stockrowSUNation Energy Inc.
SUNE Technology Solar
SUNation Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $71.9 million, up 26.5% from fiscal 2024.
- Revenue
- −37.5%
- EPS
- +83.4%
- Free cash flow
- −692.8%
- Total debt
- −29.9%
Quarter to June 2026, against a year earlier
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SUNation Energy Inc. (SUNE) Altman Z-score
SUNation Energy Inc.'s Altman Z-score for fiscal 2025 is −0.09, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.09 | 1.26 |
| FY2024 | −1.36 | (1.61) |
| FY2023 | 0.25 | 0.50 |
| FY2022 | −0.25 | 9.52 |
| FY2021 | −9.77 | (22.98) |
| FY2020 | 13.21 | (0.21) |
| FY2019 | 13.42 | 8.44 |
| FY2018 | 4.98 | (1,276,884.68) |
| FY2017 | 1276889.65 | 1,726.11 |
| FY2016 | 1275163.54 | (275,367.21) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.02 | — | 0.03 | |
| Retained earnings / total assets | (1.11) | — | −1.56 | |
| EBIT / total assets | (0.03) | — | −0.11 | |
| Market value of equity / total liabilities | 0.11 | — | 0.06 | |
| Sales / total assets | 1.49 | — | 1.49 | |
| Altman Z-score | Distress zone | −0.09 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −2.65 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| PN PN Smart Energy Limited compare | 2.3× |
| SUNE SUNation Energy Inc. | −0.1× |
| SPRU Spruce Power Holding Corporation compare | −0.5× |
| ZEO Zeo Energy Corp. compare | −0.8× |
| SMXT Solarmax Technology, Inc. compare | −0.9× |
| FTCI FTC Solar, Inc. compare | −4.6× |
| BEEM Beam Global compare | −4.7× |
| MAXNQ Maxeon Solar Technologies, Ltd. compare | −9.1× |
| ASTI Ascent Solar Technologies Inc. compare | −112× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets