Orion Energy Systems, Inc. (OESX) 10-Year Financial Performance & Capital Metrics

OESX • • Industrial / General

IndustrialsElectrical EquipmentLighting & Building ManagementCommercial Lighting Systems

AboutOrion Energy Systems, Inc. researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, exterior area lighting, and industrial applications in North America. The company operates through three segments: Orion Services Group, Orion Distribution Services, and Orion U.S. Markets. It offers interior light emitting diode (LED) high bay fixtures; smart building control systems, which provide lighting control options and data intelligence capabilities for building managers; and LED troffer door retrofit for use in office or retail grid ceilings. The company also offers various other LED and HIF fixtures for lighting and energy management needs comprising fixtures for agribusinesses, parking lots, roadways, retail, mezzanine, outdoor applications, and private label resale. In addition, it provides maintenance, repair, and replacement services; offers lighting-related energy management services, such as site assessment, site field verification, utility incentive and government subsidy management, engineering design, project management, installation, facility design commissioning, and recycling; and sells and distributes replacement lamps and fixture components into the after-market. The company serves customers directly and through independent sales agencies and distributors, national account end-users, federal and state government facilities, regional account end-users, electrical distributors, electrical contractors, and energy service companies. Orion Energy Systems, Inc. was incorporated in 1996 and is headquartered in Manitowoc, Wisconsin.Show more

Revenue $80M -12.0%
EBITDA -$8M +1.8%
Net Income -$12M -1.1%
EPS (Diluted) -3.60
Gross Margin 25.38% +10.0%
EBITDA Margin -10.26% -11.6%
Operating Margin -13.29% -11.2%
Net Margin -14.8% -14.9%
ROE -68.56% -63.9%
ROIC -34.75% -25.4%
Debt/Equity 0.87 +61.7%
Interest Coverage -9.36 +26.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 91 (top 9%)
✓Efficient asset utilization: 1.5x turnover

✗Weaknesses

✗Sales declining 12.0% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.99%

5Y-11.97%

3Y-13.78%

TTM-12.77%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM22.23%

EPS CAGR

10Y-

5Y-

3Y-

TTM25.05%

ROCE

10Y Avg-14.43%

5Y Avg-12.68%

3Y Avg-29.63%

Latest-34.89%

Peer Comparison

Commercial Lighting Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AYIAcuity Brands, Inc.	9.84B	320.82	25.60	13.14%	9.04%	14.69%	5.42%	0.37
OESXOrion Energy Systems, Inc.	60.94M	17.26	-4.79	-11.99%	-7.81%	-0.05%	0.81%	0.87

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	67.64M	70.21M	60.3M	65.75M	150.84M	116.84M	124.38M	77.38M	90.58M	79.72M
Revenue Growth %	-0.06%	0.04%	-0.14%	0.09%	1.29%	-0.23%	0.06%	-0.38%	0.17%	-0.12%
Cost of Goods Sold+	51.65M	52.87M	45.63M	51.2M	113.72M	86.72M	90.47M	59.87M	69.67M	59.48M
COGS % of Revenue	0.76%	0.75%	0.76%	0.78%	0.75%	0.74%	0.73%	0.77%	0.77%	0.75%
Gross Profit+	16M	17.34M	14.67M	14.55M	37.12M	30.12M	33.91M	17.51M	20.91M	20.24M
Gross Margin %	0.24%	0.25%	0.24%	0.22%	0.25%	0.26%	0.27%	0.23%	0.23%	0.25%
Gross Profit Growth %	15.07%	0.08%	-0.15%	-0.01%	1.55%	-0.19%	0.13%	-0.48%	0.19%	-0.03%
Operating Expenses+	29.62M	29.61M	26.94M	20.71M	24.01M	23.29M	25.52M	33.5M	31.73M	30.83M
OpEx % of Revenue	0.44%	0.42%	0.45%	0.31%	0.16%	0.2%	0.21%	0.43%	0.35%	0.39%
Selling, General & Admin	27.96M	27.61M	25.04M	19.34M	22.3M	21.6M	23.31M	30.88M	29.73M	29.6M
SG&A % of Revenue	0.41%	0.39%	0.42%	0.29%	0.15%	0.18%	0.19%	0.4%	0.33%	0.37%
Research & Development	1.67M	2M	1.91M	1.37M	1.72M	1.69M	1.7M	1.85M	1.5M	1.23M
R&D % of Revenue	0.02%	0.03%	0.03%	0.02%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%
Other Operating Expenses	0	215K	248K	80K	0	0	512K	765K	512K	0
Operating Income+	-19.92M	-12.53M	-12.98M	-6.16M	13.11M	6.84M	8.39M	-15.98M	-10.82M	-10.6M
Operating Margin %	-0.29%	-0.18%	-0.22%	-0.09%	0.09%	0.06%	0.07%	-0.21%	-0.12%	-0.13%
Operating Income Growth %	0.38%	0.37%	-0.04%	0.53%	3.13%	-0.48%	0.23%	-2.91%	0.32%	0.02%
EBITDA+	-15.64M	-10.2M	-10.97M	-4.37M	14.67M	8.32M	9.95M	-13.96M	-8.33M	-8.18M
EBITDA Margin %	-0.23%	-0.15%	-0.18%	-0.07%	0.1%	0.07%	0.08%	-0.18%	-0.09%	-0.1%
EBITDA Growth %	0.43%	0.35%	-0.08%	0.6%	4.35%	-0.43%	0.2%	-2.4%	0.4%	0.02%
D&A (Non-Cash Add-back)	4.28M	2.33M	2.01M	1.78M	1.56M	1.48M	1.55M	2.02M	2.5M	2.41M
EBIT	-19.79M	-12.39M	-12.72M	-6.17M	12.9M	6.64M	8.33M	-16.02M	-10.88M	-10.73M
Net Interest Income+	-169K	-237K	-410K	-283K	-417K	-184K	-80K	-278K	-845K	-1.13M
Interest Income	128K	36K	15K	11K	5K	0	0	34K	2K	7K
Interest Expense	297K	273K	425K	294K	422K	184K	80K	312K	847K	1.13M
Other Income/Expense	-169K	-22K	-162K	-503K	-489K	-318K	-141K	-378K	-806K	-1.16M
Pretax Income+	-20.09M	-12.55M	-13.14M	-6.66M	12.62M	6.52M	8.25M	-16.36M	-11.63M	-11.76M
Pretax Margin %	-0.3%	-0.18%	-0.22%	-0.1%	0.08%	0.06%	0.07%	-0.21%	-0.13%	-0.15%
Income Tax+	36K	-261K	-15K	14K	159K	-19.62M	2.16M	17.98M	41K	42K
Effective Tax Rate %	1%	0.98%	1%	1%	0.99%	4.01%	0.74%	2.1%	1%	1%
Net Income+	-20.13M	-12.29M	-13.13M	-6.67M	12.46M	26.13M	6.09M	-34.34M	-11.67M	-11.8M
Net Margin %	-0.3%	-0.18%	-0.22%	-0.1%	0.08%	0.22%	0.05%	-0.44%	-0.13%	-0.15%
Net Income Growth %	0.37%	0.39%	-0.07%	0.49%	2.87%	1.1%	-0.77%	-6.64%	0.66%	-0.01%
Net Income (Continuing)	-20.13M	-12.29M	-13.13M	-6.67M	12.46M	26.13M	6.09M	-34.34M	-11.67M	-11.8M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-7.30	-4.40	-4.60	-2.30	4.00	8.30	1.90	-10.80	-3.60	-3.60
EPS Growth %	0.49%	0.4%	-0.05%	0.5%	2.74%	1.07%	-0.77%	-6.68%	0.67%	0%
EPS (Basic)	-7.30	-4.40	-4.60	-2.30	4.10	8.50	2.00	-10.80	-3.60	-3.60
Diluted Shares Outstanding	2.76M	2.82M	2.88M	2.94M	3.1M	3.13M	3.13M	3.17M	3.25M	3.28M
Basic Shares Outstanding	2.76M	2.79M	2.85M	2.9M	3.01M	3.06M	3.1M	3.17M	3.25M	3.28M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	51.13M	43.88M	29.45M	41.38M	54.97M	56.53M	51.25M	50.36M	44.82M	35.5M
Cash & Short-Term Investments	15.54M	17.31M	9.42M	8.73M	28.75M	19.39M	14.47M	15.99M	5.16M	5.97M
Cash Only	15.54M	17.31M	9.42M	8.73M	28.75M	19.39M	14.47M	15.99M	5.16M	5.97M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	15.2M	11.4M	10.65M	18.55M	10.99M	16.5M	15.91M	15.05M	18.56M	16.2M
Days Sales Outstanding	82	59.25	64.44	102.97	26.59	51.55	46.68	70.98	74.79	74.15
Inventory	17.02M	13.59M	7.83M	13.4M	14.51M	19.55M	19.83M	18.2M	18.25M	11.39M
Days Inventory Outstanding	120.32	93.84	62.6	95.55	46.56	82.31	80.01	110.98	95.59	69.9
Other Current Assets	37K	935K	1M	0	0	0	0	0	1.6M	639K
Total Non-Current Assets+	19.75M	18.17M	15.87M	14.64M	17.59M	36.29M	35.57M	21.22M	18.35M	16.96M
Property, Plant & Equipment	14.4M	13.79M	12.89M	12.01M	11.82M	13.95M	13.91M	10.47M	11.36M	8.03M
Fixed Asset Turnover	4.70x	5.09x	4.68x	5.47x	12.76x	8.37x	8.94x	7.39x	7.97x	9.93x
Goodwill	0	0	0	0	0	0	350K	1.48M	1.48M	1.48M
Intangible Assets	5.05M	4.21M	2.87M	2.47M	2.22M	1.95M	2.4M	6M	4.46M	3.38M
Long-Term Investments	112K	9K	0	0	0	0	0	0	0	0
Other Non-Current Assets	293K	175K	110K	165K	3.56M	599K	1.1M	3.26M	1.04M	4.08M
Total Assets+	70.88M	62.05M	45.33M	56.02M	72.56M	92.82M	86.82M	71.58M	63.17M	52.46M
Asset Turnover	0.95x	1.13x	1.33x	1.17x	2.08x	1.26x	1.43x	1.08x	1.43x	1.52x
Asset Growth %	-0.19%	-0.12%	-0.27%	0.24%	0.3%	0.28%	-0.06%	-0.18%	-0.12%	-0.17%
Total Current Liabilities+	19.29M	18.4M	16.42M	27.34M	27.2M	30.37M	18.37M	24.45M	28.05M	26.84M
Accounts Payable	11.72M	11.63M	11.68M	19.71M	19.83M	17.05M	9.86M	13.4M	18.35M	13.27M
Days Payables Outstanding	82.8	80.32	93.39	140.48	63.66	71.74	39.76	81.72	96.14	81.44
Short-Term Debt	746K	152K	79K	96K	35K	14K	16K	17K	3K	353K
Deferred Revenue (Current)	241K	621K	499K	123K	107K	87K	76K	480K	260K	491K
Other Current Liabilities	3.88M	3.34M	2.38M	6.2M	2M	2.31M	1.02M	1.48M	6.2M	2.52M
Current Ratio	2.65x	2.39x	1.79x	1.51x	2.02x	1.86x	2.79x	2.06x	1.60x	1.32x
Quick Ratio	1.77x	1.65x	1.32x	1.02x	1.49x	1.22x	1.71x	1.31x	0.95x	0.90x
Cash Conversion Cycle	119.51	72.77	33.65	58.04	9.49	62.11	86.93	100.24	74.25	62.61
Total Non-Current Liabilities+	5.6M	8.21M	5.48M	10.72M	14.32M	4.38M	3.34M	13.88M	12.57M	13.73M
Long-Term Debt	4.02M	6.82M	3.91M	81K	10.06M	35K	19K	10M	10M	9.97M
Capital Lease Obligations	0	0	105K	0	2.83M	2.64M	2.27M	1.83M	1.12M	0
Deferred Tax Liabilities	0	0	129K	130K	0	0	0	0	0	0
Other Non-Current Liabilities	558K	442K	524K	9.84M	716K	1.06M	489K	1.56M	1.04M	3.43M
Total Liabilities	24.89M	26.6M	21.9M	38.05M	41.53M	34.75M	21.72M	38.33M	40.63M	40.58M
Total Debt+	4.77M	6.97M	4.09M	9.38M	13.62M	3.34M	3.07M	11.85M	12.11M	10.32M
Net Debt	-10.77M	-10.34M	-5.33M	650K	-15.13M	-16.05M	-11.39M	-4.15M	6.96M	4.35M
Debt / Equity	0.10x	0.20x	0.17x	0.52x	0.44x	0.06x	0.05x	0.36x	0.54x	0.87x
Debt / EBITDA	-	-	-	-	0.93x	0.40x	0.31x	-	-	-
Net Debt / EBITDA	-	-	-	-	-1.03x	-1.93x	-1.15x	-	-	-
Interest Coverage	-67.08x	-45.89x	-30.54x	-20.94x	31.07x	37.15x	104.89x	-51.23x	-12.78x	-9.36x
Total Equity+	45.98M	35.45M	23.42M	17.97M	31.04M	58.07M	65.1M	33.25M	22.54M	11.88M
Equity Growth %	-0.29%	-0.23%	-0.34%	-0.23%	0.73%	0.87%	0.12%	-0.49%	-0.32%	-0.47%
Book Value per Share	16.64	12.59	8.14	6.11	10.02	18.55	20.80	10.49	6.94	3.62
Total Shareholders' Equity	45.98M	35.45M	23.42M	17.97M	31.04M	58.07M	65.1M	33.25M	22.54M	11.88M
Common Stock	0	0	0	0	0	0	0	0	0	0
Retained Earnings	-70.08M	-82.37M	-95.49M	-101.77M	-89.31M	-63.17M	-57.08M	-91.42M	-103.09M	-114.89M
Treasury Stock	-36.08M	-36.08M	-36.09M	-36.09M	-36.16M	-36.24M	-36.24M	-36.24M	-36.23M	-36.25M
Accumulated OCI	-18.58M	-19.95M	-21.3M	-22.48M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-3.44M	-1.9M	-4.42M	-5.06M	20.34M	1.73M	-113K	-2.29M	-10.09M	599K
Operating CF Margin %	-0.05%	-0.03%	-0.07%	-0.08%	0.13%	0.01%	-0%	-0.03%	-0.11%	0.01%
Operating CF Growth %	0.73%	0.45%	-1.32%	-0.15%	5.02%	-0.92%	-1.07%	-19.27%	-3.41%	1.06%
Net Income	-20.13M	-12.29M	-13.13M	-6.67M	12.46M	26.13M	6.09M	-34.34M	-11.67M	-11.8M
Depreciation & Amortization	4.28M	2.33M	2.01M	1.78M	1.56M	1.48M	1.55M	2.02M	2.5M	2.41M
Stock-Based Compensation	1.46M	1.6M	1.1M	825K	618K	753K	813K	1.61M	950K	1.16M
Deferred Taxes	7.18M	2.6M	1.99M	-146K	0	-19.86M	1.98M	17.88M	-5K	7K
Other Non-Cash Items	144K	177K	-94K	158K	515K	629K	644K	889K	1.45M	1.44M
Working Capital Changes	3.62M	3.68M	3.7M	-1M	5.19M	-7.41M	-11.2M	9.65M	-3.31M	7.38M
Change in Receivables	7.12M	1.69M	419K	-5.84M	6.8M	-4.75M	5.26M	840K	0	1.99M
Change in Inventory	-3.25M	1.22M	4.71M	-4.69M	-1.32M	-5.32M	-420K	1.88M	0	6.11M
Change in Payables	-254K	-81K	20K	8.92M	-79K	-2.64M	-8.13M	2.37M	4.99M	-5.08M
Cash from Investing+	-427K	1.65M	-585K	-449K	-936K	-946K	-4.92M	-6.2M	-731K	128K
Capital Expenditures	-427K	-951K	-585K	-449K	-814K	-902K	-518K	-586K	-837K	-99K
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0.01%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	29K	2.6M	-73K	-68K	-122K	-44K	112K	-9K	106K	227K
Cash from Financing+	-595K	2.02M	-2.88M	4.81M	615K	-10.14M	104K	10.01M	-14K	90K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	102K	8K	6K	-392K	-104K	-93K	118K	27K	-2K	-216K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-3.87M	-2.85M	-5M	-5.51M	19.4M	776K	-641K	-2.89M	-10.93M	494K
FCF Margin %	-0.06%	-0.04%	-0.08%	-0.08%	0.13%	0.01%	-0.01%	-0.04%	-0.12%	0.01%
FCF Growth %	0.74%	0.26%	-0.75%	-0.1%	4.52%	-0.96%	-1.83%	-3.5%	-2.79%	1.05%
FCF per Share	-1.40	-1.01	-1.74	-1.87	6.26	0.25	-0.20	-0.91	-3.36	0.15
FCF Conversion (FCF/Net Income)	0.17x	0.15x	0.34x	0.76x	1.63x	0.07x	-0.02x	0.07x	0.86x	-0.05x
Interest Paid	191K	0	0	0	254K	118K	68K	346K	691K	962K
Taxes Paid	18K	0	0	0	28K	175K	203K	87K	59K	26K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-36.43%	-30.18%	-44.6%	-32.25%	50.86%	58.66%	9.89%	-69.84%	-41.84%	-68.56%
Return on Invested Capital (ROIC)	-35.25%	-31.15%	-45.07%	-25.16%	56.96%	17.7%	13.15%	-28.95%	-27.7%	-34.75%
Gross Margin	23.65%	24.69%	24.33%	22.13%	24.61%	25.78%	27.26%	22.63%	23.09%	25.38%
Net Margin	-29.75%	-17.5%	-21.77%	-10.15%	8.26%	22.37%	4.9%	-44.38%	-12.88%	-14.8%
Debt / Equity	0.10x	0.20x	0.17x	0.52x	0.44x	0.06x	0.05x	0.36x	0.54x	0.87x
Interest Coverage	-67.08x	-45.89x	-30.54x	-20.94x	31.07x	37.15x	104.89x	-51.23x	-12.78x	-9.36x
FCF Conversion	0.17x	0.15x	0.34x	0.76x	1.63x	0.07x	-0.02x	0.07x	0.86x	-0.05x
Revenue Growth	-6.32%	3.8%	-14.12%	9.04%	129.4%	-22.54%	6.46%	-37.79%	17.06%	-11.99%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Product	-	-	-	52.6M	-	-	-	-	63.31M	54.37M
Product Growth	-	-	-	-	-	-	-	-	-	-14.12%
Service	-	-	-	9.49M	-	-	-	-	27.27M	25.35M
Service Growth	-	-	-	-	-	-	-	-	-	-7.05%
Product Light Fixture Sales Type Lease	-	-	-	3.4M	1.4M	2.8M	1.2M	2.8M	-	-
Product Light Fixture Sales Type Lease Growth	-	-	-	-	-58.82%	100.00%	-57.14%	133.33%	-	-
Product Legacy Solar Facilities	-	-	-	100K	100K	100K	100K	100K	-	-
Product Legacy Solar Facilities Growth	-	-	-	-	0.00%	0.00%	0.00%	0.00%	-	-
Product Sale Of Tax Credit	-	-	-	200K	200K	100K	200K	100K	-	-
Product Sale Of Tax Credit Growth	-	-	-	-	0.00%	-50.00%	100.00%	-50.00%	-	-
Distribution Services	2.48M	22.86M	27.91M	-	-	-	-	-	-	-
Distribution Services Growth	-	823.18%	22.08%	-	-	-	-	-	-	-
Engineered Systems	26.32M	29.5M	23.83M	-	-	-	-	-	-	-
Engineered Systems Growth	-	12.06%	-19.23%	-	-	-	-	-	-	-
U.S. Markets	38.84M	17.85M	8.57M	-	-	-	-	-	-	-
U.S. Markets Growth	-	-54.04%	-52.01%	-	-	-	-	-	-	-
Corporate and Other	-	-	-	-	-	-	-	-	-	-
Corporate and Other Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Outside the United States	-	-	-	-	-	-	-	200K	-	-
Outside the United States Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Orion Energy Systems, Inc. (OESX) reported $79.9M in revenue for fiscal year 2024. This represents a 20% decrease from $100.6M in 2011.

Orion Energy Systems, Inc. (OESX) saw revenue decline by 12.0% over the past year.

Orion Energy Systems, Inc. (OESX) reported a net loss of $6.2M for fiscal year 2024.

Dividend & Returns

Orion Energy Systems, Inc. (OESX) has a return on equity (ROE) of -68.6%. Negative ROE indicates the company is unprofitable.

Orion Energy Systems, Inc. (OESX) generated $4.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Orion Energy Systems, Inc. (OESX) 10-Year Financial Performance & Capital Metrics

OESX • • Industrial / General

IndustrialsElectrical EquipmentLighting & Building ManagementCommercial Lighting Systems

Revenue $80M -12.0%
EBITDA -$8M +1.8%
Net Income -$12M -1.1%
EPS (Diluted) -3.60
Gross Margin 25.38% +10.0%
EBITDA Margin -10.26% -11.6%
Operating Margin -13.29% -11.2%
Net Margin -14.8% -14.9%
ROE -68.56% -63.9%
ROIC -34.75% -25.4%
Debt/Equity 0.87 +61.7%
Interest Coverage -9.36 +26.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 91 (top 9%)
✓Efficient asset utilization: 1.5x turnover

✗Weaknesses

✗Sales declining 12.0% over 5 years

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y0.99%

5Y-11.97%

3Y-13.78%

TTM-12.77%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM22.23%

EPS CAGR

10Y-

5Y-

3Y-

TTM25.05%

ROCE

10Y Avg-14.43%

5Y Avg-12.68%

3Y Avg-29.63%

Latest-34.89%

Peer Comparison

Commercial Lighting Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AYIAcuity Brands, Inc.	9.84B	320.82	25.60	13.14%	9.04%	14.69%	5.42%	0.37
OESXOrion Energy Systems, Inc.	60.94M	17.26	-4.79	-11.99%	-7.81%	-0.05%	0.81%	0.87

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	67.64M	70.21M	60.3M	65.75M	150.84M	116.84M	124.38M	77.38M	90.58M	79.72M
Revenue Growth %	-0.06%	0.04%	-0.14%	0.09%	1.29%	-0.23%	0.06%	-0.38%	0.17%	-0.12%
Cost of Goods Sold+	51.65M	52.87M	45.63M	51.2M	113.72M	86.72M	90.47M	59.87M	69.67M	59.48M
COGS % of Revenue	0.76%	0.75%	0.76%	0.78%	0.75%	0.74%	0.73%	0.77%	0.77%	0.75%
Gross Profit+	16M	17.34M	14.67M	14.55M	37.12M	30.12M	33.91M	17.51M	20.91M	20.24M
Gross Margin %	0.24%	0.25%	0.24%	0.22%	0.25%	0.26%	0.27%	0.23%	0.23%	0.25%
Gross Profit Growth %	15.07%	0.08%	-0.15%	-0.01%	1.55%	-0.19%	0.13%	-0.48%	0.19%	-0.03%
Operating Expenses+	29.62M	29.61M	26.94M	20.71M	24.01M	23.29M	25.52M	33.5M	31.73M	30.83M
OpEx % of Revenue	0.44%	0.42%	0.45%	0.31%	0.16%	0.2%	0.21%	0.43%	0.35%	0.39%
Selling, General & Admin	27.96M	27.61M	25.04M	19.34M	22.3M	21.6M	23.31M	30.88M	29.73M	29.6M
SG&A % of Revenue	0.41%	0.39%	0.42%	0.29%	0.15%	0.18%	0.19%	0.4%	0.33%	0.37%
Research & Development	1.67M	2M	1.91M	1.37M	1.72M	1.69M	1.7M	1.85M	1.5M	1.23M
R&D % of Revenue	0.02%	0.03%	0.03%	0.02%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%
Other Operating Expenses	0	215K	248K	80K	0	0	512K	765K	512K	0
Operating Income+	-19.92M	-12.53M	-12.98M	-6.16M	13.11M	6.84M	8.39M	-15.98M	-10.82M	-10.6M
Operating Margin %	-0.29%	-0.18%	-0.22%	-0.09%	0.09%	0.06%	0.07%	-0.21%	-0.12%	-0.13%
Operating Income Growth %	0.38%	0.37%	-0.04%	0.53%	3.13%	-0.48%	0.23%	-2.91%	0.32%	0.02%
EBITDA+	-15.64M	-10.2M	-10.97M	-4.37M	14.67M	8.32M	9.95M	-13.96M	-8.33M	-8.18M
EBITDA Margin %	-0.23%	-0.15%	-0.18%	-0.07%	0.1%	0.07%	0.08%	-0.18%	-0.09%	-0.1%
EBITDA Growth %	0.43%	0.35%	-0.08%	0.6%	4.35%	-0.43%	0.2%	-2.4%	0.4%	0.02%
D&A (Non-Cash Add-back)	4.28M	2.33M	2.01M	1.78M	1.56M	1.48M	1.55M	2.02M	2.5M	2.41M
EBIT	-19.79M	-12.39M	-12.72M	-6.17M	12.9M	6.64M	8.33M	-16.02M	-10.88M	-10.73M
Net Interest Income+	-169K	-237K	-410K	-283K	-417K	-184K	-80K	-278K	-845K	-1.13M
Interest Income	128K	36K	15K	11K	5K	0	0	34K	2K	7K
Interest Expense	297K	273K	425K	294K	422K	184K	80K	312K	847K	1.13M
Other Income/Expense	-169K	-22K	-162K	-503K	-489K	-318K	-141K	-378K	-806K	-1.16M
Pretax Income+	-20.09M	-12.55M	-13.14M	-6.66M	12.62M	6.52M	8.25M	-16.36M	-11.63M	-11.76M
Pretax Margin %	-0.3%	-0.18%	-0.22%	-0.1%	0.08%	0.06%	0.07%	-0.21%	-0.13%	-0.15%
Income Tax+	36K	-261K	-15K	14K	159K	-19.62M	2.16M	17.98M	41K	42K
Effective Tax Rate %	1%	0.98%	1%	1%	0.99%	4.01%	0.74%	2.1%	1%	1%
Net Income+	-20.13M	-12.29M	-13.13M	-6.67M	12.46M	26.13M	6.09M	-34.34M	-11.67M	-11.8M
Net Margin %	-0.3%	-0.18%	-0.22%	-0.1%	0.08%	0.22%	0.05%	-0.44%	-0.13%	-0.15%
Net Income Growth %	0.37%	0.39%	-0.07%	0.49%	2.87%	1.1%	-0.77%	-6.64%	0.66%	-0.01%
Net Income (Continuing)	-20.13M	-12.29M	-13.13M	-6.67M	12.46M	26.13M	6.09M	-34.34M	-11.67M	-11.8M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-7.30	-4.40	-4.60	-2.30	4.00	8.30	1.90	-10.80	-3.60	-3.60
EPS Growth %	0.49%	0.4%	-0.05%	0.5%	2.74%	1.07%	-0.77%	-6.68%	0.67%	0%
EPS (Basic)	-7.30	-4.40	-4.60	-2.30	4.10	8.50	2.00	-10.80	-3.60	-3.60
Diluted Shares Outstanding	2.76M	2.82M	2.88M	2.94M	3.1M	3.13M	3.13M	3.17M	3.25M	3.28M
Basic Shares Outstanding	2.76M	2.79M	2.85M	2.9M	3.01M	3.06M	3.1M	3.17M	3.25M	3.28M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	51.13M	43.88M	29.45M	41.38M	54.97M	56.53M	51.25M	50.36M	44.82M	35.5M
Cash & Short-Term Investments	15.54M	17.31M	9.42M	8.73M	28.75M	19.39M	14.47M	15.99M	5.16M	5.97M
Cash Only	15.54M	17.31M	9.42M	8.73M	28.75M	19.39M	14.47M	15.99M	5.16M	5.97M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	15.2M	11.4M	10.65M	18.55M	10.99M	16.5M	15.91M	15.05M	18.56M	16.2M
Days Sales Outstanding	82	59.25	64.44	102.97	26.59	51.55	46.68	70.98	74.79	74.15
Inventory	17.02M	13.59M	7.83M	13.4M	14.51M	19.55M	19.83M	18.2M	18.25M	11.39M
Days Inventory Outstanding	120.32	93.84	62.6	95.55	46.56	82.31	80.01	110.98	95.59	69.9
Other Current Assets	37K	935K	1M	0	0	0	0	0	1.6M	639K
Total Non-Current Assets+	19.75M	18.17M	15.87M	14.64M	17.59M	36.29M	35.57M	21.22M	18.35M	16.96M
Property, Plant & Equipment	14.4M	13.79M	12.89M	12.01M	11.82M	13.95M	13.91M	10.47M	11.36M	8.03M
Fixed Asset Turnover	4.70x	5.09x	4.68x	5.47x	12.76x	8.37x	8.94x	7.39x	7.97x	9.93x
Goodwill	0	0	0	0	0	0	350K	1.48M	1.48M	1.48M
Intangible Assets	5.05M	4.21M	2.87M	2.47M	2.22M	1.95M	2.4M	6M	4.46M	3.38M
Long-Term Investments	112K	9K	0	0	0	0	0	0	0	0
Other Non-Current Assets	293K	175K	110K	165K	3.56M	599K	1.1M	3.26M	1.04M	4.08M
Total Assets+	70.88M	62.05M	45.33M	56.02M	72.56M	92.82M	86.82M	71.58M	63.17M	52.46M
Asset Turnover	0.95x	1.13x	1.33x	1.17x	2.08x	1.26x	1.43x	1.08x	1.43x	1.52x
Asset Growth %	-0.19%	-0.12%	-0.27%	0.24%	0.3%	0.28%	-0.06%	-0.18%	-0.12%	-0.17%
Total Current Liabilities+	19.29M	18.4M	16.42M	27.34M	27.2M	30.37M	18.37M	24.45M	28.05M	26.84M
Accounts Payable	11.72M	11.63M	11.68M	19.71M	19.83M	17.05M	9.86M	13.4M	18.35M	13.27M
Days Payables Outstanding	82.8	80.32	93.39	140.48	63.66	71.74	39.76	81.72	96.14	81.44
Short-Term Debt	746K	152K	79K	96K	35K	14K	16K	17K	3K	353K
Deferred Revenue (Current)	241K	621K	499K	123K	107K	87K	76K	480K	260K	491K
Other Current Liabilities	3.88M	3.34M	2.38M	6.2M	2M	2.31M	1.02M	1.48M	6.2M	2.52M
Current Ratio	2.65x	2.39x	1.79x	1.51x	2.02x	1.86x	2.79x	2.06x	1.60x	1.32x
Quick Ratio	1.77x	1.65x	1.32x	1.02x	1.49x	1.22x	1.71x	1.31x	0.95x	0.90x
Cash Conversion Cycle	119.51	72.77	33.65	58.04	9.49	62.11	86.93	100.24	74.25	62.61
Total Non-Current Liabilities+	5.6M	8.21M	5.48M	10.72M	14.32M	4.38M	3.34M	13.88M	12.57M	13.73M
Long-Term Debt	4.02M	6.82M	3.91M	81K	10.06M	35K	19K	10M	10M	9.97M
Capital Lease Obligations	0	0	105K	0	2.83M	2.64M	2.27M	1.83M	1.12M	0
Deferred Tax Liabilities	0	0	129K	130K	0	0	0	0	0	0
Other Non-Current Liabilities	558K	442K	524K	9.84M	716K	1.06M	489K	1.56M	1.04M	3.43M
Total Liabilities	24.89M	26.6M	21.9M	38.05M	41.53M	34.75M	21.72M	38.33M	40.63M	40.58M
Total Debt+	4.77M	6.97M	4.09M	9.38M	13.62M	3.34M	3.07M	11.85M	12.11M	10.32M
Net Debt	-10.77M	-10.34M	-5.33M	650K	-15.13M	-16.05M	-11.39M	-4.15M	6.96M	4.35M
Debt / Equity	0.10x	0.20x	0.17x	0.52x	0.44x	0.06x	0.05x	0.36x	0.54x	0.87x
Debt / EBITDA	-	-	-	-	0.93x	0.40x	0.31x	-	-	-
Net Debt / EBITDA	-	-	-	-	-1.03x	-1.93x	-1.15x	-	-	-
Interest Coverage	-67.08x	-45.89x	-30.54x	-20.94x	31.07x	37.15x	104.89x	-51.23x	-12.78x	-9.36x
Total Equity+	45.98M	35.45M	23.42M	17.97M	31.04M	58.07M	65.1M	33.25M	22.54M	11.88M
Equity Growth %	-0.29%	-0.23%	-0.34%	-0.23%	0.73%	0.87%	0.12%	-0.49%	-0.32%	-0.47%
Book Value per Share	16.64	12.59	8.14	6.11	10.02	18.55	20.80	10.49	6.94	3.62
Total Shareholders' Equity	45.98M	35.45M	23.42M	17.97M	31.04M	58.07M	65.1M	33.25M	22.54M	11.88M
Common Stock	0	0	0	0	0	0	0	0	0	0
Retained Earnings	-70.08M	-82.37M	-95.49M	-101.77M	-89.31M	-63.17M	-57.08M	-91.42M	-103.09M	-114.89M
Treasury Stock	-36.08M	-36.08M	-36.09M	-36.09M	-36.16M	-36.24M	-36.24M	-36.24M	-36.23M	-36.25M
Accumulated OCI	-18.58M	-19.95M	-21.3M	-22.48M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-3.44M	-1.9M	-4.42M	-5.06M	20.34M	1.73M	-113K	-2.29M	-10.09M	599K
Operating CF Margin %	-0.05%	-0.03%	-0.07%	-0.08%	0.13%	0.01%	-0%	-0.03%	-0.11%	0.01%
Operating CF Growth %	0.73%	0.45%	-1.32%	-0.15%	5.02%	-0.92%	-1.07%	-19.27%	-3.41%	1.06%
Net Income	-20.13M	-12.29M	-13.13M	-6.67M	12.46M	26.13M	6.09M	-34.34M	-11.67M	-11.8M
Depreciation & Amortization	4.28M	2.33M	2.01M	1.78M	1.56M	1.48M	1.55M	2.02M	2.5M	2.41M
Stock-Based Compensation	1.46M	1.6M	1.1M	825K	618K	753K	813K	1.61M	950K	1.16M
Deferred Taxes	7.18M	2.6M	1.99M	-146K	0	-19.86M	1.98M	17.88M	-5K	7K
Other Non-Cash Items	144K	177K	-94K	158K	515K	629K	644K	889K	1.45M	1.44M
Working Capital Changes	3.62M	3.68M	3.7M	-1M	5.19M	-7.41M	-11.2M	9.65M	-3.31M	7.38M
Change in Receivables	7.12M	1.69M	419K	-5.84M	6.8M	-4.75M	5.26M	840K	0	1.99M
Change in Inventory	-3.25M	1.22M	4.71M	-4.69M	-1.32M	-5.32M	-420K	1.88M	0	6.11M
Change in Payables	-254K	-81K	20K	8.92M	-79K	-2.64M	-8.13M	2.37M	4.99M	-5.08M
Cash from Investing+	-427K	1.65M	-585K	-449K	-936K	-946K	-4.92M	-6.2M	-731K	128K
Capital Expenditures	-427K	-951K	-585K	-449K	-814K	-902K	-518K	-586K	-837K	-99K
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0.01%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	29K	2.6M	-73K	-68K	-122K	-44K	112K	-9K	106K	227K
Cash from Financing+	-595K	2.02M	-2.88M	4.81M	615K	-10.14M	104K	10.01M	-14K	90K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	102K	8K	6K	-392K	-104K	-93K	118K	27K	-2K	-216K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-3.87M	-2.85M	-5M	-5.51M	19.4M	776K	-641K	-2.89M	-10.93M	494K
FCF Margin %	-0.06%	-0.04%	-0.08%	-0.08%	0.13%	0.01%	-0.01%	-0.04%	-0.12%	0.01%
FCF Growth %	0.74%	0.26%	-0.75%	-0.1%	4.52%	-0.96%	-1.83%	-3.5%	-2.79%	1.05%
FCF per Share	-1.40	-1.01	-1.74	-1.87	6.26	0.25	-0.20	-0.91	-3.36	0.15
FCF Conversion (FCF/Net Income)	0.17x	0.15x	0.34x	0.76x	1.63x	0.07x	-0.02x	0.07x	0.86x	-0.05x
Interest Paid	191K	0	0	0	254K	118K	68K	346K	691K	962K
Taxes Paid	18K	0	0	0	28K	175K	203K	87K	59K	26K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-36.43%	-30.18%	-44.6%	-32.25%	50.86%	58.66%	9.89%	-69.84%	-41.84%	-68.56%
Return on Invested Capital (ROIC)	-35.25%	-31.15%	-45.07%	-25.16%	56.96%	17.7%	13.15%	-28.95%	-27.7%	-34.75%
Gross Margin	23.65%	24.69%	24.33%	22.13%	24.61%	25.78%	27.26%	22.63%	23.09%	25.38%
Net Margin	-29.75%	-17.5%	-21.77%	-10.15%	8.26%	22.37%	4.9%	-44.38%	-12.88%	-14.8%
Debt / Equity	0.10x	0.20x	0.17x	0.52x	0.44x	0.06x	0.05x	0.36x	0.54x	0.87x
Interest Coverage	-67.08x	-45.89x	-30.54x	-20.94x	31.07x	37.15x	104.89x	-51.23x	-12.78x	-9.36x
FCF Conversion	0.17x	0.15x	0.34x	0.76x	1.63x	0.07x	-0.02x	0.07x	0.86x	-0.05x
Revenue Growth	-6.32%	3.8%	-14.12%	9.04%	129.4%	-22.54%	6.46%	-37.79%	17.06%	-11.99%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Product	-	-	-	52.6M	-	-	-	-	63.31M	54.37M
Product Growth	-	-	-	-	-	-	-	-	-	-14.12%
Service	-	-	-	9.49M	-	-	-	-	27.27M	25.35M
Service Growth	-	-	-	-	-	-	-	-	-	-7.05%
Product Light Fixture Sales Type Lease	-	-	-	3.4M	1.4M	2.8M	1.2M	2.8M	-	-
Product Light Fixture Sales Type Lease Growth	-	-	-	-	-58.82%	100.00%	-57.14%	133.33%	-	-
Product Legacy Solar Facilities	-	-	-	100K	100K	100K	100K	100K	-	-
Product Legacy Solar Facilities Growth	-	-	-	-	0.00%	0.00%	0.00%	0.00%	-	-
Product Sale Of Tax Credit	-	-	-	200K	200K	100K	200K	100K	-	-
Product Sale Of Tax Credit Growth	-	-	-	-	0.00%	-50.00%	100.00%	-50.00%	-	-
Distribution Services	2.48M	22.86M	27.91M	-	-	-	-	-	-	-
Distribution Services Growth	-	823.18%	22.08%	-	-	-	-	-	-	-
Engineered Systems	26.32M	29.5M	23.83M	-	-	-	-	-	-	-
Engineered Systems Growth	-	12.06%	-19.23%	-	-	-	-	-	-	-
U.S. Markets	38.84M	17.85M	8.57M	-	-	-	-	-	-	-
U.S. Markets Growth	-	-54.04%	-52.01%	-	-	-	-	-	-	-
Corporate and Other	-	-	-	-	-	-	-	-	-	-
Corporate and Other Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Outside the United States	-	-	-	-	-	-	-	200K	-	-
Outside the United States Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Orion Energy Systems, Inc. (OESX) reported $79.9M in revenue for fiscal year 2024. This represents a 20% decrease from $100.6M in 2011.

Orion Energy Systems, Inc. (OESX) saw revenue decline by 12.0% over the past year.

Orion Energy Systems, Inc. (OESX) reported a net loss of $6.2M for fiscal year 2024.

Dividend & Returns

Orion Energy Systems, Inc. (OESX) has a return on equity (ROE) of -68.6%. Negative ROE indicates the company is unprofitable.

Orion Energy Systems, Inc. (OESX) generated $4.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.