Sunpower's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Sunpower (SPWR) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Sunpower vs Its Competitors
- TTM: Trailing 12-month revenue of 1,826M vs 149,749M combined for its competitors (1.2% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-5.7% annualized vs trailing 12 months), vs decelerating (-22.8%) for its tracked peer group.
- Growth: Sunpower generated -9.5% revenue growth year over year in Q4 2023, vs 3.5% for its competitors combined.
- Profitability: Its -8.7% net margin compares with -2.2% for the peer group.
- Peer revenue share: Sunpower accounted for 1.5% of combined revenue among its tracked peer group, down from 1.7% a year earlier.
- Peer differentiation: Revenue per employee of $0.25M compares with $0.70M for the peer group (0.4x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
SPWR Sales vs. its Competitors, Q4 2023
Sunpower reported revenue contraction of 9.45 % year on year in Q4 2023, below its competitors' combined revenue growth of 3.50 %.
With a net margin of -8.67 %, Sunpower reported lower profitability than its competitors (-2.24 %).
Sunpower generated 1.47 % of the combined sales of its peer group, down from 1.67 % a year earlier.
API endpoints for this dataset
Sunpower vs. its Competitors, Q4 2023
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Sunpower reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Sunpower and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Sunpower Corp | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (11) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (2) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Sunpower's competitor groups requires a Commercial License.
For context: the Semiconductors industry grew revenue 47.9% year over year, combined, vs -9.5% for Sunpower. Sunpower's share of combined industry revenue moved from 0.12% to 0.07%, a loss of 0.05 percentage points.
Sunpower's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Sunpower Corp | No | Yes | Yes | Yes |
| Competitors combined (24) | ||||
| High-Confidence Competitors (11) | ||||
| Similar Growth & Profitability (8) | 14.30 % (1 of 7) | 100.00 % (8 of 8) | 50.00 % (4 of 8) | 25.00 % (2 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
SPWR Stock Performance relative to its Competitors
SPWR Stock Performance relative to High-Confidence Competitors
SPWR Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Atomera Incorporated | 282.9% | Outperformed |
| 2 | Aeries Technology Inc | 282.9% | Outperformed |
| 3 | Emeren Group Ltd | 282.9% | Outperformed |
| 4 | Ascent Solar Technologies Inc | 282.9% | Outperformed |
| 5 | Rivian Automotive Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Sunpower's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Sunpower's Comment on Competition and Industry Peers
The market for solar electric power technologies is competitive and continually evolving. In the last year, we faced increased competition, resulting in price reductions in the market and reduced margins, which may continue and could lead to loss of market share. Our solar power products and systems compete with many competitors in the solar power market, including, but not limited to:
Residential and Commercial: Canadian Solar Inc., Hanwha Corporation, JA Solar Holdings Co., Kyocera Corporation, LG Corporation, Jinko Solar, Mitsubishi Corporation, NRG Energy, Inc., Panasonic Corporation, Recurrent Energy, Sharp Corporation, SunRun, Inc., Tesla, Inc., Trina Solar Ltd., Vivint, Inc., and Yingli Green Energy Holding Co. Ltd.
Power Plant Products: Hanwha Corporation, JA Solar Holdings Co., Trina Solar Ltd., Yinli Green Energy Holding Co., Ltd., Jinko Solar, Array Technologies, Inc. Soltec, Nextracker, Convert Italia, Arctech, First Solar Inc., Canadian Solar, and Conergy.
Publicly Traded Peers of Sunpower Corp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Sunpower Corp |
183.13 | 1,826.22 |
 Tesla Inc |
1,338,675.05 | 103,570.00 |
 First Solar Inc |
20,636.78 | 5,014.15 |
 Rivian Automotive Inc |
20,258.46 | 6,480.00 |
 Expand Energy Corporation |
19,919.60 | 13,915.00 |
 Enphase Energy Inc |
3,931.56 | 1,211.61 |
| SUBTOTAL | 1,411,661.91 | 151,575.41 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Sunpower Corp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Sunpower's Competitors Named by the Company
Competitive relationships identified from Sunpower reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Neovolta Inc | Company report | 85% |
| REC Group | Company report | 85% |
| Tesla, Inc. | Company report | 85% |
| NRG Energy, Inc. | Company report | 85% |
| Sunnova Energy International Inc. | Company report | 85% |
| SolarEdge | Company report | 85% |
| Vistra Corp | Company report | 85% |
| First Solar | Company report | 85% |
| Panasonic Corporation | Company report | 85% |
| SunRun, Inc. | Company report | 85% |
| CED Greentech | Company report | 85% |
| Standard Solar | Company report | 85% |
| Amicus Solar | Company report | 85% |
| GAF Energy | Company report | 85% |
| EDF Renewables | Company report | 85% |
| Adt Inc | Company report | 85% |
| Borrego | Company report | 85% |
| Hyundai Heavy Industries Co. Ltd. | Company report | 85% |
| Ameresco | Company report | 85% |
| Mortenson | Company report | 85% |
| Canadian Solar inc | Company report | 85% |
| Electriq Power Holdings Inc | Company report | 85% |
| Maxeon Solar Technologies Ltd | Company report | 85% |
| Enphase Energy Inc | Company report | 85% |
| Ascent Solar Technologies Inc | Company report | 85% |
| Jinkosolar Holding Co ltd | Company report | 85% |
| Emeren Group Ltd | Company report | 85% |
| Athlon Acquisition Corp | Company report | 85% |
| Sunworks Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Sunpower's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Sunpower's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Tesla Inc | Automotive 89.73 % |
| Rivian Automotive Inc | Automotive 71.93 % |
| Expand Energy Corporation | Marketing 83.93 % |
| Enphase Energy Inc | Reportable 100.00 % |
| Canadian Solar inc | Recurrent Energy Segment 7.21 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Sunpower's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Sunpower Corp | 183 | 249,962 | -16,378 |
| Tesla Inc | 1,338,675 | 768,409 | 24,202 |
| First Solar Inc | 20,637 | 634,703 | 235,587 |
| Rivian Automotive Inc | 20,258 | 425,420 | -194,984 |
| Expand Energy Corporation | 19,920 | - | - |
| Enphase Energy Inc | 3,932 | 421,869 | 31,606 |
| PEERS TOTAL | 1,411,479 | 697,705 | 3,617 |
Sunpower's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Tesla Inc | United States 44.55 % |
| Enphase Energy Inc | United States 79.60 % |
| Jinkosolar Holding Co ltd | Europe 91.92 % |
| Solaredge Technologies Inc | US 50.92 % |
| Canadian Solar inc | Asia 22.29 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Sunpower's Position in Industry Market Structure
Market-capitalization share and concentration across all 109 companies in Sunpower's industry classification, broader than the peer set above. Market cap in millions of $.Sunpower ranks #0 of 109 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,702, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Nvidia Corp | 4,339,001 | 36.03 % |
| 2 | Taiwan Semiconductor Manufacturing Company Limited | 2,015,521 | 16.74 % |
| 4 | Advanced Micro Devices Inc | 843,734 | 7.01 % |
| 5 | Micron Technology Inc | 839,457 | 6.97 % |
| 6 | Intel Corporation | 1,234 | 5.2% |
| 7 | Applied Materials Inc | 1,234 | 5.2% |
| 8 | Texas Instruments Incorporated | 1,234 | 5.2% |
| 9 | Arm Holdings Plc | 1,234 | 5.2% |
| 10 | Analog Devices Inc | 1,234 | 5.2% |
| 11 | Marvell Technology Inc | 1,234 | 5.2% |
| 0 | Sunpower Corp | 195 | 0.00 % |
Market cap and industry share for the rest of Sunpower's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-06-04.
Sunpower's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Semiconductors industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (180 companies). See the full Semiconductors industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 18.69 % | 30.05 % (avg) | -11.4 pp |
| Operating Margin | -4.33 % | industry median | -6.5 pp |
| EBITDA Margin | -1.35 % | 5.27 % (avg) | -6.6 pp |
| Capital Intensity (Capex / Revenue) | 3.15 % | 7.66 % (avg) | -4.5 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Sunpower's Valuation vs Competitive Position
Valuation multiples vs the Semiconductors industry average (180 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Semiconductors industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 40.0x | - |
| EV / EBITDA | - | 21.7x | - |
| P/B | 1.5x | 6.0x | -4.5x |
| Return on Equity | -24.99 % | industry aggregate | -38.01 % |
| Return on Invested Capital | -5.57 % | -0.83 % (avg) | -4.74 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Sunpower's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -47.92 % | 62.36 % | -26.87 % | -7.79 % | 8.00 % | -23.90 % | -6.71 % | 31.55 % |
| Operating Margin | -13.09 % | -18.07 % | -54.41 % | -49.19 % | -5.26 % | 3.47 % | -0.19 % | -0.95 % |
| Return on Invested Capital | -4.14 % | -9.29 % | -25.99 % | -33.94 % | -9.08 % | 3.97 % | -0.16 % | -1.32 % |
| P/E | - | - | - | - | 200.3x | 8.3x | - | 107.8x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Sunpower's Strategic Group Map
Sunpower is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Sunpower's trailing-12-month revenue growth of 12.3% and operating margin of -4.3% compares with an average of 10.6% growth and -3.5% margin across its 8 closest peers by combined growth, margin and ROIC -- Sunpower sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Sunpower's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,702 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.15 % vs industry average 7.66 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Sunpower's dedicated Suppliers and Customers pages, not here.
Sunpower's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Sunpower falls in the Medium attractiveness / Low strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Sunpower's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Operating margin 6.5 points below the industry median.
- Return on equity 38.0 points below the industry aggregate.
- Latest-quarter revenue run-rate is decelerating (-5.7% annualized vs trailing 12 months).
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- A meaningful share of competitors (34.80 %) show financial-distress signals, a possible opening to gain share.
Threats
- Industry dominated by Nvidia Corp, holding 36.03 % of industry market cap.
- Tracked peer group's revenue run-rate is broadly decelerating (-22.8% annualized).
Methodology: see Methodology: SWOT Analysis.
Sunpower's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Sunpower Corp | 0.23 | 1.29 | 0.53 |
| Tesla Inc | 0.47 | 1.96 | 0.05 |
| First Solar Inc | 0.98 | 2.58 | 0.03 |
| Rivian Automotive Inc | 0.94 | 2.18 | 0.89 |
| Expand Energy Corporation | 0.27 | 1.00 | 0.24 |
| Enphase Energy Inc | 0.68 | 2.99 | 0.63 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Sunpower's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Sunpower Corp | Q3 2023 | -9.5 % | - |
| Tesla Inc | Q3 2026 | -0.2 % | -43.3 % |
| First Solar Inc | Q3 2026 | -22.8 % | +25.2 % |
| Rivian Automotive Inc | Q3 2026 | +38.3 % | - |
| Expand Energy Corporation | Q3 2026 | +10.8 % | -5.1 % |
| Enphase Energy Inc | Q3 2026 | -28.5 % | -64.9 % |
| PEERS TOTAL | +20.0 % | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Sunpower's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Sunpower Corp | Q3 2023 | -0.5 % | +7.6 % |
| Tesla Inc | Q3 2026 | -2.1 % | +110.5 % |
| First Solar Inc | Q3 2026 | -47.4 % | -24.1 % |
| Rivian Automotive Inc | Q3 2026 | +29.0 % | -18.1 % |
| Expand Energy Corporation | Q3 2026 | +169.5 % | +8.1 % |
| Enphase Energy Inc | Q3 2026 | -22.3 % | +42.7 % |
Sunpower's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Sunpower Corp | - | - | - |
| Tesla Inc | 2.22% | 3.04% | 3.80% |
| First Solar Inc | 13.77% | 16.47% | 18.33% |
| Rivian Automotive Inc | - | - | - |
| Expand Energy Corporation | 9.53% | 10.36% | 14.29% |
| Enphase Energy Inc | 3.02% | 3.32% | 7.87% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Sunpower's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Sunpower Corp | - | 0.10 |
| Tesla Inc | 415.44 | 12.93 |
| First Solar Inc | 11.09 | 4.12 |
| Rivian Automotive Inc | - | 3.13 |
| Expand Energy Corporation | 7.45 | 1.43 |
| Enphase Energy Inc | 43.40 | 3.24 |
| PEERS AVERAGE | 2,149.84 | 9.31 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.