NYSE : STEM
Stem, Inc. — Financial statements
Utilities · Utilities - Renewable · United States
Last price 2.22 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 21.37M
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Financial statements
Stem, Inc. (STEM) reported revenue of 148.03M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 148.03M | 156.27M | 144.58M | 461.51M | 362.98M | 127.37M |
| Cost of Revenue | 85.95M | 94.29M | 154.81M | 453.17M | 327.32M | 121.80M |
| Gross Profit | 62.08M | 61.98M | -10.22M | 8.35M | 35.66M | 5.57M |
| Selling, General & Admin | 63.01M | 68.69M | 124.94M | 126.30M | 119.31M | 61.60M |
| Research & Development | 27.01M | 35.30M | 51.28M | 56.51M | 38.30M | 22.72M |
| Operating Expenses | 90.02M | 103.99M | 176.22M | 182.80M | 157.61M | 84.32M |
| Operating Income | -27.94M | -42.01M | -186.45M | -174.46M | -121.95M | -78.75M |
| Interest Expense | -30.44M | -23.93M | -18.29M | -14.98M | -10.47M | -16.73M |
| Other Non Operating Income (Expenses) | 572.00K | -2.13M | -100.07M | -4.81M | 2.37M | 4.32M |
| EBT Excluding Unusual Items | -57.81M | -68.08M | -304.81M | -194.24M | -130.04M | -91.16M |
| Merger & Restructuring Charges | -6.10M | |||||
| Impairment of Goodwill | -547.15M | |||||
| Gain (Loss) on Sale of Investments | -664.00K | |||||
| Asset Writedown | -5.14M | -3.67M | -1.72M | -4.86M | -3.07M | -4.32M |
| Other Unusual Items | -10.00M | 210.05M | 59.12M | -5.06M | ||
| Pretax Income | -72.95M | 138.30M | -853.68M | -139.98M | -139.22M | -101.21M |
| Income Tax Expense | 128.00K | 536.00K | 332.00K | 433.00K | -15.16M | |
| Net Income | -73.08M | 137.76M | -854.01M | -140.41M | -124.05M | -101.21M |
| Net Income to Common | -73.08M | 137.76M | -854.01M | -140.41M | -124.05M | -101.21M |
| Shares Outstanding (Basic) | 8.61M | 8.34M | 8.07M | 7.78M | 7.67M | 5.28M |
| Shares Outstanding (Diluted) | 8.61M | 8.49M | 8.07M | 7.78M | 7.67M | 5.28M |
| EPS (Basic) | -8.48 | 16.52 | -105.80 | -18.05 | -16.17 | -19.18 |
| EPS (Diluted) | -8.48 | -9.18 | -105.80 | -18.05 | -16.17 | -19.18 |
| Free Cash Flow | 11.68M | 6.86M | -37.14M | -211.52M | -110.13M | -105.47M |
| Free Cash Flow Per Share | 1.35 | 0.81 | -4.60 | -27.19 | -14.36 | -19.98 |
| Gross Margin | 41.94% | 39.66% | -7.07% | 1.81% | 9.83% | 4.37% |
| Operating Margin | -18.87% | -26.89% | -128.95% | -37.80% | -33.60% | -61.83% |
| Profit Margin | -49.37% | 88.16% | -590.67% | -30.42% | -34.18% | -79.46% |
| Free Cash Flow Margin | 7.89% | 4.39% | -25.69% | -45.83% | -30.34% | -82.80% |
| EBITDA | 3.73M | -10.03M | -153.12M | -137.15M | -83.07M | -59.05M |
| EBITDA Margin | 2.52% | -6.42% | -105.91% | -29.72% | -22.89% | -46.36% |
| D&A For EBITDA | 31.66M | 31.98M | 33.32M | 37.31M | 38.88M | 19.70M |
| EBIT | -27.94M | -42.01M | -186.45M | -174.46M | -121.95M | -78.75M |
| EBIT Margin | -18.87% | -26.89% | -128.95% | -37.80% | -33.60% | -61.83% |
| Effective Tax Rate | 0.39% | |||||
| Revenue as Reported | 148.03M | 156.27M | 144.58M | 461.51M | 362.98M | 127.37M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 38.41M | 48.91M | 56.30M | 105.38M | 87.90M | 747.78M |
| Short-Term Investments | 8.22M | 162.07M | 173.01M | |||
| Cash & Short-Term Investments | 38.41M | 48.91M | 56.30M | 113.59M | 249.98M | 920.79M |
| Accounts Receivable | 33.22M | 35.66M | 53.12M | 298.60M | 218.13M | 61.70M |
| Other Receivables | 2.75M | 6.24M | 4.33M | 5.17M | 213.00K | |
| Receivables | 33.22M | 38.41M | 59.36M | 302.92M | 223.29M | 61.91M |
| Inventory | 6.12M | 4.59M | 10.92M | 26.66M | 8.37M | 22.72M |
| Prepaid Expenses | 4.71M | 5.77M | 5.97M | 5.68M | 3.14M | |
| Other Current Assets | 11.57M | 3.47M | 4.27M | 23.81M | 45.44M | 15.29M |
| Total Current Assets | 89.33M | 100.09M | 136.62M | 472.96M | 532.75M | 1.02B |
| Property, Plant & Equipment | 44.59M | 54.11M | 73.51M | 89.49M | 105.35M | 119.62M |
| Long-Term Investments | 2.27M | 2.25M | 2.09M | 1.97M | 1.92M | |
| Goodwill | 2.46M | 547.21M | 546.65M | 1.74M | ||
| Other Intangible Assets | 113.05M | 123.03M | 143.91M | 157.15M | 162.26M | 13.97M |
| Long-Term Accounts Receivable | 100.00K | 84.00K | 5.92M | 18.66M | 9.41M | |
| Long-Term Deferred Charges | 6.12M | 7.47M | 9.68M | 11.12M | 11.70M | 8.63M |
| Other Long-Term Assets | 24.13M | 21.83M | 65.47M | 58.30M | 51.80M | 22.09M |
| Total Assets | 279.77M | 308.89M | 437.36M | 1.36B | 1.42B | 1.19B |
| Accounts Payable | 14.47M | 10.31M | 30.15M | 78.28M | 83.83M | 28.27M |
| Accrued Expenses | 27.35M | 36.01M | 32.45M | 91.25M | 97.72M | 33.44M |
| Current Portion of Long-Term Debt | 13.15M | 13.79M | 16.52M | 14.84M | 15.72M | 15.28M |
| Current Portion of Leases | 3.00M | 2.76M | 2.95M | 2.57M | 1.24M | |
| Current Unearned Revenue | 44.38M | 43.62M | 43.26M | 54.26M | 64.58M | 9.43M |
| Other Current Liabilities | 8.17M | 3.83M | 3.67M | 9.51M | 2.57M | 314.00K |
| Total Current Liabilities | 107.52M | 110.56M | 128.80M | 251.08M | 267.00M | 87.97M |
| Long-Term Debt | 343.23M | 341.98M | 567.55M | 575.64M | 513.38M | 391.43M |
| Long-Term Leases | 10.07M | 9.86M | 13.34M | 10.46M | 10.96M | 12.18M |
| Long-Term Unearned Revenue | 81.63M | 85.25M | 85.90M | 88.65M | 73.76M | 28.29M |
| Other Long-Term Liabilities | 7.32M | 10.29M | 39.61M | 4.47M | 4.62M | 4.13M |
| Total Liabilities | 549.77M | 557.95M | 835.19M | 930.30M | 869.73M | 524.00M |
| Common Stock | 1.00K | 1.00K | 16.00K | 16.00K | 15.00K | 14.00K |
| Additional Paid-In Capital | 1.25B | 1.24B | 1.23B | 1.20B | 1.19B | 1.18B |
| Retained Earnings | -1.52B | -1.49B | -1.63B | -772.49M | -632.08M | -509.05M |
| Comprehensive Income & Other | -141.00K | 41.00K | 76.00K | -42.00K | -1.67M | 20.00K |
| Total Common Equity | -269.57M | -249.44M | -398.37M | 426.20M | 551.63M | 667.83M |
| Minority Interest | -426.00K | 383.00K | 541.00K | 485.00K | 541.00K | |
| Shareholders' Equity | -270.00M | -249.06M | -397.83M | 426.68M | 552.17M | 667.83M |
| Total Liabilities & Equity | 279.77M | 308.89M | 437.36M | 1.36B | 1.42B | 1.19B |
| Total Debt | 366.45M | 368.63M | 600.16M | 603.88M | 542.63M | 420.13M |
| Net Cash (Debt) | -328.04M | -319.71M | -543.87M | -490.29M | -292.66M | 500.65M |
| Net Cash Per Share | -38.08 | -37.66 | -67.38 | -63.03 | -38.15 | 94.86 |
| Filing Date Shares Outstanding | 9.63M | 8.52M | 8.21M | 7.89M | 7.73M | 7.67M |
| Total Common Shares Outstanding | 9.61M | 8.49M | 8.14M | 7.80M | 7.73M | 7.23M |
| Working Capital | -18.19M | -10.47M | 7.82M | 221.88M | 265.76M | 935.88M |
| Book Value Per Share | -28.06 | -29.38 | -48.94 | 54.66 | 71.39 | 92.32 |
| Tangible Book Value | -385.08M | -372.47M | -542.29M | -278.15M | -157.29M | 652.12M |
| Tangible Book Value Per Share | -40.08 | -43.87 | -66.62 | -35.68 | -20.36 | 90.15 |
| Machinery | 125.78M | 135.50M | 140.12M | 145.34M | 149.54M | 151.36M |
| Order Backlog | 21.30M | 20.90M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -73.08M | 137.76M | -854.01M | -140.41M | -124.05M | -101.21M |
| Depreciation & Amortization | 31.66M | 31.98M | 33.32M | 37.31M | 38.88M | 19.70M |
| Other Amortization | 13.20M | 13.20M | 11.90M | 9.20M | 6.80M | 5.00M |
| Loss (Gain) From Sale of Assets | 730.00K | 842.00K | 276.00K | |||
| Asset Writedown & Restructuring Costs | 30.62M | 30.12M | 564.38M | 4.86M | 3.07M | 4.32M |
| Loss (Gain) From Sale of Investments | -29.00K | -194.00K | -123.00K | 664.00K | ||
| Stock-Based Compensation | 8.01M | 10.22M | 18.47M | 45.11M | 28.66M | 22.73M |
| Provision & Write-off of Bad Debts | 1.52M | 3.05M | 3.98M | 1.45M | 3.59M | |
| Other Operating Activities | -33.13M | -250.68M | 125.58M | -47.14M | -10.87M | 7.07M |
| Change in Accounts Receivable | 8.07M | 17.73M | 133.06M | -80.89M | -155.82M | -48.12M |
| Change in Inventory | -1.52M | 6.33M | 2.77M | -18.29M | 18.61M | -1.88M |
| Change in Accounts Payable | 2.96M | -19.85M | -48.15M | -5.24M | 53.26M | 16.33M |
| Change in Unearned Revenue | -348.00K | -280.00K | -6.88M | 4.57M | 51.01M | -14.97M |
| Change in Other Net Operating Assets | 22.94M | 26.44M | -21.03M | -17.70M | -19.32M | -10.90M |
| Operating Cash Flow | 11.63M | 6.86M | -36.65M | -207.38M | -106.03M | -101.27M |
| Capital Expenditures | 48.00K | -492.00K | -4.14M | -4.10M | -4.20M | |
| Cash Acquisitions | -1.85M | -533.01M | ||||
| Sale (Purchase) of Intangibles | -4.53M | -6.60M | -11.28M | -14.10M | -16.77M | -5.97M |
| Investment in Securities | 8.25M | 155.81M | 9.50M | -175.06M | ||
| Investing Cash Flow | -4.48M | -6.60M | -3.52M | 135.73M | -544.37M | -185.23M |
| Long-Term Debt Issued | 4.75M | 240.00M | 1.52M | 472.89M | ||
| Long-Term Debt Repaid | -12.16M | -8.49M | -114.54M | -10.31M | -51.03M | |
| Net Debt Issued (Repaid) | -13.75M | -7.41M | -8.49M | 125.46M | -8.79M | 421.86M |
| Issuance of Common Stock | 5.63M | 276.00K | 1.28M | 148.53M | ||
| Repurchase of Common Stock | -2.30M | -12.62M | ||||
| Other Financing Activities | -1.00M | -158.00K | 56.00K | -35.50M | 541.00K | 469.32M |
| Financing Cash Flow | -9.12M | -7.56M | -8.44M | 90.24M | -9.27M | 1.03B |
| Foreign Exchange Rate Adjustments | -396.00K | -80.00K | 215.00K | -16.00K | -202.00K | 242.00K |
| Miscellaneous Cash Flow Adjustments | 1.00K | |||||
| Net Cash Flow | -2.38M | -7.38M | -48.39M | 18.57M | -659.88M | 740.84M |
| Free Cash Flow | 11.68M | 6.86M | -37.14M | -211.52M | -110.13M | -105.47M |
| Free Cash Flow Margin | 7.89% | 4.39% | -25.69% | -45.83% | -30.34% | -82.80% |
| Free Cash Flow Per Share | 1.35 | 0.81 | -4.60 | -27.19 | -14.36 | -19.98 |
| Levered Free Cash Flow | 16.71M | 20.98M | 79.24M | -137.01M | -31.75M | -85.69M |
| Unlevered Free Cash Flow | 35.74M | 35.94M | 90.68M | -127.65M | -25.21M | -75.24M |
| Cash Interest Paid | 23.53M | 14.57M | 16.20M | 14.59M | 6.41M | 10.19M |
| Cash Income Tax Paid | 481.00K | 481.00K | 680.00K | 235.00K | 285.00K | |
| Change in Working Capital | 32.10M | 30.37M | 59.77M | -117.55M | -52.26M | -59.54M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 21.37M | 126.27M | 98.14M | 604.88M | 1.38B | 2.74B |
| Enterprise Value | 349.41M | 450.65M | 621.17M | 1.09B | 1.63B | 2.27B |
| Last Close Price | 2.22 | 15.05 | 12.06 | 77.60 | 178.80 | 379.40 |
| PE Ratio | 0.92 | |||||
| PS Ratio | 0.14 | 0.81 | 0.68 | 1.31 | 3.81 | 21.52 |
| PB Ratio | -0.51 | -0.25 | 1.42 | 2.50 | 4.10 | |
| P/TBV Ratio | 4.20 | |||||
| P/FCF Ratio | 1.83 | 18.40 | ||||
| P/OCF Ratio | 1.84 | 18.40 | ||||
| EV/Sales Ratio | 2.36 | 2.88 | 4.30 | 2.35 | 4.49 | 17.81 |
| EV/FCF Ratio | 29.93 | 65.68 | ||||
| Debt / Equity Ratio | -1.36 | -1.48 | -1.51 | 1.42 | 0.98 | 0.63 |
| Debt / FCF Ratio | 31.39 | 53.73 | ||||
| Net Debt / Equity Ratio | -1.22 | -1.28 | -1.37 | 1.15 | 0.53 | -0.75 |
| Net Debt / EBITDA Ratio | 88.04 | -31.88 | -3.55 | -3.58 | -3.52 | 8.48 |
| Net Debt / FCF Ratio | 28.09 | 46.60 | -14.64 | -2.32 | -2.66 | 4.75 |
| Asset Turnover | 0.45 | 0.42 | 0.16 | 0.33 | 0.28 | 0.18 |
| Inventory Turnover | 16.03 | 12.16 | 8.24 | 25.87 | 21.05 | 5.59 |
| Quick Ratio | 0.67 | 0.79 | 0.90 | 1.66 | 1.77 | 11.17 |
| Current Ratio | 0.83 | 0.91 | 1.06 | 1.88 | 2.00 | 11.64 |
| Return on Equity (ROE) | -5,920.78% | -28.69% | -20.34% | -34.56% | ||
| Return on Assets (ROA) | -5.30% | -7.04% | -12.99% | -7.85% | -5.83% | -7.04% |
| Return on Invested Capital (ROIC) | -15.83% | -16.51% | -30.43% | -19.80% | -24.10% | -86.30% |
| Return on Capital Employed (ROCE) | -16.20% | -21.20% | -60.40% | -15.80% | -10.60% | -7.10% |
| Earnings Yield | -382.11% | 109.10% | -870.19% | -23.21% | -8.98% | -3.69% |
| FCF Yield | 54.63% | 5.43% | -37.85% | -34.97% | -7.97% | -3.85% |
| Buyback Yield / Dilution | -5.06% | -5.17% | -3.77% | -1.42% | -45.33% | -163.48% |