Solaris Energy Infrastructure Inc. (SEI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.31	$0.39	+25.8%	—	$219.4M	—
Q1 26	$0.26	$0.44	+69.2%	—	$196.2M	—
Q4 25	$0.27	$0.35	+29.6%	—	$179.7M	—
Q3 25	$0.25	$0.32	+28.0%	—	$166.8M	—
Q2 25	$0.24	$0.34	+41.7%	—	$149.3M	—
Q1 25	$0.12	$0.2	+66.7%	—	$126.3M	—
Q4 24	$0.13	$0.12	-7.7%	—	$96.3M	—
Q3 24	$0.14	$0.08	-42.9%	—	$75M	—
Q2 24	$0.11	$0.13	+18.2%	—	$73.9M	—
Q1 24	$0.12	$0.16	+33.3%	—	$67.9M	—
Q4 23	$0.16	$0.15	-6.3%	—	$63.3M	—
Q3 23	$0.22	$0.19	-13.6%	—	$69.7M	—
Q2 23	$0.21	$0.25	+19.0%	—	$77.2M	—
Q1 23	$0.2	$0.24	+20.0%	—	$82.7M	—
Q4 22	$0.22	$0.22	0.0%	—	$84.1M	—
Q3 22	$0.23	$0.24	+4.3%	—	$92.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.69	—	—	$622.2M	—
FY24	—	$0.51	—	—	$313.1M	—
FY23	—	$0.78	—	—	$292.9M	—
FY22	—	$0.64	—	—	$320M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$18.2M	$67.4M	$197.2M	$241.7M	$103M	$159.2M	$320M	$292.9M	$313.1M	$622.2M
YoY change	+27.8%	+271.2%	+192.6%	+22.6%	-57.4%	+54.6%	+101%	-8.46%	+6.88%	+98.7%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	18.2M	67.4M	197.2M	241.7M	103M	159.2M	320M	292.9M	313.1M	622.2M
Cost of revenue	10.1M	23.5M	79.3M	114.6M	92.8M	142.7M	250.2M	214M	232.1M	421.1M
Gross profit	8M	43.9M	117.9M	127.1M	10.2M	16.5M	69.8M	78.9M	81M	201.1M
Gross margin	44.2%	65.1%	59.8%	52.6%	9.9%	10.4%	21.8%	26.9%	25.9%	32.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	5.2M	14.3M	16.8M	18.6M	16.5M	19.3M	23.1M	27M	35.6M	61.7M
Operating expenses	5.2M	18.4M	18.6M	19.2M	22.3M	16.9M	24.9M	27.6M	38.1M	65.7M
Operating income	2.9M	25.5M	99.3M	107.9M	-12.1M	-387K	41.8M	51.3M	45.4M	135.4M
Operating margin	15.8%	37.8%	50.3%	44.7%	-11.7%	-0.24%	13.1%	17.5%	14.5%	21.8%
Non-operating income, net	8K	23M	—	—	-47.8M	—	—	-1.4M	3.4M	-41.5M
Pretax income	2.8M	48.4M	98.9M	107.3M	-60.1M	-634K	41.3M	46.6M	36.9M	73.1M
Income tax	43K	33.7M	13M	16.9M	-9M	626K	7.8M	7.8M	8M	14.7M
Net income	2.8M	14.7M	86M	90.4M	-51.1M	-1.3M	33.5M	38.8M	28.9M	58.4M
Net margin	15.4%	21.8%	43.6%	37.4%	-49.6%	-0.79%	10.5%	13.2%	9.24%	9.39%
EBITDA	6.7M	32.1M	117.7M	134.9M	14.9M	26.8M	72.2M	87.5M	92.6M	226.4M
EPS	0	-0.34	1.6	1.69	-1.03	-0.04	0.64	0.78	0.51	0.69
Diluted EPS	0	-0.34	1.59	1.69	-1.03	-0.04	0.64	0.78	0.5	0.66

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	69.7M	63.3M	67.9M	73.9M	75M	96.3M	126.3M	149.3M	166.8M	179.7M	196.2M	219.4M
Cost of revenue	51.3M	46.4M	49.8M	55.7M	57.9M	68.7M	87.8M	97.6M	111.2M	124.5M	123.5M	132.6M
Gross profit	18.4M	17M	18.1M	18.2M	17.1M	27.6M	38.6M	51.7M	55.7M	55.2M	72.7M	86.8M
Gross margin	26.4%	26.8%	26.6%	24.6%	22.8%	28.6%	30.5%	34.6%	33.4%	30.7%	37.1%	39.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	6.4M	7.2M	8M	8.3M	8.8M	10.6M	15.3M	14.9M	15.5M	15.9M	20.9M	30M
Operating expenses	7M	7.7M	8.1M	8.8M	11.8M	9.3M	16.5M	16.1M	17.8M	15.3M	22.2M	30.2M
Operating income	11.4M	9.2M	10M	11.9M	5.3M	18.3M	22.1M	35.6M	37.9M	39.8M	50.6M	56.5M
Operating margin	16.4%	14.6%	14.7%	16%	7.02%	19%	17.5%	23.8%	22.7%	22.2%	25.8%	25.8%
Non-operating income, net	-1.4M	0	—	—	-4.1M	7.5M	—	—	—	—	-1.3M	-14.8M
Pretax income	8.9M	8.3M	9.2M	11.2M	-1.8M	18.3M	16.9M	30.1M	28.9M	-2.8M	47.3M	30.2M
Income tax	1.3M	1.4M	1.9M	1.3M	460K	4.3M	3.9M	6M	4.1M	743K	15.2M	5M
Net income	7.6M	7M	7.3M	9.8M	-2.2M	14M	13M	24.1M	24.8M	-3.5M	32.1M	25.2M
Net margin	11%	11%	10.8%	13.3%	-2.95%	14.5%	10.3%	16.2%	14.9%	-1.95%	16.3%	11.5%
EBITDA	20.6M	18.8M	19.9M	21.4M	16.3M	35M	42.1M	53.9M	60.3M	70.1M	78.1M	96M
EPS	0.16	0.14	0.14	0.2	-0.04	0.2	0.14	0.3	0.32	-0.04	0.4	0.34
Diluted EPS	0.16	0.14	0.14	0.2	-0.04	0.19	0.14	0.3	0.31	-0.04	0.32	0.26

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	235.4M	201.6M	312.6M	236.4M	827.8M	—	7B
Enterprise value	—	—	—	—	183.2M	172.7M	324.2M	278.3M	1B	—	6.6B
Shares outstanding	10.1M	12.1M	25.7M	30.1M	28.9M	30.8M	31.5M	29.7M	28.8M	41.9M	41.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	9.33	6.1	28.6	—	89.8
P/S	—	—	—	—	2.29	1.27	0.98	0.81	2.64	—	9.37
P/B	—	—	—	—	0.75	0.68	0.99	0.75	1.24	—	4.94
EV/EBITDA	—	—	—	—	12.3	6.44	4.49	3.18	11.3	—	24.5
EV/Sales	—	—	—	—	1.78	1.08	1.01	0.95	3.33	—	8.69
Earnings yield	—	—	—	—	—	—	10.7%	16.4%	3.49%	—	1.11%
FCF yield	—	—	—	—	16.7%	-1.57%	-4.29%	10.8%	-15.6%	—	-11.6%
PEG	—	—	—	—	—	—	—	—	—	—	6.74

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	44.2%	65.1%	59.8%	52.6%	9.9%	10.4%	21.8%	26.9%	25.9%	32.3%	39.5%
Operating margin	15.8%	37.8%	50.3%	44.7%	-11.7%	-0.24%	13.1%	17.5%	14.5%	21.8%	26.5%
Net margin	15.4%	21.8%	43.6%	37.4%	-49.6%	-0.79%	10.5%	13.2%	9.24%	9.39%	7.19%
ROE	3.93%	5.77%	25.2%	22.1%	-16.2%	-0.42%	10.6%	12.3%	4.34%	7.06%	8.1%
ROA	3.63%	4.9%	18.7%	17.9%	-12.4%	-0.31%	7.24%	8.28%	2.58%	2.73%	4.08%
ROIC	3.98%	4.04%	26.2%	25.9%	-4.58%	-0.14%	10.3%	11.9%	4.03%	6.97%	4.92%
Return on tangible assets	5.48%	5.76%	20.7%	19.5%	-13.4%	-0.34%	7.73%	8.79%	3.75%	3.22%	2.03%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.2	4.27	2.29	5.77	4.04	2.77	1.59	1.8	3.83	2.96	4.12
Quick ratio	2.76	3.9	1.99	5.42	4	2.71	1.49	1.63	3.66	2.87	4.03
Debt / equity	0.04	0	0.04	0.02	0.03	0.03	0.06	0.15	0.49	1.3	2.17
Debt / assets	0.04	0	0.03	0.02	0.02	0.02	0.04	0.1	0.29	0.5	0.6
Net debt / EBITDA	-0.08	-1.97	-0.1	-0.43	-3.49	-1.08	0.16	0.48	2.32	3.21	5.55
Interest coverage	124.4	262.5	265.5	170.2	-369.8	-1.57	85.5	15.1	4.13	3.65	4.12
Effective tax rate	1.51%	69.7%	13.1%	15.8%	0%	0%	18.9%	16.8%	21.7%	20.1%	24.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	1.8	5.56	7.68	8.02	3.56	5.17	10.2	9.87	10.9	14.9	14.9
EPS (basic)	0	-0.34	1.6	1.69	-1.03	-0.04	0.64	0.78	0.51	0.69	0.69
EPS (diluted)	0	-0.34	1.59	1.69	-1.03	-0.04	0.64	0.78	0.5	0.66	0.79
Book value per share	7.06	21	13.3	13.6	10.9	9.68	10.1	10.6	23.2	19.8	14.4
FCF per share	-0.64	-5.55	-1.74	2.65	1.36	-0.1	-0.43	0.86	-4.49	-10.5	-9.22
Cash per share	0.35	5.23	0.98	2.22	2.09	1.19	0.28	0.2	3.97	8.44	12.5
Capex per share	1.08	7.75	6.27	1.16	0.16	0.64	2.59	2.17	6.55	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	60%	139.3%	81.7%	14.4%	4.53%	12.3%	25.4%	22%	60.1%	—	—
Capex / operating cash flow	270.5%	396.3%	141.2%	32.4%	-56.2%	108.8%	153.9%	70.8%	303.8%	—	—
Payout ratio	0%	175.9%	5.48%	21.3%	-37.5%	-1.1K%	41.2%	36.3%	50.5%	37.3%	60.8%
Dividend yield	—	—	—	—	8.15%	6.72%	4.42%	5.95%	1.76%	—	0.69%

Yield

0.69%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.12

ex-dividend Sep 15, 2026

Payout ratio

61%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.12
Jun 2, 2026	$0.12
Mar 10, 2026	$0.12
Dec 8, 2025	$0.12
Sep 16, 2025	$0.12
Jun 3, 2025	$0.12
Mar 11, 2025	$0.12
Dec 6, 2024	$0.12

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$69.7M	$63.3M	$67.9M	$73.9M	$75M	$96.3M	$126.3M	$149.3M	$166.8M	$179.7M	$196.2M	$219.4M
YoY change	-24.5%	-24.6%	-17.9%	-4.3%	+7.67%	+52%	+86.1%	+102.1%	+122.4%	+86.6%	+55.3%	+46.9%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.6M	63.4M	25.1M	66.9M	60.4M	36.5M	8.8M	5.8M	114.3M	353.3M
Receivables	4.5M	13M	39.7M	38.6M	18.2M	33.1M	69.5M	47.3M	71.8M	103.1M
Inventory	1.4M	7.5M	10.5M	7.1M	954K	1.7M	5.3M	6.7M	10.9M	14.4M
Total current assets	9.8M	87.6M	80.8M	117.6M	81.7M	81.1M	88.7M	67.1M	251M	483M
Property, plant & equipment	52.6M	147.9M	292.3M	310.1M	246.3M	239.8M	297.6M	331M	643.8M	1.4B
Goodwill & intangibles	26.1M	45.1M	43.6M	42M	32M	30.4M	28.9M	27.4M	351M	330.3M
Total assets	77.2M	299.7M	458.6M	505.1M	411.9M	406.2M	462.6M	468.3M	1.1B	2.1B
Accounts payable	705K	5M	9.1M	3.8M	6.9M	9.9M	25.9M	12.7M	21.1M	77.5M
Short-term debt	226K	33K	35K	626K	677K	748K	2.8M	3.8M	12M	8.3M
Total current liabilities	3.1M	20.5M	35.3M	20.4M	20.2M	29.3M	55.9M	37.2M	65.5M	163.3M
Long-term debt	2.8M	179K	13.2M	8M	7.5M	6.8M	17.6M	43.9M	316.8M	1.1B
Total liabilities	5.9M	45.5M	117.7M	95.4M	96.4M	108.3M	145.4M	152.7M	456.2M	1.3B
Shareholders' equity	71.3M	254.2M	340.9M	409.7M	315.5M	297.9M	317.1M	315.6M	666.7M	827.3M
Total debt	3M	212K	13.2M	8.6M	8.2M	7.5M	20.5M	47.8M	328.8M	1.1B
Net debt	-527K	-63.2M	-11.9M	-58.3M	-52.2M	-29M	11.6M	42M	214.6M	725.6M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	106.7M	353.3M	344.5M	824.1M
Receivables	—	—	—	—	—	—	—	—	130.4M	103.1M	148.3M	210M
Inventory	—	—	—	—	—	—	—	—	12.4M	14.4M	18.1M	25.1M
Total current assets	—	—	—	—	—	—	—	—	261.6M	483M	520.8M	1.1B
Property, plant & equipment	—	—	—	—	—	—	—	—	1B	1.4B	2.2B	2.8B
Goodwill & intangibles	—	—	—	—	—	—	—	—	338.3M	330.3M	356.1M	349.1M
Total assets	—	—	—	—	—	—	—	—	1.6B	2.1B	3B	4.2B
Accounts payable	—	—	—	—	—	—	—	—	42.6M	77.5M	64.6M	167.6M
Short-term debt	—	—	—	—	—	—	—	—	21.6M	8.3M	325M	17.4M
Total current liabilities	—	—	—	—	—	—	—	—	109.2M	163.3M	468.1M	259.3M
Long-term debt	—	—	—	—	—	—	—	—	523.7M	1.1B	1.3B	2.5B
Total liabilities	—	—	—	—	—	—	—	—	708.1M	1.3B	1.9B	3.1B
Shareholders' equity	—	—	—	—	—	—	—	—	859M	827.3M	1.1B	1.2B
Total debt	—	—	—	—	—	—	—	—	545.3M	1.1B	1.6B	2.5B
Net debt	—	—	—	—	—	—	—	—	438.6M	725.6M	1.3B	1.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	2.8M	14.7M	86M	90.4M	-51.1M	-1.3M	33.5M	38.8M	28.9M	58.4M
Depreciation & amortization	3.8M	6.6M	18.4M	26.9M	27M	27.2M	30.4M	36.2M	47.2M	84.3M
Stock-based compensation	127K	3.7M	3.9M	4.5M	4.7M	5.2M	6.1M	7.7M	10.6M	23.4M
Change in working capital	-2.7M	-11.8M	-7.3M	-30.9M	20.2M	-13.3M	-24.1M	2.9M	-29.4M	-19.2M
Operating cash flow	4M	23.7M	114.1M	107.6M	-8.3M	18.1M	52.9M	91M	62M	209.1M
Capital expenditure	-10.9M	-93.9M	-161.1M	-34.9M	-4.7M	-19.6M	-81.4M	-64.4M	-188.3M	—
Investing cash flow	-10.9M	-98.9M	-160.5M	-34M	-3.8M	-19.5M	-79.5M	-62M	-305M	-43M
Dividends paid	0	-25.8M	-4.7M	-19.3M	-19.2M	-13.6M	-13.8M	-14.1M	-14.6M	-21.8M
Share repurchases	0	0	-1.1M	-4.4M	-27.2M	0	0	-26.4M	-9.8M	0
Financing cash flow	3.1M	126.6M	4.9M	-52.3M	-46.7M	-20.8M	-16.1M	-30.9M	399.7M	701.5M
Net change in cash	-3.8M	51.4M	-41.5M	21.2M	-58.7M	-22.3M	-42.8M	-1.9M	156.7M	867.6M
Free cash flow	-6.4M	-67.3M	-44.7M	80M	39.2M	-3.2M	-13.4M	25.5M	-129.1M	-437.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	24.8M	-3.5M	32.1M	25.2M
Depreciation & amortization	—	—	—	—	—	—	—	—	22.4M	23.5M	24.8M	39.5M
Stock-based compensation	—	—	—	—	—	—	—	—	5.3M	5.9M	6.7M	11.8M
Change in working capital	—	—	—	—	—	—	—	—	-2.4M	25M	4.5M	69M
Operating cash flow	—	—	—	—	—	—	—	—	63.3M	95.9M	79M	186.5M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	-22.3M	-3.2M	-111.2M	-4.1M
Dividends paid	—	—	—	—	—	—	—	—	-5.8M	-6.4M	-6.9M	-7.5M
Share repurchases	—	—	—	—	—	—	—	—	-258K	10.5M	-14.3M	-409K
Financing cash flow	—	—	—	—	—	—	—	—	-10.7M	432.6M	371.7M	899M
Net change in cash	—	—	—	—	—	—	—	—	30.3M	525.4M	339.5M	1.1B
Free cash flow	3.9M	16.3M	13.5M	18.2M	-47.2M	-113.6M	-118.6M	-160.9M	462K	-158.6M	-264.3M	-305.4M

Solaris Energy Infrastructure Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement