RUN
Sunrun Inc.

Sunrun Inc.RUN

Technology · Solar
9.98USD
+1.11%
Nov 08, 2026
RUN overview ready
Residential Solar and Battery System Provider Driving U.S. Homeowner Energy Transition
Sunrun is a residential solar-and-battery owner/operator and service provider that aggregates installed home batteries into dispatchable virtual-power-plant capacity for utilities and grid programs.
Primary theme is improving
Solar is improving (+15.0pp vs SPY over 21 sessions; 8 of 11 members ahead of SPY).
Price trend is broken
Longer-term context reads early recovery, with a near-term setup of reclaim attempt.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Low free cash flow yield
Free cash flow yield is weak.
Primary risk
Regulatory and policy changes affecting solar incentives.
Market Nov 6Filing Sep 30Price action Nov 7Research Nov 2

Conviction Level

PriceAction8.9BusinessPerformance7.0BusinessQuality1.5Valuation3.3ThemeMomentum7.0Improving — Revenue grew +52% year over year in the latest quarter. One recent quarter could not be confirmed and is not part of this read. Diluted EPS growth has strengthened to +833% year over year ($0.56), up from -61%. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
SolarImproving
vs SPY
+15.0pp
Theme return
+10.0%
Beating SPY
8 of 11
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads early recovery, with a near-term setup of reclaim attempt.
EntryReset + recovery

The stock is still rebuilding below its long-term weekly base, and the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$2.4B
Avg Volume (60D)
9.7M
60 sessions
Revenue Growth YoY
+45.1%
FY2025 vs FY2024
Gross Margin
+37.7%
Operating Margin
+6.3%
Trailing twelve months
Free Cash Flow Yield
-53.7%
Distance from 200DMA
-18.2%
P/E
4.5x
EV / Sales
4.3x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Improving

Revenue grew +52% year over year in the latest quarter. One recent quarter could not be confirmed and is not part of this read. Diluted EPS growth has strengthened to +833% year over year ($0.56), up from -61%.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthGrowing
+52%
$1.10B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. n/a
  2. +43%
  3. +53%
  4. +52%
Earnings growthAccelerating
+833%
Diluted EPS $0.56 vs $0.06 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. n/a
  2. +210%
  3. -61%
  4. +833%
Operating marginExpanding
14.0%
+13.5 pp YoY

Business Quality

1.5 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

The available comparisons disagreed; the peers comparison is the more reliable method for this business and the others are published as dissent.
Sunrun Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces. It trades at 4.3x revenue, which requires sustained delivery to be justified.

Company Research

Thesis
Sunrun is a residential solar-and-battery owner/operator and service provider that aggregates installed home batteries into dispatchable virtual-power-plant capacity for utilities and grid programs.
Opportunity
Moderate opportunity
Deployment of customer-sited generation, batteries, and controllable backup-power assets that improve resilience and can provide capacity or grid services when centralized grid capacity is constrained.
Key risk
Regulatory and policy changes affecting solar incentives.

Economic classification

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Business & Markets

Technology · Solar
What they do

Sunrun Inc. designs, develops, installs, sells, owns, and maintains residential solar energy and battery storage systems primarily in the United States, using a direct-to-consumer sales approach.

How it earns

Revenue is generated primarily through transactional sales of solar and battery systems, as well as ongoing ownership and maintenance services.

Products & services
Residential solar energy systems
Battery storage systems
Solar panels and racking
Solar leads sales
Services to commercial developers
Customers & end markets
Residential homeowners
Commercial developers (multi-family and new homes)
Market position

Leader in the U.S. Residential distributed solar-plus-storage market with integrated ownership and aggregation capabilities.

Demand drivers
Medium cyclicality

Demand depends on housing market trends, policy incentives, and consumer adoption of solar and storage technologies.