Tecogen (TGEN) AI Stock Analysis

• Market Cap: $109.88M
• Dividend Yield: N/A
• Average Volume (3M): 229.34K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.17
• Revenue Growth: -8.61%
• EPS Growth: -2.30%
• Country: US
• Employees: 91
• Sector: Industrials
• Sector Strength: 91
• Industry: Electrical Equipment & Parts
• EPS (TTM): -0.03
• Shares Outstanding: 25,259,268
• 10 Day Avg. Volume: 421,788
• 30 Day Avg. Volume: 229,343
• PEG Ratio: 1.01
• Price to Book (P/B): 4.79
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -69.98
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

Tecogen's stock score reflects a mix of ongoing financial challenges and promising strategic initiatives. While the company struggles with profitability and valuation remains unattractive due to negative earnings, the technical analysis shows strong momentum. Strategic corporate moves, such as the NYSE uplisting, and positive earnings call feedback, suggest potential for future growth, providing a balanced outlook.

Tecogen Business Overview & Revenue Model

Company Description

Tecogen Inc. designs, manufactures, markets, and maintains industrial and commercial cogeneration systems for residential, commercial, recreational, and industrial use in the United States and internationally. It operates through three segments: Products, Services, and Energy Production. The company offers InVerde e+ and TecoPower, a cogeneration product that supplies electricity and hot water; TECOCHILL air-conditioning and refrigeration chillers; Tecofrost gas engine-driven refrigeration compressors; and water heaters under the Ilios brand name, as well as emissions control technology under the Ultera brand name. It also provides long-term maintenance contracts, parts sales, and turnkey installation services through a network of eleven field service centers in California, the Midwest, the Northeast, and the Southeast, as well as in Ontario, Canada. In addition, the company installs, owns, operates, and maintains distributed generation of electricity, energy, and other complementary systems. It serves hospitals and nursing homes, colleges, universities, health clubs, spas, hotels, motels, office and retail buildings, food and beverage processors, multi-unit residential buildings, laundries, ice rinks, swimming pools, factories, municipal buildings, military installations, and indoor growing facilities. The company was incorporated in 2000 and is headquartered in Waltham, Massachusetts.

How the Company Makes Money

Tecogen generates revenue through the sale and installation of its energy-efficient products, including cogeneration systems, chillers, and heat pumps. The company also derives income from long-term maintenance service contracts, ensuring optimal performance and longevity of its products. Additionally, Tecogen benefits from government incentives and regulations that promote the adoption of clean energy technologies. Partnerships with utility companies and other entities further enhance Tecogen's market reach and contribute to its revenue streams.

Tecogen Financial Statement Overview

Summary

Tecogen faces financial challenges with declining revenues and persistent net losses impacting profitability. Despite a reasonable debt-to-equity ratio, negative free cash flow and equity returns suggest the need for strategic improvements.

Income Statement

Tecogen's TTM revenue of $22.44M shows a decline compared to $25.14M in 2023. The gross profit margin stands at 42.27%, indicating a fair ability to cover production costs, though the negative net profit margin of -24.00% and declining revenue growth point to profitability challenges. EBIT and EBITDA margins are also negative, highlighting operating inefficiencies.

Balance Sheet

The company's debt-to-equity ratio of 0.34 indicates a manageable debt level relative to equity. However, the decreased equity ratio of 41.14% reflects a reduced buffer against liabilities. A negative ROE of -47.65% in the TTM suggests significant challenges in generating returns on equity.

Cash Flow

Tecogen's operating cash flow to net income ratio is positive at 0.01, but free cash flow remains negative, indicating cash generation issues. The free cash flow growth rate shows some improvement from the previous period, but it remains negative, highlighting ongoing liquidity challenges.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
22.44M	25.14M	25.00M	24.40M	28.25M	33.43M
	Gross Profit
9.48M	10.20M	11.07M	11.59M	10.83M	12.48M
	EBIT
-5.24M	-4.41M	-2.39M	53.84K	-2.84M	-2.05M
	EBITDA
-4.69M	-3.85M	-1.94M	4.24M	-5.65M	-4.24M
	Net Income Common Stockholders
-5.39M	-4.60M	-2.40M	3.70M	-6.22M	-4.79M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
272.55K	1.35M	1.91M	3.61M	1.49M	877.68K
	Total Assets
49.90M	27.79M	28.25M	32.36M	30.07M	41.12M
	Total Debt
2.01M	1.48M	1.31M	1.96M	3.60M	4.58M
	Net Debt
1.74M	127.02K	-602.93K	-1.66M	2.11M	3.70M
	Total Liabilities
21.87M	13.14M	9.27M	11.23M	12.81M	17.76M
	Stockholders Equity
27.78M	14.75M	19.09M	21.21M	17.31M	23.27M
Cash Flow		Free Cash Flow
-774.12K	-870.17K	-1.70M	310.49K	1.22M	-4.69M
	Operating Cash Flow
79.94K	-823.32K	-1.35M	465.03K	1.41M	-4.48M
	Investing Cash Flow
-892.98K	-244.89K	-348.56K	-215.06K	-217.76K	4.71M
	Financing Cash Flow
1.45M	505.50K	-76.84K	1.87M	-576.93K	298.39K

Tecogen Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TGEN, the sentiment is Positive. The current price of 4.5 is above the 20-day moving average (MA) of 3.01, above the 50-day MA of 2.49, and above the 200-day MA of 1.70, indicating a bullish trend. The MACD of 0.51 indicates Negative momentum. The RSI at 76.41 is Negative, neither overbought nor oversold. The STOCH value of 71.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TGEN.

Tecogen Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	64 Neutral	$4.44B	11.99	5.16%	249.23%	4.01%	-11.87%
TGEN	63 Neutral	$109.88M	―	-36.98%	―	-8.61%	-2.30%
PPSI	59 Neutral	$33.58M	―	-43.18%	―	-19.60%	-483.35%
FLUX	56 Neutral	$32.29M	―	-1582.76%	―	-1.45%	-15.76%
FCEL	46 Neutral	$93.58M	―	-18.96%	―	11.09%	0.41%
GWH	39 Underperform	$25.90M	―	-172.05%	―	-58.05%	-6.90%

Tecogen Corporate Events

Tecogen Reports Q1 2025 Financial Results Improvement

Tecogen Inc. reported its first quarter 2025 financial results, showing a revenue increase to $7.28 million and a reduced net loss of $0.66 million compared to the previous year. The company has improved its financial performance with a 17.6% revenue increase and a narrowed adjusted EBITDA loss, despite higher operating expenses due to increased R&D and strategic hires. Tecogen’s recent listing on the NYSE American stock exchange aims to boost stock liquidity and visibility. The company continues to advance its data center strategy, with updates on larger scale projects and a partnership with Vertiv expected during an upcoming conference call.

Spark’s Take on TGEN Stock

According to Spark, TipRanks’ AI Analyst, TGEN is a Neutral.

Tecogen’s overall stock score reflects significant financial challenges with declining revenues and ongoing losses. While technical analysis indicates positive momentum, valuation concerns due to unprofitability weigh negatively. The earnings call and corporate events highlight strategic improvements and potential growth opportunities, balancing the challenges with some optimism.

To see Spark’s full report on TGEN stock, click here.

Tecogen Announces NYSE American Uplisting Approval

On April 30, 2025, Tecogen Inc. announced that its shares of common stock have been approved for listing on the NYSE American stock exchange, with trading expected to commence on or about May 6, 2025. This uplisting from the OTCQX Best Market is anticipated to enhance the company’s visibility, expand its investor base, and improve liquidity for its shares, marking a significant milestone in Tecogen’s growth strategy.

Spark’s Take on TGEN Stock

According to Spark, TipRanks’ AI Analyst, TGEN is a Neutral.

Tecogen’s stock score reflects significant financial challenges, with declining revenues and ongoing losses impacting the financial performance score. The earnings call revealed strategic improvements, including a partnership with Vertiv and increased recurring revenues, indicating potential for future growth. The technical analysis shows positive momentum, but valuation concerns due to unprofitability weigh on the overall score.

To see Spark’s full report on TGEN stock, click here.

Tecogen’s President Increases Commitment Amid Growth Plans

In February 2025, Tecogen Inc. announced that President and COO Robert A. Panora increased his commitment to full-time to address anticipated growth opportunities, leading to a salary increase. Additionally, the company hired a new Manufacturing Manager in January 2025 to enhance production, and Vice President of Operations Joseph E. Gehret departed in February 2025 but will remain available for consultations for up to a year.