Sunrun (RUN) FY2017 results: revenue $533 million, up 11.6% on the year
Sunrun Inc. (RUN) reported revenue of $533 million for fiscal 2017, the year ended 31 December 2017, up 11.6% on the year before. Net income was $125 million, up 67.0%, and diluted earnings per share $1.16. The figures are the company's own, from the 10-K it filed with the SEC on 6 March 2018.
Revenue
$533 million
+11.6% on the year
FY2013FY2017
Operating margin
-34.0%
-40.3% a year earlier
FY2013FY2017
Net income
$125 million
+67.0% on the year
FY2013FY2017
Diluted EPS
$1.16
+61.1% on the year
FY2013FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
533
477
305
+11.6%
Cost of revenue
254
239
169
+6.2%
Gross profit
n/a
n/a
136
Gross margin
n/a
n/a
44.6%
Research and development
15.1
10.2
9.7
+47.8%
Operating income
-181
-192
-219
Operating margin
-34.0%
-40.3%
-72.0%
Pre-tax income
-275
-265
-254
Income tax
12.4
56.3
-5.3
-78.0%
Net income
125
75.1
-28.2
+67.0%
Net margin
23.6%
15.7%
-9.3%
Diluted EPS
$1.16
$0.72
-$0.96
+61.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
-96.1
-200
-105
Capital expenditure
8.0
12.5
13.0
-36.6%
Free cash flow
-104
-213
-118
Free cash flow margin
-19.5%
-44.6%
-38.8%
Cash from investing
-777
-696
n/a
Cash from financing
891
899
n/a
-0.9%
Depreciation and amortisation
19.5
18.8
11.2
+3.7%
Share-based compensation
22.0
18.7
15.8
+17.7%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
108m
105m
55m
+3.1%
Shares outstanding at period end
107m
104m
101m
+2.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
882
673
554
+31.0%
Non-controlling interest
359
251
105
+42.9%
Redeemable equity
124
138
147
-10.3%
Debt
1,295
898
535
+44.2%
Finance lease liabilities
5.8
n/a
n/a
Other liabilities
1,298
1,613
1,397
-19.5%
Total liabilities and equity
3,963
3,573
2,738
+10.9%
Fixed assets
36.4
48.5
44.9
-24.9%
Goodwill
87.5
87.5
87.5
0.0%
Intangible assets
14.3
18.5
22.7
-22.7%
Cash and equivalents
242
224
221
+7.8%
Receivables
60.4
60.3
60.3
+0.2%
Inventory
94.4
67.3
71.3
+40.3%
Other assets
3,428
3,066
2,230
+11.8%
Total assets
3,963
3,573
2,738
+10.9%
10-K for the year ended 31 December 2017, filed 6 March 2018: the filing.