Solaris Energy Infrastructure, Inc (SEI)
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symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
The stock's value depends on whether the roughly 3,100 contracted megawatts arrive on schedule, the long-term contracts hold, and free cash flow eventually turns positive after interest and build-out. Only once operating cash flow covers capital expenditures, debt stops outrunning revenue, and sales spread across more than one major customer will the double-digit revenue multiple earn real trust. Until then, keep an eye on the quarterly results (next date July 22, 2026), free cash flow, and the share count. The decision is yours.
symbol.quality_note
In 18 months, Solaris Energy turned from a frac-sand logistics company into a lessor of mobile gas-turbine power plants for AI data centers. Revenue has more than doubled over six quarters — our scanner flags triple-digit growth. We read the annual report (10-K) and the quarterly report (10-Q): behind the AI-power story stand capital expenditures above annual revenue, deeply negative cash flow, a debt tower heading toward $2.9 billion — and a single customer who is almost half the company. Not investment advice, just the second look.
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Stock Watch
This analysis is as of July 15, 2026. Stock Watch will tell you what's changed at SEI since then.
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Appears in These Scanners
This stock currently matches 32 of our scanner strategies — each hit links to the scanner.
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Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 55.50 $ — 53% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/04/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
AAQS
5/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 48.1%
- Exp. sales growth 3Y > 5% 40.4%
- EBIT growth 10Y > 5% 53.5%
- Exp. EBIT growth 3Y > 5% 95.7%
- Net debt < 4x EBIT 5.4x
- EBIT positive, 10Y straight 8
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 7.6%
- ROCE > 15% 6.8%
- Expected return > 10% 80.1%
View all AAQS quality stocks · Read the methodology at AlleAktien
Source: fundamental data
AI Rating
Sells AIDas dominierende Segment Solaris Power Solutions (Q4 2025: 58% des Konzernumsatzes) vermietet mobile Gasturbinen-Stromerzeugung direkt an führende KI-Computing-Unternehmen — mehrere Mehrjahres-Verträge über zusammen rund 2.000 MW (Stateline-JV ~900 MW, Hatchbo >500 MW, weiterer Technologiekonzern >600 MW) dienen laut 10-K/10-Q ausdrücklich dem Strombedarf für KI-Berechnungen in Rechenzentren und machen die KI-Infrastruktur damit zur zentralen Umsatzquelle.
View the full file — quotes, sources, reviewed filings
„During the first quarter of 2026, we entered into a rental agreement with an affiliate of an investment grade, global technology company and industry leader in the evolving artificial intelligence computer space to provide over 500 megawatts of power generation equipment to support the customer’s power demand for artificial intelligence computing needs at its data center."
Im ersten Quartal 2026 haben wir einen Mietvertrag mit einer Tochtergesellschaft eines globalen Technologiekonzerns mit Investment-Grade-Rating und Branchenführers im aufstrebenden Feld der künstlichen Intelligenz geschlossen, um über 500 Megawatt an Stromerzeugungsanlagen bereitzustellen, die den Strombedarf des Kunden für KI-Berechnungen in seinem Rechenzentrum decken.
„Today, Solaris Power Solutions’ primary customers include a leading company in the artificial intelligence computing sector, as well as several energy companies requiring power for hydrocarbon production, processing, transportation, and refining applications."
Heute zählen zu den Hauptkunden von Solaris Power Solutions ein führendes Unternehmen aus dem Bereich der KI-Datenverarbeitung sowie mehrere Energieunternehmen, die Strom für die Förderung, Verarbeitung, den Transport und die Raffination von Kohlenwasserstoffen benötigen.
„In the first quarter of 2026, we entered into an agreement for over 500 MW of power generation to support power demand for artificial intelligence computing needs at data centers with a global technology leader. Subsequently, in April 2026, we entered into an agreement with an additional global technology leader for over 600 MW of power generation at its data center locations."
Im ersten Quartal 2026 haben wir mit einem globalen Technologieführer eine Vereinbarung über mehr als 500 MW Stromerzeugung geschlossen, um den Strombedarf für KI-Berechnungen in Rechenzentren zu decken. Anschließend, im April 2026, haben wir mit einem weiteren globalen Technologieführer eine Vereinbarung über mehr als 600 MW Stromerzeugung an dessen Rechenzentrumsstandorten geschlossen.
„Today, the Company’s Solaris Power Solutions segment’s primary customers include a large data center and several energy companies requiring power for hydrocarbon production, processing, transportation, and refining applications. Power demand for data centers has been accelerated due to growth in generative artificial intelligence (“AI”) computing applications."
Heute zählen zu den Hauptkunden des Segments Solaris Power Solutions des Unternehmens ein großes Rechenzentrum sowie mehrere Energieunternehmen, die Strom für die Förderung, Verarbeitung, den Transport und die Raffination von Kohlenwasserstoffen benötigen. Der Strombedarf der Rechenzentren hat sich durch das Wachstum generativer KI-Anwendungen („AI“) beschleunigt.
Filings Reviewed: 10-Q 2026-05-01 · 10-Q 2025-11-06 · 10-Q 2025-08-01 · 10-Q 2025-05-07 · 10-K 2026-02-27 · 10-K 2025-03-05
Rated on July 8, 2026 · How the Rating Is Built
Growth Score
5 of 10 Solid growthTen checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 24.8% passed
- More than 10% revenue growth is expected for the coming year 48.5% passed
- Share count grows by less than 3% a year 16.3% failed
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 28.4% failed
- Gross margin at 40% or higher and without meaningful erosion 45.9% passed
- Goodwill from acquisitions does not grow faster than revenue 4.9% failed
- Net debt below twice EBITDA 4.0 x EBITDA failed
- Operating cash flow covers the profits of the last three years 286 m passed
- Return on capital at 15% or higher, or up versus two years ago 6.8% failed
- Insiders hold at least 10% or are net buyers 10.3% passed
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 70.0% above the current price.
- Consensus
- Strong Sell
- Analyst Ratings
- 8
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 1.15 | 0.69 – 1.51 | 820 | -7.6% | 8 |
| 12/31/2027 | 2.33 | 1.33 – 3.21 | 1,226 | 102.2% | 8 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.31 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.21 | 38.50 | 96 | 52.00 | 6.50 | 13 | -114 |
| 2025: Q1 | 0.15 | -2.60 | 126 | 86.10 | 4.20 | 26 | -119 |
| 2025: Q2 | 0.32 | 44.30 | 149 | 102.10 | 8.00 | 24 | -161 |
| 2025: Q3 | 0.33 | – | 167 | 122.40 | 8.70 | 63 | 1 |
| 2025: Q4 | -0.03 | -116.30 | 180 | 86.60 | -0.90 | 96 | -159 |
| 2026: Q1 | 0.43 | 194.50 | 196 | 55.30 | 10.90 | 79 | -264 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 18 | 3 | – | – | 5 | 71 | 77 |
| 2017 | 67 | 25 | -4 | -0.34 | 27 | 113 | 300 |
| 2018 | 197 | 99 | 42 | 1.64 | 116 | 198 | 459 |
| 2019 | 242 | 108 | 52 | 1.72 | 115 | 264 | 505 |
| 2020 | 103 | -60 | -29 | -1.01 | 44 | 201 | 412 |
| 2021 | 159 | 0 | -1 | -0.03 | 16 | 203 | 406 |
| 2022 | 320 | 42 | 21 | 0.67 | 68 | 216 | 463 |
| 2023 | 293 | 50 | 24 | 0.82 | 88 | 206 | 468 |
| 2024 | 313 | 53 | 16 | 0.54 | 59 | 356 | 1,123 |
| 2025 | 622 | 135 | 30 | 0.61 | 209 | 564 | 2,143 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Genuine structural tailwind: AI data centers wait years for grid connections, and "behind the meter" gas turbines are often the only fast route. Solaris fills the gap with an ordered pipeline of about 3,100 megawatts through the end of 2029 and long contracts; turbine slots are scarce.
Not a bookkeeping trick but a genuine ramp-up: group revenue rose for six quarters in a row, from $96.3 to $196.2 million; Power revenue rose from $38.6 million (2024) to $333.5 million (2025). The Power segment operates profitably at an Adjusted EBITDA margin of about 56 percent.
This growth is built on borrowed money: 2025 capital expenditures of $646.8 million exceeded annual revenue, and free cash flow was deeply negative in five of six quarters (minus $264.3 million in the first quarter of 2026). Financial debt rose from about $0.2 billion to a run rate of $2.9 billion, including a $1.3 billion note at 6.375 percent.
A single data-center customer accounted for about 47 percent of group revenue and 88 percent of Power-segment revenue in 2025. At its core is a contract for up to 900 megawatts; per the risk factor, losing that customer could hardly be replaced quickly on similar terms.
Class A shares up 61 percent in 18 months, with $902.5 million in convertible notes forming a further share pipeline. Through the Up-C structure, $28.2 million of $58.4 million in profit went to minority holders in 2025, plus a $75 million tax receivable liability to legacy owners. The legacy business (Logistics) is shrinking, and there is single-supplier risk on turbines.
About $5 billion in market value (order of magnitude, mid-2026) against roughly $692 million in trailing-twelve-month revenue works out, including debt, to an EV/revenue of about 10 and an EV/EBITDA around 24 — the market is paying for the contracted megawatts as if they were already on the grid. Short interest sits around 22 percent, yet the analyst consensus is still "Buy".
Solaris Energy is both things at once: a genuine, even profitable growth story at one of the most exciting points of the AI boom — power for data centers — and a highly leveraged bet. Revenue has doubled over six quarters, but it is paid for with capital expenditures above annual revenue, deeply negative cash flow, debt on a run rate toward $2.9 billion and ongoing dilution. On top of that, almost half the company hangs on a single customer. Not investment advice.
- Was named "Solaris Oilfield Infrastructure, Inc." until 2024; the turn toward power leasing began with the MER acquisition in September 2024.
- The database field for market capitalization ($7.83 billion) is a data artifact and does not match the share count on the SEC cover pages; the reliable figure is the calculation via Class A plus B shares (roughly 76 million shares) to about $5 billion in market value.
- Most of the interest is currently being capitalized into the turbine book values (2025 cash-paid net interest was only $22.4 million); the full interest burden will not hit the income statement until the equipment is in operation.
About the Company
Solaris Energy Infrastructure, Inc. bietet modulare und skalierbare gerätebasierte Lösungen für Stromerzeugung, -steuerung und -verteilung sowie das Management von Rohstoffen für die Komplettierung von Öl- und Erdgasbohrungen in den USA an.
| CEO Insider Trades (12 Mo.) | buying own stock |
|---|---|
| Employees | 468 |
| Headquarters | Houston, TX |
| Address | 9651 Katy Freeway, 77024 Houston, United States |
| Phone | 281 501 3070 |
| Website | solaris-energy.com |
| IPO Date | 12. May 2017 |
| ISIN | US83418M1036 |
Management
| Name | Title | Birth Year |
|---|---|---|
| William A. Zartler | Co-CEO, Founder & Chairman | 1965 |
| Amanda M. Brock J.D. | Co-CEO & Director | 1961 |
| Kyle S. Ramachandran | President & Head of Power Solutions | 1985 |
| Cynthia M. Durrett | Chief Administrative Officer & Director | 1965 |
| Christopher M. Powell CPA | Chief Legal Officer & Corporate Secretary | 1975 |
| Stephan E. Tompsett | CFO & Principal Financial Officer | 1977 |
| Yvonne L. Fletcher | Senior Vice President of Finance & Investor Relations | – |
| Greg Garcia | Executive Vice President of Commercial & Logistics Solutions | – |
| Brendan Gilbert | Executive VP & GM of Logistics Solutions | – |
| C. Ross Bartley | Executive Vice President of Power Solutions | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: August 3, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.