SolarMax Technology (SMXT)
Market Price (6/22/2026): $0.3922 | Market Cap: $22.0 MilSector: Information Technology | Industry: Semiconductors
SolarMax Technology (SMXT)
Market Price (6/22/2026): $0.3922Market Cap: $22.0 MilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 309% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -56% Megatrend and thematic driversMegatrends include Renewable Energy Transition, and Sustainable & Green Buildings. Themes include Solar Energy Generation, Battery Storage & Grid Modernization, Show more. | Weak multi-year price returns2Y Excs Rtn is -131%, 3Y Excs Rtn is -167% | Penny stockMkt Price is 0.4 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.0 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.1% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 150% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3.1% 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 -29% High stock price volatilityVol 12M is 117% Key risksSMXT key risks include [1] significant financial instability and a stockholders' equity deficit, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 309% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -56% |
| Megatrend and thematic driversMegatrends include Renewable Energy Transition, and Sustainable & Green Buildings. Themes include Solar Energy Generation, Battery Storage & Grid Modernization, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -131%, 3Y Excs Rtn is -167% |
| Penny stockMkt Price is 0.4 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.0 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.1% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 150% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3.1% |
| 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 -29% |
| High stock price volatilityVol 12M is 117% |
| Key risksSMXT key risks include [1] significant financial instability and a stockholders' equity deficit, Show more. |
Qualitative Assessment
AI Analysis | Feedback
SolarMax Technology (SMXT) stock has lost about 45% since 2/28/2026 because of the following key factors:
1. Severe Balance Sheet Deterioration and Going Concern Doubt.
SolarMax Technology's balance sheet showed significant distress, with cash and cash equivalents falling to $4.3 million as of March 31, 2026, from $8.0 million at year-end. The company reported a working capital deficit of approximately $17.6 million and a stockholders' deficit of $11.4 million, as total liabilities of $117.6 million exceeded assets. Management also concluded that substantial doubt exists about the company's ability to continue as a going concern, a critical disclosure that severely undermined investor confidence.
2. Defaults on Convertible Notes and Refinancing Risk.
SolarMax Technology was in default on convertible notes totaling $13.7 million out of $14.1 million as of March 31, 2026. This, coupled with approximately $18.1 million of debt due within 12 months, created significant refinancing risk and further highlighted the company's precarious financial position.
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SolarMax Technology (SMXT) stock has lost about 45% since 2/28/2026 because of the following key factors:
1. Severe Balance Sheet Deterioration and Going Concern Doubt.
SolarMax Technology's balance sheet showed significant distress, with cash and cash equivalents falling to $4.3 million as of March 31, 2026, from $8.0 million at year-end. The company reported a working capital deficit of approximately $17.6 million and a stockholders' deficit of $11.4 million, as total liabilities of $117.6 million exceeded assets. Management also concluded that substantial doubt exists about the company's ability to continue as a going concern, a critical disclosure that severely undermined investor confidence.
2. Defaults on Convertible Notes and Refinancing Risk.
SolarMax Technology was in default on convertible notes totaling $13.7 million out of $14.1 million as of March 31, 2026. This, coupled with approximately $18.1 million of debt due within 12 months, created significant refinancing risk and further highlighted the company's precarious financial position.
3. Broad Solar Industry Headwinds and Slowdown Projections.
The broader solar industry faced significant challenges during the period. U.S. solar installations in fiscal Q1 2026 declined 27% year-over-year and 42% quarter-over-quarter. Projections indicated a 21% contraction in the residential solar market in 2026 due to the expiration of the Section 25D tax credit, and a dip in the commercial segment due to California's transition away from NEM 2.0. Globally, 2026 is projected to be the first year in two decades to see an annual decline in solar panel installations, further pressuring companies in the sector.
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Stock Movement Drivers
Fundamental Drivers
The -46.6% change in SMXT stock from 2/28/2026 to 6/21/2026 was primarily driven by a -70.7% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.71 | 0.38 | -46.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 51 | 99 | 94.5% |
| P/S Multiple | 0.7 | 0.2 | -70.7% |
| Shares Outstanding (Mil) | 53 | 56 | -6.2% |
| Cumulative Contribution | -46.6% |
Market Drivers
2/28/2026 to 6/21/2026| Return | Correlation | |
|---|---|---|
| SMXT | -46.6% | |
| Market (SPY) | 9.2% | 4.9% |
| Sector (XLK) | 38.1% | 12.6% |
Fundamental Drivers
The -58.9% change in SMXT stock from 11/30/2025 to 6/21/2026 was primarily driven by a -77.5% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.92 | 0.38 | -58.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 51 | 99 | 94.5% |
| P/S Multiple | 1.0 | 0.2 | -77.5% |
| Shares Outstanding (Mil) | 53 | 56 | -6.2% |
| Cumulative Contribution | -58.9% |
Market Drivers
11/30/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| SMXT | -58.9% | |
| Market (SPY) | 9.9% | 12.2% |
| Sector (XLK) | 34.1% | 17.4% |
Fundamental Drivers
The -66.7% change in SMXT stock from 5/31/2025 to 6/21/2026 was primarily driven by a -89.7% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.14 | 0.38 | -66.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 24 | 99 | 309.5% |
| P/S Multiple | 2.1 | 0.2 | -89.7% |
| Shares Outstanding (Mil) | 44 | 56 | -20.9% |
| Cumulative Contribution | -66.7% |
Market Drivers
5/31/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| SMXT | -66.7% | |
| Market (SPY) | 28.1% | 7.7% |
| Sector (XLK) | 66.8% | 9.8% |
Fundamental Drivers
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Market Drivers
5/31/2023 to 6/21/2026| Return | Correlation | |
|---|---|---|
| SMXT | ||
| Market (SPY) | 85.7% | 10.2% |
| Sector (XLK) | 137.9% | 10.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SMXT Return | - | - | - | -80% | -49% | -50% | -95% |
| Peers Return | -14% | 9% | -4% | -33% | 23% | -4% | -29% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| SMXT Win Rate | - | - | - | 45% | 25% | 17% | |
| Peers Win Rate | 46% | 52% | 44% | 42% | 47% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SMXT Max Drawdown | - | - | - | - | -60% | -64% | |
| Peers Max Drawdown | -50% | -50% | -57% | -50% | -60% | -49% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: RUN, SPWR, FLNC, FSLR, ENPH.
[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 6/18/2026 (YTD)
How Low Can It Go
| Event | SMXT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -16.7% | -18.8% |
| % Gain to Breakeven | 20.1% | 23.1% |
| Time to Breakeven | 119 days | 79 days |
In The Past
SolarMax Technology's stock fell -16.7% during the 2025 US Tariff Shock. Such a loss loss requires a 20.1% gain to breakeven.
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In The Past
SolarMax Technology's stock fell -16.7% during the 2025 US Tariff Shock. Such a loss loss requires a 20.1% 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 SolarMax Technology (SMXT)
SolarMax Technology (SMXT) operates as an integrated solar energy company primarily focused on its United States operations. In the U.S., the company specializes in the sale and installation of integrated photovoltaic (solar) systems and backup battery systems for residential and commercial customers. Additionally, SMXT provides LED lighting sales and retrofitting services for governmental and commercial applications. The company also generates revenue from an existing portfolio of secured loans provided to solar customers prior to 2020, and from owning and funding renewable energy projects based on pre-2015 leases, primarily through operating leases and power purchase agreements with commercial users.
The company also has a China segment that historically engaged in identifying and procuring solar farm projects for resale to third-party developers, and providing engineering, procurement, and construction (EPC) services for these large-scale solar farms. However, it is important for investors to understand that SolarMax Technology has generated only nominal revenue from its Chinese operations since mid-2021, and reported no revenue from this segment in 2022, 2023, or 2024. As of the date of the prospectus, there are no contracts in place anticipated to generate revenue from the China segment, indicating that its current business activities and revenue generation are almost exclusively driven by its U.S. operations.
AI Analysis | Feedback
Here are a few brief analogies for SolarMax Technology (SMXT):
- Like Sunrun for residential and commercial solar and battery installations, plus commercial LED lighting.
- Essentially, a regional Sunrun (for solar and battery systems) that also provides commercial LED retrofitting services.
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- Residential & Commercial Solar PV Systems: Selling and installing integrated photovoltaic systems for residential and commercial customers in the United States.
- Battery Backup Systems: Selling and installing backup battery systems for residential and commercial customers in the United States.
- LED Lighting Sales & Retrofitting: Providing exterior and interior LED lighting products and retrofitting services for governmental and commercial applications.
- Solar Project Financing Services: Providing secured loans to purchasers of photovoltaic systems and servicing installment sales by customers in the United States.
- Renewable Energy Project Ownership & Management: Owning and funding renewable energy projects in the United States, generating revenue from operating leases and power purchase agreements.
- China Solar Farm Project Development & Resale: Identifying and procuring solar farm system projects for resale to third-party developers in China, typically by selling equity in project subsidiaries.
- China Solar Farm EPC Services: Providing engineering, procuring, and construction services for solar farms and photovoltaic systems in China.
- China Solar Farm Operations & Maintenance: Operating and maintaining solar farm projects in China following the completion of EPC work.
AI Analysis | Feedback
SolarMax Technology (SMXT) serves a diverse customer base primarily within its United States operations. The company does not list specific major customer companies by name, but rather describes categories of customers it serves.
Its major customer categories are:
- Residential Customers: Individuals purchasing and installing integrated photovoltaic (solar) systems and backup battery systems for their homes.
- Commercial Customers: Businesses and organizations that purchase and install photovoltaic (solar) systems, backup battery systems, acquire LED lighting solutions, and engage in operating leases or power purchase agreements for renewable energy projects.
- Governmental Customers: Government entities and agencies that utilize SolarMax Technology's services for exterior and interior LED lighting sales and retrofitting.
While the company historically had operations in China focused on selling solar farm projects to third-party developers and providing EPC services to those buyers (which would be "other companies"), the provided background states that the China segment generated nominal revenue in 2021, and no revenue in 2022, 2023, and 2024 through the date of the prospectus. As such, the company's current primary customer base is described by the categories above in the United States.
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David Hsu, Chief Executive Officer and Chairman
Mr. David Bingwen Hsu is a co-founder of SolarMax Technology, Inc. and has served as its Chief Executive Officer and Director since February 2008, also holding the position of Chairman. He is recognized as a widely-respected entrepreneur.
Stephen P. Brown, Chief Financial Officer and Secretary
Mr. Stephen P. Brown has served as the Chief Financial Officer and Secretary of SolarMax Technology, Inc. since May 2017. He possesses 20 years of experience in sales, international business development, and management within the automotive and energy industries. Mr. Brown's past roles include serving as CFO of STAAR Surgical, Hoya Surgical Optics, and Advanced Sterilization Products, a division of Johnson & Johnson, gaining experience in financial divisions in both public and private companies.
Ching Liu, Executive Vice President, Chief Strategy Officer, Director, and Treasurer
Ms. Ching Liu co-founded SolarMax Technology, Inc. in 2008. She currently holds the titles of Executive Vice President, Chief Strategy Officer, Director, and Treasurer.
Dee R. Balch, Senior Vice President and Chief Accounting Officer
Ms. Dee R. Balch serves as the Senior Vice President and Chief Accounting Officer for SolarMax Technology, Inc.
Bin Lu, Head of China Segment
Mr. Bin Lu is the Head of the China Segment for SolarMax Technology, Inc.
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Key Risks to the Business of SolarMax Technology (SMXT)
- Inability to Generate Revenue from China Operations: SolarMax Technology has not generated any revenue from its China segment in 2022, 2023, and 2024 through the date of the prospectus, and as of the prospectus date, it does not have any contracts that will generate revenue from this segment. This indicates a complete cessation of revenue generation from a business segment that involved significant acquisitions and was intended for solar farm project development and EPC services, representing a substantial operational and financial setback for that part of the business.
- Suspension of Lending Activities in the United States Due to Capital Constraints: Since early 2020, SolarMax Technology has suspended making loans to its solar customers in the United States due to a lack of capital to support such operations. The company's finance revenue now solely relates to its existing financing portfolio. This suspension of lending significantly hinders the company's ability to facilitate new sales of photovoltaic systems to residential and commercial customers in its primary market, potentially impacting growth and competitiveness.
- Reliance on Legacy Revenue Streams for Financing and Renewable Energy Projects: A portion of SolarMax Technology's revenue is derived from its existing financing portfolio for solar customers and from renewable energy projects in the United States based on leases entered into prior to 2015. This suggests that certain revenue streams are not actively being replenished with new financing activities or new project leases, indicating a potential long-term stagnation or decline in these specific business areas if new initiatives are not undertaken.
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- U.S. Residential Solar PV Market: This market was estimated at USD 7.45 billion in 2023. It is projected to grow at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2030, reaching an estimated USD 17.68 billion by 2030.
- U.S. Commercial Solar PV Market: In 2025, the commercial solar segment saw 2,345 MWdc of new capacity installed, marking a 6% increase from 2024 and setting a new annual record.
- U.S. Battery Energy Storage System Market (Residential and Commercial): The overall U.S. battery energy storage system market, which includes both residential and commercial applications, was valued at USD 3.62 billion in 2025. This market is anticipated to grow significantly, reaching approximately USD 36.47 billion by 2035, exhibiting a CAGR of 25.99% from 2026 to 2035.
- U.S. LED Lighting Retrofit Market (Governmental and Commercial): Focusing on retrofit projects for commercial and governmental applications, the U.S. LED retrofit market was valued at USD 985.7 million in 2024. The broader U.S. LED lighting market, which includes retrofits, generated a revenue of USD 18,089.4 million in 2025 and is expected to reach USD 31,545.1 million by 2033, growing at a CAGR of 7.3% from 2026 to 2033. Retrofit installations constituted a significant portion, accounting for 78.65% of the U.S. LED lighting market size in 2025.
AI Analysis | Feedback
SolarMax Technology (SMXT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives in its United States operations:
- Growth in large-scale commercial and utility-scale solar and battery storage EPC projects: SolarMax Technology has strategically shifted towards securing significant Engineering, Procurement, and Construction (EPC) contracts for large-scale commercial and utility-scale battery storage projects in the United States. This is evidenced by a $127.3 million EPC contract for a 430-megawatt hour battery storage project in Texas, anticipated to substantially boost revenue by June 2026. Further contracts include a $258.1 million EPC contract for a 600 MWh battery storage project in Texas and $158 million in EPC contracts for 400 MWh battery storage projects in Puerto Rico. The company is actively developing its pipeline for commercial and industrial solar and battery system projects.
- Expansion of residential solar installations in the United States: Despite challenges in the residential solar market due to policy changes like California's NEM 3.0, SolarMax Technology continues to focus on expanding its residential solar operations within the U.S. The company is seeing "meaningful traction through its dealer network" and exploring new financing options to appeal to residential customers amidst higher interest rates.
- Increased sales and retrofitting services for LED lighting in the United States: SolarMax Technology's investor relations information and strategic initiatives indicate a continued focus on scaling its LED lighting solutions in the US, encompassing both sales and retrofitting services for governmental and commercial applications.
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Share Issuance
- SolarMax Technology completed its initial public offering (IPO) in March 2024, generating approximately $18.6 million in net proceeds.
- The IPO involved the issuance of 4,500,000 shares of common stock at a price of $4.00 per share, with trading commencing on Nasdaq on February 27, 2024.
- In March 2025, the company issued an additional 561,798 shares of common stock to an accredited investor, raising $500,000 to support working capital.
Inbound Investments
- The company received approximately $18.6 million in net proceeds from its initial public offering in March 2024.
- An investment of $500,000 was made in March 2025 through the issuance of 561,798 shares of common stock to an accredited investor, intended for working capital.
Capital Expenditures
- SolarMax Technology reported $0 in capital expenditures for Q3 2024.
- For the full year 2024, the company's capital expenditures were $0.
- Capital expenditures amounted to $0.03 million in 2023.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| SolarMax Technology Earnings Notes | 12/16/2025 | |
| With SolarMax Technology Stock Sliding, Have You Assessed The Risk? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 19.16 |
| Mkt Cap | 3.2 |
| Rev LTM | 1,992 |
| Op Inc LTM | -24 |
| FCF LTM | -21 |
| FCF 3Y Avg | -25 |
| CFO LTM | -21 |
| CFO 3Y Avg | -25 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 39.8% |
| Rev Chg 3Y Avg | 20.2% |
| Rev Chg Q | 15.7% |
| QoQ Delta Rev Chg LTM | 2.6% |
| Op Inc Chg LTM | 29.9% |
| Op Inc Chg 3Y Avg | -4.2% |
| Op Mgn LTM | -1.8% |
| Op Mgn 3Y Avg | -11.5% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | -6.1% |
| CFO/Rev 3Y Avg | -6.8% |
| FCF/Rev LTM | -6.8% |
| FCF/Rev 3Y Avg | -7.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Large-scale engineering, procurement and construction (EPC)contracts | 60 | 0 | |||
| Sales on non-installment basis | 17 | 14 | 50 | 40 | 27 |
| Light-emitting diode (LED) projects | 7 | 5 | 3 | 3 | 1 |
| Third-party leasing arrangements | 6 | 4 | 0 | 0 | 0 |
| Financing related | 0 | 0 | 1 | 1 | 1 |
| Operating lease revenues | 0 | 0 | 0 | 0 | 0 |
| Power purchase agreement revenues | 0 | 0 | 0 | 0 | 0 |
| Revenue of People's Republic of China (PRC) Segment | 8 | ||||
| Sales on installment basis | 0 | ||||
| Total | 91 | 23 | 54 | 45 | 38 |
Price Behavior
| Market Price | $0.38 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 02/27/2024 | |
| Distance from 52W High | -77.1% | |
| 50 Days | 200 Days | |
| DMA Price | $0.54 | $0.80 |
| DMA Trend | down | down |
| Distance from DMA | -30.0% | -52.7% |
| 3M | 1YR | |
| Volatility | 109.2% | 118.1% |
| Downside Capture | 239.94 | 166.52 |
| Upside Capture | -105.95 | -1.80 |
| Correlation (SPY) | 2.2% | 7.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 5.20 | 1.15 | 1.40 | 1.80 | 1.17 | -0.73 |
| Up Beta | 6.85 | -0.07 | 0.78 | 0.39 | 0.83 | 0.59 |
| Down Beta | 1.87 | 6.51 | 2.21 | 2.66 | 2.26 | -0.29 |
| Up Capture | 249% | -19% | 56% | 116% | 29% | 17% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 8 | 19 | 29 | 58 | 109 | 248 |
| Down Capture | 894% | 401% | 217% | 230% | 147% | 112% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 12 | 22 | 34 | 66 | 124 | 282 |
[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 SMXT | |
|---|---|---|---|---|
| SMXT | -66.2% | 117.7% | -0.45 | - |
| Sector ETF (XLK) | 59.9% | 23.1% | 1.96 | 9.3% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 7.2% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 1.9% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -3.3% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 4.4% |
| Bitcoin (BTCUSD) | -40.0% | 42.4% | -1.08 | 16.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SMXT | |
|---|---|---|---|---|
| SMXT | -46.0% | 134.9% | -0.37 | - |
| Sector ETF (XLK) | 22.9% | 25.3% | 0.80 | 10.2% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 10.2% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 2.3% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | -0.9% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 5.6% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 5.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SMXT | |
|---|---|---|---|---|
| SMXT | -26.5% | 134.9% | -0.37 | - |
| Sector ETF (XLK) | 25.4% | 24.7% | 0.93 | 10.2% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 10.2% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 2.3% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | -0.9% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 5.6% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 5.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/22/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/18/2026 | 0.2% | -2.1% | -27.0% |
| 11/17/2025 | 1.5% | -4.2% | -16.4% |
| 8/15/2025 | 6.9% | 19.6% | 4.9% |
| 5/19/2025 | -5.0% | -10.0% | -9.2% |
| 4/1/2025 | -1.7% | -10.1% | 0.0% |
| 11/18/2024 | 4.2% | 15.8% | 29.5% |
| 8/15/2024 | 9.0% | -5.6% | -70.8% |
| 5/16/2024 | 0.2% | -7.1% | -62.7% |
| SUMMARY STATS | |||
| # Positive | 6 | 2 | 3 |
| # Negative | 2 | 6 | 5 |
| Median Positive | 2.9% | 17.7% | 4.9% |
| Median Negative | -3.3% | -6.3% | -27.0% |
| Max Positive | 9.0% | 19.6% | 29.5% |
| Max Negative | -5.0% | -10.1% | -70.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/18/2026 | 0.2% | -2.1% | -27.0% |
| 11/17/2025 | 1.5% | -4.2% | -16.4% |
| 8/15/2025 | 6.9% | 19.6% | 4.9% |
| 5/19/2025 | -5.0% | -10.0% | -9.2% |
| 4/1/2025 | -1.7% | -10.1% | 0.0% |
| 11/18/2024 | 4.2% | 15.8% | 29.5% |
| 8/15/2024 | 9.0% | -5.6% | -70.8% |
| 5/16/2024 | 0.2% | -7.1% | -62.7% |
| SUMMARY STATS | |||
| # Positive | 6 | 2 | 3 |
| # Negative | 2 | 6 | 5 |
| Median Positive | 2.9% | 17.7% | 4.9% |
| Median Negative | -3.3% | -6.3% | -27.0% |
| Max Positive | 9.0% | 19.6% | 29.5% |
| Max Negative | -5.0% | -10.1% | -70.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 04/06/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/16/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/16/2024 | 10-K |
| 09/30/2023 | 02/28/2024 | 424B4 |
| 06/30/2023 | 09/11/2023 | S-1/A |
| 03/31/2023 | 08/07/2023 | S-1/A |
| 09/30/2022 | 01/20/2023 | S-1/A |
| 06/30/2022 | 10/28/2022 | S-1/A |
| 03/31/2022 | 08/12/2022 | S-1/A |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 04/06/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/16/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/16/2024 | 10-K |
| 09/30/2023 | 02/28/2024 | 424B4 |
| 06/30/2023 | 09/11/2023 | S-1/A |
| 03/31/2023 | 08/07/2023 | S-1/A |
| 09/30/2022 | 01/20/2023 | S-1/A |
| 06/30/2022 | 10/28/2022 | S-1/A |
| 03/31/2022 | 08/12/2022 | S-1/A |
| 09/30/2019 | 12/04/2019 | S-1/A |
| 06/30/2019 | 10/15/2019 | S-1/A |
| 03/31/2019 | 06/17/2019 | S-1/A |
| 12/31/2018 | 05/01/2019 | S-1/A |
| 09/30/2018 | 12/24/2018 | S-1 |
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Semiconductors Resources |
| EE Times |
| Semiconductor Engineering |
| Semiconductor Digest |
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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