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Best Solar stocks by quality

Of the 60 stocks listed here, none currently reaches the maximum quality score. The median valuation of the group comes out at 20.5 times its free cash flow.

The Solar stocks with the highest scores from our fundamental analysis, ranked from best to worst quality, with their valuation (P/FCF). Click a stock for its full analysis.

#StockQuality scoreP/FCF
1Vikram Solar Limited (VIKRAMSOLR.NS)8/10n.d.
2Swelect Energy Systems Limited (SWELECTES.NS)8/10n.d.
3Premier Energies Limited (PREMIERENE.NS)8/10n.d.
4Nextpower Inc (NXT)8/1028.7x
5First Solar Inc (FSLR)8/1019.3x
6Borosil Renewables Limited (BORORENEW.NS)8/1030.3x
7Altea Green Power S.p.A. (AGP.MI)8/1010.4x
8Hengs Technology Co., Ltd. (4582.TW)8/101.9x
9Indosolar Limited (WAAREEINDO.NS)7/1019.6x
10Waaree Energies Limited (WAAREEENER.NS)7/10n.d.
11Fujiyama Power Systems Limited (UTLSOLAR.NS)7/10n.d.
12TOYO Co., Ltd (TOYO)7/10n.d.
13Sunation Energy Inc (SUNE)7/10n.d.
14Saatvik Green Energy Limited (SAATVIKGL.NS)7/10n.d.
15SMA Solar Technology AG (S92.DE)7/1021.5x
16Ravindra Energy Limited (RELTD.NS)7/10n.d.
17Insolation Energy Limited (INA.NS)7/10n.d.
18Emmvee Photovoltaic Power Limited (EMMVEE.NS)7/10n.d.
19Lingda Group Co., Ltd. (300125.SZ)7/10112.7x
20Hengdian Group DMEGC Magnetics Co., Ltd. (002056.SZ)7/1016.1x
21Websol Energy System Limited (WEBELSOLAR.NS)6/1042.7x
22Urja Global Limited (URJA.NS)6/10n.d.
23Spruce Power Holding Corp (SPRU)6/10n.d.
24Solarworld Energy Solutions Limited (SOLARWORLD.NS)6/10n.d.
25Smart Günes Enerjisi Teknolojileri Arastirma ve Gelistirme Üretim Sanayi ve Ticaret A.S. (SMRTG.IS)6/10n.d.
26Sunrun Inc (RUN)6/10n.d.
27ANJI Technology Co., Ltd. (6477.TW)6/1012.3x
28Danen Technology Corporation (3686.TW)6/10n.d.
29State Power Rixin Technology Co., Ltd. (301162.SZ)6/10n.d.
30GCL System Integration Technology Co., Ltd. (002506.SZ)6/1011.9x
31Kalyon Günes Teknolojileri Üretim A.S. (KLYPV.IS)5/9n.d.
32Turbo Energy, S.A. (TURB)5/10n.d.
33Sterling and Wilson Renewable Energy Limited (SWSOLAR.NS)5/10n.d.
34Surana Solar Limited (SURANASOL.NS)5/10n.d.
35SunPower Inc (SPWR)5/10n.d.
36Profithol, S.A. (SPH.MC)5/10n.d.
37PN Smart Energy Limited (PN)5/1015.4x
38MPR Australia Limited (MPR.AX)5/10n.d.
39LEMON SISTEMI (LS.MI)5/10n.d.
40JinkoSolar Holding Co., Ltd. (JKS)5/10n.d.
41Energy Time S.P.A. (ET.MI)5/10n.d.
42Blume Metal Kimya Anonim Sirketi (BLUME.IS)5/10n.d.
43Arctech Solar Holding Co., Ltd. (688408.SS)5/10n.d.
44Clenergy Technology Co., Ltd. (603628.SS)5/10n.d.
45Win Win Precision Technology Co., Ltd. (4949.TW)5/1058.0x
46HD Hyundai Energy Solutions Co.,Ltd. (322000.KS)5/10n.d.
47Shenzhen SOFARSOLAR Co., Ltd. (301658.SZ)5/1040.0x
48Gansu Golden Solar Co., Ltd (300093.SZ)5/10n.d.
49Zeo Energy Corp (ZEO)4/10n.d.
50UMBRELLA GLOBAL ENERGY, S.A. (UMB.MC)4/10n.d.
51Tigo Energy Inc (TYGO)4/10n.d.
52Solex Energy Limited (SOLEX.NS)4/10106.2x
53Soltec Power Holdings, S.A. (SOL.MC)4/10n.d.
54SolarMax Technology Inc (SMXT)4/10n.d.
55Shoals Technologies Group Inc (SHLS)4/10n.d.
56Enphase Energy Inc (ENPH)4/10n.d.
57CW Enerji Mühendislik Ticaret ve Sanayi Anonim Sirketi (CWENE.IS)4/10n.d.
58Canadian Solar Inc (CSIQ)4/10n.d.
59Beam Global (BEEM)4/10n.d.
60Ascent Solar Technologies Inc (ASTI)4/10n.d.

Our quality score judges how solid a business is across 10 objective financial criteria (profitability, free cash flow growth, share buybacks, debt, return on capital). The P/FCF (price to free cash flow) shows whether the stock is cheap or expensive. Full method: our methodology.

To place these multiples against sector averages, the reference public sector data is Aswath Damodaran's (NYU Stern).

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