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NASDAQ · MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES · LARGE CAP

Sunrun Inc. RUN

13 fiscal years on record · USD · FY2025 reported · SEC filings only
$3.0B
▲ 45.1% YoY
$449.9M
In brief

What this company does

Sunrun Inc. is engaged in the design, development, installation, sale, ownership and maintenance of residential energy systems in the United States. As of December 31, 2025, it had approximately 9,059 full-time employees, inclusive of its active direct-to-home salesforce. It has a Networked Solar Energy Capacity of 8,404 megawatts as of December 31, 2025, representing the aggregate megawatt production capacity of its energy systems recognized as deployments from inception through the measurement date. Customers can access its products through three channels: direct-to-consumer, energy system partnerships and strategic partnerships. Through its direct-to-consumer channel, the company sells storage and solar service offerings and installs energy systems for customers. Through energy system partnerships, it contracts with organizations that act as exclusive or non-exclusive distributors of its residential energy systems service offerings and as subcontractors for the installation of the related energy systems. Its strategic partnerships encompass relationships with new market entrants not previously engaged in solar or energy storage, including consumer marketing, retail and specialized energy retail companies. The company has operated since its inception in 2007 and acquired Vivint Solar on October 8, 2020.

Written from the business description in Sunrun Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 3.0B
Revenue, FY2025 · full 13-year series below
Revenue $B Net income $B
FY2025 · Revenue 3.0 · Net income 0.4
1B2B-1B-2B2013201520172019202120232025
Compound annual growth
+8.4%
+26.2%
+25.5%
+37.4%
+28.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +26.2% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−34 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -4.3% · Net -34.1%
-100%-200%2013201520172019202120232025
ROE
FY2025 · ROE 15.8%
5%10%15%-20%-40%-60%2013201520172019202120232025
Gross margin—
Operating margin-4.3%
Net margin-34.1%
Return on assets-4.7%
EBITDAUSD -87.8M

Each USD of equity produced 16 cents of profit this year.

Cash & shareholders
—
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2024 · FCF -767.7
-400M-800M2013201520172019202120232025
Net buybacks $M Dividends $M
FY2021 · Dividends — · Net buybacks -36.1
-25.0M-50.0M20172018201920202021
Dividends paid—
Net buybacks—
Share of profit—
Consecutive raises—

Total assetsUSD 22.6B
EquityUSD 3.1B
CashUSD 1.2B
Gross debtUSD 14.7B
Net debtUSD 13.5B
Current ratio1.66×

Net debt stands at 430% of equity.

The 13-year record
13 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013
Revenue $B3.02.02.32.31.60.90.90.80.50.50.30.20.1
Operating income $B−0.1−3.7−2.0−0.7−0.7−0.5−0.2−0.1−0.2−0.2−0.2−0.1−0.1
EBITDA $B−0.1−3.7−1.9−0.6−0.6−0.4−0.2−0.1−0.2−0.2−0.2−0.1−0.1
Income tax $B−0.2−0.0−0.00.00.0−0.1−0.00.00.00.1−0.0−0.0−0.0
Net income $B0.4−2.8−1.60.2−0.1−0.20.00.00.10.1−0.0−0.1−0.0
Free cash flow $B·−0.8−0.8−0.9−0.8−0.3−0.2−0.1−0.1−0.2−0.1−0.00.0
EPS, diluted $1.71−12.81−7.410.80−0.39−1.240.210.231.160.72−0.96−3.11−0.12
Dividend / sh $·············
Payout %·············
ROE %15.8−73.1−26.92.7−1.3−4.92.82.916.112.2−6.4−21.8·
Shares out B0.230.230.220.210.210.200.120.110.100.100.100.02·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 50 reconciliationsAUDITED

Reconciled in 13 of 19 fiscal years. 41 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityMiscellaneous Electrical Machinery, Equipment & Supplies
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2013

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