What is Orion Energy Systems, Inc.'s earnings per share (EPS)?

Orion Energy Systems, Inc. (OESX) reported diluted earnings per share of -$0.89 for fiscal year 2026. 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.

Orion Energy Systems, Inc. (OESX) Financials

OESX

Trailing 12 months to June 30, 2026

Revenue $92.5M +16.5% YoY

Net Income $3K +100.0% YoY

EPS (Diluted) -$0.07 YoY not available

Free Cash Flow $250K -91.4% YoY

Market Cap $100.3M as of Oct 15, 2026

Price / Sales 1.1x on $92.5M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m outside the range published as a multiple, on $3K net income, trailing 12 months to June 30, 2026

Price / Book 5.4x on $18.7M equity, Q1 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 15, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2027, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE March

Newest figures come from the 10-Q for Q1 FY2027, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OESX SEC filings page.

Orion Energy Systems, Inc. (OESX) reported $92.5M in revenue over the twelve months to Jun 30, 2026, up 16.5% from the prior twelve months. This page shows its 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).

Rhea AI OESX FY2026 2026-10-04

Higher gross margins are bringing Orion close to break-even, but cash conversion and receivables still make the recovery uneven.

Gross margin expanded to 32.6% from 25.4% in FY2025, an improvement that changed the earnings profile rather than merely lifting sales. That shift narrowed the operating loss to $1.6M from $10.6M, showing incremental gross profit is covering most operating overhead even though the company remains below break-even.

Liabilities fell to $35.0M in FY2026 from $40.6M in FY2025, reducing balance-sheet pressure as revenue recovered. The reported liquidity comparison equaled 36.3 months of latest annual operating outflow, while debt-to-equity fell to 0.3x; together, these describe meaningful reported liquidity with less debt reliance.

Operating cash flow moved from positive in FY2025 to -$1.1M in FY2026 as receivables rose while inventory declined, so the recovery did not yet translate consistently into cash. Capital expenditures were only $83K, while free cash flow was -$1.2M; most of that shortfall therefore came from day-to-day operations, not heavy reinvestment.

Financial Health Signals

Financial Health Score 51/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2026. 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 Orion Energy Systems, Inc.'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.

Cash Runway

Orion Energy Systems, Inc. held $3.3M in cash, cash equivalents and investments at the end of fiscal year 2026, and its operations used $1.1M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Orion Energy Systems, Inc. scores 61/100 among other emerging companies.

Dilution

Orion Energy Systems, Inc. had 4M shares outstanding at the end of fiscal year 2026. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Orion Energy Systems, Inc. scores 93/100 among other emerging companies.

R&D Intensity

Orion Energy Systems, Inc. spent $945K on research and development in fiscal year 2026, which was 1.1% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Orion Energy Systems, Inc. scores 9/100 among other emerging companies.

Revenue Progress

Orion Energy Systems, Inc. reported revenue of $86.3M in fiscal year 2026, against $79.7M in fiscal year 2025. Revenue Progress ranks emerging companies on the three-year path of that line, and Orion Energy Systems, Inc. scores 41/100 among other emerging companies.

Burn Trend

Orion Energy Systems, Inc.'s operations used $1.1M of cash in fiscal year 2026, against $599K generated in fiscal year 2025. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Orion Energy Systems, Inc. scores 85/100 among other emerging companies.

Balance Sheet

Orion Energy Systems, Inc.'s cash, cash equivalents and investments came to $3.3M at the end of fiscal year 2026, against $35.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Orion Energy Systems, Inc. scores 17/100 among other emerging companies.

Altman Z-Score Distress

0.34

Orion Energy Systems, Inc. scores 0.34, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($100.3M) relative to total liabilities ($35.0M). 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 Strong

7/9

Orion Energy Systems, Inc. passes 7 of 9 financial strength tests. 2 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Orion Energy Systems, Inc. reported a net loss of $3.2M while operations used $1.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Orion Energy Systems, Inc. reported an operating loss of $1.6M against $783K 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

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Earnings & Revenue

Revenue

$25.7M

YoY+31.5%

QoQ+0.1%

5Y CAGR-6.0%

10Y CAGR+5.1%

Orion Energy Systems, Inc. generated $25.7M in revenue in Q1 2027. This represents an increase of 31.5% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

EBITDA

$2.3M

YoY+543.1%

QoQ+1064.6%

Orion Energy Systems, Inc.'s EBITDA was $2.3M in Q1 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 543.1% from the same quarter a year earlier. Against the prior quarter it is up 1064.6%.

Net Income

$2.0M

YoY+257.5%

QoQ+227.6%

5Y CAGR-4.8%

Orion Energy Systems, Inc. reported $2.0M in net income in Q1 2027. This represents an increase of 257.5% from the same quarter a year earlier. Against the prior quarter it is up 227.6%.

EPS (Diluted)

$0.47

QoQ+214.6%

5Y CAGR+42.5%

Orion Energy Systems, Inc. earned $0.47 per diluted share (EPS) in Q1 2027. Against the prior quarter it is up 214.6%.

Cash & Balance Sheet

Free Cash Flow

$1.3M

YoY+336.1%

QoQ+189.1%

Orion Energy Systems, Inc. generated $1.3M in free cash flow in Q1 2027, representing cash available after capex. This represents an increase of 336.1% from the same quarter a year earlier. Against the prior quarter it is up 189.1%.

Cash & Debt

$5.2M

YoY+44.9%

QoQ+58.2%

5Y CAGR-20.1%

10Y CAGR-9.6%

Orion Energy Systems, Inc. held $5.2M in cash against $6.3M in long-term debt as of Q1 2027.

Shares Outstanding

QoQ+0.4%

5Y CAGR-33.4%

10Y CAGR-17.6%

Orion Energy Systems, Inc. had 4M shares outstanding in Q1 2027. Against the prior quarter it is up 0.4%.

Dividends Per Share

Not reported for Q1 2027.

Margins & Returns

Gross Margin

34.6%

YoY+4.5pp

QoQ-2.3pp

5Y change+5.5pp

10Y change+8.9pp

Orion Energy Systems, Inc.'s gross margin was 34.6% in Q1 2027, indicating the percentage of revenue retained after direct costs. This is up 4.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.3 percentage points.

Operating Margin

8.2%

YoY+13.4pp

QoQ+11.2pp

Orion Energy Systems, Inc.'s operating margin was 8.2% in Q1 2027, reflecting core business profitability. This is up 13.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.2 percentage points.

Net Margin

7.6%

YoY+14.0pp

QoQ+13.6pp

5Y change+0.5pp

10Y change+26.4pp

Orion Energy Systems, Inc.'s net profit margin was 7.6% in Q1 2027, showing the share of revenue converted to profit. This is up 14.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 13.6 percentage points.

Return on Equity

10.4%

YoY+22.0pp

QoQ+19.7pp

5Y change+6.3pp

10Y change+17.2pp

Orion Energy Systems, Inc.'s ROE was 10.4% in Q1 2027, measuring profit generated per dollar of shareholder equity. This is up 22.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 19.7 percentage points.

Capital Allocation

R&D Spending

$268K

YoY+28.8%

QoQ-0.4%

Orion Energy Systems, Inc. invested $268K in research and development in Q1 2027. This represents an increase of 28.8% from the same quarter a year earlier. Against the prior quarter it is down 0.4%.

Capital Expenditures

$6K

YoY-89.1%

QoQ-76.0%

5Y CAGR-47.6%

10Y CAGR-19.6%

Orion Energy Systems, Inc. invested $6K in capex in Q1 2027, funding long-term assets and infrastructure. This represents a decrease of 89.1% from the same quarter a year earlier. Against the prior quarter it is down 76.0%.

Share Buybacks

Not reported for Q1 2027.

OESX 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.

OESX quarterly income statement

Metric	TTM	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$92.5M	$86.3M+8.3%	$79.7M-12.0%	$90.6M+17.1%	$77.4M-37.8%	$124.4M+6.5%	$116.8M-22.5%	$150.8M+129.4%	$65.8M+9.0%	$60.3M-14.1%	$70.2M+3.8%	$67.6M-6.3%	$72.2M-18.5%	$88.6M+2.9%	$86.1M-14.4%	$100.6M
Cost of Revenue	$61.4M	$58.2M-2.1%	$59.5M-14.6%	$69.7M+16.4%	$59.9M-33.8%	$90.5M+4.3%	$86.7M-23.7%	$113.7M+122.1%	$51.2M+12.2%	$45.6M-13.7%	$52.9M+2.4%	$51.6M-29.6%	$73.3M+11.7%	$65.6M+10.6%	$59.4M-15.8%	$70.5M
Gross Profit	$31.1M	$28.1M+38.8%	$20.2M-3.2%	$20.9M+19.4%	$17.5M-48.4%	$33.9M+12.6%	$30.1M-18.9%	$37.1M+155.1%	$14.6M-0.8%	$14.7M-15.4%	$17.3M+8.4%	$16.0M+1506.9%	-$1.1M-104.9%	$23.0M-14.0%	$26.7M-11.0%	$30.0M
R&D Expenses	$1.0M	$945K-23.1%	$1.2M-17.8%	$1.5M-19.3%	$1.9M+8.9%	$1.7M+0.9%	$1.7M-1.8%	$1.7M+24.9%	$1.4M-27.9%	$1.9M-4.9%	$2.0M+20.1%	$1.7M-34.7%	$2.6M+26.1%	$2.0M-10.3%	$2.3M-10.3%	$2.5M
SG&A Expenses	$18.1M	$18.7M+3.8%	$18.0M+7.6%	$16.7M-14.1%	$19.5M+66.8%	$11.7M+3.7%	$11.3M+0.7%	$11.2M+9.3%	$10.2M-22.3%	$13.2M-10.9%	$14.8M-12.5%	$16.9M+13.3%	$14.9M-0.3%	$15.0M+7.2%	$13.9M+22.3%	$11.4M
Operating Income	$1.5M	-$1.6M+84.5%	-$10.6M+2.1%	-$10.8M+32.3%	-$16.0M-290.5%	$8.4M+22.7%	$6.8M-47.9%	$13.1M+312.9%	-$6.2M+52.6%	-$13.0M-3.6%	-$12.5M+37.1%	-$19.9M+37.6%	-$31.9M-282.8%	-$8.3M-26.3%	-$6.6M-1365.1%	$522K
EBITDA	N/A	$142K+101.8%	-$8.0M+3.1%	-$8.2M+40.7%	-$13.9M-238.8%	$10.0M+20.3%	$8.3M-43.3%	$14.7M+435.4%	-$4.4M+60.1%	-$11.0M-7.6%	-$10.2M+35.3%	-$15.8M+43.2%	-$27.8M-629.4%	-$3.8M-87.7%	-$2.0M-142.6%	$4.8M
Interest Expense	$712K	$783K-23.7%	$1.0M+36.4%	$752K+121.8%	$339K+323.8%	$80K-37.0%	$127K-54.5%	$279K-43.4%	$493K+48.0%	$333K+104.3%	$163K-45.1%	$297K-21.0%	$376K-21.8%	$481K-15.2%	$567K+2.9%	$551K
Income Tax	$78K	$60K+42.9%	$42K+2.4%	$41K-99.8%	$18.0M+732.7%	$2.2M+111.0%	-$19.6M-12437.1%	$159K+1035.7%	$14K+193.3%	-$15K+94.3%	-$261K-825.0%	$36K-26.5%	$49K+102.4%	-$2.1M-150.5%	$4.1M+1000.8%	$370K
Net Income	$3K	-$3.2M+76.5%	-$13.6M+13.4%	-$15.7M+54.3%	-$34.3M-663.8%	$6.1M-76.7%	$26.1M+109.7%	$12.5M+286.7%	-$6.7M+49.2%	-$13.1M-6.8%	-$12.3M+38.9%	-$20.1M+37.2%	-$32.1M-417.2%	-$6.2M+40.4%	-$10.4M-2253.0%	$483K
EPS (Basic)	N/A	-$0.89+75.2%	-$3.590.0%	-$3.59-232.4%	-$1.08-640.0%	$0.20-76.5%	$0.85+107.3%	$0.41+278.3%	-$0.23+50.0%	-$0.46-4.5%	-$0.44+39.7%	-$0.73+49.0%	-$1.43-376.7%	-$0.30+40.0%	-$0.50-2600.0%	$0.02
EPS (Diluted)	-$0.07	-$0.89	-$3.590.0%	-$3.59	-$1.08-668.4%	$0.19-77.1%	$0.83+107.5%	$0.40+273.9%	-$0.23+50.0%	-$0.46-4.5%	-$0.44+39.7%	-$0.73+49.0%	-$1.43-376.7%	-$0.30+40.0%	-$0.50-2600.0%	$0.02
Diluted Shares (Avg)	N/A	4M	3M+1.1%	3M	32M+1.3%	31M0.0%	31M+1.1%	31M+5.2%	29M+2.2%	29M+2.2%	28M+1.9%	28M+23.6%	22M+6.5%	21M0.0%	21M-10.2%	23M

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Revenue	$25.7M+31.5%	$25.7M+23.3%	$21.1M+7.7%	$19.9M+2.9%	$19.6M-1.7%	$20.9M-21.0%	$19.6M-24.6%	$19.4M-6.0%
Cost of Revenue	$16.8M+23.1%	$16.2M+7.0%	$14.6M+5.4%	$13.7M-7.7%	$13.7M-12.4%	$15.2M	$13.8M-29.5%	$14.9M-7.0%
Gross Profit	$8.9M+51.0%	$9.5M+66.5%	$6.5M+13.1%	$6.2M+38.1%	$5.9M+37.3%	$5.7M-16.1%	$5.8M-9.6%	$4.5M-2.1%
R&D Expenses	$268K+28.8%	$269K-23.1%	$237K-17.4%	$231K-29.6%	$208K-21.2%	$350K	$287K-17.8%	$328K-14.1%
SG&A Expenses	$3.7M-13.9%	$7.2M+42.6%	$3.4M-12.2%	$3.8M-16.5%	$4.3M-5.3%	$5.1M	$3.9M-21.4%	$4.6M-9.4%
Operating Income	$2.1M+308.4%	-$773K+70.8%	$386K+130.9%	-$242K+92.6%	-$1.0M+70.5%	-$2.6M	-$1.2M+39.4%	-$3.3M+21.5%
EBITDA	$2.3M+543.1%	-$243K+86.0%	$692K+203.1%	$222K+108.1%	-$529K+81.3%	-$1.7M	-$671K+52.1%	-$2.7M+24.1%
Interest Expense	$98K-42.0%	$131K-42.0%	$203K-20.4%	$280K-1.1%	$169K-35.5%	$226K	$255K+32.1%	$283K+47.4%
Income Tax	$5K+138.5%	$45K+1600.0%	$18K+1700.0%	$10K-56.5%	-$13K-161.9%	-$3K	$1K0.0%	$23K+53.3%
Net Income	$2.0M+257.5%	-$1.5M+67.4%	$160K+110.6%	-$581K+84.0%	-$1.2M+66.9%	-$4.7M-392.5%	-$1.5M+33.2%	-$3.6M+17.4%
EPS (Basic)	$0.48+229.7%	-$0.41+53.4%	$0.05+110.9%	-$0.17+84.5%	-$0.37-208.3%	-$0.88-1860.0%	-$0.46-557.1%	-$1.10-685.7%
EPS (Diluted)	$0.47	-$0.41	$0.04	-$0.17	-$0.37	-$0.88	-$0.46	-$1.10
Diluted Shares (Avg)	4M	N/A	4M	3M	3M	N/A	3M	3M

OESX Balance Sheet

OESX quarterly balance sheet

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$51.6M-1.6%	$52.5M-16.9%	$63.2M-11.7%	$71.6M-17.6%	$86.8M-6.5%	$92.8M+27.9%	$72.6M+29.5%	$56.0M+23.6%	$45.3M-27.0%	$62.1M-12.5%	$70.9M-19.3%	$87.8M-11.3%	$98.9M-3.1%	$102.1M-18.7%	$125.7M
Current Assets	$37.7M+6.2%	$35.5M-20.8%	$44.8M-11.0%	$50.4M-1.7%	$51.2M-9.3%	$56.5M+2.8%	$55.0M+32.8%	$41.4M+40.5%	$29.5M-32.9%	$43.9M-9.6%	$48.5M-11.8%	$55.0M+9.3%	$50.3M-4.5%	$52.7M-21.6%	$67.2M
Cash & Equivalents	$3.3M-45.3%	$6.0M+15.8%	$5.2M-67.8%	$16.0M+10.5%	$14.5M-25.4%	$19.4M-32.5%	$28.8M+229.4%	$8.7M-7.4%	$9.4M-45.5%	$17.3M+11.4%	$15.5M-22.3%	$20.0M+13.9%	$17.6M+22.2%	$14.4M-37.5%	$23.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$470K-54.0%	$1.0M+0.5%	$1.0M
Inventory	$10.3M-9.6%	$11.4M-37.6%	$18.2M+0.2%	$18.2M-8.2%	$19.8M+1.4%	$19.6M+34.8%	$14.5M+8.2%	$13.4M+71.3%	$7.8M-42.4%	$13.6M-20.2%	$17.0M+19.2%	$14.3M+21.1%	$11.8M-17.6%	$14.3M-21.1%	$18.1M
Accounts Receivable	$16.3M+27.2%	$12.8M-8.4%	$14.0M+2.1%	$13.7M+15.4%	$11.9M-12.3%	$13.6M+30.2%	$10.4M-29.6%	$14.8M+69.5%	$8.7M-4.7%	$9.2M-15.8%	$10.9M-40.4%	$18.3M+21.0%	$15.1M-17.9%	$18.4M-4.0%	$19.2M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$1.5M0.0%	$1.5M0.0%	$1.5M0.0%	$1.5M+324.0%	$350K	N/A	N/A	N/A	$0	$0	$0-100.0%	$4.4M0.0%	$4.4M	$0	N/A
Total Liabilities	$35.0M-13.8%	$40.6M-0.1%	$40.6M+6.0%	$38.3M+76.5%	$21.7M-37.5%	$34.7M-16.3%	$41.5M+9.1%	$38.1M+73.7%	$21.9M-17.7%	$26.6M+6.9%	$24.9M+6.9%	$23.3M+6.2%	$21.9M-9.9%	$24.3M-26.0%	$32.9M
Current Liabilities	$26.7M-0.6%	$26.8M-4.3%	$28.1M+14.7%	$24.5M+33.1%	$18.4M-39.5%	$30.4M+11.6%	$27.2M-0.5%	$27.3M+66.4%	$16.4M-10.7%	$18.4M-4.6%	$19.3M+5.3%	$18.3M+6.6%	$17.2M-8.4%	$18.8M-17.4%	$22.7M
Non-Current Liabilities	$8.3M-39.6%	$13.7M+9.2%	$12.6M-9.4%	$13.9M+315.1%	$3.3M-23.6%	$4.4M-69.5%	$14.3M+33.7%	$10.7M+95.7%	$5.5M-33.2%	$8.2M+46.5%	$5.6M+12.6%	$5.0M+5.0%	$4.7M-14.7%	$5.6M-45.3%	$10.2M
Long-Term Debt	$5.6M-43.6%	$10.0M-0.3%	$10.0M0.0%	$10.0M+52547.4%	$19K-45.7%	$35K-99.7%	$10.1M+8.4%	$9.3M+131.3%	$4.0M-41.1%	$6.8M+69.6%	$4.0M+24.8%	$3.2M+2.3%	$3.2M-23.3%	$4.1M-38.7%	$6.7M
Total Equity	$16.6M+39.9%	$11.9M-47.3%	$22.5M-32.2%	$33.2M-48.9%	$65.1M+12.1%	$58.1M+87.1%	$31.0M+72.7%	$18.0M-23.3%	$23.4M-33.9%	$35.5M-22.9%	$46.0M-28.7%	$64.5M-16.2%	$77.0M-1.0%	$77.8M-16.2%	$92.8M
Retained Earnings	-$118.1M-2.8%	-$114.9M-11.4%	-$103.1M-12.8%	-$91.4M-60.2%	-$57.1M+9.6%	-$63.2M+29.3%	-$89.3M+12.2%	-$101.8M-6.6%	-$95.5M-15.9%	-$82.4M-17.5%	-$70.1M-40.3%	-$50.0M-179.2%	-$17.9M-53.0%	-$11.7M-804.3%	-$1.3M

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Total Assets	$53.3M+8.7%	$51.6M-1.6%	$48.3M-8.5%	$47.9M-14.9%	$49.0M-18.0%	$52.5M-16.9%	$52.7M-19.4%	$56.3M-14.5%
Current Assets	$39.2M+20.1%	$37.7M+6.2%	$32.8M-11.6%	$32.0M-19.9%	$32.7M-22.5%	$35.5M-20.8%	$37.1M-18.8%	$40.0M-11.7%
Cash & Equivalents	$5.2M+44.9%	$3.3M-45.3%	$4.7M-37.0%	$5.2M-4.0%	$3.6M-37.4%	$6.0M+15.8%	$7.5M+50.9%	$5.4M+33.4%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$10.4M+0.7%	$10.3M-9.6%	$9.9M-26.8%	$10.4M-30.6%	$10.3M-35.1%	$11.4M-37.6%	$13.5M-35.4%	$15.0M-25.5%
Accounts Receivable	$14.4M+6.4%	$16.3M+27.2%	$13.2M+8.3%	$11.5M-1.7%	$13.5M+8.4%	$12.8M-8.4%	$12.2M-22.1%	$11.7M-27.4%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$1.5M0.0%	$1.5M0.0%	$1.5M0.0%	$1.5M0.0%	$1.5M0.0%	$1.5M0.0%	$1.5M0.0%	$1.5M0.0%
Total Liabilities	$34.6M-9.6%	$35.0M-13.8%	$36.4M-4.8%	$36.5M-9.8%	$38.2M-6.1%	$40.6M-0.1%	$38.2M-14.6%	$40.5M-6.3%
Current Liabilities	$25.6M-3.7%	$26.7M-0.6%	$24.2M-8.8%	$23.9M-10.9%	$26.6M+7.2%	$26.8M-4.3%	$26.6M-13.4%	$26.9M-7.5%
Non-Current Liabilities	$9.0M-22.8%	$8.3M-39.6%	$12.2M+4.5%	$12.6M-7.6%	$11.7M-26.7%	$13.7M+9.2%	$11.7M-17.0%	$13.6M-3.8%
Long-Term Debt	$6.3M-23.0%	$5.6M-43.6%	$9.0M	$9.3M-24.0%	$8.1M-38.7%	$10.0M-0.3%	N/A	$12.2M+21.7%
Total Equity	$18.7M+73.5%	$16.6M+39.9%	$11.8M-18.2%	$11.4M-28.0%	$10.8M-43.4%	$11.9M-47.3%	$14.5M-29.9%	$15.8M-30.2%
Retained Earnings	-$116.1M0.0%	-$118.1M-2.8%	-$116.6M-4.1%	-$116.7M-5.7%	-$116.1M-8.7%	-$114.9M-11.4%	-$112.0M-7.0%	-$110.5M-7.8%

OESX Cash Flow Statement

OESX quarterly cash flow statement

Metric	TTM	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$788K	-$1.1M-280.1%	$599K+105.9%	-$10.1M-340.5%	-$2.3M-1927.4%	-$113K-106.5%	$1.7M-91.5%	$20.3M+502.2%	-$5.1M-14.6%	-$4.4M-132.0%	-$1.9M+45.2%	-$3.5M+72.9%	-$12.8M-229.4%	$9.9M+337.9%	$2.3M-80.3%	$11.5M
Depreciation & Amortization	N/A	$1.8M-31.9%	$2.6M+1.1%	$2.6M+23.6%	$2.1M+29.6%	$1.6M+9.2%	$1.5M-5.2%	$1.6M-12.4%	$1.8M-11.3%	$2.0M-13.8%	$2.3M-44.0%	$4.2M-0.4%	$4.2M-7.8%	$4.5M-0.9%	$4.6M+8.1%	$4.2M
Stock-Based Compensation	N/A	$483K-58.3%	$1.2M+21.8%	$950K-41.1%	$1.6M+98.3%	$813K+8.0%	$753K+21.8%	$618K-25.1%	$825K-25.1%	$1.1M-31.3%	$1.6M+9.8%	$1.5M-2.5%	$1.5M-5.9%	$1.6M+36.9%	$1.2M-8.1%	$1.3M
Capital Expenditures	$34K	$83K-16.2%	$99K-88.2%	$837K+42.8%	$586K+13.1%	$518K-42.6%	$902K+10.8%	$814K+113.6%	$381K-25.6%	$512K-22.4%	$660K+64.6%	$401K-80.0%	$2.0M+389.3%	$410K-81.0%	$2.2M-50.1%	$4.3M
Free Cash Flow	$250K	-$1.2M-332.4%	$500K+104.6%	-$10.9M-279.9%	-$2.9M-355.9%	-$631K-176.3%	$827K-95.8%	$19.5M+459.1%	-$5.4M-10.4%	-$4.9M-92.2%	-$2.6M+33.8%	-$3.9M+73.9%	-$14.8M-256.1%	$9.5M+9204.9%	$102K-98.6%	$7.2M
Investing Cash Flow	-$37K	-$86K-167.2%	$128K+117.5%	-$731K+88.2%	-$6.2M-26.0%	-$4.9M-419.9%	-$946K-1.1%	-$936K-108.5%	-$449K+23.2%	-$585K-135.5%	$1.6M+543.3%	-$372K+49.0%	-$730K+84.8%	-$4.8M-112.0%	-$2.3M+49.9%	-$4.5M
Financing Cash Flow	$850K	-$1.5M-1813.3%	$90K+742.9%	-$14K-100.1%	$10.0M+9526.9%	$104K+101.0%	-$10.1M-1748.9%	$615K-87.2%	$4.8M+266.9%	-$2.9M-242.8%	$2.0M+428.3%	-$615K-103.8%	$16.0M+943.1%	-$1.9M+78.0%	-$8.6M-292.2%	$4.5M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$6.0M+711.8%	$740K

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Operating Cash Flow	$1.4M+362.5%	-$1.5M-112.6%	-$897K-123.8%	$1.8M+265.3%	-$515K+82.6%	-$699K-499.4%	$3.8M+259.0%	$498K+112.5%
Depreciation & Amortization	$233K-51.9%	$530K-41.8%	$306K-47.1%	$464K-12.9%	$484K-18.8%	$911K	$578K-12.4%	$533K-5.0%
Stock-Based Compensation	$159K-4.2%	N/A	-$3K-101.7%	$157K-54.9%	$166K-43.5%	N/A	$180K-32.6%	$348K+54.0%
Capital Expenditures	$6K-89.1%	$25K-51.0%	-$252K+1226.3%	$255K+5000.0%	$55K+129.2%	$51K+64.5%	$19K-84.3%	$5K-97.9%
Free Cash Flow	$1.3M+336.1%	-$1.5M-101.5%	-$1.1M-130.7%	$1.6M+217.2%	-$570K+80.9%	-$750K-620.8%	$3.7M+303.8%	$493K+111.7%
Investing Cash Flow	-$6K+89.1%	-$25K-316.7%	$251K+1295.2%	-$257K-243.6%	-$55K-129.2%	-$6K-131.6%	-$21K+79.6%	$179K+176.5%
Financing Cash Flow	$554K+130.1%	$55K+106.7%	$212K+113.1%	$29K+102.9%	-$1.8M-152.2%	-$820K-13566.7%	-$1.6M-53666.7%	-$1.0M-49900.0%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

OESX 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.

OESX quarterly financial ratios

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	32.6%+7.2pp	25.4%+2.3pp	23.1%+0.5pp	22.6%-4.6pp	27.3%+1.5pp	25.8%+1.2pp	24.6%+2.5pp	22.1%-2.2pp	24.3%-0.4pp	24.7%+1.0pp	23.6%+25.2pp	-1.6%-27.5pp	25.9%-5.1pp	31.1%+1.2pp	29.9%
Operating Margin	-1.9%+11.4pp	-13.3%-1.3pp	-11.9%+8.7pp	-20.7%-27.4pp	6.8%+0.9pp	5.9%-2.8pp	8.7%+18.1pp	-9.4%+12.2pp	-21.5%-3.7pp	-17.8%+11.6pp	-29.4%+14.8pp	-44.2%-34.8pp	-9.4%-1.7pp	-7.7%-8.2pp	0.5%
Net Margin	-3.7%+13.4pp	-17.1%+0.3pp	-17.3%+27.0pp	-44.4%-49.3pp	4.9%-17.5pp	22.4%+14.1pp	8.3%+18.4pp	-10.2%+11.6pp	-21.8%-4.3pp	-17.5%+12.3pp	-29.8%+14.7pp	-44.4%-37.4pp	-7.0%+5.1pp	-12.1%-12.6pp	0.5%
Return on Equity	-19.2%+95.2pp	-114.4%-44.8pp	-69.7%+33.6pp	-103.3%-112.6pp	9.4%-35.6pp	45.0%+4.8pp	40.2%+77.3pp	-37.1%+18.9pp	-56.0%-21.4pp	-34.7%+9.1pp	-43.8%+5.9pp	-49.7%-41.6pp	-8.1%+5.3pp	-13.4%-13.9pp	0.5%
Return on Assets	-6.2%+19.7pp	-25.9%-1.1pp	-24.9%+23.1pp	-48.0%-55.0pp	7.0%-21.1pp	28.2%+11.0pp	17.2%+29.1pp	-11.9%+17.1pp	-29.0%-9.2pp	-19.8%+8.6pp	-28.4%+8.1pp	-36.5%-30.2pp	-6.3%+3.9pp	-10.2%-10.6pp	0.4%
Current Ratio	1.41+0.1x	1.32-0.3x	1.60-0.5x	2.06-0.7x	2.79+0.9x	1.86-0.2x	2.02+0.5x	1.51-0.3x	1.79-0.6x	2.39-0.1x	2.52-0.5x	3.00+0.1x	2.93+0.1x	2.81-0.2x	2.96
Debt-to-Equity	0.34-0.5x	0.84+0.4x	0.44+0.1x	0.30+0.3x	0.000.0x	0.00-0.3x	0.32-0.2x	0.52+0.3x	0.170.0x	0.19+0.1x	0.090.0x	0.050.0x	0.040.0x	0.050.0x	0.07
Asset Turnover	1.67+0.2x	1.52+0.1x	1.43+0.4x	1.08-0.4x	1.43+0.2x	1.26-0.8x	2.08+0.9x	1.17-0.2x	1.33+0.2x	1.13+0.2x	0.95+0.1x	0.82-0.1x	0.90+0.1x	0.840.0x	0.80
FCF Margin	-1.4%-2.0pp	0.6%+12.7pp	-12.1%-8.3pp	-3.7%-3.2pp	-0.5%-1.2pp	0.7%-12.2pp	13.0%+21.2pp	-8.3%-0.1pp	-8.2%-4.5pp	-3.6%+2.1pp	-5.7%+14.8pp	-20.5%-31.2pp	10.7%+10.6pp	0.1%-7.0pp	7.1%

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Gross Margin	34.6%+4.5pp	37.0%+9.6pp	30.9%+1.5pp	31.0%+7.9pp	30.1%+8.5pp	27.4%+1.6pp	29.4%+4.9pp	23.1%+0.9pp
Operating Margin	8.2%+13.4pp	-3.0%+9.6pp	1.8%+8.2pp	-1.2%+15.7pp	-5.2%+12.1pp	-12.7%	-6.4%+1.6pp	-16.9%+3.4pp
Net Margin	7.6%+14.0pp	-6.0%+16.6pp	0.8%+8.5pp	-2.9%+15.8pp	-6.4%+12.5pp	-22.6%-28.7pp	-7.7%+1.0pp	-18.7%+2.6pp
Return on Equity	10.4%+22.0pp	-9.2%+30.4pp	1.4%+11.8pp	-5.1%+17.8pp	-11.5%+8.2pp	-39.6%-46.8pp	-10.4%+0.5pp	-22.9%-3.6pp
Return on Assets	3.7%+6.2pp	-3.0%+6.0pp	0.3%+3.2pp	-1.2%+5.2pp	-2.5%+3.8pp	-9.0%-11.5pp	-2.9%+0.6pp	-6.4%+0.2pp
Current Ratio	1.54+0.3x	1.41+0.1x	1.350.0x	1.34-0.2x	1.23-0.5x	1.32-0.3x	1.40-0.1x	1.49-0.1x
Debt-to-Equity	0.33-0.4x	0.34-0.5x	0.76-1.9x	0.810.0x	0.75+0.1x	0.84+0.4x	2.64+2.1x	0.77+0.3x
Asset Turnover	0.48+0.1x	0.50+0.1x	0.44+0.1x	0.42+0.1x	0.40+0.1x	0.400.0x	0.370.0x	0.340.0x
FCF Margin	5.2%+8.1pp	-5.9%-2.3pp	-5.5%-24.6pp	7.8%+5.3pp	-2.9%+12.1pp	-3.6%-4.1pp	19.1%+15.5pp	2.5%+23.1pp

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
Orion Energy Systems, Inc. OESX	FY2026	$86.3M	-$3.2M	-3.7%	$100.3M	51/100
Flux Power Holdings, Inc. FLUX	FY2026	$42.1M	-$7.4M	-17.7%	$10.1M	20/100
Asia Pacific Wire & Cable Corp APWC	FY2025	$489.7M	$5.2M	1.1%	$53.2M	29/100
E-Power Inc. EPOW	FY2025	$46.4M	-$16.6M	-35.8%	$7.7M	22/100
Ideal Power Inc. IPWR	FY2025	$38K	-$10.6M	N/A	$56.4M	—
CCSC Technology International Holdings Limited CCTG	FY2026	$17.3M	-$4.8M	-27.8%	$5.4M	32/100

Where Orion Energy Systems, Inc. Ranks

Frequently Asked Questions

What is Orion Energy Systems, Inc.'s annual revenue?

Orion Energy Systems, Inc. (OESX) reported $86.3M in total revenue for fiscal year 2026. This represents a 8.3% 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 Orion Energy Systems, Inc.'s revenue growing?

Orion Energy Systems, Inc. (OESX) revenue grew by 8.3% year-over-year, from $79.7M to $86.3M in fiscal year 2026.

Is Orion Energy Systems, Inc. profitable?

No, Orion Energy Systems, Inc. (OESX) reported a net income of -$3.2M in fiscal year 2026, with a net profit margin of -3.7%.

What is Orion Energy Systems, Inc.'s EBITDA?

Orion Energy Systems, Inc. (OESX) had EBITDA of $142K in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Orion Energy Systems, Inc. have?

As of fiscal year 2026, Orion Energy Systems, Inc. (OESX) had $3.3M in cash and equivalents against $5.6M in long-term debt.

What is Orion Energy Systems, Inc.'s gross margin?

Orion Energy Systems, Inc. (OESX) had a gross margin of 32.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Orion Energy Systems, Inc.'s operating margin?

Orion Energy Systems, Inc. (OESX) had an operating margin of -1.9% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Orion Energy Systems, Inc.'s net profit margin?

Orion Energy Systems, Inc. (OESX) had a net profit margin of -3.7% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is Orion Energy Systems, Inc.'s return on equity (ROE)?

Orion Energy Systems, Inc. (OESX) has a return on equity of -19.2% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Orion Energy Systems, Inc.'s free cash flow?

Orion Energy Systems, Inc. (OESX) recorded an outflow of $1.2M in free cash flow during fiscal year 2026. This represents a -332.4% 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 Orion Energy Systems, Inc.'s operating cash flow?

Orion Energy Systems, Inc. (OESX) recorded an outflow of $1.1M in operating cash flow during fiscal year 2026, representing cash used by core business activities.

What are Orion Energy Systems, Inc.'s total assets?

Orion Energy Systems, Inc. (OESX) had $51.6M in total assets as of fiscal year 2026, including both current and long-term assets.

What are Orion Energy Systems, Inc.'s capital expenditures?

Orion Energy Systems, Inc. (OESX) invested $83K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Orion Energy Systems, Inc. spend on research and development?

Orion Energy Systems, Inc. (OESX) invested $945K in research and development during fiscal year 2026.

How many shares does Orion Energy Systems, Inc. have outstanding?

Orion Energy Systems, Inc. (OESX) had 4M shares outstanding as of fiscal year 2026.

What is Orion Energy Systems, Inc.'s current ratio?

Orion Energy Systems, Inc. (OESX) had a current ratio of 1.41 as of fiscal year 2026, which is considered adequate.

What is Orion Energy Systems, Inc.'s debt-to-equity ratio?

Orion Energy Systems, Inc. (OESX) had a debt-to-equity ratio of 0.34 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Orion Energy Systems, Inc.'s return on assets (ROA)?

Orion Energy Systems, Inc. (OESX) had a return on assets of -6.2% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Orion Energy Systems, Inc.'s P/E ratio?

Orion Energy Systems, Inc. (OESX) has no price-to-earnings ratio at the moment: outside the range published as a multiple (on $3K net income, trailing 12 months to June 30, 2026). The market capitalization is $100.3M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Orion Energy Systems, Inc.'s price-to-sales ratio?

Orion Energy Systems, Inc. (OESX) trades at 1.1x sales, its market capitalization divided by revenue of $92.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $100.3M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Orion Energy Systems, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2026, Orion Energy Systems, Inc. (OESX) held $3.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $1.1M over that year. Dividing the one by the other, the reported balance equals about 36 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Orion Energy Systems, Inc.'s Altman Z-Score?

Orion Energy Systems, Inc. (OESX) has an Altman Z-Score of 0.34, 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 Orion Energy Systems, Inc.'s Piotroski F-Score?

Orion Energy Systems, Inc. (OESX) has a Piotroski F-Score of 7 out of 9, indicating strong 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Orion Energy Systems, Inc.'s earnings high quality?

Orion Energy Systems, Inc. (OESX) reported a net loss of $3.2M while operations used $1.1M 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 Orion Energy Systems, Inc. cover its interest payments?

Orion Energy Systems, Inc. (OESX) reported an operating loss of $1.6M against $783K 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 Orion Energy Systems, Inc.?

Orion Energy Systems, Inc. (OESX) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.