NYSE:VSLR

Stock Analysis Report

Executive Summary

Vivint Solar, Inc. provides distributed solar energy primarily to residential customers in the United States.

Snowflake

Fundamentals

Concerning outlook with weak fundamentals.


Similar Companies

Share Price & News

How has Vivint Solar's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-4.9%

VSLR

3.6%

US Electrical

1.8%

US Market


1 Year Return

31.7%

VSLR

2.0%

US Electrical

7.3%

US Market

Return vs Industry: VSLR exceeded the US Electrical industry which returned 2% over the past year.

Return vs Market: VSLR exceeded the US Market which returned 7.3% over the past year.


Shareholder returns

VSLRIndustryMarket
7 Day-4.9%3.6%1.8%
30 Day-15.0%-1.2%-0.7%
90 Day-17.5%1.8%0.06%
1 Year31.7%31.7%4.2%2.0%9.7%7.3%
3 Year103.9%103.9%41.1%32.7%46.3%36.9%
5 Year-50.7%-50.7%35.1%21.6%64.5%46.5%

Price Volatility Vs. Market

How volatile is Vivint Solar's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Vivint Solar undervalued compared to its fair value and its price relative to the market?

3.56x

Price to Book (PB) ratio


Share Price vs. Fair Value

Undervalued: Insufficient data to calculate VSLR's fair value to establish if it is undervalued.

Significantly Undervalued: Insufficient data to calculate VSLR's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: VSLR is unprofitable, so we can't compare its PE Ratio to the Electrical industry average.

PE vs Market: VSLR is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate VSLR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: VSLR is overvalued based on its PB Ratio (3.6x) compared to the US Electrical industry average (1.5x).


Next Steps

Future Growth

How is Vivint Solar forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

120.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VSLR is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: VSLR is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: VSLR is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: VSLR's revenue (14.2% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: VSLR's revenue (14.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: VSLR is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Vivint Solar performed over the past 5 years?

30.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: VSLR is unprofitable, but has reduced losses over the past 5 years at a rate of 30.6% per year.

Accelerating Growth: Unable to compare VSLR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: VSLR is unprofitable, making it difficult to compare its past year earnings growth to the Electrical industry (24%).


Return on Equity

High ROE: VSLR has a negative Return on Equity (-76.58%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: VSLR is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: VSLR is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Vivint Solar's financial position?


Financial Position Analysis

Short Term Liabilities: VSLR's short term assets ($271.0M) do not cover its short term liabilities ($303.7M)

Long Term Liabilities: VSLR's short term assets (271.0M) do not cover its long term liabilities (1.8B)


Debt to Equity History and Analysis

Debt Level: VSLR's debt to equity ratio (308.7%) is considered high

Reducing Debt: VSLR's debt to equity ratio has increased from 56.9% to 308.7% over the past 5 years.

Debt Coverage: VSLR's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if VSLR's interest payments on its debt are well covered by EBIT.


Balance Sheet

Inventory Level: VSLR has a high level of physical assets or inventory.

Debt Coverage by Assets: VSLR's debt is not covered by short term assets (assets are 0.2x debt).


Next Steps

Dividend

What is Vivint Solar's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.7%industryaverage2.4%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate VSLR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate VSLR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if VSLR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if VSLR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of VSLR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Vivint Solar's salary, the management and board of directors tenure and is there insider trading?

3.4yrs

Average management tenure


CEO

David Bywater (49yo)

3.4yrs

Tenure

US$3,365,645

Compensation

Mr. David H. Bywater has been Chief Executive Officer of Vivint Solar, Inc. since December 19, 2016 and serves as its President. Mr. Bywater served as the Chief Operating Officer of APX Group Holdings, Inc ...


CEO Compensation Analysis

Compensation vs. Market: David's total compensation ($USD3.37M) is about average for companies of similar size in the US market ($USD2.67M).

Compensation vs Earnings: David's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

3.4yrs

Average Tenure

49yo

Average Age

Experienced Management: VSLR's management team is considered experienced (3.4 years average tenure).


Board Age and Tenure

5.9yrs

Average Tenure

48yo

Average Age

Experienced Board: VSLR's board of directors are considered experienced (5.9 years average tenure).


Insider Trading

Insider Buying: VSLR insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$545,15226 Aug 19
Alexander Dunn
EntityIndividual
Role
Member of the Board of Directors
Director
Shares68,749
Max PriceUS$7.93
SellUS$624,72015 May 19
Alexander Dunn
EntityIndividual
Role
Member of the Board of Directors
Director
Shares100,000
Max PriceUS$6.46
SellUS$41,580,00006 Dec 18
The Blackstone Group Inc.
EntityCompany
Shares8,000,000
Max PriceUS$5.20

Ownership Breakdown


Management Team

  • Rob Kain

    Vice President of Investor Relations

    • Tenure: 0yrs
  • Thomas Plagemann (56yo)

    Chief Commercial Officer & Executive VP of Capital Markets

    • Tenure: 6yrs
    • Compensation: US$2.23m
  • Dana Russell (57yo)

    CFO & Executive VP

    • Tenure: 5.9yrs
    • Compensation: US$3.13m
  • David Bywater (49yo)

    CEO, President & Director

    • Tenure: 3.4yrs
    • Compensation: US$3.37m
  • Bryan Christiansen (45yo)

    Chief Operating Officer

    • Tenure: 3yrs
    • Compensation: US$1.54m
  • L. Allred (41yo)

    Chief Sales Officer

    • Tenure: 3.1yrs
    • Compensation: US$756.18k
  • Mark Trout

    Chief Technology & Information Officer

    • Tenure: 4.6yrs
  • Helen Langan

    Senior Director of Communications

    • Tenure: 0yrs
  • Miranda Barnard

    Vice President of Marketing

    • Tenure: 1.3yrs
  • Dan Black

    Chief Legal Officer

    • Tenure: 3.4yrs

Board Members

  • David D’Alessandro (68yo)

    Director

    • Tenure: 6.2yrs
    • Compensation: US$211.03k
  • Joe Tibbetts (66yo)

    Director

    • Tenure: 5.2yrs
    • Compensation: US$215.00k
  • Peter Wallace (44yo)

    Chairman of the Board

    • Tenure: 5.6yrs
  • Bruce McEvoy (42yo)

    Director

    • Tenure: 6.9yrs
  • David Bywater (49yo)

    CEO, President & Director

    • Tenure: 3.4yrs
    • Compensation: US$3.37m
  • Jay Pauley (41yo)

    Director

    • Tenure: 4.1yrs
  • Todd Pedersen (50yo)

    Director

    • Tenure: 6.9yrs
    • Compensation: US$60.00k
  • Alex Dunn (47yo)

    Director

    • Tenure: 6.9yrs
    • Compensation: US$55.00k

Company Information

Vivint Solar, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Vivint Solar, Inc.
  • Ticker: VSLR
  • Exchange: NYSE
  • Founded: 2011
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Market Cap: US$818.497m
  • Shares outstanding: 121.62m
  • Website: https://www.vivintsolar.com

Number of Employees


Location

  • Vivint Solar, Inc.
  • 1800 West Ashton Boulevard
  • Lehi
  • Utah
  • 84043
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VSLRNYSE (New York Stock Exchange)YesCommon StockUSUSDOct 2014
0VSDB (Deutsche Boerse AG)YesCommon StockDEEUROct 2014

Biography

Vivint Solar, Inc. provides distributed solar energy primarily to residential customers in the United States. It owns and installs solar energy systems through long-term customer contracts. The company als ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 00:36
End of Day Share Price2019/10/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.