Intrinsic value of Vivint Solar - VSLR

Previous Close

$5.61

  Intrinsic Value

$1.64

stock screener

  Rating & Target

str. sell

-71%

Previous close

$5.61

 
Intrinsic value

$1.64

 
Up/down potential

-71%

 
Rating

str. sell

We calculate the intrinsic value of VSLR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.70
  10.13
  9.62
  9.16
  8.74
  8.37
  8.03
  7.73
  7.45
  7.21
  6.99
  6.79
  6.61
  6.45
  6.30
  6.17
  6.06
  5.95
  5.86
  5.77
  5.69
  5.62
  5.56
  5.51
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
Revenue, $m
  297
  327
  358
  391
  425
  461
  498
  536
  576
  618
  661
  706
  752
  801
  851
  904
  959
  1,016
  1,075
  1,137
  1,202
  1,270
  1,340
  1,414
  1,491
  1,572
  1,656
  1,744
  1,837
  1,934
Variable operating expenses, $m
  148
  163
  179
  195
  213
  230
  249
  268
  288
  309
  330
  353
  376
  400
  425
  452
  479
  508
  537
  568
  601
  634
  670
  706
  745
  785
  827
  872
  918
  966
Fixed operating expenses, $m
  282
  288
  295
  301
  308
  314
  321
  328
  336
  343
  351
  358
  366
  374
  383
  391
  400
  408
  417
  427
  436
  445
  455
  465
  476
  486
  497
  508
  519
  530
Total operating expenses, $m
  430
  451
  474
  496
  521
  544
  570
  596
  624
  652
  681
  711
  742
  774
  808
  843
  879
  916
  954
  995
  1,037
  1,079
  1,125
  1,171
  1,221
  1,271
  1,324
  1,380
  1,437
  1,496
Operating income, $m
  -134
  -125
  -115
  -106
  -95
  -84
  -72
  -60
  -48
  -34
  -20
  -5
  10
  26
  43
  61
  80
  100
  121
  142
  165
  190
  215
  242
  270
  300
  332
  365
  400
  437
EBITDA, $m
  -66
  -50
  -34
  -16
  2
  21
  41
  62
  84
  107
  131
  156
  182
  209
  238
  268
  299
  332
  366
  402
  440
  480
  521
  565
  611
  659
  710
  764
  820
  879
Interest expense (income), $m
  24
  71
  84
  98
  113
  129
  145
  161
  179
  197
  215
  235
  255
  276
  298
  321
  345
  369
  395
  422
  450
  479
  509
  541
  574
  609
  645
  683
  722
  764
  807
Earnings before tax, $m
  -205
  -209
  -214
  -219
  -224
  -229
  -234
  -239
  -244
  -250
  -255
  -260
  -266
  -272
  -277
  -283
  -289
  -295
  -301
  -307
  -313
  -319
  -326
  -332
  -338
  -344
  -351
  -357
  -363
  -370
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -205
  -209
  -214
  -219
  -224
  -229
  -234
  -239
  -244
  -250
  -255
  -260
  -266
  -272
  -277
  -283
  -289
  -295
  -301
  -307
  -313
  -319
  -326
  -332
  -338
  -344
  -351
  -357
  -363
  -370

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,722
  2,998
  3,286
  3,587
  3,900
  4,227
  4,566
  4,919
  5,286
  5,667
  6,063
  6,474
  6,902
  7,347
  7,810
  8,292
  8,795
  9,318
  9,864
  10,433
  11,027
  11,647
  12,295
  12,971
  13,679
  14,419
  15,193
  16,003
  16,851
  17,739
Adjusted assets (=assets-cash), $m
  2,722
  2,998
  3,286
  3,587
  3,900
  4,227
  4,566
  4,919
  5,286
  5,667
  6,063
  6,474
  6,902
  7,347
  7,810
  8,292
  8,795
  9,318
  9,864
  10,433
  11,027
  11,647
  12,295
  12,971
  13,679
  14,419
  15,193
  16,003
  16,851
  17,739
Revenue / Adjusted assets
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
Average production assets, $m
  1,756
  1,933
  2,119
  2,313
  2,516
  2,726
  2,945
  3,172
  3,409
  3,655
  3,910
  4,176
  4,452
  4,739
  5,037
  5,348
  5,672
  6,010
  6,362
  6,729
  7,112
  7,512
  7,929
  8,366
  8,822
  9,299
  9,799
  10,321
  10,868
  11,441
Working capital, $m
  -133
  -146
  -160
  -175
  -190
  -206
  -223
  -240
  -258
  -277
  -296
  -316
  -337
  -359
  -381
  -405
  -429
  -455
  -482
  -509
  -538
  -569
  -600
  -633
  -668
  -704
  -742
  -781
  -823
  -866
Total debt, $m
  1,124
  1,312
  1,509
  1,714
  1,928
  2,150
  2,382
  2,622
  2,872
  3,132
  3,402
  3,683
  3,975
  4,278
  4,594
  4,923
  5,265
  5,622
  5,994
  6,383
  6,788
  7,211
  7,652
  8,114
  8,596
  9,101
  9,629
  10,181
  10,760
  11,365
Total liabilities, $m
  1,856
  2,045
  2,241
  2,446
  2,660
  2,883
  3,114
  3,355
  3,605
  3,865
  4,135
  4,415
  4,707
  5,011
  5,327
  5,655
  5,998
  6,355
  6,727
  7,115
  7,520
  7,943
  8,385
  8,847
  9,329
  9,834
  10,362
  10,914
  11,492
  12,098
Total equity, $m
  866
  953
  1,045
  1,141
  1,240
  1,344
  1,452
  1,564
  1,681
  1,802
  1,928
  2,059
  2,195
  2,336
  2,484
  2,637
  2,797
  2,963
  3,137
  3,318
  3,507
  3,704
  3,910
  4,125
  4,350
  4,585
  4,831
  5,089
  5,359
  5,641
Total liabilities and equity, $m
  2,722
  2,998
  3,286
  3,587
  3,900
  4,227
  4,566
  4,919
  5,286
  5,667
  6,063
  6,474
  6,902
  7,347
  7,811
  8,292
  8,795
  9,318
  9,864
  10,433
  11,027
  11,647
  12,295
  12,972
  13,679
  14,419
  15,193
  16,003
  16,851
  17,739
Debt-to-equity ratio
  1.300
  1.380
  1.440
  1.500
  1.550
  1.600
  1.640
  1.680
  1.710
  1.740
  1.760
  1.790
  1.810
  1.830
  1.850
  1.870
  1.880
  1.900
  1.910
  1.920
  1.940
  1.950
  1.960
  1.970
  1.980
  1.980
  1.990
  2.000
  2.010
  2.010
Adjusted equity ratio
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -205
  -209
  -214
  -219
  -224
  -229
  -234
  -239
  -244
  -250
  -255
  -260
  -266
  -272
  -277
  -283
  -289
  -295
  -301
  -307
  -313
  -319
  -326
  -332
  -338
  -344
  -351
  -357
  -363
  -370
Depreciation, amort., depletion, $m
  68
  75
  82
  89
  97
  105
  114
  123
  132
  141
  151
  161
  172
  183
  194
  206
  219
  232
  246
  260
  275
  290
  306
  323
  341
  359
  378
  398
  420
  442
Funds from operations, $m
  -137
  -134
  -132
  -129
  -126
  -123
  -120
  -116
  -113
  -108
  -104
  -99
  -94
  -89
  -83
  -77
  -70
  -63
  -55
  -47
  -39
  -29
  -19
  -9
  3
  15
  28
  41
  56
  72
Change in working capital, $m
  -13
  -13
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -32
  -33
  -35
  -36
  -38
  -40
  -41
  -43
Cash from operations, $m
  -124
  -121
  -118
  -115
  -111
  -107
  -103
  -99
  -95
  -90
  -85
  -79
  -73
  -67
  -60
  -53
  -46
  -37
  -29
  -20
  -10
  1
  12
  24
  37
  51
  65
  81
  98
  115
Maintenance CAPEX, $m
  -61
  -68
  -75
  -82
  -89
  -97
  -105
  -114
  -122
  -132
  -141
  -151
  -161
  -172
  -183
  -194
  -206
  -219
  -232
  -246
  -260
  -275
  -290
  -306
  -323
  -341
  -359
  -378
  -398
  -420
New CAPEX, $m
  -170
  -178
  -186
  -194
  -202
  -210
  -219
  -228
  -236
  -246
  -255
  -265
  -276
  -287
  -299
  -311
  -324
  -338
  -352
  -367
  -383
  -400
  -418
  -437
  -456
  -477
  -499
  -522
  -547
  -573
Cash from investing activities, $m
  -231
  -246
  -261
  -276
  -291
  -307
  -324
  -342
  -358
  -378
  -396
  -416
  -437
  -459
  -482
  -505
  -530
  -557
  -584
  -613
  -643
  -675
  -708
  -743
  -779
  -818
  -858
  -900
  -945
  -993
Free cash flow, $m
  -355
  -367
  -378
  -390
  -403
  -415
  -428
  -440
  -454
  -467
  -481
  -496
  -510
  -526
  -542
  -559
  -576
  -594
  -613
  -632
  -653
  -674
  -696
  -718
  -742
  -767
  -793
  -820
  -848
  -877
Issuance/(repayment) of debt, $m
  179
  188
  197
  205
  214
  223
  231
  241
  250
  260
  270
  281
  292
  304
  316
  329
  343
  357
  372
  388
  405
  423
  442
  462
  483
  505
  528
  552
  578
  605
Issuance/(repurchase) of shares, $m
  289
  297
  306
  314
  323
  332
  342
  351
  361
  371
  381
  391
  402
  413
  425
  437
  449
  462
  475
  488
  502
  517
  532
  547
  563
  580
  597
  615
  633
  652
Cash from financing (excl. dividends), $m  
  468
  485
  503
  519
  537
  555
  573
  592
  611
  631
  651
  672
  694
  717
  741
  766
  792
  819
  847
  876
  907
  940
  974
  1,009
  1,046
  1,085
  1,125
  1,167
  1,211
  1,257
Total cash flow (excl. dividends), $m
  113
  118
  124
  129
  135
  140
  146
  151
  157
  163
  170
  176
  183
  191
  199
  207
  215
  224
  234
  244
  255
  266
  278
  290
  303
  317
  332
  347
  364
  381
Retained Cash Flow (-), $m
  -289
  -297
  -306
  -314
  -323
  -332
  -342
  -351
  -361
  -371
  -381
  -391
  -402
  -413
  -425
  -437
  -449
  -462
  -475
  -488
  -502
  -517
  -532
  -547
  -563
  -580
  -597
  -615
  -633
  -652
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -177
  -179
  -182
  -185
  -189
  -192
  -196
  -200
  -204
  -207
  -211
  -215
  -219
  -222
  -226
  -230
  -234
  -237
  -241
  -244
  -247
  -251
  -254
  -257
  -260
  -262
  -265
  -267
  -269
  -271
Discount rate, %
  9.10
  9.56
  10.03
  10.53
  11.06
  11.61
  12.19
  12.80
  13.44
  14.12
  14.82
  15.56
  16.34
  17.16
  18.02
  18.92
  19.86
  20.86
  21.90
  23.00
  24.15
  25.35
  26.62
  27.95
  29.35
  30.82
  32.36
  33.97
  35.67
  37.46
PV of cash for distribution, $m
  -162
  -149
  -137
  -124
  -112
  -100
  -88
  -76
  -65
  -55
  -46
  -38
  -31
  -24
  -19
  -14
  -11
  -8
  -6
  -4
  -3
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  69.7
  49.7
  36.1
  26.7
  20.0
  15.2
  11.7
  9.1
  7.2
  5.7
  4.6
  3.7
  3.0
  2.5
  2.0
  1.7
  1.4
  1.2
  1.0
  0.8
  0.7
  0.6
  0.5
  0.4
  0.4
  0.3
  0.3
  0.3
  0.2
  0.2

Vivint Solar, Inc. offers distributed solar energy, electricity generated by a solar energy system installed at or near customers' locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers. The Company also sells solar energy systems outright to customers. The Company deploys its direct-to-home sales force to provide in-person professional consultations to prospective customers to evaluate the feasibility of installing a solar energy system at their residence. The Company's systems use communication gateways and monitoring services to collect performance data. The Company operates in Arizona, California, Connecticut, Florida, Hawaii, Maryland, Massachusetts, New Jersey, New Mexico, New York, Pennsylvania, South Carolina, Texas and Utah. The Company purchases solar panels directly from multiple manufacturers.

FINANCIAL RATIOS  of  Vivint Solar (VSLR)

Valuation Ratios
P/E Ratio 34.4
Price to Sales 4.6
Price to Book 1.1
Price to Tangible Book
Price to Cash Flow -3.7
Price to Free Cash Flow -3.7
Growth Rates
Sales Growth Rate 110.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -62.5%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 9
Current Ratio 0
LT Debt to Equity 136.2%
Total Debt to Equity 138.1%
Interest Coverage -9
Management Effectiveness
Return On Assets 2.3%
Ret/ On Assets - 3 Yr. Avg. 0.1%
Return On Total Capital 1.6%
Ret/ On T. Cap. - 3 Yr. Avg. -1.6%
Return On Equity 3.3%
Return On Equity - 3 Yr. Avg. -1.5%
Asset Turnover 0.1
Profitability Ratios
Gross Margin -28.9%
Gross Margin - 3 Yr. Avg. -105.6%
EBITDA Margin -120.7%
EBITDA Margin - 3 Yr. Avg. -336.7%
Operating Margin -150.4%
Oper. Margin - 3 Yr. Avg. -387.8%
Pre-Tax Margin -174.1%
Pre-Tax Margin - 3 Yr. Avg. -415.8%
Net Profit Margin 13.3%
Net Profit Margin - 3 Yr. Avg. -27.5%
Effective Tax Rate -3.4%
Eff/ Tax Rate - 3 Yr. Avg. -1%
Payout Ratio 0%

VSLR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the VSLR stock intrinsic value calculation we used $268.028 million for the last fiscal year's total revenue generated by Vivint Solar. The default revenue input number comes from 0001 income statement of Vivint Solar. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our VSLR stock valuation model: a) initial revenue growth rate of 10.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 9.1%, whose default value for VSLR is calculated based on our internal credit rating of Vivint Solar, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Vivint Solar.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of VSLR stock the variable cost ratio is equal to 50%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $276 million in the base year in the intrinsic value calculation for VSLR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.5% for Vivint Solar.

Corporate tax rate of 27% is the nominal tax rate for Vivint Solar. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the VSLR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for VSLR are equal to 591.7%.

Life of production assets of 25.9 years is the average useful life of capital assets used in Vivint Solar operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for VSLR is equal to -44.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $780.951 million for Vivint Solar - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 118.599 million for Vivint Solar is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Vivint Solar at the current share price and the inputted number of shares is $0.7 billion.

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COMPANY NEWS

▶ Vivint Solar: 3Q Earnings Snapshot   [06:21PM  Associated Press]
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▶ /C O R R E C T I O N -- Vivint Solar/   [Aug-23-18 03:46PM  PR Newswire]
▶ Vivint Solar: 2Q Earnings Snapshot   [05:40PM  Associated Press]
▶ Penny Stocks to Watch for August 2018   [Jul-31-18 01:37PM  Investopedia]
▶ 5 Top Stocks Under $10   [Jul-14-18 02:20PM  Motley Fool]
▶ Vivint Solar Closes $811 Million of New Financing   [Jun-11-18 07:23PM  PR Newswire]
▶ Vivint Solar Is Going Backward in More Ways Than One   [May-17-18 11:25PM  Motley Fool]
▶ Solar Stocks on Fire Following California Mandate   [May-11-18 10:21AM  Investopedia]
▶ Why Solar Stocks Charged Higher Thursday   [10:05AM  Motley Fool]
▶ Vivint Solar: 1Q Earnings Snapshot   [May-08-18 04:36PM  Associated Press]
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▶ [$$] Home SolarĀ DimsĀ as Tesla, Others Curb Aggressive Sales   [Apr-05-18 12:50AM  The Wall Street Journal]
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▶ 5 Energy Stocks I'd Buy Right Now   [Apr-01-18 10:32AM  Motley Fool]
▶ 3 Growth Stocks in Solar Energy   [Mar-19-18 06:04AM  Motley Fool]
▶ Vivint Solar posts 4Q profit   [Mar-07-18 05:53PM  Associated Press]
▶ Vivint Solar Inc to Host Earnings Call   [12:45PM  ACCESSWIRE]
▶ Vivint Solar Q4 Earnings Preview   [09:38AM  Benzinga]
▶ Why Vivint Solar Is the Top Solar Stock Today   [Feb-02-18 07:48AM  Motley Fool]
▶ Why Shares of Vivint Solar, Inc. Popped 59% in 2017   [Jan-15-18 07:39AM  Motley Fool]
▶ Why Shares of Vivint Solar, Inc. Popped 14% in December   [Jan-10-18 01:33PM  Motley Fool]
▶ What to Expect From Vivint Solar in 2018   [Jan-04-18 09:47AM  Motley Fool]
▶ [$$] Buying GE, Selling Baker Hughes, Exxon Mobil   [Jan-03-18 05:23AM  Barrons.com]
▶ Tariffs Could Throw Solar Stocks For a Loop   [Dec-21-17 10:32AM  Motley Fool]
▶ Solar Companies Go Door-to-Door in Battle With Tesla   [Dec-18-17 06:00AM  Bloomberg]

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