Sunrun Inc (RUN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RUN SEC filings page.
Sunrun Inc (RUN) reported $3.5B in revenue over the twelve months to Jun 30, 2026, up 63.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Sunrun’s 2025 rebound restored near-break-even earnings, but the business still finances heavy investment with substantial debt and external capital.
Operating margin improved from-181.3% in FY2024 to-4.3% in FY2025, indicating the exceptional 2024 drag did not persist. Operating cash flow likewise improved to-$421M from-$766M , but remained negative, so the earnings recovery has not yet become self-funding.
Leverage remains structurally high: debt-to-equity eased from 5.1x to 4.7x, leaving debt as a dominant financing source relative to the equity base. The 1.7x current ratio and reported liquidity equivalent to 35.2 months of the latest annual operating outflow describe better short-term coverage than the long-term capital structure.
Capital deployment exceeds internal cash generation: investing cash flow was
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Sunrun Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Sunrun Inc has an operating margin of -4.3%, meaning the company loses $4 on every $100 of revenue. This results in a profitability score of 14/100. This is up from -181.3% the prior year.
Sunrun Inc's revenue surged 45.1% year-over-year to $3.0B, reflecting rapid business expansion. This strong growth earns a score of 74/100.
Sunrun Inc has elevated debt relative to equity (D/E of 4.69), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 12/100, reflecting increased financial risk.
Sunrun Inc's current ratio of 1.66 indicates adequate short-term liquidity, earning a score of 48/100. The company can meet its near-term obligations, though with limited headroom.
Sunrun Inc generates a 0.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 24/100. This is up from -111.4% the prior year.
Sunrun Inc scores -0.02, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.9B) relative to total liabilities ($17.6B). 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.
Sunrun Inc passes 4 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, both operating efficiency signals pass.
Sunrun Inc reported $450K of net income while operations used $421.4M of cash. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.
Sunrun Inc reported an operating loss of $126.1M against $996.8M 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
Sunrun Inc generated $870.0M in revenue in Q2 2026. This represents an increase of 52.8% from the same quarter a year earlier. Against the prior quarter it is up 20.5%.
Sunrun Inc's EBITDA was $219.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 308.2% from the same quarter a year earlier. Against the prior quarter it is up 50.2%.
Sunrun Inc reported $115.2M in net income in Q2 2026. This represents a decrease of 58.8% from the same quarter a year earlier. Against the prior quarter it is down 31.3%.
Sunrun Inc earned $0.42 per diluted share (EPS) in Q2 2026. This represents a decrease of 60.7% from the same quarter a year earlier. Against the prior quarter it is down 32.3%.
Cash & Balance Sheet
Sunrun Inc held $1.1B in cash against $15.2B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Sunrun Inc's operating margin was 4.0% in Q2 2026, reflecting core business profitability. This is up 23.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.0 percentage points.
Sunrun Inc's net profit margin was 13.2% in Q2 2026, showing the share of revenue converted to profit. This is down 35.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.0 percentage points.
Sunrun Inc's ROE was 3.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 6.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.7 percentage points.
Not reported for Q2 2026.
Capital Allocation
Sunrun Inc invested $10.2M in research and development in Q2 2026. This represents an increase of 26.9% from the same quarter a year earlier. Against the prior quarter it is up 0.9%.
Not reported for Q2 2026.
Not reported for Q2 2026.
RUN 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $870.0M+52.8% | $722.2M+43.2% | $1.2B+123.5% | $724.6M+34.9% | $569.3M+8.7% | $504.3M+10.1% | $518.5M+0.4% | $537.2M-4.6% |
| R&D Expenses | $10.2M+26.9% | $10.1M+1.6% | $8.8M+0.3% | $9.3M+13.3% | $8.1M-21.3% | $10.0M-17.4% | $8.8M+14.8% | $8.2M+62.3% |
| SG&A Expenses | $92.5M+29.3% | $74.6M+29.2% | $83.2M+15.5% | $65.5M+8.2% | $71.5M+16.8% | $57.8M+12.7% | $72.0M+26.2% | $60.6M+13.8% |
| Operating Income | $34.8M+131.0% | -$43.5M+62.1% | $97.4M+103.0% | $3.7M+102.9% | -$112.2M+12.3% | -$114.9M+37.3% | -$3.3B-1548.5% | -$127.8M+90.5% |
| EBITDA | $219.4M+308.2% | $146.0M+165.5% | -$373.6M+89.8% | $177.1M+861.1% | $53.8M+250.1% | $55.0M+268.7% | -$3.7B-572.1% | $18.4M+101.5% |
| Interest Expense | $264.4M+7.0% | $263.9M+16.1% | $256.4M+9.9% | $265.8M+23.3% | $247.1M+19.3% | $227.4M+18.4% | $233.4M+28.4% | $215.6M+25.9% |
| Income Tax | -$4.0M+95.8% | $7.1M+106.4% | $40.4M+29630.9% | -$2.2M+84.3% | -$94.9M-767.0% | -$110.5M-4922.7% | $136K+108.5% | -$13.8M-146.2% |
| Net Income | $115.2M-58.8% | $167.6M+235.2% | -$345.9M+87.7% | $16.6M+119.8% | $279.8M+101.2% | $50.0M+156.9% | -$2.8B-703.6% | -$83.8M+92.2% |
| EPS (Basic) | $0.48-60.7% | $0.71+222.7% | $0.45+103.6% | $0.07+118.9% | $1.22+93.7% | $0.22+155.0% | -$12.66-691.3% | -$0.37+92.5% |
| EPS (Diluted) | $0.42-60.7% | $0.62+210.0% | $0.38+103.0% | $0.06+116.2% | $1.07+94.5% | $0.20+150.0% | -$12.66-691.3% | -$0.37+92.5% |
| Diluted Shares (Avg) | 274M+4.9% | 272M+5.6% | N/A | 267M+19.6% | 261M+2.4% | 258M+17.3% | N/A | 224M+2.9% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
RUN 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $23.4B+10.0% | $22.8B+11.7% | $22.6B+13.6% | $22.2B+0.5% | $21.2B-1.0% | $20.4B-2.2% | $19.9B-2.7% | $22.1B+10.4% |
| Current Assets | $2.2B+21.3% | $2.0B+17.9% | $2.2B+25.2% | $2.1B+29.2% | $1.8B+6.5% | $1.7B-0.2% | $1.7B-8.5% | $1.6B-16.9% |
| Cash & Equivalents | $1.1B+12.3% | $1.1B+11.3% | $1.2B+30.6% | $1.2B+14.4% | $1.0B-2.9% | $978.9M+25.0% | $947.4M-4.1% | $1.0B+6.2% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $649.9M+32.3% | $490.4M+18.3% | $501.3M+24.7% | $570.0M+66.5% | $491.1M+39.1% | $414.4M+0.6% | $402.1M-12.5% | $342.3M-48.3% |
| Accounts Receivable | $235.4M+26.2% | $232.5M+35.1% | $262.6M+53.8% | $248.3M+36.0% | $186.5M+3.7% | $172.1M+1.4% | $170.7M-0.8% | $182.5M-3.4% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | N/A | N/A | $0 | N/A | N/A | N/A | $0-100.0% | $3.1B0.0% |
| Total Liabilities | $18.2B+8.1% | $17.8B+9.4% | $17.6B+12.0% | $17.6B+16.7% | $16.8B+16.6% | $16.3B+15.7% | $15.7B+16.2% | $15.1B+16.3% |
| Current Liabilities | $1.5B+20.1% | $1.4B+7.7% | $1.3B-2.4% | $1.4B+30.2% | $1.3B+25.9% | $1.3B-0.9% | $1.3B-10.3% | $1.1B-23.3% |
| Non-Current Liabilities | $16.6B+7.2% | $16.4B+9.5% | $16.3B+13.4% | $16.2B+15.6% | $15.5B+15.9% | $15.0B+17.3% | $14.4B+19.5% | $14.0B+21.2% |
| Long-Term Debt | $15.2B+8.0% | $14.8B+9.1% | $14.7B+13.9% | $14.6B+17.5% | $14.0B+17.4% | $13.6B+21.7% | $12.9B+20.9% | $12.5B+21.6% |
| Total Equity | $3.5B+19.2% | $3.3B+27.7% | $3.1B+22.6% | $3.0B-43.5% | $2.9B-45.5% | $2.6B-49.5% | $2.6B-51.2% | $5.3B-5.9% |
| Retained Earnings | -$3.5B+10.2% | -$3.7B+13.4% | -$3.8B+10.5% | -$3.9B-168.3% | -$4.0B-185.7% | -$4.2B-178.0% | -$4.3B-198.5% | -$1.5B-35.3% |
RUN 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$186.2M+36.4% | $10.6M+110.2% | $96.9M+137.5% | -$121.5M+22.2% | -$292.7M-40.3% | -$104.2M+27.2% | -$258.4M-122.7% | -$156.2M-146.9% |
| Depreciation & Amortization | $184.6M+11.2% | $189.6M+11.6% | -$471.0M-18.9% | $173.4M+18.6% | $166.0M+15.8% | $169.9M+12.9% | -$396.0M-14.5% | $146.2M+10.1% |
| Stock-Based Compensation | $21.1M-15.7% | $26.3M+5.2% | N/A | $29.6M+9.6% | $25.1M-10.8% | $25.0M-13.4% | N/A | $27.0M-2.6% |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | $627K-86.6% | $202K-95.7% |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | -$259.0M-114.6% | -$156.4M-130.3% |
| Investing Cash Flow | -$449.2M+35.2% | -$428.6M+34.6% | -$408.9M+48.4% | -$743.6M+2.7% | -$692.8M-13.8% | -$655.0M-22.3% | -$792.4M-19.9% | -$764.4M-3.1% |
| Financing Cash Flow | $682.5M-33.0% | $270.2M-65.8% | $393.1M-60.2% | $1.0B+13.5% | $1.0B-5.4% | $790.7M+66.9% | $987.6M+21.5% | $888.9M+6.4% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
RUN 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 4.0%+23.7pp | -6.0%+16.8pp | 8.4% | 0.5%+24.3pp | -19.7%+4.7pp | -22.8%+17.2pp | -628.0% | -23.8% |
| Net Margin | 13.2%-35.9pp | 23.2%+13.3pp | -29.8% | 2.3%+17.9pp | 49.1%+22.6pp | 9.9%+29.1pp | -542.7% | -15.6% |
| Return on Equity | 3.3%-6.3pp | 5.0%+3.1pp | -11.0%+99.1pp | 0.6%+2.2pp | 9.6%+7.0pp | 1.9%+3.6pp | -110.2%-103.5pp | -1.6%+17.5pp |
| Return on Assets | 0.5%-0.8pp | 0.7%+0.5pp | -1.5%+12.6pp | 0.1%+0.4pp | 1.3%+0.7pp | 0.3%+0.7pp | -14.1%-12.4pp | -0.4%+5.0pp |
| Current Ratio | 1.420.0x | 1.45+0.1x | 1.66+0.4x | 1.460.0x | 1.41-0.3x | 1.320.0x | 1.290.0x | 1.47+0.1x |
| Debt-to-Equity | 4.34-0.5x | 4.43-0.8x | 4.69-0.4x | 4.90+2.5x | 4.80+2.6x | 5.19+3.0x | 5.05+3.0x | 2.36+0.5x |
| Asset Turnover | 0.040.0x | 0.030.0x | 0.050.0x | 0.030.0x | 0.030.0x | 0.020.0x | 0.030.0x | 0.020.0x |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | -50.0%-26.6pp | -29.1%-17.1pp |
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: Operating Margin, Net Margin.
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 |
|---|---|---|---|---|---|---|
| Sunrun Inc RUN | FY2025 | $3.0B | $450K | 0.0% | $1.9B | 30/100 |
| Enphase Energy, Inc. ENPH | FY2025 | $1.5B | $172.1M | 11.7% | $4.2B | 56/100 |
| Nextpower Inc. NXT | FY2026 | $3.6B | $585.9M | 16.5% | $13.5B | 75/100 |
| SolarEdge Technologies, Inc. SEDG | FY2025 | $1.2B | -$405.4M | -34.2% | $2.0B | 18/100 |
| Canadian Solar Inc. CSIQ | FY2025 | $5.6B | -$104.1M | -1.9% | $761.1M | 19/100 |
| Array Technologies, Inc. ARRY | FY2025 | $1.3B | -$52.2M | -4.1% | $549.8M | 34/100 |
Where Sunrun Inc Ranks
Frequently Asked Questions
What is Sunrun Inc's annual revenue?
Sunrun Inc (RUN) reported $3.0B in total revenue for fiscal year 2025. This represents a 45.1% 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 Sunrun Inc's revenue growing?
Sunrun Inc (RUN) revenue grew by 45.1% year-over-year, from $2.0B to $3.0B in fiscal year 2025.
Is Sunrun Inc profitable?
Yes, Sunrun Inc (RUN) reported a net income of $450K in fiscal year 2025, with a net profit margin of 0.0%.
What is Sunrun Inc's EBITDA?
Sunrun Inc (RUN) had EBITDA of -$87.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Sunrun Inc have?
As of fiscal year 2025, Sunrun Inc (RUN) had $1.2B in cash and equivalents against $14.7B in long-term debt.
What is Sunrun Inc's operating margin?
Sunrun Inc (RUN) had an operating margin of -4.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Sunrun Inc's net profit margin?
Sunrun Inc (RUN) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Sunrun Inc's return on equity (ROE)?
Sunrun Inc (RUN) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Sunrun Inc's operating cash flow?
Sunrun Inc (RUN) recorded an outflow of $421.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Sunrun Inc's total assets?
Sunrun Inc (RUN) had $22.6B in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Sunrun Inc spend on research and development?
Sunrun Inc (RUN) invested $36.1M in research and development during fiscal year 2025.
What is Sunrun Inc's current ratio?
Sunrun Inc (RUN) had a current ratio of 1.66 as of fiscal year 2025, which is generally considered healthy.
What is Sunrun Inc's debt-to-equity ratio?
Sunrun Inc (RUN) had a debt-to-equity ratio of 4.69 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sunrun Inc's return on assets (ROA)?
Sunrun Inc (RUN) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sunrun Inc's P/E ratio?
Sunrun Inc (RUN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $1.9B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sunrun Inc's price-to-sales ratio?
Sunrun Inc (RUN) trades at 0.5x sales, its market capitalization divided by revenue of $3.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.9B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Sunrun Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Sunrun Inc (RUN) held $1.2B in cash, cash equivalents and investments, and reported an operating cash outflow of $421.4M over that year. Dividing the one by the other, the reported balance equals about 35 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 Sunrun Inc's Altman Z-Score?
Sunrun Inc (RUN) 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 Sunrun Inc's Piotroski F-Score?
Sunrun Inc (RUN) has a Piotroski F-Score of 4 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 Sunrun Inc's earnings high quality?
Sunrun Inc (RUN) reported $450K of net income while operations used $421.4M of cash. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. 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 Sunrun Inc cover its interest payments?
Sunrun Inc (RUN) reported an operating loss of $126.1M against $996.8M 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.
How financially healthy is Sunrun Inc?
Sunrun Inc (RUN) scores 30 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.