Latest Ratios: P/E Ratio -9.0x · EV/EBITDA N/A · ROE N/A. (2002–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $98M | $1.4B | $879M | $282M | — | — | — | — | — | — | — |
| Enterprise Value | $277M | $1.6B | $1.0B | $343M | — | — | — | — | — | — | — |
| P/E Ratio → | -8.97 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.32 | 4.58 | 8.08 | 3.22 | — | — | — | — | — | — | — |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.18 | 9.37 | 3.91 | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.5% | 43.1% | 36.3% | 20.3% | 29.8% | 41.7% | 41.8% | 15.0% | 12.4% | -1.0% | 8.7% |
| Operating Margin | -2.0% | -9.0% | -63.0% | -59.8% | -31.8% | -10.6% | -17.4% | 5.5% | -25.2% | -57.1% | -16.8% |
| Net Profit Margin | -10.5% | -15.1% | -51.9% | -307.7% | -44.3% | -13.5% | -19.3% | 2.0% | -67.5% | -51.8% | -17.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | -1893.7% | -112.3% | -5.2% | -2.7% | 103.1% | -299.0% | -104.4% | -34.6% |
| ROA | -13.4% | -23.5% | -58.9% | -195.7% | -23.2% | -1.1% | -0.3% | 1.0% | -25.4% | -21.6% | -9.5% |
| ROIC | -5.3% | -30.9% | -396.1% | -51.9% | -23.5% | -1.3% | -0.5% | 5.2% | -13.5% | -31.5% | -13.2% |
| ROCE | -7.2% | -35.5% | -4331.9% | -98.6% | -27.9% | -1.3% | -0.4% | 4.1% | -13.2% | -32.0% | -11.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 0.63 | — | 1.70 | 47.50 | — | 3.01 | 1.72 |
| Debt / EBITDA | — | — | — | — | — | — | — | 7.26 | — | — | — |
| Net Debt / Equity | — | — | — | — | 0.59 | — | 1.13 | 33.46 | — | 2.38 | 1.33 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | 5.11 | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -0.34 | -0.70 | -2.36 | -5.86 | -4.61 | -4.42 | -9.86 | 4.90 | -2.39 | -12.30 | -7.62 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.73 | 0.73 | 1.20 | 0.35 | 0.92 | 0.55 | 1.49 | 1.54 | 1.52 | 1.23 | 1.76 |
| Quick Ratio | 0.70 | 0.70 | 0.93 | 0.32 | 0.70 | 0.45 | 1.09 | 1.36 | 1.09 | 0.91 | 1.39 |
| Cash Ratio | 0.06 | 0.06 | 0.17 | 0.02 | 0.07 | 0.12 | 0.44 | 0.34 | 0.44 | 0.40 | 0.39 |
| Asset Turnover | — | 1.24 | 0.75 | 1.85 | 0.29 | 2.61 | 0.02 | 0.50 | 0.51 | 0.45 | 0.56 |
| Inventory Turnover | 36.34 | 39.04 | 3.13 | 22.83 | 3.57 | 9.10 | 0.08 | 5.68 | 3.42 | 5.14 | 5.80 |
| Days Sales Outstanding | — | 99.70 | 174.23 | 109.48 | 152.19 | 47.93 | 2912.68 | 82.70 | 88.70 | 61.16 | 50.41 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $849M | $486M | $175M | $175M | $172M | $197M | $170M | $141M | $139M | $138M |
Imminent liquidity and insolvency
According to recent market data, SunPower trades at a P/S multiple of 0.34, a valuation level that suggests investors are pricing in significant terminal risk rather than growth, especially when compared to the premium multiples historically assigned to technology-integrated solar peers like Enphase Energy.
The lack of a meaningful P/E or EV/EBITDA multiple underscores the market's focus on survival rather than earnings potential. This valuation compression appears to reflect a lack of confidence in the company's ability to pivot its business model successfully while maintaining its brand premium in a saturated residential market.
Based on reported figures, SunPower's ROIC has trended into negative territory, reaching -16.6% in 2026Q1, which highlights a severe inability to generate returns on invested capital as the company struggles to transition from a manufacturing-heavy entity to a service-oriented platform.
The persistent negative ROIC suggests that the capital deployed into the dealer network and software infrastructure is failing to produce adequate returns. Investors should monitor whether this decay is structural or a temporary byproduct of the divestiture of the Maxeon manufacturing arm.
As reported in financial statements, the company's cash conversion cycle has remained volatile, fluctuating from 26 days in 2026Q1 to as high as 203 days in 2024Q2, indicating significant friction in managing receivables and inventory within the residential installation business model.
The high DSO, which reached 112 days in 2025Q3, suggests that SunPower may be facing challenges in collecting payments from its dealer network or end-customers. This inefficiency in working capital management exacerbates the company's liquidity constraints and limits its operational flexibility.
Based on the most recent quarterly filings, SunPower's current ratio has compressed to 0.71, a level that indicates the company may struggle to meet its short-term obligations without immediate external financing or a significant restructuring of its existing debt and lease commitments.
The quick ratio of 0.69 further highlights the company's reliance on inventory and other less liquid assets to cover current liabilities. This liquidity position appears highly vulnerable to any further deterioration in residential solar demand or unexpected regulatory shifts in key markets like California.
As noted in historical data, the reported gross margin of 61.4% in 2026Q1 is frequently misapplied by observers as a sign of operational strength, when it likely obscures the underlying cash burn and the high fixed costs inherent in the company's residential service model.
Investors should prioritize operating margin and free cash flow over gross margin, as the latter may be inflated by accounting treatments of lease assets and financing fees. Relying on gross margin alone ignores the substantial overhead and interest burdens that continue to drive the company's net losses.
Includes 30+ ratios · 24 years · Updated daily
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SunPower Inc.'s current P/E ratio is -9.0x. This places it at the 50th percentile of its historical range.
Based on historical data, SunPower Inc. is trading at a P/E of -9.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SunPower Inc. has 48.5% gross margin and -2.0% operating margin.