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TPI Composites (TPICQ)
OTHER OTC:TPICQ
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TPI Composites
(OTC:TPICQ)
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Rating:40Underperform
Price Target:
$0.01
▼(-30.00% Downside)
TPI Composites' overall stock score is significantly impacted by its poor financial performance, characterized by declining revenues, negative margins, and high leverage. Technical analysis also indicates bearish trends, while valuation metrics reflect market concerns about profitability. These factors collectively suggest a challenging outlook for the company.
Positive Factors
Strategic Partnerships
Strategic partnerships and joint ventures can help TPI Composites leverage industry relationships, potentially leading to increased market share and improved profitability over time.
Renewable Energy Focus
Operating in the renewable energy sector positions TPI Composites to benefit from global trends towards sustainable energy, supporting long-term demand for its products.
Long-term Contracts
Long-term contracts with major OEMs provide TPI Composites with predictable revenue streams, enhancing financial stability and planning capabilities.
Negative Factors
Declining Revenue
Declining revenue growth indicates challenges in maintaining market position and competitiveness, potentially impacting long-term financial health.
High Leverage
High leverage and negative equity can lead to solvency issues, limiting TPI Composites' ability to invest in growth and weather financial downturns.
Negative Cash Flow
Negative cash flow and declining free cash flow growth indicate operational inefficiencies and financial strain, impacting the company's ability to sustain operations and invest in future growth.
TPI Composites (TPICQ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$769.94K
Dividend YieldN/A
Average Volume (3M)471.39K
Price to Earnings (P/E)―
Beta (1Y)1.00
Revenue Growth-7.25%
EPS Growth-67.67%
CountryUS
Employees11,700
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-2.84
Shares Outstanding48,730,267
10 Day Avg. Volume397,948
30 Day Avg. Volume471,387
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)-0.24
Price to Sales (P/S)0.07
P/FCF Ratio-6.55
Enterprise Value/Market Cap853.76
Enterprise Value/Revenue0.55
Enterprise Value/Gross Profit-7.06
Enterprise Value/Ebitda-4.32
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
TPI Composites Business Overview & Revenue Model
Company DescriptionTPI Composites, Inc. is a leading manufacturer of composite wind blades for the renewable energy sector, primarily focusing on wind energy. The company operates in the broader renewable energy industry, providing innovative solutions that enhance the efficiency and performance of wind turbines. TPI designs, engineers, and produces composite wind blades for several major wind turbine manufacturers, contributing to the global shift towards sustainable energy sources.
How the Company Makes MoneyTPI Composites generates revenue primarily through the sale of wind blades to major original equipment manufacturers (OEMs) in the wind energy sector. The company has established long-term contracts with key players in the industry, allowing for stable revenue streams. Additionally, TPI benefits from its manufacturing capabilities, which include advanced composite materials and production techniques, enabling cost-effective blade production. The company may also explore opportunities in the growing offshore wind market, further diversifying its revenue sources. Strategic partnerships with turbine manufacturers and involvement in joint ventures can enhance its market position and profitability.
TPI Composites Earnings Call Summary
Earnings Call Date:May 12, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Feb 19, 2026
Earnings Call Sentiment Neutral
TPI Composites reported strong revenue growth and operational achievements with a focus on sustainability. However, the company faces significant challenges, including an adjusted EBITDA loss, uncertainties in Türkiye, NASDAQ compliance issues, and policy-related risks in the U.S. While there are positive aspects, the lowlights indicate significant challenges that need to be addressed.Q1-2025 Updates
Positive Updates
Revenue Growth
Q1 revenue increased by 14% year-over-year, reaching $336.2 million, driven by strong demand in the U.S. market and successful transition of production lines.
Operational Achievements
Positive cash flows of $4.6 million from operating activities and the completion of line start-ups and transitions from 2024.
Sustainability Progress
Publication of 2024 sustainability report with a 17% reduction in overall market-based Scope 1 and 2 CO2 emissions and a commitment to carbon neutrality by 2030.
Strong U.S. Demand
Customer demand continues to be strong for TPI Composites' Mexico operations capacity for 2025, with plans to open production lines in Iowa.
Improved Adjusted EBITDA Margin
Adjusted EBITDA margin loss improved to 3.1% compared to 7.8% in the same period in 2024.
Negative Updates
Adjusted EBITDA Loss
Adjusted EBITDA was a loss of $10.3 million, including a $12.7 million warranty charge and $8.4 million of start-up and transition costs.
Challenges in Türkiye
Restructuring plan in Türkiye due to lower forecasted demand amid Chinese competition and hyperinflation, impacting 20% of the workforce.
NASDAQ Compliance Issue
Company received a notification letter from NASDAQ for not being in compliance with the minimum bid price requirement, with a deadline to regain compliance by October 29, 2025.
Tariff and Policy Uncertainties
Uncertainty around tariffs, permitting, and potential changes to the IRA in the U.S. impacting business operations.
Safety Incident Impact
Production suspension in April due to a safety stand-down affecting EBITDA margins.
Company Guidance
In the first quarter of 2025, TPI Composites reported a 14% year-over-year increase in revenue, reaching $336.2 million, with cash flows from operating activities at $4.6 million, and ending the quarter with $172 million in cash. Despite facing a $10.3 million adjusted EBITDA loss, which included significant warranty, start-up, and transition costs, TPI experienced robust demand in the U.S. market, particularly from their Mexico operations. The company is navigating challenges such as intense competition in Türkiye and fluctuating tariffs, which affect their global operations. Looking ahead, TPI forecasts sales between $1.4 billion to $1.5 billion for 2025, driven by increased blade shipments from Mexico and the reopening of their Iowa facility, albeit with a revised adjusted EBITDA margin outlook of 0% to 2% due to unforeseen warranty charges and safety-related production suspensions.TPI Composites Financial Statement Overview
Summary
TPI Composites is facing significant financial challenges with declining revenues, negative profitability margins, and a highly leveraged balance sheet. The cash flow situation is also weak, with negative free cash flow and low cash generation relative to net income. These factors suggest a need for strategic restructuring to improve financial health.Income Statement
TPI Composites has been experiencing declining revenue with a negative revenue growth rate of -10.92% in the TTM period. The company has negative margins across the board, with a gross profit margin of -3.27% and a net profit margin of -15.28%, indicating significant challenges in profitability. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies.20
Very Negative
Balance Sheet
The balance sheet shows a concerning financial structure with a negative stockholders' equity, leading to a negative debt-to-equity ratio of -1.51. This indicates high leverage and potential solvency issues. The return on equity is positive at 51.13%, but this is due to the negative equity, which is not a sustainable situation.15
Very Negative
Cash Flow
Cash flow analysis reveals a negative operating cash flow and free cash flow, with a significant decline in free cash flow growth at -197.94% in the TTM period. The operating cash flow to net income ratio is low at 0.07, indicating weak cash generation relative to net losses.25
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.19B | 1.33B | 1.46B | 1.52B | 1.73B | 1.67B |
| Gross Profit | -93.16M | -53.00M | -87.55M | 14.64M | -31.58M | 64.10M |
| EBITDA | -152.22M | -74.67M | -127.91M | 24.57M | -59.83M | -55.00K |
| Net Income | -292.78M | -240.71M | -201.78M | -55.55M | -159.55M | -19.03M |
Balance Sheet | ||||||
| Total Assets | 380.87M | 692.46M | 804.08M | 962.18M | 1.01B | 956.26M |
| Cash, Cash Equivalents and Short-Term Investments | 29.50M | 196.52M | 161.66M | 133.55M | 242.16M | 129.86M |
| Total Debt | 484.62M | 742.25M | 624.34M | 216.76M | 243.81M | 398.89M |
| Total Liabilities | 646.05M | 1.07B | 926.38M | 911.69M | 756.73M | 755.22M |
| Stockholders Equity | -265.18M | -373.24M | -122.30M | 50.49M | 250.97M | 201.03M |
Cash Flow | ||||||
| Free Cash Flow | -44.88M | -13.70M | -117.11M | -81.10M | -62.64M | -28.10M |
| Operating Cash Flow | -27.49M | 12.50M | -80.97M | -62.27M | -25.52M | 37.57M |
| Investing Cash Flow | -18.71M | -26.20M | -23.30M | -18.83M | -37.12M | -65.67M |
| Financing Cash Flow | -51.30M | 50.96M | 121.99M | -14.60M | 198.92M | 88.61M |
TPI Composites Technical Analysis
Negative
0.02
Price Trends
0.03
Negative
0.08
Negative
0.53
Negative
Market Momentum
>-0.01
Positive
32.62
Neutral
22.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TPICQ, the sentiment is Negative. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.03, and below the 200-day MA of 0.53, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 32.62 is Neutral, neither overbought nor oversold. The STOCH value of 22.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TPICQ.
TPI Composites Risk Analysis
TPI Composites disclosed 45 risk factors in its most recent earnings report. TPI Composites 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
TPI Composites Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $68.91M | 14.34 | 8.20% | ― | -1.47% | 52.65% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $17.92M | 0.99 | 21.29% | ― | -1.36% | ― | |
50 Neutral | $5.46M | -5.45 | ― | 8.25% | -23.37% | -264.09% | |
47 Neutral | $20.67M | -111.07 | -0.73% | ― | 19.84% | 95.71% | |
41 Neutral | $4.52M | -0.77 | -82.18% | ― | -57.40% | 52.85% | |
40 Underperform | $769.94K | >-0.01 | ― | ― | -7.25% | -67.67% |
* Industrials Sector Average
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TPI Composites Corporate Events
Executive/Board Changes
TPI Composites Board Member James Hughes Resigns
Neutral
Nov 4, 2025
On November 3, 2025, James A. Hughes resigned from TPI Composites‘ board of directors. His resignation was not due to any disagreements with the company’s operations, policies, or practices.
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.