Company name:
Sunrun Inc
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IPO SHARE PRICE:$14.00
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IPO DATE:August 05, 2015
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TICKER:RUN
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MAIN STOCK EXCHANGE:NASDAQ
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CURRENT HQ LOCATION:225 Bush Street Suite 1400 San Francisco California 94104
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FISCAL YEAR END:December 31
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INCORPORATION JURISDICTION:DE
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ORGANIZED AS THE FOLLOWING LEGAL TYPE:Corporation
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Investor Relations Webpage:Coming soon!
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TAX RATE:USA federal corporate nominal income tax rate is 21%
Short Description
Sunrun Inc
We are working hard and as soon as possible to provide company description soon. Feel free to reach out to request it sooner: improve@real-clear-investing.com
Income Statement
(USD in thousand)
Selected Quarter:
31-Dec
2020
2020
Revenue
Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers
100%
51.3% —
Customer agreements and incentives
48.7% —
Solar energy systems and product sales
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| Customer agreements and incentives | 99,850 | 92,439 | 96,249 | 99,297 | 99,124 | 106,095 | 114,485 | 164,456 | 484,160 | 657,824 | ||||||||||||||||
| Operating leases and incentives | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||
| Solar energy systems and product sales | 94,654 | 112,156 | 119,293 | 144,640 | 111,607 | 75,199 | 95,275 | 155,950 | 438,031 | 623,800 | ||||||||||||||||
| Total Revenue | $194,504 | $204,595 | $215,542 | $243,937 | $210,731 | $181,294 | $209,760 | $320,406 | $922,191 | $1,281,624 |
Selected Quarter:
31-Dec
2020
2020
Operating expenses
Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells
180.0%
48.4% —
General and administrative
45.8% —
Cost of customer agreements and incentives
44.2% —
Sales and marketing
39.6% —
Cost of solar energy systems and product sales
1.7% —
Research and development
0.4% —
Amortization
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Cost of customer agreements and incentives
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69,493 | 70,594 | 67,359 | 72,898 | 78,277 | 83,422 | 77,350 | 146,601 | 385,650 | 586,404 | ||||||||||||||||
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Cost of operating leases and incentives
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- | - | - | - | - | - | - | - | - | - | ||||||||||||||||
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Cost of solar energy systems and product sales
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77,799 | 86,348 | 92,031 | 109,307 | 91,598 | 63,746 | 75,679 | 126,853 | 357,876 | 507,412 | ||||||||||||||||
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Sales and marketing
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55,953 | 70,038 | 77,478 | 71,679 | 70,270 | 69,701 | 70,720 | 141,608 | 352,299 | 566,432 | ||||||||||||||||
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Research and development
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5,474 | 6,555 | 6,435 | 5,099 | 4,046 | 4,971 | 5,205 | 5,326 | 19,548 | 21,304 | ||||||||||||||||
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General and administrative
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29,063 | 33,044 | 31,059 | 31,857 | 28,074 | 41,756 | 41,829 | 155,087 | 266,746 | 620,348 | ||||||||||||||||
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Amortization
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893 | 814 | 1,524 | 1,524 | 1,483 | 1,167 | 1,167 | 1,363 | 5,180 | 5,452 | ||||||||||||||||
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Other expenses
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- | 1,388 | - | - | - | 148 | - | - | - | - | ||||||||||||||||
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Total operating expenses
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238,675 | 267,393 | 275,886 | 292,364 | 273,748 | 264,763 | 271,950 | 576,838 | 1,387,299 | 2,307,352 |
Selected Quarter:
31-Dec
2020
2020
Operating Income
Income after excluding Operating Expenses from Total Revenue
80.0%
80.0% —
Operating Income
Key metric that shows earnings potential of the company's business model
Selected Quarter:
31-Dec
2020
2020
Non-operating expenses
Cost usually unrelated to delivering service or manufacturing a product that business sells
2.8%
2.8% —
Other expense or income
Selected Quarter:
31-Dec
2020
2020
Earnings before Interest and Taxes (EBIT)
Income after excluding Operating and Non-operating Expenses from Total Revenue
77.2%
77.2% —
EBIT
Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory
Selected Quarter:
31-Dec
2020
2020
Interest Expense and Income, Taxes
Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure
110.0%
9.4% —
Income tax expense or benefit
119.4% —
Interest expense
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Interest expense
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41,340 | 42,309 | 43,911 | (301,806) | 49,924 | 50,721 | 51,368 | (382,614) | (230,601) | (1,530,456) | ||||||||||||||||
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Income before income taxes
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(90,267) | (106,495) | (107,365) | (95,113) | (112,891) | (134,338) | (112,694) | (327,598) | (687,521) | (1,310,392) | ||||||||||||||||
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Income tax expense or benefit TEST - ODD
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(3,361) | (1,910) | 5,169 | (8,116) | (3,342) | 211 | (27,293) | (30,149) | (60,573) | (120,596) |
Selected Quarter:
31-Dec
2020
2020
Net income (loss)
Ultimate measure of Income - Net result after excluding all expenses from Total Revenue
52.8%
52.8% —
Net income (loss)
It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders
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Net income (loss)
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($86,906) | ($104,585) | ($112,534) | ($86,997) | ($109,549) | ($134,549) | ($85,401) | - | ($626,948) | - | ||||||||||||||||
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Net income (loss) attributable to redeemable non-controlling interests
Net income (loss) attributable to redeemable non-controlling interests
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(73,044) | (103,292) | (141,524) | (99,497) | (81,590) | (120,987) | (122,848) | (128,129) | (453,554) | (512,516) | ||||||||||||||||
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Net income (loss) attributable to common stock
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(13,862) | (1,293) | 28,990 | 12,500 | (27,959) | (13,562) | 37,447 | (169,320) | (173,394) | (677,280) | ||||||||||||||||
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Convertible Preferred stock deemed dividend
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- | - | - | - | - | - | - | - | - | - | ||||||||||||||||
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Net income attributable to participating securities
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- | - | - | - | - | - | - | - | - | - |
Basic Shares Outstanding
Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective
Selected Quarter:
31-Dec
2020
2020
EPS
Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)