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Orion Energy Systems, Inc.

OESX Industrials Electrical Equipment & Parts

Orion Energy Systems, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $86.3 million, up 8.26% from fiscal 2025.

Revenue
+8.90%
EPS
−17.7%
Free cash flow
−319.5%
Total debt
−13.9%

Quarter to September 2026, against a year earlier

13.50 5.50 −28.95%
Market cap
$55.4M
P/E
0.0×
Fwd P/E
23.6×
Dividend yield
—
F-score
6/9
Altman Z
−0.85
Beneish M
−2.42
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.05
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — — 1 — 1 — — —
Sell — — — — — — — — — — — —
Insider Ownership 16.79%

Capital & Financial Ratios $m

Size
Market Cap 55.41
Revenue ttm 94.25
Net income ttm (0.19)
Free cash flow ttm (4.24)
Net debt Q 4.79
Valuation
P/E 0.00
Forward P/E 23.60
Price / sales 0.59
Forward P/S Powerpack
Price / FCF 0.00
Price / book 3.01
Financial health
Current ratio Q 1.75 (at or above 1.5: strong)
Debt / equity Q 0.46 (at or below 0.5: strong)
Interest coverage Q (5.73)
Growth
Revenue growth Q +8.90% (above 0%: growing)
Operating income growth Q −203.31% (below 0%: shrinking)
EPS, this year +155.81% (at or above 15%: strong)
EPS, next year A +95.30% (at or above 15%: strong)
Revenue, next year A +17.95% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +25.00% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 0.5×; over the ten years it ranged from 0.2× in 2018 to 3.2× in 2020.
P/S against its own 10 years 50.97%
10-year low 10-year high
P/B against its own 10 years 76.24%
10-year low 10-year high
EV/Sales against its own 10 years 66.34%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 5 6 3 4
Receivables 19 16 23 21
Inventory 18 11 10 10
Other — — — —
45 35 38 36
2024 2025 2026 Q'26
Payables 18 13 15 10
ST’ Debt 0 0 0 0
Other — — — —
28 27 27 21

Compound Annual Growth %

10y 5y 3y
Sales 2.47% (5.88%) 3.70%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (9.67%) (22.13%) (20.62%)

Earnings Trends EPS, adjusted, against the consensus

Q1 FY26 Estimate −0.01 Actual 0.47

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY25 −0.72 −0.17 Beat by 0.55
Q3 FY25 −0.18 0.04 Beat by 0.22
Q4 FY26 0.14 0.04 Miss by 0.10
Q1 FY26 −0.01 0.47 Beat by 0.48
Q2 FY26 0.04 — Reports 5 November 2026

EPS $

Jun Sep Dec Mar Year
’26 0.47 (0.20) — — —
’26 (0.37) (0.17) 0.04 (0.39) (0.89)
’25 (1.20) (1.10) (0.46) (0.90) (3.60)
’24 (2.10) (1.40) (0.70) 0.50 (3.60)
’23 (0.90) (0.80) (7.50) (1.60) (10.80)
’22 0.80 1.20 0.40 (0.40) 1.90
’21 (0.70) 0.60 1.40 7.10 8.30
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 26 22 — — —
’26 20 20 21 26 86
’25 20 19 20 21 80
’24 18 21 26 26 91
’23 18 18 20 22 77
’22 35 37 31 22 124
’21 11 26 44 35 117
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 1 (3) — — —
’26 (1) 2 (1) (1) (1)
’25 (3) 0 4 (1) 1
’24 (7) (4) 1 0 (10)
’23 (5) (2) 1 3 (2)
’22 (3) (1) 6 (2) 0
’21 (8) (6) 8 7 2
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 1 (3) — — —
’26 (1) 2 (1) (2) (1)
’25 (3) 1 4 (1) 1
’24 (8) (4) 1 0 (11)
’23 (5) (2) 1 3 (3)
’22 (3) (1) 6 (2) (1)
’21 (8) (7) 8 7 1
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 70 60 66 151 117 124 77 91 80 86 94 +2.3% 102 112 130 +14.5%
Gross margin, % 24.69 24.33 22.13 24.61 25.78 27.26 22.63 23.09 25.38 32.55 33.05 +7.9 pt
EBT (13) (13) (7) 13 7 8 (16) (12) (12) (3) 0 (14.4%)
EBT margin, % (17.87) (21.80) (10.13) 8.37 5.58 6.63 (21.15) (12.84) (14.75) (3.60) (0.20) +14.3 pt
Net income (12) (13) (7) 12 26 6 (34) (12) (12) (3) 0 (14.0%)
Per share, $
Per share, $ Revenue 24.94 20.95 22.34 50.11 38.14 40.10 24.41 27.88 24.28 24.24 23.00 (0.3%)
Earnings (4.40) (4.60) (2.30) 4.10 8.50 2.00 (10.80) (3.60) (3.60) (0.89) (0.06) (16.3%)
Cash flow (0.68) (1.53) (1.72) 6.76 0.56 (0.04) (0.72) (3.11) 0.18 (0.30) (1.08) (8.5%)
Capex 0.59 (0.20) (0.15) (0.31) (0.31) (0.13) (0.19) (0.22) 0.04 (0.02) 0.04 n/m
Free cash flow (0.09) (1.74) (1.87) 6.45 0.26 (0.17) (0.91) (3.33) 0.22 (0.33) (1.03) +15.4%
Book value 12.59 8.14 6.11 10.31 18.96 20.99 10.49 6.94 3.62 4.67 4.49 (10.4%)
Shares, m 3 3 3 3 3 3 3 3 3 4 4 +2.6%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 9.02 8.19 14.00 0.00 0.00 0.00 0.00 0.00 3.1
P/S 0.79 0.40 0.41 0.74 1.82 0.70 0.83 0.32 0.30 0.36 0.59 0.7
P/B 1.57 1.02 1.49 3.59 3.67 1.33 1.94 1.27 1.99 1.87 3.01 2.0
EV/Sales 0.65 0.31 0.42 0.61 1.66 0.58 0.75 0.37 0.35 0.39 0.64 0.6
EV/FCF (178.79) (3.71) (4.95) 4.78 247.61 (139.54) (20.23) (3.09) 38.54 (29.06) (14.17) (8.8)
Cash, $m
Cash, $m Operating cash flow (2) (4) (5) 20 2 0 (2) (10) 1 (1) (4) (6.1%)
Capex 2 (1) 0 (1) (1) 0 (1) (1) 0 0 0 n/m
Free cash flow 0 (5) (6) 19 1 (1) (3) (11) 1 (1) (4) +18.4%
Balance, $m
Balance, $m Working capital 25 13 14 28 26 33 26 17 9 11 15 (8.9%)
Net debt (10) (5) 1 (19) (19) (14) (6) 5 4 3 5 n/m
Shareholders’ equity 35 23 18 31 58 65 33 23 12 17 18 (8.1%)
Returns, %
Returns, % ROA (18.49) (24.45) (13.17) 19.38 31.60 6.78 (43.36) (17.32) (20.41) (6.08) (0.39) +12.4 pt
ROIC (31.18) (44.84) (20.67) 66.17 11.03 10.35 (36.63) (24.70) (40.79) (5.31) 2.67 +25.9 pt
ROE (30.18) (44.60) (32.25) 50.86 58.66 9.89 (69.83) (41.84) (68.56) (22.19) (1.28) +8.0 pt
People
People Employees 264 214 321 181 213 314 265 260 182 174 — (4.5%)
Revenue/emp, $m 0.27 0.28 0.20 0.83 0.55 0.40 0.29 0.35 0.44 0.50 — +7.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Orion Energy Systems, Inc. vs peers in Electrical Equipment & Parts (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SKYX SKYX Platforms Corp. $94.0M — (loss-making) — (loss-making) +9.58% (above 0%: growing) n/m −56.37% (below 0%: shrinking) 28.86% (27.98%) Compare
CBAT China BAK Battery, Inc. $90.4M — (loss-making) — (loss-making) +99.26% (above 0%: growing) n/m +147.06% (above 0%: growing) 1.49% (13.93%) Compare
RFIL RF Industries, Ltd. $71.1M 29.3× 22.6× +21.07% (above 0%: growing) +225.00% (above 0%: growing) +453.33% (above 0%: growing) 35.63% 7.34% Compare
WBX Wallbox N.V. $66.4M — — — n/m +6,958.18% (above 0%: growing) 39.84% (47.80%) Compare
NMAD Nomad Power Solutions, Inc. $56.2M — (loss-making) — — n/m −230.63% (below 0%: shrinking) — 0.00% Compare
NVX NOVONIX Limited Sponsored ADR $55.6M — (loss-making) — (loss-making) +76.13% (above 0%: growing) −297.33% (below 0%: shrinking) −1.34% (below 0%: shrinking) (431.26%) 0.00% Compare
OESX Orion Energy Systems, Inc. $55.4M — (loss-making) 23.6× +8.90% (above 0%: growing) n/m −319.53% (below 0%: shrinking) 28.68% (3.38%)
TGEN Tecogen Inc. $46.2M — (loss-making) — (loss-making) −21.23% (below 0%: shrinking) n/m +11.86% (above 0%: growing) 37.83% (37.42%) Compare
ZOOZ ZOOZ Strategy Ltd. $41.6M 47.3× — — −300.00% (below 0%: shrinking) +53.24% (above 0%: growing) — — Compare
Median of peers $61.3M — — +21.07% −297.33% +32.55% 32.25% (13.93%)

All 55 Electrical Equipment & Parts stocks →

Pay and ownership Proxy statement filed 23 June 2026

Ownership

Directors and executive officers, together 5.34%
North Star Investment Management Corporation 12.96%
Tieton Capital Management, LLC 6.58%
Kathleen M. Connors 6.55%
Grace & White, Inc. 5.52%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Orion Energy Systems, Inc. (OESX) Latest News

5 Nov

Impact 3 · · GlobeNewswire

22 Oct

Impact 3 · · GlobeNewswire

21 Oct

Impact 4 · · MarketBeat

20 Oct

Impact 3 · · GlobeNewswire

6 Oct

Impact 3 · · GlobeNewswire

20 Sep

Impact 4 · · Insider Monkey

15 Sep

Impact 4 ·

8 Sep

Impact 4 ·

19 Aug

Impact 4 · · MarketBeat

12 Aug

Impact 3 · · The Motley Fool transcript

6 Aug

Impact 4 · · MarketBeat

5 Aug

Impact 4 · transcript
Impact 4 · · InvestorsHub
Impact 4 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·

21 Jul

Impact 4 ·

13 Jun

Impact 4 ·

8 Jun

Impact 4 · · GlobeNewswire

4 Jun

Impact 3 · · GuruFocus.com
Impact 3 · · Moby transcript
Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

19 May

Impact 3 · · InvestorsHub
Impact 3 · · GlobeNewswire

3 May

Impact 3 · · Simply Wall St.

15 Apr

Impact 4 · · GlobeNewswire

31 Mar

Impact 5 · · The Wall Street Journal

24 Mar

Impact 4 ·

17 Mar

Impact 4 · · GlobeNewswire
stockrow.com/OESX · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com