olivLaw · US equity research
STAK Inc. STAK
Oil & Gas Field Machinery & Equipment · SIC 3533 · Vertical: Oil & Gas Field Machinery & Equipment (SIC 3533)
STAK Inc. is an industrial equipment company whose operations sit in China, designing and manufacturing specialized equipment for oilfields such as pumping and fracturing trucks. It is expanding into modular gas-to-electricity power systems aimed at AI data centers in North America, a new segment that could change its growth profile. Revenue grew 13.21% in fiscal 2026, to 28.2 million USD.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, STAK Inc. (STAK) stock was 1.43 USD (−6.54% on the day), with market capitalisation 27.5 m USD, P/E 71.5 on diluted EPS of 0.02 USD over the last 12 months, beta -0.89, 52-week range 0.29–9.27 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 52.3
- neutral
- Bollinger (20, 2)
- 0.76 – 1.86
- in the upper half of the band · %B 0.61 · band width 84.6%
- SMA 50 / 200
- 1.23 / 1.64
- mixed trend
- MACD (12, 26, 9)
- 0.10 / 0.07
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +36.2% | −1.1% | +37.3 pp | — |
| 3 months | −24.3% | −0.5% | −23.9 pp | — |
| 6 months | +36.2% | +4.4% | +31.8 pp | — |
| Year to date | +258.4% | +12.3% | +246.1 pp | — |
| 1 year | +105.8% | +13.5% | +92.2 pp | +15.0% |
| 3 years | unavailable | +76.4% | unavailable | +30.2% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 1-quarter history (min 190.5, median 190.5, max 190.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 21.1 m | 18.9 m | 24.9 m | 28.2 m |
| Revenue YoY | unavailable | −10.5% | +31.7% | +13.2% |
| Net income | 3.5 m | 2.4 m | -5.7 m | 425.5 k |
| Net income YoY | unavailable | −29.4% | −334.0% | unavailable |
| Diluted EPS | 0.35 | 0.24 | -0.53 | 0.02 |
| Diluted EPS YoY | unavailable | −31.4% | −320.8% | unavailable |
| net % | 16.4% | 12.9% | -22.9% | 1.5% |
| Free cash flow | -4.1 m | -2.8 m | -2.9 m | unavailable |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 4.2 m USD
- Financial debt
- 12.6 m USD
- Net debt
- 8.5 m USD
- Equity
- 16.1 m USD
- Total assets
- 37.4 m USD
- Debt / equity
- 0.79x
- Current ratio
- 1.72x
- ROE
- 2.9%
- ROA
- 1.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Revenue | 21.1 m | 18.9 m | 24.9 m | 28.2 m | SEC (XBRL)· 21 Oct 2026verified |
| Cost of revenue | 14.4 m | 13.2 m | 17.2 m | 20.8 m | SEC (XBRL)· 21 Oct 2026verified |
| Gross profit | 6.8 m | 5.7 m | 7.7 m | 7.5 m | SEC (XBRL)· 21 Oct 2026verified |
| Research & development | 1.4 m | 1.7 m | 3.3 m | 3.5 m | SEC (XBRL)· 21 Oct 2026verified |
| Operating income | 3.6 m | 2.8 m | -3.1 m | 1.1 m | SEC (XBRL)· 21 Oct 2026verified |
| Interest expense | 52.7 k | 126.4 k | 167.1 k | 238.4 k | SEC (XBRL)· 21 Oct 2026verified |
| Pre-tax income | 4.2 m | 2.7 m | -6.0 m | 917.1 k | SEC (XBRL)· 21 Oct 2026verified |
| Income tax | 715.0 k | 276.2 k | -270.0 k | 491.5 k | SEC (XBRL)· 21 Oct 2026verified |
| Net income | 3.5 m | 2.4 m | -5.7 m | 425.5 k | SEC (XBRL)· 21 Oct 2026verified |
| Diluted EPS | 0.35 | 0.24 | -0.53 | 0.02 | SEC (XBRL)· 21 Oct 2026verified |
| Weighted average diluted shares | 10.0 m | 10.0 m | 10.7 m | 19.0 m | SEC (XBRL)· 21 Oct 2026verified |
Balance sheet · USD
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | — | 658.2 k | 1.0 m | 4.2 m | SEC (XBRL)· 21 Oct 2026verified |
| Receivables | — | 3.5 m | 2.0 m | 2.8 m | SEC (XBRL)· 21 Oct 2026verified |
| Inventories | — | 8.3 m | 17.0 m | 19.0 m | SEC (XBRL)· 21 Oct 2026verified |
| Current assets | — | 15.3 m | 23.5 m | 33.6 m | SEC (XBRL)· 21 Oct 2026verified |
| Property, plant & equipment, net | — | 2.6 m | 293.0 k | 257.5 k | SEC (XBRL)· 21 Oct 2026verified |
| Intangibles (excl. goodwill) | — | 62.2 k | 2.0 m | 2.9 m | SEC (XBRL)· 21 Oct 2026verified |
| Total assets | — | 18.8 m | 26.8 m | 37.4 m | SEC (XBRL)· 21 Oct 2026verified |
| Accounts payable | — | 746.1 k | 3.7 m | 2.5 m | SEC (XBRL)· 21 Oct 2026verified |
| Short-term debt | — | 4.3 m | 5.6 m | 11.0 m | SEC (XBRL)· 21 Oct 2026verified |
| Long-term debt | — | — | 418.8 k | 1.6 m | SEC (XBRL)· 21 Oct 2026verified |
| Current liabilities | — | 8.1 m | 13.4 m | 19.5 m | SEC (XBRL)· 21 Oct 2026verified |
| Total liabilities | — | 8.2 m | 13.9 m | 21.4 m | SEC (XBRL)· 21 Oct 2026verified |
| Equity | 8.1 m | 10.6 m | 12.9 m | 16.1 m † | SEC (XBRL)· 21 Oct 2026verified |
| Shares outstanding at year end | — | — | 13.2 m | 19.2 m | SEC (XBRL)· 21 Oct 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Operating cash flow | -1.5 m | -2.7 m | -2.9 m | -2.7 m | SEC (XBRL)· 21 Oct 2026verified |
| Capex | 2.5 m | 17.4 k | 61.6 k | — | SEC (XBRL)· 05 Nov 2025verified |
| Free cash flow | -4.1 m ≈ | -2.8 m ≈ | -2.9 m ≈ | — | SEC (XBRL)· 05 Nov 2025derived |
| Investing cash flow | -3.0 m | -273.2 k | -2.4 m | -219.5 k | SEC (XBRL)· 21 Oct 2026verified |
| Financing cash flow | 5.0 m | 3.1 m | 5.7 m | 6.8 m | SEC (XBRL)· 21 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 27 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 27.5 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet59
- Growth42
- Valuation0
- Quality22
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.34 – 0.70 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E0.34 – 0.70 (Mid 0.44)10 companies used · median multiple 22.0x · quartiles 17.2x – 35.0xBKR, FET, FLOC, FTI, INVX, LSE, NOV, OMSE, WFRD, WHD
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 27/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 4.3% | 33 (vs peers) | 15% |
| Net margin · Quality | 1.5% | 27 (vs peers) | 9% |
| FCF conversion · Quality | -655.6% | 0 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 10.1% | 84 (on a fixed band) | 12% |
| EPS CAGR 3Y · Growth | -61.5% | 0 (on a fixed band) | 12% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 4.5x | 47 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 1.7x | 77 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 71.5x | 0 (vs peers) | 15% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -10.2% | 0 (on a fixed band) | 12% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet59/100 · 2/3 factors with a value
- Growth42/100 · 2/2 factors with a value
- Quality22/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation0/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
STAK Inc. (STAK). Latest full fiscal year: 2026; data up to 2026-06-30.
Figures computed from the financial statements: revenue 28.2 m USD in 2026; YoY growth 13.2%; net margin 1.5%; ROE 2.9%.
The estimated value range is 0.34–0.70 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.44 USD, the price of 1.43 USD leaves a potential of -69.3% (value / price − 1) and a margin of safety of -225.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 27/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 10.1%
- Current ratio: 1.7x
What contradicts it
- Net margin: 1.5%
- FCF conversion: -655.6%
- EPS CAGR 3Y: -61.5%
- P/E (TTM): 71.5x
- FCF yield: -10.2%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Oil & Gas Field Machinery & Equipment (SIC 3533) · same industry (4-digit SIC) · compared with 15 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BKRBaker Hughes Company | 49.5 bn | 17.1 | 15.1% | 10.1% | −0.3% | −1% / +48% |
| FTITechnipFMC plc | 25.1 bn | 20.3 | 38.6% | 12.0% | +9.4% | +43% / +211% |
| NOVNov Inc. | 6.4 bn | 45.2 | 2.3% | 1.6% | −1.4% | +17% / −4% |
| WFRDWeatherford International plc | 6.2 bn | 15.3 | 23.0% | 8.6% | −10.8% | +15% / −5% |
| WHDCactus, Inc. | 4.3 bn | 23.6 | 14.7% | 12.0% | −4.5% | +35% / +37% |
| DNOWDnow Inc. | 2.8 bn | — | -12.4% | -4.9% | +18.8% | +10% / +54% |
| INVXInnovex International, Inc. | 1.8 bn | 37.1 | 4.5% | 4.8% | +48.0% | +16% / +15% |
| FETForum Energy Technologies, Inc. | 845.3 m | 28.8 | 9.8% | 3.5% | −3.1% | +135% / +238% |
| OISOil States International, Inc | 510.2 m | — | -16.8% | -16.5% | −3.4% | +35% / +24% |
| OMSEOMS Energy Technologies Inc. | 167.2 m | 3.3 | 43.5% | 22.0% | unavailable | −16% / unavailable |
| LSELeishen Energy Holding Co., Ltd. | 75.4 m | 55.4 | 2.9% | 2.6% | −30.0% | −14% / unavailable |
| DTIDrilling Tools International Corporation | 52.9 m | — | -2.5% | -2.0% | +3.4% | −38% / −56% |
| STAKSTAK Inc. | 27.5 m | 71.5 | 2.9% | 1.5% | +13.2% | +106% / unavailable |
| GPUSHyperscale Data, Inc. | 247.1 k | — | -159.8% | -71.0% | −4.3% | −89% / −100% |
| SEISolaris Energy Infrastructure, Inc. | — | — | 8.4% | 7.2% | +98.7% | +20% / +573% |
| FLOCFlowco Holdings Inc. | — | 17.7 | 12.5% | 6.4% | +41.9% | +15% / unavailable |
1- and 3-year price returns: for STAK from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 0.99 Total return -31% · Per year -31% | 1.74 Total return 22% · Per year 22% | 2.62 Total return 83% · Per year 83% |
| 3 years | 1.07 Total return -25% · Per year -9% | 2.11 Total return 48% · Per year 14% | 3.47 Total return 143% · Per year 34% |
| 5 years | 1.16 Total return -19% · Per year -4% | 2.56 Total return 79% · Per year 12% | 4.59 Total return 221% · Per year 26% |
- Exit P/E± 0.53
- Net margin± 0.37
- Annual revenue growth± 0.29
- Annual dilution± 0.03
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 21 Oct 2026; since then the company filed 6-K (03 Nov 2026).
In brief
STAK Inc. is an industrial equipment company whose operations sit in China, designing and manufacturing specialized equipment for oilfields such as pumping and fracturing trucks. It is expanding into modular gas-to-electricity power systems aimed at AI data centers in North America, a new segment that could change its growth profile. Revenue grew 13.21% in fiscal 2026, to 28.2 million USD 1.
SWOT
Strengths
- The company has its own engineering, a supply chain and on-site delivery capability, which it highlights in its existing business 1.
- Sales of specialized vehicles grew considerably, showing an ability to capture higher-priced products 1.
- The company invests steadily in research and development, with academic partnerships for automation 1.
Weaknesses
Opportunities
- Modular gas power could open access to AI data center customers if pilot projects move into production 1.
- Expansion in the United States could bring new customers and financing if the Texas subsidiaries develop their activity 1.
- Equipment automation could increase product differentiation if internal development succeeds 1.
Risks
- Concentration of operations in Chinahigh
Most assets and operations are in mainland China, exposing the company to political and regulatory risk 1.
- Dilution from share and warrant issuesmedium
Recent share and warrant issues could reduce the stake of existing shareholders if warrants are exercised 1.
- Margin pressuremedium
The shift toward more expensive products reduced gross margin, and if costs rise further, profitability could fall 1.
- Uncertain development of modular powerhigh
The new segment has no significant reported revenue yet, and its success depends on contracts and execution 1.
- Dependence on oil industry demandmedium
Revenue comes mainly from the oil industry, which may cut investment when prices fall 1.
Investment thesis
What would need to be true (bull case)
- If modular power for AI data centers reaches commercial scale, the company could substantially diversify its revenue base 1.
- Rising vehicle sales show that higher-priced products can support revenue 1.
- Own engineering and academic partnerships may support technological differentiation over the long term 1.
What would break the thesis
- If the new segment does not turn into revenue, the company could remain dependent on a volatile oil sector 1.
- Falling gross margin and the fiscal 2025 losses may limit internal funding capacity 1.
- A complex offshore structure and share issues can bring dilution and governance risks for shareholders 1.
What to watch
- Revenue from modular gas power and first contractsnext 10-K
- Trend in gross margin as the product mix changesnext 10-K
- Effect of share and warrant issues on the capital structure2027
- Implementation of the offshore reorganization changes approved in October 2026next 20-F
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 21 Oct 2026; since then the company filed 6-K (03 Nov 2026).
The business
STAK Inc. is a holding company incorporated in the Cayman Islands that conducts its operations in mainland China through subsidiaries such as YLAN, based in Changzhou. The existing business covers research, manufacturing and sale of specialized oilfield production and maintenance equipment, plus integration of specialized vehicles and automation solutions 1. The company's Class A shares began trading on Nasdaq in February 2025 under the symbol STAK 1.
The company is building a new business in modular gas-to-electricity power generation, based on gas-fired internal combustion engines and generator sets delivered in containers 1. The stated aim is rapidly deployable on-site power for AI data centers and other energy-intensive uses where grid connection can take a long time 1. This activity is being developed in the United States through STAK Vision Energy Inc. and its Texas subsidiary 1.
Main products include oil pumping trucks, oil-well repair trucks, fracking trucks, well flushing and wax-removal trucks, boiler trucks and other maintenance vehicles. The company manufactures the equipment and outsources final vehicle assembly to producers holding special production permission 1.
Segments
Modular gas-to-electricity power
The modular gas-to-electricity segment is still in development, with subsidiaries set up in 2026 in the United States and Hong Kong, and the sources do not yet report significant revenue from it 1.
Market context
The oilfield equipment market depends on investment in extraction and well maintenance, and demand for specialized vehicles rose at the company in fiscal 2026 1. The market for modular power for AI data centers is a new direction for STAK, and the sources do not describe its size 1.
Gross margin declined in fiscal 2026, mainly because the product mix shifted toward more expensive vehicles with higher unit costs 1. The company remains exposed to volatility in oil industry demand and to the financing it has raised through small share issues 1.
Trends
- Demand for fast power for AI data centerstailwind
Grid connection delays may push large energy consumers toward on-site solutions, which STAK aims to serve with modular systems 1. If demand grows, the project could become a growth driver, but the sources do not yet confirm contracts.
- Shift toward higher-priced productsmixed
The company achieved higher average prices on specialized vehicles, which supported sales but reduced gross margin 1.
- Variable demand for oilfield equipmentheadwind
Sales of specialized equipment fell in fiscal 2026 and automation service income disappeared from revenue, pointing to fluctuating demand 1.
- Offshore reorganization and financingmixed
The offshore structure was extended in 2026 with new subsidiaries in the British Virgin Islands, Hong Kong and the United States, and the company issued shares and warrants for financing 1. These changes may support expansion but add complexity.
Competitive position
The analyzed sources do not name direct competitors. The company relies on its own engineering, supply chain and on-site delivery capability, which it presents as advantages in its existing business 1.
In modular gas power, STAK enters a market where other generator and data center power suppliers are active, though the sources do not list them 1. The claimed advantage is fast delivery instead of waiting for grid connection 1.
- Specialized oilfield vehicle manufacturers
The sources do not name individual competitors; the company only states that final vehicle assembly is outsourced to licensed manufacturers 1.
- Fracturing and cementing equipment suppliers
The sources do not identify rival firms; the company describes its own product lines without comparing the market 1.
- Gas generator suppliers for data centers
Competition in modular power is not detailed in the sources; the company cites only delivery speed as its differentiator 1.
- Oil industry automation integrators
The company earned automation service income in the prior year, but the sources do not name competitors in this area 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)03 Nov 2026
- Current report (foreign issuer)21 Oct 2026
- Annual report (foreign issuer)21 Oct 2026
- Current report (foreign issuer)09 Oct 2026
- Current report (foreign issuer)15 Sept 2026
- Current report (foreign issuer)08 Jun 2026
- Current report (foreign issuer)13 May 2026
- Current report (foreign issuer)14 Apr 2026
- Current report (foreign issuer)08 Jan 2026
- Annual report (foreign issuer)05 Nov 2025
Sources
- [1] Form 20-F, fiscal year ended 2026-06-30 · SEC / STAK Inc. · 21 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.