The company's financial position appears increasingly precarious, with a debt-to-equity ratio that has climbed to 2.71 while equity reserves continue to erode.
| Total Assets | 135.07M | 138.35M | 39.23M | 24.97M | 9.19M | 10.28M |
| Asset Growth % | 170.59% | 252.7% | 57.09% | 171.57% | -10.59% | - |
| PP&E (Net) | 45.66M | 74.72M | 4.54M | 1.09M | 211.43K | 28.52K |
| PP&E / Total Assets % | 33.81% | 54.01% | 11.57% | 4.38% | 2.3% | 0.28% |
| Total Current Assets | 36.79M | 41.32M | 17.63M | 22.05M | 8.98M | 10.25M |
| Cash & Equivalents | 13.26M | 7.62M | 5.27M | 749.43K | 931.98K | 1.4M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Inventory | 16.23M | 9M | 6.53M | 448.72K | 195.92K | 593.78K |
| Other Current Assets | 3.19M | 4.84M | 0 | 0 | 3.59M | 2.6M |
| Long-Term Investments | 10.87M | 0 | 5.15M | 722.51K | 0 | 0 |
| Goodwill | 2.77M | 2.77M | 438.76K | 0 | 0 | 0 |
| Intangible Assets | 43.58M | 14.04M | 10.91M | 1.11M | 0 | 0 |
| Other Assets | 513.32K | 5.51M | 554.36K | 0 | 0 | 0 |
| Total Liabilities | 103.63M | 118.59M | 20.5M | 8.34M | 4.75M | 5.87M |
| Total Debt | 79.31M | 75.38M | 7.28M | 1.08M | 2.11M | 2.55M |
| Net Debt | 66.04M | 67.75M | 2.01M | 334.25K | 1.18M | 1.15M |
| Long-Term Debt | 58.9M | 53.79M | 4.38M | 759.26K | 1.23M | 1.02M |
| Short-Term Borrowings | 13.63M | 13.9M | 1.76M | 151.11K | 678.77K | 1.53M |
| Capital Lease Obligations | 29.21M | 7.68M | 1.14M | 173.31K | 202.7K | 0 |
| Total Current Liabilities | 26.03M | 43.11M | 13.39M | 7.08M | 3.37M | 4.73M |
| Accounts Payable | 7.4M | 15.15M | 3M | 1.54M | 1.95M | 2.81M |
| Accrued Expenses | 6.74M | 4.59M | 0 | 0 | 0 | 0 |
| Deferred Revenue | 1.67M | 0 | 4.6M | 1.15M | 16.28K | 0 |
| Other Current Liabilities | 438.47K | 8.47M | 0 | 0 | 0 | 393.73K |
| Deferred Taxes | 10.76M | 0 | 1000K | 0 | 0 | 0 |
| Other Liabilities | 6.57M | 15M | 366.37K | 366.86K | 3.43K | 121.76K |
| Total Equity | 29.28M | 19.76M | 18.72M | 16.63M | 4.44M | 4.41M |
| Equity Growth % | -169.46% | 5.53% | 12.59% | 274.52% | 0.71% | - |
| Shareholders Equity | 28.77M | 19.24M | 16.36M | 16.39M | 4.49M | 4.45M |
| Minority Interest | 514.32K | 519K | 2.36M | 238.41K | -44.72K | -44.72K |
| Common Stock | 67.39M | 45.28M | 9.03M | 6.86M | 1K | 1K |
| Additional Paid-in Capital | 1.32M | 1.95M | 4.06M | 3M | 0 | 0 |
| Retained Earnings | -40.02M | -27.75M | 3.18M | 6.65M | 4.41M | 4.6M |
| Accumulated OCI | 80.2K | -242K | 99.68K | -116.76K | 73.77K | -145.94K |
| Return on Assets (ROA) | -7.3% | -34.96% | -10.82% | 13.12% | 23.01% | -1.28% |
| Return on Equity (ROE) | -39.69% | -161.31% | -19.65% | 21.28% | 50.64% | -2.99% |
| Debt / Equity | 2.71x | 3.81x | 0.39x | 0.07x | 0.48x | 0.58x |
| Debt / Assets | 58.72% | 54.48% | 18.56% | 4.34% | 22.97% | 24.82% |
| Net Debt / EBITDA | -8.07x | - | 21.75x | - | - | - |
| Book Value per Share | 0.64 | 0.61 | 0.69 | 0.62 | 0.17 | 0.28 |
Liquidity and leverage mismatch
According to the latest quarterly balance sheet, SUUN's debt-to-equity ratio has climbed to 2.71, reflecting a concerning trend where rising debt levels are increasingly supported by a shrinking equity base, which warrants close monitoring by investors concerned with the company's long-term solvency and capital structure stability.
The shift from a 0.15 debt-to-equity ratio in 2024Q3 to the current 2.71 level suggests that the company is aggressively leveraging its balance sheet to fund operations that are not yet self-sustaining. This reliance on debt, coupled with a declining equity base, indicates that the company lacks the regulatory capital cushion typically expected of a stable utility entity.
Based on reported financial statements, PPE net assets have fluctuated significantly, reaching $45.7 million in 2026Q3, which suggests that the company's asset base is driven by project-specific development cycles rather than the steady, predictable growth of a traditional regulated utility rate base.
The volatility in net PPE indicates that SUUN is not accumulating long-lived, rate-regulated assets that provide consistent returns. Instead, the asset base appears highly sensitive to the timing of project completions, which introduces significant uncertainty regarding the company's ability to generate stable, long-term regulated cash flows.
As indicated by the most recent quarterly data, the current ratio has compressed to 1.41, with cash reserves of only $13.3 million, suggesting that the company's liquidity position is increasingly strained and may limit its ability to navigate further project delays or unexpected capital requirements.
The decline in cash from $25.1 million in 2024Q2 to $13.3 million in 2026Q3 highlights a persistent cash burn that is not being offset by operational inflows. This liquidity profile appears insufficient to support the company's development pipeline without the potential for further dilutive financing or asset divestitures.
Based on the company's financial disclosures, the high concentration of assets in specific jurisdictions like New York suggests that SUUN faces significant exposure to regulatory disallowances, which could impair the value of its development pipeline and further erode the company's already vulnerable equity position.
The lack of geographic diversification means that any adverse change in state-level incentive programs or interconnection policies could lead to material write-downs of development assets. Investors should monitor whether these regulatory risks are adequately reflected in the carrying value of the company's reported assets.
Quick answers to the most common questions about buying SUUN stock.
As of 2025, PowerBank Corporation (SUUN) had total assets of $138.4M including $41.3M in current assets.
PowerBank Corporation (SUUN) carries total debt of $75.4M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
PowerBank Corporation (SUUN) has total shareholders' equity (book value) of $19.2M ($0.61 book value per share). Book value represents the net worth of the company belonging to common stock holders.
PowerBank Corporation (SUUN) reported a current ratio of 0.96x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.