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SunPower Corp
NASDAQ:SPWR

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SunPower Corp Logo
SunPower Corp
NASDAQ:SPWR
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Price: 3 USD 4.53% Market Closed
Updated: Mar 29, 2024

Intrinsic Value

SunPower Corp. engages in the design, manufacture, and delivery of solar panels and systems. [ Read More ]

The intrinsic value of one SPWR stock under the Base Case scenario is 14.03 USD. Compared to the current market price of 3 USD, SunPower Corp is Undervalued by 79%.

Key Points:
SPWR Intrinsic Value
Base Case
14.03 USD
Undervaluation 79%
Intrinsic Value
Price
Base Case Scenario

Valuation Backtest
SunPower Corp

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Fundamental Analysis

SunPower's Q4 Review and 2024 Outlook
2023-Q4 Earnings Call

SunPower's Q4 Review and 2024 Outlook

In Q4 2023, SunPower faced a challenging market with higher interest rates, policy changes, and a negative $68 million adjusted EBITDA on $361 million non-GAAP revenue. The company saw a 24% year-over-year bookings drop and 16,000 installations. Despite this, storage attach rates were a highlight, with a 76% rate in the California direct channel and 65% through SunPower Financial, signaling strong consumer interest. A bright spot, SunPower Financial saw a record 65% customer attach rate. To improve profitability, the company secured $200 million in new capital, executed $100 million in annualized run rate savings, and anticipates these savings to materialize by mid-2024. For 2024, SunPower is focused on gross margin and cash flow, projecting 17-19% full-year gross margins and aiming for positive cash flow in the second half of the year, with a trend continuing into 2025. The company will provide full-year EBITDA guidance later after evaluating the impact of restructuring and recapitalization.

Financials

Balance Sheet Decomposition
SunPower Corp

Current Assets 828.8m
Cash & Short-Term Investments 87.4m
Receivables 219.7m
Other Current Assets 521.7m
Non-Current Assets 518.3m
PP&E 177.4m
Intangibles 140m
Other Non-Current Assets 200.9m
Current Liabilities 883.9m
Accounts Payable 220.4m
Accrued Liabilities 165.8m
Short-Term Debt 344.3m
Other Current Liabilities 153.5m
Non-Current Liabilities 157.5m
Long-Term Debt 249k
Other Non-Current Liabilities 157.2m
Efficiency

Earnings Waterfall
SunPower Corp

Revenue
1.7B USD
Cost of Revenue
-1.4B USD
Gross Profit
238.5m USD
Operating Expenses
-417m USD
Operating Income
-178.5m USD
Other Expenses
-68.6m USD
Net Income
-247.1m USD

Free Cash Flow Analysis
SunPower Corp

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
Components
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Fundamental Scores

SPWR Profitability Score
Profitability Due Diligence

SunPower Corp's profitability score is 42/100. The higher the profitability score, the more profitable the company is.

Exceptional 3-Year Average ROE
Exceptional 3-Years Revenue Growth
Positive Gross Profit
Negative Net Income
42/100
Profitability
Score

SunPower Corp's profitability score is 42/100. The higher the profitability score, the more profitable the company is.

SPWR Solvency Score
Solvency Due Diligence

SunPower Corp's solvency score is 25/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Average D/E
Short-Term Solvency
Positive Net Debt
25/100
Solvency
Score

SunPower Corp's solvency score is 25/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

SPWR Price Targets Summary
SunPower Corp

Wall Street analysts forecast SPWR stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for SPWR is 3.73 USD with a low forecast of 1.01 USD and a high forecast of 6.3 USD.

Lowest
Price Target
1.01 USD
66% Downside
Average
Price Target
3.73 USD
24% Upside
Highest
Price Target
6.3 USD
110% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

SPWR Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
Why is insider trading important?

Shareholder Return

SPWR Price
SunPower Corp

1M 1M
-4%
6M 6M
-51%
1Y 1Y
-77%
3Y 3Y
-90%
5Y 5Y
-30%
10Y 10Y
-86%
Annual Price Range
3
52w Low
2.49
52w High
14.68
Price Metrics
Average Annual Return 94.65%
Standard Deviation of Annual Returns 199.96%
Max Drawdown -95%
Shares Statistics
Market Capitalization 526.1m USD
Shares Outstanding 175 354 000
Percentage of Shares Shorted 46.1%

SPWR Return Decomposition
Main factors of price return

What is price return decomposition?

SPWR News

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Last Important Events
SunPower Corp

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Sentiment Analysis
SunPower Corp

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Company Profile

SunPower Corp Logo
SunPower Corp

Country

United States of America

Industry

Semiconductors

Market Cap

526.1m USD

Dividend Yield

0%

Description

SunPower Corp. engages in the design, manufacture, and delivery of solar panels and systems. The company is headquartered in San Jose, California and currently employs 3,660 full-time employees. The company went IPO on 2005-11-17. The firm offers solar + storage solution. Its segments include Residential, Light Commercial (RLC), and Commercial and Industrial (C&I) Solutions. The company offers integrated solar, storage and home energy solutions to customers in the United States and Canada through an array of hardware, software and financing options. Its products include SunPower Equinox, SunPower Helix, SunVault and OneRoof. The company offers SunPower Equinox to its residential business customers and SunPower Helix products for its commercial business customers. The Equinox and Helix systems are pre-engineered modular solutions for residential and light commercial applications, that combine its efficiency solar module technology with integrated plug-and-play power stations, cable management systems and mounting hardware. The company also offers the SunPower InvisiMount residential mounting system in its product portfolio.

Contact

CALIFORNIA
San Jose
51 Rio Robles
+14082405500.0
https://us.sunpower.com/

IPO

2005-11-17

Employees

3 660

Officers

VP of Finance & Treasurer
Mr. Guthrie Dundas

See Also

Discover More
What is the Intrinsic Value of one SPWR stock?

The intrinsic value of one SPWR stock under the Base Case scenario is 14.03 USD.

Is SPWR stock undervalued or overvalued?

Compared to the current market price of 3 USD, SunPower Corp is Undervalued by 79%.