Saturday 17 October 2026
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CSLM Acquisition Corp.
SPWR Technology Solar
CSLM Acquisition Corp.’s revenue for fiscal 2025 (year ended December 2025) was $300.0 million, up 175.9% from fiscal 2024. In the quarter to June 2026, revenue fell 17.0%, EPS grew 117.9%, free cash flow fell 499.7% and total debt fell 16.8%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
0.25
0.01
−3.85%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | — | — | — | 0.90 | 0.20 | 1.19 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | — | — | — | — | 16.00 | 3.37 | 2.50 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | — | 1 | 1 | 134 | 600 | 785 | ||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 66.48 | 0.65 | 0.18 | 0.38 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 66 | 88 | 109 | 300 | ||||
| Gross margin, % | — | — | — | — | — | — | 29.83 | 20.30 | 36.33 | 43.07 | |||||
| EBT | — | — | — | — | 0 | 5 | (28) | (96) | (54) | (43) | |||||
| EBT margin, % | — | — | — | — | 0.00 | 0.00 | (42.12) | (109.82) | (50.07) | (14.23) | |||||
| Net income | — | 0 | — | — | 0 | 5 | (29) | (270) | (56) | (45) | |||||
| Depreciation | — | — | — | — | — | — | 1 | 1 | 9 | 24 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | — | 0.00 | 0.00 | 2.95 | 3.54 | 1.63 | 3.44 | ||||
| Earnings | — | — | — | — | 0.00 | 0.61 | 0.14 | (4.94) | (0.92) | (0.52) | |||||
| Cash flow | — | — | — | — | 0.00 | (0.24) | (1.40) | (2.37) | (0.82) | (0.18) | |||||
| Capex | — | — | — | — | 0.00 | 0.00 | (0.07) | (0.08) | (0.02) | 0.00 | |||||
| Free cash flow | — | — | — | — | 0.00 | (0.24) | (1.47) | (2.45) | (0.84) | (0.18) | |||||
| Book value | — | — | — | — | 0.00 | (2.60) | 4.67 | (3.11) | (1.46) | (1.03) | |||||
| Shares, m | — | — | — | — | 8 | 8 | 23 | 25 | 67 | 87 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| P/S | — | — | — | — | — | — | 0.00 | 0.43 | 1.10 | 0.46 | |||||
| P/B | — | — | — | — | — | — | 2.16 | 0.00 | 0.00 | 0.00 | |||||
| EV/Sales | — | — | — | — | — | — | 0.00 | 0.92 | 2.33 | 0.95 | |||||
| EV/FCF | — | — | — | — | — | — | (8.53) | (1.33) | (4.53) | (17.30) | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | (2) | (32) | (59) | (55) | (15) | ||||
| Capex | — | — | — | — | — | — | (2) | (2) | (1) | — | |||||
| Free cash flow | — | — | — | — | — | (2) | (33) | (61) | (56) | (15) | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | — | 0 | (2) | (5) | (71) | 16 | (42) | ||||
| Total debt | — | — | — | — | — | — | 45 | — | 146 | 158 | |||||
| Net debt | — | — | — | — | — | 0 | 41 | (3) | 132 | 148 | |||||
| Shareholders’ equity | — | — | — | — | 0 | (22) | 105 | (77) | (98) | (90) | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | — | (8.61) | 2.96 | (10.26) | (195.68) | (58.87) | (23.52) | ||||
| ROIC | — | — | — | — | (17.63) | 0.00 | (9.07) | 0.00 | (122.64) | (28.86) | |||||
| ROE | — | — | — | — | 0.00 | (46.83) | (70.72) | (1,893.74) | 64.76 | 48.33 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
CSLM Acquisition Corp. 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 |
|---|---|---|---|---|---|---|---|---|---|
| TOYO TOYO Co., Ltd. | $176.0M | 3.5× | 6.7× | — | +666.67% (above 0%: growing) | +139.07% (above 0%: growing) | 31.28% | 19.08% | Compare |
| SPWR CSLM Acquisition Corp. | $84.2M | — (loss-making) | — (loss-making) | −17.03% (below 0%: shrinking) | n/m | −499.66% (below 0%: shrinking) | 45.50% | (42.76%) | |
| TYGO Tigo Energy, Inc. | $64.2M | 5.5× | 75.9× | +5.62% (above 0%: growing) | n/m | −81.15% (below 0%: shrinking) | 39.35% | (6.61%) | Compare |
| PN PN Smart Energy Limited | $32.9M | — | — | — | — | — | — | — | Compare |
| FTCI FTC Solar, Inc. | $30.3M | — (loss-making) | 5.1× | +30.83% (above 0%: growing) | n/m | +428.99% (above 0%: growing) | (8.54%) | (52.48%) | Compare |
| SPRU Spruce Power Holding Corporation | $28.1M | — (loss-making) | — (loss-making) | −8.75% (below 0%: shrinking) | n/m | −43.41% (below 0%: shrinking) | 67.84% | 32.21% | Compare |
| SMXT Solarmax Technology, Inc. | $24.5M | — (loss-making) | — | +48.82% (above 0%: growing) | n/m | −539.19% (below 0%: shrinking) | 23.56% | (43.53%) | Compare |
| SPIEQ SPI Energy Co., Ltd. | $24.2M | — (loss-making) | — (loss-making) | +30.66% (above 0%: growing) | n/m | +270.79% (above 0%: growing) | 13.35% | 1.72% | Compare |
| BEEM Beam Global | $21.7M | — (loss-making) | — (loss-making) | +21.02% (above 0%: growing) | n/m | −141.34% (below 0%: shrinking) | 17.83% | (34.99%) | Compare |
| Median of peers | $29.2M | — | 6.7× | +25.84% | — | −43.41% | 23.56% | (6.61%) |
CSLM Acquisition Corp. (SPWR) key facts
- Strength: CSLM Acquisition Corp.’s revenue for fiscal 2025 (year ended December 2025) was $300.0 million, up 175.9% from fiscal 2024.
- CSLM Acquisition Corp. (SPWR) is a Solar company in the Technology sector, listed on Nasdaq.
- As of October 16, 2026, SPWR traded at $0.25, a market capitalization of $84.2 million.
- Return on equity was 48.3% and debt-to-equity -4.70.
- Its Piotroski F-score is 5 out of 9 and its Altman Z-score is −1.74 (distress zone) for fiscal 2025.