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Sunrun (RUN) Financials

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$15.09 +0.48 (+3.28%)
As of 12:00 PM Eastern
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Annual Income Statements for Sunrun

Annual Income Statements for Sunrun

This table shows Sunrun's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -53 75 125 27 26 -173 -79 173 -1,604 -2,846 450
Consolidated Net Income / (Loss)		 -249 -321 -288 -260 -391 -627 -981 -850 -2,683 -4,355 -1,009
Net Income / (Loss) Continuing Operations		 -249 62 -288 -266 -391 -627 -981 -850 -2,683 -4,355 -1,009
Total Pre-Tax Income 		-254 -265 -275 -251 -399 -688 -971 -847 -2,696 -4,382 -1,176
Total Operating Income		 -219 -192 -181 -122 -216 -465 -666 -662 -1,979 -3,695 -126
Total Gross Profit		 136 467 92 225 213 922 244 299 163 329 897
Total Revenue		 305 860 533 760 859 922 1,610 2,321 2,260 2,038 2,957
Operating Revenue		 305 860 533 760 859 922 1,610 2,321 2,260 2,038 2,957
Total Cost of Revenue		 169 394 441 535 646 0.00 1,365 2,023 2,097 1,709 2,060
Operating Cost of Revenue		 169 394 441 535 646 0.00 1,365 2,023 2,097 1,709 2,060
Total Operating Expenses		 355 276 273 347 428 1,387 911 961 2,142 4,024 1,023
Selling, General & Admin Expense		 84 92 107 117 125 1,010 265 195 221 245 278
Marketing Expense		 145 169 146 207 275 352 623 745 741 617 709
Research & Development Expense		 9.66 10 15 19 24 20 23 21 22 39 36
Impairment Charge		 - - - - - - 0.00 0.00 1,158 3,122 0.00
Total Other Income / (Expense), net		 -35 -73 -94 -135 -184 -222 -305 -185 -717 -687 -1,050
Interest & Investment Income		 -33 -73 -92 -132 -174 -231 -328 -446 -653 -848 -997
Other Income / (Expense), net		 -1.77 0.84 -1.87 2.79 -9.25 8.19 23 261 -64 162 -53
Income Tax Expense		 -5.30 56 12 9.32 -8.22 -61 9.27 2.29 -13 -27 -167
Net Income / (Loss) Attributable to Noncontrolling Interest		 -221 -396 -413 -287 -417 -454 -901 -1,023 -1,078 -1,509 -1,459
Basic Earnings per Share		 ($0.96) $0.73 $1.19 $0.24 $0.23 ($1.24) ($0.39) $0.82 ($7.41) ($12.81) $1.96
Weighted Average Basic Shares Outstanding		 55.09M 102.37M 105.43M 110.09M 116.40M 139.61M 205.13M 211.35M 216.64M 222.22M 229.81M
Diluted Earnings per Share		 ($0.96) $0.72 $1.16 $0.23 $0.21 ($1.24) ($0.39) $0.80 ($7.41) ($12.81) $1.71
Weighted Average Diluted Shares Outstanding		 55.09M 104.96M 108.21M 117.11M 123.88M 139.61M 205.13M 219.16M 216.64M 222.22M 264.47M
Weighted Average Basic & Diluted Shares Outstanding		 55.40M 101.90M 107.73M 111.10M 119.39M 202.58M 208.42M 214.42M 219.59M 226.21M 234.49M

Quarterly Income Statements for Sunrun

This table shows Sunrun's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -1,069 -350 -88 139 -84 -2,814 50 280 17 104 168
Consolidated Net Income / (Loss)		 -1,471 -535 -283 -260 -412 -3,400 -277 -279 -278 -175 -297
Net Income / (Loss) Continuing Operations		 -1,471 -535 -283 -260 -412 -3,400 -277 -279 -278 -175 -297
Total Pre-Tax Income 		-1,441 -537 -285 -271 -426 -3,400 -388 -374 -280 -135 -290
Total Operating Income		 -1,347 -198 -183 -128 -128 -3,256 -115 -112 3.65 97 -44
Total Gross Profit		 45 34 32 95 103 97 99 120 243 435 220
Total Revenue		 563 517 458 524 537 518 504 569 725 1,159 722
Operating Revenue		 563 517 458 524 537 518 504 569 725 1,159 722
Total Cost of Revenue		 518 483 426 429 434 421 405 450 481 723 502
Operating Cost of Revenue		 518 483 426 429 434 421 405 450 481 723 502
Total Operating Expenses		 1,393 232 216 223 231 3,354 214 232 240 338 263
Selling, General & Admin Expense		 53 57 51 61 61 72 58 72 66 83 75
Marketing Expense		 176 167 152 152 162 151 146 152 165 246 179
Research & Development Expense		 5.04 7.66 12 10 8.18 8.79 9.98 8.06 9.27 8.82 10
Total Other Income / (Expense), net		 -94 -339 -102 -143 -298 -144 -273 -262 -284 -232 -247
Interest & Investment Income		 - - -192 -207 -216 - -227 -247 -266 -256 -264
Other Income / (Expense), net		 78 -158 90 64 -83 90 -45 -15 -18 24 17
Income Tax Expense		 30 -1.60 -2.20 -11 -14 0.14 -111 -95 -2.17 40 7.07
Net Income / (Loss) Attributable to Noncontrolling Interest		 -401 -185 -195 -399 -328 -586 -327 -559 -294 -279 -465
Basic Earnings per Share		 ($4.92) ($1.63) ($0.40) $0.63 ($0.37) ($12.67) $0.22 $1.22 $0.07 $0.45 $0.71
Weighted Average Basic Shares Outstanding		 217.34M 216.64M 219.88M 222.47M 223.70M 222.22M 226.41M 229.17M 230.98M 229.81M 234.58M
Diluted Earnings per Share		 ($4.92) ($1.62) ($0.40) $0.55 ($0.37) ($12.59) $0.20 $1.07 $0.06 $0.38 $0.62
Weighted Average Diluted Shares Outstanding		 217.34M 216.64M 219.88M 255.11M 223.70M 222.22M 257.91M 261.15M 267.47M 264.47M 272.35M
Weighted Average Basic & Diluted Shares Outstanding		 217.88M 219.59M 221.66M 223.54M 224.34M 226.21M 228.49M 230.73M 232.04M 234.49M 238.55M

Annual Cash Flow Statements for Sunrun

This table details how cash moves in and out of Sunrun's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 52 -12 17 63 59 345 142 103 35 -40 290
Net Cash From Operating Activities		 -105 -200 -96 -62 -204 -318 -817 -849 -821 -766 -421
Net Cash From Continuing Operating Activities		 -105 -200 -96 -62 -204 -318 -817 -849 -821 -766 -421
Net Income / (Loss) Continuing Operations		 -249 -321 -288 -260 -391 -627 -981 -850 -2,683 -4,355 -1,009
Consolidated Net Income / (Loss)		 -249 -321 -288 -260 -391 -627 -981 -850 -2,683 -4,355 -1,009
Depreciation Expense		 71 98 129 156 187 243 388 451 532 621 726
Non-Cash Adjustments To Reconcile Net Income		 24 59 53 57 37 206 272 143 1,498 3,407 249
Changes in Operating Assets and Liabilities, net		 49 -36 9.63 -15 -38 -140 -497 -593 -167 -439 -386
Net Cash From Investing Activities		 -627 -696 -777 -811 -843 -498 -1,686 -2,086 -2,613 -2,701 -2,500
Net Cash From Continuing Investing Activities		 -627 -696 -777 -811 -843 -498 -1,686 -2,086 -2,613 -2,701 -2,500
Purchase of Property, Plant & Equipment		 -13 -13 -7.96 -4.95 -25 -3.10 -8.58 -18 -21 -1.57 -1.78
Acquisitions		 -20 -5.00 0.00 0.00 -2.72 472 0.00 -75 -5.00 0.00 0.00
Other Investing Activities, net		 -595 -678 -769 -806 -815 -967 -1,678 -1,993 -2,587 -2,699 -2,499
Net Cash From Financing Activities		 489 899 891 936 1,107 1,161 2,646 3,037 3,469 3,427 3,211
Net Cash From Continuing Financing Activities		 784 884 890 936 1,107 1,161 2,646 3,037 3,469 3,427 3,211
Repayment of Debt		 - -461 -554 -568 -892 -605 -1,668 -2,734 -2,713 -2,398 -2,882
Repurchase of Preferred Equity		 - - - - - - - - -1.55 -347 -2.12
Payment of Dividends		 29 -40 -55 -78 -77 -111 -196 -218 -225 -309 -247
Issuance of Debt		 20 794 919 998 1,367 934 3,297 4,594 4,870 4,809 4,494
Issuance of Common Equity		 279 574 595 345 712 893 1,239 1,415 1,572 1,812 2,002
Other Financing Activities, net		 454 32 -15 241 1.47 50 -26 -20 -34 -141 -154
Cash Interest Paid		 12 26 42 76 99 120 225 300 433 591 742
Cash Income Taxes Paid		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Quarterly Cash Flow Statements for Sunrun

This table details how cash moves in and out of Sunrun's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 31 36 -205 259 -32 -63 31 33 144 81 -148
Net Cash From Operating Activities		 -63 -116 -143 -209 -156 -258 -104 -293 -122 97 11
Net Cash From Continuing Operating Activities		 -63 -116 -143 -209 -156 -258 -104 -293 -122 97 11
Net Income / (Loss) Continuing Operations		 -1,471 -535 -283 -260 -412 -3,400 -277 -279 -278 -175 -297
Consolidated Net Income / (Loss)		 -1,471 -535 -283 -260 -412 -3,400 -277 -279 -278 -175 -297
Depreciation Expense		 139 143 151 152 156 162 170 190 182 184 190
Non-Cash Adjustments To Reconcile Net Income		 1,244 142 39 48 91 3,256 -24 102 -99 159 106
Changes in Operating Assets and Liabilities, net		 25 135 -49 -149 9.68 -277 27 -306 74 -71 12
Net Cash From Investing Activities		 -741 -661 -535 -609 -764 -792 -655 -693 -744 -409 -429
Net Cash From Continuing Investing Activities		 -741 -661 -535 -609 -764 -792 -655 -693 -744 -409 -429
Purchase of Property, Plant & Equipment		 -4.67 -4.66 3.53 -0.74 -0.20 -0.63 -0.22 -0.84 -1.49 0.77 -0.41
Acquisitions		 - - - - - - 0.00 - - - -3.72
Other Investing Activities, net		 -737 -651 -539 -605 -764 -792 -655 -692 -742 -410 -424
Net Cash From Financing Activities		 836 813 474 1,076 889 988 791 1,019 1,009 393 270
Net Cash From Continuing Financing Activities		 836 815 474 1,076 889 988 791 1,019 1,009 393 270
Repayment of Debt		 -1,451 -627 -772 -1,068 -455 69 -1,041 -199 -1,235 -382 -953
Repurchase of Preferred Equity		 - - -174 - - - -2.12 - - - -5.46
Payment of Dividends		 -52 -52 -75 -108 -56 -70 -60 -59 -58 -70 -76
Issuance of Debt		 2,019 1,029 1,355 1,849 912 694 1,669 530 1,898 397 991
Issuance of Common Equity		 355 460 164 632 495 521 256 679 525 542 306
Other Financing Activities, net		 -35 4.08 -25 -229 -6.22 120 -31 67 -120 -94 7.54
Cash Interest Paid		 114 120 137 145 142 167 172 182 193 194 211
Cash Income Taxes Paid		 - - 0.00 - - - 0.00 - - - 0.00

Annual Balance Sheets for Sunrun

This table presents Sunrun's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,735 3,573 3,963 4,750 5,806 14,383 16,483 19,269 20,450 19,898 22,611
Total Current Assets		 360 369 417 461 734 1,138 1,548 2,098 1,882 1,723 2,156
Cash & Equivalents		 204 206 203 227 270 520 618 741 679 575 823
Restricted Cash		 9.20 12 39 78 94 188 233 212 309 372 413
Accounts Receivable		 60 60 60 66 78 95 146 214 172 171 263
Inventories, net		 71 67 94 79 261 283 507 784 460 402 501
Prepaid Expenses		 5.92 9.80 9.20 8.56 32 51 45 147 263 203 155
Plant, Property, & Equipment, net		 2,037 2,678 3,198 3,855 0.00 8,203 9,460 10,988 13,029 15,032 16,818
Total Noncurrent Assets		 338 526 348 433 5,073 5,042 5,476 6,183 5,539 3,143 3,637
Other Noncurrent Operating Assets		 228 420 246 336 4,958 744 1,183 1,903 2,417 3,143 3,637
Total Liabilities & Shareholders' Equity		 2,735 3,573 3,963 4,750 5,806 14,383 16,483 19,269 20,450 19,898 22,611
Total Liabilities		 1,928 2,511 2,599 3,341 4,168 7,094 8,911 11,090 13,536 15,734 17,627
Total Current Liabilities		 252 245 311 372 530 901 1,012 1,155 1,488 1,334 1,303
Short-Term Debt		 14 24 22 45 35 195 190 158 548 232 270
Accounts Payable		 104 66 115 131 223 207 288 339 231 354 271
Accrued Expenses		 49 59 97 99 148 326 364 406 499 544 519
Current Deferred Revenue		 74 79 51 55 86 117 120 192 137 137 172
Other Current Liabilities		 12 16 26 42 21 28 18 28 38 26 25
Other Current Nonoperating Liabilities		 - - - - 16 29 32 32 35 41 47
Total Noncurrent Liabilities		 1,675 2,266 2,288 2,969 3,638 6,192 7,899 9,934 12,048 14,399 16,324
Long-Term Debt		 197 244 247 247 239 231 602 898 932 864 712
Capital Lease Obligations		 15 151 5.81 9.99 13 13 11 17 69 66 37
Noncurrent Deferred Revenue		 559 583 522 544 652 691 762 912 1,067 1,209 1,350
Noncurrent Deferred & Payable Income Tax Liabilities		 190 415 83 94 66 82 102 133 123 138 163
Other Noncurrent Operating Liabilities		 714 872 1,430 2,074 2,668 5,176 6,422 7,974 9,857 12,123 14,061
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 147 138 124 126 307 560 595 610 676 624 709
Total Equity & Noncontrolling Interests		 660 924 1,241 1,283 1,331 6,729 6,978 7,569 6,238 3,540 4,275
Total Preferred & Common Equity		 554 673 882 949 965 6,078 6,255 6,708 5,230 2,554 3,132
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 554 673 882 949 965 6,078 6,255 6,708 5,230 2,554 3,132
Common Stock		 642 668 683 722 766 6,108 6,330 6,470 6,609 6,747 6,899
Retained Earnings		 -87 4.44 203 229 251 77 -2.58 171 -1,434 -4,280 -3,830
Accumulated Other Comprehensive Income / (Loss)		 -0.92 0.44 -4.11 -3.12 -53 -107 -73 67 55 87 63
Noncontrolling Interest		 105 251 359 334 367 651 723 861 1,008 986 1,142

Quarterly Balance Sheets for Sunrun

This table presents Sunrun's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 18,568 19,728 20,491 20,027 20,834 21,443 22,104 20,378 21,230 22,225 22,765
Total Current Assets		 1,880 2,084 2,083 1,929 1,671 1,676 1,602 1,667 1,786 2,070 1,966
Cash & Equivalents		 672 629 669 644 487 708 534 605 618 709 680
Restricted Cash		 284 215 252 308 296 335 477 374 394 446 410
Accounts Receivable		 219 219 215 189 170 180 183 172 187 248 233
Inventories, net		 589 888 792 662 412 353 342 414 491 570 490
Prepaid Expenses		 116 135 155 126 306 101 67 102 96 97 154
Plant, Property, & Equipment, net		 10,574 11,369 11,937 12,529 13,580 13,857 14,428 15,498 16,063 16,600 17,026
Total Noncurrent Assets		 6,114 6,275 6,471 5,570 5,584 5,911 6,074 3,213 3,381 3,555 3,773
Other Noncurrent Operating Assets		 1,825 1,989 2,186 2,447 2,462 2,788 2,952 3,213 3,381 3,555 3,773
Total Liabilities & Shareholders' Equity		 18,568 19,728 20,491 20,027 20,834 21,443 22,104 20,378 21,230 22,225 22,765
Total Liabilities		 10,515 11,561 12,296 12,953 14,076 14,395 15,070 16,280 16,784 17,581 17,809
Total Current Liabilities		 1,083 1,150 1,422 1,423 1,274 1,008 1,092 1,262 1,269 1,421 1,359
Short-Term Debt		 186 194 471 541 269 251 236 250 279 312 291
Accounts Payable		 275 346 329 296 287 217 244 269 280 337 343
Accrued Expenses		 401 381 388 381 538 349 410 537 491 539 483
Current Deferred Revenue		 154 168 170 137 129 128 129 142 153 164 169
Other Current Liabilities		 28 29 33 35 17 28 28 26 25 25 24
Other Current Nonoperating Liabilities		 38 31 32 33 34 35 44 38 41 44 48
Total Noncurrent Liabilities		 9,432 10,411 10,874 11,529 12,802 13,387 13,978 15,018 15,515 16,160 16,450
Long-Term Debt		 898 946 946 912 1,050 1,043 996 831 809 792 626
Capital Lease Obligations		 17 22 47 56 74 80 75 58 51 44 31
Noncurrent Deferred Revenue		 861 938 980 1,026 1,109 1,141 1,172 1,238 1,281 1,322 1,370
Noncurrent Deferred & Payable Income Tax Liabilities		 123 63 91 137 122 112 115 98 71 124 199
Other Noncurrent Operating Liabilities		 7,534 8,442 8,810 9,398 10,447 11,011 11,621 12,793 13,304 13,878 14,224
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 609 605 610 683 657 636 634 658 716 730 730
Total Equity & Noncontrolling Interests		 7,444 7,563 7,586 6,391 6,102 6,413 6,401 3,440 3,731 3,915 4,226
Total Preferred & Common Equity		 6,619 6,468 6,597 5,611 5,180 5,366 5,278 2,615 2,927 2,984 3,341
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 6,619 6,468 6,597 5,611 5,180 5,366 5,278 2,615 2,927 2,984 3,341
Common Stock		 6,432 6,506 6,547 6,575 6,614 6,654 6,707 6,784 6,824 6,867 6,939
Retained Earnings		 108 -70 -14 -1,084 -1,522 -1,382 -1,466 -4,230 -3,950 -3,933 -3,662
Accumulated Other Comprehensive Income / (Loss)		 78 32 65 119 88 95 37 61 53 50 64
Noncontrolling Interest		 825 1,095 988 780 921 1,047 1,123 824 804 931 886

Annual Metrics And Ratios for Sunrun

This table displays calculated financial ratios and metrics derived from Sunrun's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 53.41% 182.45% -38.10% 42.71% 12.97% 7.41% 74.58% 44.19% -2.65% -9.83% 45.11%
EBITDA Growth		 -73.70% 38.00% 41.43% 167.96% -202.48% -465.62% -19.39% 119.38% -3,151.59% -92.79% 118.75%
EBIT Growth		 -62.88% 13.46% 4.30% 34.92% -88.92% -103.08% -40.85% 37.61% -408.68% -73.00% 94.92%
NOPAT Growth		 -65.29% 12.37% 5.70% 32.71% -77.01% -115.59% -43.23% 0.60% -198.80% -86.75% 96.59%
Net Income Growth		 -58.05% -28.90% 10.36% 9.54% -50.29% -60.34% -56.40% 13.35% -215.76% -62.34% 76.83%
EPS Growth		 69.13% 175.00% 61.11% -80.17% -8.70% -690.48% 68.55% 305.13% -1,026.25% -72.87% 113.35%
Operating Cash Flow Growth		 -1,227.78% -90.13% 51.98% 35.01% -227.38% -55.50% -157.00% -3.87% 3.31% 6.65% 44.99%
Free Cash Flow Firm Growth		 5.99% -11.95% 54.90% 63.58% -240.41% -1,693.02% 83.18% -26.98% 54.42% 189.33% -195.46%
Invested Capital Growth		 79.51% 54.14% 10.60% 0.69% 12.24% 346.48% 7.21% 10.25% -9.85% -41.15% 8.89%
Revenue Q/Q Growth		 0.00% 98.72% -41.31% 13.07% 0.45% 0.00% 7.68% 8.10% -3.93% 0.09% 27.64%
EBITDA Q/Q Growth		 0.00% 32.53% -30.72% -67.32% -625.01% -315.19% 19.18% 136.54% -10.13% -2,310.13% 119.75%
EBIT Q/Q Growth		 0.00% 17.34% -13.98% -236.80% -20.88% -78.25% 6.56% 2.78% -8.66% -389.15% 94.82%
NOPAT Q/Q Growth		 0.00% 17.01% -12.96% -206.42% 27.12% -80.90% 6.78% 2.76% -0.42% -480.57% 96.38%
Net Income Q/Q Growth		 0.00% -9.95% 14.12% 2.44% -10.60% -50.53% -2.51% -0.76% -8.38% -192.16% 76.17%
EPS Q/Q Growth		 0.00% 0.00% 81.25% -75.27% 425.00% -2,580.00% 71.94% 166.67% -35.47% -596.20% 115.19%
Operating Cash Flow Q/Q Growth		 -25.58% -24.65% 29.82% 14.21% -59.96% -19.93% -18.94% -2.82% 18.69% -22.82% 45.74%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 34.26% 76.66% -1,450.97% -881.55% 83.75% 5.50% 30.10% 422.82% -286.88%
Invested Capital Q/Q Growth		 0.00% 19.14% 3.90% -18.38% 5.80% 270.46% 2.08% 1.16% -2.00% -40.07% 2.80%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 44.60% 54.25% 17.27% 29.61% 24.78% 100.00% 15.19% 12.87% 7.22% 16.12% 30.34%
EBITDA Margin		 -49.11% -10.78% -10.20% 4.86% -4.41% -23.20% -15.87% 2.13% -66.86% -142.94% 18.47%
Operating Margin		 -71.96% -22.33% -34.01% -16.04% -25.13% -50.44% -41.38% -28.53% -87.56% -181.34% -4.27%
EBIT Margin		 -72.54% -22.23% -34.36% -15.67% -26.21% -49.55% -39.97% -17.30% -90.39% -173.41% -6.07%
Profit (Net Income) Margin		 -81.71% -37.29% -54.01% -34.24% -45.54% -67.98% -60.90% -36.60% -118.72% -213.73% -34.13%
Tax Burden Percent		 97.92% 121.27% 104.49% 103.72% 97.94% 91.19% 100.95% 100.27% 99.53% 99.39% 85.78%
Interest Burden Percent		 115.04% 138.35% 150.41% 210.65% 177.44% 150.47% 150.92% 211.03% 131.97% 124.01% 655.18%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -24.05% -12.91% -9.53% -6.09% -10.12% -7.55% -6.39% -5.83% -17.49% -43.36% -1.91%
ROIC Less NNEP Spread (ROIC-NNEP)		 204.64% -187.52% -147.34% -1,173.13% 765.68% 193.30% 394.82% -570.28% -364.11% -458.46% -2,184.77%
Return on Net Nonoperating Assets (RNNOA)		 -12.57% -21.42% -14.17% -12.68% -15.55% -6.50% -6.81% -4.95% -18.06% -35.26% -20.15%
Return on Equity (ROE)		 -36.62% -34.34% -23.71% -18.76% -25.67% -14.05% -13.20% -10.79% -35.55% -78.63% -22.06%
Cash Return on Invested Capital (CROIC)		 -80.95% -55.52% -19.60% -6.77% -21.65% -134.35% -13.35% -15.58% -7.12% 8.45% -10.42%
Operating Return on Assets (OROA)		 -9.47% -6.06% -4.86% -2.73% -4.26% -4.53% -4.17% -2.25% -10.29% -17.52% -0.84%
Return on Assets (ROA)		 -10.67% -10.17% -7.63% -5.97% -7.41% -6.21% -6.35% -4.75% -13.51% -21.59% -4.75%
Return on Common Equity (ROCE)		 -23.68% -22.55% -15.19% -12.38% -16.12% -11.08% -10.95% -8.88% -28.12% -55.25% -13.71%
Return on Equity Simple (ROE_SIMPLE)		 -44.92% -47.68% -32.62% -27.43% -40.53% -10.32% -15.68% -12.67% -51.29% -170.51% 0.00%
Net Operating Profit after Tax (NOPAT)		 -153 -134 -127 -85 -151 -326 -466 -464 -1,385 -2,587 -88
NOPAT Margin		 -50.37% -15.63% -23.81% -11.23% -17.59% -35.30% -28.97% -19.97% -61.29% -126.94% -2.99%
Net Nonoperating Expense Percent (NNEP)		 -228.70% 174.61% 137.81% 1,167.04% -775.80% -200.85% -401.21% 564.45% 346.63% 415.10% 2,182.86%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -5.36% -17.79% -55.02% -1.67%
Cost of Revenue to Revenue		 55.40% 45.75% 82.73% 70.39% 75.22% 0.00% 84.81% 87.13% 92.78% 83.88% 69.66%
SG&A Expenses to Revenue		 27.72% 10.74% 20.17% 15.35% 14.56% 109.55% 16.43% 8.38% 9.78% 12.03% 9.40%
R&D to Revenue		 3.17% 1.19% 2.83% 2.48% 2.74% 2.12% 1.44% 0.90% 0.97% 1.93% 1.22%
Operating Expenses to Revenue		 116.56% 32.03% 51.28% 45.65% 49.91% 150.44% 56.56% 41.39% 94.77% 197.46% 34.61%
Earnings before Interest and Taxes (EBIT)		 -221 -191 -183 -119 -225 -457 -644 -402 -2,043 -3,534 -180
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -150 -93 -54 37 -38 -214 -255 50 -1,511 -2,913 546
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.15 0.82 0.71 1.28 1.69 2.25 1.14 0.76 0.82 0.81 1.36
Price to Tangible Book Value (P/TBV)		 2.68 0.97 0.81 1.43 1.92 7.70 3.62 2.11 2.03 0.81 1.36
Price to Revenue (P/Rev)		 3.91 0.64 1.18 1.60 1.90 14.86 4.41 2.21 1.89 1.02 1.44
Price to Earnings (P/E)		 0.00 7.34 5.02 45.69 61.91 0.00 0.00 29.52 0.00 0.00 9.49
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 13.63% 19.92% 2.19% 1.62% 0.00% 0.00% 3.39% 0.00% 0.00% 10.54%
Enterprise Value to Invested Capital (EV/IC)		 1.78 0.90 0.82 1.19 1.41 2.08 1.11 0.81 0.87 0.88 1.23
Enterprise Value to Revenue (EV/Rev)		 4.78 1.33 2.15 2.21 2.60 15.88 5.20 2.89 2.89 1.91 2.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 45.40 0.00 0.00 0.00 135.52 0.00 0.00 10.81
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.74 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.28 0.39 0.20 0.21 0.18 0.06 0.11 0.13 0.22 0.28 0.20
Long-Term Debt to Equity		 0.26 0.37 0.19 0.18 0.15 0.03 0.08 0.11 0.14 0.22 0.15
Financial Leverage		 -0.06 0.11 0.10 0.01 -0.02 -0.03 -0.02 0.01 0.05 0.08 0.01
Leverage Ratio		 3.43 3.38 3.11 3.14 3.46 2.26 2.08 2.27 2.63 3.64 4.65
Compound Leverage Factor		 3.95 4.67 4.67 6.62 6.15 3.40 3.13 4.79 3.47 4.52 30.44
Debt to Total Capital		 21.86% 28.29% 16.74% 17.63% 14.94% 5.68% 9.59% 11.60% 18.30% 21.81% 16.97%
Short-Term Debt to Total Capital		 1.32% 1.63% 1.31% 2.61% 1.84% 2.52% 2.27% 1.71% 6.47% 4.35% 4.49%
Long-Term Debt to Total Capital		 20.54% 26.66% 15.43% 15.02% 13.11% 3.15% 7.32% 9.89% 11.83% 17.46% 12.48%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 24.47% 26.27% 29.46% 26.91% 34.96% 15.68% 15.73% 15.90% 19.90% 30.23% 30.85%
Common Equity to Total Capital		 53.67% 45.43% 53.80% 55.46% 50.10% 78.65% 74.68% 72.50% 61.80% 47.96% 52.19%
Debt to EBITDA		 -1.51 -4.52 -5.05 8.17 -7.61 -2.05 -3.14 21.68 -1.03 -0.40 1.87
Net Debt to EBITDA		 -0.08 -2.17 -0.60 -0.07 1.99 1.26 0.18 2.43 -0.37 -0.07 -0.40
Long-Term Debt to EBITDA		 -1.42 -4.26 -4.65 6.96 -6.67 -1.14 -2.40 18.49 -0.66 -0.32 1.37
Debt to NOPAT		 -1.47 -3.12 -2.16 -3.54 -1.91 -1.35 -1.72 -2.32 -1.12 -0.45 -11.54
Net Debt to NOPAT		 -0.08 -1.49 -0.26 0.03 0.50 0.83 0.10 -0.26 -0.41 -0.08 2.47
Long-Term Debt to NOPAT		 -1.38 -2.94 -1.99 -3.01 -1.67 -0.75 -1.31 -1.97 -0.72 -0.36 -8.48
Altman Z-Score		 0.22 0.24 0.23 0.39 0.36 1.15 0.49 0.40 -0.10 -0.68 0.06
Noncontrolling Interest Sharing Ratio		 35.34% 34.34% 35.93% 34.01% 37.20% 21.11% 17.02% 17.70% 20.90% 29.73% 37.84%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.42 1.51 1.34 1.24 1.38 1.26 1.53 1.82 1.26 1.29 1.66
Quick Ratio		 1.05 1.09 0.84 0.79 0.66 0.68 0.75 0.83 0.57 0.56 0.83
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -516 -578 -261 -95 -323 -5,795 -975 -1,238 -564 504 -481
Operating Cash Flow to CapEx		 -808.06% -1,595.51% -1,207.93% -1,261.58% -806.81% -10,273.73% -9,528.75% -4,662.93% -3,915.74% -48,737.47% -23,716.38%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.13 0.27 0.14 0.17 0.16 0.09 0.10 0.13 0.11 0.10 0.14
Accounts Receivable Turnover		 5.89 14.28 8.83 11.99 11.91 10.67 13.35 12.89 11.70 11.89 13.65
Inventory Turnover		 3.55 5.68 5.45 6.15 3.80 0.00 3.46 3.13 3.37 3.97 4.56
Fixed Asset Turnover		 0.17 0.37 0.18 0.22 0.00 0.00 0.18 0.23 0.19 0.15 0.19
Accounts Payable Turnover		 2.17 4.63 4.86 4.34 3.64 0.00 5.51 6.45 7.36 5.84 6.59
Days Sales Outstanding (DSO)		 61.99 25.57 41.34 30.45 30.64 34.21 27.34 28.32 31.19 30.69 26.74
Days Inventory Outstanding (DIO)		 102.93 64.25 67.00 59.33 96.09 0.00 105.57 116.46 108.25 92.02 80.04
Days Payable Outstanding (DPO)		 167.95 78.89 75.06 84.09 100.21 0.00 66.23 56.60 49.60 62.46 55.40
Cash Conversion Cycle (CCC)		 -3.04 10.93 33.27 5.69 26.52 34.21 66.68 88.18 89.84 60.26 51.39
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 819 1,263 1,397 1,407 1,579 7,049 7,557 8,331 7,510 4,420 4,813
Invested Capital Turnover		 0.48 0.83 0.40 0.54 0.58 0.21 0.22 0.29 0.29 0.34 0.64
Increase / (Decrease) in Invested Capital		 363 444 134 9.64 172 5,470 509 774 -821 -3,091 393
Enterprise Value (EV)		 1,455 1,141 1,145 1,676 2,228 14,647 8,371 6,710 6,522 3,899 5,903
Market Capitalization		 1,190 551 630 1,218 1,630 13,705 7,100 5,119 4,277 2,075 4,270
Book Value per Share		 $5.48 $6.48 $8.26 $8.48 $8.17 $30.77 $30.22 $31.48 $24.01 $11.39 $13.50
Tangible Book Value per Share		 $4.39 $5.46 $7.30 $7.61 $7.20 $9.01 $9.48 $11.39 $9.68 $11.39 $13.50
Total Capital		 1,032 1,481 1,639 1,711 1,926 7,728 8,376 9,252 8,463 5,326 6,002
Total Debt		 226 419 274 302 288 439 803 1,073 1,549 1,161 1,018
Total Long-Term Debt		 212 395 253 257 252 244 613 915 1,001 930 749
Net Debt		 13 201 33 -2.58 -75 -269 -47 120 561 214 -218
Capital Expenditures (CapEx)		 13 13 7.96 4.95 25 3.10 8.58 18 21 1.57 1.78
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -92 -70 -115 -170 -124 -277 -124 147 -46 -327 -114
Debt-free Net Working Capital (DFNWC)		 121 149 127 134 239 431 726 1,100 942 620 1,123
Net Working Capital (NWC)		 107 125 106 89 204 236 536 942 394 388 853
Net Nonoperating Expense (NNE)		 95 186 161 175 240 301 514 386 1,298 1,769 921
Net Nonoperating Obligations (NNO)		 13 201 33 -2.58 -59 -241 -16 152 596 256 -171
Total Depreciation and Amortization (D&A)		 71 98 129 156 187 243 388 451 532 621 726
Debt-free, Cash-free Net Working Capital to Revenue		 -30.26% -8.08% -21.51% -22.42% -14.44% -30.00% -7.73% 6.34% -2.02% -16.07% -3.85%
Debt-free Net Working Capital to Revenue		 39.69% 17.29% 23.89% 17.62% 27.85% 46.78% 45.08% 47.38% 41.68% 30.42% 37.98%
Net Working Capital to Revenue		 35.20% 14.48% 19.85% 11.74% 23.73% 25.63% 33.27% 40.59% 17.44% 19.05% 28.86%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.96) $0.90 $1.18 $0.24 $0.23 ($1.24) ($0.39) $0.82 ($7.41) ($12.81) $1.96
Adjusted Weighted Average Basic Shares Outstanding		 101.50M 102.37M 105.43M 110.09M 116.40M 139.61M 205.13M 211.35M 216.64M 222.22M 229.81M
Adjusted Diluted Earnings per Share		 ($0.96) $0.87 $1.15 $0.23 $0.21 ($1.24) ($0.39) $0.80 ($7.41) ($12.81) $1.71
Adjusted Weighted Average Diluted Shares Outstanding		 101.50M 104.96M 108.21M 117.11M 123.88M 139.61M 205.13M 219.16M 216.64M 222.22M 264.47M
Adjusted Basic & Diluted Earnings per Share		 ($0.96) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 55.09M 104.64M 107.73M 113.90M 119.39M 202.58M 208.42M 214.42M 219.59M 226.21M 234.49M
Normalized Net Operating Profit after Tax (NOPAT)		 -153 -134 -127 -85 -151 -326 -466 -464 -574 -401 -88
Normalized NOPAT Margin		 -50.37% -15.63% -23.81% -11.23% -17.59% -35.30% -28.97% -19.97% -25.42% -19.69% -2.99%
Pre Tax Income Margin		 -83.45% -30.75% -51.69% -33.01% -46.50% -74.55% -60.33% -36.50% -119.28% -215.05% -39.78%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 11.55% -12.32% -18.96% -30.13% -19.60% -17.74% -20.04% -25.61% -8.39% -7.09% -24.45%
Augmented Payout Ratio		 11.55% -12.32% -18.96% -30.13% -20.88% -17.74% -20.04% -25.61% -8.39% -7.09% -24.45%

Quarterly Metrics And Ratios for Sunrun

This table displays calculated financial ratios and metrics derived from Sunrun's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 234,492,403.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 234,492,403.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.71
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -10.88% -15.20% -22.32% -11.24% -4.62% 0.37% 10.06% 8.68% 34.88% 123.50% 43.22%
EBITDA Growth		 -1,508.04% -190.11% 144.24% 333.20% 95.15% -1,316.01% -83.25% -29.14% 405.06% 110.19% 1,599.80%
EBIT Growth		 -3,216.11% -84.68% 63.12% 61.38% 83.43% -791.51% -72.00% -99.12% 93.24% 103.85% 83.58%
NOPAT Growth		 -889.01% -4.41% 19.58% 37.82% 90.52% -1,548.48% 37.26% 12.34% 102.86% 102.99% 62.13%
Net Income Growth		 -845.90% -63.28% 15.67% 23.71% 71.98% -535.02% 2.11% -7.33% 32.59% 94.85% -7.27%
EPS Growth		 -612.50% -606.25% 64.29% 120.00% 92.48% -677.16% 150.00% 94.55% 116.22% 103.02% 210.00%
Operating Cash Flow Growth		 29.62% 61.92% 67.43% -3.15% -146.93% -122.71% 27.18% -40.33% 22.18% 137.52% 110.19%
Free Cash Flow Firm Growth		 60.03% 175.28% 231.58% 261.51% 153.88% 18.85% 206.64% 115.52% 1,248.12% -140.02% -119.78%
Invested Capital Growth		 -6.95% -9.85% -13.09% -15.43% -3.78% -41.15% -41.97% -37.79% -36.52% 8.89% 13.22%
Revenue Q/Q Growth		 -4.58% -8.27% -11.31% 14.33% 2.54% -3.48% -2.74% 12.90% 27.26% 59.94% -37.68%
EBITDA Q/Q Growth		 -2,869.72% 81.24% 127.02% 54.92% -161.76% -5,377.11% 100.32% 555.38% 165.85% 82.99% -46.69%
EBIT Q/Q Growth		 -670.19% 72.03% 73.76% 31.68% -230.42% -1,405.13% 94.94% 20.91% 88.78% 955.65% -121.62%
NOPAT Q/Q Growth		 -554.30% 85.34% 7.29% 30.08% 0.21% -2,448.37% 96.47% 2.30% 103.25% 2,566.58% -144.69%
Net Income Q/Q Growth		 -331.71% 63.60% 47.11% 8.20% -58.58% -724.85% 91.85% -0.65% 0.41% 36.98% -69.80%
EPS Q/Q Growth		 -2,068.00% 67.07% 75.31% 237.50% -167.27% -3,302.70% 101.59% 435.00% -94.39% 533.33% 63.16%
Operating Cash Flow Q/Q Growth		 68.72% -83.44% -23.35% -45.74% 25.12% -65.45% 59.67% -180.85% 58.48% 179.78% -89.04%
Free Cash Flow Firm Q/Q Growth		 52.57% 283.91% 44.58% 28.07% -84.18% 305.69% 273.02% -9.99% -1.03% -112.04% -84.32%
Invested Capital Q/Q Growth		 -12.60% -2.00% -1.44% 0.18% -0.56% -40.07% -2.81% 7.40% 1.47% 2.80% 1.06%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 8.02% 6.58% 7.09% 18.15% 19.26% 18.80% 19.60% 21.04% 33.57% 37.57% 30.43%
EBITDA Margin		 -200.83% -41.07% 12.51% 16.95% -10.21% -579.39% 1.90% 11.05% 23.09% 26.42% 22.60%
Operating Margin		 -239.26% -38.24% -39.97% -24.44% -23.79% -628.02% -22.78% -19.72% 0.50% 8.40% -6.02%
EBIT Margin		 -225.47% -68.75% -20.34% -12.15% -39.16% -610.70% -31.79% -22.27% -1.96% 10.51% -3.64%
Profit (Net Income) Margin		 -261.18% -103.64% -61.80% -49.62% -76.73% -655.74% -54.96% -49.00% -38.35% -15.11% -41.17%
Tax Burden Percent		 102.07% 99.70% 99.23% 95.96% 96.76% 100.00% 71.49% 74.61% 99.22% 130.02% 102.43%
Interest Burden Percent		 113.49% 151.19% 306.20% 425.44% 202.49% 107.37% 241.89% 294.94% 1,967.93% -110.61% 1,102.67%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -49.56% -7.64% -7.48% -4.36% -4.51% -150.17% -5.68% -4.89% 0.14% 3.77% -2.92%
ROIC Less NNEP Spread (ROIC-NNEP)		 -186.15% -113.71% -38.67% -40.52% -73.91% -413.18% -52.41% -79.83% -148.57% -572.89% -509.23%
Return on Net Nonoperating Assets (RNNOA)		 -9.51% -5.64% -2.57% -2.50% -4.87% -31.78% -4.07% -3.71% -4.80% -5.28% -5.93%
Return on Equity (ROE)		 -59.06% -13.28% -10.05% -6.86% -9.38% -181.96% -9.75% -8.60% -4.66% -1.52% -8.85%
Cash Return on Invested Capital (CROIC)		 -10.15% -7.12% -3.00% 0.67% -2.08% 8.45% 9.71% 4.57% 4.27% -10.42% -13.24%
Operating Return on Assets (OROA)		 -27.48% -7.82% -2.13% -1.20% -3.78% -61.68% -3.21% -2.22% -0.21% 1.46% -0.54%
Return on Assets (ROA)		 -31.84% -11.79% -6.48% -4.88% -7.42% -66.23% -5.56% -4.89% -4.01% -2.10% -6.06%
Return on Common Equity (ROCE)		 -47.75% -10.50% -7.85% -5.39% -7.24% -127.86% -7.00% -6.20% -3.30% -0.94% -5.82%
Return on Equity Simple (ROE_SIMPLE)		 -44.12% 0.00% -50.77% -47.51% -28.24% 0.00% -166.29% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -943 -138 -128 -90 -89 -2,279 -80 -79 2.56 68 -30
NOPAT Margin		 -167.48% -26.77% -27.98% -17.11% -16.65% -439.62% -15.95% -13.80% 0.35% 5.88% -4.22%
Net Nonoperating Expense Percent (NNEP)		 136.59% 106.07% 31.19% 36.16% 69.41% 263.01% 46.73% 74.95% 148.71% 576.65% 506.31%
Return On Investment Capital (ROIC_SIMPLE)		 - -1.78% - - - -48.48% -1.76% -1.61% 0.05% 1.29% -0.59%
Cost of Revenue to Revenue		 91.98% 93.42% 92.91% 81.85% 80.74% 81.20% 80.40% 78.96% 66.43% 62.43% 69.57%
SG&A Expenses to Revenue		 9.46% 11.06% 11.19% 11.69% 11.28% 13.90% 11.45% 12.57% 9.05% 7.18% 10.33%
R&D to Revenue		 0.89% 1.48% 2.64% 1.96% 1.52% 1.70% 1.98% 1.42% 1.28% 0.76% 1.40%
Operating Expenses to Revenue		 247.28% 44.82% 47.06% 42.59% 43.05% 646.83% 42.38% 40.76% 33.07% 29.17% 36.46%
Earnings before Interest and Taxes (EBIT)		 -1,270 -355 -93 -64 -210 -3,166 -160 -127 -14 122 -26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1,131 -212 57 89 -55 -3,004 9.60 63 167 306 163
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.49 0.82 0.55 0.49 0.76 0.81 0.51 0.64 1.34 1.36 0.95
Price to Tangible Book Value (P/TBV)		 1.10 2.03 1.40 1.17 1.87 0.81 0.51 0.64 1.34 1.36 0.95
Price to Revenue (P/Rev)		 1.16 1.89 1.35 1.28 1.98 1.02 0.64 0.88 1.72 1.44 1.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9.49 5.60
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10.54% 17.85%
Enterprise Value to Invested Capital (EV/IC)		 0.62 0.87 0.68 0.63 0.83 0.88 0.69 0.76 1.21 1.23 0.96
Enterprise Value to Revenue (EV/Rev)		 2.02 2.89 2.38 2.25 2.99 1.91 1.42 1.65 2.44 2.00 1.47
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10.81 6.65
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 85.78 0.00 7.74 5.23 12.80 21.92 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.21 0.22 0.21 0.20 0.19 0.28 0.28 0.26 0.25 0.20 0.19
Long-Term Debt to Equity		 0.14 0.14 0.17 0.16 0.15 0.22 0.22 0.19 0.18 0.15 0.13
Financial Leverage		 0.05 0.05 0.07 0.06 0.07 0.08 0.08 0.05 0.03 0.01 0.01
Leverage Ratio		 2.55 2.63 2.72 2.75 2.99 3.64 3.80 3.71 3.80 4.65 4.77
Compound Leverage Factor		 2.90 3.98 8.32 11.70 6.05 3.91 9.18 10.95 74.70 -5.14 52.54
Debt to Total Capital		 17.58% 18.30% 17.09% 16.32% 15.67% 21.81% 21.75% 20.39% 19.82% 16.97% 16.06%
Short-Term Debt to Total Capital		 6.30% 6.47% 3.30% 2.98% 2.83% 4.35% 4.78% 4.99% 5.38% 4.49% 4.93%
Long-Term Debt to Total Capital		 11.28% 11.83% 13.78% 13.34% 12.84% 17.46% 16.97% 15.40% 14.44% 12.48% 11.13%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 17.05% 19.90% 19.36% 19.98% 21.06% 30.23% 28.30% 27.21% 28.67% 30.85% 27.36%
Common Equity to Total Capital		 65.37% 61.80% 63.55% 63.70% 63.28% 47.96% 49.94% 52.41% 51.51% 52.19% 56.58%
Debt to EBITDA		 -1.10 -1.03 -1.05 -1.15 -10.81 -0.40 -0.38 -0.38 -0.42 1.87 1.36
Net Debt to EBITDA		 -0.41 -0.37 -0.46 -0.28 -2.45 -0.07 -0.05 -0.04 0.00 -0.40 -0.20
Long-Term Debt to EBITDA		 -0.71 -0.66 -0.85 -0.94 -8.86 -0.32 -0.30 -0.29 -0.30 1.37 0.94
Debt to NOPAT		 -1.09 -1.12 -1.03 -1.06 -2.93 -0.45 -0.45 -0.45 -0.47 -11.54 -24.75
Net Debt to NOPAT		 -0.40 -0.41 -0.45 -0.26 -0.67 -0.08 -0.06 -0.05 0.00 2.47 3.67
Long-Term Debt to NOPAT		 -0.70 -0.72 -0.83 -0.86 -2.40 -0.36 -0.35 -0.34 -0.34 -8.48 -17.15
Altman Z-Score		 -0.01 0.17 0.13 0.14 0.16 -0.62 -0.14 -0.08 0.03 0.10 0.05
Noncontrolling Interest Sharing Ratio		 19.16% 20.90% 21.96% 21.52% 22.82% 29.73% 28.19% 27.86% 29.26% 37.84% 34.22%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.36 1.26 1.31 1.66 1.47 1.29 1.32 1.41 1.46 1.66 1.45
Quick Ratio		 0.59 0.57 0.52 0.88 0.66 0.56 0.62 0.63 0.67 0.83 0.67
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -371 683 987 1,264 200 811 3,026 2,724 2,696 -325 -598
Operating Cash Flow to CapEx		 -1,355.34% -2,488.35% 0.00% -28,067.97% -77,304.95% -41,205.58% -47,582.65% -34,716.37% -8,161.38% 0.00% 2,597.31%
Free Cash Flow to Firm to Interest Expense		 -2.17 0.00 0.00 6.10 0.93 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 -0.37 0.00 0.00 -1.01 -0.72 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -0.40 0.00 0.00 -1.01 -0.73 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.12 0.11 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.14 0.15
Accounts Receivable Turnover		 11.54 11.70 10.96 10.43 10.96 11.89 12.19 11.62 10.76 13.65 15.69
Inventory Turnover		 4.19 3.37 3.02 3.24 3.53 3.97 4.09 4.05 3.85 4.56 4.77
Fixed Asset Turnover		 0.20 0.19 0.17 0.16 0.15 0.15 0.14 0.14 0.15 0.19 0.20
Accounts Payable Turnover		 9.17 7.36 6.21 6.80 6.55 5.84 6.08 6.89 6.05 6.59 7.05
Days Sales Outstanding (DSO)		 31.63 31.19 33.30 34.99 33.29 30.69 29.93 31.41 33.94 26.74 23.26
Days Inventory Outstanding (DIO)		 87.12 108.25 120.70 112.63 103.49 92.02 89.30 90.12 94.75 80.04 76.56
Days Payable Outstanding (DPO)		 39.80 49.60 58.76 53.65 55.72 62.46 60.06 52.98 60.31 55.40 51.80
Cash Conversion Cycle (CCC)		 78.95 89.84 95.23 93.97 81.07 60.26 59.17 68.55 68.38 51.39 48.02
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 7,664 7,510 7,402 7,416 7,375 4,420 4,296 4,614 4,681 4,813 4,864
Invested Capital Turnover		 0.30 0.29 0.27 0.25 0.27 0.34 0.36 0.35 0.38 0.64 0.69
Increase / (Decrease) in Invested Capital		 -572 -821 -1,115 -1,353 -289 -3,091 -3,107 -2,802 -2,693 393 568
Enterprise Value (EV)		 4,748 6,522 5,059 4,644 6,090 3,899 2,968 3,515 5,643 5,903 4,655
Market Capitalization		 2,728 4,277 2,872 2,629 4,037 2,075 1,326 1,869 3,989 4,270 3,180
Book Value per Share		 $25.84 $24.01 $23.56 $24.21 $23.61 $11.39 $11.56 $12.81 $12.93 $13.50 $14.25
Tangible Book Value per Share		 $11.45 $9.68 $9.36 $10.12 $9.64 $11.39 $11.56 $12.81 $12.93 $13.50 $14.25
Total Capital		 8,583 8,463 8,151 8,423 8,341 5,326 5,237 5,585 5,793 6,002 5,905
Total Debt		 1,509 1,549 1,393 1,375 1,307 1,161 1,139 1,139 1,148 1,018 948
Total Long-Term Debt		 968 1,001 1,124 1,124 1,071 930 889 860 837 749 657
Net Debt		 557 561 610 332 296 214 160 127 -7.30 -218 -141
Capital Expenditures (CapEx)		 4.67 4.66 -3.53 0.74 0.20 0.63 0.22 0.84 1.49 -0.77 0.41
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 94 -46 -117 -123 -263 -327 -323 -216 -194 -114 -191
Debt-free Net Working Capital (DFNWC)		 1,046 942 666 919 747 620 656 796 961 1,123 898
Net Working Capital (NWC)		 505 394 397 668 511 388 405 517 650 853 607
Net Nonoperating Expense (NNE)		 528 397 155 170 323 1,121 197 200 280 243 267
Net Nonoperating Obligations (NNO)		 590 596 644 367 340 256 198 167 37 -171 -93
Total Depreciation and Amortization (D&A)		 139 143 151 152 156 162 170 190 182 184 190
Debt-free, Cash-free Net Working Capital to Revenue		 3.99% -2.02% -5.49% -5.95% -12.93% -16.07% -15.51% -10.16% -8.39% -3.85% -6.01%
Debt-free Net Working Capital to Revenue		 44.46% 41.68% 31.30% 44.59% 36.70% 30.42% 31.46% 37.37% 41.49% 37.98% 28.29%
Net Working Capital to Revenue		 21.48% 17.44% 18.64% 32.42% 25.10% 19.05% 19.45% 24.29% 28.04% 28.86% 19.12%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($4.92) ($1.63) ($0.40) $0.63 ($0.37) ($12.67) $0.22 $1.22 $0.07 $0.45 $0.71
Adjusted Weighted Average Basic Shares Outstanding		 217.34M 216.64M 219.88M 222.47M 223.70M 222.22M 226.41M 229.17M 230.98M 229.81M 234.58M
Adjusted Diluted Earnings per Share		 ($4.92) ($1.62) ($0.40) $0.55 ($0.37) ($12.59) $0.20 $1.07 $0.06 $0.38 $0.62
Adjusted Weighted Average Diluted Shares Outstanding		 217.34M 216.64M 219.88M 255.11M 223.70M 222.22M 257.91M 261.15M 267.47M 264.47M 272.35M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 217.88M 219.59M 221.66M 223.54M 224.34M 226.21M 228.49M 230.73M 232.04M 234.49M 238.55M
Normalized Net Operating Profit after Tax (NOPAT)		 -133 -138 -128 -90 -89 -2,279 -80 -79 2.56 68 -30
Normalized NOPAT Margin		 -23.55% -26.77% -27.98% -17.11% -16.65% -439.62% -15.95% -13.80% 0.35% 5.88% -4.22%
Pre Tax Income Margin		 -255.88% -103.95% -62.28% -51.71% -79.30% -655.71% -76.89% -65.68% -38.65% -11.62% -40.19%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -7.41 0.00 0.00 -0.31 -0.98 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -5.51 0.00 0.00 -0.43 -0.41 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -7.44 0.00 0.00 -0.31 -0.98 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -5.53 0.00 0.00 -0.44 -0.42 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -9.66% -8.39% -8.97% -11.23% -19.45% -7.09% -6.76% -5.61% -5.84% -24.45% -25.47%
Augmented Payout Ratio		 -9.66% -8.39% -8.97% -11.23% -19.45% -7.09% -6.76% -5.61% -5.84% -24.45% -25.47%

Financials Breakdown Chart

Key Financial Trends

Sunrun (RUN) has shown meaningful shifts in revenue, profitability, and cash flow over the last four years. Below are the top trends derived from quarterly statements (2022–2025). The bullet points are ordered with positive items first, then neutral, then negative items.

  • Q4 2025 revenue spike and solid margins: Operating revenue reached about $1.159B in Q4 2025, with total gross profit of $435.372M and an implied gross margin around 38%. This quarter also posted operating income of $97.36M, suggesting stronger profitability at the quarter level.
  • Positive quarterly earnings to common shareholders: In Q4 2025, Net Income / (Loss) Attributable to Common Shareholders was $103.57M, supporting a positive near-term earnings signal despite other dynamics in the period.
  • Solid quarterly cash flow from financing activity: 2025 saw sizable financing activity, with Q3 2025 showing a large debt issuance (~$1.898B) and common equity issuance (~$524.0M), contributing to a strong net cash from financing activities (≈$1.01B). Q4 2025 also reflected meaningful financing cash flow (~$393.1M).
  • Seasonal and execution timing risk in revenue: The Q4 2025 revenue surge may reflect timing, project wins, or one-off deals. This could imply volatility if the drivers behind the spike aren’t sustained.
  • Consolidated vs. parent-only profitability divergence: In Q4 2025, Consolidated Net Income was negative (-$175.1M) even though net income to common shareholders was positive, driven by noncontrolling interests. This can mask the underlying performance when viewed only from the parent line.
  • Operating cash flow remained negative for most of 2025: Net cash from continuing operating activities was negative in Q1 through Q3 2025 (e.g., -$104.2M in Q1, -$292.7M in Q2, -$121.5M in Q3), turning positive only in Q4. This signals ongoing cash burn before financing.
  • Substantial investing outflows persisted in 2025: Net cash from investing activities remained deeply negative across the year (e.g., Q3 2025 around -$743.6M; Q4 2025 around -$408.9M), reflecting sizable capex and asset investments.
  • Rising leverage and sizable liabilities on the balance sheet: The balance sheets show Total Liabilities in the high-teens to low-20s billions range in 2025, indicating a high leverage footprint that requires ongoing capital access to fund operations and growth.
  • GAAP profitability remains challenged in several periods: Several quarters in 2022–2024 and into 2025 show negative Consolidated Net Income, with notable quarterly losses (e.g., Q3 2025 Consolidated Net Income around -$277.8M; Q4 2025 around -$175.1M).
05/11/26 11:33 AM ETAI Generated. May Contain Errors.

Sunrun Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Sunrun's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Sunrun's net income appears to be on an upward trend, with a most recent value of -$1.01 billion in 2025, rising from -$248.91 million in 2015. The previous period was -$4.36 billion in 2024. View Sunrun's forecast to see where analysts expect Sunrun to go next.

Sunrun's total operating income in 2025 was -$126.13 million, based on the following breakdown:
  • Total Gross Profit: $897.30 million
  • Total Operating Expenses: $1.02 billion

Over the last 10 years, Sunrun's total revenue changed from $304.61 million in 2015 to $2.96 billion in 2025, a change of 870.8%.

Sunrun's total liabilities were at $17.63 billion at the end of 2025, a 12.0% increase from 2024, and a 814.3% increase since 2015.

In the past 10 years, Sunrun's cash and equivalents has ranged from $202.53 million in 2017 to $823.38 million in 2025, and is currently $823.38 million as of their latest financial filing in 2025.

Over the last 10 years, Sunrun's book value per share changed from 5.48 in 2015 to 13.50 in 2025, a change of 146.3%.


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Financial statements for NASDAQ:RUN last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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