20-quarter listed-company comparison

Solar Stocks

Solar: Canadian Solar Inc. owns the largest revenue base; Tigo Energy, Inc. has the fastest current growth.

01 · the industry itself · before any single company

How has Solar moved against S&P 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this industry is 5% behind S&P 500. Earnings across its companies grew 6% on average over the last four reported quarters — close to flat.

FADING · −1 in 4w✓Moving with the index3 of 10 companies ahead of S&P 500 by 5% or more over three months

RS — · 4/10 >200d (+0) · 3/10 lead (−1) · EPS 7/10↑

Solar, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 10 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

02 · sector relative strength, before individual stocks

Is Solar outperforming S&P 500?

Solar has outperformed S&P 500 by 32.9% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 20.5%. 1 of 10 covered companies currently beats the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. SolarEdge Technologies, Inc. is the strongest against the sector itself at +20.8%.

-20.5%Sector vs S&P 500 · 13 weeks

+32.9%Sector vs S&P 500 · 52 weeks

1/10Stocks leading S&P 500

4/10Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Solar has outperformed S&P 500 by 32.9% over 52 weeks and 20.5% over 13 weeks. 1 of 10 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 10 beat the sector itself. Canadian Solar Inc. leads with revenue of $5,476 million, based on 6 of 10 comparable companies through Mar 2026.

Companies

complete canonical membership

Combined market value

$56.2B

First Solar, Inc.

Revenue growing

5/6

positive TTM year-on-year growth

Beating S&P 500

1/10

positive Mansfield relative strength

Comparing 5 of 10

03 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

First Solar, Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 55.5% evidence confidence.

Enphase Energy, Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1First Solar, Inc.FSLR	60.8/100Thin evidence · provisional56% evidence	TURNING	19.5/35 Revenue — · PAT — · OPM change 6.9 pp 39% evidence	16.1/25 ROCE 4.2% · OPM 33.1% 76% evidence	10.8/20 P/E 14.5× · PEG — 15% evidence	14.4/20 RS sector 6.4% · RS bench -5% · 1Y 31.9%7 of 12 weeks ahead 100% evidence
Exact sum: 19.5 + 16.1 + 10.8 + 14.4 = 60.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
2Shoals Technologies Group, Inc.SHLS	56.8/100Thin evidence · provisional55% evidence	FADING	18.5/35 Revenue 38.1% · PAT 70% · OPM change 0.1 pp 40% evidence	11.8/25 ROCE 1% · OPM 5.5% 57% evidence	12.0/20 P/E 32.9× · PEG 1.27 65% evidence	14.5/20 RS sector 8.7% · RS bench -3.6% · 1Y 95.3%9 of 12 weeks ahead 70% evidence
Exact sum: 18.5 + 11.8 + 12 + 14.5 = 56.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3Enphase Energy, Inc.ENPH	55.6/100Thin evidence · provisional56% evidence	TURNING	17.5/35 Revenue — · PAT — · OPM change -19.5 pp 39% evidence	12.3/25 ROCE 2.4% · OPM -10.5% 76% evidence	9.5/20 P/E 49.2× · PEG — 15% evidence	16.3/20 RS sector 7.6% · RS bench -4.7% · 1Y 28.8%10 of 12 weeks ahead 100% evidence
Exact sum: 17.5 + 12.3 + 9.5 + 16.3 = 55.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4SolarEdge Technologies, Inc.SEDG	52.3/100Thin evidence · provisional51% evidence	TURNING	19.0/35 Revenue 35.5% · PAT — · OPM change 29.1 pp 40% evidence	6.4/25 ROCE -3.8% · OPM -17.7% 57% evidence	8.5/20 P/E 156× · PEG — 15% evidence	18.4/20 RS sector 20.8% · RS bench 6.4% · 1Y 95.5%7 of 12 weeks ahead 100% evidence
Exact sum: 19 + 6.4 + 8.5 + 18.4 = 52.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5Nextpower Inc.NXT	49.2/100Thin evidence · provisional56% evidence	ASLEEP	15.2/35 Revenue — · PAT — · OPM change -3.7 pp 39% evidence	17.5/25 ROCE 6.9% · OPM 17.4% 76% evidence	10.2/20 P/E 29.2× · PEG — 15% evidence	6.3/20 RS sector -1% · RS bench -13.2% · 1Y 75.1%2 of 12 weeks ahead 100% evidence
Exact sum: 15.2 + 17.5 + 10.2 + 6.3 = 49.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6Canadian Solar Inc.CSIQ	47.1/100Thin evidence · provisional51% evidence	FADING	18.1/35 Revenue -6.6% · PAT — · OPM change 11.4 pp 40% evidence	10.8/25 ROCE 0.8% · OPM 6.8% 57% evidence	10.5/20 P/E 20.6× · PEG — 15% evidence	7.7/20 RS sector -5.6% · RS bench -16.3% · 1Y 40.6%2 of 12 weeks ahead 100% evidence
Exact sum: 18.1 + 10.8 + 10.5 + 7.7 = 47.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7Sunrun Inc.RUN	40.4/100Thin evidence · provisional51% evidence	ASLEEP	20.1/35 Revenue 52.4% · PAT — · OPM change 16.8 pp 40% evidence	7.3/25 ROCE -0.2% · OPM -6% 57% evidence	11.2/20 P/E 6.4× · PEG — 15% evidence	1.8/20 RS sector -30.7% · RS bench -37.8% · 1Y -6.9%2 of 12 weeks ahead 100% evidence
Exact sum: 20.1 + 7.3 + 11.2 + 1.8 = 40.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
8TOYO Co., Ltd.TOYO	42.2/100Thin evidence · provisional32% evidence	BASING	16.4/35 Revenue — · PAT — · OPM change — 9% evidence	10.7/25 ROCE 0% · OPM — 46% evidence	11.5/20 P/E 5.2× · PEG — 15% evidence	3.6/20 RS sector -28.8% · RS bench -38.3% · 1Y 15.9%5 of 12 weeks ahead 70% evidence
Exact sum: 16.4 + 10.7 + 11.5 + 3.6 = 42.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9Tigo Energy, Inc.TYGO	40.1/100Thin evidence · provisional45% evidence	ASLEEP	19.3/35 Revenue 74.6% · PAT — · OPM change 11.5 pp 40% evidence	6.0/25 ROCE -7.4% · OPM -9.6% 57% evidence	8.8/20 P/E 94× · PEG — 15% evidence	6.0/20 RS sector -20.5% · RS bench -31.4% · 1Y 55.7%1 of 12 weeks ahead 70% evidence
Exact sum: 19.3 + 6 + 8.8 + 6 = 40.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
10Array Technologies, Inc.ARRY	37.6/100Thin evidence · provisional45% evidence	ASLEEP	13.5/35 Revenue 13.2% · PAT — · OPM change -5.8 pp 40% evidence	9.9/25 ROCE 0.7% · OPM 3.2% 57% evidence	9.2/20 P/E 85.5× · PEG — 15% evidence	5.0/20 RS sector -27.1% · RS bench -35% · 1Y 9.3%2 of 12 weeks ahead 70% evidence
Exact sum: 13.5 + 9.9 + 9.2 + 5 = 37.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

04 · what price has already done

Market action

SolarEdge Technologies, Inc. has the strongest one-year price move in Solar at +95.5%. It also leads on Mansfield relative strength against the S&P 500 at +6.4%. 1 of 10 covered companies is above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

Price and relative strength

Every company, the sector's own index and S&P 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

05 · compare level, then change

Revenue Scale & Growth Durability

Canadian Solar Inc. has the highest Revenue among the 10 Solar companies compared here, at $5,476 million. Sunrun Inc. is next at $3,175 million. Tigo Energy, Inc. has the highest Revenue growth at 74.6%, so level and change sit with different companies. 6 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Canadian Solar Inc. is the scale leader at $5,476 million, 72.5% ahead of Sunrun Inc.. Tigo Energy, Inc.'s growth is 74.6% from a $110 million base, with 16 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderCanadian Solar Inc. · $5,476 million

Gap72.5% versus #2 · Sunrun Inc.

Persistence1/8 recent comparable periods

Coverage6/10 companies · 164 observations

Investor read: Canadian Solar Inc. is the scale benchmark; Tigo Energy, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Canadian Solar Inc.'s growth falls below Tigo Energy, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Canadian Solar Inc. CSIQ · older report$5.5B

2Sunrun Inc. RUN · older report$3.2B

3SolarEdge Technologies, Inc. SEDG · older report$1.3B

4Array Technologies, Inc. ARRY · older report$1.2B

5Shoals Technologies Group, Inc. SHLS · older report$536M

Revenue growthfastest growers

1Tigo Energy, Inc. TYGO · older report75%

2Sunrun Inc. RUN · older report52%

3Shoals Technologies Group, Inc. SHLS · older report38%

4SolarEdge Technologies, Inc. SEDG · older report36%

5Array Technologies, Inc. ARRY · older report13%

Revenue · company comparison

6/10 level · 6/10 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
Canadian Solar Inc. CSIQ	$1.1B	-9.9%	Mar 2026
First Solar, Inc. FSLR	$1.0B	24%	Jun 2026
Nextpower Inc. NXT	$881M	-4.7%	Sep 2026
Sunrun Inc. RUN	$722M	43%	Mar 2026
SolarEdge Technologies, Inc. SEDG	$311M	42%	Mar 2026
TOYO Co., Ltd. TOYO	$288M	638%	Mar 2026
Enphase Energy, Inc. ENPH	$283M	-21%	Jun 2026
Array Technologies, Inc. ARRY	$223M	-26%	Mar 2026
Shoals Technologies Group, Inc. SHLS	$141M	76%	Mar 2026
Tigo Energy, Inc. TYGO	$25M	32%	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Array Technologies, Inc. · ARRY

Dec 2021$220M

Mar 2022$301M

Jun 2022$420M

Sep 2022$515M

Dec 2022$402M

Mar 2023$377M

Jun 2023$508M

Sep 2023$350M

Dec 2023$342M

Mar 2024$153M

Jun 2024$256M

Sep 2024$231M

Dec 2024$275M

Mar 2025$302M

Jun 2025$362M

Sep 2025$393M

Dec 2025$226M

Mar 2026$223M

Jun 2026—

Sep 2026—

Canadian Solar Inc. · CSIQ

Dec 2021$1.5B

Mar 2022$1.3B

Jun 2022$2.3B

Sep 2022$1.9B

Dec 2022$2.0B

Mar 2023$1.7B

Jun 2023$2.4B

Sep 2023$1.8B

Dec 2023$1.7B

Mar 2024$1.3B

Jun 2024$1.6B

Sep 2024$1.5B

Dec 2024$1.5B

Mar 2025$1.2B

Jun 2025$1.7B

Sep 2025$1.5B

Dec 2025$1.2B

Mar 2026$1.1B

Jun 2026—

Sep 2026—

Enphase Energy, Inc. · ENPH

Dec 2021$413M

Mar 2022$441M

Jun 2022$530M

Sep 2022$635M

Dec 2022$725M

Mar 2023$726M

Jun 2023$711M

Sep 2023$551M

Dec 2023$303M

Mar 2024$263M

Jun 2024$303M

Sep 2024$381M

Dec 2024$383M

Mar 2025$356M

Jun 2025$363M

Sep 2025$410M

Dec 2025$343M

Mar 2026$283M

Jun 2026—

Sep 2026—

First Solar, Inc. · FSLR

Dec 2021$907M

Mar 2022$367M

Jun 2022$621M

Sep 2022$629M

Dec 2022$1.0B

Mar 2023$548M

Jun 2023$811M

Sep 2023$801M

Dec 2023$1.2B

Mar 2024$794M

Jun 2024$1.0B

Sep 2024$888M

Dec 2024$1.5B

Mar 2025$845M

Jun 2025$1.1B

Sep 2025$1.6B

Dec 2025$1.7B

Mar 2026$1.0B

Jun 2026—

Sep 2026—

Nextpower Inc. · NXT

Dec 2021$339M

Mar 2022$440M

Jun 2022—

Sep 2022$403M

Dec 2022$513M

Mar 2023$518M

Jun 2023$480M

Sep 2023$573M

Dec 2023$710M

Mar 2024$737M

Jun 2024$720M

Sep 2024$636M

Dec 2024$679M

Mar 2025$924M

Jun 2025$864M

Sep 2025$905M

Dec 2025$909M

Mar 2026$881M

Jun 2026—

Sep 2026—

Shoals Technologies Group, Inc. · SHLS

Dec 2021$48M

Mar 2022$68M

Jun 2022$73M

Sep 2022$91M

Dec 2022$95M

Mar 2023$105M

Jun 2023$119M

Sep 2023$134M

Dec 2023$130M

Mar 2024$91M

Jun 2024$99M

Sep 2024$102M

Dec 2024$107M

Mar 2025$80M

Jun 2025$111M

Sep 2025$136M

Dec 2025$148M

Mar 2026$141M

Jun 2026—

Sep 2026—

SolarEdge Technologies, Inc. · SEDG

Dec 2021$552M

Mar 2022$655M

Jun 2022$728M

Sep 2022$837M

Dec 2022$891M

Mar 2023$944M

Jun 2023$991M

Sep 2023$725M

Dec 2023$316M

Mar 2024$204M

Jun 2024$265M

Sep 2024$261M

Dec 2024$196M

Mar 2025$219M

Jun 2025$289M

Sep 2025$340M

Dec 2025$335M

Mar 2026$311M

Jun 2026—

Sep 2026—

Sunrun Inc. · RUN

Dec 2021$435M

Mar 2022$496M

Jun 2022$585M

Sep 2022$632M

Dec 2022$609M

Mar 2023$590M

Jun 2023$590M

Sep 2023$563M

Dec 2023$517M

Mar 2024$458M

Jun 2024$524M

Sep 2024$537M

Dec 2024$518M

Mar 2025$504M

Jun 2025$569M

Sep 2025$725M

Dec 2025$1.2B

Mar 2026$722M

Jun 2026—

Sep 2026—

Tigo Energy, Inc. · TYGO

Dec 2021—

Mar 2022—

Jun 2022$18M

Sep 2022$23M

Dec 2022$31M

Mar 2023$50M

Jun 2023$69M

Sep 2023$17M

Dec 2023$9M

Mar 2024$10M

Jun 2024$13M

Sep 2024$14M

Dec 2024$17M

Mar 2025$19M

Jun 2025$24M

Sep 2025$31M

Dec 2025$30M

Mar 2026$25M

Jun 2026—

Sep 2026—

TOYO Co., Ltd. · TOYO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023$62M

Mar 2024—

Jun 2024$138M

Sep 2024—

Dec 2024$39M

Mar 2025—

Jun 2025$139M

Sep 2025—

Dec 2025$288M

Mar 2026—

Jun 2026—

Sep 2026—

Revenue growth · reported quarter history

Array Technologies, Inc. · ARRY

Dec 2021—

Mar 2022—

Jun 2022113%

Sep 2022172%

Dec 202283%

Mar 202325%

Jun 202321%

Sep 2023-32%

Dec 2023-15%

Mar 2024-59%

Jun 2024-50%

Sep 2024-34%

Dec 2024-20%

Mar 202597%

Jun 202541%

Sep 202570%

Dec 2025-18%

Mar 2026-26%

Jun 2026—

Sep 2026—

Canadian Solar Inc. · CSIQ

Dec 2021—

Mar 2022—

Jun 202262%

Sep 202257%

Dec 202229%

Mar 202336%

Jun 20232.2%

Sep 2023-4.5%

Dec 2023-14%

Mar 2024-22%

Jun 2024-31%

Sep 2024-18%

Dec 2024-11%

Mar 2025-9.9%

Jun 20253.6%

Sep 2025-1.4%

Dec 2025-20%

Mar 2026-9.9%

Jun 2026—

Sep 2026—

Enphase Energy, Inc. · ENPH

Dec 2021—

Mar 2022—

Jun 202268%

Sep 202280%

Dec 202276%

Mar 202365%

Jun 202334%

Sep 2023-13%

Dec 2023-58%

Mar 2024-64%

Jun 2024-57%

Sep 2024-31%

Dec 202426%

Mar 202535%

Jun 202520%

Sep 20257.6%

Dec 2025-10%

Mar 2026-21%

Jun 2026—

Sep 2026—

First Solar, Inc. · FSLR

Dec 2021—

Mar 2022—

Jun 2022-1.3%

Sep 20227.7%

Dec 202210%

Mar 202349%

Jun 202331%

Sep 202327%

Dec 202316%

Mar 202445%

Jun 202425%

Sep 202411%

Dec 202431%

Mar 20256.4%

Jun 20258.6%

Sep 202580%

Dec 202511%

Mar 202624%

Jun 2026—

Sep 2026—

Nextpower Inc. · NXT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202218%

Dec 202251%

Mar 202318%

Jun 2023—

Sep 202342%

Dec 202338%

Mar 202442%

Jun 202450%

Sep 202411%

Dec 2024-4.4%

Mar 202525%

Jun 202520%

Sep 202542%

Dec 202534%

Mar 2026-4.7%

Jun 2026—

Sep 2026—

Shoals Technologies Group, Inc. · SHLS

Dec 2021—

Mar 2022—

Jun 202222%

Sep 202252%

Dec 202298%

Mar 202354%

Jun 202363%

Sep 202347%

Dec 202337%

Mar 2024-13%

Jun 2024-17%

Sep 2024-24%

Dec 2024-18%

Mar 2025-12%

Jun 202512%

Sep 202533%

Dec 202538%

Mar 202676%

Jun 2026—

Sep 2026—

SolarEdge Technologies, Inc. · SEDG

Dec 2021—

Mar 2022—

Jun 202252%

Sep 202259%

Dec 202261%

Mar 202344%

Jun 202336%

Sep 2023-13%

Dec 2023-65%

Mar 2024-78%

Jun 2024-73%

Sep 2024-64%

Dec 2024-38%

Mar 20257.4%

Jun 20259.1%

Sep 202530%

Dec 202571%

Mar 202642%

Jun 2026—

Sep 2026—

Sunrun Inc. · RUN

Dec 2021—

Mar 2022—

Jun 202246%

Sep 202244%

Dec 202240%

Mar 202319%

Jun 20230.9%

Sep 2023-11%

Dec 2023-15%

Mar 2024-22%

Jun 2024-11%

Sep 2024-4.6%

Dec 20240.2%

Mar 202510%

Jun 20258.6%

Sep 202535%

Dec 2025124%

Mar 202643%

Jun 2026—

Sep 2026—

Tigo Energy, Inc. · TYGO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023283%

Sep 2023-26%

Dec 2023-71%

Mar 2024-80%

Jun 2024-81%

Sep 2024-18%

Dec 202489%

Mar 202590%

Jun 202585%

Sep 2025121%

Dec 202576%

Mar 202632%

Jun 2026—

Sep 2026—

TOYO Co., Ltd. · TOYO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024-37%

Mar 2025—

Jun 20250.7%

Sep 2025—

Dec 2025638%

Mar 2026—

Jun 2026—

Sep 2026—

06 · compare level, then change

Operating Economics & Margin Trend

First Solar, Inc. has the highest OPM among the 10 Solar companies compared here, at 33.1%. Nextpower Inc. is next at 17.4%. SolarEdge Technologies, Inc. has the highest Margin change at +29.1 percentage points, so level and change sit with different companies. 9 of 10 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: First Solar, Inc. leads opm at 33.1%; SolarEdge Technologies, Inc. leads margin change at +29.1 percentage points.

LeaderFirst Solar, Inc. · 33.1%

Gap90.2% versus #2 · Nextpower Inc.

Persistence4/8 recent comparable periods

Coverage9/10 companies · 159 observations

Investor read: First Solar, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1First Solar, Inc. FSLR33%

2Nextpower Inc. NXT17%

3Canadian Solar Inc. CSIQ · older report6.8%

4Shoals Technologies Group, Inc. SHLS · older report5.5%

5Array Technologies, Inc. ARRY · older report3.2%

Margin changefastest expanders

1SolarEdge Technologies, Inc. SEDG · older report+29.1 pp

2Sunrun Inc. RUN · older report+16.8 pp

3Tigo Energy, Inc. TYGO · older report+11.5 pp

4Canadian Solar Inc. CSIQ · older report+11.4 pp

5First Solar, Inc. FSLR+6.9 pp

Operating margin · company comparison

9/10 level · 9/10 change

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
First Solar, Inc. FSLR	33%	+6.9 pp	Jun 2026
Nextpower Inc. NXT	17%	−3.7 pp	Sep 2026
Canadian Solar Inc. CSIQ	6.8%	+11.4 pp	Mar 2026
Shoals Technologies Group, Inc. SHLS	5.5%	+0.1 pp	Mar 2026
Array Technologies, Inc. ARRY	3.2%	−5.8 pp	Mar 2026
Sunrun Inc. RUN	-6.0%	+16.8 pp	Mar 2026
Tigo Energy, Inc. TYGO	-9.6%	+11.5 pp	Mar 2026
Enphase Energy, Inc. ENPH	-11%	−19.5 pp	Jun 2026
SolarEdge Technologies, Inc. SEDG	-18%	+29.1 pp	Mar 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Array Technologies, Inc. · ARRY

Dec 2021-15%

Mar 2022-13%

Jun 2022-3.2%

Sep 20223.3%

Dec 20224.1%

Mar 202313%

Jun 202319%

Sep 202312%

Dec 20238.8%

Mar 20245.5%

Jun 202416%

Sep 2024-57%

Dec 2024-18%

Mar 20259.0%

Jun 202513%

Sep 202512%

Dec 2025-66%

Mar 20263.2%

Jun 2026—

Sep 2026—

Canadian Solar Inc. · CSIQ

Dec 20214.4%

Mar 20221.2%

Jun 20225.0%

Sep 20224.6%

Dec 20226.9%

Mar 20238.6%

Jun 20239.5%

Sep 20234.5%

Dec 20230.0%

Mar 20243.7%

Jun 20242.9%

Sep 20240.0%

Dec 2024-8.4%

Mar 2025-4.6%

Jun 20257.5%

Sep 20252.3%

Dec 2025-5.3%

Mar 20266.8%

Jun 2026—

Sep 2026—

Enphase Energy, Inc. · ENPH

Dec 202114%

Mar 202214%

Jun 202218%

Sep 202221%

Dec 202222%

Mar 202323%

Jun 202324%

Sep 202321%

Dec 2023-3.4%

Mar 2024-11%

Jun 20240.6%

Sep 202413%

Dec 202414%

Mar 20259.0%

Jun 202510%

Sep 202516%

Dec 20256.5%

Mar 2026-11%

Jun 2026—

Sep 2026—

First Solar, Inc. · FSLR

Dec 202119%

Mar 2022-16%

Jun 202223%

Sep 2022-11%

Dec 2022-4.6%

Mar 20233.3%

Jun 202321%

Sep 202334%

Dec 202334%

Mar 202431%

Jun 202437%

Sep 202436%

Dec 202430%

Mar 202526%

Jun 202533%

Sep 202529%

Dec 202533%

Mar 202633%

Jun 2026—

Sep 2026—

Nextpower Inc. · NXT

Dec 20215.9%

Mar 20221.7%

Jun 2022—

Sep 20227.4%

Dec 202211%

Mar 20237.8%

Jun 202315%

Sep 202316%

Dec 202321%

Mar 202437%

Jun 202422%

Sep 202421%

Dec 202422%

Mar 202521%

Jun 202522%

Sep 202520%

Dec 202519%

Mar 202617%

Jun 2026—

Sep 2026—

Shoals Technologies Group, Inc. · SHLS

Dec 20215.6%

Mar 202215%

Jun 202218%

Sep 202222%

Dec 202225%

Mar 202325%

Jun 202327%

Sep 2023-7.9%

Dec 202324%

Mar 202413%

Jun 202419%

Sep 20244.4%

Dec 202415%

Mar 20255.4%

Jun 202514%

Sep 202514%

Dec 202512%

Mar 20265.5%

Jun 2026—

Sep 2026—

SolarEdge Technologies, Inc. · SEDG

Dec 20217.4%

Mar 20227.8%

Jun 20224.9%

Sep 202210%

Dec 2022-0.6%

Mar 202315%

Jun 202315%

Sep 2023-2.3%

Dec 2023-75%

Mar 2024-85%

Jun 2024-60%

Sep 2024-416%

Dec 2024-134%

Mar 2025-47%

Jun 2025-40%

Sep 2025-10%

Dec 2025-14%

Mar 2026-18%

Jun 2026—

Sep 2026—

Sunrun Inc. · RUN

Dec 2021-48%

Mar 2022-37%

Jun 2022-27%

Sep 2022-22%

Dec 2022-31%

Mar 2023-39%

Jun 2023-35%

Sep 2023-239%

Dec 2023-38%

Mar 2024-40%

Jun 2024-24%

Sep 2024-24%

Dec 2024-628%

Mar 2025-23%

Jun 2025-20%

Sep 20250.5%

Dec 20258.4%

Mar 2026-6.0%

Jun 2026—

Sep 2026—

Tigo Energy, Inc. · TYGO

Dec 2021—

Mar 2022—

Jun 20223.5%

Sep 2022-9.2%

Dec 20227.0%

Mar 202316%

Jun 202313%

Sep 2023-66%

Dec 2023-147%

Mar 2024-93%

Jun 2024-66%

Sep 2024-73%

Dec 2024-140%

Mar 2025-21%

Jun 2025-6.3%

Sep 20252.1%

Dec 20251.1%

Mar 2026-9.6%

Jun 2026—

Sep 2026—

Margin change · reported quarter history

Array Technologies, Inc. · ARRY

Dec 2021—

Mar 2022—

Jun 2022−2.9 pp

Sep 2022+13.6 pp

Dec 2022+19.1 pp

Mar 2023+25.4 pp

Jun 2023+22.2 pp

Sep 2023+8.2 pp

Dec 2023+4.7 pp

Mar 2024−7.1 pp

Jun 2024−3.5 pp

Sep 2024−68.8 pp

Dec 2024−27.1 pp

Mar 2025+3.5 pp

Jun 2025−2.7 pp

Sep 2025+68.9 pp

Dec 2025−47.2 pp

Mar 2026−5.8 pp

Jun 2026—

Sep 2026—

Canadian Solar Inc. · CSIQ

Dec 2021—

Mar 2022—

Jun 2022+3.2 pp

Sep 2022+0.3 pp

Dec 2022+2.5 pp

Mar 2023+7.4 pp

Jun 2023+4.5 pp

Sep 2023−0.1 pp

Dec 2023−6.9 pp

Mar 2024−4.9 pp

Jun 2024−6.6 pp

Sep 2024−4.5 pp

Dec 2024−8.4 pp

Mar 2025−8.3 pp

Jun 2025+4.6 pp

Sep 2025+2.3 pp

Dec 2025+3.1 pp

Mar 2026+11.4 pp

Jun 2026—

Sep 2026—

Enphase Energy, Inc. · ENPH

Dec 2021—

Mar 2022—

Jun 2022−1.1 pp

Sep 2022+10.7 pp

Dec 2022+7.7 pp

Mar 2023+9.1 pp

Jun 2023+6.3 pp

Sep 2023+0.1 pp

Dec 2023−25.1 pp

Mar 2024−34.2 pp

Jun 2024−23.4 pp

Sep 2024−8.3 pp

Dec 2024+17.7 pp

Mar 2025+20.1 pp

Jun 2025+9.6 pp

Sep 2025+3.0 pp

Dec 2025−7.8 pp

Mar 2026−19.5 pp

Jun 2026—

Sep 2026—

First Solar, Inc. · FSLR

Dec 2021—

Mar 2022—

Jun 2022+5.8 pp

Sep 2022−19.6 pp

Dec 2022−23.7 pp

Mar 2023+19.0 pp

Jun 2023−2.5 pp

Sep 2023+45.0 pp

Dec 2023+38.9 pp

Mar 2024+27.3 pp

Jun 2024+16.1 pp

Sep 2024+2.2 pp

Dec 2024−4.1 pp

Mar 2025−4.4 pp

Jun 2025−3.9 pp

Sep 2025−7.1 pp

Dec 2025+2.4 pp

Mar 2026+6.9 pp

Jun 2026—

Sep 2026—

Nextpower Inc. · NXT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.2 pp

Dec 2022+5.5 pp

Mar 2023+6.1 pp

Jun 2023—

Sep 2023+9.0 pp

Dec 2023+9.5 pp

Mar 2024+29.0 pp

Jun 2024+6.8 pp

Sep 2024+4.6 pp

Dec 2024+1.2 pp

Mar 2025−15.7 pp

Jun 2025−0.7 pp

Sep 2025−1.0 pp

Dec 2025−2.7 pp

Mar 2026−3.7 pp

Jun 2026—

Sep 2026—

Shoals Technologies Group, Inc. · SHLS

Dec 2021—

Mar 2022—

Jun 2022−5.9 pp

Sep 2022+6.0 pp

Dec 2022+19.1 pp

Mar 2023+10.1 pp

Jun 2023+8.8 pp

Sep 2023−29.9 pp

Dec 2023−0.3 pp

Mar 2024−12.0 pp

Jun 2024−7.8 pp

Sep 2024+12.3 pp

Dec 2024−9.0 pp

Mar 2025−7.4 pp

Jun 2025−4.3 pp

Sep 2025+9.3 pp

Dec 2025−3.7 pp

Mar 2026+0.1 pp

Jun 2026—

Sep 2026—

SolarEdge Technologies, Inc. · SEDG

Dec 2021—

Mar 2022—

Jun 2022−6.7 pp

Sep 2022−2.5 pp

Dec 2022−8.0 pp

Mar 2023+7.5 pp

Jun 2023+10.3 pp

Sep 2023−12.4 pp

Dec 2023−74.6 pp

Mar 2024−100.3 pp

Jun 2024−75.6 pp

Sep 2024−413.7 pp

Dec 2024−59.2 pp

Mar 2025+38.2 pp

Jun 2025+20.5 pp

Sep 2025+405.7 pp

Dec 2025+120.0 pp

Mar 2026+29.1 pp

Jun 2026—

Sep 2026—

Sunrun Inc. · RUN

Dec 2021—

Mar 2022—

Jun 2022+8.7 pp

Sep 2022+9.8 pp

Dec 2022+16.7 pp

Mar 2023−2.0 pp

Jun 2023−8.3 pp

Sep 2023−217.7 pp

Dec 2023−7.1 pp

Mar 2024−1.4 pp

Jun 2024+10.5 pp

Sep 2024+215.5 pp

Dec 2024−589.8 pp

Mar 2025+17.2 pp

Jun 2025+4.7 pp

Sep 2025+24.3 pp

Dec 2025+636.4 pp

Mar 2026+16.8 pp

Jun 2026—

Sep 2026—

Tigo Energy, Inc. · TYGO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023+9.1 pp

Sep 2023−56.4 pp

Dec 2023−153.5 pp

Mar 2024−108.3 pp

Jun 2024−78.8 pp

Sep 2024−7.6 pp

Dec 2024+7.0 pp

Mar 2025+71.6 pp

Jun 2025+59.9 pp

Sep 2025+75.3 pp

Dec 2025+140.6 pp

Mar 2026+11.5 pp

Jun 2026—

Sep 2026—

07 · compare level, then change

Profit Scale & Acceleration

Shoals Technologies Group, Inc. has the highest Net profit among the 10 Solar companies compared here, at $34 million. Tigo Energy, Inc. is next at $4 million. 6 of 10 companies report a comparable reading, the latest through Mar 2026. Its Net profit series carries 18 reported observations across the 20-quarter window.

What the numbers say: Shoals Technologies Group, Inc. leads net profit at $34 million; the second comparison lacks enough current evidence.

LeaderShoals Technologies Group, Inc. · $34 million

Gap750% versus #2 · Tigo Energy, Inc.

Persistence1/8 recent comparable periods

Coverage6/10 companies · 167 observations

Investor read: Shoals Technologies Group, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Shoals Technologies Group, Inc. SHLS · older report$34M

2Tigo Energy, Inc. TYGO · older report$4M

3Array Technologies, Inc. ARRY · older report$-67M

4Canadian Solar Inc. CSIQ · older report$-90M

5SolarEdge Technologies, Inc. SEDG · older report$-365M

Profit growthfastest growers

—Not enough comparable data—

Net profit · company comparison

6/10 level · 0/10 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
First Solar, Inc. FSLR	$347M	65%	Jun 2026
Nextpower Inc. NXT	$151M	-4.4%	Sep 2026
TOYO Co., Ltd. TOYO	$35M	67%	Mar 2026
Array Technologies, Inc. ARRY	$2M	-88%	Mar 2026
Shoals Technologies Group, Inc. SHLS	$0M	0.0%	Mar 2026
Tigo Energy, Inc. TYGO	$-2M	-145%	Mar 2026
Enphase Energy, Inc. ENPH	$-7M	-123%	Jun 2026
Canadian Solar Inc. CSIQ	$-8M	34%	Mar 2026
SolarEdge Technologies, Inc. SEDG	$-57M	-209%	Mar 2026
Sunrun Inc. RUN	$-297M	—	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Array Technologies, Inc. · ARRY

Dec 2021$-22M

Mar 2022$-26M

Jun 2022$-5M

Sep 2022$41M

Dec 2022$9M

Mar 2023$30M

Jun 2023$65M

Sep 2023$23M

Dec 2023$19M

Mar 2024$2M

Jun 2024$26M

Sep 2024$-141M

Dec 2024$-127M

Mar 2025$17M

Jun 2025$43M

Sep 2025$34M

Dec 2025$-146M

Mar 2026$2M

Jun 2026—

Sep 2026—

Canadian Solar Inc. · CSIQ

Dec 2021$38M

Mar 2022$7M

Jun 2022$86M

Sep 2022$99M

Dec 2022$90M

Mar 2023$100M

Jun 2023$193M

Sep 2023$67M

Dec 2023$-10M

Mar 2024$35M

Jun 2024$35M

Sep 2024$-1M

Dec 2024$-136M

Mar 2025$-73M

Jun 2025$47M

Sep 2025$-15M

Dec 2025$-114M

Mar 2026$-8M

Jun 2026—

Sep 2026—

Enphase Energy, Inc. · ENPH

Dec 2021$53M

Mar 2022$52M

Jun 2022$77M

Sep 2022$115M

Dec 2022$154M

Mar 2023$147M

Jun 2023$157M

Sep 2023$114M

Dec 2023$21M

Mar 2024$-16M

Jun 2024$11M

Sep 2024$46M

Dec 2024$62M

Mar 2025$30M

Jun 2025$37M

Sep 2025$67M

Dec 2025$39M

Mar 2026$-7M

Jun 2026—

Sep 2026—

First Solar, Inc. · FSLR

Dec 2021$131M

Mar 2022$-43M

Jun 2022$56M

Sep 2022$-49M

Dec 2022$-8M

Mar 2023$43M

Jun 2023$171M

Sep 2023$268M

Dec 2023$349M

Mar 2024$237M

Jun 2024$349M

Sep 2024$313M

Dec 2024$393M

Mar 2025$210M

Jun 2025$342M

Sep 2025$456M

Dec 2025$521M

Mar 2026$347M

Jun 2026—

Sep 2026—

Nextpower Inc. · NXT

Dec 2021$16M

Mar 2022$6M

Jun 2022—

Sep 2022$24M

Dec 2022$43M

Mar 2023$28M

Jun 2023$64M

Sep 2023$81M

Dec 2023$128M

Mar 2024$223M

Jun 2024$125M

Sep 2024$117M

Dec 2024$117M

Mar 2025$158M

Jun 2025$157M

Sep 2025$147M

Dec 2025$131M

Mar 2026$151M

Jun 2026—

Sep 2026—

Shoals Technologies Group, Inc. · SHLS

Dec 2021$-2M

Mar 2022$5M

Jun 2022$7M

Sep 2022$13M

Dec 2022$118M

Mar 2023$17M

Jun 2023$19M

Sep 2023$-10M

Dec 2023$17M

Mar 2024$5M

Jun 2024$12M

Sep 2024$0M

Dec 2024$8M

Mar 2025$0M

Jun 2025$14M

Sep 2025$12M

Dec 2025$8M

Mar 2026$0M

Jun 2026—

Sep 2026—

SolarEdge Technologies, Inc. · SEDG

Dec 2021$41M

Mar 2022$33M

Jun 2022$15M

Sep 2022$25M

Dec 2022$21M

Mar 2023$138M

Jun 2023$120M

Sep 2023$-61M

Dec 2023$-162M

Mar 2024$-157M

Jun 2024$-131M

Sep 2024$-1.2B

Dec 2024$-265M

Mar 2025$-99M

Jun 2025$-125M

Sep 2025$-50M

Dec 2025$-133M

Mar 2026$-57M

Jun 2026—

Sep 2026—

Sunrun Inc. · RUN

Dec 2021$-321M

Mar 2022$-156M

Jun 2022$-210M

Sep 2022$-156M

Dec 2022$-328M

Mar 2023$-336M

Jun 2023$-341M

Sep 2023$-1.5B

Dec 2023$-535M

Mar 2024$-283M

Jun 2024$-260M

Sep 2024$-412M

Dec 2024$-3.4B

Mar 2025$-277M

Jun 2025$-279M

Sep 2025$-278M

Dec 2025$-175M

Mar 2026$-297M

Jun 2026—

Sep 2026—

Tigo Energy, Inc. · TYGO

Dec 2021$0M

Mar 2022$0M

Jun 2022$0M

Sep 2022$-2M

Dec 2022$1M

Mar 2023$7M

Jun 2023$-22M

Sep 2023$29M

Dec 2023$-15M

Mar 2024$-12M

Jun 2024$-11M

Sep 2024$-13M

Dec 2024$-27M

Mar 2025$-7M

Jun 2025$-4M

Sep 2025$-2M

Dec 2025$12M

Mar 2026$-2M

Jun 2026—

Sep 2026—

TOYO Co., Ltd. · TOYO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023$-2M

Sep 2023—

Dec 2023$12M

Mar 2024—

Jun 2024$20M

Sep 2024—

Dec 2024$21M

Mar 2025—

Jun 2025$3M

Sep 2025—

Dec 2025$35M

Mar 2026—

Jun 2026—

Sep 2026—

Profit growth · reported quarter history

Array Technologies, Inc. · ARRY

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023-44%

Dec 2023111%

Mar 2024-93%

Jun 2024-60%

Sep 2024-713%

Dec 2024-768%

Mar 2025750%

Jun 202565%

Sep 2025—

Dec 2025—

Mar 2026-88%

Jun 2026—

Sep 2026—

Canadian Solar Inc. · CSIQ

Dec 2021—

Mar 2022—

Jun 2022378%

Sep 2022191%

Dec 2022137%

Mar 20231,329%

Jun 2023124%

Sep 2023-32%

Dec 2023-111%

Mar 2024-65%

Jun 2024-82%

Sep 2024-101%

Dec 2024—

Mar 2025-309%

Jun 202534%

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Enphase Energy, Inc. · ENPH

Dec 2021—

Mar 2022—

Jun 202297%

Sep 2022423%

Dec 2022191%

Mar 2023183%

Jun 2023104%

Sep 2023-0.9%

Dec 2023-86%

Mar 2024-111%

Jun 2024-93%

Sep 2024-60%

Dec 2024195%

Mar 2025—

Jun 2025236%

Sep 202546%

Dec 2025-37%

Mar 2026-123%

Jun 2026—

Sep 2026—

First Solar, Inc. · FSLR

Dec 2021—

Mar 2022—

Jun 2022-32%

Sep 2022-209%

Dec 2022-106%

Mar 2023—

Jun 2023205%

Sep 2023—

Dec 2023—

Mar 2024451%

Jun 2024104%

Sep 202417%

Dec 202413%

Mar 2025-11%

Jun 2025-2.0%

Sep 202546%

Dec 202533%

Mar 202665%

Jun 2026—

Sep 2026—

Nextpower Inc. · NXT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202241%

Dec 2022169%

Mar 2023367%

Jun 2023—

Sep 2023238%

Dec 2023198%

Mar 2024696%

Jun 202495%

Sep 202444%

Dec 2024-8.6%

Mar 2025-29%

Jun 202526%

Sep 202526%

Dec 202512%

Mar 2026-4.4%

Jun 2026—

Sep 2026—

Shoals Technologies Group, Inc. · SHLS

Dec 2021—

Mar 2022—

Jun 2022-22%

Sep 2022160%

Dec 2022—

Mar 2023240%

Jun 2023171%

Sep 2023-177%

Dec 2023-86%

Mar 2024-71%

Jun 2024-37%

Sep 2024—

Dec 2024-53%

Mar 2025-100%

Jun 202517%

Sep 2025—

Dec 20250.0%

Mar 2026—

Jun 2026—

Sep 2026—

SolarEdge Technologies, Inc. · SEDG

Dec 2021—

Mar 2022—

Jun 2022-67%

Sep 2022-53%

Dec 2022-49%

Mar 2023318%

Jun 2023700%

Sep 2023-344%

Dec 2023-871%

Mar 2024-214%

Jun 2024-209%

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Tigo Energy, Inc. · TYGO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-1,600%

Mar 2024-271%

Jun 2024—

Sep 2024-145%

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

TOYO Co., Ltd. · TOYO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 202475%

Mar 2025—

Jun 2025-85%

Sep 2025—

Dec 202567%

Mar 2026—

Jun 2026—

Sep 2026—

08 · compare level, then change

Return On Capital Employed

Nextpower Inc. has the highest ROCE among the 10 Solar companies compared here, at 6.9%. First Solar, Inc. is next at 4.2%. Canadian Solar Inc. has the highest ROCE change at +1.5 percentage points, so level and change sit with different companies. 10 of 10 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Nextpower Inc. leads ROCE at 6.9%, 2.7 percentage points above First Solar, Inc.. Canadian Solar Inc. has the strongest latest improvement at +1.5 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderNextpower Inc. · 6.9%

Gap64.3% versus #2 · First Solar, Inc.

Persistence0/8 recent comparable periods

Coverage10/10 companies · 175 observations

Investor read: Nextpower Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Nextpower Inc. NXT6.9%

2First Solar, Inc. FSLR4.2%

3Enphase Energy, Inc. ENPH2.4%

4Shoals Technologies Group, Inc. SHLS · older report1.0%

5Canadian Solar Inc. CSIQ · older report0.8%

ROCE changefastest improvers

1Canadian Solar Inc. CSIQ · older report+1.5 pp

2Enphase Energy, Inc. ENPH+0.8 pp

3First Solar, Inc. FSLR+0.4 pp

4Sunrun Inc. RUN · older report+0.4 pp

5Shoals Technologies Group, Inc. SHLS · older report+0.4 pp

Return on capital · company comparison

10/10 level · 10/10 change

All-company data · latest reported quarter

Company	ROCE	ROCE change	Reported
Nextpower Inc. NXT	6.9%	−1.1 pp	Sep 2026
First Solar, Inc. FSLR	4.2%	+0.4 pp	Jun 2026
Enphase Energy, Inc. ENPH	2.4%	+0.8 pp	Jun 2026
Shoals Technologies Group, Inc. SHLS	1.0%	+0.4 pp	Mar 2026
Canadian Solar Inc. CSIQ	0.8%	+1.5 pp	Mar 2026
Array Technologies, Inc. ARRY	0.7%	−1.6 pp	Mar 2026
TOYO Co., Ltd. TOYO	0.0%	−4.8 pp	Mar 2026
Sunrun Inc. RUN	-0.2%	+0.4 pp	Mar 2026
SolarEdge Technologies, Inc. SEDG	-3.8%	+0.3 pp	Mar 2026
Tigo Energy, Inc. TYGO	-7.4%	0.0 pp	Mar 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Array Technologies, Inc. · ARRY

Dec 2021-5.2%

Mar 2022-4.7%

Jun 2022-1.6%

Sep 20222.0%

Dec 20221.5%

Mar 20233.6%

Jun 20237.2%

Sep 20233.2%

Dec 20232.3%

Mar 20240.6%

Jun 20242.9%

Sep 2024-10%

Dec 2024-4.3%

Mar 20252.3%

Jun 20253.9%

Sep 20253.9%

Dec 2025-14%

Mar 20260.7%

Jun 2026—

Sep 2026—

Canadian Solar Inc. · CSIQ

Dec 20212.1%

Mar 20220.5%

Jun 20223.4%

Sep 20222.5%

Dec 20223.8%

Mar 20233.8%

Jun 20235.1%

Sep 20231.8%

Dec 20230.0%

Mar 20240.9%

Jun 20240.8%

Sep 20240.0%

Dec 2024-1.8%

Mar 2025-0.7%

Jun 20251.6%

Sep 20250.4%

Dec 2025-0.7%

Mar 20260.8%

Jun 2026—

Sep 2026—

Enphase Energy, Inc. · ENPH

Dec 20215.0%

Mar 20223.4%

Jun 20225.1%

Sep 20226.8%

Dec 20227.7%

Mar 20237.5%

Jun 20237.3%

Sep 20234.8%

Dec 2023-0.4%

Mar 2024-1.1%

Jun 20240.1%

Sep 20241.8%

Dec 20242.0%

Mar 20251.4%

Jun 20251.6%

Sep 20252.7%

Dec 20250.9%

Mar 2026-1.4%

Jun 20262.4%

Sep 2026—

First Solar, Inc. · FSLR

Dec 20212.7%

Mar 2022-0.9%

Jun 20222.2%

Sep 2022-1.0%

Dec 2022-0.7%

Mar 20230.3%

Jun 20232.3%

Sep 20233.6%

Dec 20234.9%

Mar 20243.0%

Jun 20244.3%

Sep 20243.6%

Dec 20244.8%

Mar 20252.4%

Jun 20253.8%

Sep 20254.7%

Dec 20255.2%

Mar 20263.3%

Jun 20264.2%

Sep 2026—

Nextpower Inc. · NXT

Dec 20217.9%

Mar 20221.5%

Jun 2022—

Sep 20225.3%

Dec 20229.8%

Mar 20235.6%

Jun 20239.5%

Sep 20239.9%

Dec 202315%

Mar 202421%

Jun 202411%

Sep 20248.3%

Dec 20248.8%

Mar 202510%

Jun 20258.9%

Sep 20258.0%

Dec 20257.3%

Mar 20266.1%

Jun 2026—

Sep 20266.9%

Shoals Technologies Group, Inc. · SHLS

Dec 20210.9%

Mar 20223.0%

Jun 20223.8%

Sep 20225.0%

Dec 20225.0%

Mar 20234.4%

Jun 20235.3%

Sep 2023-1.7%

Dec 20234.9%

Mar 20241.6%

Jun 20242.6%

Sep 20240.6%

Dec 20242.3%

Mar 20250.6%

Jun 20252.2%

Sep 20252.5%

Dec 20252.3%

Mar 20261.0%

Jun 2026—

Sep 2026—

SolarEdge Technologies, Inc. · SEDG

Dec 20211.9%

Mar 20222.0%

Jun 20221.4%

Sep 20223.1%

Dec 2022-0.2%

Mar 20234.3%

Jun 20234.3%

Sep 2023-0.5%

Dec 2023-6.7%

Mar 2024-4.9%

Jun 2024-4.5%

Sep 2024-38%

Dec 2024-10%

Mar 2025-4.1%

Jun 2025-4.8%

Sep 2025-2.1%

Dec 2025-3.3%

Mar 2026-3.8%

Jun 2026—

Sep 2026—

Sunrun Inc. · RUN

Dec 2021-1.4%

Mar 2022-1.2%

Jun 2022-1.0%

Sep 2022-0.8%

Dec 2022-1.1%

Mar 2023-1.3%

Jun 2023-1.1%

Sep 2023-7.5%

Dec 2023-1.1%

Mar 2024-1.0%

Jun 2024-0.6%

Sep 2024-0.6%

Dec 2024-17%

Mar 2025-0.6%

Jun 2025-0.6%

Sep 20250.0%

Dec 20250.5%

Mar 2026-0.2%

Jun 2026—

Sep 2026—

Tigo Energy, Inc. · TYGO

Dec 20210.0%

Mar 20220.0%

Jun 20221.0%

Sep 2022-1.8%

Dec 20222.6%

Mar 202311%

Jun 20237.0%

Sep 2023-9.7%

Dec 2023-18%

Mar 2024-15%

Jun 2024-7.8%

Sep 2024-11%

Dec 2024-31%

Mar 2025-7.4%

Jun 2025-3.0%

Sep 20251.3%

Dec 20250.7%

Mar 2026-7.4%

Jun 2026—

Sep 2026—

TOYO Co., Ltd. · TOYO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20239.9%

Dec 20239.9%

Mar 202423%

Jun 202423%

Sep 2024-7.4%

Dec 2024-7.4%

Mar 20254.8%

Jun 20254.8%

Sep 202519%

Dec 202519%

Mar 20260.0%

Jun 2026—

Sep 2026—

ROCE change · reported quarter history

Array Technologies, Inc. · ARRY

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+6.7 pp

Mar 2023+8.3 pp

Jun 2023+8.8 pp

Sep 2023+1.2 pp

Dec 2023+0.8 pp

Mar 2024−3.0 pp

Jun 2024−4.3 pp

Sep 2024−13.5 pp

Dec 2024−6.6 pp

Mar 2025+1.7 pp

Jun 2025+1.0 pp

Sep 2025+14.2 pp

Dec 2025−10.1 pp

Mar 2026−1.6 pp

Jun 2026—

Sep 2026—

Canadian Solar Inc. · CSIQ

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+1.7 pp

Mar 2023+3.3 pp

Jun 2023+1.7 pp

Sep 2023−0.7 pp

Dec 2023−3.8 pp

Mar 2024−2.9 pp

Jun 2024−4.3 pp

Sep 2024−1.8 pp

Dec 2024−1.8 pp

Mar 2025−1.6 pp

Jun 2025+0.8 pp

Sep 2025+0.4 pp

Dec 2025+1.1 pp

Mar 2026+1.5 pp

Jun 2026—

Sep 2026—

Enphase Energy, Inc. · ENPH

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+2.7 pp

Mar 2023+4.1 pp

Jun 2023+2.2 pp

Sep 2023−2.0 pp

Dec 2023−8.1 pp

Mar 2024−8.6 pp

Jun 2024−7.2 pp

Sep 2024−3.0 pp

Dec 2024+2.4 pp

Mar 2025+2.5 pp

Jun 2025+1.5 pp

Sep 2025+0.9 pp

Dec 2025−1.1 pp

Mar 2026−2.8 pp

Jun 2026+0.8 pp

Sep 2026—

First Solar, Inc. · FSLR

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−3.4 pp

Mar 2023+1.2 pp

Jun 2023+0.1 pp

Sep 2023+4.6 pp

Dec 2023+5.6 pp

Mar 2024+2.7 pp

Jun 2024+2.0 pp

Sep 20240.0 pp

Dec 2024−0.1 pp

Mar 2025−0.6 pp

Jun 2025−0.5 pp

Sep 2025+1.1 pp

Dec 2025+0.4 pp

Mar 2026+0.9 pp

Jun 2026+0.4 pp

Sep 2026—

Nextpower Inc. · NXT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+1.9 pp

Mar 2023+4.1 pp

Jun 2023—

Sep 2023+4.6 pp

Dec 2023+5.1 pp

Mar 2024+15.7 pp

Jun 2024+1.9 pp

Sep 2024−1.6 pp

Dec 2024−6.1 pp

Mar 2025−11.0 pp

Jun 2025−2.5 pp

Sep 2025−0.3 pp

Dec 2025−1.5 pp

Mar 2026−4.2 pp

Jun 2026—

Sep 2026−1.1 pp

Shoals Technologies Group, Inc. · SHLS

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+4.1 pp

Mar 2023+1.4 pp

Jun 2023+1.5 pp

Sep 2023−6.7 pp

Dec 2023−0.1 pp

Mar 2024−2.8 pp

Jun 2024−2.7 pp

Sep 2024+2.3 pp

Dec 2024−2.6 pp

Mar 2025−1.0 pp

Jun 2025−0.4 pp

Sep 2025+1.9 pp

Dec 20250.0 pp

Mar 2026+0.4 pp

Jun 2026—

Sep 2026—

SolarEdge Technologies, Inc. · SEDG

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−2.1 pp

Mar 2023+2.3 pp

Jun 2023+2.9 pp

Sep 2023−3.6 pp

Dec 2023−6.5 pp

Mar 2024−9.2 pp

Jun 2024−8.8 pp

Sep 2024−37.7 pp

Dec 2024−3.3 pp

Mar 2025+0.8 pp

Jun 2025−0.3 pp

Sep 2025+36.1 pp

Dec 2025+6.7 pp

Mar 2026+0.3 pp

Jun 2026—

Sep 2026—

Sunrun Inc. · RUN

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+0.3 pp

Mar 2023−0.1 pp

Jun 2023−0.1 pp

Sep 2023−6.7 pp

Dec 20230.0 pp

Mar 2024+0.3 pp

Jun 2024+0.5 pp

Sep 2024+6.9 pp

Dec 2024−16.3 pp

Mar 2025+0.4 pp

Jun 20250.0 pp

Sep 2025+0.6 pp

Dec 2025+17.9 pp

Mar 2026+0.4 pp

Jun 2026—

Sep 2026—

Tigo Energy, Inc. · TYGO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+2.6 pp

Mar 2023+11.1 pp

Jun 2023+6.0 pp

Sep 2023−7.9 pp

Dec 2023−20.7 pp

Mar 2024−26.4 pp

Jun 2024−14.8 pp

Sep 2024−1.2 pp

Dec 2024−12.6 pp

Mar 2025+7.9 pp

Jun 2025+4.8 pp

Sep 2025+12.2 pp

Dec 2025+31.4 pp

Mar 20260.0 pp

Jun 2026—

Sep 2026—

TOYO Co., Ltd. · TOYO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024−17.3 pp

Dec 2024−17.3 pp

Mar 2025−18.6 pp

Jun 2025−18.6 pp

Sep 2025+26.3 pp

Dec 2025+26.3 pp

Mar 2026−4.8 pp

Jun 2026—

Sep 2026—

09 · compare level, then change

Valuation Against Growth & Quality

Shoals Technologies Group, Inc. has the lowest PEG among the 10 Solar companies compared here, at 1.27×. TOYO Co., Ltd. has the lowest P/E at 5.19×, so level and change sit with different companies. 1 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Shoals Technologies Group, Inc. has the lowest comparable PEG at 1.27×. Only 1 of 10 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderShoals Technologies Group, Inc. · 1.27×

GapNot enough peers

Persistence0/8 recent comparable periods

Coverage1/10 companies · 10 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

PEGlowest PEG

1Shoals Technologies Group, Inc. SHLS · older report1.3

P/Elowest P/E

1TOYO Co., Ltd. TOYO · older report5.2

2Sunrun Inc. RUN · older report6.4

3First Solar, Inc. FSLR14.5

4Canadian Solar Inc. CSIQ · older report20.6

5Nextpower Inc. NXT29.2

Valuation · company comparison

1/10 level · 10/10 change

All-company data · latest reported quarter

Company	PEG	P/E	Reported
SolarEdge Technologies, Inc. SEDG	10.0	156.0	Mar 2026
Nextpower Inc. NXT	3.0	29.2	Sep 2026
Shoals Technologies Group, Inc. SHLS	1.3	32.9	Mar 2026
Enphase Energy, Inc. ENPH	0.8	49.2	Jun 2026
First Solar, Inc. FSLR	0.4	14.6	Jun 2026
Sunrun Inc. RUN	—	6.4	Mar 2026
Canadian Solar Inc. CSIQ	—	20.6	Mar 2026
Array Technologies, Inc. ARRY	—	85.5	Mar 2026
TOYO Co., Ltd. TOYO	—	5.2	Mar 2026
Tigo Energy, Inc. TYGO	—	94.0	Mar 2026

Full 20-quarter history · every available company

PEG · reported quarter history

Enphase Energy, Inc. · ENPH

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20234.1

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20250.8

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

First Solar, Inc. · FSLR

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20240.3

Mar 20250.5

Jun 2025—

Sep 20251.4

Dec 20251.0

Mar 20260.4

Jun 2026—

Sep 2026—

Nextpower Inc. · NXT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20263.0

Jun 2026—

Sep 2026—

Shoals Technologies Group, Inc. · SHLS

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20251.3

Mar 2026—

Jun 2026—

Sep 2026—

SolarEdge Technologies, Inc. · SEDG

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202310.0

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

P/E · reported quarter history

Array Technologies, Inc. · ARRY

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023273.5

Jun 202342.6

Sep 202354.1

Dec 202330.0

Mar 202439.2

Jun 202485.5

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Canadian Solar Inc. · CSIQ

Dec 202121.4

Mar 202228.8

Jun 202214.7

Sep 202213.7

Dec 20229.0

Mar 20238.9

Jun 20236.7

Sep 20234.9

Dec 20236.8

Mar 20246.9

Jun 202428.9

Sep 2024—

Dec 202420.6

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Enphase Energy, Inc. · ENPH

Dec 2021179.4

Mar 2022172.5

Jun 2022136.5

Sep 2022133.4

Dec 202295.7

Mar 202361.5

Jun 202342.2

Sep 202330.3

Dec 202342.9

Mar 202463.0

Jun 2024109.6

Sep 2024256.9

Dec 202491.6

Mar 202557.5

Jun 202531.0

Sep 202524.4

Dec 202524.8

Mar 202637.4

Jun 202649.2

Sep 2026—

First Solar, Inc. · FSLR

Dec 202119.9

Mar 202241.7

Jun 202238.7

Sep 2022150.3

Dec 2022—

Mar 2023557.7

Jun 2023130.2

Sep 202336.6

Dec 202322.3

Mar 202417.7

Jun 202420.1

Sep 202421.5

Dec 202414.7

Mar 202510.8

Jun 202514.2

Sep 202516.9

Dec 202518.4

Mar 202612.7

Jun 202614.6

Sep 2026—

Nextpower Inc. · NXT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20231,813.0

Jun 202334.2

Sep 202332.3

Dec 202326.5

Mar 202416.7

Jun 202412.8

Sep 202410.2

Dec 20249.3

Mar 202512.1

Jun 202515.9

Sep 202519.0

Dec 202522.3

Mar 202631.4

Jun 2026—

Sep 202629.2

Shoals Technologies Group, Inc. · SHLS

Dec 2021—

Mar 2022243.4

Jun 2022274.7

Sep 2022195.9

Dec 202229.0

Mar 202325.0

Jun 202326.1

Sep 202321.5

Dec 202364.8

Mar 202462.1

Jun 202444.6

Sep 202428.1

Dec 202439.5

Mar 202527.7

Jun 202532.7

Sep 202537.1

Dec 202542.5

Mar 202632.9

Jun 2026—

Sep 2026—

SolarEdge Technologies, Inc. · SEDG

Dec 202191.7

Mar 2022103.3

Jun 2022106.9

Sep 2022114.0

Dec 2022171.7

Mar 202389.4

Jun 202352.0

Sep 202335.4

Dec 2023156.0

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Sunrun Inc. · RUN

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202295.1

Dec 202230.0

Mar 2023287.9

Jun 202347.0

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 202510.8

Mar 20266.4

Jun 2026—

Sep 2026—

Tigo Energy, Inc. · TYGO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 202694.0

Jun 2026—

Sep 2026—

TOYO Co., Ltd. · TOYO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202411.3

Sep 20242.9

Dec 20243.1

Mar 20253.3

Jun 20255.2

Sep 20256.3

Dec 20255.2

Mar 2026—

Jun 2026—

Sep 2026—

10 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Solar comparison names 6 specific ways its own evidence can mislead, all listed below. 7 of the 10 companies report on an older date than the sector's freshest reporters, so their ranks are marked stale. 1 of the 5 ranked sections has fewer than three usable current readings. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
7 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.
Thin comparisons: Valuation have fewer than three usable current readings.

11 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 10 Solar companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 2026-08-04. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Sep 2026 · up to 20 quarters per company

Market dataThrough 2026-08-04 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

12 · questions investors ask, short speakable answers

Solar company comparison FAQs

These 22 answers restate the Solar comparison above in question form. Every one is computed from the same 10 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 2026-08-04. Nothing here is estimated, and none of it is a recommendation.

Is the Solar sector outperforming S&P 500?

Solar has outperformed S&P 500 by 32.9% over 52 weeks and 20.5% over 13 weeks. 1 of 10 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 10 beat the sector itself.

Which Solar company is largest by revenue?

Canadian Solar Inc. leads with revenue of $5,476 million, based on 6 of 10 comparable companies through Mar 2026.

Which Solar company is growing fastest?

Tigo Energy, Inc. has the fastest current revenue growth at 74.6%, across 6 of 10 comparable companies.

Which Solar company has the strongest 4-Factor Sector Score?

First Solar, Inc. ranks first at 60.8/100 with 55.5% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Solar company has the lowest comparable PEG?

Shoals Technologies Group, Inc. has the lowest comparable PEG at 1.27, among 1 of 10 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Solar comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Sep 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Which Solar company is the biggest?

Canadian Solar Inc. is the largest, with trailing-twelve-month revenue of $5,476 million, ahead of Sunrun Inc. at $3,175 million. That covers 6 of 10 companies with comparable reporting through Mar 2026.

Which Solar company has the best profit margins?

First Solar, Inc. has the highest operating margin at 33.1%, from 9 of 10 comparable companies. SolarEdge Technologies, Inc. shows the biggest recent improvement, at +29.1 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Solar company makes the most profit?

Shoals Technologies Group, Inc. earns the most, at $34 million of trailing-twelve-month net profit, from 6 of 10 comparable companies.

Which Solar company earns the highest return on capital?

Nextpower Inc. leads on return on capital employed at 6.9%, across 10 of 10 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Solar stock is the cheapest?

On PEG — where a LOWER number is cheaper — Shoals Technologies Group, Inc. screens cheapest at 1.27×. Only 1 of 10 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Solar sector beating the market?

Solar has outperformed S&P 500 by 32.9% over the last 52 weeks and 20.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 10 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Solar stock has the strongest price momentum?

SolarEdge Technologies, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Solar company scores highest for research priority?

First Solar, Inc. scores 60.8 out of 100 with 55.5% evidence confidence, from 19.5 points on growth and earnings, 16.1 on capital efficiency, 10.8 on valuation and 14.4 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Solar companies does this comparison cover, and over what period?

It compares 10 listed companies over up to 20 reported quarters of fundamentals, ending Sep 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Solar sector?

The 10 Solar companies on this page carry $56,211 million of combined market value. First Solar, Inc. is the largest at $26,183 million, about 47% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

What is the Solar sector's P/E ratio?

The median price-to-earnings ratio across the 10 Solar companies on this page is 32.9×, measured on the 10 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04.

How is the Solar sector performing?

1 of the 10 covered Solar companies are beating S&P 500 on Mansfield relative strength. The sector itself is 32.9% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

How many Solar stocks are listed in the US?

This comparison covers 10 listed Solar companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Sep 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.