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Tecogen Inc. (TGEN) stock

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NYSE: TGEN NYSE Industrial Machinery & Supplies & Components Next results ~November 12, 2026

E Fundamentals grade

Tecogen Inc. is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$0.9

Price-to-sales vs peers

Base case. Range ~$0.9–$2.8. Sales per share times peers' typical price-to-sales; used only when earnings are negative.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Tecogen Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders6 buying, 0 selling8 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds38 adding, 28 cuttingOf 8 active managers that changed their stake, 5 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Tecogen files

Where Tecogen stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $25m, down 6.5% on a year earlier, against growth of 10.2% a quarter earlier. That puts it 61 of 64 for growth among the industrial machinery & supplies & components companies we cover. Free-cash-flow margin fell to -48.2% from -1.9% a year earlier. Operating margin narrowed to -42.8% from -15.3%. The diluted share count is up 18.6% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 2 of our 3 financial-health checks. Our price-to-sales vs peers value is $1.09 a share, against a share price of $2.36.

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.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Tecogen Inc.'s trailing-twelve-month revenue fell 6.5% year on year, with a free-cash-flow margin of -48.2%. Where it lags: revenue growth of -6.5% ranks 71 of 75 industrial machinery & supplies & components companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 2287.6% while net income fell 145.1%: a 2142pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Results due soon. Results are expected around 11 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 6.5% over the last 12 months.
  • Growth slowing. The growth rate is 16.7 points lower than a quarter earlier.
  • Loss-making. Operating margin is -42.8%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 27.5 points on a year ago.
  • Burning cash. Free cash flow was -48.2% of revenue over the last 12 months.

Latest results: FY2026 Q2

Filed August 13, 2026
Earnings per share
-$0.07 against an average estimate of -$0.08: beat by 12.5%
Revenue
$6m, down 21.2% on a year earlier
Share reaction
+3.2% in the first session after the results on August 12, 2026, against +0.9% for the S&P 500
Next report
November 12, 2026; average EPS estimate -$0.08

Tecogen's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.5%
  • 1 week-12.1%
  • 1 month-30.4%
  • This year-63.6%
  • 1 year-81.0%
  • 5 years+4.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$24.6M
Operating margin
-42.8%
Net margin
-42.3%
EPS (TTM, diluted)
$-0.35

Growth

Revenue growth
−6.5%
Change in growth rate
−16.7 pts
Share count change
+18.6%

Cash

Free cash flow (TTM)
-$11.8M
FCF margin
-48.2%
Stock pay % of revenue
1.8%

Earnings

Last results
August 12, 2026
Next results (est.)
November 11, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Tecogen Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Tecogen Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.51 times a 4.5% equity risk premium.

Value per share by model
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. ~$0.9 ~$0.9–$2.8 Included, half weight
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. ~$0.9 ~$0.9–$2.8 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Tecogen Inc. with Industrial Machinery & Supplies & Components 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.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$3.50$4.20$2.70$3.63$2.12$1.22$1.20$1.25$0.81$1.47$4.94$1.80
Market value$59m$81m$63m$90m$53m$30m$30m$31m$20m$36m$135m$53m
+ Net debt (− = net cash)−$5m−$4m−$2m−$272552−$877676$383981−$4m−$2m−$1m−$5m−$12m−$7m
Enterprise value$54m$77m$61m$90m$52m$31m$27m$29m$19m$31m$122m$47m
Multiples
Price / sales 2.8x3.3x1.9x2.5x1.6x1.1x1.2x1.2x0.8x1.6x5.0x2.2x
Price / earnings ——n/m———8.2x—————
Price / free cash flow —————22.5x80.7x——11.8x——
EV / EBITDA ——75.5x—————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

35 /100

Weak moat

How hard Tecogen'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.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -16.1% of total assets over 9 years.

  • Pricing power 13 / 20

    Gross margin has been a median 40.9%, moving by 3.0 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -15.9%; its worst year was -42.8%.

  • Cash conversion 1 / 20

    Free cash flow was positive in 1 of 10 years, at a median -6.1% of revenue.

  • Discipline 11 / 20

    The diluted share count rose 18.6% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 12, 2026. Analysts expect revenue of $6m and EPS of −$0.08 (range −$0.08 to −$0.08) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.29 — $26m −5%
Next $0.15 +152% $59m +129%

Next year's EPS estimate has moved −28.6% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +20.8% on 90 days ago. In the last 30 days, 0 analysts raised Tecogen Inc.'s forecast and 1 cut it.

Consensus EPS forecast Tecogen Inc., last 90 days
−$0.40 −$0.20 $0.00 $0.20 $0.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.24 Current fiscal year, 60 days ago: −$0.24 Current fiscal year, 30 days ago: −$0.24 Current fiscal year, 7 days ago: −$0.24 Current fiscal year, Now: −$0.29 −$0.29 Next fiscal year, 90 days ago: $0.21 Next fiscal year, 60 days ago: $0.21 Next fiscal year, 30 days ago: $0.21 Next fiscal year, 7 days ago: $0.21 Next fiscal year, Now: $0.15 $0.15

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.24$0.21
60 days ago −$0.24$0.21
30 days ago −$0.24$0.21
7 days ago −$0.24$0.21
Now −$0.29$0.15

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.08 −$0.07 +12.5%
Dec 2025 −$0.10 −$0.10 +4.2%
Sept 2025 −$0.05 −$0.07 −44.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

3 analysts, Oct 2026
Buy3100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202633
  2. Sep 202633

Counts of recommendations published by analysts covering Tecogen Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.8%
of tradable shares
Days to cover
8.27
at average volume
Short interest, 1 month
+4%
to October 15, 2026
Held by institutions
31%
of shares
Held by insiders
39.6%
of shares
Employees
119
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −82.0%

$9.98 on October 31, 2025 to $1.80

ThenNowEffect
Revenue (last 12 months) $26m $25m −6.5%
P/S multiple 9.5x 2.2x −77.1%
Share count 25m 30m −15.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +102.2%

$0.89 on November 3, 2023 to $1.80

ThenNowEffect
Revenue (last 12 months) $23m $25m +5.6%
P/S multiple 0.9x 2.2x +128.9%
Share count 25m 30m −16.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TGEN−2%+4%−35%+81%+237%−64%
Industry peers (median)+19%−15%+21%+2%+9%+5%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TGEN42%42%33%58%67%18%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TGEN−54%−47%−41%−25%−61%−74%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 89% from March 24, 2016 to April 19, 2024. Getting back needed a 832% gain, reached on June 6, 2025, 413 days after the low.

Price behaviour

52-week range
$1.80 – $9.73
From 52-week high
−81.5%
vs 50-day average
−33.7%
vs 200-day average
−52.6%
Volatility (1 year)
102%
Beta vs S&P 500
3.54

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±9.2%
After a week
7 up, 5 down
typical move ±13.6%
After a month
6 up, 6 down
typical move ±31.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 12, 2026 +3.2% +0.9% −17.2% −24.9%
May 12, 2026 +16.0% +0.4% +22.7% +30.7%
March 18, 2026 −23.2% −1.6% +1.8% +51.4%
November 12, 2025 −9.6% −1.6% −19.8% −21.5%
August 12, 2025 −4.5% +1.4% −5.1% −21.4%
May 12, 2025 +24.6% +4.0% +42.0% +92.4%
March 17, 2025 0.0% −0.3% +14.4% −12.6%
November 14, 2024 +2.2% −1.9% −4.4% +92.2%
August 8, 2024 +21.2% +2.8% +15.6% +24.2%
May 9, 2024 −2.1% +0.7% +10.3% +5.4%
March 14, 2024 0.0% −0.9% +7.1% −4.3%
November 8, 2023 −3.3% −0.7% −3.0% 0.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Tecogen Inc. in five measures

Fundamentals grade E
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Tecogen Inc.
$22M $24M $26M $28M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $23.8M Revenue (TTM), FY23 Q4: $25.1M Revenue (TTM), FY24 Q1: $25.9M Revenue (TTM), FY24 Q2: $23.9M Revenue (TTM), FY24 Q3: $22.4M Revenue (TTM), FY24 Q4: $22.6M Revenue (TTM), FY25 Q1: $23.7M Revenue (TTM), FY25 Q2: $26.3M Revenue (TTM), FY25 Q3: $27.8M Revenue (TTM), FY25 Q4: $27.1M Revenue (TTM), FY26 Q1: $26.1M Revenue (TTM), FY26 Q2: $24.6M $24.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $23.8M
FY23 Q4 $25.1M
FY24 Q1 $25.9M
FY24 Q2 $23.9M
FY24 Q3 $22.4M
FY24 Q4 $22.6M
FY25 Q1 $23.7M
FY25 Q2 $26.3M
FY25 Q3 $27.8M
FY25 Q4 $27.1M
FY26 Q1 $26.1M
FY26 Q2 $24.6M
Revenue growth, TTM YoY Tecogen Inc.
-20% -10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -14.0% Revenue growth, TTM YoY, FY23 Q4: 0.5% Revenue growth, TTM YoY, FY24 Q1: 13.1% Revenue growth, TTM YoY, FY24 Q2: 2.8% Revenue growth, TTM YoY, FY24 Q3: -5.6% Revenue growth, TTM YoY, FY24 Q4: -10.0% Revenue growth, TTM YoY, FY25 Q1: -8.6% Revenue growth, TTM YoY, FY25 Q2: 9.8% Revenue growth, TTM YoY, FY25 Q3: 24.0% Revenue growth, TTM YoY, FY25 Q4: 19.7% Revenue growth, TTM YoY, FY26 Q1: 10.2% Revenue growth, TTM YoY, FY26 Q2: -6.5% -6.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -14.0%
FY23 Q4 0.5%
FY24 Q1 13.1%
FY24 Q2 2.8%
FY24 Q3 -5.6%
FY24 Q4 -10.0%
FY25 Q1 -8.6%
FY25 Q2 9.8%
FY25 Q3 24.0%
FY25 Q4 19.7%
FY26 Q1 10.2%
FY26 Q2 -6.5%
Operating margin (TTM) Tecogen Inc.
-60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -16.8% Operating margin (TTM), FY23 Q4: -17.6% Operating margin (TTM), FY24 Q1: -15.5% Operating margin (TTM), FY24 Q2: -19.7% Operating margin (TTM), FY24 Q3: -23.2% Operating margin (TTM), FY24 Q4: -20.0% Operating margin (TTM), FY25 Q1: -17.2% Operating margin (TTM), FY25 Q2: -15.3% Operating margin (TTM), FY25 Q3: -18.8% Operating margin (TTM), FY25 Q4: -30.5% Operating margin (TTM), FY26 Q1: -37.5% Operating margin (TTM), FY26 Q2: -42.8% -42.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -16.8%
FY23 Q4 -17.6%
FY24 Q1 -15.5%
FY24 Q2 -19.7%
FY24 Q3 -23.2%
FY24 Q4 -20.0%
FY25 Q1 -17.2%
FY25 Q2 -15.3%
FY25 Q3 -18.8%
FY25 Q4 -30.5%
FY26 Q1 -37.5%
FY26 Q2 -42.8%
FCF margin (TTM) Tecogen Inc.
-60% -40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -8.4% FCF margin (TTM), FY23 Q4: -3.4% FCF margin (TTM), FY24 Q1: -1.7% FCF margin (TTM), FY24 Q2: -6.1% FCF margin (TTM), FY24 Q3: -3.4% FCF margin (TTM), FY24 Q4: 13.7% FCF margin (TTM), FY25 Q1: 6.9% FCF margin (TTM), FY25 Q2: -1.9% FCF margin (TTM), FY25 Q3: -13.1% FCF margin (TTM), FY25 Q4: -38.1% FCF margin (TTM), FY26 Q1: -46.5% FCF margin (TTM), FY26 Q2: -48.2% -48.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -8.4%
FY23 Q4 -3.4%
FY24 Q1 -1.7%
FY24 Q2 -6.1%
FY24 Q3 -3.4%
FY24 Q4 13.7%
FY25 Q1 6.9%
FY25 Q2 -1.9%
FY25 Q3 -13.1%
FY25 Q4 -38.1%
FY26 Q1 -46.5%
FY26 Q2 -48.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 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 11 15 16 19 21 24 33 36 33 28 24 25 25 23 27 25
Gross profit 5 6 5 6 8 9 13 14 12 11 12 11 10 10 10 9
EBITDA −2 −2 −3 −3 −2 −1 1 −5 −4 −6 −1 −2 −4 −4 −7 −9
Operating income −2 −2 −4 −4 −3 −1 0 −6 −5 −6 −1 −2 −4 −5 −8 −11
Net income −2 −2 −3 −4 −3 −1 0 −6 −5 −6 4 −2 −5 −5 −8 −10
Diluted EPS −$0.03 −$0.12 −$0.26 −$0.24 −$0.16 −$0.06 $0.00 −$0.23 −$0.19 −$0.25 $0.15 −$0.10 −$0.19 −$0.19 −$0.30 −$0.35
Growth (year on year)
Revenue — +37.9% +3.9% +22.0% +10.9% +14.2% +35.6% +8.1% −6.8% −15.5% −13.6% +2.5% +0.5% −10.0% +19.7% −6.5%
EBITDA — — — — — — — −684.2% — — — — — — — —
Net income — — — — — — — — — — — −166.2% — — — —
Diluted EPS — — — — — — — — — — — −166.7% — — — —
Margins
Gross margin 44.2% 38.4% 31.7% 33.1% 35.6% 38.0% 39.0% 37.9% 37.3% 38.3% 47.5% 44.3% 40.6% 43.6% 36.3% 36.2%
EBITDA margin −15.6% −11.8% −21.5% −17.7% −11.1% −3.0% 2.4% −13.2% −12.6% −19.6% −3.1% −7.7% −15.3% −17.6% −27.2% −38.6%
Operating margin −17.0% −13.1% −23.2% −19.1% −12.3% −4.1% 0.7% −15.4% −13.9% −21.1% −5.0% −9.4% −17.6% −20.0% −30.5% −42.8%
Net margin −14.2% −10.7% −21.8% −19.4% −12.7% −4.5% 0.1% −15.9% −14.1% −21.8% 15.1% −9.8% −18.3% −21.0% −30.5% −42.3%
Free-cash-flow margin −22.8% −22.1% −22.6% −27.7% −22.4% −11.7% −3.5% −13.1% −13.7% 4.8% 1.5% −6.7% −3.4% 13.7% −38.1% −48.2%
Cash flow
Cash from operations −2 −3 −3 −5 −5 −3 −1 −4 −4 1 0 −1 −1 4 −10 −12
Capital spending 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0
Free cash flow −3 −3 −4 −5 −5 −3 −1 −5 −5 1 0 −2 −1 3 −10 −12
Stock-based pay 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Free cash flow after stock pay −3 −4 −4 −5 −5 −3 −1 −5 −5 1 0 −2 −1 3 −11 −12
Balance sheet
Cash 2 8 8 1 5 4 2 0 1 1 4 2 1 5 12 7
Total debt 0 0 0 0 0 0 0 0 0 2 0 0 0 0 0 0
Net debt (negative = net cash) −2 −8 −8 −1 −5 −4 −2 −0 −1 0 −4 −2 −1 −5 −12 −7
Diluted shares 48m 13m 13m 16m 17m 19m 23m 25m 25m 25m 25m 25m 25m 25m 27m 30m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · June 30, 2026
What it owns · $32m
Short-term assets $24mLonger-term assets $8m
What it owes, and who funded it · $32m
Short-term liabilities $8mLonger-term liabilities $6mShareholders' equity $18m
  • Short-term assets cover short-term liabilities $24m of assets due within a year against $8m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $24m short-term assets against $6m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$11m against $153,298 of interest.

From Tecogen Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+18.6%
year over year
R&D spending
5.2%
of revenue
Days sales outstanding
62 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in industrial machinery & supplies & components
Last 12 months unless stated TGEN AETR FTEK CVR CPSH INLF Median
Revenue, last 12 months $25m $23m $27m $27m $32m $18m $1.4bn
Revenue growth, last 12 months −6.5% −42.7% 8.9% 7.1% 25.6% 16.5% 8.3%
Revenue growth, 3-year average 1.8% −47.8% −0.6% −5.2% 5.7% — 4.0%
Revenue growth, latest quarter −21.2% — 16.7% −0.8% 2.9% — 9.1%
Gross margin 36.2% 11.5% 44.7% 11.0% 14.1% 23.3% 35.2%
Operating margin −42.8% −61.0% −16.8% −8.3% −1.9% −31.6% 13.1%
Operating margin, 3-year average −25.9% −27.5% −15.5% −13.0% −5.7% — 13.7%
Net margin −42.3% −264.3% −12.8% −8.9% −0.1% −29.6% 8.9%
Cash from operations / revenue −47.2% −61.1% −0.8% −3.6% −5.2% −10.3% 11.9%
Free-cash-flow margin −48.2% −72.6% −4.3% −5.2% −8.6% −11.3% 8.8%
Free-cash-flow margin, 3-year average −18.7% −34.8% −4.0% −5.3% −9.7% — 9.8%
Stock pay / revenue 1.8% 3.5% 0.8% — 1.0% 27.9% 0.8%
Change in share count 18.6% 0.6% 1.5% 0.0% 19.1% 32.6% −0.0%

Median of all 76 companies we cover in industrial machinery & supplies & components. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

76 industrial machinery & supplies & components companies
Measure Company Peer median Rank
Revenue growth Growth -6.5% 8.3% 71 of 75
Change in growth rate Growth -16.7pp +1.2pp 71 of 75
Gross margin Profitability 36.2% 35.4% 32 of 70
Operating margin Profitability -42.8% 13.0% 70 of 75
Net margin Profitability -42.3% 8.9% 69 of 76
Free-cash-flow margin Cash generation -48.2% 9.1% 71 of 76
Stock pay as % of revenue Cash generation 1.8% 0.8% 56 of 70
Change in share count Balance sheet 18.6% -0.0% 66 of 73
Days sales outstanding Balance sheet 62 days 63 days 29 of 65

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Services $16.6M 61.4% ▲ 3.4%
Products $9.1M 33.7% ▲ 105.5%
Energy Production $1.3M 4.9% ▼ 37.0%
Products and services
Line of business Revenue Share YoY
Services $16.6M 61.4% ▲ 3.4%
Products $9.1M 33.7% ▲ 105.5%
Energy Service $1.3M 4.9% ▼ 37.0%

From Tecogen Inc.'s 10-K filed March 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$49.5M
Institutions reporting
69
Shares held vs prior quarter
▲ 21.7%
Positions opened / closed
20 / 13

Top buyers and sellers, Q2 2026: 38 institutions bought and 28 sold ; the biggest buyer was Portolan Capital Management, LLC (+1.1M shares) and the biggest seller Renaissance Technologies LLC (−272K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Portolan Capital Management, LLC $8.1M 1.6M 16.4% ▲ 249.7%
Vanguard Capital Management LLC $4.1M 789K 8.3% ▲ 2.4%
Bard Associates Inc $3.6M 682K 7.2% ▼ 0.9%
Clear Harbor Asset Management, LLC $3.4M 650K 6.9% 0.0%
Herald Investment Management Ltd $2.2M 420K 4.4% 0.0%
Gratia Capital, LLC $2M 389K 4.1% New
UBS Group AG $1.9M 363K 3.8% ▲ 13.5%
Meros Investment Management, LP $1.8M 353K 3.7% ▲ 21.2%
Palisades Investment Partners, LLC $1.7M 323K 3.4% ▼ 3.2%
Susquehanna International Group, LLP $1.6M 316K 3.3% ▲ 188.5%
Morgan Stanley $1.6M 302K 3.2% ▲ 293.2%
Raymond James Financial Inc $1.5M 290K 3.1% ▲ 56.2%

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 Tecogen Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $134,101 8 trades by 6 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $134,101 net buying
Insider Date Trade Shares Price Value
Ghoniem Ahmed Director April 24, 2026 Buy 12,723 $0.79 $10,051
Hirsch Susan B Director April 13, 2026 Buy 5,000 $3.73 $18,650
Lewis Earl Director March 27, 2026 Buy 5,000 $2.52 $12,600
Hirsch Susan B Director March 27, 2026 Buy 10,000 $2.54 $25,400
Lewis Earl Director March 26, 2026 Buy 5,000 $2.88 $14,400
Whiting John Kimball Iv General Counsel & Secretary March 23, 2026 Buy 10,000 $2.38 $23,800
Rangesh Abinand Chief Executive Officer March 20, 2026 Buy 3,000 $2.30 $6,900
Deschenes Roger P. CAO March 20, 2026 Buy 10,000 $2.23 $22,300

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.

Earnings dates and SEC filings

Results announcements

Next expected around November 11, 2026 estimated from the company's past filing pattern, not announced

  • August 12, 2026
  • May 12, 2026
  • March 18, 2026
  • November 12, 2025
  • August 12, 2025
  • May 12, 2025

Recent SEC filings

Data status

When each part of this page on Tecogen Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Tecogen Inc. in brief

What does Tecogen Inc. do?
Tecogen Inc. is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in December.
What is Tecogen Inc.'s stock ticker?
Tecogen Inc. trades under the ticker TGEN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Tecogen Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Tecogen Inc. reported revenue of $24.6M, 6.5% lower than a year earlier, according to its SEC filings.
What is Tecogen Inc.'s free cash flow?
Tecogen Inc.'s free-cash-flow margin is -48.2% of revenue over the trailing twelve months, ranking 71 of the 76 industrial machinery & supplies & components companies we cover.
Who are Tecogen Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Portolan Capital Management, LLC, Vanguard Capital Management LLC and Bard Associates Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Tecogen Inc.'s market cap?
On November 2, 2026, Tecogen Inc.'s market capitalisation was about $53.4M and net debt of -$6.8M. Market figures come from third-party market data and may be delayed.
Who are Tecogen Inc.'s competitors?
In our Industrial Machinery & Supplies & Components peer group, the companies closest to Tecogen Inc. are Aetherion Technologies Inc., Fuel Tech, Inc., Chicago Rivet & Machine Co, CPS Technologies Corp and Inlif Ltd. The side-by-side comparison below sets their revenue, margins and growth against Tecogen Inc.'s.
Are insiders buying or selling Tecogen Inc. stock?
Over the last 12 months, Tecogen Inc.'s directors and officers reported 8 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Tecogen Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Tecogen Inc. announces its own schedule.