ZEO
Zeo Energy Corp.Energy·Solar
$0.85
$47M market cap
Revenue
$31.8M
Free Cash Flow
$1.2M
Rev Growth
+0.0%
FCF Margin
3.8%
P/FCF
38.7x
EV/FCF
38.5x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Zeo Energy Corp. is a vertically integrated provider of residential solar energy systems, other energy efficient equipment, and related services. The company is headquartered in New Port Richey, FL.
2-Year Price History
$0.85-81.2%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 13.2 | -3.7 | -4.8 | -3.5 | -0.9 | -1.1 | -0.2 | 1.7 | 1.5 | 24.9 | -161.9% | -339.4x | -- |
| Act | 2025-Q4 | 18.6 | -1.6 | -2.2 | -2.0 | 2.4 | 2.3 | -0.2 | 6.1 | 1.4 | 24.9 | -262.1% | -63.0x | -- |
Valuation & Metrics
Market Stats
Price$0.85
Market Cap$47M
Enterprise Value$47M
P/S Ratio1.5x
P/FCF38.7x
EV/FCF38.5x
FCF Margin (TTM)3.8%
FCF Yield2.6%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$31.8M
Net Income$-5.5M
Free Cash Flow$1.2M
Revenue Growth (YoY)+0.0%
EBITDA Margin-16.7%
Net Margin-17.4%
FCF Margin3.8%
CapEx % of Revenue1.2%
SBC % of Revenue7104.9%
ROIC-212.0%
WC Change % Rev-2.6%
Interest Coverage-145.6x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.3M
Days to Cover1.0
Change (vs Prior)-23.5%
Need at least 2 settlement dates for chart
Employees
Headcount200
Revenue / Employee$158,764
Gross Profit / Employee$70,763
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
1.5%(+1.5% YoY)
23 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.7%(-0.1% YoY)
5 filers
Vanguard, iShares, SPDR
Market makers
0.0%(+0.0% YoY)
4 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| CITIZENS FINANCIAL GROUP INC/RI | $311K | $1.05 | +$100K | +$311K | -0.0% | $7.18B |
| PIPER JAFFRAY & CO. | $291K | $1.67 | −$98K | +$291K | +0.0% | $545K |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $211K | $0.57 | +$211K | +$211K | — | $4.04T |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $74K | $2.70 | +$21K | +$24K | +2.3% | $1.61T |
| PNC FINANCIAL SERVICES GROUP, INC. | $43K | $0.57 | +$43K | +$43K | +0.3% | $173.16B |
| Texas Capital Bank Wealth Management Services Inc | $41K | $1.09 | +$0 | +$41K | -0.1% | $1.68B |
| XTX Topco Ltd | $26K | $1.64 | +$8K | +$26K | -1.9% | $5.74B |
| Groupe la Francaise | $25K | $1.35 | +$0 | +$25K | +0.1% | $7.14B |
| BlackRock, Inc.Passive | $25K | $1.51 | +$2K | +$25K | -0.2% | $5.69T |
| STATE STREET CORPPassive | $22K | $2.04 | +$0 | +$9K | -0.2% | $2.89T |
| SHANDA ASSET MANAGEMENT HOLDINGS Ltd | $21K | $1.35 | +$0 | +$21K | +4.5% | $1.84B |
| JANE STREET GROUP, LLCMM | $14K | $0.79 | +$8K | +$14K | -0.1% | $92.10B |
| Creative Planning | $10K | $1.35 | +$0 | +$10K | -0.7% | $144.46B |
| TWO SIGMA SECURITIES, LLCMM | $9K | $1.09 | +$0 | +$9K | -3.0% | $858M |
| CREDIT INDUSTRIEL ET COMMERCIAL | $6K | $1.35 | +$0 | +$6K | +0.8% | $568M |
| VANGUARD FIDUCIARY TRUST COPassive | $6K | $0.57 | +$6K | +$6K | — | $395.83B |
| MORGAN STANLEY | $2K | $1.35 | +$0 | +$2K | -0.3% | $1.65T |
| Tower Research Capital LLC (TRC)MM | $1K | $1.71 | −$0 | +$1K | -0.6% | $3.84B |
| CKW FINANCIAL GROUP | $1K | $1.35 | +$0 | +$1K | -0.4% | $917M |
| JPMORGAN CHASE & CO | $0 | $1.36 | +$0 | +$0 | -0.2% | $1.47T |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
-3.83%
avg per quarter
Holders (ex-self)
+0.05%
excl. this stock
Buyers (this Q)
+0.31%
4 buyers · $0.00B in
Sellers (this Q)
-10.34%
4 sellers · $0.00B out
alpha coverage: 81% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-4.0%
how holders react when this stock falls
On quiet Qs
-0.9%
−10% to +10% baseline
On rallies (+10%+)
+54.7%
how they react when this stock rises
Holders' portfolio flow this Q
-0.9%
outflows — trims may be forced
Sellers' portfolio flow this Q
-10.9%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
+0.5%
Holder mid (any stock)
-0.9%
Holder rally (any stock)
-5.3%
Biggest decreases this quarter
New buyers this quarter
Top-5 holders · 81.2%
CITIZENS FINANCIAL GROUP INC/RI--
PIPER JAFFRAY & CO.--
VANGUARD CAPITAL MANAGEMENT LLC--
GEODE CAPITAL MANAGEMENT, LLC--
PNC FINANCIAL SERVICES GROUP, INC.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
K2 PRINCIPAL FUND, L.P.—PIPER JAFFRAY & CO.508KCITIZENS FINANCIAL GROUP INC/RI541KDIVERSIFY WEALTH MANAGEMENT, LLC—HighTower Advisors, LLC—TOWNSQUARE CAPITAL LLC—Texas Capital Bank Wealth Management Services Inc71KGroupe la Francaise44KSHANDA ASSET MANAGEMENT HOLDINGS Ltd37KPNC FINANCIAL SERVICES GROUP, INC.75K
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$431K
12 txns · 2 insiders · 293,825 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2025-12-11 | SELL | Bridgewater Brandon | officer: CSO | 65,338 | $1.16 | $76K | $3.28M |
| 2025-12-10 | SELL | Bridgewater Brandon | officer: CSO | 9,080 | $1.15 | $10K | $3.29M |
| 2025-12-09 | SELL | Bridgewater Brandon | officer: CSO | 18,191 | $1.16 | $21K | $3.39M |
| 2025-12-08 | SELL | Bridgewater Brandon | officer: CSO | 24,490 | $1.20 | $29K | $3.52M |
| 2025-09-03 | SELL | Bridgewater Brandon | officer: CSO | 26,636 | $1.61 | $43K | $4.76M |
| 2025-09-03 | SELL | Larsen Kalen | officer: COO | 26,636 | $1.61 | $43K | $3.89M |
| 2025-08-29 | SELL | Bridgewater Brandon | officer: CSO | 440 | $1.60 | $704 | $4.77M |
| 2025-08-29 | SELL | Larsen Kalen | officer: COO | 440 | $1.60 | $704 | $3.90M |
| 2025-08-28 | SELL | Bridgewater Brandon | officer: CSO | 28,875 | $1.62 | $47K | $4.76M |
| 2025-08-28 | SELL | Larsen Kalen | officer: COO | 28,875 | $1.62 | $47K | $3.95M |
| 2025-08-27 | SELL | Bridgewater Brandon | officer: CSO | 32,412 | $1.75 | $57K | $5.19M |
| 2025-08-27 | SELL | Larsen Kalen | officer: COO | 32,412 | $1.75 | $57K | $4.31M |
Order Flow (FINRA, ~3w lag)
47.7%retail+1.7pp
4.4%dark-2.9pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
ZEO ENERGY CORP: A Masterclass in Circular Related-Party Flows and Dilutive Desperation
Overall Risk
9/10
Fraud
8/10
Dilution
10/10
Insolvency
8/10
Earnings Overstated
7/10
Hidden Liabilities
7/10
Legal
5/10
Audit Warnings
9/10
Hidden Upside
2/10
Contextually Acceptable
2/10