OESX
Orion Energy Systems, Inc.
OESX has a slight edge over RDW overall, supported by stronger fundamentals and lower modeled downside.
RDW
Redwire Corporation
RDW offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
OESX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Healthy |
OESX's revenue and balance sheet are currently healthy, and its profitability is stable, but its cash flow is under pressure.
RDW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
RDW's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
OESX PE Valuation
OESX has no meaningful PE right now: it lost money over the past year.
RDW PE Valuation
RDW has no meaningful PE right now: it lost money over the past year.
OESX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for OESX, with profitability improving. However, they disagree widely on these estimates.
RDW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect RDW's losses to shrink, with revenue growing.
OESX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.92 | — |
| Q3 2026 | -$0.05 | +$1.82 |
| Q2 2026 | -$0.02 | +$2.78 |
| Q1 2026 | -$0.89 | +$2.71 |
| Q4 2025 | -$1.33 | +$0.97 |
| Q3 2025 | -$1.87 | +$0.63 |
| Q2 2025 | -$2.80 | $0.00 |
| Q1 2025 | -$3.60 | +$0.10 |
| Q4 2024 | -$2.30 | +$3.50 |
OESX has the edge over RDW on earnings, with more consistent year-over-year improvement.
RDW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.17 | +$2.01 |
| Q2 2026 | -$1.37 | +$1.89 |
| Q1 2026 | -$2.59 | -$0.32 |
| Q4 2025 | -$2.28 | +$0.07 |
| Q3 2025 | -$3.18 | -$1.97 |
| Q2 2025 | -$3.26 | -$2.28 |
| Q1 2025 | -$2.27 | -$1.55 |
| Q4 2024 | -$2.35 | -$1.62 |
RDW is still losing money, but far less than before: $1.17 per share over the past year, against $3.26 at its worst in mid-2025.
OESX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $21.7M | +8.9% |
| Q2 2026 | $25.7M | +32% |
| Q1 2026 | $25.7M | +23% |
| Q4 2025 | $21.1M | +7.7% |
| Q3 2025 | $19.9M | +2.9% |
| Q2 2025 | $19.6M | -1.7% |
| Q1 2025 | $20.9M | -21% |
| Q4 2024 | $19.6M | -25% |
OESX's revenue is recovering but still below its 2020 peak: $22M last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -3.4% | -2.2 points |
| Q2 2026 | 8.2% | +13 points |
| Q1 2026 | -3% | +9.7 points |
| Q4 2025 | 1.8% | +8.2 points |
| Q3 2025 | -1.2% | +16 points |
| Q2 2025 | -5.2% | +12 points |
| Q1 2025 | -13% | -20 points |
| Q4 2024 | -6.4% | +1.6 points |
OESX has the edge over RDW on profitability, with a higher operating margin.
RDW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $109M | +5.4% |
| Q2 2026 | $117.1M | +90% |
| Q1 2026 | $97M | +58% |
| Q4 2025 | $108.8M | +56% |
| Q3 2025 | $103.4M | +51% |
| Q2 2025 | $61.8M | -21% |
| Q1 2025 | $61.4M | -30% |
| Q4 2024 | $69.6M | +9.6% |
RDW has the edge over OESX on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +16 points |
| Q2 2026 | -19% | +130 points |
| Q1 2026 | -72% | -49 points |
| Q4 2025 | -75% | -48 points |
| Q3 2025 | -40% | -22 points |
| Q2 2025 | -149% | -140 points |
| Q1 2025 | -23% | -19 points |
| Q4 2024 | -27% | -17 points |
RDW's operating margin was −24% last quarter, up 16 points from the same quarter a year ago.
OESX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$3.4M | -319% |
| Q2 2026 | $1.3M | +$1.9M |
| Q1 2026 | -$1.5M | -$761K |
| Q4 2025 | -$645K | -117% |
| Q3 2025 | $1.6M | +217% |
| Q2 2025 | -$570K | +$2.4M |
| Q1 2025 | -$750K | -464% |
| Q4 2024 | $3.7M | +304% |
OESX has the edge over RDW on cash flow, with more consistent year-over-year improvement.
RDW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$65.3M | -$38.5M |
| Q2 2026 | -$33.5M | +$57.2M |
| Q1 2026 | -$11.4M | +$35.5M |
| Q4 2025 | -$26.5M | -659% |
| Q3 2025 | -$26.9M | -$7.6M |
| Q2 2025 | -$90.6M | -$80.2M |
| Q1 2025 | -$46.9M | -3996% |
| Q4 2024 | $4.7M | -65% |
RDW has burned cash in most quarters: −$137M over the past year, against −$160M the year before.
OESX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.6% | -64.7K shares |
| 1 year | +17% | +599K shares |
| 3 years | +26% | +848K shares |
| 5 years | +31% | +969K shares |
| Available history | +33% | +1M shares |
OESX has the edge over RDW on shareholder dilution, with a more favorable share count trend.
RDW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +29.6M shares |
| 1 year | +179% | +160M shares |
| 3 years | +289% | +186M shares |
| 5 years | +319% | +190M shares |
RDW has 250M diluted shares, up 179% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
OESX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.6x | Healthy |
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | 3.4x | Elevated |
| Q2 2022 | -3.2x | Net Cash |
| Q1 2022 | -1.5x | Net Cash |
| Q4 2021 | -1.3x | Net Cash |
| Q3 2021 | -0.9x | Net Cash |
| Q2 2021 | -1.1x | Net Cash |
OESX's net debt is about 1.6 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
RDW Net Leverage
RDW's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
OESX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.8 | Neutral |
| Stochastic | 23.3 | Neutral |
OESX's weekly RSI is 41 (neutral) and its Stochastic is 23 (neutral).
RDW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.3 | Neutral |
| Stochastic | 16.1 | Oversold |
RDW's weekly RSI is 42 (neutral) and its Stochastic is 16 (oversold).
OESX PE vs Industrials Sector
| Metric | OESX | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
OESX has no meaningful PE right now: it lost money over the past year.
RDW PE vs Industrials Sector
RDW has no meaningful PE right now: it lost money over the past year.
OESX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $21.9 | 40% below |
| 20 week MA | $19.7 | 33% below |
| 50 week MA | $15.1 | 13% below |
| 100 week MA | $11.5 | 13% above |
| 200 week MA | $11.9 | 9.9% above |
OESX has the edge over RDW on trend strength, trading above more of its moving averages.
RDW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.06 | 11% below |
| 20 week MA | $10.1 | 20% below |
| 50 week MA | $10.6 | 24% below |
| 100 week MA | $11.6 | 31% below |
| 200 week MA | $8.07 | 0.5% below |
RDW is in a downtrend: it's below all five of its weekly moving averages, and 0.5% below its 200-week average.
OESX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $34.7 | $100.9 | +191% |
| 2021 | $100.9 | $35.9 | -64% |
| 2022 | $35.9 | $19.5 | -46% |
| 2023 | $19.5 | $8.67 | -56% |
| 2024 | $8.67 | $7.80 | -10% |
| 2025 | $7.80 | $15.8 | +103% |
| 2026 YTD | $15.8 | $13.1 | -17% |
OESX's yearly returns have swung widely, from +191% in 2020 to −64% in 2021. It's down 17% so far in 2026.
RDW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.2 | $7.34 | -28% |
| 2022 | $7.34 | $1.92 | -74% |
| 2023 | $1.92 | $2.85 | +48% |
| 2024 | $2.85 | $17.1 | +501% |
| 2025 | $17.1 | $7.15 | -58% |
| 2026 YTD | $7.15 | $8.03 | +12% |
RDW has the edge over OESX on returns for 2026, with the stronger performance.