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Maxeon Solar Technologies (MAXN)
NASDAQ:MAXN
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Maxeon Solar Technologies
(NASDAQ:MAXN)
33Underperform
Maxeon Solar Technologies (MAXN) vs. S&P 500 (SPY)
Market Cap
$43.27M
Dividend YieldN/A
Average Volume (3M)239.67K
Price to Earnings (P/E)―
Beta (1Y)1.07
Revenue Growth-43.42%
EPS Growth-53.77%
CountryUS
Employees3,888
SectorTechnology
Sector Strength40
IndustrySolar
Share Statistics
EPS (TTM)-549.59
Shares Outstanding15,290,000
10 Day Avg. Volume146,813
30 Day Avg. Volume239,666
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.05
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$4.00Price Target Upside42.86% Upside
Rating ConsensusHold
Number of Analyst Covering0
Maxeon Solar Technologies Business Overview & Revenue Model
Company DescriptionMaxeon Solar Technologies (MAXN) is a global leader in solar innovation, designing, manufacturing, and selling advanced solar panels and energy solutions. The company operates in the renewable energy sector, offering high-efficiency solar panels under the SunPower brand, known for their durability and performance. Maxeon serves residential, commercial, and utility-scale power plant customers across various international markets, with a strong emphasis on sustainability and cutting-edge solar technology.
How the Company Makes MoneyMaxeon Solar Technologies generates revenue primarily through the sale of its solar panels and related energy solutions. The company's key revenue streams include direct sales to residential and commercial customers, as well as partnerships with distributors and installers. Maxeon also engages in strategic collaborations with various stakeholders in the renewable energy space to expand its market reach and enhance its product offerings. The company's earnings are significantly influenced by global demand for clean energy solutions, advancements in solar technology, and supportive government policies promoting renewable energy adoption.
Maxeon Solar Technologies Financial Statement Overview
Summary
Maxeon Solar Technologies faces significant financial challenges across its income statement, balance sheet, and cash flow statement. The company is encountering ongoing losses and high leverage, contributing to financial instability. Negative cash flow trends further emphasize the need for strategic changes to improve financial health.Income Statement
Maxeon Solar Technologies has experienced declining revenue in the TTM period compared to previous years, with the gross profit margin turning negative. The net profit margin is substantially negative, indicating ongoing losses. EBIT and EBITDA margins are also negative, reflecting operational challenges and inefficiencies.20
Very Negative
Balance Sheet
The company's balance sheet shows high leverage with negative stockholders' equity, resulting in an undefined debt-to-equity ratio. The equity ratio is also negative, suggesting financial instability and solvency issues. These factors collectively indicate significant financial risk.15
Very Negative
Cash Flow
The cash flow analysis reveals negative free cash flow growth, indicating deteriorating cash generation ability. The operating cash flow to net income ratio is negative, underlining the cash flow challenges in sustaining operations. The free cash flow to net income ratio also shows inefficiencies in converting earnings into cash.25
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 689.01M | 1.12B | 1.06B | 783.28M | 844.84M | 1.20B | Gross Profit |
| -236.22M | 78.11M | -47.95M | -29.01M | -9.78M | -2.31M | EBIT |
| -535.66M | -219.21M | -200.29M | -172.45M | -130.18M | -135.65M | EBITDA |
| -553.23M | -175.21M | -141.33M | -169.00M | -46.50M | -84.16M | Net Income Common Stockholders |
| -648.76M | -275.83M | -258.07M | -239.27M | -137.81M | -173.56M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 275.08M | 190.17M | 303.44M | 166.54M | 206.74M | 120.96M | Total Assets |
| 1.26B | 1.00B | 1.26B | 1.06B | 980.34M | 990.21M | Total Debt |
| 444.44M | 437.66M | 449.80M | 187.27M | 198.98M | 82.57M | Net Debt |
| 245.35M | 247.49M | 222.36M | 20.73M | -7.76M | -38.38M | Total Liabilities |
| 1.13B | 997.37M | 1.21B | 701.67M | 541.06M | 622.69M | Stockholders Equity |
| 124.84M | -1.11M | 42.44M | 349.46M | 432.64M | 362.22M |
| Cash Flow | Free Cash Flow | ||||
| -398.87M | -321.89M | -60.04M | -159.54M | -216.85M | -68.48M | Operating Cash Flow |
| -339.18M | -254.29M | 3.44M | -4.87M | -189.16M | -26.34M | Investing Cash Flow |
| 29.67M | 13.93M | -139.30M | -154.45M | -45.49M | -41.87M | Financing Cash Flow |
| 146.88M | 167.95M | 211.47M | 141.81M | 320.35M | 89.88M |
Maxeon Solar Technologies Technical Analysis
Negative
2.80
Price Trends
4.38
Negative
6.10
Negative
13.34
Negative
Market Momentum
-0.44
Negative
33.30
Neutral
11.58
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MAXN, the sentiment is Negative. The current price of 2.8 is below the 20-day moving average (MA) of 3.32, below the 50-day MA of 4.38, and below the 200-day MA of 13.34, indicating a bearish trend. The MACD of -0.44 indicates Negative momentum. The RSI at 33.30 is Neutral, neither overbought nor oversold. The STOCH value of 11.58 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MAXN.
Maxeon Solar Technologies Risk Analysis
Maxeon Solar Technologies disclosed 55 risk factors in its most recent earnings report. Maxeon Solar Technologies 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
Maxeon Solar Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $14.59B | 10.71 | 17.62% | ― | 26.75% | 55.24% | |
68 Neutral | $7.79B | 77.58 | 11.30% | ― | -41.92% | -76.24% | |
57 Neutral | $18.57B | 9.42 | -13.42% | 2.72% | 5.01% | -23.43% | |
53 Neutral | $559.18M | 14.01 | 1.34% | ― | -21.68% | -99.75% | |
51 Neutral | $906.72M | ― | -116.01% | ― | -68.86% | -4917.87% | |
46 Neutral | $1.49B | ― | -73.12% | ― | -9.83% | -71.44% | |
33 Underperform | $43.27M | ― | 307.38% | ― | -43.42% | -53.77% |
* Technology Sector Average
Performance Comparison
MAXN
Maxeon Solar Technologies
2.80
-270.20
-98.97%
CSIQ
Canadian Solar
7.58
-9.79
-56.36%
ENPH
Enphase Energy
57.27
-57.97
-50.30%
FSLR
First Solar
128.69
-50.53
-28.19%
SEDG
SolarEdge Technologies
14.71
-52.24
-78.03%
RUN
Sunrun
6.99
-4.89
-41.16%
Maxeon Solar Technologies Earnings Call Summary
Earnings Call Date: Dec 5, 2024 | % Change Since: -64.51% | Next Earnings Date: Apr 8, 2025
Earnings Call Sentiment Negative
The earnings call highlighted significant liquidity support and strategic restructuring measures, alongside expansion efforts in the U.S. market and defensive actions on intellectual property. However, these positives are overshadowed by substantial cash flow challenges, customer delays, inventory issues, and significant shareholder dilution.Highlights
Liquidity Support and Restructuring
Maxeon negotiated commitments for significant liquidity support from its largest shareholder, TZE, and restructured its 2025 convertible bonds, with the majority expected to be converted into equity, stabilizing the balance sheet.
U.S. Dealer Channel Expansion
Maxeon signed up more than 100 U.S. dealers since the last earnings call, aiming to grow its market share in the U.S. residential market, with a focus on premium products.
Patent Infringement Actions
The company initiated patent infringement cases against several competitors, intending to monetize its intellectual property in shingling, TOPCon, and IBC technologies.
Lowlights
Significant Cash Flow Challenges
Maxeon faced cash flow challenges due to Chinese module oversupply, high interest rates, policy changes, and the termination of the SunPower supply agreement.
Utility Scale Customer Delays
Two large utility scale customers experienced project delays, impacting Maxeon's production, increasing product costs, and affecting financial results for 2024.
Inventory and Demand Issues
Maxeon struggled with high inventory levels and slower-than-anticipated inventory turnover, particularly in the European market facing oversupply and price erosion.
Substantial Shareholder Dilution
The liquidity transactions with TZE are expected to result in substantial dilution for existing shareholders.
Company Guidance
During the Maxeon Solar Technologies Q1 2024 Earnings Call, the company provided guidance indicating significant financial challenges due to market dislocation, including Chinese module oversupply, high interest rates, and policy changes. As a result, Maxeon faced cash flow issues, exacerbated by the termination of a supply agreement and project delays from two major utility scale customers. To address these challenges, Maxeon secured a $97.5 million debt investment and a $100 million equity commitment from its largest shareholder, TZE, subject to regulatory approval. This financing is expected to stabilize their balance sheet, despite resulting in substantial dilution for existing shareholders. The company anticipates Q2 2024 shipments of 520 to 600 megawatts and annual revenues between $640 million and $800 million, with a focus on rebuilding its U.S. distributed generation channel and transitioning to newer technologies to return to profitability by early 2025.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.