Complete Solaria (SPWR) AI Stock Analysis

• Market Cap: $139.62M
• Dividend Yield: N/A
• Average Volume (3M): 1.41M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.17
• Revenue Growth: 308.47%
• EPS Growth: 76.84%
• Country: US
• Employees: 600
• Sector: Technology
• Sector Strength: 88
• Industry: Solar
• EPS (TTM): -0.05
• Shares Outstanding: 83,108,710
• 10 Day Avg. Volume: 1,803,841
• 30 Day Avg. Volume: 1,406,925
• PEG Ratio: 0.03
• Price to Book (P/B): -1.34
• Price to Sales (P/S): 1.21
• P/FCF Ratio: -2.35
• Enterprise Value/Market Cap: 2.06
• Enterprise Value/Revenue: 1.17
• Enterprise Value/Gross Profit: 2.68
• Enterprise Value/Ebitda: -19.47
• 1Y Price Target: $4.50
• Price Target Upside: 167.86% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: $1.50 ▼(-10.71% Downside)

Complete Solaria's overall stock score is primarily impacted by its weak financial performance, characterized by high leverage and consistent losses. Technical analysis indicates bearish momentum, while valuation metrics suggest overvaluation concerns. Despite positive corporate events, these factors significantly weigh down the stock's attractiveness.

Positive Factors

Revenue Growth

Strong revenue growth indicates expanding market reach and product adoption, supporting long-term business sustainability and competitiveness.

Strategic Acquisitions

Acquisitions like Sunder Energy enhance market position and operational capabilities, potentially boosting revenue and expanding geographic reach.

Market Position

Achieving a top market position strengthens brand recognition and competitive advantage, facilitating further growth and customer acquisition.

Negative Factors

High Leverage

High leverage poses risks to financial stability, limiting flexibility and increasing vulnerability to economic downturns.

Negative Cash Flow

Negative cash flow challenges sustainability, potentially hindering investment in growth opportunities and operational improvements.

Nasdaq Compliance Risk

Non-compliance with Nasdaq rules risks delisting, which could impact investor confidence and access to capital markets.

Complete Solaria Business Overview & Revenue Model

Company Description

Complete Solaria (SPWR) is a leading provider of solar energy solutions, specializing in the design, manufacturing, and distribution of high-efficiency solar panels and related technologies. The company operates within the renewable energy sector, focusing on both residential and commercial markets. Complete Solaria offers a range of products including solar modules, energy storage systems, and integrated solar solutions that cater to the growing demand for sustainable energy solutions.

How the Company Makes Money

Complete Solaria generates revenue primarily through the sale of solar panels and energy systems to residential and commercial customers. The company operates a direct sales model, often partnering with local installers and contractors to reach end-users more effectively. Additionally, Complete Solaria may generate income through long-term power purchase agreements (PPAs) and leasing options, allowing customers to pay for solar energy over time. Significant partnerships with utility companies and financing institutions also contribute to its earnings by facilitating customer access to solar technology and financing options. Moreover, the company's focus on innovation and efficiency in its product offerings helps in maintaining competitive pricing and attracting a broader customer base.

Complete Solaria Financial Statement Overview

Summary

Complete Solaria shows strong revenue growth but struggles with profitability and liquidity. The company is heavily leveraged with negative equity and consistent losses, posing significant risks to financial stability.

Income Statement

Complete Solaria shows significant revenue growth over the years, with a notable increase from $29.38M in 2020 to $108.74M in 2024. However, profitability metrics are concerning; the company has consistently reported net losses, with a net profit margin of -51.93% in 2024. Gross profit margin improved slightly over the years, reaching 36.32% in 2024. The EBIT and EBITDA margins remain negative, indicating operational challenges.

Balance Sheet

The balance sheet reveals high leverage, with total debt exceeding total assets in recent years. In 2024, the debt-to-equity ratio is negative due to negative equity, which poses a risk to financial stability. The equity ratio is also negative, indicating that liabilities exceed assets, a major concern for long-term solvency.

Cash Flow

Cash flow statements reflect a consistent negative free cash flow, indicating cash outflows exceeding inflows from operations. Although financing activities have provided cash inflows, primarily from debt, operating cash flow remains negative, raising concerns about sustainability. The free cash flow to net income ratio is negative, further highlighting cash constraints.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	244.47M	108.74M	87.62M	66.47M	1.13B	29.38M
Gross Profit	107.01M	39.50M	17.79M	19.83M	252.05M	12.28M
EBITDA	-14.74M	-35.48M	-81.25M	-22.36M	39.89M	-4.86M
Net Income	-45.26M	-56.45M	-269.56M	-29.48M	-46.70M	-5.68M
Balance Sheet
Total Assets	163.14M	144.47M	47.32M	1.76B	1.55B	1.65B
Cash, Cash Equivalents and Short-Term Investments	11.13M	13.38M	2.59M	509.51M	489.62M	232.76M
Total Debt	157.90M	153.06M	63.21M	559.00M	587.64M	691.82M
Total Liabilities	270.32M	242.00M	124.14M	1.20B	1.16B	1.24B
Stockholders Equity	-107.18M	-97.54M	-76.81M	574.85M	388.39M	404.17M
Cash Flow
Free Cash Flow	-54.35M	-55.82M	-60.59M	-235.39M	-58.65M	-208.50M
Operating Cash Flow	-54.08M	-54.66M	-58.61M	-31.51M	-44.48M	-187.39M
Investing Cash Flow	-53.77M	-54.66M	6.17M	492.97M	54.29M	129.19M
Financing Cash Flow	117.14M	120.10M	50.42M	31.19M	-108.01M	-153.85M

Complete Solaria Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.68
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPWR, the sentiment is Positive. The current price of 1.68 is above the 20-day moving average (MA) of 1.62, below the 50-day MA of 1.71, and below the 200-day MA of 1.68, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 53.36 is Neutral, neither overbought nor oversold. The STOCH value of 63.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SPWR.

Complete Solaria Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SOL	56 Neutral	$99.56M	-10.91	-2.90%	―	-29.98%	-13.97%
FTCI	55 Neutral	$142.98M	-2.23	-664.69%	―	39.53%	-7.16%
TYGO	46 Neutral	$105.53M	-2.26	-177.48%	―	97.41%	11.83%
ZEO	45 Neutral	$61.56M	-1.32	―	―	27.17%	57.71%
SPWR	40 Underperform	$139.62M	-2.52	―	―	308.47%	76.84%
MAXN	39 Underperform	$55.93M	―	―	―	-54.68%	63.56%

Complete Solaria Corporate Events

Complete Solaria Announces Strategic Asset Acquisition

Complete Solaria, a public solar company, is leveraging its venture return potential through strategic acquisitions and financial maneuvers. On December 4, 2025, SunPower Inc. announced an investor presentation highlighting its plans to acquire assets from SunPower, aiming to scale revenue significantly. This move is part of a broader strategy to enhance market positioning and operational capabilities, which includes raising substantial funds and expanding its sales force through the acquisition of Sunder Energy.

SunPower Faces Nasdaq Deficiency Notification

On November 20, 2025, SunPower Inc. issued a $2,000,000 convertible promissory note to a trust controlled by its CEO, Thurman J. Rodgers. The note, bearing a 12% interest rate, is set to mature on July 1, 2029, and includes options for conversion into common stock. Additionally, on November 19, 2025, SunPower received a deficiency notification from Nasdaq due to a delay in filing its Q3 Form 10-Q, which the company expects to file during the week of November 24, 2025. This notification does not immediately affect the company’s stock listing, but requires a compliance plan within 60 days.

SunPower Completes Acquisition of Ambia Energy

On November 21, 2025, SunPower Inc. completed the acquisition of Ambia Energy, a solar power installation company, for $37.5 million. This strategic move positions SunPower as the fifth-largest U.S. residential solar company and is expected to enhance its operational capabilities and sales force. The acquisition is anticipated to increase SunPower’s revenue estimates for Q4 2025 and Q1 2026, with expectations of record operating income. The integration of Ambia’s management team and salesforce is seen as a significant step in transforming SunPower’s business operations.

SunPower to Acquire Ambia Solar for $37.5 Million

SunPower announced its intent to acquire Ambia Solar for $37.5 million in equity, with the transaction expected to close in Q4 2025. This acquisition is projected to add $83.6 million in annual revenue starting in Q1 2026, enhancing SunPower’s operational capabilities and positioning it to capitalize on industry consolidation and the upcoming expiration of the ITC for individual homeowners.

Complete Solaria Reports Record Q3 2025 Operating Income

Complete Solaria, a solar technology, services, and installation company, reported a record operating income of $3.12 million for Q3 2025, with revenue increasing to $70 million. The company anticipates further growth in Q4 2025, with projected revenues of $83.3 million and an operating income of $3.56 million. The acquisition of Sunder Energy has expanded SunPower’s reach and dealer salesforce, positioning the company as the No. 5 residential solar company in the U.S. This strategic move is expected to significantly boost bookings and revenue, enhancing SunPower’s market presence.

Complete Solaria Acquires Sunder Energy for $40 Million

Complete Solaria, Inc., a Delaware corporation, completed the acquisition of Sunder Energy LLC on September 24, 2025, through a Membership Interest Purchase Agreement. The transaction involved a cash payment of $20 million, a promissory note of $20 million, and the issuance of common stock, with additional shares to be issued pending shareholder approval. The company also closed a private offering of 7.00% Convertible Senior Notes due 2029, raising $22 million, which was used to finance the acquisition and related expenses.

Complete Solaria Announces Convertible Notes Purchase

On September 22, 2025, Complete Solaria, Inc. announced on its website that it has provided information to certain investors regarding the purchase of its 7.00% Convertible Senior Notes due 2029. This move is in connection with the company’s agreement to acquire Sunder Energy LLC. The company has made it clear that all statements in the presentation, except for historical financial information, are forward-looking and are not guarantees of future performance.

Complete Solaria Acquires Sunder Energy for Expansion

On September 21, 2025, Complete Solaria, Inc. entered into a Membership Interest Purchase Agreement to acquire Sunder Energy LLC, a notable U.S. solar company. The acquisition, valued at $40 million in cash and 10 million shares of common stock, is expected to significantly enhance SunPower’s market position by expanding its operations from 22 to 45 states and boosting its revenue through Sunder’s existing contracts. This strategic move is anticipated to double SunPower’s salesforce and increase its revenue, positioning the company for substantial growth in the consolidating solar industry.