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Pioneer Power Solutions, Inc.

PPSI Industrials Electrical Equipment & Parts

Pioneer Power Solutions, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $27.6 million, up 20.8% from fiscal 2024.

Revenue
−40.0%
EPS
−58.3%
Free cash flow
+50.6%
Total debt
−44.1%

Quarter to June 2026, against a year earlier

2.23 0.17 −7.08%
Market cap
$24.7M
P/E
0.0×
Fwd P/E
−4.2×
Dividend yield
0.00%
F-score
3/9
Altman Z
5.76
Beneish M
−1.46
Dividend safety
20/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 22.49%

Capital & Financial Ratios $m

Size
Market Cap 24.70
Revenue ttm 21.80
Net income ttm (8.31)
Free cash flow ttm (7.68)
Net debt Q (10.51)
Valuation
P/E 0.00
Forward P/E (4.23) (negative: loss-making)
Price / sales 1.13
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.00
Financial health
Current ratio Q 4.11 (at or above 1.5: strong)
Debt / equity Q 0.01 (at or below 0.5: strong)
Interest coverage Q (31.04)
Growth
Revenue growth Q −40.04% (below 0%: shrinking)
Operating income growth Q −17.39% (below 0%: shrinking)
EPS, this year −3.45% (below 0%: weak)
EPS, next year A +71.67% (at or above 15%: strong)
Revenue, next year A −12.98% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +44.22% (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 0.7×, against a ten-year median of 1.0×; over the ten years it ranged from −37.5× in 2019 to 4.2× in 2021.
P/S against its own 10 years 43.63%
10-year low 10-year high
P/B against its own 10 years 9.09%
10-year low 10-year high
EV/Sales against its own 10 years 21.31%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
—
Growth, 2019–21
−100.0%/yr
  1. 1.37 ’19
  2. 0.00 ’20 −100
  3. 0.00 ’21
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 4 42 15 11
Receivables 1 8 3 4
Inventory 3 6 6 7
Other 14 — — —
28 57 26 23
2023 2024 2025 Q'26
Payables 8 5 4 4
ST’ Debt — — — —
Other 9 3 — —
18 30 5 6

Compound Annual Growth %

10y 5y 3y
Sales (12.62%) 7.23% 2.20%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.68% 16.17% 24.61%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.16 Actual −0.19

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY25 −0.18 −0.11 Beat by 0.07
Q3 FY25 −0.16 −0.16 Met by 0.00
Q1 FY26 −0.12 −0.23 Miss by 0.11
Q2 FY26 −0.16 −0.19 Miss by 0.03
Q3 FY26 −0.13 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.23) (0.19) — — —
’25 (0.09) (0.12) (0.21) (0.12) (0.54)
’24 (0.10) (0.21) (0.10) 3.32 2.90
’23 0.08 0.08 0.10 (0.44) (0.19)
’22 (0.08) (0.26) (0.13) (0.09) (0.56)
’21 0.04 (0.08) (0.05) (0.16) (0.24)
’20 (0.33) (0.08) 0.15 (0.09) (0.34)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 4 5 — — —
’25 7 8 7 6 28
’24 3 3 6 10 23
’23 10 12 11 8 11
’22 6 5 6 8 26
’21 4 6 6 3 18
’20 5 5 4 5 19
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) (3) — — —
’25 2 (5) (1) (1) (6)
’24 (2) 1 (3) (2) (6)
’23 2 (1) (1) (4) (4)
’22 2 (4) (2) (2) (6)
’21 (1) 1 (1) (2) (3)
’20 (1) 0 0 (2) (4)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) (3) — — —
’25 1 (6) (2) (2) (8)
’24 (2) 0 (3) (5) (10)
’23 1 (2) (2) (4) (6)
’22 2 (4) (3) (3) (7)
’21 (1) 0 (1) (2) (3)
’20 (1) 0 0 (2) (4)
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 December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 100 114 20 21 19 18 26 11 23 28 22 (13.3%) 24 33 44 +17.0%
Gross margin, % 22.23 15.51 9.41 5.66 4.52 7.61 10.92 20.02 24.10 12.40 16.19 (9.8) pt
EBT 2 (6) (10) (11) (3) (2) (5) (6) (5) (6) (8) n/m
EBT margin, % 2.39 (5.41) (50.21) (52.27) (15.30) (11.92) (20.91) (56.49) (20.84) (23.07) (35.03) (25.5) pt
Net income (1) (9) (6) (1) (3) (2) (5) (2) 32 (6) (8) +21.2%
Per share, $
Per share, $ Revenue 11.45 13.12 2.31 2.36 2.23 2.07 2.66 1.12 2.13 2.49 1.96 (15.6%)
Earnings (0.12) (1.07) (0.65) (0.12) (0.34) (0.24) (0.56) (0.19) 2.97 (0.54) (0.76) +18.2%
Cash flow (1.09) 0.20 0.25 (0.64) (0.41) (0.36) (0.59) (0.39) (0.58) (0.52) (0.49) (7.8%)
Capex (0.07) (0.16) 0.02 (0.02) 0.00 (0.03) (0.16) (0.25) (0.35) (0.24) (0.20) +14.5%
Free cash flow (1.16) 0.03 0.27 (0.66) (0.41) (0.39) (0.75) (0.65) (0.93) (0.76) (0.69) (4.5%)
Book value 3.01 2.01 1.37 1.93 1.59 2.21 1.56 1.44 3.30 2.64 2.23 (1.5%)
Shares, m 9 9 9 9 9 9 10 10 11 11 11 +2.7%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.39 0.00 0.00 0.1
P/S 0.52 0.58 2.28 0.96 1.73 3.63 1.00 1.50 1.94 1.90 1.13 1.6
P/B 1.99 3.75 3.83 1.18 2.44 3.40 1.71 4.40 1.25 1.79 1.00 2.6
EV/Sales 0.79 0.82 3.49 0.63 1.42 3.02 0.66 1.43 0.14 1.38 0.67 1.4
EV/FCF (7.84) 344.76 30.16 (2.26) (7.33) (16.11) (2.35) (9.31) (0.32) (4.48) (1.89) 32.5
Cash, $m
Cash, $m Operating cash flow (9) 2 2 (6) (4) (3) (6) (4) (6) (6) (5) (5.3%)
Capex (1) (1) 0 0 — 0 (2) (2) (4) (3) (2) +17.7%
Free cash flow (10) 0 2 (6) (4) (3) (7) (6) (10) (8) (8) (1.9%)
Balance, $m
Balance, $m Working capital 2 (2) (5) 11 8 19 12 9 27 21 17 +26.7%
Net debt 27 28 24 (9) (6) (11) (10) (3) (42) (15) (11) n/m
Shareholders’ equity 26 18 12 17 14 20 15 14 35 29 25 +1.3%
Returns, %
Returns, % ROA (1.47) (12.17) (7.72) (2.04) (12.00) (8.81) (17.12) (5.55) 64.37 (11.83) (23.52) (10.4) pt
ROIC 4.20 (4.55) (15.72) (91.06) (34.75) (28.51) (68.85) (40.29) 0.00 (28.28) (28.80) (32.5) pt
ROE (3.97) (42.17) (38.40) (7.17) (19.45) (12.97) (31.23) (12.92) 128.33 (18.53) (28.75) (14.6) pt
People
People Employees 415 404 365 95 94 91 99 143 60 58 — (19.6%)
Revenue/emp, $m 0.24 0.28 0.06 0.22 0.21 0.20 0.26 0.08 0.38 0.48 — +7.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

Pioneer Power Solutions, 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
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
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
STI Solidion Technology Inc. $37.3M — (loss-making) — +3,022.50% (above 0%: growing) n/m −278.65% (below 0%: shrinking) 100.00% (1,094.72%) Compare
PPSI Pioneer Power Solutions, Inc. $24.7M — (loss-making) — (loss-making) −40.04% (below 0%: shrinking) n/m +50.61% (above 0%: growing) 19.61% (39.95%)
APWC Asia Pacific Wire & Cable Corporation Limited $22.9M 4.0× 7.6× +7.68% (above 0%: growing) −66.67% (below 0%: shrinking) −16.24% (below 0%: shrinking) 8.06% 2.49% Compare
XCH XCHG Limited $14.1M — — — n/m — 46.15% (10.26%) Compare
Median of peers $43.9M — — +41.91% −297.33% −1.34% 38.84% (10.26%)

All 55 Electrical Equipment & Parts stocks →

Pay and ownership Proxy statement filed 22 September 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 687.50k 687.50k 233.86
2024 2.72m 2.72m 204.19
2023 1.20m 1.23m 253.36

Ownership

Directors and executive officers, together 26.60%
Nathan J. Mazurek 19.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. 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

Pioneer Power Solutions, Inc. (PPSI) Latest News

17 Aug

Impact 3 ·

18 May

Impact 4 · · Business Wire
Impact 3 · · Business Wire

14 Apr

Impact 4 · · MarketBeat

8 Apr

Impact 3 · · Business Wire

24 Feb

Impact 3 · · Business Wire

9 Jan

Impact 4 · · Zacks

31 Dec

Impact 4 · · ZacksZacksZacks

30 Dec

Impact 3 · · Simply Wall St.

9 Dec

Impact 4 · · Business Wire

3 Dec

Impact 4 · · Insider Monkey

2 Dec

Impact 4 · · Business Wire

19 Nov

Impact 4 · · Zacks

14 Nov

Impact 4 · · GuruFocus.com
Impact 3 · · Moby

13 Nov

Impact 4 · · The Motley Fool transcript
Impact 3 · · Business Wire

28 Oct

Impact 4 · · Business Wire

29 Sep

Impact 4 · · Insider Monkey

25 Sep

Impact 4 · · Business Wire

9 Sep

Impact 4 ·

3 Sep

Impact 3 · · Business Wire

15 Aug

Impact 4 ·
Impact 3 · · Associated Press Finance

14 Aug

Impact 4 · · Business Wire

25 Jun

Impact 4 ·

24 Jun

Impact 4 · · Business Wire

20 May

Impact 4 · · Thomson Reuters StreetEvents transcript
Impact 4 · · GuruFocus.com

15 May

Impact 4 ·
stockrow.com/PPSI · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com