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Maxeon Solar Technologies (MAXN)
NASDAQ:MAXN
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Maxeon Solar Technologies
(NASDAQ:MAXN)
Rating:50Neutral
Price Target:
$4.00
▼(-14.89%Downside)
Maxeon Solar Technologies (MAXN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$78.57M
Dividend YieldN/A
Average Volume (3M)204.17K
Price to Earnings (P/E)―
Beta (1Y)1.80
Revenue Growth-54.68%
EPS Growth63.56%
CountryUS
Employees1,591
SectorTechnology
Sector Strength90
IndustrySolar
Share Statistics
EPS (TTM)N/A
Shares Outstanding16,896,729
10 Day Avg. Volume245,280
30 Day Avg. Volume204,168
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)-0.09
Price to Sales (P/S)0.00
P/FCF Ratio-0.17
Enterprise Value/Market Cap4.30
Enterprise Value/Revenue0.11
Enterprise Value/Gross Profit-1.35
Enterprise Value/Ebitda-0.21
Forecast
1Y Price Target
$3.00Price Target Upside-36.17% Downside
Rating ConsensusHold
Number of Analyst Covering0
Maxeon Solar Technologies Business Overview & Revenue Model
Company DescriptionMaxeon 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 MoneyMaxeon Solar Technologies generates revenue primarily through the sale of its solar panels and systems. The company's key revenue streams include the manufacture and distribution of high-efficiency solar panels to residential, commercial, and utility-scale customers. Maxeon also engages in strategic partnerships and supply agreements with key players in the solar industry to expand its market reach and optimize its manufacturing processes. Additionally, the company invests in research and development to enhance its product offerings and maintain a competitive edge in the rapidly evolving solar technology market.
Maxeon Solar Technologies Earnings Call Summary
Earnings Call Date:May 22, 2025
(Q1-2024)
| % Change Since: 42.86%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Negative
The earnings call highlighted significant liquidity support and strategic restructuring measures, alongside expansion efforts in the U.S. market and defensive actions on intellectual property. However, these positives are overshadowed by substantial cash flow challenges, customer delays, inventory issues, and significant shareholder dilution.Q1-2024 Updates
Positive Updates
Liquidity Support and Restructuring
Maxeon negotiated commitments for significant liquidity support from its largest shareholder, TZE, and restructured its 2025 convertible bonds, with the majority expected to be converted into equity, stabilizing the balance sheet.
U.S. Dealer Channel Expansion
Maxeon signed up more than 100 U.S. dealers since the last earnings call, aiming to grow its market share in the U.S. residential market, with a focus on premium products.
Patent Infringement Actions
The company initiated patent infringement cases against several competitors, intending to monetize its intellectual property in shingling, TOPCon, and IBC technologies.
Negative Updates
Significant Cash Flow Challenges
Maxeon faced cash flow challenges due to Chinese module oversupply, high interest rates, policy changes, and the termination of the SunPower supply agreement.
Utility Scale Customer Delays
Two large utility scale customers experienced project delays, impacting Maxeon's production, increasing product costs, and affecting financial results for 2024.
Inventory and Demand Issues
Maxeon struggled with high inventory levels and slower-than-anticipated inventory turnover, particularly in the European market facing oversupply and price erosion.
Substantial Shareholder Dilution
The liquidity transactions with TZE are expected to result in substantial dilution for existing shareholders.
Company Guidance
During the Maxeon Solar Technologies Q1 2024 Earnings Call, the company provided guidance indicating significant financial challenges due to market dislocation, including Chinese module oversupply, high interest rates, and policy changes. As a result, Maxeon faced cash flow issues, exacerbated by the termination of a supply agreement and project delays from two major utility scale customers. To address these challenges, Maxeon secured a $97.5 million debt investment and a $100 million equity commitment from its largest shareholder, TZE, subject to regulatory approval. This financing is expected to stabilize their balance sheet, despite resulting in substantial dilution for existing shareholders. The company anticipates Q2 2024 shipments of 520 to 600 megawatts and annual revenues between $640 million and $800 million, with a focus on rebuilding its U.S. distributed generation channel and transitioning to newer technologies to return to profitability by early 2025.Maxeon Solar Technologies Financial Statement Overview
Summary
Maxeon Solar Technologies is facing substantial financial challenges. With a significant decline in revenue, negative gross profit margin, and overall negative profitability metrics, the company struggles with cost inefficiencies and pricing pressures. The balance sheet is weak with negative stockholders' equity and high liabilities, indicating financial instability. Cash flow is also negative, highlighting liquidity challenges and reliance on external funding.Income Statement
Maxeon Solar Technologies has experienced a significant decline in total revenue over the recent years, with the 2024 revenue nearly halving from 2023. Gross profit margin is negative, indicating cost inefficiencies or pricing pressures. The company has a negative net profit margin, highlighting profitability challenges. EBIT and EBITDA margins are also negative, suggesting operational difficulties. Overall, the income statement reflects a challenging financial environment with declining revenues and negative profitability metrics.35
Negative
Balance Sheet
The company's balance sheet shows negative stockholders' equity, a concerning indicator of financial health. The debt-to-equity ratio is not calculable due to negative equity, but high total liabilities relative to assets suggest leverage issues. The equity ratio is negative, further highlighting the financial instability. The balance sheet reflects a precarious financial position with high leverage and negative equity.20
Very Negative
Cash Flow
Operating cash flow is negative, indicating that the company's core operations are not generating cash. The free cash flow is also negative, showing cash outflows exceeding inflows, with no visible improvement trend. The cash flow metrics highlight liquidity challenges and the need for external financing to sustain operations. While financing cash flow is positive, indicating external funding, reliance on it is not ideal for long-term sustainability.40
Negative
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 509.05M | 1.12B | 1.06B | 783.28M | 844.84M |
| Gross Profit | -249.41M | 78.11M | -47.95M | -29.01M | -9.78M |
| EBITDA | -507.79M | -175.21M | -141.33M | -169.00M | -46.50M |
| Net Income | -614.30M | -275.83M | -258.07M | -239.27M | -137.81M |
Balance Sheet | |||||
| Total Assets | 376.27M | 1.00B | 1.26B | 1.06B | 980.34M |
| Cash, Cash Equivalents and Short-Term Investments | 28.89M | 190.17M | 303.44M | 166.54M | 206.74M |
| Total Debt | 311.49M | 437.66M | 449.80M | 187.27M | 198.98M |
| Total Liabilities | 664.64M | 997.37M | 1.21B | 701.67M | 541.06M |
| Stockholders Equity | -293.84M | -1.11M | 42.44M | 349.46M | 432.64M |
Cash Flow | |||||
| Free Cash Flow | -322.31M | -321.89M | -60.04M | -159.54M | -216.85M |
| Operating Cash Flow | -270.16M | -254.29M | 3.44M | -4.87M | -189.16M |
| Investing Cash Flow | -25.24M | 13.93M | -139.30M | -154.45M | -45.49M |
| Financing Cash Flow | 141.23M | 167.95M | 211.47M | 141.81M | 320.35M |
Maxeon Solar Technologies Technical Analysis
Positive
4.70
Price Trends
3.41
Positive
3.31
Positive
5.15
Negative
Market Momentum
0.32
Negative
70.08
Negative
78.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MAXN, the sentiment is Positive. The current price of 4.7 is above the 20-day moving average (MA) of 3.80, above the 50-day MA of 3.41, and below the 200-day MA of 5.15, indicating a neutral trend. The MACD of 0.32 indicates Negative momentum. The RSI at 70.08 is Negative, neither overbought nor oversold. The STOCH value of 78.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MAXN.
Maxeon Solar Technologies Risk Analysis
Maxeon Solar Technologies disclosed 55 risk factors in its most recent earnings report. Maxeon Solar Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Maxeon Solar Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $19.38B | 15.75 | 16.77% | ― | 19.42% | 23.19% | |
60 Neutral | $1.20B | 118.10 | -9.49% | 0.50% | -30.26% | -156.69% | |
58 Neutral | $1.68B | ― | -121.50% | ― | -57.89% | -559.87% | |
57 Neutral | HK$14.47B | 5.85 | -5.77% | 4.75% | 9.65% | -43.80% | |
55 Neutral | $2.42B | ― | -69.47% | ― | -2.08% | -80.64% | |
53 Neutral | $860.59M | 20.05 | -0.39% | ― | -19.06% | -104.91% | |
50 Neutral | $78.57M | ― | 307.38% | ― | -54.68% | 63.56% |
* Technology Sector Average
Performance Comparison
MAXN
Maxeon Solar Technologies
4.70
-14.80
-75.90%
CSIQ
Canadian Solar
12.75
-4.24
-24.96%
FSLR
First Solar
185.32
-35.08
-15.92%
JKS
JinkoSolar
23.30
4.78
25.81%
SEDG
SolarEdge Technologies
27.23
0.42
1.57%
RUN
Sunrun
10.78
-5.55
-33.99%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.