Want to see DE:S92 full AI Analyst Report?
Top Page
SMA Solar Technology
(XETRA:S92)
Select Model
Select Model
Rating:53Neutral
Price Target:
€51.00
▼(-11.07% Downside)
Action:Reiterated
Date:08/18/26
The score is held back primarily by weak and volatile financial performance (sharp revenue decline and ongoing operating/net losses), partially offset by a manageable balance sheet and a recent improvement to positive operating/free cash flow. Technically, the stock is supported by trading above major moving averages with largely neutral momentum, while valuation remains challenged because the company is currently loss-making and no dividend yield is available in the data.
Positive Factors
Manageable Leverage
Lower leverage gives SMA Solar greater financial flexibility while it works through earnings volatility. A debt-to-equity ratio of about 0.21 reduces balance-sheet pressure, limits financing sensitivity, and leaves more capacity to support operations or invest in its solar technology portfolio.
Negative Factors
Severe Revenue Contraction
The sharp revenue contraction signals substantial pressure on demand, project activity, or the company’s sales mix. Persistent top-line weakness can reduce operating leverage, weaken supplier and customer positioning, and make it harder for SMA Solar to absorb fixed costs or fund growth over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable Leverage
Lower leverage gives SMA Solar greater financial flexibility while it works through earnings volatility. A debt-to-equity ratio of about 0.21 reduces balance-sheet pressure, limits financing sensitivity, and leaves more capacity to support operations or invest in its solar technology portfolio.
Read all positive factors
SMA Solar Technology (S92) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€1.79B
Dividend Yield2.44%
Average Volume (3M)112.90K
Price to Earnings (P/E)―
Beta (1Y)1.63
Revenue Growth4.28%
EPS Growth67.69%
CountryDE
Employees3,653
SectorGeneral
Sector StrengthN/A
IndustrySolar
Share Statistics
EPS (TTM)-1.90
Shares Outstanding34,700,000
10 Day Avg. Volume108,906
30 Day Avg. Volume112,904
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)3.23
Price to Sales (P/S)0.78
P/FCF Ratio9.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€76.00Price Target Upside32.52% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)3.05
Revenue Forecast (FY)€1.67B
SMA Solar Technology Business Overview & Revenue Model
Company Description
SMA Solar Technology AG, founded in 1981 and headquartered in Niestetal, Germany, is a globally operating company specializing in solar and energy technology. The firm develops, manufactures, and distributes a wide range of products, including pho...
How the Company Makes Money
SMA Solar Technology makes money primarily by selling solar and energy system equipment and related solutions to customers in the PV value chain. The core revenue stream is the sale of inverters and associated system components (the power electron...
SMA Solar Technology Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.52B | 1.52B | 1.53B | 1.90B | 1.07B | 983.67M |
| Gross Profit | 196.50M | 114.87M | 252.81M | 559.34M | 224.27M | 175.45M |
| EBITDA | -2.30M | -76.50M | -15.61M | 316.19M | 77.87M | 9.48M |
| Net Income | -65.95M | -181.10M | -117.73M | 225.67M | 55.82M | -23.00M |
Balance Sheet | ||||||
| Total Assets | 1.39B | 1.31B | 1.54B | 1.62B | 1.11B | 1.05B |
| Cash, Cash Equivalents and Short-Term Investments | 241.70M | 201.40M | 208.96M | 266.99M | 206.61M | 237.48M |
| Total Debt | 94.21M | 140.03M | 196.23M | 31.85M | 23.66M | 46.66M |
| Total Liabilities | 949.54M | 940.43M | 987.91M | 935.73M | 646.50M | 642.09M |
| Stockholders Equity | 441.41M | 365.54M | 553.32M | 686.18M | 463.52M | 410.41M |
Cash Flow | ||||||
| Free Cash Flow | 119.29M | 126.20M | -202.77M | 56.41M | -33.16M | 46.74M |
| Operating Cash Flow | 135.65M | 142.99M | -112.82M | 140.78M | 28.66M | 94.26M |
| Investing Cash Flow | -19.71M | -33.31M | -28.87M | -85.99M | 42.52M | -81.62M |
| Financing Cash Flow | -78.48M | -111.97M | 117.23M | -2.58M | -19.34M | -20.76M |
SMA Solar Technology Technical Analysis
Negative
57.35
Price Trends
57.84
Negative
56.80
Negative
50.60
Positive
Market Momentum
-0.81
Positive
41.15
Neutral
10.18
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:S92, the sentiment is Negative. The current price of 57.35 is below the 20-day moving average (MA) of 58.00, below the 50-day MA of 57.84, and above the 200-day MA of 50.60, indicating a neutral trend. The MACD of -0.81 indicates Positive momentum. The RSI at 41.15 is Neutral, neither overbought nor oversold. The STOCH value of 10.18 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:S92.
SMA Solar Technology Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | €136.05M | -38.16 | -1.84% | 1.89% | -4.10% | 4.83% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €323.18M | 28.07 | 5.43% | 6.44% | 54.11% | -66.69% | |
53 Neutral | €1.79B | -28.15 | -16.75% | 2.44% | 4.28% | 67.69% | |
50 Neutral | €2.00B | 46.67 | 1.88% | 4.28% | -7.56% | -71.88% | |
42 Neutral | €979.83M | -0.07 | -377.02% | 0.18% | ― | ― | |
41 Neutral | €420.61M | -14.18 | -20.05% | 0.71% | 13.19% | -27.65% |
* General Sector Average
DE:S92
SMA Solar Technology
53.40
31.36
142.29%
DE:HRPK
7C Solarparken
1.73
0.13
7.81%
DE:BYW
BayWa AG
7.56
-0.27
-3.45%
DE:EKT
Energiekontor
23.30
-13.70
-37.03%
DE:MVV1
MVV Energie
30.40
1.03
3.50%
DE:PNE3
PNE WIND
5.65
-5.46
-49.16%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.