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Company Analysis

FTC Solar, Inc. FTCI

A comprehensive view of key metrics, scores, and financial health for FTC Solar, Inc.

Overview of FTC Solar, Inc.

FTCI NCM
Technology Solar Framework: General Corporate Micro Cap
FTC Solar, Inc. (FTCI), is a Micro Cap company, in the Solar industry, last closed at $1.50, about 47.3% undervalued vs fair value, -81.5% 1Y return, ranked 621/780 in sector.
Metrics Rev Growth 110.5% ROE 665.3% Gross Margin -0.9%
USD 1.50
8.70%
(Delayed)
• Vol 90d: 91.8%
52-Week Range
Market Cap
$24.69M
Enterprise Value
$37.26M
Overall Score
View breakdown
Overall
Growth
Weak
Profitability
Weak
Health
Weak
Efficiency
Fair
Valuation
Weak
Growth
Weak
Profitability
Weak
Health
Weak
Efficiency
Fair
Valuation
Weak
Completeness: 88%
Confidence: 90%
Updated: Oct 31
Top Beats

Quick Facts

Website https://ftcsolar.com
HQ Austin, TX
Employees 202
Fiscal year Dec 31

Next Events

Earnings Nov 4 Call: Nov 4

Fair Value Snapshot

Bear Base Bull
$1
$2
$3
Current: $1.50 +47% vs base

Engine Room Money Flow™

Micro Cap

Corporate Free Cash Flow - Where revenue goes and how value is created

Flow Steps
Revenue
$99.7M
110.5%%
Gross Profit
-$880.0K
93%%
Operating Income
-$35.4M
32.9%%
Net Income
-$79.6M
-63.7%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Corporate Free Cash Flow

Quality & Reliability Indicators

Cash Conversion Ratio FY2025
43.4%

Operating Cash Flow / Net Income

FCF / Net Income - not meaningful while net income is negative (a near-100% ratio here only reflects cash burn tracking accounting losses, not earnings quality)

Locked Metric
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Where It Leaks

Cash Flow Health critical
Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.
2
Active Leaks
1/2
Improving
0
High Impact
2
Critical
Locked Leak
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Moat Analysis Corporate Default

Competitive Advantage Assessment

Evaluating FTC Solar, Inc.'s durable competitive advantages across 6 defense dimensions

Overall Moat Strength
41
/100
Developing
Scores based on quantitative metrics and qualitative factors
Full moat analysis

Key strengths

  • ROIC Sustainably Above Peers ROIC at 95.0th percentile exceeds peers and WACC, demonstrating superior capital allocation.
  • Operating Leverage in Effect Operating leverage is evident (score 0.82), with margins expanding over time.

Key risks

  • Commodity Pressure / Weak Differentiation Gross margin at 18.2th percentile with high volatility suggests weak pricing power or commoditized products.
  • Elevated Debt Risk Debt serviceability is weak (score 0.32), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Weak
25
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

vs Industry Peers 77% Coverage
Trade-Off Triangle Visualization A ternary plot showing FTCI's balance between Growth (43.4%), Profitability (19.3%), and Safety (37.3%). Growth 43% Safety 37% Profitability 19%

Click axes to expand details. Marker shows current allocation.

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Growth

52th percentile vs peers
52
Key Signals
Rev Growth YoY 1.11 96p Revenue CAGR 3Y -6.8% 20p EPS Growth YoY -48.1% 25p
Strengths
  • Rev Growth YoY in top 20% of peers (1.11, 96th percentile)
  • ROIC in top 20% of peers (1.29, 98th percentile)
Risks

No significant risks identified for this axis.

Profitability

23th percentile vs peers
23
Key Signals
Strengths
Risks
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Safety

44th percentile vs peers
45
Key Signals
Strengths
Safety drilldowns are available to premium members.

Two Futures

Scenario-based fair value ranges for FTC Solar, Inc..

Loading valuation model...
Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
X.X%
X%XX%
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Bear
-
- - -
- upside
-
Base
$2.21
- - -
+47.3% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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