What is Maxeon Solar Technologies, Ltd.'s earnings per share (EPS)?

Maxeon Solar Technologies, Ltd. (MAXN) reported diluted earnings per share of -$96.00 for fiscal year 2024. 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.

Maxeon Solar Technologies, Ltd. (MAXN) Financials

MAXN

FY2024 annual

Revenue $509.0M -54.7% YoY

Net Income -$614.3M -122.7% YoY

EPS (Diluted) -$96.00 YoY not available

Free Cash Flow -$322.3M -0.2% YoY

Source SEC Filings (10-K/10-Q) Latest period FY2024, ended Dec 31, 2024 Reported Apr 30, 2025 Currency USD FYE December

Maxeon Solar Technologies, Ltd. (MAXN) reported $509.0M in revenue for fiscal year 2024, down 54.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).

Rhea AI MAXN FY2024 2026-10-03

2024’s sales collapse exposed a business where costs outran volume, cash generation stayed negative, and liabilities overtook the asset base.

Revenue fell 54.7% in FY2024, while gross margin reached -49.0% after being positive in FY2023; this margin break shows that lower volume was amplified by cost or mix pressure, not merely reflected in sales. Operating cash flow was -$270M, but capital spending drove free cash flow to -$322M; cash use therefore came from both the core operation and reinvestment.

Assets shrank to $376M in FY2024 from about $1.0B in FY2023. With equity at -$294M, liabilities exceeded the asset base, leaving the balance sheet financed by obligations rather than residual shareholder capital.

The current ratio fell to 0.8x, so short-term liabilities exceeded short-term assets; paired with negative operating cash flow, this indicates dependence on funding beyond internally generated cash. The net loss was $614M, more than twice the absolute operating cash flow, showing that accounting losses and cash consumption diverged materially in FY2024.

Financial Health Signals

Financial Health Score 7/100

Scored against operating companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Maxeon Solar Technologies, Ltd.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Maxeon Solar Technologies, Ltd.'s reported operating margin for fiscal year 2024 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 14/100.

Growth

Maxeon Solar Technologies, Ltd.'s revenue declined 54.7% year-over-year, from $1.1B to $509.0M. This contraction results in a growth score of 2/100.

Leverage

Liquidity

Maxeon Solar Technologies, Ltd.'s current ratio of 0.79 is below the typical benchmark, resulting in a score of 11/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Maxeon Solar Technologies, Ltd.'s operations used $270.2M of cash, and capex of $52.1M added to the outflow, for a free cash flow shortfall of $322.3M. This results in a cash flow score of 6/100.

Returns

Altman Z-Score Distress

-9.17

Maxeon Solar Technologies, Ltd. scores -9.17, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($12.9M) relative to total liabilities ($664.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/8

Maxeon Solar Technologies, Ltd. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Maxeon Solar Technologies, Ltd. reported a net loss of $614.3M while operations used $270.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Maxeon Solar Technologies, Ltd. reported an operating loss of $576.6M against $45.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

Export CSV

Earnings & Revenue

None of these metrics is reported for Q4 2024.

Cash & Balance Sheet

Cash & Debt

$28.9M

YoY-84.8%

QoQ-84.8%

Maxeon Solar Technologies, Ltd. held $28.9M in cash as of Q4 2024; long-term debt is not reported for that period.

Shares Outstanding

17M

Maxeon Solar Technologies, Ltd. had 17M shares outstanding in Q4 2024.

Free Cash Flow

Not reported for Q4 2024.

Dividends Per Share

Not reported for Q4 2024.

Margins & Returns

None of these metrics is reported for Q4 2024.

Capital Allocation

None of these metrics is reported for Q4 2024.

MAXN Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MAXN quarterly income statement

Metric	FY24	FY23	FY23	FY22	FY21	FY19	FY18
Revenue	$509.0M-54.7%	$1.1B	$1.1B+35.3%	$783.3M-7.3%	$844.8M	$1.2B+31.3%	$912.3M
Cost of Revenue	$758.5M-27.4%	$1.0B	$1.1B+36.4%	$812.3M-5.0%	$854.6M	$1.2B+19.2%	$1.0B
Gross Profit	-$249.4M-419.3%	$78.1M	-$47.9M-65.3%	-$29.0M-196.6%	-$9.8M	-$2.3M+99.5%	-$449.9M
R&D Expenses	$37.5M-17.8%	$45.7M	$49.7M+6.8%	$46.5M+36.1%	$34.2M	$37.0M-26.1%	$50.0M
SG&A Expenses	$173.5M+37.5%	$126.2M	$100.5M+13.2%	$88.8M+3.0%	$86.2M	$96.9M+18.1%	$82.0M
Operating Income	-$576.6M-163.1%	-$219.2M	-$200.3M-16.1%	-$172.4M-32.5%	-$130.2M	-$135.6M+77.0%	-$589.8M
EBITDA	-$533.2M-226.5%	-$163.3M	-$143.6M-10.2%	-$130.2M-57.2%	-$82.8M	-$82.2M+83.8%	-$506.9M
Interest Expense	$45.4M+6.9%	$42.4M	$30.3M+7.8%	$28.1M-11.7%	$31.9M	$25.8M-0.2%	$25.9M
Income Tax	$18.0M+2967.7%	-$626K	$32.2M+15757.6%	$203K-98.3%	$12.1M	$10.1M+1064.0%	-$1.1M
Net Income	-$614.3M-122.7%	-$275.8M	-$267.4M-5.1%	-$254.5M-78.4%	-$142.6M	-$183.1M+69.7%	-$603.8M
EPS (Basic)	-$96.00+83.9%	-$594.46	-$653.85-9529.6%	-$6.79-16.7%	-$5.82	-$8.61	N/A
EPS (Diluted)	-$96.00	-$594.46	-$653.85	-$6.79	-$5.82	-$8.61	N/A
Diluted Shares (Avg)	6M	464,000	409,000	37M	25M	21M	N/A

Metric	Q4'24	Q4'23	Q1'23	Q1'22	Q1'21	Q4'19

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

MAXN Balance Sheet

MAXN quarterly balance sheet

Metric	FY24	FY23	FY23	FY22	FY21	FY19	FY18
Total Assets	$376.3M-62.4%	$1.0B	$1.0B-20.5%	$1.3B+19.3%	$1.1B	$990.2M	N/A
Current Assets	$266.0M-57.0%	$619.0M	$619.0M-21.7%	$791.0M+48.4%	$533.1M	$618.1M	N/A
Cash & Equivalents	$28.9M-84.8%	$190.2M	$190.2M-16.4%	$227.4M+36.6%	$166.5M	$121.0M+18.9%	$101.7M
Inventory	$40.2M-87.0%	$308.9M	$308.9M+1.9%	$303.2M+42.5%	$212.8M	$194.9M	N/A
Accounts Receivable	$4.3M-93.1%	$62.7M	$62.7M+15.5%	$54.3M+36.8%	$39.7M	N/A	N/A
Goodwill	$0-100.0%	$7.9M	$7.9M	$0	N/A	N/A	N/A
Total Liabilities	$664.6M-33.4%	$997.4M	$997.4M-17.7%	$1.2B+72.8%	$701.7M	$622.7M	N/A
Current Liabilities	$338.5M-21.6%	$431.9M	$431.9M-25.0%	$576.2M+36.9%	$421.0M	$520.7M	N/A
Non-Current Liabilities	$326.1M-42.3%	$565.4M	$565.4M-11.1%	$636.1M+126.7%	$280.6M	$102.0M	N/A
Total Equity	-$293.8M-26396.1%	-$1.1M	-$1.1M-102.6%	$42.4M-87.9%	$349.5M	$362.2M-16.8%	$435.3M
Retained Earnings	-$1.4B-77.2%	-$796.1M	-$796.1M-53.0%	-$520.3M-97.8%	-$263.0M	$0	N/A

Metric	Q4'24	Q4'23	Q1'23	Q1'22	Q1'21	Q4'19
Total Assets	$376.3M-62.4%	$1.0B	$1.3B+19.3%	$1.1B+7.8%	$980.3M	$990.2M
Current Assets	$266.0M-57.0%	$619.0M	$791.0M+48.4%	$533.1M-2.6%	$547.2M	$618.1M
Cash & Equivalents	$28.9M-84.8%	$190.2M	$227.4M+36.6%	$166.5M-19.4%	$206.7M	$121.0M
Inventory	$40.2M-87.0%	$308.9M	$303.2M+42.5%	$212.8M+25.8%	$169.2M	$194.9M
Accounts Receivable	$4.3M-93.1%	$62.7M	$54.3M+36.8%	$39.7M-48.2%	$76.7M	N/A
Goodwill	$0-100.0%	$7.9M	$0	N/A	N/A	N/A
Total Liabilities	$664.6M-33.4%	$997.4M	$1.2B+72.8%	$701.7M+29.7%	$541.1M	$622.7M
Current Liabilities	$338.5M-21.6%	$431.9M	$576.2M+36.9%	$421.0M+36.6%	$308.1M	$520.7M
Non-Current Liabilities	$326.1M-42.3%	$565.4M	$636.1M+126.7%	$280.6M+20.5%	$232.9M	$102.0M
Total Equity	-$293.8M-26396.1%	-$1.1M	$42.4M-87.9%	$349.5M-19.2%	$432.6M	$362.2M
Retained Earnings	-$1.4B-77.2%	-$796.1M	-$520.3M-97.8%	-$263.0M-3015.3%	-$8.4M	$0

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Long-Term Debt.

MAXN Cash Flow Statement

MAXN quarterly cash flow statement

Metric	FY24	FY23	FY23	FY22	FY21	FY19	FY18
Operating Cash Flow	-$270.2M-6.2%	-$254.3M	$3.4M+170.6%	-$4.9M+97.4%	-$189.2M	-$26.3M+83.2%	-$156.8M
Depreciation & Amortization	$43.5M-22.2%	$55.9M	$56.7M+34.4%	$42.2M-10.8%	$47.3M	$53.4M-35.5%	$82.9M
Stock-Based Compensation	$28.7M+56.6%	$18.3M	$14.6M+101.6%	$7.2M-0.3%	$7.3M	$7.1M-16.8%	$8.6M
Capital Expenditures	$52.1M-22.7%	$67.5M	$63.3M-58.9%	$154.2M+456.9%	$27.7M	$41.9M+5.8%	$39.6M
Free Cash Flow	-$322.3M-0.2%	-$321.7M	-$59.9M+62.3%	-$159.1M+26.7%	-$216.9M	-$68.2M+65.3%	-$196.4M
Investing Cash Flow	-$25.2M-281.3%	$13.9M	-$139.3M+9.8%	-$154.4M-239.5%	-$45.5M	-$41.9M+21.0%	-$53.0M
Financing Cash Flow	$141.2M-15.9%	$168.0M	$211.5M+49.1%	$141.8M-55.7%	$320.3M	$89.9M-45.8%	$165.8M

Metric	Q4'24	Q4'23	Q1'23	Q1'22	Q1'21	Q4'19

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

MAXN Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MAXN quarterly financial ratios

Metric	FY24	FY23	FY23	FY22	FY21	FY19	FY18
Gross Margin	-49.0%-56.0pp	7.0%	-4.5%-0.8pp	-3.7%-2.5pp	-1.2%	-0.2%+49.1pp	-49.3%
Operating Margin	-113.3%	-19.5%	-18.9%+3.1pp	-22.0%-6.6pp	-15.4%	-11.3%+53.3pp	-64.6%
Net Margin	-120.7%	-24.6%	-25.2%+7.3pp	-32.5%-15.6pp	-16.9%	-15.3%+50.9pp	-66.2%
Return on Equity	N/A	N/A	N/A	-599.8%-558.9pp	-40.8%	-50.5%+88.2pp	-138.7%
Return on Assets	-163.3%-135.7pp	-27.5%	-26.7%-6.5pp	-20.2%-6.7pp	-13.5%	-18.5%	N/A
Current Ratio	0.79-0.6x	1.43	1.43+0.1x	1.37+0.1x	1.27	1.19	N/A
Debt-to-Equity	N/A	N/A	N/A	28.57+26.6x	2.01	1.72	N/A
Asset Turnover	1.35+0.2x	1.12	1.06+0.4x	0.62-0.2x	0.80	1.21	N/A
FCF Margin	-63.3%-34.7pp	-28.6%	-5.7%+14.7pp	-20.3%+5.4pp	-25.7%	-5.7%+15.8pp	-21.5%

Metric	Q4'24	Q4'23	Q1'23	Q1'22	Q1'21	Q4'19
Current Ratio	0.79-0.6x	1.43	1.37+0.1x	1.27-0.5x	1.78	1.19
Debt-to-Equity	N/A	N/A	28.57+26.6x	2.01+0.8x	1.25	1.72

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.

Note: Shareholder equity is negative (-$293.8M), 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 (0.79), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Maxeon Solar Technologies, Ltd. MAXN	FY2024	$509.0M	-$614.3M	N/A	$12.9M	7/100
Solarmax Technology Inc. SMXT	FY2025	$91.0M	-$6.3M	-7.0%	$24.5M	36/100
Emeren Group Ltd American SOL	FY2024	$92.1M	-$12.5M	-13.6%	$99.6M	61/100
VivoPower International PLC VVPR	FY2025	$61K	-$12.8M	N/A	$34.8M	—
FTC Solar, Inc. FTCI	FY2025	$99.7M	-$79.6M	-79.8%	$27.4M	42/100
SunPower Inc. SPWR	FY2025	$300.0M	-$45.4M	-15.1%	$84.1M	32/100

Where Maxeon Solar Technologies, Ltd. Ranks

Frequently Asked Questions

What is Maxeon Solar Technologies, Ltd.'s annual revenue?

Maxeon Solar Technologies, Ltd. (MAXN) reported $509.0M in total revenue for fiscal year 2024. This represents a -54.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Maxeon Solar Technologies, Ltd.'s revenue growing?

Maxeon Solar Technologies, Ltd. (MAXN) revenue declined by 54.7% year-over-year, from $1.1B to $509.0M in fiscal year 2024.

Is Maxeon Solar Technologies, Ltd. profitable?

No, Maxeon Solar Technologies, Ltd. (MAXN) reported a net income of -$614.3M in fiscal year 2024.

What is Maxeon Solar Technologies, Ltd.'s EBITDA?

Maxeon Solar Technologies, Ltd. (MAXN) had EBITDA of -$533.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Maxeon Solar Technologies, Ltd.'s gross margin?

Maxeon Solar Technologies, Ltd. (MAXN) had a gross margin of -49.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Maxeon Solar Technologies, Ltd.'s free cash flow?

Maxeon Solar Technologies, Ltd. (MAXN) recorded an outflow of $322.3M in free cash flow during fiscal year 2024. This represents a -0.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Maxeon Solar Technologies, Ltd.'s operating cash flow?

Maxeon Solar Technologies, Ltd. (MAXN) recorded an outflow of $270.2M in operating cash flow during fiscal year 2024, representing cash used by core business activities.

What are Maxeon Solar Technologies, Ltd.'s total assets?

Maxeon Solar Technologies, Ltd. (MAXN) had $376.3M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Maxeon Solar Technologies, Ltd.'s capital expenditures?

Maxeon Solar Technologies, Ltd. (MAXN) invested $52.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Maxeon Solar Technologies, Ltd. spend on research and development?

Maxeon Solar Technologies, Ltd. (MAXN) invested $37.5M in research and development during fiscal year 2024.

How many shares does Maxeon Solar Technologies, Ltd. have outstanding?

Maxeon Solar Technologies, Ltd. (MAXN) had 17M shares outstanding as of fiscal year 2024.

What is Maxeon Solar Technologies, Ltd.'s current ratio?

Maxeon Solar Technologies, Ltd. (MAXN) had a current ratio of 0.79 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Maxeon Solar Technologies, Ltd.'s return on assets (ROA)?

Maxeon Solar Technologies, Ltd. (MAXN) had a return on assets of -163.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Why is Maxeon Solar Technologies, Ltd.'s debt-to-equity ratio negative or not reported?

Maxeon Solar Technologies, Ltd. (MAXN) has negative shareholder equity of -$293.8M as of fiscal year 2024, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Maxeon Solar Technologies, Ltd.'s Altman Z-Score?

Maxeon Solar Technologies, Ltd. (MAXN) has an Altman Z-Score of -9.17, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Maxeon Solar Technologies, Ltd.'s Piotroski F-Score?

Maxeon Solar Technologies, Ltd. (MAXN) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Maxeon Solar Technologies, Ltd.'s earnings high quality?

Maxeon Solar Technologies, Ltd. (MAXN) reported a net loss of $614.3M while operations used $270.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Maxeon Solar Technologies, Ltd. cover its interest payments?

Maxeon Solar Technologies, Ltd. (MAXN) reported an operating loss of $576.6M against $45.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.

How financially healthy is Maxeon Solar Technologies, Ltd.?

Maxeon Solar Technologies, Ltd. (MAXN) scores 7 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.