Solid Power (SLDP) AI Stock Analysis

• Market Cap: $780.85M
• Dividend Yield: N/A
• Average Volume (3M): 5.66M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.88
• Revenue Growth: 25.24%
• EPS Growth: -12.96%
• Country: US
• Employees: 260
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Electrical Equipment & Parts
• EPS (TTM): -0.15
• Shares Outstanding: 220,578,320
• 10 Day Avg. Volume: 4,178,163
• 30 Day Avg. Volume: 5,657,770
• PEG Ratio: 1.24
• Price to Book (P/B): 1.68
• Price to Sales (P/S): 29.50
• P/FCF Ratio: -7.67
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 30.94
• Enterprise Value/Gross Profit: 559.79
• Enterprise Value/Ebitda: -7.45
• 1Y Price Target: $7.00
• Price Target Upside: 7.53% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.51
• Revenue Forecast (FY): $22.70M

• Rating: 45 Neutral
• Price Target: $3.50 ▼(-46.24% Downside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is primarily held down by weak financial performance driven by large losses and sustained cash burn, reinforced by bearish technicals (downtrend and negative momentum). Offsetting factors include improved liquidity and credible roadmap/customer validation from the latest earnings call, while valuation provides limited support given negative earnings and no dividend.

Positive Factors

Partnerships & customer validation

Formal evaluations and initial electrolyte deliveries to major OEM suppliers materially reduce technology and adoption risk over the medium term. These partnerships create structured feedback loops, accelerate engineering validation, and increase the likelihood of future commercial agreements and scale-up opportunities.

Strengthened liquidity runway

A sizable cash position and recent capital raises provide a multi‑quarter runway to fund pilot commissioning and R&D without immediate revenue dependence. This reduces near‑term financing risk, enabling execution on the pilot roadmap and partner validations required for commercialization.

Pilot production roadmap

A defined plan and ordered long‑lead equipment to commission a continuous electrolyte pilot line is a structural step toward manufacturability. Successful commissioning supports repeatable output, cost learning, and small commercial programs that underpin future scale and margin improvement.

Negative Factors

Large operating and net losses

Sustained, large losses indicate the business is far from breakeven and remain a structural constraint on equity returns. Without a clear path to materially improved unit economics, continued losses will erode equity and require persistent external funding over the next 2–6 months and beyond.

High and worsening cash burn

Operating cash flow has trended materially negative and free cash flow is deeply negative, creating ongoing dependence on capital markets. This cash burn limits strategic flexibility, pressures timing of commercialization investments, and increases execution risk if funding conditions tighten.

Ongoing reliance on external capital

Frequent equity financings reduce investor alignment and signal that operations are not yet self‑funding. Reliance on external capital elevates dilution risk and ties the company’s progress to capital market access rather than to operating cash generation or stable commercial revenues.

Solid Power Business Overview & Revenue Model

Company Description

Solid 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 Money

Solid Power generates revenue primarily through the development and sale of its solid-state battery technology and products. The company's revenue model includes partnerships with major automotive manufacturers and other industry players who are interested in integrating Solid Power's battery solutions into their electric vehicles. Additionally, Solid Power engages in research and development contracts, providing tailored solutions and technology to partners. Key revenue streams include licensing agreements, product sales, and potential joint ventures, which leverage Solid Power's innovative battery technology to meet the increasing market demand for efficient and safe energy storage systems.

Solid Power Financial Statement Overview

Summary

Strong multi-year revenue growth and very low leverage are outweighed by persistently weak profitability (no meaningful gross profit and large net losses) and heavy, ongoing cash burn with negative operating and free cash flow.

Income Statement

Revenue has scaled from $2.1M (2020) to $21.7M (2025) with strong growth in several years, but profitability remains very weak. Recent results show no meaningful gross profit (2025 gross profit at $0; 2024–2023 negative gross profit) and very large net losses (2025 net loss of -$93.4M; 2024 -$96.5M). Net margins are deeply negative (about -430% to -480% in 2024–2025), indicating the business is still far from breakeven despite top-line progress.

Balance Sheet

Leverage is low and conservative, with debt-to-equity around ~0.02 in 2023–2025 and total debt under $10M in those periods, which reduces financial risk. However, equity has been declining (from ~$555M in 2022 to ~$381M in 2025), and returns on equity are materially negative (about -13% to -25% in 2023–2025), reflecting ongoing losses and potential continued balance sheet erosion if losses persist.

Cash Flow

Cash generation is a clear weakness: operating cash flow is consistently negative and worsening in absolute dollars (about -$33.8M in 2022 to -$73.4M in 2025), and free cash flow is also deeply negative (2025 -$83.6M; 2024 -$80.3M). While free cash flow has improved slightly versus 2023, the company is still burning significant cash alongside large net losses, implying ongoing dependence on funding or a meaningful improvement in operating economics.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	21.75M	20.14M	17.41M	11.79M	2.71M
Gross Profit	1.10M	-145.00K	-10.32M	2.20M	-361.00K
EBITDA	-73.67M	-88.87M	-78.66M	-53.94M	-24.19M
Net Income	-93.41M	-96.52M	-65.55M	-9.55M	18.09M
Balance Sheet
Total Assets	153.97M	448.25M	532.79M	594.45M	617.68M
Cash, Cash Equivalents and Short-Term Investments	251.21M	118.20M	176.04M	323.08M	589.33M
Total Debt	8.21M	9.41M	9.55M	10.05M	130.00K
Total Liabilities	41.61M	37.94M	29.46M	39.07M	59.02M
Stockholders Equity	381.19M	410.31M	503.33M	555.37M	558.66M
Cash Flow
Free Cash Flow	-83.60M	-80.28M	-93.33M	-92.62M	-38.44M
Operating Cash Flow	-73.39M	-63.90M	-58.26M	-33.82M	-25.44M
Investing Cash Flow	-19.90M	64.20M	42.50M	-429.99M	-88.88M
Financing Cash Flow	89.48M	-9.43M	173.00K	485.00K	622.80M

Solid Power Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.51
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 6.51 is above the 20-day moving average (MA) of 3.81, above the 50-day MA of 4.51, and above the 200-day MA of 4.13, indicating a bearish trend. The MACD of -0.32 indicates Negative momentum. The RSI at 38.00 is Neutral, neither overbought nor oversold. The STOCH value of 64.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SLDP.

Solid Power Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
PLUG	52 Neutral	$2.49B	-0.82	-95.42%	―	2.53%	-2.83%
MVST	52 Neutral	$735.13M	-4.53	-35.82%	―	19.82%	-7.14%
ENVX	52 Neutral	$1.14B	-6.84	-60.52%	―	45.98%	44.14%
ADSE	48 Neutral	$709.45M	-8.47	―	―	-69.30%	9.90%
EOSE	46 Neutral	$1.93B	-0.81	―	―	324.10%	-214.91%
SLDP	45 Neutral	$780.85M	-7.01	-22.60%	―	25.24%	-12.96%

Solid Power Corporate Events

Solid Power Announces $130 Million Securities Offering Agreement

On January 28, 2026, Solid Power announced it had entered into a securities purchase agreement with a single sector-focused institutional investor to raise approximately $130 million in gross proceeds through the issuance of 17 million common shares, pre-funded warrants for up to about 5.8 million additional shares, and common warrants for up to roughly 45.6 million shares at an exercise price of $7.25. The transaction, expected to close around January 29, 2026 subject to customary conditions, will significantly expand the company’s potential share base while adding to an existing unaudited liquidity position of about $336.5 million as of December 31, 2025, bolstering working capital and general corporate funding as Solid Power continues its capital-intensive solid-state battery development in a market characterized by technological, competitive, regulatory, and execution risks highlighted in its risk disclosures.

The most recent analyst rating on (SLDP) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on Solid Power stock, see the SLDP Stock Forecast page.