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Pioneer Pwr Solutions Inc Financials

PPSI
Source SEC Filings (10-K/10-Q) Updated Apr 8, 2026 Currency USD FYE April

This page shows Pioneer Pwr Solutions Inc (PPSI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 44 / 100
Financial Profile 44/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

Pioneer Pwr Solutions Inc has an operating margin of -23.9%, meaning the company retains $-24 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -22.9% the prior year.

Growth
68

Pioneer Pwr Solutions Inc's revenue surged 20.8% year-over-year to $27.6M, reflecting rapid business expansion. This strong growth earns a score of 68/100.

Leverage
98

Pioneer Pwr Solutions Inc carries a low D/E ratio of 0.21, meaning only $0.21 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
100

With a current ratio of 5.23, Pioneer Pwr Solutions Inc holds $5.23 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow
0

While Pioneer Pwr Solutions Inc generated -$5.8M in operating cash flow, capex of $2.7M consumed most of it, leaving -$8.5M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns
0

Pioneer Pwr Solutions Inc generates a -20.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 89.9% the prior year.

Piotroski F-Score Neutral
4/9

Pioneer Pwr Solutions Inc passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality
0.97x

For every $1 of reported earnings, Pioneer Pwr Solutions Inc generates $0.97 in operating cash flow (-$5.8M OCF vs -$6.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue
$27.6M
YoY+20.8%
5Y CAGR+7.2%
10Y CAGR-12.6%

Pioneer Pwr Solutions Inc generated $27.6M in revenue in fiscal year 2025. This represents an increase of 20.8% from the prior year.

EBITDA
-$5.4M
YoY-23.3%

Pioneer Pwr Solutions Inc's EBITDA was -$5.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 23.3% from the prior year.

Net Income
-$6.0M
YoY-118.8%

Pioneer Pwr Solutions Inc reported -$6.0M in net income in fiscal year 2025. This represents a decrease of 118.8% from the prior year.

EPS (Diluted)
$-0.54
YoY-118.6%

Pioneer Pwr Solutions Inc earned $-0.54 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 118.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$8.5M
YoY+14.8%

Pioneer Pwr Solutions Inc generated -$8.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 14.8% from the prior year.

Cash & Debt
$15.0M
YoY-64.1%
5Y CAGR+14.6%
10Y CAGR+36.9%

Pioneer Pwr Solutions Inc held $15.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
11M
YoY-0.2%
5Y CAGR+4.9%
10Y CAGR+2.5%

Pioneer Pwr Solutions Inc had 11M shares outstanding in fiscal year 2025. This represents a decrease of 0.2% from the prior year.

Margins & Returns

Gross Margin
12.4%
YoY-11.7pp
5Y CAGR+7.9pp
10Y CAGR-7.7pp

Pioneer Pwr Solutions Inc's gross margin was 12.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 11.7 percentage points from the prior year.

Operating Margin
-23.9%
YoY-0.9pp
5Y CAGR-1.9pp
10Y CAGR-18.9pp

Pioneer Pwr Solutions Inc's operating margin was -23.9% in fiscal year 2025, reflecting core business profitability. This is down 0.9 percentage points from the prior year.

Net Margin
-21.7%
YoY-160.9pp
5Y CAGR-6.4pp
10Y CAGR-16.2pp

Pioneer Pwr Solutions Inc's net profit margin was -21.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 160.9 percentage points from the prior year.

Return on Equity
-20.5%
YoY-110.4pp
5Y CAGR+1.1pp
10Y CAGR+1.0pp

Pioneer Pwr Solutions Inc's ROE was -20.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 110.4 percentage points from the prior year.

Capital Allocation

R&D Spending
$875K
YoY-16.7%

Pioneer Pwr Solutions Inc invested $875K in research and development in fiscal year 2025. This represents a decrease of 16.7% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$2.7M
YoY-28.8%
10Y CAGR+9.8%

Pioneer Pwr Solutions Inc invested $2.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 28.8% from the prior year.

PPSI Income Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Revenue $6.9M-17.7% $8.4M+24.2% $6.7M-30.9% $9.8M+52.0% $6.4M+89.0% $3.4M+2.4% $3.3M N/A
Cost of Revenue $6.2M-11.5% $7.1M+7.0% $6.6M-5.0% $6.9M+41.7% $4.9M+77.7% $2.8M-0.9% $2.8M N/A
Gross Profit $640K-51.3% $1.3M+787.8% $148K-94.7% $2.8M+85.0% $1.5M+137.4% $641K+19.8% $535K N/A
R&D Expenses $111K-79.2% $534K+567.5% $80K-76.8% $345K+34.8% $256K+7.6% $238K+12.8% $211K N/A
SG&A Expenses $2.0M-20.6% $2.5M+3.1% $2.4M-31.9% $3.5M+79.0% $2.0M-7.4% $2.1M+4.3% $2.0M N/A
Operating Income -$1.4M+15.3% -$1.7M+27.2% -$2.3M-118.6% -$1.1M-50.3% -$714K+58.8% -$1.7M-0.5% -$1.7M N/A
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $69K N/A N/A N/A N/A N/A N/A N/A
Net Income -$2.4M-77.0% -$1.3M-42.9% -$929K-102.6% $36.3M+3337.6% -$1.1M+50.9% -$2.3M-120.6% -$1.0M N/A
EPS (Diluted) $-0.21-75.0% $-0.12-33.3% $-0.09 N/A $-0.10+52.4% $-0.21-110.0% $-0.10 N/A

PPSI Balance Sheet

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Total Assets $37.6M-3.9% $39.1M-17.6% $47.5M-28.0% $66.0M+64.6% $40.1M+5.3% $38.0M-3.3% $39.3M+19.0% $33.0M
Current Assets $29.0M-0.9% $29.3M-24.1% $38.6M-31.8% $56.7M+80.1% $31.5M-4.7% $33.0M-3.8% $34.3M+24.0% $27.7M
Cash & Equivalents $17.3M-3.7% $18.0M-30.3% $25.8M-37.9% $41.6M+1251.4% $3.1M-52.7% $6.5M+4.6% $6.2M+73.8% $3.6M
Inventory $6.8M+17.2% $5.8M-10.4% $6.5M+6.4% $6.1M-62.3% $16.1M+27.2% $12.7M+32.0% $9.6M+211.6% $3.1M
Accounts Receivable $4.6M-5.7% $4.9M-8.6% $5.3M-31.7% $7.8M-20.1% $9.8M+66.1% $5.9M-47.3% $11.2M+818.4% $1.2M
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $6.9M+13.2% $6.1M-53.1% $13.0M-57.5% $30.5M+20.3% $25.4M+14.1% $22.2M+4.7% $21.2M+13.0% $18.8M
Current Liabilities $6.3M+16.1% $5.4M-56.6% $12.5M-58.4% $30.0M+34.1% $22.4M+2.2% $21.9M+5.1% $20.8M+13.9% $18.3M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $30.7M-7.1% $33.0M-4.3% $34.5M-2.6% $35.4M+141.3% $14.7M-7.0% $15.8M-12.6% $18.1M+27.0% $14.2M
Retained Earnings -$4.6M-104.1% -$2.3M-142.9% -$929K N/A -$24.1M-4.9% -$22.9M-11.0% -$20.7M-5.3% -$19.6M

PPSI Cash Flow Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Operating Cash Flow -$817K+85.1% -$5.5M-463.8% $1.5M+171.7% -$2.1M+23.5% -$2.7M-579.7% $571K+129.3% -$1.9M+46.8% -$3.7M
Capital Expenditures $792K+446.2% $145K-75.6% $595K-76.0% $2.5M+274.4% $663K+65.3% $401K+88.3% $213K+41.1% $151K
Free Cash Flow -$1.6M+71.3% -$5.6M-718.5% $907K+119.8% -$4.6M-34.5% -$3.4M-2101.2% $170K+107.9% -$2.2M+43.3% -$3.8M
Investing Cash Flow $189K+108.1% -$2.3M-294.1% -$595K-101.5% $40.2M+6156.3% -$663K-65.3% -$401K-88.3% -$213K-41.1% -$151K
Financing Cash Flow -$35K-12.9% -$31K+99.8% -$16.7M-3555.3% $483K+1710.0% -$30K-126.1% $115K-97.6% $4.8M+2756.4% -$181K
Dividends Paid $0 N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

PPSI Financial Ratios

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Gross Margin 9.3%-6.4pp 15.7%+13.5pp 2.2%-26.7pp 28.9%+5.2pp 23.7%+4.8pp 18.9%+2.7pp 16.1% N/A
Operating Margin -21.0%-0.6pp -20.4%+14.4pp -34.8%-23.8pp -11.0%+0.1pp -11.1%+40.0pp -51.1%+1.0pp -52.1% N/A
Net Margin -34.1%-18.3pp -15.9%-2.1pp -13.8%-385.9pp 372.1%+389.6pp -17.5%+49.8pp -67.3%-36.0pp -31.2% N/A
Return on Equity -7.7%-3.6pp -4.0%-1.3pp -2.7%-105.1pp 102.4%+110.1pp -7.6%+6.8pp -14.5%-8.7pp -5.7% N/A
Return on Assets -6.3%-2.8pp -3.4%-1.4pp -2.0%-57.0pp 55.0%+57.8pp -2.8%+3.2pp -6.0%-3.4pp -2.6% N/A
Current Ratio 4.62-0.8 5.42+2.3 3.10+1.2 1.89+0.5 1.41-0.1 1.51-0.1 1.65+0.1 1.52
Debt-to-Equity 0.22+0.0 0.18-0.2 0.38-0.5 0.86-0.9 1.73+0.3 1.41+0.2 1.18-0.1 1.32
FCF Margin -23.4%+43.7pp -67.0%-80.5pp 13.5%+60.4pp -46.9%+6.1pp -53.0%-58.0pp 5.0%+70.3pp -65.3% N/A

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Frequently Asked Questions

Pioneer Pwr Solutions Inc (PPSI) reported $27.6M in total revenue for fiscal year 2025. This represents a 20.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Pioneer Pwr Solutions Inc (PPSI) revenue grew by 20.8% year-over-year, from $22.9M to $27.6M in fiscal year 2025.

No, Pioneer Pwr Solutions Inc (PPSI) reported a net income of -$6.0M in fiscal year 2025, with a net profit margin of -21.7%.

Pioneer Pwr Solutions Inc (PPSI) reported diluted earnings per share of $-0.54 for fiscal year 2025. This represents a -118.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Pioneer Pwr Solutions Inc (PPSI) had EBITDA of -$5.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Pioneer Pwr Solutions Inc (PPSI) had a gross margin of 12.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Pioneer Pwr Solutions Inc (PPSI) had an operating margin of -23.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Pioneer Pwr Solutions Inc (PPSI) had a net profit margin of -21.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Pioneer Pwr Solutions Inc (PPSI) has a return on equity of -20.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Pioneer Pwr Solutions Inc (PPSI) generated -$8.5M in free cash flow during fiscal year 2025. This represents a 14.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Pioneer Pwr Solutions Inc (PPSI) generated -$5.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Pioneer Pwr Solutions Inc (PPSI) had $35.5M in total assets as of fiscal year 2025, including both current and long-term assets.

Pioneer Pwr Solutions Inc (PPSI) invested $2.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Pioneer Pwr Solutions Inc (PPSI) invested $875K in research and development during fiscal year 2025.

Pioneer Pwr Solutions Inc (PPSI) had 11M shares outstanding as of fiscal year 2025.

Pioneer Pwr Solutions Inc (PPSI) had a current ratio of 5.23 as of fiscal year 2025, which is generally considered healthy.

Pioneer Pwr Solutions Inc (PPSI) had a debt-to-equity ratio of 0.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Pioneer Pwr Solutions Inc (PPSI) had a return on assets of -16.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Pioneer Pwr Solutions Inc (PPSI) had $15.0M in cash against an annual operating cash burn of $5.8M. This gives an estimated cash runway of approximately 31 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Pioneer Pwr Solutions Inc (PPSI) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Pioneer Pwr Solutions Inc (PPSI) has an earnings quality ratio of 0.97x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Pioneer Pwr Solutions Inc (PPSI) scores 44 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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