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Solarmax Technology (SMXT) Financials

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$0.35 0.00 (0.00%)
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Annual Income Statements for Solarmax Technology

Annual Income Statements for Solarmax Technology

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

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -4.46 0.43 -35 -6.33
Consolidated Net Income / (Loss)		 -6.87 0.43 -35 -6.33
Net Income / (Loss) Continuing Operations		 -4.46 0.43 -35 -6.33
Total Pre-Tax Income 		-6.83 0.37 -33 -7.46
Total Operating Income		 -7.97 0.48 -33 -6.30
Total Gross Profit		 7.48 11 2.31 4.23
Total Revenue		 45 54 23 91
Operating Revenue		 45 54 23 91
Total Cost of Revenue		 37 43 21 87
Operating Cost of Revenue		 37 43 21 87
Total Operating Expenses		 14 11 35 11
Selling, General & Admin Expense		 14 9.51 27 10
Marketing Expense		 - 1.16 0.52 0.37
Impairment Charge		 - 0.00 7.46 0.00
Total Other Income / (Expense), net		 1.14 -0.11 -0.19 -1.16
Interest Expense		 -1.95 1.55 1.26 2.34
Interest & Investment Income		 0.06 0.07 1.14 0.79
Other Income / (Expense), net		 0.46 1.37 -0.07 0.39
Income Tax Expense		 0.04 -0.06 1.66 -1.13
Basic Earnings per Share		 ($0.17) $0.01 ($0.79) ($0.13)
Weighted Average Basic Shares Outstanding		 39.74M 39.74M 44.34M 49.98M
Diluted Earnings per Share		 ($0.17) $0.01 ($0.79) ($0.13)
Weighted Average Diluted Shares Outstanding		 39.74M 40.03M 44.34M 49.98M
Weighted Average Basic & Diluted Shares Outstanding		 - - 45.83M 56.91M

Quarterly Income Statements for Solarmax Technology

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 1.47 0.08 -19 -2.16 -9.62 -3.90 -1.30 -1.90 -2.26 -0.87 -0.31
Consolidated Net Income / (Loss)		 1.47 0.08 -19 -2.16 -9.62 -3.90 -1.30 -1.90 -2.26 -0.87 -0.31
Net Income / (Loss) Continuing Operations		 1.47 0.08 -19 -2.16 -9.62 -3.90 -1.30 -1.90 -2.26 -0.87 -0.31
Total Pre-Tax Income 		1.32 -0.13 -19 -2.28 -9.57 -2.19 -1.36 -2.00 -2.77 -1.32 -0.31
Total Operating Income		 0.92 -0.05 -19 -2.40 -10 -1.80 -1.16 -1.77 -2.11 -1.26 0.10
Total Gross Profit		 4.05 2.95 -0.46 0.59 1.26 0.93 1.42 0.60 0.96 1.25 3.05
Total Revenue		 14 12 5.76 4.45 6.33 6.44 6.93 6.88 31 47 15
Operating Revenue		 14 12 5.76 4.45 6.33 6.44 6.93 6.88 31 47 15
Total Cost of Revenue		 10 9.30 6.23 3.87 5.07 5.50 5.51 6.28 30 45 12
Operating Cost of Revenue		 10 9.30 6.23 3.87 5.07 5.50 5.51 6.28 30 45 12
Total Operating Expenses		 3.13 3.01 18 2.99 11 2.81 2.57 2.37 3.06 2.51 2.95
Selling, General & Admin Expense		 2.83 2.81 18 2.90 3.68 2.61 2.50 2.30 2.92 2.44 2.91
Marketing Expense		 0.30 0.19 0.17 0.09 0.14 0.12 0.08 0.07 0.15 0.07 0.04
Total Other Income / (Expense), net		 0.40 -0.07 -0.46 0.12 0.46 -0.31 -0.20 -0.24 -0.67 -0.06 -0.41
Interest Expense		 0.33 0.39 0.33 0.16 0.39 0.38 0.37 0.68 1.02 0.28 0.26
Interest & Investment Income		 0.02 0.02 0.02 0.14 0.21 0.77 0.11 0.23 0.12 0.33 -0.23
Other Income / (Expense), net		 0.71 0.30 -0.15 0.14 0.64 -0.70 0.06 0.21 0.23 -0.11 0.08
Income Tax Expense		 -0.14 -0.21 0.00 -0.11 0.06 1.72 -0.06 -0.11 -0.52 -0.45 -0.01
Basic Earnings per Share		 $0.04 - ($0.46) ($0.05) ($0.21) ($0.07) ($0.03) ($0.04) ($0.04) ($0.02) ($0.01)
Weighted Average Basic Shares Outstanding		 39.74M 39.74M 41.46M 41.48M 45.16M 44.34M 44.42M 45.82M 52.71M 49.98M 56.18M
Diluted Earnings per Share		 $0.04 - ($0.46) ($0.05) ($0.21) ($0.07) ($0.03) ($0.04) ($0.04) ($0.02) ($0.01)
Weighted Average Diluted Shares Outstanding		 40.03M 40.03M 41.46M 41.48M 45.16M 44.34M 44.42M 45.82M 52.71M 49.98M 56.18M
Weighted Average Basic & Diluted Shares Outstanding		 - 0.00 44.98M 41.48M 45.28M 45.83M 47.41M 54.30M 54.30M 56.91M 56.91M

Annual Cash Flow Statements for Solarmax Technology

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

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 1.18 -1.28 -1.39 7.18
Net Cash From Operating Activities		 -1.97 4.09 -9.13 0.50
Net Cash From Continuing Operating Activities		 8.44 4.09 -9.13 0.50
Net Income / (Loss) Continuing Operations		 -6.87 0.43 -35 -6.33
Consolidated Net Income / (Loss)		 -6.87 0.43 -35 -6.33
Depreciation Expense		 0.28 0.18 0.08 0.06
Amortization Expense		 1.12 1.56 1.66 1.64
Non-Cash Adjustments To Reconcile Net Income		 12 4.15 27 -40
Changes in Operating Assets and Liabilities, net		 2.28 -2.23 -2.83 46
Net Cash From Investing Activities		 -0.28 -0.01 -6.32 5.84
Net Cash From Continuing Investing Activities		 -0.28 -0.01 -6.32 5.84
Purchase of Investments		 - 0.00 -7.69 0.00
Sale of Property, Plant & Equipment		 0.09 0.02 0.02 0.00
Sale and/or Maturity of Investments		 - 0.00 1.35 5.84
Net Cash From Financing Activities		 -7.50 -5.32 13 1.15
Net Cash From Continuing Financing Activities		 -7.50 -5.32 14 1.15
Repayment of Debt		 -7.14 -4.85 -5.89 -3.26
Issuance of Common Equity		 - 0.00 20 4.75
Other Financing Activities, net		 -0.36 -0.47 0.10 -0.35
Effect of Exchange Rate Changes		 - -0.04 - -0.30
Cash Interest Paid		 1.63 1.09 1.36 1.38
Cash Income Taxes Paid		 0.00 0.18 0.16 0.17

Quarterly Cash Flow Statements for Solarmax Technology

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -2.76 -0.60 2.39 -3.61 -0.52 0.35 -0.19 1.32 3.81 2.25 -3.66
Net Cash From Operating Activities		 0.99 4.48 -6.40 -1.62 0.20 -1.31 -0.60 0.22 3.40 -2.52 -4.19
Net Cash From Continuing Operating Activities		 -1.94 5.18 -6.40 -1.62 0.20 -1.31 -0.60 0.22 3.40 -2.52 -4.19
Net Income / (Loss) Continuing Operations		 -1.47 0.78 -19 -2.16 -9.62 -3.90 -1.30 -1.90 -2.26 -0.87 -0.31
Consolidated Net Income / (Loss)		 -1.47 0.78 -19 -2.16 -9.62 -3.90 -1.30 -1.90 -2.26 -0.87 -0.31
Depreciation Expense		 0.04 0.04 0.02 0.02 0.02 0.01 0.02 0.02 0.01 0.01 0.01
Amortization Expense		 0.39 0.40 0.41 0.41 0.42 0.42 0.41 0.41 0.42 0.41 0.29
Non-Cash Adjustments To Reconcile Net Income		 4.25 4.20 18 -1.40 8.11 2.15 0.22 0.96 -17 -25 -7.08
Changes in Operating Assets and Liabilities, net		 -5.16 -0.25 -5.62 1.51 1.27 0.01 0.05 0.74 22 23 2.90
Net Cash From Investing Activities		 -0.00 -0.00 -6.99 -0.69 -0.02 1.38 0.09 0.04 0.50 5.20 0.55
Net Cash From Continuing Investing Activities		 -0.00 -0.00 -6.99 -0.69 -0.02 1.38 0.09 0.04 0.50 5.20 0.55
Sale and/or Maturity of Investments		 - - 0.00 - - 1.35 0.09 0.04 0.50 5.20 0.55
Net Cash From Financing Activities		 -0.62 -5.34 16 -1.36 -0.36 -0.55 0.38 1.18 -0.07 -0.33 -0.01
Net Cash From Continuing Financing Activities		 -0.62 -5.34 16 -1.36 -0.36 0.20 0.38 1.18 -0.07 -0.33 -0.01
Repayment of Debt		 -0.41 -0.71 -3.00 -2.05 -0.29 -0.55 -0.05 -0.20 -2.30 -0.70 -1.10
Issuance of Common Equity		 - - 19 - - 1.27 0.50 1.95 2.38 0.42 1.10
Other Financing Activities, net		 -0.21 -4.63 0.00 -0.21 -0.07 0.37 -0.07 -0.57 -0.15 -0.06 0.00
Effect of Exchange Rate Changes		 - - 0.21 0.05 -0.35 - -0.06 -0.12 -0.02 -0.10 -0.01
Cash Interest Paid		 0.25 0.06 0.54 0.28 0.48 0.06 0.39 -0.03 0.53 0.49 0.40
Cash Income Taxes Paid		 0.30 -0.12 0.00 0.00 - 0.16 0.01 - - 0.16 0.03

Annual Balance Sheets for Solarmax Technology

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

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 85 49 39 91
Total Current Assets		 31 20 21 75
Cash & Equivalents		 4.00 2.54 0.79 7.97
Short-Term Investments		 - 0.00 6.34 0.52
Note & Lease Receivable		 3.44 2.21 1.29 0.87
Accounts Receivable		 9.90 7.95 5.96 15
Inventories, net		 3.90 1.34 1.30 2.06
Other Current Assets		 5.46 5.88 5.28 49
Plant, Property, & Equipment, net		 0.44 0.29 0.20 0.14
Total Noncurrent Assets		 54 28 17 16
Long-Term Investments		 15 9.70 10 11
Noncurrent Note & Lease Receivables		 6.84 4.32 3.08 2.26
Other Noncurrent Operating Assets		 24 6.29 4.11 2.55
Other Noncurrent Nonoperating Assets		 0.35 0.35 0.28 0.28
Total Liabilities & Shareholders' Equity		 85 49 39 91
Total Liabilities		 117 65 54 103
Total Current Liabilities		 54 43 35 96
Short-Term Debt		 21 22 18 20
Accounts Payable		 22 20 15 74
Other Current Liabilities		 11 1.50 1.57 1.71
Total Noncurrent Liabilities		 54 21 19 7.79
Long-Term Debt		 38 14 14 5.34
Noncurrent Deferred & Payable Income Tax Liabilities		 - 0.00 1.62 0.25
Other Noncurrent Operating Liabilities		 16 6.87 3.82 2.19
Total Equity & Noncontrolling Interests		 -32 -16 -15 -12
Total Preferred & Common Equity		 -32 -16 -15 -12
Preferred Stock		 0.00 0.00 0.00 0.00
Total Common Equity		 -32 -16 -15 -12
Common Stock		 112 56 92 101
Retained Earnings		 -138 -69 -104 -110
Treasury Stock		 -3.62 -1.81 -1.98 -1.98
Accumulated Other Comprehensive Income / (Loss)		 -2.35 -1.28 -1.45 -1.42

Quarterly Balance Sheets for Solarmax Technology

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

Metric Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 55 51 43 39 38 59 106
Total Current Assets		 27 25 24 22 22 42 80
Cash & Equivalents		 4.93 1.36 0.87 0.60 1.92 5.72 4.31
Short-Term Investments		 7.00 7.69 7.71 6.25 6.20 5.71 0.00
Note & Lease Receivable		 1.40 1.55 1.42 1.20 1.15 0.90 0.84
Accounts Receivable		 8.75 8.25 8.43 5.84 5.24 15 15
Inventories, net		 1.25 1.56 1.52 2.30 1.59 1.61 1.72
Other Current Assets		 3.94 4.30 4.22 5.37 5.45 14 58
Plant, Property, & Equipment, net		 0.27 0.24 0.22 0.18 0.16 0.15 0.13
Total Noncurrent Assets		 27 26 19 17 17 16 26
Long-Term Investments		 9.56 9.73 10 10 10 11 11
Noncurrent Note & Lease Receivables		 4.44 3.77 3.49 2.80 2.59 2.54 2.03
Other Noncurrent Operating Assets		 5.19 4.82 4.75 3.72 3.34 3.06 13
Other Noncurrent Nonoperating Assets		 0.36 0.31 - 0.28 0.28 0.28 0.28
Total Liabilities & Shareholders' Equity		 55 51 43 39 38 59 106
Total Liabilities		 55 54 54 54 53 70 118
Total Current Liabilities		 36 35 38 39 40 58 98
Short-Term Debt		 20 18 20 21 21 16 18
Accounts Payable		 15 15 16 16 17 39 79
Other Current Liabilities		 1.47 1.50 1.54 1.61 1.64 1.68 1.02
Total Noncurrent Liabilities		 19 19 16 15 14 13 20
Long-Term Debt		 6.36 7.04 6.78 11 9.57 9.70 6.32
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - 1.56 1.46 0.78 0.22
Other Noncurrent Operating Liabilities		 13 12 9.48 3.32 2.52 2.45 13
Total Equity & Noncontrolling Interests		 -0.59 -2.81 -11 -16 -15 -12 -11
Total Preferred & Common Equity		 -0.59 -2.81 -11 -16 -15 -12 -11
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -0.59 -2.81 -11 -16 -15 -12 -11
Common Stock		 91 91 92 92 95 101 102
Retained Earnings		 -88 -90 -100 -105 -107 -109 -110
Treasury Stock		 -1.81 -1.81 -1.81 -1.98 -1.98 -1.98 -1.98
Accumulated Other Comprehensive Income / (Loss)		 -1.49 -1.56 -1.38 -1.45 -1.45 -1.44 -1.41

Annual Metrics And Ratios for Solarmax Technology

This table displays calculated financial ratios and metrics derived from Solarmax Technology's official financial filings.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 45,284,010.00 54,302,950.00
DEI Adjusted Shares Outstanding		 0.00 0.00 45,284,010.00 54,302,950.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 -0.77 -0.12
Growth Metrics		 - - - -
Revenue Growth		 0.00% 21.07% -57.54% 295.80%
EBITDA Growth		 0.00% 158.78% -975.08% 86.62%
EBIT Growth		 0.00% 124.67% -1,891.40% 82.18%
NOPAT Growth		 0.00% 110.18% -4,182.08% 80.98%
Net Income Growth		 0.00% 106.33% -8,141.27% 81.91%
EPS Growth		 0.00% 105.88% -8,000.00% 83.54%
Operating Cash Flow Growth		 0.00% 307.51% -323.17% 105.46%
Free Cash Flow Firm Growth		 0.00% 0.00% -343.15% 105.94%
Invested Capital Growth		 0.00% -40.62% -112.03% -559.08%
Revenue Q/Q Growth		 0.00% 0.00% -20.17% 78.92%
EBITDA Q/Q Growth		 0.00% 0.00% -9.61% 11.82%
EBIT Q/Q Growth		 0.00% 0.00% -9.02% 8.81%
NOPAT Q/Q Growth		 0.00% 0.00% -5.56% 7.79%
Net Income Q/Q Growth		 0.00% 0.00% -12.88% 32.40%
EPS Q/Q Growth		 0.00% 0.00% -9.72% 27.78%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -173.50% -70.80%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 2,726.63%
Invested Capital Q/Q Growth		 0.00% 0.00% 70.07% 21.39%
Profitability Metrics		 - - - -
Gross Margin		 16.73% 20.59% 10.07% 4.65%
EBITDA Margin		 -13.66% 6.63% -136.72% -4.62%
Operating Margin		 -17.82% 0.89% -144.01% -6.92%
EBIT Margin		 -16.79% 3.42% -144.30% -6.50%
Profit (Net Income) Margin		 -15.37% 0.80% -152.10% -6.95%
Tax Burden Percent		 100.61% 117.32% 105.00% 84.79%
Interest Burden Percent		 91.01% 20.01% 100.38% 126.22%
Effective Tax Rate		 0.00% -17.32% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -42.31% 5.40% -672.92% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 -45.19% 5.02% -735.22% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 63.88% -7.22% 898.73% 0.00%
Return on Equity (ROE)		 21.56% -1.82% 225.81% 46.36%
Cash Return on Invested Capital (CROIC)		 0.00% 56.38% 0.00% 0.00%
Operating Return on Assets (OROA)		 -8.87% 2.78% -76.01% -9.10%
Return on Assets (ROA)		 -8.12% 0.65% -80.11% -9.74%
Return on Common Equity (ROCE)		 21.56% -1.82% 225.81% 46.36%
Return on Equity Simple (ROE_SIMPLE)		 21.56% -2.74% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -5.58 0.57 -23 -4.41
NOPAT Margin		 -12.48% 1.05% -100.81% -4.84%
Net Nonoperating Expense Percent (NNEP)		 2.87% 0.39% 62.29% 19.04%
Return On Investment Capital (ROIC_SIMPLE)		 - 2.78% -140.61% -33.19%
Cost of Revenue to Revenue		 83.27% 79.41% 89.93% 95.35%
SG&A Expenses to Revenue		 32.13% 17.56% 119.37% 11.17%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 32.13% 19.70% 154.08% 11.57%
Earnings before Interest and Taxes (EBIT)		 -7.51 1.85 -33 -5.91
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -6.11 3.59 -31 -4.21
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.40 0.33 3.19 0.49
Price to Earnings (P/E)		 0.00 41.40 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 2.42% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 4.43 5.37 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 1.31 0.78 3.82 0.56
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 11.71 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 22.72 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 74.11 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 10.28 0.00 102.11
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 7.10 0.00 59.44
Leverage & Solvency		 - - - -
Debt to Equity		 -1.85 -2.29 -2.09 -2.09
Long-Term Debt to Equity		 -1.20 -0.90 -0.90 -0.44
Financial Leverage		 -1.41 -1.44 -1.22 -0.74
Leverage Ratio		 -2.66 -2.79 -2.82 -4.76
Compound Leverage Factor		 -2.42 -0.56 -2.83 -6.01
Debt to Total Capital		 217.12% 177.80% 191.50% 191.95%
Short-Term Debt to Total Capital		 76.55% 107.92% 109.40% 151.73%
Long-Term Debt to Total Capital		 140.57% 69.88% 82.10% 40.21%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -117.12% -77.80% -91.50% -91.95%
Debt to EBITDA		 -9.67 10.11 -1.00 -6.06
Net Debt to EBITDA		 -6.61 6.70 -0.46 -1.49
Long-Term Debt to EBITDA		 -6.26 3.97 -0.43 -1.27
Debt to NOPAT		 -10.59 63.96 -1.36 -5.78
Net Debt to NOPAT		 -7.24 42.40 -0.62 -1.43
Long-Term Debt to NOPAT		 -6.86 25.14 -0.58 -1.21
Altman Z-Score		 -2.27 -1.15 -5.60 -0.91
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - -
Current Ratio		 0.57 0.46 0.60 0.79
Quick Ratio		 0.32 0.29 0.41 0.25
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 5.92 -14 0.86
Operating Cash Flow to CapEx		 0.00% 62,460.60% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 3.82 -11.40 0.37
Operating Cash Flow to Interest Expense		 0.00 2.64 -7.23 0.21
Operating Cash Flow Less CapEx to Interest Expense		 0.00 2.64 -7.21 0.21
Efficiency Ratios		 - - - -
Asset Turnover		 0.53 0.81 0.53 1.40
Accounts Receivable Turnover		 4.52 6.07 3.31 8.83
Inventory Turnover		 9.55 16.41 15.64 51.58
Fixed Asset Turnover		 100.68 147.20 93.38 535.54
Accounts Payable Turnover		 1.68 2.05 1.18 1.95
Days Sales Outstanding (DSO)		 80.79 60.15 110.39 41.31
Days Inventory Outstanding (DIO)		 38.22 22.25 23.34 7.08
Days Payable Outstanding (DPO)		 216.82 178.23 309.04 187.20
Cash Conversion Cycle (CCC)		 -97.81 -95.83 -175.31 -138.81
Capital & Investment Metrics		 - - - -
Invested Capital		 13 7.83 -0.94 -6.20
Invested Capital Turnover		 3.39 5.15 6.68 -25.46
Increase / (Decrease) in Invested Capital		 0.00 -5.36 -8.77 -5.26
Enterprise Value (EV)		 58 42 88 51
Market Capitalization		 18 18 73 45
Book Value per Share		 ($0.80) ($0.40) ($0.33) ($0.22)
Tangible Book Value per Share		 ($1.00) ($0.59) ($0.33) ($0.22)
Total Capital		 27 20 16 13
Total Debt		 59 36 32 25
Total Long-Term Debt		 38 14 14 5.34
Net Debt		 40 24 14 6.29
Capital Expenditures (CapEx)		 -0.01 0.01 -0.02 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -6.19 -3.98 -2.89 -8.70
Debt-free Net Working Capital (DFNWC)		 -2.19 -1.44 4.24 -0.21
Net Working Capital (NWC)		 -23 -23 -14 -20
Net Nonoperating Expense (NNE)		 1.29 0.13 12 1.92
Net Nonoperating Obligations (NNO)		 45 24 14 6.01
Total Depreciation and Amortization (D&A)		 1.40 1.74 1.74 1.71
Debt-free, Cash-free Net Working Capital to Revenue		 -13.85% -7.35% -12.55% -9.56%
Debt-free Net Working Capital to Revenue		 -4.91% -2.66% 18.44% -0.23%
Net Working Capital to Revenue		 -51.49% -43.37% -59.99% -22.38%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.01 ($0.79) ($0.13)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 39.74M 44.34M 49.98M
Adjusted Diluted Earnings per Share		 $0.00 $0.01 ($0.79) ($0.13)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 40.03M 44.34M 49.98M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 45.83M 56.91M
Normalized Net Operating Profit after Tax (NOPAT)		 -5.58 0.34 -18 -4.41
Normalized NOPAT Margin		 -12.48% 0.63% -78.08% -4.84%
Pre Tax Income Margin		 -15.28% 0.68% -144.86% -8.20%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.00 1.19 -26.26 -2.52
NOPAT to Interest Expense		 0.00 0.37 -18.35 -1.88
EBIT Less CapEx to Interest Expense		 0.00 1.19 -26.25 -2.52
NOPAT Less CapEx to Interest Expense		 0.00 0.36 -18.33 -1.88
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Solarmax Technology

This table displays calculated financial ratios and metrics derived from Solarmax Technology's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 0.00 0.00 0.00 44,982,797.00 45,019,360.00 45,284,010.00 45,832,658.00 47,407,607.00 54,302,950.00 54,302,950.00 56,906,572.00
DEI Adjusted Shares Outstanding		 0.00 0.00 0.00 44,982,797.00 45,019,360.00 45,284,010.00 45,832,658.00 47,407,607.00 54,302,950.00 54,302,950.00 56,906,572.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 0.00 -0.05 -0.21 -0.09 -0.03 -0.04 -0.04 -0.02 -0.01
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% -55.21% -69.81% -55.64% -47.43% 20.18% 54.52% 383.33% 623.48% 114.08%
EBITDA Growth		 0.00% 0.00% -1,480.53% -255.11% -531.62% -401.02% 96.40% 38.00% 83.86% 54.23% 170.56%
EBIT Growth		 0.00% 0.00% -2,181.15% -139.07% -673.93% -1,113.99% 94.24% 31.13% 80.02% 45.18% 115.83%
NOPAT Growth		 0.00% 0.00% -1,927.56% -163.50% -789.25% -3,279.63% 93.88% 26.29% 78.98% 29.63% 108.33%
Net Income Growth		 0.00% 0.00% -2,694.43% -16.46% -756.68% -4,697.71% 93.27% 12.27% 76.53% 77.66% 76.34%
EPS Growth		 0.00% 0.00% -2,400.00% 0.00% -625.00% 0.00% 93.48% 20.00% 80.95% 71.43% 66.67%
Operating Cash Flow Growth		 0.00% 0.00% -370.74% 56.72% -79.53% -129.27% 90.61% 113.61% 1,568.50% -92.06% -596.54%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 126.81% 209.59% 184.45% -41.72% -82.73%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -112.03% -139.17% -209.75% -150.93% -559.08% -47.71%
Revenue Q/Q Growth		 -3.25% -14.22% -52.92% -22.72% 42.15% 1.66% 7.62% -0.64% 344.61% 52.18% -68.15%
EBITDA Q/Q Growth		 503.00% -66.85% -2,806.57% 90.18% -389.83% 76.88% 67.64% -65.65% -27.54% 34.45% 149.89%
EBIT Q/Q Growth		 273.17% -84.94% -7,825.74% 88.14% -315.72% 73.39% 56.10% -40.01% -20.61% 27.00% 112.67%
NOPAT Q/Q Growth		 259.75% -103.65% -35,430.18% 87.29% -317.88% 82.09% 35.66% -53.07% -19.20% 40.05% 107.61%
Net Income Q/Q Growth		 178.86% -94.21% -22,798.59% 88.77% -344.63% 59.43% 66.79% -46.48% -18.92% 61.37% 64.84%
EPS Q/Q Growth		 180.00% 0.00% 0.00% 89.13% -320.00% 66.67% 57.14% -33.33% 0.00% 50.00% 50.00%
Operating Cash Flow Q/Q Growth		 126.54% 350.47% -242.85% 74.66% 112.55% -744.11% 54.16% 136.71% 1,439.35% -174.14% -66.23%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 72.18% 18.51% 293.94% -39.03% 13.72% -37.20% 33.83% -81.93%
Invested Capital Q/Q Growth		 0.00% 0.00% -50.53% -20.63% -202.33% 70.07% -61.13% -122.41% -133.95% 21.39% 63.89%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 28.36% 24.08% -8.06% 13.20% 19.86% 14.50% 20.48% 8.78% 3.12% 2.68% 20.54%
EBITDA Margin		 14.52% 5.61% -322.54% -40.99% -141.25% -32.12% -9.66% -16.45% -4.72% -2.03% 3.18%
Operating Margin		 6.45% -0.43% -327.56% -53.87% -158.37% -27.90% -16.68% -25.70% -6.89% -2.71% 0.65%
EBIT Margin		 11.46% 2.01% -330.14% -50.69% -148.24% -38.80% -15.83% -22.59% -6.13% -2.94% 1.17%
Profit (Net Income) Margin		 10.27% 0.69% -334.34% -48.59% -151.98% -60.64% -18.71% -27.59% -7.38% -1.87% -2.07%
Tax Burden Percent		 110.64% -66.25% 100.02% 94.96% 100.59% 178.53% 95.32% 94.70% 81.41% 66.01% 97.98%
Interest Burden Percent		 80.99% -52.03% 101.25% 100.94% 101.91% 87.55% 124.03% 128.93% 147.88% 96.52% -180.37%
Effective Tax Rate		 -10.64% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -2.10% -5,569.39% -901.33% 0.00% -130.37% -239.37% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -1.59% -5,841.04% -917.79% 0.00% -144.35% -244.55% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 2.37% 44,494.49% 1,920.33% 0.00% 176.46% 279.56% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 0.27% 38,925.10% 1,018.99% 283.19% 46.09% 40.19% 186.62% 82.38% 46.36% 39.12%
Cash Return on Invested Capital (CROIC)		 0.00% 75.66% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 1.63% -283.92% -36.45% -99.16% -20.44% -8.20% -13.44% -6.13% -4.12% 1.60%
Return on Assets (ROA)		 0.00% 0.56% -287.53% -34.93% -101.66% -31.94% -9.69% -16.41% -7.38% -2.62% -2.82%
Return on Common Equity (ROCE)		 0.00% 0.27% 38,925.10% 1,018.99% 283.19% 46.09% 40.19% 186.62% 82.38% 46.36% 39.12%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 3,345.62% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1.02 -0.04 -13 -1.68 -7.02 -1.26 -0.81 -1.24 -1.48 -0.88 0.07
NOPAT Margin		 7.13% -0.30% -229.29% -37.71% -110.86% -19.53% -11.68% -17.99% -4.82% -1.90% 0.45%
Net Nonoperating Expense Percent (NNEP)		 0.00% -0.51% 271.65% 16.46% 66.83% 13.98% 5.18% 7.50% 13.40% -0.12% 3.18%
Return On Investment Capital (ROIC_SIMPLE)		 - -0.18% -51.39% -7.58% -44.46% -7.63% -5.16% -8.06% -10.25% -6.66% 0.52%
Cost of Revenue to Revenue		 71.64% 75.93% 108.06% 86.80% 80.14% 85.50% 79.52% 91.22% 96.88% 97.32% 79.46%
SG&A Expenses to Revenue		 19.81% 22.92% 316.64% 65.12% 58.13% 40.49% 36.02% 33.45% 9.54% 5.25% 19.61%
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		 21.91% 24.54% 318.16% 67.07% 178.23% 43.60% 37.16% 34.48% 10.01% 5.40% 19.89%
Earnings before Interest and Taxes (EBIT)		 1.64 0.25 -19 -2.26 -9.39 -2.50 -1.10 -1.56 -1.88 -1.37 0.17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2.07 0.69 -19 -1.83 -8.94 -2.07 -0.67 -1.13 -1.44 -0.95 0.47
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.33 0.88 4.03 0.99 3.19 2.28 1.94 1.12 0.49 0.39
Price to Earnings (P/E)		 0.00 41.40 0.00 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% 0.00%
Earnings Yield		 0.00% 2.42% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 5.37 11.87 50.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.78 0.98 4.20 1.26 3.82 2.88 2.40 1.20 0.56 0.48
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 11.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 22.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 74.11 0.00 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 10.28 0.00 0.00 0.00 0.00 0.00 0.00 35.88 102.11 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 59.44 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 -2.29 -44.94 -8.88 -2.44 -2.09 -1.99 -2.02 -2.22 -2.09 -2.14
Long-Term Debt to Equity		 0.00 -0.90 -10.87 -2.50 -0.62 -0.90 -0.67 -0.63 -0.82 -0.44 -0.55
Financial Leverage		 0.00 -1.49 -7.62 -2.09 -0.71 -1.22 -1.14 -0.98 -0.51 -0.74 -0.86
Leverage Ratio		 0.00 -2.79 -93.45 -18.16 -3.94 -2.82 -5.67 -4.99 -4.48 -4.76 -5.31
Compound Leverage Factor		 0.00 1.45 -94.62 -18.33 -4.01 -2.47 -7.03 -6.43 -6.62 -4.59 9.57
Debt to Total Capital		 0.00% 177.80% 102.28% 112.69% 169.29% 191.50% 201.33% 198.36% 181.83% 191.95% 188.00%
Short-Term Debt to Total Capital		 0.00% 107.92% 77.53% 80.92% 126.31% 109.40% 133.91% 136.05% 114.42% 151.73% 139.23%
Long-Term Debt to Total Capital		 0.00% 69.88% 24.74% 31.78% 42.98% 82.10% 67.42% 62.31% 67.42% 40.21% 48.77%
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		 0.00% -77.80% -2.28% -12.69% -69.29% -91.50% -101.33% -98.36% -81.83% -91.95% -88.00%
Debt to EBITDA		 0.00 10.11 -1.61 -1.41 -0.93 -1.00 -2.34 -2.48 -5.49 -6.06 -7.95
Net Debt to EBITDA		 0.00 6.70 -0.29 -0.35 -0.27 -0.46 -1.08 -0.98 -0.87 -1.49 -3.08
Long-Term Debt to EBITDA		 0.00 3.97 -0.39 -0.40 -0.24 -0.43 -0.78 -0.78 -2.03 -1.27 -2.06
Debt to NOPAT		 0.00 63.96 -1.99 -1.75 -1.22 -1.36 -2.93 -2.95 -5.48 -5.78 -6.90
Net Debt to NOPAT		 0.00 42.40 -0.36 -0.43 -0.36 -0.62 -1.36 -1.16 -0.87 -1.43 -2.68
Long-Term Debt to NOPAT		 0.00 25.14 -0.48 -0.49 -0.31 -0.58 -0.98 -0.93 -2.03 -1.21 -1.79
Altman Z-Score		 0.00 -1.26 -2.29 -0.49 -3.35 -2.98 -3.21 -3.34 -1.67 -0.75 -0.52
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		 0.00 0.46 0.75 0.71 0.64 0.60 0.55 0.54 0.73 0.79 0.82
Quick Ratio		 0.00 0.29 0.61 0.54 0.49 0.41 0.36 0.36 0.47 0.25 0.21
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 -17 -4.75 -3.87 7.51 4.58 5.21 3.27 4.38 0.79
Operating Cash Flow to CapEx		 306,027.69% 3,368,693.99% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -51.67 -29.23 -10.03 19.58 12.40 7.70 3.21 15.73 3.07
Operating Cash Flow to Interest Expense		 3.02 11.61 -19.35 -9.97 0.53 -3.42 -1.63 0.33 3.34 -9.05 -16.24
Operating Cash Flow Less CapEx to Interest Expense		 3.02 11.61 -19.31 -9.97 0.54 -3.42 -1.63 0.33 3.34 -9.05 -16.24
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.81 0.86 0.72 0.67 0.53 0.52 0.60 1.00 1.40 1.37
Accounts Receivable Turnover		 0.00 6.07 5.38 4.46 3.42 3.31 3.31 3.94 4.42 8.83 9.35
Inventory Turnover		 0.00 16.41 30.78 19.02 16.14 15.64 11.26 14.23 30.02 51.58 46.34
Fixed Asset Turnover		 0.00 147.20 175.87 150.64 130.80 93.38 107.48 130.02 273.34 535.54 642.56
Accounts Payable Turnover		 0.00 2.05 2.56 1.92 1.51 1.18 1.27 1.37 1.69 1.95 1.95
Days Sales Outstanding (DSO)		 0.00 60.15 67.89 81.93 106.81 110.39 110.20 92.61 82.57 41.31 39.05
Days Inventory Outstanding (DIO)		 0.00 22.25 11.86 19.19 22.61 23.34 32.43 25.66 12.16 7.08 7.88
Days Payable Outstanding (DPO)		 0.00 178.23 142.39 190.31 242.38 309.04 287.43 266.84 216.16 187.20 187.11
Cash Conversion Cycle (CCC)		 0.00 -95.83 -62.65 -89.19 -112.97 -175.31 -144.79 -148.58 -121.44 -138.81 -140.18
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 7.83 3.87 3.07 -3.15 -0.94 -1.52 -3.37 -7.89 -6.20 -2.24
Invested Capital Turnover		 0.00 6.92 24.29 23.90 -18.31 6.68 20.50 -177.31 -9.21 -25.46 -52.64
Increase / (Decrease) in Invested Capital		 0.00 0.00 3.87 3.07 -3.15 -8.77 -5.39 -6.45 -4.75 -5.26 -0.72
Enterprise Value (EV)		 0.00 42 46 154 36 88 70 64 61 51 48
Market Capitalization		 18 18 41 148 28 73 55 52 57 45 38
Book Value per Share		 $0.00 ($0.40) ($0.01) ($0.06) ($0.24) ($0.33) ($0.35) ($0.32) ($0.22) ($0.22) ($0.21)
Tangible Book Value per Share		 $0.00 ($0.59) ($0.19) ($0.23) ($0.24) ($0.33) ($0.35) ($0.32) ($0.22) ($0.22) ($0.21)
Total Capital		 0.00 20 26 22 16 16 16 15 14 13 13
Total Debt		 0.00 36 26 25 27 32 32 30 26 25 24
Total Long-Term Debt		 0.00 14 6.36 7.04 6.78 14 11 9.57 9.70 5.34 6.32
Net Debt		 0.00 24 4.81 6.20 7.79 14 15 12 4.17 6.29 9.45
Capital Expenditures (CapEx)		 0.00 0.00 -0.01 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -3.98 -1.12 -1.29 -2.20 -2.89 -3.33 -5.48 -10 -8.70 -3.82
Debt-free Net Working Capital (DFNWC)		 0.00 -1.44 11 7.75 6.39 4.24 3.51 2.64 1.03 -0.21 0.49
Net Working Capital (NWC)		 0.00 -23 -9.13 -10 -14 -14 -17 -18 -15 -20 -18
Net Nonoperating Expense (NNE)		 -0.45 -0.12 6.06 0.48 2.60 2.65 0.49 0.66 0.78 -0.01 0.37
Net Nonoperating Obligations (NNO)		 0.00 24 4.46 5.89 7.79 14 14 12 3.89 6.01 9.17
Total Depreciation and Amortization (D&A)		 0.44 0.44 0.44 0.43 0.44 0.43 0.43 0.42 0.43 0.42 0.30
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -7.35% -2.38% -3.52% -7.65% -12.55% -13.80% -20.62% -20.46% -9.56% -3.86%
Debt-free Net Working Capital to Revenue		 0.00% -2.66% 22.99% 21.11% 22.18% 18.44% 14.54% 9.93% 2.02% -0.23% 0.49%
Net Working Capital to Revenue		 0.00% -43.37% -19.40% -27.72% -47.06% -59.99% -72.33% -68.69% -30.37% -22.38% -17.76%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.46) ($0.05) ($0.21) ($0.07) ($0.03) ($0.04) ($0.04) ($0.02) ($0.01)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 39.74M 41.46M 45.02M 45.16M 44.34M 44.42M 45.82M 52.71M 49.98M 56.18M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.46) ($0.05) ($0.21) ($0.07) ($0.03) ($0.04) ($0.04) ($0.02) ($0.01)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 40.03M 41.46M 45.02M 45.16M 44.34M 44.42M 45.82M 52.71M 49.98M 56.18M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($0.05) $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 44.98M 41.48M 45.28M 45.83M 47.41M 54.30M 54.30M 56.91M 56.91M
Normalized Net Operating Profit after Tax (NOPAT)		 0.64 -0.04 -13 -1.68 -1.79 -1.26 -0.81 -1.24 -1.48 -0.88 0.07
Normalized NOPAT Margin		 4.51% -0.30% -230.23% -37.71% -28.34% -19.53% -11.68% -17.99% -4.82% -1.90% 0.45%
Pre Tax Income Margin		 9.28% -1.05% -334.26% -51.17% -151.08% -33.97% -19.63% -29.13% -9.06% -2.84% -2.11%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.97 0.64 -57.54 -13.89 -24.31 -6.51 -2.97 -2.30 -1.84 -4.92 0.67
NOPAT to Interest Expense		 3.09 -0.10 -39.96 -10.33 -18.18 -3.28 -2.19 -1.83 -1.45 -3.18 0.26
EBIT Less CapEx to Interest Expense		 4.97 0.64 -57.50 -13.89 -24.30 -6.51 -2.97 -2.30 -1.84 -4.92 0.67
NOPAT Less CapEx to Interest Expense		 3.09 -0.10 -39.92 -10.33 -18.17 -3.28 -2.19 -1.83 -1.45 -3.18 0.26
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

SolarMax Technology (NASDAQ: SMXT) is showing a sharp deterioration in profitability and a still-fragile balance sheet, even though revenue rebounded strongly in Q1 2026. The company generated $14.8 million in Q1 2026 revenue, up from $6.9 million in Q1 2025, but it still posted a net loss and burned cash from operations. Compared with the same quarter last year, the top line improved, but operating leverage remains weak and liabilities continue to exceed assets.

  • Revenue more than doubled year over year in Q1 2026, rising to $14.8 million from $6.9 million in Q1 2025.
  • Gross profit improved materially to $3.0 million in Q1 2026, versus $1.4 million a year earlier, suggesting better operating scale.
  • Operating cash flow improved versus the prior year quarter, with Q1 2026 operating cash outflow of $4.2 million compared with $6.4 million in Q1 2025.
  • Cash and equivalents increased year over year to $4.3 million from $596 thousand in Q1 2025.
  • The company is still reliant on non-core items, including investment sales and financing activity, to support liquidity.
  • Share count has risen over the last year, indicating dilution from equity issuance.
  • Balance sheet composition is asset-heavy in receivables and other current assets, which may not be as liquid as cash.
  • SMXT remained unprofitable in Q1 2026, with a net loss of $306 thousand.
  • Operating expenses remain high relative to gross profit, leaving only $96 thousand of operating income in Q1 2026.
  • Total liabilities exceeded total assets at March 31, 2026: $117.6 million in liabilities versus $106.2 million in assets, resulting in negative shareholders’ equity of $11.4 million.
  • Working capital is deeply negative, with current liabilities of $98.0 million far above current assets of $80.5 million.
  • Debt remains significant, including $18.1 million of short-term debt and $6.3 million of long-term debt in Q1 2026.
  • Accounts payable is very large at $78.9 million, which can indicate supplier financing pressure or stretched obligations.
  • Cash fell by $3.7 million in Q1 2026, reflecting continued cash burn despite the stronger revenue quarter.

Longer-term trend: SMXT’s recent quarter looks better on revenue, but the multi-year picture is still challenged. The company has moved from large losses in 2024 to smaller losses in some 2025 and 2026 quarters, but it has not established consistent profitability or positive free cash generation. The balance sheet also weakened over time, with equity moving further negative and leverage remaining elevated.

Bottom line: For retail investors, SMXT looks like a speculative turnaround story rather than a fundamentally stable business. The sales rebound is encouraging, but until the company shows sustained operating profit, positive operating cash flow, and balance sheet repair, risk remains high.

07/21/26 09:52 AM ETAI Generated. May Contain Errors.

Solarmax Technology Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Solarmax Technology's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Solarmax Technology's net income appears to be on an upward trend, with a most recent value of -$6.33 million in 2025, falling from -$6.87 million in 2022. The previous period was -$34.96 million in 2024. See where experts think Solarmax Technology is headed by visiting Solarmax Technology's forecast page.

Solarmax Technology's total operating income in 2025 was -$6.30 million, based on the following breakdown:
  • Total Gross Profit: $4.23 million
  • Total Operating Expenses: $10.53 million

Over the last 3 years, Solarmax Technology's total revenue changed from $44.72 million in 2022 to $90.98 million in 2025, a change of 103.5%.

Solarmax Technology's total liabilities were at $103.50 million at the end of 2025, a 92.7% increase from 2024, and a 11.2% decrease since 2022.

In the past 3 years, Solarmax Technology's cash and equivalents has ranged from $786.33 thousand in 2024 to $7.97 million in 2025, and is currently $7.97 million as of their latest financial filing in 2025.

Over the last 3 years, Solarmax Technology's book value per share changed from -0.80 in 2022 to -0.22 in 2025, a change of -72.0%.


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