Sunrun Inc. (RUN) stock analysis
Close on Nov 11, 2026Market cap $2.18BP/E 4.6Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed14 of 30 checks passed
Sunrun passes 14 of the 30 checks behind our score; 10 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 4/6
- Growth
- 2/6
- Past performance
- 3/6
- Financial health
- 5/6
- Dividend
- 0/6
What stands out
Margin of safety over 20%
The price is 73.2% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $9.07 is below our fair value estimate of $33.79.
No debt
Sunrun has no borrowings on its latest balance sheet.
EPS growing 10%+ a year
Diluted EPS grew 28.8% a year over the last three fiscal years.
What to watch
Return on equity under 15%
Return on equity was 16.2% over the last twelve months and averaged -16.6% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 7.3%, below the 10% that usually covers the cost of capital.
Revenue growing under 10% a year
Revenue grew 8.4% a year over the last three fiscal years, short of the 10% we look for.
Elevated bankruptcy risk
The Altman Z-score is 0.11; above 3 is the safe zone and below 1.8 the distress zone.
Valuation4/6
P/E against its history
Not enough price and earnings history to compare.
P/E below the industry
Sunrun's P/E of 4.6 is below the Construction Special Trade Contractors median of 25.1.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B below the industry
Sunrun's price-to-book of 0.59 is below the Construction Special Trade Contractors median of 1.66.
Trading below fair value
The share price of $9.07 is below our fair value estimate of $33.79.
Margin of safety over 20%
The price is 73.2% below fair value, more than the 20% cushion we look for.
Growth2/6
Revenue growing under 10% a year
Revenue grew 8.4% a year over the last three fiscal years, short of the 10% we look for.
EPS growing 10%+ a year
Diluted EPS grew 28.8% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 66.2% over the last twelve months; the Construction Special Trade Contractors median is 8.0%.
Guidance lowered
Sunrun lowered its full-year 2026 Cash Generation outlook on Aug 5, 2026.
Gross margin trend
This company does not report gross profit.
Past performance3/6
Return on equity under 15%
Return on equity was 16.2% over the last twelve months and averaged -16.6% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 7.3%, below the 10% that usually covers the cost of capital.
Return on equity above the industry
Sunrun's return on equity of 16.2% is above the Construction Special Trade Contractors median of -16.7%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 14.0% over the last twelve months, against a 5-year average of -38.6%.
Net margin above the industry
Sunrun's net margin of 14.0% is above the Construction Special Trade Contractors median of -7.9%.
Financial health5/6
No debt
Sunrun has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term assets cover short-term debts
Current assets are 1.52 times current liabilities.
Elevated bankruptcy risk
The Altman Z-score is 0.11; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Sunrun has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$33.79
The share price is 73% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 25.1× | – | 25.1× | $49.66 | 47% |
| EV/EBITDA | 13.0× | – | 13.0× | $20.08 | 41% |
| P/B | 1.2× | 0.7× | 1.7× | $18.36 | 12% |
| Fair value | $33.79 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Construction Special Trade Contractors median 25.1
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $92.70M
- Value traded per 1% price move
- $23.52M
Downside
High risk
- Typical loss in a bad month
- 39.4%
- Volatility (annualized)
- 78%
- Sharpe ratio, 1 year
- -0.71
- Beta to the S&P 500 (5Y)
- 2.03
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2012 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +45.1% | +8.4% | +26.2% | +25.5% | |
| Net income | – | +37.4% | – | – | |
| EPS, diluted | – | +28.8% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 12.2% | -4.9% | 15.8% | |
| Return on assets | 2.4% | -1.7% | 2.1% | |
| Current ratio | 1.51 | 1.26 | 1.66 | |
| Debt to equity | 1.33 | – | – | |
| Net debt to EBITDA | -3.89× | – | – | |
| Inventory turnover | 3.5× | – | – | |
| Capex to revenue | 2.6% | 0.3% | – | |
| Diluted shares | 105M | 140M | 264M |
Cash use needs five years of cash flow figures
Sunrun does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 15.2% | 0.14× | 7.48× | 15.8% |
| FY2024 | -139.7% | 0.10× | 5.18× | -73.1% |
| FY2023 | -71.0% | 0.11× | 3.33× | -26.9% |
| FY2022 | 7.5% | 0.13× | 2.76× | 2.7% |
| FY2021 | -4.9% | 0.10× | 2.50× | -1.3% |
| FY2020 | -18.8% | 0.09× | 2.87× | -4.9% |
| FY2019 | 3.1% | 0.16× | 5.52× | 2.8% |
| FY2018 | 3.5% | 0.17× | 4.76× | 2.9% |
| FY2017 | 23.6% | 0.14× | 4.85× | 16.1% |
| FY2016 | 15.7% | 0.15× | 5.14× | 12.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$449.95M
- Cash generatingOperating cash flow above zero-$421.44M
- Return on assets improvedROA up on the prior year-13.9% → 2.3%
- Earnings backed by cashOperating cash flow above net income-$421.44M vs $449.95M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.29 → 1.66
- No dilutionShare count did not rise222M → 264M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.10 → 0.15
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