Solid Power, Inc.
SLDPAbout the company
Solid Power, Inc., a research and development-stage company, develops solid-state battery technologies for the electric vehicles markets in the United States. It engages in the development of sulfide-based solid electrolytes. The company was founded in 2011 and is headquartered in Louisville, Colorado.
Investment snapshot
Positive
2
BUY / PASS
Neutral / negative
2 / 12
NEUTRAL / FAIL
Median fair value
—
No comparable estimates
Models with upside
0 / 17
Positive margin of safety
Strongest signal
8 of 12 pass — Graham, Buffett, Lynch +1 more object
Key risk
No clean pass — all 13 investors flag at least one valuation criterion
Framework analysis
| Verdict | Meaning |
|---|---|
| BUY | Positive purchase signal: the framework's buy requirements are met. |
| PASS | The company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state. |
| NEUTRAL | Neither a positive nor negative conclusion. It does not mean to hold an existing position. |
| FAIL | The company does not clear the framework's requirements. |
| Ranked | Ranked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL. |
Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.
| Metric | Graham Defensive Value | Buffett Quality Compounder | Lynch GARP | Greenblatt Magic Formula | Piotroski F-Score | Dreman Contrarian Value | Munger Quality Focus | Pabrai Dhandho Framework | Akre Three-Legged Stool | Marks Risk-Aware Value | Ackman Activist Value | Templeton Global Bargain Hunter | Sleep Scale Economies Shared | Asness Systematic Factors | Neff Low-P/E Total Return | Schloss Asset-Value Discipline | O'Shaughnessy Systematic Factor Composite |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Verdict | FAIL | FAIL | FAIL | FAIL · Rank #2425 (Top 78.3%) | PASS | FAIL | FAIL | FAIL | FAIL | FAIL | FAIL | PASS | FAIL | NEUTRAL | FAIL | FAIL | NEUTRAL |
| Score | |||||||||||||||||
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| Intrinsic Value (annual) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Margin of Safety | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financial Basis | TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Annual history · FY 2025 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · Balance sheet at 2026-09-30 · TTM ended 2026-09-30 vs 2025-09-30 · TTM ended 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 Latest source filing: 2026-02-25 Score computed: 2026-11-14 | Annual history · FY 2025 Latest source filing: 2026-02-25 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Market data at 2026-11-01 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Qualitative assessment · Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-02-25 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-09-30 · Qualitative assessment Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Market data at 2026-11-01 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 · Balance sheet at 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-02-25 Score computed: 2026-11-14 | TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Price history 2025-01-01–2026-11-01 · Annual history · FY 2025 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · Balance sheet at 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | TTM ended 2026-09-30 · Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-11-04 Score computed: 2026-11-14 |
Where It Passes
- Debt & Leverage67% pass✓ 11✗ 4▾
8 of 12 pass — Graham, Buffett, Lynch +1 more object
LT Debt vs Net Current Assets✗GrahamLT Debt <= Net Current AssetsDebt/Equity & Interest CoverageD/E: 0.00, IC: -533.0x✗BuffettD/E < 0.5 AND Interest Coverage > 5xTotal Debt / Equity0✓Lynch< 0.33Cash - Long-term Debt✗LynchPositive preferredLT Debt / Total Assets Change0.00% -> 0.00%✓PiotroskiDecreased YoYCurrent Assets / Current Liabilities13.19✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)Total Debt / Shareholders' Equity0✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00xDebt Levels0✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3Interest Coverage & Debt/EBITDAIC=-533.0x, D/EBITDA=N/A✗MarksInterest Coverage > 3x; Debt/EBITDA < 4xTotal Debt / Shareholders Equity0✓Ackman<= 1.0Negative debt-to-equity (higher means less debt)-0.0003; #306/4210 (top 7.3%)✓AsnessTop 30% of eligible cross-section
Where It Falls Short
- Valuation0% pass✓ 6✗ 22▾
No clean pass — all 13 investors flag at least one valuation criterion
Price / Book Value per Share0.9x✓Dreman< 1.2x✓Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)Price / 3-yr avg EPS✗Graham<= 15xPrice-to-Book Ratio0.9x✓Graham<= 1.5xP/E x P/B✗Graham<= 22.5Basic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)EBIT / Enterprise Value-26.4%✗Greenblatt> 10%Earnings Yield + ROC AssessmentEY=-26.4%, ROC=-32.0%✗GreenblattBoth EY > 10% and ROC > 25%Price / EPS✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)Price / (CFO / Shares)N/A (negative CFPS)✗Dreman< 8xValuation ReasonablenessOE Yield=-24.1%✗MungerP/E < 25 or Owner Earnings Yield > 5%P/E or FCF YieldFCF Yield=-20.7%✗PabraiP/E < 15 or FCF Yield > 10%P/B or P/E vs. Historical AverageP/B=0.9x✓MarksP/E < 15 or P/B < 2.0Discount to Intrinsic ValueN/A (negative normalized EPS)✗Marks>= 20% below intrinsic valuePrice / FCF per ShareN/A (negative FCF)✗Ackman<= 25Price vs. Trailing Low168% of trailing low ($1.05)✗Templeton<= 120% of trailing low (certified split-adjusted live window)Net income / market capitalization-21.88%; #4615/6340 (top 72.8%)✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-sectionPositive book equity / market capitalization+1.1869; #1214/6449 (top 18.8%)✓AsnessTop 30% of eligible cross-sectionPrice / Diluted EPS✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)(EPS CAGR % + Dividend Yield %) / P/E✗Neff> 0.7 (Neff's published traditional edge)Price / Tangible Book Value per Share0.86x✓SchlossP/TBV <= 1.00x (app cutoff)Book Value per Share Change✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)Revenue / market capitalization+0.0190; #4765/5247 (top 90.8%)✗OshaughnessyTop 10% of eligible cross-section(Operating cash flow - capex) / market capitalization-19.72%; #3511/4519 (top 77.7%)✗OshaughnessyTop 10% of eligible cross-sectionTrailing six-month price return through the evaluation date-46.83%; #5052/6202 (top 81.5%)✗OshaughnessyTop 10% of eligible cross-section - Cash Flow0% pass✓ 1✗ 11▾
No clean pass — all 10 investors flag at least one cash flow criterion
Free Cash Flow Proxy$-85.2M✗BuffettPositive and growingFCF Positive and Growing$-79.6M✗LynchPositive and growingOperating Cash Flow$-73.4M✗PiotroskiCFO > 0(CFO / Total Assets) vs ROACFO/Assets=-16.13%, ROA=-20.53%✓PiotroskiCFO/Assets > ROAPrice / (CFO / Shares)N/A (negative CFPS)✗Dreman< 8xP/E or FCF YieldFCF Yield=-20.7%✗PabraiP/E < 15 or FCF Yield > 10%FCF Positive0/6 years FCF positive✗MarksPositive FCF in majority of recent years(OCF - CapEx) / Market Cap-22.5%✗Ackman>= 4%Price / FCF per ShareN/A (negative FCF)✗Ackman<= 25Positive Operating Cash Flow frequency0/6 years positive✗SleepPositive OCF in >= 70% of available yearsOperating Cash Flow - Capital Expenditures$-79.6M✗Neff> $0 (app proxy for a strong fundamental case)(Operating cash flow - capex) / market capitalization-19.72%; #3511/4519 (top 77.7%)✗OshaughnessyTop 10% of eligible cross-section - Profitability13% pass✓ 6✗ 29▾
14 of 16 flag SLDP's profitability — Graham, Buffett, Lynch +11 more
Positive EPS (10 years)1/7 years positive✗GrahamPositive EPS every year for 10 yearsEPS Growth (3-yr avg, 10-yr window)✗Graham>= 33% growthNet Income Positive (10+ years)1/7 years positive✗BuffettPositive every year for 10+ yearsROE (up to 5-year arithmetic mean)-11.5%✗Buffett> 15% arithmetic mean (app rule)Operating Margin (10-yr trend)-463.7% (latest)✓BuffettStable or rising over 10 yearsFree Cash Flow Proxy$-85.2M✗BuffettPositive and growingEarnings Variance (10-yr CoV)✗BuffettCoV < 0.3Retained Earnings Effectiveness✗Buffett$1 retained -> > $1 market value createdBasic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)3-5 Year EPS CAGR✗Lynch15-30% (Fast Grower); > 0% to passROE-18.4%✗Lynch> 15%EBIT / Enterprise Value-26.4%✗Greenblatt> 10%Earnings Yield + ROC AssessmentEY=-26.4%, ROC=-32.0%✗GreenblattBoth EY > 10% and ROC > 25%Net Income / Total Assets-20.53%✗PiotroskiROA > 0ROA Change YoY-21.53% -> -20.53% (delta: +1.01%)✓PiotroskiCurrent ROA > Prior ROA(CFO / Total Assets) vs ROACFO/Assets=-16.13%, ROA=-20.53%✓PiotroskiCFO/Assets > ROAGross Margin Change YoY✗PiotroskiImproved YoYPre-Tax Income / Revenue-1156.4%✗Dreman>= 8%Net Income / Shareholders' Equity-18.4%✗Dreman> 12%Margin of SafetyP/B=0.9x✓PabraiP/B < 1.5 or P/E < 15Return on Equity-19.7% (3-yr avg)✗AkreROE > 20% (3-year avg)Discount to Intrinsic ValueN/A (negative normalized EPS)✗Marks>= 20% below intrinsic valuePositive Net Income Frequency1/6 years positive✗MarksPositive net income in >= 7 of last 10 yearsOperating Income / Revenue-1475.0%✗Ackman>= 15%Net Income / Shareholders Equity-18.4%✗Ackman>= 15%5-Year EPS CAGR✗Templeton> 0% (5-year EPS CAGR)Operating Margin Trend-520.5% (2023) -> -463.7% (2025)✓TempletonNon-negative operating-margin trend over 3 yearsRevenue growth vs. gross and operating margin trendrevenue up, operating margin -520.5% -> -463.7%✓SleepRevenue rising; gross margin flat or falling; operating margin holdingNet income / market capitalization-21.88%; #4615/6340 (top 72.8%)✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-sectionGross profit / total assets✗AsnessTop 30% of eligible cross-sectionNet income / positive book equity-18.43%; #3649/5226 (top 69.8%)✗AsnessTop 30% of eligible cross-sectionNegative 5-year standard deviation of ROA-0.0985; #3461/5884 (top 58.8%)✗AsnessTop 30% of eligible cross-section3-5 Year Diluted EPS CAGR✗Neff7%-20% annualizedPositive Diluted-EPS Years1/6 years positive✗Schloss>= 70% positive over 5-10 observed years (app rule) - Growth13% pass✓ 4✗ 9▾
7 of 8 flag SLDP's growth — Graham, Lynch, Dreman +4 more
EPS Growth (3-yr avg, 10-yr window)✗Graham>= 33% growthBasic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)3-5 Year EPS CAGR✗Lynch15-30% (Fast Grower); > 0% to passInventory Growth vs Revenue GrowthN/A (no inventory)✓LynchInventory growth < Revenue growthEPS Growth Direction✗DremanPositive over recent yearsEPS CAGR✗Dreman> 5% annualizedPositive Net Income Frequency1/6 years positive✗MarksPositive net income in >= 7 of last 10 years3yr Median Revenue Growth15.7%✓Ackman>= 5%Positive EPS Growth Frequency✗AckmanPositive EPS growth in >= 3 of last 5 years5-Year EPS CAGR✗Templeton> 0% (5-year EPS CAGR)Revenue growth vs. gross and operating margin trendrevenue up, operating margin -520.5% -> -463.7%✓SleepRevenue rising; gross margin flat or falling; operating margin holding5-year Revenue CAGR59.6%✓SleepCAGR > 7%3-5 Year Diluted EPS CAGR✗Neff7%-20% annualized - Verdicts13% pass✓ 2✗ 13▾
Split decision: 12 FAIL · 2 PASS · 2 NEUTRAL
Overall verdict✗GrahamFAIL (2/9)✗BuffettFAIL (1/9)✗LynchFAIL (2/7)✗GreenblattRank #2425✓PiotroskiPASS (F-Score 5)✗DremanFAIL (3/11)✗MungerFAIL (1/4)✗PabraiFAIL (1/3)✗AkreFAIL (1/6)✗MarksFAIL (1/5)✗AckmanFAIL (3/9)✓TempletonPASS (4/8)✗SleepFAIL (2/6)•AsnessNEUTRAL (Not ranked)✗NeffFAIL (1/6)✗SchlossFAIL (3/7)•OshaughnessyNEUTRAL (Not ranked) - Efficiency38% pass✓ 4✗ 7▾
5 of 8 flag SLDP's efficiency — Buffett, Greenblatt, Munger +2 more
Current Ratio13.19✓Graham>= 2.0ROIC (3-5 yr avg)-22.5%✗Buffett> 10%ROIC - WACC-32.5%✗BuffettPositive (WACC = 10%)EBIT / (NWC + Net Fixed Assets)-32.0%✗Greenblatt> 25%Current Ratio Change YoY6.27 -> 15.92✓PiotroskiIncreased YoYRevenue / Total Assets Change YoY0.04x -> 0.05x✓PiotroskiImproved YoYCurrent Assets / Current Liabilities13.19✓Dreman> 1.5Return on Invested Capital-18.6%✗Munger> 15%ROIC (high and growing)FY2023: ROIC=-14.2%; FY2024: ROIC=-20.3%; FY2025: ROIC=-19.1%✗AkreLatest 3 consecutive FYs: ROIC > 15% in eachReinvestment Rate x ROICN/A (non-positive net income)✗AkreReinvestment Rate * ROIC > 10%ROIC (5-year)0/5 years above 12% (latest -19.1%)✗SleepROIC > 12% in a majority of years
Business & financials
Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.
Company Profile
Financial Snapshot
Shareholder Return
Fiscal 2025
Issued 10.5% of shares last year, 11.1% issued over two.
- Buybacks
- $3.6M
- Dividends
- —
Company Financials
Latest TTM and quarters alongside annual years
TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.
The latest annual period end is unavailable. Showing the latest fiscal cycle’s quarters; quarter and annual columns may overlap. Quarterly shows the full quarter history.
| Metric | TTM · 2026-09-30 2025-10-01 – 2026-09-30 Sources · derived quarter valuesDerived from cumulative filings: revenue, net income, operating income, ebit, pre tax income, interest expense, operating cash flow, depreciation amortization, capex, buybacks. | Q3 FY 2026 2026-07-01 – 2026-09-30 Sources · derived quarter valuesDerived from cumulative filings: operating cash flow, depreciation amortization, capex. | Q2 FY 2026 2026-04-01 – 2026-06-30 Sources · derived quarter valuesDerived from cumulative filings: operating cash flow, depreciation amortization, capex. | Q1 FY 2026 2026-01-01 – 2026-03-31 Sources | FY 2025Sources
| FY 2024Sources
| FY 2023Sources
| FY 2022Sources
| FY 2021Sources
|
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $403.4Mcurrent | -- | -- | -- | $901.3Mest. | $253.0Mest. | $293.4Mest. | $592.2Mest. | $1.1Best. |
| Revenue | $7.7M↓66% | $1.2M↓73% | -$268.0K↓104% | $3.1M↓49% | $21.7M↑8% | $20.1M↑16% | $17.4M↑48% | $11.8M↑335% | $2.7M |
| Operating Income | -$113.0M↓14% | -$29.8M↓22% | -$30.3M↓17% | -$26.3M↓10% | -$100.8M↑4% | -$105.3M↓16% | -$90.6M↓53% | -$59.1M↓123% | -$26.5M |
| Net Income | -$88.3M↑9% | -$24.4M↑6% | -$23.8M↑6% | -$13.0M↑14% | -$93.4M↑3% | -$96.5M↓47% | -$65.5M↓586% | -$9.6M↓153% | $18.1M |
| EPS (Diluted) | -- | $-0.11↑21% | $-0.11↑21% | $-0.06↑25% | $-0.51↑6% | $-0.54↓46% | $-0.37↓640% | $-0.05↓145% | $0.11 |
| Gross Margin | — | — | — | — | — | — | — | — | — |
| Operating Margin | -1475.0%↓235% | -2437.9%↓355% | 11301.9%↑3394% | -857.3%↓115% | -463.7%↑11% | -523.0% | -520.5%↓4% | -501.5%↑49% | -978.8% |
| ROE | -18.4%↑28% | — | — | — | -22.5%↑4% | -23.5%↓81% | -13.0%↓657% | -1.7%↓153% | 3.2% |
| Total Debt | $129.0K↓59% | $129.0K↓59% | $171.0K↓55% | $215.0K↓53% | $266.0K↓52% | $551.0K↓41% | $931.0K↑53% | $609.0K↑368% | $130.0K |
| Shareholders' Equity | $478.8M↑26% | $478.8M↑26% | $501.7M↑35% | $525.1M↑32% | $415.7M↑1% | $410.3M↓18% | $503.3M↓9% | $555.4M↓1% | $558.7M |
| Current Ratio | 13.19↓16% | 13.19↓16% | 14.61↓24% | 16.11↓33% | 15.92↑154% | 6.27↓46% | 11.53↓27% | 15.81↓78% | 71.05 |
| Debt / Equity | 0.00↓68% | 0.00↓68% | 0.00↓67% | 0.00↓65% | 0.00↓52% | 0.00↓27% | 0.00↑69% | 0.00↑371% | 0.00 |
| Operating Cash Flow | -$62.4M↑9% | -$16.8M↓18% | -$8.4M↑42% | -$18.8M↑29% | -$73.4M↓15% | -$63.9M↓10% | -$58.3M↓72% | -$33.8M↓33% | -$25.4M |
| Free Cash Flow | -$79.6M | -$21.5M↓45% | -$14.7M↑14% | -$20.4M↑29% | -$83.6M↓5% | -$79.8M↑14% | -$92.8M↓1% | -$92.1M↓142% | -$38.1M |
Score history
Historical Score Timeline
Industry peers
Industry Peers
Similar companies in Electrical Equipment
SLDP vs Peers — Financial Grading
| Company | Market Cap | Price | Revenue | Net Income | ROE | D/E | Op. Margin | Curr. Ratio | Graham | Buffett | Lynch | Greenblatt | Piotroski | Dreman |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GENERAL ELECTRIC COGE | $342.9B | $331.81 | $45.9B | $8.7B | 46.6% | 1.10 | 18.6% | 1.04 | 2/9 | 1/9 | 3/7 | 0/3 | F-Score 5 | 3/11 |
| ABB LTDABBNY | $151.6B | $83.75 | $32.2B | $3.8B | 28.5% | 0.58 | 15.1% | 1.18 | 1/9 | 4/9 | 4/7 | 1/3 | F-Score 8 | 5/11 |
| EMERSON ELECTRIC COEMR | $91.3B | $166.38 | $18.0B | $2.3B | 11.3% | 0.65 | — | 0.88 | 4/9 | 3/9 | 2/7 | 0/3 | F-Score 7 | 5/11 |
| Woodward, Inc.WWD | $19.5B | $329.86 | $3.6B | $442.1M | 17.2% | 0.23 | — | 2.08 | 3/9 | 2/9 | 5/7 | 1/3 | F-Score 8 | 7/11 |
| ACUITY INC. (DE)AYI | $9.9B | $330.53 | $4.3B | $396.6M | 14.6% | 0.33 | 13.0% | 1.95 | 3/9 | 6/9 | 6/7 | 1/3 | F-Score 5 | 5/11 |
| LITTELFUSE INC /DELFUS | $9.8B | $387.64 | $2.4B | $71.7M | -3.0% | 0.33 | 1.6% | 2.69 | 5/9 | 2/9 | 4/7 | 0/3 | F-Score 5 | 4/11 |
| Forgent Power Solutions, Inc.FPS | $6.7B | $22.12 | — | — | — | — | — | — | — | — | — | — | — | — |
| POWELL INDUSTRIES INCPOWL | $5.2B | $142.72 | $1.1B | $180.7M | 28.2% | — | 19.7% | 2.09 | 2/9 | 3/9 | 4/7 | 1/3 | F-Score 6 | 5/11 |