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1. Company Snapshot

1.a. Company Description

SPI Energy Co., Ltd.provides photovoltaic and electric vehicle (EV) solutions for business, residential, government, and utility customers and investors in Australia, Japan, Italy, the United States, the United Kingdom, and Greece.The company offers engineering, procurement, and construction services to independent power developers and producers, and commercial and industrial companies.


It also develops, owns, and operates solar projects that sell electricity to power companies and other electricity off-takers, including government-owned utility companies.In addition, the company designs and develops EV charging solutions.As of March 30, 2022, it owned and operated 16.8 megawatts of solar projects.


The company is headquartered in Sacramento, California.

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1.b. Last Insights on SPI

SPI Energy Co., Ltd.'s recent performance was driven by the settlement agreement with SINSIN, resolving all disputes arising from a share sale and purchase agreement dated September 6, 2014. This agreement likely alleviated concerns over potential litigation and its impact on the company's financials. Additionally, the company's focus on renewable energy solutions and solar storage systems for various customers remains a key driver of its business.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Low-Power I2C/SPI-Bus-to-Dual-Channel UART Bridge from Diodes Incorporated Improves Automotive Connectivity Robustness

Oct -08

Source: businesswire.com

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TopBuild Acquires Specialty Products and Insulation (SPI) in All-Cash Transaction Valued at $1 Billion

Oct -08

Source: globenewswire.com

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I2C/SPI Programmable 18-/12-Channel Linear LED Drivers from Diodes Incorporated Simplify Dynamic Automotive Lighting Applications with Digital Color Mixing

Sep -24

Source: businesswire.com

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Kingsway Announces Strategic Acquisition of Viewpoint by SPI Software

Apr -30

Source: accessnewswire.com

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SPI Energy Announces Settlement Agreement with SINSIN

Jan -10

Source: accesswire.com

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SPI Energy Announces Receipt of Nasdaq Delist Determination Notice

Nov -21

Source: accesswire.com

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SPI Energy Announces Receipt of Nasdaq Delist Determination Notice

Oct -23

Source: accesswire.com

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SPI Energy's Solar4America Technology to Launch Modules with Origami Solar's U.S.-Based Steel Frames

Sep -04

Source: accesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.70%)

6. Segments

Renewable Energy Solutions

Expected Growth: 11.47%

SPI Energy Co., Ltd.'s 11.47% growth in Renewable Energy Solutions is driven by increasing global demand for clean energy, declining solar panel costs, and favorable government policies and incentives. Additionally, the company's strategic partnerships, expanding product offerings, and growing presence in emerging markets contribute to its rapid growth.

Solar Projects Development

Expected Growth: 11.38%

SPI Energy Co., Ltd.'s 11.38% growth in Solar Projects Development is driven by increasing global demand for renewable energy, declining solar panel costs, and favorable government policies. Additionally, the company's strategic partnerships, expanding project pipeline, and efficient project execution capabilities contribute to its rapid growth.

Electric Vehicles

Expected Growth: 22.12%

SPI Energy Co., Ltd.'s 22.12% growth in Electric Vehicles is driven by increasing adoption of clean energy, government incentives and regulations, declining battery costs, and rising consumer demand for sustainable transportation. Additionally, the company's strategic partnerships, expanding product offerings, and investments in technology and infrastructure have contributed to its rapid growth.

Others

Expected Growth: 10.98%

SPI Energy Co., Ltd.'s 10.98% growth is driven by increasing demand for renewable energy solutions, strategic acquisitions, and expansion into new markets. The company's focus on solar energy and energy storage systems also contributes to its growth, as governments and corporations increasingly adopt sustainable energy practices.

7. Detailed Products

Solar PV Systems

SPI Energy Co., Ltd. designs and installs solar photovoltaic (PV) systems for residential, commercial, and industrial customers, providing clean and renewable energy solutions.

Energy Storage Systems

SPI Energy Co., Ltd. offers energy storage systems that enable customers to store excess energy generated by their solar PV systems, providing backup power during outages and optimizing energy usage.

Electric Vehicle Charging Solutions

SPI Energy Co., Ltd. provides electric vehicle (EV) charging solutions for residential, commercial, and public charging stations, supporting the adoption of EVs and sustainable transportation.

Smart Energy Management Systems

SPI Energy Co., Ltd. offers smart energy management systems that monitor and control energy usage, providing real-time data and insights to optimize energy efficiency and reduce waste.

Microgrids

SPI Energy Co., Ltd. designs and implements microgrids, which are local energy systems that can operate independently of the grid, providing reliable and resilient energy supply.

8. SPI Energy Co., Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

SPI Energy Co., Ltd. faces moderate threat from substitutes due to the availability of alternative energy sources such as wind and hydro power.

Bargaining Power Of Customers

SPI Energy Co., Ltd. has a diversified customer base, which reduces the bargaining power of individual customers.

Bargaining Power Of Suppliers

SPI Energy Co., Ltd. relies on a few key suppliers for its solar panels and other equipment, giving them some bargaining power.

Threat Of New Entrants

The renewable energy industry is rapidly growing, and new entrants are attracted to the market, increasing competition for SPI Energy Co., Ltd.

Intensity Of Rivalry

The renewable energy industry is highly competitive, with many established players and new entrants competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 86.05%
Debt Cost 7.77%
Equity Weight 13.95%
Equity Cost 7.77%
WACC 7.77%
Leverage 616.80%

11. Quality Control: SPI Energy Co., Ltd. passed 1 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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SunPower

A-Score: 4.5/10

Value: 9.6

Growth: 0.9

Quality: 6.8

Yield: 0.0

Momentum: 10.0

Volatility: 0.0

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SPI Energy Co

A-Score: 3.8/10

Value: 9.0

Growth: 3.7

Quality: 2.9

Yield: 0.0

Momentum: 7.0

Volatility: 0.0

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Tigo Energy

A-Score: 3.7/10

Value: 6.1

Growth: 2.9

Quality: 2.4

Yield: 0.0

Momentum: 10.0

Volatility: 0.7

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FTC Solar

A-Score: 3.6/10

Value: 7.0

Growth: 2.2

Quality: 2.8

Yield: 0.0

Momentum: 9.0

Volatility: 0.7

1-Year Total Return ->

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Beam

A-Score: 3.6/10

Value: 8.4

Growth: 6.8

Quality: 4.0

Yield: 0.0

Momentum: 1.5

Volatility: 1.0

1-Year Total Return ->

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Sunnova Energy

A-Score: 2.6/10

Value: 8.0

Growth: 4.4

Quality: 2.8

Yield: 0.0

Momentum: 0.5

Volatility: 0.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.77$

Current Price

0.77$

Potential

-0.00%

Expected Cash-Flows