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Photon Energy N.V.

Photon Energy N.V.

PEN.WA
Photon Energy N.V.PL flagWarsaw Stock Exchange
1.30
PLN
-0.15
- -
78.35MMarket Cap
Photon Energy N.V.
PEN.WA
(Warsaw Stock Exchange)

Recent

price

1.32

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
1.01
0.7
0.37
0.24
0.27
0.26
0.34
0.39
0.59
0.54
0.67
1.68
1.19
1.5
1.5
1.49
Revenue per Share
-0.23
-0.47
-0.13
-0.1
-0.03
-0.05
-0.02
0.01
-0.01
-0.17
-0.12
0.11
-0.26
-0.22
-0.29
-0.29
Basic EPS, GAAP
-0.89
-0.13
-0.67
0.03
0.06
0.04
0.05
-0.04
-0.22
-0.24
-0.04
-0.44
-0.27
0.12
0.22
0.2
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-0.23
-0.61
-0.46
-0.42
-0.39
-0.44
-0.42
-0.34
-0.31
-0.41
-0.44
-0.26
-0.47
-0.62
-0.92
-0.91
Book Value per Share
0.76
0.63
0.71
0.56
0.57
0.47
0.51
0.57
0.72
0.74
0.93
0.84
0.77
0.57
0.44
0.44
Tangible Book Value per Share
23
23
38
50
50
51
51
51
51
52
54
57
60
60
60
61
Basic Weighted Avg Shares
23
16
14
12
13
13
17
20
30
28
36
95
71
90
90
90
Sales/Revenue/Turnover
-5.69
-35.71
-9.98
-0.42
9.81
7.88
12.5
11.71
3.68
-0.27
-4.1
16.08
-10.74
-5.16
-10.7
-10.7
Operating Margin (%)
4
5
5
4
5
5
6
6
7
8
11
9
11
11
10
10
Depreciation Expense
-5
-11
-5
-5
-2
-3
-1
1
-1
-9
-6
6
-16
-13
-17
-17
Net Income, GAAP
- -
- -
- -
- -
- -
- -
333.24
72.34
173.48
- -
- -
28.23
- -
- -
- -
- -
Effective Tax Rate (%)
-22.87
-66.79
-36.11
-42.87
-12.95
-20.32
-4.58
2.62
-2.27
-30.62
-17.61
6.63
-22.2
-14.59
-19.3
-19.36
Profit Margin (%)
-4
-5
-4
1
2
4
3
14
16
9
20
31
23
11
-2
-2
Working Capital
50
71
47
51
47
49
44
62
79
93
100
138
165
155
156
156
LT Debt
17
14
27
28
29
24
26
30
38
40
52
70
70
60
52
52
Total Equity
- -
- -
- -
- -
- -
- -
-6.6
0.77
-0.75
- -
- -
5.46
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
-24.96
4.16
-7.24
- -
- -
10.86
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
15
15
16
LT Borrowings
152
153
151
LT Finance Leases
5
5
5
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
60
60
60
Market Capitalization
48
40
27

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
49
48
47
Cash, Cash Equivalents & STI
4
4
3
Accounts Receivable, Net
11
12
13
Inventories
4
4
4
Total Current Liabilities
42
42
49
Payables & Accruals
- -
- -
- -
ST Debt
15
15
16
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.73%
7.49%
-12.81%
Free Cash Flow
108.69%
149.72%
78.6%
Net Income, GAAP
19.79%
-111.36%
32.67%
Sales/Revenue/Turnover
28.21%
38.42%
0.25%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
19
21
19
11
71
2024
17
24
23
26
90
2025
22
26
24
18
90

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
-0.08
- -
-0.04
-0.1
-0.26
2024
-0.02
-0.04
-0.05
-0.1
-0.22
2025
-0.06
-0.05
-0.04
-0.13
-0.29

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
- -
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
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Business
Photon Energy N.V. (WSE: PEN) develops, constructs, owns and operates photovoltaic power plants and provides comprehensive renewable energy solutions worldwide. The company operates through key segments including Solutions, which encompasses project development, engineering, procurement and construction (EPC) services for turnkey photovoltaic systems; Technology, which wholesales, imports and exports photovoltaic components via its eShop for installers across Europe; Investments, focused on proprietary solar power plants and electricity generation; Operations and Maintenance, delivering full lifecycle services for over 1.2 GWp of solar assets globally; and Other, covering energy trading, virtual power plant aggregation exceeding 480 MW, demand response services, clean water solutions such as water treatment and remediation including patented PFAS removal technology, and environmental cleanup. It serves commercial, industrial and utility customers with customized rooftop and ground-mounted solar systems, energy storage, flexibility optimization and trading from renewables like solar, wind and biogas in markets including Poland and Hungary; target regions span Europe (Czech Republic, Hungary, Poland, Romania, Slovakia), Australia and South Africa. Founded in 2008 by Georg Hotar and Michael Gartner and headquartered at Barbara Strozzilaan 201 in Amsterdam, Netherlands, the group maintains offices in multiple countries and lists shares on the Warsaw, Prague, Frankfurt and XETRA exchanges. Recent developments include a Q2 2025 revenue increase to EUR 25.7 million driven by PV technology sales and capacity market activities; a May 2025 EPC and O&M contract for a 34 MW solar project in Romania with Hyperion Renewables; EBRD and EU financing in 2024 for solar portfolio expansion; a January 2024 project sale and development partnership with INWE Group for up to 11.5 MW AC of Polish PV assets; addition of eight Romanian plants totaling 31.5 MWp to its portfolio; and acquisition by Project Better Energy in November 2025, enhancing its UK commercial solar capabilities.