Solaris Energy Infrastructure (SEI) Financials

$31.66 +2.03 (+6.85%)

As of 08/28/2025 03:58 PM Eastern

Annual Income Statements for Solaris Energy Infrastructure

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	0.00	0.00	-4.17	42	52	-29	-0.87	21	23	15
Consolidated Net Income / (Loss)	0.00	2.80	15	86	90	-51	-1.26	34	39	29
Net Income / (Loss) Continuing Operations	-1.37	2.80	76	86	90	-51	-1.26	34	39	29
Total Pre-Tax Income	-1.31	2.85	48	99	107	-60	-0.63	41	47	37
Total Operating Income	-1.21	2.86	25	99	108	-60	-0.39	42	50	53
Total Gross Profit	3.85	8.75	118	136	154	37	44	100	115	136
Total Revenue	14	18	135	197	242	103	159	320	293	313
Operating Revenue	14	18	135	197	242	103	159	320	293	313
Total Cost of Revenue	10	9.41	17	61	88	66	115	220	178	177
Operating Cost of Revenue	10	9.41	17	61	88	66	115	220	178	177
Total Operating Expenses	5.06	5.89	31	37	46	97	44	58	65	83
Selling, General & Admin Expense	2.66	2.10	14	17	19	16	19	23	27	36
Depreciation Expense	2.40	3.79	13	18	27	27	27	30	36	47
Other Operating Expenses / (Income)	-	-	4.13	1.83	0.59	5.78	-2.36	4.92	0.64	2.95
Impairment Charge	-	-	-	0.00	0.00	48	0.00	0.00	1.42	0.00
Other Special Charges / (Income)	-	-	-	-	-	-	-	-	0.00	-2.48
Total Other Income / (Expense), net	-0.09	-0.02	23	-0.75	-0.63	-0.16	-0.25	-0.49	-3.31	-16
Interest Expense	0.02	0.02	0.10	0.37	0.63	0.16	0.25	0.49	0.00	4.09
Interest & Investment Income	-	-	-	-	-	-	-	-	-3.31	-12
Income Tax Expense	0.07	0.04	34	13	17	-8.97	0.63	7.80	7.82	8.01
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	15	44	38	-22	-0.39	12	16	14
Basic Earnings per Share	-	$0.00	($0.34)	$1.60	$0.00	($1.03)	($0.04)	$0.64	$0.78	$0.51
Weighted Average Basic Shares Outstanding	-	0.00	12.12M	25.68M	0.00	28.92M	30.79M	31.48M	29.69M	28.76M
Diluted Earnings per Share	-	$0.00	($0.34)	$1.59	$0.00	($1.03)	($0.04)	$0.64	$0.78	$0.50
Weighted Average Diluted Shares Outstanding	-	0.00	12.12M	25.83M	0.00	28.92M	30.79M	31.48M	29.69M	29.24M
Weighted Average Basic & Diluted Shares Outstanding	-	-	13M	47.13M	46.16M	45.33M	45.76M	47.22M	43.01M	67.12M
Cash Dividends to Common per Share	-	-	-	$0.10	$0.41	$0.42	$0.42	$0.42	$0.45	$0.48

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	4.80	7.22	7.15	4.69	4.14	4.00	5.80	-1.20	6.16	5.00	11
Consolidated Net Income / (Loss)	7.99	12	12	7.64	6.96	7.30	9.82	-2.21	14	13	24
Net Income / (Loss) Continuing Operations	7.99	12	12	7.64	6.96	7.30	9.82	-2.21	14	13	24
Total Pre-Tax Income	9.90	14	15	8.94	8.33	9.16	11	-1.75	18	17	30
Total Operating Income	10	15	16	10	9.24	9.96	12	5.27	26	22	36
Total Gross Profit	27	29	32	28	26	28	28	28	52	59	95
Total Revenue	84	83	77	70	63	68	74	75	96	126	149
Operating Revenue	-	83	77	70	63	68	74	75	96	126	149
Total Cost of Revenue	57	53	46	42	37	40	46	47	44	68	54
Operating Cost of Revenue	57	53	46	42	37	40	46	47	44	68	54
Total Operating Expenses	17	15	16	18	17	18	16	23	27	37	60
Selling, General & Admin Expense	5.87	6.54	6.83	6.36	7.23	7.99	8.26	8.80	11	15	15
Depreciation Expense	8.66	8.42	9.07	9.18	9.52	9.93	9.57	11	17	20	18
Other Operating Expenses / (Income)	2.75	-0.34	-0.13	0.61	0.49	0.12	0.56	3.04	-0.77	1.23	26
Other Special Charges / (Income)	-	-	0.00	0.00	-	-	-2.48	0.00	-	-	0.00
Total Other Income / (Expense), net	-0.09	-0.46	-0.88	-1.06	-0.91	-0.80	-0.69	-7.02	-7.39	-5.17	-5.48
Interest & Investment Income	-	-	-0.88	-1.06	-	-0.80	-0.69	-2.93	-	-5.17	-5.48
Income Tax Expense	1.91	2.49	2.66	1.31	1.37	1.86	1.35	0.46	4.34	3.92	5.96
Net Income / (Loss) Attributable to Noncontrolling Interest	3.19	4.72	5.09	2.95	2.85	3.26	4.03	-1.01	7.88	7.91	13
Basic Earnings per Share	$0.37	$0.23	$0.24	$0.16	$0.15	$0.14	$0.20	($0.04)	$0.21	$0.14	$0.30
Weighted Average Basic Shares Outstanding	31.48M	31.21M	29.54M	29.03M	29.69M	28.59M	28.34M	28.38M	28.76M	36.18M	37.82M
Diluted Earnings per Share	$0.37	$0.23	$0.24	$0.16	$0.15	$0.14	$0.20	($0.04)	$0.20	$0.14	$0.30
Weighted Average Diluted Shares Outstanding	31.48M	31.21M	29.54M	29.03M	29.69M	28.59M	28.34M	28.38M	29.24M	36.18M	37.82M
Weighted Average Basic & Diluted Shares Outstanding	47.22M	45.80M	44.15M	44.25M	43.01M	44.02M	44.00M	60.59M	67.12M	67.54M	67.58M

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-18	-3.36	60	-38	42	-6.52	-24	-28	-3.00	154
Net Cash From Operating Activities	2.16	4.52	27	116	115	44	16	68	88	59
Net Cash From Continuing Operating Activities	2.16	4.52	27	116	115	44	16	68	88	59
Net Income / (Loss) Continuing Operations	-1.37	2.80	15	86	90	-51	-1.26	34	39	29
Consolidated Net Income / (Loss)	-1.37	2.80	15	86	90	-51	-1.26	34	39	29
Depreciation Expense	2.40	3.79	6.64	18	27	27	27	30	36	47
Non-Cash Adjustments To Reconcile Net Income	0.09	0.26	4.17	4.80	4.93	57	5.55	8.55	9.82	5.45
Changes in Operating Assets and Liabilities, net	1.05	-2.34	1.20	6.90	-8.29	11	-15	-4.66	3.48	-22
Net Cash From Investing Activities	-28	-11	-99	-161	-34	-3.78	-20	-80	-62	-305
Net Cash From Continuing Investing Activities	-28	-11	-99	-161	-34	-3.78	-20	-80	-62	-305
Purchase of Property, Plant & Equipment	-28	-11	-94	-161	-35	-4.66	-20	-81	-64	-188
Acquisitions	-0.07	-0.04	-5.07	-0.01	-	-	-	-	0.00	-122
Sale of Property, Plant & Equipment	0.00	-	-	0.00	0.23	0.79	0.08	0.41	2.26	0.13
Other Investing Activities, net	-	0.00	-	0.54	0.62	0.10	0.03	1.46	0.12	5.33
Net Cash From Financing Activities	7.88	3.06	132	5.82	-39	-47	-21	-16	-29	400
Net Cash From Continuing Financing Activities	7.88	3.06	132	5.82	-39	-47	-21	-16	-29	400
Repayment of Debt	-0.28	-0.39	-6.06	-2.29	-16	0.00	-0.66	-4.84	-15	-86
Repurchase of Common Equity	-0.01	0.00	-	-1.15	-4.36	-27	0.00	0.00	-26	-13
Payment of Dividends	-	0.00	-26	-4.71	-19	-19	-19	-20	-21	-23
Issuance of Debt	-	2.50	3.00	13	-	0.00	0.00	11	37	366
Issuance of Common Equity	-	0.00	156	-	-	-	-	-	0.00	161
Other Financing Activities, net	8.16	0.95	5.23	0.90	0.26	-0.40	-0.80	-2.71	-3.87	-4.69
Cash Interest Paid	0.02	0.02	0.10	0.28	0.28	0.28	0.13	0.25	2.96	11
Cash Interest Received	-	-	-	-	-	-	-	-	0.14	1.46
Cash Income Taxes Paid	0.06	0.04	0.05	0.31	0.66	0.80	0.33	0.37	0.48	0.50

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-1.60	-6.66	7.20	-5.92	2.38	-2.41	1.64	111	43	-143	122
Net Cash From Operating Activities	24	17	27	21	24	17	19	11	13	26	24
Net Cash From Continuing Operating Activities	24	17	27	21	24	17	19	11	13	26	24
Net Income / (Loss) Continuing Operations	7.99	12	12	7.64	6.96	7.30	9.82	-2.21	14	13	24
Consolidated Net Income / (Loss)	7.99	12	12	7.64	6.96	7.30	9.82	-2.21	14	13	24
Depreciation Expense	8.66	8.42	9.07	9.18	9.52	9.93	9.57	11	17	20	18
Non-Cash Adjustments To Reconcile Net Income	3.17	1.97	1.75	4.12	1.98	2.83	0.01	7.02	-4.36	4.41	5.58
Changes in Operating Assets and Liabilities, net	4.23	-5.50	3.84	-0.10	5.24	-3.19	-0.56	-6.25	-12	-12	-24
Net Cash From Investing Activities	-22	-19	-21	-15	-7.17	-3.35	-0.29	-186	-115	-144	-193
Net Cash From Continuing Investing Activities	-22	-19	-21	-15	-7.17	-3.35	-0.29	-186	-115	-144	-193
Purchase of Property, Plant & Equipment	-22	-19	-21	-17	-7.27	-3.36	-0.66	-58	-127	-144	-185
Net Cash From Financing Activities	-3.94	-4.68	1.32	-12	-14	-16	-17	287	145	-25	291
Net Cash From Continuing Financing Activities	-3.94	-4.68	1.32	-12	-14	-16	-17	287	145	-25	291
Repayment of Debt	-0.54	-0.54	-0.37	-6.41	-7.44	-4.41	-15	-64	-2.10	-0.67	-13
Payment of Dividends	-4.89	-5.64	-4.89	-4.86	-5.31	-5.29	-5.28	-5.29	-7.27	-9.38	-8.11
Issuance of Debt	2.00	18	19	-	-	4.00	3.55	358	-	0.00	227
Other Financing Activities, net	-0.51	-2.07	-0.61	-0.59	-0.59	-2.14	-0.64	-0.96	-0.95	-14	-0.94
Cash Interest Paid	0.15	0.34	0.69	1.05	0.88	0.76	0.66	0.60	9.45	5.71	6.27
Cash Interest Received	-	-	-	-	0.05	0.03	-	-	0.70	1.03	1.04
Cash Income Taxes Paid	-	0.00	0.20	0.28	-	0.08	0.44	-	-0.02	0.00	0.78

This table presents Solaris Energy Infrastructure's 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
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	77	300	459	505	412	406	463	468	1,123
Total Current Assets	9.85	88	81	118	82	81	89	67	251
Cash & Equivalents	3.57	63	25	67	60	36	8.84	5.83	114
Restricted Cash	-	-	-	-	-	-	-	0.00	46
Accounts Receivable	4.51	13	40	39	18	33	69	47	72
Inventories, net	1.37	7.53	10	7.14	0.95	1.65	5.29	6.67	11
Prepaid Expenses	0.40	3.62	5.49	5.00	2.17	9.80	5.15	4.34	8.39
Plant, Property, & Equipment, net	54	151	297	0.00	0.00	0.00	298	0.00	340
Total Noncurrent Assets	13	61	81	387	330	325	76	401	532
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	1.66	1.07
Goodwill	13	17	17	17	13	13	13	13	104
Intangible Assets	0.04	5.34	4.54	3.76	2.98	2.20	1.43	0.70	72
Noncurrent Deferred & Refundable Income Taxes	-	38	58	51	60	63	55	48	44
Other Noncurrent Operating Assets	-	0.26	1.45	315	254	247	5.87	338	312
Total Liabilities & Shareholders' Equity	77	300	459	505	412	406	463	468	1,123
Total Liabilities	5.89	46	118	95	96	108	145	153	456
Total Current Liabilities	3.08	21	35	20	20	29	56	37	66
Short-Term Debt	0.23	0.03	-	1.42	0.61	1.21	1.09	0.00	8.13
Accounts Payable	0.71	5.00	9.13	3.82	6.86	9.93	26	13	21
Accrued Expenses	2.14	15	13	14	12	17	25	20	23
Current Deferred Revenue	-	0.00	13	-	-	-	-	0.00	4.92
Other Current Liabilities	-	0.00	0.55	0.70	0.75	1.24	3.70	4.26	8.23
Total Noncurrent Liabilities	2.82	25	82	75	76	79	90	116	391
Long-Term Debt	2.60	0.15	13	-	-	0.00	80	30	308
Noncurrent Deferred & Payable Income Tax Liabilities	-	25	56	67	68	72	-	72	74
Other Noncurrent Operating Liabilities	-	-	0.79	8.45	8.11	7.16	10	14	9.28
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	71	254	341	410	315	298	317	316	667
Total Preferred & Common Equity	71	113	198	264	201	203	216	206	356
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	71	113	198	264	201	203	216	206	356
Common Stock	69	118	164	192	180	197	203	189	338
Retained Earnings	2.08	-4.17	36	74	21	5.93	13	17	18
Noncontrolling Interest	-	141	142	146	114	95	101	110	311

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

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	460	473	484	481	457	458	939	1,130	1,473
Total Current Assets	96	86	86	75	63	75	197	126	282
Cash & Equivalents	10	2.18	9.37	3.45	3.42	5.06	19	17	100
Restricted Cash	-	-	-	-	-	-	98	0.00	39
Accounts Receivable	71	72	63	55	49	54	63	90	114
Inventories, net	5.62	7.62	8.52	7.45	6.92	8.86	11	11	12
Prepaid Expenses	8.55	4.25	5.67	5.63	3.41	6.54	6.06	8.49	18
Plant, Property, & Equipment, net	285	313	325	327	321	0.00	213	481	672
Total Noncurrent Assets	80	74	72	78	73	383	530	522	518
Noncurrent Note & Lease Receivables	-	-	-	-	-	1.07	1.07	0.00	0.00
Goodwill	13	13	13	13	13	13	101	104	104
Intangible Assets	1.62	1.25	1.07	0.88	0.52	0.34	74	68	65
Noncurrent Deferred & Refundable Income Taxes	58	54	51	49	46	45	35	44	44
Other Noncurrent Operating Assets	6.76	5.82	7.27	15	14	324	320	306	305
Total Liabilities & Shareholders' Equity	460	473	484	481	457	458	939	1,130	1,473
Total Liabilities	147	163	176	168	147	141	446	462	692
Total Current Liabilities	61	55	51	43	35	60	55	75	91
Short-Term Debt	1.21	0.00	0.00	0.00	2.68	19	4.06	12	17
Accounts Payable	26	30	29	20	12	16	16	28	41
Accrued Expenses	30	22	17	18	16	18	17	26	25
Current Deferred Revenue	-	-	-	-	-	-	7.77	5.23	3.88
Other Current Liabilities	3.41	3.11	4.72	4.85	3.88	6.86	9.82	3.40	3.75
Total Noncurrent Liabilities	87	107	125	125	112	81	392	386	602
Long-Term Debt	6.00	26	115	37	30	0.00	311	304	519
Noncurrent Deferred & Payable Income Tax Liabilities	71	72	-	72	69	69	68	74	74
Other Noncurrent Operating Liabilities	9.11	9.76	10	16	13	12	12	8.62	9.19
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	313	310	308	313	310	317	493	668	780
Total Preferred & Common Equity	214	208	202	205	200	205	222	361	399
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	214	208	202	205	200	205	222	361	399
Common Stock	202	195	187	188	183	185	207	343	374
Retained Earnings	12	13	15	17	17	20	15	18	25
Noncontrolling Interest	99	103	106	108	110	113	272	307	381

This table displays calculated financial ratios and metrics derived from Solaris Energy Infrastructure's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	27.82%	642.36%	46.30%	22.56%	-57.39%	54.59%	101.02%	-8.46%	6.88%
EBITDA Growth	0.00%	499.91%	727.74%	113.22%	15.28%	-124.12%	182.56%	168.14%	18.91%	16.20%
EBIT Growth	0.00%	323.44%	1,589.89%	104.02%	9.12%	-155.50%	99.35%	10,902.07%	19.37%	5.84%
NOPAT Growth	0.00%	431.85%	174.09%	1,017.13%	5.35%	-146.13%	99.35%	12,617.03%	22.47%	-0.39%
Net Income Growth	0.00%	0.00%	423.62%	485.62%	5.13%	-156.54%	97.53%	2,759.68%	15.70%	-25.42%
EPS Growth	0.00%	0.00%	0.00%	567.65%	-100.00%	0.00%	96.12%	1,700.00%	21.88%	-35.90%
Operating Cash Flow Growth	0.00%	109.69%	491.22%	335.35%	-1.28%	-61.82%	-62.44%	312.77%	29.80%	-32.74%
Free Cash Flow Firm Growth	0.00%	0.00%	-65.64%	54.40%	247.03%	-38.37%	-115.34%	-1,193.20%	198.13%	-587.16%
Invested Capital Growth	0.00%	0.00%	169.95%	72.00%	4.67%	-25.70%	2.69%	48.08%	-12.63%	142.12%
Revenue Q/Q Growth	0.00%	0.00%	273.47%	-19.79%	2.34%	-26.74%	14.94%	13.51%	-6.60%	11.76%
EBITDA Q/Q Growth	0.00%	0.00%	141.00%	21.06%	2.28%	-2,800.50%	25.16%	16.17%	-0.15%	29.21%
EBIT Q/Q Growth	0.00%	0.00%	176.05%	20.54%	1.80%	-126.95%	93.01%	24.98%	-1.66%	45.43%
NOPAT Q/Q Growth	0.00%	0.00%	-52.91%	75.73%	0.52%	-126.95%	93.01%	25.89%	-0.97%	40.10%
Net Income Q/Q Growth	0.00%	0.00%	-9.29%	37.03%	0.76%	-122.95%	75.79%	25.86%	-2.59%	32.21%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	52.75%	-33.33%	220.00%	-22.00%	11.11%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	59.56%	63.28%	-22.06%	-31.83%	-6.08%	39.66%	-0.56%	-16.98%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	45.39%	60.74%	-21.72%	-1,693.29%	-282.29%	1,648.25%	-39.56%
Invested Capital Q/Q Growth	0.00%	0.00%	24.75%	10.94%	1.28%	-2.36%	1.61%	25.63%	-1.89%	18.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.07%	48.19%	87.47%	69.12%	63.73%	36.14%	27.47%	31.32%	39.29%	43.48%
EBITDA Margin	7.82%	36.71%	40.93%	59.65%	56.11%	-31.76%	16.96%	22.62%	29.39%	31.95%
Operating Margin	-8.54%	15.76%	18.89%	50.35%	44.66%	-58.17%	-0.24%	13.06%	17.03%	16.87%
EBIT Margin	-9.04%	15.80%	35.97%	50.16%	44.66%	-58.17%	-0.24%	13.06%	17.03%	16.87%
Profit (Net Income) Margin	0.00%	15.44%	10.89%	43.59%	37.39%	-49.62%	-0.79%	10.47%	13.24%	9.24%
Tax Burden Percent	0.00%	98.49%	30.33%	86.90%	84.22%	85.07%	198.74%	81.11%	83.22%	78.32%
Interest Burden Percent	101.71%	99.20%	99.80%	100.00%	99.41%	100.27%	163.82%	98.83%	93.37%	69.91%
Effective Tax Rate	0.00%	1.51%	69.67%	13.10%	15.78%	0.00%	0.00%	18.89%	16.78%	21.68%
Return on Invested Capital (ROIC)	0.00%	7.96%	5.90%	33.18%	27.01%	-13.98%	-0.10%	10.41%	11.40%	7.12%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	13.56%	-15.98%	34.05%	28.39%	0.66%	1.98%	8.23%	5.66%	-6.71%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-0.10%	3.12%	-4.30%	-2.93%	-0.11%	-0.31%	0.49%	0.86%	-1.23%
Return on Equity (ROE)	0.00%	7.86%	9.02%	28.89%	24.08%	-14.09%	-0.41%	10.90%	12.26%	5.89%
Cash Return on Invested Capital (CROIC)	0.00%	-192.04%	-85.98%	-19.76%	22.44%	15.52%	-2.76%	-28.35%	24.88%	-75.96%
Operating Return on Assets (OROA)	0.00%	3.71%	25.72%	26.09%	22.40%	-13.06%	-0.09%	9.62%	10.72%	6.64%
Return on Assets (ROA)	0.00%	3.63%	7.79%	22.67%	18.75%	-11.14%	-0.31%	7.71%	8.33%	3.63%
Return on Common Equity (ROCE)	0.00%	7.86%	5.11%	15.11%	14.82%	-9.03%	-0.27%	7.42%	8.17%	3.37%
Return on Equity Simple (ROE_SIMPLE)	0.00%	3.93%	12.94%	43.31%	34.25%	-25.39%	-0.62%	15.54%	18.82%	8.13%
Net Operating Profit after Tax (NOPAT)	-0.85	2.82	7.72	86	91	-42	-0.27	34	42	41
NOPAT Margin	-5.98%	15.52%	5.73%	43.75%	37.61%	-40.72%	-0.17%	10.60%	14.18%	13.21%
Net Nonoperating Expense Percent (NNEP)	0.00%	-5.61%	21.87%	-0.87%	-1.38%	-14.63%	-2.08%	2.18%	5.74%	13.83%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	12.02%	4.21%
Cost of Revenue to Revenue	72.93%	51.81%	12.53%	30.88%	36.27%	63.86%	72.53%	68.68%	60.71%	56.52%
SG&A Expenses to Revenue	18.75%	11.54%	10.60%	8.50%	7.69%	16.00%	12.10%	7.21%	9.20%	11.38%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	35.61%	32.43%	23.22%	18.77%	19.07%	94.31%	27.71%	18.26%	22.26%	26.61%
Earnings before Interest and Taxes (EBIT)	-1.28	2.87	48	99	108	-60	-0.39	42	50	53
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1.11	6.67	55	118	136	-33	27	72	86	100
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	6.44	2.26	2.04	1.60	1.35	2.04	1.64	4.90
Price to Tangible Book Value (P/TBV)	0.00	0.00	8.04	2.54	2.22	1.74	1.46	2.19	1.75	9.68
Price to Revenue (P/Rev)	0.00	0.00	5.41	2.27	2.23	3.13	1.73	1.38	1.15	5.57
Price to Earnings (P/E)	0.00	0.00	0.00	10.56	10.36	0.00	0.00	20.81	14.54	117.83
Dividend Yield	0.00%	0.00%	0.00%	1.05%	3.58%	8.87%	7.00%	4.45%	5.91%	1.67%
Earnings Yield	0.00%	0.00%	0.00%	9.47%	9.66%	0.00%	0.00%	4.81%	6.88%	0.85%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	4.22	1.76	1.80	1.47	1.27	1.58	1.39	2.69
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	5.99	2.93	2.56	3.66	2.10	1.92	1.61	7.06
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	14.62	4.92	4.56	0.00	12.37	8.47	5.47	22.10
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	16.64	5.85	5.73	0.00	0.00	14.68	9.44	41.86
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	104.47	6.70	6.81	0.00	0.00	18.09	11.34	53.45
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	30.19	4.97	5.39	8.59	20.28	9.02	5.34	37.24
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	8.20	8.09	0.00	0.00	5.20	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.04	0.00	0.04	0.00	0.00	0.00	0.25	0.10	0.47
Long-Term Debt to Equity	0.00	0.04	0.00	0.04	0.00	0.00	0.00	0.25	0.10	0.46
Financial Leverage	0.00	-0.01	-0.20	-0.13	-0.10	-0.17	-0.16	0.06	0.15	0.18
Leverage Ratio	0.00	1.08	1.16	1.27	1.28	1.26	1.33	1.41	1.47	1.62
Compound Leverage Factor	0.00	1.07	1.16	1.27	1.28	1.27	2.19	1.40	1.37	1.13
Debt to Total Capital	0.00%	4.09%	0.14%	3.67%	0.34%	0.19%	0.40%	20.27%	8.68%	32.14%
Short-Term Debt to Total Capital	0.00%	0.30%	0.01%	0.00%	0.34%	0.19%	0.40%	0.27%	0.00%	0.83%
Long-Term Debt to Total Capital	0.00%	3.78%	0.13%	3.67%	0.00%	0.00%	0.00%	19.99%	8.68%	31.31%
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%	55.32%	40.25%	35.47%	36.14%	31.67%	25.50%	31.71%	31.67%
Common Equity to Total Capital	0.00%	95.91%	44.46%	56.00%	64.18%	63.58%	67.92%	54.23%	59.61%	36.20%
Debt to EBITDA	0.00	0.46	0.01	0.11	0.01	-0.02	0.04	1.11	0.35	3.16
Net Debt to EBITDA	0.00	-0.08	-1.14	-0.10	-0.48	1.83	-1.31	0.99	0.28	1.56
Long-Term Debt to EBITDA	0.00	0.42	0.01	0.11	0.00	0.00	0.00	1.10	0.35	3.08
Debt to NOPAT	0.00	1.08	0.05	0.15	0.02	-0.01	-4.47	2.38	0.72	7.63
Net Debt to NOPAT	0.00	-0.19	-8.17	-0.14	-0.72	1.43	130.26	2.12	0.58	3.77
Long-Term Debt to NOPAT	0.00	1.00	0.04	0.15	0.00	0.00	0.00	2.35	0.72	7.44
Altman Z-Score	0.00	0.00	10.85	3.65	5.01	2.02	2.08	2.93	2.43	2.95
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	43.32%	47.68%	38.44%	35.90%	34.11%	31.89%	33.35%	42.83%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	3.20	4.27	2.29	5.77	4.04	2.77	1.59	1.80	3.83
Quick Ratio	0.00	2.63	3.73	1.83	5.17	3.89	2.38	1.40	1.43	2.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-68	-113	-51	76	47	-7.14	-92	91	-441
Operating Cash Flow to CapEx	7.76%	41.48%	28.46%	72.24%	331.81%	1,131.69%	84.23%	83.94%	142.07%	31.53%
Free Cash Flow to Firm to Interest Expense	0.00	-2,956.58	-1,161.20	-137.34	119.12	287.30	-28.91	-188.85	0.00	-108.07
Operating Cash Flow to Interest Expense	98.00	196.57	275.56	311.14	181.18	270.70	66.69	139.05	0.00	14.53
Operating Cash Flow Less CapEx to Interest Expense	-1,165.00	-277.30	-692.61	-119.56	126.58	246.78	-12.49	-26.60	0.00	-31.56
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.24	0.72	0.52	0.50	0.22	0.39	0.74	0.63	0.39
Accounts Receivable Turnover	0.00	4.03	15.41	7.48	6.17	3.63	6.20	6.24	5.02	5.26
Inventory Turnover	0.00	6.89	3.80	6.77	9.95	16.24	88.54	63.31	29.74	20.09
Fixed Asset Turnover	0.00	0.33	1.31	0.88	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	13.34	5.92	8.62	13.54	12.31	13.75	12.26	9.22	10.49
Days Sales Outstanding (DSO)	0.00	90.66	23.68	48.80	59.13	100.66	58.88	58.51	72.74	69.40
Days Inventory Outstanding (DIO)	0.00	52.96	96.15	53.95	36.67	22.47	4.12	5.77	12.27	18.17
Days Payable Outstanding (DPO)	0.00	27.35	61.65	42.33	26.96	29.66	26.54	29.78	39.60	34.80
Cash Conversion Cycle (CCC)	0.00	116.27	58.18	60.41	68.83	93.47	36.47	34.49	45.42	52.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	71	191	329	344	256	263	389	340	823
Invested Capital Turnover	0.00	0.51	1.03	0.76	0.72	0.34	0.61	0.98	0.80	0.54
Increase / (Decrease) in Invested Capital	0.00	71	120	138	15	-88	6.87	126	-49	483
Enterprise Value (EV)	0.00	0.00	807	578	619	377	334	614	471	2,211
Market Capitalization	0.00	0.00	729	448	539	322	275	440	337	1,744
Book Value per Share	$0.00	$0.00	$2.59	$4.20	$5.54	$4.43	$4.44	$4.63	$4.65	$5.87
Tangible Book Value per Share	$0.00	$0.00	$2.07	$3.74	$5.10	$4.08	$4.11	$4.32	$4.34	$2.97
Total Capital	0.00	74	255	354	411	316	299	398	346	982
Total Debt	0.00	3.04	0.36	13	1.42	0.61	1.21	81	30	316
Total Long-Term Debt	0.00	2.82	0.32	13	0.00	0.00	0.00	80	30	308
Net Debt	0.00	-0.53	-63	-12	-65	-60	-35	72	24	156
Capital Expenditures (CapEx)	28	11	94	161	35	3.88	20	81	62	188
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	3.43	3.67	20	32	1.77	16	25	24	34
Debt-free Net Working Capital (DFNWC)	0.00	7.00	67	45	99	62	53	34	30	194
Net Working Capital (NWC)	0.00	6.77	67	45	97	62	52	33	30	185
Net Nonoperating Expense (NNE)	-0.85	0.01	-6.95	0.32	0.53	9.16	0.99	0.40	2.75	12
Net Nonoperating Obligations (NNO)	0.00	-0.53	-63	-12	-65	-60	-35	72	24	156
Total Depreciation and Amortization (D&A)	2.40	3.80	6.69	19	28	27	27	31	36	47
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	18.89%	2.72%	10.34%	13.13%	1.71%	10.35%	7.84%	8.23%	10.76%
Debt-free Net Working Capital to Revenue	0.00%	38.54%	49.77%	23.04%	40.80%	60.34%	33.28%	10.60%	10.22%	61.82%
Net Working Capital to Revenue	0.00%	37.29%	49.75%	23.04%	40.22%	59.75%	32.52%	10.26%	10.22%	59.23%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.28	$1.60	$1.69	($1.03)	$0.00	$0.64	$0.78	$0.51
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	12.12M	25.68M	30.14M	28.92M	0.00	31.48M	29.69M	28.76M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.27	$1.59	$1.69	($1.03)	$0.00	$0.64	$0.78	$0.50
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	12.48M	25.83M	30.19M	28.92M	0.00	31.48M	29.69M	29.24M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	46.06M	47.13M	46.16M	45.33M	45.76M	47.22M	43.01M	67.12M
Normalized Net Operating Profit after Tax (NOPAT)	-0.85	2.82	18	86	91	-8.45	-0.27	34	43	39
Normalized NOPAT Margin	-5.98%	15.52%	13.22%	43.75%	37.61%	-8.21%	-0.17%	10.60%	14.58%	12.59%
Pre Tax Income Margin	-9.19%	15.67%	35.90%	50.16%	44.39%	-58.33%	-0.40%	12.91%	15.91%	11.79%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-58.36	124.74	499.82	264.47	170.24	-369.75	-1.57	85.49	0.00	12.93
NOPAT to Interest Expense	-38.60	122.51	79.62	230.69	143.37	-258.83	-1.10	69.34	0.00	10.13
EBIT Less CapEx to Interest Expense	-1,321.36	-349.13	-468.34	-166.22	115.63	-393.67	-80.75	-80.16	0.00	-33.16
NOPAT Less CapEx to Interest Expense	-1,301.60	-351.36	-888.55	-200.01	88.76	-282.75	-80.28	-96.31	0.00	-35.97
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	175.91%	5.48%	21.31%	-37.24%	-1,536.35%	58.39%	53.40%	80.01%
Augmented Payout Ratio	0.00%	0.00%	175.91%	6.82%	26.14%	-90.42%	-1,536.35%	58.39%	121.58%	126.15%

This table displays calculated financial ratios and metrics derived from Solaris Energy Infrastructure's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	82.87%	45.34%	-10.97%	-24.53%	-24.64%	-17.93%	-4.30%	7.67%	52.02%	86.08%	102.11%
EBITDA Growth	115.89%	62.22%	42.85%	-11.54%	-0.07%	-14.56%	-13.77%	-10.42%	126.38%	111.76%	151.86%
EBIT Growth	483.23%	100.76%	54.18%	-28.49%	-8.36%	-33.10%	-24.87%	-47.33%	178.53%	121.52%	200.06%
NOPAT Growth	604.69%	112.96%	55.06%	-26.56%	-5.09%	-35.56%	-19.57%	-56.83%	154.45%	113.43%	173.59%
Net Income Growth	624.30%	108.62%	47.68%	-33.65%	-12.89%	-38.85%	-19.75%	-128.93%	101.24%	77.64%	145.61%
EPS Growth	628.57%	109.09%	50.00%	0.00%	-59.46%	-39.13%	-16.67%	-125.00%	33.33%	0.00%	50.00%
Operating Cash Flow Growth	404.27%	168.77%	67.12%	-2.96%	-2.08%	0.15%	-29.95%	-49.64%	-44.45%	52.43%	28.10%
Free Cash Flow Firm Growth	-1,966.63%	-175.76%	-339.92%	28.52%	148.10%	106.69%	184.61%	-1,113.00%	-915.23%	-20,056.30%	-976.77%
Invested Capital Growth	48.08%	21.05%	42.40%	11.87%	-12.63%	1.46%	-20.02%	99.88%	142.12%	185.31%	255.73%
Revenue Q/Q Growth	-8.96%	-1.58%	-6.67%	-9.75%	-9.08%	7.17%	8.83%	1.53%	28.37%	31.19%	18.20%
EBITDA Q/Q Growth	-13.61%	24.28%	6.69%	-22.77%	-2.41%	6.01%	7.68%	-19.77%	146.63%	-0.82%	28.08%
EBIT Q/Q Growth	-27.89%	47.58%	6.03%	-36.62%	-7.59%	7.74%	19.06%	-55.57%	388.68%	-14.31%	61.27%
NOPAT Q/Q Growth	-30.05%	51.41%	5.25%	-34.12%	-9.60%	2.80%	31.37%	-64.64%	432.87%	-13.78%	68.39%
Net Income Q/Q Growth	-30.60%	49.42%	2.55%	-37.60%	-8.89%	4.90%	34.58%	-122.50%	733.67%	-7.40%	86.07%
EPS Q/Q Growth	0.00%	-37.84%	4.35%	-33.33%	-6.25%	-74.55%	42.86%	-120.00%	600.00%	-30.00%	114.29%
Operating Cash Flow Q/Q Growth	11.92%	-30.04%	59.94%	-22.51%	12.94%	-28.44%	11.86%	-44.29%	24.57%	96.35%	-5.99%
Free Cash Flow Firm Q/Q Growth	-199.32%	61.23%	-140.62%	74.40%	301.42%	123.51%	2,942.90%	-467.01%	-35.37%	-32.01%	-33.69%
Invested Capital Q/Q Growth	25.63%	-14.04%	23.75%	-16.28%	-1.89%	-17.21%	-2.45%	109.23%	18.85%	17.62%	21.63%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	32.55%	35.66%	40.87%	39.57%	41.80%	41.25%	37.56%	37.45%	54.28%	46.40%	63.82%
EBITDA Margin	22.33%	28.20%	32.24%	27.59%	29.61%	29.36%	29.05%	22.95%	44.10%	33.34%	36.13%
Operating Margin	12.00%	17.99%	20.44%	14.35%	14.59%	14.66%	16.04%	7.02%	26.73%	17.46%	23.82%
EBIT Margin	12.00%	17.99%	20.44%	14.35%	14.59%	14.66%	16.04%	7.02%	26.73%	17.46%	23.82%
Profit (Net Income) Margin	9.50%	14.43%	15.86%	10.96%	10.99%	10.75%	13.30%	-2.95%	14.54%	10.27%	16.16%
Tax Burden Percent	80.67%	82.76%	82.15%	85.41%	83.55%	79.72%	87.96%	126.29%	76.33%	76.81%	80.20%
Interest Burden Percent	98.21%	96.92%	94.43%	89.43%	90.13%	91.97%	94.22%	-33.23%	71.28%	76.55%	84.59%
Effective Tax Rate	19.33%	17.24%	17.85%	14.59%	16.45%	20.28%	12.04%	0.00%	23.67%	23.19%	19.80%
Return on Invested Capital (ROIC)	9.51%	16.87%	16.04%	11.73%	9.80%	9.66%	10.42%	2.65%	10.99%	7.63%	11.33%
ROIC Less NNEP Spread (ROIC-NNEP)	8.71%	833.83%	14.45%	5.77%	8.21%	7.26%	9.40%	-2.42%	4.72%	5.21%	9.18%
Return on Net Nonoperating Assets (RNNOA)	0.52%	-0.13%	2.15%	0.28%	1.24%	0.62%	1.79%	-0.70%	0.87%	1.75%	3.43%
Return on Equity (ROE)	10.02%	16.75%	18.19%	12.01%	11.05%	10.28%	12.20%	1.95%	11.86%	9.38%	14.76%
Cash Return on Invested Capital (CROIC)	-28.35%	-5.79%	-22.19%	1.58%	24.88%	9.59%	31.55%	-60.93%	-75.96%	-88.49%	-103.19%
Operating Return on Assets (OROA)	8.84%	14.05%	14.83%	9.57%	9.18%	8.77%	9.36%	2.77%	10.52%	8.17%	11.03%
Return on Assets (ROA)	7.00%	11.27%	11.51%	7.31%	6.91%	6.43%	7.76%	-1.16%	5.72%	4.81%	7.48%
Return on Common Equity (ROCE)	6.83%	11.32%	12.18%	8.03%	7.36%	6.76%	7.93%	1.03%	6.78%	5.38%	8.12%
Return on Equity Simple (ROE_SIMPLE)	0.00%	19.11%	21.61%	19.44%	0.00%	17.06%	15.50%	9.87%	0.00%	9.57%	0.00%
Net Operating Profit after Tax (NOPAT)	8.14	12	13	8.54	7.72	7.94	10	3.69	20	17	29
NOPAT Margin	9.68%	14.89%	16.79%	12.26%	12.19%	11.69%	14.11%	4.91%	20.40%	13.41%	19.10%
Net Nonoperating Expense Percent (NNEP)	0.80%	-816.96%	1.59%	5.95%	1.59%	2.40%	1.01%	5.08%	6.27%	2.42%	2.14%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	2.23%	-	-	-	2.00%	1.72%	2.17%
Cost of Revenue to Revenue	67.45%	64.34%	59.13%	60.43%	58.20%	58.75%	62.44%	62.55%	45.72%	53.60%	36.18%
SG&A Expenses to Revenue	6.99%	7.90%	8.84%	9.13%	11.41%	11.77%	11.18%	11.73%	10.98%	12.09%	9.98%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.55%	17.67%	20.43%	25.22%	27.21%	26.58%	21.52%	30.43%	27.55%	28.95%	40.00%
Earnings before Interest and Taxes (EBIT)	10	15	16	10	9.24	9.96	12	5.27	26	22	36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	19	23	25	19	19	20	21	17	42	42	54
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.04	1.84	1.79	2.18	1.64	1.92	1.85	2.53	4.90	4.04	4.79
Price to Tangible Book Value (P/TBV)	2.19	1.98	1.92	2.34	1.75	2.06	1.97	11.95	9.68	7.72	8.31
Price to Revenue (P/Rev)	1.38	1.11	1.08	1.42	1.15	1.38	1.37	2.00	5.57	3.93	4.27
Price to Earnings (P/E)	20.81	15.37	13.61	18.70	14.54	18.13	19.07	40.34	117.83	92.44	89.29
Dividend Yield	4.45%	5.25%	5.45%	4.30%	5.91%	5.31%	5.48%	4.62%	1.67%	2.21%	1.70%
Earnings Yield	4.81%	6.50%	7.35%	5.35%	6.88%	5.51%	5.24%	2.48%	0.85%	1.08%	1.12%
Enterprise Value to Invested Capital (EV/IC)	1.58	1.52	1.39	1.70	1.39	1.54	1.52	1.49	2.69	2.14	2.28
Enterprise Value to Revenue (EV/Rev)	1.92	1.47	1.70	1.87	1.61	1.88	1.83	3.68	7.06	5.56	6.01
Enterprise Value to EBITDA (EV/EBITDA)	8.47	6.25	6.46	6.82	5.47	6.31	6.34	13.33	22.10	16.90	17.37
Enterprise Value to EBIT (EV/EBIT)	14.68	10.33	10.47	11.58	9.44	11.62	12.28	28.41	41.86	31.84	30.33
Enterprise Value to NOPAT (EV/NOPAT)	18.09	12.58	12.72	14.01	11.34	14.07	14.55	34.95	53.45	41.10	39.44
Enterprise Value to Operating Cash Flow (EV/OCF)	9.02	6.48	6.41	6.62	5.34	5.81	6.15	14.43	37.24	30.30	36.57
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	113.37	5.20	16.19	4.29	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.25	0.08	0.37	0.12	0.10	0.11	0.06	0.64	0.47	0.47	0.69
Long-Term Debt to Equity	0.25	0.08	0.37	0.12	0.10	0.10	0.00	0.63	0.46	0.46	0.66
Financial Leverage	0.06	0.00	0.15	0.05	0.15	0.09	0.19	0.29	0.18	0.34	0.37
Leverage Ratio	1.41	1.45	1.51	1.50	1.47	1.50	1.51	1.76	1.62	1.62	1.76
Compound Leverage Factor	1.39	1.41	1.43	1.34	1.33	1.38	1.42	-0.59	1.15	1.24	1.49
Debt to Total Capital	20.27%	7.73%	27.08%	10.58%	8.68%	9.54%	5.56%	38.99%	32.14%	32.12%	40.70%
Short-Term Debt to Total Capital	0.27%	0.00%	0.00%	0.00%	0.00%	0.78%	5.56%	0.50%	0.83%	1.24%	1.27%
Long-Term Debt to Total Capital	19.99%	7.73%	27.08%	10.58%	8.68%	8.76%	0.00%	38.49%	31.31%	30.88%	39.43%
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	25.50%	30.49%	25.13%	30.86%	31.71%	32.03%	33.52%	33.60%	31.67%	31.17%	28.97%
Common Equity to Total Capital	54.23%	61.78%	47.80%	58.56%	59.61%	58.43%	60.92%	27.41%	36.20%	36.71%	30.33%
Debt to EBITDA	1.11	0.32	1.29	0.43	0.35	0.39	0.24	4.07	3.16	2.59	3.46
Net Debt to EBITDA	0.99	0.29	1.19	0.39	0.28	0.35	0.17	2.57	1.56	2.45	2.56
Long-Term Debt to EBITDA	1.10	0.32	1.29	0.43	0.35	0.36	0.00	4.02	3.08	2.49	3.35
Debt to NOPAT	2.38	0.64	2.54	0.88	0.72	0.88	0.54	10.68	7.63	6.29	7.86
Net Debt to NOPAT	2.12	0.59	2.33	0.80	0.58	0.79	0.39	6.73	3.77	5.96	5.82
Long-Term Debt to NOPAT	2.35	0.64	2.54	0.88	0.72	0.81	0.00	10.54	7.44	6.05	7.61
Altman Z-Score	2.70	2.36	2.17	2.45	2.14	2.37	2.40	1.28	2.87	2.37	2.22
Noncontrolling Interest Sharing Ratio	31.89%	32.39%	33.05%	33.12%	33.35%	34.22%	34.98%	47.09%	42.83%	42.59%	44.99%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.59	1.56	1.70	1.75	1.80	1.78	1.25	3.61	3.83	1.67	3.11
Quick Ratio	1.40	1.34	1.42	1.37	1.43	1.49	0.99	1.50	2.84	1.41	2.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-118	-46	-110	-28	57	3.06	93	-342	-463	-611	-817
Operating Cash Flow to CapEx	109.99%	89.50%	127.48%	139.33%	328.77%	504.03%	3,054.37%	18.21%	10.35%	17.82%	13.06%
Free Cash Flow to Firm to Interest Expense	-652.60	-99.78	0.00	0.00	0.00	3.83	0.00	-83.76	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	133.06	36.71	0.00	0.00	0.00	21.12	0.00	2.57	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	12.08	-4.31	0.00	0.00	0.00	16.93	0.00	-11.56	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.74	0.78	0.73	0.67	0.63	0.60	0.58	0.39	0.39	0.47	0.46
Accounts Receivable Turnover	6.24	5.88	5.18	4.96	5.02	4.59	4.69	4.72	5.26	5.35	5.31
Inventory Turnover	63.31	48.24	34.24	30.27	29.74	22.62	18.99	18.25	20.09	22.58	20.54
Fixed Asset Turnover	0.00	1.23	0.00	1.02	0.00	0.88	0.00	1.04	0.00	0.93	0.00
Accounts Payable Turnover	12.26	10.00	8.21	8.57	9.22	7.82	7.32	9.47	10.49	10.14	7.46
Days Sales Outstanding (DSO)	58.51	62.07	70.41	73.58	72.74	79.46	77.82	77.28	69.40	68.22	68.74
Days Inventory Outstanding (DIO)	5.77	7.57	10.66	12.06	12.27	16.14	19.22	20.00	18.17	16.16	17.77
Days Payable Outstanding (DPO)	29.78	36.49	44.46	42.59	39.60	46.68	49.84	38.55	34.80	35.98	48.92
Cash Conversion Cycle (CCC)	34.49	33.15	36.61	43.04	45.42	48.91	47.21	58.74	52.77	48.41	37.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	389	334	414	346	340	339	331	692	823	968	1,177
Invested Capital Turnover	0.98	1.13	0.96	0.96	0.80	0.83	0.74	0.54	0.54	0.57	0.59
Increase / (Decrease) in Invested Capital	126	58	123	37	-49	4.87	-83	346	483	628	846
Enterprise Value (EV)	614	509	573	588	471	523	504	1,032	2,211	2,067	2,688
Market Capitalization	440	382	362	446	337	384	378	561	1,744	1,461	1,911
Book Value per Share	$4.63	$4.40	$4.41	$4.64	$4.65	$7.00	$4.65	$5.04	$5.87	$5.38	$5.91
Tangible Book Value per Share	$4.32	$4.10	$4.11	$4.32	$4.34	$6.53	$4.34	$1.07	$2.97	$2.82	$3.40
Total Capital	398	336	423	350	346	343	336	809	982	984	1,316
Total Debt	81	26	115	37	30	33	19	315	316	316	535
Total Long-Term Debt	80	26	115	37	30	30	0.00	311	308	304	519
Net Debt	72	24	105	34	24	29	14	199	156	299	396
Capital Expenditures (CapEx)	22	19	21	15	7.17	3.35	0.62	58	127	144	185
Debt-free, Cash-free Net Working Capital (DFCFNWC)	25	29	26	29	24	27	29	30	34	46	69
Debt-free Net Working Capital (DFNWC)	34	31	36	32	30	30	34	146	194	63	208
Net Working Capital (NWC)	33	31	36	32	30	28	15	142	185	51	192
Net Nonoperating Expense (NNE)	0.15	0.38	0.72	0.90	0.76	0.64	0.60	5.90	5.64	3.97	4.40
Net Nonoperating Obligations (NNO)	72	24	105	34	24	29	14	199	156	299	396
Total Depreciation and Amortization (D&A)	8.69	8.45	9.11	9.22	9.52	9.98	9.61	12	17	20	18
Debt-free, Cash-free Net Working Capital to Revenue	7.84%	8.25%	7.77%	9.10%	8.23%	9.65%	10.43%	10.69%	10.76%	12.45%	15.54%
Debt-free Net Working Capital to Revenue	10.60%	8.88%	10.56%	10.20%	10.22%	10.88%	12.28%	52.29%	61.82%	16.95%	46.65%
Net Working Capital to Revenue	10.26%	8.88%	10.56%	10.20%	10.22%	9.91%	5.48%	50.84%	59.23%	13.67%	42.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.37	$0.23	$0.00	$0.00	$0.15	$0.14	$0.20	($0.04)	$0.21	$0.14	$0.30
Adjusted Weighted Average Basic Shares Outstanding	31.48M	31.21M	0.00	0.00	29.69M	28.59M	28.34M	28.38M	28.76M	36.18M	37.82M
Adjusted Diluted Earnings per Share	$0.37	$0.23	$0.00	$0.00	$0.15	$0.14	$0.20	($0.04)	$0.20	$0.14	$0.30
Adjusted Weighted Average Diluted Shares Outstanding	31.48M	31.21M	0.00	0.00	29.69M	28.59M	28.34M	28.38M	29.24M	36.18M	37.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	47.22M	45.80M	44.15M	44.25M	43.01M	44.02M	44.00M	60.59M	67.12M	67.54M	67.58M
Normalized Net Operating Profit after Tax (NOPAT)	8.14	12	13	9.76	7.72	7.94	8.24	3.69	20	17	29
Normalized NOPAT Margin	9.68%	14.89%	16.79%	14.00%	12.19%	11.69%	11.16%	4.91%	20.40%	13.41%	19.10%
Pre Tax Income Margin	11.78%	17.44%	19.30%	12.84%	13.15%	13.49%	15.12%	-2.33%	19.05%	13.36%	20.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	55.71	32.42	0.00	0.00	0.00	12.46	0.00	1.29	0.00	0.00	0.00
NOPAT to Interest Expense	44.94	26.83	0.00	0.00	0.00	9.93	0.00	0.90	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-65.27	-8.59	0.00	0.00	0.00	8.27	0.00	-12.85	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-76.03	-14.18	0.00	0.00	0.00	5.74	0.00	-13.23	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	58.39%	51.15%	46.53%	50.97%	53.40%	59.62%	65.40%	96.80%	80.01%	78.73%	61.47%
Augmented Payout Ratio	58.39%	87.47%	105.50%	115.67%	121.58%	118.50%	93.05%	136.90%	126.15%	93.91%	72.21%

Key Financial Trends

Solaris Oilfield Infrastructure (NYSE: SOI) has shown a positive trend in key financial metrics over the past four years through Q2 2025:

Net income has increased significantly, reaching $24.1 million in Q2 2025 versus $7.3 million in Q1 2024, indicating improved profitability.
Operating revenue has grown from approximately $67.9 million in Q1 2024 to $149.3 million in Q2 2025, reflecting solid revenue growth.
Gross profit margin improved, with gross profit rising to $95.3 million in Q2 2025 compared to $28 million in Q1 2024, suggesting better cost control or higher margin products/services.
Net cash provided by operating activities increased to $24.2 million in Q2 2025 from $16.9 million in Q1 2024, showing stronger operational cash flow generation.
The company invested heavily in property, plant, and equipment (capex), with purchases of $185.1 million in Q2 2025, up from $3.4 million in Q1 2024, which could support future growth.
Cash and equivalents increased significantly to $99.6 million in Q2 2025 from $16.7 million in Q1 2025, reflecting improved liquidity but also possible large financing activity.
Issuance of debt rose to $227.1 million in Q2 2025 compared to no debt issuance in Q1 2025, pointing to increased leverage or refinancing actions.
Total liabilities grew substantially from $461.7 million in Q1 2025 to $692.4 million in Q2 2025, driven mainly by increased long-term debt, which could impact financial risk.
Net cash used in investing activities rose sharply to $192.7 million outflow in Q2 2025 versus $144.3 million outflow in Q1 2025, increasing cash burn from investments.
Despite increased net income, net income attributable to common shareholders remained relatively low at $11.4 million in Q2 2025 compared to $5.0 million in Q1 2025, indicating a significant portion of earnings goes to noncontrolling interests ($12.7 million in Q2 2025).

Overall, Solaris Oilfield Infrastructure shows a robust growth trajectory in revenue and profitability, supported by strong cash flows from operations and major capital expenditures for expansion. However, this growth is accompanied by rising debt levels and significant cash outflows in investing activities, increasing financial leverage and risk. Investors should monitor how effectively the company manages its debt and converts investments into earnings attributable to common shareholders.

08/29/25 01:44 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Solaris Energy Infrastructure's Financials

When does Solaris Energy Infrastructure's fiscal year end?

According to the most recent income statement we have on file, Solaris Energy Infrastructure's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Solaris Energy Infrastructure's net income changed over the last 9 years?

Solaris Energy Infrastructure's net income appears to be on an upward trend, with a most recent value of $28.92 million in 2024, rising from $0.00 in 2015. The previous period was $38.78 million in 2023. See where experts think Solaris Energy Infrastructure is headed by visiting Solaris Energy Infrastructure's forecast page.

What is Solaris Energy Infrastructure's operating income?

Solaris Energy Infrastructure's total operating income in 2024 was $52.82 million, based on the following breakdown:

Total Gross Profit: $136.12 million
Total Operating Expenses: $83.30 million

How has Solaris Energy Infrastructure's revenue changed over the last 9 years?

Over the last 9 years, Solaris Energy Infrastructure's total revenue changed from $14.21 million in 2015 to $313.09 million in 2024, a change of 2,104.1%.

How much debt does Solaris Energy Infrastructure have?

Solaris Energy Infrastructure's total liabilities were at $456.15 million at the end of 2024, a 198.7% increase from 2023, and a 7,644.5% increase since 2016.

How much cash does Solaris Energy Infrastructure have?

In the past 8 years, Solaris Energy Infrastructure's cash and equivalents has ranged from $3.57 million in 2016 to $114.26 million in 2024, and is currently $114.26 million as of their latest financial filing in 2024.

How has Solaris Energy Infrastructure's book value per share changed over the last 9 years?

Over the last 9 years, Solaris Energy Infrastructure's book value per share changed from 0.00 in 2015 to 5.87 in 2024, a change of 586.9%.

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This page (NYSE:SEI) was last updated on 8/29/2025 by MarketBeat.com Staff

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Solaris Energy Infrastructure (SEI) Financials

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Solaris Energy Infrastructure (SEI) Financials

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