Tecogen Inc. (TGEN) 10-Year Financial Performance & Capital Metrics

TGEN • • Industrial / General

IndustrialsElectrical EquipmentPower Conversion & Control EquipmentIndustrial Power Systems

AboutTecogen Inc. designs, manufactures, markets, and maintains industrial and commercial cogeneration systems for residential, commercial, recreational, and industrial use in the United States and internationally. It operates through three segments: Products, Services, and Energy Production. The company offers InVerde e+ and TecoPower, a cogeneration product that supplies electricity and hot water; TECOCHILL air-conditioning and refrigeration chillers; Tecofrost gas engine-driven refrigeration compressors; and water heaters under the Ilios brand name, as well as emissions control technology under the Ultera brand name. It also provides long-term maintenance contracts, parts sales, and turnkey installation services through a network of eleven field service centers in California, the Midwest, the Northeast, and the Southeast, as well as in Ontario, Canada. In addition, the company installs, owns, operates, and maintains distributed generation of electricity, energy, and other complementary systems. It serves hospitals and nursing homes, colleges, universities, health clubs, spas, hotels, motels, office and retail buildings, food and beverage processors, multi-unit residential buildings, laundries, ice rinks, swimming pools, factories, municipal buildings, military installations, and indoor growing facilities. The company was incorporated in 2000 and is headquartered in Waltham, Massachusetts.Show more

Revenue $23M -10.0%
EBITDA -$4M -3.5%
Net Income -$5M -3.5%
EPS (Diluted) -0.19 -5.6%
Gross Margin 43.64% +7.5%
EBITDA Margin -17.6% -15.0%
Operating Margin -20.04% -14.2%
Net Margin -21.04% -15.1%
ROE -38.42% -40.6%
ROIC -29.28% -46.7%
Debt/Equity 0.37 +265.3%
Interest Coverage -38.71 +32.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Weak momentum: RS Rating 15 (bottom 15%)
✗Sales declining 7.5% over 5 years
✗Trading more than 30% below 52-week high
✗Expensive at 12.3x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.58%

5Y-7.51%

3Y-2.49%

TTM24.01%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-0.38%

EPS CAGR

10Y-

5Y-

3Y-

TTM7.38%

ROCE

10Y Avg-14.75%

5Y Avg-18.49%

3Y Avg-20.89%

Latest-28.71%

Peer Comparison

Industrial Power Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AEISAdvanced Energy Industries, Inc.	9.71B	257.29	179.92	-10.49%	8.41%	11.09%	0.76%	0.56
VRTVertiv Holdings Co	65.97B	172.54	134.80	16.74%	10.67%	29.48%	1.72%	1.29
HAYWHayward Holdings, Inc.	3.63B	16.74	31	5.96%	12.62%	9.06%	5.17%	0.69
POWLPowell Industries, Inc.	4.92B	405.55	27.29	9.08%	16.22%	29.48%	3.14%	0.00
PPSIPioneer Power Solutions, Inc.	53.48M	4.82	1.66	105.82%	118.38%	105.11%		0.02
POLAPolar Power, Inc.	3.86M	1.44	-0.77	-8.65%	-104.13%	-299.07%		0.81
IPWRIdeal Power Inc.	27.54M	3.23	-2.52	-56.74%	-261.41%	-111.94%		0.03
TGENTecogen Inc.	148.93M	4.99	-26.26	-10.02%	-19.55%	-21.49%	2.08%	0.37

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	21.44M	24.49M	33.2M	35.88M	33.43M	28.25M	24.4M	25M	25.14M	22.62M
Revenue Growth %	0.11%	0.14%	0.36%	0.08%	-0.07%	-0.15%	-0.14%	0.02%	0.01%	-0.1%
Cost of Goods Sold+	13.81M	15.19M	20.25M	22.29M	20.95M	17.43M	12.81M	13.94M	14.94M	12.75M
COGS % of Revenue	0.64%	0.62%	0.61%	0.62%	0.63%	0.62%	0.53%	0.56%	0.59%	0.56%
Gross Profit+	7.63M	9.3M	12.95M	13.59M	12.48M	10.83M	11.59M	11.07M	10.2M	9.87M
Gross Margin %	0.36%	0.38%	0.39%	0.38%	0.37%	0.38%	0.47%	0.44%	0.41%	0.44%
Gross Profit Growth %	0.19%	0.22%	0.39%	0.05%	-0.08%	-0.13%	0.07%	-0.04%	-0.08%	-0.03%
Operating Expenses+	10.28M	10.3M	12.73M	19.13M	17.14M	16.79M	12.81M	13.42M	14.62M	14.4M
OpEx % of Revenue	0.48%	0.42%	0.38%	0.53%	0.51%	0.59%	0.52%	0.54%	0.58%	0.64%
Selling, General & Admin	9.68M	9.63M	11.79M	13.44M	13.07M	12.9M	12.27M	12.72M	13.81M	13.24M
SG&A % of Revenue	0.45%	0.39%	0.36%	0.37%	0.39%	0.46%	0.5%	0.51%	0.55%	0.59%
Research & Development	591.59K	667.06K	936.93K	1.3M	1.46M	767.32K	542.08K	732.87K	840.01K	961.84K
R&D % of Revenue	0.03%	0.03%	0.03%	0.04%	0.04%	0.03%	0.02%	0.03%	0.03%	0.04%
Other Operating Expenses	0	0	0	4.39M	2.61M	3.12M	-3.09K	-37.26K	-36.21K	205.11K
Operating Income+	-2.64M	-997.45K	225.15K	-5.54M	-4.66M	-5.96M	-1.22M	-2.35M	-4.41M	-4.53M
Operating Margin %	-0.12%	-0.04%	0.01%	-0.15%	-0.14%	-0.21%	-0.05%	-0.09%	-0.18%	-0.2%
Operating Income Growth %	0.29%	0.62%	1.23%	-25.6%	0.16%	-0.28%	0.8%	-0.93%	-0.88%	-0.03%
EBITDA+	-2.37M	-733.45K	812.97K	-4.75M	-4.22M	-5.55M	-749.24K	-1.92M	-3.85M	-3.98M
EBITDA Margin %	-0.11%	-0.03%	0.02%	-0.13%	-0.13%	-0.2%	-0.03%	-0.08%	-0.15%	-0.18%
EBITDA Growth %	0.31%	0.69%	2.11%	-6.84%	0.11%	-0.31%	0.86%	-1.56%	-1%	-0.03%
D&A (Non-Cash Add-back)	271.73K	264K	587.82K	789.12K	437.1K	414.13K	469.85K	428.35K	567.71K	553.78K
EBIT	-2.63M	-985.46K	252.78K	-5.65M	-4.68M	-6.06M	3.8M	-2.33M	-4.41M	-4.53M
Net Interest Income+	-157.61K	-163.79K	-127.46K	-111.98K	-100.92K	-128.3K	-37.98K	-16.25K	-77.05K	-117.12K
Interest Income	14.33K	11.99K	27.63K	8.03K	933	0	0	0	0	0
Interest Expense	171.94K	175.78K	155.08K	120.02K	101.85K	128.3K	37.98K	16.25K	77.05K	117.12K
Other Income/Expense	-157.61K	-163.79K	-127.46K	-230.07K	-120.6K	-226.71K	4.98M	-32.22K	-77.05K	-117.12K
Pretax Income+	-2.8M	-1.16M	97.7K	-5.77M	-4.78M	-6.19M	3.76M	-2.38M	-4.49M	-4.65M
Pretax Margin %	-0.13%	-0.05%	0%	-0.16%	-0.14%	-0.22%	0.15%	-0.1%	-0.18%	-0.21%
Income Tax+	0	0	0	32.75K	15.19K	30.17K	19.49K	16.35K	32.49K	22.57K
Effective Tax Rate %	0.97%	0.94%	0.49%	0.99%	0.99%	0.99%	0.98%	1.03%	1.02%	1.02%
Net Income+	-2.73M	-1.1M	47.44K	-5.71M	-4.71M	-6.15M	3.7M	-2.45M	-4.6M	-4.76M
Net Margin %	-0.13%	-0.04%	0%	-0.16%	-0.14%	-0.22%	0.15%	-0.1%	-0.18%	-0.21%
Net Income Growth %	0.27%	0.6%	1.04%	-121.34%	0.18%	-0.31%	1.6%	-1.66%	-0.88%	-0.04%
Net Income (Continuing)	-2.8M	-1.16M	97.7K	-5.8M	-4.79M	-6.22M	3.74M	-2.4M	-4.52M	-4.67M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-395.81K	0	455.61K	255.12K	85.26K	-42.32K	-79.94K	-106.56K	-94.3K	-104.81K
EPS (Diluted)+	-0.16	-0.06	0.00	-0.23	-0.19	-0.25	0.15	-0.10	-0.18	-0.19
EPS Growth %	0.33%	0.65%	1.04%	-	0.17%	-0.32%	1.6%	-1.66%	-0.83%	-0.06%
EPS (Basic)	-0.16	-0.06	0.00	-0.23	-0.19	-0.25	0.15	-0.10	-0.18	-0.19
Diluted Shares Outstanding	16.86M	19.3M	23.34M	24.82M	24.84M	24.85M	25.12M	24.85M	24.85M	24.86M
Basic Shares Outstanding	16.86M	19.3M	23.17M	24.82M	24.84M	24.85M	24.85M	24.85M	24.85M	24.85M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	19.4M	20.06M	21.66M	26.37M	27.91M	22.19M	24.97M	22.03M	20.31M	22.15M
Cash & Short-Term Investments	5.49M	3.72M	1.67M	272.55K	877.68K	1.49M	3.61M	1.91M	1.35M	5.41M
Cash Only	5.49M	3.72M	1.67M	272.55K	877.68K	1.49M	3.61M	1.91M	1.35M	5.41M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	7.54M	11.16M	14.09M	19.08M	19.99M	12.94M	11.74M	8.52M	7.99M	6.43M
Days Sales Outstanding	128.29	166.34	154.84	194.07	218.29	167.14	175.64	124.37	116.06	103.68
Inventory	5.68M	4.77M	5.13M	6.29M	6.41M	7.17M	7.76M	10.48M	10.55M	9.63M
Days Inventory Outstanding	150.21	114.72	92.49	103.07	111.61	150.14	221.24	274.56	257.87	275.81
Other Current Assets	343.79K	0	0	0	0	0	1.28M	713.27K	46.15K	680.57K
Total Non-Current Assets+	1.69M	3.68M	29.01M	23.54M	13.21M	7.88M	7.39M	6.22M	7.49M	8.95M
Property, Plant & Equipment	543.75K	517.14K	12.27M	11.27M	5.64M	3.92M	3.65M	2.65M	2.11M	3.47M
Fixed Asset Turnover	39.43x	47.36x	2.71x	3.18x	5.93x	7.21x	6.68x	9.42x	11.94x	6.52x
Goodwill	40.87K	40.87K	13.37M	8.98M	5.28M	2.41M	2.41M	2.41M	2.74M	2.35M
Intangible Assets	1.04M	1.07M	2.9M	2.89M	1.59M	1.36M	1.18M	997.59K	2.44M	2.51M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	58.42K	2.06M	482.55K	393.65K	691.94K	196.39K	148.14K	165.23K	201.77K	618.86K
Total Assets+	21.09M	23.74M	50.67M	49.9M	41.12M	30.07M	32.36M	28.25M	27.79M	31.09M
Asset Turnover	1.02x	1.03x	0.66x	0.72x	0.81x	0.94x	0.75x	0.88x	0.90x	0.73x
Asset Growth %	0.49%	0.13%	1.13%	-0.02%	-0.18%	-0.27%	0.08%	-0.13%	-0.02%	0.12%
Total Current Liabilities+	5.38M	5.62M	8.71M	13.2M	13.45M	8.82M	8.78M	7.69M	10.48M	16.82M
Accounts Payable	3.31M	3.37M	5.1M	7.15M	5.27M	4.18M	3.51M	3.26M	4.51M	4.14M
Days Payables Outstanding	87.54	80.92	91.85	117.13	91.86	87.61	99.96	85.44	110.31	118.6
Short-Term Debt	0	0	850K	2.01M	2.94M	837.86K	0	0	505.5K	1.55M
Deferred Revenue (Current)	996.94K	876.76K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K
Other Current Liabilities	110K	148K	0	140.6K	-331.14K	0	2.45M	0	1.16M	902.55K
Current Ratio	3.61x	3.57x	2.49x	2.00x	2.08x	2.52x	2.84x	2.87x	1.94x	1.32x
Quick Ratio	2.55x	2.72x	1.90x	1.52x	1.60x	1.70x	1.96x	1.50x	0.93x	0.74x
Cash Conversion Cycle	190.96	200.15	155.48	180.01	238.04	229.67	296.92	313.49	263.62	260.89
Total Non-Current Liabilities+	3.27M	3.61M	8.27M	8.67M	4.32M	3.99M	2.45M	1.58M	2.66M	4.15M
Long-Term Debt	3M	3.15M	0	0	0	1.04M	0	0	0	0
Capital Lease Obligations	0	0	0	0	1.64M	1.22M	1.32M	623.45K	683.31K	1.67M
Deferred Tax Liabilities	-3M	-3.15M	0	0	-2.53M	0	0	-583.51K	0	0
Other Non-Current Liabilities	0	0	0	0	2.53M	1.62M	1.14M	583.51K	1.6M	1.01M
Total Liabilities	8.65M	9.23M	16.98M	21.87M	17.76M	12.81M	11.23M	9.27M	13.14M	20.97M
Total Debt+	3M	3.15M	850K	2.01M	5.11M	3.6M	1.96M	1.31M	1.48M	3.73M
Net Debt	-2.49M	-573.26K	-823.07K	1.74M	4.24M	2.11M	-1.66M	-602.93K	127.02K	-1.67M
Debt / Equity	0.24x	0.22x	0.03x	0.07x	0.22x	0.21x	0.09x	0.07x	0.10x	0.37x
Debt / EBITDA	-	-	1.05x	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-1.01x	-	-	-	-	-	-	-
Interest Coverage	-15.37x	-5.67x	1.45x	-46.15x	-45.74x	-46.45x	-32.09x	-144.53x	-57.28x	-38.71x
Total Equity+	12.44M	14.51M	33.7M	28.04M	23.35M	17.27M	21.13M	18.99M	14.65M	10.13M
Equity Growth %	1.14%	0.17%	1.32%	-0.17%	-0.17%	-0.26%	0.22%	-0.1%	-0.23%	-0.31%
Book Value per Share	0.74	0.75	1.44	1.13	0.94	0.69	0.84	0.76	0.59	0.41
Total Shareholders' Equity	12.84M	14.51M	33.24M	27.78M	23.27M	17.31M	21.21M	19.09M	14.75M	10.23M
Common Stock	18.48K	19.98K	24.77K	24.82K	24.85K	24.85K	24.85K	24.85K	24.85K	24.95K
Retained Earnings	-21.68M	-22.84M	-22.8M	-28.67M	-33.38M	-39.53M	-35.83M	-38.28M	-42.88M	-47.64M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	-165.32K	0	0	0	0	0	0	0
Minority Interest	-395.81K	0	455.61K	255.12K	85.26K	-42.32K	-79.94K	-106.56K	-94.3K	-104.81K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-4.73M	-2.72M	-591.26K	-3.86M	-4.48M	1.41M	465.03K	-1.35M	-817.81K	4.06M
Operating CF Margin %	-0.22%	-0.11%	-0.02%	-0.11%	-0.13%	0.05%	0.02%	-0.05%	-0.03%	0.18%
Operating CF Growth %	0.08%	0.43%	0.78%	-5.52%	-0.16%	1.31%	-0.67%	-3.91%	0.4%	5.97%
Net Income	-2.8M	-1.16M	97.7K	-5.8M	-4.79M	-6.22M	3.74M	-2.4M	-4.52M	-4.67M
Depreciation & Amortization	271.73K	264K	587.82K	789.12K	437.1K	414.13K	469.85K	428.35K	567.71K	553.78K
Stock-Based Compensation	199.5K	165.93K	183.77K	181.19K	163.46K	190.94K	202.43K	334.15K	250.39K	172.99K
Deferred Taxes	-11.63K	-45.6K	3.31K	4.42M	0	0	0	0	0	0
Other Non-Cash Items	50.2K	49.53K	1.49K	-92.51K	2.72M	4.01M	-4.89M	130.01K	1.27M	466.68K
Working Capital Changes	-2.44M	-1.99M	-1.47M	-3.35M	-3.01M	3.01M	941.2K	153.28K	1.61M	7.54M
Change in Receivables	-536.43K	-3.32M	-336.05K	-4.47M	-959.99K	6.71M	1.07M	3.85M	-24.2K	1.47M
Change in Inventory	-1.59M	935.78K	-298.17K	-1.17M	-110.37K	-849.37K	-596.39K	-2.82M	-82.53K	848.88K
Change in Payables	895.5K	55.67K	1.34M	1.17M	-1.88M	-1.09M	-674.75K	-246.4K	1.16M	-371.74K
Cash from Investing+	-185.74K	-2.26M	1.51M	1.28M	4.71M	-217.76K	-215.06K	-348.56K	-244.89K	-1.01M
Capital Expenditures	-202.61K	-259.39K	-1.03M	-1.05M	-95.64K	-59.95K	-91.45K	-314.88K	-46.85K	-969.16K
CapEx % of Revenue	0.01%	0.01%	0.03%	0.03%	0%	0%	0%	0.01%	0%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	16.87K	1.88M	1.05M	1.9M	4.8M	-157.81K	-135.24K	-33.69K	-28.04K	-45.57K
Cash from Financing+	9.22M	3.21M	-2.97M	1.18M	382.9K	-576.93K	1.87M	0	500K	1.01M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	360.23K	3.06M	179.92K	-72.09K	33.62K	1.2K	0	0	0	71K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-4.94M	-2.98M	-1.62M	-4.91M	-4.69M	1.22M	310.49K	-1.7M	-864.66K	3.09M
FCF Margin %	-0.23%	-0.12%	-0.05%	-0.14%	-0.14%	0.04%	0.01%	-0.07%	-0.03%	0.14%
FCF Growth %	0.1%	0.4%	0.45%	-2.02%	0.05%	1.26%	-0.75%	-6.46%	0.49%	4.58%
FCF per Share	-0.29	-0.15	-0.07	-0.20	-0.19	0.05	0.01	-0.07	-0.03	0.12
FCF Conversion (FCF/Net Income)	1.74x	2.48x	-12.46x	0.68x	0.95x	-0.23x	0.13x	0.55x	0.18x	-0.85x
Interest Paid	0	0	0	140.06K	51.89K	62.01K	241	14.6K	10.93K	45.28K
Taxes Paid	0	0	0	32.75K	35.4K	30.18K	19.49K	16.35K	32.49K	22.57K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-29.86%	-8.13%	0.2%	-18.49%	-18.33%	-30.28%	19.25%	-12.2%	-27.34%	-38.42%
Return on Invested Capital (ROIC)	-22.54%	-6.26%	0.72%	-13.26%	-12.18%	-19.04%	-4.71%	-9.31%	-19.96%	-29.28%
Gross Margin	35.6%	37.98%	39.02%	37.88%	37.33%	38.32%	47.49%	44.26%	40.58%	43.64%
Net Margin	-12.72%	-4.48%	0.14%	-15.91%	-14.09%	-21.77%	15.15%	-9.79%	-18.29%	-21.04%
Debt / Equity	0.24x	0.22x	0.03x	0.07x	0.22x	0.21x	0.09x	0.07x	0.10x	0.37x
Interest Coverage	-15.37x	-5.67x	1.45x	-46.15x	-45.74x	-46.45x	-32.09x	-144.53x	-57.28x	-38.71x
FCF Conversion	1.74x	2.48x	-12.46x	0.68x	0.95x	-0.23x	0.13x	0.55x	0.18x	-0.85x
Revenue Growth	10.86%	14.21%	35.57%	8.07%	-6.85%	-15.47%	-13.65%	2.48%	0.55%	-10.02%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Service	-	-	-	-	17.31M	15.88M	12.53M	12.06M	14.52M	16.07M
Service Growth	-	-	-	-	-	-8.23%	-21.14%	-3.71%	20.42%	10.69%
Product	-	-	-	-	-	-	-	-	8.86M	4.44M
Product Growth	-	-	-	-	-	-	-	-	-	-49.84%
Energy Service	-	-	-	-	3.14M	1.84M	1.74M	1.79M	1.76M	2.1M
Energy Service Growth	-	-	-	-	-	-41.51%	-5.34%	2.69%	-1.65%	19.60%
Products and Services	-	-	30.12M	30.7M	-	-	-	-	-	-
Products and Services Growth	-	-	-	1.91%	-	-	-	-	-	-
Energy Production	-	-	3.83M	6.4M	-	-	-	-	-	-
Energy Production Growth	-	-	-	66.92%	-	-	-	-	-	-
Corporate and Other	-	-	-750.69K	-1.21M	-	-	-	-	-	-
Corporate and Other Growth	-	-	-	-61.34%	-	-	-	-	-	-
Service Contracts	7.83M	8.54M	-	-	-	-	-	-	-	-
Service Contracts Growth	-	9.05%	-	-	-	-	-	-	-	-
Cogeneration	7.88M	7.79M	-	-	-	-	-	-	-	-
Cogeneration Growth	-	-1.12%	-	-	-	-	-	-	-	-
Installations	3.56M	5.23M	-	-	-	-	-	-	-	-
Installations Growth	-	47.02%	-	-	-	-	-	-	-	-
Chiller	2.17M	2.93M	-	-	-	-	-	-	-	-
Chiller Growth	-	34.77%	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Services	-	-	-	-	-	-	-	12.06M	25.14M	22.62M
Services Growth	-	-	-	-	-	-	-	-	108.44%	-10.02%

Frequently Asked Questions

Growth & Financials

Tecogen Inc. (TGEN) reported $27.8M in revenue for fiscal year 2024. This represents a 152% increase from $11.1M in 2011.

Tecogen Inc. (TGEN) saw revenue decline by 10.0% over the past year.

Tecogen Inc. (TGEN) reported a net loss of $5.4M for fiscal year 2024.

Dividend & Returns

Tecogen Inc. (TGEN) has a return on equity (ROE) of -38.4%. Negative ROE indicates the company is unprofitable.

Tecogen Inc. (TGEN) had negative free cash flow of $3.6M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Tecogen Inc. (TGEN) 10-Year Financial Performance & Capital Metrics

TGEN • • Industrial / General

IndustrialsElectrical EquipmentPower Conversion & Control EquipmentIndustrial Power Systems

Revenue $23M -10.0%
EBITDA -$4M -3.5%
Net Income -$5M -3.5%
EPS (Diluted) -0.19 -5.6%
Gross Margin 43.64% +7.5%
EBITDA Margin -17.6% -15.0%
Operating Margin -20.04% -14.2%
Net Margin -21.04% -15.1%
ROE -38.42% -40.6%
ROIC -29.28% -46.7%
Debt/Equity 0.37 +265.3%
Interest Coverage -38.71 +32.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Weak momentum: RS Rating 15 (bottom 15%)
✗Sales declining 7.5% over 5 years
✗Trading more than 30% below 52-week high
✗Expensive at 12.3x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y1.58%

5Y-7.51%

3Y-2.49%

TTM24.01%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-0.38%

EPS CAGR

10Y-

5Y-

3Y-

TTM7.38%

ROCE

10Y Avg-14.75%

5Y Avg-18.49%

3Y Avg-20.89%

Latest-28.71%

Peer Comparison

Industrial Power Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AEISAdvanced Energy Industries, Inc.	9.71B	257.29	179.92	-10.49%	8.41%	11.09%	0.76%	0.56
VRTVertiv Holdings Co	65.97B	172.54	134.80	16.74%	10.67%	29.48%	1.72%	1.29
HAYWHayward Holdings, Inc.	3.63B	16.74	31	5.96%	12.62%	9.06%	5.17%	0.69
POWLPowell Industries, Inc.	4.92B	405.55	27.29	9.08%	16.22%	29.48%	3.14%	0.00
PPSIPioneer Power Solutions, Inc.	53.48M	4.82	1.66	105.82%	118.38%	105.11%		0.02
POLAPolar Power, Inc.	3.86M	1.44	-0.77	-8.65%	-104.13%	-299.07%		0.81
IPWRIdeal Power Inc.	27.54M	3.23	-2.52	-56.74%	-261.41%	-111.94%		0.03
TGENTecogen Inc.	148.93M	4.99	-26.26	-10.02%	-19.55%	-21.49%	2.08%	0.37

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	21.44M	24.49M	33.2M	35.88M	33.43M	28.25M	24.4M	25M	25.14M	22.62M
Revenue Growth %	0.11%	0.14%	0.36%	0.08%	-0.07%	-0.15%	-0.14%	0.02%	0.01%	-0.1%
Cost of Goods Sold+	13.81M	15.19M	20.25M	22.29M	20.95M	17.43M	12.81M	13.94M	14.94M	12.75M
COGS % of Revenue	0.64%	0.62%	0.61%	0.62%	0.63%	0.62%	0.53%	0.56%	0.59%	0.56%
Gross Profit+	7.63M	9.3M	12.95M	13.59M	12.48M	10.83M	11.59M	11.07M	10.2M	9.87M
Gross Margin %	0.36%	0.38%	0.39%	0.38%	0.37%	0.38%	0.47%	0.44%	0.41%	0.44%
Gross Profit Growth %	0.19%	0.22%	0.39%	0.05%	-0.08%	-0.13%	0.07%	-0.04%	-0.08%	-0.03%
Operating Expenses+	10.28M	10.3M	12.73M	19.13M	17.14M	16.79M	12.81M	13.42M	14.62M	14.4M
OpEx % of Revenue	0.48%	0.42%	0.38%	0.53%	0.51%	0.59%	0.52%	0.54%	0.58%	0.64%
Selling, General & Admin	9.68M	9.63M	11.79M	13.44M	13.07M	12.9M	12.27M	12.72M	13.81M	13.24M
SG&A % of Revenue	0.45%	0.39%	0.36%	0.37%	0.39%	0.46%	0.5%	0.51%	0.55%	0.59%
Research & Development	591.59K	667.06K	936.93K	1.3M	1.46M	767.32K	542.08K	732.87K	840.01K	961.84K
R&D % of Revenue	0.03%	0.03%	0.03%	0.04%	0.04%	0.03%	0.02%	0.03%	0.03%	0.04%
Other Operating Expenses	0	0	0	4.39M	2.61M	3.12M	-3.09K	-37.26K	-36.21K	205.11K
Operating Income+	-2.64M	-997.45K	225.15K	-5.54M	-4.66M	-5.96M	-1.22M	-2.35M	-4.41M	-4.53M
Operating Margin %	-0.12%	-0.04%	0.01%	-0.15%	-0.14%	-0.21%	-0.05%	-0.09%	-0.18%	-0.2%
Operating Income Growth %	0.29%	0.62%	1.23%	-25.6%	0.16%	-0.28%	0.8%	-0.93%	-0.88%	-0.03%
EBITDA+	-2.37M	-733.45K	812.97K	-4.75M	-4.22M	-5.55M	-749.24K	-1.92M	-3.85M	-3.98M
EBITDA Margin %	-0.11%	-0.03%	0.02%	-0.13%	-0.13%	-0.2%	-0.03%	-0.08%	-0.15%	-0.18%
EBITDA Growth %	0.31%	0.69%	2.11%	-6.84%	0.11%	-0.31%	0.86%	-1.56%	-1%	-0.03%
D&A (Non-Cash Add-back)	271.73K	264K	587.82K	789.12K	437.1K	414.13K	469.85K	428.35K	567.71K	553.78K
EBIT	-2.63M	-985.46K	252.78K	-5.65M	-4.68M	-6.06M	3.8M	-2.33M	-4.41M	-4.53M
Net Interest Income+	-157.61K	-163.79K	-127.46K	-111.98K	-100.92K	-128.3K	-37.98K	-16.25K	-77.05K	-117.12K
Interest Income	14.33K	11.99K	27.63K	8.03K	933	0	0	0	0	0
Interest Expense	171.94K	175.78K	155.08K	120.02K	101.85K	128.3K	37.98K	16.25K	77.05K	117.12K
Other Income/Expense	-157.61K	-163.79K	-127.46K	-230.07K	-120.6K	-226.71K	4.98M	-32.22K	-77.05K	-117.12K
Pretax Income+	-2.8M	-1.16M	97.7K	-5.77M	-4.78M	-6.19M	3.76M	-2.38M	-4.49M	-4.65M
Pretax Margin %	-0.13%	-0.05%	0%	-0.16%	-0.14%	-0.22%	0.15%	-0.1%	-0.18%	-0.21%
Income Tax+	0	0	0	32.75K	15.19K	30.17K	19.49K	16.35K	32.49K	22.57K
Effective Tax Rate %	0.97%	0.94%	0.49%	0.99%	0.99%	0.99%	0.98%	1.03%	1.02%	1.02%
Net Income+	-2.73M	-1.1M	47.44K	-5.71M	-4.71M	-6.15M	3.7M	-2.45M	-4.6M	-4.76M
Net Margin %	-0.13%	-0.04%	0%	-0.16%	-0.14%	-0.22%	0.15%	-0.1%	-0.18%	-0.21%
Net Income Growth %	0.27%	0.6%	1.04%	-121.34%	0.18%	-0.31%	1.6%	-1.66%	-0.88%	-0.04%
Net Income (Continuing)	-2.8M	-1.16M	97.7K	-5.8M	-4.79M	-6.22M	3.74M	-2.4M	-4.52M	-4.67M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-395.81K	0	455.61K	255.12K	85.26K	-42.32K	-79.94K	-106.56K	-94.3K	-104.81K
EPS (Diluted)+	-0.16	-0.06	0.00	-0.23	-0.19	-0.25	0.15	-0.10	-0.18	-0.19
EPS Growth %	0.33%	0.65%	1.04%	-	0.17%	-0.32%	1.6%	-1.66%	-0.83%	-0.06%
EPS (Basic)	-0.16	-0.06	0.00	-0.23	-0.19	-0.25	0.15	-0.10	-0.18	-0.19
Diluted Shares Outstanding	16.86M	19.3M	23.34M	24.82M	24.84M	24.85M	25.12M	24.85M	24.85M	24.86M
Basic Shares Outstanding	16.86M	19.3M	23.17M	24.82M	24.84M	24.85M	24.85M	24.85M	24.85M	24.85M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	19.4M	20.06M	21.66M	26.37M	27.91M	22.19M	24.97M	22.03M	20.31M	22.15M
Cash & Short-Term Investments	5.49M	3.72M	1.67M	272.55K	877.68K	1.49M	3.61M	1.91M	1.35M	5.41M
Cash Only	5.49M	3.72M	1.67M	272.55K	877.68K	1.49M	3.61M	1.91M	1.35M	5.41M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	7.54M	11.16M	14.09M	19.08M	19.99M	12.94M	11.74M	8.52M	7.99M	6.43M
Days Sales Outstanding	128.29	166.34	154.84	194.07	218.29	167.14	175.64	124.37	116.06	103.68
Inventory	5.68M	4.77M	5.13M	6.29M	6.41M	7.17M	7.76M	10.48M	10.55M	9.63M
Days Inventory Outstanding	150.21	114.72	92.49	103.07	111.61	150.14	221.24	274.56	257.87	275.81
Other Current Assets	343.79K	0	0	0	0	0	1.28M	713.27K	46.15K	680.57K
Total Non-Current Assets+	1.69M	3.68M	29.01M	23.54M	13.21M	7.88M	7.39M	6.22M	7.49M	8.95M
Property, Plant & Equipment	543.75K	517.14K	12.27M	11.27M	5.64M	3.92M	3.65M	2.65M	2.11M	3.47M
Fixed Asset Turnover	39.43x	47.36x	2.71x	3.18x	5.93x	7.21x	6.68x	9.42x	11.94x	6.52x
Goodwill	40.87K	40.87K	13.37M	8.98M	5.28M	2.41M	2.41M	2.41M	2.74M	2.35M
Intangible Assets	1.04M	1.07M	2.9M	2.89M	1.59M	1.36M	1.18M	997.59K	2.44M	2.51M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	58.42K	2.06M	482.55K	393.65K	691.94K	196.39K	148.14K	165.23K	201.77K	618.86K
Total Assets+	21.09M	23.74M	50.67M	49.9M	41.12M	30.07M	32.36M	28.25M	27.79M	31.09M
Asset Turnover	1.02x	1.03x	0.66x	0.72x	0.81x	0.94x	0.75x	0.88x	0.90x	0.73x
Asset Growth %	0.49%	0.13%	1.13%	-0.02%	-0.18%	-0.27%	0.08%	-0.13%	-0.02%	0.12%
Total Current Liabilities+	5.38M	5.62M	8.71M	13.2M	13.45M	8.82M	8.78M	7.69M	10.48M	16.82M
Accounts Payable	3.31M	3.37M	5.1M	7.15M	5.27M	4.18M	3.51M	3.26M	4.51M	4.14M
Days Payables Outstanding	87.54	80.92	91.85	117.13	91.86	87.61	99.96	85.44	110.31	118.6
Short-Term Debt	0	0	850K	2.01M	2.94M	837.86K	0	0	505.5K	1.55M
Deferred Revenue (Current)	996.94K	876.76K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K
Other Current Liabilities	110K	148K	0	140.6K	-331.14K	0	2.45M	0	1.16M	902.55K
Current Ratio	3.61x	3.57x	2.49x	2.00x	2.08x	2.52x	2.84x	2.87x	1.94x	1.32x
Quick Ratio	2.55x	2.72x	1.90x	1.52x	1.60x	1.70x	1.96x	1.50x	0.93x	0.74x
Cash Conversion Cycle	190.96	200.15	155.48	180.01	238.04	229.67	296.92	313.49	263.62	260.89
Total Non-Current Liabilities+	3.27M	3.61M	8.27M	8.67M	4.32M	3.99M	2.45M	1.58M	2.66M	4.15M
Long-Term Debt	3M	3.15M	0	0	0	1.04M	0	0	0	0
Capital Lease Obligations	0	0	0	0	1.64M	1.22M	1.32M	623.45K	683.31K	1.67M
Deferred Tax Liabilities	-3M	-3.15M	0	0	-2.53M	0	0	-583.51K	0	0
Other Non-Current Liabilities	0	0	0	0	2.53M	1.62M	1.14M	583.51K	1.6M	1.01M
Total Liabilities	8.65M	9.23M	16.98M	21.87M	17.76M	12.81M	11.23M	9.27M	13.14M	20.97M
Total Debt+	3M	3.15M	850K	2.01M	5.11M	3.6M	1.96M	1.31M	1.48M	3.73M
Net Debt	-2.49M	-573.26K	-823.07K	1.74M	4.24M	2.11M	-1.66M	-602.93K	127.02K	-1.67M
Debt / Equity	0.24x	0.22x	0.03x	0.07x	0.22x	0.21x	0.09x	0.07x	0.10x	0.37x
Debt / EBITDA	-	-	1.05x	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-1.01x	-	-	-	-	-	-	-
Interest Coverage	-15.37x	-5.67x	1.45x	-46.15x	-45.74x	-46.45x	-32.09x	-144.53x	-57.28x	-38.71x
Total Equity+	12.44M	14.51M	33.7M	28.04M	23.35M	17.27M	21.13M	18.99M	14.65M	10.13M
Equity Growth %	1.14%	0.17%	1.32%	-0.17%	-0.17%	-0.26%	0.22%	-0.1%	-0.23%	-0.31%
Book Value per Share	0.74	0.75	1.44	1.13	0.94	0.69	0.84	0.76	0.59	0.41
Total Shareholders' Equity	12.84M	14.51M	33.24M	27.78M	23.27M	17.31M	21.21M	19.09M	14.75M	10.23M
Common Stock	18.48K	19.98K	24.77K	24.82K	24.85K	24.85K	24.85K	24.85K	24.85K	24.95K
Retained Earnings	-21.68M	-22.84M	-22.8M	-28.67M	-33.38M	-39.53M	-35.83M	-38.28M	-42.88M	-47.64M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	-165.32K	0	0	0	0	0	0	0
Minority Interest	-395.81K	0	455.61K	255.12K	85.26K	-42.32K	-79.94K	-106.56K	-94.3K	-104.81K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-4.73M	-2.72M	-591.26K	-3.86M	-4.48M	1.41M	465.03K	-1.35M	-817.81K	4.06M
Operating CF Margin %	-0.22%	-0.11%	-0.02%	-0.11%	-0.13%	0.05%	0.02%	-0.05%	-0.03%	0.18%
Operating CF Growth %	0.08%	0.43%	0.78%	-5.52%	-0.16%	1.31%	-0.67%	-3.91%	0.4%	5.97%
Net Income	-2.8M	-1.16M	97.7K	-5.8M	-4.79M	-6.22M	3.74M	-2.4M	-4.52M	-4.67M
Depreciation & Amortization	271.73K	264K	587.82K	789.12K	437.1K	414.13K	469.85K	428.35K	567.71K	553.78K
Stock-Based Compensation	199.5K	165.93K	183.77K	181.19K	163.46K	190.94K	202.43K	334.15K	250.39K	172.99K
Deferred Taxes	-11.63K	-45.6K	3.31K	4.42M	0	0	0	0	0	0
Other Non-Cash Items	50.2K	49.53K	1.49K	-92.51K	2.72M	4.01M	-4.89M	130.01K	1.27M	466.68K
Working Capital Changes	-2.44M	-1.99M	-1.47M	-3.35M	-3.01M	3.01M	941.2K	153.28K	1.61M	7.54M
Change in Receivables	-536.43K	-3.32M	-336.05K	-4.47M	-959.99K	6.71M	1.07M	3.85M	-24.2K	1.47M
Change in Inventory	-1.59M	935.78K	-298.17K	-1.17M	-110.37K	-849.37K	-596.39K	-2.82M	-82.53K	848.88K
Change in Payables	895.5K	55.67K	1.34M	1.17M	-1.88M	-1.09M	-674.75K	-246.4K	1.16M	-371.74K
Cash from Investing+	-185.74K	-2.26M	1.51M	1.28M	4.71M	-217.76K	-215.06K	-348.56K	-244.89K	-1.01M
Capital Expenditures	-202.61K	-259.39K	-1.03M	-1.05M	-95.64K	-59.95K	-91.45K	-314.88K	-46.85K	-969.16K
CapEx % of Revenue	0.01%	0.01%	0.03%	0.03%	0%	0%	0%	0.01%	0%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	16.87K	1.88M	1.05M	1.9M	4.8M	-157.81K	-135.24K	-33.69K	-28.04K	-45.57K
Cash from Financing+	9.22M	3.21M	-2.97M	1.18M	382.9K	-576.93K	1.87M	0	500K	1.01M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	360.23K	3.06M	179.92K	-72.09K	33.62K	1.2K	0	0	0	71K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-4.94M	-2.98M	-1.62M	-4.91M	-4.69M	1.22M	310.49K	-1.7M	-864.66K	3.09M
FCF Margin %	-0.23%	-0.12%	-0.05%	-0.14%	-0.14%	0.04%	0.01%	-0.07%	-0.03%	0.14%
FCF Growth %	0.1%	0.4%	0.45%	-2.02%	0.05%	1.26%	-0.75%	-6.46%	0.49%	4.58%
FCF per Share	-0.29	-0.15	-0.07	-0.20	-0.19	0.05	0.01	-0.07	-0.03	0.12
FCF Conversion (FCF/Net Income)	1.74x	2.48x	-12.46x	0.68x	0.95x	-0.23x	0.13x	0.55x	0.18x	-0.85x
Interest Paid	0	0	0	140.06K	51.89K	62.01K	241	14.6K	10.93K	45.28K
Taxes Paid	0	0	0	32.75K	35.4K	30.18K	19.49K	16.35K	32.49K	22.57K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-29.86%	-8.13%	0.2%	-18.49%	-18.33%	-30.28%	19.25%	-12.2%	-27.34%	-38.42%
Return on Invested Capital (ROIC)	-22.54%	-6.26%	0.72%	-13.26%	-12.18%	-19.04%	-4.71%	-9.31%	-19.96%	-29.28%
Gross Margin	35.6%	37.98%	39.02%	37.88%	37.33%	38.32%	47.49%	44.26%	40.58%	43.64%
Net Margin	-12.72%	-4.48%	0.14%	-15.91%	-14.09%	-21.77%	15.15%	-9.79%	-18.29%	-21.04%
Debt / Equity	0.24x	0.22x	0.03x	0.07x	0.22x	0.21x	0.09x	0.07x	0.10x	0.37x
Interest Coverage	-15.37x	-5.67x	1.45x	-46.15x	-45.74x	-46.45x	-32.09x	-144.53x	-57.28x	-38.71x
FCF Conversion	1.74x	2.48x	-12.46x	0.68x	0.95x	-0.23x	0.13x	0.55x	0.18x	-0.85x
Revenue Growth	10.86%	14.21%	35.57%	8.07%	-6.85%	-15.47%	-13.65%	2.48%	0.55%	-10.02%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Service	-	-	-	-	17.31M	15.88M	12.53M	12.06M	14.52M	16.07M
Service Growth	-	-	-	-	-	-8.23%	-21.14%	-3.71%	20.42%	10.69%
Product	-	-	-	-	-	-	-	-	8.86M	4.44M
Product Growth	-	-	-	-	-	-	-	-	-	-49.84%
Energy Service	-	-	-	-	3.14M	1.84M	1.74M	1.79M	1.76M	2.1M
Energy Service Growth	-	-	-	-	-	-41.51%	-5.34%	2.69%	-1.65%	19.60%
Products and Services	-	-	30.12M	30.7M	-	-	-	-	-	-
Products and Services Growth	-	-	-	1.91%	-	-	-	-	-	-
Energy Production	-	-	3.83M	6.4M	-	-	-	-	-	-
Energy Production Growth	-	-	-	66.92%	-	-	-	-	-	-
Corporate and Other	-	-	-750.69K	-1.21M	-	-	-	-	-	-
Corporate and Other Growth	-	-	-	-61.34%	-	-	-	-	-	-
Service Contracts	7.83M	8.54M	-	-	-	-	-	-	-	-
Service Contracts Growth	-	9.05%	-	-	-	-	-	-	-	-
Cogeneration	7.88M	7.79M	-	-	-	-	-	-	-	-
Cogeneration Growth	-	-1.12%	-	-	-	-	-	-	-	-
Installations	3.56M	5.23M	-	-	-	-	-	-	-	-
Installations Growth	-	47.02%	-	-	-	-	-	-	-	-
Chiller	2.17M	2.93M	-	-	-	-	-	-	-	-
Chiller Growth	-	34.77%	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Services	-	-	-	-	-	-	-	12.06M	25.14M	22.62M
Services Growth	-	-	-	-	-	-	-	-	108.44%	-10.02%

Frequently Asked Questions

Growth & Financials

Tecogen Inc. (TGEN) reported $27.8M in revenue for fiscal year 2024. This represents a 152% increase from $11.1M in 2011.

Tecogen Inc. (TGEN) saw revenue decline by 10.0% over the past year.

Tecogen Inc. (TGEN) reported a net loss of $5.4M for fiscal year 2024.

Dividend & Returns

Tecogen Inc. (TGEN) has a return on equity (ROE) of -38.4%. Negative ROE indicates the company is unprofitable.

Tecogen Inc. (TGEN) had negative free cash flow of $3.6M in fiscal year 2024, likely due to heavy capital investments.