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Sunrun RUN Operating margin

Operating margin at other companies

Tesla, Inc. logo
Tesla, Inc.TSLA
5%-1.6pp
Enphase Energy logo
Enphase EnergyENPH
6.9%-2.9pp
SolarEdge Technologies logo
SolarEdge TechnologiesSEDG
-19.9%-9.4pp
Solaris Energy Infrastructure logo
Solaris Energy InfrastructureSEI
23.7%+6.2pp
First Solar logo
First SolarFSLR
31.8%-0.5pp
Clearway Energy, Inc. logo
Clearway Energy, Inc.CWEN
17.1%-5.2pp

Other financials

Income statement

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Revenue$722.2M+43.2%
Operating income-$43.5M+62.1%
Net income$167.6M+235%
EPS (diluted)$0.62+210%

Balance sheet

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Cash & equivalents$679.6M+12.3%
Total debt$78.9M-29.5%
Total equity$3.3B+27.7%
Total assets$22.8B+11.7%

Cash flow

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Operating cash flow$10.6M+110%
CapEx$409.0K+86.8%
Free cash flow$10.2M+110%

Valuation

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Market cap$3.23B+140%
Enterprise value$2.62B+210%
P/E5.7×
P/S+0.4×

Profitability

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Gross margin55.4%
Net margin17.9%+9.5pp
FCF margin-33.7%+3.3pp

Returns & leverage

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Return on equity19.1%+10.7pp
Debt / equity0.0×
Current ratio1.4×+0.1×

Where this comes from

Calculated from Sunrun’s reported figures.

Based on trailing twelve months.

The official record: Sunrun’s 10-Q, filed November 6, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Sunrun's operating margin?
Sunrun (RUN) reported operating margin of -150.2% in Q3 2025.
How has Sunrun's operating margin changed year-over-year?
Sunrun's operating margin decreased by 380.4% year-over-year, from -31.3% to -150.2%.
What is the long-term trend for Sunrun's operating margin?
Over 4 years (2020 to 2024), Sunrun's operating margin has grown at a 37.7% compound annual growth rate (CAGR), from -50.4% to -181.3%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.