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AZRE

Azure Power Global NYSE:AZRE Stock Report

Last Price

US$11.60

Market Cap

US$744.3m

7D

4.9%

1Y

-52.9%

Updated

06 Jul, 2022

Data

Company Financials +
AZRE fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance0/6
Financial Health0/6
Dividends0/6

AZRE Stock Overview

Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of renewable energy projects in India.

Azure Power Global Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Azure Power Global
Historical stock prices
Current Share PriceUS$11.60
52 Week HighUS$27.41
52 Week LowUS$10.61
Beta0.80
1 Month Change-27.04%
3 Month Change-29.40%
1 Year Change-52.88%
3 Year Change10.48%
5 Year Change-32.68%
Change since IPO-20.55%

Recent News & Updates

Shareholder Returns

AZREUS Renewable EnergyUS Market
7D4.9%-1.0%0.3%
1Y-52.9%-10.8%-18.4%

Return vs Industry: AZRE underperformed the US Renewable Energy industry which returned -10.8% over the past year.

Return vs Market: AZRE underperformed the US Market which returned -18.4% over the past year.

Price Volatility

Is AZRE's price volatile compared to industry and market?
AZRE volatility
AZRE Average Weekly Movement14.0%
Renewable Energy Industry Average Movement11.8%
Market Average Movement8.1%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.3%

Stable Share Price: AZRE is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: AZRE's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
2008471Harsh Shahhttps://www.azurepower.com

Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of renewable energy projects in India. It generates solar energy based on long-term contracts with Indian government energy distribution companies, as well as other non-governmental energy distribution companies and commercial customers. As of March 31, 2021, the company operated 45 utility scale projects with a combined rated capacity of 1,990 MWs.

Azure Power Global Fundamentals Summary

How do Azure Power Global's earnings and revenue compare to its market cap?
AZRE fundamental statistics
Market Cap₹58.83b
Earnings (TTM)-₹3.01b
Revenue (TTM)₹17.58b

3.3x

P/S Ratio

-19.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AZRE income statement (TTM)
Revenue₹17.58b
Cost of Revenue₹1.47b
Gross Profit₹16.11b
Other Expenses₹19.12b
Earnings-₹3.01b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-46.91
Gross Margin91.63%
Net Profit Margin-17.12%
Debt/Equity Ratio503.4%

How did AZRE perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is AZRE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AZRE?

Other financial metrics that can be useful for relative valuation.

AZRE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue10.3x
Enterprise Value/EBITDA11.7x
PEG Ration/a

Price to Sales Ratio vs Peers

How does AZRE's PS Ratio compare to its peers?

AZRE PS Ratio vs Peers
The above table shows the PS ratio for AZRE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average9x
AMPS Altus Power
12.6x50.4%US$961.9m
MNTK Montauk Renewables
9.2x11.8%US$1.4b
NOVA Sunnova Energy International
8.3x27.2%US$2.2b
ELLO Ellomay Capital
6xn/aUS$292.4m
AZRE Azure Power Global
3.3x18.3%US$787.9m

Price-To-Sales vs Peers: AZRE is good value based on its Price-To-Sales Ratio (3.3x) compared to the peer average (8.9x).


Price to Earnings Ratio vs Industry

How does AZRE's PE Ratio compare vs other companies in the US Renewable Energy Industry?

Price-To-Sales vs Industry: AZRE is good value based on its Price-To-Sales Ratio (3.3x) compared to the US Renewable Energy industry average (4.7x)


Price to Sales Ratio vs Fair Ratio

What is AZRE's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AZRE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.3x
Fair PS Ratio11.4x

Price-To-Sales vs Fair Ratio: AZRE is good value based on its Price-To-Sales Ratio (3.3x) compared to the estimated Fair Price-To-Sales Ratio (11.4x).


Share Price vs Fair Value

What is the Fair Price of AZRE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate AZRE's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate AZRE's fair value for valuation analysis.


Price to Earnings Growth Ratio

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


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Future Growth

How is Azure Power Global forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


98.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AZRE is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: AZRE is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: AZRE is expected to become profitable in the next 3 years.

Revenue vs Market: AZRE's revenue (18.3% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: AZRE's revenue (18.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AZRE's Return on Equity is forecast to be low in 3 years time (10.1%).


Discover growth companies

Past Performance

How has Azure Power Global performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-28.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AZRE is currently unprofitable.

Growing Profit Margin: AZRE is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AZRE is unprofitable, and losses have increased over the past 5 years at a rate of 28.8% per year.

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

Earnings vs Industry: AZRE is unprofitable, making it difficult to compare its past year earnings growth to the Renewable Energy industry (-12.6%).


Return on Equity

High ROE: AZRE has a negative Return on Equity (-12.63%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Azure Power Global's financial position?

Financial Health Score

0/6

Financial Health Score 0/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: AZRE's short term assets (₹24.4B) do not cover its short term liabilities (₹40.0B).

Long Term Liabilities: AZRE's short term assets (₹24.4B) do not cover its long term liabilities (₹102.3B).


Debt to Equity History and Analysis

Debt Level: AZRE's net debt to equity ratio (467.4%) is considered high.

Reducing Debt: AZRE's debt to equity ratio has increased from 192.8% to 503.4% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: AZRE has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if AZRE has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


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Dividend

What is Azure Power Global current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

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


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as AZRE has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average board tenure


CEO

Harsh Shah (39 yo)

no data

Tenure

Mr. Harsh Dinesh Shah served as Chief Executive Officer at IndiGrid Investment Managers Limited (IIML), Investment Manager for India Grid Trust and serves as its Whole-Time Director. He was Chief Financial...


Board Members

Experienced Board: AZRE's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 33.2%.


Top Shareholders

Company Information

Azure Power Global Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Azure Power Global Limited
  • Ticker: AZRE
  • Exchange: NYSE
  • Founded: 2008
  • Industry: Renewable Electricity
  • Sector: Utilities
  • Implied Market Cap: US$744.273m
  • Shares outstanding: 64.16m
  • Website: https://www.azurepower.com

Number of Employees


Location

  • Azure Power Global Limited
  • Southern Park
  • 5th Floor
  • New Delhi
  • Delhi
  • 110017
  • India

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/06 00:00
End of Day Share Price2022/07/06 00:00
Earnings2021/12/31
Annual Earnings2021/03/31


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.