Assay

Financial-condition grades for SEC filers

Company Report · as of Oct 9, 2026

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MethodCoverageAbout
T1 Energy Inc.TE · business equipment
GradeNonecomputable_factors_below_threshold: 5 of 14 inputs computable; 7 are required
Reliability0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025
Peer failure rate1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025
Size band$591M to $2.67B assetstotal assets $1.4B[1]
Standard universeinsiderevenue above $1M and assets above $10M[1-2]
Warningslate filer, thin datanot computable: dilution, distress
Inputs computable5 of 14
Graded fromfilings received through Apr 30, 2026162 days before the rescan; every figure keyed to the SEC receipt date
Last close$3.432026-10-08; market equity $1.0B; iex feed
Price used in gradeNone
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
$5$10NovDecJanFebMarAprMayJunJulAugSepOct$3.44
ABCDE20132014201520162017201820192020202120222023202420252026

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

Letter setLetterPercentileBand
Jan 21, 2012nonen/a
Mar 21, 2024nonen/aQ4

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 Mar 31, 2026; the document on sec.gov.

In February 2025, we changed our corporate name from FREYR Battery, Inc. to T1 Energy Inc. We will not distinguish between our prior and current corporate name and will refer to our current corporate name throughout this Annual Report on Form 10-K. As such, unless expressly indicated or the context requires otherwise, the terms “T1,” “Company,” “we,” “us,” and “our” in this document refer to T1 Energy Inc., a Delaware corporation, and, where appropriate, its subsidiaries. T1 Energy Inc. is an energy solutions provider building an integrated U.S. solar supply chain for solar modules to invigorate the United States with scalable, reliable, and low-cost energy.

Warnings [top]

Late filer. found 1 NT 10-K/Q filings in the last eight quarters
Thin data. 5 of 14 grade factors are computable; minimum is 7

7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.

The Fourteen Inputs [top]

Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.

InputPercentile, 0 to 100ValueSourcePeer medianPercentilePeersPeriod end
Profitability, sleeve percentile 63.6
Gross profitability4.1%[1,3]28.5%88.25582025-12-31
Return on invested capital(37.6%)[4-12]10.9%91.91362025-12-31
Accruals ratio(34.2%)[1,13-15](7.4%)10.86212025-12-31
Gross margin stability, five yearsnot computable2.4 pts
five annual gross margins are required; found 2
Solvency, sleeve percentile 66.7
Twelve-month failure probabilitynot computable0.05%
latest liabilities, cash plus short-term investments, book equity, and shares are required
Altman Z double-prime(2.54)[1,4,8,16-19]2.1867.85662025-12-31
Net debt to EBITDAnot computable1.11x
EBITDA must exceed $100,000
Interest coveragenot computable3.77x
one or more required annual facts are missing
Current ratio1.43x[16-17]2.02x65.66662025-12-31
Growth and financing
Revenue growth, three-year compoundnot computable6.4%
four annual observations are required; found 2
Free cash flow growth, three-year compoundnot computable17.2%
four consecutive annual FCF observations are required; found 3
Reinvestment ratenot computable14.3%
NOPAT must exceed $100,000
Asset growth, three yearsnot computable5.0%
four annual observations are required; found 3
Net share issuance, one yearnot computable0.5%
prior share count is 35 days earlier

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.

Among 497 Peers [top]

What the Price Implies [top]

Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.

MeasureValuePeer medianPercentileReading
Twelve-month price change, skipping the latest month104.1%2.2%91hotter than 91 of 100 peers
Distance from 52-week high(71.4%)(30.0%)10closer to its high than 10 of 100 peers
EBIT to enterprise value(15.8%)1.5%14pricier than 86 of 100 peers
Free cash flow yield1.6%2.7%38pricier than 62 of 100 peers
Book value to price0.200.2344pricier than 56 of 100 peers
Sales to price0.750.3073pricier than 27 of 100 peers
Composite equity issuance, five yearsnot computable3.9%a share count from five years earlier is required
Relative strength against the sector, log excess return0.43(0.26)91ahead of 91 of 100 peers

Inputs: market equity $1.0B; EBIT -$234.6M; free cash flow $16.7M; book equity $201.8M; sales $755.3M; debt $549.9M; cash $79.1M[20].

Diagnostics [top]

Diagnostics do not feed the grade.

Piotroski F-score: None of 9, period end 2025-12-31
Return on assets above zero(27.5%)✗ fail[13,15]
Operating cash flow above zero$95.5M✓ pass[14]
Return on assets improved34.0 pts✓ pass[13,15,21-22]
Operating cash flow exceeds net income$463.3M✓ pass[13-14]
Long-term leverage fell(23.7 pts)✓ pass[1,15,22-24]
Current ratio improved3.6 pts✓ pass[16-17,25-26]
No new shares issuedn/a[27-28]
Gross margin improved(34.4 pts)✗ fail[2-3,29-30]
Asset turnover improved56.1 pts✓ pass[2,15,22,30]
Cash, filings, liquidity
Cash and equivalents$79.1M[31]
Operating cash flow, four quarters$3.9M[14,31-35]
Months of runwaynot finite
trailing operating cash flow is nonnegative, so runway is not finite
Late filings, two years1
NT 10-K or NT 10-Q
Days since last periodic filing58
10-Q received Aug 12, 2026
Median daily dollar volume$103.9M
63 sessions
Days since newest grade input162

Downloads [top]

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.

#ConceptXBRL tagValuePeriod endReceivedFormLinks
1assetsus-gaap:Assets$1.4B2025-12-312026-03-3110-Kfiling · viewer · series
2revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$755.3M2025-12-312026-03-3110-Kfiling · viewer · series
3gross profitus-gaap:GrossProfit$55.6M2025-12-312026-03-3110-Kfiling · viewer · series
4operating incomeus-gaap:OperatingIncomeLoss-$234.6M2025-12-312026-03-3110-Kfiling · viewer · series
5pretax incomeus-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest-$340.7M2025-12-312026-03-3110-Kfiling · viewer · series
6income taxus-gaap:IncomeTaxExpenseBenefit-$19.4M2025-12-312026-03-3110-Kfiling · viewer · series
7total debtus-gaap:LongTermDebt$390.2M2025-12-312026-03-3110-Kfiling · viewer · series
8book equityus-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest$250.4M2025-12-312026-03-3110-Kfiling · viewer · series
9cashus-gaap:CashAndCashEquivalentsAtCarryingValue$182.4M2025-12-312026-03-3110-Kfiling · viewer · series
10total debtus-gaap:LongTermDebt$602.3M2024-12-312026-03-3110-Kfiling · viewer · series
11book equityus-gaap:StockholdersEquity$188.8M2024-12-312025-03-3110-Kfiling · viewer · series
12cashus-gaap:CashAndCashEquivalentsAtCarryingValue$72.6M2024-12-312026-03-3110-Kfiling · viewer · series
13net incomeus-gaap:ProfitLoss-$367.8M2025-12-312026-03-3110-Kfiling · viewer · series
14operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$95.5M2025-12-312026-03-3110-Kfiling · viewer · series
15assetsus-gaap:Assets$1.3B2024-12-312026-03-3110-Kfiling · viewer · series
16current assetsus-gaap:AssetsCurrent$663.5M2025-12-312026-03-3110-Kfiling · viewer · series
17current liabilitiesus-gaap:LiabilitiesCurrent$463.6M2025-12-312026-03-3110-Kfiling · viewer · series
18retained earningsus-gaap:RetainedEarningsAccumulatedDeficit-$1.1B2025-12-312026-03-3110-Kfiling · viewer · series
19liabilitiesus-gaap:Liabilities$1.1B2025-12-312026-03-3110-Kfiling · viewer · series
20shares outstandingdei:EntityCommonStockSharesOutstanding294,527,0662026-08-102026-08-1210-Qfiling · viewer · series
21net incomeus-gaap:ProfitLoss-$450.6M2024-12-312026-03-3110-Kfiling · viewer · series
22assetsus-gaap:Assets$732.2M2023-12-312025-03-3110-Kfiling · viewer · series
23long term debtus-gaap:LongTermDebtNoncurrent$343.8M2025-12-312026-03-3110-Kfiling · viewer · series
24long term debtus-gaap:LongTermDebtNoncurrent$507.9M2024-12-312026-03-3110-Kfiling · viewer · series
25current assetsus-gaap:AssetsCurrent$572.0M2024-12-312026-03-3110-Kfiling · viewer · series
26current liabilitiesus-gaap:LiabilitiesCurrent$410.1M2024-12-312026-03-3110-Kfiling · viewer · series
27shares outstandingdei:EntityCommonStockSharesOutstanding279,071,5902026-04-282026-04-3010-K/Afiling · viewer · series
28shares outstandingdei:EntityCommonStockSharesOutstanding279,036,7472026-03-242026-03-3110-Kfiling · viewer · series
29gross profitus-gaap:GrossProfit$1.2M2024-12-312026-03-3110-Kfiling · viewer · series
30revenueus-gaap:RevenueFromContractWithCustomerIncludingAssessedTax$2.9M2024-12-312025-03-3110-Kfiling · viewer · series
31cashus-gaap:CashAndCashEquivalentsAtCarryingValue$79.1M2026-06-302026-08-1210-Qfiling · viewer · series
32operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$103.0M2026-06-302026-08-1210-Qfiling · viewer · series
33operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$72.9M2026-03-312026-05-1210-Qfiling · viewer · series
34operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$52.5M2025-09-302025-11-1410-Qfiling · viewer · series
35operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$11.4M2025-06-302026-08-1210-Qfiling · viewer · series

Limitations [top]

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.

Informational and educational only. Not investment advice. SEC and market data may contain errors.

If you have any comments about this page, the methodology and every line of code that produced it are in the public repository. However, due to the limited number of personnel, we are unable to provide a direct response.

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Source
GitHub · ezrakruger.cc
Photographs from Wikimedia Commons

bull: Raphael Schön from Vienna, Austria, CC BY 2.0; bear: U. S. Fish and Wildlife Service - Northeast Region, Public domain; elk: Oregon Department of Fish & Wildlife, Public domain; tortoise: NPS, Public domain; sloth: Charles J. Sharp, CC BY-SA 3.0; fox: Cp9asngf, CC BY-SA 4.0; sector-business_equipment: Sangitiana Fararano, CC BY-SA 2.0; sector-healthcare: User:Squidonius, myself, and User:Beliason (assumed)., CC BY-SA 4.0; sector-manufacturing: unknown, CC BY-SA 2.0; sector-shops: Wilfredor, CC BY-SA 4.0; sector-consumer_nondurables: Nielsoncaetanosalmeron, CC BY 4.0; sector-utilities: Lijovklm, CC BY-SA 4.0; sector-consumer_durables: Stilfehler, CC BY-SA 4.0; sector-chemicals: PEO ACWA, CC BY 2.0; sector-energy: Arne Hückelheim, CC BY-SA 3.0; sector-telecom: Wikideas1, CC0; sector-other: Downtowngal, CC BY-SA 4.0.

Updated Oct 9, 2026