PPSINasdaqMiscellaneous Electrical Machinery, Equipment & SuppliesFiscal year ends December 31
PIONEER POWER SOLUTIONS, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 14, 2026
$2.70−0.01 (-0.37%)
Close on Oct 19, 2026
- Market cap
- $29.96M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
12.4%+7.9 pts over 5 years
Operating margin
-23.9%−1.9 pts over 5 years
Net margin
-21.7%−6.4 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 | +20.8% | +2.2% | +7.2% | -12.6% | |
| Gross profit | -37.9% | +6.6% | +31.2% | -16.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -4.0% | -19.5% | -18.5% | |
| Return on assets | -1.5% | -12.0% | -11.8% | |
| Current ratio | 1.06 | 2.52 | 5.23 | |
| Debt to equity | 0.36 | 0.10 | – | |
| Net debt to EBITDA | 1.91× | 1.51× | – | |
| Interest coverage | – | -476.0× | – | |
| Inventory turnover | 3.9× | 5.3× | 3.9× | |
| Capex to revenue | 0.7% | – | 9.7% | |
| Diluted shares | 9M | 9M | 11M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Pioneer Power Solutions generated $24.89M from operations and spent $28.39M on capital expenditure, dividends and share buybacks. 38% of that went back into the business.
Generated
$24.89M
Used
$28.39M
Capital expenditure$10.68M38%Dividends$17.71M62%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-21.7%
×Asset turnover0.54×
×Equity multiplier1.57×
=Return on equity, FY2025-18.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -21.7% | 0.54× | 1.57× | -18.5% |
| FY2024 | 139.2% | 0.46× | 1.99× | 128.3% |
| FY2023 | -17.1% | 0.32× | 2.33× | -12.9% |
| FY2022 | -20.9% | 0.82× | 1.82× | -31.2% |
| FY2021 | -11.8% | 0.74× | 1.47× | -13.0% |
| FY2020 | -15.3% | 0.78× | 1.62× | -19.5% |
| FY2019 | -5.0% | 0.41× | 3.51× | -7.2% |
| FY2018 | -28.1% | 0.27× | 4.98× | -38.4% |
| FY2017 | -8.1% | 1.51× | 3.47× | -42.2% |
| FY2016 | -1.1% | 1.38× | 2.69× | -4.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$6.00M
- Cash generatingOperating cash flow above zero-$5.82M
- Return on assets improvedROA up on the prior year96.5% → -9.1%
- Earnings backed by cashOperating cash flow above net income-$5.82M vs -$6.00M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.89 → 5.23
- No dilutionShare count did not rise11M → 11M
- Gross margin improvedGross margin up on the prior year24.10% → 12.40%
- More efficientAsset turnover rose0.69 → 0.42