Solaris Energy Infrastructure (SEI)
NYSE:SEI
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Solaris Energy Infrastructure
(NYSE:SEI)
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Rating:60Neutral
Price Target:
$64.00
▲(4.85% Upside)
Action:ReiteratedDate:04/09/26
SEI scores moderately due to strong operational momentum and constructive guidance/contract visibility, supported by an established uptrend in price. The score is held back by higher financial risk from sharply increased leverage and persistently negative free cash flow, plus a demanding valuation (high P/E and low yield).
Positive Factors
Long-term contracted Power capacity
Multi-year, investment-grade contracts and an upsized 15-year JV create durable revenue and cash-flow visibility for the Power segment. These agreements reduce spot exposure, underpin multi-year utilization plans, and materially improve the company's ability to secure project financing and scale deployed capacity.
Negative Factors
Elevated leverage
The sharp increase in leverage meaningfully reduces financial flexibility and raises refinancing and interest coverage risks. In a capital-intensive rollout, high debt magnifies downside from project delays or margin pressure and can constrain strategic options without successful cash-flow conversion or additional equity.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term contracted Power capacity
Multi-year, investment-grade contracts and an upsized 15-year JV create durable revenue and cash-flow visibility for the Power segment. These agreements reduce spot exposure, underpin multi-year utilization plans, and materially improve the company's ability to secure project financing and scale deployed capacity.
Read all positive factors
Solaris Energy Infrastructure (SEI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.18B
Dividend Yield1.07%
Average Volume (3M)2.74M
Price to Earnings (P/E)69.7
Beta (1Y)1.94
Revenue Growth92.33%
EPS Growth116.22%
CountryUS
Employees364
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)-0.04
Shares Outstanding53,115,993
10 Day Avg. Volume1,920,893
30 Day Avg. Volume2,740,116
Financial Highlights & Ratios
PEG Ratio1.97
Price to Book (P/B)3.72
Price to Sales (P/S)3.38
P/FCF Ratio-4.80
Enterprise Value/Market Cap1.22
Enterprise Value/Revenue8.21
Enterprise Value/Gross Profit25.39
Enterprise Value/Ebitda23.60
Forecast
1Y Price Target
$67.78Price Target Upside11.04% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)1.55
Revenue Forecast (FY)$825.26M
Solaris Energy Infrastructure Business Overview & Revenue Model
Company Description
Solaris Energy Infrastructure, Inc. designs and manufactures specialized equipment for oil and natural gas operators in the United States. The company provides technician support, last mile, and mobilization logistics services. It is also involved...
How the Company Makes Money
SEI primarily makes money by providing fee-based services and equipment to upstream oil and gas operators and their service providers. A key revenue stream is last‑mile logistics for frac sand: SEI supplies and operates specialized on‑site handlin...
Solaris Energy Infrastructure Key Performance Indicators (KPIs)
Any
Revenue by Segment
Tracks top-line sales across the company’s business segments (for example generation, storage, services, or project development), showing where growth is coming from and where the business is concentrated. Useful for assessing diversification, market reach, and whether management is successfully shifting mix toward higher-growth or more predictable businesses.
Tracks top-line sales across the company’s business segments (for example generation, storage, services, or project development), showing where growth is coming from and where the business is concentrated. Useful for assessing diversification, market reach, and whether management is successfully shifting mix toward higher-growth or more predictable businesses.
Data provided by:
The Fly
The FlySolaris Energy Infrastructure Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 27, 2026
Earnings Call Sentiment Positive
The earnings call conveyed strong positive momentum: record annual revenue and adjusted EBITDA growth, major long-term contracts (including a >500 MW 10-year deal and a 15-year JV upsized to 500–900 MW), solid Logistics cash generation and near‑term guidance upgrades. Management also detailed strategic acquisitions and regulatory tailwinds (EPA subpart KKKKa) that enhance speed-to-market and service breadth. Notable challenges include margin pressure from project mix and third‑party capacity, supply‑chain and OEM delivery timing uncertainty, the need to secure additional capacity to meet demand, and some localized permitting/operational questions. Overall the positive items (material revenue/earnings growth, high-quality contracts, funding for 2.2 GW, strong cash flow from Logistics, and regulatory tailwinds) materially outweigh the listed challenges, though execution and supply/capacity risks warrant monitoring.Positive Updates
Record Revenue and EBITDA Growth
Full year 2025 revenue nearly doubled year-over-year to $622 million and adjusted EBITDA more than doubled to $244 million, reflecting strong execution across the business and the success of the diversified strategy (roughly +100% YoY revenue and >100% YoY adjusted EBITDA).
Negative Updates
Power Segment Margin Pressure and Timing Impacts
Power segment adjusted EBITDA in Q4 was $53 million, a modest decrease from Q3 due to a less favorable project mix and timing-related costs when owned generation units rotated off a utility resiliency project into planned refurbishment. Increased use of third-party leased capacity during ramp also produced a lower-margin mix.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Revenue and EBITDA Growth
Full year 2025 revenue nearly doubled year-over-year to $622 million and adjusted EBITDA more than doubled to $244 million, reflecting strong execution across the business and the success of the diversified strategy (roughly +100% YoY revenue and >100% YoY adjusted EBITDA).
Read all positive updates
Company Guidance
The company provided concrete near-term and longer-term financial and operational guidance: full-year 2025 revenue nearly doubled to $622 million with adjusted EBITDA more than doubling to $244 million and Logistics Solutions generating over $80 million of free cash flow; Q4 revenue was nearly $180 million with consolidated adjusted EBITDA of $69 million (Power segment adj. EBITDA $53 million; ~780 MW generated revenue in Q4; Logistics averaged 93 fully utilized systems, up 11% vs. Q3, with segment adj. EBITDA ≈ $23 million and top‑fill utilization rising from mid‑90% in Q4 to nearly 100% in Q1). For 1Q26 Solaris now guides total adjusted EBITDA of $72–$77 million (up from $70–$75M) and introduces 2Q26 guidance of $76–$84 million, expecting Power segment adjusted EBITDA to increase by more than 20% in 1Q; the company is fully funded for scheduled deliveries to reach 2,200 MW, expects pro forma total‑company “earnings” of over $600 million (before additional scope), and highlighted material contracted capacity including a 15‑year JV upsized to ~500–900 MW and a new 10‑year (+5‑year option) >500 MW customer (energization phased into Q1 2027).Solaris Energy Infrastructure Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
46
Neutral
Cash Flow
40
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 622.21M | 313.09M | 292.95M | 320.00M | 159.19M |
| Gross Profit | 285.41M | 80.95M | 78.92M | 69.80M | 16.52M |
| EBITDA | 216.45M | 95.95M | 86.09M | 72.24M | 26.82M |
| Net Income | 30.17M | 15.81M | 24.34M | 21.16M | -868.00K |
Balance Sheet | |||||
| Total Assets | 2.14B | 1.12B | 468.30M | 462.58M | 406.22M |
| Cash, Cash Equivalents and Short-Term Investments | 353.32M | 114.25M | 5.83M | 8.84M | 36.50M |
| Total Debt | 1.08B | 328.88M | 47.79M | 20.48M | 7.52M |
| Total Liabilities | 1.32B | 456.15M | 152.72M | 145.45M | 108.35M |
| Stockholders Equity | 564.34M | 355.62M | 205.98M | 215.72M | 203.15M |
Cash Flow | |||||
| Free Cash Flow | -437.65M | -129.05M | 23.87M | -13.41M | -3.17M |
| Operating Cash Flow | 209.10M | 59.37M | 88.26M | 68.00M | 16.47M |
| Investing Cash Flow | -686.36M | -305.03M | -62.00M | -79.54M | -19.52M |
| Financing Cash Flow | 670.70M | 399.70M | -29.26M | -16.12M | -20.82M |
Solaris Energy Infrastructure Technical Analysis
Positive
61.04
Price Trends
54.52
Positive
51.72
Positive
44.08
Positive
Market Momentum
0.81
Positive
57.55
Neutral
47.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SEI, the sentiment is Positive. The current price of 61.04 is above the 20-day moving average (MA) of 58.56, above the 50-day MA of 54.52, and above the 200-day MA of 44.08, indicating a bullish trend. The MACD of 0.81 indicates Positive momentum. The RSI at 57.55 is Neutral, neither overbought nor oversold. The STOCH value of 47.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SEI.
Solaris Energy Infrastructure Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $3.61B | 6.88 | 39.31% | ― | 8.71% | 72.09% | |
73 Outperform | $1.95B | 29.70 | 3.41% | ― | -1.24% | 337.41% | |
72 Outperform | $1.94B | 12.21 | 43.60% | 1.32% | ― | ― | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | $4.56B | 20.22 | 7.25% | 1.78% | -12.05% | -46.45% | |
60 Neutral | $4.18B | 69.65 | 6.45% | 1.07% | 92.33% | 116.22% | |
54 Neutral | $2.29B | -3.49 | -5.25% | ― | 3.18% | -53.71% |
* Energy Sector Average
SEI
Solaris Energy Infrastructure
61.04
41.83
217.69%
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17.11
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DNOW
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LBRT
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28.16
16.76
147.00%
FLOC
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21.25
1.33
6.69%
Solaris Energy Infrastructure Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Solaris Expands Term Loan Commitments to Boost Liquidity
Positive
Apr 8, 2026
On April 8, 2026, Solaris Energy Infrastructure, Inc. and certain subsidiaries amended their senior secured term loan agreement originally dated March 16, 2026, with Goldman Sachs Bank USA as administrative and collateral agent and a syndicate of ...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Solaris Energy Reshapes Capital Structure and Acquires Genco
Positive
Mar 20, 2026
On March 16, 2026, Solaris Energy Infrastructure closed the acquisition of Focus Genco Cayman Ltd. for approximately $81 million in cash and 4,182,772 Class A shares, giving it full ownership of Genco and associated gas turbine assets previously l...
Executive/Board Changes
Solaris Energy Infrastructure Names New Chief Financial Officer
Positive
Feb 17, 2026
On February 12, 2026, Solaris Energy Infrastructure, Inc. appointed Stephan E. Tompsett as Chief Financial Officer and principal financial officer, bringing in an executive with extensive energy, midstream and restructuring experience, including p...
Business Operations and Strategy
Solaris Energy Signs Major AI Data Center Power Deal
Positive
Feb 12, 2026
On February 12, 2026, Solaris Power Solutions, an indirect subsidiary of Solaris Energy Infrastructure, entered into a Master Equipment Rental Agreement with Hatchbo, LLC, an affiliate of a global artificial intelligence technology leader, to supp...
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.