FTC Solar Inc logo

FTC Solar Inc(FTCI)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$2.66
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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  • BUY Advisory
  • SELL Advisory (Profit)
  • SELL Advisory (Loss)
  • Profit
  • Loss
  • PASS (Skip)
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Advisory Performance History (Simulated)Advisory Performance History info

Upturn Advisory & Investor View for FTCI

09/25/2026: FTCI (1-star) is currently NOT-A-BUY. Pass it for now.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Price Behavior

Steep Decline
PRICE PATH

Steep Decline

The stock price has dropped sharply with strong downward pressure.

Extreme Price Shocks
PRICE STABILITY

Extreme Price Shocks

The stock has experienced exceptionally large and disruptive price movements during the period.

Analysis of Past Performance

Type Stock
Historic Profit -28.25%
Avg. Invested days 26
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
FTCI receives a 2-star rating, supported by available scored pillars. The rating is constrained by weak unit economics, soft quantitative characteristics, and weak price momentum.

Company Fundamentals

★★★★★
FTCI has moderate overall fundamentals (3 stars), with soft financial health, moderate growth momentum, and solid ownership. In FY2025 versus FY2024, strong revenue growth (+110.5%) is partially offset by negative earnings growth (-58.3%), soft cash generation (FCF margin -34.7%), soft profitability (net margin -77.2%).

Financial Health Rating

★★★★★
FTCI's financial health is supported by moderate liquidity, including working-capital and asset support (WC/assets 26.4%). Profitability is weak (1 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
Revenue growth is FTCI's strongest growth driver at +110.5% FY2025 versus FY2024 (strong, 5 stars). By comparison, while earnings growth (-58.3%, negative) and free-cash-flow growth (+4.9%, moderate) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 8.7% and approximately 69.1% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 29.56% supports management-shareholder alignment.

Top 5 Institutional Investors

Vanguard Capital Management, LLC 2.69%
Geode Capital Management, LLC 0.75%
Marshall Wace Asset Management Ltd 0.63%
BlackRock Inc 0.62%
Squarepoint Ops LLC 0.57%

Unit Economics (Per $1K Revenue)

★★★★★
FTCI generates approximately $11 of gross profit, $-335 of operating income, and $-347 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong margins, cash conversion, and capital efficiency support the rating.

Economic Dimensions

★★★★★
Effective Tax Rate: -0.69% (Tax Credit)

Quantitative Style Profile

★★★★★
FTCI has a liquid profile. Weak momentum is the primary drawback, while elevated volatility.

Style Classification

Quality Focused

Value-OrientedHigh VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 44.28M USD
Price to earnings Ratio -
1Y Target Price 8.9
Price to earnings Ratio -
1Y Target Price 8.9
Volume (30-day avg) 359.0K shares
Beta 1.84
52 Weeks Range 1.99 - 12.75
Updated Date 09/25/2026
52 Weeks Range 1.99 - 12.75
Updated Date 09/25/2026
Dividends yield (FY) -
Basic EPS (TTM) -6.02

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE 18.83
Enterprise Value 56.16M
Price to Sales(TTM) 0.43
Enterprise Value 56.16M
Price to Sales(TTM) 0.43
Enterprise Value to Revenue 0.55
Enterprise Value to EBITDA -0.7
Shares Outstanding 16.52M
Shares Floating 11.42M
Shares Outstanding 16.52M
Shares Floating 11.42M
Percent Insiders 29.56
Percent Institutions 8.73

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About FTC Solar Inc

Exchange NASDAQ
Headquarters Austin, TX, United States
IPO Launch date 2021-04-28
President, CEO & Director Mr. Anthony Carroll
Sector Technology
Industry Solar
Full time employees 232
Full time employees 232

FTC Solar, Inc. engages in the manufacture and service of solar tracker systems in the United States, Asia, Europe, the Middle East, North Africa, South Africa, and Australia. The company provides a two modules-in-portrait solar tracker system under the Voyager brand name; and a one module-in-portrait solar tracker solution under the Pioneer brand name. It also offers trackers and software solutions for the utility-scale solar energy markets, as well as for the project developers, solar asset owners, and engineering, procurement, and construction contractors that design and build solar energy projects. It also produces steel. The company was incorporated in 2017 and is headquartered in Austin, Texas.