Sunrun Earnings: Continued Focus on Cash Generation Amid Soft Demand Environment
We plan to update our Sunrun model in the coming days, but after our first look, we expect to maintain our $14 fair value estimate. We view shares as fairly valued.
We plan to update our Sunrun model in the coming days, but after our first look, we expect to maintain our $14 fair value estimate. We view shares as fairly valued.
Sunrun is the market leader in residential solar installations with high-teens market share.
Sunrun’s economics are sensitive to customer renewal expectations, which are highly uncertain.
Metric
|
RUN
|
SEDG
|
ENPH
|
---|---|---|---|
Price/Earnings (Normalized) | 100.09 | 12.10 | 38.66 |
Price/Book Value | 0.62 | 1.24 | 19.26 |
Price/Sales | 1.48 | 1.24 | 10.06 |
Price/Cash Flow | — | — | 34.02 |
Metric
|
RUN
|
SEDG
|
ENPH
|
---|---|---|---|
Quick Ratio | 0.52 | 1.85 | 4.02 |
Current Ratio | 1.31 | 3.70 | 4.59 |
Interest Coverage | −2.68 | 12.42 | 51.17 |
Metric
|
RUN
|
SEDG
|
ENPH
|
---|---|---|---|
Return on Assets (Normalized) | −7.04% | −0.77% | 18.18% |
Return on Equity (Normalized) | −24.56% | −1.44% | 64.33% |
Return on Invested Capital (Normalized) | −4.87% | −1.05% | 24.93% |
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
---|---|---|---|---|---|
FSLR
| First Solar Inc | Psqtcmk | Wcd | $29.1 Bil | |
ENPH
| Enphase Energy Inc | Nzrjzffb | Jpbxt | $17.8 Bil | |
NXT
| NEXTracker Inc Ordinary Shares - Class A | Lyyrqttg | Tzdd | $8.0 Bil | |
XNYIF
| Xinyi Solar Holdings Ltd | — | Qlrl | $6.0 Bil | |
XISHY
| Xinyi Solar Holdings Ltd ADR | — | Spx | $6.0 Bil | |
GCPEF
| GCL Technology Holdings Ltd | — | Xljpm | $5.0 Bil | |
SEDG
| SolarEdge Technologies Inc | Vfzhcvjcd | Pkdm | $2.8 Bil | |
SHLS
| Shoals Technologies Group Inc Ordinary Shares - Class A | Cplssnnf | Ycgrg | $1.3 Bil | |
SPWR
| SunPower Corp | Rdym | Zpjj | $512.4 Mil |