SEI

Solaris Energy Infrastructure

Industrials · fiscal year ending 2025-12-31

Through the investors’ lenses

2 of 4 cleared8 of 10 criteria

Each of these investors has said in public what they look at before buying. Click a name to see how this company measures up — a tick where it passes one of their tests, a cross where it does not.

Warren Buffett 3/4

Measure	SEI	Checked against
Owner earnings	$-532.30m	positive	✗
Return on equity	5.3%	US median 2.8%	✓
Debt to equity	0.33x	US median 0.57x	✓
Operating margin	21.8%	US median 3.1%	✓

Passes 3 of 4. These are the measures Warren Buffett published, applied to Solaris Energy Infrastructure’s own figures — their criteria, not their view of this company. What he looks at, and why →

Benjamin Graham 2/3

Measure	SEI	Checked against
Current ratio	2.96x	2.00x published	✓
Long-term debt to working capital	0.56x	1.00x published	✓
Positive earnings, ten years running	4 yrs	10 published	✗

Passes 2 of 3. These are the measures Benjamin Graham published, applied to Solaris Energy Infrastructure’s own figures — their criteria, not their view of this company. What he looks at, and why →

Joel Greenblatt 1/1

Measure	SEI	Checked against
Return on capital employed	18.1%	US median 5.1%	✓

Passes 1 of 1. These are the measures Joel Greenblatt published, applied to Solaris Energy Infrastructure’s own figures — their criteria, not their view of this company. What he looks at, and why →

Peter Lynch 2/2

Measure	SEI	Checked against
Debt to equity	0.33x	US median 0.57x	✓
Net margin	4.8%	US median 2.0%	✓

Passes 2 of 2. These are the measures Peter Lynch published, applied to Solaris Energy Infrastructure’s own figures — their criteria, not their view of this company. What he looks at, and why →

Basis	Payout	Why
Operating cash flow	10.4%	why Before capital spending.
Free cash flow	negative	why OCF fell $438m short of capex — the dividend was not funded from free cash flow.

No GAAP earnings figure is shown. This company does not report the inputs for it in its XBRL filings — capital expenditure, in particular, is often folded into a single investing total rather than tagged on its own. The figure is absent from the filings, not zero, and inventing one from a balance-sheet movement would be a guess dressed as a measurement.

Nothing is marked as applying, deliberately. The basis that governs here is free cash flow, and this year it yields no ratio at all. The figure above is shown for completeness; treating it as the answer is the substitution this page exists to prevent.

Coverage rating 6 / 100 — Not covered. ? Peer standing 6/50Direction 0/30Stability 1/20

Free cash flow payout, last 3 years

Fiscal year	Payout
2023-12-31	56.4%
2020-12-31	31.6%
2019-12-31	15.9%

Coverage has deteriorated three years running, 15.9% to 56.4%. Still covered, but moving the wrong way.

11% of the 118 industrials here pay out more — at the demanding end.

The arithmetic

Operating cash flow — dividends paid $21.8m ÷ operating cash flow $209m
Free cash flow — dividends paid $21.8m ÷ (operating cash flow $209m − capex $647m)

Where the figures came from

10-K filed 2026-02-27 · accession 0001628280-26-012501

Every one is public at sec.gov and free to check. That is the point — you should not have to take our word for any of it.

Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell us — that is more useful to us than agreement.

Also on: rated not covered · when it files.

Who else looks like this

Every figure above is computed from Solaris Energy Infrastructure’s own filing, and every company here is measured the same way. Screen all of them on any of these twelve measures, or on the rules four investors published — free, and nothing you screen leaves your browser.

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