SolarMax Technology, Inc. (SMXT) Stock Price & Analysis
SolarMax Technology, Inc. (SMXT) is trading at USD 4.37, down 3.32% today, as of October 23, 2026 at 16:14 UTC (US market open; quotes may be delayed), according to Nexqual market data.
SMXT last closed at USD 4.52; today's session has ranged USD 4.36–4.44 on volume of 4,630 shares. Market capitalization is $20.72M, with a 52-week range of USD 1.82–15.24 (NCM). Source: Nexqual, retrieved October 23, 2026 at 16:40 UTC.
Also available as compact Markdown for AI agents: nexqual.com/SMXT.md
Key facts (SMXT)
- Last four reported quarters (through Jun 30, 2026): revenue $102M, net income -$8.1M (-7.9% margin) (SEC filings).
- Analysts: None.
- Total return with dividends: 1Y -63.9% vs S&P 500 +14.6%; 5Y -92.5% vs S&P 500 +77.3%.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (SMXT)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $44.7M | $54.1M | $23.0M | $91.0M | $102M |
| Gross profit | $7.5M | $11.1M | $2.3M | $4.2M | — |
| Operating income | -$8.0M | $484K | -$33.1M | -$6.3M | -$7.7M |
| Net income | -$6.9M | $435K | -$35.0M | -$6.3M | -$8.1M |
| EPS (diluted) | -$2.04 | $0.12 | -$9.48 | -$1.56 | — |
| Free cash flow | -$2.1M | $4.1M | -$9.1M | — | — |
| Gross margin | 16.7% | 20.6% | 10.1% | 4.6% | — |
| Operating margin | -17.8% | 0.9% | -144.0% | -6.9% | -7.6% |
| Net margin | -15.4% | 0.8% | -152.1% | -7.0% | -7.9% |
| Revenue growth | — | +21.1% | -57.5% | +295.8% | — |
| Cash + short-term investments | $3.8M | $2.5M | $7.1M | — | — |
| Total debt | $13.3M | $28.0M | $24.5M | $20.5M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (SMXT)
P/S 0.2x · EV/Sales 0.1x · Earnings yield -39.05% · Net cash $14.7M · EV $6.0M
Analysts (SMXT)
Consensus None.
Total return (dividends reinvested) (SMXT)
| 1Y (from 2025-10-23) | 5Y (from 2024-02-26) | |
|---|---|---|
| Total return | -63.9% | -92.5% |
| S&P 500 (SPY) | +14.6% | +77.3% |
| Per year | -64.0% | -62.4% |
| Volatility (annualized) | 112.9% | 141.5% |
| Max drawdown | -85.3% (Nov 2025→Sep 2026) | -98.7% (Apr 2024→Sep 2026) |
SMXT suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Tesla (TSLA) | “Battery systems are available from a number of suppliers, including Tesla, Enphase and LG.” |
| Customer | AMD (AMD) | “We have not generated any revenue from AMD since 2019.” |
| Customer | Investment Corporation Guizhou Jinyuan Weining Energy | “Subsequent to December 31, 2021 through the date of this annual report, we did not generate revenues from China, and we are not engaged in any negotiations with SPIC or any other potential customer, and we are not engaged in any marketing activities.” |
| Customer | SolarMax Renewable Energy Provider | “SolarMax Renewable Energy Provider, Inc., a California corporation ("SREP"), was established on July 19, 2011 and is engaged in the business of developing, selling and installing integrated photovoltaic systems and energy storage systems for residential and commercial customers in the United States and performs EPC services pursuant to our four commercial EPC agreements.” |
| Customer | SolarMax Financial | “Because we believe the high cost of buying and installing solar energy systems remains a major barrier for a typical residential customer, we had developed financing programs to enable customers who meet our credit standards to finance the purchase of our solar energy systems through SolarMax Financial.” |
| Partner | Longfellow BESS I | “On July 31, 2025, we entered into an EPC agreement with Longfellow, to develop a BESS facility.” |
| Partner | Naguabo BESS | “Pursuant to an EPC agreement with Naguabo BESS LLC, a Texas limited liability company ("Naguabo"), we will develop a BESS facility in Ceiba Municipality, Puerto Rico.” |
| Partner | Yabucoa BESS | “Pursuant to an EPC agreement with Yabucoa BESS LLC, a Texas limited liability company ("Yabucoa"), we will develop a BESS facility in Humacao Municipality, Puerto Rico.” |
| Partner | Navboot Holdco | “Pursuant to an EPC agreement with Navboot Holdco, LLC, a Delaware limited liability company ("Navboot"), we will develop a BESS facility in Corpus Christi, Texas.” |
| Related party | Changzhou Almaden | “Approximately 95% of our China revenue in 2019 was generated from Changzhou Almaden Co., Ltd., which was a related party that we refer to in this annual report as AMD.” |
| Related party | SMX Property | “On October 10, 2022, SMX Property, LLC, a related party and the former owner of our Riverside headquarters, made unsecured loans to us of $944,077 and $414,581, for which we issued its 8% promissory notes due October 10, 2025, with interest payable quarterly.” |
Quoted from the company's 10-K filed Apr 6, 2026.
SMXT company outlook (results filed Oct 9, 2026)
- “SolarMax has established a strong presence in southern California and, commencing in the third quarter of 2025, expanded its operations to include EPC services for EPC projects.”
Quoted word-for-word from the SEC 8-K results press release.
SMXT analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter | — | — | — | $0 | — |
| Current fiscal year | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |
Key Statistics (as of October 23, 2026 at 16:40 UTC)
| Price | USD 4.37 |
|---|---|
| Change | ▼ 3.32% (down) |
| Previous Close | USD 4.52 |
| Open | USD 4.38 |
| Day Range | USD 4.36 – 4.44 |
| 52-Week Range | USD 1.82 – 15.24 |
| Volume | 4,630 shares |
| Market Cap | $20.72M |
| Exchange | NCM |
Technical Analysis (SMXT)
Nexqual's technical model rates SMXT "STRONG BUY" based on 5 bullish and 0 bearish signals across 128 daily candles, as of October 23, 2026 at 16:40 UTC.
| Overall Signal | STRONG BUY |
|---|---|
| RSI (14) | 57.42 (neutral) |
| vs SMA50 | Above (USD 3.24) |
| MACD | 0.5 (positive) |
Analyst Ratings (SMXT)
Wall Street analysts rate SMXT "None", per Nexqual as of October 23, 2026 at 16:40 UTC.
| Consensus Rating | None |
|---|
Earnings (SMXT)
Source: Nexqual, October 23, 2026 at 16:40 UTC.
Financials & Fundamentals (SMXT)
| Total Revenue | $102.25M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +48.80% |
| Gross Margin | +7.50% |
| Operating Margin | -1.90% |
| Profit Margin | -7.92% |
| Current Ratio | 0.98 |
| Total Cash | $2.16M |
| Total Debt | $36.03M |
Source: Nexqual, October 23, 2026 at 16:40 UTC.
Financial Health Score (SMXT)
Nexqual rates SolarMax Technology, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 16:40 UTC.
| Growth | Strong — Revenue +49% YoY (latest Q) |
|---|---|
| Profitability | Critical — Gross margin 7%, operating -2% (last 12 months) |
| Balance Sheet | Mixed — $37M cash and investments vs $22M debt (Jun 2026, SEC), net cash |
| Cash Flow | Solid — Operating cash flow $498K (FY ended Dec 2025, 10-K) |
| Efficiency | Mixed — No data |
Ownership (SMXT)
| Insider Ownership | +31.07% |
|---|---|
| Institutional Ownership | +3.15% |
| Shares Outstanding | 4.74M |
| Float | 3.27M |
| Short % of Float | +0.69% |
Source: Nexqual, October 23, 2026 at 16:40 UTC.
Leadership (SMXT)
SolarMax Technology, Inc. is led by David Bingwen Hsu, Chairman & CEO, per Nexqual as of October 23, 2026 at 16:40 UTC.
| Chairman & CEO | David Bingwen Hsu |
|---|---|
| CFO & Secretary | Stephen P. Brown |
Major Backers & Investors (SMXT)
Notable institutional backers of SolarMax Technology, Inc. include Fidelity, Susquehanna International Group, LLP, UBS Group AG, according to Nexqual as of October 23, 2026 at 16:40 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Fidelity | 0.51% |
| Susquehanna International Group, LLP | 0.15% |
| UBS Group AG | 0.14% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 1.48% |
| Geode Capital | 0.66% |
| Northern Trust | 0.17% |
Source: Nexqual, October 23, 2026 at 16:40 UTC.
From SolarMax Technology, Inc.'s Latest SEC 10-K Filing (filed 2026-04-06)
Key Strengths & Strategy (as disclosed to the SEC)
- The U.S. solar market is expected to be valued at over $125 billion by 2030 as investment in large-scale utility projects and distributed generation continues to expand.
- Battery systems are available from a number of suppliers, including Tesla, Enphase and LG.
- Although we are not presently engaged in business in the PRC, our PRC subsidiaries have funds and accounts receivable in China, including the account receivable from SPIC, which was approximately $1.0 million at December 31, 2025 and approximately $1.0 million at March 15, 2026, and $5,000,000 of our cash in uninsured bank accounts of our China subsidiaries.
- Our technical staff provides end-to-end expertise in system design.
Partnerships
- Our agreement with our customers provides that we are not responsible for damage resulting from natural disasters, such as hurricanes, floods or other weather conditions.
- The dealer handles the sales process, and once the sales agreement with the customer is signed, we install the solar system pursuant to an installation agreement with customer.
Legal & Regulatory Risks (Item 1A, quoted)
- Changes in utility regulations and pricing could impair the market for our products.
- We may be subject to liability if private information that we receive is not secure or if we violate privacy laws and regulations.
- Changes in regulations relating to fossil fuel can impact the market for renewable energy, including solar.
- Compliance with occupational safety and health requirements and best practices can be costly, and noncompliance with such requirements may result in potentially significant monetary penalties, operational delays and adverse publicity.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| JKS | JinkoSolar Holding Company Limi | USD 8.21 | ▲ 0.86% |
| ARRY | Array Technologies, Inc. | USD 3.17 | ▼ 4.09% |
| CSIQ | Canadian Solar Inc. | USD 9.2 | ▼ 0.22% |
| SHLS | Shoals Technologies Group, Inc. | USD 7.55 | ▼ 2.39% |
| RUN | Sunrun Inc. | USD 7.54 | ▼ 2.14% |
| SEDG | SolarEdge Technologies, Inc. | USD 33.2 | ▲ 0.79% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 16:40 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt