Sunrun
Provides residential solar-and-battery subscriptions and aggregated home-to-grid power plants.
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Profile
Designs, installs, finances and services U.S. residential solar and battery systems through leases, power-purchase agreements and direct sales. Long-lived Customer Agreements generate recurring payments, while batteries support home-to-grid power plants; funding relies on tax equity, project finance and policy incentives.
Designs, installs, finances, owns, monitors, maintains and sells residential solar and battery systems across the United States. Most customers use long-term Customer Agreements—leases or power-purchase agreements—while others buy systems; recurring contract payments and incentives sit alongside energy-system and product sales. Battery storage also supplies backup and energy management, while aggregated systems participate in home-to-grid power plants.
Combines direct sales and installation with energy-system, sales, installation and strategic partners, supported by software and operating processes for design, pricing, fulfillment and service. The storage-first strategy expands battery deployment and grid services across the installed solar base.
Depends on tax equity, non-recourse debt and project equity, plus federal incentives and utility interconnection and net-metering rules. Equipment comes from a limited supplier base, while Customer Agreements carry decades-long monitoring, maintenance, insurance and performance-support obligations.
Company facts
Categories
Key statistics
Year to date −54.9% · Average volume (30d) 8.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 14, 2026 | Wells Fargo | Reiterate | Overweight | $31 | $17 |
| Aug 6, 2026 | Mizuho Securities | Target | $13 | $18 | |
| Aug 6, 2026 | RBC Capital | Reiterate | Outperform | $15 | $14 |
| Aug 6, 2026 | Goldman Sachs | Reiterate | Buy | $18 | $15 |
| Aug 6, 2026 | Oppenheimer | Reiterate | Outperform | $67 | $20 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.23 | $0.42 | +86.3% | $746.9M | $870.0M | +16.5% | −10.58% |
| May 6, 2026Q1 FY26 | −$0.05 | $0.62 | +1,340.0% | $657.9M | $722.2M | +9.8% | +7.56% |
| Feb 26, 2026Q4 FY25 | −$0.08 | $0.38 | +575.0% | $607.0M | $1.16B | +90.9% | −35.11% |
| Nov 6, 2025Q3 FY25 | $0.01 | $0.06 | +500.0% | $610.3M | $724.6M | +18.7% | −16.11% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $504.3M | $569.3M | $724.6M | $1.16B | $722.2M | $870.0M | |
| Gross profit | $98.8M | $94.4M | $243.3M | $409.1M | $219.8M | $328.2M | |
| Operating income | −$114.9M | −$114.3M | $3.7M | $97.4M | −$43.5M | $34.8M | |
| Net income | $50.0M | $280.4M | $16.6M | $103.6M | $167.6M | −$208.2M | |
| Diluted EPS | $0.20 | $1.07 | $0.06 | $0.38 | $0.62 | $0.42 | |
| Gross margin | 19.6% | 16.6% | 33.6% | 35.3% | 30.4% | 37.7% | |
| Operating margin | -22.8% | -20.1% | 0.5% | 8.4% | -6.0% | 4.0% |
Fiscal years (4-quarter sums)FY21 $1.61B · FY22 $2.32B · FY23 $2.26B · FY24 $2.04B · FY25 $2.96B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $712.4M · Total debt $15.21B · Total assets $23.36B · Shareholders' equity $3.49B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 238.55M · Float 230.12M · 96.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 41.37M | 17.34% | 13F | Aug 7, 2026 |
| Goldman Sachs Group Inc | 19.19M | 8.04% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 13.68M | 5.73% | 13F | Aug 13, 2026 |
| Greenvale Capital LLP | 13.30M | 5.58% | 13F | Aug 14, 2026 |
| Point72 Asset Management, L.P. | 11.50M | 5.00% | 13G | Jun 27, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 3, 2026 | Lynn Michelle Jurich | director | −50,000 | $9.96 |
| Jul 9, 2026 | Maria Barak | officer: Chief Accounting Officer | −3,278 | $12.17 |
| Jul 6, 2026 | Danny Abajian | officer: Chief Financial Officer | −16,495 | $13.19 |
| Jul 6, 2026 | Maria Barak | officer: Chief Accounting Officer | −1,747 | $13.17 |
| Jul 6, 2026 | Paul S. Dickson | officer: Pres. & Chief Revenue Officer | −15,613 | $13.18 |
Peers
- Tesla
Powerwall, solar leases, and VPP software overlap with home energy plans
- SunPower
Residential installer footprint contests solar subscriptions and cash sales
- Enphase Energy
IQ microinverters and batteries contest whole-home solar storage design
- SolarEdge Technologies
Home inverters, batteries, backup, and EV charging overlap in solar design
- Generac
PWRcell, microinverters, ecobee, and grid services target backup value
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sunrun | $8.80 | +0.27% | $2.09B | 5.9 | 13.7 | 0.6 | +52.8% |
| Tesla | $348.19 | −0.16% | $1.38T | 322.9 | 174.6 | 13.3 | +25.5% |
| SunPower | $0.3033 | +4.01% | $49.7M | — | — | 0.2 | −17.1% |
| Enphase Energy | $37.35 | +0.24% | $4.92B | 37.3 | 19.0 | 3.7 | −19.6% |
| SolarEdge Technologies | $31.18 | −0.80% | $1.91B | — | 81.2 | 1.4 | +19.6% |
| Generac | $185.00 | +0.65% | $10.82B | 42.4 | 18.2 | 2.4 | +10.6% |
| Median | 42.4 | 50.1 | 2.4 | +10.6% |