Maxeon Solar Technologies, Ltd.(MAXN)Earnings, Financials & Key Ratios
MAXN•NASDAQ
Price updated Jun 19, 2026
AboutMaxeon Solar Technologies, Ltd. designs, manufactures, markets, and sells solar panels and related solar system components worldwide. The company provides interdigitated back contact and shingled solar cells and panels under the SunPower brand. It offers its products to dealers, project developers, system integrators, distributors, resellers, and residential and small-scale commercial customers. Maxeon Solar Technologies, Ltd. was incorporated in 2019 and is headquartered in Singapore.Show more
- Revenue$509M-54.7%
- EBITDA-$533M-226.5%
- Net Income-$614M-122.7%
- EPS (Diluted)-73.78-1276.5%
- Gross Margin-49%-804.5%
- EBITDA Margin-104.74%-620.2%
- Operating Margin-113.28%-480.4%
- Net Margin-120.68%-391.4%
MAXN Key Insights
Maxeon Solar Technologies, Ltd. (MAXN) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Share count reduced 83.8% through buybacks
- ✓Efficient asset utilization: 1.4x turnover
✗Weaknesses
- ✗Profits declining 28.0% over 5 years
- ✗Weak Piotroski F-Score: 3/9
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 1 (bottom 1%)
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Sales declining 15.7% over 5 years
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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MAXN Price & Volume
Maxeon Solar Technologies, Ltd. (MAXN) stock price & volume — 10-year historical chart
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MAXN Growth Metrics
Maxeon Solar Technologies, Ltd. (MAXN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-15.74%
3 Years-13.38%
TTM-78.7%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-55.72%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-171.74%
Return on Capital
10 Years-61.9%
5 Years-60.84%
3 Years-85.01%
Last Year-189.74%
MAXN Peer Comparison
Maxeon Solar Technologies, Ltd. (MAXN) competitors in Solar modules and inverters — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 FSLR | 27.69B | 257.70 | 18.14 | 24.09% | 30.73% | 18.01% | 0.05 | |
 CSIQ | 1.1B | 16.27 | -10.50 | -6.65% | -1.87% | -2.39% | 1.80 | |
 JKS | 254.26M | 19.42 | -0.40 | -30.94% | -3.36% | -7.71% | 1.93 | |
 DQ | 959.51M | 14.18 | -5.56 | -35.34% | -32.94% | -3.19% | ||
 SOL | 99.56M | 1.94 | -8.08 | -12.85% | -7.48% | -1.65% | 0.19 | |
 ARRY | 1.23B | 8.00 | -10.96 | 40.22% | -5.56% | -20.64% | 2.94 | |
 SPWR | 127.72M | 0.78 | -11.66 | 2.92% | -8.66% | |||
 RUN | 3.23B | 13.52 | 7.91 | 45.11% | 17.9% | 12.42% | 2.99 |
Compare MAXN vs Peers
Maxeon Solar Technologies, Ltd. (MAXN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MAXN Income Statement
Maxeon Solar Technologies, Ltd. (MAXN) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 912.31M | 1.2B | 844.84M | 783.28M | 1.06B | 1.12B | 509.05M | 176.41M |
Revenue Growth % | - | 31.35% | -29.5% | -7.29% | 35.34% | 5.94% | -54.68% | -78.7% |
Cost of Goods Sold | 1.36B | 1.2B | 854.62M | 812.29M | 1.11B | 1.04B | 758.46M | 418.48M |
COGS % of Revenue | 149.32% | 100.19% | 101.16% | 103.7% | 104.52% | 93.04% | 149% | - |
Gross Profit | -449.93M▲ 0% | -2.31M▲ 99.5% | -9.78M▼ 323.6% | -29.01M▼ 196.6% | -47.95M▼ 65.3% | 78.11M▲ 262.9% | -249.41M▼ 419.3% | -242.06M▲ 0% |
Gross Margin % | -49.32% | -0.19% | -1.16% | -3.7% | -4.52% | 6.96% | -49% | -137.21% |
Gross Profit Growth % | - | 99.49% | -323.6% | -196.64% | -65.26% | 262.92% | -419.29% | - |
Operating Expenses | 132.07M | 133.85M | 120.4M | 143.43M | 152.35M | 297.32M | 327.23M | 270.39M |
OpEx % of Revenue | 14.48% | 11.17% | 14.25% | 18.31% | 14.37% | 26.47% | 64.28% | - |
Selling, General & Admin | 82.04M | 96.86M | 86.2M | 88.82M | 100.55M | 126.17M | 158.32M | 104.48M |
SG&A % of Revenue | 8.99% | 8.08% | 10.2% | 11.34% | 9.48% | 11.23% | 31.1% | - |
Research & Development | 50.03M | 37M | 34.19M | 46.53M | 49.68M | 45.7M | 37.55M | 32.85M |
R&D % of Revenue | 5.48% | 3.09% | 4.05% | 5.94% | 4.69% | 4.07% | 7.38% | - |
Other Operating Expenses | 0 | 0 | 0 | 8.08M | 2.12M | 125.45M | 131.35M | 4M |
Operating Income | -589.77M▲ 0% | -135.65M▲ 77.0% | -130.18M▲ 4.0% | -172.45M▼ 32.5% | -200.29M▼ 16.1% | -219.21M▼ 9.4% | -576.64M▼ 163.1% | -512.46M▲ 0% |
Operating Margin % | -64.65% | -11.32% | -15.41% | -22.02% | -18.89% | -19.52% | -113.28% | -290.49% |
Operating Income Growth % | - | 77% | 4.03% | -32.47% | -16.15% | -9.44% | -163.06% | - |
EBITDA | -506.87M | -82.2M | -82.85M | -130.24M | -143.55M | -163.32M | -533.18M | -487.65M |
EBITDA Margin % | -55.56% | -6.86% | -9.81% | -16.63% | -13.54% | -14.54% | -104.74% | -276.42% |
EBITDA Growth % | - | 83.78% | -0.79% | -57.2% | -10.22% | -13.77% | -226.45% | -50.31% |
D&A (Non-Cash Add-back) | 82.89M | 53.45M | 47.33M | 42.21M | 56.74M | 55.88M | 43.46M | 24.81M |
EBIT | -576.3M | -137.61M | -93.83M | -211.22M | -198.07M | -231.09M | -551.26M | -528.91M |
Net Interest Income | -25.89M | -25.83M | -31.86M | -27.85M | -27.81M | -33.05M | -43.28M | -38.02M |
Interest Income | 0 | 0 | 0 | 290K | 2.53M | 9.39M | 2.09M | 760K |
Interest Expense | 25.89M | 25.83M | 31.86M | 28.14M | 30.34M | 42.44M | 45.37M | 38.78M |
Other Income/Expense | -12.42M | -27.79M | 1.29M | -83.1M | -34.66M | -57.13M | -19.98M | -34.5M |
Pretax Income | -602.19M▲ 0% | -163.44M▲ 72.9% | -128.88M▲ 21.1% | -255.54M▼ 98.3% | -234.96M▲ 8.1% | -276.34M▼ 17.6% | -596.62M▼ 115.9% | -546.96M▲ 0% |
Pretax Margin % | -66.01% | -13.64% | -15.26% | -32.62% | -22.16% | -24.6% | -117.2% | -310.04% |
Income Tax | -1.05M | 10.12M | 12.13M | 203K | 32.19M | -626K | 17.95M | 17.88M |
Effective Tax Rate % | 0.17% | -6.19% | -9.41% | -0.08% | -13.7% | 0.23% | -3.01% | -3.27% |
Net Income | -603.81M▲ 0% | -178.9M▲ 70.4% | -142.63M▲ 20.3% | -254.52M▼ 78.4% | -267.42M▼ 5.1% | -275.83M▼ 3.1% | -614.3M▼ 122.7% | -565.38M▲ 0% |
Net Margin % | -66.19% | -14.93% | -16.88% | -32.49% | -25.23% | -24.56% | -120.68% | -320.48% |
Net Income Growth % | - | 70.37% | 20.27% | -78.45% | -5.07% | -3.14% | -122.71% | -55.72% |
Net Income (Continuing) | -604.08M | -178.9M | -141.01M | -255.75M | -267.15M | -275.71M | -614.57M | -564.84M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 1.15M | 5.3M | 6.64M | 5.42M | 5.63M | 5.75M | 5.48M | 5.81M |
EPS (Diluted) | -20.36▲ 0% | -5.85▲ 71.3% | -5.62▲ 3.9% | -6.39▼ 13.7% | -6.31▲ 1.3% | -5.36▲ 15.1% | -73.78▼ 1276.5% | -33.63▲ 0% |
EPS Growth % | - | 71.27% | 3.93% | -13.7% | 1.25% | 15.06% | -1276.49% | -171.74% |
EPS (Basic) | -20.36 | -8.16 | -5.62 | -6.39 | -6.31 | -594.63 | -73.78 | - |
Diluted Shares Outstanding | 29.66M | 29.66M | 24.5M | 37.46M | 40.92M | 51.44M | 8.33M | 16.81M |
Basic Shares Outstanding | 29.66M | 21.26M | 24.5M | 37.46M | 40.92M | 463.87K | 8.33M | 16.81M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - |
MAXN Balance Sheet
Maxeon Solar Technologies, Ltd. (MAXN) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
Total Current Assets | 467.97M | 618.12M | 547.2M | 533.12M | 791.05M | 619.02M | 266.02M | 145.06M |
Cash & Short-Term Investments | 101.71M | 120.96M | 206.74M | 166.54M | 303.44M | 190.17M | 28.89M | 17.23M |
Cash Only | 101.71M | 120.96M | 206.74M | 166.54M | 227.44M | 190.17M | 28.89M | 17.23M |
Short-Term Investments | 0 | 0 | 0 | 0 | 76M | 0 | 0 | 0 |
Accounts Receivable | 97.08M | 179.2M | 102.12M | 80.27M | 114.46M | 92.21M | 12.56M | 8.77M |
Days Sales Outstanding | 38.84 | 54.58 | 44.12 | 37.41 | 39.41 | 29.97 | 9.01 | 25.21 |
Inventory | 222.82M | 194.85M | 169.24M | 263.87M | 303.23M | 308.95M | 40.22M | 34.1M |
Days Inventory Outstanding | 59.7 | 59.24 | 72.28 | 118.57 | 99.89 | 107.91 | 19.36 | 56.23 |
Other Current Assets | 8.51M | 15.72M | 25.41M | 6.27M | 43.55M | 9.64M | 176.47M | 84.96M |
Total Non-Current Assets | 503.33M | 372.09M | 433.15M | 523.42M | 469.37M | 382.99M | 110.26M | 41.25M |
Property, Plant & Equipment | 285.74M | 299.96M | 260.39M | 402.03M | 398.31M | 302.85M | 100.81M | 33.04M |
Fixed Asset Turnover | 3.19x | 3.99x | 3.24x | 1.95x | 2.66x | 3.71x | 5.05x | 2.18x |
Goodwill | 0 | 0 | 0 | 0 | 0 | 7.88M | 0 | 0 |
Intangible Assets | 12.16M | 5.09M | 456K | 420K | 5.22M | 8.08M | 523K | 441K |
Long-Term Investments | 47.13M | 34.39M | 29.71M | 15.23M | 7.06M | 4M | 4M | 4M |
Other Non-Current Assets | 147.9M | 23.72M | 132.97M | 100.56M | 48.43M | 60.18M | 4.92M | 7.77M |
Total Assets | 971.3M▲ 0% | 990.21M▲ 1.9% | 980.34M▼ 1.0% | 1.06B▲ 7.8% | 1.26B▲ 19.3% | 1B▼ 20.5% | 376.27M▼ 62.4% | 186.31M▲ 0% |
Asset Turnover | 0.94x | 1.21x | 0.86x | 0.74x | 0.84x | 1.12x | 1.35x | 0.59x |
Asset Growth % | - | 1.95% | -1% | 7.77% | 19.3% | -20.5% | -62.45% | -282.01% |
Total Current Liabilities | 398.96M | 520.72M | 308.13M | 421.04M | 576.23M | 431.94M | 338.51M | 172.33M |
Accounts Payable | 199.43M | 286.46M | 159.18M | 270.48M | 247.87M | 153.02M | 62.54M | 47.48M |
Days Payables Outstanding | 53.43 | 87.09 | 67.99 | 121.54 | 81.65 | 53.45 | 30.1 | 59.67 |
Short-Term Debt | 39.71M | 59.77M | 47.78M | 25.36M | 50.53M | 25.43M | 462K | 482K |
Deferred Revenue (Current) | 62.81M | 78.94M | 20.76M | 44.06M | 139.27M | 134.17M | 74.31M | 180.65M |
Other Current Liabilities | 65.65M | 59.81M | 65.13M | 59.91M | 47.27M | 75.52M | 122.82M | 0 |
Current Ratio | 1.17x | 1.19x | 1.78x | 1.27x | 1.37x | 1.43x | 0.79x | 0.84x |
Quick Ratio | 0.61x | 0.81x | 1.23x | 0.64x | 0.85x | 0.72x | 0.67x | 0.64x |
Cash Conversion Cycle | 45.11 | 26.73 | 48.41 | 34.44 | 57.64 | 84.43 | -1.74 | 21.77 |
Total Non-Current Liabilities | 136.99M | 101.97M | 232.92M | 280.63M | 636.12M | 565.43M | 326.13M | 335.62M |
Long-Term Debt | 0 | 1.49M | 135.07M | 145.99M | 380.26M | 386.76M | 274.5M | 287.72M |
Capital Lease Obligations | 0 | 18.34M | 13.03M | 13.46M | 15.6M | 19.61M | 27.43M | 95.65M |
Deferred Tax Liabilities | 866K | 337K | 18.06M | 1.15M | 14.91M | 7M | 5.31M | 17.62M |
Other Non-Current Liabilities | 80.51M | 46.19M | 33.69M | 61.04M | 63.66M | 38.49M | 15.55M | 16.11M |
Total Liabilities | 535.96M | 622.69M | 541.06M | 701.67M | 1.21B | 997.37M | 664.64M | 507.96M |
Total Debt | 41.85M | 82.57M | 198.98M | 187.27M | 449.8M | 437.66M | 311.49M | 319.48M |
Net Debt | -59.86M | -38.38M | -7.76M | 20.73M | 222.36M | 247.49M | 282.6M | 302.26M |
Debt / Equity | 0.10x | 0.22x | 0.45x | 0.53x | 9.36x | 94.28x | - | -0.99x |
Debt / EBITDA | - | - | - | - | - | - | - | -0.66x |
Net Debt / EBITDA | - | - | - | - | - | - | - | -0.62x |
Interest Coverage | -22.26x | -5.33x | -2.95x | -7.51x | -6.53x | -5.45x | -12.15x | -13.64x |
Total Equity | 435.35M▲ 0% | 367.52M▼ 15.6% | 439.29M▲ 19.5% | 354.88M▼ 19.2% | 48.07M▼ 86.5% | 4.64M▼ 90.3% | -288.37M▼ 6312.1% | -321.65M▲ 0% |
Equity Growth % | - | -15.58% | 19.53% | -19.22% | -86.45% | -90.34% | -6312.09% | -8280.44% |
Book Value per Share | 14.68 | 12.39 | 17.93 | 9.47 | 1.17 | 0.09 | -34.63 | -19.13 |
Total Shareholders' Equity | 434.2M | 362.22M | 432.64M | 349.46M | 42.44M | -1.11M | -293.84M | -327.46M |
Common Stock | 438.21M | 369.84M | 0 | 0 | 0 | 0 | 0 | 0 |
Retained Earnings | 0 | 0 | -8.44M | -262.96M | -520.26M | -796.09M | -1.41B | -1.47B |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | -4.01M | -7.62M | -10.39M | -11.84M | -22.11M | -16.38M | -20.49M | -647K |
Minority Interest | 1.15M | 5.3M | 6.64M | 5.42M | 5.63M | 5.75M | 5.48M | 5.81M |
MAXN Cash Flow Statement
Maxeon Solar Technologies, Ltd. (MAXN) cash flow — operating, investing & free cash flow history
| Metric | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
Cash from Operations | -156.82M | -26.34M | -189.16M | -4.87M | 3.44M | -254.29M | -270.16M | -170.62M |
Operating CF Margin % | -17.19% | -2.2% | -22.39% | -0.62% | 0.32% | -22.64% | -53.07% | - |
Operating CF Growth % | - | 83.2% | -618.15% | 97.43% | 170.63% | -7498.75% | -6.24% | 250.15% |
Net Income | -604.08M | -178.9M | -141.01M | -255.75M | -267.15M | -275.71M | -614.57M | -565.38M |
Depreciation & Amortization | 82.89M | 53.45M | 47.33M | 42.21M | 56.74M | 55.88M | 43.46M | 23.58M |
Stock-Based Compensation | 8.58M | 7.13M | 7.25M | 7.23M | 14.58M | 18.33M | 28.7M | 20.05M |
Deferred Taxes | -2.24M | 804K | -1.33M | 5.59M | 8.6M | 2.44M | -355K | -348K |
Other Non-Cash Items | 384.44M | 29.43M | -18.04M | 66.77M | 31.82M | 116.41M | 342.9M | 364.83M |
Working Capital Changes | -26.42M | 61.74M | -83.36M | 129.09M | 158.84M | -171.63M | -70.29M | -545.5K |
Change in Receivables | -31.3M | -77.57M | 71.23M | 38.27M | -15.33M | -8.33M | 42.56M | 15.79M |
Change in Inventory | 18.08M | 28.41M | 28.68M | -43.17M | -106.62M | -43.47M | 50.06M | 1.54M |
Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash from Investing | -52.97M | -41.87M | -45.49M | -154.45M | -139.3M | 13.93M | -25.24M | 27.94M |
Capital Expenditures | -39.62M | -41.91M | -27.69M | -154.61M | -63.34M | -67.45M | -52.15M | -15.86M |
CapEx % of Revenue | 4.34% | 3.5% | 3.28% | 19.74% | 5.97% | 6.01% | 10.24% | 8.99% |
Acquisitions | -13.35M | 0 | -26.78M | 0 | 0 | 0 | 24M | 24M |
Investments | - | - | - | - | - | - | - | - |
Other Investing | 0 | 34K | 3.75M | 163K | 36K | 5.38M | 1.58M | 18.47M |
Cash from Financing | 165.82M | 89.88M | 320.35M | 141.81M | 211.47M | 167.95M | 141.23M | 92.74M |
Debt Issued (Net) | -5.26M | -2.52M | 199.46M | -23.63M | 211.79M | -25.54M | 44.79M | -6M |
Equity Issued (Net) | 0 | 0 | 296.76M | 169.68M | 0 | 193.49M | 96.45M | 96.45M |
Dividends Paid | 0 | 0 | -134M | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | 171.09M | 92.41M | -41.88M | -4.25M | -321K | 0 | 0 | 2.29M |
Net Change in Cash | -43.91M▲ 0% | 22.05M▲ 150.2% | 85.77M▲ 288.9% | -17.34M▼ 120.2% | 75.73M▲ 536.7% | -72.45M▼ 195.7% | -164.5M▼ 127.1% | -84.86M▲ 0% |
Free Cash Flow | -196.44M▲ 0% | -68.48M▲ 65.1% | -216.85M▼ 216.7% | -159.54M▲ 26.4% | -60.04M▲ 62.4% | -321.89M▼ 436.1% | -322.31M▼ 0.1% | -186.47M▲ 0% |
FCF Margin % | -21.53% | -5.71% | -25.67% | -20.37% | -5.66% | -28.66% | -63.32% | -105.7% |
FCF Growth % | - | 65.14% | -216.68% | 26.43% | 62.36% | -436.1% | -0.13% | 57.51% |
FCF per Share | -6.62 | -2.31 | -8.85 | -4.26 | -1.47 | -6.26 | -38.71 | -11.09 |
FCF Conversion (FCF/Net Income) | 0.26x | 0.15x | 1.33x | 0.02x | -0.01x | 0.92x | 0.44x | 0.33x |
Interest Paid | 1.27M | 1.93M | 3.44M | 15.16M | 12.91M | 30.94M | 17.73M | 8.08M |
Taxes Paid | 7.59M | 8.11M | 12.49M | 9.58M | 6.45M | 15.21M | 12.56M | 0 |
MAXN Key Ratios
Maxeon Solar Technologies, Ltd. (MAXN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -44.57% | -35.36% | -64.1% | -132.73% | -1046.55% | - | 198.83% |
Return on Invested Capital (ROIC) | -28.88% | -25.67% | -32.05% | -46.51% | -62.92% | -351.09% | -9043.93% |
Gross Margin | -0.19% | -1.16% | -3.7% | -4.52% | 6.96% | -49% | -137.21% |
Net Margin | -14.93% | -16.88% | -32.49% | -25.23% | -24.56% | -120.68% | -320.48% |
Debt / Equity | 0.22x | 0.45x | 0.53x | 9.36x | 94.28x | - | -0.99x |
Interest Coverage | -5.33x | -2.95x | -7.51x | -6.53x | -5.45x | -12.15x | -13.64x |
FCF Conversion | 0.15x | 1.33x | 0.02x | -0.01x | 0.92x | 0.44x | 0.33x |
Revenue Growth | 31.35% | -29.5% | -7.29% | 35.34% | 5.94% | -54.68% | -78.7% |
Related:MAXN Dividend History·MAXN Revenue History·MAXN Price History·MAXN P/E History·MAXN Financial Ratios·MAXN Institutional Holders
MAXN Frequently Asked Questions
Maxeon Solar Technologies, Ltd. (MAXN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Maxeon Solar Technologies, Ltd. (MAXN) reported $176.4M in revenue for fiscal year 2024. This represents a 81% decrease from $912.3M in 2018.
Maxeon Solar Technologies, Ltd. (MAXN) saw revenue decline by 54.7% over the past year.
Maxeon Solar Technologies, Ltd. (MAXN) reported a net loss of $565.4M for fiscal year 2024.
Dividend & Returns
Maxeon Solar Technologies, Ltd. (MAXN) had negative free cash flow of $186.5M in fiscal year 2024, likely due to heavy capital investments.