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ERock
(NYSE:EROC)
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Rating:53Neutral
Price Target:
$11.00
▼(-10.64% Downside)
Action:Reiterated
Date:09/11/26
Overall score reflects mixed financial quality: strong growth and a sharp improvement in cash flow are counterbalanced by persistent losses and a high-risk balance sheet with negative equity. Technically, the stock shows weak momentum (below key moving averages with negative MACD), while valuation is constrained by losses (negative P/E). The earnings call adds support via strong backlog and upbeat 2026 guidance toward EBITDA positivity, but execution and timing risks temper the impact.
Positive Factors
Backlog visibility
The record contracted backlog provides substantial multi-year revenue visibility and validates demand for ERock’s power systems. Large customer commitments can support production planning, capacity investment, and commercial scale, although conversion will still depend on execution and project timing.
Negative Factors
Persistent unprofitability
ERock remains loss-making at both adjusted operating and GAAP net-income levels, so growth has not yet translated into durable profitability. Continued losses can consume resources, increase execution pressure, and leave the company dependent on successful delivery of its 2026 ramp.
Read all positive and negative factors
Positive Factors
Negative Factors
Backlog visibility
The record contracted backlog provides substantial multi-year revenue visibility and validates demand for ERock’s power systems. Large customer commitments can support production planning, capacity investment, and commercial scale, although conversion will still depend on execution and project timing.
Read all positive factors
ERock (EROC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.78B
Dividend YieldN/A
Average Volume (3M)2.34M
Price to Earnings (P/E)―
Beta (1Y)3.31
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees440
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)N/A
Shares Outstanding48,174,023
10 Day Avg. Volume2,151,892
30 Day Avg. Volume2,337,881
Financial Highlights & Ratios
PEG Ratio-5.63
Price to Book (P/B)-62.84
Price to Sales (P/S)22.46
P/FCF Ratio36.78
Enterprise Value/Market Cap0.11
Enterprise Value/Revenue4.32
Enterprise Value/Gross Profit22.22
Enterprise Value/Ebitda-9.87
Forecast
1Y Price Target
$22.67Price Target Upside84.13% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
ERock Business Overview & Revenue Model
Company Description
ERock, Inc. designs, deploys, sells, operates, and maintains distributed power generation systems designed to provide power for commercial and industrial customers in the United States. Its offerings include the design, installation, and operation...
ERock Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
12
Very Negative
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 71.61M | 183.15M | 128.49M |
| Gross Profit | 13.93M | 37.99M | 17.21M |
| EBITDA | -31.35M | -50.19M | -37.17M |
| Net Income | -84.93M | -59.03M | -56.93M |
Balance Sheet | |||
| Total Assets | 978.01M | 257.90M | 207.68M |
| Cash, Cash Equivalents and Short-Term Investments | 626.64M | 108.10M | 21.91M |
| Total Debt | 29.77M | 72.67M | 84.25M |
| Total Liabilities | 721.43M | 323.32M | 224.42M |
| Stockholders Equity | 49.23M | -65.47M | -16.77M |
Cash Flow | |||
| Free Cash Flow | 260.10M | 111.83M | -33.21M |
| Operating Cash Flow | 268.94M | 116.50M | -24.21M |
| Investing Cash Flow | -8.84M | -4.67M | -9.00M |
| Financing Cash Flow | 292.66M | -25.65M | 31.24M |
ERock Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $9.45B | 25.82 | 16.63% | 1.17% | -0.26% | 29.38% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | $2.78B | -32.25 | 527.15% | ― | ― | ― | |
41 Neutral | $348.64M | -51.16 | -15.68% | ― | ― | -152.00% | |
34 Underperform | $7.00M | >-0.01 | <0.01% | ― | ― | -8154.56% |
* General Sector Average
EROC
ERock
12.65
-6.10
-32.53%
FLS
Flowserve
74.37
22.51
43.40%
BTTC
Black Titan
0.65
-9.40
-93.54%
ATCX
Atlas Critical Minerals
2.91
-40.29
-93.26%
JAGU
Jaguar Uranium Corp. Class A
1.19
-1.88
-61.24%
GMTL
Guardian Metal Resources PLC Sponsored ADR
8.63
-4.87
-36.07%
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.