Sunrun (RUN) Financials

$7.40 +0.36 (+5.04%)

As of 11:48 AM Eastern

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	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-71	-53	75	125	27	26	-173	-79	173	-1,604	-2,846
Consolidated Net Income / (Loss)	-157	-249	-321	-288	-260	-391	-627	-981	-850	-2,683	-4,355
Net Income / (Loss) Continuing Operations	-157	-249	62	-288	-266	-391	-627	-981	-850	-2,683	-4,355
Total Pre-Tax Income	-168	-254	-265	-275	-251	-399	-688	-971	-847	-2,696	-4,382
Total Operating Income	-133	-219	-192	-181	-122	-216	-465	-666	-662	-1,979	-3,695
Total Gross Profit	25	136	467	92	225	213	922	244	299	163	329
Total Revenue	199	305	860	533	760	859	922	1,610	2,321	2,260	2,038
Operating Revenue	199	305	860	533	760	859	922	1,610	2,321	2,260	2,038
Total Cost of Revenue	174	169	394	441	535	646	0.00	1,365	2,023	2,097	1,709
Operating Cost of Revenue	174	169	394	441	535	646	0.00	1,365	2,023	2,097	1,709
Total Operating Expenses	157	355	276	273	347	428	1,387	911	961	2,142	4,024
Selling, General & Admin Expense	68	84	92	107	117	125	1,010	265	195	221	245
Marketing Expense	79	145	169	146	207	275	352	623	745	741	617
Research & Development Expense	8.39	9.66	10	15	19	24	20	23	21	22	39
Impairment Charge	-	-	-	-	-	-	-	0.00	0.00	1,158	3,122
Total Other Income / (Expense), net	-35	-35	-73	-94	-135	-184	-222	-305	-185	-717	-687
Interest & Investment Income	-28	-33	-73	-92	-132	-174	-231	-328	-446	-653	-848
Other Income / (Expense), net	-3.04	-1.77	0.84	-1.87	2.79	-9.25	8.19	23	261	-64	162
Income Tax Expense	-10	-5.30	56	12	9.32	-8.22	-61	9.27	2.29	-13	-27
Net Income / (Loss) Attributable to Noncontrolling Interest	-87	-221	-396	-413	-287	-417	-454	-901	-1,023	-1,078	-1,509
Basic Earnings per Share	($3.11)	($0.96)	$0.73	$1.19	$0.24	$0.23	($1.24)	($0.39)	$0.82	($7.41)	($12.81)
Weighted Average Basic Shares Outstanding	22.80M	55.09M	102.37M	105.43M	110.09M	116.40M	139.61M	205.13M	211.35M	216.64M	222.22M
Diluted Earnings per Share	($3.11)	($0.96)	$0.72	$1.16	$0.23	$0.21	($1.24)	($0.39)	$0.80	($7.41)	($12.81)
Weighted Average Diluted Shares Outstanding	22.80M	55.09M	104.96M	108.21M	117.11M	123.88M	139.61M	205.13M	219.16M	216.64M	222.22M
Weighted Average Basic & Diluted Shares Outstanding	22.80M	55.40M	101.90M	107.73M	111.10M	119.39M	202.58M	208.42M	214.42M	219.59M	226.21M

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 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	211	63	-240	55	-1,069	-350	-88	139	-84	-2,814
Consolidated Net Income / (Loss)	-156	-328	-336	-341	-1,471	-535	-283	-260	-412	-3,400
Net Income / (Loss) Continuing Operations	-156	-328	-336	-341	-1,471	-535	-283	-260	-412	-3,400
Total Pre-Tax Income	-156	-326	-395	-322	-1,441	-537	-285	-271	-426	-3,400
Total Operating Income	-136	-189	-228	-206	-1,347	-198	-183	-128	-128	-3,256
Total Gross Profit	111	-397	33	51	45	34	32	95	103	97
Total Revenue	632	609	590	590	563	517	458	524	537	518
Operating Revenue	632	609	590	590	563	517	458	524	537	518
Total Cost of Revenue	521	1,006	557	539	518	483	426	429	434	421
Operating Cost of Revenue	521	1,006	557	539	518	483	426	429	434	421
Total Operating Expenses	247	-208	261	257	1,393	232	216	223	231	3,354
Selling, General & Admin Expense	47	-397	53	57	53	57	51	61	61	72
Marketing Expense	194	189	203	195	176	167	152	152	162	151
Research & Development Expense	4.40	4.11	4.56	4.56	5.04	7.66	12	10	8.18	8.79
Total Other Income / (Expense), net	-19	-136	-168	-116	-94	-339	-102	-143	-298	-144
Other Income / (Expense), net	98	-3.13	-25	41	78	-158	90	64	-83	90
Income Tax Expense	0.00	2.29	-60	19	30	-1.60	-2.20	-11	-14	0.14
Net Income / (Loss) Attributable to Noncontrolling Interest	-366	-391	-95	-396	-401	-185	-195	-399	-328	-586
Basic Earnings per Share	$0.99	$0.31	($1.12)	$0.26	($4.92)	($1.63)	($0.40)	$0.63	($0.37)	($12.67)
Weighted Average Basic Shares Outstanding	212.70M	211.35M	214.55M	216.02M	217.34M	216.64M	219.88M	222.47M	223.70M	222.22M
Diluted Earnings per Share	$0.96	$0.32	($1.12)	$0.25	($4.92)	($1.62)	($0.40)	$0.55	($0.37)	($12.59)
Weighted Average Diluted Shares Outstanding	220.85M	219.16M	214.55M	221.85M	217.34M	216.64M	219.88M	255.11M	223.70M	222.22M
Weighted Average Basic & Diluted Shares Outstanding	213.10M	214.42M	215.61M	217.18M	217.88M	219.59M	221.66M	223.54M	224.34M	226.21M

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	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	52	52	-12	17	63	59	345	142	103	35	-40
Net Cash From Operating Activities	-7.93	-105	-200	-96	-62	-204	-318	-817	-849	-821	-766
Net Cash From Continuing Operating Activities	-7.93	-105	-200	-96	-62	-204	-318	-817	-849	-821	-766
Net Income / (Loss) Continuing Operations	-157	-249	-321	-288	-260	-391	-627	-981	-850	-2,683	-4,355
Consolidated Net Income / (Loss)	-157	-249	-321	-288	-260	-391	-627	-981	-850	-2,683	-4,355
Depreciation Expense	50	71	98	129	156	187	243	388	451	532	621
Non-Cash Adjustments To Reconcile Net Income	4.34	24	59	53	57	37	206	272	143	1,510	3,434
Changes in Operating Assets and Liabilities, net	96	49	-36	9.63	-15	-38	-140	-497	-593	-180	-465
Net Cash From Investing Activities	-464	-627	-696	-777	-811	-843	-498	-1,686	-2,086	-2,613	-2,701
Net Cash From Continuing Investing Activities	-464	-627	-696	-777	-811	-843	-498	-1,686	-2,086	-2,613	-2,701
Purchase of Property, Plant & Equipment	-15	-13	-13	-7.96	-4.95	-25	-3.10	-8.58	-18	-21	-1.57
Acquisitions	-36	-20	-5.00	0.00	0.00	-2.72	472	0.00	-75	-5.00	0.00
Other Investing Activities, net	-412	-595	-678	-769	-806	-815	-967	-1,678	-1,993	-2,587	-2,699
Net Cash From Financing Activities	524	489	899	891	936	1,107	1,161	2,646	3,037	3,469	3,427
Net Cash From Continuing Financing Activities	524	784	884	890	936	1,107	1,161	2,646	3,037	3,470	3,427
Repayment of Debt	-129	-	-461	-554	-568	-892	-605	-1,668	-2,734	-2,713	-2,398
Repurchase of Preferred Equity	-	-	-	-	-	-	-	-	-	-	-347
Payment of Dividends	-32	29	-40	-55	-78	-77	-111	-196	-218	-225	-309
Issuance of Debt	193	20	794	919	998	1,367	934	3,297	4,594	4,870	4,809
Issuance of Common Equity	172	279	574	595	345	712	893	1,239	1,415	1,572	1,812
Other Financing Activities, net	177	454	32	-15	241	1.47	50	-26	-20	-34	-141
Cash Interest Paid	11	12	26	42	76	99	120	225	300	433	591
Cash Income Taxes Paid	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	93	-3.03	-110	78	31	36	-205	259	-32	-63
Net Cash From Operating Activities	-90	-305	-439	-202	-63	-116	-143	-209	-156	-258
Net Cash From Continuing Operating Activities	-90	-305	-439	-202	-63	-116	-143	-209	-156	-258
Net Income / (Loss) Continuing Operations	-156	-328	-336	-341	-1,471	-535	-283	-260	-412	-3,400
Consolidated Net Income / (Loss)	-156	-328	-336	-341	-1,471	-535	-283	-260	-412	-3,400
Depreciation Expense	119	119	123	127	139	143	151	152	156	162
Non-Cash Adjustments To Reconcile Net Income	36	44	51	74	1,244	142	39	48	91	3,256
Changes in Operating Assets and Liabilities, net	-89	-140	-278	-62	25	135	-49	-149	9.68	-277
Net Cash From Investing Activities	-547	-519	-510	-700	-741	-661	-535	-609	-764	-792
Net Cash From Continuing Investing Activities	-547	-519	-510	-700	-741	-661	-535	-609	-764	-792
Purchase of Property, Plant & Equipment	-6.52	-7.38	-4.00	-7.64	-4.67	-4.66	0.00	-0.74	-0.20	-0.63
Other Investing Activities, net	-541	-511	-506	-693	-737	-651	-539	-605	-764	-792
Net Cash From Financing Activities	730	820	840	980	836	813	474	1,076	889	988
Net Cash From Continuing Financing Activities	730	820	840	980	836	815	474	1,076	889	988
Repayment of Debt	-837	-801	-148	-487	-1,451	-627	-945	-1,068	-455	69
Payment of Dividends	-52	-66	-64	-57	-52	-52	-75	-108	-56	-70
Issuance of Debt	1,234	1,194	658	1,163	2,019	1,029	1,355	1,849	912	694
Issuance of Common Equity	394	489	398	360	355	460	164	632	495	521
Other Financing Activities, net	-9.01	3.65	-4.29	1.57	-35	4.08	-25	-229	-6.22	120
Cash Interest Paid	81	90	94	105	114	120	137	145	142	167

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	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	1,933	2,735	3,573	3,963	4,750	5,806	14,383	16,483	19,269	20,450	19,898
Total Current Assets	237	360	369	417	461	734	1,138	1,548	2,098	1,882	1,723
Cash & Equivalents	152	204	206	203	227	270	520	618	741	679	575
Restricted Cash	2.53	9.20	12	39	78	94	188	233	212	309	372
Accounts Receivable	43	60	60	60	66	78	95	146	214	172	171
Inventories, net	24	71	67	94	79	261	283	507	784	460	402
Prepaid Expenses	9.56	5.92	9.80	9.20	8.56	32	51	45	147	263	203
Plant, Property, & Equipment, net	1,506	2,037	2,678	3,198	3,855	0.00	8,203	9,460	10,988	13,029	15,032
Total Noncurrent Assets	190	338	526	348	433	5,073	5,042	5,476	6,183	5,539	3,143
Goodwill	52	88	88	88	88	95	4,280	4,280	4,280	3,122	0.00
Other Noncurrent Operating Assets	125	228	420	246	336	4,958	744	1,183	1,903	2,417	3,143
Total Liabilities & Shareholders' Equity	1,933	2,735	3,573	3,963	4,750	5,806	14,383	16,483	19,269	20,450	19,898
Total Liabilities	1,380	1,928	2,511	2,599	3,341	4,168	7,094	8,911	11,090	13,536	15,734
Total Current Liabilities	151	252	245	311	372	530	901	1,012	1,155	1,488	1,334
Short-Term Debt	4.20	14	24	22	45	35	195	190	158	548	232
Accounts Payable	51	104	66	115	131	223	207	288	339	231	354
Accrued Expenses	25	49	59	97	99	148	326	364	406	499	544
Current Deferred Revenue	58	74	79	51	55	86	117	120	192	137	137
Other Current Liabilities	12	12	16	26	42	21	28	18	28	38	26
Other Current Nonoperating Liabilities	-	-	-	-	-	16	29	32	32	35	41
Total Noncurrent Liabilities	1,229	1,675	2,266	2,288	2,969	3,638	6,192	7,899	9,934	12,048	14,399
Long-Term Debt	49	197	244	247	247	239	231	602	898	932	864
Capital Lease Obligations	5.76	15	151	5.81	9.99	13	13	11	17	69	66
Noncurrent Deferred Revenue	468	559	583	522	544	652	691	762	912	1,067	1,209
Noncurrent Deferred & Payable Income Tax Liabilities	110	190	415	83	94	66	82	102	133	123	138
Other Noncurrent Operating Liabilities	598	714	872	1,430	2,074	2,668	5,176	6,422	7,974	9,857	12,123
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	136	147	138	124	126	307	560	595	610	676	624
Total Equity & Noncontrolling Interests	417	660	924	1,241	1,283	1,331	6,729	6,978	7,569	6,238	3,540
Total Preferred & Common Equity	325	554	673	882	949	965	6,078	6,255	6,708	5,230	2,554
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	325	554	673	882	949	965	6,078	6,255	6,708	5,230	2,554
Common Stock	384	642	668	683	722	766	6,108	6,330	6,470	6,609	6,747
Retained Earnings	-59	-87	4.44	203	229	251	77	-2.58	171	-1,434	-4,280
Accumulated Other Comprehensive Income / (Loss)	-	-0.92	0.44	-4.11	-3.12	-53	-107	-73	67	55	87
Noncontrolling Interest	92	105	251	359	334	367	651	723	861	1,008	986

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
Total Assets	18,568	19,728	20,491	20,027	20,834	21,443	22,104
Total Current Assets	1,880	2,084	2,083	1,929	1,671	1,676	1,602
Cash & Equivalents	672	629	669	644	487	708	534
Restricted Cash	284	215	252	308	296	335	477
Accounts Receivable	219	219	215	189	170	180	183
Inventories, net	589	888	792	662	412	353	342
Prepaid Expenses	116	135	155	126	306	101	67
Plant, Property, & Equipment, net	10,574	11,369	11,937	12,529	13,580	13,857	14,428
Total Noncurrent Assets	6,114	6,275	6,471	5,570	5,584	5,911	6,074
Goodwill	4,280	4,280	4,280	3,122	3,122	3,122	3,122
Other Noncurrent Operating Assets	1,825	1,989	2,186	2,447	2,462	2,788	2,952
Total Liabilities & Shareholders' Equity	18,568	19,728	20,491	20,027	20,834	21,443	22,104
Total Liabilities	10,515	11,561	12,296	12,953	14,076	14,395	15,070
Total Current Liabilities	1,083	1,150	1,422	1,423	1,274	1,008	1,092
Short-Term Debt	186	194	471	541	269	251	236
Accounts Payable	275	346	329	296	287	217	244
Accrued Expenses	401	381	388	381	538	349	410
Current Deferred Revenue	154	168	170	137	129	128	129
Other Current Liabilities	28	29	33	35	17	28	28
Other Current Nonoperating Liabilities	38	31	32	33	34	35	44
Total Noncurrent Liabilities	9,432	10,411	10,874	11,529	12,802	13,387	13,978
Long-Term Debt	898	946	946	912	1,050	1,043	996
Capital Lease Obligations	17	22	47	56	74	80	75
Noncurrent Deferred Revenue	861	938	980	1,026	1,109	1,141	1,172
Noncurrent Deferred & Payable Income Tax Liabilities	123	63	91	137	122	112	115
Other Noncurrent Operating Liabilities	7,534	8,442	8,810	9,398	10,447	11,011	11,621
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	609	605	610	683	657	636	634
Total Equity & Noncontrolling Interests	7,444	7,563	7,586	6,391	6,102	6,413	6,401
Total Preferred & Common Equity	6,619	6,468	6,597	5,611	5,180	5,366	5,278
Preferred Stock	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
Common Stock	6,432	6,506	6,547	6,575	6,614	6,654	6,707
Retained Earnings	108	-70	-14	-1,084	-1,522	-1,382	-1,466
Accumulated Other Comprehensive Income / (Loss)	78	32	65	119	88	95	37
Noncontrolling Interest	825	1,095	988	780	921	1,047	1,123

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	262.73%	53.41%	182.45%	-38.10%	42.71%	12.97%	7.41%	74.58%	44.19%	-2.65%	-9.83%
EBITDA Growth	-256.73%	-73.70%	38.00%	41.43%	167.96%	-202.48%	-465.62%	-19.39%	119.38%	-3,151.59%	-92.79%
EBIT Growth	-149.68%	-62.88%	13.46%	4.30%	34.92%	-88.92%	-103.08%	-40.85%	37.61%	-408.68%	-73.00%
NOPAT Growth	-145.73%	-65.29%	12.37%	5.70%	32.71%	-77.01%	-115.59%	-43.23%	0.60%	-198.80%	-86.75%
Net Income Growth	-140.46%	-58.05%	-28.90%	10.36%	9.54%	-50.29%	-60.34%	-56.40%	13.35%	-215.76%	-62.34%
EPS Growth	-2,491.67%	69.13%	175.00%	61.11%	-80.17%	-8.70%	-690.48%	68.55%	305.13%	-1,026.25%	-72.87%
Operating Cash Flow Growth	-133.92%	-1,227.78%	-90.13%	51.98%	35.01%	-227.38%	-55.50%	-157.00%	-3.87%	3.31%	6.65%
Free Cash Flow Firm Growth	0.00%	5.99%	-11.95%	54.90%	63.58%	-240.41%	-1,693.02%	83.18%	-26.98%	54.42%	189.33%
Invested Capital Growth	0.00%	79.51%	54.14%	10.60%	0.69%	12.24%	346.48%	7.21%	10.25%	-9.85%	-41.15%
Revenue Q/Q Growth	0.00%	0.00%	98.72%	-41.31%	13.07%	0.45%	0.00%	7.68%	8.10%	-3.93%	0.09%
EBITDA Q/Q Growth	0.00%	0.00%	32.53%	-30.72%	-67.32%	-625.01%	-315.19%	19.18%	136.54%	-10.13%	-2,310.13%
EBIT Q/Q Growth	0.00%	0.00%	17.34%	-13.98%	-236.80%	-20.88%	-78.25%	6.56%	2.78%	-8.66%	-389.15%
NOPAT Q/Q Growth	0.00%	0.00%	17.01%	-12.96%	-206.42%	27.12%	-80.90%	6.78%	2.76%	-0.42%	-480.57%
Net Income Q/Q Growth	0.00%	0.00%	-9.95%	14.12%	2.44%	-10.60%	-50.53%	-2.51%	-0.76%	-8.38%	-192.16%
EPS Q/Q Growth	0.00%	0.00%	0.00%	81.25%	-75.27%	425.00%	-2,580.00%	71.94%	166.67%	-35.47%	-596.20%
Operating Cash Flow Q/Q Growth	0.00%	-25.58%	-24.65%	29.82%	14.21%	-59.96%	-19.93%	-18.94%	-2.82%	18.69%	-22.82%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	34.26%	76.66%	-1,450.97%	-881.55%	83.75%	5.50%	30.10%	422.82%
Invested Capital Q/Q Growth	0.00%	0.00%	19.14%	3.90%	-18.38%	5.80%	270.46%	2.08%	1.16%	-2.00%	-40.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	12.52%	44.60%	54.25%	17.27%	29.61%	24.78%	100.00%	15.19%	12.87%	7.22%	16.12%
EBITDA Margin	-43.37%	-49.11%	-10.78%	-10.20%	4.86%	-4.41%	-23.20%	-15.87%	2.13%	-66.86%	-142.94%
Operating Margin	-66.79%	-71.96%	-22.33%	-34.01%	-16.04%	-25.13%	-50.44%	-41.38%	-28.53%	-87.56%	-181.34%
EBIT Margin	-68.32%	-72.54%	-22.23%	-34.36%	-15.67%	-26.21%	-49.55%	-39.97%	-17.30%	-90.39%	-173.41%
Profit (Net Income) Margin	-79.32%	-81.71%	-37.29%	-54.01%	-34.24%	-45.54%	-67.98%	-60.90%	-36.60%	-118.72%	-213.73%
Tax Burden Percent	94.01%	97.92%	121.27%	104.49%	103.72%	97.94%	91.19%	100.95%	100.27%	99.53%	99.39%
Interest Burden Percent	123.49%	115.04%	138.35%	150.41%	210.65%	177.44%	150.47%	150.92%	211.03%	131.97%	124.01%
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)	-40.68%	-24.05%	-12.91%	-9.53%	-6.09%	-10.12%	-7.55%	-6.39%	-5.83%	-17.49%	-43.36%
ROIC Less NNEP Spread (ROIC-NNEP)	93.83%	204.64%	-187.52%	-147.34%	-1,173.13%	765.68%	193.30%	394.82%	-570.28%	-364.11%	-458.46%
Return on Net Nonoperating Assets (RNNOA)	-16.33%	-12.57%	-21.42%	-14.17%	-12.68%	-15.55%	-6.50%	-6.81%	-4.95%	-18.06%	-35.26%
Return on Equity (ROE)	-57.00%	-36.62%	-34.34%	-23.71%	-18.76%	-25.67%	-14.05%	-13.20%	-10.79%	-35.55%	-78.63%
Cash Return on Invested Capital (CROIC)	-240.68%	-80.95%	-55.52%	-19.60%	-6.77%	-21.65%	-134.35%	-13.35%	-15.58%	-7.12%	8.45%
Operating Return on Assets (OROA)	-7.02%	-9.47%	-6.06%	-4.86%	-2.73%	-4.26%	-4.53%	-4.17%	-2.25%	-10.29%	-17.52%
Return on Assets (ROA)	-8.15%	-10.67%	-10.17%	-7.63%	-5.97%	-7.41%	-6.21%	-6.35%	-4.75%	-13.51%	-21.59%
Return on Common Equity (ROCE)	-33.51%	-23.68%	-22.55%	-15.19%	-12.38%	-16.12%	-11.08%	-10.95%	-8.88%	-28.12%	-55.25%
Return on Equity Simple (ROE_SIMPLE)	-48.48%	-44.92%	-47.68%	-32.62%	-27.43%	-40.53%	-10.32%	-15.68%	-12.67%	-51.29%	-170.51%
Net Operating Profit after Tax (NOPAT)	-93	-153	-134	-127	-85	-151	-326	-466	-464	-1,385	-2,587
NOPAT Margin	-46.75%	-50.37%	-15.63%	-23.81%	-11.23%	-17.59%	-35.30%	-28.97%	-19.97%	-61.29%	-126.94%
Net Nonoperating Expense Percent (NNEP)	-134.51%	-228.70%	174.61%	137.81%	1,167.04%	-775.80%	-200.85%	-401.21%	564.45%	346.63%	415.10%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-5.36%	-17.79%	-55.02%
Cost of Revenue to Revenue	87.48%	55.40%	45.75%	82.73%	70.39%	75.22%	0.00%	84.81%	87.13%	92.78%	83.88%
SG&A Expenses to Revenue	34.30%	27.72%	10.74%	20.17%	15.35%	14.56%	109.55%	16.43%	8.38%	9.78%	12.03%
R&D to Revenue	4.22%	3.17%	1.19%	2.83%	2.48%	2.74%	2.12%	1.44%	0.90%	0.97%	1.93%
Operating Expenses to Revenue	79.31%	116.56%	32.03%	51.28%	45.65%	49.91%	150.44%	56.56%	41.39%	94.77%	197.46%
Earnings before Interest and Taxes (EBIT)	-136	-221	-191	-183	-119	-225	-457	-644	-402	-2,043	-3,534
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-86	-150	-93	-54	37	-38	-214	-255	50	-1,511	-2,913
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.15	0.82	0.71	1.28	1.69	2.25	1.14	0.76	0.82	0.81
Price to Tangible Book Value (P/TBV)	0.00	2.68	0.97	0.81	1.43	1.92	7.70	3.62	2.11	2.03	0.81
Price to Revenue (P/Rev)	0.00	3.91	0.64	1.18	1.60	1.90	14.86	4.41	2.21	1.89	1.02
Price to Earnings (P/E)	0.00	0.00	7.34	5.02	45.69	61.91	0.00	0.00	29.52	0.00	0.00
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%	13.63%	19.92%	2.19%	1.62%	0.00%	0.00%	3.39%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	1.78	0.90	0.82	1.19	1.41	2.08	1.11	0.81	0.87	0.88
Enterprise Value to Revenue (EV/Rev)	0.00	4.78	1.33	2.15	2.21	2.60	15.88	5.20	2.89	2.89	1.91
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	45.40	0.00	0.00	0.00	135.52	0.00	0.00
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	0.00	7.74
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.11	0.28	0.39	0.20	0.21	0.18	0.06	0.11	0.13	0.22	0.28
Long-Term Debt to Equity	0.10	0.26	0.37	0.19	0.18	0.15	0.03	0.08	0.11	0.14	0.22
Financial Leverage	-0.17	-0.06	0.11	0.10	0.01	-0.02	-0.03	-0.02	0.01	0.05	0.08
Leverage Ratio	3.50	3.43	3.38	3.11	3.14	3.46	2.26	2.08	2.27	2.63	3.64
Compound Leverage Factor	4.32	3.95	4.67	4.67	6.62	6.15	3.40	3.13	4.79	3.47	4.52
Debt to Total Capital	9.58%	21.86%	28.29%	16.74%	17.63%	14.94%	5.68%	9.59%	11.60%	18.30%	21.81%
Short-Term Debt to Total Capital	0.69%	1.32%	1.63%	1.31%	2.61%	1.84%	2.52%	2.27%	1.71%	6.47%	4.35%
Long-Term Debt to Total Capital	8.89%	20.54%	26.66%	15.43%	15.02%	13.11%	3.15%	7.32%	9.89%	11.83%	17.46%
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	37.26%	24.47%	26.27%	29.46%	26.91%	34.96%	15.68%	15.73%	15.90%	19.90%	30.23%
Common Equity to Total Capital	53.16%	53.67%	45.43%	53.80%	55.46%	50.10%	78.65%	74.68%	72.50%	61.80%	47.96%
Debt to EBITDA	-0.68	-1.51	-4.52	-5.05	8.17	-7.61	-2.05	-3.14	21.68	-1.03	-0.40
Net Debt to EBITDA	1.12	-0.08	-2.17	-0.60	-0.07	1.99	1.26	0.18	2.43	-0.37	-0.07
Long-Term Debt to EBITDA	-0.63	-1.42	-4.26	-4.65	6.96	-6.67	-1.14	-2.40	18.49	-0.66	-0.32
Debt to NOPAT	-0.63	-1.47	-3.12	-2.16	-3.54	-1.91	-1.35	-1.72	-2.32	-1.12	-0.45
Net Debt to NOPAT	1.04	-0.08	-1.49	-0.26	0.03	0.50	0.83	0.10	-0.26	-0.41	-0.08
Long-Term Debt to NOPAT	-0.59	-1.38	-2.94	-1.99	-3.01	-1.67	-0.75	-1.31	-1.97	-0.72	-0.36
Altman Z-Score	0.00	0.22	0.24	0.23	0.39	0.36	1.15	0.49	0.40	-0.10	-0.68
Noncontrolling Interest Sharing Ratio	41.21%	35.34%	34.34%	35.93%	34.01%	37.20%	21.11%	17.02%	17.70%	20.90%	29.73%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.57	1.42	1.51	1.34	1.24	1.38	1.26	1.53	1.82	1.26	1.29
Quick Ratio	1.29	1.05	1.09	0.84	0.79	0.66	0.68	0.75	0.83	0.57	0.56
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-549	-516	-578	-261	-95	-323	-5,795	-975	-1,238	-564	504
Operating Cash Flow to CapEx	-51.76%	-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%
Free Cash Flow to Firm to Interest Expense	-126.27	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	-1.82	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	-5.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.10	0.13	0.27	0.14	0.17	0.16	0.09	0.10	0.13	0.11	0.10
Accounts Receivable Turnover	4.60	5.89	14.28	8.83	11.99	11.91	10.67	13.35	12.89	11.70	11.89
Inventory Turnover	7.26	3.55	5.68	5.45	6.15	3.80	0.00	3.46	3.13	3.37	3.97
Fixed Asset Turnover	0.13	0.17	0.37	0.18	0.22	0.00	0.00	0.18	0.23	0.19	0.15
Accounts Payable Turnover	3.39	2.17	4.63	4.86	4.34	3.64	0.00	5.51	6.45	7.36	5.84
Days Sales Outstanding (DSO)	79.39	61.99	25.57	41.34	30.45	30.64	34.21	27.34	28.32	31.19	30.69
Days Inventory Outstanding (DIO)	50.25	102.93	64.25	67.00	59.33	96.09	0.00	105.57	116.46	108.25	92.02
Days Payable Outstanding (DPO)	107.52	167.95	78.89	75.06	84.09	100.21	0.00	66.23	56.60	49.60	62.46
Cash Conversion Cycle (CCC)	22.13	-3.04	10.93	33.27	5.69	26.52	34.21	66.68	88.18	89.84	60.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	456	819	1,263	1,397	1,407	1,579	7,049	7,557	8,331	7,510	4,420
Invested Capital Turnover	0.87	0.48	0.83	0.40	0.54	0.58	0.21	0.22	0.29	0.29	0.34
Increase / (Decrease) in Invested Capital	456	363	444	134	9.64	172	5,470	509	774	-821	-3,091
Enterprise Value (EV)	0.00	1,455	1,141	1,145	1,676	2,228	14,647	8,371	6,710	6,522	3,899
Market Capitalization	0.00	1,190	551	630	1,218	1,630	13,705	7,100	5,119	4,277	2,075
Book Value per Share	$14.25	$5.48	$6.48	$8.26	$8.48	$8.17	$30.77	$30.22	$31.48	$24.01	$11.39
Tangible Book Value per Share	$11.40	$4.39	$5.46	$7.30	$7.61	$7.20	$9.01	$9.48	$11.39	$9.68	$11.39
Total Capital	611	1,032	1,481	1,639	1,711	1,926	7,728	8,376	9,252	8,463	5,326
Total Debt	59	226	419	274	302	288	439	803	1,073	1,549	1,161
Total Long-Term Debt	54	212	395	253	257	252	244	613	915	1,001	930
Net Debt	-96	13	201	33	-2.58	-75	-269	-47	120	561	214
Capital Expenditures (CapEx)	15	13	13	7.96	4.95	25	3.10	8.58	18	21	1.57
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-65	-92	-70	-115	-170	-124	-277	-124	147	-46	-327
Debt-free Net Working Capital (DFNWC)	90	121	149	127	134	239	431	726	1,100	942	620
Net Working Capital (NWC)	86	107	125	106	89	204	236	536	942	394	388
Net Nonoperating Expense (NNE)	65	95	186	161	175	240	301	514	386	1,298	1,769
Net Nonoperating Obligations (NNO)	-96	13	201	33	-2.58	-59	-241	-16	152	596	256
Total Depreciation and Amortization (D&A)	50	71	98	129	156	187	243	388	451	532	621
Debt-free, Cash-free Net Working Capital to Revenue	-32.66%	-30.26%	-8.08%	-21.51%	-22.42%	-14.44%	-30.00%	-7.73%	6.34%	-2.02%	-16.07%
Debt-free Net Working Capital to Revenue	45.25%	39.69%	17.29%	23.89%	17.62%	27.85%	46.78%	45.08%	47.38%	41.68%	30.42%
Net Working Capital to Revenue	43.14%	35.20%	14.48%	19.85%	11.74%	23.73%	25.63%	33.27%	40.59%	17.44%	19.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($3.11)	($0.96)	$0.90	$1.18	$0.24	$0.23	($1.24)	($0.39)	$0.82	($7.41)	($12.81)
Adjusted Weighted Average Basic Shares Outstanding	22.80M	101.50M	102.37M	105.43M	110.09M	116.40M	139.61M	205.13M	211.35M	216.64M	222.22M
Adjusted Diluted Earnings per Share	($3.11)	($0.96)	$0.87	$1.15	$0.23	$0.21	($1.24)	($0.39)	$0.80	($7.41)	($12.81)
Adjusted Weighted Average Diluted Shares Outstanding	22.80M	101.50M	104.96M	108.21M	117.11M	123.88M	139.61M	205.13M	219.16M	216.64M	222.22M
Adjusted Basic & Diluted Earnings per Share	($3.11)	($0.96)	$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	22.80M	55.09M	104.64M	107.73M	113.90M	119.39M	202.58M	208.42M	214.42M	219.59M	226.21M
Normalized Net Operating Profit after Tax (NOPAT)	-93	-153	-134	-127	-85	-151	-326	-466	-464	-574	-401
Normalized NOPAT Margin	-46.75%	-50.37%	-15.63%	-23.81%	-11.23%	-17.59%	-35.30%	-28.97%	-19.97%	-25.42%	-19.69%
Pre Tax Income Margin	-84.38%	-83.45%	-30.75%	-51.69%	-33.01%	-46.50%	-74.55%	-60.33%	-36.50%	-119.28%	-215.05%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-31.19	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-21.34	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	-34.71	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	-24.86	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	-20.30%	11.55%	-12.32%	-18.96%	-30.13%	-19.60%	-17.74%	-20.04%	-25.61%	-8.39%	-7.09%
Augmented Payout Ratio	-20.30%	11.55%	-12.32%	-18.96%	-30.13%	-20.88%	-17.74%	-20.04%	-25.61%	-8.39%	-7.09%

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	44.02%	39.96%	18.97%	0.96%	-10.88%	-15.20%	-22.32%	-11.24%	-4.62%	0.37%
EBITDA Growth	285.08%	28.10%	-435.57%	-1,131.58%	-1,508.04%	-190.11%	144.24%	333.20%	95.15%	-1,316.01%
EBIT Growth	73.08%	5.64%	-274.41%	-59.40%	-3,216.11%	-84.68%	63.12%	61.38%	83.43%	-791.51%
NOPAT Growth	1.22%	9.03%	-25.49%	-32.60%	-889.01%	-4.41%	19.58%	37.82%	90.52%	-1,548.48%
Net Income Growth	35.56%	-2.01%	-114.59%	-62.44%	-845.90%	-63.28%	15.67%	23.71%	71.98%	-535.02%
EPS Growth	772.73%	277.78%	-166.67%	516.67%	-612.50%	-606.25%	64.29%	120.00%	92.48%	-677.16%
Operating Cash Flow Growth	50.10%	-8.29%	-71.34%	-2.18%	29.62%	61.92%	67.43%	-3.15%	-146.93%	-122.71%
Free Cash Flow Firm Growth	83.41%	-38.62%	5.14%	8.98%	60.03%	175.28%	231.58%	261.51%	153.88%	18.85%
Invested Capital Growth	11.25%	10.25%	7.45%	7.85%	-6.95%	-9.85%	-13.09%	-15.43%	-3.78%	-41.15%
Revenue Q/Q Growth	8.10%	-3.60%	-3.17%	0.06%	-4.58%	-8.27%	-11.31%	14.33%	2.54%	-3.48%
EBITDA Q/Q Growth	2,075.73%	-191.04%	-77.21%	70.61%	-2,869.72%	81.24%	127.02%	54.92%	-161.76%	-5,377.11%
EBIT Q/Q Growth	62.98%	-402.24%	-31.39%	34.76%	-670.19%	72.03%	73.76%	31.68%	-230.42%	-1,405.13%
NOPAT Q/Q Growth	12.27%	-38.86%	-20.35%	9.55%	-554.30%	85.34%	7.29%	30.08%	0.21%	-2,448.37%
Net Income Q/Q Growth	25.86%	-110.87%	-2.40%	-1.47%	-331.71%	63.60%	47.11%	8.20%	-58.58%	-724.85%
EPS Q/Q Growth	1,700.00%	-66.67%	-450.00%	122.32%	-2,068.00%	67.07%	75.31%	237.50%	-167.27%	-3,302.70%
Operating Cash Flow Q/Q Growth	54.58%	-239.06%	-44.19%	53.98%	68.72%	-83.44%	-23.35%	-45.74%	25.12%	-65.45%
Free Cash Flow Firm Q/Q Growth	-8.00%	2.35%	17.28%	-4.34%	52.57%	283.91%	44.58%	28.07%	-84.18%	305.69%
Invested Capital Q/Q Growth	1.29%	1.16%	2.23%	2.96%	-12.60%	-2.00%	-1.44%	0.18%	-0.56%	-40.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	17.50%	-65.21%	5.58%	8.64%	8.02%	6.58%	7.09%	18.15%	19.26%	18.80%
EBITDA Margin	12.71%	-12.00%	-21.97%	-6.45%	-200.83%	-41.07%	12.51%	16.95%	-10.21%	-579.39%
Operating Margin	-21.56%	-31.06%	-38.60%	-34.89%	-239.26%	-38.24%	-39.97%	-24.44%	-23.79%	-628.02%
EBIT Margin	-6.06%	-31.57%	-42.84%	-27.93%	-225.47%	-68.75%	-20.34%	-12.15%	-39.16%	-610.70%
Profit (Net Income) Margin	-24.61%	-53.83%	-56.93%	-57.73%	-261.18%	-103.64%	-61.80%	-49.62%	-76.73%	-655.74%
Tax Burden Percent	100.00%	100.70%	84.92%	105.80%	102.07%	99.70%	99.23%	95.96%	96.76%	100.00%
Interest Burden Percent	406.11%	169.32%	156.47%	195.33%	113.49%	151.19%	306.20%	425.44%	202.49%	107.37%
Effective Tax Rate	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)	-4.14%	-6.35%	-7.94%	-7.00%	-49.56%	-7.64%	-7.48%	-4.36%	-4.51%	-150.17%
ROIC Less NNEP Spread (ROIC-NNEP)	-257.11%	-292.12%	-67.22%	-51.03%	-186.15%	-113.71%	-38.67%	-40.52%	-73.91%	-413.18%
Return on Net Nonoperating Assets (RNNOA)	-0.78%	-2.54%	-2.52%	-2.85%	-9.51%	-5.64%	-2.57%	-2.50%	-4.87%	-31.78%
Return on Equity (ROE)	-4.93%	-8.89%	-10.46%	-9.84%	-59.06%	-13.28%	-10.05%	-6.86%	-9.38%	-181.96%
Cash Return on Invested Capital (CROIC)	-16.75%	-15.58%	-13.21%	-13.84%	-10.15%	-7.12%	-3.00%	0.67%	-2.08%	8.45%
Operating Return on Assets (OROA)	-0.75%	-4.10%	-5.60%	-3.53%	-27.48%	-7.82%	-2.13%	-1.20%	-3.78%	-61.68%
Return on Assets (ROA)	-3.05%	-6.99%	-7.44%	-7.30%	-31.84%	-11.79%	-6.48%	-4.88%	-7.42%	-66.23%
Return on Common Equity (ROCE)	-4.06%	-7.32%	-8.40%	-7.96%	-47.75%	-10.50%	-7.85%	-5.39%	-7.24%	-127.86%
Return on Equity Simple (ROE_SIMPLE)	-12.74%	0.00%	-15.91%	-17.58%	-44.12%	0.00%	-50.77%	-47.51%	-28.24%	0.00%
Net Operating Profit after Tax (NOPAT)	-95	-132	-159	-144	-943	-138	-128	-90	-89	-2,279
NOPAT Margin	-15.09%	-21.74%	-27.02%	-24.43%	-167.48%	-26.77%	-27.98%	-17.11%	-16.65%	-439.62%
Net Nonoperating Expense Percent (NNEP)	252.97%	285.77%	59.28%	44.04%	136.59%	106.07%	31.19%	36.16%	69.41%	263.01%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.53%	-	-	-	-1.78%	-	-	-	-48.48%
Cost of Revenue to Revenue	82.50%	165.21%	94.42%	91.36%	91.98%	93.42%	92.91%	81.85%	80.74%	81.20%
SG&A Expenses to Revenue	7.45%	-65.20%	9.02%	9.74%	9.46%	11.06%	11.19%	11.69%	11.28%	13.90%
R&D to Revenue	0.70%	0.68%	0.77%	0.77%	0.89%	1.48%	2.64%	1.96%	1.52%	1.70%
Operating Expenses to Revenue	39.06%	-34.15%	44.18%	43.53%	247.28%	44.82%	47.06%	42.59%	43.05%	646.83%
Earnings before Interest and Taxes (EBIT)	-38	-192	-253	-165	-1,270	-355	-93	-64	-210	-3,166
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	80	-73	-130	-38	-1,131	-212	57	89	-55	-3,004
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.88	0.76	0.67	0.58	0.49	0.82	0.55	0.49	0.76	0.81
Price to Tangible Book Value (P/TBV)	2.51	2.11	1.98	1.67	1.10	2.03	1.40	1.17	1.87	0.81
Price to Revenue (P/Rev)	2.73	2.21	1.79	1.59	1.16	1.89	1.35	1.28	1.98	1.02
Price to Earnings (P/E)	81.46	29.52	208.05	43.43	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.23%	3.39%	0.48%	2.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.90	0.81	0.74	0.68	0.62	0.87	0.68	0.63	0.83	0.88
Enterprise Value to Revenue (EV/Rev)	3.46	2.89	2.62	2.47	2.02	2.89	2.38	2.25	2.99	1.91
Enterprise Value to EBITDA (EV/EBITDA)	355.05	135.52	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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
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
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
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	85.78	0.00	7.74
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.14	0.13	0.14	0.18	0.21	0.22	0.21	0.20	0.19	0.28
Long-Term Debt to Equity	0.11	0.11	0.12	0.12	0.14	0.14	0.17	0.16	0.15	0.22
Financial Leverage	0.00	0.01	0.04	0.06	0.05	0.05	0.07	0.06	0.07	0.08
Leverage Ratio	2.22	2.27	2.33	2.39	2.55	2.63	2.72	2.75	2.99	3.64
Compound Leverage Factor	9.03	3.84	3.65	4.67	2.90	3.98	8.32	11.70	6.05	3.91
Debt to Total Capital	12.02%	11.60%	12.46%	15.15%	17.58%	18.30%	17.09%	16.32%	15.67%	21.81%
Short-Term Debt to Total Capital	2.03%	1.71%	2.08%	4.87%	6.30%	6.47%	3.30%	2.98%	2.83%	4.35%
Long-Term Debt to Total Capital	9.99%	9.89%	10.37%	10.28%	11.28%	11.83%	13.78%	13.34%	12.84%	17.46%
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%
Noncontrolling Interests to Total Capital	15.67%	15.90%	18.22%	16.54%	17.05%	19.90%	19.36%	19.98%	21.06%	30.23%
Common Equity to Total Capital	72.30%	72.50%	69.32%	68.31%	65.37%	61.80%	63.55%	63.70%	63.28%	47.96%
Debt to EBITDA	52.59	21.68	-9.79	-9.12	-1.10	-1.03	-1.05	-1.15	-10.81	-0.40
Net Debt to EBITDA	6.92	2.43	-2.69	-3.38	-0.41	-0.37	-0.46	-0.28	-2.45	-0.07
Long-Term Debt to EBITDA	43.71	18.49	-8.15	-6.19	-0.71	-0.66	-0.85	-0.94	-8.86	-0.32
Debt to NOPAT	-2.31	-2.32	-2.34	-2.75	-1.09	-1.12	-1.03	-1.06	-2.93	-0.45
Net Debt to NOPAT	-0.30	-0.26	-0.64	-1.02	-0.40	-0.41	-0.45	-0.26	-0.67	-0.08
Long-Term Debt to NOPAT	-1.92	-1.97	-1.95	-1.87	-0.70	-0.72	-0.83	-0.86	-2.40	-0.36
Altman Z-Score	0.50	0.44	0.36	0.32	-0.01	0.17	0.13	0.14	0.16	-0.62
Noncontrolling Interest Sharing Ratio	17.64%	17.70%	19.67%	19.14%	19.16%	20.90%	21.96%	21.52%	22.82%	29.73%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.74	1.82	1.81	1.47	1.36	1.26	1.31	1.66	1.47	1.29
Quick Ratio	0.82	0.83	0.74	0.62	0.59	0.57	0.52	0.88	0.66	0.56
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-929	-907	-750	-783	-371	683	987	1,264	200	811
Operating Cash Flow to CapEx	-1,378.84%	-4,126.68%	-10,994.07%	-2,647.59%	-1,355.34%	-2,488.35%	0.00%	-28,067.97%	-77,304.95%	-41,205.58%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-4.98	-2.17	0.00	0.00	6.10	0.93	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	-1.29	-0.37	0.00	0.00	-1.01	-0.72	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	-1.33	-0.40	0.00	0.00	-1.01	-0.73	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.12	0.13	0.13	0.13	0.12	0.11	0.10	0.10	0.10	0.10
Accounts Receivable Turnover	10.83	12.89	11.52	11.20	11.54	11.70	10.96	10.43	10.96	11.89
Inventory Turnover	2.73	3.13	3.57	3.92	4.19	3.37	3.02	3.24	3.53	3.97
Fixed Asset Turnover	0.22	0.23	0.23	0.22	0.20	0.19	0.17	0.16	0.15	0.15
Accounts Payable Turnover	4.54	6.45	7.06	8.92	9.17	7.36	6.21	6.80	6.55	5.84
Days Sales Outstanding (DSO)	33.71	28.32	31.68	32.58	31.63	31.19	33.30	34.99	33.29	30.69
Days Inventory Outstanding (DIO)	133.64	116.46	102.15	93.15	87.12	108.25	120.70	112.63	103.49	92.02
Days Payable Outstanding (DPO)	80.44	56.60	51.73	40.90	39.80	49.60	58.76	53.65	55.72	62.46
Cash Conversion Cycle (CCC)	86.91	88.18	82.09	84.83	78.95	89.84	95.23	93.97	81.07	60.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,236	8,331	8,517	8,769	7,664	7,510	7,402	7,416	7,375	4,420
Invested Capital Turnover	0.27	0.29	0.29	0.29	0.30	0.29	0.27	0.25	0.27	0.34
Increase / (Decrease) in Invested Capital	833	774	591	638	-572	-821	-1,115	-1,353	-289	-3,091
Enterprise Value (EV)	7,432	6,710	6,339	5,991	4,748	6,522	5,059	4,644	6,090	3,899
Market Capitalization	5,852	5,119	4,320	3,851	2,728	4,277	2,872	2,629	4,037	2,075
Book Value per Share	$31.20	$31.48	$30.16	$30.60	$25.84	$24.01	$23.56	$24.21	$23.61	$11.39
Tangible Book Value per Share	$10.98	$11.39	$10.17	$10.72	$11.45	$9.68	$9.36	$10.12	$9.64	$11.39
Total Capital	9,154	9,252	9,330	9,658	8,583	8,463	8,151	8,423	8,341	5,326
Total Debt	1,101	1,073	1,162	1,463	1,509	1,549	1,393	1,375	1,307	1,161
Total Long-Term Debt	915	915	968	993	968	1,001	1,124	1,124	1,071	930
Net Debt	145	120	319	542	557	561	610	332	296	214
Capital Expenditures (CapEx)	6.52	7.38	4.00	7.64	4.67	4.66	-3.53	0.74	0.20	0.63
Debt-free, Cash-free Net Working Capital (DFCFNWC)	27	147	286	211	94	-46	-117	-123	-263	-327
Debt-free Net Working Capital (DFNWC)	983	1,100	1,129	1,132	1,046	942	666	919	747	620
Net Working Capital (NWC)	798	942	934	661	505	394	397	668	511	388
Net Nonoperating Expense (NNE)	60	195	176	197	528	397	155	170	323	1,121
Net Nonoperating Obligations (NNO)	183	152	350	574	590	596	644	367	340	256
Total Depreciation and Amortization (D&A)	119	119	123	127	139	143	151	152	156	162
Debt-free, Cash-free Net Working Capital to Revenue	1.28%	6.34%	11.82%	8.71%	3.99%	-2.02%	-5.49%	-5.95%	-12.93%	-16.07%
Debt-free Net Working Capital to Revenue	45.79%	47.38%	46.73%	46.75%	44.46%	41.68%	31.30%	44.59%	36.70%	30.42%
Net Working Capital to Revenue	37.14%	40.59%	38.68%	27.32%	21.48%	17.44%	18.64%	32.42%	25.10%	19.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.99	$0.31	($1.12)	$0.26	($4.92)	($1.63)	($0.40)	$0.63	($0.37)	($12.67)
Adjusted Weighted Average Basic Shares Outstanding	212.70M	211.35M	214.55M	216.02M	217.34M	216.64M	219.88M	222.47M	223.70M	222.22M
Adjusted Diluted Earnings per Share	$0.96	$0.32	($1.12)	$0.25	($4.92)	($1.62)	($0.40)	$0.55	($0.37)	($12.59)
Adjusted Weighted Average Diluted Shares Outstanding	220.85M	219.16M	214.55M	221.85M	217.34M	216.64M	219.88M	255.11M	223.70M	222.22M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	213.10M	214.42M	215.61M	217.18M	217.88M	219.59M	221.66M	223.54M	224.34M	226.21M
Normalized Net Operating Profit after Tax (NOPAT)	-95	-132	-159	-144	-133	-138	-128	-90	-89	-2,279
Normalized NOPAT Margin	-15.09%	-21.74%	-27.02%	-24.43%	-23.55%	-26.77%	-27.98%	-17.11%	-16.65%	-439.62%
Pre Tax Income Margin	-24.61%	-53.46%	-67.03%	-54.57%	-255.88%	-103.95%	-62.28%	-51.71%	-79.30%	-655.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	-1.05	-7.41	0.00	0.00	-0.31	-0.98	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	-0.92	-5.51	0.00	0.00	-0.43	-0.41	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-1.10	-7.44	0.00	0.00	-0.31	-0.98	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-0.97	-5.53	0.00	0.00	-0.44	-0.42	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-24.49%	-25.61%	-22.38%	-20.57%	-9.66%	-8.39%	-8.97%	-11.23%	-19.45%	-7.09%
Augmented Payout Ratio	-24.49%	-25.61%	-22.38%	-20.57%	-9.66%	-8.39%	-8.97%	-11.23%	-19.45%	-7.09%

Frequently Asked Questions About Sunrun's Financials

When does Sunrun's financial year end?

According to the most recent income statement we have on file, Sunrun's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Sunrun's net income changed over the last 10 years?

Sunrun's net income appears to be on an upward trend, with a most recent value of -$4.36 billion in 2024, rising from -$157.49 million in 2014. The previous period was -$2.68 billion in 2023.

What is Sunrun's operating income?

Sunrun's total operating income in 2024 was -$3.70 billion, based on the following breakdown:

Total Gross Profit: $328.55 million
Total Operating Expenses: $4.02 billion

How has Sunrun revenue changed over the last 10 years?

Over the last 10 years, Sunrun's total revenue changed from $198.56 million in 2014 to $2.04 billion in 2024, a change of 926.3%.

How much debt does Sunrun have?

Sunrun's total liabilities were at $15.73 billion at the end of 2024, a 16.2% increase from 2023, and a 1,040.1% increase since 2014.

How much cash does Sunrun have?

In the past 10 years, Sunrun's cash and equivalents has ranged from $152.15 million in 2014 to $740.51 million in 2022, and is currently $574.96 million as of their latest financial filing in 2024.

How has Sunrun's book value per share changed over the last 10 years?

Over the last 10 years, Sunrun's book value per share changed from 14.25 in 2014 to 11.39 in 2024, a change of -20.1%.

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This page (NASDAQ:RUN) was last updated on 4/25/2025 by MarketBeat.com Staff

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Sunrun (RUN) Financials

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Sunrun (RUN) Financials

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