Maxeon Solar Technologies, Ltd. financial statements
Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Maxeon Solar Technologies, Ltd. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
Revenue
912
1,198
845
783
1,060
1,123
509
Cost of revenue
1,007
1,201
855
812
1,108
1,045
758
Gross profit
-450
-2.31
-9.78
-29
-47.9
78.1
-249
Research and development
50
37
34.2
46.5
49.7
45.7
37.6
Selling, general and administrative
82
96.9
86.2
88.8
101
126
174
Operating expenses
140
133
120
143
152
297
327
Operating income
-590
-136
-130
-172
-200
-219
-577
Interest expense
25.9
25.8
31.9
28.1
30.3
42.4
45.4
Other non-operating income
-12.4
-27.8
4.49
-66.6
-25.6
-54.3
-20
Pre-tax income
-602
-163
-126
-239
-226
-274
-597
Income tax
-1.05
10.1
12.1
0.2
32.2
-0.63
18
Net income to minority interests
-0.27
4.16
1.62
-1.23
0.28
0.12
-0.27
Net income
-604
-183
-143
-255
-267
-276
-614
EBITDA
-507
-82.2
-82.8
-130
-144
-163
-533
EPS, basic
-2,838.00
-860.80
-581.87
-678.85
-653.85
-594.46
-96.00
EPS, diluted
-2,838.00
-860.80
-581.87
-678.84
-653.85
-594.46
-96.00
Shares, basic (weighted)
0.21
0.21
0.25
0.37
0.41
0.46
6.4
Shares, diluted (weighted)
0.21
0.21
0.25
0.37
0.41
0.46
6.4
Balance sheet
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
Cash and equivalents
102
121
207
167
227
190
28.9
Receivables
150
76.7
39.7
54.3
62.7
4.3
Inventory
195
169
213
303
309
40.2
Other current assets
38.4
49.5
61.9
129
55.3
20.4
Total current assets
618
547
533
791
619
266
Property, plant and equipment
281
247
387
380
280
72.9
Lease right-of-use assets
18.8
13.5
15.4
17.8
22.8
28
Goodwill
0
7.88
0
Intangible assets
0.46
0.42
0.29
3.35
0.52
Other non-current assets
53.1
113
115
60.4
68.9
8.92
Total assets
990
980
1,057
1,260
1,002
376
Accounts payable
286
159
270
248
153
62.5
Accrued liabilities
92.6
77.3
78.7
135
113
86.7
Deferred revenue
78.9
20.8
44.1
139
134
74.3
Short-term debt
60.4
48.4
25.4
50.5
25.4
0.46
Total current liabilities
521
308
421
576
432
339
Lease liabilities
18.3
12.1
13.5
15.6
19.6
27.4
Other non-current liabilities
46.5
51.8
61
63.7
38.5
15.6
Total liabilities
623
541
702
1,212
997
665
Paid-in capital
0
451
624
585
811
1,137
Retained earnings
0
-8.44
-263
-520
-796
-1,410
Other comprehensive income
-7.62
-10.4
-11.8
-22.1
-16.4
-20.5
Shareholders' equity
362
433
349
42.4
-1.11
-294
Minority interests
5.3
6.65
5.42
5.63
5.75
5.48
Total equity
435
368
439
355
48.1
4.64
-288
Total liabilities and equity
990
980
1,057
1,260
1,002
376
Shares outstanding
0.34
0.44
45
0.54
0.54
Cash flow statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
Net income
-604
-179
-141
-256
-267
-276
-615
Depreciation and amortization
82.9
53.4
47.3
42.2
56.7
55.9
43.5
Stock-based compensation
8.58
7.14
7.25
7.23
14.6
18.3
28.7
Deferred income tax
-6.48
0.82
-0.52
5.59
8.6
2.44
-0.36
Change in receivables
-32.5
-77.8
71.2
38.3
-15.3
-8.33
42.6
Change in inventory
18.1
28.4
28.7
-43.2
-107
-43.5
50.1
Change in payables
-75.5
53.5
-143
41.1
70.6
-97.7
7.6
Cash from operations
-157
-26.3
-189
-4.87
3.44
-254
-270
Capital expenditures
-39.6
-41.9
-27.7
-154
-63.3
-67.5
-52.1
Purchases of investments
0
0
0
0
-76
-60
0
Cash from investing
-53
-41.9
-45.5
-154
-139
13.9
-25.2
Stock issued
0
0
297
170
0
193
96.4
Cash from financing
166
89.9
320
142
211
168
141
Exchange rate effect
0.06
0.38
0.08
0.17
0.12
-0.03
-0.09
Net change in cash
-43.9
22.1
85.8
-17.3
75.7
-72.5
-154
Free cash flow
-196
-68.2
-217
-159
-59.9
-322
-322
Interest paid
1.27
1.93
3.44
15.2
12.9
30.9
17.7
Income taxes paid
7.59
8.11
12.5
9.58
6.45
15.2
12.6
Key metrics
Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $0.00 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
-49.0%
Gross profit / revenue.
Operating margin
-113.3%
Operating income / revenue.
EBITDA margin
-104.7%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-117.2%
Pre-tax income / revenue.
Net margin
-120.7%
Net income / revenue.
FCF margin
-63.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-53.1%
Cash from operations / revenue.
Return on assets (ROA)
-89.1%
Net income / average total assets.
R&D / revenue
7.4%
Research and development expense / revenue.
SG&A / revenue
34.1%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
5.6%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
10.2%
Capital expenditures / revenue.
D&A / revenue
8.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-54.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-13.4%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-15.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-419.3%
Gross profit vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-62.4%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-29.1%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-17.6%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
1,279.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
157.5%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
97.5%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.79x
Current assets / current liabilities.
Quick ratio
0.10x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.09x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$96.00
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$96.00
Net income per basic share, as reported (split-adjusted).
Revenue per share
$79.55
Revenue / diluted weighted shares.
FCF per share
-$50.37
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$42.22
Cash from operations / diluted weighted shares.
Book value per share
-$544.56
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.00x
Market cap / revenue.
FCF yield
-9,644,075.0%
Free cash flow / market cap.
Earnings yield
-18,381,209.0%
Net income / market cap (the inverse of P/E).
What was Maxeon Solar Technologies, Ltd.'s revenue in fiscal 2024?
Maxeon Solar Technologies, Ltd. reported revenue of $509.0M for fiscal 2024, 54.7% lower than the year before.
Was Maxeon Solar Technologies, Ltd. profitable in fiscal 2024?
No. It reported a net loss of $614.3M.
How much free cash flow did Maxeon Solar Technologies, Ltd. generate in fiscal 2024?
Cash from operations of $270.2M minus capital expenditures of $52.1M left free cash flow of -$322.3M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.