ERock
EROCNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $7.87 Prior regular-session close from the quote source.
- $8.23–$8.92 Regular-session low and high so far today.
- 3.6M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $6.41–$20.70 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own EROC if ERock is not yet analyzable as a durable compounder from the data provided; the investable question is whether an electrical-industrial-apparatus business can scale without its leveraged balance sheet and thin equity base forcing dilution.
EROC price history
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Investment thesis
What must happen next
ERock’s near-term value depends on its ability to use existing liquidity as a bridge to commercial proof, not as a substitute for an unproven or cash-burning operating model.HoldingMateriality: High
GAAP cash and cash equivalents were $108.1 million at FY 2025 period end. If liquidity bridges the company to customer traction, shareholders retain optionality; if it only funds burn, the next financing likely drives the outcome.
Watch: Customer deployments or orders are delayed enough that cash is consumed before commercial traction is demonstrated.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP cash and cash equivalents were $108.1 million at FY 2025 period end.
Open source ↗The capital structure may be the binding constraint on shareholder returns, because the business must finance growth without letting creditors absorb the economics.WeakeningMateriality: High
GAAP liabilities were $323.3 million at FY 2025 period end. Even strong customer demand can fail to create per-share value if debt service, covenants, or refinancing terms capture the upside.
Watch: Lenders require restrictive covenants, cash sweeps, warrants, or high-cost refinancing before operating cash generation is visible.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP liabilities were $323.3 million at FY 2025 period end.
Open source ↗Common shareholders need the operating model to rebuild equity value quickly enough to avoid dilution or subordination in the capital stack.WeakeningMateriality: Medium
GAAP stockholders’ equity including noncontrolling interests was only $38 thousand at FY 2025 period end. The difference between a turnaround and a value trap is whether future enterprise value accrues to existing common holders or to new capital providers.
Watch: A large equity issuance, preferred-stock financing, or warrant package is used to fund operations.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP stockholders’ equity including noncontrolling interests was only $38 thousand at FY 2025 period end.
Open source ↗The asset base must represent productive electrical-apparatus capacity or customer-deployment capability rather than stranded investment.HoldingMateriality: Medium
GAAP assets were $257.9 million at FY 2025 period end. If assets convert into revenue, margin, and cash, the balance sheet can heal; if they are idle or impaired, the company has little cushion.
Watch: Customers choose alternative suppliers or technologies for electrical industrial apparatus, leaving ERock capacity underutilized.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP assets were $257.9 million at FY 2025 period end.
Open source ↗
Full investment case & evidence
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Original research
ERock’s near-term value depends on its ability to use existing liquidity as a bridge to commercial proof, not as a substitute for an unproven or cash-burning operating model. If liquidity bridges the company to customer traction, shareholders retain optionality; if it only funds burn, the next financing likely drives the outcome.
The capital structure may be the binding constraint on shareholder returns, because the business must finance growth without letting creditors absorb the economics. Even strong customer demand can fail to create per-share value if debt service, covenants, or refinancing terms capture the upside.
Common shareholders need the operating model to rebuild equity value quickly enough to avoid dilution or subordination in the capital stack. The difference between a turnaround and a value trap is whether future enterprise value accrues to existing common holders or to new capital providers.
The asset base must represent productive electrical-apparatus capacity or customer-deployment capability rather than stranded investment. If assets convert into revenue, margin, and cash, the balance sheet can heal; if they are idle or impaired, the company has little cushion.
All standing thesis claims
Original report summary
ERock is not yet analyzable as a durable compounder from the data provided; the investable question is whether an electrical-industrial-apparatus business can scale without its leveraged balance sheet and thin equity base forcing dilution.
Bull case and bear case
Bull case and bear case for ERock
Where the evidence on ERock disagrees: Mixed on the latest evidence (Oct 22, 2026). Of its 4 thesis points, 2 holding and 2 weakening.
Bull case: what the evidence supports
ERock’s near-term value depends on its ability to use existing liquidity as a bridge to commercial proof, not as a substitute for an unproven or cash-burning operating model.
The asset base must represent productive electrical-apparatus capacity or customer-deployment capability rather than stranded investment.
Bear case: what the evidence questions
The capital structure may be the binding constraint on shareholder returns, because the business must finance growth without letting creditors absorb the economics.
Common shareholders need the operating model to rebuild equity value quickly enough to avoid dilution or subordination in the capital stack.
Thesis-Break Engine
Thesis-break watch · ERock
No break has crossed ERock’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
ERock filed an SEC 8-K on 2026-08-11: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedEntered a material definitive agreement.
ERock filed an SEC 8-K on 2026-06-15: Entered a material definitive agreement. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Customer deployments or orders are delayed enough that cash is consumed before commercial traction is demonstrated.
- Lenders require restrictive covenants, cash sweeps, warrants, or high-cost refinancing before operating cash generation is visible.
- A large equity issuance, preferred-stock financing, or warrant package is used to fund operations.
- Customers choose alternative suppliers or technologies for electrical industrial apparatus, leaving ERock capacity underutilized.
EROC news
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Financial statements
EROC income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
EROC: quick answers
- What is EROC's short interest?
- As of October 30, 2026, 13.0M EROC shares were sold short, 26.9% of its shares outstanding, up 12.8% from the count before. At the stock's average daily volume that is 4.8 days to cover. FINRA publishes the count twice a month. EROC short interest history