Solid Power Inc. Class A Common Stock (SLDP)

FairStock Score: 44/100 — MIXED

Key Financials

AI Analysis

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

I am wary of businesses that have not yet proven they can earn a dollar. Solid Power is an R&D-stage solid-state battery developer with 230 employees. In fiscal FY2025, the period ended 2025-12-31, revenue was $17.9 million and net income was -$93.4 million. In fiscal FY2024, the period ended 2024-12-31, revenue was $20.1 million and net income was -$96.5 million. In fiscal FY2023, the period ended 2023-12-31, revenue was $17.4 million and net income was -$65.5 million. More recently, in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was -$268,000 and net income was -$23.8 million, with diluted EPS of -$0.11. That is not a business with a demonstrated moat; it is a research project financed by investors. Financial health has one clear positive: the FairStock-calculated debt-to-equity ratio is 0.02, and the FairStock-calculated Altman Z-score is 11.33, so leverage is low. But trailing free cash flow is -$73.2 million, a FairStock-calculated FCF yield of -14.9%. At the 2026-10-13 close of $2.15, FairStock shows a P/B of 0.97, a negative P/E of -4.67, ROE of -20.58%, ROCE of -14.43%, Piotroski F-Score of 2/9, and a FairStock Score of 44/100. The Lynch category is none, because losses occurred in each of the last four years. P/B near 1 may look cheap, but book value is mostly accounting, not earning power. Until revenue is consistently positive and losses shrink, intrinsic value is speculative. I prefer businesses with predictable earnings and a margin of safety; this one offers optionality, not proven value.

In plain English: Solid Power is a research-stage company developing solid-state batteries for electric vehicles. It is not yet profitable: it lost money in each of the last four years, and the latest filed quarter showed negative revenue and a large loss. The shares trade near the company's accounting value, but because there are no profits and cash is being used up, the stock looks speculative rather than clearly cheap.

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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