Tecogen (TGEN) AI Stock Analysis

• Market Cap: $200.39M
• Dividend Yield: N/A
• Average Volume (3M): 469.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.25
• Revenue Growth: -8.61%
• EPS Growth: -2.30%
• Country: US
• Employees: 91
• Sector: Industrials
• Sector Strength: 93
• Industry: Electrical Equipment & Parts
• EPS (TTM): -0.03
• Shares Outstanding: 25,269,361
• 10 Day Avg. Volume: 448,588
• 30 Day Avg. Volume: 469,226
• PEG Ratio: -6.91
• Price to Book (P/B): 16.26
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 96.70
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 1.70
• Enterprise Value/Gross Profit: 14.97
• Enterprise Value/Ebitda: -9.50
• 1Y Price Target: $6.50
• Price Target Upside: -13.33% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 60 Neutral
• Price Target: $6.50 ▼(-13.33%Downside)

Tecogen's stock performance is moderately rated due to a combination of factors. The positive earnings call highlights strategic progress and revenue growth, which are major strengths. Technical analysis shows bullish momentum, yet valuation remains a concern due to negative profitability indicators.

Tecogen Business Overview & Revenue Model

Company Description

Tecogen Inc. (TGEN) is a leading provider of clean energy solutions, specializing in the design, manufacture, and installation of industrial and commercial cogeneration systems. Based in the United States, the company operates within the energy solutions sector, focusing on combined heat and power (CHP) systems, chillers, and heat pumps. Tecogen's innovative products are engineered to improve energy efficiency and reduce greenhouse gas emissions, catering to a diverse range of clients including hospitals, schools, and commercial buildings.

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 faces challenges with consistent net losses and negative operating margins, impacting the income statement. The balance sheet remains fairly stable with low leverage, but declining equity is a concern. Cash flow improvements are evident, yet profitability remains a key issue to address for future growth.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	22.62M	25.14M	25.00M	24.40M	28.25M
Gross Profit	9.87M	10.20M	11.07M	11.59M	10.83M
EBITDA	-4.01M	-3.88M	-1.90M	4.24M	-5.65M
Net Income	-4.76M	-4.60M	-2.45M	3.70M	-6.15M
Balance Sheet
Total Assets	31.09M	27.79M	28.25M	32.36M	30.07M
Cash, Cash Equivalents and Short-Term Investments	5.41M	1.35M	1.91M	3.61M	1.49M
Total Debt	3.73M	1.48M	1.31M	1.96M	3.60M
Total Liabilities	20.97M	13.14M	9.27M	11.23M	12.81M
Stockholders Equity	10.23M	14.75M	19.09M	21.21M	17.31M
Cash Flow
Free Cash Flow	3.09M	-870.17K	-1.70M	310.49K	1.22M
Operating Cash Flow	4.06M	-823.32K	-1.35M	465.03K	1.41M
Investing Cash Flow	-1.01M	-244.89K	-348.56K	-215.06K	-217.76K
Financing Cash Flow	1.01M	505.50K	-76.84K	1.87M	-576.93K

Tecogen Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.50
• 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 7.5 is above the 20-day moving average (MA) of 7.33, above the 50-day MA of 5.58, and above the 200-day MA of 2.71, indicating a bullish trend. The MACD of 0.75 indicates Positive momentum. The RSI at 54.63 is Neutral, neither overbought nor oversold. The STOCH value of 51.39 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 *	65 Neutral	$10.90B	15.41	5.26%	1.89%	3.11%	-26.85%
TGEN	60 Neutral	$200.39M	―	-36.98%	―	-8.61%	-2.30%
FLUX	56 Neutral	$32.12M	―	-1582.76%	―	-1.45%	-15.76%
PPSI	54 Neutral	$30.25M	―	-43.18%	―	-19.60%	-483.35%
FCEL	45 Neutral	$119.65M	―	-20.52%	―	48.62%	0.23%
GWH	44 Neutral	$18.64M	―	-172.05%	―	-58.05%	-6.90%

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.