Solid Power vs Expion Energy
Solid Power is the larger business, with $21.7m of revenue in fiscal 2025 against $9.7m for Expion Energy (2.3 times as much). Expion Energy grew faster (71.6% against 8.0%). Expion Energy kept more of each dollar of sales as profit: a net margin of -64.6% against -429.5%. Solid Power carries less debt relative to equity (0.0% against 3.0%).
| Latest fiscal year | Solid PowerSLDP, 2025 | Expion EnergyXPON, 2025 |
|---|---|---|
| Revenue | $21.7m | $9.7m |
| Revenue growth | 8.0% | 71.6% |
| Net income | −$93.4m | −$6.2m |
| Operating margin | -463.7% | -110.9% |
| Net margin | -429.5% | -64.6% |
| Return on equity | -22.6% | -137.7% |
| Free cash flow | −$83.6m | −$6.1m |
| Cash | $21.6m | $3.0m |
| Total debt | $0 | $197,245 |
| Debt to equity | 0.0% | 3.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $3.6m | — |
| Employees | 230 | 22 |
| Market value | $458m | $3.5m |
| Price vs our value range | — | — |
| Moat score | 17 (Weak) | 18 (Weak) |
| Insider trades, 12 months | 0 buys, 2 sales | 0 buys, 0 sales |