Zeo Energy Corporation (ZEO)

Nasdaq: ZEO · Construction - Special Trade Contractors · Dallas, TX · filing with the SEC since 2021

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Grade3.1

◀ Past 2.0● Present 2.8▶ Future 5.4

3 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Zeo Energy Corporation

Nine metrics read from its own filings, by tense

Headline grade

3.1/10

◀ Past2.040% of the headline

● Present2.835% of the headline

▶ Future5.425% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 6 read as filed from the record and 3 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

2.0/1040% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

0.5/10

Has it survived what it has been through?

16 warning events since 2021; the latest 2026-10-26.

weight 33% of this tense · 5th percentile among 19 sector filers · read for itself

From the record

Zeo Energy Corporation's filings since 2021 show 16 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, 6 times, the latest 2026-10-26); a warning not to rely on past financial statements (8-K item 4.02, 2 times, the latest 2024-11-14); an auditor change (8-K item 4.01, 2 times, the latest 2025-11-04); a late-report notice (Form NT 10-K or NT 10-Q, 6 times, the latest 2026-04-01) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

1.4/10

What has it actually done, year after year?

-20.5% a year over 3 filed years; profitable in 0 of 3.

weight 45% of this tense · 14th percentile among 19 sector filers · read for its customers

From the record

Zeo Energy Corporation's 3 filed years say what it did: revenue went from $110 million in fiscal 2023 to $69 million in fiscal 2025, down 20.5% a year; it rose in 0 of 2 years; the deepest fall was 37% from fiscal 2023 to fiscal 2025; net income was positive in 0 of 3 of those years (its annual reports).

What it rests on

revenue growth over the filed span-20.5%bottom 3% of its family
the share of years revenue rosebottom 3% of its family
the share of filed years with a profitbottom 8% of its family
the deepest fall from a revenue peak36.8%bottom 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

5.2/10

How has it treated the people who own it?

SI estimate 5.2/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 10 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 10 members with one.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: family median, 10 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Zeo Energy Corporation's shareholder treatment is put at 5.2 of 10 with a confidence of 20 of 100, because fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 10 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

● Present

What are they doing right now?

2.8/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

4.0/10

Is it financially healthy right now?

ROE -263%: lost 263¢ per shareholder dollar. Leverage 91%: owes 91¢ per asset dollar.

weight 33% of this tense · 40th percentile among 19 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Zeo Energy Corporation lost about 263 cents for every dollar of shareholders' money, and gross profitability: its products earned about 67 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 91 cents per dollar of assets (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 18% of its family
return on equitybottom 9% of its family
gross profit against assetstop 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

2.3/10

How strong is its position in its industry?

bottom 23% of 19 in its family; net margin -20.2%.

weight 45% of this tense · 23rd percentile among 19 sector filers · read for its customers

From the record

Zeo Energy Corporation's standing among 19 graded names in its industry family: revenue of $69 million in fiscal 2025 ranks in the bottom 32% by size; a net margin of -20.2% ranks in the bottom 29%; revenue growth of -20.5% a year over the last 2 filed years ranks in the bottom 8% (its annual reports).

What it rests on

revenue against the family$69.3Mbottom 32% of its family
net margin-20.2%bottom 29% of its family
three-year revenue growth-20.5%bottom 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

1.9/10

What are the people in charge doing?

SI estimate 1.9/10, confidence 35 of 100 (one part).

weight 22% of this tense · 19th percentile among 9 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the bottom 19% of 9 in its family; the record of its people begins on 2024-03-15 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.7 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read: The record of its people begins on 2024-03-15 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.7 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 9 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Zeo Energy Corporation's leadership is put at 1.9 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the bottom 19% of 9 in its family; the record of its people begins on 2024-03-15 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.7 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.4/1025% of the headline grade · 2 of 3 filed, 1 estimated

Room to expand

as filed

6.3/10

How much room does it have to grow?

top 36% of 19 in its family for room to expand.

weight 33% of this tense · 64th percentile among 19 sector filers · read for itself

From the record

Zeo Energy Corporation's room to grow, from the newest filed statements (fiscal 2025): cash of $6 million against debt of $79 thousand leaves 10.6% of its assets as net cash, top 25% of its family; cash from operations less capital spending is -14.3% of revenue (bottom 18%); a gross margin of 55.2% (top 3%) (its annual report).

What it rests on

cash less debt against assets10.6%top 25% of its family
cash from operations less capital spending against revenue-14.3%bottom 18% of its family
gross margin55.2%top 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

4.3/10

What could actually drive growth from here?

bottom 43% of 19 in its family for growth drivers.

weight 33% of this tense · 43rd percentile among 19 sector filers · read for its customers

From the record

Zeo Energy Corporation's growth drivers, from the filed years to fiscal 2025: revenue grew -20.5% a year over the last three filed years against -20.5% over all 3, speeding up (bottom 42% of its family); the newest year grew -5.3% (bottom 34%); capital spending grew 8.7% a year (top 46%) (its annual reports). Zeo Energy Corporation reported 2 product lines in fiscal 2025: Solar System Installations Net at $68 million (98%), Roofing Installations at $1 million (2%); 0 of 2 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span+0.0 points a yearbottom 42% of its family
the newest year's revenue growth-5.3%bottom 34% of its family
three-year growth of capital spending8.7%top 46% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

SI estimate

5.7/10

Did its newest year beat what its own record pointed to?

SI estimate 5.7/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 15 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 15 members with one.
What the record cannot read: The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned: family median, 15 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Zeo Energy Corporation's expectations vs reality is put at 5.7 of 10 with a confidence of 20 of 100, because the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 15 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton ZEO · research, not advice