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Stem, Inc.

STEM NYSE Categories PDF
Technology · Software - Infrastructure · United States · Updated May 11, 1:50pm
$9.14
Price
$81.8M
Market Cap
569
Employees
1.52
Beta
Arun Narayanan
CEO
Business Description

Stem, 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.

Business History
Price Overview
Last updated: May 11, 2026 1:50pm (just now)
$9.14
-0.03 (-0.27%)
Day Range
$8.69 – $9.41
52-Week Range
$5.93 – $32.23
50-Day MA
$10.26
200-Day MA
$15.32
Volume
139,315.00
Analyst Price Targets
Low $10.00
Consensus $10.50
High $11.00
(16 analysts)
Share Structure
Outstanding 8,956,950.00
Float 8,294,611.00
Free Float 92.6%
High free float — 92.6% of shares trade freely, ~7.4% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Small absolute float (8.3M shares) — even with a decent free float %, volume can be thin. Check average daily volume before sizing a position.
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)
API
Stock Price / EPS (Diluted)
0.56
Stock Price: $9.14
EPS (Diluted): 16.52
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
-0.50
Stock Price: $9.14
Total Equity: -$249.06M
Shares: 8,489,879
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
1.98
Market Cap: $81.82M
Total Debt: $329.18M
Cash: $48.92M
EBITDA: -$11.90M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$445.2M
Market Cap: $81.82M
Total Debt: $329.18M
Cash: $48.92M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
38.4%
Gross Profit: $55.16M
Revenue: $156.27M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
-35.6%
Operating Income: -$60.49M
Revenue: $156.27M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
88.2%
Net Income: $137.76M
Revenue: $156.27M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
-57.8%
Net Income: $137.76M
Total Equity: -$249.06M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
-38.5%
Operating Income: -$60.49M
Tax Rate: 0.4%
Equity: -$249.06M
Total Debt: $329.18M
Cash: $48.92M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
0.91
Current Assets: $100.09M
Current Liabilities: $110.57M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
-1.32
Short-Term Debt: $16.79M
Long-Term Debt: $312.39M
Total Debt: $329.18M
Total Equity: -$249.06M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$18.41
Revenue: $156.27M
Shares: 8,489,879
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$-29.34
Total Equity: -$249.06M
Shares: 8,489,879
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$0.81
Operating CF: $6.86M
CapEx: $0.00
Shares: 8,489,879
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $9.14
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $137.76M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares STEM 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)
Metric 2021 2022 2023 2024 2025
Revenue $127.4M $363.0M $461.5M $144.6M $156.3M
Cost of Revenue $126.1M $329.9M $457.9M $155.6M $101.1M
Gross Profit $1.2M $33.1M $3.7M -$11.1M $55.2M
Operating Expenses $84.3M $164.2M $183.0M $828.4M $115.6M
Operating Income -$83.1M -$131.1M -$179.3M -$839.5M -$60.5M
Net Income -$101.2M -$124.1M -$140.4M -$854.0M $137.8M
EBITDA -$63.0M -$87.7M -$79.2M -$790.4M -$11.9M
EPS $-19.18 $-16.17 $-18.05 $-105.80 $16.52
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $747.8M $87.9M $105.4M $56.3M $48.9M
Total Current Assets $1.0B $532.8M $473.0M $136.6M $100.1M
Total Assets $1.2B $1.4B $1.4B $437.4M $308.9M
Current Liabilities $88.0M $267.0M $251.1M $128.8M $110.6M
Long-Term Debt $318.2M $449.5M $523.6M $525.9M $312.4M
Total Liabilities $524.0M $869.7M $930.3M $835.2M $557.9M
Total Equity $667.8M $551.6M $426.2M -$398.4M -$249.1M
Retained Earnings -$509.1M -$632.1M -$772.5M -$1.6B -$1.5B
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow -$101.3M -$106.0M -$207.4M -$36.7M $6.9M
Capital Expenditure -$10.2M -$4.1M -$18.2M -$11.8M $0
Free Cash Flow -$111.4M -$110.1M -$225.6M -$48.4M $6.9M
Acquisitions (net) $0 -$532.5M -$1.8M $0 $-158,000
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 $0 $0 $0 $0
Net Change in Cash $740.8M -$659.9M $18.6M -$48.4M -$7.4M
Analyst Estimates (Annual)
Metric 2025 2026 2027 2028
Revenue $150.9M
$139.5M – $160.3M
 $162.7M
$150.4M – $172.9M
 $186.8M
$172.7M – $198.4M
 $244.6M
$244.6M – $244.6M
EBITDA -$27.4M
-$29.1M – -$25.3M
 -$29.5M
-$31.4M – -$27.3M
 -$33.9M
-$36.0M – -$31.3M
 -$44.4M
-$44.4M – -$44.4M
Net Income -$42.3M
-$46.2M – -$38.5M
 -$63.4M
-$69.8M – -$58.2M
 -$51.1M
-$52.3M – -$43.6M
 -$30.0M
-$32.7M – -$27.3M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +185.0% +27.1% -68.7% +8.1%
Gross Profit Growth +2,553.7% -88.9% -401.7% +598.8%
Operating Income Growth -57.8% -36.8% -368.1% +92.8%
Net Income Growth -22.6% -13.2% -508.2% +116.1%
EBITDA Growth -39.2% +9.7% -898.4% +98.5%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-03-11 Tappin Matthew S-Sale 402.00 $10.83 $4,354
2026-03-07 Tappin Matthew M-Exempt 1,458.00 $0.00 $0
2026-03-10 Tappin Matthew S-Sale 655.00 $11.12 $7,284
2026-03-07 Tappin Matthew M-Exempt 1,458.00 $0.00 $0
2026-03-07 Laureles Saul R. M-Exempt 2,916.00 $0.00 $0
2026-03-10 Laureles Saul R. S-Sale 942.00 $11.12 $10,475
2026-03-07 Laureles Saul R. M-Exempt 2,916.00 $0.00 $0
2026-03-07 Carlson Michael James M-Exempt 3,541.00 $0.00 $0
2026-03-10 Carlson Michael James S-Sale 2,079.00 $11.12 $23,118
2026-03-07 Carlson Michael James M-Exempt 3,541.00 $0.00 $0
2026-03-07 Narayanan Arun M-Exempt 12,500.00 $0.00 $0
2026-03-07 Narayanan Arun M-Exempt 5,625.00 $0.00 $0
2026-03-10 Narayanan Arun S-Sale 5,145.00 $11.12 $57,212
2026-03-07 Narayanan Arun M-Exempt 12,500.00 $0.00 $0
2026-03-07 Narayanan Arun M-Exempt 5,625.00 $0.00 $0
2026-03-03 Laureles Saul R. S-Sale 292.00 $9.67 $2,824
2026-03-03 Tappin Matthew S-Sale 300.00 $9.67 $2,901
2026-03-04 Tappin Matthew S-Sale 185.00 $10.00 $1,850
2026-02-26 Narayanan Arun A-Award 57,600.00 $0.00 $0
2026-02-26 Narayanan Arun A-Award 38,400.00 $0.00 $0
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27