T1 Energy Inc. (TE)
NYSE:TE
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T1 Energy
(NYSE:TE)
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Rating:52Neutral
Price Target:
$9.00
▲(78.93% Upside)
Action:Reiterated
Date:05/21/26
The score is primarily held back by weak financial performance (large ongoing losses, negative free cash flow, and rising leverage) despite improving revenue and positive operating cash flow. Technicals are supportive (strong momentum above major moving averages), but are tempered by overbought readings. Earnings call commentary is moderately positive on execution progress and margins, offset by significant remaining financing and policy/price uncertainty; valuation is constrained by a negative P/E and lack of dividend data.
Positive Factors
Margin improvement and positive operating cash flow
A record adjusted EBITDA and a material gross margin expansion reflect improving unit economics driven by higher‑margin contract mix. Coupled with positive trailing‑12‑month operating cash flow ($67.4M), this shows the business is beginning to convert scale into cash, supporting capex and working capital needs over the next several quarters if throughput and contracted mix persist.
Negative Factors
Large ongoing losses, negative free cash flow, rising leverage
Persistent deep net losses and negative free cash flow mean the company remains dependent on external capital to fund growth. Rising debt (to ~$478M) and a >2x leverage posture reduce financial flexibility, increase interest and refinancing risk, and constrain the firm's ability to absorb adverse merchant pricing or project delays without dilutive or costly financing.
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Positive Factors
Negative Factors
Margin improvement and positive operating cash flow
A record adjusted EBITDA and a material gross margin expansion reflect improving unit economics driven by higher‑margin contract mix. Coupled with positive trailing‑12‑month operating cash flow ($67.4M), this shows the business is beginning to convert scale into cash, supporting capex and working capital needs over the next several quarters if throughput and contracted mix persist.
Read all positive factors
T1 Energy (TE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.43B
Dividend YieldN/A
Average Volume (3M)20.26M
Price to Earnings (P/E)―
Beta (1Y)2.55
Revenue Growth1459.55%
EPS Growth34.17%
CountryUS
Employees328
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-2.20
Shares Outstanding279,271,400
10 Day Avg. Volume25,027,095
30 Day Avg. Volume20,263,028
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)3.60
Price to Sales (P/S)1.54
P/FCF Ratio69.61
Enterprise Value/Market Cap0.80
Enterprise Value/Revenue2.21
Enterprise Value/Gross Profit29.06
Enterprise Value/Ebitda-8.72
Forecast
1Y Price Target
$8.38Price Target Upside66.50% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.22
Revenue Forecast (FY)$930.15M
T1 Energy Business Overview & Revenue Model
Company Description
T1 Energy Inc engages in the production and sale of battery cells for stationary energy storage, electric mobility, and marine applications in Europe and internationally. The company designs and manufactures lithium-ion based battery cell faciliti...
How the Company Makes Money
null...
T1 Energy Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Positive
The call conveyed meaningful operational and financial progress (record adjusted EBITDA, margin expansion to 17%, G2 construction milestones met, and $176M of convertible proceeds) alongside a clear plan to close remaining financing and expand commercial supply. Material execution risks remain—notably the unresolved ~$225M G2 financing, dependence on Section 232 and tax-credit monetization timing, merchant-price uncertainty, and some near-term softness in sales due to customer inventory drawdown. On balance, the call emphasized concrete achievements and a clear path forward while acknowledging measurable but manageable risks.Positive Updates
Record Quarterly Adjusted EBITDA
T1 reported a record quarterly adjusted EBITDA of $9.1 million in Q1 2026 (highest quarterly adjusted EBITDA to date). Gross margin expanded to 17% in Q1 (~+10% versus the Q4 run rate) despite lower throughput, driven by a favorable mix shift to combined cost-plus and fixed-margin contracts (3 GW of contracted offtake for 2026). Throughput in Q1 was 683 MW (2.7 GW run rate).
Negative Updates
Sequential Sales Decline and Lower Throughput
Production sales were lower sequentially in Q1 as customers drew down module inventories ahead of safe-harbor deadlines; throughput in Q1 was 683 MW (2.7 GW run rate), below prior quarter selling activity, creating headwinds to near-term sales conversion despite improved margins.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Quarterly Adjusted EBITDA
T1 reported a record quarterly adjusted EBITDA of $9.1 million in Q1 2026 (highest quarterly adjusted EBITDA to date). Gross margin expanded to 17% in Q1 (~+10% versus the Q4 run rate) despite lower throughput, driven by a favorable mix shift to combined cost-plus and fixed-margin contracts (3 GW of contracted offtake for 2026). Throughput in Q1 was 683 MW (2.7 GW run rate).
Read all positive updates
Company Guidance
Management reiterated near‑term milestones and conditional 2026 guidance: G2_Austin Phase 1 is a 2.1 GW cell fab with a planned capital investment of $425M (remaining Phase 1 CapEx ≈ $225M), construction on schedule (concrete in April, full IFC finalized in May, first steel erection later in May) and first cell production targeted in Q4 2026, with a primarily debt‑based financing solution they expect to announce in 2Q 2026 after raising $176M net from an April convertible note offering; at G1_Dallas (5 GW module facility; >$600M invested; >1,200 employees) 2026 production guidance remains unchanged at 3.1–4.2 GW, Q1 throughput was 683 MW (2.7 GW run rate) with record quarterly adjusted EBITDA of $9.1M and a 17% gross margin (≈10 percentage points higher vs. Q4), and the company has completed non‑FEOC diligence with 4 international cell vendors; key near‑term variables that will drive updated 2026 guidance are customer demand/merchant pricing after the July 1 safe‑harbor deadline, the Commerce Section 232 outcome (expected in coming months), and the net result of the IEEPA tax refund, while 45X credit monetization for 2025 is expected near term and 2026 tax equity activity into 3Q–4Q.T1 Energy Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
34
Negative
Cash Flow
42
Neutral
| Breakdown | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 755.29M | 2.94M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 55.58M | 1.23M | 0.00 | -478.00K | -120.00K |
| EBITDA | -210.34M | -63.81M | -62.18M | -98.64M | -93.25M |
| Net Income | -367.83M | -450.15M | -71.94M | -98.79M | -93.38M |
Balance Sheet | |||||
| Total Assets | 1.37B | 1.34B | 732.90M | 828.44M | 627.03M |
| Cash, Cash Equivalents and Short-Term Investments | 182.45M | 72.64M | 254.31M | 563.04M | 563.96M |
| Total Debt | 327.19M | 713.38M | 0.00 | 14.40M | 0.00 |
| Total Liabilities | 1.05B | 1.10B | 98.19M | 108.31M | 81.55M |
| Stockholders Equity | 321.88M | 237.14M | 633.20M | 717.46M | 545.49M |
Cash Flow | |||||
| Free Cash Flow | 16.66M | -153.65M | -275.75M | -270.80M | -76.91M |
| Operating Cash Flow | 95.46M | -102.82M | -87.93M | -90.01M | -63.14M |
| Investing Cash Flow | -32.60M | -137.73M | -186.98M | -175.03M | -33.79M |
| Financing Cash Flow | 129.92M | 45.87M | 0.00 | 250.07M | 649.00M |
T1 Energy Technical Analysis
Positive
5.03
Price Trends
5.75
Positive
6.58
Positive
4.91
Positive
Market Momentum
0.47
Negative
76.95
Negative
86.82
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TE, the sentiment is Positive. The current price of 5.03 is below the 20-day moving average (MA) of 5.71, below the 50-day MA of 5.75, and above the 200-day MA of 4.91, indicating a bullish trend. The MACD of 0.47 indicates Negative momentum. The RSI at 76.95 is Negative, neither overbought nor oversold. The STOCH value of 86.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TE.
T1 Energy Risk Analysis
T1 Energy disclosed 54 risk factors in its most recent earnings report. T1 Energy 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
T1 Energy Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | $1.07B | -4.17 | -26.54% | ― | 48.29% | 11.56% | |
53 Neutral | $158.57M | -9.01 | -51.16% | ― | 10.21% | -94.23% | |
52 Neutral | $2.43B | -9.33 | -145.77% | ― | 1459.55% | 34.17% | |
45 Neutral | $26.48M | -0.54 | -926.77% | ― | -73.24% | 53.32% | |
43 Neutral | $22.96M | -1.12 | 209.00% | ― | ― | 72.29% | |
42 Neutral | $135.10M | -0.61 | -70.19% | ― | -3.74% | 9.32% |
* Industrials Sector Average
TE
T1 Energy
8.70
7.68
752.94%
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T1 Energy Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
T1 Energy Reports Record Q1 Results, Advances G2_Austin Project
Positive
May 12, 2026
T1 Energy reported its first-quarter 2026 results on May 12, 2026, highlighting record net income from continuing operations of $3.9 million and record adjusted EBITDA of $9.1 million, driven by higher-than-forecast production and sales at its G1_...
Executive/Board Changes
T1 Energy formalizes finance leadership with new appointment
Neutral
Apr 27, 2026
On April 22, 2026, T1 Energy Inc. announced that Chief Development Officer Einar Kilde submitted his resignation and retirement effective the same day, alongside a separation agreement providing NOK 5.5 million in severance, continued eligibility ...
Business Operations and StrategyPrivate Placements and Financing
T1 Energy Raises Capital via Convertible Notes Offering
Positive
Apr 17, 2026
On April 17, 2026, T1 Energy Inc. completed a $184 million public offering of 4.00% Convertible Senior Notes due 2031, yielding estimated net proceeds of about $174.7 million after fees. The notes, which carry an initial conversion price of roughl...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresRegulatory Filings and Compliance
T1 Energy Reports Record Results and Project Progress
Positive
Mar 31, 2026
On March 26 and March 30, 2026, T1 Energy announced the immediate resignations of directors Tore Ivar Slettemoen and Mingxing “Charles” Lin, noting the departures were not due to disagreements over company operations or policies. The b...
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.