Energy · Solar
Price
$4.33
Market Cap
$69.3M
Employees
202
Beta
1.82
Avg Volume
181,510
CEO
Yann Brandt
Business Description
FTC Solar, Inc. provides solar tracker systems, technology, software, and engineering services in the United States, Vietnam, and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides SunPath, a software solution to enhance energy production; Atlas, a web-based enterprise-level database that allows users to manage their project portfolio; and SunDAT, a software solution enables automated design and optimization of solar panel systems across residential, commercial, and utility-scale sites. Its customers include project developers; solar asset owners; and engineering, procurement, and construction contractors that design and build solar energy projects. FTC Solar, Inc. was incorporated in 2017 and is headquartered in Austin, Texas.
Business History
Price Overview
Last updated: May 14, 2026 3:15am (just now)$4.33
+0.13 (+3.10%)
Day Range
$4.02 – $4.37
52-Week Range
$3.21 – $12.75
50-Day MA
$4.48
200-Day MA
$7.54
Volume
114,405.00
Analyst Price Targets
Low
$10.00
Consensus
$13.33
High
$20.00
(14 analysts)
Share Structure
Outstanding
16,005,294.00
Float
10,995,981.00
Free Float
68.7%
Normal free float
— 68.7% of shares trade freely, ~31.3% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.79
Stock Price: $4.33
EPS (Diluted): -5.49
EPS (Diluted): -5.49
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
-3.79
Stock Price: $4.33
Total Equity: -$40.30M
Shares: 14,012,298
Total Equity: -$40.30M
Shares: 14,012,298
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-1.70
Market Cap: $69.30M
Total Debt: $33.33M
Cash: $21.11M
EBITDA: -$32.14M
Total Debt: $33.33M
Cash: $21.11M
EBITDA: -$32.14M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$165.6M
Market Cap: $69.30M
Total Debt: $33.33M
Cash: $21.11M
Total Debt: $33.33M
Cash: $21.11M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
1.1%
Gross Profit: $1.13M
Revenue: $99.69M
Revenue: $99.69M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-33.5%
Operating Income: -$33.42M
Revenue: $99.69M
Revenue: $99.69M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-77.2%
Net Income: -$76.92M
Revenue: $99.69M
Revenue: $99.69M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
316.8%
Net Income: -$76.92M
Total Equity: -$40.30M
Total Equity: -$40.30M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-79.1%
Operating Income: -$33.42M
Tax Rate: -0.7%
Equity: -$40.30M
Total Debt: $33.33M
Cash: $21.11M
Tax Rate: -0.7%
Equity: -$40.30M
Total Debt: $33.33M
Cash: $21.11M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.30
Current Assets: $97.77M
Current Liabilities: $75.49M
Current Liabilities: $75.49M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
-0.83
Short-Term Debt: $33.33M
Long-Term Debt: $0.00
Total Debt: $33.33M
Total Equity: -$40.30M
Long-Term Debt: $0.00
Total Debt: $33.33M
Total Equity: -$40.30M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$7.11
Revenue: $99.69M
Shares: 14,012,298
Shares: 14,012,298
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$-2.88
Total Equity: -$40.30M
Shares: 14,012,298
Shares: 14,012,298
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-2.47
Operating CF: -$33.44M
CapEx: -$1.13M
Shares: 14,012,298
CapEx: -$1.13M
Shares: 14,012,298
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $4.33
Stock Price: $4.33
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$76.92M
Net Income: -$76.92M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares FTCI against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: May 7, 2026 10:45am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $270.5M | $123.1M | $127.0M | $47.4M | $99.7M |
| Cost of Revenue | $303.1M | $150.3M | $118.7M | $59.9M | $98.6M |
| Gross Profit | -$32.5M | -$27.2M | $8.3M | -$12.6M | $1.1M |
| Operating Expenses | $94.3M | $72.3M | $59.1M | $40.2M | $34.5M |
| Operating Income | -$126.8M | -$99.6M | -$50.8M | -$52.8M | -$33.4M |
| Net Income | -$106.6M | -$99.6M | -$50.3M | -$48.6M | -$76.9M |
| EBITDA | -$105.4M | -$97.3M | -$49.0M | -$46.4M | -$32.1M |
| EPS | $-12.39 | $-9.82 | $-4.35 | $-3.83 | $-5.49 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: May 7, 2026 10:45am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $102.2M | $44.4M | $25.2M | $11.2M | $21.1M |
| Total Current Assets | $235.8M | $118.7M | $108.5M | $76.1M | $97.8M |
| Total Assets | $243.0M | $134.4M | $123.1M | $89.9M | $111.8M |
| Current Liabilities | $93.2M | $60.3M | $54.7M | $49.1M | $75.5M |
| Long-Term Debt | $0 | $0 | $0 | $9.5M | $0 |
| Total Liabilities | $100.2M | $67.9M | $60.6M | $70.9M | $152.1M |
| Total Equity | $142.9M | $66.5M | $62.5M | $19.0M | -$40.3M |
| Retained Earnings | -$149.2M | -$248.8M | -$299.1M | -$347.7M | -$424.7M |
Cash Flow (Annual)
Last updated: May 7, 2026 10:45am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$132.9M | -$54.5M | -$52.7M | -$34.7M | -$33.4M |
| Capital Expenditure | -$1.0M | $-985,000 | $-816,000 | -$1.6M | -$1.1M |
| Free Cash Flow | -$133.9M | -$55.5M | -$53.5M | -$36.3M | -$34.6M |
| Acquisitions (net) | $22.3M | -$3.3M | $419,000 | $0 | $580,000 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$54.2M | $0 | $0 | $0 | $0 |
| Net Change in Cash | $68.8M | -$57.8M | -$19.2M | -$14.0M | $9.9M |
Analyst Estimates (Annual)
Last updated: May 14, 2026 3:15am (just now)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$206.6M $189.1M – $224.0M
|
$242.9M $242.9M – $242.9M
|
$356.2M $313.3M – $429.1M
|
$459.1M $403.9M – $553.2M
|
| EBITDA |
-$118.5M -$128.5M – -$108.5M
|
-$139.3M -$139.3M – -$139.3M
|
-$204.3M -$246.1M – -$179.7M
|
-$263.3M -$317.3M – -$231.6M
|
| Net Income |
-$4.8M -$9.8M – $208,539
|
-$7.0M -$46.8M – $67.4M
|
$9.1M $7.7M – $11.5M
|
$17.8M $15.0M – $22.5M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: May 7, 2026 10:45am (6d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -54.5% | +3.2% | -62.7% | +110.5% |
| Gross Profit Growth | +16.3% | +130.5% | -251.6% | +109.0% |
| Operating Income Growth | +21.5% | +49.0% | -4.0% | +36.7% |
| Net Income Growth | +6.5% | +49.5% | +3.3% | -58.3% |
| EBITDA Growth | +7.7% | +49.6% | +5.3% | +30.7% |
Insider Trading (Recent)
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-07 | ALVAREZ ANTONIO R | P-Purchase | 2,500.00 | $4.23 | $10,575 |
| 2026-05-06 | ALVAREZ ANTONIO R | P-Purchase | 2,500.00 | $3.98 | $9,950 |
| 2026-05-06 | Carroll Anthony | P-Purchase | 7,250.00 | $3.43 | $24,868 |
| 2026-05-06 | SADASIVAM SHAKER | P-Purchase | 27,025.00 | $3.70 | $99,993 |
| 2026-05-04 | Carroll Anthony | A-Award | 200,000.00 | $0.00 | $0 |
| 2026-05-04 | Carroll Anthony | A-Award | 400,000.00 | $0.00 | $0 |
| 2026-01-15 | Aminpour Sasan | A-Award | 25,000.00 | $0.00 | $0 |
| 2025-12-30 | Behnen Cathy | S-Sale | 1,646.00 | $10.93 | $17,991 |
| 2025-12-30 | Aminpour Sasan | S-Sale | 3,239.00 | $10.93 | $35,402 |
| 2025-12-30 | Brandt Yann | S-Sale | 37,450.00 | $10.83 | $405,584 |
| 2025-12-30 | Brandt Yann | S-Sale | 325.00 | $11.67 | $3,793 |
| 2025-12-16 | Carroll Anthony | P-Purchase | 10,638.00 | $9.53 | $101,380 |
| 2025-12-15 | Carroll Anthony | A-Award | 13,567.00 | $0.00 | $0 |
| 2025-12-15 | Carroll Anthony | 45,000.00 | $6.70 | $301,500 | |
| 2025-12-02 | Brandt Yann | G-Gift | 2,500.00 | $0.00 | $0 |
| 2025-11-18 | Springer David | S-Sale | 100,000.00 | $8.98 | $898,000 |
| 2025-10-20 | Aminpour Sasan | A-Award | 125,000.00 | $0.00 | $0 |
| 2025-10-20 | Behnen Cathy | A-Award | 150,000.00 | $0.00 | $0 |
| 2025-10-20 | Brandt Yann | A-Award | 400,000.00 | $0.00 | $0 |
| 2025-08-05 | ALVAREZ ANTONIO R | A-Award | 7,707.00 | $0.00 | $0 |
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.207 · 22a3a690 · 2026-05-13 17:39:54