MAXN (MAXN)
Maxeon Solar Technologies, Ltd.
NASDAQ:MAXNEnergy · Solar
CLOSED
Mkt Cap-
Float22.2M
O/S-
VOL3.27M sh
$ Vol$2.65M
Inst Own-
Dilution
Financials Summary
Revenue$509.05M
Net Income-$614.3M
Total Assets$376.27M
Free Cash Flow-$322.31M
Debt & Equity
Debt 1765%
Total Debt$311.49M
Total Equity-$293.84M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
- 1:100Reverse splitOct 9, 2024100 shares → 1
Balance Sheet Details
Assets$376.27M
Liabilities$664.64M
Accounts Receivable$12.56M
Accounts Payable$62.54M
Inventory$40.22M
PP&E (Net)$100.81M
Goodwill$0
Intangible Assets$523K
Income Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $509.05M | $1.12B | $1.06B | $783.28M | $844.84M | $1.2B | $912.31M |
| YoY Growth | -54.7% | 5.9% | 35.3% | -7.3% | -29.5% | 31.3% | - |
| Cost of Revenue | $758.46M | $1.04B | $1.11B | $812.29M | $854.62M | $1.2B | $1.36B |
| Gross Profit | -$249.41M | $78.11M | -$47.95M | -$29.01M | -$9.78M | -$2.31M | -$449.93M |
| Gross Margin | -49.0% | 7.0% | -4.5% | -3.7% | -1.2% | -0.2% | -49.3% |
| Research and Development | $37.55M | $45.7M | $49.68M | $46.53M | $34.19M | $37M | $50.03M |
| Selling, General, and Administrative | $158.32M | $126.17M | $100.55M | $88.82M | $86.2M | $96.86M | $82.04M |
| Other | $131.35M | $125.45M | $2.12M | $8.08M | $0 | $0 | $0 |
| Total Operating Expenses | $327.23M | $297.32M | $152.35M | $143.43M | $120.4M | $133.85M | $132.07M |
| Operating Income (EBIT) | -$576.64M | -$219.21M | -$200.29M | -$172.45M | -$130.18M | -$135.65M | -$589.77M |
| Operating Margin | -113.3% | -19.5% | -18.9% | -22.0% | -15.4% | -11.3% | -64.6% |
| Interest Expense | $45.37M | $42.44M | $30.34M | $28.14M | $31.86M | $25.83M | $25.89M |
| Interest Income | $2.09M | $9.39M | $2.53M | $290K | $0 | $0 | $0 |
| Other Income (Expense) | -$19.98M | -$57.13M | -$34.66M | -$83.1M | $1.29M | -$27.79M | -$12.42M |
| Income Before Tax (EBT) | -$596.62M | -$276.34M | -$234.96M | -$255.54M | -$128.88M | -$163.44M | -$602.19M |
| Income Tax Expense | $17.95M | -$626K | $32.19M | $203K | $12.13M | $10.12M | -$1.05M |
| Net Income | -$614.3M | -$275.83M | -$267.42M | -$254.52M | -$142.63M | -$178.9M | -$603.81M |
| Net Income Margin | -120.7% | -24.6% | -25.2% | -32.5% | -16.9% | -14.9% | -66.2% |
| Supplementary Data | |||||||
| EPS | -73.78 | -594.63 | -6.31 | -6.39 | -5.62 | -8.16 | -20.36 |
| Diluted EPS | -73.78 | -5.36 | -6.31 | -6.39 | -5.62 | -5.85 | -20.36 |
| Weighted Average OS | 8.33M | 463,870 | 40.92M | 37.46M | 24.50M | 21.26M | 29.66M |
| EBITDA | -$507.79M | -$175.21M | -$141.33M | -$169M | -$46.5M | -$84.16M | -$493.4M |
| EBITDA Margin | -99.8% | -15.6% | -13.3% | -21.6% | -5.5% | -7.0% | -54.1% |
Balance Sheet
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $28.89M | $190.17M | $227.44M | $166.54M | $206.74M | $120.96M | $101.71M |
| Short-Term Investments | $0 | $0 | $76M | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $28.89M | $190.17M | $303.44M | $166.54M | $206.74M | $120.96M | $101.71M |
| Accounts Receivable | $12.56M | $92.21M | $114.46M | $80.27M | $102.12M | $179.2M | $97.08M |
| Inventory | $40.22M | $308.95M | $303.23M | $263.87M | $169.24M | $194.85M | $222.82M |
| Other Current Assets | $176.47M | $9.64M | $43.55M | $6.27M | $25.41M | $15.72M | $8.51M |
| Total Current Assets | $266.02M | $619.02M | $791.05M | $533.12M | $547.2M | $618.12M | $467.97M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $100.81M | $302.85M | $398.31M | $402.03M | $260.39M | $299.96M | $285.74M |
| Goodwill | $0 | $7.88M | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $523K | $8.08M | $5.22M | $420K | $456K | $5.09M | $12.16M |
| Long-Term Investments | $4M | $4M | $7.06M | $15.23M | $29.71M | $34.39M | $47.13M |
| Deferred Tax Assets | $0 | $0 | $10.35M | $5.18M | $9.62M | $8.93M | $10.41M |
| Other Long-Term Assets | $4.92M | $60.18M | $48.43M | $100.56M | $132.97M | $23.72M | $147.9M |
| Total Long-Term Assets | $110.26M | $382.99M | $469.37M | $523.42M | $433.15M | $372.09M | $503.33M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $376.27M | $1B | $1.26B | $1.06B | $980.34M | $990.21M | $971.3M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $62.54M | $153.02M | $247.87M | $270.48M | $159.18M | $286.46M | $199.43M |
| Short-Term Debt | $462K | $25.43M | $50.53M | $25.36M | $47.78M | $59.77M | $39.71M |
| Current Income Tax Payable | $1.6M | $4.57M | $21.99M | $8.98M | $27.45M | $20.22M | $21.57M |
| Current Unearned Revenue | $74.31M | $134.17M | $139.27M | $44.06M | $20.76M | $78.94M | $62.81M |
| Other Current Liabilities | $122.82M | $75.52M | $47.27M | $59.91M | $65.13M | $59.81M | $65.65M |
| Total Current Liabilities | $338.51M | $431.94M | $576.23M | $421.04M | $308.13M | $520.72M | $398.96M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $274.5M | $386.76M | $380.26M | $145.99M | $135.07M | $1.49M | $0 |
| Long-Term Unearned Revenue | $3.33M | $113.56M | $161.68M | $58.99M | $33.08M | $35.62M | $45.28M |
| Long-Term Deferred Tax Liabilities | $5.31M | $7M | $14.91M | $1.15M | $18.06M | $337K | $866K |
| Other Long-Term Liabilities | $15.55M | $38.49M | $63.66M | $61.04M | $33.69M | $46.19M | $80.51M |
| Total Long-Term Liabilities | $326.13M | $565.43M | $636.12M | $280.63M | $232.92M | $101.97M | $136.99M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $664.64M | $997.37M | $1.21B | $701.67M | $541.06M | $622.69M | $535.96M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $369.84M | $438.21M |
| Retained Earnings | -$1.41B | -$796.09M | -$520.26M | -$262.96M | -$8.44M | $0 | $0 |
| Comprehensive Income & Other | -$20.49M | -$16.38M | -$22.11M | -$11.84M | -$10.39M | -$7.62M | -$4.01M |
| Other Stockholders' Equity | $1.12B | $794.98M | $562.7M | $612.42M | $441.08M | -$7.62M | -$4.01M |
| Total Equity | -$293.84M | -$1.11M | $42.44M | $349.46M | $432.64M | $362.22M | $434.2M |
| Minority Interest | $5.48M | $5.75M | $5.63M | $5.42M | $6.64M | $5.3M | $1.15M |
| Total Liabilities and Equity | $370.8M | $996.26M | $1.25B | $1.05B | $973.7M | $984.91M | $970.16M |
| Supplementary Data | |||||||
| Total Debt | $311.49M | $437.66M | $449.8M | $187.27M | $198.98M | $82.57M | $41.85M |
| Net Debt | $282.6M | $247.49M | $222.36M | $20.73M | -$7.76M | -$38.38M | -$59.86M |
Cash Flow Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | |||||||
| Net Income | -$614.57M | -$275.71M | -$267.15M | -$255.75M | -$141.01M | -$178.9M | -$604.08M |
| Depreciation & Amortization | $43.46M | $55.88M | $56.74M | $42.21M | $47.33M | $53.45M | $82.89M |
| Deferred Income Tax | -$355K | $2.44M | $8.6M | $5.59M | -$1.33M | $804K | -$2.24M |
| Stock-Based Compensation | $28.7M | $18.33M | $14.58M | $7.23M | $7.25M | $7.13M | $8.58M |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $42.56M | -$8.33M | -$15.33M | $38.27M | $71.23M | -$77.57M | -$31.3M |
| Inventory | $50.06M | -$43.47M | -$106.62M | -$43.17M | $28.68M | $28.41M | $18.08M |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$162.9M | -$119.83M | $280.79M | $133.99M | -$183.27M | $110.89M | -$13.2M |
| Total Working Capital Change | -$70.29M | -$171.63M | $158.84M | $129.09M | -$83.36M | $61.74M | -$26.42M |
| Other Non-Cash Items | $342.9M | $116.41M | $31.82M | $66.77M | -$18.04M | $29.43M | $384.44M |
| Net Cash from Operating | -$270.16M | -$254.29M | $3.44M | -$4.87M | -$189.16M | -$26.34M | -$156.82M |
| Investing Activities | |||||||
| Capital Expenditures | -$52.15M | -$67.45M | -$63.34M | -$154.61M | -$27.69M | -$41.91M | -$39.62M |
| Acquisitions | $24M | $0 | $0 | $0 | -$26.78M | $0 | -$13.35M |
| Purchases of Investments | $0 | -$60M | -$76M | $0 | -$1.34M | $0 | $0 |
| Sales of Investments | $1.33M | $136M | $0 | $0 | $6.57M | $0 | $0 |
| Other Investing Activities | $1.58M | $5.38M | $36K | $163K | $3.75M | $34K | $0 |
| Net Cash from Investing | -$25.24M | $13.93M | -$139.3M | -$154.45M | -$45.49M | -$41.87M | -$52.97M |
| Financing Activities | |||||||
| Debt Repaid | -$44.79M | $25.54M | -$211.79M | $23.63M | -$199.46M | $2.52M | $5.26M |
| Common Stock Issuance | $96.45M | $193.49M | $0 | $169.68M | $296.76M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | -$134M | $0 | $0 |
| Other Financing Activities | $0 | $0 | -$321K | -$4.25M | -$41.88M | $92.41M | $171.09M |
| Net Cash from Financing | $141.23M | $167.95M | $211.47M | $141.81M | $320.35M | $89.88M | $165.82M |
| Forex Effect | -$10.33M | -$32K | $119K | $166K | $77K | $381K | $61K |
| Net Change in Cash | -$164.5M | -$72.45M | $75.73M | -$17.34M | $85.77M | $22.05M | -$43.91M |
| Supplementary Data | |||||||
| Operating Cash Flow | -$270.16M | -$254.29M | $3.44M | -$4.87M | -$189.16M | -$26.34M | -$156.82M |
| Capital Expenditure | -$52.16M | -$67.6M | -$63.48M | -$154.67M | -$27.69M | -$42.14M | -$39.62M |
| Free Cash Flow | -$322.31M | -$321.89M | -$60.04M | -$159.54M | -$216.85M | -$68.48M | -$196.44M |
| Cash at Beginning | $195.51M | $267.96M | $192.23M | $209.57M | $123.8M | $101.75M | $145.66M |
| Cash at End | $31.01M | $195.51M | $267.96M | $192.23M | $209.57M | $123.8M | $101.75M |