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Primary reporting period: 2025-09-30 · Research updated Oct 13, 2026. A research update is not a new financial filing.
Who they are
PN Smart Energy Limited, through its subsidiaries, designs, develops, manufactures, and sells solar PV products and solar power system solution services in Mainland China, rest of Asia, and internationally. It operates through two segments, Solar PV Products and High Performance Computing Products. The company offers solar cables and connectors; and hybrid energy storage systems, such as hybrid inverters and energy storage batteries.
How they make money
PN Smart Energy Limited operates as an independent power producer (IPP) focused on developing clean power stations and energy infrastructure. Additionally, the company generates revenue by manufacturing and selling solar photovoltaic (PV) products, such as cables and connectors, and distributing high-performance computing (HPC) server hardware.
Products & services
Solar PV products including cables, connectors, and hybrid energy storage systems; HPC server hardware and accessories including mobile data centers and power supply units.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Customer types
Solar installation and application industriesSource
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
chip manufacturers — The company partners with various chip manufacturers to source components for its high-performance computing (HPC) server distribution business.Source
Strengths
Integrated manufacturing platform providing cash flow and credibility in the solar value chainSource
Risks
Operational risks associated with independent power production and reliance on long-duration power purchase agreementsSource
Overall investment score · Quality, value, risk and opportunity
32
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
38
Poor
Financial Strength
29
Business Quality / Moat
69
Management
25
Growth Quality
27
Risk / Durability
29
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
20
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
28/100
Building Historical Record
Model Score 28/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Asset quality scores strongly
What to watch
•Debt service risk
•M&A headline · Aug 12, 2026
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for PN
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•What is driving PN's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
•Is PN's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Does PN's balance between cash and debt leave enough flexibility if business conditions weaken?
•What specifically needs to improve for PN to reach sustainable profitability?
•What future growth or profitability would be needed to justify PN's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for PN
Detected from reported data — verify before acting.
Debt service risk
Interest coverage is low (~-12.3x). Earnings may be strained to cover interest expense.
M&A headline · Aug 12, 2026
PN Smart Energy Signs Framework Agreement to Acquire 9.9 MW Solar Portfolio — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Integrated manufacturing platform providing cash flow and credibility in the solar value chain.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Solar industry.
−Operational risks associated with independent power production and reliance on long-duration power purchase agreements.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdown
Wall Street Score
Weak32/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Weak
44
Debt Cost3.6%
Debt Reduction YoY-102.3%
Debt / Equity0.29x
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Revenue
Poor
29
Revenue YoY-46.4%
Revenue CAGR11.6%
Net Margin-15.2%
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Asset
Elite
99
Asset Growth YoY42.4%
Liquidation/Share$3.80
Net Assets/MCap2.05x
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Capital
Poor
0
Earnings Yield-143.0%
Buyback Yield0.0%
Debt Cost3.6%
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Management
Poor
25
ROIC-57.7%
ROE-117.2%
ROA-60.5%
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Moat
Fair
69
EPS Growth—
FCF/Share Growth39.3%
Rev/Share Growth22.3%
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Valuation
Poor
0
Intrinsic Value—
Value Reference—
MOS—
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Buffett
Weak
46
Revenue29
Moat69
Valuation0
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MOS
Poor
0
MOS %—
Value Reference—
Deep Discount Reference—
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Financial
Poor
36
Interest Coverage-12.3x
ROIC-57.7%
FCF Yield65.3%
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Master
Poor
28
Financial36
Valuation0
Debt44
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Resilience
Weak
40
Survival Years1.2 yrs
Current Ratio1.59x
FCF Margin3.7%
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Score Changes
2 historical score records available
Previous Score
36
Jul 24, 2026
Change
-3.4
points
Current Score
32
Oct 1, 2026
Category Changes
Revenue-19.0
Debt0
Assets0
Capital0
Management-15.0
Moat0
Valuation0
Buffett-6.1
PN decreased 3.4 points because Revenue declined by 19 points, Management declined by 15 points, Buffett declined by 6.1 points.
Negative Contributors
− Revenue declined by 19 points
− Management declined by 15 points
− Buffett declined by 6.1 points
Projected Score
Projected Score
31
Projected Change
-1.2 points
Preliminary comparable-period financial changes suggest decline of approximately 1.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailable
Current Price
$2.36
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Value Reference: —
Deep Discount Reference: —
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
Revenue
$33.9M
$63.3M
$49.9M
$50.8M
····
····
Cost of Revenue
$29.8M
$57.0M
$43.3M
$42.2M
····
····
Gross Profit
$4.1M
$6.3M
$6.5M
$8.6M
····
····
Research & Development
$1.1M
$1.7M
$1.9M
$607K
····
····
SG&A Expenses
$7.7M
$7.2M
$3.5M
$5.3M
····
····
Operating Expenses
$8.8M
$8.8M
$5.4M
$5.9M
····
····
EBITDA
-$4.4M
-$1.2M
$2.0M
$3.1M
····
····
Operating Income
-$4.7M
-$2.5M
$1.1M
$2.7M
····
····
Interest Expense
$60K
$208K
$203K
$89K
····
····
Income Before Tax
-$4.7M
-$2.2M
$1.3M
$2.6M
····
····
Income Tax Expense
$37K
$36K
$110K
$752K
····
····
Net Income
-$5.2M
-$2.7M
$471K
$1.1M
····
····
Basic EPS
$-12.08
$-2.20
$0.34
$0.81
····
····
Basic Shares
106K
1.26M
1.39M
1.39M
····
····
Diluted Shares
106K
1.26M
1.39M
1.39M
····
····
Upgrade to Premium for up to 10 annual periods, where available.
Estimated earnings date:A future estimated earnings date is not currently available.
Mar 31, 2026Q2FY2026
Revenue
$3.6M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$10.02
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-81.4%
Cash Change
-88.7%
Margin Change
-28.8 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Debt reduced
What Weakened
Margins contracted
Cash position declined
Potential Score Impact
Positive indicators included EPS growth, debt levels. Pressure indicators included revenue growth, cash levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 69.9%. EPS increased 38438.5%. Cash declined 88.7%. Total debt declined 81.4%. Net income margin declined by 28.8 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.