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Sunrun Inc Stock Research

RUN

19.01USD-0.66(-3.36%)Market Closed

Market Summary

USD19.01-0.66
Market Closed
-3.36%

RUN Alerts

RUN Stock Price

RUN RSI Chart

RUN Valuation

Market Cap

4.1B

Price/Earnings (Trailing)

23.48

Price/Sales (Trailing)

1.75

EV/EBITDA

-119.74

Price/Free Cashflow

-4.7

RUN Price/Sales (Trailing)

RUN Profitability

EBT Margin

-36.50%

Return on Equity

2.58%

Return on Assets

0.9%

Free Cashflow Yield

-21.29%

RUN Fundamentals

RUN Revenue

Revenue (TTM)

2.3B

Revenue Y/Y

39.96%

Revenue Q/Q

-3.6%

RUN Earnings

Earnings (TTM)

173.4M

Earnings Y/Y

263.61%

Earnings Q/Q

-70.07%

Price Action

52 Week Range

16.8039.13
(Low)(High)

Last 7 days

-18.9%

Last 30 days

-16.1%

Last 90 days

-37.2%

Trailing 12 Months

-30.7%

RUN Financial Health

Current Ratio

1.82

Debt/Equity

1.25

Debt/Cashflow

-0.1

RUN Investor Care

Shares Dilution (1Y)

2.89%

Diluted EPS (TTM)

0.8

Peers (Alternatives to Sunrun)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
65.4B
20.8B
-8.63% 7.74%
26.56
3.15
5.73% 14.83%
46.8B
18.5B
-6.78% -11.52%
10.03
2.53
7.53% 69.43%
32.4B
7.9B
-5.83% 7.55%
30.13
4.11
8.16% 6.80%
13.0B
4.9B
-4.48% 28.51%
23.77
2.62
17.97% 43.13%
MID-CAP
7.1B
2.9B
-9.39% 21.67%
17.64
2.42
18.16% 46.50%
6.8B
701.4M
-23.72% -48.90%
-9.42
9.72
39.63% -57.41%
6.1B
4.1B
-3.18% 0.72%
16.42
1.5
13.43% 11.07%
4.1B
2.3B
-16.08% -30.67%
23.48
1.75
44.19% 318.30%
3.3B
3.0B
0.51% 37.67%
4.64
1.1
16.39% 32.58%
SMALL-CAP
1.3B
135.8M
-12.14% -48.21%
-10.39
9.23
56.94% -26.12%
974.4M
1.6B
-3.24% -17.81%
-30.06
0.61
131.42% -141.26%
531.0M
1.5B
-5.88% -6.24%
-8.13
0.35
3.42% 59.07%
488.4M
832.2M
-17.61% -37.80%
3.4K
0.59
22.22% -97.55%
25.8M
43.9M
-8.22% -26.62%
-15.06
0.59
8.24% -142.95%

Financials for Sunrun

Income Statement (Last 12 Months)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue8.1%2,321,422,0002,147,499,0001,954,358,0001,770,944,0001,609,954,000
  S&GA Expenses1.1%745,386,000737,133,000714,603,000671,774,000622,961,000
  R&D Expenses-10.4%20,907,00023,335,00024,539,00023,550,00023,165,000
EBITDA16.8%-96,190,000-115,681,000-226,601,000-282,320,000-
EBITDA Margin23.1%-0.04-0.05-0.12-0.16-
Earnings Before Taxes-4.0%-847,354,000-814,868,000-890,715,000-912,557,000-971,259,000
EBT Margin3.8%-0.37-0.38-0.46-0.52-
Interest Expenses13.2%300,118,000265,236,000249,927,000238,232,000225,250,000
Net Income141.3%173,377,00071,837,000-114,594,000-143,412,000-79,423,000
Net Income Margin123.3%0.070.03-0.06-0.08-
Free Cahsflow-4.1%-866,996,000-833,233,000-923,050,000-902,956,000-
Balance Sheet
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets3.8%19,26918,56817,80117,25516,483
  Current Assets11.6%2,0981,8801,7101,7091,548
    Cash Equivalents-0.3%953956863863850
  Inventory33.1%784589547556507
  Goodwill0%4,2804,2804,2804,2804,280
Liabilities5.5%11,09010,5159,9889,5748,911
  Current Liabilities6.7%1,1551,0839911,0701,012
  Long Term Debt5.2%8,3997,9857,6037,1396,503
Shareholder's Equity1.4%6,7086,6197,1737,0516,255
  Retained Earnings58.5%171108-102-90.36-2.58
  Additional Paid-In Capital0.6%6,4706,4326,4046,3596,330
Shares Outstanding0.6%214213212209208
Minority Interest4.4%861825826786723
Cashflow (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations-2.8%-848-825-915-887-817
  Share Based Compensation-20.4%111139155172211
Cashflow From Investing-1.5%-2,086-2,055-1,949-1,831-1,686
Cashflow From Financing4.9%3,0372,8962,8712,7682,646
  Buy Backs-0.00----

Risks for RUN

What is the probability of a big loss on RUN?

100%


Probability that Sunrun stock will be more than 20% underwater in next one year

78.5%


Probability that Sunrun stock will be more than 30% underwater in next one year.

60.8%


Probability that Sunrun stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does RUN drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Sunrun was unfortunately bought at previous high price.

Drawdowns

Returns for RUN

Cumulative Returns on RUN

16.8%


7-Year Cumulative Returns

20.8%


5-Year Cumulative Returns

20.7%


3-Year Cumulative Returns

What are the long-term rolling returns for RUN?

FIve years rolling returns for Sunrun.

Annualized Returns

Which funds bought or sold RUN recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
reduced
-2.59
-194,124
1,080,880
-%
2023-03-06
Rockefeller Capital Management L.P.
reduced
-40.15
-2,494,000
2,712,000
0.01%
2023-03-02
LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA
new
-
435,028
435,028
-%
2023-02-28
Voya Investment Management LLC
added
0.5
-1,902,970
13,315,000
0.02%
2023-02-27
Parallax Volatility Advisers, L.P.
reduced
-30.7
-3,035,410
4,615,590
0.01%
2023-02-24
NATIXIS
added
60.02
2,644,390
10,201,400
0.06%
2023-02-22
CVA Family Office, LLC
reduced
-55.56
-4,118
2,882
-%
2023-02-22
TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY
unchanged
-
-115,000
769,000
0.01%
2023-02-21
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
reduced
-2.39
-61,954
353,046
-%
2023-02-21
MACQUARIE GROUP LTD
added
0.88
-1,890,000
13,228,000
0.02%

1–10 of 44

Latest Funds Activity

Are funds buying RUN calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own RUN
No. of Funds

Sunrun News

Opto RoW

Canadian Solar shares surge following Q4 beat.

Opto RoW,
17 hours ago

Morningstar

The Wall Street Journal

Schaeffers Research

Put Traders Cheer Sunrun's Recent Drop.

Schaeffers Research,
10 days ago

InvestorPlace

Schedule 13G FIlings of Sunrun

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 14, 2023
orbis investment management ltd
5.7%
12,032,777
SC 13G
Feb 09, 2023
vanguard group inc
8.87%
18,897,702
SC 13G/A
Jan 27, 2023
blackrock inc.
14.6%
31,038,979
SC 13G/A
Jan 23, 2023
blackrock inc.
14.6%
31,066,329
SC 13G/A
Mar 11, 2022
blackrock inc.
14.3%
29,653,775
SC 13G/A
Feb 14, 2022
coatue management llc
1.9%
3,960,982
SC 13G/A
Feb 10, 2022
fmr llc
-
0
SC 13G/A
Feb 08, 2022
blackrock inc.
14.3%
29,653,775
SC 13G
Jan 10, 2022
fmr llc
-
0
SC 13G/A
Feb 16, 2021
blackstone holdings iii l.p.
0.0%
0
SC 13G/A

RUN Fair Value

Sunrun fair value in different scenarios

The table shows the Fair Value estimates for Sunrun for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

24.95

31.25%

32.09

68.81%

51.28

169.75%

75.96

299.58%

113.86

498.95%
Current Inflation

23.57

23.99%

29.79

56.71%

46.35

143.82%

67.37

254.39%

99.67

424.30%
Very High Inflation

21.85

14.94%

26.97

41.87%

40.47

112.89%

57.29

201.37%

83.15

337.40%

Historical Sunrun Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of Sunrun

View All Filings
Date Filed Form Type Document
Mar 08, 2023
4
Insider Trading
Mar 08, 2023
4
Insider Trading
Mar 08, 2023
4
Insider Trading
Mar 08, 2023
4
Insider Trading
Mar 08, 2023
4
Insider Trading
Mar 08, 2023
4
Insider Trading
Mar 08, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading

Latest Insider Trading transactions for RUN

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-03-06
Jurich Lynn Michelle
sold
-71,027
25.5128
-2,784
-
2023-03-06
Powell Mary
sold
-473,098
25.5122
-18,544
chief executive officer
2023-03-06
Dickson Paul S.
sold
-383,700
25.5103
-15,041
chief revenue officer
2023-03-06
Philpot Michelle
sold
-38,571
25.51
-1,512
chief accounting officer
2023-03-06
STEELE JEANNA
sold
-375,607
25.5116
-14,723
chief legal & people officer
2023-03-06
Fenster Edward Harris
sold
-175,689
25.514
-6,886
-
2023-03-06
Abajian Danny
sold
-250,983
25.509
-9,839
chief financial officer
2023-03-01
STEELE JEANNA
acquired
-
-
36,029
chief legal & people officer
2023-03-01
Dickson Paul S.
acquired
-
-
39,319
chief revenue officer
2023-03-01
Abajian Danny
acquired
-
-
39,978
chief financial officer

1–10 of 50

Mary G. Powell
11400
Sunrun Inc. engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems. Its primary customers are residential homeowners. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network. Sunrun Inc. was founded in 2007 and is headquartered in San Francisco, California.

RUN Income Statement

2022-12-31
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue:   
Total revenue$ 2,321,422$ 1,609,954$ 922,191
Operating expenses:   
Sales and marketing745,386622,961352,299
Research and development20,90723,16519,548
General and administrative189,247259,173266,746
Amortization of intangible assets5,3645,3705,180
Total operating expenses2,983,6142,276,1411,387,299
Loss from operations(662,192)(666,187)(465,108)
Interest expense, net(445,819)(327,700)(230,601)
Other income (expense), net260,65722,6288,188
Loss before income taxes(847,354)(971,259)(687,521)
Income tax expense (benefit)2,2919,271(60,573)
Net loss(849,645)(980,530)(626,948)
Net loss attributable to noncontrolling interests and
   redeemable noncontrolling interests(1,023,022)(901,107)(453,554)
Net income (loss) attributable to common stockholders$ 173,377$ (79,423)$ (173,394)
Net income (loss) per share attributable to common stockholders   
Basic (in dollars per share)$ 0.82$ (0.39)$ (1.24)
Diluted (in dollars per share)$ 0.80$ (0.39)$ (1.24)
Weighted average shares used to compute net income (loss)
   per share attributable to common stockholders   
Basic (in shares)211,347205,132139,606
Diluted (in shares)219,157205,132139,606
Customer agreements and incentives   
Revenue:   
Total revenue$ 983,047$ 826,564$ 484,160
Operating expenses:   
Costs844,162699,102385,650
Solar energy systems and product sales   
Revenue:   
Total revenue1,338,375783,390438,031
Operating expenses:   
Costs$ 1,178,548$ 666,370$ 357,876

RUN Balance Sheet

2022-12-31
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:  
Cash$ 740,508$ 617,634
Restricted cash212,367232,649
Accounts receivable (net of allowances for credit losses of $13,381 and $11,035    as of December 31, 2022 and 2021, respectively)214,255146,037
Inventories783,904506,819
Prepaid expenses and other current assets146,60944,580
Total current assets2,097,6431,547,719
Restricted cash148148
Solar energy systems, net10,988,3619,459,696
Property and equipment, net67,43956,886
Intangible assets, net7,52712,891
Goodwill4,280,1694,280,169
Other assets1,827,5181,125,743
Total assets[1]19,268,80516,483,252
Current liabilities:  
Accounts payable339,166288,108
Distributions payable to noncontrolling interests and redeemable noncontrolling interests32,05031,582
Accrued expenses and other liabilities406,466364,136
Deferred revenue, current portion183,719111,739
Deferred grants, current portion8,2528,302
Finance lease obligations, current portion11,44410,901
Non-recourse debt, current portion157,810190,186
Pass-through financing obligation, current portion16,5447,166
Total current liabilities1,155,4511,012,120
Deferred revenue, net of current portion912,254761,872
Deferred grants, net of current portion201,094206,615
Finance lease obligations, net of current portion17,30211,314
Line of credit505,158211,066
Non-recourse debt, net of current portion7,343,2995,711,020
Convertible senior notes392,882390,618
Pass-through financing obligation, net of current portion289,011314,231
Other liabilities140,290190,056
Deferred tax liabilities133,047101,753
Total liabilities[1]11,089,7888,910,665
Commitments and contingencies (Note 19)
Redeemable noncontrolling interests609,702594,973
Stockholders’ equity:  
Preferred stock, $0.0001 par value—authorized, 200,000 shares as of    December 31, 2022 and 2021; no shares issued and outstanding    as of December 31, 2022 and 202100
Common stock, $0.0001 par value—authorized, 2,000,000 shares as of    December 31, 2022 and 2021; issued and outstanding, 214,184 and    208,176 shares as of December 31, 2022 and 2021, respectively2121
Additional paid-in capital6,470,1946,330,344
Accumulated other comprehensive loss67,109(73,050)
Retained earnings170,798(2,579)
Total stockholders’ equity6,708,1226,254,736
Noncontrolling interests861,193722,878
Total equity7,569,3156,977,614
Total liabilities, redeemable noncontrolling interests and total equity$ 19,268,805$ 16,483,252
[1]The Company’s consolidated assets as of December 31, 2022 and 2021 include $10,031,506 and $8,381,220, respectively, in assets of variable interest entities, or “VIEs”, that can only be used to settle obligations of the VIEs. Solar energy systems, net, as of December 31, 2022 and 2021 were $8,968,835 and $7,605,769, respectively; cash as of December 31, 2022 and 2021 were $457,005 and $377,044, respectively; restricted cash as of December 31, 2022 and 2021 were $44,514 and $70,346, respectively; accounts receivable, net as of December 31, 2022 and 2021 were $66,847 and $55,714, respectively; inventories as of December 31, 2022 and  2021 of $193,836 and $93,604, respectively; prepaid expenses and other current assets as of December 31, 2022 and 2021 were $12,698 and $1,519, respectively and other assets as of December 31, 2022 and 2021 were $287,771 and $177,224, respectively. The Company’s consolidated liabilities as of December 31, 2022 and 2021 include $2,227,002 and $2,152,492, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of December 31, 2022 and 2021 of $36,315 and $26,042, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of December 31, 2022 and 2021 of $32,051 and $31,582, respectively; accrued expenses and other liabilities as of December 31, 2022 and 2021 of $32,512 and $31,036, respectively; deferred revenue as of December 31, 2022 and 2021 of $621,457 and $530,385, respectively; deferred grants as of December 31, 2022 and 2021 of $0 and $25,634, respectively; non-recourse debt as of December 31, 2022 and 2021 of $1,489,407 and $1,482,608, respectively; and other liabilities as of December 31, 2022 and 2021 of $15,260 and $25,205, respectively.