Solar Valuation Multiples and Public Comps

Solar

See analyst estimates and all valuation multiples for Solar

Company	EV	EV/LTM Revenue	EV/LTM EBITDA
Huadian New Energy Group	$78.3B	n/a	n/a
Vistra	$75.4B	n/a	n/a
China Three Gorges	$44.1B	10.2x	12.3x
Brookfield Renewable Partners Canada	$42.5B	n/a	n/a
ACWA POWER	$41.7B	20.8x	34.4x
Orsted	$39.4B	n/a	n/a
China Resources Power	$36.9B	2.7x	7.0x
Adani Power	$35.9B	5.6x	14.6x
Longyuan Power	$34.0B	7.3x	9.3x
Datang International	$31.6B	1.8x	6.2x
Gulf Development	$29.7B	7.2x	30.1x
First Solar	$28.3B	n/a	n/a
Adani Green Energy	$28.1B	17.7x	21.5x
EDP Renovaveis	$27.3B	n/a	n/a
Brookfield Renewable	$21.4B	3.7x	7.6x
Shanghai Electric Power	$21.3B	n/a	n/a
Tohoku Electric Power	$19.2B	n/a	n/a
Sunrun	$18.5B	n/a	n/a
LONGi	$17.0B	1.7x	49.6x
JSW Energy	$16.8B	7.8x	15.3x
Public Power Corporation	$15.5B	n/a	n/a
ACCIONA Energía	$14.6B	4.2x	7.9x
NHPC	$13.7B	10.4x	18.3x
Nextpower	$13.4B	n/a	n/a
Capital Power	$11.7B	n/a	n/a
Algonquin Power	$11.3B	4.7x	11.3x
Enlight Renewable Energy	$10.1B	n/a	n/a
Ormat Technologies	$9.6B	n/a	n/a
Trina Solar	$9.4B	n/a	n/a
ReNew	$9.4B	n/a	n/a
Jinko Solar	$9.3B	n/a	n/a
Uniper	$9.3B	n/a	n/a
CSI Solar	$8.6B	1.5x	10.9x
Torrent Power	$8.4B	2.4x	13.1x
Northland Power	$8.2B	n/a	n/a
TransAlta	$7.6B	n/a	n/a
Canadian Solar	$7.3B	n/a	n/a
SJVN	$6.6B	n/a	n/a
XPLR Infr	$6.1B	n/a	n/a
AIKO Solar	$5.3B	n/a	n/a
Energix-Renewable	$5.2B	n/a	n/a
Xinyi Solar	$5.2B	n/a	n/a
JinkoSolar	$5.1B	0.5x	69.4x
Boralex	$5.1B	n/a	n/a
Solaria Energia	$4.2B	n/a	n/a
Premier Energies	$4.2B	n/a	n/a
Enphase Energy	$4.1B	2.8x	9.1x
Scatec	$4.1B	8.0x	9.8x
Grenergy Renovables	$3.8B	n/a	n/a
Voltalia	$3.7B	5.6x	15.3x
Doral Group Renewable	$3.6B	n/a	n/a
Reliance Power	$3.1B	n/a	n/a
Solaris Energy	$2.9B	n/a	n/a
Nofar Energy	$2.8B	n/a	n/a
Margun Enerji Uretim	$2.8B	n/a	n/a
Array Technologies	$2.4B	n/a	n/a
Meshek Energy Renewable	$2.3B	n/a	n/a
Banpu Power	$2.2B	3.0x	10.5x
Alerion CleanPower	$2.0B	n/a	n/a
PNEGroup	$2.0B	n/a	n/a
SolarEdge	$1.8B	n/a	n/a
Shoals	$1.7B	n/a	n/a
Emmvee Photovoltaic Power	$1.7B	n/a	n/a
Naturenergie Holding	$1.2B	n/a	n/a
Econergy Renewable Energy	$1.2B	n/a	n/a
SMA Solar Technology	$1.2B	n/a	n/a
Waaree RTL	$1.1B	n/a	n/a
Energiekontor	$1.0B	5.2x	11.3x
Ecoener	$894M	n/a	n/a
Aydem Yenilenebilir	$885M	n/a	n/a
CW Enerji	$851M	n/a	n/a
West Holdings	$762M	n/a	n/a
Spruce Power	$733M	n/a	n/a
Akfen Yenilenebilir	$729M	n/a	n/a
IC Enterra Yenilenebilir	$711M	n/a	n/a
Lydia Yesil Enerji	$602M	n/a	n/a
Sterling and Wilson	$571M	0.7x	16.8x
Smart Gunes	$537M	n/a	n/a
ABO Energy	$454M	1.4x	14.3x
Alfa Solar Enerji	$394M	n/a	n/a
Edisun Power	$374M	n/a	n/a
Cox Energy America	$363M	n/a	n/a
Maxeon Solar Technologies	$353M	n/a	n/a
7C Solarparken	$338M	n/a	n/a
Esenboga Elektrik Uretim	$302M	n/a	n/a
Toyo Co	$270M	n/a	n/a
Meyer Burger Tech	$250M	n/a	n/a
Photon Energy	$230M	1.9x	21.8x
Alternus Energy Group	$213M	n/a	n/a
FTC Solar	$176M	1.8x	-5.4x
Altea Green Power	$157M	n/a	n/a
Abalance	$153M	n/a	n/a
Clearvise	$150M	3.0x	4.6x
Onde	$144M	n/a	n/a
Gigasun	$143M	n/a	n/a
Entech	$139M	n/a	n/a
GCL Global Holdings	$124M	n/a	n/a
Umbrella Global Energy	$119M	n/a	n/a
PowerBank	$117M	2.6x	90.9x
Tigo Energy	$116M	n/a	n/a
Columbus Energy	$113M	n/a	n/a
EiDF SOLAR	$103M	n/a	n/a
Midsummer	$89.2M	n/a	n/a
Vivopower International	$74.0M	4627.3x	n/a
ML System	$70.2M	n/a	n/a
SolTech Energy Sweden	$68.5M	n/a	n/a
SolarMax Technology	$64.6M	n/a	n/a
Holaluz	$61.0M	0.4x	-90.2x
Saule Technologies	$60.3M	n/a	n/a
Sunex	$59.7M	n/a	n/a
Solarium Green Energy	$59.7M	n/a	n/a
AmonRa Energy	$42.6M	n/a	n/a
Zeo Energy	$39.0M	n/a	n/a
E4U akciova spolocnost	$33.2M	n/a	n/a
Otovo	$26.8M	n/a	n/a
Lemon Sistemi	$20.2M	1.4x	8.5x
Turbo Energy	$17.6M	n/a	n/a
Skycorp Solar Group	$15.8M	n/a	n/a
Founder Group Limited	$13.0M	n/a	n/a
Remor Solar Polska	$12.6M	n/a	n/a
Energeia	$12.3M	n/a	n/a
Profithol	$11.4M	n/a	n/a
Starhedge	$8.0M	n/a	n/a
Erato Energy	$6.3M	n/a	n/a
Niutech	$5.4M	0.3x	-2.8x
T&T Proenergy	$5.1M	n/a	n/a
Voolt	$4.1M	n/a	n/a
Foto Volt Eko Energia	$2.7M	n/a	n/a
Absolicon Solar Collector	$1.6M	11.0x	n/a
Windon Energy Group	$1.6M	n/a	n/a
Gosol Energy Group	$0.8M	n/a	n/a