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STEM logoStem, Inc.(STEM)Earnings, Financials & Key Ratios

STEM•NYSE
$10.58
$90M mkt cap·Price updated May 6, 2026
SectorTechnologyIndustryInfrastructure SoftwareSub-IndustryVertical software and industry platforms
AboutStem, Inc. operates as a digitally connected and intelligent energy storage network provider in the United States and internationally. It offers energy storage systems sourced from original equipment manufacturers (OEMs). The company also provides Athena, an artificial intelligence platform, which offers battery hardware and software-enabled services to operate the energy storage systems. In addition, it offers system design and engineering services, supply chain management, energy storage value stream optimization, warranty and preventive maintenance plan management, operation and maintenance reporting, and program enrollment and incentive management services. The company serves commercial and industrial enterprises, independent power producers, renewable project developers, and utilities and grid operators. Stem, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.Show more
  • Revenue$156M+8.1%
  • EBITDA-$12M+98.5%
  • Net Income$138M+116.1%
  • EPS (Diluted)-9.18+91.3%
  • Gross Margin38.37%+601.7%
  • EBITDA Margin-7.62%+98.6%
  • Operating Margin-38.71%+93.3%
  • Net Margin88.16%+114.9%
  • ROIC-80.62%+39.4%
  • Interest Coverage-2.53+94.5%
Technical→

STEM Key Insights

Stem, Inc. (STEM) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 33.9%

✗Weaknesses

  • ✗Weak momentum: RS Rating 17 (bottom 17%)
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

STEM Price & Volume

Stem, Inc. (STEM) stock price & volume — 10-year historical chart

Loading chart...

STEM Growth Metrics

Stem, Inc. (STEM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years33.9%
3 Years-24.49%
TTM8.08%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM116.13%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM90.94%

Return on Capital

10 Years-57.48%
5 Years-36.98%
3 Years-52.81%
Last Year-23.87%

STEM Recent Earnings

Stem, Inc. (STEM) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
Mar 4, 2026
EPS
$1.85
Est $1.96
+5.6%
Revenue
$47M
Est $37M
+29.1%
Q4 2025
Oct 29, 2025
EPS
$2.84
Est $1.85
-53.5%
Revenue
$38M
Est $44M
-12.4%
Q3 2025
Aug 7, 2025
EPS
$3.73
Est $3.00
-24.3%
Revenue
$38M
Est $41M
-6.5%
Q2 2025
Apr 29, 2025
EPS
$3.00
Est $4.00
+25.0%
Revenue
$33M
Est $32M
+1.6%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 4, 2026
$1.85vs $1.96+5.6%
$47Mvs $37M+29.1%
Q4 2025Oct 29, 2025
$2.84vs $1.85-53.5%
$38Mvs $44M-12.4%
Q3 2025Aug 7, 2025
$3.73vs $3.00-24.3%
$38Mvs $41M-6.5%
Q2 2025Apr 29, 2025
$3.00vs $4.00+25.0%
$33Mvs $32M+1.6%
Based on last 12 quarters of dataView full earnings history →

STEM Peer Comparison

Stem, Inc. (STEM) competitors in Vertical software and industry platforms — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
FLUX logoFLUXFlux Power Holdings, Inc.Direct Competitor27.74M1.30-3.259.22%-8.36%-67.4%
NRGV logoNRGVEnergy Vault Holdings, Inc.Direct Competitor870.06M5.03-7.74340.86%-52.97%-146.8%1.07
GREE logoGREEGreenidge Generation Holdings Inc.Direct Competitor18.34M1.17-0.62-15.42%-33.23%
GNRC logoGNRCGenerac Holdings Inc.Product Competitor15.47B263.6898.02-2.02%4.37%7.18%1.73%0.51
BE logoBEBloom Energy CorporationProduct Competitor70.98B295.25-797.9737.33%0.25%0.79%0.08%3.77
FCEL logoFCELFuelCell Energy, Inc.Product Competitor712.86M13.55-1.8341.05%-107.98%-26.76%0.20
SHLS logoSHLSShoals Technologies Group, Inc.Product Competitor1.36B8.1340.6519.07%6.27%5.67%0.29
ARRY logoARRYArray Technologies, Inc.Product Competitor1.25B8.18-11.2140.22%-4.07%-20.06%0.41

Compare STEM vs Peers

Stem, Inc. (STEM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FLUX

Most directly comparable listed peer for STEM.

Scale Benchmark

vs TSLA

Larger-name benchmark to compare STEM against a more recognizable public peer.

Peer Set

Compare Top 5

vs FLUX, NRGV, GREE, GNRC

STEM Income Statement

Stem, Inc. (STEM) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue7.03M17.55M36.31M127.37M362.98M461.51M144.58M156.27M
Revenue Growth %-149.6%106.85%250.82%184.98%27.15%-68.67%8.08%
Cost of Goods Sold9.69M20.81M40.22M126.12M329.89M457.85M155.64M96.31M
COGS % of Revenue137.8%118.57%110.77%99.02%90.88%99.21%107.65%61.63%
Gross Profit
-2.66M▲ 0%
-3.26M▼ 22.6%
-3.91M▼ 20.0%
1.25M▲ 131.9%
33.09M▲ 2553.7%
3.67M▼ 88.9%
-11.06M▼ 401.7%
59.96M▲ 642.2%
Gross Margin %-37.8%-18.57%-10.77%0.98%9.12%0.79%-7.65%38.37%
Gross Profit Growth %--22.65%-20%131.88%2553.73%-88.92%-401.72%642.2%
Operating Expenses8.15K44.59M45.48M84.32M164.21M182.98M828.4M115.64M
OpEx % of Revenue0.12%254.05%125.25%66.2%45.24%39.65%572.95%74%
Selling, General & Admin3.45K29.89M29.53M61.6M125.91M126.47M125.83M80.35M
SG&A % of Revenue0.05%170.28%81.35%48.36%34.69%27.4%87.03%51.42%
Research & Development12.68M14.7M15.94M22.72M38.3M56.51M51.28M35.3M
R&D % of Revenue180.28%83.77%43.91%17.84%10.55%12.24%35.47%22.59%
Other Operating Expenses-4.7K00000651.29M0
Operating Income
-8.15K▲ 0%
-47.85M▼ 587016.6%
-49.39M▼ 3.2%
-83.07M▼ 68.2%
-131.12M▼ 57.8%
-179.31M▼ 36.8%
-839.46M▼ 368.1%
-60.49M▲ 92.8%
Operating Margin %-0.12%-272.62%-136.03%-65.22%-36.12%-38.85%-580.6%-38.71%
Operating Income Growth %--587016.56%-3.21%-68.21%-57.84%-36.75%-368.15%92.79%
EBITDA4.89M-33.96M-31.06M-62.25M-90.05M-133.48M-795.12M-11.9M
EBITDA Margin %69.59%-193.49%-85.55%-48.87%-24.81%-28.92%-549.94%-7.62%
EBITDA Growth %--793.95%8.54%-100.4%-44.66%-48.23%-495.68%98.5%
D&A (Non-Cash Add-back)4.9M13.89M18.32M20.82M41.07M45.83M44.34M48.58M
EBIT-8.14K-47.55M-135.31M-83.82M-128.75M-125M-835.39M-60.49M
Net Interest Income0-12.55M-20.81M-17.39M-10.47M-14.98M-18.29M-23.93M
Interest Income5.53M0000000
Interest Expense012.55M20.81M17.39M10.47M14.98M18.29M23.93M
Other Income/Expense-49.03M-11.56M-106.73M-18.14M-8.09M39.33M-14.23M198.78M
Pretax Income
-8.14K▲ 0%
-59.41M▼ 729369.5%
-156.12M▼ 162.8%
-101.21M▲ 35.2%
-139.22M▼ 37.5%
-139.98M▼ 0.5%
-853.68M▼ 509.9%
138.3M▲ 116.2%
Pretax Margin %-0.12%-338.47%-430%-79.46%-38.35%-30.33%-590.44%88.5%
Income Tax13K6K5K0-15.16M433K332K536K
Effective Tax Rate %-159.63%-0.01%-0%0%10.89%-0.31%-0.04%0.39%
Net Income
-8.14K▲ 0%
-59.41M▼ 729443.2%
-156.12M▼ 162.8%
-101.21M▲ 35.2%
-124.05M▼ 22.6%
-140.41M▼ 13.2%
-854.01M▼ 508.2%
137.76M▲ 116.1%
Net Margin %-0.12%-338.5%-430.01%-79.46%-34.18%-30.42%-590.67%88.16%
Net Income Growth %--729443.22%-162.77%35.17%-22.57%-13.19%-508.22%116.13%
Net Income (Continuing)-8.14K-59.41M-156.12M-101.21M-124.05M-140.41M-854.01M137.76M
Discontinued Operations00000000
Minority Interest0000541K485K541K383K
EPS (Diluted)
-0.00▲ 0%
-0.00▼ 29.4%
-77.94▼ 1771263.6%
-19.18▲ 75.4%
-16.17▲ 15.7%
-18.05▼ 11.6%
-105.80▼ 486.1%
-9.18▲ 91.3%
EPS Growth %---75.39%15.69%-11.63%-486.15%91.32%
EPS (Basic)-0.00-0.00-77.94-19.18-16.17-18.05-105.8016.52
Diluted Shares Outstanding2.4M2.4M2M5.28M7.67M7.78M8.07M8.49M
Basic Shares Outstanding2.4M2.4M2M5.28M7.67M7.78M8.07M8.34M
Dividend Payout Ratio--------

STEM Balance Sheet

Stem, Inc. (STEM) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets159.67K28.8M49.28M1.02B532.75M472.96M136.62M100.09M
Cash & Short-Term Investments159.67K12.89M6.94M920.79M249.98M113.59M56.3M48.91M
Cash Only159.67K12.89M6.94M747.78M87.9M105.38M56.3M48.91M
Short-Term Investments000173.01M162.07M8.22M00
Accounts Receivable1.5M6.62M13.7M61.91M223.29M302.92M59.36M38.35M
Days Sales Outstanding77.86137.64137.68177.42224.54239.57149.8689.58
Inventory2.01M3.58M20.84M22.72M8.37M26.66M10.92M4.59M
Days Inventory Outstanding75.662.79189.1665.759.2721.2625.6117.38
Other Current Assets27.26M4.84M7.1M15.29M45.35M23.66M4.2M8.24M
Total Non-Current Assets322.08K159.25M156.57M167.98M889.14M884.01M300.74M208.8M
Property, Plant & Equipment103.17M132.59M124.11M119.62M105.35M89.49M73.51M9.57M
Fixed Asset Turnover0.07x0.13x0.29x1.06x3.45x5.16x1.97x16.33x
Goodwill1.63M1.7M1.74M1.74M546.65M547.21M00
Intangible Assets8.66M10.7M12.09M13.97M162.26M157.15M143.91M123.03M
Long-Term Investments767K843K744K1.92M1.97M2.09M2.25M6.18M
Other Non-Current Assets322.08K13.43M17.9M30.73M72.91M88.08M81.07M70.02M
Total Assets
481.75K▲ 0%
188.05M▲ 38934.1%
205.85M▲ 9.5%
1.19B▲ 479.0%
1.42B▲ 19.3%
1.36B▼ 4.6%
437.36M▼ 67.8%
308.89M▼ 29.4%
Asset Turnover14.60x0.09x0.18x0.11x0.26x0.34x0.33x0.51x
Asset Growth %-38934.15%9.47%478.98%19.3%-4.57%-67.77%-29.37%
Total Current Liabilities464.89K109.35M190.51M87.97M267M251.08M128.8M110.56M
Accounts Payable012.69M13.75M28.27M83.83M78.28M30.15M10.31M
Days Payables Outstanding-222.57124.7881.8292.7562.470.739.07
Short-Term Debt175K70.19M101.27M15.28M00016.79M
Deferred Revenue (Current)-4.89M036.94M9.16M64.31M54M43.26M43.63M
Other Current Liabilities-13.75M12.94M15.77M275K17.87M24.58M20.16M39.84M
Current Ratio0.34x0.26x0.26x11.64x2.00x1.88x1.06x0.91x
Quick Ratio-3.97x0.23x0.15x11.38x1.96x1.78x0.98x0.86x
Cash Conversion Cycle--22.14202.06161.35141.05198.43104.7767.89
Total Non-Current Liabilities70.14M97.14M192.74M436.04M602.73M679.22M706.39M447.38M
Long-Term Debt53.84M81.21M4.61M318.23M449.51M523.63M525.92M322.25M
Capital Lease Obligations1.26M390K57K12.18M10.96M10.46M13.34M39.45M
Deferred Tax Liabilities00000000
Other Non-Current Liabilities15.03M15.54M172.61M77.34M68.49M56.48M81.23M10.29M
Total Liabilities464.89K206.49M383.26M524M869.73M930.3M835.19M557.95M
Total Debt175K152.44M106.28M346.93M463.05M537.04M542.02M322.25M
Net Debt15.33K139.55M99.33M-400.85M375.14M431.66M485.72M273.33M
Debt / Equity10.38x--0.52x0.84x1.26x--
Debt / EBITDA0.04x-------
Net Debt / EBITDA0.00x-------
Interest Coverage--3.81x-2.37x-4.78x-12.53x-11.97x-45.89x-2.53x
Total Equity
16.86K▲ 0%
-18.44M▼ 109485.4%
-177.41M▼ 862.2%
667.83M▲ 476.4%
552.17M▼ 17.3%
426.68M▼ 22.7%
-397.83M▼ 193.2%
-248.68M▲ 37.5%
Equity Growth %--109485.38%-862.19%476.43%-17.32%-22.73%-193.24%37.49%
Book Value per Share0.01-7.69-88.56126.5371.9854.85-49.28-29.29
Total Shareholders' Equity16.86K-18.44M-177.41M667.83M551.63M426.2M-398.37M-249.06M
Common Stock1.01K04K14K15K16K16K1K
Retained Earnings-8.14K-259.05M-407.84M-509.05M-632.08M-772.49M-1.63B-1.49B
Treasury Stock00000000
Accumulated OCI-220.63M54K-192K20K-1.67M-42K76K41K
Minority Interest0000541K485K541K383K

STEM Cash Flow Statement

Stem, Inc. (STEM) cash flow — operating, investing & free cash flow history

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-2.58K-29.68M-33.67M-101.27M-106.03M-207.38M-36.65M6.86M
Operating CF Margin %-0.04%-169.09%-92.74%-79.5%-29.21%-44.93%-25.35%4.39%
Operating CF Growth %--1151102.48%-13.45%-200.75%-4.7%-95.58%82.33%118.72%
Net Income-8.14K-59.41M-156.12M-101.21M-124.05M-140.41M-854.01M137.76M
Depreciation & Amortization4.9M13.89M17.74M24.47M41.07M46.27M44.99M44.95M
Stock-Based Compensation1.26M1.53M4.54M13.55M045.11M18.47M10.22M
Deferred Taxes0-1.2M85.72M10.74M0-335K00
Other Non-Cash Items-8715.89M10.85M10.72M29.21M-40.46M694.14M-216.43M
Working Capital Changes5.57K9.62M3.6M-59.54M-52.26M-117.55M59.77M30.37M
Change in Receivables-203K-5.11M-6.99M-48.13M-155.82M-80.89M133.06M17.73M
Change in Inventory1.23M-1.55M-17.26M-1.88M18.61M-18.29M2.77M6.33M
Change in Payables8718.58M-1.27M8.05M53.26M-5.24M-48.15M-19.85M
Cash from Investing-64.38M-46.36M-12.04M-185.23M-543.83M135.73M-3.52M-6.76M
Capital Expenditures-55.53M-46.36M-12.04M-10.17M-20.87M-4.14M-217K-6.6M
CapEx % of Revenue789.68%264.12%33.15%7.99%5.75%0.9%0.15%4.22%
Acquisitions-3.59M000-532.47M-1.85M0-158K
Investments--------
Other Investing-5.26M0000-14.01M-11.55M0
Cash from Financing162.25K67.2M40.29M1.03B-9.81M90.24M-8.44M-7.41M
Debt Issued (Net)41.59M42.16M34.34M409.31M-8.79M130.54M-8.49M-7.41M
Equity Issued (Net)25K0422K1000K1000K000
Dividends Paid00000000
Share Repurchases00000000
Other Financing-41.45M25.04M5.53M469.25M-2.3M-40.31M56K0
Net Change in Cash
-64.22M▲ 0%
-9.01M▲ 86.0%
-5.95M▲ 34.0%
740.84M▲ 12557.3%
-659.88M▼ 189.1%
18.57M▲ 102.8%
-48.39M▼ 360.6%
-7.38M▲ 84.7%
Free Cash Flow
-55.53M▲ 0%
-76.04M▼ 36.9%
-45.71M▲ 39.9%
-111.44M▼ 143.8%
-110.13M▲ 1.2%
-225.61M▼ 104.9%
-48.42M▲ 78.5%
6.86M▲ 114.2%
FCF Margin %-789.71%-433.2%-125.89%-87.49%-30.34%-48.89%-33.49%4.39%
FCF Growth %--36.92%39.89%-143.81%1.17%-104.86%78.54%114.17%
FCF per Share-23.16-31.72-22.82-21.11-14.36-29.00-6.000.81
FCF Conversion (FCF/Net Income)0.32x0.50x0.22x1.00x0.85x1.48x0.04x0.05x
Interest Paid0000014.59M16.2M0
Taxes Paid00000235K680K0

STEM Key Ratios

Stem, Inc. (STEM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20182019202020212022202320242025
Return on Equity (ROE)-48.32%---41.28%-20.34%-28.69%-5920.78%-
Return on Invested Capital (ROIC)-18.99%-59.25%-172.15%-65.97%-16.47%-15.06%-133.07%-80.62%
Gross Margin-37.8%-18.57%-10.77%0.98%9.12%0.79%-7.65%38.37%
Net Margin-0.12%-338.5%-430.01%-79.46%-34.18%-30.42%-590.67%88.16%
Debt / Equity10.38x--0.52x0.84x1.26x--
Interest Coverage--3.81x-2.37x-4.78x-12.53x-11.97x-45.89x-2.53x
FCF Conversion0.32x0.50x0.22x1.00x0.85x1.48x0.04x0.05x
Revenue Growth-149.6%106.85%250.82%184.98%27.15%-68.67%8.08%

STEM Frequently Asked Questions

Stem, Inc. (STEM) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Stem, Inc. (STEM) reported $156.3M in revenue for fiscal year 2025. This represents a 2122% increase from $7.0M in 2018.

Stem, Inc. (STEM) grew revenue by 8.1% over the past year. This is steady growth.

Yes, Stem, Inc. (STEM) is profitable, generating $137.8M in net income for fiscal year 2025 (88.2% net margin).

Dividend & Returns

Stem, Inc. (STEM) had negative free cash flow of $4.1M in fiscal year 2025, likely due to heavy capital investments.

Explore More STEM

Stem, Inc. (STEM) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

→

Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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