NOVAQ (Sunnova Energy International) ROC %: 0.35% (As of Dec. 2024)

What is Sunnova Energy International ROC %?

Sunnova Energy International NOVAQ ROC % is 0.35% as of Dec. 2024.

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Sunnova Energy International's annualized return on capital (ROC %) for the quarter that ended in Dec. 2024 was 0.35%.

As of today (2026-06-25), Sunnova Energy International's WACC % is 0.00%. Sunnova Energy International's ROC % is 0.00% (calculated using TTM income statement data). Sunnova Energy International earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Sunnova Energy International (OTCPK:NOVAQ) ROC % Explanation

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, Sunnova Energy International's WACC % is 0.00%. Sunnova Energy International's ROC % is 0.00% (calculated using TTM income statement data). Sunnova Energy International earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Be Aware

Like ROE % and ROA %, ROC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Sunnova Energy International ROC % Related Terms

Sunnova Energy International ROC % Historical Data

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The historical data trend for Sunnova Energy International's ROC % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Sunnova Energy International ROC % Chart

Sunnova Energy International Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

ROC %

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-1.28

-1.31

-1.27

-2.20

-1.18

Sunnova Energy International Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
ROC %	Get a 7-Day Free Trial															-2.21	-2.02	-1.07	-1.32	0.35

Sunnova Energy International ROC % Calculation

Sunnova Energy International's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2024 is calculated as:

	ROC % (A: Dec. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2023 )	+	Invested Capital (A: Dec. 2024 ))	/ count )
=	-184.716 * ( 1 - 24.4% )	/	( (10954.222	+	12745.473)	/ 2 )
=	-139.645296	/	11849.8475
=	-1.18 %

where

	Invested Capital		(A: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	11340.971	-	545.793	-	( 212.832	-	max(0, 1095.292	-	936.248	+	212.832	))
=	10954.222

	Invested Capital		(A: Dec. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	13353.699	-	904.474	-	( 211.192	-	max(0, 1323.751	-	1027.503	+	211.192	))
=	12745.473

Sunnova Energy International's annualized Return on Capital (ROC %) for the quarter that ended in Dec. 2024 is calculated as:

	ROC % (Q: Dec. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2024 )	+	Invested Capital (Q: Dec. 2024 ))	/ count )
=	43.684 * ( 1 - 0% )	/	( (12367.648	+	12745.473)	/ 2 )
=	43.684	/	12556.5605
=	0.35 %

where

	Invested Capital		(Q: Sep. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	12882.312	-	659.098	-	( 208.913	-	max(0, 1059.026	-	914.592	+	208.913	))
=	12367.648

	Invested Capital		(Q: Dec. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	13353.699	-	904.474	-	( 211.192	-	max(0, 1323.751	-	1027.503	+	211.192	))
=	12745.473

Note: The Operating Income data used here is four times the quarterly (Dec. 2024) data. The tax rate is limited to between 0% and 100%.

Frequently Asked Questions Learn more about ROC % →

What does a ROC % of 0.35% mean?

Sunnova Energy International (NOVAQ) has a ROC % of 0.35% as of Dec. 2024. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Sunnova Energy International and its competitors.

Is Sunnova Energy International's ROC % too high?

Sunnova Energy International's current ROC % is 0.35%. The Semiconductors industry median ROC % is 3.74. Sunnova Energy International's value of 0.35% is 90.6% below this industry median.

How does Sunnova Energy International's ROC % compare to VSTTF and SING?

Sunnova Energy International's ROC % of 0.35% can be compared against companies in the Semiconductors industry. The industry median ROC % is 3.74. Sunnova Energy International's value of 0.35% is 90.6% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROC % for a Semiconductors company?

The median ROC % among Semiconductors companies is 3.74, based on 1,012 companies in the industry. Companies in the top quartile (top 25%) have a ROC % significantly above this median, while those in the bottom quartile fall well below. However, ROC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Sunnova Energy International's current ROC % of 0.35% is 90.6% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high ROC % mean?

A high ROC % can signal that a stock is expensive relative to its fundamentals. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Sunnova Energy International and its competitors. For the Semiconductors industry, the median ROC % is 3.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sunnova Energy International's current ROC % is 0.35%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Sunnova Energy International stock overvalued right now?

Sunnova Energy International (NOVAQ) has a current ROC % of 0.35%. The current ROC % is 0.35% and 90.6% below the Semiconductors industry median of 3.74. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROC % calculated?

ROC % is calculated from a company's financial statements. For Sunnova Energy International (NOVAQ), the current ROC % is 0.35% as of Dec. 2024. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Sunnova Energy International Business Description

Industry Technology Semiconductors

Comparable Companies VSTTF SING APWL FSLR SHSE:600438 NXT NSE:WAAREEENER SHSE:688472 SHSE:688223 SHSE:688599 SZSE:002459 HKSE:06865 RUN HKSE:03800 NSE:PREMIERENE ENPH SHSE:600732 HKSE:00968 XKRX:009830 SZSE:300118

Address 20 East Greenway Plaza, Suite 540, Houston, TX, USA, 77046

Website https://www.sunnova.com

Sunnova Energy International Inc is a residential solar energy products and services provider company. It offers services such as operations and maintenance, monitoring, repairs and replacements, equipment upgrades, and onsite power optimization. The products and services offered by the group include Add-on battery storage, Home solar protection plans, New solar battery storage, and various other solar systems. It operates in a single reportable segment: solar energy products and services.