Maxeon Solar Technologies (MAXN)
NASDAQ:MAXN
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Maxeon Solar Technologies
(NASDAQ:MAXN)
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Rating:42Neutral
Price Target:
$3.00
▼(-3.23% Downside)
Action:UpgradedDate:02/04/26
The score is driven primarily by very weak financial performance (declining revenue, sustained losses, negative cash flow, and negative equity). Technical signals are mixed and do not offset the fundamental risk, while valuation provides limited support because earnings are negative and no dividend yield is available.
Positive Factors
Proceeds from Malaysian divestiture
A planned sale that can generate up to ~$51M (subject to adjustments) is a structural liquidity event. Proceeds can shore working capital, pay down secured obligations, and reduce operating scale and litigation exposure, improving solvency and giving management time to restructure operations.
Negative Factors
Severe revenue deterioration
A near-50% TTM revenue decline is a structural red flag: it reduces operating leverage, weakens supplier and partner relationships, and makes fixed-cost absorption and margin recovery difficult. Sustained top-line weakness will impede cash generation and prolong restructuring needs even after asset sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Proceeds from Malaysian divestiture
A planned sale that can generate up to ~$51M (subject to adjustments) is a structural liquidity event. Proceeds can shore working capital, pay down secured obligations, and reduce operating scale and litigation exposure, improving solvency and giving management time to restructure operations.
Read all positive factors
Maxeon Solar Technologies (MAXN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$29.74M
Dividend YieldN/A
Average Volume (3M)49.73K
Price to Earnings (P/E)―
Beta (1Y)1.60
Revenue Growth-54.68%
EPS Growth63.56%
CountryUS
Employees1,591
SectorTechnology
Sector Strength88
IndustrySolar
Share Statistics
EPS (TTM)N/A
Shares Outstanding16,896,729
10 Day Avg. Volume49,940
30 Day Avg. Volume49,729
Financial Highlights & Ratios
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 Cap11.07
Enterprise Value/Revenue1.87
Enterprise Value/Gross Profit-1.36
Enterprise Value/Ebitda-0.65
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-2
Revenue Forecast (FY)$1.25B
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...
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 cust...
Maxeon Solar Technologies Earnings Call Summary
Earnings Call Date:May 23, 2024
(Q1-2024)
| % Change Since: |
Next Earnings Date:Apr 07, 2026
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.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.
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.
Read all updates
Q1-2024 Updates
Positive
Negative
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.
Read all positive updates
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
Income Statement
15
Very Negative
Balance Sheet
20
Very Negative
Cash Flow
25
Negative
| Breakdown | TTM | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 | Mar 2021 |
|---|---|---|---|---|---|---|
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
Negative
3.10
Price Trends
2.61
Negative
2.89
Negative
3.30
Negative
Market Momentum
-0.25
Positive
27.37
Positive
17.19
Positive
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 3.1 is above the 20-day moving average (MA) of 2.23, above the 50-day MA of 2.61, and below the 200-day MA of 3.30, indicating a bearish trend. The MACD of -0.25 indicates Positive momentum. The RSI at 27.37 is Positive, neither overbought nor oversold. The STOCH value of 17.19 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 3 New Risks
1.
We have received an unqualified opinion that included an explanatory paragraph regarding the Company's ability to continue as a going concern from our auditors. Q4, 2023
2.
Our cash flows have been, and may continue to be, negatively impacted by lower revenue as a result of increasing price competition, loss of a significant customer, as well as the general economic environment, cumulatively resulting in lower margins, among other implications. Q4, 2023
3.
We may be unable to obtain access to external financing necessary to make adequate capital expenditures necessary to improve our profitability, remain competitive and grow our business. Q4, 2023
Maxeon Solar Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $5.34B | 27.11 | 18.25% | ― | 20.97% | 226.98% | |
62 Neutral | $2.82B | -4.26 | -80.50% | ― | -0.14% | 66.71% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $1.20B | -0.75 | -18.83% | 10.19% | -34.29% | -732.90% | |
53 Neutral | $1.03B | -26.92 | -15.43% | ― | 35.75% | 37.97% | |
44 Neutral | $877.67M | -15.38 | -3.69% | ― | -4.46% | 1645.26% | |
42 Neutral | $29.74M | -0.39 | 194.99% | ― | -54.68% | 63.56% |
* Technology Sector Average
MAXN
Maxeon Solar Technologies
1.59
-1.54
-49.20%
CSIQ
Canadian Solar
14.31
4.37
43.96%
ENPH
Enphase Energy
42.53
-17.62
-29.29%
JKS
JinkoSolar
26.49
7.18
37.17%
SEDG
SolarEdge Technologies
51.28
35.18
218.51%
ARRY
Array Technologies
7.73
2.50
47.80%
Maxeon Solar Technologies Corporate Events
Maxeon Solar to Sell Malaysian Manufacturing Subsidiary for Up to US$51 Million
Jan 23, 2026
On January 23, 2026, Maxeon Solar Technologies announced that its Cayman Islands subsidiary, SunPower Technology Ltd., entered into a share sale and purchase agreement to divest all the issued shares of SunPower Malaysia Manufacturing Sdn. Bhd., a...
Maxeon Solar Clears Debt Covenants for Planned Sale of Malaysian Manufacturing Unit
Jan 23, 2026
On January 23, 2026, Maxeon Solar Technologies amended the indentures governing its 9.00% Convertible First Lien Senior Secured Notes due 2029, its Variable-Rate Convertible First Lien Senior Secured Notes due 2029, and its Adjustable-Rate Convert...
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.