Tecogen (TGEN) AI Stock Analysis

• Market Cap: $156.16M
• Dividend Yield: N/A
• Average Volume (3M): 436.99K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.15
• Revenue Growth: -8.61%
• EPS Growth: -2.30%
• Country: US
• Employees: 91
• Sector: Industrials
• Sector Strength: 84
• Industry: Electrical Equipment & Parts
• EPS (TTM): -0.03
• Shares Outstanding: 25,269,361
• 10 Day Avg. Volume: 386,442
• 30 Day Avg. Volume: 436,988
• PEG Ratio: 0.08
• Price to Book (P/B): 1.63
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -18.31
• Enterprise Value/Market Cap: 0.20
• Enterprise Value/Revenue: 0.33
• Enterprise Value/Gross Profit: 2.90
• Enterprise Value/Ebitda: -1.84
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 63 Neutral
• Price Target: $6.50 ▲(6.04%Upside)

Tecogen's overall stock score is driven by positive technical momentum and strategic advancements highlighted in the earnings call. Financial performance remains a challenge with ongoing net losses and weak valuation metrics. The company's ability to leverage strategic partnerships and market positioning will be crucial for future growth.

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 primarily through the sale and installation of its cogeneration systems, which include CHP units, chillers, and heat pumps. These systems are designed to provide cost-effective and environmentally friendly energy solutions by simultaneously generating electricity and useful heat from a single fuel source. In addition to product sales, Tecogen earns income from long-term service contracts, providing ongoing maintenance and support for its installations. The company may also benefit from energy efficiency incentives and rebates, which can enhance the financial attractiveness of its solutions. Significant partnerships with energy service companies and building operators further expand its market reach and contribute to its revenue streams.

Tecogen Financial Statement Overview

Summary

Tecogen exhibits weak profitability metrics with consistent net losses and negative operating margins. The balance sheet shows low financial leverage with a manageable debt-to-equity ratio, but declining equity is concerning. Cash flow improvements are present, yet profitability remains a key issue.

Income Statement

The company exhibits weak profitability metrics with a consistent net loss over the periods. The TTM (Trailing-Twelve-Months) shows a slight revenue increase of 4.8% compared to the previous annual report, but gross profit margin remains moderate at 44.3%. Both EBIT and EBITDA margins are negative, indicating operational challenges.

Balance Sheet

Tecogen has a manageable debt-to-equity ratio of 0.19 in the TTM, showing low financial leverage. The equity ratio is 32.5%, providing stability, but the overall stockholders' equity has declined over recent periods, suggesting weakening financial strength.

Cash Flow

Free cash flow has improved in the TTM with a growth rate of approximately -46.8% from the previous year, indicating better cash management despite operating losses. The operating cash flow to net income ratio is negative, reflecting the net losses, but the company maintains positive free cash flow.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
23.71M	22.62M	25.14M	25.00M	24.40M	28.25M
	Gross Profit
10.52M	9.87M	10.20M	11.07M	11.59M	10.83M
	EBIT
-3.87M	-4.33M	-4.41M	-2.35M	-1.22M	-5.96M
	EBITDA
-3.71M	-4.01M	-3.88M	-1.90M	4.24M	-5.65M
	Net Income Common Stockholders
-4.32M	-4.76M	-4.60M	-2.45M	3.70M	-6.15M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
4.07M	5.41M	1.35M	1.91M	3.61M	1.49M
	Total Assets
29.73M	31.09M	27.79M	28.25M	32.36M	30.07M
	Total Debt
1.81M	3.73M	1.48M	1.31M	1.96M	3.60M
	Net Debt
-2.25M	-1.67M	127.02K	-602.93K	-1.66M	2.11M
	Total Liabilities
20.21M	20.97M	13.14M	9.27M	11.23M	12.81M
	Stockholders Equity
9.65M	10.23M	14.75M	19.09M	21.21M	17.31M
Cash Flow		Free Cash Flow
1.64M	3.09M	-870.17K	-1.70M	310.49K	1.22M
	Operating Cash Flow
2.64M	4.06M	-823.32K	-1.35M	465.03K	1.41M
	Investing Cash Flow
-1.11M	-1.01M	-244.89K	-348.56K	-215.06K	-217.76K
	Financing Cash Flow
1.03M	1.01M	505.50K	-76.84K	1.87M	-576.93K

Tecogen Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.13
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• 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 6.13 is above the 20-day moving average (MA) of 5.47, above the 50-day MA of 3.86, and above the 200-day MA of 2.19, indicating a bullish trend. The MACD of 0.65 indicates Positive momentum. The RSI at 65.57 is Neutral, neither overbought nor oversold. The STOCH value of 72.57 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 *	66 Neutral	$4.44B	12.08	5.34%	5.82%	4.17%	-11.81%
TGEN	63 Neutral	$156.16M	―	-36.98%	―	-8.61%	-2.30%
PPSI	58 Neutral	$30.30M	―	-43.18%	―	-19.60%	-483.35%
FCEL	57 Neutral	$138.57M	―	-20.52%	―	48.62%	0.23%
FLUX	48 Neutral	$25.56M	―	-1582.76%	―	-1.45%	-15.76%
GWH	39 Underperform	$11.98M	―	-172.05%	―	-58.05%	-6.90%
RAYA		$94.12M	―	-4.77%	―	―	―

Tecogen Corporate Events

Tecogen Holds Annual Stockholders Meeting on June 10

On June 10, 2025, Tecogen Inc. held its Annual Meeting of Stockholders where two key proposals were presented. The first proposal involved the election of seven directors, all of whom were successfully elected to serve until the 2026 annual meeting. The second proposal was the ratification of Wolf & Company, P.C. as the independent registered public accountants for the fiscal year ending December 31, 2025, which was approved by a majority vote.

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.

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.