TPI Composites (TPICQ)
OTHER OTC:TPICQ
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TPI Composites
(OTC:TPICQ)
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Select Model
Rating:40Underperform
Price Target:
$0.01
▼(-45.00% Downside)
Action:ReiteratedDate:03/26/26
The score is driven primarily by very weak financial performance (widening losses, negative free cash flow, and negative equity with substantial debt). Technicals add downside risk given negative momentum and the large gap versus the 200-day trend, while valuation offers limited support due to loss-making results and no dividend data. Corporate events further weigh on the outlook because the company is executing asset sales within a Chapter 11 process and managing DIP default-related pressure.
Positive Factors
Long-term OEM supply agreements
TPI’s core model relies on multi-year supply agreements and per-blade contracts with large turbine OEMs, providing structural revenue visibility and program-level demand. Such contract ties support predictable production planning, customer stickiness, and durable revenue streams for several quarters.
Negative Factors
Negative equity and high leverage
Negative equity and sustained high debt levels materially weaken financial flexibility and raise refinancing and solvency risk. Over-leveraging constrains investment in capacity and innovation, elevates creditor control during restructuring, and limits the company’s ability to fund operations over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term OEM supply agreements
TPI’s core model relies on multi-year supply agreements and per-blade contracts with large turbine OEMs, providing structural revenue visibility and program-level demand. Such contract ties support predictable production planning, customer stickiness, and durable revenue streams for several quarters.
Read all positive factors
TPI Composites (TPICQ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$390.13K
Dividend YieldN/A
Average Volume (3M)471.39K
Price to Earnings (P/E)―
Beta (1Y)0.88
Revenue Growth-7.25%
EPS Growth-67.67%
CountryUS
Employees11,700
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-1.97
Shares Outstanding48,765,812
10 Day Avg. Volume397,948
30 Day Avg. Volume471,387
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)>-0.01
Price to Sales (P/S)0.00061
P/FCF Ratio>-0.01
Enterprise Value/Market Cap1.25K
Enterprise Value/Revenue0.53
Enterprise Value/Gross Profit-4.40
Enterprise Value/Ebitda-2.75
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.03
Revenue Forecast (FY)$1.43B
TPI Composites Business Overview & Revenue Model
Company Description
TPI 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 ...
How the Company Makes Money
TPI Composites makes money primarily by manufacturing and selling wind turbine blades and related composite products to major wind turbine OEMs under multi-year supply agreements. Revenue is generated on a per-blade (or per-set) basis for blades p...
TPI Composites Earnings Call Summary
Earnings Call Date:May 12, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 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.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.
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.
Read all updates
Q1-2025 Updates
Positive
Negative
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.
Read all positive updates
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
Income Statement
12
Very Negative
Balance Sheet
8
Very Negative
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 918.46M | 1.33B | 1.46B | 1.52B | 1.73B |
| Gross Profit | -110.60M | -53.00M | -87.55M | 14.64M | -31.58M |
| EBITDA | -179.37M | -74.67M | -127.91M | 24.57M | -59.83M |
| Net Income | -340.80M | -240.71M | -201.78M | -55.55M | -159.55M |
Balance Sheet | |||||
| Total Assets | 342.44M | 692.46M | 804.08M | 962.18M | 1.01B |
| Cash, Cash Equivalents and Short-Term Investments | 13.90M | 196.52M | 161.66M | 133.55M | 242.16M |
| Total Debt | 499.84M | 742.25M | 624.34M | 216.76M | 243.81M |
| Total Liabilities | 698.15M | 1.07B | 926.38M | 911.69M | 756.73M |
| Stockholders Equity | -355.71M | -373.24M | -122.30M | 50.49M | 250.97M |
Cash Flow | |||||
| Free Cash Flow | -140.94M | -13.70M | -117.11M | -81.10M | -62.64M |
| Operating Cash Flow | -126.41M | 12.50M | -80.97M | -62.27M | -25.52M |
| Investing Cash Flow | -15.85M | -26.20M | -23.30M | -18.83M | -37.12M |
| Financing Cash Flow | -44.45M | 50.96M | 121.99M | -14.60M | 198.92M |
TPI Composites Technical Analysis
Negative
0.02
Price Trends
0.01
Negative
0.02
Negative
0.30
Negative
Market Momentum
>-0.01
Negative
46.07
Neutral
32.50
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 above the 20-day moving average (MA) of 0.01, above the 50-day MA of 0.01, and below the 200-day MA of 0.30, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.07 is Neutral, neither overbought nor oversold. The STOCH value of 32.50 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 |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $5.01M | -2.32 | ― | 8.18% | -23.37% | -264.09% | |
55 Neutral | $34.55M | 15.05 | -0.72% | ― | 19.84% | 95.71% | |
54 Neutral | $45.92M | 12.35 | 8.34% | ― | -1.47% | 52.65% | |
50 Neutral | $12.97M | -1.69 | 21.29% | ― | -1.36% | ― | |
41 Neutral | $4.98M | -2.28 | -82.18% | ― | -57.40% | 52.85% | |
40 Underperform | $390.13K | >-0.01 | ― | ― | -7.25% | -67.67% |
* Industrials Sector Average
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TPI Composites Corporate Events
Business Operations and StrategyLegal ProceedingsM&A Transactions
TPI Composites Agrees to Sell Global Wind Blade Business
Negative
Mar 9, 2026
On March 6, 2026, TPI Composites and certain subsidiaries agreed to sell equity interests in several indirect units and substantially all assets tied to its wind blade manufacturing and services operations in the U.S., Mexico, Europe, and Latin Am...
Business Operations and StrategyLegal ProceedingsM&A TransactionsPrivate Placements and Financing
TPI Composites Restructures Global Operations Amid DIP Default
Negative
Mar 5, 2026
On March 4, 2026, TPI Composites and its subsidiaries agreed to sell substantially all assets of their Chennai, India wind blade manufacturing business to Vestas Wind Technology India for $10 million in cash plus assumed liabilities, contingent on...
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.