Spruce Power Holding Corporation(SPRU)Earnings, Financials & Key Ratios
SPRU•NYSE
$3.52
$64M mkt cap·Price updated May 6, 2026
AboutXL Fleet Corp. provides fleet electrification solutions for commercial vehicles in North America. Its products include hybrid electric drive systems are comprised of an electric motor that is mounted onto the vehicle's drive shaft, an inverter motor controller, and a lithium-ion battery pack to store energy to be used for propulsion; plug-in hybrid electric drive system, which are fitted to vehicles. In addition, the company offers vehicle electrification and infrastructure solutions, and charging stations. It serves end-use customer base comprising Fortune 500 corporate enterprises, public utilities, and various municipalities. The company was incorporated in 2009 and is headquartered in Boston, Massachusetts.Show more
- Revenue$82M+2.8%
- EBITDA-$29M-91.1%
- Net Income-$70M-7.1%
- EPS (Diluted)-3.82-6.7%
- Gross Margin51.31%-2.5%
- EBITDA Margin-35.45%-85.9%
- Operating Margin-61.37%-33.1%
- Net Margin-85.85%-4.1%
- ROE-39.07%-49.5%
- ROIC-5.1%-15.4%
- Debt/Equity4.87+66.9%
- Interest Coverage-1.25-42.7%
SPRU Key Insights
Spruce Power Holding Corporation (SPRU) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y sales CAGR of 62.6%
- ✓Trading at only 0.4x book value
✗Weaknesses
- ✗High debt to equity ratio of 4.9x
- ✗Weak Piotroski F-Score: 2/9
- ✗Negative free cash flow
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
SPRU Price & Volume
Spruce Power Holding Corporation (SPRU) stock price & volume — 10-year historical chart
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SPRU Growth Metrics
Spruce Power Holding Corporation (SPRU) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years62.64%
3 Years73.95%
TTM38.75%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM73.56%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM72.98%
Return on Capital
10 Years-41.85%
5 Years-9.2%
3 Years-6.76%
Last Year-6.06%
SPRU Peer Comparison
Spruce Power Holding Corporation (SPRU) competitors in Residential solar installers and financing — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 RUN | 3.01B | 12.83 | 7.50 | 45.11% | 17.9% | 12.42% | 2.99 | |
 SHLS | 1.4B | 8.33 | 41.65 | 19.07% | 6.27% | 5.67% | 0.29 | |
 SEDG | 2.47B | 40.61 | -5.89 | 31.39% | -28.56% | -79.58% | 0.99 | |
 ENPH | 4.72B | 35.80 | 27.75 | 10.72% | 9.64% | 13.28% | 1.14 | |
 ARRY | 1.24B | 8.12 | -11.13 | 40.22% | -5.56% | -20.64% | 2.94 | |
 FTCI | 63.88M | 4.00 | -0.73 | 110.51% | -42.13% | |||
 SPWR | 874.51M | 1.03 | -15.40 | 2.92% | -13.21% | |||
 NEE | 198.92B | 95.39 | 28.99 | 11% | 29.3% | 12.66% | 1.44 |
Compare SPRU vs Peers
Spruce Power Holding Corporation (SPRU) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SPRU Income Statement
Spruce Power Holding Corporation (SPRU) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 9.54M | 7.21M | 20.34M | 15.6M | 23.19M | 79.86M | 82.11M | 108.01M |
| Revenue Growth % | - | -24.41% | 181.89% | -23.3% | 48.68% | 244.31% | 2.81% | 38.75% |
| Cost of Goods Sold | 11.01M | 8.07M | 17.59M | 16.3M | 9.95M | 37.81M | 39.97M | 41.82M |
| COGS % of Revenue | 115.39% | 111.92% | 86.51% | 104.46% | 42.89% | 47.35% | 48.69% | - |
| Gross Profit | -1.47M▲ 0% | -860K▲ 41.5% | 2.74M▲ 419.1% | -696K▼ 125.4% | 13.24M▲ 2003.0% | 42.05M▲ 217.4% | 42.13M▲ 0.2% | 66.19M▲ 0% |
| Gross Margin % | -15.39% | -11.92% | 13.49% | -4.46% | 57.11% | 52.65% | 51.31% | 61.28% |
| Gross Profit Growth % | - | 41.46% | 419.07% | -125.36% | 2003.02% | 217.45% | 0.21% | - |
| Operating Expenses | 11.23M | 12.71M | 18.04M | 58.21M | 72.54M | 78.86M | 92.53M | 56.98M |
| OpEx % of Revenue | 117.61% | 176.15% | 88.69% | 373.14% | 312.74% | 98.75% | 112.69% | - |
| Selling, General & Admin | 9.33M | 9.84M | 13.59M | 47.44M | 73.12M | 0 | 58.89M | 43.1M |
| SG&A % of Revenue | 97.78% | 136.31% | 66.84% | 304.07% | 315.25% | - | 71.72% | - |
| Research & Development | 1.89M | 2.87M | 4.45M | 10.78M | 0 | 0 | 0 | 0 |
| R&D % of Revenue | 19.83% | 39.83% | 21.86% | 69.07% | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | -580K | 78.86M | 33.64M | 540K |
| Operating Income | -12.7M▲ 0% | -13.57M▼ 6.9% | -15.29M▼ 12.7% | -58.91M▼ 285.2% | -59.29M▼ 0.7% | -36.82M▲ 37.9% | -50.39M▼ 36.9% | 9.21M▲ 0% |
| Operating Margin % | -133% | -188.07% | -75.2% | -377.6% | -255.64% | -46.1% | -61.37% | 8.53% |
| Operating Income Growth % | - | -6.88% | -12.71% | -285.16% | -0.66% | 37.91% | -36.87% | - |
| EBITDA | -12.44M | -13.25M | -14.67M | -58.25M | -52.84M | -15.23M | -29.11M | 36.39M |
| EBITDA Margin % | -130.28% | -183.65% | -72.14% | -373.42% | -227.8% | -19.07% | -35.45% | 33.69% |
| EBITDA Growth % | - | -6.55% | -10.73% | -297.04% | 9.3% | 71.17% | -91.12% | 214.48% |
| D&A (Non-Cash Add-back) | 260K | 319K | 622K | 653K | 6.46M | 21.59M | 21.28M | 27.18M |
| EBIT | -12.7M | -12.75M | -54.24M | 52.64M | -41.28M | -13.36M | -29.85M | 25.52M |
| Net Interest Income | 0 | -2.15M | -6.37M | -39K | -10.06M | -22.4M | -17.47M | -27.15M |
| Interest Income | 208K | 0 | 0 | 0 | 1.34M | 19.53M | 22.76M | 21.48M |
| Interest Expense | 0 | 2.15M | 6.37M | 39K | 11.4M | 41.94M | 40.23M | 48.63M |
| Other Income/Expense | -208K | -1.33M | -45.31M | 110.41M | 6.61M | -25.67M | -19.68M | -33.51M |
| Pretax Income | -12.9M▲ 0% | -14.9M▼ 15.5% | -60.61M▼ 306.7% | 51.51M▲ 185.0% | -52.68M▼ 202.3% | -62.49M▼ 18.6% | -70.08M▼ 12.1% | -24.29M▲ 0% |
| Pretax Margin % | -135.18% | -206.53% | -297.99% | 330.18% | -227.12% | -78.25% | -85.35% | -22.49% |
| Income Tax | 0 | 0 | 0 | -1.09M | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | -2.12% | 0% | 0% | 0% | 0% |
| Net Income | -12.9M▲ 0% | -14.9M▼ 15.5% | -60.61M▼ 306.7% | 28.79M▲ 147.5% | -93.93M▼ 426.3% | -65.83M▲ 29.9% | -70.49M▼ 7.1% | -25.05M▲ 0% |
| Net Margin % | -135.18% | -206.53% | -297.99% | 184.55% | -404.98% | -82.43% | -85.85% | -23.2% |
| Net Income Growth % | - | -15.48% | -306.72% | 147.5% | -426.26% | 29.92% | -7.08% | 73.56% |
| Net Income (Continuing) | -12.9M | -14.9M | -60.61M | 52.6M | -52.68M | -62.49M | -70.08M | -24.29M |
| Discontinued Operations | 0 | 0 | 0 | 0 | -40.11M | -4.12M | 25K | -43K |
| Minority Interest | 0 | 0 | 0 | 0 | 9.03M | 2.33M | 2.44M | 2.48M |
| EPS (Diluted) | -10.07▲ 0% | -4.89▲ 51.4% | -2.96▲ 39.5% | 1.66▲ 156.1% | -2.59▼ 256.0% | -3.58▼ 38.2% | -3.82▼ 6.7% | -1.39▲ 0% |
| EPS Growth % | - | 51.44% | 39.47% | 156.08% | -256.02% | -38.22% | -6.7% | 72.98% |
| EPS (Basic) | -10.07 | -4.89 | -2.96 | 1.66 | -2.59 | -3.58 | -3.82 | - |
| Diluted Shares Outstanding | 1.28M | 3.49M | 10.57M | 18.56M | 17.84M | 18.39M | 18.47M | 18M |
| Basic Shares Outstanding | 1.28M | 3.49M | 10.57M | 17.31M | 17.84M | 18.39M | 18.47M | 18M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
SPRU Balance Sheet
Spruce Power Holding Corporation (SPRU) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 12.56M | 7.08M | 345.32M | 374.61M | 274.96M | 203.34M | 136.43M | 125.43M |
| Cash & Short-Term Investments | 5.68M | 3.39M | 329.64M | 351.68M | 240.14M | 141.35M | 72.8M | 98.77M |
| Cash Only | 5.68M | 3.39M | 329.64M | 351.68M | 240.14M | 141.35M | 72.8M | 98.77M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 3.79M | 1.16M | 10.56M | 0 | 8.34M | 9.19M | 15.01M | 18.09M |
| Days Sales Outstanding | 144.97 | 58.63 | 189.5 | - | 131.18 | 41.99 | 66.73 | 60.9 |
| Inventory | 2.46M | 2.24M | 3.57M | 15.26M | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 81.36 | 101.25 | 74.15 | 341.84 | - | - | - | - |
| Other Current Assets | 226K | 150K | 150K | 6.63M | 26.48M | 52.8M | 48.62M | 8.58M |
| Total Non-Current Assets | 983K | 2.17M | 1.69M | 18.62M | 620.95M | 691.68M | 762.05M | 731.62M |
| Property, Plant & Equipment | 670K | 840K | 579K | 8.06M | 3.14M | 490.34M | 593.76M | 573.7M |
| Fixed Asset Turnover | 14.25x | 8.59x | 35.13x | 1.94x | 7.38x | 0.16x | 0.14x | 0.18x |
| Goodwill | 0 | 489K | 489K | 8.61M | 128.55M | 28.76M | 0 | 0 |
| Intangible Assets | 0 | 809K | 593K | 1.86M | 0 | 10.2M | 8.96M | 0 |
| Long-Term Investments | 0 | 0 | 0 | -34.93M | 417.89M | 143.09M | 136.94M | 556.54M |
| Other Non-Current Assets | 313K | 30K | 32K | 88K | 2.01M | 19.29M | 22.39M | 61.38M |
| Total Assets | 13.54M▲ 0% | 9.25M▼ 31.7% | 347.01M▲ 3651.9% | 393.22M▲ 13.3% | 895.9M▲ 127.8% | 895.02M▼ 0.1% | 898.48M▲ 0.4% | 857.06M▲ 0% |
| Asset Turnover | 0.70x | 0.78x | 0.06x | 0.04x | 0.03x | 0.09x | 0.09x | 0.12x |
| Asset Growth % | - | -31.7% | 3651.9% | 13.32% | 127.84% | -0.1% | 0.39% | 8.27% |
| Total Current Liabilities | 7.35M | 15.49M | 9.08M | 16.63M | 59.7M | 71.71M | 59.57M | 247.09M |
| Accounts Payable | 1.64M | 549K | 4.37M | 697K | 2.9M | 1.12M | 987K | 1.46M |
| Days Payables Outstanding | 54.28 | 24.82 | 90.7 | 15.61 | 106.54 | 10.81 | 9.01 | 9.11 |
| Short-Term Debt | 2.86M | 11.89M | 110K | 78K | 26.15M | 27.91M | 28.31M | 219.42M |
| Deferred Revenue (Current) | 0 | 638K | 926K | 691K | 39K | 878K | 1.19M | 4.75M |
| Other Current Liabilities | 1.51M | 398K | 75K | 13.29M | 24.08M | 3.24M | 5.61M | 25.05M |
| Current Ratio | 1.71x | 0.46x | 38.02x | 22.52x | 4.61x | 2.84x | 2.29x | 2.29x |
| Quick Ratio | 1.37x | 0.31x | 37.62x | 21.60x | 4.61x | 2.84x | 2.29x | 2.29x |
| Cash Conversion Cycle | 172.04 | 135.07 | 172.94 | - | - | - | - | 51.8 |
| Total Non-Current Liabilities | 5.34M | 7.46M | 149.03M | 14.78M | 547.23M | 608.64M | 692.76M | 482.63M |
| Long-Term Debt | 1.02M | 1.85M | 98K | 21K | 474.44M | 590.87M | 677.02M | 466.76M |
| Capital Lease Obligations | 0 | 0 | 0 | 91K | 2.43M | 5.73M | 4.85M | 18.55M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 9.93M | 69.35M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 4.32M | 5.48M | 148.63M | 14.67M | 560K | 10.19M | 8.1M | 32.68M |
| Total Liabilities | 12.7M | 22.95M | 158.12M | 31.41M | 606.93M | 680.35M | 752.33M | 729.72M |
| Total Debt | 3.89M | 13.73M | 208K | 4.6M | 503.01M | 625.68M | 711.07M | 690.6M |
| Net Debt | -1.79M | 10.35M | -329.43M | -347.08M | 262.87M | 484.32M | 638.27M | 591.83M |
| Debt / Equity | 4.60x | - | 0.00x | 0.01x | 1.74x | 2.91x | 4.87x | 4.87x |
| Debt / EBITDA | - | - | - | - | - | - | - | 18.98x |
| Net Debt / EBITDA | - | - | - | - | - | - | - | 16.26x |
| Interest Coverage | - | -6.31x | -2.40x | -1510.41x | -5.20x | -0.88x | -1.25x | 0.52x |
| Total Equity | 846K▲ 0% | -13.7M▼ 1719.4% | 188.9M▲ 1478.8% | 361.81M▲ 91.5% | 288.98M▼ 20.1% | 214.67M▼ 25.7% | 146.15M▼ 31.9% | 127.34M▲ 0% |
| Equity Growth % | - | -1719.39% | 1478.8% | 91.54% | -20.13% | -25.71% | -31.92% | -124.25% |
| Book Value per Share | 0.66 | -3.93 | 17.87 | 19.49 | 16.20 | 11.67 | 7.91 | 7.07 |
| Total Shareholders' Equity | 846K | -13.7M | 188.9M | 361.81M | 279.95M | 212.34M | 143.71M | 124.85M |
| Common Stock | 1K | 8K | 13K | 14K | 14K | 2K | 2K | 2K |
| Retained Earnings | -52.68M | -67.59M | -128.2M | -99.41M | -193.34M | -257.89M | -328.38M | -347.54M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | -5.42M | -6.28M | -8.1M |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 9.03M | 2.33M | 2.44M | 2.48M |
SPRU Cash Flow Statement
Spruce Power Holding Corporation (SPRU) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -13.29M | -11.55M | -19.88M | -48.49M | -63.49M | -33.66M | -41.81M | -41.81M |
| Operating CF Margin % | -139.26% | -160.1% | -97.75% | -310.86% | -273.73% | -42.15% | -50.92% | - |
| Operating CF Growth % | - | 13.1% | -72.11% | -143.92% | -30.92% | 46.98% | -24.21% | 237.19% |
| Net Income | -12.9M | -14.9M | -60.61M | 28.79M | -53.82M | -62.49M | -70.08M | -25.05M |
| Depreciation & Amortization | 260K | 319K | 622K | 72K | 7.5M | 21.59M | 21.28M | 25.94M |
| Stock-Based Compensation | 305K | 208K | 978K | 7.88M | 0 | 2.88M | 2.71M | 2.35M |
| Deferred Taxes | 0 | -797K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 859K | 1.68M | 44.37M | -84.81M | -18.6M | -5.55M | 18.52M | -10.23M |
| Working Capital Changes | -1.81M | 1.94M | -5.24M | -424K | 1.43M | 9.9M | -14.25M | -18.55M |
| Change in Receivables | -2.1M | 2.61M | -9.4M | 0 | 553K | 85K | -3.49M | -5.98M |
| Change in Inventory | -525K | 215K | -1.33M | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | -1.09M | 3.82M | 0 | -1.7M | -1.78M | -133K | 94K |
| Cash from Investing | -146K | -28K | -145K | -14.83M | -37.29M | -16.73M | -101.41M | -116.51M |
| Capital Expenditures | -146K | -28K | -145K | 0 | 0 | -499K | -354K | -356K |
| CapEx % of Revenue | 1.53% | 0.39% | 0.71% | - | - | 0.62% | 0.43% | - |
| Acquisitions | 0 | 0 | 0 | 0 | -38.58M | -43.1M | -132.76M | -137.31M |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 230M | 0 | -14.83M | 1.29M | 6.62M | 6.09M | 3.94M |
| Cash from Financing | 6.51M | 9.21M | 346.28M | 85.36M | -10.9M | -16.81M | 79.43M | 81.92M |
| Debt Issued (Net) | 928K | 9.39M | -6.33M | 0 | -9.54M | -11.61M | 83.9M | 86.1M |
| Equity Issued (Net) | 0 | 0 | 1000K | 0 | 630K | -1000K | -853K | -2.66M |
| Dividends Paid | 0 | -10K | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -231.25M | 0 | 0 | 0 | -5.42M | -853K | -2.67M |
| Other Financing | 5.59M | -174K | 207.72M | 85.36M | -1.99M | 79K | -3.62M | -1.51M |
| Net Change in Cash | -6.92M▲ 0% | -2.37M▲ 65.8% | 326.25M▲ 13860.2% | 22.04M▼ 93.2% | -111.68M▼ 606.8% | -67.2M▲ 39.8% | -63.79M▲ 5.1% | -51.21M▲ 0% |
| Free Cash Flow | -13.44M▲ 0% | -11.58M▲ 13.8% | -20.03M▼ 73.0% | -48.49M▼ 142.2% | -63.49M▼ 30.9% | -34.16M▲ 46.2% | -42.16M▼ 23.4% | -25.28M▲ 0% |
| FCF Margin % | -140.79% | -160.49% | -98.47% | -310.86% | -273.73% | -42.78% | -51.35% | -23.41% |
| FCF Growth % | - | 13.83% | -72.95% | -142.16% | -30.92% | 46.2% | -23.43% | 45.62% |
| FCF per Share | -10.48 | -3.32 | -1.89 | -2.61 | -3.56 | -1.86 | -2.28 | -2.28 |
| FCF Conversion (FCF/Net Income) | 1.03x | 0.78x | 0.33x | -1.68x | 0.68x | 0.51x | 0.59x | 1.01x |
| Interest Paid | 0 | 0 | 389K | 48K | 0 | 37.48M | 35.06M | 33.75M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SPRU Key Ratios
Spruce Power Holding Corporation (SPRU) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | -69.19% | 10.46% | -28.87% | -26.14% | -39.07% | -19.68% |
| Return on Invested Capital (ROIC) | - | - | -299.89% | -15.7% | -4.42% | -5.1% | -5.1% |
| Gross Margin | -11.92% | 13.49% | -4.46% | 57.11% | 52.65% | 51.31% | 61.28% |
| Net Margin | -206.53% | -297.99% | 184.55% | -404.98% | -82.43% | -85.85% | -23.2% |
| Debt / Equity | - | 0.00x | 0.01x | 1.74x | 2.91x | 4.87x | 4.87x |
| Interest Coverage | -6.31x | -2.40x | -1510.41x | -5.20x | -0.88x | -1.25x | 0.52x |
| FCF Conversion | 0.78x | 0.33x | -1.68x | 0.68x | 0.51x | 0.59x | 1.01x |
| Revenue Growth | -24.41% | 181.89% | -23.3% | 48.68% | 244.31% | 2.81% | 38.75% |
SPRU Frequently Asked Questions
Spruce Power Holding Corporation (SPRU) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Spruce Power Holding Corporation (SPRU) reported $108.0M in revenue for fiscal year 2024. This represents a 1032% increase from $9.5M in 2018.
Spruce Power Holding Corporation (SPRU) grew revenue by 2.8% over the past year. Growth has been modest.
Spruce Power Holding Corporation (SPRU) reported a net loss of $25.1M for fiscal year 2024.
Dividend & Returns
Spruce Power Holding Corporation (SPRU) has a return on equity (ROE) of -39.1%. Negative ROE indicates the company is unprofitable.
Spruce Power Holding Corporation (SPRU) had negative free cash flow of $25.3M in fiscal year 2024, likely due to heavy capital investments.
Explore More SPRU
Spruce Power Holding Corporation (SPRU) financial analysis — history, returns, DCA and operating performance tools
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Valuation
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