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$797M
Market Cap
P/E
PEG
-22.9%
ROCE
N/M
ROE
1.70
D/E
-23.8%
OPM
-61.7%
% from 52W High
97
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for TE including FX impact
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📈 Price History
Ratio Health
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About

T1 Energy Inc. provides energy solutions for solar modules and cells in the United States, Norway and internationally. It manufactures and sells photovoltaic solar modules. The company was formerly known as FREYR Battery, Inc. and changed its name to T1 Energy Inc. in February 2025. T1 Energy Inc. is headquartered in Austin, Texas.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding TE
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 11.86M $52.1M 0.08% Mar 2026
Steve Cohen Point72 Asset Management 508.3K $2.2M 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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🎙 Management Tone Confident Specific ↑ Improving 4 quarters Full tone analysis in Intelligence →
📊 MIXED T1 Energy's Q1 2026: Record adjusted EBITDA $9.1M; G2 cell fab on schedule for Q4 2026 first production.
Revenue & Profitability
In Q1 2026, T1 Energy achieved a record quarterly adjusted EBITDA of $9.1 million. Gross margin improved to 17% from approximately 7% in Q4 2025 (roughly 10% expansion). Production was 683 MW (2.7 GW annualized run rate). Net income and operating income were not disclosed in the call.
Outlook
Management sees robust demand from hyperscalers and utility-scale developers for solar and storage. The second half of 2026 is expected to be busier as customers work down inventory after the July safe harbor deadline. However, utility interconnection remains a bottleneck. The potential Section 232 investigation into foreign polysilicon could provide a favorable pricing uplift for T1's domestic polysilicon-based modules.
Growth Drivers
Key growth levers are the G2_ Austin cell fab (Phase 1) targeting first production in Q4 2026, which will produce high domestic content TOPCon modules. The company also has a robust mid-to-late stage pipeline for merchant and contract sales for 2026 and 2027. Additional growth could come from a potential Phase 2 expansion of G2 to exceed 5 GW.
Balance Sheet & CapEx
Remaining CapEx for G2 Phase 1 is approximately $225 million. T1 is pursuing a comprehensive debt-based financing package and targets to announce a commitment in Q2 2026. In April 2026, it raised $176 million in net proceeds from an upsized public convertible notes offering. G1_Dallas required an investment of over $600 million.
Margins
Gross margin expanded to 17% in Q1 2026 from ~7% in Q4 2025, driven by a favorable shift to cost-plus and fixed margin contracts versus merchant sales. For the low end of 2026 production guidance (3.1 GW), a 17% gross margin is considered reasonable. Merchant volumes could affect margins depending on module price versus cost.
Key Risks
Risks include weather delays (heavy rain in Texas), uncertainty around the Section 232 investigation outcome and timing, customer inventory digestion after the FEOC safe harbor deadline, price volatility for merchant volumes, utility interconnection bottlenecks, and the timing of 45X tax credit monetization. Non-FEOC cell procurement and securing G2 financing are also key execution risks.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-12
Q2 saw strong production, margin improvement, and a $120M convertible note raise to fund G2 Austin. Strategic offtake deals and the acquisition of TOPCon IP strengthen the domestic solar position, while Section 232 tariffs support the U.S. supply chain strategy.
Q1 2026 Q1 2026 2026-05-12
Record Q1 2026 adjusted EBITDA and gross margin reflect improved contract mix and operational efficiency. G2_Austin construction is on track, with comprehensive financing targeted for Q2. Robust demand and favorable market dynamics support positive outlook.
Q4 2025 Q4 2025 2026-03-31
Record Q4 production and sales, major capital raises, and new supply agreements position the company for strong growth. G2_Austin construction is on track, with funding targeted for April and high-margin domestic solar cell production expected by year-end 2026.
Q3 2025 Q3 2025 2025-11-14
Record Q3 net sales and production ramp at G1 Dallas support unchanged 2025 EBITDA guidance. Construction of G2 Austin's first phase is set to begin, backed by $122 million in new equity and strategic supply chain partnerships. Strong demand and operational progress underpin a positive outlook.
Q2 2025 Q2 2025 2025-08-20
Announced a major U.S. wafer supply agreement with Corning, sold out 2025 production at the low end, and advanced G2 Austin development. Maintained 2025 EBITDA guidance but flagged near-term risks from merchant sales and policy changes. Robust demand and policy support underpin long-term growth plans.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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