Sunnova Energy International Inc.

NOVAQ

Sunnova Energy International Inc.

NOVAQ/Electric & Other Services Combined/DE

We are an industry-leading energy services company focused on making clean energy more accessible, reliable and affordable for homeowners and businesses, serving over 441,000 customers in more than 50 United States ("U.S.") states and territories. Through our adaptive energy platform, we provide a better energy service, and generally at a better price, to deliver our mission of powering energy …

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ProfitabilityUnprofitable GrowthAccelerating Cash FlowCash burn ValuationN/A

What stands out

The business is unprofitable at the operating level (-29.34% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.

What's changing

Revenue up 19.1% YoY with margins expanding 6.2pp.

What deserves caution

Negative free cash flow of -$1.95B. The business is consuming cash, not generating it.

Profitability & Returns

TTM as of 2024-12 · YoY vs prior year · ROIC = NOPAT / invested capital

Revenue (TTM)

$816M

▲ +19.1% YoY

Net Income (TTM)

-$368M

▲ +12.0% YoY

Op. Margin

-29.34%

▲ +6.2pp YoY

ROIC

-1.95%

▲ +0.5pp YoY

Cash Flow & Balance Sheet

FCF = operating cash flow + capex · Net debt = total debt − cash · Balance sheet from latest filing

FCF (TTM)

-$1.95B

▲ +5.6% YoY

Op. Cash Flow (TTM)

-$311M

▼ -30.8% YoY

Net Debt

$8.27B

Cash & Equiv.

$211M

5Y CAGR: +44.2%

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Quality Scorecard

Is this a high-quality business?

Dividends

Payout safety and growth

DCF Valuation

What is it worth?

Financials

Full income, cash flow, balance sheet

SourceComputed from the 10-Q filed 26 Feb 2025, covering the period ending 31 Dec 2024, as reported to the SEC. Data last refreshed 19 Aug 2026. How this is calculated.

Fiscal year ends Dec. Sector medians are approximate S&P 500 benchmarks and update periodically.

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Spot a number that looks wrong? Check it in NOVAQ's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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