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P2 Solar

PTOS
39
Electrical Equipment & Parts · Industrials
Price
$0.01
+0.00 (+0.00%)
Market Cap
$1.9M
Winston Score
39
Winston is serious
Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+86.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 67.9M (2022) → 127.0M (2026)

P2 Solar, Inc. is a small company in the solar energy industry that works on developing thin-film solar panel technology. Thin-film solar panels are a type of solar cell that can be made thinner and potentially cheaper than traditional silicon panels. The company targets markets where lightweight or flexible solar materials could be used, such as building materials or portable power applications.

P2 Solar generates revenue through its solar technology development efforts, though its deeply negative operating margin suggests it spends far more than it earns and is not yet a profitable business. The company appears to operate primarily in the United States and is very small, with a market cap near zero, meaning it has little financial scale compared to major solar manufacturers. The biggest risk facing P2 Solar is its ability to secure enough funding to continue operations, as companies at this stage often struggle to survive without consistent outside investment or a clear path to commercial revenue.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-102.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+328.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

81.1%ownership

Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~0 months

$0 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

P2 Solar has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin
83.8%
Premium pricing power — 83.8% gross margin
Operating Margin
10546.9%
Excellent — 10546.9% operating margin
ROCE
N/A
Data not available

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Growth

Sales YoY
-20.1%
Shrinking sales (-20.1% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion
-224%
Weak — only -224% of profit becomes cash
FCF Margin
-342.5%
Burning cash (-342.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
N/A
Data not available
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
16.7x
Fair value — P/E 16.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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