Maxeon Solar Technologies (MAXN) AI Stock Analysis

• Market Cap: $64.38M
• Dividend Yield: N/A
• Average Volume (3M): 120.94K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.66
• Revenue Growth: -54.68%
• EPS Growth: 63.56%
• Country: US
• Employees: 1,591
• Sector: Technology
• Sector Strength: 88
• Industry: Solar
• EPS (TTM): -3.89
• Shares Outstanding: 16,896,729
• 10 Day Avg. Volume: 88,912
• 30 Day Avg. Volume: 120,938
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 5.33
• Enterprise Value/Revenue: 0.67
• Enterprise Value/Gross Profit: -1.38
• Enterprise Value/Ebitda: -0.74
• 1Y Price Target: $3.50
• Price Target Upside: -3.31% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 41 Neutral
• Price Target: $3.50 ▼(-3.31% Downside)

Maxeon Solar Technologies is currently facing significant financial and valuation challenges, with declining revenues, negative profitability, and a precarious balance sheet. Technical indicators suggest a bearish trend, further impacting the stock's outlook. The absence of earnings call data and corporate events limits additional insights.

Maxeon Solar Technologies Business Overview & Revenue Model

Company Description

Maxeon Solar Technologies, Ltd. designs, manufactures, markets, and sells solar panels and related solar system components worldwide. The company provides interdigitated back contact and shingled solar cells and panels under the SunPower brand. It offers its products to dealers, project developers, system integrators, distributors, resellers, and residential and small-scale commercial customers. Maxeon Solar Technologies, Ltd. was incorporated in 2019 and is headquartered in Singapore.

How the Company Makes Money

Maxeon Solar Technologies generates revenue through the sale of its solar panels and system components to various customer segments, including residential, commercial, and utility-scale clients. The company's revenue model is primarily based on direct sales and long-term supply agreements with distributors and installers globally. Maxeon benefits from key partnerships with other industry leaders, such as its historical association with SunPower, which provides a strategic advantage in reaching diverse markets. Additionally, Maxeon's focus on innovation and high-efficiency solar technologies allows it to command a premium price for its products, contributing to its profitability.

Maxeon Solar Technologies Financial Statement Overview

Summary

Maxeon Solar Technologies is facing substantial financial challenges. The income statement reflects declining revenue and persistent losses. The balance sheet is under pressure with negative equity and high liabilities. Cash flow issues are evident with negative operating and free cash flow, indicating operational and financial sustainability concerns.

Income Statement

Maxeon Solar Technologies has experienced a significant decline in total revenue over the recent years, with the 2024 revenue nearly halving from 2023. Gross profit margin is negative, indicating cost inefficiencies or pricing pressures. The company has a negative net profit margin, highlighting profitability challenges. EBIT and EBITDA margins are also negative, suggesting operational difficulties. Overall, the income statement reflects a challenging financial environment with declining revenues and negative profitability metrics.

Balance Sheet

The company's balance sheet shows negative stockholders' equity, a concerning indicator of financial health. The debt-to-equity ratio is not calculable due to negative equity, but high total liabilities relative to assets suggest leverage issues. The equity ratio is negative, further highlighting the financial instability. The balance sheet reflects a precarious financial position with high leverage and negative equity.

Cash Flow

Operating cash flow is negative, indicating that the company's core operations are not generating cash. The free cash flow is also negative, showing cash outflows exceeding inflows, with no visible improvement trend. The cash flow metrics highlight liquidity challenges and the need for external financing to sustain operations. While financing cash flow is positive, indicating external funding, reliance on it is not ideal for long-term sustainability.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	509.05M	1.12B	1.06B	783.28M	844.84M
Gross Profit	-249.41M	78.11M	-47.95M	-29.01M	-9.78M
EBITDA	-507.79M	-175.21M	-141.33M	-169.00M	-46.50M
Net Income	-614.30M	-275.83M	-258.07M	-239.27M	-137.81M
Balance Sheet
Total Assets	376.27M	1.00B	1.26B	1.06B	980.34M
Cash, Cash Equivalents and Short-Term Investments	28.89M	190.17M	303.44M	166.54M	206.74M
Total Debt	311.49M	437.66M	449.80M	187.27M	198.98M
Total Liabilities	664.64M	997.37M	1.21B	701.67M	541.06M
Stockholders Equity	-293.84M	-1.11M	42.44M	349.46M	432.64M
Cash Flow
Free Cash Flow	-322.31M	-321.89M	-60.04M	-159.54M	-216.85M
Operating Cash Flow	-270.16M	-254.29M	3.44M	-4.87M	-189.16M
Investing Cash Flow	-25.24M	13.93M	-139.30M	-154.45M	-45.49M
Financing Cash Flow	141.23M	167.95M	211.47M	141.81M	320.35M

Maxeon Solar Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.62
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MAXN, the sentiment is Negative. The current price of 3.62 is below the 20-day moving average (MA) of 3.80, below the 50-day MA of 3.98, and below the 200-day MA of 4.28, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 43.29 is Neutral, neither overbought nor oversold. The STOCH value of 23.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MAXN.

Maxeon Solar Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FSLR	79 Outperform	23.51B	19.07	14.71%	―	15.39%	4.28%
JKS	61 Neutral	1.28B	-5.07	0.27%	10.87%	-30.26%	-156.69%
RUN	57 Neutral	3.70B	-1.46	-87.71%	―	3.27%	-81.63%
SEDG	51 Neutral	2.22B	-1.27	-334.37%	―	-36.07%	-233.14%
CSIQ	50 Neutral	867.29M	-128.75	1.28%	―	-9.11%	-118.62%
MAXN	41 Neutral	$64.38M	―	307.38%	―	-54.68%	63.56%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Maxeon Solar Technologies Corporate Events

Maxeon Solar Technologies Approves Key Proposals at Annual Meeting

On August 29, 2025, Maxeon Solar Technologies held its Annual General Meeting of Shareholders, where five key proposals were approved. These included the adoption of the Directors’ Statement and Audited Financial Statements for 2024, the re-election of Dr. Teo Tong Kooi as a Director, approval of his annual fees, appointment of NLA DFK Assurance PAC and Marcum Asia CPAs LLP as auditors, and authorization for directors to issue shares. These decisions are expected to strengthen the company’s governance and operational capabilities.

Maxeon Solar Technologies Reports First Half 2025 Financial Results Amid U.S. Import Challenges

On August 14, 2025, Maxeon Solar Technologies announced its financial results for the first half of 2025, reporting a revenue of $39 million. The company faced challenges due to the exclusion of its solar panels from U.S. imports by the U.S. Customs & Border Protection since July 2024, which they are contesting in court. Maxeon is evaluating the impact of recent U.S. legislation on its operations and is considering strategic alternatives to adapt its business. The company is also undertaking restructuring initiatives to strengthen its financial position, including discussions with its controlling shareholder, TZE, to reduce liabilities and exploring monetization opportunities for non-U.S. assets.

Maxeon Solar Technologies Changes Auditor Ahead of 2025

Maxeon Solar Technologies announced the termination of its relationship with Ernst & Young LLP as its independent registered public accounting firm, effective August 29, 2025. This decision, approved by the company’s audit committee, was not due to any disagreements on accounting principles or practices. The company plans to appoint Marcum Asia as its new auditor, pending shareholder approval at the 2025 annual general meeting. The reports from EY for the years ending December 31, 2024, and 2023 did not contain any adverse opinions, except for an explanatory paragraph regarding the company’s ability to continue as a going concern.

Maxeon Solar Technologies Announces AGM and Auditor Changes

Maxeon Solar Technologies announced its Annual General Meeting (AGM) scheduled for August 29, 2025. Key agenda items include the re-election of Dr. Teo Tong Kooi as a director, approval of his annual fees, and a proposed change of auditors from Ernst & Young LLP to NLA DFK Assurance PAC and Marcum Asia CPAs LLP. This change aims to bring fresh perspectives and enhance cost efficiencies. The company has expressed appreciation for the services of the retiring auditors, EY.

Maxeon Solar Technologies Appoints New Chairman

On July 7, 2025, Maxeon Solar Technologies announced the appointment of Mr. Cheng WANG, also known as Kevin WANG, as the new Chairman of the Board. He succeeds Mr. Donald Colvin, who will remain on the Board and continue as Chair of the Audit Committee. This leadership change is part of Maxeon’s ongoing strategic initiatives, as Mr. Wang will also maintain his roles in several key committees, potentially strengthening the company’s governance and strategic direction.

Maxeon Solar Technologies Announces Leadership Change

Maxeon Solar Technologies announced that its Chief Commercial Officer, Vikas Desai, will depart the company at the end of June 2025. In response, CEO George Guo will temporarily take over the responsibilities of the Chief Commercial Officer, indicating a strategic shift in leadership roles within the company.