35.71%. The company also saw its net loss widen to $2.1 million, a substantial increase from a $0.11 loss in the comparable prior year quarter.
2. Significant Year-over-Year Revenue Decline. Despite slightly exceeding revenue estimates for fiscal Q2 2026 with $5.02 million, the reported revenue represented a substantial 40% decrease compared to $8.4 million in fiscal Q2 2025. This year-over-year decline in top-line performance likely fueled investor concerns regarding the company's growth trajectory.
3. Widening Operating Losses and Increased Cash Burn. Pioneer Power Solutions experienced a widening operating loss from continuing operations, reaching $2.0 million in fiscal Q2 2026. Furthermore, the company's cash burn increased by 52% in the last fiscal year, raising concerns about its financial runway.
4. Analyst Downgrades and Extended Path to Profitability. Following the Q2 2026 results, analysts from HC Wainwright lowered their fiscal Q3 2026 EPS estimates for PPSI from -$0.04 to -$0.13. The broader analyst consensus projects that the company will continue to incur losses through fiscal 2027 and is not expected to achieve profitability until fiscal 2028, necessitating an "extremely buoyant" average annual growth rate of 72% to reach this breakeven point.
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Stock Movement Drivers
Fundamental Drivers
The -16.0% change in PPSI stock from 6/30/2026 to 10/4/2026 was primarily driven by a -13.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 6302026 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.94 | 3.31 | -16.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 25 | 22 | -13.3% |
| P/S Multiple | 1.7 | 1.7 | -3.1% |
| Shares Outstanding (Mil) | 11 | 11 | 0.0% |
| Cumulative Contribution | -16.0% |
Market Drivers
6/30/2026 to 10/4/2026| Return | Correlation | |
|---|---|---|
| PPSI | -16.0% | |
| Market (SPY) | 3.1% | 42.7% |
| Sector (XLI) | -8.2% | 26.4% |
Fundamental Drivers
The 1.8% change in PPSI stock from 3/31/2026 to 10/4/2026 was primarily driven by a 48.3% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.25 | 3.31 | 1.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 32 | 22 | -31.3% |
| P/S Multiple | 1.1 | 1.7 | 48.3% |
| Shares Outstanding (Mil) | 11 | 11 | 0.0% |
| Cumulative Contribution | 1.8% |
Market Drivers
3/31/2026 to 10/4/2026| Return | Correlation | |
|---|---|---|
| PPSI | 1.8% | |
| Market (SPY) | 18.6% | 35.7% |
| Sector (XLI) | 5.3% | 25.0% |
Fundamental Drivers
The -23.4% change in PPSI stock from 9/30/2025 to 10/4/2026 was primarily driven by a -30.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302025 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.32 | 3.31 | -23.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 31 | 22 | -30.3% |
| P/S Multiple | 1.5 | 1.7 | 9.8% |
| Shares Outstanding (Mil) | 11 | 11 | 0.1% |
| Cumulative Contribution | -23.4% |
Market Drivers
9/30/2025 to 10/4/2026| Return | Correlation | |
|---|---|---|
| PPSI | -23.4% | |
| Market (SPY) | 16.5% | 39.3% |
| Sector (XLI) | 11.2% | 33.2% |
Fundamental Drivers
The -29.9% change in PPSI stock from 9/30/2023 to 10/4/2026 was primarily driven by a -40.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302023 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.72 | 3.31 | -29.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 36 | 22 | -40.3% |
| P/S Multiple | 1.3 | 1.7 | 31.3% |
| Shares Outstanding (Mil) | 10 | 11 | -10.7% |
| Cumulative Contribution | -29.9% |
Market Drivers
9/30/2023 to 10/4/2026| Return | Correlation | |
|---|---|---|
| PPSI | -29.9% | |
| Market (SPY) | 86.2% | 31.9% |
| Sector (XLI) | 74.3% | 28.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PPSI Return | 99% | -64% | 153% | -19% | 15% | -31% | 15% |
| Peers Return | 37% | -16% | 106% | 89% | 33% | 44% | 760% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| PPSI Win Rate | 42% | 33% | 58% | 50% | 58% | 44% | |
| Peers Win Rate | 58% | 38% | 60% | 71% | 56% | 61% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| PPSI Max Drawdown | -66% | -73% | -48% | -50% | -47% | -55% | |
| Peers Max Drawdown | -26% | -44% | -30% | -30% | -46% | -42% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: POWL, FPS, RFIL, ETN, VRT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/2/2026 (YTD)
How Low Can It Go
| Event | PPSI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -44.4% | -18.8% |
| % Gain to Breakeven | 79.8% | 23.1% |
| Time to Breakeven | 129 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.8% | -7.8% |
| % Gain to Breakeven | 13.4% | 8.5% |
| Time to Breakeven | 39 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -31.6% | -9.5% |
| % Gain to Breakeven | 46.3% | 10.5% |
| Time to Breakeven | 943 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -11.0% | -6.7% |
| % Gain to Breakeven | 12.4% | 7.1% |
| Time to Breakeven | 9 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -66.3% | -24.5% |
| % Gain to Breakeven | 196.4% | 32.4% |
| Time to Breakeven | 246 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -52.2% | -33.7% |
| % Gain to Breakeven | 109.3% | 50.9% |
| Time to Breakeven | 141 days | 140 days |
In The Past
Pioneer Power Solutions's stock fell -44.4% during the 2025 US Tariff Shock. Such a loss loss requires a 79.8% gain to breakeven.
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| Event | PPSI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -44.4% | -18.8% |
| % Gain to Breakeven | 79.8% | 23.1% |
| Time to Breakeven | 129 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -31.6% | -9.5% |
| % Gain to Breakeven | 46.3% | 10.5% |
| Time to Breakeven | 943 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -66.3% | -24.5% |
| % Gain to Breakeven | 196.4% | 32.4% |
| Time to Breakeven | 246 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -52.2% | -33.7% |
| % Gain to Breakeven | 109.3% | 50.9% |
| Time to Breakeven | 141 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -53.0% | -12.2% |
| % Gain to Breakeven | 113.0% | 13.9% |
| Time to Breakeven | 320 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -62.4% | -6.8% |
| % Gain to Breakeven | 165.6% | 7.3% |
| Time to Breakeven | 357 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -37.5% | -17.9% |
| % Gain to Breakeven | 60.0% | 21.8% |
| Time to Breakeven | 83 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -34.2% | -15.4% |
| % Gain to Breakeven | 52.0% | 18.2% |
| Time to Breakeven | 15 days | 125 days |
In The Past
Pioneer Power Solutions's stock fell -44.4% during the 2025 US Tariff Shock. Such a loss loss requires a 79.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Pioneer Power Solutions (PPSI)
Pioneer Power Solutions (PPSI) is a company that specializes in designing, manufacturing, selling, and servicing a comprehensive range of electric power systems and related solutions. Their core business revolves around helping customers effectively protect, control, transfer, monitor, and manage their electric energy requirements. This includes both foundational power infrastructure and advanced solutions for specific energy needs.
The company operates through two primary segments. The Transmission & Distribution Solutions segment provides electric power systems such as e-Bloc, distributed energy resources, low voltage switchgears, and transfer switches, all aimed at optimizing electrical energy management. Concurrently, the Critical Power Solutions segment focuses on ensuring uninterrupted power, offering new and used power generation equipment alongside crucial aftermarket field-services for emergency situations. Pioneer Power Solutions also addresses modern energy demands with its mobile EV charging solutions.
PPSI serves a broad spectrum of clients, primarily targeting the utility, industrial, commercial, and backup power markets. Their offerings are essential for organizations that require reliable power infrastructure, robust emergency power capabilities, and efficient energy management to maintain continuous and secure operations.
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- A smaller, specialized **Eaton** or **Schneider Electric** focused on custom power systems, distributed energy, and mobile EV charging.
- Like **Generac** for large industrial and utility backup power, combined with broader electrical infrastructure solutions.
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- Electric Power Systems: Systems designed to protect, control, transfer, monitor, and manage electric energy.
- Distributed Energy Resources (DER): Solutions that help customers effectively and efficiently manage their electric energy requirements.
- e-Bloc: A specific type of electric power system product offered by the company.
- Low Voltage Switchgears: Electrical devices used to control, protect, and isolate electrical equipment in power systems.
- Transfer Switches: Devices that automatically or manually switch electrical loads between two power sources, such as utility power and a backup generator.
- New and Used Power Generation Equipment: Equipment for generating electricity, offered in both new and pre-owned conditions.
- Mobile EV Charging Solutions: Portable systems designed to provide charging capabilities for electric vehicles.
- Aftermarket Field Services: Maintenance, repair, and support services provided for power generation equipment to ensure uninterrupted operation.
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Major Customers of Pioneer Power Solutions (PPSI)
Pioneer Power Solutions (PPSI) primarily sells its products and services to other companies and organizations rather than individual consumers. Based on the provided background information, the company serves the following major customer categories:
- Utility Market: This includes companies involved in the generation, transmission, and distribution of electric power.
- Industrial Market: Businesses within various industrial sectors that require specialized electric power systems and distributed energy resources for their operations.
- Commercial Market: Commercial enterprises and organizations seeking solutions for protecting, controlling, monitoring, and managing their electrical energy requirements, including those for backup power.
The background information does not provide the names of specific customer companies or their public symbols.
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Nathan J. Mazurek, Chairman, President, and Chief Executive Officer
Mr. Mazurek has served as the Chief Executive Officer, President, and Chairman of the Board of Directors of Pioneer Power Solutions, Inc. since December 2, 2009. He also briefly held the roles of Chief Financial Officer, Secretary, and Treasurer from December 2, 2009, to August 12, 2010. With over 25 years of experience in the electrical equipment and components industry, Mr. Mazurek has a significant history of leadership. Prior to his current role, he served as Chief Executive Officer, President, Vice President of Sales and Marketing, and Chairman of the Board of Directors for Pioneer Transformers Ltd. since 1995. He has been the President of American Circuit Breaker Corp., a former manufacturer and distributor of circuit breakers, since 1988. Additionally, Mr. Mazurek was a director of Empire Resources, Inc. from 1999 to 2017, and served as President of Aerovox, Inc. from 2002 to 2007. His past leadership roles also include Chairman, President, and Chief Executive Officer of Titan Energy Worldwide, Inc. and Sierra Concepts, Inc. In 2024, he received a $2.0 million discretionary bonus for leading the divestiture of the Electrical Infrastructure Equipment segment. He holds a BA from Yeshiva College (1983) and a JD from Georgetown University Law Center (1986).
Walter Michalec, Chief Financial Officer, Treasurer, and Secretary
Mr. Michalec holds the positions of Chief Financial Officer, Treasurer, and Secretary for Pioneer Power Solutions, Inc. He has served in various capacities within the company, most recently as its Corporate Controller since August 2019. Before becoming Corporate Controller, he was the company's Operations Controller from March 2016 to August 2019 and a Senior Accountant from May 2012 to February 2016. Prior to joining Pioneer Power Solutions, Mr. Michalec worked as a public accountant for Mendonca & Partners Certified Public Accountants, LLC. He earned his Bachelor of Science in Accounting and a Minor in Criminal Justice from Kean University in 2011.
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Key Risks to Pioneer Power Solutions (PPSI)
Pioneer Power Solutions, Inc. (PPSI) faces several key risks that could impact its business operations, financial performance, and growth trajectory. These risks are particularly pertinent given the company's focus on electric power systems, distributed energy resources, and mobile EV charging solutions.
- Supply Chain and Raw Material Price Volatility: The company is highly susceptible to unanticipated increases in raw material prices and disruptions in its supply chain. For instance, rising copper prices have led to significant gross margin compression, impacting profitability. Such volatility can directly increase production costs and adversely affect the company's financial health and its ability to maintain consistent operating margins.
- Dependence on Key Customers: Pioneer Power Solutions relies on a limited number of customers for a substantial portion of its business. Specifically, the company has noted its dependence on two customers for a large portion of its revenue. This customer concentration creates a significant risk, as the loss of one or both of these key customers could lead to a material adverse effect on the company's revenues and overall financial stability.
- Intense Competition and Market Acceptance: Operating in the electrical equipment and power solutions industry means Pioneer Power Solutions faces significant competition from numerous well-established companies that often possess greater resources. This competitive landscape can make it challenging for PPSI to attract and retain customers, as well as to ensure market acceptance for its existing and new product offerings, including its rapidly evolving mobile EV charging solutions.
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- Low Voltage Switchgear: The North America low voltage switchgear market was valued at USD 14 billion in 2024 and is estimated to reach USD 25.7 billion by 2034. The U.S. market alone accounted for 85.4% of the North American low voltage switchgear market in 2024. Globally, over 76 million low voltage switchgear units were deployed in 2024.
- Transfer Switches: The global automatic transfer switch market was valued at USD 881.4 million in 2024 and is expected to reach approximately USD 1.4 billion by 2034. The U.S. automatic transfer switch market is projected to exceed USD 279 million by 2034. North America is the largest market for transfer switches, holding approximately 40% of the global share.
- Distributed Energy Resources (DER): The U.S. distributed energy generation market generated a revenue of USD 31,566.3 million in 2019 and is expected to reach USD 72,019.9 million by 2027. The global distributed energy resources (DER) technology market size accounted for USD 86.95 billion in 2024 and is predicted to increase to approximately USD 293.59 billion by 2034. The U.S. distributed energy resource management system (DERMS) market size was valued at USD 112.67 million in 2022 and is projected to grow at a CAGR of 18.69% during the forecast period. The Distributed Energy Resource Management System Market size in the United States was estimated at USD 71.4 million in 2024 and is projected to grow to USD 338.33 million by 2035.
- Power Generation Equipment (new and used): The industrial power generation equipment market was estimated at USD 75.9 billion in 2024 globally and is expected to grow to USD 125.8 billion by 2034. In 2024, the U.S. industrial power generation equipment market generated approximately USD 16.5 billion in revenue. The global power generation equipment market size was valued at USD 115.70 billion in 2023 and is projected to reach USD 177.80 billion by 2032. The Power generation market in the U.S. is projected to grow significantly, reaching an estimated value of USD 307.89 billion by 2032.
- Mobile EV Charging Solutions: The global portable EV charger market size is expected to be valued at USD 63.2 million in 2025 and is projected to reach USD 388.9 million by 2035. The global Level 2 portable electric vehicle (EV) charger market size was valued at USD 1.41 billion in 2024 and is estimated to grow to USD 5.73 billion by 2033. The U.S. electric vehicle charging equipment market size is estimated at USD 2.25 billion in 2025 and is expected to reach USD 3.60 billion by 2030.
- Aftermarket Field-Services: The U.S. electrical services market, which includes maintenance and repair, was valued at USD 163.9 billion in 2024 and is expected to reach USD 294.6 billion by 2034.
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Pioneer Power Solutions (PPSI) is expected to drive future revenue growth over the next 2-3 years through several key initiatives within its Critical Power Solutions segment, following the divestiture of its Transmission & Distribution Solutions business.
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Continued Growth of e-Boost Mobile EV Charging Solutions: The company anticipates significant revenue growth from the sales and rentals of its e-Boost mobile electric vehicle (EV) charging solutions. This product line, which has already seen substantial expansion with variants like e-Boost Mini, e-Boost Mobile, and e-Boost POD, is addressing increasing demand from sectors such as fleet operators, school districts, and municipalities for flexible and rapidly deployable EV charging infrastructure.
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Launch and Adoption of PowerCore (formerly HOMe-Boost): Pioneer Power Solutions is introducing PowerCore, a new product that integrates natural gas power generation with fast DC charging. This solution is designed to provide continuous, reliable on-site power and EV charging in residential, light commercial, and other resilience-demanding markets where such services are not readily available. PowerCore is positioned to expand the company's addressable market and is expected to be a key growth driver in 2026 and beyond.
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International Expansion through eBoost Franchise-Type Model: The company is actively pursuing growth in international EV markets, particularly in regions with supportive policies and incentives similar to those in the United States. Pioneer plans to implement an "eBoost franchise-type model," leveraging its engineering and development expertise to collaborate with local partners. This strategy is expected to generate additional revenue streams through licensing, technology transfer, and revenue-sharing agreements.
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Expansion of Service and Maintenance Agreements: Beyond equipment sales and rentals, Pioneer Power Solutions expects to grow its revenue through service and maintenance agreements related to its Critical Power Solutions. This recurring revenue stream supports the longevity and operational efficiency of the deployed e-Boost units and other power generation equipment, contributing to sustained financial performance.
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Share Issuance
- As of April 11, 2025, 11,120,266 shares of common stock were outstanding.
- The company recognized $1.5 million in non-cash, stock-based compensation expense during 2023, an increase from $1.0 million in 2022.
- On March 2, 2026, CEO Nathan Mazurek exercised a stock option for 1,000 shares at $2.18 per share.
Capital Expenditures
- Capital expenditures were reported as $0.237 million and $2.496 million in recent financial data.
- The company's focus includes investment in product development, such as designing the e-Boost D Mobile, a model powered by diesel or renewable diesel, during the second half of 2025 to expand its addressable market.
Peer Outperformance in Electrical Components & Equipment
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 9.9% | 133.1% | 195.8% | CDNL 2264% · STRL 2206% · FIX 2205% |
| Marine Transportation | 5 | 88.0% | 70.6% | 178.4% | HOS 39847% · MATX 195% · KEX 178% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 3.5% | 54.9% | 103.6% | CAT 379% · ALSN 253% · WAB 231% |
| Aerospace & Defense | 54 | -12.8% | 64.8% | 71.1% | ATI 1031% · FTAI 826% · HWM 631% |
| Trading Companies & Distributors | 19 | 5.0% | 37.3% | 52.1% | DXPE 518% · AIT 284% · WCC 224% |
| Industrial Machinery & Supplies & Components | 72 | 14.5% | 52.3% | 50.2% | CRS 1129% · PSIX 1065% · EROC 627% |
| Rail Transportation | 7 | 20.0% | 62.7% | 48.3% | FSTR 138% · RAIL 64% · CSX 61% |
| Cargo Ground Transportation | 16 | 37.3% | 5.9% | 34.2% | XPO 287% · R 220% · CVLG 155% |
| Electrical Components & Equipment ← | 39 | 7.3% | 67.1% | 31.8% | POWL 2405% · BE 1469% · VRT 996% |
| Diversified Support Services | 33 | 9.3% | 33.6% | 30.2% | LIME 3065% · TH 369% · CXW 274% |
| Building Products | 33 | -14.9% | 3.0% | 17.7% | LMB 624% · GFF 356% · PPIH 269% |
| Industrial Conglomerates | 17 | 9.6% | 6.0% | -0.5% | RCMT 614% · CSW 133% · CSL 73% |
| Agricultural & Farm Machinery | 17 | 11.6% | 4.0% | -4.5% | BLBD 175% · DE 117% · GENC 59% |
| Environmental & Facilities Services | 30 | -18.6% | 21.1% | -8.2% | CECO 924% · ADUR 438% · NVRI 314% |
| Passenger Ground Transportation | 3 | -29.5% | 50.8% | -9.1% | UBER 49% · CAR -9% · LYFT -71% |
| Research & Consulting Services | 13 | -12.4% | -28.6% | -15.8% | HURN 221% · CRAI 72% · GRNQ 37% |
| Security & Alarm Services | 9 | -38.7% | 37.8% | -20.5% | CIX 156% · MG 110% · NL 70% |
| Office Services & Supplies | 9 | 13.5% | 18.9% | -28.5% | PBI 181% · TILE 123% · HNI 47% |
| Data Processing & Outsourced Services | 6 | -36.4% | -16.5% | -28.6% | EXLS 43% · BR 4% · G -25% |
| Passenger Airlines | 11 | 13.1% | 21.1% | -35.8% | LTM 2944% · UAL 121% · DAL 95% |
| Air Freight & Logistics | 12 | -32.1% | -21.8% | -37.2% | CHRW 103% · FDX 79% · EXPD 77% |
| Human Resource & Employment Services | 22 | 1.7% | -17.6% | -40.0% | BBSI 63% · ADP 41% · HQI 4% |
| Airport Services | 3 | -76.8% | -78.7% | -71.2% | JOBY -35% · ASLE -71% · UP -100% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Pioneer Power Solutions Earnings Notes | 12/16/2025 | |
| null | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 118.66 |
| Mkt Cap | 52.2 |
| Rev LTM | 6,319 |
| Op Inc LTM | 1,227 |
| FCF LTM | 1,584 |
| FCF 3Y Avg | 939 |
| CFO LTM | 1,805 |
| CFO 3Y Avg | 1,076 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.3% |
| Rev Chg 3Y Avg | 21.9% |
| Rev Chg Q | 15.1% |
| QoQ Delta Rev Chg LTM | 3.8% |
| Op Inc Chg LTM | 8.4% |
| Op Inc Chg 3Y Avg | 35.4% |
| Op Mgn LTM | 18.6% |
| Op Mgn 3Y Avg | 18.2% |
| QoQ Delta Op Mgn LTM | -0.3% |
| CFO/Rev LTM | 19.3% |
| CFO/Rev 3Y Avg | 17.2% |
| FCF/Rev LTM | 17.1% |
| FCF/Rev 3Y Avg | 16.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Equipment, including operating leases | 18 | 12 | |||
| Service | 9 | 11 | |||
| Critical Power Solutions | 11 | 10 | 9 | ||
| Electrical Infrastructure | 16 | ||||
| Transmission and Distribution (T&D) Solutions | 9 | ||||
| Total | 28 | 23 | 11 | 26 | 18 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Electrical Infrastructure | 4 | 0 | |||
| Critical Power Solutions | -3 | -2 | -0 | -0 | -4 |
| Unallocated corporate overhead expenses | -5 | -4 | -2 | -2 | -5 |
| Transmission and Distribution (T&D) Solutions | -1 | -2 | -3 | ||
| Total | -3 | -6 | -4 | -4 | -12 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Electrical Infrastructure | 14 | 16 | |||
| Critical Power Solutions | 9 | 8 | 4 | 4 | 5 |
| Corporate | 9 | 11 | 18 | 14 | 18 |
| Transmission and Distribution (T&D) Solutions | 6 | 3 | 6 | ||
| Total | 33 | 35 | 28 | 21 | 28 |
Price Behavior
| Market Price | $3.31 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 03/17/2009 | |
| Distance from 52W High | -45.6% | |
| 50 Days | 200 Days | |
| DMA Price | $3.05 | $3.72 |
| DMA Trend | down | down |
| Distance from DMA | 8.4% | -11.1% |
| 3M | 1YR | |
| Volatility | 51.4% | 77.4% |
| Downside Capture | 233.65 | 264.79 |
| Upside Capture | 144.00 | 190.94 |
| Correlation (SPY) | 43.9% | 39.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.24 | 1.51 | 2.09 | 2.50 | 2.34 | 1.50 |
| Up Beta | -1.90 | 0.09 | 2.25 | 3.15 | 2.61 | 1.01 |
| Down Beta | 5.71 | 1.67 | 1.98 | 3.42 | 2.26 | 1.58 |
| Up Capture | 204% | 250% | 172% | 191% | 303% | 421% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 13 | 22 | 29 | 63 | 121 | 338 |
| Down Capture | -89% | 126% | 242% | 195% | 167% | 112% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 8 | 19 | 33 | 60 | 125 | 377 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PPSI | |
|---|---|---|---|---|
| PPSI | -24.5% | 77.1% | -0.03 | - |
| Sector ETF (XLI) | 11.5% | 17.3% | 0.46 | 33.2% |
| Equity (SPY) | 16.2% | 13.0% | 0.88 | 39.3% |
| Gold (GLD) | 6.8% | 29.6% | 0.22 | 29.9% |
| Commodities (DBC) | 44.9% | 20.8% | 1.67 | -11.0% |
| Real Estate (VNQ) | 1.5% | 13.6% | -0.15 | 15.9% |
| Bitcoin (BTCUSD) | -28.9% | 44.3% | -0.64 | 28.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PPSI | |
|---|---|---|---|---|
| PPSI | 6.4% | 128.7% | 0.44 | - |
| Sector ETF (XLI) | 12.6% | 17.6% | 0.55 | 16.4% |
| Equity (SPY) | 13.1% | 17.2% | 0.58 | 17.8% |
| Gold (GLD) | 18.4% | 18.9% | 0.79 | 7.5% |
| Commodities (DBC) | 10.3% | 19.6% | 0.41 | 2.6% |
| Real Estate (VNQ) | 0.7% | 18.8% | -0.07 | 13.9% |
| Bitcoin (BTCUSD) | 14.6% | 52.2% | 0.45 | 17.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PPSI | |
|---|---|---|---|---|
| PPSI | 1.8% | 129.7% | 0.43 | - |
| Sector ETF (XLI) | 13.2% | 20.0% | 0.58 | 10.8% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 11.3% |
| Gold (GLD) | 11.5% | 16.4% | 0.57 | 3.5% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 4.2% |
| Real Estate (VNQ) | 4.2% | 20.7% | 0.16 | 9.7% |
| Bitcoin (BTCUSD) | 64.1% | 66.2% | 1.04 | 6.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/22/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/18/2026 | 1.0% | 30.9% | 10.3% |
| 11/13/2025 | -6.9% | -13.8% | -0.8% |
| 8/14/2025 | 39.9% | 16.4% | 46.8% |
| 5/15/2025 | 4.9% | -10.8% | -5.6% |
| 2/19/2025 | 9.0% | -4.0% | -6.6% |
| 11/20/2024 | 2.3% | -1.2% | -11.6% |
| 4/1/2024 | -22.9% | -27.9% | -36.0% |
| 11/14/2023 | -7.7% | -11.3% | -15.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 6 | 7 |
| # Negative | 8 | 12 | 11 |
| Median Positive | 8.0% | 20.3% | 10.3% |
| Median Negative | -7.5% | -10.0% | -15.3% |
| Max Positive | 39.9% | 40.1% | 89.8% |
| Max Negative | -22.9% | -28.4% | -36.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/18/2026 | 1.0% | 30.9% | 10.3% |
| 11/13/2025 | -6.9% | -13.8% | -0.8% |
| 8/14/2025 | 39.9% | 16.4% | 46.8% |
| 5/15/2025 | 4.9% | -10.8% | -5.6% |
| 2/19/2025 | 9.0% | -4.0% | -6.6% |
| 11/20/2024 | 2.3% | -1.2% | -11.6% |
| 4/1/2024 | -22.9% | -27.9% | -36.0% |
| 11/14/2023 | -7.7% | -11.3% | -15.3% |
| 8/14/2023 | 11.3% | 6.8% | -6.3% |
| 5/15/2023 | -2.8% | 10.6% | 38.2% |
| 3/30/2023 | 20.1% | 24.2% | 89.8% |
| 2/8/2023 | 0.7% | -3.1% | 1.7% |
| 11/14/2022 | -7.2% | -2.9% | -17.1% |
| 8/15/2022 | -10.7% | -13.4% | -17.4% |
| 5/16/2022 | 13.4% | 40.1% | 9.3% |
| 3/31/2022 | -9.9% | -9.2% | -27.6% |
| 11/16/2021 | -2.5% | -28.4% | 4.5% |
| 4/14/2021 | 7.0% | -6.5% | -18.1% |
| SUMMARY STATS | |||
| # Positive | 10 | 6 | 7 |
| # Negative | 8 | 12 | 11 |
| Median Positive | 8.0% | 20.3% | 10.3% |
| Median Negative | -7.5% | -10.0% | -15.3% |
| Max Positive | 39.9% | 40.1% | 89.8% |
| Max Negative | -22.9% | -28.4% | -36.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 04/08/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 04/15/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 10/08/2024 | 10-Q |
| 03/31/2024 | 09/10/2024 | 10-Q |
| 12/31/2023 | 07/26/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 04/11/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 04/08/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 04/15/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 10/08/2024 | 10-Q |
| 03/31/2024 | 09/10/2024 | 10-Q |
| 12/31/2023 | 07/26/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 04/11/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/31/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/13/2021 | 10-Q |
| 03/31/2021 | 05/14/2021 | 10-Q |
| 12/31/2020 | 03/30/2021 | 10-K |
| 09/30/2020 | 11/13/2020 | 10-Q |
| 06/30/2020 | 08/14/2020 | 10-Q |
| 03/31/2020 | 05/15/2020 | 10-Q |
| 12/31/2019 | 03/30/2020 | 10-K |
| 09/30/2019 | 11/18/2019 | 10-Q |
Recent Forward Guidance
Updated 10/4/2026Latest: Q1 2026 Earnings Reported 5/18/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Operating Expenses Reduction | Reported | 1.50 Mil | ||||||
Prior: Q3 2025 Earnings Reported 11/13/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 27.00 Mil | 28.00 Mil | 29.00 Mil | 0 | Affirmed | Guidance: 28.00 Mil for 2025 | |
| 2025 Revenue Growth | Reported | 20.0% | ||||||
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mazurek, Nathan | Chief Executive Officer | Direct | Buy | 11202025 | 3.39 | 10,000 | 33,870 | 6,694,392 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mazurek, Nathan | Chief Executive Officer | Direct | Buy | 11202025 | 3.39 | 10,000 | 33,870 | 6,694,392 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Electrical Components & Equipment Resources |
| EC&M (Electrical Construction & Maintenance) |
| Electrical Contracting News (ECN) |
| EE Times |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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