T1 Energy Inc
- Open
- 4.36
- Day high
- 4.49
- Day low
- 4.33
- Prev close
- 4.27
- Volume
- 2.9M
- Mkt cap
- $1.3B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 4.6
- P/S
- 1.3
- Yield
- —
- Per share
- —
T1 Energy Inc (TE) is a Industrials company listed on NYSE. The stock is up 125% over the past year.
T1 Energy Inc (TE) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 12, 2026 | $-0.11 | $-0.14 | -25.6% | $250M | +21.0% |
| May 12, 2026 | $-0.12 | $0.01 | +108.6% | $178M | +86.1% |
| Mar 31, 2026 | $0.03 | $-0.61 | -2133.3% | $359M | -2.6% |
| Nov 14, 2025 | $0.06 | $-0.85 | -1516.7% | $90M | -75.5% |
| Aug 19, 2025 | $-0.02 | $-0.21 | -950.0% | $66M | -77.7% |
| May 15, 2025 | $-0.07 | $-0.16 | -128.6% | $65M | -69.1% |
| Mar 17, 2025 | $-0.13 | $-0.14 | -7.7% | $3M | — |
| Aug 9, 2024 | $-0.18 | $-0.19 | -5.6% | — | — |
| Feb 29, 2024 | $-0.25 | $-0.17 | +32.0% | — | — |
| Nov 9, 2023 | $-0.31 | $-0.07 | +77.4% | — | — |
| Aug 10, 2023 | $-0.26 | $-0.18 | +30.8% | — | — |
| May 15, 2023 | $-0.28 | $-0.20 | +28.6% | — | — |
TE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 26, 2026 | Matrai Balazs Peterdirector | Option | 744,431 | $0.95 |
| Aug 26, 2026 | Matrai Balazs Peterdirector | Tax | 351,845 | $2.01 |
| Jul 31, 2026 | Munro Andrewofficer: Chief Legal & Policy Officer | Option | 100,000 | $3.72 |
| Jul 31, 2026 | Gualy Jaime Eduardoofficer: Chief Operating Officer | Option | 91,600 | — |
| Jul 31, 2026 | Gualy Jaime Eduardoofficer: Chief Operating Officer | Tax | 29,383 | $3.72 |
| Jul 31, 2026 | Munro Andrewofficer: Chief Legal & Policy Officer | Tax | 38,989 | $3.72 |
| Jul 31, 2026 | Gualy Jaime Eduardoofficer: Chief Operating Officer | Option | 91,666 | $3.72 |
| Jul 6, 2026 | Hammond Robert O.director | Grant | 33,375 | — |
| Jul 6, 2026 | ANDERSON W RICHARDdirector | Grant | 22,695 | — |
| Jul 6, 2026 | Manners David J.director | Grant | 22,695 | — |
| Jul 6, 2026 | Matrai Balazs Peterdirector | Grant | 22,695 | — |
| Jul 6, 2026 | Strine Jessica Wirthdirector | Grant | 22,695 | — |
| Jul 6, 2026 | Steingart Danieldirector | Grant | 22,695 | — |
| Jun 25, 2026 | Bentzen Andreasofficer: Chief Technology Officer | Option | 25,000 | — |
| Jun 25, 2026 | Calio Joseph Evanofficer: Chief Financial Officer | Option | 125,000 | — |
Source: TE SEC Form 4 filings, latest Aug 26, 2026. For informational purposes only — not investment advice.
See the full TE insider & 13F page →T1 Energy Inc company profile
Overview
T1 Energy Inc (NYSE:TE) is a solar manufacturing company founded in 2018 and headquartered in Luxembourg, though it recently relocated its global operations to Austin, Texas. The company underwent a significant transformation in 2024 when it acquired Trina Solar's U.S. manufacturing assets and rebranded from FREYR Battery to T1 Energy. Originally focused on lithium-ion battery cell production for energy storage and electric vehicle applications, T1 Energy has pivoted to become a vertically integrated solar module and solar cell manufacturer serving the U.S. domestic market. The company went public in 2020 and has been building manufacturing capacity to capitalize on the growing demand for domestically produced renewable energy components driven by the Inflation Reduction Act.
Business
T1 Energy operates in the solar photovoltaic manufacturing industry, specifically focusing on the production of solar modules and solar cells that convert sunlight into electricity. Solar modules, also known as solar panels, are assemblies of photovoltaic cells that generate electrical power when exposed to sunlight. Solar cells are the fundamental building blocks within these modules that perform the actual conversion of light energy into electrical energy through the photovoltaic effect. The company currently operates one fully functional manufacturing facility called G1 Dallas in Texas, which produces solar modules with a capacity of approximately 3-5 gigawatts annually. A gigawatt represents one billion watts of power generation capacity - to put this in perspective, one gigawatt can power roughly 750,000 homes. T1 Energy is also developing a second facility called G2 Austin in Milam County, Texas, which will focus on manufacturing solar cells with a planned capacity of 5 gigawatts, targeting first production by Q4 2026. The company's strategy centers on vertical integration within the U.S. solar supply chain, meaning it aims to control multiple stages of solar panel production rather than relying on imported components. This approach is designed to maximize domestic content requirements under the Inflation Reduction Act, which provides tax incentives for domestically manufactured clean energy products. T1 Energy serves utility-scale solar projects, commercial installations, and distributed energy applications across the United States and internationally.
Revenue model
T1 Energy generates revenue primarily through product sales of solar modules to utility companies, commercial solar developers, and other customers in the renewable energy sector. The company operates under two main contracting approaches: cost-plus contracts with strategic partners that provide more predictable margins, and merchant sales at prevailing market prices that offer higher potential returns but greater price volatility. For 2025, T1 Energy has secured approximately 1.7 gigawatts of committed offtake volumes, representing contracted sales agreements with customers. The company also maintains merchant volume capacity for additional sales opportunities. Revenue is generated when solar modules are manufactured and delivered to customers, with payment terms typically structured around delivery milestones. The company's profitability is significantly influenced by several key factors. Raw material costs, particularly for silicon wafers, aluminum frames, and glass, directly impact manufacturing expenses and can fluctuate based on global commodity markets. Trade policies and tariffs on imported solar components affect both input costs and competitive positioning against foreign manufacturers. The Inflation Reduction Act provides substantial support through production tax credits (Section 45X credits) that can be monetized to improve margins, with T1 Energy expecting to benefit from approximately $2.5 billion in total tax credit value across its projects. Utilization rates at manufacturing facilities critically impact unit economics, as the company has significant fixed costs that must be spread across production volumes. Market demand for solar installations, influenced by utility procurement cycles and policy support for renewable energy, directly affects pricing power and sales volumes. Competition from lower-cost international manufacturers, particularly from China, creates ongoing margin pressure that T1 Energy attempts to offset through domestic content advantages and supply chain proximity to U.S. customers.
Competitive moat
T1 Energy's competitive moat is relatively narrow and primarily dependent on regulatory and policy advantages rather than fundamental technological or operational superiority. The company's strongest defensive position comes from its domestic manufacturing capabilities in the United States, which provides advantages under the Inflation Reduction Act's domestic content requirements. Customers seeking to maximize their tax credit benefits have incentives to purchase from domestic manufacturers like T1 Energy, creating a form of regulatory moat. The company's vertical integration strategy, combining both solar cell and module production, offers some differentiation by reducing supply chain dependencies and potentially improving cost control. However, this advantage is limited as other manufacturers can also pursue vertical integration, and the technology for solar manufacturing is widely available and not proprietary to T1 Energy. The competitive threats facing T1 Energy are substantial. Chinese manufacturers maintain significant cost advantages due to scale, government support, and lower labor costs, making them formidable competitors even with tariffs in place. Changes to trade policy or reductions in domestic content incentives could quickly erode T1 Energy's regulatory advantages. Additionally, other companies are also building domestic manufacturing capacity, including established players with deeper resources and broader market relationships. The solar manufacturing industry is characterized by commodity-like dynamics with limited product differentiation, making it difficult to sustain premium pricing. T1 Energy lacks strong brand recognition, proprietary technology, or exclusive customer relationships that would provide lasting competitive advantages. The company's moat is therefore primarily circumstantial, dependent on continued policy support and the current gap in domestic manufacturing capacity.
Risks & safety
T1 Energy presents significant financial risk with limited margin of safety for investors, characterized by substantial cash burn, high leverage, and execution uncertainty. • Cash burn and liquidity risk: The company burned $74 million in free cash flow in Q1 2025 and $154 million for full year 2024. With only $49 million in cash as of Q1 2025, T1 Energy faces near-term liquidity constraints and projects having over $100 million in cash by year-end, requiring successful execution of its business plan. • Debt burden: Total debt-to-equity ratio of 2.11x indicates high leverage. The company assumed $427 million in long-term debt from the Trina Solar acquisition and converted a construction loan to a $235 million term loan, creating substantial fixed obligations. • Valuation metrics: Trading at 0.97x price-to-book ratio suggests the market values the company near its stated book value, but negative earnings make traditional valuation metrics unreliable. The company has generated minimal revenue ($2.9 million in 2024) against significant operating losses. • Other considerations: The business model depends heavily on successful ramp-up of production, securing customer contracts, and maintaining policy support through the Inflation Reduction Act. Execution risk is high given the company's recent pivot from battery manufacturing to solar production and the competitive dynamics in solar manufacturing.
Recent development
T1 Energy has undergone a dramatic strategic transformation over the past two years, pivoting from lithium-ion battery manufacturing to solar module and cell production. In 2024, the company acquired Trina Solar's U.S. manufacturing assets, relocated its headquarters from Luxembourg to Austin, Texas, and rebranded from FREYR Battery to T1 Energy. This acquisition provided the company with an operational 3-5 gigawatt solar module manufacturing facility in Dallas, which began generating the company's first revenues in late 2024. The company has accelerated its expansion plans with the development of G2 Austin, a 5-gigawatt solar cell manufacturing facility located at Sandow Lakes Ranch in Milam County, Texas. This facility represents T1 Energy's move toward vertical integration, allowing the company to produce both solar cells and modules domestically. The G2 Austin project is targeting first production by Q4 2026 and is exploring various financing options including project financing, production tax credit monetization, and potential partnerships. Recent commercial developments include securing 1.7 gigawatts of committed offtake volumes for 2025 and signing new customer agreements, including a 253-megawatt module sales agreement announced in Q1 2025. The company is also exploring strategic partnerships, including discussions with Saudi Arabian partners for potential minority investments in both G1 and G2 facilities. T1 Energy has successfully converted its construction financing to a $235 million term loan and is working to monetize Section 45X Production Tax Credits to improve its financial position. The company has also divested non-core assets, including the sale of land in Coweta County, Georgia, and is exploring the sale of European business operations that have been reclassified as discontinued operations. These moves reflect T1 Energy's focus on building a domestic U.S. solar manufacturing platform while streamlining its global footprint.
TE company profile · for informational purposes only — not investment advice.
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