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Solid Power
(NASDAQ:SLDP)
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Rating:48Neutral
Price Target:
$2.50
▲(20.19% Upside)
Action:Reiterated
Date:08/05/26
The score is held down primarily by weak financial performance (declining revenue, very large losses, and heavy cash burn) and bearish technical trend signals. These negatives are partially offset by a strong balance sheet and a relatively constructive earnings call focused on near-term operational milestones and ample liquidity, but commercialization and revenue timing remain key risks.
Positive Factors
Strong balance sheet and liquidity
A large cash runway and no debt materially reduce near-term refinancing risk and give management time to complete pilot commissioning, ISO certification, and JV negotiations without urgent capital raises. This supports multi-quarter investment in scale-up and partner qualification.
Negative Factors
Substantial cash burn and negative free cash flow
Persistent negative operating and free cash flow means the business is consuming liquidity to fund operations and scale-up. Even with current runway, sustained burn increases the probability of future equity or partner financing, diluting shareholders and forcing tighter execution timing.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet and liquidity
A large cash runway and no debt materially reduce near-term refinancing risk and give management time to complete pilot commissioning, ISO certification, and JV negotiations without urgent capital raises. This supports multi-quarter investment in scale-up and partner qualification.
Read all positive factors
Solid Power (SLDP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$463.47M
Dividend YieldN/A
Average Volume (3M)4.15M
Price to Earnings (P/E)―
Beta (1Y)1.83
Revenue Growth-6.92%
EPS Growth4.50%
CountryUS
Employees230
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.46
Shares Outstanding224,983,690
10 Day Avg. Volume3,748,555
30 Day Avg. Volume4,151,346
Financial Highlights & Ratios
PEG Ratio1.22
Price to Book (P/B)1.54
Price to Sales (P/S)29.50
P/FCF Ratio-7.67
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$6.88Price Target Upside230.53% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.44
Revenue Forecast (FY)$7.33M
Solid Power Business Overview & Revenue Model
Company Description
Solid Power, Inc. (SLDP) is a battery technology company in the energy storage and electric vehicle supply chain focused on developing and commercializing all-solid-state battery technology. The company’s core offerings include its sulfide-based s...
How the Company Makes Money
Solid Power generates revenue primarily from (1) selling solid electrolyte materials and (2) earning contract and collaboration revenue from joint development agreements and other research-and-development services with industry partners. The mater...
Solid Power Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational execution: pilot line equipment installed and on schedule, ISO certification process advancing, improved electrolyte performance with major partners (Samsung SDI and BMW), milestone payments from SK On, active JV discussions in Korea, and a robust balance sheet with $419.3 million in liquidity and no debt. Counterbalancing these positives are continued development-stage economics — a negative reported quarter revenue (noncash reversal of $1.2M), modest year-to-date revenue ($2.8M), and meaningful quarterly operating and net losses ($30.3M and $23.8M). Several important items remain milestones rather than completed events (ISO Stage 2, JV closing, pilot-line commercial output), leaving some execution and timing risk. Overall, the call projects momentum and sufficient financial runway while acknowledging standard early-stage commercialization risks.Positive Updates
Manufacturing Scale-Up on Schedule
Continuous electrolyte production pilot line: all major equipment installed (last major piece, rotary kiln, installed in May). Equipment acceptance testing on track for completion in Q3; plant validation and operational start-up expected in Q4; first output from the line expected in Q1 next year. Designed capacity for the pilot line: 45 metric tons.
Negative Updates
Negative Reported Revenue in the Quarter
Second quarter revenue reported as negative $0.3 million due to a noncash reversal of $1.2 million in revenue from Q1 tied to a change in assumptions on milestone payments under the SK On R&D license agreement. The reversal was noncash and did not involve direct cost reversals according to management.
Read all updates
Q2-2026 Updates
Positive
Negative
Manufacturing Scale-Up on Schedule
Continuous electrolyte production pilot line: all major equipment installed (last major piece, rotary kiln, installed in May). Equipment acceptance testing on track for completion in Q3; plant validation and operational start-up expected in Q4; first output from the line expected in Q1 next year. Designed capacity for the pilot line: 45 metric tons.
Read all positive updates
Company Guidance
The company guided to several near-term operational and commercial milestones: it expects to announce a joint venture for commercial-scale electrolyte production in South Korea by year-end (discussions ongoing with three parties, one with a draft term sheet), completed installation of major equipment (rotary kiln installed in May) with all equipment in-house and equipment acceptance testing on track for completion in Q3, plant validation and operational start-up expected in Q4, and first output from the continuous pilot line (45 metric tons annual capacity once fully commissioned) anticipated in Q1 next year. Quality and certification targets include completing the ISO 9001 Stage 2, a three-day audit, in Q3 and achieving certification by year-end. Financial guidance/metrics highlighted a strong liquidity position of $419.3 million, year-to-date revenue of $2.8 million, Q2 revenue of negative $0.3 million (driven by a $1.2 million reversal), Q2 operating expenses of $30.0 million (vs. $29.4 million in Q1), an operating loss of $30.3 million, net loss of $23.8 million or $0.11 per share, capital expenditures of $6.3 million in the quarter, contract assets and accounts receivable of $3.2 million, total current liabilities of $17.2 million, and no debt.Solid Power Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
78
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.25M | 21.75M | 20.14M | 17.41M | 11.79M | 2.71M |
| Gross Profit | -9.91M | 1.10M | -145.00K | -10.32M | 2.20M | -361.00K |
| EBITDA | -78.41M | -73.58M | -78.82M | -53.50M | -4.56M | 20.82M |
| Net Income | -89.77M | -93.41M | -96.52M | -65.55M | -9.55M | 18.09M |
Balance Sheet | ||||||
| Total Assets | 527.07M | 457.78M | 448.25M | 532.79M | 594.45M | 617.68M |
| Cash, Cash Equivalents and Short-Term Investments | 242.44M | 251.21M | 118.20M | 176.04M | 323.08M | 589.33M |
| Total Debt | 7.53M | 8.26M | 9.41M | 9.55M | 10.05M | 130.00K |
| Total Liabilities | 25.32M | 41.61M | 37.94M | 29.46M | 39.07M | 59.02M |
| Stockholders Equity | 501.74M | 415.70M | 410.31M | 503.33M | 555.37M | 558.66M |
Cash Flow | ||||||
| Free Cash Flow | -72.23M | -83.60M | -80.28M | -93.33M | -92.62M | -38.44M |
| Operating Cash Flow | -59.83M | -73.39M | -63.90M | -58.26M | -33.82M | -25.44M |
| Investing Cash Flow | -154.59M | -19.90M | 64.20M | 42.50M | -429.99M | -88.88M |
| Financing Cash Flow | 212.46M | 89.48M | -9.43M | 173.00K | 485.00K | 622.80M |
Solid Power Technical Analysis
Negative
2.08
Price Trends
2.62
Negative
2.88
Negative
3.90
Negative
Market Momentum
-0.13
Negative
41.51
Neutral
57.48
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 2.08 is below the 20-day moving average (MA) of 2.23, below the 50-day MA of 2.62, and below the 200-day MA of 3.90, indicating a bearish trend. The MACD of -0.13 indicates Negative momentum. The RSI at 41.51 is Neutral, neither overbought nor oversold. The STOCH value of 57.48 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
54 Neutral | $268.89M | -6.01 | -10.76% | ― | -10.44% | 67.16% | |
49 Neutral | $892.25M | -4.99 | -67.92% | ― | 49.88% | 27.54% | |
48 Neutral | $463.47M | -4.20 | -21.56% | ― | -6.92% | 4.50% | |
48 Neutral | $2.87B | -1.45 | -139.28% | ― | 15.19% | 42.87% | |
47 Neutral | $1.19B | -0.77 | 41.51% | ― | 725.76% | 20.97% | |
47 Neutral | $967.67M | -10.44 | 491.82% | ― | -69.97% | 45.77% |
* Consumer Cyclical Sector Average
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Solid Power Corporate Events
Business Operations and StrategyExecutive/Board Changes
Solid Power adds BMW battery strategist to board
Positive
Jul 2, 2026
On July 1, 2026, Solid Power appointed Uwe Breitweg, BMW Group’s Vice President Powertrain, Emission and Battery Strategy, to its board of directors as a Class III director, succeeding retiring BMW nominee Rainer Feurer. Breitweg, who has mo...
Business Operations and StrategyRegulatory Filings and Compliance
Solid Power Updates Strategy in Investor Presentation Disclosure
Neutral
Jun 12, 2026
On June 12, 2026, Solid Power published an updated investor presentation outlining its strategy as a leading developer of sulfide‑based solid electrolytes for all‑solid‑state batteries and highlighting progress in lithium‑i...
Executive/Board ChangesShareholder Meetings
Solid Power Shareholders Back Board, Auditors and Pay
Positive
May 21, 2026
On May 20, 2026, Solid Power, Inc. held its 2026 annual meeting of stockholders, with 116,367,028 of 224,519,421 eligible shares represented. Shareholders elected Class II directors Steven Goldberg, Aleksandra Miziolek, and MaryAnn Wright, confirm...
Business Operations and StrategyFinancial Disclosures
Solid Power Highlights Electrolyte-Focused Strategy in New Overview
Positive
May 7, 2026
On May 7, 2026, Solid Power published a new Company Overview presentation for use in meetings with investors and analysts, outlining its business model centered on manufacturing and selling sulfide-based solid electrolytes instead of producing ful...
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.