Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Orion Energy Systems, Inc.OESX · consumer durables | |
|---|---|
| Grade |  Eweakest fifth of 460 graded peers; percentile 89.8, sampling error 2.3 points; lower is stronger |
| Rank | 410 of 460 |
| Profitability | Cpercentile 55.7 |
| Solvency | D/Epercentile 79.6 |
| Growth and financing | Dpercentile 67.4 |
| Reliability | 0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025 |
| Peer failure rate | 1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $12.5M to $120M assetstotal assets $51.6M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: distress |
| Inputs computable | 9 of 14 |
| Graded from | filings received through Jun 4, 2026127 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $27.482026-10-07; market equity $111.9M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Jun 4, 2026; the document on sec.gov.
As used herein, unless otherwise expressly stated or the context otherwise requires, all references to “Orion,” “we,” “us,” “our,” “Company” and similar references are to Orion Energy Systems, Inc. and its consolidated subsidiaries. We provide state-of-the-art light emitting diode (“LED”) lighting systems, wireless Internet of Things (“IoT”) enabled control solutions, commercial and industrial electric vehicle charging infrastructure solutions and lighting and electrical maintenance services. We help our customers achieve their sustainability, energy savings and carbon footprint reduction goals through innovative technology and exceptional service.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 55.7 | |||||||
| Gross profitability | 54.4% | [1,3] | 34.4% | 22.1 | 476 | 2026-03-31 | |
| Return on invested capital | not computable | 8.9% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Accruals ratio | (4.0%) | [1,4-6] | (5.1%) | 63.2 | 525 | 2026-03-31 | |
| Gross margin stability, five years | 3.6 pts | [2-3,7-14] | 1.7 pts | 81.8 | 407 | 2026-03-31 | |
| Solvency, sleeve percentile 79.6 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| four consecutive discrete net-income quarters are required; found 4 | |||||||
| Altman Z double-prime | (5.77) | [1,15-20] | 2.11 | 84.8 | 402 | 2026-03-31 | |
| Net debt to EBITDA | 19.06x | [18,21-23] | 2.11x | 98.9 | 187 | 2026-03-31 | |
| Interest coverage | not computable | 2.57x | |||||
| latest aligned inputs end 2019-03-31; latest annual assets end 2026-03-31 | |||||||
| Current ratio | 1.41x | [15-16] | 1.55x | 55.0 | 541 | 2026-03-31 | |
| Growth and financing, sleeve percentile 67.4 | |||||||
| Revenue growth, three-year compound | 3.7% | [2,8,10,12] | 1.4% | 37.0 | 482 | 2026-03-31 | |
| Free cash flow growth, three-year compound | not computable | 8.3% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 12.0% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Asset growth, three years | (10.3%) | [1,6,24-25] | 2.0% | 84.8 | 487 | 2026-03-31 | |
| Net share issuance, one year | 2.3% | [26-27] | (0.3%) | 80.3 | 382 | 2025-05-30 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.392; sampling error 2.3 percentile points on 460 peers.
Among 460 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 405 | Dine Brands Global, Inc. (DIN) Dine Brands Global, Inc. (DIN) Eweakest fifth; percentile 88.3 NYSE · Retail-Eating Places market equity $373.1M; last close $29.48 No active warnings; 8 of 14 inputs | 88.3 | E | |
| 406 | Utz Brands, Inc. (UTZ) Utz Brands, Inc. (UTZ) Eweakest fifth; percentile 88.6 NYSE · Miscellaneous Food Preparations & Kindred Products market equity $864.2M; last close $14.31 No active warnings; 9 of 14 inputs | 88.6 | E | |
| 407 | Suburban Propane Partners L.P. (SPH) Suburban Propane Partners L.P. (SPH) Eweakest fifth; percentile 88.7 NYSE · Retail-Miscellaneous Retail market equity $1.1B; last close $17.14 No active warnings; 12 of 14 inputs | 88.7 | E | |
| 408 | Cosmos Health Inc. (COSM) Cosmos Health Inc. (COSM) Eweakest fifth; percentile 89.1 Nasdaq · Wholesale-Drugs, Proprietaries & Druggists' Sundries market equity $31.6M; last close $0.31 Warnings: dilution, short runway, late filer, distress; 10 of 14 inputs | 89.1 | E | dilution, short runway, late filer, distress |
| 409 | Childrens Place, Inc. (PLCE) Childrens Place, Inc. (PLCE) Eweakest fifth; percentile 89.5 Nasdaq · Retail-Family Clothing Stores market equity $42.7M; last close $1.91 No active warnings; 8 of 14 inputs | 89.5 | E | |
| 410 | Orion Energy Systems, Inc. (OESX) Orion Energy Systems, Inc. (OESX) Eweakest fifth; percentile 89.8 Nasdaq · Electric Lighting & Wiring Equipment market equity $109.2M; last close $27.48 No active warnings; 9 of 14 inputs | 89.8 | E | |
| 411 | John Wiley & Sons, Inc. (WLY) John Wiley & Sons, Inc. (WLY) Eweakest fifth; percentile 89.8 NYSE · Books: Publishing or Publishing & Printing last close $49.39 No active warnings; 9 of 14 inputs | 89.8 | E | |
| 412 | John Wiley & Sons, Inc. (WLYB) John Wiley & Sons, Inc. (WLYB) Eweakest fifth; percentile 89.8 NYSE · Books: Publishing or Publishing & Printing last close $49.70 No active warnings; 9 of 14 inputs | 89.8 | E | |
| 413 | Portillo's Inc. (PTLO) Portillo's Inc. (PTLO) Eweakest fifth; percentile 89.9 Nasdaq · Retail-Eating Places market equity $241.0M; last close $3.89 No active warnings; 7 of 14 inputs | 89.9 | E | |
| 414 | Neighborhood Intelligence, Inc. (BBBYW) Neighborhood Intelligence, Inc. (BBBYW) Eweakest fifth; percentile 90.5 Nasdaq · Retail-Catalog & Mail-Order Houses last close $0.17 Warnings: fortress balance sheet; 7 of 14 inputs | 90.5 | E | fortress balance sheet |
| 415 | Neighborhood Intelligence, Inc. (NXH) Neighborhood Intelligence, Inc. (NXH) Eweakest fifth; percentile 90.5 Nasdaq · Retail-Catalog & Mail-Order Houses last close $1.72 Warnings: fortress balance sheet; 7 of 14 inputs | 90.5 | E | fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | E | 87.3 | 2204 |
| sector peers, equal sleeves (the grade) | E | 89.8 | 460 |
| same exchange, equal sleeves | E | 83.4 | 1219 |
| sector peers, equal inputs | E | 90.0 | 460 |
Each letter is one fifth of the 460 graded peers, about 92 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-07 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 162.4% | (0.2%) | 99 | hotter than 99 of 100 peers |
| Distance from 52-week high | (12.7%) | (25.6%) | 76 | closer to its high than 76 of 100 peers |
| EBIT to enterprise value | (1.5%) | 5.0% | 22 | pricier than 78 of 100 peers |
| Free cash flow yield | (1.1%) | 4.6% | 20 | pricier than 80 of 100 peers |
| Book value to price | 0.17 | 0.45 | 26 | pricier than 74 of 100 peers |
| Sales to price | 0.79 | 1.49 | 31 | pricier than 69 of 100 peers |
| Composite equity issuance, five years | not computable | (16.0%) | five-year total-return history is required | |
| Relative strength against the sector, log excess return | 0.99 | (0.01) | 99 | ahead of 99 of 100 peers |
Inputs: market equity $109.2M; EBIT -$1.6M; free cash flow -$1.2M; book equity $18.7M; sales $86.3M; debt $6.5M; cash $5.2M[28].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 6 of 9, period end 2026-03-31 | ||
|---|---|---|
| Return on assets above zero | (6.0%) | ✗ fail[4,6] |
| Operating cash flow above zero | -$1.1M | ✗ fail[5] |
| Return on assets improved | 12.7 pts | ✓ pass[4,6,24,29] |
| Operating cash flow exceeds net income | $2.1M | ✓ pass[4-5] |
| Long-term leverage fell | (6.4 pts) | ✓ pass[1,6,24,30-31] |
| Current ratio improved | 9.0 pts | ✓ pass[15-16,32-33] |
| No new shares issued | 2.3% | ✗ fail[26-27] |
| Gross margin improved | 7.2 pts | ✓ pass[2-3,7-8] |
| Asset turnover improved | 38.3 pts | ✓ pass[2,6,8,24] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $5.2M[34] |
| Operating cash flow, four quarters | $788,000[5,34-38] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 65 |
| 10-Q received Aug 5, 2026 | |
| Median daily dollar volume | $1.3M |
| 63 sessions | |
| Days since newest grade input | 127 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $51.6M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:Revenues | $86.3M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $28.1M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | -$3.2M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$1.1M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $52.5M | 2025-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $20.2M | 2025-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:Revenues | $79.7M | 2025-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $20.9M | 2024-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:Revenues | $90.6M | 2024-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $17.5M | 2023-03-31 | 2025-06-26 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:Revenues | $77.4M | 2023-03-31 | 2025-06-26 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $33.9M | 2022-03-31 | 2024-06-12 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:Revenues | $124.4M | 2022-03-31 | 2024-06-12 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $37.7M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $26.7M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$118.1M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 18 | operating income | us-gaap:OperatingIncomeLoss | -$1.6M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 19 | book equity | us-gaap:StockholdersEquity | $16.6M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 20 | liabilities | us-gaap:Liabilities | $35.0M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 21 | total debt | us-gaap:LongTermDebt | $6.0M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 22 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $3.3M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 23 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $1.8M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 24 | assets | us-gaap:Assets | $63.2M | 2024-03-31 | 2025-06-26 | 10-K | filing · viewer · series |
| 25 | assets | us-gaap:Assets | $71.6M | 2023-03-31 | 2024-06-12 | 10-K | filing · viewer · series |
| 26 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 33,305,699 | 2025-05-30 | 2025-06-26 | 10-K | filing · viewer · series |
| 27 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 32,567,746 | 2024-05-31 | 2024-06-12 | 10-K | filing · viewer · series |
| 28 | shares outstanding | us-gaap:CommonStockSharesOutstanding | 4,071,624 | 2026-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
| 29 | net income | us-gaap:NetIncomeLoss | -$11.8M | 2025-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 30 | long term debt | us-gaap:LongTermDebtNoncurrent | $5.6M | 2026-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 31 | long term debt | us-gaap:LongTermDebtNoncurrent | $10.0M | 2025-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 32 | current assets | us-gaap:AssetsCurrent | $35.5M | 2025-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 33 | current liabilities | us-gaap:LiabilitiesCurrent | $26.8M | 2025-03-31 | 2026-06-04 | 10-K | filing · viewer · series |
| 34 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $5.2M | 2026-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
| 35 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $1.4M | 2026-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
| 36 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $407,000 | 2025-12-31 | 2026-02-05 | 10-Q | filing · viewer · series |
| 37 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $1.3M | 2025-09-30 | 2025-11-05 | 10-Q | filing · viewer · series |
| 38 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$515,000 | 2025-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 89.8 is 9.8 points from the nearest band edge; sampling error is 2.3 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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