Rankings Utilities & power Solaria
Solaria
89
15070100
A view of the same findings, not a new score. How it works
In the 70+ zone: a score above 70 with more than 20% upside to the median analyst target.
Biggest deductions
- Quality of growth−5
- FCF yield−4
- Concentration−2
Strengths
- Capacity and contracts+1
- Project financing+1
How the score is built
From 100 to 89, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 15.71 EUR
- Median analyst target
- 23.10 EUR
- Upside to median
- +47.0%
- Analysts
- 16
- Target range
- 14.00 – 28.00 EUR
- 52-week change
- +5%
- P/E (trailing)
- 11.3
- Forward P/E
- 9.6
- PEG
- 0.38
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−8 of −30
- −5Quality of growthEBITDA of €210m in H1 2026 is almost equal to total income of €223m incl. €56m of other income; €99.6m of operating revenue of €167.2m came from infrastructure/'Powered Land' for data centres (+355%), so power generation of 1,717 GWh yielded only about €68m (own calculation, about €39/MWh).
- −1ROICROIC 7.6% vs a WACC of 7.1% – only just above the cost of capital; ROE of 20% is lifted by leverage (debt/equity 1.4x).
- −2ConcentrationSpain accounted for €252m of €266m in geographic revenue TTM (about 95%), and the portfolio is almost pure solar – no diversification by market or technology.
Price
Today's multiples against the company's own history and its peers. · 2 findings−5 of −35
- −1Multiples vs own history and peersTrailing P/E 11.4 vs. 11.0–44.5 in 2021–2025, forward P/E 10.3 vs. 9.8–37.3 and EV/EBITDA 10.4 vs. 12.1–28.6 – at the bottom of its own range and below Acciona Energía (forward P/E 22); but the multiples rest on an EBITDA with large other income and unresolved infrastructure income.
- −4FCF yieldNegative FCF every year since 2021 (−€101m in 2021 to −€304m TTM, about −14% of the €2.1bn market value), and analysts expect FCF of −€205m in 2026.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−7 of −35
- −2DebtNet debt has grown from €553m (2021) to €1,350m, debt/EBITDA 4.7x and interest cover 5.1x; investments of €276m in H1 2026 and a 1.2 GWh battery programme are still financed with new debt and equity.
- −2DilutionShare issuance and sale of own shares of EUR 358m TTM (vs buybacks of EUR 125m); the share count rose 4.2% over a year.
- −2Power prices and capital intensityThe share fell 6.5% on the record result on 24/9-2026; analysts' concerns were the high capital intensity, exposure to power prices, liquidity (current ratio 0.59) and execution risk.
- −1Short positionsShort positions above 5% of the shares and a share price fall from €25.85 in April to €15.18 (over 40%) despite rising earnings.
Plus
Only documented strengths. · 2 findings+2 of +15
- +1Capacity and contractsProduction rose 51% and capacity 85% to 3,063 MW in H1 2026 (3.6 GW expected by year-end); 438 MW contracted to data centres, and 64% of the EBITDA target of 331 m € has been reached after half a year.
- +1Project financing91% of debt is at project level without recourse and 84% is fixed-rate; net debt/EBITDA fell to 3.9x from 5.4x at the end of 2025.
Caveats
What the score does not capture, or where the data is weak.
Stockanalysis' revenue (€371m TTM) includes other operating income; the company's own operating revenue was €167.2m and other income €56.1m in H1 2026. Production revenue of about €68m (≈€39/MWh) is own calculation (operating revenue minus infrastructure) and may include other items. It has not been clarified whether the 'Powered Land' revenue from data centres is one-off sales of grid-connected land or recurring rental income – hence a deduction for uncertain growth quality, not for one-off items. The share count (+4.2%) was checked against the cash flow: share issuance/sale of treasury shares of €358m vs. buybacks of €125m TTM. The company's leverage (3.9x net debt/EBITDA) is lower than stockanalysis' 4.1–4.7x because the company's EBITDA includes other income. The price target (€22.39, +39%) is probably not fully updated after the price fall of over 40% from the April peak – not used as a finding. Insider trading (the Díaz-Tejeiro family) and the Spanish captured solar price for Solaria specifically have not been investigated. New Investor Day in November 2026.
Also in Utilities & power
The highest scores in the same industry.
