OESXNasdaqElectric Lighting & Wiring EquipmentFiscal year ends March 31
ORION ENERGY SYSTEMS, INC.
Financials through Q1 FY2027, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$22.80+0.28 (+1.24%)
Close on Oct 19, 2026
- Market cap
- $94.91M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
32.6%+6.8 pts over 5 years
Operating margin
-1.9%−7.8 pts over 5 years
Net margin
-3.7%−26.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.3% | +3.7% | -5.9% | +2.5% | |
| Gross profit | +38.8% | +17.1% | -1.4% | +5.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | -30.2% | 58.7% | -22.2% | |
| Return on assets | -18.5% | 31.6% | -6.1% | |
| Current ratio | 2.39 | 1.86 | 1.41 | |
| Debt to equity | 0.20 | 0.00 | 0.36 | |
| Net debt to EBITDA | 1.01× | -2.33× | 19.06× | |
| Interest coverage | -76.9× | – | – | |
| Inventory turnover | 3.5× | 5.1× | 5.4× | |
| Capex to revenue | 0.9% | 0.8% | 0.1% | |
| Diluted shares | 3M | 3M | 4M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Orion Energy Systems generated $14.17M from operations and spent $2.12M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$14.17M
Used
$2.12M
Capital expenditure$2.12M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-3.7%
×Asset turnover1.66×
×Equity multiplier3.65×
=Return on equity, FY2026-22.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -3.7% | 1.66× | 3.65× | -22.2% |
| FY2025 | -14.8% | 1.38× | 3.36× | -68.6% |
| FY2024 | -12.9% | 1.34× | 2.42× | -41.8% |
| FY2023 | -44.4% | 0.98× | 1.61× | -69.8% |
| FY2022 | 4.9% | 1.38× | 1.46× | 9.9% |
| FY2021 | 22.4% | 1.41× | 1.86× | 58.7% |
| FY2020 | 8.3% | 2.35× | 2.62× | 50.9% |
| FY2019 | -10.1% | 1.30× | 2.45× | -32.2% |
| FY2018 | -21.8% | 1.12× | 1.82× | -44.6% |
| FY2017 | -17.5% | 1.06× | 1.63× | -30.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
6of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$3.16M
- Cash generatingOperating cash flow above zero-$1.08M
- Return on assets improvedROA up on the prior year-18.7% → -6.0%
- Earnings backed by cashOperating cash flow above net income-$1.08M vs -$3.16M
- Less leverageLong-term debt to assets fell19.0% → 10.9%
- Better liquidityCurrent ratio rose1.32 → 1.41
- No dilutionShare count did not rise3M → 4M
- Gross margin improvedGross margin up on the prior year25.38% → 32.55%
- More efficientAsset turnover rose1.26 → 1.65