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Side-by-side financial comparison of PIONEER POWER SOLUTIONS, INC. (PPSI) and Solid Power, Inc. (SLDP). Click either name above to swap in a different company.
PIONEER POWER SOLUTIONS, INC. is the larger business by last-quarter revenue ($5.6M vs $3.6M, roughly 1.6× Solid Power, Inc.). On growth, Solid Power, Inc. posted the faster year-over-year revenue change (-18.6% vs -42.3%). PIONEER POWER SOLUTIONS, INC. produced more free cash flow last quarter ($-2.2M vs $-23.0M). Over the past eight quarters, PIONEER POWER SOLUTIONS, INC.'s revenue compounded faster (30.3% CAGR vs -21.9%).
Caterpillar Energy Solutions GmbH, is a mechanical engineering company based in Mannheim, Baden-Württemberg, Germany. It was known as MWM GmbH Motoren-Werke Mannheim (MWM) until November 2013. In 2009 the company was the third-largest producer by revenue of gas and diesel engines.
Solid Energy was the largest coal mining company in New Zealand and is a state owned enterprise of the New Zealand Government.
PPSI vs SLDP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.6M | $3.6M |
| Net Profit | $-1.4M | — |
| Gross Margin | 23.5% | — |
| Operating Margin | -19.4% | -730.1% |
| Net Margin | -24.7% | — |
| Revenue YoY | -42.3% | -18.6% |
| Net Profit YoY | -103.8% | — |
| EPS (diluted) | $-0.12 | $-0.15 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.6M | $3.6M | ||
| Q3 25 | $6.9M | $3.7M | ||
| Q2 25 | $8.4M | $6.5M | ||
| Q1 25 | $6.7M | $6.0M | ||
| Q4 24 | $9.8M | $4.5M | ||
| Q3 24 | $6.4M | $4.7M | ||
| Q2 24 | $3.4M | $5.1M | ||
| Q1 24 | $3.3M | $6.0M |
| Q4 25 | $-1.4M | — | ||
| Q3 25 | $-2.4M | $-25.9M | ||
| Q2 25 | $-1.3M | $-25.3M | ||
| Q1 25 | $-929.0K | $-15.2M | ||
| Q4 24 | $36.3M | — | ||
| Q3 24 | $-1.1M | $-22.4M | ||
| Q2 24 | $-2.3M | $-22.3M | ||
| Q1 24 | $-1.0M | $-21.2M |
| Q4 25 | 23.5% | — | ||
| Q3 25 | 9.3% | — | ||
| Q2 25 | 15.7% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 23.7% | — | ||
| Q2 24 | 18.9% | — | ||
| Q1 24 | 16.1% | — |
| Q4 25 | -19.4% | -730.1% | ||
| Q3 25 | -21.0% | -654.4% | ||
| Q2 25 | -20.4% | -398.9% | ||
| Q1 25 | -34.8% | -399.4% | ||
| Q4 24 | -11.0% | -561.1% | ||
| Q3 24 | -11.1% | -593.2% | ||
| Q2 24 | -51.1% | -530.8% | ||
| Q1 24 | -52.1% | -433.1% |
| Q4 25 | -24.7% | — | ||
| Q3 25 | -34.1% | -693.1% | ||
| Q2 25 | -15.9% | -390.7% | ||
| Q1 25 | -13.8% | -251.8% | ||
| Q4 24 | 372.1% | — | ||
| Q3 24 | -17.5% | -482.0% | ||
| Q2 24 | -67.2% | -438.9% | ||
| Q1 24 | -31.2% | -356.2% |
| Q4 25 | $-0.12 | $-0.15 | ||
| Q3 25 | $-0.21 | $-0.14 | ||
| Q2 25 | $-0.12 | $-0.14 | ||
| Q1 25 | $-0.09 | $-0.08 | ||
| Q4 24 | $3.31 | $-0.16 | ||
| Q3 24 | $-0.10 | $-0.13 | ||
| Q2 24 | $-0.21 | $-0.13 | ||
| Q1 24 | $-0.10 | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $250.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $29.3M | $415.7M |
| Total Assets | $35.5M | $455.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $250.8M | ||
| Q3 25 | — | $251.2M | ||
| Q2 25 | $18.0M | $230.9M | ||
| Q1 25 | $25.8M | $240.9M | ||
| Q4 24 | $41.6M | $118.2M | ||
| Q3 24 | $3.1M | $132.0M | ||
| Q2 24 | $6.5M | $140.5M | ||
| Q1 24 | $6.2M | $146.6M |
| Q4 25 | $29.3M | $415.7M | ||
| Q3 25 | $30.7M | $381.2M | ||
| Q2 25 | $33.0M | $370.6M | ||
| Q1 25 | $34.5M | $397.1M | ||
| Q4 24 | $35.4M | $410.3M | ||
| Q3 24 | $14.7M | $439.4M | ||
| Q2 24 | $15.8M | $456.8M | ||
| Q1 24 | $18.1M | $479.4M |
| Q4 25 | $35.5M | $455.1M | ||
| Q3 25 | $37.6M | $416.1M | ||
| Q2 25 | $39.1M | $398.0M | ||
| Q1 25 | $47.5M | $419.4M | ||
| Q4 24 | $66.0M | $448.3M | ||
| Q3 24 | $40.1M | $470.9M | ||
| Q2 24 | $38.0M | $492.6M | ||
| Q1 24 | $39.3M | $516.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.0M | $-18.4M |
| Free Cash FlowOCF − Capex | $-2.2M | $-23.0M |
| FCF MarginFCF / Revenue | -38.8% | -633.0% |
| Capex IntensityCapex / Revenue | 20.3% | 126.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-8.5M | $-83.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $-18.4M | ||
| Q3 25 | $-817.0K | $-14.3M | ||
| Q2 25 | $-5.5M | $-14.4M | ||
| Q1 25 | $1.5M | $-26.3M | ||
| Q4 24 | $-2.1M | $-13.9M | ||
| Q3 24 | $-2.7M | $-9.9M | ||
| Q2 24 | $571.0K | $-11.1M | ||
| Q1 24 | $-1.9M | $-29.1M |
| Q4 25 | $-2.2M | $-23.0M | ||
| Q3 25 | $-1.6M | $-14.8M | ||
| Q2 25 | $-5.6M | $-17.1M | ||
| Q1 25 | $907.0K | $-28.6M | ||
| Q4 24 | $-4.6M | $-18.6M | ||
| Q3 24 | $-3.4M | $-12.6M | ||
| Q2 24 | $170.0K | $-15.5M | ||
| Q1 24 | $-2.2M | $-33.1M |
| Q4 25 | -38.8% | -633.0% | ||
| Q3 25 | -23.4% | -397.6% | ||
| Q2 25 | -67.0% | -264.2% | ||
| Q1 25 | 13.5% | -476.1% | ||
| Q4 24 | -46.9% | -416.5% | ||
| Q3 24 | -53.0% | -271.5% | ||
| Q2 24 | 5.0% | -305.8% | ||
| Q1 24 | -65.2% | -556.3% |
| Q4 25 | 20.3% | 126.5% | ||
| Q3 25 | 11.5% | 15.3% | ||
| Q2 25 | 1.7% | 41.5% | ||
| Q1 25 | 8.8% | 39.1% | ||
| Q4 24 | 25.4% | 105.5% | ||
| Q3 24 | 10.3% | 59.7% | ||
| Q2 24 | 11.8% | 86.8% | ||
| Q1 24 | 6.4% | 68.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.06× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PPSI
| Total Revenue | $4.0M | 70% |
| Other | $1.7M | 30% |
SLDP
Segment breakdown not available.
