SUNE
SUNation Energy, Inc.
Next earnings Aug 17, 2026
Last earnings -6.3% on 2026-05-15
$2.24
▼ -0.88%$2.24▲ +37.42%
over 1Y
L $0.78H $5.88
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-0.9%
1W-11.8%
1M—
3M—
YTD—
1Y—
Avoid
Conviction
Horizon
Long (>12mo)
Street · 6 analysts
Sell
Serial 1-for-200 reverse splitter with chronic losses and Nasdaq delisting risk — a value trap, not a value.
Net income -$10.9M · FY2025
SUNation is a sub-$8M residential-solar consolidator that has never earned a profit and is fighting to stay listed. Revenue grew 26.5% to $71.9M in FY2025, but that follows a drop from $79.6M (FY2023) to $56.9M (FY2024), so the 'growth' is really a partial recovery, not durable momentum. Every single year in the history is a loss: -$6.24M, -$10.4M, -$8.13M, -$15.8M, and -$10.9M, cumulating in a -$53.8M accumulated deficit against just $24.3M of equity. Gross margin of 38.3% is respectable for the trade, but a -2.3% operating margin and -15.1% net margin mean the model does not cover its own overhead. ROE is -44.7%.
The capital structure is the disqualifier. Shares outstanding fell 99.5% not through buybacks but through three reverse splits in roughly a year — 1-for-15 (June 2024), 1-for-50 (October 2024), and 1-for-200 (April 2025). That cadence is the fingerprint of a company diluting relentlessly and then compressing the share count to hold a $1 bid. Diluted EPS was -$4.38 and authorized shares were raised to 1,000,000,000 in April 2025, signaling more issuance ahead. Long-term debt jumped to $6.64M (+958%) while cash is only $7.18M.
Is SUNE a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~90d expiry
- Long put 2 @ ~1.58 est
- Short put 2 @ ~1.58 est
debit $0max +$0max $0
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $38.2K | $27.5M | $79.6M | $56.9M | $71.9M |
| Gross profit | $38.2K | $7.38M | $27.7M | $20.4M | $27.5M |
| Operating income | -$4.86M | -$10.4M | -$7.47M | -$12.3M | -$1.67M |
| Net income | -$6.24M | -$10.4M | -$8.13M | -$15.8M | -$10.9M |
| Diluted EPS | -$2.03 | -$4.04 | -$611.55 | -$10,110.93 | -$4.38 |
| Net margin | -16339.7% | -37.6% | -10.2% | -27.9% | -15.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$8.80M
EV / EBITDA10.6
EV / Sales0.1
EV / FCF9.7
P / FCF10.2
PEG (trailing)—
Earnings yield-117.9%
FCF yield9.8%
Quality & risk
ROIC (est.)-4.3%
Free cash flow$906K
Total debt$6.75M
Net cash$435K
Piotroski F-Score7/9
Capital returns
Buyback yield0.1%
Dividend yield (est.)368.5%
Shareholder yield368.6%
Shares Δ YoY-99.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRoutine disclosure cadence — no material red flags in recent filings.
Recent filings
all on EDGAR ↗SCHEDULE 13GFiling2026-07-02open ↗3Period ending 2026-06-082026-06-18open ↗425Filing2026-06-08open ↗8-KPeriod ending 2026-06-052026-06-08open ↗8-KPeriod ending 2026-06-052026-06-08open ↗8-KPeriod ending 2026-05-152026-05-15open ↗10-QPeriod ending 2026-03-312026-05-15open ↗4Period ending 2026-04-142026-05-01open ↗4Period ending 2026-04-142026-05-01open ↗SCHEDULE 13D/AFiling2026-05-01open ↗DFiling2026-04-22open ↗8-KPeriod ending 2026-04-142026-04-15open ↗
Frequently asked
- Is SUNation Energy, Inc. (SUNE) a buy?
- SUNE currently carries a Avoid rating with 5/5 conviction, derived from its latest SEC filings. Serial 1-for-200 reverse splitter with chronic losses and Nasdaq delisting risk — a value trap, not a value.
- What is SUNation Energy, Inc.'s quality score?
- SUNE scores 58.65647232344266/100 (grade C) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000022701, latest 10-Q filed 2026-05-15) · EODHD · Proprietary analysis · as of 7/4/2026, 5:42:52 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 4, 2026, 1:42 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.