Ideal Power Inc. is a US-listed company in the electrical components & equipment industry. Its financial year ends in December.
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Third-party market data · may be delayed
Not valued: the figures our models need are missing or failed our data-quality checks.
No model value: free cash flow after stock pay is not positive. How we value companies.
Ideal Power Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Ideal Power has little or no product revenue yet; it used $9m of cash in the twelve months to June 2026. The diluted share count is up 28.8% on a year earlier, which dilutes existing holders. It passes 2 of our 2 financial-health checks.
Our models give no value for Ideal Power at present, so past values are not shown.
Source: 10-Q filed August 13, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Ideal Power Inc.'s trailing-twelve-month revenue grew 57.2% year on year, with a free-cash-flow margin of -31118.8%. Where it stands out: change in growth rate of +23.9pp ranks 5 of 57 electrical components & equipment companies we cover. Where it lags: operating margin of -40605.1% ranks 53 of 53 electrical components & equipment companies we cover.
Current signal Balance sheet growing far ahead of sales: Total assets grew 201% year over year while revenue grew 57% — the balance sheet is expanding 144 points faster than the business it supports.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
We value Ideal Power Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.53 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | — 0 | Does not apply: no positive value |
| Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | — | No model applies: the filings don’t yet support a value. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Ideal Power Inc. with Electrical Components & Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Now |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share price | $80.00 | $33.00 | $14.20 | $2.48 | $2.30 | $8.17 | $12.06 | $10.70 | $7.77 | $7.55 | $3.09 | $2.43 |
| Market value | $68m | $32m | $19m | $3m | $4m | $29m | $72m | $66m | $48m | $62m | $28m | $28m |
| + Net debt (− = net cash) | −$15m | −$4m | −$10m | −$3m | −$2m | −$3m | −$22m | −$16m | −$8m | −$16m | −$6m | −$41m |
| Enterprise value | $53m | $27m | $9m | $645712 | $1m | $26m | $49m | $50m | $40m | $46m | $22m | −$13m |
| Multiples | ||||||||||||
| Price / sales | 16.0x | 19.3x | — | — | — | 67.5x | 124.2x | n/m | n/m | n/m | n/m | n/m |
| Price / earnings | — | — | — | — | — | — | — | — | — | — | — | — |
| Price / free cash flow | — | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — |
Weak moat
How hard Ideal Power's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Cash operating profit has been a median -25.0% of total assets over 10 years.
Gross margin has been a median 0.0%, moving by 40.0 percentage points (standard deviation) across 10 years.
Operating margin has been a median -3423.0%; its worst year was -60413.4%.
Free cash flow was positive in 1 of 10 years, at a median -2800.4% of revenue.
The diluted share count rose 136.1% over five years; stock-based pay has been a median 613.1% of revenue.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
Next results: November 12, 2026, before the open.
No analyst estimates are published for Ideal Power Inc.: too few analysts cover it.
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Mar 2026 | −$0.29 | −$0.33 | −13.8% |
| Dec 2025 | −$0.31 | −$0.21 | +32.3% |
| Sept 2025 | −$0.30 | −$0.32 | −6.7% |
| Jun 2025 | −$0.25 | −$0.33 | −32.0% |
Adjusted EPS as companies report it, against the average analyst estimate.
Last 12 months −56.7%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $19240 | $30250 | +57.2% |
| P/S multiple | n/m | n/m | −64.5% |
| Share count | 9m | 12m | −22.3% |
Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| IPWR | +48% | −11% | −27% | −3% | −59% | −21% |
| Industry peers (median) | −6% | −34% | −16% | −8% | +14% | −36% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| IPWR | 58% | 42% | 42% | 42% | 33% | 36% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| IPWR | −69% | −41% | −44% | −56% | −66% | −73% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 98% from November 4, 2015 to March 23, 2020. Getting back needed a 5867% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 13, 2026 | +19.4% | +0.5% | +9.4% | −0.7% |
| May 14, 2026 | +13.8% | −0.4% | +27.9% | +15.6% |
| March 10, 2026 | +5.7% | −0.3% | −2.1% | −10.0% |
| November 13, 2025 | −19.7% | −1.7% | −27.0% | −24.1% |
| August 14, 2025 | +34.4% | −0.2% | +26.2% | +36.4% |
| May 15, 2025 | −1.4% | +1.1% | +0.5% | −12.7% |
| February 27, 2025 | +10.1% | −0.1% | −4.8% | −3.6% |
| November 14, 2024 | −12.4% | −1.9% | −11.6% | −4.0% |
| August 14, 2024 | −6.0% | +2.0% | −3.8% | −16.2% |
| May 15, 2024 | +0.9% | +1.0% | −1.2% | −1.4% |
| February 29, 2024 | −5.1% | +1.3% | +15.3% | −26.6% |
| November 14, 2023 | +6.2% | +2.2% | +8.8% | −1.6% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q3 | $154K |
| FY23 Q4 | $198.9K |
| FY24 Q1 | $276.9K |
| FY24 Q2 | $143.1K |
| FY24 Q3 | $142.1K |
| FY24 Q4 | $86K |
| FY25 Q1 | $19.3K |
| FY25 Q2 | $19.2K |
| FY25 Q3 | $43.1K |
| FY25 Q4 | $37.7K |
| FY26 Q1 | $25.7K |
| FY26 Q2 | $30.3K |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q3 | -51.2% |
| FY23 Q4 | -2.2% |
| FY24 Q1 | 250.9% |
| FY24 Q2 | -12.3% |
| FY24 Q3 | -7.7% |
| FY24 Q4 | -56.7% |
| FY25 Q1 | -93.0% |
| FY25 Q2 | -86.6% |
| FY25 Q3 | -69.6% |
| FY25 Q4 | -56.1% |
| FY26 Q1 | 33.3% |
| FY26 Q2 | 57.2% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q3 | -6400.5% |
| FY23 Q4 | -5205.4% |
| FY24 Q1 | -3697.4% |
| FY24 Q2 | -7503.0% |
| FY24 Q3 | -7598.1% |
| FY24 Q4 | -12868.7% |
| FY25 Q1 | -58919.2% |
| FY25 Q2 | -60413.4% |
| FY25 Q3 | -27226.0% |
| FY25 Q4 | -28979.0% |
| FY26 Q1 | -45871.2% |
| FY26 Q2 | -40605.1% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q3 | -4748.6% |
| FY23 Q4 | -3707.1% |
| FY24 Q1 | -2699.7% |
| FY24 Q2 | -5509.6% |
| FY24 Q3 | -5898.0% |
| FY24 Q4 | -10391.3% |
| FY25 Q1 | -47227.6% |
| FY25 Q2 | -48707.4% |
| FY25 Q3 | -22344.0% |
| FY25 Q4 | -24530.7% |
| FY26 Q1 | -36360.8% |
| FY26 Q2 | -31118.8% |
| Fiscal year | 2012 Dec 2012 | 2013 Dec 2013 | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||||||||
| Revenue | 1 | 2 | 2 | 4 | 2 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Gross profit | 0 | −0 | −0 | 0 | −0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | −0 | −0 | 0 |
| EBITDA | −3 | −4 | −7 | −10 | −11 | −4 | −4 | −3 | −4 | −5 | −7 | −10 | −11 | −11 | −12 |
| Operating income | −3 | −4 | −7 | −10 | −11 | −4 | −4 | −3 | −4 | −5 | −7 | −10 | −11 | −11 | −12 |
| Net income | −5 | −10 | −7 | −10 | −11 | −10 | −8 | −4 | −8 | −5 | −7 | −10 | −10 | −11 | −12 |
| Diluted EPS | −$31.70 | −$49.00 | −$0.98 | −$1.23 | −$1.15 | −$0.79 | −$5.64 | −$2.38 | −$2.20 | −$0.80 | −$1.17 | — | — | — | −$1.02 |
| Growth (year on year) | |||||||||||||||
| Revenue | — | +67.9% | −5.2% | +137.4% | −61.8% | −100.0% | — | — | — | +34.6% | −64.7% | −2.2% | −56.7% | −56.1% | +57.2% |
| Margins | |||||||||||||||
| Gross margin | 0.3% | −13.5% | −22.0% | 9.1% | −19.1% | — | — | — | 0.0% | 0.0% | 0.0% | 19.2% | −8.6% | −60.1% | 0.6% |
| EBITDA margin | −265.0% | −213.1% | −382.4% | −240.4% | −651.5% | — | — | — | −921.6% | −813.9% | <−999% | <−999% | <−999% | <−999% | <−999% |
| Operating margin | −269.6% | −214.7% | −386.2% | −245.8% | −676.4% | — | — | — | −950.2% | −841.3% | <−999% | <−999% | <−999% | <−999% | <−999% |
| Net margin | −412.4% | −504.7% | −384.6% | −245.1% | −674.2% | — | — | — | <−999% | −827.6% | <−999% | <−999% | <−999% | <−999% | <−999% |
| Free-cash-flow margin | −193.2% | −175.4% | −323.9% | −207.5% | −644.0% | — | — | — | −708.4% | −750.4% | <−999% | <−999% | <−999% | <−999% | <−999% |
| Cash flow | |||||||||||||||
| Cash from operations | −2 | −3 | −5 | −8 | −10 | −7 | −7 | −3 | −3 | −4 | −6 | −7 | −9 | −9 | −9 |
| Capital spending | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −2 | −3 | −6 | −9 | −10 | −7 | −7 | −3 | −3 | −4 | −7 | −7 | −9 | −9 | −9 |
| Stock-based pay | 0 | 0 | 1 | 1 | 2 | 1 | 1 | 0 | 1 | 0 | 1 | 2 | 2 | 1 | 2 |
| Free cash flow after stock pay | −2 | −4 | −7 | −10 | −12 | −8 | −7 | −3 | −4 | −5 | −8 | −10 | −11 | −10 | −11 |
| Balance sheet | |||||||||||||||
| Cash | 2 | 14 | 8 | 15 | 4 | 10 | 3 | 3 | 3 | 23 | 16 | 8 | 16 | 6 | 41 |
| Total debt | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | — | 0 | 0 | 0 |
| Net debt (negative = net cash) | 0 | −14 | −8 | −15 | −4 | −10 | −3 | −2 | −3 | −22 | −16 | −8 | −16 | −6 | −41 |
| Diluted shares | — | — | — | — | — | 1m | 1m | 2m | 4m | 6m | 6m | 6m | 8m | 9m | 12m |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 1 | 5 | 12 | 1 | 24 | 0 | 0 | 6 |
| Gross profit | −1 | −1 | −19 | −2 | −2 | 0 | 0 | 2 |
| EBITDA | −2,813 | −2,668 | −2,734 | −3,049 | −2,926 | −1,852 | −3,598 | −3,523 |
| Operating income | −2,900 | −2,759 | −2,825 | −3,140 | −3,020 | −1,948 | −3,692 | −3,623 |
| Net income | −2,690 | −2,596 | −2,703 | −3,037 | −2,941 | −1,898 | −3,632 | −3,413 |
| Growth (year on year) | ||||||||
| Revenue | −64.4% | −91.2% | −84.8% | −4.2% | +>999% | −100.0% | −100.0% | +354.9% |
| Margins | ||||||||
| Gross margin | −172.7% | −9.6% | −157.1% | −172.7% | −6.6% | — | — | 30.9% |
| EBITDA margin | <−999% | <−999% | <−999% | <−999% | <−999% | — | — | <−999% |
| Operating margin | <−999% | <−999% | <−999% | <−999% | <−999% | — | — | <−999% |
| Net margin | <−999% | <−999% | <−999% | <−999% | <−999% | — | — | <−999% |
| Free-cash-flow margin | <−999% | <−999% | <−999% | <−999% | <−999% | — | — | <−999% |
| Cash flow | ||||||||
| Cash from operations | −2,222 | −2,550 | −2,067 | −2,359 | −2,548 | −2,162 | −2,035 | −2,438 |
| Capital spending | 129 | 4 | 11 | 30 | 70 | 8 | 142 | 10 |
| Free cash flow | −2,351 | −2,554 | −2,078 | −2,388 | −2,618 | −2,170 | −2,177 | −2,448 |
| Stock-based pay | 418 | 432 | 385 | 330 | 283 | −269 | 991 | 644 |
| Free cash flow after stock pay | −2,769 | −2,986 | −2,463 | −2,718 | −2,901 | −1,902 | −3,168 | −3,092 |
| Last 12 months unless stated | IPWR | ELPW | CETY | POLA | LNKS | NVX | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $30250 | $2m | $3m | $5m | $6m | $6m | $154m |
| Revenue growth, last 12 months | 57.2% | 430.7% | 89.4% | −61.4% | 8.5% | −4.1% | 10.6% |
| Revenue growth, 3-year average | −43.0% | — | −8.2% | −36.3% | — | — | 9.2% |
| Revenue growth, latest quarter | 354.9% | — | 57.4% | −62.4% | — | — | 10.2% |
| Gross margin | 0.6% | 4.0% | −1.4% | −78.1% | 8.9% | — | 29.3% |
| Operating margin | <−999% | −71.8% | −109.4% | −191.7% | −32.0% | >999% | −17.7% |
| Operating margin, 3-year average | <−999% | — | −124.1% | −92.4% | — | — | −32.6% |
| Net margin | <−999% | −271.3% | −258.7% | −207.9% | −33.7% | <−999% | −23.4% |
| Cash from operations / revenue | <−999% | −129.8% | −304.9% | −48.6% | −134.1% | −751.3% | −6.5% |
| Free-cash-flow margin | <−999% | −137.6% | −304.9% | −48.6% | −137.4% | <−999% | −11.0% |
| Free-cash-flow margin, 3-year average | <−999% | — | −209.6% | −22.2% | — | — | −6.8% |
| Stock pay / revenue | >999% | >999% | 5.8% | 43.9% | — | −20.1% | 2.5% |
| Change in share count | 28.8% | 1.2% | 15.0% | 22.9% | 959.6% | 37.2% | 10.0% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 57.2% | 10.6% | 10 of 57 |
| Change in growth rate Growth | +23.9pp | +0.0pp | 5 of 57 |
| Gross margin Profitability | 0.6% | 29.3% | 47 of 54 |
| Operating margin Profitability | -40605.1% | -20.0% | 53 of 53 |
| Net margin Profitability | -39282.8% | -23.4% | 57 of 57 |
| Free-cash-flow margin Cash generation | -31118.8% | -8.8% | 56 of 56 |
| Stock pay as % of revenue Cash generation | 5454.8% | 2.8% | 50 of 50 |
| Change in share count Balance sheet | 28.8% | 10.0% | 37 of 46 |
| Days sales outstanding Balance sheet | 360 days | 72 days | 50 of 50 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Awm Investment Company, Inc. | $7.2M | 1.3M | 21.3% | ▲ 12.5% |
| Aigh Capital Management LLC | $4.8M | 895K | 14.1% | ▼ 24.3% |
| Goldman Sachs Group Inc | $3.5M | 660K | 10.4% | ▲ 178.3% |
| Vanguard Capital Management LLC | $3.3M | 609K | 9.6% | ▲ 93.7% |
| Stifel Financial Corp | $2.5M | 469K | 7.4% | ▲ 475.7% |
| Bleichroeder LP | $2.1M | 400K | 6.3% | ▲ 33.3% |
| Baird Financial Group, Inc. | $1.7M | 326K | 5.2% | New |
| Marshall Wace, LLP | $1.7M | 318K | 5.0% | New |
| Jane Street Group, LLC | $1.4M | 269K | 4.2% | ▲ 1017.5% |
| Blackrock, Inc. | $729,877 | 136K | 2.2% | ▲ 12.0% |
| Geode Capital Management, LLC | $644,141 | 120K | 1.9% | ▲ 21.1% |
| Renaissance Technologies LLC | $540,041 | 101K | 1.6% | New |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ideal Power Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Turmelle Michael C Director | May 26, 2026 | Buy | 5,250 | $7.60 | $39,900 |
| Somo David M President and CEO | February 25, 2026 | Buy | 90,909 | $2.75 | $250,000 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
No trades in Ideal Power Inc. disclosed in the last 12 months; 2 earlier trades on record.
Next expected around November 12, 2026 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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