What is Orion Energy Systems' operating income?

Orion Energy Systems' total operating income in 2026 was -$1.64 million, based on the following breakdown: Total Gross Profit: $28.09 million Total Operating Expenses: $29.74 million

Orion Energy Systems (OESX) Financials

$10.41 -0.57 (-5.19%)

As of 04:00 PM Eastern

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Annual Income Statements for Orion Energy Systems

This table shows Orion Energy Systems' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-20	-12	-13	-6.67	12	26	6.09	-34	-12	-12	-3.16
Consolidated Net Income / (Loss)	-20	-12	-13	-6.67	12	26	6.09	-34	-12	-12	-3.16
Net Income / (Loss) Continuing Operations	-20	-12	-13	-6.67	12	26	6.09	-34	-12	-12	-3.16
Total Pre-Tax Income	-20	-13	-13	-6.66	13	6.52	8.25	-16	-12	-12	-3.10
Total Operating Income	-20	-13	-13	-6.16	13	6.84	8.39	-16	-11	-11	-1.64
Total Gross Profit	16	17	15	15	37	30	34	18	21	20	28
Total Revenue	68	70	60	66	151	117	124	77	91	80	86
Operating Revenue	68	70	60	66	151	117	124	77	91	80	86
Total Cost of Revenue	52	53	46	51	114	87	90	60	70	59	58
Operating Cost of Revenue	52	53	46	51	114	87	90	60	70	59	58
Total Operating Expenses	36	30	28	21	24	23	26	33	32	31	30
Selling, General & Admin Expense	17	15	13	10	11	11	12	19	17	18	19
Marketing Expense	11	13	12	9.10	11	10	12	11	13	12	10
Research & Development Expense	1.67	2.00	1.91	1.37	1.72	1.69	1.70	1.85	1.50	1.23	0.95
Impairment Charge	6.02	0.25	0.71	-	-	-	0.00	0.00	0.46	0.00	0.00
Restructuring Charge	-	-	-	-	0.00	0.00	0.51	0.77	0.06	0.00	0.00
Total Other Income / (Expense), net	-0.17	-0.02	-0.16	-0.50	-0.49	-0.32	-0.14	-0.38	-0.81	-1.16	-1.46
Interest Expense	0.30	0.16	0.33	0.49	0.28	0.22	0.08	0.34	0.75	1.03	1.35
Interest & Investment Income	0.13	0.04	0.02	0.01	0.01	0.00	0.00	0.03	0.00	0.01	0.00
Other Income / (Expense), net	0.00	0.11	0.16	-0.02	-0.22	-0.10	-0.06	-0.07	-0.06	-0.14	-0.12
Income Tax Expense	0.04	-0.26	-0.02	0.01	0.16	-20	2.16	18	0.04	0.04	0.06
Basic Earnings per Share	($0.73)	($0.44)	($0.46)	($0.23)	$0.41	$0.85	$0.20	($1.08)	($3.59)	($3.59)	($0.89)
Weighted Average Basic Shares Outstanding	27.63M	28.16M	28.78M	29.43M	30.10M	30.63M	31.02M	31.70M	3.25M	3.28M	3.56M
Diluted Earnings per Share	($0.73)	($0.44)	($0.46)	($0.23)	$0.40	$0.83	$0.19	($1.08)	($3.59)	($3.59)	($0.89)
Weighted Average Diluted Shares Outstanding	27.63M	28.16M	28.78M	29.43M	30.96M	31.30M	31.29M	31.70M	3.25M	3.28M	3.56M

This table shows Orion Energy Systems' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	9/30/2023	12/31/2023	6/30/2024	9/30/2024	12/31/2024	3/31/2024	6/30/2025	9/30/2025	12/31/2025	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-4.39	-2.26	-3.76	-3.63	-1.51	-2.78	-1.24	-0.58	0.16	-10
Consolidated Net Income / (Loss)	-4.39	-2.26	-3.76	-3.63	-1.51	-2.78	-1.24	-0.58	0.16	-10
Net Income / (Loss) Continuing Operations	-4.39	-2.26	-3.76	-3.63	-1.51	-2.78	-1.24	-0.58	0.16	-10
Total Pre-Tax Income	-4.37	-2.26	-3.74	-3.60	-1.51	-2.78	-1.23	-0.57	0.18	-10
Total Operating Income	-4.17	-2.06	-3.43	-3.27	-1.25	-2.87	-1.01	-0.24	0.39	-9.73
Total Gross Profit	4.57	6.37	4.30	4.47	5.75	6.39	5.90	6.18	6.51	1.65
Total Revenue	21	26	20	19	20	32	20	20	21	19
Operating Revenue	21	26	20	19	20	32	20	20	21	19
Total Cost of Revenue	16	20	16	15	14	25	14	14	15	17
Operating Cost of Revenue	16	20	16	15	14	25	14	14	15	17
Total Operating Expenses	8.74	8.43	7.73	7.74	7.00	9.26	6.91	6.42	6.12	11
Selling, General & Admin Expense	5.04	4.91	4.53	4.57	3.86	3.79	4.29	3.81	3.39	6.52
Marketing Expense	3.31	3.17	2.94	2.85	2.86	4.34	2.42	2.38	2.50	4.30
Research & Development Expense	0.38	0.35	0.26	0.33	0.29	0.62	0.21	0.23	0.24	0.55
Total Other Income / (Expense), net	-0.21	-0.19	-0.31	-0.33	-0.26	0.09	-0.22	-0.33	-0.21	-0.41
Interest Expense	0.19	0.19	0.26	0.28	0.26	-0.05	0.17	0.28	0.20	0.37
Interest & Investment Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01
Other Income / (Expense), net	-0.01	0.00	-0.04	-0.05	-0.00	0.04	-0.05	-0.05	-0.01	-0.04
Income Tax Expense	0.02	0.00	0.02	0.02	0.00	-0.00	0.01	0.01	0.02	0.00
Basic Earnings per Share	($0.14)	($0.07)	($0.12)	($1.10)	($0.46)	($0.86)	($0.04)	($0.17)	$0.05	($3.09)
Weighted Average Basic Shares Outstanding	32.50M	32.53M	32.61M	3.28M	3.29M	3.25M	33.32M	3.50M	3.54M	3.28M
Diluted Earnings per Share	($0.14)	($0.07)	($0.12)	($1.10)	($0.46)	($0.86)	($0.04)	($0.17)	$0.04	($3.09)
Weighted Average Diluted Shares Outstanding	32.50M	32.53M	32.61M	3.28M	3.29M	3.25M	33.32M	3.50M	3.64M	3.28M
Basic & Diluted Earnings per Share	-	-	-	-	-	($0.86)	-	-	-	($3.09)
Weighted Average Basic & Diluted Shares Outstanding	32.51M	32.56M	32.74M	32.91M	32.95M	32.57M	35.20M	3.53M	-	33.31M

This table details how cash moves in and out of Orion Energy Systems' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025	3/31/2026
Net Change in Cash & Equivalents	-4.46	1.77	-7.88	-0.70	20	-9.36	-4.93	1.53	-11	0.82	-2.71
Net Cash From Operating Activities	-3.47	-1.90	-4.42	-5.06	20	1.73	-0.11	-2.29	-10	0.60	-1.08
Net Cash From Continuing Operating Activities	-3.42	-1.90	-4.42	-5.04	20	1.73	-0.11	-2.29	-10	0.60	-1.08
Net Income / (Loss) Continuing Operations	-20	-12	-13	-6.67	12	26	6.09	-34	-12	-12	-3.16
Consolidated Net Income / (Loss)	20	-12	-13	-6.67	12	26	6.09	-34	-12	-12	-3.16
Depreciation Expense	3.00	1.45	1.40	1.34	1.20	1.19	1.33	1.37	2.59	2.62	1.78
Non-Cash Adjustments To Reconcile Net Income	8.87	4.38	3.00	0.74	0.89	1.23	1.40	2.43	2.30	2.40	2.64
Changes in Operating Assets and Liabilities, net	3.62	3.57	3.61	-0.99	5.26	-27	-9.22	28	-3.31	7.38	-2.34
Net Cash From Investing Activities	-0.37	1.65	-0.59	-0.45	-0.94	-0.95	-4.92	-6.20	-0.73	0.13	-0.09
Net Cash From Continuing Investing Activities	-0.37	1.65	-0.59	-0.45	-0.94	-0.95	-4.92	-6.20	-0.73	0.13	-0.09
Purchase of Property, Plant & Equipment	-0.40	-0.66	-0.51	-0.38	-0.81	-0.90	-0.52	-0.59	-0.84	-0.10	-0.08
Sale of Property, Plant & Equipment	0.04	2.60	0.00	0.00	0.01	0.01	0.12	0.00	0.11	0.23	0.00
Other Investing Activities, net	-	-	-	-	-	-0.05	-0.01	-0.01	0.00	-0.01	-0.00
Net Cash From Financing Activities	-0.62	2.02	-2.88	4.81	0.62	-10	0.10	10	-0.01	0.09	-1.54
Net Cash From Continuing Financing Activities	-0.62	2.02	-2.88	4.81	0.62	-10	0.10	10	-0.01	0.09	-1.54
Repayment of Debt	-66	-86	-72	-55	-73	-18	-0.02	-0.04	-0.02	-3.92	-12
Repurchase of Common Equity	-0.00	-	-	-	-	-	-	-	0.00	0.00	0.30
Issuance of Debt	66	88	69	60	74	8.00	0.00	10	0.00	4.03	4.25
Issuance of Common Equity	-	-	-	-	-	-	-	-	0.00	0.00	6.14
Other Financing Activities, net	0.07	-0.01	-0.00	-0.01	-0.01	0.15	0.12	0.06	0.00	-0.01	-0.01
Cash Interest Paid	0.19	0.16	0.15	0.18	0.25	0.12	0.07	0.35	0.69	0.96	0.76
Cash Income Taxes Paid	0.02	0.15	0.02	0.01	-0.03	-0.18	-0.20	-0.09	-0.06	-0.03	-0.04

This table details how cash moves in and out of Orion Energy Systems' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	9/30/2023	12/31/2023	6/30/2024	9/30/2024	12/31/2024	3/31/2024	6/30/2025	9/30/2025	12/31/2025	3/31/2025
Net Change in Cash & Equivalents	-4.22	0.94	0.54	-0.32	2.13	-13	-2.41	1.59	-0.43	2.07
Net Cash From Operating Activities	-3.99	1.05	-2.96	0.50	3.76	-11	-0.52	1.82	-0.90	0.19
Net Cash From Continuing Operating Activities	-3.99	1.05	-2.96	0.50	3.76	-11	-0.52	1.82	-0.90	0.19
Net Income / (Loss) Continuing Operations	-4.39	-2.26	-3.76	-3.63	-1.51	-2.78	-1.24	-0.58	0.16	-10
Consolidated Net Income / (Loss)	-4.39	-2.26	-3.76	-3.63	-1.51	-2.78	-1.24	-0.58	0.16	-10
Depreciation Expense	0.36	0.36	0.35	0.33	0.28	1.63	0.24	0.26	0.21	1.91
Non-Cash Adjustments To Reconcile Net Income	0.36	0.33	0.56	0.51	0.22	1.01	0.20	0.34	0.17	1.70
Changes in Operating Assets and Liabilities, net	-0.62	2.32	-0.42	2.98	4.46	-10	-0.01	1.50	-1.61	7.49
Net Cash From Investing Activities	-0.23	-0.10	-0.02	0.18	-0.02	-0.87	-0.06	-0.26	0.25	0.19
Net Cash From Continuing Investing Activities	-0.23	-0.10	-0.02	0.18	-0.02	-0.87	-0.06	-0.26	0.25	0.19
Purchase of Property, Plant & Equipment	-0.24	-0.12	-0.02	-0.01	-0.02	-0.79	-0.06	-0.26	0.25	-0.04
Sale of Property, Plant & Equipment	0.01	0.02	0.00	0.19	-	-0.08	0.00	-	-	0.23
Other Investing Activities, net	-	-	0.00	-0.01	-0.00	0.01	0.00	-0.00	-0.00	-0.00
Net Cash From Financing Activities	-0.00	-0.00	3.52	-1.00	-1.61	-0.92	-1.84	0.03	0.21	1.69
Net Cash From Continuing Financing Activities	-0.00	-0.00	3.52	-1.00	-1.61	-0.92	-1.84	0.03	0.21	1.69
Repayment of Debt	-0.00	-0.00	-0.00	-1.00	-1.61	2.60	-1.84	-1.22	-0.09	-0.78
Issuance of Debt	-	-	3.53	-	-	-3.53	0.00	1.25	-	2.78
Issuance of Common Equity	-	-	-	-	-	-	-	-	-	-0.30
Other Financing Activities, net	0.00	0.00	0.00	-	-	-	0.00	-	-	-0.01
Cash Interest Paid	-	-	-	-	-	-0.08	-	-	-	0.32

This table presents Orion Energy Systems' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025	3/31/2026
Total Assets	71	62	45	56	73	93	87	72	63	52	52
Total Current Assets	49	44	29	41	55	57	51	50	45	35	38
Cash & Equivalents	16	17	9.42	8.73	29	19	14	16	5.16	5.97	3.27
Accounts Receivable	11	9.17	8.74	19	11	17	14	15	19	16	23
Inventories, net	17	14	7.83	13	15	20	20	18	18	11	10
Prepaid Expenses	5.04	2.88	2.47	0.70	0.72	1.08	2.63	1.12	2.86	1.94	1.36
Plant, Property, & Equipment, net	17	14	13	12	12	11	11	10	9.59	8.03	6.11
Total Noncurrent Assets	5.34	4.38	2.98	2.63	5.78	25	24	11	8.75	8.94	7.81
Goodwill	-	-	-	-	-	0.00	0.35	1.48	1.48	1.48	1.48
Intangible Assets	5.05	4.21	2.87	2.47	2.22	1.95	2.40	6.00	4.46	3.38	2.65
Other Noncurrent Operating Assets	0.19	0.18	0.11	0.17	2.80	3.18	3.54	3.26	2.81	4.08	3.68
Total Liabilities & Shareholders' Equity	71	62	45	56	73	93	87	72	63	52	52
Total Liabilities	25	27	22	38	42	35	22	38	41	41	35
Total Current Liabilities	19	18	16	27	27	30	18	24	28	27	27
Short-Term Debt	0.75	0.15	0.08	0.10	0.04	0.01	0.02	0.02	0.00	0.35	0.35
Accounts Payable	12	12	12	20	20	17	9.86	13	18	13	15
Accrued Expenses	6.59	5.99	4.17	7.41	7.23	13	8.43	11	9.44	13	11
Current Deferred Revenue	0.24	0.62	0.50	0.12	0.11	0.09	0.08	0.48	0.26	0.49	0.16
Total Noncurrent Liabilities	5.60	8.21	5.48	11	14	4.38	3.34	14	13	14	8.29
Long-Term Debt	4.02	6.82	4.01	9.28	10	0.04	0.02	10	10	9.97	5.62
Noncurrent Deferred Revenue	1.02	0.94	0.94	0.79	0.72	0.64	0.56	0.49	0.41	0.34	0.00
Other Noncurrent Operating Liabilities	0.56	0.44	0.52	0.64	3.55	3.70	2.76	3.38	2.16	3.43	2.67
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	46	35	23	18	31	58	65	33	23	12	17
Total Preferred & Common Equity	46	35	23	18	31	58	65	33	23	12	17
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	46	35	23	18	31	58	65	33	23	12	17
Common Stock	152	154	155	156	157	157	158	161	162	163	170
Retained Earnings	-70	-82	-95	-102	-89	-63	-57	-91	-103	-115	-118
Treasury Stock	-36	-36	-36	-36	-36	-36	-36	-36	-36	-36	-35

This table presents Orion Energy Systems' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2023	12/31/2023	6/30/2024	9/30/2024	12/31/2024	6/30/2025	9/30/2025	12/31/2025
Total Assets	66	65	60	56	53	49	48	48
Total Current Assets	45	46	42	40	37	33	32	33
Cash & Equivalents	4.03	4.97	5.69	5.37	7.50	3.56	5.16	4.72
Accounts Receivable	18	17	17	18	14	17	15	17
Inventories, net	20	21	16	15	13	10	10	9.87
Prepaid Expenses	3.15	2.47	3.27	1.95	1.73	1.80	1.14	1.36
Plant, Property, & Equipment, net	10	10	9.28	8.66	8.40	7.83	7.82	7.37
Total Noncurrent Assets	10	9.70	8.34	7.64	7.19	8.52	8.07	8.08
Goodwill	1.48	1.48	1.48	1.48	1.48	1.48	1.48	1.48
Intangible Assets	5.46	5.19	4.21	3.97	3.72	3.14	2.90	2.77
Other Noncurrent Operating Assets	3.23	3.02	2.64	2.18	1.99	3.89	3.69	3.83
Total Liabilities & Shareholders' Equity	66	65	60	56	53	49	48	48
Total Liabilities	43	45	41	40	38	38	37	36
Total Current Liabilities	29	31	25	27	27	27	24	24
Short-Term Debt	0.01	0.01	0.26	0.35	0.35	0.35	0.65	0.80
Accounts Payable	16	19	14	14	13	13	14	15
Accrued Expenses	12	12	9.84	12	13	13	9.42	8.72
Current Deferred Revenue	1.86	0.17	0.25	0.36	0.29	0.44	0.34	0.19
Total Noncurrent Liabilities	14	14	16	14	12	12	13	12
Long-Term Debt	10	10	13	12	11	8.13	9.25	9.04
Noncurrent Deferred Revenue	0.45	0.43	0.39	0.38	0.36	0.32	0.30	0.28
Other Noncurrent Operating Liabilities	3.69	3.62	2.26	1.05	0.74	3.21	3.02	2.86
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	23	21	19	16	14	11	11	12
Total Preferred & Common Equity	23	21	19	16	14	11	11	12
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	23	21	19	16	14	11	11	12
Common Stock	161	162	162	163	163	163	163	163
Retained Earnings	-102	-105	-107	-110	-112	-116	-117	-117
Treasury Stock	-	-36	-36	-36	-36	-36	-35	-35

This table displays calculated financial ratios and metrics derived from Orion Energy Systems' official financial filings.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025	3/31/2026
DEI Shares Outstanding	27,754,478.00	28,305,117.00	28,921,170.00	29,576,944.00	30,255,062.00	30,759,953.00	31,092,433.00	32,292,974.00	32,561,601.00	32,952,087.00	3,530,870.00
DEI Adjusted Shares Outstanding	2,775,448.00	2,830,512.00	2,892,117.00	2,957,694.00	3,025,506.00	3,075,995.00	3,109,243.00	3,229,297.00	3,256,160.00	3,295,209.00	3,530,870.00
DEI Earnings Per Adjusted Shares Outstanding	-7.25	-4.34	-4.54	-2.26	4.12	8.50	1.96	-10.63	-3.58	-3.58	-0.90
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.33%	3.80%	-14.12%	9.04%	129.40%	-22.54%	6.46%	-37.79%	17.06%	-11.99%	8.26%
EBITDA Growth	43.41%	36.46%	-7.43%	59.95%	442.34%	-43.05%	18.80%	-240.39%	40.63%	2.04%	100.28%
EBIT Growth	37.62%	37.64%	-3.24%	51.83%	308.72%	-47.77%	23.68%	-292.77%	32.25%	1.29%	83.60%
NOPAT Growth	37.62%	37.12%	-3.62%	52.57%	400.35%	111.74%	-77.40%	-280.62%	32.29%	2.11%	84.50%
Net Income Growth	37.23%	38.94%	-6.84%	49.16%	286.72%	109.71%	-76.69%	-663.80%	66.01%	-1.11%	73.20%
EPS Growth	48.95%	39.73%	-4.55%	50.00%	273.91%	107.50%	-77.11%	-668.42%	66.01%	-1.11%	75.21%
Operating Cash Flow Growth	72.89%	45.21%	-132.00%	-14.56%	502.19%	-91.50%	-106.54%	-1,927.43%	-340.51%	105.94%	-280.13%
Free Cash Flow Firm Growth	106.47%	231.49%	-254.38%	-130.41%	496.51%	-94.47%	-641.35%	312.44%	-163.02%	148.59%	-213.69%
Invested Capital Growth	-28.96%	-28.77%	-27.86%	2.92%	-33.50%	212.79%	30.83%	-46.17%	0.41%	-40.72%	19.09%
Revenue Q/Q Growth	-1.15%	-4.47%	-0.38%	12.65%	2.34%	-1.02%	54.63%	-41.73%	25.70%	-13.64%	0.00%
EBITDA Q/Q Growth	-66.78%	24.58%	35.09%	13.76%	1.70%	55.93%	246.54%	-254.51%	12.11%	-405.98%	0.00%
EBIT Q/Q Growth	-45.28%	21.84%	31.63%	9.72%	2.54%	82.92%	197.29%	-334.05%	4.90%	-182.26%	0.00%
NOPAT Q/Q Growth	-45.28%	22.11%	30.38%	12.80%	1.65%	627.61%	202.90%	-146.42%	4.31%	-183.32%	0.00%
Net Income Q/Q Growth	-44.28%	22.55%	30.75%	8.01%	2.90%	651.19%	185.78%	-255.85%	61.03%	-165.49%	0.00%
EPS Q/Q Growth	-43.14%	24.14%	31.34%	4.17%	5.26%	654.55%	190.48%	-258.82%	61.03%	-165.49%	0.00%
Operating Cash Flow Q/Q Growth	41.33%	-1,712.71%	15.90%	-71.81%	87.89%	307.78%	-105.32%	55.36%	-208.82%	105.45%	0.00%
Free Cash Flow Firm Q/Q Growth	108.90%	-71.27%	-48.65%	-89.15%	98.58%	188.71%	67.17%	-63.51%	-6,909.85%	321.11%	0.00%
Invested Capital Q/Q Growth	-22.69%	-15.12%	1.03%	19.95%	-33.42%	64.39%	44.63%	6.14%	53.10%	-4.28%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	23.65%	24.69%	24.33%	22.13%	24.61%	25.78%	27.26%	22.63%	23.09%	25.38%	32.55%
EBITDA Margin	-23.22%	-14.21%	-17.78%	-6.53%	9.75%	7.17%	8.00%	-18.04%	-9.15%	-10.19%	0.03%
Operating Margin	-29.45%	-17.84%	-21.53%	-9.36%	8.69%	5.85%	6.75%	-20.66%	-11.95%	-13.29%	-1.90%
EBIT Margin	-29.45%	-17.69%	-21.27%	-9.40%	8.55%	5.76%	6.70%	-20.75%	-12.01%	-13.47%	-2.04%
Profit (Net Income) Margin	-29.75%	-17.50%	-21.77%	-10.15%	8.26%	22.37%	4.90%	-44.38%	-12.88%	-14.80%	-3.66%
Tax Burden Percent	100.18%	97.92%	99.89%	100.21%	98.74%	400.95%	73.83%	209.87%	100.35%	100.36%	101.93%
Interest Burden Percent	100.85%	101.02%	102.48%	107.80%	97.88%	96.78%	99.04%	101.90%	106.89%	109.49%	176.21%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	1.26%	-300.95%	26.17%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-32.90%	-29.09%	-42.10%	-23.48%	83.51%	107.25%	13.86%	-28.71%	-27.72%	-34.00%	-6.46%
ROIC Less NNEP Spread (ROIC-NNEP)	15.16%	4.19%	9.38%	77.51%	88.87%	113.96%	14.48%	198.23%	700.79%	-129.30%	-63.51%
Return on Net Nonoperating Assets (RNNOA)	-3.53%	-1.09%	-2.50%	-8.77%	-32.65%	-48.59%	-3.97%	-41.12%	-14.12%	-34.56%	-15.72%
Return on Equity (ROE)	-36.43%	-30.18%	-44.60%	-32.25%	50.86%	58.66%	9.89%	-69.84%	-41.84%	-68.56%	-22.19%
Cash Return on Invested Capital (CROIC)	0.97%	4.51%	-9.73%	-26.36%	123.75%	4.15%	-12.85%	31.31%	-28.13%	17.13%	-23.89%
Operating Return on Assets (OROA)	-25.11%	-18.69%	-23.89%	-12.19%	20.06%	8.14%	9.27%	-20.28%	-16.15%	-18.58%	-3.38%
Return on Assets (ROA)	-25.37%	-18.49%	-24.45%	-13.17%	19.38%	31.60%	6.78%	-43.36%	-17.32%	-20.41%	-6.08%
Return on Common Equity (ROCE)	-36.43%	-30.18%	-44.60%	-32.25%	50.86%	58.66%	9.89%	-69.84%	-41.84%	-68.56%	-22.19%
Return on Equity Simple (ROE_SIMPLE)	-43.77%	-34.66%	-56.05%	-37.14%	40.15%	45.00%	9.36%	-103.28%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-14	-8.77	-9.09	-4.31	13	27	6.20	-11	-7.58	-7.42	-1.15
NOPAT Margin	-20.62%	-12.49%	-15.07%	-6.55%	8.58%	23.46%	4.98%	-14.46%	-8.36%	-9.30%	-1.33%
Net Nonoperating Expense Percent (NNEP)	-48.06%	-33.28%	-51.47%	-100.99%	-5.36%	-6.71%	-0.62%	-226.94%	-728.51%	95.30%	57.05%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-25.86%	-23.28%	-33.40%	-5.09%
Cost of Revenue to Revenue	76.35%	75.31%	75.67%	77.87%	75.39%	74.22%	72.74%	77.37%	76.91%	74.62%	67.45%
SG&A Expenses to Revenue	24.96%	21.05%	21.82%	15.56%	7.41%	9.64%	9.39%	25.18%	18.48%	22.59%	21.66%
R&D to Revenue	2.47%	2.85%	3.16%	2.09%	1.14%	1.44%	1.37%	2.39%	1.65%	1.54%	1.09%
Operating Expenses to Revenue	53.10%	42.53%	45.86%	31.49%	15.92%	19.93%	20.52%	43.29%	35.03%	38.68%	34.45%
Earnings before Interest and Taxes (EBIT)	-20	-12	-13	-6.18	13	6.74	8.33	-16	-11	-11	-1.76
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-16	-9.98	-11	-4.29	15	8.37	9.95	-14	-8.29	-8.12	0.02
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.84	1.58	1.05	1.46	3.61	3.69	1.34	1.97	1.26	2.00	1.86
Price to Tangible Book Value (P/TBV)	0.94	1.79	1.20	1.69	3.88	3.81	1.40	2.54	1.71	3.38	2.47
Price to Revenue (P/Rev)	0.57	0.80	0.41	0.40	0.74	1.83	0.70	0.85	0.31	0.30	0.36
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	8.98	8.19	14.29	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	11.13%	12.21%	7.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.79	1.82	1.06	1.44	7.53	5.03	1.43	2.18	1.21	1.73	1.74
Enterprise Value to Revenue (EV/Rev)	0.41	0.65	0.32	0.41	0.62	1.67	0.58	0.77	0.37	0.35	0.39
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	6.35	23.26	7.30	0.00	0.00	0.00	1,459.43
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	7.23	28.92	8.72	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	7.21	7.11	11.72	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	4.59	112.63	0.00	0.00	0.00	46.93	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	67.76	33.61	0.00	0.00	4.86	183.54	0.00	4.88	0.00	7.52	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.10	0.20	0.17	0.52	0.33	0.00	0.00	0.30	0.44	0.87	0.36
Long-Term Debt to Equity	0.09	0.19	0.17	0.52	0.32	0.00	0.00	0.30	0.44	0.84	0.34
Financial Leverage	-0.23	-0.26	-0.27	-0.11	-0.37	-0.43	-0.27	-0.21	-0.02	0.27	0.25
Leverage Ratio	1.44	1.63	1.82	2.45	2.62	1.86	1.46	1.61	2.42	3.36	3.65
Compound Leverage Factor	1.45	1.65	1.87	2.64	2.57	1.80	1.44	1.64	2.58	3.68	6.43
Debt to Total Capital	9.39%	16.43%	14.87%	34.29%	24.55%	0.08%	0.05%	23.16%	30.74%	46.49%	26.42%
Short-Term Debt to Total Capital	1.47%	0.36%	0.29%	0.35%	0.09%	0.02%	0.02%	0.04%	0.01%	1.59%	1.56%
Long-Term Debt to Total Capital	7.92%	16.07%	14.58%	33.94%	24.46%	0.06%	0.03%	23.12%	30.73%	44.90%	24.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	90.61%	83.57%	85.13%	65.71%	75.45%	99.92%	99.95%	76.84%	69.26%	53.51%	73.58%
Debt to EBITDA	-0.30	-0.70	-0.38	-2.18	0.69	0.01	0.00	-0.72	-1.21	-1.27	259.65
Net Debt to EBITDA	0.69	1.04	0.50	-0.15	-1.27	-2.31	-1.45	0.43	-0.58	-0.54	117.70
Long-Term Debt to EBITDA	-0.26	-0.68	-0.37	-2.16	0.68	0.00	0.00	-0.72	-1.21	-1.23	244.30
Debt to NOPAT	-0.34	-0.80	-0.45	-2.18	0.78	0.00	0.01	-0.90	-1.32	-1.39	-5.20
Net Debt to NOPAT	0.77	1.18	0.59	-0.15	-1.44	-0.71	-2.33	0.53	-0.64	-0.59	-2.36
Long-Term Debt to NOPAT	-0.29	-0.78	-0.44	-2.15	0.78	0.00	0.00	-0.89	-1.32	-1.34	-4.89
Altman Z-Score	0.07	0.37	-1.53	-1.02	3.02	4.58	3.69	0.01	-0.68	-1.67	-0.86
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.52	2.39	1.79	1.51	2.02	1.86	2.79	2.06	1.60	1.32	1.41
Quick Ratio	1.37	1.44	1.11	1.00	1.46	1.18	1.57	1.27	0.85	0.83	0.97
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.41	1.36	-2.10	-4.84	19	1.06	-5.74	12	-7.69	3.74	-4.25
Operating Cash Flow to CapEx	-948.91%	0.00%	-862.30%	-1,327.56%	2,527.08%	193.18%	-28.54%	-390.96%	-1,380.57%	0.00%	-1,300.00%
Free Cash Flow to Firm to Interest Expense	1.38	8.34	-6.31	-9.81	68.76	4.89	-71.80	36.00	-10.23	3.64	-3.16
Operating Cash Flow to Interest Expense	-11.69	-11.67	-13.26	-10.26	72.91	7.97	-1.41	-6.76	-13.42	0.58	-0.80
Operating Cash Flow Less CapEx to Interest Expense	-12.93	0.23	-14.80	-11.03	70.03	3.84	-6.36	-8.49	-14.39	0.71	-0.86
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.85	1.06	1.12	1.30	2.35	1.41	1.38	0.98	1.34	1.38	1.66
Accounts Receivable Turnover	4.64	7.00	6.73	4.82	10.21	8.50	8.07	5.27	5.39	4.59	4.43
Inventory Turnover	3.30	3.45	4.26	4.82	8.15	5.09	4.59	3.15	3.82	4.01	5.37
Fixed Asset Turnover	3.54	4.56	4.52	5.28	12.66	10.08	10.89	7.06	9.03	9.05	12.21
Accounts Payable Turnover	4.55	4.53	3.91	3.26	5.75	4.70	6.73	5.15	4.39	3.76	4.05
Days Sales Outstanding (DSO)	78.65	52.14	54.20	75.73	35.74	42.94	45.22	69.26	67.71	79.57	82.35
Days Inventory Outstanding (DIO)	110.63	105.68	85.67	75.67	44.79	71.68	79.45	115.94	95.48	90.93	68.02
Days Payable Outstanding (DPO)	80.28	80.60	93.23	111.85	63.46	77.61	54.26	70.90	83.18	97.02	90.05
Cash Conversion Cycle (CCC)	109.00	77.22	46.63	39.55	17.07	37.01	70.41	114.30	80.02	73.48	60.32
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	35	25	18	19	12	39	51	27	27	16	19
Invested Capital Turnover	1.60	2.33	2.79	3.58	9.73	4.57	2.78	1.99	3.31	3.65	4.85
Increase / (Decrease) in Invested Capital	-14	-10	-6.99	0.53	-6.24	26	12	-23	0.11	-11	3.10
Enterprise Value (EV)	28	46	19	27	93	195	73	60	33	28	34
Market Capitalization	39	56	25	26	112	214	87	66	28	24	31
Book Value per Share	$1.66	$1.25	$0.81	$0.61	$1.03	$1.89	$2.09	$1.03	$0.69	$0.36	$4.67
Tangible Book Value per Share	$1.47	$1.10	$0.71	$0.52	$0.95	$1.82	$2.01	$0.80	$0.51	$0.21	$3.51
Total Capital	51	42	28	27	41	58	65	43	33	22	23
Total Debt	4.77	6.97	4.09	9.38	10	0.05	0.04	10	10	10	5.97
Total Long-Term Debt	4.02	6.82	4.01	9.28	10	0.04	0.02	10	10	9.97	5.62
Net Debt	-11	-10	-5.33	0.65	-19	-19	-14	-5.97	4.85	4.35	2.71
Capital Expenditures (CapEx)	0.37	-1.94	0.51	0.38	0.81	0.90	0.40	0.59	0.73	-0.13	0.08
Debt-free, Cash-free Net Working Capital (DFCFNWC)	14	8.33	3.68	5.41	-0.95	6.78	18	9.93	12	3.04	8.08
Debt-free Net Working Capital (DFNWC)	30	26	13	14	28	26	33	26	17	9.01	11
Net Working Capital (NWC)	29	25	13	14	28	26	33	26	17	8.65	11
Net Nonoperating Expense (NNE)	6.18	3.52	4.04	2.36	0.48	1.28	0.10	23	4.09	4.38	2.01
Net Nonoperating Obligations (NNO)	-11	-10	-5.33	0.65	-19	-19	-14	-5.97	4.85	4.35	2.71
Total Depreciation and Amortization (D&A)	4.22	2.44	2.10	1.88	1.81	1.64	1.62	2.10	2.59	2.62	1.78
Debt-free, Cash-free Net Working Capital to Revenue	21.35%	11.87%	6.11%	8.23%	-0.63%	5.80%	14.81%	12.83%	12.83%	3.81%	9.37%
Debt-free Net Working Capital to Revenue	44.33%	36.52%	21.74%	21.50%	18.43%	22.40%	26.44%	33.50%	18.52%	11.30%	13.15%
Net Working Capital to Revenue	43.23%	36.30%	21.61%	21.36%	18.41%	22.39%	26.43%	33.48%	18.51%	10.86%	12.74%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.73)	($0.44)	($0.46)	($0.23)	$0.41	$0.85	$0.20	($1.08)	($3.60)	($3.60)	($0.89)
Adjusted Weighted Average Basic Shares Outstanding	27.63M	28.16M	28.78M	29.43M	30.10M	30.63M	31.02M	31.70M	3.25M	3.28M	3.56M
Adjusted Diluted Earnings per Share	($0.73)	($0.44)	($0.46)	($0.23)	$0.40	$0.83	$0.19	($1.08)	($3.60)	($3.60)	($0.89)
Adjusted Weighted Average Diluted Shares Outstanding	27.63M	28.16M	28.78M	29.43M	30.96M	31.30M	31.29M	31.70M	3.25M	3.28M	3.56M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	($0.23)	$0.41	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	28.06M	28.50M	29.04M	29.60M	30.27M	30.81M	31.10M	32.30M	3.26M	3.33M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-9.73	-8.59	-8.59	-4.31	13	4.79	6.57	-11	-7.22	-7.42	-1.15
Normalized NOPAT Margin	-14.38%	-12.24%	-14.24%	-6.55%	8.58%	4.10%	5.28%	-13.77%	-7.97%	-9.30%	-1.33%
Pre Tax Income Margin	-29.70%	-17.87%	-21.80%	-10.13%	8.37%	5.58%	6.63%	-21.15%	-12.84%	-14.75%	-3.60%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-67.07	-76.21	-38.51	-12.53	46.22	31.04	104.13	-47.37	-14.47	-10.47	-1.31
NOPAT to Interest Expense	-46.95	-53.80	-27.29	-8.74	46.40	126.31	77.44	-33.01	-10.08	-7.23	-0.85
EBIT Less CapEx to Interest Expense	-68.31	-64.31	-40.05	-13.30	43.33	26.91	99.18	-49.10	-15.44	-10.34	-1.37
NOPAT Less CapEx to Interest Expense	-48.18	-41.90	-28.82	-9.52	43.51	122.18	72.49	-34.74	-11.05	-7.10	-0.92
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.48%

This table displays calculated financial ratios and metrics derived from Orion Energy Systems' official financial filings.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	9/30/2023	12/31/2023	6/30/2024	9/30/2024	12/31/2024	3/31/2024	6/30/2025	9/30/2025	12/31/2025	3/31/2025
DEI Shares Outstanding	32,502,558.00	32,512,221.00	32,567,746.00	32,743,409.00	32,906,731.00	32,561,601.00	33,305,699.00	35,202,709.00	3,530,870.00	32,952,087.00
DEI Adjusted Shares Outstanding	3,250,256.00	3,251,222.00	3,256,775.00	3,274,341.00	3,290,673.00	3,256,160.00	3,330,570.00	3,520,271.00	3,530,870.00	3,295,209.00
DEI Earnings Per Adjusted Shares Outstanding	-1.35	-0.69	-1.15	-1.11	-0.46	-0.85	-0.37	-0.17	0.05	-3.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.23%	28.01%	13.02%	-5.95%	-24.59%	140.14%	-1.66%	2.88%	7.68%	-39.69%
EBITDA Growth	-36.42%	64.97%	51.24%	23.57%	52.49%	63.05%	81.32%	110.00%	214.54%	-554.16%
EBIT Growth	-41.35%	55.21%	45.88%	20.62%	39.23%	16.53%	69.44%	91.23%	130.41%	-244.79%
NOPAT Growth	-41.62%	55.06%	46.35%	21.50%	39.43%	14.50%	70.48%	92.60%	139.69%	-238.80%
Net Income Growth	-88.25%	90.62%	43.38%	17.39%	33.16%	86.80%	66.90%	83.97%	110.61%	-264.60%
EPS Growth	-100.00%	90.67%	42.86%	17.39%	33.16%	86.80%	66.67%	84.55%	108.70%	-264.60%
Operating Cash Flow Growth	-150.82%	-22.20%	59.57%	112.49%	258.97%	-242.80%	82.61%	265.26%	-123.84%	101.69%
Free Cash Flow Firm Growth	177.13%	153.74%	-103.71%	-84.60%	-12.15%	-110.09%	1,503.39%	97.17%	-81.61%	304.70%
Invested Capital Growth	-46.47%	-26.65%	-5.80%	-19.80%	-30.38%	0.41%	-41.56%	-29.74%	-5.19%	-40.72%
Revenue Q/Q Growth	16.88%	26.16%	50.65%	-2.74%	1.15%	62.02%	-38.31%	1.76%	5.87%	-9.26%
EBITDA Q/Q Growth	39.14%	60.13%	13.28%	4.61%	75.21%	-80.21%	75.04%	151.04%	184.01%	-1,129.19%
EBIT Q/Q Growth	34.89%	50.68%	-2.39%	4.49%	62.25%	-126.10%	62.51%	72.60%	230.93%	-2,663.78%
NOPAT Q/Q Growth	34.84%	50.53%	-2.20%	4.66%	61.83%	-129.86%	64.72%	76.11%	304.82%	-2,062.41%
Net Income Q/Q Growth	33.89%	48.59%	82.16%	3.54%	58.40%	-84.35%	55.25%	53.30%	127.54%	-6,435.00%
EPS Q/Q Growth	33.33%	50.00%	81.82%	3.54%	58.40%	-84.35%	50.00%	-325.00%	123.53%	-6,435.00%
Operating Cash Flow Q/Q Growth	45.57%	126.28%	-137.14%	116.81%	655.42%	-402.76%	95.48%	453.20%	-149.31%	121.40%
Free Cash Flow Firm Q/Q Growth	8.96%	-64.02%	-103.55%	552.52%	105.28%	-130.61%	593.47%	-36.42%	-80.86%	240.80%
Invested Capital Q/Q Growth	0.21%	-10.23%	-1.34%	-14.69%	-22.08%	53.10%	-42.58%	2.56%	5.16%	-4.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.19%	24.52%	21.60%	23.10%	29.38%	20.13%	30.15%	31.01%	30.85%	8.63%
EBITDA Margin	-17.10%	-5.41%	-14.17%	-13.90%	-3.41%	-3.79%	-2.69%	1.35%	3.62%	-41.09%
Operating Margin	-20.25%	-7.94%	-17.24%	-16.90%	-6.38%	-9.05%	-5.18%	-1.21%	1.83%	-50.83%
EBIT Margin	-20.31%	-7.94%	-17.46%	-17.14%	-6.40%	-8.93%	-5.43%	-1.46%	1.81%	-51.04%
Profit (Net Income) Margin	-21.32%	-8.69%	-18.88%	-18.72%	-7.70%	-8.76%	-6.36%	-2.92%	0.76%	-52.97%
Tax Burden Percent	100.34%	100.04%	100.56%	100.64%	100.07%	99.86%	101.06%	101.75%	89.89%	100.01%
Interest Burden Percent	104.59%	109.36%	107.54%	108.53%	120.27%	98.27%	115.91%	196.22%	46.72%	103.76%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.11%	0.00%
Return on Invested Capital (ROIC)	-43.88%	-24.31%	-34.66%	-35.98%	-14.76%	-20.99%	-15.33%	-3.95%	8.72%	-130.03%
ROIC Less NNEP Spread (ROIC-NNEP)	151.39%	-108.91%	-62.91%	-56.29%	-29.75%	116.07%	-23.72%	-10.87%	4.34%	-202.36%
Return on Net Nonoperating Assets (RNNOA)	-2.73%	-3.56%	-13.16%	-19.24%	-7.16%	-2.34%	-10.12%	-4.76%	1.41%	-54.08%
Return on Equity (ROE)	-46.61%	-27.86%	-47.83%	-55.23%	-21.92%	-23.33%	-25.46%	-8.71%	10.12%	-184.11%
Cash Return on Invested Capital (CROIC)	61.18%	110.12%	-26.89%	-10.93%	-0.50%	-28.13%	24.86%	15.69%	-9.70%	17.13%
Operating Return on Assets (OROA)	-35.12%	-15.77%	-22.45%	-22.03%	-7.81%	-12.00%	-9.00%	-2.55%	3.30%	-70.38%
Return on Assets (ROA)	-36.86%	-17.25%	-24.28%	-24.06%	-9.40%	-11.78%	-10.55%	-5.09%	1.39%	-73.03%
Return on Common Equity (ROCE)	-46.61%	-27.86%	-47.83%	-55.23%	-21.92%	-23.33%	-25.46%	-8.71%	10.12%	-184.11%
Return on Equity Simple (ROE_SIMPLE)	1.02%	106.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-2.92	-1.44	-2.40	-2.29	-0.87	-2.01	-0.71	-0.17	0.35	-6.81
NOPAT Margin	-14.17%	-5.56%	-12.07%	-11.83%	-4.46%	-6.33%	-3.62%	-0.85%	1.65%	-35.58%
Net Nonoperating Expense Percent (NNEP)	-195.27%	84.60%	28.24%	20.31%	14.99%	-137.06%	8.39%	6.92%	4.38%	72.33%
Return On Investment Capital (ROIC_SIMPLE)	-	-4.71%	-7.37%	-8.09%	-3.44%	-6.18%	-3.68%	-0.80%	1.60%	-30.66%
Cost of Revenue to Revenue	77.81%	75.48%	78.40%	76.90%	70.62%	79.87%	69.85%	68.99%	69.15%	91.37%
SG&A Expenses to Revenue	24.48%	18.91%	22.76%	23.59%	19.69%	11.93%	21.92%	19.14%	16.05%	34.08%
R&D to Revenue	1.86%	1.34%	1.33%	1.69%	1.47%	1.94%	1.06%	1.16%	1.12%	2.89%
Operating Expenses to Revenue	42.44%	32.46%	38.84%	40.00%	35.76%	29.17%	35.32%	32.23%	29.02%	59.46%
Earnings before Interest and Taxes (EBIT)	-4.18	-2.06	-3.48	-3.32	-1.25	-2.83	-1.06	-0.29	0.38	-9.77
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-3.52	-1.40	-2.82	-2.69	-0.67	-1.20	-0.53	0.27	0.76	-7.86
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.81	1.36	1.89	1.78	1.82	1.26	1.85	2.71	4.59	2.00
Price to Tangible Book Value (P/TBV)	2.61	2.02	2.70	2.71	2.84	1.71	3.23	4.40	7.16	3.38
Price to Revenue (P/Rev)	0.32	0.21	0.45	0.36	0.37	0.31	0.22	0.34	0.59	0.30
Price to Earnings (P/E)	176.52	1.28	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.57%	78.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.64	1.29	1.63	1.53	1.66	1.21	1.58	2.21	3.50	1.73
Enterprise Value to Revenue (EV/Rev)	0.37	0.25	0.55	0.45	0.41	0.37	0.28	0.39	0.64	0.35
Enterprise Value to EBITDA (EV/EBITDA)	7.30	3.68	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	10.87	4.84	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	180.19	1.38	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	21.21	5.37	3.21	0.00	0.00	0.00	0.00	46.93
Enterprise Value to Free Cash Flow (EV/FCFF)	1.87	0.99	0.00	0.00	0.00	0.00	4.70	11.60	0.00	7.52
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.44	0.48	0.71	0.79	0.75	0.44	0.79	0.87	0.83	0.87
Long-Term Debt to Equity	0.44	0.48	0.70	0.77	0.73	0.44	0.75	0.81	0.76	0.84
Financial Leverage	-0.02	0.03	0.21	0.34	0.24	-0.02	0.43	0.44	0.32	0.27
Leverage Ratio	1.76	2.27	2.70	3.18	3.36	2.42	3.64	3.83	3.84	3.36
Compound Leverage Factor	1.84	2.49	2.90	3.45	4.04	2.37	4.22	7.52	1.79	3.49
Debt to Total Capital	30.66%	32.63%	41.48%	44.21%	42.98%	30.74%	43.99%	46.53%	45.40%	46.49%
Short-Term Debt to Total Capital	0.04%	0.02%	0.81%	1.24%	1.39%	0.01%	1.83%	3.07%	3.70%	1.59%
Long-Term Debt to Total Capital	30.63%	32.61%	40.67%	42.97%	41.59%	30.73%	42.16%	43.46%	41.70%	44.90%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	69.34%	67.37%	58.52%	55.79%	57.02%	69.26%	56.01%	53.47%	54.60%	53.51%
Debt to EBITDA	1.56	1.11	-1.23	-1.23	-1.16	-1.21	-1.42	-3.26	-6.13	-1.27
Net Debt to EBITDA	0.93	0.56	-0.71	-0.70	-0.36	-0.58	-0.82	-1.56	-3.19	-0.54
Long-Term Debt to EBITDA	1.55	1.11	-1.21	-1.20	-1.12	-1.21	-1.36	-3.05	-5.63	-1.23
Debt to NOPAT	38.43	0.42	-1.48	-1.48	-1.38	-1.32	-1.44	-2.63	-3.76	-1.39
Net Debt to NOPAT	22.98	0.21	-0.86	-0.84	-0.43	-0.64	-0.84	-1.26	-1.96	-0.59
Long-Term Debt to NOPAT	38.39	0.41	-1.46	-1.43	-1.33	-1.32	-1.38	-2.46	-3.45	-1.34
Altman Z-Score	0.41	0.34	-0.48	-0.85	-1.03	-0.26	-1.08	-0.83	-0.33	-1.61
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.56	1.49	1.70	1.49	1.40	1.60	1.23	1.34	1.35	1.32
Quick Ratio	0.76	0.73	0.93	0.86	0.82	0.85	0.77	0.85	0.89	0.83
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	22	7.89	-0.75	3.38	6.93	-2.12	10	6.66	1.27	4.35
Operating Cash Flow to CapEx	-1,704.27%	1,017.48%	-12,341.67%	0.00%	19,800.00%	-1,306.19%	-936.36%	713.33%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	114.26	40.89	-2.85	11.94	27.19	0.00	61.98	23.78	6.28	11.62
Operating Cash Flow to Interest Expense	-20.77	5.43	-11.31	1.76	14.75	0.00	-3.05	6.50	-4.42	0.51
Operating Cash Flow Less CapEx to Interest Expense	-21.99	4.90	-11.40	2.41	14.68	0.00	-3.37	5.59	-3.18	1.03
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.73	1.99	1.29	1.29	1.22	1.34	1.66	1.74	1.83	1.38
Accounts Receivable Turnover	8.23	7.77	4.81	4.41	4.53	5.39	5.26	5.52	5.90	4.59
Inventory Turnover	5.05	4.86	3.64	3.41	3.16	3.82	5.18	5.23	5.77	4.01
Fixed Asset Turnover	11.95	12.83	8.04	8.25	7.82	9.03	10.55	11.02	11.71	9.05
Accounts Payable Turnover	8.69	6.04	4.71	3.99	3.35	4.39	5.02	4.76	4.82	3.76
Days Sales Outstanding (DSO)	44.34	47.00	75.95	82.75	80.60	67.71	69.40	66.14	61.84	79.57
Days Inventory Outstanding (DIO)	72.27	75.11	100.31	107.19	115.69	95.48	70.48	69.75	63.25	90.93
Days Payable Outstanding (DPO)	41.98	60.47	77.58	91.42	108.82	83.18	72.77	76.72	75.70	97.02
Cash Conversion Cycle (CCC)	74.62	61.64	98.69	98.51	87.47	80.02	67.12	59.17	49.39	73.48
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	29	26	27	23	18	27	16	16	17	16
Invested Capital Turnover	3.10	4.37	2.87	3.04	3.31	3.31	4.23	4.65	5.30	3.65
Increase / (Decrease) in Invested Capital	-25	-9.34	-1.66	-5.67	-7.81	0.11	-11	-6.83	-0.93	-11
Enterprise Value (EV)	47	33	44	35	30	33	25	36	59	28
Market Capitalization	41	28	36	28	26	28	20	31	54	24
Book Value per Share	$0.70	$0.64	$0.59	$0.48	$0.44	$0.69	$0.32	$0.32	$3.35	$0.36
Tangible Book Value per Share	$0.48	$0.43	$0.41	$0.32	$0.28	$0.51	$0.19	$0.20	$2.15	$0.21
Total Capital	33	31	33	28	25	33	19	21	22	22
Total Debt	10	10	14	13	11	10	8.49	9.90	9.84	10
Total Long-Term Debt	10	10	13	12	11	10	8.13	9.25	9.04	9.97
Net Debt	5.99	5.04	7.83	7.16	3.42	4.85	4.92	4.75	5.12	4.35
Capital Expenditures (CapEx)	0.23	0.10	0.02	-0.18	0.02	0.87	0.06	0.26	-0.25	-0.19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	12	10	12	8.08	3.39	12	2.90	3.55	4.65	3.04
Debt-free Net Working Capital (DFNWC)	16	15	18	13	11	17	6.47	8.71	9.37	9.01
Net Working Capital (NWC)	16	15	17	13	11	17	6.11	8.06	8.57	8.65
Net Nonoperating Expense (NNE)	1.47	0.81	1.36	1.33	0.63	0.77	0.53	0.41	0.19	3.33
Net Nonoperating Obligations (NNO)	5.99	5.04	7.83	7.16	3.42	4.85	4.92	4.75	5.12	4.35
Total Depreciation and Amortization (D&A)	0.66	0.66	0.65	0.63	0.59	1.63	0.54	0.56	0.38	1.91
Debt-free, Cash-free Net Working Capital to Revenue	9.61%	7.55%	14.99%	10.30%	4.71%	12.83%	3.22%	3.91%	5.04%	3.81%
Debt-free Net Working Capital to Revenue	12.78%	11.29%	22.14%	17.15%	15.11%	18.52%	7.17%	9.59%	10.15%	11.30%
Net Working Capital to Revenue	12.77%	11.28%	21.81%	16.70%	14.62%	18.51%	6.77%	8.87%	9.28%	10.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.14)	($0.07)	($0.12)	($1.10)	($0.50)	($8.60)	($0.04)	($0.17)	$0.05	($30.90)
Adjusted Weighted Average Basic Shares Outstanding	32.50M	32.53M	32.61M	3.28M	3.29M	324.86K	33.32M	3.50M	3.54M	328.30K
Adjusted Diluted Earnings per Share	($0.14)	($0.07)	($0.12)	($1.10)	($0.50)	($8.60)	($0.04)	($0.17)	$0.04	($30.90)
Adjusted Weighted Average Diluted Shares Outstanding	32.50M	32.53M	32.61M	3.28M	3.29M	324.86K	33.32M	3.50M	3.64M	328.30K
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($8.60)	$0.00	$0.00	$0.00	($30.90)
Adjusted Weighted Average Basic & Diluted Shares Outstanding	32.51M	32.56M	32.74M	3.29M	3.30M	3.26M	35.20M	3.53M	0.00	3.33M
Normalized Net Operating Profit after Tax (NOPAT)	-2.92	-1.44	-2.40	-2.29	-0.87	-1.97	-0.71	-0.17	0.35	-6.81
Normalized NOPAT Margin	-14.16%	-5.56%	-12.07%	-11.83%	-4.46%	-6.21%	-3.62%	-0.85%	1.65%	-35.58%
Pre Tax Income Margin	-21.24%	-8.68%	-18.77%	-18.60%	-7.70%	-8.77%	-6.29%	-2.87%	0.84%	-52.96%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-21.78	-10.68	-13.26	-11.73	-4.91	0.00	-6.28	-1.04	1.88	-26.12
NOPAT to Interest Expense	-15.20	-7.48	-9.17	-8.09	-3.43	0.00	-4.20	-0.61	1.71	-18.21
EBIT Less CapEx to Interest Expense	-22.99	-11.22	-13.36	-11.08	-4.99	0.00	-6.61	-1.95	3.12	-25.60
NOPAT Less CapEx to Interest Expense	-16.41	-8.01	-9.26	-7.44	-3.50	0.00	-4.52	-1.52	2.95	-17.69
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Orion Energy Systems Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Orion Energy Systems' fiscal year ends in March. Their fiscal year 2026 ended on March 31, 2026.

Orion Energy Systems' net income appears to be on a downward trend, with a most recent value of -$3.16 million in 2026, falling from -$20.13 million in 2016. The previous period was -$11.80 million in 2025. See where experts think Orion Energy Systems is headed by visiting Orion Energy Systems' forecast page.

Orion Energy Systems' total operating income in 2026 was -$1.64 million, based on the following breakdown:

Total Gross Profit: $28.09 million
Total Operating Expenses: $29.74 million

Over the last 10 years, Orion Energy Systems' total revenue changed from $67.64 million in 2016 to $86.31 million in 2026, a change of 27.6%.

Orion Energy Systems' total liabilities were at $34.98 million at the end of 2026, a 13.8% decrease from 2025, and a 40.5% increase since 2016.

In the past 10 years, Orion Energy Systems' cash and equivalents has ranged from $3.27 million in 2026 to $28.75 million in 2020, and is currently $3.27 million as of their latest financial filing in 2026.

Over the last 10 years, Orion Energy Systems' book value per share changed from 1.66 in 2016 to 4.67 in 2026, a change of 181.9%.

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Financial statements for NASDAQ:OESX last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Orion Energy Systems (OESX) Financials

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Orion Energy Systems (OESX) Financials

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