RUNSunrun Inc.
Construction - Special Trade Contractors
- Revenue
- $3.0B
- 45% YoY
- Operating margin
- -4.3%
- 98% YoY
- EBITDA
- −$88M
- 98% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $14.9B net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashFired-937× net incomeCash flow under 80% of net income
- Dilutive SBCClear4% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.6B | $2.3B | $2.3B | $2.0B | $3.0B | 45% |
| Operating income | −$666M | −$662M | −$2.0B | −$3.7B | −$126M | 97% |
| Net income | −$79M | $173M | −$1.6B | −$2.8B | $450K | 100% |
| Operating cash flow | −$817M | −$849M | −$821M | −$766M | −$421M | 45% |
| Capex | $9M | $18M | $21M | $2M | — | |
| Stock-based comp | $211M | $111M | $112M | $113M | $108M | 4.3% |
| Buybacks | $0 | — | — | — | — |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $580K · 9
- Net
- −$580K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $5M | — | 27 | 48 |
| FY2024 | $5M | — | 13 | 32 |
| FY2023 | $5M | — | 28 | 52 |
| FY2022 | $4M | — | 35 | 71 |
| FY2021 | $4M | — | 49 | 75 |