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Side-by-side financial comparison of Prairie Operating Co. (PROP) and SolarMax Technology, Inc. (SMXT). Click either name above to swap in a different company.

Prairie Operating Co. is the larger business by last-quarter revenue ($77.7M vs $46.6M, roughly 1.7× SolarMax Technology, Inc.). Prairie Operating Co. runs the higher net margin — 1.7% vs -1.9%, a 3.5% gap on every dollar of revenue.

Prairie Farms Dairy is a dairy cooperative founded in Carlinville, Illinois, and now headquartered in Edwardsville, Illinois. As a dairy cooperative, Prairie Farms receives milk from producers and converts it into many different products, including cheese, butter, ice cream, sour cream, cottage cheese, various dips, yogurt, and fluid milk. Prairie Farms also produces and sells juices, flavored drinks, and pre-made iced tea.

SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.

PROP vs SMXT — Head-to-Head

Bigger by revenue
PROP
PROP
1.7× larger
PROP
$77.7M
$46.6M
SMXT
Higher net margin
PROP
PROP
3.5% more per $
PROP
1.7%
-1.9%
SMXT

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
PROP
PROP
SMXT
SMXT
Revenue
$77.7M
$46.6M
Net Profit
$1.3M
$-872.2K
Gross Margin
2.7%
Operating Margin
34.8%
-2.7%
Net Margin
1.7%
-1.9%
Revenue YoY
623.5%
Net Profit YoY
111.3%
77.7%
EPS (diluted)
$-0.44
$-0.02

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.

Revenue
PROP
PROP
SMXT
SMXT
Q4 25
$46.6M
Q3 25
$77.7M
$30.6M
Q2 25
$68.1M
$6.9M
Q1 25
$13.6M
$6.9M
Q4 24
$6.4M
Q3 24
$0
$6.3M
Q3 23
$458.0K
Q2 23
$179.3K
Net Profit
PROP
PROP
SMXT
SMXT
Q4 25
$-872.2K
Q3 25
$1.3M
$-2.3M
Q2 25
$35.7M
$-1.9M
Q1 25
$-2.6M
$-1.3M
Q4 24
$-3.9M
Q3 24
$-11.4M
$-9.6M
Q3 23
$-34.4M
Q2 23
$-21.1M
Gross Margin
PROP
PROP
SMXT
SMXT
Q4 25
2.7%
Q3 25
3.1%
Q2 25
8.8%
Q1 25
20.5%
Q4 24
14.5%
Q3 24
19.9%
Q3 23
Q2 23
Operating Margin
PROP
PROP
SMXT
SMXT
Q4 25
-2.7%
Q3 25
34.8%
-6.9%
Q2 25
27.8%
-25.7%
Q1 25
12.9%
-16.7%
Q4 24
-27.9%
Q3 24
-158.4%
Q3 23
-1379.0%
Q2 23
-1593.5%
Net Margin
PROP
PROP
SMXT
SMXT
Q4 25
-1.9%
Q3 25
1.7%
-7.4%
Q2 25
52.4%
-27.6%
Q1 25
-19.3%
-18.7%
Q4 24
-60.6%
Q3 24
-152.0%
Q3 23
-7515.2%
Q2 23
-11792.9%
EPS (diluted)
PROP
PROP
SMXT
SMXT
Q4 25
$-0.02
Q3 25
$-0.44
$-0.04
Q2 25
$0.18
$-0.04
Q1 25
$-3.49
$-0.03
Q4 24
$-0.07
Q3 24
$-0.68
$-0.21
Q3 23
$-5.24
Q2 23
$-5.39

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
PROP
PROP
SMXT
SMXT
Cash + ST InvestmentsLiquidity on hand
$10.6M
$8.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$101.8M
$-12.2M
Total Assets
$939.8M
$91.3M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
PROP
PROP
SMXT
SMXT
Q4 25
$8.0M
Q3 25
$10.6M
$5.7M
Q2 25
$10.7M
$1.9M
Q1 25
$15.0M
$6.8M
Q4 24
$7.1M
Q3 24
$40.1M
$8.6M
Q3 23
$7.2M
Q2 23
$8.6M
Total Debt
PROP
PROP
SMXT
SMXT
Q4 25
Q3 25
Q2 25
$387.0M
Q1 25
$377.0M
Q4 24
Q3 24
Q3 23
Q2 23
$2.1M
Stockholders' Equity
PROP
PROP
SMXT
SMXT
Q4 25
$-12.2M
Q3 25
$101.8M
$-11.8M
Q2 25
$94.2M
$-15.1M
Q1 25
$34.0M
$-15.9M
Q4 24
$-15.1M
Q3 24
$61.3M
$-10.9M
Q3 23
$-64.0M
Q2 23
$8.0M
Total Assets
PROP
PROP
SMXT
SMXT
Q4 25
$91.3M
Q3 25
$939.8M
$58.7M
Q2 25
$858.5M
$38.2M
Q1 25
$775.4M
$38.6M
Q4 24
$38.6M
Q3 24
$107.2M
$43.0M
Q3 23
$40.1M
Q2 23
$16.5M
Debt / Equity
PROP
PROP
SMXT
SMXT
Q4 25
Q3 25
Q2 25
4.11×
Q1 25
11.07×
Q4 24
Q3 24
Q3 23
Q2 23
0.27×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
PROP
PROP
SMXT
SMXT
Operating Cash FlowLast quarter
$57.7M
$-2.5M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
44.80×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
PROP
PROP
SMXT
SMXT
Q4 25
$-2.5M
Q3 25
$57.7M
$3.4M
Q2 25
$-7.2M
$220.7K
Q1 25
$16.9M
$-601.1K
Q4 24
$-1.3M
Q3 24
$2.8M
$203.6K
Q3 23
$-2.9M
Q2 23
$-5.1M
Capex Intensity
PROP
PROP
SMXT
SMXT
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
0.0%
Q3 23
0.0%
Q2 23
Cash Conversion
PROP
PROP
SMXT
SMXT
Q4 25
Q3 25
44.80×
Q2 25
-0.20×
Q1 25
Q4 24
Q3 24
Q3 23
Q2 23

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

PROP
PROP

Crude Oil Sales$64.9M84%
Natural Gas Sales$7.6M10%
Natural Gas Liquids Reserves$5.2M7%

SMXT
SMXT

Yabucoa$35.9M77%
Other$10.7M23%

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