SUNNOVA ENERGY INTL (NOVAQ) Financials
Newest figures come from the 10-K for FY2024, filed Mar 3, 2025. Each column of the statement tables below links to the filing it was taken from.
SUNNOVA ENERGY INTL INC (NOVAQ) reported $839.9M in revenue for fiscal year 2024, up 16.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Sunnova’s growth is funded by heavy borrowing and reinvestment, while operating losses and cash outflows remain embedded in the model.
From FY2022 to FY2024, revenue rose50.6% while long-term debt rose56.6% , showing that expansion required nearly proportionate borrowing. That financing structure, alongside a355.7% increase in interest expense, helps explain why growth has not yet translated into operating profit.
By FY2024, liabilities were
Capital expenditures were
Financial Health Signals
SUNNOVA ENERGY INTL INC does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
SUNNOVA ENERGY INTL INC scores -0.02, below the 1.81 distress threshold. The score is pulled down most by an operating loss of $239.5M against total assets of $13.4B. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
SUNNOVA ENERGY INTL INC passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.
SUNNOVA ENERGY INTL INC reported a net loss of $367.9M while operations used $310.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
SUNNOVA ENERGY INTL INC reported an operating loss of $239.5M against $491.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
SUNNOVA ENERGY INTL INC generated $224.1M in revenue in Q4 2024. This represents an increase of 15.4% from the same quarter a year earlier. Against the prior quarter it is down 4.7%.
SUNNOVA ENERGY INTL INC's EBITDA was $27.0M in Q4 2024, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is up 84.2%.
SUNNOVA ENERGY INTL INC reported a net loss of $142.3M in Q4 2024. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
SUNNOVA ENERGY INTL INC earned -$1.14 per diluted share (EPS) in Q4 2024. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
SUNNOVA ENERGY INTL INC recorded an outflow of $384.5M in free cash flow in Q4 2024, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
SUNNOVA ENERGY INTL INC held $211.2M in cash against $8.1B in long-term debt as of Q4 2024.
Not reported for Q4 2024.
Margins & Returns
SUNNOVA ENERGY INTL INC's operating margin was -19.6% in Q4 2024, reflecting core business profitability. This is up 30.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.7 percentage points.
SUNNOVA ENERGY INTL INC's net profit margin was -63.5% in Q4 2024, showing the share of revenue converted to profit. This is up 33.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 11.4 percentage points.
SUNNOVA ENERGY INTL INC's quarterly ROE was -7.8% in Q4 2024: one quarter's net income over shareholder equity, not annualized. This is up 4.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.
Not reported for Q4 2024.
Capital Allocation
SUNNOVA ENERGY INTL INC invested $313.6M in capex in Q4 2024, funding long-term assets and infrastructure. This represents a decrease of 39.4% from the same quarter a year earlier. Against the prior quarter it is down 32.5%.
Not reported for Q4 2024.
Not reported for Q4 2024.
NOVAQ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $224.1M+15.4% | $235.3M+18.6% | $219.6M+32.0% | $160.9M-0.5% | $194.2M-0.7% | $198.4M+32.8% | $166.4M+13.2% | $161.7M+146.0% |
| SG&A Expenses | $120.2M+48.0% | $110.7M+10.3% | $111.0M+9.5% | $117.1M+15.7% | $81.2M | $100.3M+32.2% | $101.4M+48.6% | $101.3M+44.2% |
| Operating Income | -$43.9Mn/m | -$52.5Mn/m | -$58.9Mn/m | -$84.2Mn/m | -$96.7Mn/m | -$38.2Mn/m | -$59.8Mn/m | -$48.8Mn/m |
| EBITDA | $27.0Mn/m | $14.7M+58.1% | $4.4Mn/m | -$25.9Mn/m | -$43.8M-316.1% | $9.3M+29.2% | -$17.2M-156.2% | -$8.8Mn/m |
| Interest Expense | $102.5M-40.3% | $182.5M+216.9% | $121.5M+113.4% | $84.6M-1.2% | $171.8M | $57.6M+176.6% | $56.9M+131.8% | $85.6M |
| Income Tax | $14.9M+2346.6% | -$46.1Mn/m | -$70.3M-1078.1% | -$43.0M-8536.9% | $609K | -$9.3Mn/m | $7.2Mn/m | $510Kn/m |
| Net Income | -$142.3Mn/m | -$122.6Mn/m | -$33.1Mn/m | -$70.0Mn/m | -$187.6Mn/m | -$63.1Mn/m | -$86.1Mn/m | -$81.1Mn/m |
| EPS (Basic) | -$1.14n/m | -$0.98n/m | -$0.27n/m | -$0.57n/m | -$1.56n/m | -$0.53n/m | -$0.74n/m | -$0.70n/m |
| EPS (Diluted) | -$1.14n/m | -$0.98n/m | -$0.27n/m | -$0.57n/m | -$1.56n/m | -$0.53n/m | -$0.74n/m | -$0.70n/m |
| Diluted Shares (Avg) | N/A | 125M+4.4% | 124M+6.9% | 123M+6.8% | N/A | 120M+4.1% | 116M+1.5% | 115M+1.4% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
NOVAQ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.4B+17.7% | $12.9B+19.4% | $12.6B+30.7% | $11.8B+32.7% | $11.3B+36.0% | $10.8B+41.0% | $9.6B+43.6% | $8.9B+50.2% |
| Current Assets | $1.0B+9.7% | $914.6M-8.0% | $1.1B+41.0% | $817.4M-1.3% | $936.2M-1.3% | $993.9M+6.0% | $746.8M+11.3% | $828.1M+47.2% |
| Cash & Equivalents | $211.2M-0.8% | $208.9M-55.4% | $253.2M+35.2% | $231.7M+9.9% | $212.8M-40.9% | $467.9M+13.4% | $187.3M-48.5% | $210.9M-35.1% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $126.7M-14.7% | $136.6M-0.8% | $132.1M-26.3% | $130.8M-28.5% | $148.6M-2.3% | $137.7M-26.2% | $179.2M+18.9% | $182.9M+21.5% |
| Accounts Receivable | $43.7M+7.1% | $46.4M+15.5% | $44.2M+53.7% | $35.8M+39.6% | $40.8M+66.8% | $40.2M+12.4% | $28.8M+2.7% | $25.6M+20.4% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | N/A | N/A | N/A | N/A | $0-100.0% | $13.2M0.0% | $13.2M0.0% | $13.2M0.0% |
| Total Liabilities | $10.7B+15.8% | $10.2B+18.8% | $9.9B+29.8% | $9.5B+36.5% | $9.2B+42.8% | $8.6B+45.6% | $7.6B+55.2% | $7.0B+62.7% |
| Current Liabilities | $1.3B+20.9% | $1.1B+21.9% | $1.1B+87.4% | $1.1B+108.8% | $1.1B+102.1% | $868.8M+89.7% | $580.5M+49.7% | $528.0M+52.8% |
| Non-Current Liabilities | $9.3B+15.1% | $9.1B+18.5% | $8.8B+25.0% | $8.4B+30.6% | $8.1B+37.4% | $7.7B+41.9% | $7.0B+55.6% | $6.4B+63.5% |
| Long-Term Debt | $8.1B+15.7% | $7.9B+17.9% | $7.6B+24.8% | $7.3B+29.4% | $7.0B+35.3% | $6.7B+39.6% | $6.1B+53.6% | $5.6B+62.4% |
| Total Equity | $1.8B+20.0% | $1.8B+14.2% | $1.7B+25.4% | $1.6B+25.4% | $1.5B+19.9% | $1.6B+25.0% | $1.4B+6.9% | $1.3B+3.7% |
| Retained Earnings | $46.6Mn/m | -$1.6Mn/m | -$32.4Mn/m | -$163.0Mn/m | -$228.6Mn/m | -$191.5Mn/m | -$272.2Mn/m | -$367.0Mn/m |
NOVAQ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$70.9Mn/m | -$94.2Mn/m | -$80.1Mn/m | -$65.6Mn/m | -$42.8Mn/m | -$12.2Mn/m | -$13.2Mn/m | -$169.3Mn/m |
| Depreciation & Amortization | $70.9M+34.1% | $67.2M+41.4% | $63.4M+48.9% | $58.3M+45.7% | $52.9M+42.6% | $47.5M+36.1% | $42.6M+27.6% | $40.0M+24.9% |
| Stock-Based Compensation | N/A | N/A | N/A | $13.6M+42.8% | N/A | N/A | N/A | $9.5M-12.4% |
| Capital Expenditures | $313.6M-39.4% | $464.8M-18.0% | $465.7M+1.5% | $398.8M+37.8% | $517.5M+124.4% | $567.0M+120.5% | $458.9M+89.4% | $289.3M+109.4% |
| Free Cash Flow | -$384.5Mn/m | -$559.0Mn/m | -$545.8Mn/m | -$464.4Mn/m | -$560.3Mn/m | -$579.3Mn/m | -$472.1Mn/m | -$458.6Mn/m |
| Investing Cash Flow | -$263.1Mn/m | -$469.2Mn/m | -$424.8Mn/m | -$458.7Mn/m | -$652.9Mn/m | -$717.8Mn/m | -$649.6Mn/m | -$524.3Mn/m |
| Financing Cash Flow | $408.1M-12.2% | $407.0M-61.2% | $647.8M0.0% | $517.4M-9.0% | $465.0M-23.0% | $1.0B+25.4% | $647.9M+0.4% | $568.9M+48.6% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
NOVAQ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -19.6%+30.2pp | -22.3%-3.0pp | -26.8%+9.1pp | -52.3%-22.2pp | -49.8%-41.2pp | -19.3%-0.7pp | -35.9%-34.1pp | -30.2% |
| Net Margin | -63.5%+33.1pp | -52.1%-20.3pp | -15.0%+36.7pp | -43.5%+6.7pp | -96.6%-85.9pp | -31.8%+11.4pp | -51.7%-23.8pp | -50.1%+3.2pp |
| Return on Equity | -7.8%+4.5pp | -6.9%-2.8pp | -1.9%+4.3pp | -4.4%+2.0pp | -12.3%-10.6pp | -4.0%+1.1pp | -6.2%-3.0pp | -6.3%-3.5pp |
| Return on Assets | -1.1%+0.6pp | -0.9%-0.4pp | -0.3%+0.6pp | -0.6%+0.3pp | -1.7%-1.4pp | -0.6%+0.2pp | -0.9%-0.3pp | -0.9%-0.3pp |
| Current Ratio | 0.78-0.1x | 0.86-0.3x | 0.97-0.3x | 0.74-0.8x | 0.85-0.9x | 1.14-0.9x | 1.29-0.4x | 1.57-0.1x |
| Debt-to-Equity | 4.44-0.2x | 4.45+0.1x | 4.390.0x | 4.53+0.1x | 4.60+0.5x | 4.31+0.5x | 4.41+1.3x | 4.40+1.6x |
| Liabilities-to-Equity | 5.82-0.2x | 5.73+0.2x | 5.67+0.2x | 5.92+0.5x | 6.03+1.0x | 5.51+0.8x | 5.48+1.7x | 5.44+2.0x |
| Asset Turnover | 0.020.0x | 0.020.0x | 0.020.0x | 0.010.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x |
| FCF Margin | -171.6% | -237.6% | -248.5% | -288.6% | -288.5% | -292.0% | -283.7% | -283.6% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Note: The current ratio is below 1.0 (0.78), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| SUNNOVA ENERGY INTL INC NOVAQ | FY2024 | $839.9M | -$367.9M | -43.8% | $13K | — |
| SINGLEPOINT INC SING | FY2024 | $20.3M | -$28.9M | N/A | $8K | — |
Where SUNNOVA ENERGY INTL INC Ranks
Frequently Asked Questions
What is SUNNOVA ENERGY INTL INC's annual revenue?
SUNNOVA ENERGY INTL INC (NOVAQ) reported $839.9M in total revenue for fiscal year 2024. This represents a 16.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is SUNNOVA ENERGY INTL INC's revenue growing?
SUNNOVA ENERGY INTL INC (NOVAQ) revenue grew by 16.6% year-over-year, from $720.7M to $839.9M in fiscal year 2024.
Is SUNNOVA ENERGY INTL INC profitable?
No, SUNNOVA ENERGY INTL INC (NOVAQ) reported a net loss of $367.9M in fiscal year 2024, with a net profit margin of -43.8%.
What is SUNNOVA ENERGY INTL INC's EBITDA?
SUNNOVA ENERGY INTL INC (NOVAQ) had EBITDA of $20.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does SUNNOVA ENERGY INTL INC have?
As of fiscal year 2024, SUNNOVA ENERGY INTL INC (NOVAQ) had $211.2M in cash and equivalents against $8.1B in long-term debt.
What is SUNNOVA ENERGY INTL INC's operating margin?
SUNNOVA ENERGY INTL INC (NOVAQ) had an operating margin of -28.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is SUNNOVA ENERGY INTL INC's net profit margin?
SUNNOVA ENERGY INTL INC (NOVAQ) had a net profit margin of -43.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is SUNNOVA ENERGY INTL INC's return on equity (ROE)?
SUNNOVA ENERGY INTL INC (NOVAQ) has a return on equity of -20.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is SUNNOVA ENERGY INTL INC's free cash flow?
SUNNOVA ENERGY INTL INC (NOVAQ) recorded an outflow of $2.0B in free cash flow during fiscal year 2024. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is SUNNOVA ENERGY INTL INC's operating cash flow?
SUNNOVA ENERGY INTL INC (NOVAQ) recorded an outflow of $310.8M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are SUNNOVA ENERGY INTL INC's total assets?
SUNNOVA ENERGY INTL INC (NOVAQ) had $13.4B in total assets as of fiscal year 2024, including both current and long-term assets.
What are SUNNOVA ENERGY INTL INC's capital expenditures?
SUNNOVA ENERGY INTL INC (NOVAQ) invested $1.6B in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is SUNNOVA ENERGY INTL INC's current ratio?
SUNNOVA ENERGY INTL INC (NOVAQ) had a current ratio of 0.78 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is SUNNOVA ENERGY INTL INC's debt-to-equity ratio?
SUNNOVA ENERGY INTL INC (NOVAQ) had a debt-to-equity ratio of 4.44 as of fiscal year 2024. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is SUNNOVA ENERGY INTL INC's liabilities-to-equity ratio?
SUNNOVA ENERGY INTL INC (NOVAQ) had a liabilities-to-equity ratio of 5.82 as of fiscal year 2024, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is SUNNOVA ENERGY INTL INC's return on assets (ROA)?
SUNNOVA ENERGY INTL INC (NOVAQ) had a return on assets of -2.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
How does SUNNOVA ENERGY INTL INC's liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, SUNNOVA ENERGY INTL INC (NOVAQ) held $211.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $310.8M over that year. Dividing the one by the other, the reported balance equals about 8 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is SUNNOVA ENERGY INTL INC's Altman Z-Score?
SUNNOVA ENERGY INTL INC (NOVAQ) has an Altman Z-Score of -0.02, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is SUNNOVA ENERGY INTL INC's Piotroski F-Score?
SUNNOVA ENERGY INTL INC (NOVAQ) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are SUNNOVA ENERGY INTL INC's earnings high quality?
SUNNOVA ENERGY INTL INC (NOVAQ) reported a net loss of $367.9M while operations used $310.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can SUNNOVA ENERGY INTL INC cover its interest payments?
SUNNOVA ENERGY INTL INC (NOVAQ) reported an operating loss of $239.5M against $491.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.