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Friday 6 November 2026
Export TGEN’s income statement to Excel — free account
Tecogen Inc.
TGEN Industrials Electrical Equipment & Parts
Tecogen Inc.’s revenue for fiscal 2025 (year ended December 2025) was $27.1 million, up 19.7% from fiscal 2024.
- Revenue
- −21.2%
- EPS
- −16.7%
- Free cash flow
- +11.9%
- Total debt
- −43.2%
Quarter to June 2026, against a year earlier
1.70
0.17
+11.11%
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Analyst price targets
Free accountTen 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 | 24 | 33 | 36 | 33 | 28 | 24 | 25 | 25 | 23 | 27 | 25 | +1.1% | 26 | 59 | — | +47.7% | |
| Gross margin, % | 37.98 | 39.02 | 37.88 | 37.33 | 38.32 | 47.49 | 44.26 | 40.58 | 43.64 | 36.29 | 36.22 | (1.7) pt | ||||||
| EBT | (1) | 0 | (6) | (5) | (6) | 4 | (2) | (4) | (5) | (8) | (10) | +24.3% | ||||||
| EBT margin, % | (4.74) | 0.29 | (16.08) | (14.30) | (21.90) | 15.41 | (9.52) | (17.86) | (20.56) | (30.39) | (42.16) | (25.7) pt | ||||||
| Net income | (1) | 0 | (6) | (5) | (6) | 4 | (2) | (5) | (5) | (8) | (10) | +24.3% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 1.27 | 1.43 | 1.45 | 1.35 | 1.14 | 0.98 | 1.01 | 1.01 | 0.91 | 0.99 | 0.82 | (2.7%) | |||||
| Earnings | (0.06) | 0.00 | (0.23) | (0.19) | (0.25) | 0.15 | (0.10) | (0.19) | (0.19) | (0.30) | (0.34) | +19.6% | ||||||
| Cash flow | (0.14) | (0.03) | (0.16) | (0.18) | 0.06 | 0.02 | (0.05) | (0.03) | 0.16 | (0.36) | (0.39) | +11.1% | ||||||
| Capex | (0.01) | (0.04) | 0.04 | 0.19 | (0.01) | (0.01) | (0.01) | 0.00 | (0.04) | (0.01) | (0.01) | +1.0% | ||||||
| Free cash flow | (0.15) | (0.07) | (0.12) | 0.01 | 0.05 | 0.01 | (0.07) | (0.03) | 0.13 | (0.38) | (0.39) | +10.5% | ||||||
| Book value | 0.75 | 1.45 | 1.13 | 0.94 | 0.69 | 0.85 | 0.76 | 0.59 | 0.41 | 0.79 | 0.59 | +0.5% | ||||||
| Shares, m | 19 | 23 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 27 | 29 | +3.9% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 1,190.91 | 0.00 | 0.00 | 0.00 | 7.86 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 119.9 | |||||
| P/S | 3.10 | 1.83 | 2.51 | 1.58 | 1.07 | 1.22 | 1.24 | 0.77 | 1.62 | 4.97 | 1.88 | 2.0 | ||||||
| P/B | 5.24 | 1.80 | 3.21 | 2.26 | 1.76 | 1.41 | 1.64 | 1.32 | 3.61 | 6.27 | 2.63 | 2.9 | ||||||
| EV/Sales | 3.20 | 1.96 | 2.65 | 1.72 | 1.09 | 1.19 | 1.27 | 0.74 | 1.46 | 4.60 | 1.71 | 2.0 | ||||||
| EV/FCF | (26.35) | (40.12) | (32.62) | 185.25 | 24.56 | 90.12 | (19.62) | (21.07) | 10.60 | (12.06) | (3.54) | 15.9 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (3) | (1) | (4) | (4) | 1 | 0 | (1) | (1) | 4 | (10) | (12) | +15.5% | |||||
| Capex | 0 | (1) | 1 | 5 | 0 | 0 | 0 | 0 | (1) | 0 | 0 | +4.8% | ||||||
| Free cash flow | (3) | (2) | (3) | 0 | 1 | 0 | (2) | (1) | 3 | (10) | (12) | +14.8% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 14 | 13 | 13 | 14 | 13 | 16 | 14 | 10 | 5 | 20 | 16 | +3.5% | |||||
| Net debt | (1) | (2) | 2 | 2 | 0 | (4) | (2) | (1) | (4) | (11) | (6) | +39.5% | ||||||
| Shareholders’ equity | 15 | 34 | 28 | 23 | 17 | 21 | 19 | 15 | 10 | 21 | 18 | +4.5% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (4.89) | 0.13 | (11.35) | (10.35) | (17.28) | 11.84 | (8.08) | (16.41) | (16.17) | (24.23) | (34.67) | (19.3) pt | |||||
| ROIC | (4.47) | 0.44 | (11.63) | (11.70) | (21.10) | (4.35) | (8.60) | (19.75) | (42.97) | (51.35) | (55.91) | (46.9) pt | ||||||
| ROE | (8.13) | 0.20 | (18.49) | (18.33) | (30.28) | 19.25 | (12.20) | (27.34) | (38.42) | (52.21) | (78.46) | (44.1) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 86 | 95 | 97 | 93 | 81 | 79 | 86 | 93 | 92 | 120 | — | +3.8% | |||||
| Revenue/emp, $m | 0.28 | 0.35 | 0.37 | 0.36 | 0.35 | 0.31 | 0.29 | 0.27 | 0.25 | 0.23 | — | (2.6%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Tecogen 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 |
|---|---|---|---|---|---|---|---|---|---|
| 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%) | 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%) | |
| 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 |
| Median of peers | $55.9M | — | — | +76.13% | −297.33% | +25.95% | 32.16% | (3.38%) |
Pay and ownership Proxy statement filed 21 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 812.49k | 1.06m | 337.00 |
| 2024 | 203.50k | 196.85k | 121.00 |
| 2023 | 226.20k | 214.16k | 65.00 |
Ownership
Directors and executive officers, together
12.00%
8,704,864
29.11%
Ann Marie Pacheco, as Trustee
12.37%
Daphne Hatsopoulos
9.18%
Michael A. Bass, as Trustee
7.56%
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