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Our vision We envision a world powered by renewable energy where clean, affordable power is available to all. Our mission Our mission is to be the most trusted and valued renewable energy company by delivering intelligent, reliable, and productive solar power.
19.59% operating margin is respectable but not wide. ROIC at 28.12%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 20.2%, still solid. Free cash flow declined 17% despite revenue growth, conversion is weakening.
Free cash flow declined 17% versus the prior year, cash generation momentum has weakened. ROIC dropped from 36.46% to 28.12%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$3.56B
▲ +20.2% YoY
Net Income (TTM)
$586M
▲ +15.1% YoY
Op. Margin
19.59%
▼ -2.0pp YoY
ROIC
28.12%
▼ -8.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$514M
▼ -17.4% YoY
Op. Cash Flow (TTM)
$563M
▼ -14.2% YoY
Net Debt
-$1.04B
Net Cash Position
Cash & Equiv.
$1.09B
5Y CAGR: +24.4%
5Y CAGR: +41.1%
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