Sunrun (RUN) FY2019 results: revenue $859 million, up 13.0% on the year
Sunrun Inc. (RUN) reported revenue of $859 million for fiscal 2019, the year ended 31 December 2019, up 13.0% on the year before. Net income was $26 million, down 1.2%, and diluted earnings per share $0.21. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$859 million
+13.0% on the year
FY2013FY2019
Operating margin
-25.1%
-16.0% a year earlier
FY2013FY2019
Net income
$26 million
-1.2% on the year
FY2013FY2019
Diluted EPS
$0.21
-8.7% on the year
FY2013FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
859
760
533
+13.0%
Cost of revenue
646
535
254
+20.7%
Gross profit
213
225
n/a
-5.5%
Gross margin
24.8%
29.6%
n/a
Research and development
23.6
18.8
15.1
+25.0%
Operating income
-216
-122
-181
Operating margin
-25.1%
-16.0%
-34.0%
Pre-tax income
-399
-251
-275
Income tax
-8.2
9.3
12.4
Net income
26.3
26.7
125
-1.2%
Net margin
3.1%
3.5%
23.6%
Diluted EPS
$0.21
$0.23
$1.16
-8.7%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
-204
-62.5
-96.1
Capital expenditure
25.3
5.0
8.0
+411.9%
Free cash flow
-230
-67.4
-104
Free cash flow margin
-26.8%
-8.9%
-19.5%
Cash from investing
-843
-811
-777
Cash from financing
1,107
936
891
+18.2%
Depreciation and amortisation
22.6
20.4
19.5
+10.8%
Share-based compensation
26.3
27.9
22.0
-5.6%
Buybacks
5.0
0.0
0.0
Diluted shares, weighted
124m
117m
108m
+5.8%
Shares outstanding at period end
118m
107m
107m
+10.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
965
949
882
+1.7%
Non-controlling interest
367
334
359
+9.8%
Redeemable equity
307
126
124
+142.7%
Debt
2,255
1,749
1,295
+28.9%
Operating lease liabilities
36.1
14.2
n/a
+154.7%
Finance lease liabilities
12.9
10.0
5.8
+29.1%
Other liabilities
1,864
1,568
1,298
+18.9%
Total liabilities and equity
5,806
4,750
3,963
+22.2%
Fixed assets
56.7
34.9
36.4
+62.5%
Goodwill
95.1
87.5
87.5
+8.6%
Intangible assets
19.5
10.1
14.3
+93.7%
Cash and equivalents
363
304
242
+19.3%
Receivables
77.7
66.4
60.4
+17.0%
Inventory
261
79.5
94.4
+227.9%
Other assets
4,933
4,167
3,428
+18.4%
Total assets
5,806
4,750
3,963
+22.2%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.