EFOINasdaqElectric Lighting & Wiring EquipmentFiscal year ends December 31
ENERGY FOCUS, INC/DE
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 11, 2026
$2.77+0.17 (+6.54%)
Close on Oct 19, 2026
- Market cap
- $17.53M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
18.9%−11.9 pts over 5 years
Operating margin
-28.8%−4.6 pts over 5 years
Net margin
-28.1%+7.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -26.7% | -15.8% | -26.7% | -25.1% | |
| Gross profit | -3.9% | – | -33.5% | -31.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -44.9% | -145.0% | -28.5% | |
| Return on assets | -37.2% | -49.6% | -18.7% | |
| Current ratio | 6.61 | 1.47 | 5.04 | |
| Debt to equity | – | 0.00 | – | |
| Interest coverage | – | -8.5× | – | |
| Inventory turnover | 2.7× | 2.0× | 0.9× | |
| Capex to revenue | 5.2% | 1.3% | 1.5% | |
| Diluted shares | 0M | 0M | 6M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Energy Focus generated $21.61M from operations and spent $626.00K on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$21.61M
Used
$626.00K
Capital expenditure$626.00K100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-28.1%
×Asset turnover0.66×
×Equity multiplier1.53×
=Return on equity, FY2025-28.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -28.1% | 0.66× | 1.53× | -28.5% |
| FY2024 | -32.6% | 0.61× | 2.65× | -53.0% |
| FY2023 | -75.1% | 0.61× | 7.26× | -333.6% |
| FY2022 | -172.2% | 0.52× | 3.99× | -358.7% |
| FY2021 | -79.9% | 0.74× | 2.56× | -150.7% |
| FY2020 | -35.5% | 1.39× | 2.93× | -145.0% |
| FY2019 | -58.0% | 0.84× | 2.01× | -98.0% |
| FY2018 | -50.3% | 0.89× | 1.34× | -60.1% |
| FY2017 | -56.8% | 0.69× | 1.16× | -45.8% |
| FY2016 | -54.5% | 0.68× | 1.20× | -44.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$1.00M
- Cash generatingOperating cash flow above zero-$1.40M
- Return on assets improvedROA up on the prior year-15.5% → -17.8%
- Earnings backed by cashOperating cash flow above net income-$1.40M vs -$1.00M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.11 → 5.04
- No dilutionShare count did not rise5M → 6M
- Gross margin improvedGross margin up on the prior year14.38% → 18.88%
- More efficientAsset turnover rose0.48 → 0.63