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Spruce Power Holding Corporation

SPRU Technology Solar

Spruce Power Holding Corporation’s revenue for fiscal 2025 (year ended December 2025) was $111.8 million, up 36.2% from fiscal 2024.

Revenue
−8.75%
EPS
+194.1%
Free cash flow
−43.4%
Total debt
−4.67%

Quarter to June 2026, against a year earlier

1.41 0.14 +11.02%
Market cap
$24.5M
P/E
0.0×
Fwd P/E
−1.0×
Dividend yield
—
F-score
6/9
Altman Z
−0.49
Beneish M
−2.59
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 2.24
Sold, $m 0.24
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 7 2 — 5 4 — — — — 1 — —
Sell 1 — — — — — 1 — — — — —
Insider Ownership 26.21%

Capital & Financial Ratios $m

Size
Market Cap 24.45
Revenue ttm 108.49
Net income ttm (6.91)
Free cash flow ttm 7.92
Net debt Q 581.03
Valuation
P/E 0.00
Forward P/E (1.02) (negative: loss-making)
Price / sales 0.22
Forward P/S Powerpack
Price / FCF 2.99
Price / book 0.19
Financial health
Current ratio Q 0.40 (below 1: weak)
Debt / equity Q 5.39 (above 2: weak)
Interest coverage Q 0.76
Growth
Revenue growth Q −8.75% (below 0%: shrinking)
Operating income growth Q +9.98% (above 0%: growing)
EPS, this year +81.23% (at or above 15%: strong)
EPS, next year A −20.31% (below 0%: weak)
Revenue, next year A +0.09%
EPS, past 5 yrs —
EPS, next 5 yrs A —

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 5.6×, against a ten-year median of 6.6×; over the ten years it ranged from −47.9× in 2022 to 82.5× in 2020.
P/S against its own 10 years 0.36%
10-year low 10-year high
P/B against its own 10 years 0.69%
10-year low 10-year high
EV/Sales against its own 10 years 0.23%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 173 109 93 82
Receivables 9 15 16 26
Inventory — — — —
Other 11 6 4 4
203 136 116 114
2023 2024 2025 Q'26
Payables 1 1 2 1
ST’ Debt 28 28 214 270
Other — — 1 0
72 60 239 289

Compound Annual Growth %

10y 5y 3y
Sales — 40.62% 68.93%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — (8.48%) (25.13%)

EPS $

Mar Jun Sep Dec Year
’26 (0.16) 0.14 — — —
’25 (0.84) (0.17) (0.05) (0.38) (1.44)
’24 (0.13) (0.45) (2.88) (0.32) (3.82)
’23 (1.04) 0.16 (1.11) (1.60) (3.59)
’22 (0.88) (0.72) (1.20) (2.40) (5.28)
’21 3.36 (0.64) (0.40) (0.88) 1.52
’20 (0.63) (1.30) (0.22) (3.59) (5.73)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 23 30 — — —
’25 24 33 31 24 112
’24 18 22 21 20 82
’23 18 23 23 16 80
’22 5 3 5 18 23
’21 1 4 3 (8) 16
’20 1 2 6 11 20
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) (3) — — —
’25 (9) (2) 11 (3) (4)
’24 (22) (5) (1) (13) (42)
’23 (8) (10) 2 (18) (34)
’22 (19) (11) (16) (17) (63)
’21 (10) (11) (14) (14) (48)
’20 (5) (3) (5) (7) (20)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) (2) — — —
’25 (8) (1) 13 (2) 2
’24 (21) (4) 1 (12) (36)
’23 (6) (8) 4 (17) (28)
’22 (19) (11) (16) (15) (61)
’21 (11) (11) (15) (15) (52)
’20 (5) (3) (5) (7) (20)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
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 — — — 7 20 16 23 80 82 112 108 +57.9% — — — —
Gross margin, % — — — (11.92) 13.49 (4.19) 57.11 52.65 51.31 65.21 66.41 +77.1 pt
EBT — — — (15) (61) 53 (53) (62) (70) (26) (7) +9.5%
EBT margin, % — — — (206.53) (297.99) 337.19 (227.12) (78.25) (85.35) (22.93) (6.31) +183.6 pt
Net income — 0 — (15) (61) 29 (93) (67) (70) (26) (7) n/m
Per share, $
Per share, $ Revenue — — — 0.72 1.92 0.90 1.30 4.34 4.45 6.19 5.83 +43.0%
Earnings — — — (1.49) (5.73) 1.68 (5.28) (3.59) (3.82) (1.44) (0.43) (0.6%)
Cash flow — — — (1.16) (1.88) (2.80) (3.56) (1.83) (2.26) (0.20) 0.11 (25.7%)
Capex — — — 0.00 (0.01) (0.21) 0.13 0.32 0.31 0.30 0.32 n/m
Free cash flow — — — (1.16) (1.89) (3.01) (3.43) (1.51) (1.95) 0.10 0.43 n/m
Book value — — — (1.37) 17.87 20.91 16.20 11.67 7.91 6.71 6.60 n/m
Shares, m — — — 10 11 17 18 18 18 18 18 +10.4%
Valuation, ×
Valuation, × P/E — — — 0.00 0.00 15.05 0.00 0.00 0.00 0.00 0.00 2.1
P/S — — — 0.00 98.67 0.00 4.65 1.08 0.67 0.82 0.22 15.1
P/B — — — 0.00 10.62 1.27 0.50 0.40 0.38 0.76 0.19 2.0
EV/Sales — — — 0.00 82.46 0.00 13.04 6.66 7.93 6.04 5.57 16.6
EV/FCF — — — (68.79) (83.75) (2.04) (6.59) (19.10) (18.05) 363.61 76.35 23.6
Cash, $m
Cash, $m Operating cash flow — — — (12) (20) (48) (63) (34) (42) (4) 2 (17.9%)
Capex — — — 0 0 (4) 2 6 6 5 6 n/m
Free cash flow — — — (12) (20) (52) (61) (28) (36) 2 8 n/m
Balance, $m
Balance, $m Working capital — — — (8) 336 358 215 132 77 (123) (175) +56.4%
Net debt — — — 1 (330) (352) 260 446 596 584 581 +184.7%
Shareholders’ equity — — — (14) 189 362 289 215 146 121 123 n/m
Returns, %
Returns, % ROA — — — (322.22) (34.02) 7.78 (15.40) (7.65) (7.86) (3.00) (0.87) +319.2 pt
ROIC — — — 0.00 0.00 (216.61) (6.76) (3.48) (4.24) 1.59 2.16 +1.6 pt
ROE — — — (7.21) (69.19) 10.46 (28.87) (26.15) (39.07) (19.47) (5.86) (12.3) pt
People
People Employees — — — — 59 177 318 142 165 159 — +21.9%
Revenue/emp, $m — — — 0.00 0.34 0.09 0.07 0.56 0.50 0.70 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Spruce Power Holding Corporation vs peers in Solar (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
PN PN Smart Energy Limited $35.1M — — — — — — — Compare
SPRU Spruce Power Holding Corporation $24.5M — (loss-making) — (loss-making) −8.75% (below 0%: shrinking) n/m −43.41% (below 0%: shrinking) 67.84% 32.21%
FTCI FTC Solar, Inc. $23.4M — (loss-making) — (loss-making) +26.06% (above 0%: growing) n/m +136.87% (above 0%: growing) 5.79% (26.03%) Compare
SMXT Solarmax Technology, Inc. $18.0M — (loss-making) — +48.82% (above 0%: growing) n/m −539.19% (below 0%: shrinking) 23.56% (43.53%) Compare
BEEM Beam Global $16.2M — (loss-making) — (loss-making) +21.02% (above 0%: growing) n/m −141.34% (below 0%: shrinking) 17.83% (34.99%) Compare
ASTI Ascent Solar Technologies Inc. $14.5M — (loss-making) — (loss-making) +460.00% (above 0%: growing) n/m +1.36% (above 0%: growing) (68.91%) (2,043.59%) Compare
ZEO Zeo Energy Corp. $14.2M — (loss-making) — −10.68% (below 0%: shrinking) n/m +75.65% (above 0%: growing) 47.15% (18.49%) Compare
SUNE SUNation Energy Inc. $13.0M — (loss-making) — (loss-making) −37.52% (below 0%: shrinking) n/m −692.81% (below 0%: shrinking) 26.09% (39.00%) Compare
MAXNQ Maxeon Solar Technologies, Ltd. $12.9M — (loss-making) — (loss-making) −78.66% (below 0%: shrinking) n/m −4.20% (below 0%: shrinking) (97.63%) (228.07%) Compare
Median of peers $15.3M — — +21.02% — −4.20% 17.83% (39.00%)

All 24 Solar stocks →

Spruce Power Holding Corporation (SPRU) Latest News

19 Aug

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13 Aug

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12 Aug

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24 Jun

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1 Jun

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stockrow.com/SPRU · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com