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SPI Energy Co., Ltd (SPIEF) fair value: what the stock is really worth

As of Jun 18, 2026: fair value of SPI Energy Co., Ltd $0.00, price $0.00, upside +0.0%, quality 27 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Technology · US

SE SPI Energy Co., Ltd logo Thin data Sep 24, 2026

SPI Energy Co., Ltd

SPIEF · US

Low PriorityFair Value upside is limited and quality is weak.

·Fair value $0.0001 · Fairly valued (+0.0%)
!Quality 27/100
!Mixed Growth (revenue 5y +4.8 %/yr)
!Loss-making · -11.8% net margin (TTM)
!negative free cash flow
!Mixed vs. peers (3/7)
!Narrow moat 11/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$8.19 $0.0001 Fair Value $0.0001 Mar 2021 Jun 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $0.0001 – $8.19 · the $0.0001 price screens below the $0.0001 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

SPI Energy Co., Ltd. operates as a renewable energy company in North America, Australia, Asia, and Europe.

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SPI Energy Co., Ltd. operates as a renewable energy company in North America, Australia, Asia, and Europe. The company offers solar storage and module; renewable energy system solutions to residential and small commercial markets; and EPC services to third party project developers, as well as develops, owns, and operates solar projects that sell electricity to the grid. It also provides commercial electric vehicles, EV charger solutions, electric pickup trucks and scooters, and other EV products. The company was formerly known as Solar Power, Inc. and changed its name to SPI Energy Co., Ltd. in January 2016. SPI Energy Co., Ltd. was founded in 2006 and is headquartered in Sacramento, California.

Stock analysis

SPI Energy Co., Ltd (SPIEF) currently trades at $0.0001, while our model-based Fair Value estimate is $0.0001, so the stock looks roughly fairly valued today (gap 0.0%).

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 85/100, which puts the evidence level at low.

Quality & growth

The Quality Score stands at 27/100 (below-average quality), in the Technology sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

SPI Energy Co., Ltd reported revenue of $178M in FY2022 versus $126M in FY2018, a compound +9.0%/yr. Reported net income was −$33.4M in FY2022.

Key figures

Market cap $3.2K · EPS (TTM) $−0.2400 · Net margin −18.8% · Return on equity −125% · Return on assets (EBIT) −7.6% · Operating margin 1.7% · Revenue (TTM) $210M · Revenue growth (YoY) +30.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (medium confidence).

What moves the price

The share trades about 99% below its 52-week high and at its 52-week low.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at 0%, SPIEF screens richer than that median.

Fair Value models

Bear $0.0001 Fair Value $0.0001 Bull $0.0001
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) $0.0001 $0.0001 $0.0002 51
All 1 models by family
Asset-Based
NCAV (Graham) $0.0001 $0.0001 $0.0002 51

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Quality Score breakdown

Overall quality 27/100

Of which business quality 27 · Market factors (momentum, volatility) 15

Profitability 13
Margins and returns on capital today
Quality Growth 79
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 14/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+9.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.8%
Revenue growth 16 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+74.5%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−142.7% (2017) → −15.0% (2022)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2022 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Solar · 103 stocks

Beats the industry median on 3/6 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 27 · Bottom 25%
Fair Value upside +0.0% · Above median
Profitability
Return on assets −3.7% · Below median
Net margin (TTM) −11.8% · Below median
Operating margin (TTM) 1.7% · Above median
Growth and dividend
Revenue growth 30.7% · Above median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)33 · sector 8
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 82
DIVIDEND (yield)0 · sector 26

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Solar stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
First Solar, Inc FSLR $176.93 $392.06 +122%
Nextpower Inc NXT $80.85 $88.94 +10%
Tongwei Co 600438 ¥11.12 ¥12.13 +9%
Waaree Energies Limited WAAREEENER ₹2,340 ₹2,709 +16%
Jinko Solar Co 688223 ¥3.75 ¥6.49 +73%
Hanwha Solutions Corporation 009830 29,200 KRW 9,611 KRW −67%
Hengdian Group 002056 ¥20.04 ¥31.86 +59%
CSI Solar Co 688472 ¥8.32 ¥4.88 −41%
Enphase Energy, Inc ENPH $30.91 $24.08 −22%
Premier Energies Limited PREMIERENE ₹896.40 ₹648.72 −28%

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Cite: Fair Value Calculator (2026). "SPI Energy Co., Ltd Fair Value". https://www.fairvalue-calculator.com/stock/SPIEF

Frequently asked questions

Is SPI Energy Co., Ltd (SPIEF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.0001 versus the last price from Jun 18, 2026 of $0.0001, about +0% upside (fairly valued).
What is the fair value of SPIEF?
Our model-based fair value for SPI Energy Co., Ltd is $0.0001 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Jun 18, 2026): $0.0001.
What is the quality score of SPIEF?
SPI Energy Co., Ltd has a Quality Score of 27/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for SPI Energy Co., Ltd (SPIEF)?
Our model-based price target is the fair value of $0.0001 (as of Sep 24, 2026) from 1 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the SPI Energy Co., Ltd stock forecast for 2026?
Our models put fair value at $0.0001, about +0% upside versus the last price from Jun 18, 2026 of $0.0001 (fairly valued). The calculation is refreshed regularly with new filings.
What is the revenue of SPI Energy Co., Ltd (SPIEF)?
SPI Energy Co., Ltd reported trailing-twelve-month revenue of about $210M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of SPI Energy Co., Ltd (SPIEF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SPI Energy Co., Ltd it is $0.0001 per share (as of Sep 24, 2026), against a price of $0.0001. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is SPI Energy Co., Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SPIEF trades below its calculated fair value: price $0.0001, fair value $0.0001, a gap of about +0% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SPIEF?
No. The price is what the market pays today ($0.0001); the fair value is what the company's own numbers justify ($0.0001). For SPI Energy Co., Ltd the two are $0.0000 per share apart. That gap is exactly why we show both numbers side by side.
How much is SPI Energy Co., Ltd worth?
The market values SPI Energy Co., Ltd at about $3.2K (market capitalisation, as of Sep 24, 2026). Per share that is $0.0001; our models calculate a fair value of $0.0001 per share.
How solid is the balance sheet of SPI Energy Co., Ltd (SPIEF)?
Balance-sheet figures for SPI Energy Co., Ltd (as of Sep 24, 2026): return on equity −124.5%. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is SPIEF from its 52-week high?
SPI Energy Co., Ltd trades at $0.0001, about 99% below its 52-week high of $0.0100 and at the low of $0.0001 (as of Jun 18, 2026). Distance from the high says nothing about value: that is what the fair value of $0.0001 is for.
Which stocks are comparable to SPI Energy Co., Ltd?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SPI Energy Co., Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price $0.0001, calculated fair value $0.0001 (+0%), Quality Score 27/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SPIEF calculated?
We run SPI Energy Co., Ltd through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.0001, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. SPI Energy Co., Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SPI Energy Co., Ltd (SPIEF)?
The latest price we hold is from Jun 18, 2026 and stands at $0.0001. Our model-based fair value is $0.0001, about +0% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SPI Energy Co., Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of SPI Energy Co., Ltd

How large is the market capitalisation of SPI Energy Co., Ltd (SPIEF)?
The market capitalisation of SPI Energy Co., Ltd is $3.2K. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of SPI Energy Co., Ltd (SPIEF)?
Earnings per share at SPI Energy Co., Ltd are $−0.2400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of SPI Energy Co., Ltd (SPIEF)?
The net margin of SPI Energy Co., Ltd is −18.8% (fiscal year 2022). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SPI Energy Co., Ltd (SPIEF)?
The return on equity (ROE) of SPI Energy Co., Ltd is −125% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SPI Energy Co., Ltd (SPIEF)?
On an EBIT basis the return on assets of SPI Energy Co., Ltd is −7.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SPI Energy Co., Ltd (SPIEF)?
The operating margin of SPI Energy Co., Ltd is 1.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SPI Energy Co., Ltd (SPIEF)?
Revenue at SPI Energy Co., Ltd is growing +30.7% versus a year earlier (3y avg +21.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does SPI Energy Co., Ltd (SPIEF) generate?
The free cash flow of SPI Energy Co., Ltd is −$24.2M (fiscal year 2022). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does SPI Energy Co., Ltd (SPIEF) carry?
The net debt of SPI Energy Co., Ltd is $71.7M (fiscal year 2022). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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