Power Solutions International (PSIX) financial statements
Power Solutions International reported revenue of $722M in fiscal 2025, up 8.8% a year over 9 years.
Net income was $114M and the operating margin 15.2%, against -7.5% in 2016.
Free cash flow was $14M.
The diluted share count rose 111% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Power Solutions International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $339M | $417M | $94M | $546M | $418M | $456M | $481M | $459M | $476M | $722M |
| Cost of revenue | $310M | $366M | $85M | $446M | $359M | $415M | $393M | $353M | $335M | $538M |
| Gross profit | $29M | $51M | $10M | $100M | $58M | $41M | $89M | $106M | $141M | $185M |
| Research and development | $19M | $20M | $6M | $25M | $25M | $22M | $19M | $19M | $20M | $18M |
| Operating income | -$25M | -$18M | -$10M | $17M | -$22M | -$42M | $25M | $44M | $82M | $110M |
| Interest expense | $11M | $11M | $2M | $8M | $6M | $7M | $13M | $17M | $11M | $7M |
| Pre-tax income | -$36M | -$47M | -$14M | $9M | -$27M | -$49M | $12M | $27M | $70M | $103M |
| Income tax | $12M | $443,000 | -$272,000 | $409,000 | -$4M | -$406,000 | $304,000 | $900,000 | $922,000 | -$11M |
| Net income | -$47M | -$48M | -$14M | $8M | -$23M | -$48M | $11M | $26M | $69M | $114M |
| EPS (diluted) | -$4.47 | -$6.20 | -$0.77 | $0.38 | -$1.00 | -$2.12 | $0.49 | $1.15 | $3.01 | $4.94 |
| Diluted shares | 11M | 14M | 18M | 22M | 23M | 23M | 23M | 23M | 23M | 23M |
| Gross margin | 8.6% | 12.2% | 10.5% | 18.3% | 14.0% | 9.0% | 18.4% | 23.1% | 29.5% | 25.6% |
| Operating margin | -7.5% | -4.3% | -11.1% | 3.2% | -5.2% | -9.1% | 5.1% | 9.6% | 17.2% | 15.2% |
| Net margin | -14.0% | -11.4% | -15.0% | 1.5% | -5.5% | -10.6% | 2.3% | 5.7% | 14.6% | 15.8% |
Balance sheet
Fiscal years, from Power Solutions International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2M | $0 | $54,000 | $3,000 | $21M | $6M | $24M | $23M | $55M | $41M |
| Receivables | $60M | $69M | $86M | $105M | $60M | $65M | $90M | $67M | $69M | $90M |
| Inventory | $101M | $87M | $106M | $109M | $108M | $142M | $121M | $85M | $94M | $127M |
| Total current assets | $184M | $171M | $216M | $223M | $203M | $230M | $255M | $205M | $254M | $291M |
| Property, plant and equipment | $20M | $19M | $24M | $23M | $20M | $17M | $14M | $15M | $15M | $23M |
| Goodwill | $30M | $30M | $30M | $30M | $30M | $30M | $30M | $30M | $30M | $30M |
| Total assets | $265M | $247M | $290M | $314M | $284M | $301M | $320M | $284M | $328M | $425M |
| Total current liabilities | $100M | $123M | $221M | $182M | $239M | $283M | $319M | $248M | $228M | $92M |
| Long-term debt | $110M | $54M | $55M | $56M | $781,000 | $25M | $5M | $90,000 | $38,000 | $10,000 |
| Total liabilities | $224M | $215M | $308M | $285M | $278M | $343M | $350M | $288M | $263M | $246M |
| Shareholders' equity | $41M | $32M | -$19M | $28M | $6M | -$42M | -$30M | -$4M | $65M | $179M |
| Net debt | $109M | $54M | $55M | $56M | -$20M | $19M | -$19M | -$23M | -$55M | -$41M |
Cash flow
Fiscal years, from Power Solutions International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $32M | -$8M | -$6M | $18M | -$8M | -$61M | -$9M | $71M | $62M | $24M |
| Capital spending | $4M | $5M | $4M | $4M | $2M | $2M | $1M | $5M | $5M | $10M |
| Free cash flow | $28M | -$13M | -$10M | $14M | -$10M | -$63M | -$10M | $65M | $58M | $14M |
| Stock-based compensation | $2M | $473,000 | $3M | $1M | $607,000 | $394,000 | $385,000 | $151,000 | $89,000 | $427,000 |
| Net borrowing | $60M | -$71M | $0 | — | — | — | $0 | -$80M | — | — |
| Free cash flow margin | 8.4% | -3.1% | -10.4% | 2.7% | -2.4% | -13.9% | -2.1% | 14.3% | 12.2% | 2.0% |
Questions
What was Power Solutions International's revenue in 2025?
$722M in fiscal 2025, from its 10-K filing.
How much free cash flow does Power Solutions International generate?
$14M in fiscal 2025 (operating cash flow minus capital spending).
From Power Solutions International's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.