T1 Energy (TE)
Market Price (8/26/2026): $4.62 | Market Cap: $1.3 BilSector: Industrials | Industry: Electrical Components & Equipment
T1 Energy (TE)
Market Price (8/26/2026): $4.62Market Cap: $1.3 BilSector: IndustrialsIndustry: Electrical Components & Equipment
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 427% Megatrend and thematic driversMegatrends include Renewable Energy Transition, and Smart Grids & Grid Modernization. Themes include Battery Storage & Grid Modernization, Smart Metering, Show more. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -172 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -17% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 54% Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 337x Stock price has recently run up significantly12M Rtn12 month market price return is 187% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -19% 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 -34% High stock price volatilityVol 12M is 132% Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 24% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 427% |
| Megatrend and thematic driversMegatrends include Renewable Energy Transition, and Smart Grids & Grid Modernization. Themes include Battery Storage & Grid Modernization, Smart Metering, Show more. |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -172 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -17% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 54% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 337x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 187% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -19% |
| 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 -34% |
| High stock price volatilityVol 12M is 132% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 24% |
Qualitative Assessment
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T1 Energy (TE) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Continued Net Losses and Substantial Cash Burn Persisted in Fiscal Q2 2026.
T1 Energy reported a net loss of $36.9 million from continuing operations for fiscal Q2 2026, ending June 30, 2026. The company also registered a half-year net loss of $63.96 million and significant negative free cash flow of approximately -$131.2 million, indicating ongoing challenges in achieving profitability and a high rate of cash consumption to fund its strategic growth initiatives.
2. Production at the G2_Austin Solar Cell Facility Faced Delays.
The projected timeline for the first solar cell production at T1 Energy's G2_Austin facility was revised, with the company now expecting it in fiscal Q1 2027 instead of the previously targeted before year-end 2026. This postponement affects a critical component of the company's domestic vertical integration strategy and likely contributed to investor apprehension regarding the execution of its long-term plans.
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T1 Energy (TE) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Continued Net Losses and Substantial Cash Burn Persisted in Fiscal Q2 2026.
T1 Energy reported a net loss of $36.9 million from continuing operations for fiscal Q2 2026, ending June 30, 2026. The company also registered a half-year net loss of $63.96 million and significant negative free cash flow of approximately -$131.2 million, indicating ongoing challenges in achieving profitability and a high rate of cash consumption to fund its strategic growth initiatives.
2. Production at the G2_Austin Solar Cell Facility Faced Delays.
The projected timeline for the first solar cell production at T1 Energy's G2_Austin facility was revised, with the company now expecting it in fiscal Q1 2027 instead of the previously targeted before year-end 2026. This postponement affects a critical component of the company's domestic vertical integration strategy and likely contributed to investor apprehension regarding the execution of its long-term plans.
3. Financing Activities, Including a Significant Equity Offering and Convertible Notes, Raised Dilution Concerns.
T1 Energy's capital-intensive expansion plans necessitated further financing, including a US$75.57 million follow-on equity offering during the period and a $120 million private placement of convertible notes due 2031 in July 2026. These funding activities, while crucial for expansion, introduced concerns among investors regarding potential share dilution and the company's reliance on external capital to support its growth.
4. Analyst Downgrades and Reduced Price Targets Negatively Impacted Sentiment.
The market's perception of T1 Energy was further affected by revisions from several financial analysts. Notably, Needham & Company LLC decreased its price target for TE from $8.00 to $7.00 in July 2026, and Wall Street Zen downgraded the stock from a "sell" to a "strong sell" rating. Such negative adjustments by analysts can lead to decreased investor confidence and contribute to downward pressure on the stock price.
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Stock Movement Drivers
Fundamental Drivers
The -3.1% change in TE stock from 4/30/2026 to 8/25/2026 was primarily driven by a -20.9% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302026 | 8252026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.80 | 4.65 | -3.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 755 | 997 | 32.0% |
| P/S Multiple | 1.4 | 1.3 | -7.3% |
| Shares Outstanding (Mil) | 222 | 280 | -20.9% |
| Cumulative Contribution | -3.1% |
Market Drivers
4/30/2026 to 8/25/2026| Return | Correlation | |
|---|---|---|
| TE | -3.1% | |
| Market (SPY) | 6.6% | 51.9% |
| Sector (XLI) | 2.2% | 40.7% |
Fundamental Drivers
The -44.2% change in TE stock from 1/31/2026 to 8/25/2026 was primarily driven by a -61.1% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8252026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.33 | 4.65 | -44.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 400 | 997 | 149.4% |
| P/S Multiple | 3.4 | 1.3 | -61.1% |
| Shares Outstanding (Mil) | 161 | 280 | -42.5% |
| Cumulative Contribution | -44.2% |
Market Drivers
1/31/2026 to 8/25/2026| Return | Correlation | |
|---|---|---|
| TE | -44.2% | |
| Market (SPY) | 11.0% | 41.7% |
| Sector (XLI) | 8.1% | 31.3% |
Fundamental Drivers
The 290.8% change in TE stock from 7/31/2025 to 8/25/2026 was primarily driven by a 1667.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312025 | 8252026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.19 | 4.65 | 290.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 56 | 997 | 1667.7% |
| P/S Multiple | 3.3 | 1.3 | -60.3% |
| Shares Outstanding (Mil) | 156 | 280 | -44.3% |
| Cumulative Contribution | 290.8% |
Market Drivers
7/31/2025 to 8/25/2026| Return | Correlation | |
|---|---|---|
| TE | 290.8% | |
| Market (SPY) | 22.2% | 32.8% |
| Sector (XLI) | 18.6% | 21.0% |
Fundamental Drivers
nullnull
Market Drivers
7/31/2023 to 8/25/2026| Return | Correlation | |
|---|---|---|
| TE | ||
| Market (SPY) | 73.2% | 34.0% |
| Sector (XLI) | 68.3% | 26.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TE Return | - | - | - | - | 391% | -35% | 218% |
| Peers Return | -13% | 13% | -35% | -55% | 49% | -21% | -66% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| TE Win Rate | - | - | - | - | 60% | 50% | |
| Peers Win Rate | 38% | 52% | 37% | 35% | 50% | 38% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TE Max Drawdown | - | - | - | - | - | -69% | |
| Peers Max Drawdown | -49% | -44% | -65% | -68% | -58% | -56% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FSLR, ENPH, SEDG, CSIQ, STEM.
[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 8/25/2026 (YTD)
How Low Can It Go
TE has limited trading history. Below is the Industrials sector ETF (XLI) in its place.
| Event | XLI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.8% | -18.8% |
| % Gain to Breakeven | 18.8% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -11.7% | -9.5% |
| % Gain to Breakeven | 13.2% | 10.5% |
| Time to Breakeven | 45 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -20.1% | -24.5% |
| % Gain to Breakeven | 25.1% | 32.4% |
| Time to Breakeven | 125 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.6% | -33.7% |
| % Gain to Breakeven | 71.2% | 50.9% |
| Time to Breakeven | 231 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.7% | -19.2% |
| % Gain to Breakeven | 31.1% | 23.8% |
| Time to Breakeven | 120 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -11.1% | -12.2% |
| % Gain to Breakeven | 12.5% | 13.9% |
| Time to Breakeven | 51 days | 62 days |
In The Past
State Street Industrial Select Sector SPDR ETF's stock fell -15.8% during the 2025 US Tariff Shock. Such a loss loss requires a 18.8% gain to breakeven.
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TE has limited trading history. Below is the Industrials sector ETF (XLI) in its place.
| Event | XLI | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -20.1% | -24.5% |
| % Gain to Breakeven | 25.1% | 32.4% |
| Time to Breakeven | 125 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.6% | -33.7% |
| % Gain to Breakeven | 71.2% | 50.9% |
| Time to Breakeven | 231 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.7% | -19.2% |
| % Gain to Breakeven | 31.1% | 23.8% |
| Time to Breakeven | 120 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -22.5% | -17.9% |
| % Gain to Breakeven | 29.0% | 21.8% |
| Time to Breakeven | 114 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -60.5% | -53.4% |
| % Gain to Breakeven | 153.2% | 114.4% |
| Time to Breakeven | 700 days | 1085 days |
In The Past
State Street Industrial Select Sector SPDR ETF's stock fell -15.8% during the 2025 US Tariff Shock. Such a loss loss requires a 18.8% 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 T1 Energy (TE)
TECO Energy, Inc. (symbol: TE) is a regulated utility holding company primarily engaged in providing essential electric and natural gas services. The company's business model centers on generating, transmitting, and distributing electricity, alongside the purchase and distribution of natural gas to a diverse range of customers.
TE's main products and services include electric power generation and delivery, supported by a significant 4,730-megawatt winter peak capacity, serving approximately 719,000 retail electric customers and other resellers in West Central Florida. Concurrently, the company operates extensive natural gas distribution systems. It provides gas to roughly 361,000 residential, commercial, industrial, and power generation clients in Florida, and additionally serves about 516,000 primarily residential gas customers across 23 counties in New Mexico. Through these operations, TECO Energy ensures the reliable delivery of energy to over 1.5 million electric and gas customers.
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Here are 1-3 brief analogies for T1 Energy (symbol: TE):
- TE is like a regional Duke Energy or Southern Company, providing electricity and natural gas.
- Think of TE as the Con Edison for West Central Florida and parts of New Mexico, supplying essential power and gas.
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- Electric Utility Service: Generates, transmits, distributes, and sells electric energy to retail and wholesale customers in West Central Florida.
- Natural Gas Utility Service: Purchases, distributes, and sells natural gas to residential, commercial, industrial, and power generation customers in Florida and New Mexico.
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Residential and Retail Customers
This includes individual households and small consumers of electricity in West Central Florida, and natural gas customers in Florida and New Mexico. *Commercial and Industrial Customers
This category encompasses businesses and industries that purchase natural gas services in Florida. *Utility and Power Generation Customers
This includes other utility companies and entities that resell electricity or utilize natural gas for electric power generation in Florida.AI Analysis | Feedback
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Archie Collins, President & Chief Executive Officer
Archie Collins has over 30 years of experience in the energy industry. He began his career at Nova Scotia Power in 1990. Prior to joining Tampa Electric, he held leadership roles at Nova Scotia Power and Emera Energy, and served as President and Chief Executive Officer of Grand Bahama Power Co., and President and Chief Operating Officer of Emera Caribbean. He joined Tampa Electric as Chief Operating Officer in January 2018 and became President and CEO in May 2021. In 2025, his duties expanded to include oversight and responsibility for Corporate Safety for Emera Inc. Mr. Collins is a professional chemical engineer, holding a Bachelor of Engineering from St. Francis Xavier University and a Bachelor of Chemical Engineering from Dalhousie University. He serves on the boards of the Florida State Fair Authority, Florida Chamber of Commerce, Tampa Bay Economic Development Council, Florida Council of 100, Enterprise Florida, Southeastern Electric Exchange, The Association of Edison Illuminating Companies, Florida Reliability Coordinating Council, and Tampa Theatre.
Greg Blunden, Senior Vice President of Finance and Accounting and Chief Financial Officer
Greg Blunden is the Senior Vice President of Finance and Accounting and Chief Financial Officer of TECO Energy and CFO of Emera Inc. He joined Emera in 2000 and has held financial leadership roles at Emera Inc., Emera Maine, and Nova Scotia Power. Mr. Blunden has gained valuable experience and industry insight into various aspects of Emera's business, including corporate finance, business development, utility operations, customer service, renewable energy, and regulatory policy. He previously served as Emera's Vice President of Corporate Strategy & Planning and Executive Vice President of Customer, Business & Financial Services at Nova Scotia Power. He is a Chartered Professional Accountant and a graduate of Mount Allison University.
Stephanie Smith, Vice President, State & Regional Affairs
Stephanie Smith is Vice President of State and Regional Affairs for Tampa Electric and Peoples Gas. She is a seasoned professional with over 20 years of experience in public affairs and governmental relations, including developing strategies to advance legislation and navigate regulatory issues on behalf of Fortune 500 companies. Ms. Smith joined TECO in 2022. Prior to that, she worked for two Florida gubernatorial administrations, among other notable positions. She holds a Bachelor of Science in Political Science from Florida State University and serves as the chair of CareerSource Florida's board of directors.
Carlos Aldazabal, Vice President Energy Supply
Carlos Aldazabal is Vice President of Energy Supply for Tampa Electric. Since joining Tampa Electric in 1999, he has held multiple leadership positions in areas such as Accounting, Regulatory Affairs for Tampa Electric and Peoples Gas, Investor Relations, and Transmission Engineering and Operations. Most recently, he served as Director of Transmission Engineering and Operations, as well as Support Services. Mr. Aldazabal received both his Bachelor of Science in Accounting and Master of Accountancy from the University of South Florida and is a Certified Public Accountant. He serves on the board of The Florida Aquarium, and on the board of trustees of the National Hispanic Energy Council and The Tampa Museum of Art.
David Nicholson, Vice President, Legal, General Counsel and Chief Ethics & Compliance Officer
David M. Nicholson is Vice President of Legal, General Counsel, and Chief Ethics and Compliance Officer. He is responsible for legal affairs, federal governmental affairs, real estate, and ethics and compliance. Prior to joining TECO in 1999, Mr. Nicholson was a shareholder at the Tampa law firm of Macfarlane Ferguson & McMullen, where he represented Peoples Gas before its acquisition by TECO in 1997. He represented TECO in its $10 billion sale to Emera in 2016. He also worked on the development of solar sites and two of the first renewable natural gas facilities in Florida. Mr. Nicholson received his Bachelor of Science and graduated with honors from the University of Florida College of Law. While in law school, he attended the University of Glasgow, Scotland, for a year on a Rotary Ambassadorial Scholarship. He serves on the boards of the Straz Center for Performing Arts and Florida Tax Watch. He is a former president of the Hillsborough County Bar Foundation and the University Club of Tampa.
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- Distributed Energy Resources: The widespread adoption and increasing affordability of rooftop solar panels combined with battery storage systems allow residential and commercial customers to generate and store their own electricity, reducing their reliance on TE's grid and central generation. This emerging trend directly threatens TE's revenue from electricity sales and could lead to decreased utilization of its transmission and distribution infrastructure.
- Electrification of Buildings and Transportation: Government mandates and technological advancements promoting the switch from natural gas to electricity for heating, cooking, and vehicle propulsion pose a direct threat to TE's significant natural gas distribution business. As customers adopt electric heat pumps, induction cooktops, and electric vehicles, demand for natural gas declines, potentially stranding TE's extensive gas pipeline infrastructure and eroding a substantial portion of its customer base and revenue.
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Addressable Markets for T1 Energy (TE)
T1 Energy (TECO Energy, Inc.) operates in the regulated electric utility sector in West Central Florida, and the regulated gas utility and natural gas distribution sectors in Florida and New Mexico.Electric Utility Market in West Central Florida
The total retail sales of electricity in Florida were 255,095,458 megawatthours in 2024. Tampa Electric Co. holds approximately 7% of the electricity market share in Florida. However, a specific market size in U.S. dollars for the electric utility market in West Central Florida is not readily available.Gas Utility Market in Florida
The value of natural gas delivered to consumers in Florida was $6.15 billion in 2015. More recently, Peoples Gas System, a subsidiary of TECO Energy, had annual therm sales of approximately $1.98 billion in Florida in 2023.Natural Gas Distribution Market in New Mexico
The addressable market size for natural gas distribution in New Mexico is estimated to be $519.4 million in 2026. This market includes approximately 31 businesses and serves about 505 employees in the industry in 2026. The value of natural gas delivered to consumers in New Mexico was $753 million in 2015.AI Analysis | Feedback
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Peer Outperformance in Electrical Components & Equipment
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 19.0% | 119.2% | 190.9% | CDNL 3230% · STRL 2054% · FIX 2053% |
| Marine Transportation | 4 | 59.1% | 57.6% | 149.0% | MATX 214% · KEX 156% · SFL 142% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 10.7% | 63.8% | 120.0% | CAT 319% · ALSN 278% · WAB 247% |
| Aerospace & Defense | 55 | 4.9% | 61.3% | 76.1% | DFNS 1225% · ATI 1114% · FTAI 906% |
| Passenger Ground Transportation | 3 | -5.2% | 72.7% | 72.1% | UBER 98% · CAR 72% · LYFT -64% |
| Industrial Machinery & Supplies & Components | 71 | 9.0% | 55.2% | 53.4% | CRS 1467% · PSIX 841% · GHM 666% |
| Rail Transportation | 7 | 37.3% | 73.9% | 50.3% | FSTR 118% · CSX 66% · UNP 57% |
| Cargo Ground Transportation | 16 | 36.1% | 10.3% | 42.3% | XPO 264% · R 251% · CVLG 228% |
| Trading Companies & Distributors | 18 | 1.4% | 36.6% | 34.0% | DXPE 536% · AIT 295% · URI 215% |
| Diversified Support Services | 34 | 8.8% | 33.8% | 32.6% | LIME 4829% · TH 366% · WLFC 345% |
| Building Products | 33 | -8.9% | 14.6% | 24.7% | LMB 419% · GFF 418% · PPIH 282% |
| Electrical Components & Equipment ← | 41 | 25.5% | 52.6% | 24.5% | POWL 2355% · BE 934% · ELVA 874% |
| Office Services & Supplies | 10 | 15.5% | 23.2% | 2.9% | TILE 185% · PBI 184% · EBF 59% |
| Environmental & Facilities Services | 28 | -7.7% | 15.9% | 1.9% | CECO 841% · ADUR 632% · NVRI 328% |
| Industrial Conglomerates | 18 | 14.8% | 21.3% | -2.3% | RCMT 735% · CSW 151% · TTI 142% |
| Research & Consulting Services | 12 | -7.8% | -19.1% | -13.3% | HURN 225% · CRAI 99% · FCN 8% |
| Agricultural & Farm Machinery | 17 | -2.6% | -4.7% | -15.2% | BLBD 181% · DE 77% · GENC 66% |
| Data Processing & Outsourced Services | 6 | -28.6% | -8.9% | -23.4% | EXLS 58% · BR 19% · G -22% |
| Passenger Airlines | 11 | 11.0% | -0.2% | -24.2% | LTM 2472% · UAL 150% · SKYW 120% |
| Human Resource & Employment Services | 21 | 9.0% | -18.6% | -34.2% | BBSI 91% · ADP 52% · KFY 34% |
| Air Freight & Logistics | 12 | -10.8% | -22.5% | -37.0% | CHRW 80% · FDX 72% · EXPD 63% |
| Security & Alarm Services | 10 | -37.6% | -15.4% | -42.4% | CIX 116% · MG 100% · BCO 54% |
| Airport Services | 3 | -69.5% | -70.1% | -57.0% | JOBY -37% · ASLE -57% · UP -100% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| T1 Energy Stock (+9%): Carbon Capture Deal Ignites Re-Rate | 01/14/2026 | |
| T1 Energy Earnings Notes | 12/16/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 22.08 |
| Mkt Cap | 1.6 |
| Rev LTM | 1,330 |
| Op Inc LTM | 38 |
| FCF LTM | 49 |
| FCF 3Y Avg | -98 |
| CFO LTM | 63 |
| CFO 3Y Avg | -35 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.4% |
| Rev Chg 3Y Avg | -18.3% |
| Rev Chg Q | -6.8% |
| QoQ Delta Rev Chg LTM | -1.4% |
| Op Inc Chg LTM | 49.9% |
| Op Inc Chg 3Y Avg | 5.5% |
| Op Mgn LTM | -2.8% |
| Op Mgn 3Y Avg | 1.9% |
| QoQ Delta Op Mgn LTM | 2.4% |
| CFO/Rev LTM | 8.2% |
| CFO/Rev 3Y Avg | -4.5% |
| FCF/Rev LTM | 5.8% |
| FCF/Rev 3Y Avg | -11.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Manufacturing and subsequent sale of photovoltaic (PV) solar modules | 755 | 3 | |
| Single Segment | 0 | ||
| Total | 755 | 3 | 0 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Manufacturing and subsequent sale of photovoltaic (PV) solar modules | -321 | -67 |
| Total | -321 | -67 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Single Segment | 1,336 | 732 | 828 | 627 | 16 |
| Total | 1,336 | 732 | 828 | 627 | 16 |
Price Behavior
| Market Price | $4.65 | |
| Market Cap ($ Bil) | 1.3 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | -61.4% | |
| 50 Days | 200 Days | |
| DMA Price | $6.34 | $4.20 |
| DMA Trend | up | down |
| Distance from DMA | -26.7% | 10.7% |
| 3M | 1YR | |
| Volatility | 121.4% | 132.2% |
| Downside Capture | 623.54 | 258.84 |
| Upside Capture | 193.66 | 329.16 |
| Correlation (SPY) | 56.7% | 33.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.92 | 5.00 | 5.52 | 3.69 | 3.23 | 0.85 |
| Up Beta | 13.04 | 7.33 | 7.87 | 1.96 | 2.53 | 0.63 |
| Down Beta | 4.38 | 5.15 | 6.68 | 5.77 | 5.22 | 0.55 |
| Up Capture | -309% | 138% | 500% | 374% | 1043% | 228% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 6 | 16 | 25 | 54 | 121 | 166 |
| Down Capture | 715% | 456% | 360% | 259% | 158% | 102% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 16 | 27 | 38 | 71 | 126 | 181 |
[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 TE | |
|---|---|---|---|---|
| TE | 193.7% | 131.9% | 1.42 | - |
| Sector ETF (XLI) | 17.8% | 17.1% | 0.79 | 20.9% |
| Equity (SPY) | 19.8% | 12.8% | 1.14 | 33.2% |
| Gold (GLD) | 38.0% | 28.8% | 1.11 | 18.8% |
| Commodities (DBC) | 38.0% | 20.3% | 1.47 | -7.1% |
| Real Estate (VNQ) | 11.9% | 13.6% | 0.58 | -3.0% |
| Bitcoin (BTCUSD) | -32.0% | 44.0% | -0.75 | 24.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TE | |
|---|---|---|---|---|
| TE | 28.1% | 122.0% | 1.25 | - |
| Sector ETF (XLI) | 13.0% | 17.6% | 0.57 | 26.0% |
| Equity (SPY) | 13.0% | 17.2% | 0.58 | 34.0% |
| Gold (GLD) | 20.7% | 18.6% | 0.90 | 13.2% |
| Commodities (DBC) | 10.1% | 19.6% | 0.40 | -0.1% |
| Real Estate (VNQ) | 2.5% | 18.9% | 0.03 | 9.4% |
| Bitcoin (BTCUSD) | 12.2% | 52.7% | 0.41 | 27.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TE | |
|---|---|---|---|---|
| TE | 13.2% | 122.0% | 1.25 | - |
| Sector ETF (XLI) | 13.6% | 20.0% | 0.60 | 26.0% |
| Equity (SPY) | 15.1% | 17.9% | 0.72 | 34.0% |
| Gold (GLD) | 12.9% | 16.3% | 0.65 | 13.2% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | -0.1% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 9.4% |
| Bitcoin (BTCUSD) | 64.0% | 66.1% | 1.04 | 27.5% |
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Earnings Returns History
Updated 8/21/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/12/2026 | -10.4% | -15.0% | |
| 5/12/2026 | -3.1% | 15.9% | 28.0% |
| 11/14/2025 | -3.7% | -22.1% | 55.9% |
| 8/20/2025 | -8.9% | 10.3% | 27.4% |
| 5/15/2025 | -18.1% | -34.2% | -14.2% |
| 3/17/2025 | 5.9% | -2.0% | -27.0% |
| SUMMARY STATS | |||
| # Positive | 1 | 2 | 3 |
| # Negative | 5 | 4 | 2 |
| Median Positive | 5.9% | 13.1% | 28.0% |
| Median Negative | -8.9% | -18.5% | -20.6% |
| Max Positive | 5.9% | 15.9% | 55.9% |
| Max Negative | -18.1% | -34.2% | -27.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/12/2026 | -10.4% | -15.0% | |
| 5/12/2026 | -3.1% | 15.9% | 28.0% |
| 11/14/2025 | -3.7% | -22.1% | 55.9% |
| 8/20/2025 | -8.9% | 10.3% | 27.4% |
| 5/15/2025 | -18.1% | -34.2% | -14.2% |
| 3/17/2025 | 5.9% | -2.0% | -27.0% |
| SUMMARY STATS | |||
| # Positive | 1 | 2 | 3 |
| # Negative | 5 | 4 | 2 |
| Median Positive | 5.9% | 13.1% | 28.0% |
| Median Negative | -8.9% | -18.5% | -20.6% |
| Max Positive | 5.9% | 15.9% | 55.9% |
| Max Negative | -18.1% | -34.2% | -27.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/12/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/19/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/12/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/19/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/11/2022 | 10-Q |
| 12/31/2021 | 03/09/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
Recent Forward Guidance
Updated 8/13/2026Latest: Q2 2026 Earnings Reported 8/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 2026 Production | 3.10 Bil | 3.65 Bil | 4.20 Bil | -13.1% | Lowered | Guidance: 4.20 Bil for 2026 | |
| 2026 Capital Expenditures | 510.00 Mil | 0 | Affirmed | Guidance: 510.00 Mil for 2026 | |||
Prior: Q1 2026 Earnings Reported 5/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Production Guidance | 3.10 Bil | 3.65 Bil | 4.20 Bil | Affirmed | |||
| 2027 Customer Demand Coverage | 1 | ||||||
Q3 2025 Earnings Reported 11/14/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 EBITDA | 25.00 Mil | 37.50 Mil | 50.00 Mil | 0 | Affirmed | Guidance: 37.50 Mil for 2025 | |
| 2026 Capital Expenditure | 400.00 Mil | 412.50 Mil | 425.00 Mil | ||||
| 2026 Annual Run-rate EBITDA | 375.00 Mil | 412.50 Mil | 450.00 Mil | ||||
Insider Activity
Updated 7/6/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Trina, Solar (schweiz) AG | Direct | Sell | 5262026 | 8.14 | 9,500,000 | 77,293,020 | 249,393,365 | Form | |
| 2 | Trina, Solar (schweiz) AG | Direct | Sell | 5262026 | 8.69 | 13,000,000 | 113,018,494 | 349,076,433 | Form | |
| 3 | Slettemoen, Tore Ivar | See footnote | Sell | 9242025 | 1.92 | 376,106 | 722,124 | 7,882,477 | Form | |
| 4 | Slettemoen, Tore Ivar | See footnote | Sell | 9242025 | 1.97 | 384,349 | 757,168 | 8,828,679 | Form | |
| 5 | Slettemoen, Tore Ivar | See footnote | Sell | 9152025 | 1.81 | 188,420 | 341,040 | 8,807,301 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Trina, Solar (schweiz) AG | Direct | Sell | 5262026 | 8.14 | 9,500,000 | 77,293,020 | 249,393,365 | Form | |
| 2 | Trina, Solar (schweiz) AG | Direct | Sell | 5262026 | 8.69 | 13,000,000 | 113,018,494 | 349,076,433 | Form | |
| 3 | Slettemoen, Tore Ivar | See footnote | Sell | 9242025 | 1.92 | 376,106 | 722,124 | 7,882,477 | Form | |
| 4 | Slettemoen, Tore Ivar | See footnote | Sell | 9242025 | 1.97 | 384,349 | 757,168 | 8,828,679 | Form | |
| 5 | Slettemoen, Tore Ivar | See footnote | Sell | 9152025 | 1.81 | 188,420 | 341,040 | 8,807,301 | Form | |
| 6 | Slettemoen, Tore Ivar | See footnote | Sell | 9152025 | 1.97 | 26,114 | 51,445 | 9,957,034 | Form |
Investor Activity (13F)
Updated Aug 26, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Electron Capital Partners, LLC | $26.0 Mil | 1.2% | 44 | ADD +69.4% | 13F |
| Situational Awareness Partners LP | $43.9 Mil | 1.1% | 26 | New | 13F |
| Situational Awareness LP | $43.9 Mil | 1.1% | 26 | New | 13F |
| Southpoint Capital Advisors LP | $26.3 Mil | 0.5% | 41 | Hold | 13F |
| Slate Path Capital LP | $27.6 Mil | 0.4% | 44 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Situational Awareness Partners LP | $43.9 Mil | 1.1% | 26 | New | 13F |
| Situational Awareness LP | $43.9 Mil | 1.1% | 26 | New | 13F |
| Slate Path Capital LP | $27.6 Mil | 0.4% | 44 | New | 13F |
| Southpoint Capital Advisors LP | $26.3 Mil | 0.5% | 41 | Hold | 13F |
| Electron Capital Partners, LLC | $26.0 Mil | 1.2% | 44 | ADD +69.4% | 13F |
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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