Spruce Power Holding (SPRU) Fair Value & Analysis

Technology · US · Market cap $51.1M

Below-average quality, screening 100% undervalued on our models.

What matters now

• The price is below even our cautious bear case ($3.23). The market is more pessimistic than our downside scenario.
• The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
• Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
• A fairly wide model range ($3.23 to $6.47) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range $1.16 – $73.52 · fair‑value band $3.23 – $6.47 · the $2.17 price screens below the $4.33 fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

Spruce Power Holding (SPRU) currently trades at $2.17, while our model-based Fair Value estimate is $4.33, implying the stock looks roughly 99.5% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Over the trailing twelve months, Spruce Power Holding generated revenue of $111M at a net margin of -12.2%. Revenue declined 1.7% year over year. It earns a return on equity of -10.5%. Net debt stands at $627M. Fundamentals as of Jul 24, 2026

Our scenario range runs from $3.23 (bear case) to $6.47 (bull case); at $2.17, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 68% below its 52-week high and 92% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -7% fair-value upside, at 100%, SPRU screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Key figures & financial health

Quality Score breakdown

About the company

Spruce Power Holding Corporation owns and operates distributed solar energy assets in the United States. The company offers electricity for homeowners through subscription-based payments and solar renewable energy credits (SRECs) for contracted prices, which are generated by home solar energy systems.

Full company description

Spruce Power Holding Corporation owns and operates distributed solar energy assets in the United States. The company offers electricity for homeowners through subscription-based payments and solar renewable energy credits (SRECs) for contracted prices, which are generated by home solar energy systems. It also provides Spruce Pro servicing platform, which provides home and third party-owned solar energy systems with portfolio managed services, including billing and collections/asset recovery, account support services, financial asset management, homeowner support and servicing technology, asset operations, and transaction and execution services related to SRECs; and Spruce Pro, which offers third-party owners a range of services for residential, commercial, and industrial assets. Spruce Power Holding Corporation was founded in 2009 and is headquartered in Houston, Texas

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Spruce Power Holding reported revenue of $112M in FY2025 versus $15.6M in FY2021, a compound +63.6%/yr. Reported net income was −$26.0M in FY2025.

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Peer Group

Solar · 118 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Solar median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.