Sunnova Energy International Inc.

NYSE:NOVA Stock Report

Market Cap: US$462.3m

Sunnova Energy International Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

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

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

Key Valuation Metric

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

Key metric: As NOVA is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for NOVA. This is calculated by dividing NOVA's market cap by their current revenue.
What is NOVA's PS Ratio?
PS Ratio0.6x
SalesUS$809.98m
Market CapUS$462.32m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for NOVA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3x
AMPS Altus Power
3.1x17.5%US$568.0m
MNTK Montauk Renewables
2.7x16.3%US$534.9m
ELLO Ellomay Capital
4.8xn/aUS$214.6m
NEP NextEra Energy Partners
1.4x5.1%US$1.6b
NOVA Sunnova Energy International
0.6x17.9%US$462.3m

Price-To-Sales vs Peers: NOVA is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (3x).

Price to Sales Ratio vs Industry

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

1 CompanyPrice / SalesEstimated GrowthMarket Cap
AZRE.F Azure Power Global
0.2xn/aUS$48.12m
No more companies available in this PS range
NOVA 0.6xIndustry Avg. 2.2xNo. of Companies5PS0246810+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: NOVA is good value based on its Price-To-Sales Ratio (0.6x) compared to the North American Renewable Energy industry average (2.2x).

Price to Sales Ratio vs Fair Ratio

What is NOVA'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.

NOVA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio2.5x

Price-To-Sales vs Fair Ratio: NOVA is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (2.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NOVA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$3.70
US$10.73
+190.0%
40.0%US$20.00US$3.50n/a25
Dec ’25US$5.54
US$11.30
+104.0%
35.7%US$20.00US$3.50n/a24
Nov ’25US$5.73
US$12.18
+112.5%
27.6%US$20.00US$6.25n/a24
Oct ’25US$9.10
US$12.71
+39.7%
28.2%US$20.00US$6.00n/a24
Sep ’25US$11.11
US$12.40
+11.6%
27.7%US$20.00US$6.00n/a25
Aug ’25US$8.30
US$11.24
+35.4%
33.9%US$20.00US$4.00n/a25
Jul ’25US$5.23
US$10.72
+105.0%
40.6%US$20.00US$4.00n/a25
Jun ’25US$5.22
US$11.04
+111.5%
39.7%US$20.00US$4.00n/a26
May ’25US$3.53
US$14.09
+299.1%
36.7%US$26.00US$6.00n/a26
Apr ’25US$5.67
US$17.70
+212.1%
33.8%US$35.00US$8.00n/a28
Mar ’25US$7.24
US$19.02
+162.7%
31.2%US$35.00US$9.00n/a26
Feb ’25US$10.80
US$20.64
+91.1%
27.6%US$35.00US$13.00n/a25
Jan ’25US$15.25
US$19.93
+30.7%
29.7%US$35.00US$10.00n/a27
Dec ’24US$12.58
US$20.07
+59.6%
45.7%US$58.00US$10.00US$5.5427
Nov ’24US$9.01
US$20.08
+122.8%
46.5%US$58.00US$10.00US$5.7326
Oct ’24US$10.47
US$29.63
+183.0%
30.9%US$58.00US$14.00US$9.1024
Sep ’24US$14.03
US$30.63
+118.3%
28.4%US$58.00US$18.00US$11.1124
Aug ’24US$17.73
US$32.42
+82.8%
33.3%US$63.00US$19.00US$8.3024
Jul ’24US$18.31
US$33.75
+84.3%
30.0%US$63.00US$19.00US$5.2324
Jun ’24US$18.16
US$33.54
+84.7%
29.8%US$63.00US$19.00US$5.2224
May ’24US$17.23
US$34.32
+99.2%
28.8%US$63.00US$19.00US$3.5325
Apr ’24US$15.62
US$34.96
+123.8%
28.7%US$60.00US$17.00US$5.6723
Mar ’24US$17.60
US$35.57
+102.1%
27.0%US$60.00US$23.00US$7.2423
Feb ’24US$20.08
US$36.18
+80.2%
22.4%US$51.00US$23.00US$10.8022
Jan ’24US$18.01
US$37.00
+105.4%
21.4%US$51.00US$25.00US$15.2523
Dec ’23US$21.97
US$37.41
+70.3%
20.7%US$51.00US$25.00US$12.5822

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 08:30
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Sunnova Energy International Inc. is covered by 39 analysts. 24 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Benjamin KalloBaird
Moses SuttonBarclays
Christine ChoBarclays