Solar industry stocks

The Solar industry has 24 US-listed companies on stockrow and is part of the Technology sector, with a combined market value of $48.0B. First Solar, Inc. (FSLR) is the largest at $21.0B, followed by Nextpower Inc. and Enphase Energy, Inc.. The median Solar stock trades at 11.4× trailing earnings, below the market median of 17.9×, with a median net margin of −7.34% (market: 1.06%). Median revenue growth over the last twelve months is 10.5%. 1 of the 24 pay a dividend; the median yield among payers is 14.5%.

Solar medians

Metric Industry Market
P/E 11.4× 17.9×
P/S 0.6× 1.9×
P/B 0.9× 1.7×
Price to free cash flow 15.1× 14.1×
EV/EBITDA 10.7× 10.9×
EV/Sales 0.9× 2.1×
Earnings yield −16.5% 1.55%
Free cash flow yield −1.15% 0.93%
Gross margin 28.6% 45.1%
Operating margin −7.89% 0.00%
Net margin −7.34% 1.06%
Free cash flow margin −1.48% 0.00%
Return on equity 7.14% 0.51%
Return on assets −3.25% 0.00%
Return on invested capital −4.96% 0.00%
Revenue growth (TTM) 10.5% 7.58%
EPS growth (last fiscal year) 51.5% 14.0%
Revenue growth, 5-year CAGR 13.9% 8.99%
Net income growth, 5-year CAGR 0.00% 0.00%
Debt to equity 0.0× 0.1×
Current ratio 1.5× 1.6×
Net debt to EBITDA 0.2× 0.6×
Market cap $76.5M $676.4M

All 24 companies

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Ticker Company Market cap Price 1D P/E Net margin Revenue growth Dividend yield
FSLR First Solar, Inc. 21.04b 196.97 1.26% 11.37 37.12% (0.72%) —
NXT Nextpower Inc. 14.99b 99.83 (6.44%) 24.47 15.98% 13.67% —
ENPH Enphase Energy, Inc. 3.83b 29.18 (7.51%) 42.48 7.49% (19.90%) —
RUN Sunrun Inc. 2.38b 10.01 13.88% 4.39 14.01% 66.21% —
SEDG SolarEdge Technologies, Inc. 1.61b 26.27 (12.49%) — (17.34%) 26.11% —
SHLS Shoals Technologies Group, Inc. 1.51b 8.97 (2.07%) 39.99 5.84% 49.21% —
ARRY Array Technologies, Inc. 816.24m 5.27 (1.13%) — (12.48%) 1.18% —
DQ DAQO New Energy Corp. 803.92m 11.89 (1.08%) — (45.46%) (20.94%) —
JKS Jinko Holdings Limited - Unsponsored ADR 517.18m 10.36 (2.72%) — (5.87%) (19.06%) 14.48%
TOYO TOYO Co., Ltd. 211.88m 4.94 (4.63%) 4.26 0.00% — —
SPWR CSLM Acquisition Corp. 78.60m 0.25 4.17% — (3.77%) 18.59% —
TYGO Tigo Energy, Inc. 55.44m 0.73 (27.00%) 4.87 11.94% 15.30% —
PN PN Smart Energy Limited 35.11m 2.32 (4.53%) — — — —
SPRU Spruce Power Holding Corporation 24.45m 1.27 (8.63%) — (6.76%) 10.22% —
FTCI FTC Solar, Inc. 23.39m 1.27 (7.97%) — (22.19%) 36.32% —
SMXT Solarmax Technology, Inc. 17.97m 3.79 (8.01%) — (7.91%) 284.69% —
BEEM Beam Global 16.15m 0.70 (10.26%) — (64.60%) (20.49%) —
ASTI Ascent Solar Technologies Inc. 14.48m 1.51 (12.72%) — (4,236.98%) 364.08% —
ZEO Zeo Energy Corp. 14.15m 0.21 (16.00%) — (15.43%) 10.17% —
SUNE SUNation Energy Inc. 13.03m 1.97 (13.60%) — (8.48%) 10.34% —
MAXNQ Maxeon Solar Technologies, Ltd. 12.86m 0.00 0.00% — (120.68%) (54.68%) —
VSTTF Vast Renewables Limited 4.20m 0.00 0.00% — 0.00% — —
SUNWQ Sunworks, Inc. 3.41m 0.00 0.00% — (40.36%) 10.63% —
SNSC SunScout Holding Limited — 0.75 (12.79%) — — — —

Updated 5 November 2026