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Public Comps and Valuation Multiples for Clean Technology

Benchmark revenue and EBITDA valuation multiples for public comps like
First Solar, Nextpower, Tongwei, Enphase Energy and Jinko Solar.

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Clean Technology

Viewing 50 of 104 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
First Solar	$34B	$32B	$5B	6.2x	12.9x
Nextpower	$23B	$22B	$4B	6.1x	25.8x
Tongwei	$9B	$19B	$13B	1.4x	16.0x
Enphase Energy	$9B	$9B	$1B	6.4x	21.5x
Jinko Solar	$8B	$10B	$10B	1.0x	14.0x
Baosight	$7B	$6B	$2B	3.8x	21.9x
CSI Solar	$6B	$7B	$6B	1.2x	8.8x
Premier Energies	$5B	$5B	$920M	5.6x	19.1x
Trina Solar	$5B	$8B	$11B	0.7x	-
SolarEdge	$4B	$4B	$1B	3.4x	(71.9x)
AIKO Solar	$4B	$5B	$3B	1.9x	23.2x
Sunrun	$4B	$18B	$3B	6.0x	26.3x
Nofar Energy	$3B	$6B	-	-	-
TGS	$3B	$4B	$2B	2.4x	4.1x
Xinyi Solar	$3B	$4B	$3B	1.4x	6.4x
SMA Solar Technology	$3B	$2B	$2B	1.4x	74.0x
Shoals	$2B	$2B	$538M	4.4x	21.5x
Longshine Technology	$2B	$2B	$707M	2.9x	34.9x
Ballard Power Systems	$2B	$1B	$108M	12.4x	(17.4x)
Hydrograph Clean Power	$2B	$2B	-	-	-
Ygsoft	$2B	$1B	$395M	3.8x	21.7x
Borregaard	$2B	$2B	$814M	2.2x	9.3x
Array Technologies	$1B	$2B	$1B	1.8x	12.2x
Canadian Solar	$1B	$8B	$6B	1.3x	12.8x
JinkoSolar	$1B	$6B	$10B	0.5x	40.8x
CW Enerji	$937M	$1B	-	-	-
PSI Software	$818M	$886M	$346M	2.6x	66.2x
RPMGlobal	$780M	$730M	$64M	11.4x	181.5x
Hansen Technologies	$671M	$720M	$286M	2.5x	8.3x
Toyo	$643M	$657M	$601M	1.1x	4.7x
Suzhou Thvow Technology	$642M	$1B	-	-	-
Kalyon Güneş Teknolojileri	$563M	$563M	-	-	-
Aduro Clean Technologies	$541M	$512M	$188K	2727.8x	(42.7x)
Chrysos Corp.	$517M	$539M	$62M	8.6x	28.0x
Zhejiang Netsun	$514M	$434M	-	-	-
Smart Gunes Enerjisi Tek	$488M	$717M	-	-	-
Alfa Solar	$467M	$512M	-	-	-
NYAB	$432M	$407M	$664M	0.6x	8.6x
Envipco Holding	$335M	$316M	$131M	2.4x	71.2x
Energy One	$293M	$300M	$50M	6.0x	22.2x
Tigo Energy	$272M	$263M	$116M	2.3x	36.0x
eVISO	$264M	$252M	$382M	0.7x	17.8x
Graphene Manufacturing Group	$230M	$220M	$158K	1395.3x	-
Computer Modelling Group	$220M	$231M	$92M	2.5x	8.8x
Altea Green Power	$150M	$144M	$32M	4.4x	7.8x
Pyrum Innovations	$127M	$145M	$7M	21.1x	(24.9x)
NextNRG	$109M	$134M	$92M	1.5x	(11.0x)
FTC Solar	$87M	$105M	$123M	0.9x	(5.0x)
Umbrella Global Energy	$85M	$118M	-	-	-
Stem	$82M	$375M	$156M	2.4x	41.0x
Otovo	$77M		$77M
Razor Labs	$73M		-
Infragreen Group	$71M		-
Hazer Group	$70M		$3M
Midsummer	$66M		-
Columbus Energy	$64M		-
Spruce Power	$52M		$112M
NH3 Clean Energy	$46M		-
Skycorp Solar Group	$44M		-
Maps	$38M		$39M
E4U	$38M		-
SolTech Energy Sweden	$37M		-
AmonRa Energy	$36M		-
Saule Technologies	$35M		-
Holaluz	$32M		-
Beam Global	$32M		$30M
ML System	$31M		-
Zeo Energy	$31M		-
SolarMax Technology	$30M		-
CHAR Technologies	$26M		$3M
Informetis	$24M		$3M
Dotz Nano	$22M		-
Turbo Energy	$21M		-
Lemon Sistemi	$17M		$15M
Energisme	$17M		$7M
Astrasun Solar	$17M		-
Sunex	$17M		-
Gigasun	$14M		-
EPX	$12M		$10M
Rubicon Water	$12M		$50M
NoviqTech	$12M		-
Profithol	$11M		-
Remor Solar Polska	$11M		-
Absolicon	$9M		$2M
Optec International	$8M		-
Acceleware	$8M		-
Energeia	$8M		-
ReTo Eco-Solutions	$8M		-
Starhedge	$6M		-
PT Sky Energy Indonesia Tbk	$6M		-
Gosol Energy Group	$5M		-
Erato Energy	$5M		-
Maxeon Solar Technologies	$4M		-
Voolt	$4M		-
Acadia Energy	$3M		-
Niutech	$3M		-
Fotovolt Eko Energia	$2M		-
T&T Proenergy	$2M		-
Windon Energy Group	$1M		-
Meyer Burger	$948K		-
Petroteq Energy	$80K		-
Renovare Environmental	$4K		-
Rubicon Technologies	-		-
Klappir	-		-