TPI Composites (TPICQ) AI Stock Analysis

• Market Cap: $614.00K
• Dividend Yield: N/A
• Average Volume (3M): 471.39K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.88
• Revenue Growth: -7.25%
• EPS Growth: -67.67%
• Country: US
• Employees: 11,700
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): -2.84
• Shares Outstanding: 48,730,267
• 10 Day Avg. Volume: 397,948
• 30 Day Avg. Volume: 471,387
• 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 Cap: 742.22
• Enterprise Value/Revenue: 0.38
• Enterprise Value/Gross Profit: -4.89
• Enterprise Value/Ebitda: -2.99
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 39 Underperform
• Price Target: $0.01 ▼(-45.00% Downside)

The score is primarily held down by severe financial weakness (negative margins, negative cash flow, and negative equity). Technicals add only modest support due to mixed momentum and the price remaining below key moving averages. Valuation does not offset the risk because the company is loss-making (negative P/E) and there is no dividend yield data.

Positive Factors

Market position in wind blade manufacturing

TPI's status as a leading composite wind blade manufacturer gives it durable customer access to major OEMs and exposure to secular renewable energy demand. This market position supports long-term order potential, engineering knowledge accumulation, and relevance as turbine supply chains consolidate.

Long-term OEM contracts and partnerships

Existing long-term contracts and partnerships with turbine OEMs provide structural revenue visibility and customer stickiness. These relationships reduce sales volatility, support capacity planning, and create a platform for joint product development that can sustain volumes and rebuild margins over time.

Manufacturing capabilities and scale

Advanced composite manufacturing and production techniques, combined with sizeable operations, create a durable operational moat. Scale and process know-how enable potential unit cost advantages, quicker ramp of new lines, and ability to target growth in emerging segments like offshore blades.

Negative Factors

Declining revenue trend

A persistent ~11% TTM revenue decline signals structural demand or execution issues that reduce scale economics. Lower volumes hinder fixed-cost absorption in capital-intensive blade manufacturing, limiting margin recovery, lowering reinvestment capacity, and weakening bargaining leverage with suppliers and OEMs.

Deeply negative margins

Sustained negative gross and net margins point to structural cost, pricing, or mix problems in core blade production. Negative unit economics erode cash generation, deter reinvestment, and mean management must secure structural fixes (pricing, cost cuts, product mix) to restore profitability over multiple quarters.

Weak cash flow and stressed balance sheet

Material negative OCF and a nearly 198% fall in FCF growth create ongoing liquidity pressure. Combined with negative equity and high leverage elsewhere, this raises refinancing and solvency risk, constrains capex and backlog fulfillment, and limits ability to invest for long-term competitiveness.

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 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 Money

TPI 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 Financial Statement Overview

Summary

Very weak fundamentals: declining revenue (-10.92% TTM), deeply negative profitability (gross margin -3.27%, net margin -15.28%), negative operating and free cash flow with sharply deteriorating FCF growth (-197.94% TTM), and a stressed balance sheet with negative equity indicating elevated solvency risk.

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.

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.

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.

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

• Technical Analysis Sentiment: Negative
• Last Price: 0.02
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

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 0.02, and below the 200-day MA of 0.41, 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 -12.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TPICQ.

TPI Composites Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BWEN	65 Neutral	$69.60M	14.52	8.20%	―	-1.47%	52.65%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
GTEC	62 Neutral	$13.57M	0.86	21.29%	―	-1.36%	―
JCSE	59 Neutral	$6.16M	-5.64	―	8.18%	-23.37%	-264.09%
CVV	55 Neutral	$32.05M	-159.41	-0.73%	―	19.84%	95.71%
CETY	42 Neutral	$3.63M	-0.50	-82.18%	―	-57.40%	52.85%
TPICQ	39 Underperform	$614.00K	>-0.01	―	―	-7.25%	-67.67%

TPI Composites Corporate Events

TPI Composites Board Member James Hughes Resigns

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.

The most recent analyst rating on (TPICQ) stock is a Sell with a $0.50 price target. To see the full list of analyst forecasts on TPI Composites stock, see the TPICQ Stock Forecast page.