Maxeon Solar Technologies, Ltd.
MAXNQ Technology Solar
Maxeon Solar Technologies, Ltd.’s revenue for fiscal 2024 (year ended December 2024) was $509.0 million, down 54.7% from fiscal 2023. In the quarter to June 2025, revenue fell 78.7%, EPS grew 98.3% and free cash flow fell 4.20%, each against the same quarter a year earlier.
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Maxeon Solar Technologies, Ltd. (MAXNQ) Piotroski F-score
Maxeon Solar Technologies, Ltd.'s Piotroski F-score for fiscal 2024 is 1 out of 9: 1 of nine tests of profitability, leverage and efficiency passed, down from 4 in fiscal 2023.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2024 | 1 | (3.00) |
| FY2023 | 4 | (1.00) |
| FY2022 | 5 | 4.00 |
| FY2021 | 1 | (1.00) |
| FY2020 | 2 | — |
How fiscal 2024’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (89.14%) | (24.38%) | Fail | 0 |
| Positive operating cash flow | (270.16m) | (254.29m) | Fail | 0 |
| Rising return on assets | (89.14%) | (24.38%) | Fail | 0 |
| Cash flow above net income | 344.14m | 21.53m | Pass | 1 |
| Falling long-term leverage | 0.40 | 0.34 | Fail | 0 |
| Rising current ratio | 0.79 | 1.43 | Fail | 0 |
| No new shares issued | 6,399,000 | 464,000 | Fail | 0 |
| Rising gross margin | (49.00%) | 6.96% | Fail | 0 |
| Rising asset turnover | 0.74 | 0.99 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 1 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| SUNE SUNation Energy Inc. compare | 7 |
| SMXT Solarmax Technology, Inc. compare | 6 |
| SPRU Spruce Power Holding Corporation compare | 6 |
| SPIEQ SPI Energy Co., Ltd. compare | 5 |
| ASTI Ascent Solar Technologies Inc. compare | 5 |
| ZEO Zeo Energy Corp. compare | 4 |
| FTCI FTC Solar, Inc. compare | 3 |
| MAXNQ Maxeon Solar Technologies, Ltd. | 1 |
| BEEM Beam Global compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover