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Financial statements

SUNation Energy, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data SUNation Energy, Inc. 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

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue99.482.342.450.98.080.0427.579.656.971.9
Cost of revenue72.861.524.728.75.764.5820.151.936.444.4
Gross profit26.620.817.622.22.320.047.3827.720.427.5
Research and development5.373.643.543.62.81
Selling, general and administrative35.228.722.422.27.051.0612.229.127.127
Operating expenses3132.622.422.27.944.917.835.232.729.2
Operating income-4.46-11.8-4.750.01-5.62-4.86-10.4-7.47-12.3-1.67
Interest expense0.120.070.040.040.031.370.982.663.091.04
Interest income0.21
Other non-operating income-3.4-0.10.220.230.93-1.377.180.65-3.5-9.17
Pre-tax income-7.86-11.9-4.530.24-4.69-6.24-3.27-6.82-15.8-10.8
Income tax0.26-0.030.4-0.020.010.020.010.120.030.05
Net income-8.11-11.8-6.796.47-0.17-6.24-10.4-8.13-15.8-10.9
EBITDA-0.77-8.58-3.491.04-4.82-3.43-7.22-2.33-9.160.83
EPS, basic-138,850.00-199,220.00-113,193.00105,647.00-3,018.00-306,376.00-609,733.00-122,249.00-10,111.00-4.38
EPS, diluted-138,850.00-199,220.00-113,193.00104,138.00-3,018.00-306,376.00-609,734.00-122,249.00-10,111.00-4.38
Shares, basic (weighted)0000000002.49
Shares, diluted (weighted)0000000002.49
Dividend per share6,037.00528,234.00

Balance sheet

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and equivalents10.412.511.113.912.80.022.193.580.847.18
Short-term investments5.815.549.452.760.142.67
Receivables14.612.29.5910.24.41.85.565.014.884.24
Inventory22.214128.530.1406.053.582.712.53
Other current assets0.970.811.461.160.560.90.630.380.20.55
Total current assets55.445.542.349.435.80.022615.811.116.5
Property, plant and equipment15.712.68.858.240.30.141.191.511.241.02
Lease right-of-use assets0.370.280.164.174.523.693.32
Goodwill1.462.092.0920.520.517.417.4
Intangible assets0.190.020.012.782.7820.515.812.29.98
Long-term investments0.256.213.02
Other non-current assets2.080.062.141.5119.52.7847.540.933.430.8
Total assets73.258.153.359.255.62.874.758.245.748.2
Accounts payable6.954.554.093.720.712.237.597.688.037.4
Accrued liabilities2.152.422.893.521.530.310.861.360.81.65
Deferred revenue0.460.642.710.440.441.66
Total current liabilities11.48.9611.611.47.442.8925.922.427.215.4
Long-term debt4.642.13.46
Lease liabilities0.240.170.053.964.193.473.16
Total liabilities11.58.9811.711.858.111.447.537.737.223.9
Total debt6.64
Paid-in capital41.34242.74343.6-0.0545.847.551.478
Retained earnings20.67.33-0.734.654.14-8.74-19.1-27.1-42.9-53.8
Other comprehensive income-0.69-0.61-0.75-0.7-0.680-0.01
Shareholders' equity61.649.241.747.4-2.5-8.6427.220.48.5524.3
Total equity61.649.241.747.4-2.5-8.6427.220.48.5524.3
Total liabilities and equity73.258.153.359.255.62.874.758.245.748.2
Shares outstanding000000000.013.41

Cash flow statement

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income-8.11-11.8-6.796.47-0.17-6.24-10.4-8.13-15.8-10.9
Depreciation and amortization3.683.191.261.030.811.433.235.143.152.5
Stock-based compensation0.630.420.190.410.460.10.311.210.030.09
Deferred income tax-0.01-0.090.020.010.0100.04-0.04
Change in receivables3.252.39-2.27-0.62-3.882.56-0.90.620.010.58
Change in inventory2.688.27-6.162.470.01-0.060.392.480.750.04
Change in payables-1.18-2.51.06-0.380.282.21-0.710.080.360.5
Cash from operations1.223.65-4.7210.2-4.68-0.81-7.58-0.67-6.30.95
Capital expenditures-2.29-0.77-0.69-0.43-0.17-0.04-0.12-0.66-0.03-0.05
Acquisitions-4.8-11
Purchases of investments-6.04-6.58-18.7-18.7
Sales and maturities of investments5.756.312.18.9718.56.090.232.87
Cash from investing4.44-0.294.81-5.223.930.48-3.13.57-0.03-0.05
Stock issued00000
Share buybacks-1.42-0.35-4.81-0.04-0.01
Dividends paid-4.63-1.46-1.49-0.74-0.56-34
Cash from financing-4.9-1.36-1.42-1.45-0.80.3515.9-2.762.085.12
Exchange rate effect-0.120.02-0.07-0.010.040.05
Net change in cash0.632.01-1.43.55-1.520.025.240.14-4.246.03
Free cash flow-1.072.88-5.429.81-4.85-0.85-7.69-1.32-6.340.91
Interest paid0.040.040.040.040.030.011.071.121.61.39
Income taxes paid-1.23-0.69-0.03-0.07-0.03-0.010.010.060.080.07

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $2.40 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin35.7%Gross profit / revenue.
Operating margin-7.9%Operating income / revenue.
EBITDA margin-3.8%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin-8.4%Pre-tax income / revenue.
Net margin-8.5%Net income / revenue.
Operating cash flow margin-2.9%Cash from operations / revenue.
Return on equity (ROE)-25.4%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)-12.8%Net income / average total assets.
Return on invested capital (ROIC)-17.9%Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue39.1%Selling, general and administrative expense / revenue.
Stock-based pay / revenue0.1%Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue4.1%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y26.5%Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y37.7%Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y54.8%Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y34.8%Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y55.1%Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y64.1%Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y184.8%Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y-3.7%Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y5.5%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y-13.6%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-2.8%Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y91,618.0%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y3,710.0%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, 5y733.2%Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio0.77xCurrent assets / current liabilities.
Quick ratio0.45x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.22x(Cash + short-term investments) / current liabilities.
Debt / equity0.19xTotal debt / shareholders' equity. Not shown when equity is negative.
Debt / assets9.7%Total debt / total assets.
Liabilities / assets49.8%Total liabilities / total assets.
Net debt$906.8KTotal debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage-8.09xOperating income / interest expense.
Working capital-$3.2MCurrent assets - current liabilities.
Goodwill and intangibles / assets64.3%(Goodwill + intangible assets) / total assets.
Tangible book value-$5.8MShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover1.50xRevenue / average total assets.
Fixed asset turnover69.0xRevenue / average property, plant and equipment.
Inventory turnover15.0xCost of revenue / average inventory.
Days inventory24 days365 x average inventory / cost of revenue.
Receivables turnover19.3xRevenue / average receivables.
Days sales outstanding19 days365 x average receivables / revenue.
Days payables42 days365 x average accounts payable / cost of revenue.
Cash conversion cycle1 daysDays inventory + days sales outstanding - days payables.

Per share

MetricValueHow it is calculated
EPS, diluted-$0.82Net 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.
Revenue per share$9.62Revenue / diluted weighted shares.
Operating cash flow per share-$0.28Cash from operations / diluted weighted shares.
Book value per share$3.15Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share-$0.89Tangible book value / shares outstanding.
Cash per share$0.47(Cash + short-term investments) / shares outstanding.

Valuation

MetricValueHow it is calculated
Market cap$15.6MShare price x shares outstanding.
Enterprise value$16.5MMarket cap + total debt - cash - short-term investments.
P/S0.25xMarket cap / revenue.
P/B0.76xMarket cap / shareholders' equity. Only when equity is positive.
EV/Sales0.27xEnterprise value / revenue.
Earnings yield-33.4%Net income / market cap (the inverse of P/E).
What was SUNation Energy, Inc.'s revenue in fiscal 2025?

SUNation Energy, Inc. reported revenue of $71.9M for fiscal 2025, 26.5% higher than the year before.

Was SUNation Energy, Inc. profitable in fiscal 2025?

No. It reported a net loss of $10.9M.

How much free cash flow did SUNation Energy, Inc. generate in fiscal 2025?

Cash from operations of $955.0K minus capital expenditures of $48.6K left free cash flow of $906.4K.

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.

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