SUNation Energy (SUNE)
Market Price (4/12/2026): $1.58 | Market Cap: $5.4 MilSector: Information Technology | Industry: Semiconductors
SUNation Energy (SUNE)
Market Price (4/12/2026): $1.58Market Cap: $5.4 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 26% Attractive yieldFCF Yield is 16% Megatrend and thematic driversMegatrends include Renewable Energy Transition, Sustainable Infrastructure, and Sustainable & Green Buildings. Themes include Solar Energy Generation, Show more. | Weak multi-year price returns2Y Excs Rtn is -131%, 3Y Excs Rtn is -166% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.7 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.3% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 51% 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 -200% High stock price volatilityVol 12M is 152% Key risksSUNE key risks include [1] a history of consistent unprofitability and declining earnings, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 26% |
| Attractive yieldFCF Yield is 16% |
| Megatrend and thematic driversMegatrends include Renewable Energy Transition, Sustainable Infrastructure, and Sustainable & Green Buildings. Themes include Solar Energy Generation, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -131%, 3Y Excs Rtn is -166% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.7 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.3% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 51% |
| 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 -200% |
| High stock price volatilityVol 12M is 152% |
| Key risksSUNE key risks include [1] a history of consistent unprofitability and declining earnings, Show more. |
Qualitative Assessment
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1. Strong Fourth Quarter and Full Year 2025 Financial Performance.
SUNation Energy reported robust financial results for the fourth quarter and full year ended December 31, 2025, significantly exceeding prior guidance. Fourth-quarter 2025 total sales surged by 77% year-over-year to $27.2 million, while full-year 2025 sales reached $71.9 million, an increase of 26% from 2024. The company achieved a positive adjusted EBITDA of $4.1 million in Q4 2025, a substantial improvement from a $1.1 million loss in the prior year's quarter. This performance, which included full-year adjusted EBITDA of $2.5 million, well surpassed the guided range of $0.5 million to $0.7 million, driving a 37.5% gain in the stock price the day after the earnings announcement on March 18, 2026.
2. Significant Debt Reduction and Enhanced Financial Flexibility.
The company strengthened its financial position by eliminating approximately $1.1 million in legacy debt on February 3, 2026, removing multi-year payment obligations and improving cash flow. This strategic move contributed to a substantial increase in cash and cash equivalents, which stood at $7.2 million at year-end 2025, compared to $0.8 million on December 31, 2024. The announcement of this debt reduction led to a 41.69% jump in the stock price.
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Stock Movement Drivers
Fundamental Drivers
The 58.3% change in SUNE stock from 12/31/2025 to 4/11/2026 was primarily driven by a 32.6% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4112026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.03 | 1.63 | 58.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 60 | 72 | 19.7% |
| P/S Multiple | 0.1 | 0.1 | 32.6% |
| Shares Outstanding (Mil) | 3 | 3 | -0.3% |
| Cumulative Contribution | 58.3% |
Market Drivers
12/31/2025 to 4/11/2026| Return | Correlation | |
|---|---|---|
| SUNE | 58.3% | |
| Market (SPY) | -5.4% | 0.5% |
| Sector (XLK) | -0.9% | 4.9% |
Fundamental Drivers
The 16.4% change in SUNE stock from 9/30/2025 to 4/11/2026 was primarily driven by a 28.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302025 | 4112026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.40 | 1.63 | 16.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 56 | 72 | 28.9% |
| P/S Multiple | 0.1 | 0.1 | 0.7% |
| Shares Outstanding (Mil) | 3 | 3 | -10.3% |
| Cumulative Contribution | 16.4% |
Market Drivers
9/30/2025 to 4/11/2026| Return | Correlation | |
|---|---|---|
| SUNE | 16.4% | |
| Market (SPY) | -2.9% | 15.4% |
| Sector (XLK) | 1.4% | 16.0% |
Fundamental Drivers
The -97.5% change in SUNE stock from 3/31/2025 to 4/11/2026 was primarily driven by a -100.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312025 | 4112026 | Change |
|---|---|---|---|
| Stock Price ($) | 65.36 | 1.63 | -97.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 61 | 72 | 18.0% |
| P/S Multiple | 0.0 | 0.1 | 4662.6% |
| Shares Outstanding (Mil) | 0 | 3 | -100.0% |
| Cumulative Contribution | -97.5% |
Market Drivers
3/31/2025 to 4/11/2026| Return | Correlation | |
|---|---|---|
| SUNE | -97.5% | |
| Market (SPY) | 16.3% | 8.4% |
| Sector (XLK) | 38.8% | 9.8% |
Fundamental Drivers
The -100.0% change in SUNE stock from 3/31/2023 to 4/11/2026 was primarily driven by a -100.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312023 | 4112026 | Change |
|---|---|---|---|
| Stock Price ($) | 238500.00 | 1.63 | -100.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 72 | 0.0% |
| P/S Multiple | � | 0.1 | 0.0% |
| Shares Outstanding (Mil) | 0 | 3 | -100.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
3/31/2023 to 4/11/2026| Return | Correlation | |
|---|---|---|
| SUNE | -100.0% | |
| Market (SPY) | 63.3% | 8.1% |
| Sector (XLK) | 92.6% | 9.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SUNE Return | 27% | -76% | -75% | -99% | -100% | 48% | -100% |
| Peers Return | 42% | -15% | 60% | 30% | 13% | 13% | 224% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| SUNE Win Rate | 58% | 17% | 8% | 8% | 25% | 50% | |
| Peers Win Rate | 53% | 40% | 57% | 50% | 53% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SUNE Max Drawdown | -4% | -92% | -75% | -99% | -100% | -24% | |
| Peers Max Drawdown | -15% | -42% | -12% | -17% | -32% | -14% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: QCOM, FSLR, SLAB, POWI, NVDA.
[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 4/10/2026 (YTD)
How Low Can It Go
| Event | SUNE | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -97.1% | -25.4% |
| % Gain to Breakeven | 3371.2% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -44.5% | -33.9% |
| % Gain to Breakeven | 80.3% | 51.3% |
| Time to Breakeven | 118 days | 148 days |
| 2018 Correction | ||
| % Loss | -60.8% | -19.8% |
| % Gain to Breakeven | 155.2% | 24.7% |
| Time to Breakeven | 304 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -39.1% | -56.8% |
| % Gain to Breakeven | 64.1% | 131.3% |
| Time to Breakeven | 270 days | 1,480 days |
Compare to QCOM, FSLR, SLAB, POWI, NVDA
In The Past
SUNation Energy's stock fell -97.1% during the 2022 Inflation Shock from a high on 10/18/2021. A -97.1% loss requires a 3371.2% gain to breakeven.
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About SUNation Energy (SUNE)
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- Solar Energy Services: Integrated services for the downstream solar market, encompassing design, installation, financing, monitoring, operations, and maintenance of solar power systems.
- Solar Module & Component Manufacturing: Production of polysilicon, silicon wafers, and solar modules used in solar energy applications.
- Clean Power Generation & Sales: Ownership and operation of clean power generation assets, selling electricity through long-term power purchase agreements to various customers.
- Semiconductor Silicon Wafer Manufacturing: Production and sale of various types of silicon wafers, including prime, polished, EPI, and silicon-on-insulator wafers, for the semiconductor industry.
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Based on the provided company description for SunEdison, Inc. (which historically traded under the symbol SUNE), its major customers include a diverse range of businesses, government entities, and individuals across its various segments:
- Semiconductor Device Manufacturers: These customers purchase silicon wafers (prime, test/monitor, polished, EPI, and silicon-on-insulator wafers) for manufacturing microprocessors, memory, logic, and power devices. This category includes memory, microprocessor, and ASIC manufacturers.
- Foundries: Companies that produce semiconductor devices for other businesses also acquire wafers from SunEdison.
- Commercial Sector: This includes national retail chains, real estate property management firms, and other commercial customers who utilize solar energy services, installations, and power purchase agreements.
- Government Sector: Federal, state, and municipal governments are customers for solar energy systems and services.
- Utilities: Power utilities purchase electricity from SunEdison's clean power generation assets through long-term power purchase agreements.
- Residential Customers: Individuals who purchase solar energy services (design, installation, financing, monitoring, operations, and maintenance) and electricity from SunEdison's power generation assets.
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The key risks to the business for SunEdison, Inc., the company described in the background information, primarily revolved around its aggressive growth strategy and associated financial challenges, which ultimately led to its bankruptcy.- Aggressive Debt-Fueled Acquisitions and Expansion: SunEdison pursued a rapid and extensive expansion strategy, acquiring numerous companies and projects, heavily financing these endeavors with significant debt. This approach created an unsustainable debt load that the company struggled to manage.
- Severe Liquidity Crisis and Cash Flow Issues: The company faced critical liquidity problems, indicating an inability to generate adequate cash flow to cover its operational expenses and service its substantial debt obligations. Problems with its "yieldco" model, designed to house and sell power generation assets, further complicated its financial position and led to difficulties in monetizing projects.
- Weaknesses in Financial Controls and Reporting: SunEdison encountered significant issues with its financial reporting, including delays in filing annual reports and identifying material weaknesses in its internal controls. These problems led to investigations by regulatory bodies and eroded investor confidence in the company's financial transparency and management.
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- Disruptive Energy Storage Technologies: The rapid advancement and cost reduction of battery storage solutions (e.g., utility-scale batteries, residential systems) threatened to fundamentally alter the energy market. Companies like SunEdison, which owned and operated solar assets and provided solar services, faced a threat if they could not effectively integrate or compete with increasingly sophisticated and cost-effective energy storage that could reduce the intermittency of solar and offer new value propositions, potentially disrupting traditional solar power purchase agreement (PPA) models.
- Emergence of Alternative Semiconductor Materials: The growing adoption and technological maturity of alternative semiconductor materials such as Gallium Nitride (GaN) and Silicon Carbide (SiC) presented a clear threat to SunEdison's core silicon wafer business. These materials offered superior performance characteristics (e.g., higher power density, efficiency, operating temperatures) for specific high-growth applications like power electronics, electric vehicles, and RF devices, threatening to displace silicon wafers in these key market segments.
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Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 158.34 |
| Mkt Cap | 14.4 |
| Rev LTM | 3,002 |
| Op Inc LTM | 804 |
| FCF LTM | 637 |
| FCF 3Y Avg | 48 |
| CFO LTM | 1,084 |
| CFO 3Y Avg | 689 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 25.3% |
| Rev Chg 3Y Avg | 14.1% |
| Rev Chg Q | 18.2% |
| QoQ Delta Rev Chg LTM | 4.5% |
| Op Mgn LTM | 14.8% |
| Op Mgn 3Y Avg | 15.5% |
| QoQ Delta Op Mgn LTM | 1.3% |
| CFO/Rev LTM | 28.6% |
| CFO/Rev 3Y Avg | 24.3% |
| FCF/Rev LTM | 21.2% |
| FCF/Rev 3Y Avg | 7.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 14.4 |
| P/S | 5.5 |
| P/EBIT | 11.9 |
| P/E | 19.9 |
| P/CFO | 18.8 |
| Total Yield | 2.5% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.0% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.8% |
| 3M Rtn | 17.0% |
| 6M Rtn | 5.8% |
| 12M Rtn | 42.4% |
| 3Y Rtn | 5.9% |
| 1M Excs Rtn | 2.6% |
| 3M Excs Rtn | 19.6% |
| 6M Excs Rtn | 4.4% |
| 12M Excs Rtn | 13.7% |
| 3Y Excs Rtn | -61.3% |
Price Behavior
| Market Price | $1.63 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | -80.1% | |
| 50 Days | 200 Days | |
| DMA Price | $1.61 | $1.45 |
| DMA Trend | up | up |
| Distance from DMA | 1.0% | 12.2% |
| 3M | 1YR | |
| Volatility | 219.3% | 148.5% |
| Downside Capture | -0.51 | 1.62 |
| Upside Capture | 179.41 | 105.10 |
| Correlation (SPY) | -0.8% | 23.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.46 | 0.36 | 0.11 | 1.85 | 0.74 | 1.10 |
| Up Beta | -3.63 | 0.80 | -0.92 | 4.12 | -1.90 | -1.11 |
| Down Beta | -0.38 | 9.52 | 5.08 | 4.29 | 3.58 | 3.29 |
| Up Capture | 772% | 254% | 169% | 216% | 11% | -7% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 12 | 19 | 25 | 48 | 93 | 278 |
| Down Capture | -724% | -959% | -641% | -50% | 177% | 113% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 9 | 22 | 35 | 73 | 144 | 430 |
[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 SUNE | |
|---|---|---|---|---|
| SUNE | -73.1% | 152.4% | -0.12 | - |
| Sector ETF (XLK) | 59.7% | 25.3% | 1.80 | 6.0% |
| Equity (SPY) | 31.2% | 17.3% | 1.47 | 1.1% |
| Gold (GLD) | 60.1% | 27.8% | 1.69 | -19.5% |
| Commodities (DBC) | 29.8% | 16.6% | 1.58 | -4.3% |
| Real Estate (VNQ) | 21.3% | 15.2% | 1.07 | 5.6% |
| Bitcoin (BTCUSD) | -4.3% | 43.7% | 0.02 | 3.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SUNE | |
|---|---|---|---|---|
| SUNE | -93.6% | 183.8% | -0.63 | - |
| Sector ETF (XLK) | 16.5% | 24.7% | 0.60 | 11.5% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 10.6% |
| Gold (GLD) | 22.1% | 17.8% | 1.02 | -1.5% |
| Commodities (DBC) | 11.8% | 18.8% | 0.52 | 7.7% |
| Real Estate (VNQ) | 3.7% | 18.8% | 0.10 | 7.0% |
| Bitcoin (BTCUSD) | 4.3% | 56.5% | 0.30 | 8.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SUNE | |
|---|---|---|---|---|
| SUNE | -74.8% | 136.0% | -0.38 | - |
| Sector ETF (XLK) | 21.7% | 24.3% | 0.82 | 11.1% |
| Equity (SPY) | 13.8% | 17.9% | 0.66 | 10.6% |
| Gold (GLD) | 14.2% | 15.9% | 0.74 | -1.4% |
| Commodities (DBC) | 8.6% | 17.6% | 0.41 | 7.2% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.22 | 7.7% |
| Bitcoin (BTCUSD) | 67.6% | 66.9% | 1.07 | 5.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/19/2026 | 20.2% | 60.1% | |
| 8/18/2025 | -7.6% | -3.8% | -10.1% |
| 5/16/2025 | -2.3% | -14.2% | -6.2% |
| 3/28/2024 | -7.4% | -1.5% | -9.0% |
| 11/13/2023 | 1.0% | -8.5% | -5.2% |
| 8/11/2023 | -8.1% | -19.4% | -22.4% |
| 3/31/2023 | 11.6% | -2.5% | -3.2% |
| 2/9/2022 | 0.9% | 9.6% | -4.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 5 | 3 | 1 |
| # Negative | 4 | 6 | 7 |
| Median Positive | 4.6% | 9.8% | 21.0% |
| Median Negative | -7.5% | -6.1% | -6.2% |
| Max Positive | 20.2% | 60.1% | 21.0% |
| Max Negative | -8.1% | -19.4% | -22.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/23/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/15/2025 | 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 | 08/19/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 04/14/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/22/2022 | 10-Q |
| 03/31/2022 | 05/23/2022 | 10-Q |
External Quote Links
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| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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