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
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.) | — | — | — | — | — | — | — | $25.8K | $12.1K | — |
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.
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