# Soluna Holdings Inc. (SLNH) fundamentals

Data as of 2026-09-09. NASDAQ, United States. Sector: Technology / Software. Price $1.27, market value $311 million.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Soluna Holdings Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 7.4×**. Each dollar of revenue is priced at 7.4×.
- **Price / book: 1.8×**. The shares trade at 1.8× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -14.4%**. Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: 0.7%**. Soluna Holdings Inc. keeps 0.7% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: -127.0%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -179.7%**. The company reported a net loss over the last twelve months.
- **Return on equity: -99.7%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -52.6%**. Return on all capital, debt included, is -52.6%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -41.6%**. Each dollar of assets produces -41.6% of profit.

## Growth
- **Revenue growth (1 yr): -21.8%** (3-yr 1.3%/yr, 5-yr 118.6%/yr). Revenue fell 21.8% over the last year, against 118.6% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 84.1%**. Earnings per share rose 84.1%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.50**. Debt is 0.50 times equity: a conservative balance sheet.
- **Current ratio: 1.87** (quick 1.87). Current assets cover the next year's liabilities 1.87 times.
- **Altman Z-score: 2.70**. A Z-score of 2.70 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Soluna Holdings Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): 160.9%** (YTD 2.6%, 3-mo -10.4%). The shares are up 160.9% over twelve months including dividends.
- **From 52-week high: -75.3%** (130.9% above the low). Trading 75% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 50**. An RSI of 50 is neutral.
- **Beta (1 yr): 4.46** (volatility 193%). Beta of 4.46 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=SLNH · Page: https://foliofundamentals.com/stocks/slnh

Not investment advice.