ZEO · Zeo Energy Corp. - 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 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.18M | - | $23.90M | $18.10M | $20.14M | - | $19.66M | $30.08M | $19.49M | - |
| Cost of Revenue | $7.58M | - | $10.05M | $7.06M | $4.92M | - | $20.47M | - | - | - |
| Gross Profit | $5.60M | - | $13.84M | $11.04M | $15.23M | - | ($815.2K) | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $6.28M | - | $5.99M | $4.87M | $10.47M | - | $7.15M | $5.91M | $3.34M | - |
| Total Operating Expenses | $17.95M | - | $25.88M | $17.46M | $22.30M | - | $22.64M | $16.91M | $21.10M | - |
| D&A | $34.1K | - | $499.9K | $453.7K | $4.90M | - | $499.9K | $489.6K | $425.4K | - |
| Operating Income | ($4.77M) | - | ($1.98M) | ($2.85M) | ($13.51M) | - | ($2.98M) | ($2.20M) | ($1.61M) | - |
| Interest Expense | $10.9K | - | $129.7K | ($30.0K) | $30.3K | - | ($10.4K) | $24.0K | $37.1K | - |
| Income Tax | ($92.1K) | - | $48.8K | ($187.0K) | $523.5K | - | ($44.1K) | ($61.2K) | ($89.9K) | - |
| Net Income | ($3.51M) | - | ($3.23M) | ($2.42M) | ($6.36M) | - | ($424.3K) | ($217.2K) | ($1.19M) | - |
| EPS - Basic | - | - | - | - | ($0.48) | - | ($0.08) | $0.03 | ($1.54) | - |
| EPS - Diluted | - | - | - | - | ($0.48) | - | ($0.08) | $0.03 | ($1.54) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.73M | $6.14M | $3.92M | $68.7K | $2.89M | $5.63M | $4.33M | $5.34M | $7.73M | $60.5K |
| Accounts Receivable | $10.36M | $8.16M | $10.92M | $5.41M | $5.00M | $10.19M | $8.52M | $7.21M | $2.97M | - |
| Inventory | $854.7K | $852.2K | $934.9K | $917.7K | $847.4K | $872.5K | $482.3K | $436.9K | $350.4K | - |
| Accounts Payable | $5.01M | $3.77M | $3.45M | $5.05M | $3.57M | $2.78M | $4.86M | $3.39M | $3.79M | - |
| Current Assets | $20.03M | $22.55M | $23.92M | $10.82M | $10.26M | $18.89M | $15.59M | $17.90M | $19.93M | $79.8K |
| Total Assets | $56.53M | $56.93M | $58.50M | $46.23M | $47.45M | $60.98M | $47.10M | $49.07M | $51.59M | $16.10M |
| Current Liabilities | $12.11M | $8.39M | $10.91M | $14.21M | $13.72M | $14.97M | $10.01M | $8.23M | $8.88M | $7.79M |
| Long-term Debt | $49.3K | $55.6K | $61.7K | $337.5K | $414.3K | $496.6K | $567.6K | $1.18M | $1.28M | - |
| Total Liabilities | $13.10M | $9.45M | $12.42M | $16.28M | $15.89M | $18.06M | $13.56M | $12.21M | $13.85M | $8.91M |
| Stockholders' Equity | $13.68M | $5.33M | ($1.72M) | ($59.45M) | ($23.08M) | ($88.91M) | ($39.33M) | ($51.12M) | $31.28M | ($8.83M) |
| Retained Earnings | ($51.39M) | ($58.06M) | ($61.81M) | ($96.22M) | ($39.57M) | ($103.44M) | ($43.21M) | ($53.16M) | ($169.61M) | ($8.83M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($852.8K) | - | - | - | ($2.26M) | - | - | - | ($10.15M) | - |
| Investing Cash Flow | ($3.36M) | - | - | - | ($372.6K) | - | - | - | ($226.1K) | - |
| Financing Cash Flow | ($198.1K) | - | - | - | ($104.0K) | - | - | - | $10.09M | - |
| CapEx | $205.3K | - | - | - | $372.6K | - | - | - | $226.1K | - |
| Free Cash Flow | ($1.06M) | - | - | - | ($2.64M) | - | - | - | ($10.38M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 42.5% | - | 57.9% | 61.0% | 75.6% | - | -4.1% | - | - | - |
| Operating margin | -36.1% | - | -8.3% | -15.8% | -67.1% | - | -15.2% | -7.3% | -8.3% | - |
| EBITDA margin | -35.9% | - | -6.2% | -13.3% | -42.7% | - | -12.6% | -5.7% | -6.1% | - |
| Net margin | -26.6% | - | -13.5% | -13.3% | -31.6% | - | -2.2% | -0.7% | -6.1% | - |
| Free cash flow margin | -8.0% | - | - | - | -13.1% | - | - | - | -53.3% | - |
| FCF / Net income | 0.30 | - | - | - | 0.41 | - | - | - | 8.73 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 47.6% | - | 25.0% | 26.9% | 52.0% | - | 36.4% | 19.6% | 17.1% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -6.2% | - | -5.5% | -5.2% | -13.4% | - | -0.9% | -0.4% | -2.3% | - |
| Return on equity | -25.7% | - | 187.4% | 4.1% | 27.6% | - | 1.1% | 0.4% | -3.8% | - |
| Return on invested capital | -27.4% | - | - | - | - | - | - | - | -3.9% | - |
| Liquidity | ||||||||||
| Current ratio | 1.65 | 2.69 | 2.19 | 0.76 | 0.75 | 1.26 | 1.56 | 2.17 | 2.24 | 0.01 |
| Quick ratio | 1.58 | 2.59 | 2.11 | 0.70 | 0.69 | 1.20 | 1.51 | 2.12 | 2.21 | 0.01 |
| Cash ratio | 0.14 | 0.73 | 0.36 | 0.00 | 0.21 | 0.38 | 0.43 | 0.65 | 0.87 | 0.01 |
| Leverage | ||||||||||
| Debt / Equity | 0.00 | 0.01 | -0.04 | -0.01 | -0.02 | -0.01 | -0.01 | -0.02 | 0.04 | - |
| Debt / Assets | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -439.1x | - | -15.3x | 95.2x | -446.3x | - | 286.9x | -91.5x | -43.6x | - |
| Equity multiplier | 4.13 | 10.68 | -33.99 | -0.78 | -2.06 | -0.69 | -1.20 | -0.96 | 1.65 | -1.82 |
| Liabilities / Assets | 0.23 | 0.17 | 0.21 | 0.35 | 0.33 | 0.30 | 0.29 | 0.25 | 0.27 | 0.55 |
| Efficiency | ||||||||||
| Asset turnover | 0.23 | - | 0.41 | 0.39 | 0.42 | - | 0.42 | 0.61 | 0.38 | - |
| Inventory turnover | 8.87 | - | 10.75 | 7.69 | 5.80 | - | 42.45 | - | - | - |
| Days sales outstanding | 287d | - | 167d | 109d | 91d | - | 158d | 87d | 56d | - |
| Days inventory outstanding | 41d | - | 34d | 47d | 63d | - | 9d | - | - | - |
| Days payable outstanding | 241d | - | 125d | 261d | 265d | - | 87d | - | - | - |
| Cash conversion cycle | 87d | - | 76d | -105d | -112d | - | 80d | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | 71.7x | - | - |
| P / B | - | - | - | - | - | - | - | - | 0.2x | - |
| P / S | - | - | - | - | 1.0x | - | 0.4x | 0.4x | 0.3x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -34.5% | - | 21.6% | -39.8% | 3.4% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -63.2% | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 64.7% | - | 33.6% | -30.0% | -737.1% | - | -259.8% | -20.5% | -6.7% | - |
| Net income growth (YoY) | 44.8% | - | -660.1% | -1012.5% | -435.2% | - | - | 84.6% | 17.8% | - |
| EPS growth (YoY) | - | - | - | - | 68.8% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 59.9% | - | - | - | 74.6% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | - | 95.6% | -16.3% | - | -907.4% | -407.7% | -571.2% | - | 26.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$69.35M totalSunergy$69.35M · 100.0%
Product / service
$69.35M totalSolar System Installations Net$68.15M · 98.3%
Roofing Installations$1.20M · 1.7%
Peer comparison
Same SIC group: Construction - Special Trade Contractors
Comparing Zeo Energy Corp. against the 5 most active filers in the same SIC group.