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Solid Power (SLDP)
NASDAQ:SLDP
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Solid Power
(NASDAQ:SLDP)
54Neutral
Positive Factors
Financial Position
SLDP has approximately $350 million in cash and cash equivalents, providing enough funding to run the business into '28 at current burn rates.
Strategic Partnerships
SLDP is uniquely positioned with leverage to battery cell designs at OEM partners and electrolyte solutions sales as OEMs and battery manufacturers advance their own designs.
Negative Factors
Market Conditions
The likely trajectory of EV adoption in the US is flattening due to political headwinds.
Strategic Shifts
There is heightened uncertainty surrounding the strategic shift of de-prioritizing cell development.
Solid Power (SLDP) vs. S&P 500 (SPY)
Market Cap
$198.66M
Dividend YieldN/A
Average Volume (3M)1.76M
Price to Earnings (P/E)―
Beta (1Y)1.93
Revenue Growth15.67%
EPS Growth-45.59%
CountryUS
Employees260
SectorIndustrials
Sector Strength78
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.54
Shares Outstanding182,258,210
10 Day Avg. Volume1,115,170
30 Day Avg. Volume1,761,842
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 Cap1.16
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit11.48
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$2.00Price Target Upside83.49% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Solid Power Business Overview & Revenue Model
Company DescriptionSolid Power, Inc. focuses on the development and commercialization of all-solid-state battery cells and solid electrolyte materials for the battery-powered electric vehicle market in the United States. The company was founded in 2011 and is headquartered in Louisville, Colorado.
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.40
Negative
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
Neutral
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.50
Neutral
| 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
Negative
1.09
Price Trends
1.12
Negative
1.30
Negative
1.34
Negative
Market Momentum
<0.01
Negative
49.23
Neutral
31.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SLDP, the sentiment is Negative. The current price of 1.09 is above the 20-day moving average (MA) of 1.08, below the 50-day MA of 1.12, and below the 200-day MA of 1.34, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 49.23 is Neutral, neither overbought nor oversold. The STOCH value of 31.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $4.21B | 11.55 | 5.28% | 250.72% | 4.13% | -9.42% | |
54 Neutral | $198.66M | ― | -21.13% | ― | 15.67% | -45.59% | |
52 Neutral | $611.39M | ― | -45.91% | ― | 23.87% | -100.53% | |
45 Neutral | $852.84M | ― | -90.88% | ― | -29.45% | -10.79% | |
42 Neutral | $86.69M | ― | -18.96% | ― | 11.09% | 0.41% | |
39 Underperform | $173.25M | ― | -47.77% | ― | -27.50% | -58.61% | |
33 Underperform | $1.18B | ― | 125.43% | ― | -4.71% | -117.58% |
* Industrials Sector Average
Performance Comparison
SLDP
Solid Power
1.10
-0.72
-39.56%
FCEL
Fuelcell Energy
4.08
-22.92
-84.89%
PLUG
Plug Power
0.85
-1.89
-68.98%
MVST
Microvast Holdings
1.88
1.50
394.74%
EOSE
Eos Energy Enterprises
5.14
4.40
594.59%
NVX
NOVONIX Ltd Sponsored ADR
1.14
-1.09
-48.88%
Solid Power Earnings Call Summary
Earnings Call Date:Feb 27, 2025
(Q4-2024)
| % Change Since: -10.66%|
Next Earnings Date:May 06, 2025
Earnings Call Sentiment Neutral
Solid Power showcased significant advancements and partnerships in 2024, including an increase in revenue and strategic agreements with key industry players. However, the company also faced substantial financial losses and increased expenses, along with uncertainty in grant funding. Despite these challenges, Solid Power's strategic focus on electrolyte innovation and partnerships positions it well for future growth.Q4-2024 Updates
Positive Updates
Electrolyte Innovation Center Opening
Solid Power opened its state-of-the-art Electrolyte Innovation Center in 2024 to enhance production capabilities and improve electrolyte performance.
Partnership Expansion with SK On
Solid Power signed three key agreements with SK On, including a research and development license, a line installation agreement, and an electrolyte supply agreement, contributing $11.8 million to 2024 revenue.
U.S. Department of Energy Grant
Solid Power was selected for a grant of up to $50 million by the U.S. Department of Energy to install the first globally-known continuous manufacturing process of sulfide-based solid electrolyte materials.
Revenue Growth
Solid Power generated revenue of $20.1 million in 2024, a 16% increase from the previous year, primarily driven by agreements with SK On.
Capital Investment and Liquidity Management
Solid Power maintained financial discipline with a total cash investment of $79.8 million, ending the year with total liquidity of $327.5 million, below the expected range, showcasing effective cost management.
Negative Updates
Operating and Net Loss
Solid Power reported an operating loss of $105.3 million and a net loss of $96.5 million for 2024, indicating significant financial challenges.
Increased Operating Expenses
Operating expenses increased by $17.5 million to $125.5 million in 2024, driven by higher research and development costs and scaling of operations.
Uncertain DOE Grant Funding
There is uncertainty regarding the timing of the DOE grant funding due to a January 2025 executive order that paused disbursements pending further review.
Company Guidance
During the fourth quarter of 2024, Solid Power Inc. reported a revenue of $20.1 million, marking a 16% increase from the previous year's $17.4 million, slightly exceeding their guidance range of $16 million to $20 million. This growth was largely driven by agreements with SK On, accounting for $11.8 million of the revenue. Operating expenses increased to $125.5 million due to higher R&D costs and scaling operations, leading to an operating loss of $105.3 million and a net loss of $96.5 million, or $0.54 per share. Capital expenditures for 2024 totaled $15.9 million, primarily for the development of their Electrolyte Innovation Center. Solid Power ended the year with a total liquidity of $327.5 million, having invested $63.9 million into operations and $15.9 million into CapEx, which was below their guidance range of $100 million to $120 million. For 2025, the company expects cash investment to be between $100 million and $120 million, excluding any DOE grant benefits, and anticipates revenue to be consistent with or higher than in 2024.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.