Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Sunrun Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
477
533
760
859
922
1,610
2,321
2,260
2,038
2,957
Cost of revenue
239
254
Gross profit
238
278
Research and development
10.2
15.1
18.8
23.6
19.5
23.2
20.9
21.8
39.3
36.1
Selling and marketing
169
146
207
275
352
623
745
741
617
709
General and administrative
92.4
107
117
125
267
265
195
221
245
278
Operating income
-192
-181
-122
-216
-465
-666
-662
-1,979
-3,695
-126
Other non-operating income
0.84
-1.87
-2.79
-9.25
8.19
22.6
261
-63.9
162
-53.4
Pre-tax income
-265
-275
-251
-399
-688
-971
-847
-2,696
-4,382
-1,176
Income tax
56.3
12.4
9.32
-8.22
-60.6
9.27
2.29
-12.7
-26.8
-167
Net income to minority interests
-396
-413
-287
-417
-454
-901
-1,023
-1,078
-1,509
-1,459
Net income
75.1
125
26.7
26.3
-173
-79.4
173
-1,604
-2,846
450
EBITDA
-173
-162
-101
-193
-445
-643
-635
-1,947
-3,651
-87.8
EPS, basic
0.73
1.19
0.24
0.23
-1.24
-0.39
0.82
-7.41
-12.81
1.96
EPS, diluted
0.72
1.16
0.23
0.21
-1.24
-0.39
0.80
-7.41
-12.81
1.71
Shares, basic (weighted)
102
105
110
116
140
205
211
217
222
230
Shares, diluted (weighted)
105
108
117
124
140
205
219
217
222
264
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
224
242
304
363
708
850
953
988
947
1,237
Receivables
60.3
66.4
66.4
77.7
95.1
146
214
172
171
263
Inventory
67.3
94.4
79.5
261
283
507
784
460
402
501
Other current assets
0.01
0
8.56
32.5
51.5
44.6
147
263
203
155
Total current assets
369
417
461
734
1,138
1,548
2,098
1,882
1,723
2,156
Property, plant and equipment
48.5
36.4
34.9
56.7
62.2
56.9
67.4
149
121
75.7
Lease right-of-use assets
25.5
20.3
34.7
81.5
92.7
105
91.6
76.8
62.8
Goodwill
87.5
87.5
87.5
95.1
4,280
4,280
4,280
3,122
0
0
Intangible assets
18.5
14.3
10.1
19.5
18.3
12.9
7.53
Other non-current assets
34.9
246
336
408
682
1,126
1,835
2,268
3,022
3,561
Total assets
3,573
3,963
4,750
5,806
14,383
16,483
19,269
20,450
19,898
22,611
Accounts payable
66
115
131
223
207
288
339
231
354
271
Deferred revenue
70.8
42.6
47.4
77.6
108
112
184
129
129
163
Short-term debt
14.2
21.5
35.5
35.3
Total current liabilities
245
311
372
530
901
1,012
1,155
1,488
1,334
1,303
Long-term debt
884
1,273
1,713
2,220
Lease liabilities
14.2
36.1
85.6
Other non-current liabilities
5.46
42.7
48.2
141
269
190
140
191
120
156
Total liabilities
2,511
2,599
3,341
4,168
7,094
8,911
11,090
13,536
15,734
17,627
Total debt
898
1,295
1,749
2,255
4,796
6,503
8,399
10,672
12,901
14,696
Paid-in capital
668
683
722
766
6,108
6,330
6,470
6,609
6,747
6,899
Retained earnings
4.44
203
229
251
76.8
-2.58
171
-1,434
-4,280
-3,830
Other comprehensive income
0.44
-4.11
-3.12
-52.8
-107
-73.1
67.1
54.7
86.8
63.1
Shareholders' equity
673
882
949
965
6,078
6,255
6,708
5,230
2,554
3,132
Minority interests
251
359
334
367
651
723
861
1,008
986
1,142
Total equity
996
1,241
1,283
1,331
6,729
6,978
7,569
6,238
3,540
4,275
Total liabilities and equity
3,573
3,963
4,750
5,806
14,383
16,483
19,269
20,450
19,898
22,611
Shares outstanding
104
104
113
118
201
208
214
219
226
234
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-321
-288
-260
-391
-627
-981
-850
-2,683
-4,355
-1,009
Depreciation and amortization
18.8
19.5
20.4
22.6
20
23
27.2
31.9
44.1
38.3
Stock-based compensation
18.7
22
27.9
26.3
171
211
111
112
113
108
Deferred income tax
56.3
12.4
10.1
-8.61
-59.2
9.27
2.29
-12.7
-26.8
-167
Change in receivables
-1.97
-9.41
-5.71
-14.9
4.99
-62.1
-86.8
15.7
-15
-120
Change in inventory
4.04
-27.1
15
-181
47.6
-224
-277
324
57.7
-99.2
Change in payables
-40.3
47.8
8.85
67.4
-45.7
66.9
40.5
-109
177
-80.1
Cash from operations
-200
-96.1
-62.5
-204
-318
-817
-849
-821
-766
-421
Capital expenditures
-12.5
-7.96
-4.95
-25.3
-3.1
-8.58
-18.2
-21
-1.57
Acquisitions
-5
0
0
-2.72
537
0
0
Cash from investing
-696
-777
-811
-843
-498
-1,686
-2,086
-2,613
-2,701
-2,500
Debt issued
336
3,746
4,010
4,111
Debt repaid
-23.1
-1,576
-1,795
-2,286
Stock issued
0
0
75
0
0
22.6
18.9
16.8
Share buybacks
0
0
-5
0
0
Cash from financing
899
891
936
1,107
1,161
2,646
3,037
3,469
3,427
3,211
Net change in cash
3.2
17.4
62.6
58.8
345
142
103
34.8
-40.4
290
Free cash flow
-213
-104
-67.4
-230
-321
-826
-867
-842
-768
Interest paid
26.2
42.2
76.3
99.5
120
225
300
433
591
742
Income taxes paid
0
0
0
0
0
0
0
0
0
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $8.11 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
2.7%
Operating income / revenue.
EBITDA margin
23.7%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-26.4%
Pre-tax income / revenue.
Net margin
11.6%
Net income / revenue.
Operating cash flow margin
-5.8%
Cash from operations / revenue.
Return on equity (ROE)
11.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
1.7%
Net income / average total assets.
Return on invested capital (ROIC)
0.4%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
1.1%
Research and development expense / revenue.
Stock-based pay / revenue
3.0%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
21.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
45.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
8.4%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
26.2%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y
37.4%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 3y
28.8%
Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
22.6%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-22.4%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-12.4%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
13.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
5.5%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
9.5%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
19.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
6.5%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
13.6%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.42x
Current assets / current liabilities.
Quick ratio
0.90x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.75x
(Cash + short-term investments) / current liabilities.
Debt / equity
4.34x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
64.9%
Total debt / total assets.
Liabilities / assets
77.7%
Total liabilities / total assets.
Net debt
$14.02B
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
17.0x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$12.68
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.73
Cash from operations / diluted weighted shares.
Book value per share
$14.53
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
4.85x
Market cap / net income. Only when net income is positive.
P/S
0.56x
Market cap / revenue.
P/B
0.56x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.56x
Market cap / tangible book value, when positive.
EV/Sales
4.60x
Enterprise value / revenue.
EV/EBIT
173x
Enterprise value / operating income, when both are positive.
EV/EBITDA
19.4x
Enterprise value / EBITDA, when both are positive.
Earnings yield
20.6%
Net income / market cap (the inverse of P/E).
PEG
0.17x
P/E / EPS growth per year over 3 years (in percent). Only when both are positive.
What was Sunrun Inc.'s revenue in fiscal 2025?
Sunrun Inc. reported revenue of $2.96B for fiscal 2025, 45.1% higher than the year before.
Was Sunrun Inc. profitable in fiscal 2025?
Yes. Net income was $449.9M, a net margin of 15.2%.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.