Zeo Energy Corp. key statistics and ratios

In fiscal 2025, Zeo Energy Corp. had an operating margin of -29.6%, debt equal to 188.2% of equity and a current ratio of 2.69. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Zeo Energy Corp.: financial ratios, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	99.9%	48.0%	55.2%	51.1%
Operating margin	4.7%	−14.8%	−29.6%	−16.6%
Net margin	−2.7%	−3.6%	−20.2%	−15.4%
Free-cash-flow margin	10.0%	−12.4%	−14.3%	−8.7%
Return on equity	−9.8%	—	—	−151.8%
Return on assets	−6.2%	−4.9%	−23.8%	−19.6%
Asset turnover	2.28	1.34	1.18	1.27
Current ratio	1.05	1.26	2.69	1.56
Debt to equity	0.0%	—	188.2%	0.5%
Interest cover (operating income ÷ interest)	46.4x	n/m	n/m	n/m
SG&A as % of revenue	0.1%	—	—	—
Capital spending as % of revenue	0.9%	0.5%	1.8%	1.1%
Dividends and buybacks ÷ free cash flow	>999%	—	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

Zeo Energy Corp.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	50.2%	73.6%	45.5%	59.8%	57.9%	51.9%	42.5%	47.1%
Operating margin	−15.2%	−6.0%	−153.8%	−15.8%	−8.3%	−11.8%	−36.1%	−18.5%
Net margin	−2.2%	−2.3%	−72.4%	−13.3%	−13.5%	−10.8%	−26.6%	−14.4%
Free-cash-flow margin	1.1%	18.2%	−30.0%	−15.0%	−28.6%	12.2%	−8.0%	−4.1%
Current ratio	1.56	1.26	0.75	0.76	2.19	2.69	1.65	1.56
Debt to equity	—	—	—	—	—	188.2%	0.4%	0.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 6 checks passed · June 30, 2026

What it owns · $56m

Short-term assets $20mLonger-term assets $36m

What it owes, and who funded it · $24m

Short-term liabilities $13mLonger-term liabilities $2mShareholders' equity $9m

Short-term assets cover short-term liabilities $20m of assets due within a year against $13m of liabilities due within a year.
Short-term assets cover long-term liabilities $20m short-term assets against $2m of longer-dated liabilities.
More cash than debt $2m of cash against $42,815 of debt.
Debt below 40% of shareholders' equity Debt is 0% of equity.
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 −$5m of operating cash flow against $42,815 of debt.
Operating profit covers interest at least five times over Operating income of −$12m against $198,484 of interest.

From Zeo Energy Corp.'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.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

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

Compare with peers

Head to head: SMXT vs ZEO KAZR vs ZEO ONEG vs ZEO

More: Construction & Engineering stocks compared, Industrials sector, rankings of US companies

Figures from Zeo Energy Corp.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Zeo Energy Corp.