OESX · Orion Energy Systems, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $79.72M | $90.58M | $77.38M | $124.38M | $116.84M | $150.84M |
| Cost of Revenue | $59.48M | $69.67M | $59.87M | $90.47M | $86.72M | $113.72M |
| Gross Profit | $20.24M | $20.91M | $17.51M | $33.91M | $30.12M | $37.12M |
| R&D | $1.23M | $1.50M | $1.85M | $1.70M | $1.69M | $1.72M |
| SG&A | $18.01M | $16.74M | $19.49M | $11.68M | $11.26M | $11.18M |
| Total Operating Expenses | $30.83M | $31.73M | $33.50M | $25.52M | $23.29M | $24.01M |
| D&A | $1.34M | $1.41M | $2.10M | $1.62M | $1.48M | $1.56M |
| Operating Income | ($10.60M) | ($10.82M) | ($15.98M) | $8.39M | $6.84M | $13.11M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $42.0K | $41.0K | $17.98M | $2.16M | ($19.62M) | $159.0K |
| Net Income | ($11.80M) | ($11.67M) | ($34.34M) | $6.09M | $26.13M | $12.46M |
| EPS - Basic | ($3.60) | ($3.60) | ($10.80) | $2.00 | $8.50 | $4.10 |
| EPS - Diluted | ($3.60) | ($3.60) | ($10.80) | $1.90 | $8.30 | $4.00 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.97M | $5.16M | $15.99M | $14.47M | $19.39M | $28.75M |
| Accounts Receivable | $12.85M | $14.02M | $13.73M | $11.90M | $13.57M | $10.43M |
| Inventory | $11.39M | $18.25M | $18.20M | $19.83M | $19.55M | $14.51M |
| Accounts Payable | $13.27M | $18.35M | $13.40M | $9.86M | $17.05M | $19.83M |
| Current Assets | $35.50M | $44.82M | $50.36M | $51.25M | $56.53M | $54.97M |
| Total Assets | $52.46M | $63.17M | $71.58M | $86.82M | $92.82M | $72.56M |
| Current Liabilities | $26.84M | $28.05M | $24.45M | $18.37M | $30.37M | $27.20M |
| Long-term Debt | $9.97M | $10.00M | $10.00M | $19.0K | $35.0K | $10.06M |
| Total Liabilities | $40.58M | $40.63M | $38.33M | $21.72M | $34.75M | $41.53M |
| Stockholders' Equity | $11.88M | $22.54M | $33.25M | $65.10M | $58.07M | $31.04M |
| Retained Earnings | ($114.89M) | ($103.09M) | ($91.42M) | ($57.08M) | ($63.17M) | ($89.31M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $599.0K | ($10.09M) | ($2.29M) | ($113.0K) | $1.73M | $20.34M |
| Investing Cash Flow | $128.0K | ($731.0K) | ($6.20M) | ($4.92M) | ($946.0K) | ($936.0K) |
| Financing Cash Flow | $90.0K | ($14.0K) | $10.01M | $104.0K | ($10.14M) | $615.0K |
| CapEx | $99.0K | $837.0K | $586.0K | $518.0K | $902.0K | $814.0K |
| Free Cash Flow | $500.0K | ($10.93M) | ($2.88M) | ($631.0K) | $827.0K | $19.53M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 25.4% | 23.1% | 22.6% | 27.3% | 25.8% | 24.6% |
| Operating margin | -13.3% | -11.9% | -20.7% | 6.7% | 5.9% | 8.7% |
| EBITDA margin | -11.6% | -10.4% | -17.9% | 8.0% | 7.1% | 9.7% |
| Net margin | -14.8% | -12.9% | -44.4% | 4.9% | 22.4% | 8.3% |
| Free cash flow margin | 0.6% | -12.1% | -3.7% | -0.5% | 0.7% | 12.9% |
| FCF / Net income | -0.04 | 0.94 | 0.08 | -0.10 | 0.03 | 1.57 |
| R&D / Revenue | 1.5% | 1.7% | 2.4% | 1.4% | 1.4% | 1.1% |
| SG&A / Revenue | 22.6% | 18.5% | 25.2% | 9.4% | 9.6% | 7.4% |
| Effective tax rate | - | - | - | 26.2% | -301.0% | 1.3% |
| Return on assets | -22.5% | -18.5% | -48.0% | 7.0% | 28.2% | 17.2% |
| Return on equity | -99.3% | -51.8% | -103.3% | 9.4% | 45.0% | 40.2% |
| Return on invested capital | -38.3% | -26.3% | -29.2% | 9.5% | 11.8% | 31.5% |
| Liquidity | ||||||
| Current ratio | 1.32 | 1.60 | 2.06 | 2.79 | 1.86 | 2.02 |
| Quick ratio | 0.90 | 0.95 | 1.31 | 1.71 | 1.22 | 1.49 |
| Cash ratio | 0.22 | 0.18 | 0.65 | 0.79 | 0.64 | 1.06 |
| Leverage | ||||||
| Debt / Equity | 0.84 | 0.44 | 0.30 | 0.00 | 0.00 | 0.32 |
| Debt / Assets | 0.19 | 0.16 | 0.14 | 0.00 | 0.00 | 0.14 |
| Debt / EBITDA | - | - | - | 0.00 | 0.00 | 0.69 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 4.41 | 2.80 | 2.15 | 1.33 | 1.60 | 2.34 |
| Liabilities / Assets | 0.77 | 0.64 | 0.54 | 0.25 | 0.37 | 0.57 |
| Efficiency | ||||||
| Asset turnover | 1.52 | 1.43 | 1.08 | 1.43 | 1.26 | 2.08 |
| Inventory turnover | 5.22 | 3.82 | 3.29 | 4.56 | 4.43 | 7.84 |
| Days sales outstanding | 59d | 57d | 65d | 35d | 42d | 25d |
| Days inventory outstanding | 70d | 96d | 111d | 80d | 82d | 47d |
| Days payable outstanding | 81d | 96d | 82d | 40d | 72d | 64d |
| Cash conversion cycle | 47d | 56d | 94d | 75d | 53d | 8d |
| Valuation | ||||||
| P / E | - | - | - | 14.7x | 8.4x | 9.3x |
| P / B | 19.9x | 12.5x | 19.4x | 13.5x | 37.5x | 36.9x |
| P / S | 3.0x | 3.1x | 8.3x | 7.0x | 18.6x | 7.6x |
| EV / EBITDA | - | - | - | 86.1x | 259.7x | 76.8x |
| Growth | ||||||
| Revenue growth (YoY) | -12.0% | 17.1% | -37.8% | 6.5% | -22.5% | 129.4% |
| Revenue CAGR (3y) | -13.8% | -8.1% | -19.9% | 23.7% | 24.7% | 29.0% |
| Revenue CAGR (5y) | -12.0% | 6.6% | 5.1% | 12.1% | 11.6% | - |
| Gross profit growth (YoY) | -3.2% | 19.4% | -48.4% | 12.6% | -18.9% | 155.1% |
| Operating income growth (YoY) | 2.1% | 32.3% | - | 22.7% | -47.9% | - |
| Net income growth (YoY) | -1.1% | 66.0% | - | -76.7% | 109.7% | - |
| EPS growth (YoY) | 0.0% | 66.7% | - | -77.1% | 107.5% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | -279.9% | -355.9% | - | -95.8% | - |
| FCF CAGR (5y) | -52.0% | - | - | - | - | - |
| Book value growth (YoY) | -47.3% | -32.2% | -48.9% | 12.1% | 87.1% | 72.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-03-31.
Business segments
$81.52M totalLighting Segment$47.70M · 58.5%
Electric Vehicle Charging Systems$16.83M · 20.6%
Maintenance Services$15.19M · 18.6%
Outside The United States In Germany$1.80M · 2.2%
Product / service
$80.52M totalProduct$54.37M · 67.5%
Service$25.35M · 31.5%
Product Light Fixture Sales Type Lease$700.0K · 0.9%
Product Legacy Solar Facilities$100.0K · 0.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-0.72
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Electric Lighting & Wiring Equipment
Comparing ORION ENERGY SYSTEMS against the 5 most active filers in the same SIC group.