SEI
Solaris Energy Infrastructure, Inc.
SEI's fundamentals are mixed, but it looks expensive: trading at 67x earnings, about three times its usual 21x. Analysts expect strong earnings growth, though they disagree widely on how much.
SEI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Weak | |
| Weak |
SEI's revenue and profitability are currently healthy, but its cash flow and balance sheet are weak.
SEI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $9.80 | -85% |
| Forward | 19x | $64.50 | — |
| Fair | 20x | $19.44 | -70% |
| Current | 67x | $64.50 | — |
| Expensive | 77x | $73.99 | +15% |
Historical ranges are pointers, not guarantees.
SEI's PE is in its expensive range at 67x. If earnings grow as analysts expect, today's price would be 19x next year's earnings, in its fair range.
SEI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for SEI, with profitability holding steady. However, they disagree widely on these estimates.
SEI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.44 | +258% |
| Q3 2026 | $0.96 | +2.1% |
| Q2 2026 | $0.85 | +44% |
| Q1 2026 | $0.89 | +82% |
| Q4 2025 | $0.71 | +45% |
| Q3 2025 | $0.94 | +114% |
| Q2 2025 | $0.59 | -7.8% |
| Q1 2025 | $0.49 | -28% |
| Q4 2024 | $0.49 | -36% |
SEI's earnings per share have fallen from their peak: $0.96 over the past year, against $1.66 in late 2019.
SEI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $341.1M | +104% |
| Q2 2026 | $219.4M | +47% |
| Q1 2026 | $196.2M | +55% |
| Q4 2025 | $179.7M | +87% |
| Q3 2025 | $166.8M | +122% |
| Q2 2025 | $149.3M | +102% |
| Q1 2025 | $126.3M | +86% |
| Q4 2024 | $96.3M | +52% |
SEI's revenue has grown year over year for nine quarters in a row: $341M last quarter, up 104% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | -3.1 points |
| Q2 2026 | 26% | +0.9 points |
| Q1 2026 | 26% | +8.3 points |
| Q4 2025 | 22% | -4.6 points |
| Q3 2025 | 23% | +16 points |
| Q2 2025 | 25% | +8.8 points |
| Q1 2025 | 17% | +2.8 points |
| Q4 2024 | 27% | +12 points |
SEI's operating margin was 20% last quarter, down 3.1 points from the same quarter a year ago.
SEI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$334.7M | -72540% |
| Q2 2026 | -$305.4M | -$144.4M |
| Q1 2026 | -$264.3M | -$145.7M |
| Q4 2025 | -$158.6M | -$45M |
| Q3 2025 | $462K | +$47.7M |
| Q2 2025 | -$160.9M | -984% |
| Q1 2025 | -$118.6M | -977% |
| Q4 2024 | -$113.6M | -796% |
SEI has burned cash in seven of the last eight quarters: −$1.1B over the past year, against −$393M the year before.
SEI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.5% | +1.2M shares |
| 1 year | +59% | +29.7M shares |
| 3 years | +176% | +51.1M shares |
| 5 years | +158% | +49.1M shares |
| Available history | +159% | +49.2M shares |
SEI has 80M diluted shares, up 59% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $409,000 |
| Q1 2026 | $14.3M |
| Q4 2025 | $10.5M |
| Q3 2025 | $258,000 |
| Q2 2025 | $79,000 |
| Q1 2025 | $10.1M |
| Q4 2024 | $107,000 |
| Q3 2024 | $18,000 |
SEI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.3x | High |
| Q2 2026 | 6.8x | High |
| Q1 2026 | 5.9x | High |
| Q4 2025 | 4.0x | Elevated |
| Q3 2025 | 2.2x | Moderate |
| Q2 2025 | 3.0x | Moderate |
| Q1 2025 | 2.6x | Moderate |
| Q4 2024 | 2.2x | Moderate |
SEI's net debt is about 4.3 years of its operating earnings (EBITDA), up from 2.2 years a year ago.
SEI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.5 | Neutral |
| Stochastic | 52.2 | Neutral |
SEI's weekly RSI is 50 (neutral) and its Stochastic is 52 (neutral).
SEI PE vs Energy Sector
| Metric | SEI | Sector median | Relative |
|---|---|---|---|
| PE | 67x | 13x | 411% above |
| PE % | 79 | 61 | 18 pts above |
SEI is trading at 67x earnings, a 411% premium to the Energy sector's median of 13x.
SEI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $67.1 | 3.9% below |
| 20 week MA | $62.9 | 2.6% above |
| 50 week MA | $61.5 | 5% above |
| 100 week MA | $46.5 | 39% above |
| 200 week MA | $28.4 | 127% above |
SEI's trend is up, with a small recent dip: it's below only its 8-week average, and 127% above its 200-week average.
SEI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.3 | $8.30 | -42% |
| 2021 | $8.30 | $6.62 | -20% |
| 2022 | $6.62 | $9.99 | +51% |
| 2023 | $9.99 | $7.96 | -20% |
| 2024 | $7.96 | $28.2 | +254% |
| 2025 | $28.2 | $44.7 | +58% |
| 2026 YTD | $44.7 | $64.5 | +44% |
SEI's yearly returns have swung widely, from +254% in 2024 to −42% in 2020. It's up 44% so far in 2026.