SLDPSolid Power, Inc.
Is the business good?
Margins compressing. That is the only one of 4 checks this filer's data supports, so take it as a single data point rather than a settled answer.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is SLDP?
Solid Power, Inc. earns −33% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 42 points below what the capital costs: growth destroys value
- Share count, year on year
- +25%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −551% |
| FY2021 | −979% |
| FY2022 | −501% |
| FY2023 | −521% |
| FY2024 | −523% |
| FY2025 | −464% |
Details›
- Free cash flow, trailing twelve months
- −$73M
- Net income, trailing twelve months
- −$90M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −33%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from SLDP and who it buys from, as the companies report it.
- Three customers95%
Combined share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; SLDP’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.