Maxeon Solar Technologies (MAXN) AI Stock Analysis

• Market Cap: $50.35M
• Dividend Yield: N/A
• Average Volume (3M): 84.60K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.70
• Revenue Growth: -54.68%
• EPS Growth: 63.56%
• Country: US
• Employees: 1,591
• Sector: Technology
• Sector Strength: 88
• Industry: Solar
• EPS (TTM): N/A
• Shares Outstanding: 16,896,729
• 10 Day Avg. Volume: 94,123
• 30 Day Avg. Volume: 84,602
• PEG Ratio: <0.01
• Price to Book (P/B): -0.21
• Price to Sales (P/S): 0.12
• P/FCF Ratio: -0.19
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 39 Underperform
• Price Target: $3.00 ▲(0.67% Upside)

Maxeon Solar Technologies is in a precarious financial position, with significant challenges across all financial statements. The technical analysis indicates bearish momentum, and valuation metrics are unfavorable. These factors collectively suggest a high-risk investment with limited upside potential.

Positive Factors

Strategic Partnerships

The expanded collaboration with TZE HK enhances Maxeon's R&D capabilities and market reach, potentially leading to improved product offerings and competitive positioning.

Leadership Change

The new director brings strategic growth and financial management experience, which could strengthen Maxeon's strategic direction and market positioning.

Governance Improvements

Strengthened governance through key approvals at the AGM may enhance operational capabilities and investor confidence, supporting long-term stability.

Negative Factors

Financial Instability

Persistent financial challenges, including negative margins and declining revenues, indicate ongoing operational inefficiencies and financial distress, threatening long-term viability.

Cash Flow Challenges

Inability to generate sufficient cash from operations limits Maxeon's ability to invest in growth and manage liabilities, posing a risk to sustainability.

Regulatory Challenges

The exclusion from U.S. imports hampers market access and revenue potential, necessitating strategic adaptations to mitigate long-term impacts.

Maxeon Solar Technologies Business Overview & Revenue Model

Company Description

Maxeon Solar Technologies, Ltd. designs, manufactures, markets, and sells solar panels and related solar system components worldwide. The company provides interdigitated back contact and shingled solar cells and panels under the SunPower brand. It offers its products to dealers, project developers, system integrators, distributors, resellers, and residential and small-scale commercial customers. Maxeon Solar Technologies, Ltd. was incorporated in 2019 and is headquartered in Singapore.

How the Company Makes Money

Maxeon Solar Technologies generates revenue primarily through the sale of solar panels and related products, including solar energy solutions and services. The company's revenue model is supported by various streams, including direct sales to customers, distribution agreements, and partnerships with installers and other stakeholders in the solar industry. Additionally, Maxeon benefits from government incentives and subsidies aimed at promoting renewable energy adoption, which can enhance its sales volume. The company also engages in long-term contracts and agreements with large-scale customers, contributing to stable revenue flows. Key partnerships with technology providers and financial institutions further bolster its market presence and operational capabilities, aiding in revenue generation.

Maxeon Solar Technologies Financial Statement Overview

Summary

Maxeon Solar Technologies is facing severe financial challenges. The company has negative gross and net profit margins, declining revenues, and negative equity, indicating a high-risk financial position. Cash flow issues further exacerbate the instability, requiring urgent strategic interventions.

Income Statement

Maxeon Solar Technologies has been experiencing significant challenges in its income statement. The company has consistently reported negative gross profit margins, indicating that production costs exceed revenues. Net profit margins are also deeply negative, reflecting substantial losses. Revenue has been declining, with a notable decrease of 48.28% in the TTM period, highlighting a severe downturn in sales. The EBIT and EBITDA margins are also negative, further emphasizing operational inefficiencies and financial distress.

Balance Sheet

The balance sheet of Maxeon Solar Technologies reveals a precarious financial position. The company has negative stockholders' equity, indicating liabilities exceed assets, which is a significant red flag. The debt-to-equity ratio is negative due to negative equity, suggesting high financial risk. Although the return on equity appears positive, it is misleading due to negative equity. The equity ratio is also negative, underscoring the company's insolvency risk.

Cash Flow

Cash flow analysis shows that Maxeon Solar Technologies is struggling with cash generation. Operating cash flow and free cash flow are both negative, indicating the company is not generating sufficient cash from operations to cover its expenses. The free cash flow to net income ratio is positive, but this is due to negative net income, which is not a positive indicator. The operating cash flow to net income ratio is negative, further highlighting cash flow challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	176.41M	509.05M	1.12B	1.06B	783.28M	844.84M
Gross Profit	-242.06M	-249.41M	78.11M	-47.95M	-29.01M	-9.78M
EBITDA	-504.08M	-507.79M	-175.21M	-141.33M	-169.00M	-46.50M
Net Income	-565.38M	-614.30M	-275.83M	-267.42M	-254.52M	-142.63M
Balance Sheet
Total Assets	186.31M	376.27M	1.00B	1.26B	1.06B	980.34M
Cash, Cash Equivalents and Short-Term Investments	17.23M	28.89M	190.17M	303.44M	166.54M	206.74M
Total Debt	319.48M	311.49M	437.66M	449.80M	187.27M	198.98M
Total Liabilities	507.96M	664.64M	997.37M	1.21B	701.67M	541.06M
Stockholders Equity	-327.46M	-293.84M	-1.11M	42.44M	349.46M	432.64M
Cash Flow
Free Cash Flow	-234.74M	-322.31M	-321.89M	-60.04M	-159.54M	-216.85M
Operating Cash Flow	-218.25M	-270.16M	-254.29M	3.44M	-4.87M	-189.16M
Investing Cash Flow	69.48M	-25.24M	13.93M	-139.30M	-154.45M	-45.49M
Financing Cash Flow	92.61M	141.23M	167.95M	211.47M	141.81M	320.35M

Maxeon Solar Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.98
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MAXN, the sentiment is Negative. The current price of 2.98 is below the 20-day moving average (MA) of 3.26, below the 50-day MA of 3.46, and below the 200-day MA of 3.58, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 40.72 is Neutral, neither overbought nor oversold. The STOCH value of 36.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MAXN.

Maxeon Solar Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ENPH	61 Neutral	$3.63B	19.17	20.31%	―	20.97%	226.98%
JKS	61 Neutral	$1.36B	―	-17.96%	10.74%	-34.29%	-732.90%
CSIQ	54 Neutral	$1.81B	113.30	0.56%	―	-4.46%	1645.26%
ARRY	54 Neutral	$1.14B	―	-7.75%	―	35.75%	37.97%
SEDG	49 Neutral	$2.12B	―	-78.09%	―	-0.14%	66.71%
MAXN	39 Underperform	$50.35M	―	―	―	-54.68%	63.56%

Maxeon Solar Technologies Corporate Events

Maxeon Solar Technologies Appoints New Non-Executive Director

On September 30, 2025, Maxeon Solar Technologies announced the appointment of Mr. Bin Zhou as a non-executive director, following the resignation of Mr. Wang Yanjun. Mr. Zhou, representing the company’s controlling shareholder Zhonghuan Singapore Investment and Development Pte. Ltd., brings over 17 years of experience in strategic growth and financial management, which is expected to enhance Maxeon’s strategic direction and market positioning.

Maxeon Solar Technologies Amends Development Agreement with TZE HK

On September 17, 2025, Maxeon Solar Technologies amended its Bilateral Development Services Agreement with Zhonghuan Hong Kong Limited and Lumetech PTE Ltd. The amendment, effective from July 1, 2025, restructures financial and operational responsibilities, with TZE HK assuming a larger share of research and development costs and gaining expanded intellectual property rights. The agreement also broadens the geographical scope of collaboration to include Singapore and China, focusing on the exclusive development of MAX8 Technology. The amended agreement eliminates the joint management committee, granting TZE HK strategic control over the project, while MSPL will execute the project under TZE HK’s oversight.

Maxeon Solar Technologies Approves Key Proposals at Annual Meeting

On August 29, 2025, Maxeon Solar Technologies held its Annual General Meeting of Shareholders, where five key proposals were approved. These included the adoption of the Directors’ Statement and Audited Financial Statements for 2024, the re-election of Dr. Teo Tong Kooi as a Director, approval of his annual fees, appointment of NLA DFK Assurance PAC and Marcum Asia CPAs LLP as auditors, and authorization for directors to issue shares. These decisions are expected to strengthen the company’s governance and operational capabilities.