SEINYSEOil & Gas Field Machinery & EquipmentUS GAAP · USD

Solaris Energy Infrastructure, Inc.

Solaris Energy Infrastructure, Inc. is a U.S.-based equipment and services company focused on modular power generation and logistics solutions for energy-intensive operations. It operates through Solaris Power Solutions, which provides behind-the-meter and distributed power infrastructure, and Solaris Logistics Solutions, which supplies equipment and services for oil and natural gas well completions.

Revenue622m USD
+98.7 %y/y
Operating profit (EBIT)135m USD
+156.3 %y/y
EBIT margin21.8%
+4.9 ppy/y
Net income30.2m USD
+90.8 %y/y
Free cash flow-438m USD
−239.1 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-2000200400600800m USD2020: 103 m USD2020: EBIT -60 m USD20202021: 159 m USD2021: EBIT -0.39 m USD20212022: 320 m USD2022: EBIT 42 m USD20222023: 293 m USD2023: EBIT 50 m USD20232024: 313 m USD2024: EBIT 53 m USD20242025: 622 m USD2025: EBIT 135 m USD2025622135
RevenueOperating profit (EBIT)

Business

Share of revenue
Solaris Power Solutions54 %

Modular power generation, control, and distribution equipment for distributed power applications.

Solaris Logistics Solutions46 %

Specialized equipment and services for managing raw materials in oil and gas well completions.

Customers

Customers include data center operators, energy companies, and other commercial and industrial users that need flexible power infrastructure. The logistics segment serves oil and natural gas service workflows, where customers need equipment and support for completion operations and material handling.

Data center operators

Buy scalable power generation and distribution assets for rapid deployment and backup power needs.

Energy companies

Buy distributed power for hydrocarbon production, processing, transportation, and refining.

Commercial and industrial customers

Buy flexible on-demand power infrastructure for sites with grid constraints or reliability needs.

Oil and gas service companies

Buy logistics equipment and support for raw-material handling in well completions.

Strategy

The company is prioritizing expansion of its power generation fleet and deployment capacity, especially for large behind-the-meter applications. It is also building long-duration commercial relationships in data center and energy markets while maintaining a logistics platform tied to oil and gas completion activity.

Grow Solaris Power Solutions capacityMedium term

More deployed MW increases the company’s ability to serve large power loads and deepen customer relationships.

Secure long-term power contractsShort term

Multi-year agreements improve visibility on utilization and match asset deployment with customer demand.

Support data center and AI-related demandMedium term

These customers need rapid, scalable power where grid access is constrained or delayed.

Preserve logistics platform relevance in oil and gasMedium term

The logistics segment diversifies the business and serves completion activity in hydrocarbon markets.

Geography

Solaris is headquartered in Houston, Texas, and its operating footprint is concentrated in the United States. Its facilities include power-solution sites in Texas, Mississippi, Tennessee, and New Mexico, plus logistics facilities in Texas, which supports deployment, maintenance, and manufacturing close to end markets.

Risks

The business depends on reliable execution of complex power systems, so equipment performance, downtime, and supply-chain availability can directly affect customer service and reputation. It also faces concentration risk in the power segment, technology obsolescence, cybersecurity exposure, and policy or trade-related cost pressure that can affect both demand and input costs.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Customer concentration in Solaris Power Solutions1Power load and reliability risk2Supply-chain dependence for generation equipment3Technology obsolescence4Cybersecurity risk5Tariffs and trade policy6
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Customer concentration in Solaris Power SolutionsImpact: HighLikelihood: Medium

    A large share of segment revenue comes from a single data center customer, making results sensitive to that relationship.

    Exposure: Solaris Power Solutions

  2. Power load and reliability riskImpact: HighLikelihood: Medium

    If distributed power systems cannot handle increasing loads, customers may experience downtime and service disruption.

    Exposure: Behind-the-meter power applications

  3. Supply-chain dependence for generation equipmentImpact: MediumLikelihood: Medium

    The company relies on key suppliers for power generation capacity and may face shortages or price increases.

    Exposure: Power generation equipment

  4. Technology obsolescenceImpact: MediumLikelihood: Medium

    Rapid advances in power and AI-related infrastructure can make current solutions less competitive.

    Exposure: Distributed power and data center power

  5. Cybersecurity riskImpact: MediumLikelihood: Medium

    Operational systems and customer-facing infrastructure could be disrupted by cyber incidents.

    Exposure: Enterprise systems and operations

  6. Tariffs and trade policyImpact: MediumLikelihood: Medium

    Import restrictions or retaliatory measures could increase supply-chain costs or reduce customer demand.

    Exposure: Supply chain and customer projects

Accounting

Judgemental items
Business combination fair value measurements

Acquired assets and liabilities are valued using assumptions about future revenues, costs, discount rates, and renewal curves.

Impact: Can materially affect goodwill, asset bases, and future depreciation/amortization

Goodwill and long-lived asset impairment

Power assets and acquired businesses must be tested if performance or market conditions weaken.

Impact: Potential non-cash write-downs if expected cash flows decline

Tax Receivable Agreement liability

Payments depend on future tax savings and estimates of taxable income.

Impact: Can create significant contingent cash obligations and balance-sheet liabilities

Lease accounting

Facilities and equipment leases affect reported assets, liabilities, and operating costs.

Impact: Impacts leverage metrics and expense recognition timing

Purchase commitments

Fleet growth requires committed capital spending and equipment orders.

Impact: Affects cash flow timing and balance-sheet commitments

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026