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.
Income Statement
| Line item | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | $235.29M | $219.60M | $160.90M | - | $198.40M | $166.38M | $161.70M | - | $149.36M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | $110.68M | $111.00M | $117.11M | - | $111.55M | $101.38M | $101.26M | - | $75.90M |
| Total Operating Expenses | - | $287.78M | $278.52M | $245.13M | - | $236.61M | $226.15M | $210.48M | - | $177.09M |
| D&A | - | - | - | $50.76M | - | - | - | $32.67M | - | - |
| Operating Income | - | ($52.49M) | ($58.93M) | ($84.22M) | - | ($38.22M) | ($59.77M) | ($48.78M) | - | ($27.72M) |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | - | ($46.13M) | ($70.26M) | ($43.03M) | - | ($9.32M) | $7.18M | $510.0K | - | $0 |
| Net Income | - | ($122.59M) | ($33.05M) | ($69.96M) | - | ($63.15M) | ($86.09M) | ($81.08M) | - | ($62.05M) |
| EPS - Basic | - | ($0.98) | ($0.27) | ($0.57) | - | ($0.53) | ($0.74) | ($0.70) | - | ($0.54) |
| EPS - Diluted | - | ($0.98) | ($0.27) | ($0.57) | - | ($0.53) | ($0.74) | ($0.70) | - | ($0.54) |
Balance Sheet
| Line item | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $211.19M | $208.91M | $253.22M | $231.71M | $212.83M | $467.90M | $187.33M | $210.88M | $360.26M | $412.58M |
| Accounts Receivable | $43.67M | $46.42M | $44.20M | $35.76M | $40.77M | $40.17M | $28.76M | $25.61M | $24.43M | $35.74M |
| Inventory | $126.69M | $136.62M | $132.06M | $130.76M | $148.57M | $137.67M | $179.21M | $182.95M | $152.11M | $186.57M |
| Accounts Payable | $699.40M | $484.25M | $504.10M | $374.86M | $355.79M | $194.55M | $138.84M | $123.50M | $116.14M | $94.65M |
| Current Assets | $1.03B | $914.59M | $1.05B | $817.41M | $936.25M | $993.94M | $746.77M | $828.12M | $948.39M | $937.31M |
| Total Assets | $13.35B | $12.88B | $12.56B | $11.82B | $11.34B | $10.79B | $9.61B | $8.90B | $8.34B | $7.65B |
| Current Liabilities | $1.32B | $1.06B | $1.09B | $1.10B | $1.10B | $868.77M | $580.47M | $527.95M | $541.95M | $458.07M |
| Long-term Debt | $8.13B | $7.91B | $7.64B | $7.27B | $7.03B | $6.71B | $6.12B | $5.62B | $5.19B | $4.81B |
| Total Liabilities | $10.67B | $10.20B | $9.89B | $9.49B | $9.21B | $8.58B | $7.62B | $6.96B | $6.45B | $5.90B |
| Stockholders' Equity | $1.83B | $1.78B | $1.74B | $1.60B | $1.53B | $1.56B | $1.39B | $1.28B | $1.27B | $1.25B |
| Retained Earnings | $46.59M | ($1.57M) | ($32.39M) | ($162.97M) | ($228.58M) | ($191.51M) | ($272.19M) | ($366.97M) | ($364.78M) | ($387.07M) |
Cash Flow
| Line item | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | - | ($65.64M) | - | - | - | ($169.33M) | - | - |
| Investing Cash Flow | - | - | - | ($458.68M) | - | - | - | ($524.29M) | - | - |
| Financing Cash Flow | - | - | - | $517.44M | - | - | - | $568.87M | - | - |
| CapEx | - | - | - | $398.77M | - | - | - | $289.30M | - | - |
| Free Cash Flow | - | - | - | ($464.40M) | - | - | - | ($458.62M) | - | - |
Ratios
| Metric | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | -22.3% | -26.8% | -52.3% | - | -19.3% | -35.9% | -30.2% | - | -18.6% |
| EBITDA margin | - | - | - | -20.8% | - | - | - | -10.0% | - | - |
| Net margin | - | -52.1% | -15.1% | -43.5% | - | -31.8% | -51.7% | -50.1% | - | -41.5% |
| Free cash flow margin | - | - | - | -288.6% | - | - | - | -283.6% | - | - |
| FCF / Net income | - | - | - | 6.64 | - | - | - | 5.66 | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | 47.0% | 50.5% | 72.8% | - | 56.2% | 60.9% | 62.6% | - | 50.8% |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | - | -1.0% | -0.3% | -0.6% | - | -0.6% | -0.9% | -0.9% | - | -0.8% |
| Return on equity | - | -6.9% | -1.9% | -4.4% | - | -4.1% | -6.2% | -6.3% | - | -5.0% |
| Return on invested capital | - | -0.4% | -0.5% | -0.7% | - | -0.4% | -0.6% | -0.6% | - | -0.4% |
| Liquidity | ||||||||||
| Current ratio | 0.78 | 0.86 | 0.97 | 0.74 | 0.85 | 1.14 | 1.29 | 1.57 | 1.75 | 2.05 |
| Quick ratio | 0.68 | 0.73 | 0.85 | 0.62 | 0.72 | 0.99 | 0.98 | 1.22 | 1.47 | 1.64 |
| Cash ratio | 0.16 | 0.20 | 0.23 | 0.21 | 0.19 | 0.54 | 0.32 | 0.40 | 0.66 | 0.90 |
| Leverage | ||||||||||
| Debt / Equity | 4.44 | 4.45 | 4.39 | 4.53 | 4.60 | 4.31 | 4.41 | 4.40 | 4.08 | 3.86 |
| Debt / Assets | 0.61 | 0.61 | 0.61 | 0.62 | 0.62 | 0.62 | 0.64 | 0.63 | 0.62 | 0.63 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 7.29 | 7.24 | 7.21 | 7.37 | 7.43 | 6.92 | 6.91 | 6.96 | 6.55 | 6.14 |
| Liabilities / Assets | 0.80 | 0.79 | 0.79 | 0.80 | 0.81 | 0.80 | 0.79 | 0.78 | 0.77 | 0.77 |
| Efficiency | ||||||||||
| Asset turnover | - | 0.02 | 0.02 | 0.01 | - | 0.02 | 0.02 | 0.02 | - | 0.02 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | 72d | 73d | 81d | - | 74d | 63d | 58d | - | 87d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | 18.6% | 32.0% | -0.5% | - | 32.8% | 13.2% | 146.0% | - | 116.8% |
| Revenue CAGR (3y) | - | 50.6% | 48.9% | 57.4% | - | 58.1% | 57.2% | 75.7% | - | 69.9% |
| Revenue CAGR (5y) | - | 50.5% | 50.0% | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | -37.3% | 1.4% | -72.7% | - | -37.9% | -2088.6% | -42.6% | - | -239.1% |
| Net income growth (YoY) | - | -94.1% | 61.6% | 13.7% | - | -1.8% | -132.7% | -141.4% | - | -125.3% |
| EPS growth (YoY) | - | -84.9% | 63.5% | 18.6% | - | 1.9% | -131.3% | -133.3% | - | 26.0% |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | -1.3% | - | - | - | -99.1% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 20.0% | 14.2% | 25.4% | 25.4% | 19.9% | 25.0% | 6.9% | 3.7% | 7.0% | 13.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2024-12-31.
Business segments
$839.92M totalReportable Segment$839.92M · 100.0%
Product / service
$2.97B totalInvestment 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%
Peer comparison
Same SIC group: Electric & Other Services Combined
Comparing Sunnova Energy International Inc. against the 5 most active filers in the same SIC group.