Ocean Thermal Financials
This page shows Ocean Thermal (CPWR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Ocean Thermal passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Ocean Thermal generates $0.47 in operating cash flow (-$563K OCF vs -$1.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Ocean Thermal earns $-0.6 in operating income for every $1 of interest expense (-$1.6M vs $2.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Ocean Thermal reported -$1.2M in net income in fiscal year 2024. This represents an increase of 87.2% from the prior year.
Ocean Thermal earned $-0.01 per diluted share (EPS) in fiscal year 2024. This represents an increase of 80.0% from the prior year.
Ocean Thermal held $16K in cash against $0 in long-term debt as of fiscal year 2024.
Ocean Thermal had 190M shares outstanding in fiscal year 2024. This represents an increase of 3.1% from the prior year.
CPWR Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $414K-51.1% | $846K+389.1% | $173K | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | $129K | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $106K-51.1% | $217K+389.1% | $44K | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $9K-40.7% | $15K+123.2% | $7K | N/A | $32K-19.3% | $40K-12.0% | $46K | N/A |
| Operating Income | -$284K-121.8% | -$128K+48.1% | -$247K | N/A | -$411K-13.2% | -$363K+0.3% | -$364K | N/A |
| Interest Expense | $713K+4.3% | $684K+4.3% | $656K | N/A | $582K+4.0% | $559K+4.1% | $537K | N/A |
| Income Tax | $0 | $0 | $0 | N/A | $0 | $0 | $0 | N/A |
| Net Income | -$72.0M+24.0% | -$94.7M-6650.1% | -$1.4M | N/A | -$335.8M-12762.3% | -$2.6M-298.3% | -$655K | N/A |
| EPS (Diluted) | $-0.38+20.8% | $-0.48-4700.0% | $-0.01 | N/A | $-1.82-18100.0% | $-0.01 | $0.00 | N/A |
CPWR Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $705K+12.9% | $625K+13.9% | $549K+356.7% | $120K+71.2% | $70K+16.8% | $60K+850.5% | $6K-1.3% | $6K |
| Current Assets | $705K+12.9% | $625K+13.9% | $549K+356.7% | $120K+71.2% | $70K+16.8% | $60K+850.5% | $6K-1.3% | $6K |
| Cash & Equivalents | $56K-59.8% | $140K+3029.7% | $4K-96.1% | $115K+76.6% | $65K+18.3% | $55K+4064.6% | $1K-5.8% | $1K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $396K | N/A | $539K | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $213.0M+50.9% | $141.1M+204.1% | $46.4M+5.3% | $44.1M-88.2% | $373.9M+873.0% | $38.4M+6.5% | $36.1M-0.3% | $36.2M |
| Current Liabilities | $213.0M+51.0% | $141.1M+204.2% | $46.4M+5.3% | $44.1M-88.2% | $373.6M+881.3% | $38.1M+6.5% | $35.7M-1.3% | $36.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$212.3M-51.1% | -$140.5M-206.4% | -$45.9M-4.4% | -$43.9M+88.2% | -$373.9M-874.3% | -$38.4M-6.3% | -$36.1M+0.3% | -$36.2M |
| Retained Earnings | -$275.3M-35.4% | -$203.4M-87.1% | -$108.7M-2.4% | -$106.1M+75.6% | -$435.5M-336.7% | -$99.7M-2.7% | -$97.1M-0.7% | -$96.5M |
CPWR Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$256K-366.4% | $96K+159.3% | -$162K-32.2% | -$122K+50.8% | -$249K-22.5% | -$203K-115.0% | -$95K-270.0% | -$26K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $172K+339.0% | $39K-73.9% | $150K-12.9% | $172K-33.5% | $259K+0.8% | $257K+172.0% | $95K+380.8% | $20K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CPWR Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.6%0.0pp | 25.6%0.0pp | 25.6% | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -68.7%-53.6pp | -15.2%+127.5pp | -142.6% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -17407.8%-6220.7pp | -11187.1%-10376.5pp | -810.7% | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -10207.4%+4943.3pp | -15150.6%-14895.0pp | -255.7% | N/A | -478389.5%-474045.7pp | -4343.8%+6020.8pp | -10364.6% | N/A |
| Current Ratio | 0.000.0 | 0.000.0 | 0.010.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.00 |
| Debt-to-Equity | -1.000.0 | -1.000.0 | -1.010.0 | -1.000.0 | -1.000.0 | -1.000.0 | -1.000.0 | -1.00 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$44.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.00), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Frequently Asked Questions
Is Ocean Thermal profitable?
No, Ocean Thermal (CPWR) reported a net income of -$1.2M in fiscal year 2024.
What is Ocean Thermal's earnings per share (EPS)?
Ocean Thermal (CPWR) reported diluted earnings per share of $-0.01 for fiscal year 2024. This represents a 80.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Ocean Thermal's operating cash flow?
Ocean Thermal (CPWR) generated -$563K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Ocean Thermal's total assets?
Ocean Thermal (CPWR) had $21K in total assets as of fiscal year 2024, including both current and long-term assets.
How many shares does Ocean Thermal have outstanding?
Ocean Thermal (CPWR) had 190M shares outstanding as of fiscal year 2024.
What is Ocean Thermal's current ratio?
Ocean Thermal (CPWR) had a current ratio of 0.00 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Ocean Thermal's debt-to-equity ratio?
Ocean Thermal (CPWR) had a debt-to-equity ratio of -1.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ocean Thermal's return on assets (ROA)?
Ocean Thermal (CPWR) had a return on assets of -5605.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Ocean Thermal's cash runway?
Based on fiscal year 2024 data, Ocean Thermal (CPWR) had $16K in cash against an annual operating cash burn of $563K. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Ocean Thermal's debt-to-equity ratio negative or unusual?
Ocean Thermal (CPWR) has negative shareholder equity of -$44.6M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Ocean Thermal's Piotroski F-Score?
Ocean Thermal (CPWR) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ocean Thermal's earnings high quality?
Ocean Thermal (CPWR) has an earnings quality ratio of 0.47x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ocean Thermal cover its interest payments?
Ocean Thermal (CPWR) has an interest coverage ratio of -0.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.