NOVA · Sunnova Energy International Inc. - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Annual Quarterly

Income Statement

Line item	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Revenue	$839.92M	$720.65M	$557.69M	$241.75M	$160.82M	$76.86M
Cost of Revenue	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-
R&D	-	-	-	-	-	-
SG&A	$458.98M	$430.42M	$302.00M	$204.24M	$115.15M	$54.86M
Total Operating Expenses	$1.08B	$964.09M	$639.19M	$296.64M	$196.60M	$87.21M
D&A	$229.01M	$153.39M	$108.17M	$85.60M	$66.07M	$29.48M
Operating Income	($239.54M)	($243.44M)	($81.50M)	($54.89M)	($35.78M)	($10.36M)
Interest Expense	-	-	-	$116.25M	$154.58M	$59.85M
Income Tax	($144.51M)	($1.02M)	$3.89M	$260.0K	$181.0K	$0
Net Income	($367.89M)	($417.96M)	($161.64M)	($138.13M)	($252.28M)	($91.08M)
EPS - Basic	($2.96)	($3.53)	($1.41)	($2.87)	-	-
EPS - Diluted	($2.96)	($3.53)	($1.41)	($2.87)	-	-

Balance Sheet

Line item	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Cash & Equivalents	$211.19M	$212.83M	$360.26M	$391.90M	$377.89M	$49.98M
Accounts Receivable	$43.67M	$40.77M	$24.43M	$18.58M	$10.24M	$10.67M
Inventory	$126.69M	$148.57M	$152.11M	$127.95M	$102.59M	$43.75M
Accounts Payable	$699.40M	$355.79M	$116.14M	$55.03M	$39.91M	$36.19M
Current Assets	$1.03B	$936.25M	$948.39M	$615.74M	$456.65M	$274.32M
Total Assets	$13.35B	$11.34B	$8.34B	$5.50B	$3.59B	$2.49B
Current Liabilities	$1.32B	$1.10B	$541.95M	$310.90M	$210.85M	$195.00M
Long-term Debt	$8.13B	$7.03B	$5.19B	$3.14B	$1.92B	$1.35B
Total Liabilities	$10.67B	$9.21B	$6.45B	$3.88B	$2.31B	$1.67B
Stockholders' Equity	$1.83B	$1.53B	$1.27B	$1.19B	$951.73M	$325.47M
Retained Earnings	$46.59M	($228.58M)	($364.78M)	($459.71M)	($531.00M)	($361.82M)

Cash Flow

Line item	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Operating Cash Flow	($310.85M)	($237.56M)	($333.43M)	($209.23M)	($131.47M)	($48.97M)
Investing Cash Flow	($1.62B)	($2.54B)	($1.98B)	($1.24B)	($829.52M)	($289.13M)
Financing Cash Flow	$1.98B	$2.73B	$2.47B	$1.46B	$1.19B	$369.89M
CapEx	$1.64B	$1.83B	$868.21M	$554.54M	$578.37M	$240.58M
Free Cash Flow	($1.95B)	($2.07B)	($1.20B)	($763.77M)	($709.84M)	($289.55M)

Ratios

Metric	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Profitability
Gross margin	-	-	-	-	-	-
Operating margin	-28.5%	-33.8%	-14.6%	-22.7%	-22.2%	-13.5%
EBITDA margin	-1.3%	-12.5%	4.8%	12.7%	18.8%	24.9%
Net margin	-43.8%	-58.0%	-29.0%	-57.1%	-156.9%	-118.5%
Free cash flow margin	-232.6%	-287.3%	-215.5%	-315.9%	-441.4%	-376.7%
FCF / Net income	5.31	4.95	7.43	5.53	2.81	3.18
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	54.6%	59.7%	54.2%	84.5%	71.6%	71.4%
Effective tax rate	-	-	-	-	-	-
Return on assets	-2.8%	-3.7%	-1.9%	-2.5%	-7.0%	-3.7%
Return on equity	-20.1%	-27.4%	-12.7%	-11.6%	-26.5%	-28.0%
Return on invested capital	-1.9%	-2.2%	-1.0%	-1.0%	-1.0%	-0.5%
Liquidity
Current ratio	0.78	0.85	1.75	1.98	2.17	1.41
Quick ratio	0.68	0.72	1.47	1.57	1.68	1.18
Cash ratio	0.16	0.19	0.66	1.26	1.79	0.26
Leverage
Debt / Equity	4.44	4.60	4.08	2.64	2.02	4.14
Debt / Assets	0.61	0.62	0.62	0.57	0.54	0.54
Debt / EBITDA	-	-	194.83	102.11	63.55	70.39
Interest coverage	-	-	-	-0.5x	-0.2x	-0.2x
Equity multiplier	7.29	7.43	6.55	4.63	3.77	7.64
Liabilities / Assets	0.80	0.81	0.77	0.71	0.64	0.67
Efficiency
Asset turnover	0.06	0.06	0.07	0.04	0.04	0.03
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	19d	21d	16d	28d	23d	51d
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	-	-	-	-	-	-
P / B	-	-	-	-	-	-
P / S	-	-	-	-	-	-
EV / EBITDA	-	-	-	-	-	-
Growth
Revenue growth (YoY)	16.6%	29.2%	130.7%	50.3%	109.2%	-
Revenue CAGR (3y)	51.5%	64.9%	93.6%	-	-	-
Revenue CAGR (5y)	61.3%	-	-	-	-	-
Gross profit growth (YoY)	-	-	-	-	-	-
Operating income growth (YoY)	1.6%	-198.7%	-48.5%	-53.4%	-245.5%	-
Net income growth (YoY)	12.0%	-158.6%	-17.0%	45.2%	-177.0%	-
EPS growth (YoY)	16.1%	-150.4%	50.9%	-	-	-
EPS CAGR (3y)	-	-	-	-	-	-
EPS CAGR (5y)	-	-	-	-	-	-
FCF growth (YoY)	5.6%	-72.3%	-57.3%	-7.6%	-145.2%	-
FCF CAGR (5y)	-	-	-	-	-	-
Book value growth (YoY)	20.0%	19.9%	7.0%	25.0%	192.4%	-

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2024-12-31.

Business segments

$839.92M total

Reportable Segment$839.92M · 100.0%

Product / service

$2.97B total

Investment Tax Credits$645.52M · 21.7%

Investment Tax Credits Sales Related To Tax Equity Partnerships$616.32M · 20.7%

Customer Agreements And Incentives$541.53M · 18.2%

Solar Energy Systems And Product Sales$298.39M · 10.0%

Lease Revenue$239.02M · 8.0%

Power Purchase Agreement PPA$175.59M · 5.9%

Cash Sales Revenue$142.79M · 4.8%

Inventory Sales Revenue$106.26M · 3.6%

Solar Renewable Energy Certificate Revenue$58.57M · 2.0%

Direct Sales Revenue$49.35M · 1.7%

Easy Own Program Revenue$47.94M · 1.6%

Investment Tax Credits Sales Unrelated To Tax Equity Partnerships$29.20M · 1.0%

Service Revenue$11.79M · 0.4%

Other Revenue$8.63M · 0.3%

Stability scores

Altman Z′

FY 2024 · bankruptcy risk

0.07

Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2024 · 9-point quality

2/9

Weak

✗Net income positive
✗Operating cash flow positive
✓ROA improved YoY
✓Cash flow > net income
✗Long-term debt decreased
✗Current ratio improved
✗No share dilution
-Gross margin improved
✗Asset turnover improved

Peer comparison

Same SIC group: Electric & Other Services Combined

Company	Revenue (last FY)	Net margin	ROE
ED	$17.05B	11.9%	8.4%
AVA	$1.96B	9.8%	7.1%
DUK	-	-	9.6%
WEC	$9.80B	15.9%	11.1%
XEL	-	-	8.5%

Comparing Sunnova Energy International Inc. against the 5 most active filers in the same SIC group.