Beam Global (NASDAQ: BEEM)

Sector: Technology Industry: Solar CIK: 0001398805
Market Cap 21.78 Mn
P/B 0.82
P/E -0.74
P/S 0.79
ROIC (Qtr) -105.61
Div Yield % 0.00
Rev 1y % (Qtr) -49.59
Total Debt (Qtr) 1.56 Mn
Debt/Equity (Qtr) 0.06
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About

Beam Global, referred to as Beam, operates in the clean-technology industry with the ticker symbol BEEM. The company is recognized for its development, manufacturing, and sale of high-quality, renewably energized products. These products cater to various sectors, including electric vehicle charging infrastructure, energy storage, energy security, disaster preparedness, street lighting, telecommunications, and energy infrastructure. With factories in San Diego, Chicago, and Kraljevo, Serbia, Beam's operations span across multiple countries and regions. Beam...

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Investment thesis

Bull case

  • Healthy cash reserves of 3.47M provide 5.39x coverage of short-term debt 644000, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 37.25M provides 23.93x coverage of total debt 1.56M, indicating robust asset backing and low credit risk.
  • Tangible assets of 37.25M provide exceptional 16.04x coverage of deferred revenue 2.32M, showing strong service capability backing.
  • Robust tangible asset base of 37.25M provides 3.43x coverage of working capital 10.85M, indicating strong operational backing.
  • Tangible assets of 37.25M provide robust 9.04x coverage of other current liabilities 4.12M, indicating strong asset backing.

Bear case

  • Operating cash flow of (5.85M) provides insufficient coverage of deferred revenue obligations of 2.32M, which is -2.52x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (5.85M) shows concerning coverage of stock compensation expenses of 4.08M, with a -1.43 ratio indicating potential earnings quality issues.
  • Free cash flow of (6.61M) provides weak coverage of capital expenditures of 757000, with a -8.73 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (29.36M) show weak coverage of depreciation charges of 3.53M, with a -8.32 ratio indicating high capital intensity and potential reinvestment needs.
  • Operating cash flow of (5.85M) barely covers operating expenses of 10.78M with a -0.54 ratio, suggesting thin operational efficiency margins and limited flexibility.

Product and Service Breakdown of Revenue (2024)

Geographical Breakdown of Revenue (2024)

Peer comparison

Companies in the Solar
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 FSLR First Solar, Inc. 24.22 Bn 17.30 4.80 0.55 Bn
2 NXT Nextpower Inc. 18.09 Bn 30.50 5.02 0.00 Bn
3 ENPH Enphase Energy, Inc. 6.00 Bn 34.84 4.07 1.20 Bn
4 RUN Sunrun Inc. 4.28 Bn -1.73 1.85 14.69 Bn
5 SEDG Solaredge Technologies, Inc. 2.16 Bn -3.68 2.12 0.40 Bn
6 SHLS Shoals Technologies Group, Inc. 1.87 Bn 56.32 4.32 0.17 Bn
7 ARRY Array Technologies, Inc. 1.73 Bn -18.82 1.30 0.68 Bn
8 JKS JinkoSolar Holding Co., Ltd. 1.37 Bn -2.86 0.14 6.93 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.45 1.41
EV to Cash from Ops. EV/CFO -3.43 3.45
EV to Debt EV to Debt 12.88 6.34
EV to EBIT EV/EBIT -0.68 22.16
EV to EBITDA EV/EBITDA -0.76 5.58
EV to Free Cash Flow [EV/FCF] EV/FCF -3.03 9.74
EV to Market Cap EV to Market Cap 0.92 2.40
EV to Revenue EV/Rev 0.72 312.86
Price to Book Value [P/B] P/B 0.82 0.12
Price to Earnings [P/E] P/E -0.74 -3.59
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -9.53
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.00
Dividend per Basic Share Div per Share (Qtr) 0.00 0.00
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 0.00
Interest Coverage Int. cover (Qtr) -1,129.42 -54.67
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -30.29 -54.29
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -30.32 50.84
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.00
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -150.35 3.75
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -228.25 -309.44
EBIT Growth (1y) % EBIT 1y % (Qtr) -151.13 -42.85
EBT Growth (1y) % EBT 1y % (Qtr) -150.63 -48.74
EPS Growth (1y) % EPS 1y % (Qtr) -96.91 -74.61
FCF Growth (1y) % FCF 1y % (Qtr) -108.39 4.39
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -24.52 701.13
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.62 0.65
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 0.31 0.39
Current Ratio Curr Ratio (Qtr) 1.98 1.43
Debt to Equity Ratio Debt/Equity (Qtr) 0.06 0.31
Interest Cover Ratio Int Coverage (Qtr) -1,129.42 -54.67
Times Interest Earned Times Interest Earned (Qtr) -1,129.42 -54.67
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -93.40 -907.38
EBIT Margin % EBIT Margin % (Qtr) -106.13 -994.26
EBT Margin % EBT Margin % (Qtr) -106.23 -1,508.47
Gross Margin % Gross Margin % (Qtr) 15.00 10.82
Net Profit Margin % Net Margin % (Qtr) -105.90 -1,462.08