SolarMax Technology (SMXT) Debt to Equity (2022 - 2026)
SolarMax Technology (SMXT) reported Debt to Equity of -$2.02 for Q1 2026, down 160.09% year-over-year from $3.37 in Q1 2025, and down 135.47% on a QoQ basis from -$0.86 in Q4 2025.
SolarMax Technology (SMXT) has 5 years of Debt to Equity data on file, last reported at -$2.02 in Q1 2026.
- Quarterly Debt to Equity fell 160.09% year-over-year to -$2.02 in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$2.02 (down 160.09% YoY) and the FY2025 annual result came in at -$0.86, down 30.98% from the prior year.
- Debt to Equity slipped to -$2.02 in Q1 2026 per SMXT's latest filing, from -$0.86 in the prior quarter.
- Across five years, Debt to Equity topped out at -$0.57 in Q4 2023 and bottomed at -$16.7 in Q1 2024.
- The 5-year median for Debt to Equity is -$0.89 (2025), against an average of -$2.76.
- The widest annual swing landed in 2025, when Debt to Equity jumped 95.34%; it then sank 160.09% in 2026.
- Tracing SMXT's Debt to Equity over 5 years: stood at -$1.67 in 2022, then surged by 65.99% to -$0.57 in 2023, then slipped by 15.9% to -$0.66 in 2024, then tumbled by 30.98% to -$0.86 in 2025, then sank by 135.47% to -$2.02 in 2026.
- Per Business Quant, the three latest SMXT Debt to Equity figures stand at -$2.02 (Q1 2026), -$0.86 (Q4 2025), and -$0.89 (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt/Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 26.65 Bn | 24.22 Bn | 486.13 Mn | 0.04 |
| 2 | Nextpower | 17.99 Bn | 16.90 Bn | 297.38 Mn | - |
| 3 | Canadian Solar | 15.11 Bn | 15.69 Bn | 124.40 Mn | 1.36 |
| 4 | Enphase Energy | 8.19 Bn | 7.26 Bn | 100.39 Mn | 0.52 |
| 5 | Solaredge Technologies | 3.80 Bn | 3.25 Bn | 68.28 Mn | - |
| 6 | Sunrun | 3.38 Bn | 4.27 Bn | 543.70 Mn | 0.13 |
| 7 | Shoals Technologies | 1.60 Bn | 1.60 Bn | 41.01 Mn | 0.30 |
| 8 | Array Technologies | 1.25 Bn | 1.05 Bn | 63.00 Mn | -3.11 |
| 9 | JinkoSolar Holding | 677.44 Mn | 2.29 Bn | 147.66 Mn | 0.71 |
| 10 | SolarMax Technology | 30.01 Mn | 25.71 Mn | 3.05 Mn | -2.02 |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -2.02 |
| Dec 31, 2025 | -0.86 |
| Sep 30, 2025 | -1.83 |
| Jun 30, 2025 | -0.82 |
| Mar 31, 2025 | -0.50 |
| Dec 31, 2024 | -0.82 |
| Sep 30, 2024 | -1.86 |
| Jun 30, 2024 | -4.76 |
| Mar 31, 2024 | -16.70 |
| Dec 31, 2023 | -0.57 |
| Dec 31, 2022 | -1.67 |