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SOLEmeren Group, Ltd.
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SOL logoEmeren Group, Ltd.(SOL)Earnings, Financials & Key Ratios

SOL•NYSE
Price updated Apr 24, 2026
SectorEnergyIndustrySolarSub-IndustrySolar project developers and owners
AboutEmeren Group Ltd is solar project developer, owner, and operator. The Company specializes in solar project lifecycle, construction management, and financing services.Show more
  • Revenue$92M-12.9%
  • EBITDA$6M+871.5%
  • Net Income-$12M-291.6%
  • EPS (Diluted)-0.24-328.6%
  • Gross Margin26.2%+10.7%
  • EBITDA Margin6.96%+985.3%
  • Operating Margin-0.55%+93.3%
  • Net Margin-13.55%-349.4%
  • ROE-3.56%-319.9%

SOL Key Insights

Emeren Group, Ltd. (SOL) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Share count reduced 8.3% through buybacks
  • ✓Trading near 52-week high
  • ✓Trading at only 0.3x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Sales declining 5.0% over 5 years
  • ✗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.

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SOL Price & Volume

Emeren Group, Ltd. (SOL) stock price & volume — 10-year historical chart

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SOL Growth Metrics

Emeren Group, Ltd. (SOL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-24.65%
5 Years-5.02%
3 Years4.94%
TTM-30.5%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-101.7%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM34.18%

Return on Capital

10 Years2.07%
5 Years0.74%
3 Years-0.87%
Last Year-0.12%

SOL Peer Comparison

Emeren Group, Ltd. (SOL) competitors in Solar project developers and owners — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ARRY logoARRYArray Technologies, Inc.Direct Competitor1.23B8.00-10.9640.22%-5.56%-20.64%2.94
SHLS logoSHLSShoals Technologies Group, Inc.Direct Competitor1.75B10.4252.1019.07%6.27%5.67%0.29
CWEN logoCWENClearway Energy, Inc.Direct Competitor7.69B37.4226.354.23%0.13%0.03%1.72
FSLR logoFSLRFirst Solar, Inc.Product Competitor27.69B257.7018.1424.09%30.73%18.01%0.05
SPWR logoSPWRSunPower Inc.Product Competitor127.72M0.78-11.662.92%-8.66%
RUN logoRUNSunrun Inc.Product Competitor3.23B13.527.9145.11%17.9%12.42%2.99
SEDG logoSEDGSolarEdge Technologies, Inc.Product Competitor3.53B58.05-8.4131.39%-28.56%-79.58%0.99
CSIQ logoCSIQCanadian Solar Inc.Product Competitor1.1B16.27-10.50-6.65%-1.87%-2.39%1.80

Compare SOL vs Peers

Emeren Group, Ltd. (SOL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARRY

Most directly comparable listed peer for SOL.

Scale Benchmark

vs GE

Larger-name benchmark to compare SOL against a more recognizable public peer.

Peer Set

Compare Top 5

vs ARRY, SHLS, CWEN, FSLR

SOL Income Statement

Emeren Group, Ltd. (SOL) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Sales/Revenue
80.5M102.97M96.91M119.12M73.5M79.66M61.29M105.64M92.07M71.23M
Revenue Growth %
-93.72%27.91%-5.89%22.92%-38.29%8.38%-23.06%72.36%-12.85%-30.5%
Cost of Goods Sold
73.27M88.84M68.84M84.89M56.82M48.24M45.95M80.63M67.94M47.05M
COGS % of Revenue
91.02%86.28%71.03%71.27%77.3%60.55%74.98%76.32%73.8%-
Gross Profit
7.23M▲ 0%
14.13M▲ 95.4%
28.07M▲ 98.6%
34.23M▲ 21.9%
16.69M▼ 51.2%
31.42M▲ 88.3%
15.34M▼ 51.2%
25.01M▲ 63.1%
24.12M▼ 3.6%
24.18M▲ 0%
Gross Margin %
8.98%13.72%28.97%28.73%22.7%39.45%25.02%23.68%26.2%33.95%
Gross Profit Growth %
-96.15%95.38%98.62%21.94%-51.25%88.33%-51.2%63.1%-3.56%-
Operating Expenses
4.88M7.58M12.54M35.19M9.91M18.77M17.97M33.67M24.63M59.66M
OpEx % of Revenue
6.07%7.36%12.94%29.54%13.48%23.57%29.32%31.88%26.75%-
Selling, General & Admin
7.38M7.89M11.09M16.51M14.95M17.3M17.62M26.36M23.31M24.82M
SG&A % of Revenue
9.16%7.66%11.44%13.86%20.33%21.72%28.75%24.95%25.32%-
Research & Development
27.29M000000000
R&D % of Revenue
33.89%---------
Other Operating Expenses
-29.78M-313K1.45M18.68M-5.04M1.47M346K7.32M1.31M2.92M
Operating Income
2.35M▲ 0%
6.56M▲ 179.1%
15.53M▲ 136.9%
-964K▼ 106.2%
6.78M▲ 803.3%
12.65M▲ 86.6%
-2.63M▼ 120.8%
-8.66M▼ 228.9%
-504K▲ 94.2%
-35.48M▲ 0%
Operating Margin %
2.92%6.37%16.03%-0.81%9.22%15.88%-4.3%-8.2%-0.55%-49.82%
Operating Income Growth %
-85.6%179.1%136.9%-106.21%803.34%86.61%-120.81%-228.94%94.18%-
EBITDA
4.75M11.03M23.93M6.83M14.12M19.45M4.18M-831K6.41M-27.1M
EBITDA Margin %
5.9%10.71%24.7%5.74%19.21%24.41%6.83%-0.79%6.96%-38.05%
EBITDA Growth %
-76.09%132.25%116.94%-71.45%106.71%37.7%-78.48%-119.86%871.48%-706.16%
D&A (Non-Cash Add-back)
2.4M4.48M8.4M7.8M7.34M6.79M6.82M7.83M6.92M8.38M
EBIT
2.07M7.46M13.61M-1.42M8.53M12.54M536K-697K-7.6M-29.03M
Net Interest Income
-1.84M-3.88M-8.51M-8.34M-5.23M-3.5M-2.51M-411K-559K-1.74M
Interest Income
3.55K51.4K194K823K976K1.66M657.39K1.79M1.43M1.35M
Interest Expense
1.84M3.94M8.7M9.16M6.21M5.15M3.17M2.21M1.99M3.09M
Other Income/Expense
-2.12M-3.03M-10.62M-9.61M-4.46M-5.26M2K5.76M-9.09M3.37M
Pretax Income
226.57K▲ 0%
3.52M▲ 1454.5%
4.91M▲ 39.3%
-10.57M▼ 315.5%
2.32M▲ 121.9%
7.39M▲ 218.6%
-2.63M▼ 135.6%
-2.9M▼ 10.3%
-9.59M▼ 230.4%
-32.12M▲ 0%
Pretax Margin %
0.28%3.42%5.06%-8.88%3.16%9.28%-4.29%-2.75%-10.42%-45.09%
Income Tax
132.09K322.07K-189K1.1M163.04K774.41K1.92M2.53M2.02M2.34M
Effective Tax Rate %
58.3%9.14%-3.85%-10.45%7.03%10.48%-72.86%-87.15%-21.08%-7.28%
Net Income
-34.7M▲ 0%
34.46M▲ 199.3%
1.76M▼ 94.9%
-8.83M▼ 602.0%
2.78M▲ 131.5%
6.86M▲ 146.9%
-4.67M▼ 168.1%
-3.19M▲ 31.8%
-12.48M▼ 291.6%
-5.33M▲ 0%
Net Margin %
-43.1%33.46%1.82%-7.41%3.78%8.61%-7.62%-3.02%-13.55%-7.48%
Net Income Growth %
-583.71%199.31%-94.9%-602.05%131.46%146.95%-168.09%31.81%-291.62%-101.7%
Net Income (Continuing)
94.48K3.2M5.1M-11.68M2.16M6.61M-4.55M-5.43M-11.61M-34.46M
Discontinued Operations
-34.79M31.26M00000000
Minority Interest
0034M42.83M44.12M44.41M41.35M38M37.5M13.14M
EPS (Diluted)
-1.70▲ 0%
1.40▲ 182.4%
0.05▼ 96.7%
-0.22▼ 578.3%
0.06▲ 125.5%
0.10▲ 78.6%
0.09▼ 10.0%
-0.06▼ 162.2%
-0.24▼ 328.6%
-0.10▲ 0%
EPS Growth %
-750%182.35%-96.71%-578.26%125.45%78.57%-10%-162.22%-328.57%34.18%
EPS (Basic)
-1.701.400.05-0.220.060.100.09-0.06-0.24-
Diluted Shares Outstanding
20.22M24.69M38.08M40.6M49.79M69.84M64.92M56.53M51.85M51.34M
Basic Shares Outstanding
20.22M24.69M38.08M40.6M49.17M68.91M64.92M56.53M51.85M51.32M
Dividend Payout Ratio
----------

SOL Balance Sheet

Emeren Group, Ltd. (SOL) balance sheet — assets, liabilities & shareholders' equity

MetricDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Current Assets
507.49M170.07M135.28M103.06M136.75M319.59M194.76M226.45M191.39M178.41M
Cash & Short-Term Investments
3.96M13.43M6.75M24.29M40.59M254.38M107.29M70.17M50.01M84.64M
Cash Only
37.34M13.43M6.75M24.29M40.59M254.38M107.29M70.17M50.01M84.64M
Short-Term Investments
0000000000
Accounts Receivable
5.04M38.67M47.48M21.53M58.07M50.42M71.48M93.82M70.46M38.34M
Days Sales Outstanding
22.85137.08178.8365.96288.37231.03425.69324.17279.32326.07
Inventory
143.98M02.66M0000-49K361K0
Days Inventory Outstanding
717.21-14.08-----1.940.7
Other Current Assets
348.4M107.18M93.08M51.11M27.35M14.52M14.97M39.91M54.27M41.76M
Total Non-Current Assets
580.91M165.62M242.44M216.88M200.19M218.36M312.94M251.9M256.18M271.09M
Property, Plant & Equipment
523.11M154.66M190.79M192.28M168.75M167.15M214.84M198.36M219.34M198.79M
Fixed Asset Turnover
0.15x0.67x0.51x0.62x0.44x0.48x0.29x0.53x0.42x0.34x
Goodwill
00001.02M1.02M1.02M000
Intangible Assets
0000000000
Long-Term Investments
000406.83K0010.05M000
Other Non-Current Assets
42.27M10.91M50.54M23.76M29.24M40.72M73.19M53.54M36.83M72.29M
Total Assets
1.09B▲ 0%
335.7M▼ 69.2%
377.71M▲ 12.5%
319.94M▼ 15.3%
336.94M▲ 5.3%
537.95M▲ 59.7%
507.7M▼ 5.6%
478.35M▼ 5.8%
447.57M▼ 6.4%
449.5M▲ 0%
Asset Turnover
0.07x0.31x0.26x0.37x0.22x0.15x0.12x0.22x0.21x0.16x
Asset Growth %
-19.16%-69.16%12.52%-15.29%5.31%59.66%-5.62%-5.78%-6.44%-13.77%
Total Current Liabilities
904.43M145.2M133.74M109.41M88.31M35.1M43.3M56.99M49.52M41.67M
Accounts Payable
025.79M12.05M20.43M6.31M3.76M7.12M16.2M11.89M4.72M
Days Payables Outstanding
-105.9563.8987.8540.5628.4956.5373.3563.8864.14
Short-Term Debt
595.43M6.61M44.47M38.26M41.02M12.09M12.21M1.39M1.18M2.2M
Deferred Revenue (Current)
504.65K21.03M103K86K900.6K81.61K3.64M8.55M5.93M30.2M
Other Current Liabilities
0464.94K27.23M36.28M2.19M17.98M18.92M23.11M4.86M3.57M
Current Ratio
0.56x1.17x1.01x0.94x1.55x9.11x4.50x3.97x3.87x4.28x
Quick Ratio
0.40x1.17x0.99x0.94x1.55x9.11x4.50x3.97x3.86x4.28x
Cash Conversion Cycle
--129.02-----217.38262.63
Total Non-Current Liabilities
117.83M100.02M119.31M72.99M65.37M54.45M75.76M58.05M60.03M84.3M
Long-Term Debt
28.84M32.51M41.44M3.37M061.51K22.52M22.68M23.52M47.22M
Capital Lease Obligations
067.5M77.88M69.62M65.37M45.69M35.82M31.83M33.02M133.38M
Deferred Tax Liabilities
000008.7M17.42M3.53M3.49M14.98M
Other Non-Current Liabilities
88.99M000000000
Total Liabilities
1.02B245.22M253.05M182.4M153.68M89.55M119.06M115.04M109.55M125.97M
Total Debt
28.84M106.63M176.05M121.28M115.58M57.85M70.55M60.83M63.39M88.77M
Net Debt
586.93M93.2M157.03M96.99M74.99M-196.53M-36.74M-9.35M13.38M4.14M
Debt / Equity
0.44x1.18x1.41x0.88x0.63x0.13x0.18x0.17x0.19x0.27x
Debt / EBITDA
6.07x9.67x7.36x17.75x8.18x2.97x16.86x-9.89x-3.28x
Net Debt / EBITDA
123.57x8.45x6.56x14.20x5.31x-10.11x-8.78x-2.09x-0.15x
Interest Coverage
1.28x1.67x1.78x-0.11x1.09x2.45x-0.83x-3.93x-0.25x-9.38x
Total Equity
66.14M▲ 0%
90.48M▲ 36.8%
124.67M▲ 37.8%
137.55M▲ 10.3%
183.26M▲ 33.2%
448.4M▲ 144.7%
388.64M▼ 13.3%
363.31M▼ 6.5%
338.02M▼ 7.0%
323.52M▲ 0%
Equity Growth %
-40.91%36.79%37.78%10.33%33.24%144.68%-13.33%-6.52%-6.96%-26.81%
Book Value per Share
3.273.663.273.393.686.425.996.436.526.30
Total Shareholders' Equity
66.14M90.48M90.67M94.72M139.14M404M347.29M325.31M300.52M310.38M
Common Stock
476.66M519.23M519.31M530.21M574.5M847.36M806.28M806.71M806.71M806.71M
Retained Earnings
-469.98M-435.52M-433.51M-442.35M-439.57M-432.7M-437.38M-440.56M-453.04M-450.38M
Treasury Stock
-513.14K0000-18.45M-20M-41.94M-49.15M-49.15M
Accumulated OCI
51.23M-2.24M-4.49M-2.86M-3.57M-4.62M-15.11M-13.63M-19.12M-12.01M
Minority Interest
0034M42.83M44.12M44.41M41.35M38M37.5M13.14M

SOL Cash Flow Statement

Emeren Group, Ltd. (SOL) cash flow — operating, investing & free cash flow history

MetricDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations
27.53M18.43M-51.09M55.91M-10.03M-6.42M-35.25M-23.49M-4.29M44.86M
Operating CF Margin %
34.2%17.9%-52.72%46.94%-13.65%-8.05%-57.51%-22.23%-4.66%-
Operating CF Growth %
1145.88%-33.06%-377.19%209.45%-117.95%36.06%-449.41%33.37%81.72%1029.05%
Net Income
-34.7M3.2M5.1M-11.68M2.16M6.61M-4.55M-3.19M-11.61M-5.33M
Depreciation & Amortization
83.21M4.48M8.4M7.8M7.34M6.79M6.82M7.83M6.92M3.92M
Stock-Based Compensation
747K870.62K439.07K348.92K369.19K2.63M1.74M1.44M377K0
Deferred Taxes
1.45B88.05K-1.09M255.54K-303K418.46K4.35M-40K132K78.01K
Other Non-Cash Items
-1.45B65.11M-290K23.9M-5.6M3.93M3.76M8.11M6.13M21.71M
Working Capital Changes
-20.75M-55.32M-63.64M35.29M-14M-26.8M-47.37M-37.64M-6.24M31.22M
Change in Receivables
-30.51M2.08M-18.36M20.77M-18.13M-30.35M-17.72M011.07M36.83M
Change in Inventory
10.47M-24.48B-24.48B102.87K0-129K-740.16K00-168.93K
Change in Payables
-52.55B24.45B24.45B8.24M0-2.7M-2.35M00-2.92M
Cash from Investing
42.16M-156.35M-40.4M-1.6M-3.39M19.39M-37.06M15.31M-15.47M-9.95M
Capital Expenditures
-7.1M-80.31M-40.4M-13.69M-8.25M-11.62M-37.62M-10.75M-15.75M-11.13M
CapEx % of Revenue
8.82%77.99%41.69%11.5%11.22%14.58%61.37%10.17%17.1%15.62%
Acquisitions
3.19M0025.19M-3.9M33.39M2.62M15.9M0190.9K
Investments
----------
Other Investing
36.67M-76.04M0-13.09M8.76M-2.39M7.81M10.16M277K981.72K
Cash from Financing
-62.37M102.4M85.83M-39.31M30.18M204.88M-60.28M-25.26M-5.85M22.07M
Debt Issued (Net)
-27.06M52.9M55.51M-63.29M-11.32M-44.13M-17M-3.54M1.36M22.86M
Equity Issued (Net)
-1000K001000K1000K1000K-1000K-1000K-1000K0
Dividends Paid
0000000000
Share Repurchases
-1.49M0000-18.45M-43.68M-21.94M-7.21M0
Other Financing
-33.82M49.51M30.32M12.99M-3.5M-5.51M0111K0-796.09K
Net Change in Cash
-709K▲ 0%
-23.91M▼ 3271.9%
-4.4M▲ 81.6%
15.67M▲ 455.9%
15.98M▲ 2.0%
213.71M▲ 1237.4%
-147.09M▼ 168.8%
-37.11M▲ 74.8%
-20.16M▲ 45.7%
51.46M▲ 0%
Free Cash Flow
20.43M▲ 0%
-61.88M▼ 402.9%
-91.49M▼ 47.8%
42.22M▲ 146.1%
-18.28M▼ 143.3%
-18.03M▲ 1.4%
-72.87M▼ 304.1%
-34.23M▲ 53.0%
-20.04M▲ 41.5%
33.73M▲ 0%
FCF Margin %
25.38%-60.1%-94.41%35.44%-24.87%-22.64%-118.89%-32.41%-21.77%47.36%
FCF Growth %
239.83%-402.91%-47.83%146.15%-143.3%1.36%-304.07%53.02%41.46%244.41%
FCF per Share
1.01-2.51-2.401.04-0.37-0.26-1.12-0.61-0.390.66
FCF Conversion (FCF/Net Income)
-0.79x0.53x-29.04x-6.33x-3.61x-0.94x7.54x7.37x0.34x-6.33x
Interest Paid
2.97M3.94M8.28M9.04M6.19M5.2M3.17M2.03M1.99M0
Taxes Paid
79.98K42.88K637.53K338.1K509.49K366.35K1.31M1.3M3.58M0

SOL Key Ratios

Emeren Group, Ltd. (SOL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201620172018201920202021202220232024TTM
Return on Equity (ROE)
-38.97%44%1.64%-6.74%1.73%2.17%-1.12%-0.85%-3.56%-1.65%
Return on Invested Capital (ROIC)
0.41%4.08%4.88%-0.27%2.06%3.72%-0.65%-1.84%-0.11%-7.59%
Gross Margin
8.98%13.72%28.97%28.73%22.7%39.45%25.02%23.68%26.2%33.95%
Net Margin
-43.1%33.46%1.82%-7.41%3.78%8.61%-7.62%-3.02%-13.55%-7.48%
Debt / Equity
0.44x1.18x1.41x0.88x0.63x0.13x0.18x0.17x0.19x0.27x
Interest Coverage
1.28x1.67x1.78x-0.11x1.09x2.45x-0.83x-3.93x-0.25x-9.38x
FCF Conversion
-0.79x0.53x-29.04x-6.33x-3.61x-0.94x7.54x7.37x0.34x-6.33x
Revenue Growth
-93.72%27.91%-5.89%22.92%-38.29%8.38%-23.06%72.36%-12.85%-30.5%
Related:SOL Dividend History·SOL Revenue History·SOL Price History·SOL P/E History·SOL Financial Ratios·SOL Institutional Holders

SOL Frequently Asked Questions

Emeren Group, Ltd. (SOL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Emeren Group, Ltd. (SOL) reported $71.2M in revenue for fiscal year 2024.

Emeren Group, Ltd. (SOL) saw revenue decline by 12.8% over the past year.

Emeren Group, Ltd. (SOL) reported a net loss of $5.3M for fiscal year 2024.

Dividend & Returns

Emeren Group, Ltd. (SOL) has a return on equity (ROE) of -3.6%. Negative ROE indicates the company is unprofitable.

Emeren Group, Ltd. (SOL) generated $33.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in SOL back in 2004?

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How much would $100/month in SOL be worth today?

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