Orion Energy Systems, Inc. (OESX) AI Stock Analysis

Orion Energy Systems, Inc. researches, designs, manufactures, and sells energy management systems in North America through three segments: Orion Services Group, Orion Distribution Services, and Orion U.S. Markets. Its products include interior LED high bay fixtures, smart building control systems with data intelligence capabilities, LED troffer door retrofits, and other LED and high intensity fluorescent fixtures for office, retail, industrial, and outdoor applications. It also provides maintenance, repair, site assessment, utility incentive management, engineering design, installation, and facility commissioning services.

Between FY2021 and FY2026, revenue recorded a 5-year CAGR of -5.9%. Revenue contracted 37.8% in FY2023 to $77.4M, rebounded 17.1% to $90.6M in FY2024, declined 12.0% in FY2025 to $79.7M, and expanded 8.3% to $86.3M in FY2026. Gross margin rose to 32.6% in FY2026 from 25.4% in FY2025, while operating margin improved to -1.9% and net income was -$3.2M. For the trailing twelve months ended June 30, 2026, revenue reached $92.5M with an operating margin of 8.2% and EPS of -$0.07. In the latest quarter, quarterly revenue grew 31.5% year-over-year, while quarterly earnings declined 74.7%.

As of June 30, 2026, Orion Energy Systems held $5.2M in cash and short-term investments against total debt of $6.6M, resulting in net debt of $1.4M. The company reported a current ratio of 1.54, shareholders' equity of $18.7M, and a debt-to-equity ratio of 0.35. Operating cash flow in FY2026 was -$1.1M, with free cash flow at -$1.2M after capital expenditures of $86,000. Over five years, the company's share count expanded by 33.3%.

Orion Energy Systems carries a market capitalization of $92.1M and an enterprise value of $117.6M. The stock trades at a forward P/E of 66.2x, above the 17.2x median of its US-listed Industrials peers. Its EV/EBITDA is 50.5x compared to the peer median of 13.9x, while its price-to-sales multiple of 1.0x sits below the peer median of 1.5x. OESX has increased 136.6% over the past year and 46.4% year-to-date, compared to a 1-year return of 16.8% for the S&P 500.

Consensus ratings include 2 Strong Buy recommendations and no Buy, Hold, Sell, or Strong Sell ratings. The mean price target is $36.50, representing a 62.1% upside from the October 16, 2026 close of $22.52. For the fiscal year ending March 31, 2027, analysts forecast EPS of $1.31 on revenue of $101.8M. For the subsequent year, 1 analyst estimates EPS of $1.95 and revenue of $112.4M. The company has beaten EPS expectations in 3 of the last 4 quarters, and its next earnings release is scheduled for November 4, 2026.

This page is an AI-written research summary of Orion Energy Systems, Inc. (OESX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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