FTC Solar Inc. Common Stock (FTCI)

FairStock Score: 21/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable profits and a margin of safety. FTC Solar fails the first test. In fiscal 2025, the year ended 2025-12-31, revenue was $99.7 million, but net income was -$79.6 million, or diluted EPS -$5.68. In fiscal 2024, the year ended 2024-12-31, revenue was $47.4 million and net loss was $48.6 million. Revenue has been volatile: $127.0 million in fiscal 2023, $47.4 million in fiscal 2024, and $99.7 million in fiscal 2025. The latest filed quarter, fiscal Q2 2026, the quarter ended 2026-06-30, had revenue of $26.2 million and a net loss of $27.1 million, a -103.7% margin. Trailing free cash flow was -$28.6 million. At the 2026-10-13 close of $1.87, the market cap is $30.8 million; FairStock calculates a P/E of -0.33 and an FCF yield of -92.9%. A negative P/E is not cheapness; it is the absence of earnings. FairStock's Piotroski score is 3/9 and Altman Z-score is -6.17, pointing to financial fragility. The solar tracker market may expand, but I see no evidence of pricing power, recurring profit, or a moat in these figures. The provided Lynch category is none, because the company lost money in each of the last four years. The 52-week range of $1.78 to $12.75 shows how far expectations have fallen. Until FTC Solar shows consistent profits and positive cash generation, the low market value is not a margin of safety.

In plain English: FTC Solar makes solar tracker systems for large solar projects. The business is not making money right now: it lost money in each of the last four years and used more cash than it brought in. At $1.87 a share, the price looks low, but the losses are large, so it does not look like a clear bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer