Sunrun (RUN) FY2020 results: revenue $922 million, up 7.4% on the year
Sunrun Inc. (RUN) reported revenue of $922 million for fiscal 2020, the year ended 31 December 2020, up 7.4% on the year before. Net income was -$173 million, and diluted earnings per share $-1.24. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$922 million
+7.4% on the year
FY2013FY2020
Operating margin
-50.4%
-25.1% a year earlier
FY2013FY2020
Net income
-$173 million
FY2013FY2020
Diluted EPS
-$1.24
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
922
859
760
+7.4%
Cost of revenue
744
646
535
+15.1%
Gross profit
179
213
225
-16.0%
Gross margin
19.4%
24.8%
29.6%
Research and development
19.5
23.6
18.8
-17.0%
Operating income
-465
-216
-122
Operating margin
-50.4%
-25.1%
-16.0%
Pre-tax income
-688
-399
-251
Income tax
-60.6
-8.2
9.3
Net income
-173
26.3
26.7
Net margin
-18.8%
3.1%
3.5%
Diluted EPS
-$1.24
$0.21
$0.23
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-318
-204
-62.5
Capital expenditure
3.1
25.3
5.0
-87.8%
Free cash flow
-321
-230
-67.4
Free cash flow margin
-34.8%
-26.8%
-8.9%
Cash from investing
-498
-843
-811
Cash from financing
1,161
1,107
936
+4.9%
Depreciation and amortisation
20.0
22.6
20.4
-11.5%
Share-based compensation
171
26.3
27.9
+548.5%
Buybacks
0.0
5.0
0.0
Diluted shares, weighted
140m
124m
117m
+12.7%
Shares outstanding at period end
201m
118m
107m
+70.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,078
965
949
+530.0%
Non-controlling interest
651
367
334
+77.5%
Redeemable equity
560
307
126
+82.8%
Debt
4,796
2,255
1,749
+112.7%
Operating lease liabilities
85.6
36.1
14.2
+136.9%
Finance lease liabilities
12.9
12.9
10.0
+0.3%
Other liabilities
2,199
1,864
1,568
+17.9%
Total liabilities and equity
14,383
5,806
4,750
+147.7%
Fixed assets
62.2
56.7
34.9
+9.7%
Goodwill
4,280
95.1
87.5
+4,401.0%
Intangible assets
18.3
19.5
10.1
-6.6%
Cash and equivalents
708
363
304
+95.0%
Receivables
95.1
77.7
66.4
+22.4%
Inventory
283
261
79.5
+8.6%
Other assets
8,936
4,933
4,167
+81.1%
Total assets
14,383
5,806
4,750
+147.7%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.