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Friday 6 November 2026
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Zeo Energy Corp.
ZEO Technology Solar
Zeo Energy Corp.’s revenue for fiscal 2025 (year ended December 2025) was $69.3 million, down 5.32% from fiscal 2024.
- Revenue
- −10.7%
- EPS
- +36.4%
- Free cash flow
- +75.7%
- Total debt
- −20.9%
Quarter to June 2026, against a year earlier
0.21
0.00
0.00%
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Target Price Range
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 | — | — | — | — | — | — | — | 110 | 73 | 69 | 72 | (20.5%) | — | — | — | — | |
| Gross margin, % | — | — | — | — | — | — | — | 45.81 | 48.03 | 55.20 | 51.10 | +9.4 pt | ||||||
| EBT | — | — | — | — | — | 9 | 14 | 5 | (11) | (19) | (11) | n/m | ||||||
| EBT margin, % | — | — | — | — | — | 0.00 | 0.00 | 4.42 | (14.79) | (27.93) | (15.51) | (27.9) pt | ||||||
| Net income | — | 0 | — | — | — | 9 | 14 | 5 | (10) | (20) | (11) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 0.00 | 109.69 | 13.20 | 2.78 | 2.04 | n/m | |||||
| Earnings | — | — | — | — | — | (0.80) | 2.08 | 4.85 | (0.48) | (0.56) | (0.31) | (8.4%) | ||||||
| Cash flow | — | — | — | — | — | (0.14) | 0.47 | 11.98 | (1.57) | (0.35) | (0.15) | +25.6% | ||||||
| Capex | — | — | — | — | — | 0.00 | 0.00 | (1.03) | (0.07) | (0.05) | (0.02) | n/m | ||||||
| Free cash flow | — | — | — | — | — | (0.14) | 0.47 | 10.94 | (1.64) | (0.40) | (0.18) | +29.8% | ||||||
| Book value | — | — | — | — | — | (3.34) | (1.74) | 30.62 | (16.03) | 0.21 | 0.26 | n/m | ||||||
| Shares, m | — | — | — | — | — | 7 | 7 | 1 | 6 | 25 | 32 | +39.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | — | 0.71 | 0.26 | 0.51 | 0.10 | 0.5 | ||||||
| P/B | — | — | — | — | — | — | — | 2.54 | 0.00 | 6.58 | 0.80 | 3.0 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 0.65 | 0.20 | 0.42 | 0.08 | 0.4 | ||||||
| EV/FCF | — | — | — | — | — | — | — | 6.51 | (1.60) | (2.95) | (0.90) | 0.7 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | (1) | 3 | 12 | (9) | (9) | (5) | +74.6% | |||||
| Capex | — | — | — | — | — | — | — | (1) | 0 | (1) | (1) | +8.7% | ||||||
| Free cash flow | — | — | — | — | — | (1) | 3 | 11 | (9) | (10) | (6) | +80.4% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | 1 | (2) | 1 | 4 | 14 | 7 | +82.8% | |||||
| Net debt | — | — | — | — | — | (1) | (1) | (6) | (4) | (6) | (2) | +45.0% | ||||||
| Shareholders’ equity | — | — | — | — | — | (22) | (12) | 31 | (89) | 5 | 9 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 3.34 | 5.03 | 2.90 | (4.89) | (23.76) | (21.68) | (27.1) pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 0.00 | 13.27 | 0.00 | 0.00 | (98.81) | 0.0 pt | ||||||
| ROE | — | — | — | — | — | 7.99 | (83.50) | 52.02 | 9.16 | 33.52 | 44.16 | +25.5 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 2 | 2 | 190 | 190 | 190 | — | +212.2% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 0.58 | 0.39 | 0.36 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Zeo Energy 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 |
|---|---|---|---|---|---|---|---|---|---|
| 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% | Compare |
| 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%) | |
| 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 | $17.1M | — | — | +21.02% | — | −43.41% | 17.83% | (39.00%) |
Pay and ownership Proxy statement filed 6 July 2026
Ownership
Directors and executive officers, together
33.50% of the votes
LHX Intermediate, LLC
17.00% of the votes
Timothy Bridgewater
13.70% of the votes
Southern Crown Holdings, LLC
9.40% of the votes
Kalen Larsen
9.30% of the votes
Brandon Bridgewater
9.20% of the votes
LAMADD LLC
8.30% of the votes
ESGEN LLC
8.20% of the votes
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