Solaris Energy Infrastructure, Inc. SEI
We provide modular and scalable equipment-based solutions for power generation, control and distribution, and the management of raw materials in oil and natural gas well completions. Headquartered in Houston, Texas, Solaris serves multiple U.S. end markets, including data center, energy, and other commercial and industrial sectors.
•Solaris Power Solutions: This segment delivers power generation, control, and distribution solutions. Our offerings support data center, energy, and other commercial and industrial sector customers by providing flexible, on-demand power infrastructure, including power control and distribution capabilities.
•Solaris Logistics Solutions: This segment designs and manufactures specialized equipment that enables the efficient management of raw materials used in the completion of oil and natural gas wells. Our equipment-based logistics services include field technician support, software solutions, and may also include last mile and mobilization services.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- Solaris Power Solutions
- Solaris Logistics Solutions
| Segment | FY2025 | FY2024 |
|---|---|---|
| Solaris Power Solutions | $333.5M | $38.6M |
| Solaris Logistics Solutions | $288.7M | $274.5M |
As the company reported it, from the “Business Segments - Summarized Financial Information by Business Segment (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $622.2M | $313.1M | $292.9M | $320.0M | $159.2M | $100.7M | $241.7M | $197.2M | $67.4M | $18.2M |
| R&D | — | — | — | — | — | $0 | $0 | $0 | $210.0K | $476.0K |
| SG&A | $61.7M | $35.6M | $27.0M | $23.1M | $19.3M | $16.5M | $18.6M | $16.8M | $14.3M | $2.1M |
| Total operating expenses | $486.8M | $260.3M | $243.0M | $278.2M | $159.6M | $162.9M | $133.8M | $97.9M | $41.9M | $15.3M |
| Operating income | $135.4M | $52.8M | $49.9M | $41.8M | -$387.0K | -$59.9M | $107.9M | $99.3M | $25.5M | $2.9M |
| Interest expense | $27.6M | $13.3M | $3.5M | $489.0K | $247.0K | $162.0K | $634.0K | $374.0K | $97.0K | $23.0K |
| Pre-tax income | $73.1M | $36.9M | $46.6M | $41.3M | -$634.0K | -$60.1M | $107.3M | $98.9M | $48.4M | $2.8M |
| Income tax | $14.7M | $8.0M | $7.8M | $7.8M | $626.0K | $9.0M | $16.9M | $13.0M | $33.7M | $43.0K |
| Net income | $30.2M | $15.8M | $24.3M | $21.2M | -$868.0K | -$29.3M | $52.0M | $42.4M | -$4.2M | $2.8M |
| EPS, basic | — | — | — | — | — | — | — | 1.60 | -0.34 | — |
| EPS, diluted | — | — | — | — | — | — | — | 1.59 | -0.34 | — |
| Shares, diluted (wtd. avg.) | — | — | — | — | — | — | — | 25,829 | 12,117 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $353.3M | $114.3M | $5.8M | $8.8M | $36.5M | $60.4M | $66.9M | $25.1M | $63.4M | $3.6M |
| Receivables | $103.1M | $71.8M | — | $64.5M | $29.5M | $18.2M | $38.6M | $39.7M | $13.0M | $4.5M |
| Inventory | $14.4M | $10.9M | $6.7M | $5.3M | $1.7M | $954.0K | $7.1M | $10.5M | $7.5M | $1.4M |
| Total current assets | $483.0M | $251.0M | $67.1M | $88.7M | $81.1M | $81.7M | $117.6M | $80.8M | $87.6M | $9.8M |
| Property, plant and equipment | — | — | — | — | — | — | $306.6M | $296.5M | $151.2M | $54.4M |
| Goodwill | $105.4M | $104.0M | $13.0M | $13.0M | $13.0M | $13.0M | $17.2M | $17.2M | $17.2M | $13.0M |
| Other intangibles | $59.8M | $71.5M | $702.0K | $1.4M | $2.2M | $3.0M | $3.8M | $4.5M | $5.3M | $36.0K |
| Total assets | $2.14B | $1.13B | $468.3M | $462.6M | $406.2M | $411.9M | $505.1M | $458.6M | $299.7M | $77.2M |
| Accounts payable | $77.5M | $21.1M | $12.7M | $25.9M | $9.9M | $6.9M | $3.8M | $9.1M | $5.0M | $705.0K |
| Short-term debt | $4.0M | $8.1M | — | — | — | — | — | — | — | — |
| Total current liabilities | $163.3M | $65.5M | $37.2M | $55.9M | $29.3M | $20.2M | $20.4M | $35.3M | $20.5M | $3.1M |
| Long-term debt | $180.0M | $307.6M | $30.0M | — | — | — | — | — | — | — |
| Total liabilities | $1.32B | $463.7M | $152.7M | $145.4M | $108.3M | $96.4M | $95.4M | $117.7M | $45.5M | $5.9M |
| Retained earnings | $26.1M | $17.7M | $17.3M | $12.8M | $5.9M | $20.5M | $74.2M | $35.5M | -$4.2M | $2.1M |
| Total equity | $564.3M | $355.6M | $315.6M | $317.1M | $297.9M | $315.5M | $409.7M | $340.9M | $254.2M | $71.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $209.1M | $59.4M | $89.4M | $68.0M | $16.5M | $43.9M | $114.9M | $116.4M | $26.7M | $4.5M |
| Depreciation and amortisation | $84.3M | $47.2M | $36.2M | $30.4M | $27.2M | $27.0M | $26.9M | $17.6M | $6.6M | $3.8M |
| Stock-based compensation | $23.4M | $10.6M | $7.7M | $6.1M | $5.2M | $4.7M | $4.5M | $3.9M | $3.7M | $127.0K |
| Capital expenditure | $646.8M | $188.4M | $64.4M | $81.4M | $19.6M | $4.7M | $34.9M | $161.1M | $93.9M | $10.9M |
| Investing cash flow | -$686.4M | -$305.0M | -$62.0M | -$79.5M | -$19.5M | -$3.8M | -$34.0M | -$160.5M | -$99.0M | -$10.9M |
| Financing cash flow | $670.7M | $399.7M | -$30.4M | -$16.1M | -$20.8M | -$46.6M | -$39.0M | $5.8M | $132.1M | $3.1M |
| Dividends paid | $21.8M | $14.6M | $14.1M | $13.8M | $13.4M | $12.4M | $12.8M | $2.8M | — | — |
| Buybacks | $0 | $8.1M | $26.4M | — | — | $26.7M | $3.2M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-012501.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18.2M | $67.4M | $197.2M | $241.7M | $100.7M | $159.2M | $320.0M | $292.9M | $313.1M | $622.2M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $2.8M | -$4.2M | $42.4M | $52.0M | -$29.3M | -$868.0K | $21.2M | $24.3M | $15.8M | $30.2M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Material agreement signed Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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