SPI Energy Co., Ltd. (SPIEQ) vs Zeo Energy Corp. (ZEO)

SPI Energy Co., Ltd. and Zeo Energy Corp. are both Solar companies. SPI Energy Co., Ltd. and Zeo Energy Corp. are of similar size ($24.2M and $23.6M). SPI Energy Co., Ltd. grew revenue faster over the last twelve months: 21.2% against 10.2%. SPI Energy Co., Ltd. has the higher net margin (−11.8% vs −15.4%) and the higher return on invested capital (−16.2% vs −98.8%). Across the 15 metrics below, SPI Energy Co., Ltd. leads on 10 and Zeo Energy Corp. on 5.

Valuation

Metric SPIEQ ZEO Solar median
P/E n/m n/m 10.93
P/S n/m 0.19 0.54
P/B n/m 1.44 1.44
Price to free cash flow n/m n/m 9.91
EV/EBITDA n/m n/m 9.90
EV/Sales 0.21 0.16 0.74
Earnings yield 0.00% (73.29%) 0.00%
Free cash flow yield 0.00% (46.95%) 0.00%

Profitability

Metric SPIEQ ZEO Solar median
Gross margin 13.08% 51.10% 31.92%
Operating margin (7.32%) (16.60%) (9.70%)
Net margin (11.75%) (15.43%) (8.48%)
Free cash flow margin (2.70%) (8.74%) (2.95%)
Return on equity (122.93%) 44.16% 5.34%
Return on assets (10.87%) (21.68%) (5.36%)
Return on invested capital (16.17%) (98.81%) (5.27%)

Growth

Metric SPIEQ ZEO Solar median
Revenue growth (TTM) 21.20% 10.17% 16.97%
EPS growth (last fiscal year) 33.68% (16.67%) —
Revenue growth, 5-year CAGR 7.87% — 14.00%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric SPIEQ ZEO Solar median
Debt to equity 3.21 0.08 0.09
Current ratio 0.41 1.56 1.33
Net debt to EBITDA (1.90) 0.49 0.03

Dividend

Metric SPIEQ ZEO Solar median
Dividend yield — — —
Payout ratio 0.00 0.00 0.00

Size

Metric SPIEQ ZEO Solar median
Market cap 24.21m 23.63m 43.46m

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