Sunrun (RUN) FY2018 results: revenue $760 million, up 42.7% on the year
Sunrun Inc. (RUN) reported revenue of $760 million for fiscal 2018, the year ended 31 December 2018, up 42.7% on the year before. Net income was $27 million, down 78.8%, and diluted earnings per share $0.23. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$760 million
+42.7% on the year
FY2013FY2018
Operating margin
-16.0%
-34.0% a year earlier
FY2013FY2018
Net income
$27 million
-78.8% on the year
FY2013FY2018
Diluted EPS
$0.23
-80.2% on the year
FY2013FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
760
533
477
+42.7%
Cost of revenue
535
254
239
+110.5%
Gross profit
225
n/a
n/a
Gross margin
29.6%
n/a
n/a
Research and development
18.8
15.1
10.2
+25.0%
Operating income
-122
-181
-192
Operating margin
-16.0%
-34.0%
-40.3%
Pre-tax income
-251
-275
-265
Income tax
9.3
12.4
56.3
-24.5%
Net income
26.7
125
75.1
-78.8%
Net margin
3.5%
23.6%
15.7%
Diluted EPS
$0.23
$1.16
$0.72
-80.2%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
-62.5
-96.1
-200
Capital expenditure
5.0
8.0
12.5
-37.8%
Free cash flow
-67.4
-104
-213
Free cash flow margin
-8.9%
-19.5%
-44.6%
Cash from investing
-811
-777
-696
Cash from financing
936
891
899
+5.1%
Depreciation and amortisation
20.4
19.5
18.8
+4.6%
Share-based compensation
27.9
22.0
18.7
+26.4%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
117m
108m
105m
+8.2%
Shares outstanding at period end
107m
107m
104m
0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
949
882
673
+7.6%
Non-controlling interest
334
359
251
-6.9%
Redeemable equity
126
124
138
+2.1%
Debt
1,749
1,295
898
+35.1%
Operating lease liabilities
14.2
n/a
n/a
Finance lease liabilities
10.0
5.8
n/a
+71.9%
Other liabilities
1,568
1,298
1,613
+20.8%
Total liabilities and equity
4,750
3,963
3,573
+19.8%
Fixed assets
34.9
36.4
48.5
-4.1%
Goodwill
87.5
87.5
87.5
0.0%
Intangible assets
10.1
14.3
18.5
-29.4%
Cash and equivalents
304
242
224
+25.9%
Receivables
66.4
60.4
60.3
+10.1%
Inventory
79.5
94.4
67.3
-15.8%
Other assets
4,167
3,428
3,066
+21.5%
Total assets
4,750
3,963
3,573
+19.8%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.