company background image
FTCI

FTC Solar NasdaqGM:FTCI Stock Report

Last Price

US$4.57

Market Cap

US$456.1m

7D

2.2%

1Y

-62.2%

Updated

26 Jun, 2022

Data

Company Financials +
FTCI fundamental analysis
Snowflake Score
Valuation2/6
Future Growth6/6
Past Performance0/6
Financial Health5/6
Dividends0/6

FTCI Stock Overview

FTC Solar, Inc. provides solar tracker systems, technology, software, and engineering services in the United States, Vietnam, and internationally.

FTC Solar Competitors

Price History & Performance

Summary of all time highs, changes and price drops for FTC Solar
Historical stock prices
Current Share PriceUS$4.57
52 Week HighUS$13.98
52 Week LowUS$2.12
Beta0
1 Month Change1.56%
3 Month Change-21.88%
1 Year Change-62.23%
3 Year Changen/a
5 Year Changen/a
Change since IPO-67.95%

Recent News & Updates

Jun 13

A First Look At FTC Solar

Today, we take our first look at FTC Solar Inc., a company that has been challenged with most of the solar industry here in 2022. The stock has seen some recent insider buying and analysts project much better times for the company in 2023. An investment analysis follows in the paragraphs below.

May 12
Earnings Update: FTC Solar, Inc. (NASDAQ:FTCI) Just Reported And Analysts Are Trimming Their Forecasts

Earnings Update: FTC Solar, Inc. (NASDAQ:FTCI) Just Reported And Analysts Are Trimming Their Forecasts

It's shaping up to be a tough period for FTC Solar, Inc. ( NASDAQ:FTCI ), which a week ago released some disappointing...

Shareholder Returns

FTCIUS ElectricalUS Market
7D2.2%4.9%6.6%
1Y-62.2%-26.9%-18.4%

Return vs Industry: FTCI underperformed the US Electrical industry which returned -26.9% over the past year.

Return vs Market: FTCI underperformed the US Market which returned -18.4% over the past year.

Price Volatility

Is FTCI's price volatile compared to industry and market?
FTCI volatility
FTCI Average Weekly Movement19.7%
Electrical Industry Average Movement11.6%
Market Average Movement8.1%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.2%

Stable Share Price: FTCI is more volatile than 90% of US stocks over the past 3 months, typically moving +/- 20% a week.

Volatility Over Time: FTCI's weekly volatility has increased from 14% to 20% over the past year.

About the Company

FoundedEmployeesCEOWebsite
2017223Sean Hunklerhttps://ftcsolar.com

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.

FTC Solar Fundamentals Summary

How do FTC Solar's earnings and revenue compare to its market cap?
FTCI fundamental statistics
Market CapUS$456.13m
Earnings (TTM)-US$126.94m
Revenue (TTM)US$254.37m

1.8x

P/S Ratio

-3.6x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FTCI income statement (TTM)
RevenueUS$254.37m
Cost of RevenueUS$296.32m
Gross Profit-US$41.95m
Other ExpensesUS$84.99m
Earnings-US$126.94m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-1.27
Gross Margin-16.49%
Net Profit Margin-49.90%
Debt/Equity Ratio0%

How did FTCI perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is FTCI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FTCI?

Other financial metrics that can be useful for relative valuation.

FTCI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.6x
Enterprise Value/EBITDA-2.8x
PEG Ration/a

Price to Sales Ratio vs Peers

How does FTCI's PS Ratio compare to its peers?

FTCI PS Ratio vs Peers
The above table shows the PS ratio for FTCI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average14.1x
THR Thermon Group Holdings
1.4x4.0%US$491.3m
AMOT Allied Motion Technologies
0.9x11.6%US$357.9m
HLGN Heliogen
53.4x61.0%US$631.7m
PLPC Preformed Line Products
0.6xn/aUS$317.8m
FTCI FTC Solar
1.8x33.2%US$456.1m

Price-To-Sales vs Peers: FTCI is good value based on its Price-To-Sales Ratio (1.8x) compared to the peer average (14.1x).


Price to Earnings Ratio vs Industry

How does FTCI's PE Ratio compare vs other companies in the US Electrical Industry?

Price-To-Sales vs Industry: FTCI is good value based on its Price-To-Sales Ratio (1.8x) compared to the US Electrical industry average (1.8x)


Price to Sales Ratio vs Fair Ratio

What is FTCI's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FTCI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.8x
Fair PS Ratio1x

Price-To-Sales vs Fair Ratio: FTCI is expensive based on its Price-To-Sales Ratio (1.8x) compared to the estimated Fair Price-To-Sales Ratio (1x).


Share Price vs Fair Value

What is the Fair Price of FTCI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FTCI ($4.57) is trading above our estimate of fair value ($1.2)

Significantly Below Fair Value: FTCI is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FTCI's PEG Ratio to determine if it is good value.


Discover undervalued companies

Future Growth

How is FTC Solar forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

Future Growth Score

6/6

Future Growth Score 6/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


86.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FTCI is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: FTCI is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: FTCI is expected to become profitable in the next 3 years.

Revenue vs Market: FTCI's revenue (33.2% per year) is forecast to grow faster than the US market (8.4% per year).

High Growth Revenue: FTCI's revenue (33.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FTCI's Return on Equity is forecast to be high in 3 years time (29.4%)


Discover growth companies

Past Performance

How has FTC Solar performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-373.9%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: FTCI is currently unprofitable.

Growing Profit Margin: FTCI is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if FTCI's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare FTCI's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: FTCI is unprofitable, making it difficult to compare its past year earnings growth to the Electrical industry (31.2%).


Return on Equity

High ROE: FTCI has a negative Return on Equity (-105.52%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is FTC Solar's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: FTCI's short term assets ($204.3M) exceed its short term liabilities ($84.5M).

Long Term Liabilities: FTCI's short term assets ($204.3M) exceed its long term liabilities ($6.8M).


Debt to Equity History and Analysis

Debt Level: FTCI is debt free.

Reducing Debt: FTCI had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: FTCI has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: FTCI has sufficient cash runway for 1.1 years if free cash flow continues to reduce at historical rates of 115.5% each year.


Discover healthy companies

Dividend

What is FTC Solar current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate FTCI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FTCI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FTCI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FTCI's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as FTCI has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

0.5yrs

Average management tenure


CEO

Sean Hunkler (59 yo)

0.75

Tenure

US$14,721,177

Compensation

Mr. Sean Hunkler serves as President, Chief Executive Officer and Director since FTC Solar, Inc. since September 24, 2021. He served as Executive Vice President of Global Operations at Western Digital Corp...


CEO Compensation Analysis

Compensation vs Market: Sean's total compensation ($USD14.72M) is above average for companies of similar size in the US market ($USD2.83M).

Compensation vs Earnings: Insufficient data to compare Sean's compensation with company performance.


Leadership Team

Experienced Management: FTCI's management team is not considered experienced ( 0.5 years average tenure), which suggests a new team.


Board Members

Experienced Board: FTCI's board of directors are considered experienced (3.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FTCI insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 18.4%.


Top Shareholders

Company Information

FTC Solar, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: FTC Solar, Inc.
  • Ticker: FTCI
  • Exchange: NasdaqGM
  • Founded: 2017
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Implied Market Cap: US$456.134m
  • Shares outstanding: 99.81m
  • Website: https://ftcsolar.com

Number of Employees


Location

  • FTC Solar, Inc.
  • 9050 North Capital of Texas Highway
  • Suite I-260
  • Austin
  • Texas
  • 78759
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.