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March 15, 2021 07:25
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valuation.py output (single ticker with industry enabled)
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| >> python3 valuation.py -t enph -i | |
| Fetching industries data ... | |
| Processing ENPH | |
| Solar (US): ['ENPH', 'RUN', 'FSLR', 'SPWR', 'SHLS', 'VSLR', 'NOVA', 'BEEM', 'SUNW', 'PECK', 'EVSI'] | |
| Fetching data for ENPH | |
| Starting DCF calculation for ENPH | |
| Equity %: 94% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 1.13349 * 0.09 | |
| Cost / equity = 12% | |
| Debt %: 6% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 7% * (1 - -12%) | |
| Cost / debt = 7% | |
| Cost / capital: 12% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Middle): 83% | |
| Industry Margin Rate (Middle): -51% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth 47% 37% 43% 45% 45% 45% 36% 28% 19% 11% 2% | |
| Revenue 774.42M 1.14B 1.56B 2.23B 3.23B 4.67B 6.76B 9.21B 11.77B 14.02B 15.5B 15.81B | |
| Op Margin 24% 17% 17% 17% 17% 17% 14% 12% 10% 7% 5% 3% | |
| Op Income / EBIT 186.44M 187.83M 266.0M 384.72M 550.13M 796.63M 926.58M 1.07B 1.12B 1.05B 836.9M 525.7M | |
| Tax Rate -12% -12% -12% -12% -12% -12% -4% 3% 11% 19% 27% 27% | |
| After-tax EBIT 186.44M 187.83M 266.0M 384.72M 550.13M 796.63M 926.58M 1.03B 996.54M 847.04M 610.94M 383.76M | |
| - Reinvestment 11.94M 13.91M 21.89M 32.8M 47.49M 68.77M 80.55M 83.83M 73.93M 48.64M 69.27M | |
| FCFF 195.78M 175.89M 252.08M 362.83M 517.34M 749.14M 857.81M 953.49M 912.71M 773.1M 562.3M 314.49M | |
| Cost / Capital 12% 12% 12% 12% 12% 11% 11% 11% 11% 11% 11% | |
| Discount Factors 90% 80% 72% 64% 58% 52% 47% 42% 38% 34% 30% | |
| PV(FCFF) 157.61M 202.43M 261.1M 333.61M 432.91M 444.62M 443.69M 381.65M 290.75M 190.38M | |
| Sales / Capital 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% | |
| Invested Capital 23.57B 23.58B 23.59B 23.61B 23.65B 23.69B 23.76B 23.84B 23.93B 24.0B 24.05B 24.12B | |
| ENPH DCF valuation: 3.14B | |
| Current market cap: 22.12B (604.88% over valuation) | |
| ENPH fair value price: 23.37 | |
| Current price: 164.71 (604.79% over fair value) | |
| Fetching data for RUN | |
| Starting DCF calculation for RUN | |
| Equity %: 51% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 2.01223 * 0.09 | |
| Cost / equity = 20% | |
| Debt %: 49% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 23% * (1 - 9%) | |
| Cost / debt = 21% | |
| Cost / capital: 20% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Middle): 83% | |
| Industry Margin Rate (Middle): -51% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth 32% 12% 25% 27% 27% 27% 22% 17% 12% 7% 2% | |
| Revenue 922.19M 1.22B 1.36B 1.7B 2.16B 2.73B 3.46B 4.21B 4.92B 5.5B 5.89B 6.0B | |
| Op Margin -50% -25% -25% -25% -26% -26% -37% -35% -32% -29% -27% -24% | |
| Op Income / EBIT -465.11M -307.55M -343.4M -428.88M -570.52M -722.75M -1.29B -1.46B -1.58B -1.62B -1.57B -1.45B | |
| Tax Rate 9% 9% 9% 9% 9% 9% 12% 16% 20% 23% 27% 27% | |
| After-tax EBIT -424.13M -280.45M -313.15M -391.1M -520.26M -659.08M -1.13B -1.22B -1.26B -1.24B -1.15B -1.06B | |
| - Reinvestment 11.12M 5.32M 12.6M 16.91M 21.43M 27.14M 28.02M 26.37M 21.76M 14.22M -190.84M | |
| FCFF -1.29B -291.57M -318.47M -403.7M -537.17M -680.5M -1.16B -1.25B -1.29B -1.26B -1.16B -866.42M | |
| Cost / Capital 20% 20% 20% 20% 20% 19% 17% 15% 13% 11% 11% | |
| Discount Factors 83% 69% 57% 48% 40% 33% 29% 25% 22% 20% 18% | |
| PV(FCFF) -242.17M -219.69M -231.3M -255.62M -268.96M -385.58M -358.01M -321.35M -278.0M -230.91M | |
| Sales / Capital 4% 4% 4% 4% 4% 4% 4% 4% 4% 4% 4% 4% | |
| Invested Capital 24.76B 24.77B 24.78B 24.79B 24.81B 24.83B 24.86B 24.88B 24.91B 24.93B 24.95B 24.76B | |
| RUN DCF valuation: -2.79B | |
| Current market cap: 12.62B (-552.04% over valuation) | |
| RUN fair value price: -13.78 | |
| Current price: 62.29 (-552.03% over fair value) | |
| Fetching data for FSLR | |
| Starting DCF calculation for FSLR | |
| Equity %: 84% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 1.45371 * 0.09 | |
| Cost / equity = 15% | |
| Debt %: 16% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 6% * (1 - -47%) | |
| Cost / debt = 9% | |
| Cost / capital: 14% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Mature): 36% | |
| Industry Margin Rate (Mature): -3% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth -14% -3% 3% 4% 4% 4% 4% 3% 3% 2% 2% | |
| Revenue 3.5B 3.02B 2.93B 3.01B 3.15B 3.28B 3.43B 3.56B 3.68B 3.79B 3.88B 3.96B | |
| Op Margin 15% -5% -5% -5% -5% -5% 12% 12% 11% 11% 10% 10% | |
| Op Income / EBIT 510.85M -141.8M -132.17M -138.55M -155.82M -162.6M 414.05M 412.3M 407.93M 400.96M 391.44M 379.45M | |
| Tax Rate -47% -47% -47% -47% -47% -47% -33% -18% -3% 12% 27% 27% | |
| After-tax EBIT 510.85M -141.8M -132.17M -138.55M -155.82M -162.6M 414.05M 412.3M 407.93M 352.36M 285.75M 277.0M | |
| - Reinvestment 0 -28.91M 27.83M 44.33M 46.25M 48.27M 44.92M 41.02M 36.57M 31.63M 50.0M | |
| FCFF 147.06M -141.8M -103.27M -166.38M -200.15M -208.85M 365.78M 367.37M 366.92M 315.79M 254.12M 227.0M | |
| Cost / Capital 14% 14% 14% 14% 14% 13% 13% 12% 12% 11% 11% | |
| Discount Factors 88% 77% 68% 59% 52% 46% 41% 36% 33% 29% 26% | |
| PV(FCFF) -124.52M -79.63M -112.67M -119.02M -109.06M 168.57M 150.14M 133.65M 103.04M 74.64M | |
| Sales / Capital 34% 34% 34% 34% 34% 34% 34% 34% 34% 34% 34% 34% | |
| Invested Capital 10.36B 10.36B 10.33B 10.35B 10.4B 10.44B 10.49B 10.54B 10.58B 10.62B 10.65B 10.7B | |
| FSLR DCF valuation: 85.14M | |
| Current market cap: 8.69B (10101.75% over valuation) | |
| FSLR fair value price: 0.8 | |
| Current price: 81.95 (10143.75% over fair value) | |
| Fetching data for SPWR | |
| Starting DCF calculation for SPWR | |
| Equity %: 80% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 2.54138 * 0.09 | |
| Cost / equity = 25% | |
| Debt %: 20% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 23% * (1 - -4%) | |
| Cost / debt = 24% | |
| Cost / capital: 24% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Mature): 36% | |
| Industry Margin Rate (Mature): -3% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth 82% 16% 8% 9% 9% 9% 8% 6% 5% 3% 2% | |
| Revenue 802.1M 1.46B 1.69B 1.82B 1.99B 2.17B 2.37B 2.56B 2.72B 2.85B 2.95B 3.01B | |
| Op Margin -14% -5% -5% -5% -5% -5% -14% -14% -14% -14% -14% -14% | |
| Op Income / EBIT -113.07M -70.75M -81.49M -88.59M -98.06M -107.14M -327.07M -351.08M -371.78M -388.32M -399.98M -406.19M | |
| Tax Rate -4% -4% -4% -4% -4% -4% 2% 9% 15% 21% 27% 27% | |
| After-tax EBIT -113.07M -70.75M -81.49M -88.59M -98.06M -107.14M -319.25M -321.09M -317.15M -307.37M -291.98M -296.52M | |
| - Reinvestment 68.33M 23.99M 13.44M 17.53M 19.15M 20.93M 19.28M 16.92M 13.88M 10.25M -53.52M | |
| FCFF -218.54M -139.08M -105.48M -102.03M -115.59M -126.29M -340.17M -340.37M -334.07M -321.25M -302.23M -243.0M | |
| Cost / Capital 24% 24% 24% 24% 24% 22% 19% 16% 14% 11% 11% | |
| Discount Factors 80% 65% 52% 42% 33% 27% 23% 20% 17% 16% 14% | |
| PV(FCFF) -111.71M -68.06M -52.88M -48.12M -42.23M -93.38M -78.43M -66.11M -55.88M -47.33M | |
| Sales / Capital 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% | |
| Invested Capital 7.7B 7.77B 7.79B 7.8B 7.82B 7.84B 7.86B 7.88B 7.9B 7.91B 7.92B 7.87B | |
| SPWR DCF valuation: -664.12M | |
| Current market cap: 6.19B (-1032.23% over valuation) | |
| SPWR fair value price: -3.89 | |
| Current price: 36.3 (-1033.16% over fair value) | |
| Fetching data for SHLS | |
| Note: no estimates given for SHLS - using existing revenue growth numbers. | |
| Starting DCF calculation for SHLS | |
| Equity %: 99% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 0 * 0.09 | |
| Cost / equity = 2% | |
| Debt %: 1% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 6% * (1 - 0%) | |
| Cost / debt = 6% | |
| Cost / capital: 2% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Small): 26% | |
| Industry Margin Rate (Small): -0% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth 0% 0% 0% 0% 0% 0% 0% 1% 1% 2% 2% | |
| Revenue 37.88M 37.88M 37.88M 37.88M 37.88M 37.88M 37.88M 38.03M 38.34M 38.8M 39.42M 40.21M | |
| Op Margin 21% 21% 21% 21% 21% 21% 20% 20% 19% 19% 19% 19% | |
| Op Income / EBIT 8.14M 8.14M 8.14M 8.14M 8.14M 8.14M 7.6M 7.52M 7.47M 7.45M 7.46M 7.49M | |
| Tax Rate 0% 0% 0% 0% 0% 0% 5% 11% 16% 22% 27% 27% | |
| After-tax EBIT 8.14M 8.14M 8.14M 8.14M 8.14M 8.14M 7.19M 6.71M 6.26M 5.84M 5.45M 5.47M | |
| - Reinvestment 0 0.0 0.0 0.0 0.0 0.0 983.89 1.98K 2.99K 4.03K 987.58K | |
| FCFF 7.18M 8.14M 8.14M 8.14M 8.14M 8.14M 7.19M 6.71M 6.26M 5.84M 5.44M 4.48M | |
| Cost / Capital 2% 2% 2% 2% 2% 3% 5% 7% 9% 11% 11% | |
| Discount Factors 98% 97% 95% 94% 92% 89% 85% 79% 72% 65% 59% | |
| PV(FCFF) 8.01M 7.89M 7.76M 7.64M 7.52M 6.42M 5.68M 4.94M 4.22M 3.54M | |
| Sales / Capital 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% | |
| Invested Capital 5.83B 5.83B 5.83B 5.83B 5.83B 5.83B 5.83B 5.83B 5.83B 5.83B 5.83B 5.84B | |
| SHLS DCF valuation: 63.65M | |
| Current market cap: 5.8B (9019.03% over valuation) | |
| SHLS fair value price: 0.38 | |
| Current price: 34.84 (9068.42% over fair value) | |
| Fetching data for VSLR | |
| Starting DCF calculation for VSLR | |
| Equity %: 46% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 1.64756 * 0.09 | |
| Cost / equity = 17% | |
| Debt %: 54% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 23% * (1 - -49%) | |
| Cost / debt = 34% | |
| Cost / capital: 26% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Middle): 83% | |
| Industry Margin Rate (Middle): -51% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth 20% 10% 10% 12% 12% 12% 10% 8% 6% 4% 2% | |
| Revenue 378.46M 454.69M 500.91M 552.39M 618.31M 692.1M 774.69M 851.74M 919.54M 974.47M 1.01B 1.03B | |
| Op Margin -50% -53% -53% -52% -53% -53% -37% -34% -32% -29% -27% -24% | |
| Op Income / EBIT -188.47M -239.12M -264.85M -289.37M -329.97M -369.35M -286.32M -292.93M -292.63M -285.09M -270.44M -249.3M | |
| Tax Rate -49% -49% -49% -49% -49% -49% -34% -18% -3% 12% 27% 27% | |
| After-tax EBIT -188.47M -239.12M -264.85M -289.37M -329.97M -369.35M -286.32M -292.93M -292.63M -251.28M -197.42M -181.99M | |
| - Reinvestment 2.44M 1.48M 1.65M 2.11M 2.36M 2.64M 2.47M 2.17M 1.76M 1.24M -32.85M | |
| FCFF -665.33M -241.56M -266.32M -291.02M -332.08M -371.71M -288.96M -295.4M -294.8M -253.04M -198.66M -149.14M | |
| Cost / Capital 26% 26% 26% 26% 26% 23% 20% 17% 14% 11% 11% | |
| Discount Factors 79% 63% 50% 40% 31% 25% 21% 18% 16% 14% 13% | |
| PV(FCFF) -191.55M -167.47M -145.11M -131.3M -116.54M -73.6M -62.65M -53.39M -40.17M -28.39M | |
| Sales / Capital 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% | |
| Invested Capital 11.83B 11.83B 11.83B 11.83B 11.84B 11.84B 11.84B 11.84B 11.84B 11.85B 11.85B 11.81B | |
| VSLR DCF valuation: -1.01B | |
| Current market cap: 5.42B (-636.77% over valuation) | |
| VSLR fair value price: -8.03 | |
| Current price: 43.08 (-636.49% over fair value) | |
| Fetching data for NOVA | |
| Starting DCF calculation for NOVA | |
| Equity %: 39% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 0 * 0.09 | |
| Cost / equity = 2% | |
| Debt %: 61% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 23% * (1 - -0%) | |
| Cost / debt = 23% | |
| Cost / capital: 15% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Small): 26% | |
| Industry Margin Rate (Small): -0% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth 43% 32% 32% 34% 34% 34% 28% 21% 15% 8% 2% | |
| Revenue 160.82M 230.26M 302.8M 399.88M 535.99M 718.44M 963.0M 1.23B 1.49B 1.71B 1.85B 1.89B | |
| Op Margin -22% -24% -25% -25% -25% -25% -22% -22% -22% -22% -22% -22% | |
| Op Income / EBIT -35.78M -55.91M -74.42M -98.8M -133.54M -178.99M -214.25M -273.46M -331.5M -380.62M -412.63M -420.89M | |
| Tax Rate -0% -0% -0% -0% -0% -0% 5% 11% 16% 22% 27% 27% | |
| After-tax EBIT -35.78M -55.91M -74.42M -98.8M -133.54M -178.99M -202.79M -244.02M -277.88M -298.45M -301.22M -307.25M | |
| - Reinvestment 939.26K 981.27K 1.31M 1.84M 2.47M 3.31M 3.6M 3.53M 2.99M 1.95M -55.46M | |
| FCFF -709.84M -56.85M -75.4M -100.11M -135.38M -181.46M -206.09M -247.62M -281.41M -301.44M -303.17M -251.79M | |
| Cost / Capital 15% 15% 15% 15% 15% 14% 13% 13% 12% 11% 11% | |
| Discount Factors 87% 76% 66% 58% 50% 44% 39% 35% 31% 28% 25% | |
| PV(FCFF) -49.55M -57.28M -66.28M -78.12M -91.27M -90.92M -96.45M -97.39M -93.3M -84.48M | |
| Sales / Capital 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% | |
| Invested Capital 11.89B 11.89B 11.89B 11.89B 11.89B 11.9B 11.9B 11.9B 11.91B 11.91B 11.91B 11.86B | |
| NOVA DCF valuation: -805.05M | |
| Current market cap: 4.59B (-670.63% over valuation) | |
| NOVA fair value price: -7.45 | |
| Current price: 42.51 (-670.6% over fair value) | |
| Fetching data for BEEM | |
| Note: no estimates given for BEEM - using existing revenue growth numbers. | |
| Starting DCF calculation for BEEM | |
| Equity %: 99% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 0 * 0.09 | |
| Cost / equity = 2% | |
| Debt %: 1% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 23% * (1 - -0%) | |
| Cost / debt = 23% | |
| Cost / capital: 2% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Middle): 83% | |
| Industry Margin Rate (Middle): -51% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth -26% -26% -26% -26% -26% -26% -21% -15% -9% -4% 2% | |
| Revenue 4.51M 3.32M 2.44M 1.8M 1.32M 974.83K 717.74K 569.18K 483.67K 438.45K 422.34K 430.78K | |
| Op Margin -95% -95% -95% -95% -95% -95% -59% -52% -45% -38% -31% -24% | |
| Op Income / EBIT -4.26M -3.14M -2.31M -1.7M -1.25M -922.71K -426.24K -297.87K -219.01K -167.61K -131.66K -103.91K | |
| Tax Rate -0% -0% -0% -0% -0% -0% 5% 11% 16% 22% 27% 27% | |
| After-tax EBIT -4.26M -3.14M -2.31M -1.7M -1.25M -922.71K -403.62K -265.91K -183.63K -131.44K -96.11K -75.85K | |
| - Reinvestment 0 -10.16K -7.48K -5.51K -4.05K -2.99K -1.73K -992.97 -525.08 -187.08 -13.69K | |
| FCFF -4.89M -3.14M -2.3M -1.69M -1.25M -918.66K -400.64K -264.19K -182.64K -130.92K -95.92K -62.16K | |
| Cost / Capital 2% 2% 2% 2% 2% 4% 6% 7% 9% 11% 11% | |
| Discount Factors 98% 96% 95% 93% 91% 88% 84% 78% 71% 64% 58% | |
| PV(FCFF) -3.08M -2.22M -1.61M -1.16M -840.33K -353.55K -220.96K -142.27K -93.37K -61.59K | |
| Sales / Capital 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% | |
| Invested Capital 388.01M 388.01M 388.0M 387.99M 387.98M 387.98M 387.98M 387.97M 387.97M 387.97M 387.97M 387.96M | |
| BEEM DCF valuation: -9.79M | |
| Current market cap: 383.88M (-4022.78% over valuation) | |
| BEEM fair value price: -1.23 | |
| Current price: 48.15 (-4014.63% over fair value) | |
| Fetching data for SUNW | |
| Starting DCF calculation for SUNW | |
| Equity %: 96% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 1.79394 * 0.09 | |
| Cost / equity = 18% | |
| Debt %: 4% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 23% * (1 - 0%) | |
| Cost / debt = 23% | |
| Cost / capital: 18% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Mature): 36% | |
| Industry Margin Rate (Mature): -3% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth 31% -6% -5% -5% -5% -5% -3% -2% -1% 1% 2% | |
| Revenue 43.7M 57.35M 53.75M 51.14M 48.65M 46.29M 44.04M 42.5M 41.6M 41.29M 41.55M 42.38M | |
| Op Margin -22% -12% -12% -13% -13% -13% -14% -13% -11% -9% -8% -6% | |
| Op Income / EBIT -9.7M -7.08M -6.63M -6.42M -6.1M -5.81M -6.28M -5.38M -4.61M -3.92M -3.28M -2.67M | |
| Tax Rate 0% 0% 0% 0% 0% 0% 5% 11% 16% 22% 27% 27% | |
| After-tax EBIT -9.7M -7.08M -6.63M -6.42M -6.1M -5.81M -5.94M -4.8M -3.86M -3.07M -2.4M -1.95M | |
| - Reinvestment 1.51M -397.11K -288.72K -274.69K -261.33K -248.63K -169.77K -99.41K -34.23K 28.63K -352.16K | |
| FCFF -9.54M -8.58M -6.24M -6.13M -5.83M -5.55M -5.69M -4.63M -3.76M -3.04M -2.42M -1.6M | |
| Cost / Capital 18% 18% 18% 18% 18% 17% 15% 14% 12% 11% 11% | |
| Discount Factors 85% 72% 61% 51% 44% 37% 32% 28% 25% 23% 20% | |
| PV(FCFF) -7.27M -4.47M -3.72M -3.0M -2.42M -2.12M -1.5M -1.07M -767.52K -551.47K | |
| Sales / Capital 11% 11% 11% 11% 11% 11% 11% 11% 11% 11% 11% 11% | |
| Invested Capital 395.5M 397.01M 396.61M 396.32M 396.05M 395.79M 395.54M 395.37M 395.27M 395.24M 395.26M 394.91M | |
| SUNW DCF valuation: -26.89M | |
| Current market cap: 378.03M (-1505.95% over valuation) | |
| SUNW fair value price: -1.13 | |
| Current price: 15.86 (-1503.54% over fair value) | |
| Fetching data for PECK | |
| Note: no estimates given for PECK - using existing revenue growth numbers. | |
| Starting DCF calculation for PECK | |
| Equity %: 77% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 1.13374 * 0.09 | |
| Cost / equity = 12% | |
| Debt %: 23% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 23% * (1 - 42%) | |
| Cost / debt = 13% | |
| Cost / capital: 12% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Small): 26% | |
| Industry Margin Rate (Small): -0% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth 0% 0% 0% 0% 0% 0% 1% 1% 1% 2% 2% | |
| Revenue 18.06M 18.1M 18.13M 18.16M 18.2M 18.23M 18.26M 18.36M 18.53M 18.77M 19.07M 19.45M | |
| Op Margin -13% -13% -13% -13% -13% -13% -5% -3% -2% 0% 2% 3% | |
| Op Income / EBIT -2.28M -2.29M -2.29M -2.3M -2.3M -2.3M -856.74K -569.41K -279.92K 14.93K 318.48K 634.22K | |
| Tax Rate 42% 42% 42% 42% 42% 42% 39% 36% 33% 30% 27% 27% | |
| After-tax EBIT -1.33M -1.33M -1.33M -1.34M -1.34M -1.34M -524.21K -365.22K -187.81K 10.46K 232.49K 462.98K | |
| - Reinvestment 4.32K 4.33K 4.34K 4.34K 4.35K 4.36K 13.06K 21.87K 30.89K 40.21K 83.57K | |
| FCFF -1.04M -1.34M -1.34M -1.34M -1.34M -1.35M -528.57K -378.28K -209.68K -20.43K 192.28K 379.41K | |
| Cost / Capital 12% 12% 12% 12% 12% 12% 12% 12% 11% 11% 11% | |
| Discount Factors 89% 79% 71% 63% 56% 50% 45% 40% 36% 33% 29% | |
| PV(FCFF) -1.19M -1.06M -949.43K -847.64K -756.76K -265.29K -169.88K -84.43K -7.39K 62.62K | |
| Sales / Capital 13% 13% 13% 13% 13% 13% 13% 13% 13% 13% 13% 13% | |
| Invested Capital 137.96M 137.97M 137.97M 137.98M 137.98M 137.99M 137.99M 138.0M 138.03M 138.06M 138.1M 138.18M | |
| PECK DCF valuation: -5.27M | |
| Current market cap: 106.63M (-2122.26% over valuation) | |
| PECK fair value price: -0.86 | |
| Current price: 17.33 (-2115.12% over fair value) | |
| Fetching data for EVSI | |
| Starting DCF calculation for EVSI | |
| Equity %: 98% | |
| Cost / equity = riskfree rate + beta * country ERP | |
| Cost / equity = 2% + 0.14874 * 0.09 | |
| Cost / equity = 3% | |
| Debt %: 2% | |
| Cost / debt = synthetic cost / debt * (1 - effective tax rate) | |
| Cost / debt = 23% * (1 - -0%) | |
| Cost / debt = 23% | |
| Cost / capital: 3% | |
| Industry Growth Rate: 55% | |
| Industry Margin Rate: -24% | |
| Industry Growth Rate (Middle): 83% | |
| Industry Margin Rate (Middle): -51% | |
| Base Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Value | |
| Rev Growth 322% 69% 163% 167% 167% 167% 134% 101% 68% 35% 2% | |
| Revenue 5.05M 21.34M 35.97M 94.49M 251.95M 671.82M 1.79B 4.19B 8.41B 14.11B 19.04B 19.42B | |
| Op Margin -75% -48% -48% -47% -50% -50% -50% -44% -39% -34% -29% -24% | |
| Op Income / EBIT -3.79M -10.2M -17.14M -44.79M -124.8M -332.77M -888.03M -1.86B -3.31B -4.84B -5.56B -4.68B | |
| Tax Rate -0% -0% -0% -0% -0% -0% 5% 11% 16% 22% 27% 27% | |
| After-tax EBIT -3.79M -10.2M -17.14M -44.79M -124.8M -332.77M -840.65M -1.66B -2.78B -3.8B -4.06B -3.42B | |
| - Reinvestment 992.34K 891.78K 3.57M 9.6M 25.59M 68.23M 145.99M 257.17M 347.66M 300.39M -617.24M | |
| FCFF -4.6M -11.2M -18.03M -48.36M -134.4M -358.36M -908.88M -1.81B -3.03B -4.14B -4.36B -2.8B | |
| Cost / Capital 3% 3% 3% 3% 3% 5% 6% 8% 10% 11% 11% | |
| Discount Factors 97% 94% 90% 88% 85% 81% 76% 70% 64% 58% 52% | |
| PV(FCFF) -10.83M -16.87M -43.75M -117.62M -303.35M -733.23M -1.37B -2.13B -2.65B -2.51B | |
| Sales / Capital 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% | |
| Invested Capital 82.92M 83.91M 84.81M 88.37M 97.97M 123.56M 191.79M 337.78M 594.95M 942.62M 1.24B 625.77M | |
| EVSI DCF valuation: -9.89B | |
| Current market cap: 80.99M (-100.82% over valuation) | |
| EVSI fair value price: -1479.05 | |
| Current price: 12.11 (-100.82% over fair value) | |
| Solar summary (11 of 11 tickers): | |
| Ticker Age Market Cap DCF Price Fair Value % Difference | |
| ENPH 9 22.12B 3.14B 164.71 23.37 605% | |
| RUN 8 12.62B -2.79B 62.29 -13.78 -552% | |
| FSLR 13 8.69B 85.14M 81.95 0.8 10102% | |
| SPWR 18 6.19B -664.12M 36.3 -3.89 -1032% | |
| SHLS 2 5.8B 63.65M 34.84 0.38 9019% | |
| VSLR 6 5.42B -1.01B 43.08 -8.03 -637% | |
| NOVA 2 4.59B -805.05M 42.51 -7.45 -671% | |
| BEEM 10 383.88M -9.79M 48.15 -1.23 -4023% | |
| SUNW 11 378.03M -26.89M 15.86 -1.13 -1506% | |
| PECK 1 106.63M -5.27M 17.33 -0.86 -2122% | |
| EVSI 10 80.99M -9.89B 12.11 -1.48K -101% |
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