vs
Side-by-side financial comparison of SolarMax Technology, Inc. (SMXT) and Zeo Energy Corp. (ZEO). Click either name above to swap in a different company.
SolarMax Technology, Inc. is the larger business by last-quarter revenue ($46.6M vs $18.6M, roughly 2.5× Zeo Energy Corp.). SolarMax Technology, Inc. runs the higher net margin — -1.9% vs -10.8%, a 8.9% gap on every dollar of revenue. On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% vs -0.4%).
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.
SMXT vs ZEO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $46.6M | $18.6M |
| Net Profit | $-872.2K | $-2.0M |
| Gross Margin | 2.7% | — |
| Operating Margin | -2.7% | -11.8% |
| Net Margin | -1.9% | -10.8% |
| Revenue YoY | 623.5% | -0.4% |
| Net Profit YoY | 77.7% | -360.9% |
| EPS (diluted) | $-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.
| Q4 25 | $46.6M | $18.6M | ||
| Q3 25 | $30.6M | $23.9M | ||
| Q2 25 | $6.9M | $18.1M | ||
| Q1 25 | $6.9M | $8.8M | ||
| Q4 24 | $6.4M | $18.6M | ||
| Q3 24 | $6.3M | $19.7M | ||
| Q2 24 | — | $14.8M | ||
| Q1 24 | — | $20.1M |
| Q4 25 | $-872.2K | $-2.0M | ||
| Q3 25 | $-2.3M | $-3.2M | ||
| Q2 25 | $-1.9M | $-2.4M | ||
| Q1 25 | $-1.3M | $-6.4M | ||
| Q4 24 | $-3.9M | $-435.3K | ||
| Q3 24 | $-9.6M | $-424.3K | ||
| Q2 24 | — | $-277.8K | ||
| Q1 24 | — | $-1.5M |
| Q4 25 | 2.7% | — | ||
| Q3 25 | 3.1% | 57.9% | ||
| Q2 25 | 8.8% | 59.8% | ||
| Q1 25 | 20.5% | 99.3% | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 19.9% | 50.2% | ||
| Q2 24 | — | 52.3% | ||
| Q1 24 | — | — |
| Q4 25 | -2.7% | -11.8% | ||
| Q3 25 | -6.9% | -8.3% | ||
| Q2 25 | -25.7% | -15.8% | ||
| Q1 25 | -16.7% | -153.8% | ||
| Q4 24 | -27.9% | -6.0% | ||
| Q3 24 | -158.4% | -15.2% | ||
| Q2 24 | — | -18.0% | ||
| Q1 24 | — | -20.1% |
| Q4 25 | -1.9% | -10.8% | ||
| Q3 25 | -7.4% | -13.5% | ||
| Q2 25 | -27.6% | -13.3% | ||
| Q1 25 | -18.7% | -72.4% | ||
| Q4 24 | -60.6% | -2.3% | ||
| Q3 24 | -152.0% | -2.2% | ||
| Q2 24 | — | -1.9% | ||
| Q1 24 | — | -7.6% |
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $-0.04 | — | ||
| Q2 25 | $-0.04 | — | ||
| Q1 25 | $-0.03 | $-0.48 | ||
| Q4 24 | $-0.07 | $1.11 | ||
| Q3 24 | $-0.21 | $-0.08 | ||
| Q2 24 | — | $0.03 | ||
| Q1 24 | — | $-1.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.0M | $6.1M |
| Total DebtLower is stronger | — | $79.1K |
| Stockholders' EquityBook value | $-12.2M | $5.3M |
| Total Assets | $91.3M | $56.9M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.0M | $6.1M | ||
| Q3 25 | $5.7M | $3.9M | ||
| Q2 25 | $1.9M | $68.7K | ||
| Q1 25 | $6.8M | $2.9M | ||
| Q4 24 | $7.1M | $5.6M | ||
| Q3 24 | $8.6M | $4.3M | ||
| Q2 24 | — | $5.3M | ||
| Q1 24 | — | — |
| Q4 25 | — | $79.1K | ||
| Q3 25 | — | $84.6K | ||
| Q2 25 | — | $642.8K | ||
| Q1 25 | — | $715.4K | ||
| Q4 24 | — | $787.7K | ||
| Q3 24 | — | $858.6K | ||
| Q2 24 | — | $1.6M | ||
| Q1 24 | — | $748.8K |
| Q4 25 | $-12.2M | $5.3M | ||
| Q3 25 | $-11.8M | $-1.7M | ||
| Q2 25 | $-15.1M | $-59.4M | ||
| Q1 25 | $-15.9M | $-23.1M | ||
| Q4 24 | $-15.1M | $-88.9M | ||
| Q3 24 | $-10.9M | $-39.3M | ||
| Q2 24 | — | $-53.0M | ||
| Q1 24 | — | $-173.0M |
| Q4 25 | $91.3M | $56.9M | ||
| Q3 25 | $58.7M | $58.5M | ||
| Q2 25 | $38.2M | $46.2M | ||
| Q1 25 | $38.6M | $47.4M | ||
| Q4 24 | $38.6M | $61.0M | ||
| Q3 24 | $43.0M | $47.1M | ||
| Q2 24 | — | $49.1M | ||
| Q1 24 | — | $50.1M |
| Q4 25 | — | 0.01× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-2.5M | $2.4M |
| Free Cash FlowOCF − Capex | — | $2.3M |
| FCF MarginFCF / Revenue | — | 12.2% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.5M | $2.4M | ||
| Q3 25 | $3.4M | $-6.6M | ||
| Q2 25 | $220.7K | $-2.3M | ||
| Q1 25 | $-601.1K | $-2.3M | ||
| Q4 24 | $-1.3M | $3.5M | ||
| Q3 24 | $203.6K | $162.2K | ||
| Q2 24 | — | $-2.2M | ||
| Q1 24 | — | $-10.2M |
| Q4 25 | — | $2.3M | ||
| Q3 25 | — | $-6.8M | ||
| Q2 25 | — | $-2.7M | ||
| Q1 25 | — | $-2.6M | ||
| Q4 24 | — | $3.4M | ||
| Q3 24 | — | $116.5K | ||
| Q2 24 | — | $-2.3M | ||
| Q1 24 | — | $-10.4M |
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | -28.6% | ||
| Q2 25 | — | -15.0% | ||
| Q1 25 | — | -30.0% | ||
| Q4 24 | — | 18.2% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | -15.6% | ||
| Q1 24 | — | -51.5% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SMXT
| Yabucoa | $35.9M | 77% |
| Other | $10.7M | 23% |
ZEO
| Nonrelated Party | $18.1M | 98% |
| Related Party | $432.1K | 2% |
