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Solid Power (SLDP)
NASDAQ:SLDP
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Solid Power
(NASDAQ:SLDP)
52Neutral
Positive Factors
Financial Stability
SLDP's balance sheet provides a multi-year runway to all-solid state battery adoption as the EV market grows.
Funding and Grants
SLDP continues to execute well against near term goals and announced a $50M DOE grant, reducing concerns about potential equity dilution.
Strategic Position
SLDP is well positioned to weather the current political environment.
Negative Factors
Market Uncertainty
There is heightened uncertainty surrounding the strategic shift of de-prioritizing cell development.
Political Influence
The likely trajectory of EV adoption in the US is flattening due to political headwinds.
Regulatory Challenges
Regulatory headwinds pushing against EV adoption have stiffened in the US due to the Trump administration's comments and posturing.
Solid Power (SLDP) vs. S&P 500 (SPY)
Market Cap
$205.95M
Dividend YieldN/A
Average Volume (3M)1.68M
Price to Earnings (P/E)―
Beta (1Y)1.89
Revenue Growth3.22%
EPS Growth-33.20%
CountryUS
Employees260
SectorIndustrials
Sector Strength77
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.08
Shares Outstanding182,258,210
10 Day Avg. Volume920,722
30 Day Avg. Volume1,675,004
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.12
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit11.48
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$2.00Price Target Upside66.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Solid Power Business Overview & Revenue Model
Company DescriptionSolid Power, Inc. (SLDP) is a leading developer and manufacturer of all-solid-state battery technology, focusing on delivering safer and more efficient energy storage solutions. Operating in the advanced battery sector, Solid Power's core products include solid-state batteries designed for electric vehicles (EVs), portable electronics, and other applications requiring high energy density and enhanced safety features. By leveraging its proprietary technology, Solid Power aims to revolutionize energy storage and drive the transition towards sustainable electric mobility.
How the Company Makes MoneySolid Power generates revenue primarily through the development and sale of its solid-state battery technology. The company's key revenue streams include product sales, licensing agreements, and strategic partnerships with automotive and electronics manufacturers. Solid Power collaborates with major industry players to integrate its battery solutions into electric vehicles and other electronics, leading to ongoing partnerships that contribute to its earnings. Additionally, the company may engage in joint development agreements and receive funding from research grants to support its technological advancements and commercialization efforts.
Solid Power Financial Statement Overview
Summary
Solid Power demonstrates growth in revenue but continues to face profitability challenges and cash flow issues. The balance sheet is robust with low leverage, but declining equity raises concerns. The company needs to address its cash management and operational efficiency to improve its financial health.Income Statement
Solid Power shows revenue growth from $17.41M in 2023 to $20.14M in 2024, indicating positive momentum. However, the company consistently reports negative net income with a net profit margin of -479% in 2024. The EBIT margin is also negative at -523%, reflecting ongoing operational losses. Gross profit margins have improved, but the overall profitability remains challenged.―
Balance Sheet
The balance sheet reveals a strong equity base, with a debt-to-equity ratio of 0.02, indicating minimal reliance on debt. The equity ratio stands at 127%, showing that equity finances the majority of assets. However, a decrease in stockholders' equity from $503.34M in 2023 to $410.28M in 2024 indicates potential risks.60
Cash Flow
Operating cash flow is consistently negative, with a decline from -$58.26M in 2023 to -$63.90M in 2024. Free cash flow also remains negative, reflecting ongoing cash burn. Despite these challenges, the company has managed to maintain positive investing cash flows, suggesting strategic asset management.―
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 20.14M | 17.41M | 11.79M | 2.71M | 2.10M |
| Gross Profit | ||||
| 20.14M | -10.32M | 2.20M | -361.00K | 432.63K |
| EBIT | ||||
| -105.33M | -90.62M | -59.12M | -26.55M | -11.59M |
| EBITDA | ||||
| -77.78M | -52.72M | -3.82M | 20.82M | -11.82M |
| Net Income Common Stockholders | ||||
| -96.52M | -65.55M | -9.55M | 18.09M | -14.37M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 118.20M | 176.04M | 323.08M | 589.33M | 4.97M |
| Total Assets | ||||
| 448.25M | 532.79M | 594.45M | 617.68M | 14.21M |
| Total Debt | ||||
| 9.41M | 9.55M | 10.05M | 130.00K | 6.34M |
| Net Debt | ||||
| -16.01M | -24.98M | -40.07M | -513.32M | 1.36M |
| Total Liabilities | ||||
| 37.97M | 29.46M | 39.07M | 59.02M | 10.33M |
| Stockholders Equity | ||||
| 410.28M | 503.33M | 555.37M | 558.66M | 3.87M |
| Cash Flow | Free Cash Flow | |||
| -79.84M | -93.33M | -92.62M | -38.44M | -11.05M |
| Operating Cash Flow | ||||
| -63.90M | -58.26M | -33.82M | -25.44M | -9.99M |
| Investing Cash Flow | ||||
| 64.20M | 42.50M | -429.99M | -88.88M | -1.06M |
| Financing Cash Flow | ||||
| -9.43M | 173.00K | 485.00K | 622.80M | 5.39M |
Solid Power Technical Analysis
Positive
1.20
Price Trends
1.10
Positive
1.30
Negative
1.32
Negative
Market Momentum
0.01
Negative
62.14
Neutral
64.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SLDP, the sentiment is Positive. The current price of 1.2 is above the 20-day moving average (MA) of 1.11, above the 50-day MA of 1.10, and below the 200-day MA of 1.32, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 62.14 is Neutral, neither overbought nor oversold. The STOCH value of 64.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SLDP.
Solid Power Risk Analysis
Solid Power disclosed 58 risk factors in its most recent earnings report. Solid Power 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
Solid Power Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $4.25B | 11.69 | 5.23% | 249.83% | 4.04% | -9.46% | |
52 Neutral | $205.95M | ― | -20.64% | ― | 3.22% | -33.20% | |
52 Neutral | $625.13M | ― | -45.91% | ― | 23.87% | -100.53% | |
45 Neutral | $805.85M | ― | -90.88% | ― | -29.45% | -10.79% | |
42 Neutral | $85.32M | ― | -18.96% | ― | 11.09% | 0.41% | |
42 Neutral | $1.21B | ― | 125.43% | ― | 37.60% | -161.38% | |
40 Underperform | $175.60M | ― | -47.77% | ― | -27.50% | -58.61% |
* Industrials Sector Average
Performance Comparison
SLDP
Solid Power
1.20
-0.54
-31.03%
FCEL
Fuelcell Energy
3.85
-19.00
-83.15%
PLUG
Plug Power
0.78
-1.74
-69.05%
MVST
Microvast Holdings
1.93
1.54
394.87%
EOSE
Eos Energy Enterprises
6.67
6.03
942.19%
NVX
NOVONIX Ltd Sponsored ADR
1.15
-1.11
-49.12%
Solid Power Earnings Call Summary
Earnings Call Date:May 06, 2025
(Q1-2025)
| % Change Since: 6.19%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted Solid Power's strategic advancements and strong liquidity, but also pointed out the significant financial losses and limited revenue growth beyond collaborative arrangements. The sentiment is mixed, with a balance of positive progress and financial challenges.Q1-2025 Updates
Positive Updates
Successful Start to 2025
Solid Power successfully began 2025 with progress on its operational goals, including executing on its electrolyte development roadmap and planning to install a continuous manufacturing pilot line for sulfide electrolyte production with an expected capacity of 75 metric tons per year.
Achievement in SK On Agreement
Solid Power is advancing with the SK On agreement, having completed factory acceptance testing and moving towards site acceptance testing later in the year, which is a key milestone.
Financial Performance
Revenue for Q1 2025 was $6 million, a slight increase from $5.9 million in Q1 2024. Operating expenses decreased by $1.7 million compared to the previous year.
Strong Liquidity Position
The company ended the quarter with a total liquidity of $300 million, providing a solid foundation for future investments and operations.
Negative Updates
Operating and Net Losses
Solid Power reported an operating loss of $24 million and a net loss of $15 million, or $0.08 per share, highlighting ongoing financial challenges despite revenue growth.
Limited Revenue Growth
Although there was a slight increase in revenue, the growth was not substantial, with the company relying heavily on collaborative arrangements and government contracts.
Company Guidance
During the first quarter of 2025, Solid Power has provided guidance on several key metrics and objectives. The company is planning to install a continuous manufacturing pilot line for sulfide electrolyte production, which is expected to increase production capacity to 75 metric tons per year. Revenue for Q1 2025 reached $6 million, slightly up from $5.9 million in Q1 2024, with significant contributions from the SK On agreement. Operating expenses decreased to $30 million, resulting in an operating loss of $24 million and a net loss of $15 million, or $0.08 per share. Capital expenditures were reported at $2.4 million, primarily for the construction of the new production line. Solid Power ended the quarter with $300 million in liquidity, while investing $28.7 million in operations and capital expenditures. The company remains focused on achieving its corporate objectives including driving electrolyte innovation, expanding customer engagement, and maintaining fiscal discipline.Solid Power Corporate Events
Private Placements and FinancingBusiness Operations and Strategy
Solid Power Expands Electrolyte Production with DOE Grant
Positive
Mar 19, 2025
On March 19, 2025, Solid Power published a PowerPoint presentation outlining its strategic focus on expanding electrolyte production capabilities and enhancing its market position in the solid-state battery sector. The company plans to increase its pilot electrolyte manufacturing capacity and has secured a DOE grant to support this expansion. Solid Power’s technology is positioned to meet the growing demand for sulfide-based chemistries in the automotive and battery manufacturing industries, with partnerships established to integrate into the Asian battery ecosystem.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.